Wing Tai Properties Limited · HKEX:369
Wing Tai Properties — FY2025 Earnings Presentation
38 slides from Wing Tai Properties's earnings presentation, March 2026
Slide 1: Wing Tai Properties Limited Annual Results 2025
Wing Tai Properties Limited Annual 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 2025 • Key Achievements • Land Bank • Business Review • Property Development • Property Investment & Management • Hospitality Investment & Management • Solid Capital Structure • Prospects • 2025 Results Highlights • Appendix
Slide 4: A Snapshot of 2025
A Snapshot of 2025
Slide 5: Key Achievements
Key Achievements • We launched the pre-sale of UNI Residence, our joint-venture residential project near Tai Wai and Hin Keng MTR stations, in May 2025, achieving a 66% sell-through rate to date. Riding this momentum, we launched the pre-sale of Cloudview in early March 2026. This 85%-owned project,
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 2 3 30 Gresham Street 4 5 No.1 Savile Row 10 Fleet Place 4 1 7
Slide 8: Land bank (as at 31 December 2025)
Land bank (as at 31 DECEMBER 2025) Land Bank Overview (sq.ft.) Strategic land bank with focus in Hong Kong Valuation Investment Property Attributable as at 31 Property Hong Kong London Others Total Development 83% Gross Floor Area / December 17% (’000 sq. ft.) (’000 sq. ft.) (’000 sq. ft.) (’000 sq.
Slide 9: Business Review
Business Review 9
Slide 10: Property Development
Property Development 10 *Artist impression
Slide 11: Sale and development pipeline (As at 31 December 2025)
Sale and development pipeline (As at 31 DECEMBER 2025) Project pipeline Available Attributable Estimated Completion Saleable Saleable Group’s Area / Area / Property Development Portfolio Interest 2030 Gross Gross 2026 2027 2028 2029 and Floor Area Floor Area beyond (’000 sq. ft.) (’000 sq. ft.) Hong
Slide 12: Project Under Development in Hong Kong
Project Under Development in Hong Kong Central Crossing • Combined gross floor area of approximately 433,500 sq. ft. • Mixed-use development comprises Grade A offices, luxury international hotel under the Andaz brand by Hyatt, retails and a green open space • The first and only Grade A office develo
Slide 13: Project Under Development in Hong Kong – cont'd (Cloudview)
Project Under Development in Hong Kong – cont’D Cloudview (765 units), near Sheung Shui MTR Station • Saleable area of approximately 253,000 sq. ft. for 765 residential apartment units • Medium-density residential development adjacent to Fanling Golf Course • Superstructure work is in progress • Pre
Slide 14: Project Under Development in Hong Kong – cont'd (UNI Residence)
Project Under Development in Hong Kong – cont’D UNI Residence (240 units), near Tai Wai and Hin Keng MTR stations • Saleable area of approximately 77,000 sq. ft. for 240 residential apartment units • Launched pre-sale in May 2025 and achieved a 66% sell-through rate to date • Superstructure work is
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 99% of the residential units were sold as at 31 December 2025 15
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 99% of the residential units were sold as a
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.) 31 December 2025 Grade A Offices Landmark East (AIA Kowloon Tower/ 1,338 85% AXA Tower) Industrial Property Shui Hing Centre* 187 71% Le Cap 34 100% Residential Properties La Vetta 72^ 88% * Obtained the Town Planning
Slide 19: Investment portfolio in London
Investment portfolio in london 1) Commercial Property at Savile Row/Vigo Street, West End • Wholly-owned • Net internal area of approximately 14,000 sq. ft. of Grade A office and retail space • Currently under refurbishment while the retail space is fully leased 2) Commercial Property at Cavendish S
Slide 20: Investment portfolio in London (cont'd)
Investment portfolIo In lonDon (cont’D) 4) 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 5) Commercial Property at Gresham Street, City of London • Group’s interest of 50% • Net int
Slide 21: Hospitality Investment & Management
HOSPITALITY INVESTMENT & MANAGEMENT 21 Lanson Place Grand Bayview, Qianhai, Shenzhen
Slide 22: 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 23: Hospitality portfolio – cont'd
