Slide 1: FY2026 Annual Results
Cover 2 FY2026 Annual Results 10 September 2026 24 February 2022 FY2026 Annual Results
Slide 2: Contents
Contents Page Financial Review – FY2026 4 Property Business – Hong Kong Land Bank 10 Property Development 14 Property Investment 18 Property Business – Chinese Mainland Land Bank 27 Property Development 29 Property Investment 31 Hotel Business 36 Sustainability 38 Market and Business Pro
Slide 3: Disclaimer
Disclaimer The information contained in these materials is intended for reference and general information purposes only. Neither the information nor any opinion contained in these materials constitutes an offer or advice, or a solicitation, recommendation or suggestion by Sun Hung Kai Properties Lim
Slide 4: Financial Review – FY2026
ICC and IGC, West Kowloon Cluster FINANCIAL REVIEW – FY2026 FY2026 Annual Results
Slide 5: Financial Highlights
Financial Highlights FY2026 FY2025 Change Profit attributable to the Company’s shareholders - Underlying(1) (HK$ mn) 22,850 21,855 +4.6% - Reported (HK$ mn) 21,426 19,277 +11.1% Basic earnings per share - Underlying(1) (HK$) 7.89 7.54 +4.6% - Reported (HK$) 7.39 6.65 +11.1% Final dividend per share
Slide 6: Profit Breakdown by Segment
Profit Breakdown by Segment Profit Breakdown by Segment(1) FY2026 FY2025 Change (in HK$ mn) (I) Property development - Hong Kong 4,622 3,200 - Mainland 3,670 5,090 Sub-total 8,292 8,290 Flat (II) Property rental - Hong Kong 12,820 12,956 - Mainland 5,167 4,864 - Singapore 584 572 Sub-total 18,571 18
Slide 7: Financial Position
Financial Position 30 Jun 31 Dec 30 Jun As at 2026 2025 2025 Shareholders’ equity (HK$ mn) 633,936 621,700 617,851 - Shareholders’ equity per share (HK$) 218.8 214.5 213.2 Net debt (HK$ mn) 67,615 83,646 93,298 Gearing ratio(1) 10.7% 13.5% 15.1% FY2026 FY2025 Interest cover(2) 8.5x 6.0x (1) Calculat
Slide 8: Prudent Financial Management
Prudent Financial Management Net Debt and Gearing Ratio (HK$ mn) 140,000 21.2% 22% Effective deleveraging since the peak in 18.2% 127,786 18.3% 20% Dec-23: net debt reduced by ~47% 17.8% 18% and net gearing ratio cut by half 15.1% 16% 109,773 110,866 110,000 107,828 13.5% 14% Strong financial po
Slide 9: Prudent Financial Management (Cont’d)
Prudent Financial Management (Cont’d) Net finance costs (including capitalized interest) reduced by 33% yoy to HK$2,949 million, driven by lower debt and average cost of borrowing Average Cost of Borrowings Debt Maturity Profile <1 year, 15% >5 years, 30 Jun 30 Jun 21% As at 2026 2025 Between 1 an
Slide 10: Property Business – Hong Kong Land Bank
SIERRA SEA, Sai Sha PROPERTY BUSINESS – HONG KONG LAND BANK FY2026 Annual Results
Slide 11: Land Bank in Hong Kong
Land Bank in Hong Kong Total land bank as at 30 June 2026: 56.4 mn sq.ft.(1) Completed Properties Properties under Development (3) Data Centre Industrial Data Centre Industrial (3) 4% Residential 1% 3% 8% 11% Office 13% Hotel 12% Retail 10% Residential 73% Retail 34% Office 31% (2) Total: 39.2 mn
Slide 12: Land Bank in Hong Kong (Cont’d)
Land Bank in Hong Kong (Cont’d) Added three sites through public tender, land exchange and lease modifications Location Usage Stake Attributable (%) GFA (sq. ft.) (1) Lot No. 2579 in DD 92, Kwu Tung Residential/ Shops 100 1,224,000 (2) Tuen Mun A16 Station Package One Property Development Resident
Slide 13: Tuen Mun A16 Station Package Two Property Development
Tuen Mun A16 Station Package Two Property Development Adjacent to the future MTR Tuen Mun A16 Station, this multi-phased development comprises over 5,500 units and will be launched in phases Located on the Tuen Mun riverside, offering units with extensive sea and river views One of the few new
Slide 14: Property Business – Hong Kong Property Development
Cullinan Harbour, Kai Tak PROPERTY BUSINESS – HONG KONG PROPERTY DEVELOPMENT FY2026 Annual Results
Slide 15: Recognized Property Development in Hong Kong
Recognized Property Development in Hong Kong (1) Property Development FY2026 FY2025 Change Revenue (HK$ mn) 44,137 26,139 +69% Operating profit (HK$ mn) 4,622 3,200 +44% Margin improvement has kicked in since 2H FY2026, driving the full-year level to 11% Expect booked sales margin to recover gra
Slide 16: Contracted Sales in Hong Kong for FY2026
Contracted Sales in Hong Kong for FY2026 For the year under review, Hong Kong’s residential market continued its recovery with active primary transactions Achieved contracted sales of about HK$38.1 bn, exceeding target of HK$30.0 bn Major contributors include: Stake Attri. Sales Proceeds Proje
