Mtr Corp Ltd U/Adr (MTCPY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Friends of the media, greetings. I am Linda Choi, Director, Corporate Affairs and Branding. Welcome to the 2026 Interim Results Announcement for MTR. First of all, to introduce our representatives on this stage, seated in the middle is our CEO, Miss Jenny Yeung. On her right are Mr. David Tang, Managing Director, Property and International Business, and Mr. Wilson Kwong, Hong Kong Transport Services Director. And on Ms. Yeung's left are Mr. Michael Fitzgerald, Finance Director, Mr. Carl Deflin, Capital Works Director, and also Mr. Sami Wong, Chinese Mainland Business Director. The session will be held mainly in Chinese today. First of all, Ms Yeung will succinctly go through the 2026 interim results, and after that, Mr Michael Fitzgerald will briefly go through the financials. First of all, Ms Jenny Yeung. Please. And then she will be speaking in English to go through the summary. We will have a Q&A session in the end but because of time limitation as we want to very much answer all your questions if we cannot do so because of time limitation we seek your understanding. Jenny Pleas. Greetings. Good afternoon, ladies and gentlemen. In the first half of 2026, although the macroeconomic environment remained complex and evolving, Hong Kong's overall economy and market conditions have shown signs of recovery, while the property market stabilised. We made progress across transport services, new railway projects and property development. As we reached new milestones in network expansion, we continued to strengthen our core businesses. Patronage on the railway network recorded growth, while rental reversions for malls and station shops continued to narrow. Several new projects in the Chinese mainland and overseas also commenced. Recurrent business profit increased slightly t...