Hospitality portfolio – cont’D Lanson Place Properties – Management Lanson Place Grand Bayview, Qianhai, Shenzhen 1,028 units Lanson Place Parkside, Shanghai 182 units Yiju Apartment, Shanghai Shenzhen Shenzhen 1,610 units Hong Kong Two MacDonnell Road, Hong Kong 216 units Lanson Place Winsland, Man
Slide 24: 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 has registered improvements in both occupancy and the av
Slide 25: 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$260 million 4.35% unrated senior guaranteed perpetual capital securities, a reflection of strong market recognition and confidence in our financial position. •
Slide 26: Prospects
PROSPECTS 26 *Artist impression
Slide 27: Prospects
PROSPECTs • The emergence of the Iran crisis in early March 2026 has triggered a surge in oil prices and heightened inflation expectations, intensifying global market volatility alongside existing tariff and geopolitical tensions. While the full impact and duration of this crisis remain uncertain, w
Slide 28: Prospects – cont'd
PROSPECTs – cont’D • Investment and leasing sentiment for Central commercial properties is improving, driven by renewed interest from Chinese Mainland enterprises and global financial institutions viewing Hong Kong as a critical hub for international expansion. Recent transactions and leasing commit
Slide 29: 2025 Results Highlights
2025 Results Highlights 29 *Artist impression
Slide 30: Financial results summary
Financial results summary For the year ended 31 December (HK$’M) 2025 2024 Revenue 969 1,031 6% Gross profit 514 635 19% Loss from operations (1,584) (1,900) 17% Share of results of joint ventures and an associate (48) (571) 92% Loss attributable to shareholders of the company (1,714) (2,560) 33% Ne
Slide 31: Financial results summary – cont'd
Financial results summary – cont’D For the year ended 31 December 2025 2024 Basic loss per share (HK$) (1.26) (1.89) 33% Core earnings per share (HK$) 0.09 0.07 29% Final dividend per share (HK cents) 4.0 4.0 No change Total dividend per share (HK cents) 7.0 7.0 No change Total dividends (HK$’M) 96
Slide 32: Segment results overview
Segment results overview For the year ended 31 December (HK$’M) 2025 2024 Property Development ➢ Revenue (excluding inter-segment sales) 253 325 ➢ Loss before taxation (829) (1,454) ➢ Net valuation loss and impairment provision on properties and financial (705) (1,439) instruments including joint ve
Slide 33: Segment results overview – cont'd
Segment results overview – cont’D For the year ended 31 December (HK$’M) 2025 2024 Hospitality Investment & Management ➢ Revenue 157 86 ➢ Loss before taxation (133) (260) ➢ Net valuation loss on properties including joint ventures (86) (156) ➢ Core loss before taxation (47) (104) Others ➢ Revenue 42
Slide 34: Balance sheet summary
Balance sheet summary 31 December 31 December (HK$’M) 2025 2024 Total assets 29,677 31,086 5% Net assets 21,541 23,321 8% Equity attributable to shareholders of the company 20,016 21,749 8% Investment properties 16,631 18,459 10% Interests in joint ventures 5,449 4,809 13% Properties for sale 3,368
Slide 35: Balance sheet summary – cont'd
Balance sheet summary – cont’D 31 December 31 December (HK$’M) 2025 2024 Total borrowings 7,103 6,826 Net borrowings 4,769 4,464 Gearing ratio 22.1% 19.1% (net borrowings to net assets) Maturity profile of borrowings Repayable: Within one year 1,293 18% 2,089 31% Between one and two years 4,840 68%
Slide 36: Appendix
Appendix 36
Slide 37: Five years financial summary
Five years financial summary Full Year Results 2025 2024 2023 2022 2021 (HK$’M) (Note1) RESULTS Revenue 969 1,031 882 4,097 3,423 (Loss)/ profit before taxation (1,660) (2,522) (769) (152) 1,045 Taxation (32) (54) (43) (172) (127) (Loss)/ profit for the year (1,692) (2,576) (812) (324) 918 Attributa
Slide 38: Five years financial summary – cont'd
Five years financial summary – cont’D As at 31 December 2025 2024 2023 2022 2021 (HK$’M) ASSETS AND LIABILITIES Total assets 29,677 31,086 33,988 35,499 38,739 Total liabilities (8,136) (7,765) (7,893) (8,172) (10,573) Perpetual capital securities (1,491) (1,491) (1,491) (1,491) (1,513) Non-controll