Slide 17: Major New Projects to be launched in the Next 10 Months
Major New Projects to be launched in the Next 10 Months Sufficient saleable resources with diversified product mix appealing to potential buyers 2 MTR/ High speed railway Stake Attri. Res. Project Location (%) GFA (sq.ft.) 1 (1) Lot No. 1696 in DD 115, Yuen Long 100 466,000 Tung Shing Lei Ph.1A &
Slide 18: Property Business – Hong Kong Property Investment
New Town Plaza, Sha Tin PROPERTY BUSINESS – HONG KONG PROPERTY INVESTMENT FY2026 Annual Results
Slide 19: Rental Income – Hong Kong
Rental Income – Hong Kong Gross rental income registered a modest increase in FY2026 Office rental income was supported by high Gross Rental Income by Sector in Hong Kong(1) HK$ mn occupancy rate and new contributions, 20,000 while the retail portfolio held firm 17,551 17,738 17,942 17,703 (+1.0%
Slide 20: Hong Kong Retail Portfolio
Hong Kong Retail Portfolio Achieved an increase in tenant sales with latest occupancy of 95% Adopted multi-pronged approach to strengthen competitive edge Collaborate with tenants, business units and market Refine tenant-and- players from different sectors Leverage omnichannel trade mix for brin
Slide 21: Hong Kong Retail Portfolio (Cont’d)
Hong Kong Retail Portfolio (Cont’d) Rapid adaptation to market trends and ongoing refinement of tenant mix across portfolio Achieved an increase in tenant sales, partially driven by the strong demand for jewellery and watches Malls in tourist districts outperformed others in the portfolio, dri
Slide 22: Initiatives to Enhance Shoppers’ Experience
Initiatives to Enhance Shoppers’ Experience Integrated loyalty programme - The Point The Point GOLD’s exclusive privileges Over 3.4mn Overall member spending membership 27% yoy VIP programme - The Point GOLD 40% stronger growth in membership in VIP member spending EV Fast Charging Services Introduce
Slide 23: Hong Kong Office Portfolio
Hong Kong Office Portfolio Occupancy remained stable at about 90% Both IFC and ICC recorded high occupancy, supported by new leases from multinational and Mainland corporates, as well as in-house expansion from wealth management firms Hong Kong’s office leasing market recovery remains uneven,
Slide 24: International Gateway Centre (IGC) in West Kowloon
International Gateway Centre (IGC) in West Kowloon IGC office towers Office Attri. GFA: ~1.1mn sq.ft. (44.6% stake) Two pairs of interconnected towers offering ~2.5 mn sq.ft. of super Grade-A office space Unparalleled air-plus-rail connectivity Next-generation workspace integrating smart techn
Slide 25: West Kowloon Commercial Hub: The New Centre of Gravity
West Kowloon Commercial Hub: The New Centre of Gravity ~8 mn sq.ft. premium commercial cluster | Unparalleled air-plus-rail connectivity | Anchored by global financial institutions | Adjacent to international arts and cultural hub Deeply rooted in West Kowloon Over two decades of operations acro
Slide 26: Expanding Portfolio to Strengthen Recurring Income Base
Expanding Portfolio to Strengthen Recurring Income Base Ramping up occupancy for new completions The ANGLE, Kwun Tong (72.6%) International Gateway Centre (IGC) Attri. Retail GFA: 363,000 sq.ft. West Kowloon Phased opening in progress Attri. Office GFA : 1.1 mn sq.ft (~44.6%) Mix of dining, anim
Slide 27: Property Business – Chinese Mainland Land Bank
One IFC River West, Hangzhou IFC PROPERTY BUSINESS – CHINESE MAINLAND LAND BANK FY2026 Annual Results
Slide 28: Land Bank on the Chinese Mainland
Land Bank on the Chinese Mainland Total land bank as at 30 June 2026: 64.7 mn sq.ft.(1) Completed Properties Properties under Development Hotel, Hotel Residential 3% 10% 8% Residential 43% Office 32% Office Retail 44% 38% Retail 22% (2) Total: 26.5 mn sq.ft. Total: 38.2 mn sq.ft. (1) In attributab
Slide 29: Property Business – Chinese Mainland Property Development
Cullinan West at Hangzhou IFC, Hangzhou PROPERTY BUSINESS – CHINESE MAINLAND PROPERTY DEVELOPMENT FY2026 Annual Results
Slide 30: Recognized Property Development and Contracted Sales on the Chinese Mainland
Recognized Property Development and Contracted Sales on the Chinese Mainland (1) Property Development FY2026 FY2025 Change Revenue (HK$ mn) 10,054 8,417 +19% Operating profit (HK$ mn) 3,670 5,090 -28% Revenue growth was driven by higher sales volume of residential units Achieved attributable con
Slide 31: Property Business – Chinese Mainland Property Investment
Shanghai IFC Mall, Shanghai PROPERTY BUSINESS – CHINESE MAINLAND PROPERTY INVESTMENT FY2026 Annual Results
