Hopson Development Holdings Limited

Financial Highlights

(For the year ended 31 December 2024) Turnover was HK$37,834 million Gross profit was HK$9,558 million and a gross profit margin was 25% Profit attributable to equity holders was HK$120 million Underlying profit was HK$3,123 million Basic and diluted earnings per share was HK$0.03 per share

(28 March 2025 - Hong Kong) Hopson Development Holdings Limited ("Hopson" or the "Company", which together with its subsidiaries, is referred to as the "Group"; stock code: 00754) announced its audited annual results for the year ended 31 December 2024 (the "Year").

In 2024, the current restructuring of the real estate industry has presented both opportunities and challenges for business. As a comprehensive provider of high-quality living experiences across the entire value chain, Hopson has adhered to its core strategy of prudent and steady operations, prioritizing risk control while keeping an eye on the long-term future. At the same time, the Group has remained bold in navigating the complex environment by staying up-to-date with current trends, engaging with customers, and seeking innovation and change. The Group has demonstrated strong market insights through its pioneering breakthroughs in marketing innovation against traditional mindset. By combining innovative thinking with technological empowerment, the Group has built multidimensional core competencies that have enabled its transformation and upgrade from a "product manufacturer" to a "lifestyle setter", making steady progress toward high- quality development. In addition, Hopson actively fulfilled its social responsibility by remaining committed to "ensuring delivery, quality, and people's well-being". Through its "4-in-1" quality control system, the Group has satisfied the diverse needs of its customers in every aspect of living, continuously enhancing its iterative productivity to ensure the steady operation of projects and the on-schedule delivery of high quality products. This commitment has earned a high level of trust from all sectors of society. In terms of financial management, the Group has maintained stable cash flow and impressive profitability. This, coupled with its diverse financing channels, has enabled it to reduce debt size and optimize its debt structure in an organized manner, providing a strong foundation for its long-term sustainability.

During the Year, the Group's turnover was HK$37,834 million. Gross profit amounted to HK$9,558 million with a gross profit margin of 25%. Profit attributable to equity holders was HK$120 million. During the Year, adding back the net loss from investment properties valuation, net of tax of HK$489 million, donations, net of tax of HK$27 million, withholding tax on distribution of profits from subsidiaries of HK$11 million, the net loss from disposal of an associate, net of tax of HK$365 million and provision for impairment of properties under development for sale and completed properties for sale as well as financial assets of HK$2,111 million, the underlying profit amounted to HK$3,123 million, representing an increase of 35%, as compared to last year. Basic and diluted earnings per share was HK$0.03 per share. The board of directors (the "Board") did not recommend any payment of final dividend for the year ended 31 December 2024.

During the Year, the Group recorded total contracted sales of approximately RMB16,629 million. The major projects delivered include Dongsan Jinmao Palace (東叁金茂府), Hopson YUNĒ (合生縵雲) and Hopson MIYĀ (合生me悅) in Northern China, The Town of Hangzhou Bay (合生杭州灣國際新城) in Eastern China, and YUNĒ in Guangzhou (縵雲廣州) in Southern China.

The Group has abundant high-quality landbank in core regions. As at 31 December 2024, the Group had a landbank of 26.80 million sq.m., laying a solid foundation for the Group's sustained profitability in the future.

During the Year, the Group adhered to the goal of stable operations, continued to reduce its debt size as well as optimize its asset-liability structure. As at 31 December 2024, the Group's total liabilities were HK$157,967 million, representing a decrease of 16% as compared to 31 December 2023. The decrease in total liabilities was mainly attributable to the decrease in borrowings. The Group maintained an orderly decline in interest-bearing liabilities and, reduced its debt size for three consecutive years, with a cumulative decrease of approximately 35% and an average annual decrease of over 10%. Net gearing ratio was 64%, a decrease of 7 percentage points as compared with as at 31 December 2023.

Looking ahead to 2025, as a vital pillar of the national economy, the real estate industry will continue to receive support from the Central Government. Adhering to the principle of "houses are for inhabitation, not for speculation", the government will further enhance regulatory policies to promote stable development in the real estate market. In December 2024, the meetings of the Political Bureau of the Central Committee and the Central Economic Work Conference proposed to "stabilize the property and stock markets" and to "stabilize the real estate market and halt the decline with ongoing efforts", respectively. These proposals have set the tone for the property market in 2025, signaling a stronger commitment to stabilizing the market. The real estate market is expected to benefit from multiple positive changes, including policy reinforcement, market recovery, inventory reduction, and improvements in the financing environment. As the industry gradually stabilizes through adjustments, it is entering a new phase of development characterized by greater rationality and robustness.

Facing a complex and dynamic business environment in 2025, Hopson will embrace reforms and proactively respond to industry changes, while closely aligning with national policies and adhering to its core principals. Following its prudent and stable development strategy, the Group will explore the potential for enterprise upgrading, enhancing its comprehensive strengths in the areas of "products, services, allocation and delivery". These efforts will further boost its brand value and reinforce its commitment to the brand philosophy of "enjoying high-quality lifestyle". With steady development, diverse industrial presence, quality products and services, and a strong financial position, the Group will continue to drive high-quality development alongside the industry, reaching the next milestone in its new journey and creating long-term value for its shareholders, customers and society.

For further information, please contact:
iPR Ogilvy
Callis Lau / Emily Chiu / Romy Hong
Tel: 2136 6952 / 3920 7659 / 3920 7650
Email: hopson@iprogilvy.com

© Copyright 1996-2025 irasia.com Ltd. All rights reserved.

DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any information provided on this website. Under no circumstances shall irasia.com Ltd be liable for damages resulting from the use of the information provided on this website. TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website.