Wing Tai Properties Limited · HKEX:369
Wing Tai Properties — H1 2025 Earnings Presentation
40 slides from Wing Tai Properties's earnings presentation, 2025
Slide 1: Wing Tai Properties Limited Interim Results 2025
Wing Tai Properties Limited INTERIM Results 2025 永泰地產有限公司
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward- looking terminology such as believe, expect, anticipate, estimate, plan, project, target, may, will or similar words that express an
Slide 3: Agenda
Agenda • A Snapshot of 1H 2025 • Key Achievements • Land Bank • Business Review • Property Development • Property Investment & Management • Hospitality Investment & Management • Solid Capital Structure • Prospects • 2025 Interim Results Highlights • Appendix
Slide 4: A Snapshot of 1H 2025
A Snapshot of 1H 2025
Slide 5: Key Achievements
Key Achievements • We launched the pre-sale of UNI Residence, our joint-venture residential site near Tai Wai and Hin Keng MTR stations, achieving positive results with around 40% of the total units pre-sold. Superstructure work is now underway. • Completed the disposal of an investment property loc
Slide 6: Balanced and diversified land bank in Hong Kong
Balanced and diversified land bank in hong kong Development properties Investment properties 1. OMA OMA 6. Landmark East (“Upper Gold Coast” series) 7. Shui Hing Centre 4 2. OMA by the Sea (“Upper Gold Coast” series) 8. Le Cap 8 9 1 2 5 3. Central Crossing 9. La Vetta 7 6 4. Cloudview 10. Lanson Pla
Slide 7: Land bank in London
Land bank in London Cavendish Square 66 Shoe Lane 3 4 30 Gresham Street 5 6 No.1 Savile Row 10 Fleet Place 4 35 Berkeley Square 1 2 7
Slide 8: Land bank (as at 30 June 2025)
Land bank (as at 30 JUNE 2025) Land Bank Overview (sq.ft.) Strategic land bank with focus in Hong Kong Valuation Investment Property Attributable Total as at Property Hong Kong London Others Development 81% Gross Floor Area / (’000 sq. 30 June 19% (’000 sq. ft.) (’000 sq. ft.) (’000 sq. ft.) Saleabl
Slide 9: Business Review
Business Review 9 Lanson Place Parliament Gardens, Melbourne
Slide 10: Property Development
Property Development 10
Slide 11: Sale and development pipeline (As at 30 June 2025)
Sale and development pipeline (As at 30 JUNE 2025) Project pipeline Available Attributable Estimated Completion Saleable Saleable Group’s Area / Area / Property Development Portfolio Interest 2029 Gross Gross 2025 2026 2027 2028 and Floor Area Floor Area beyond (’000 sq. ft.) (’000 sq. ft.) Hong Kon
Slide 12: Project Under Development in Hong Kong
Project Under Development in Hong Kong Central Crossing • Combined gross floor area up to 433,500 sq. ft. • Mixed-use development comprises Grade A offices, a luxury international hotel, bespoke retails and a green open space • The first and only Grade A office development built in a heritage site a
Slide 13: Project Under Development in Hong Kong – cont'd
Project Under Development in Hong Kong – cont’D Cloudview, near Sheung Shui MTR Station • Gross floor area of approximately 284,170 sq. ft. • Medium-density residential development adjacent to Fanling Golf Course • Superstructure work is in progress * Artist impression • Pre-sale consent obtained in
Slide 14: Project Under Development in Hong Kong – cont'd
Project Under Development in Hong Kong – cont’D UNI Residence, near Tai Wai and Hin Keng MTR stations • Saleable area of approximately 77,000 sq. ft. • Launched pre-sale in May 2025 • Cumulatively, around 40% (in terms of number) of the residential units were pre-sold as at 30 June 2025 • Superstruc
Slide 15: Completed Development in Hong Kong
Completed Development in Hong Kong OMA OMA (466 units), So Kwun Wat Road, Tuen Mun • Saleable area of approximately 234,000 sq. ft. for 466 residential apartment units • Medium-density residential development • Cumulatively, around 98% (in terms of number) of the residential units were sold as at 30
Slide 16: Completed Development in Hong Kong – cont'd
Completed Development in Hong Kong – cont’D OMA by the Sea (517 units), Castle Peak Road, Tai Lam, Tuen Mun • Saleable area of approximately 252,000 sq. ft. for 517 residential apartment units • Medium-density residential development • Cumulatively, around 97% (in terms of number) of the residential
Slide 17: Property Investment & Management
Property Investment & Management 17
Slide 18: Investment portfolio in Hong Kong
Investment portfolio in hong kong Gross floor area Occupancy as at (’000 sq. ft.) 30 June 2025 Grade A Offices Landmark East (AIA Kowloon Tower/ 1,338 86% AXA Tower) Industrial Property Shui Hing Centre* 187 67% Le Cap 34 100% Residential Properties La Vetta 72 74% * Obtained the Town Planning Board
Slide 19: Investment portfolio in London
Investment portfolio in london 1) Commercial Property at Berkeley Square, West End • Net internal area of approximately 7,900 sq. ft. of Grade A office space 2) Commercial Property at Savile Row/Vigo Street, West End • Net internal area of approximately 14,000 sq. ft. of Grade A office and retail sp
Slide 20: Investment portfolio in London – Joint Venture
Investment portfolio in london – JOINT VENTURE 1) Commercial Property at Cavendish Square, West End • Group’s interest of 33% • Net internal area of approximately 13,000 sq. ft. of Grade A office space 2) Commercial Property at Shoe Lane, City of London • Group’s interest of 21% • Net internal area
Slide 21: Investment portfolio in London – Joint Venture (cont'd)