Slide 32: Rental Income - Chinese Mainland
Rental Income - Chinese Mainland Overall rental income rose 5.2%(in HK dollars), with increased contributions from the retail portfolio offsetting the decline in office rental Gross Rental Income by Sector on the Mainland(1) HK$ mn 7,000 6,575 6,495 (+5.2% yoy) Office 6,305 6,173 26% Retail 6,000
Slide 33: Existing Mainland Property Investment – Integrated Projects
Existing Mainland Property Investment – Integrated Projects Provide modern and dynamic commercial space in integrated developments with strong connectivity, generating synergy and complementary benefits Shanghai IFC Mall & Shanghai IFC Office Retail portfolio: Proactive strategies such as tenant
Slide 34: Expanding Mainland Property Investment Portfolio
Expanding Mainland Property Investment Portfolio ITC ITC Tower B – Super Grade-A Standard Premium building specifications catering to discerning tenants and stringent demands Andaz Shanghai ITC Keen interest from prominent multinational and domestic corporations Retail – ITC Mall Initial phase
Slide 35: Growing Rental Contribution on the Chinese Mainland
Growing Rental Contribution on the Chinese Mainland FY2025/26 FY2026/27 FY2027/28 Rendering IGC mall & Conrad Guangzhou hotel at Tianhui Parc Central (Guangzhou South) & One ICC Initial retail component of Plaza, Zhujiang New Town CBD, Guangzhou at Guangzhou South Station ICC Hangzhou IFC (River Eas
Slide 36: Hotel Business
Four Seasons Hotel Hong Kong HOTEL BUSINESS FY2026 Annual Results
Slide 37: Hotel Business
Hotel Business Hotel Operations(1) FY2026 FY2025 Change Revenue (HK$ mn) 5,460 5,250 +4% Operating profit (HK$ mn) 728 615 +18% Hong Kong Luxury hotels outperformed with increases in both occupancy and room rates. Other hotels also performed well Renovation of The Royal Garden Kowloon East atop
Slide 38: Sustainability
GO PARK Sai Sha, Hong Kong SUSTAINABILITY FY2026 Annual Results
Slide 39: Sustainability Initiatives
Sustainability Initiatives Inaugural inclusion in the Dow Jones Best-in-Class World Index, placing SHKP among the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index Hong Kong’s largest and Expanding renewable Sports for Charity and first privately funded energy adoption Spor
Slide 40: Market and Business Prospects
IGC, ICC and IFC, Hong Kong MARKET AND BUSINESS PROSPECTS FY2026 Annual Results
Slide 41: Market Prospects
Market Prospects Global economic outlook remains uncertain due to persistent regional Global conflicts and high energy prices Economy Robust trade performance and resilient domestic demand will continue to drive steady economic growth Continued inflow of high-calibre talent and executives will
Slide 42: Business Prospects
Business Prospects 1. Strong Financial Position – Capturing Opportunities with Discipline Leverage strong financial position to pursue selective land acquisitions in Hong Kong at reasonable costs when opportunities arise Replenish land bank through diversified channels in a measured manner Rem
Slide 43: Business Prospects (Cont’d)
Business Prospects (Cont’d) 3. Property Investment – Strengthening Recurring Income Streams Portfolio Enhancement: Boost competitiveness through proactive leasing, tenant engagement, and strategic asset upgrades Place-Making Initiatives: Enhance surrounding areas with improved landscaping, publi
Slide 44: Strategic Growth Through Quality Landmarks & Innovation
Strategic Growth Through Quality Landmarks & Innovation The Group will continue to invest in the city’s future through building landmark projects that foster both economic advancement and social progress. By harnessing technologies to enhance productivity and competitiveness, the Group will deliver
Slide 45: Appendix: Sustainability Performance
Appendix: Sustainability Performance To achieve LEED certification across all new investment properties Green Buildings To attain LEED Gold or Platinum ratings for core commercial projects under development 10-year Targets for FY2030 (baseline year: FY2020) Progress in FY2025(2) Electricity To
Slide 46: Appendix: Sustainability Performance (Cont’d)
Appendix: Sustainability Performance (Cont’d) Climate-related Disclosures Enhanced disclosures by referencing the ISSB IFRS S2 Climate-related Disclosures and the latest HKEx’s ESG Code Part D under the four pillars – Governance, Strategy, Risk Management and Metrics and Targets Sustainability Rep
Slide 47: FY2026 Annual Results
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