Wharf Real Estate Inv Co (WRFRF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon everyone. Welcome to World Rake Final Results presentation. I am Angela Ng from the IL team. You can download the PowerPoint presentation from the QR code on this LED wall. Our management presenting today includes Mr. Steven Ng, Chairman and Managing Director, and Mr. Horace Lee, Director. Before I go through the PowerPoint presentation, let me first invite the Chairman for an opening remarks. Welcome to all of you and a very belated Happy New Year. last year 2025 was certainly not an easy year for investment properties in Hong Kong you all know about the oversupply and then the weak demand in spite of that we did as well as we could but the big difference last year was of course interest savings so the world was going through a strange time and continues to do so. Two weeks ago we started to write reports for today's board meeting and for the announcements. and then of course in the middle of it you all know what happened and so we had to quickly scramble and redo parts of it it's a great deal of uncertainty and if you attended some of our peers briefings results briefings two weeks ago and you if you were to ask them the same question today they may be giving you a very different answer in a way we're fortunate we have the benefit of being two weeks later but we still don't have the answer so with that I'd like to hand back to Angela and we'll chat afterwards thank you chairman So let me start the presentation. The theme for the presentation is Market Challenges Dampen Group Profitability. First of all, let's take a look at the results highlights. In 2025, Hong Kong's economy showed tentative signs of improvement, but global risks and uncertainties continue to create external headwinds, which have weighed on the group's profitability. During the year...