Investment portfolio in london – JOINT VENTURE (cont’D) 3) Commercial Property on Fleet Place, City of London • Group’s interest of 25% • Net internal area of approximately 192,000 sq. ft. of Grade A office and retail space 4) Commercial Property at Gresham Street, City of London • Group’s interest
Slide 22: Hospitality Investment & Management
HOSPITALITY INVESTMENT & MANAGEMENT 22 Lanson Place Grand Bayview, Qianhai, Shenzhen
Slide 23: Hospitality portfolio
Hospitality portfolio Lanson Place Properties – Investment & Management • Strong brand recognition in Hong Kong and key gateway cities in Asia by customers as well as property owners Lanson Place Causeway Bay, Hong Kong • Group’s interest: 100% • 188 units • A member of the “Small Luxury Hotels of t
Slide 24: Hospitality portfolio – cont'd
Hospitality portfolio – cont’D Lanson Place Properties – Management Lanson Place Grand Bayview, Qianhai, Shenzhen 1,028 units (scheduled to open in Q4 2025) Lanson Place Parkside, Shanghai 182 units Yiju Apartment, Shanghai Shenzhen Shenzhen 1,610 units Hong Kong Two MacDonnell Road, Hong Kong 216 u
Slide 25: Hospitality investment and management
Hospitality investment and management • Following an extensive refurbishment project led by the world- renowned Parisian hotel design maestro Pierre-Yves Rochon, Lanson Place Causeway Bay hotel in Hong Kong was soft reopened in March 2024, and is building up market awareness and occupancy. • Lanson
Slide 26: Solid capital structure
Solid capital structure • Access to bond market since 2012, raising a total of approximately HK$1,900 million unrated fixed rate bonds and S$260 million 4.35% unrated senior guaranteed perpetual capital securities, a reflection of strong market recognition and confidence in our financial position. •
Slide 27: Prospects
PROSPECTs 27 *Artist impression
Slide 28: Prospects
PROSPECTs • In the first half of 2025, Hong Kong’s property market remained under pressure due to delayed US interest rate cut, subdued local consumer sentiment and an uncertain economic outlook. Nonetheless, the number of companies in Hong Kong with overseas or Mainland parent companies reached a r
Slide 29: Prospects – cont'd
PROSPECTs – cont’D • The residential property market is expected to recover gradually, supported by decline in HIBOR and perceived rate cuts from the US Federal Reserve, as well as the growing demand of more immigrants brought by various government policies including the New Capital Investment Entra
Slide 30: Prospects – cont'd
PROSPECTs – cont’D • The vision for this development is to make an exceptional place that is more than world-class in all aspects. This marque project will transform the landscape and legacy of Central, marking a significant step forward in our contribution to the city. • Meanwhile the commercial pr
Slide 31: 2025 Interim Results Highlights
2025 INTERIM Results Highlights 31
Slide 32: Financial results summary
Financial results summary For the six months ended 30 June (HK$’M) 2025 2024 Revenue 442 560 21% Gross profit 257 308 17% Loss from operations (997) (1,233) 19% Share of results of joint ventures and associates (155) (59) 163% Loss attributable to shareholders of the company (1,187) (1,337) 11% Net
Slide 33: Financial results summary – cont'd
Financial results summary – cont’D For the six months ended 30 June 2025 2024 Basic loss per share (HK$) (0.87) (0.99) 12% Core earnings per share (HK$) 0.08 0.02 300% Interim dividend per share (HK cents) 3.0 3.0 No change Dividend payout (HK$’M) 41 41 1% 33
Slide 34: Segment results overview
Segment results overview For the six months ended 30 June (HK$’M) 2025 2024 Property Development Revenue (excluding inter-segment sales) 90 221 Loss before taxation (570) (589) Net valuation loss and impairment provision on properties and financial (507) (569) instruments including joint ventu
Slide 35: Segment results overview – cont'd
Segment results overview – cont’D For the six months ended 30 June (HK$’M) 2025 2024 Hospitality Investment & Management Revenue 67 27 Loss before taxation (121) (120) Net valuation loss on properties including joint ventures (87) (55) Core loss before taxation (34) (65) Others Revenue 21
Slide 36: Balance sheet summary
Balance sheet summary 30 June 31 December (HK$’M) 2025 2024 Total assets 29,938 31,086 4% Net assets 22,124 23,321 5% Equity attributable to shareholders of the company 20,586 21,749 5% Investment properties 17,254 18,459 7% Interests in joint ventures 4,921 4,809 2% Properties for sale 3,274 3,360
Slide 37: Balance sheet summary – cont'd
Balance sheet summary – cont’D 30 June 31 December (HK$’M) 2025 2024 Total borrowings 6,843 6,826 Net borrowings 4,058 4,464 Gearing ratio 18.3% 19.1% (net borrowings to net assets) Maturity profile of borrowings Repayable: Within one year 1,292 19% 2,089 31% Between one and two years 1,915 28% 473
Slide 38: Appendix
Appendix 38
Slide 39: Five years financial summary
Five years financial summary Interim results Full Year Results 1H 2025 1H 2024 2024 2023 2022 2021 2020 (HK$’M) (Note 1) RESULTS Revenue 442 560 1,031 882 4,097 3,423 2,778 (Loss)/ profit before taxation (1,172) (1,323) (2,522) (769) (152) 1,045 (555) Taxation (17) (39) (54) (43) (172) (127) (61) (L
Slide 40: Five years financial summary – cont'd
Five years financial summary – cont’D As at 30 June As at 31 December 1H 2025 2024 2023 2022 2021 2020 (HK$’M) ASSETS AND LIABILITIES Total assets 29,938 31,086 33,988 35,499 38,739 37,246 Total liabilities (7,814) (7,765) (7,893) (8,172) (10,573) (9,605) Total equity 22,124 23,321 26,095 27,327 28,