[For Immediate Release]
Financial Highlights
(28 August 2025 - Hong Kong) Hopson Development Holdings Limited (which together with its subsidiaries, is referred to as the "Group"; stock code: 00754) has announced its unaudited interim results for the six months ended 30 June 2025 (the "Period").
During the first half of 2025, while setting foothold in the new industry norm, as characterised by the co-existence of profound adjustments and revival opportunities, real estate developers must encounter a complex yet everchanging market environment. The Group, as a high-quality lifestyle service operator in the industry, has been successful in seizing industry opportunities amid the challenges, adhering to a prudent and sound business strategy while, via its brand entry barrier and customer loyalty in the high-end market, rapidly expanding its construction and sales agency business to optimize its business structure on an ongoing basis and actively putting into practice its philosophy of building "quality housing". Riding on its superb market insight and marketing innovation, the Group breaks away from traditional constraints while thoroughly integrates innovative thinking and technological empowerment to develop a full-cycle service ecosystem from "product delivery" to "lifestyle customisation", enabling it to gradually transform into a "lifestyle setter" and steadily accomplish high-quality development. In addition, the Group actively fulfills its social responsibility by remaining committed to "ensuring delivery, quality, and people's well being" and ensuring the high-quality delivery of numerous projects through its "4-in-1" quality control system. In terms of financial management, the Group continues to promote the effective implementation of a diversified financing strategy to ensure sufficient cash flow and healthy performance, effectively enhancing general financial resilience and risk resistance capabilities. The accumulation of high-quality land reserves has laid a solid foundation for long-term sustainable development and demonstrated strong resilience amid industry alignment.
During the Period, the Group's turnover was HK$6,471 million. Gross profit amounted to HK$2,552 million with a gross profit margin increased from 27% to 39% year-on-year. This was mainly due to the increase in revenue from the high profit margin commercial properties investment business as a proportion of the Group's total revenue. Loss attributable to equity holders was HK$1,732 million. During the Period, after adding back net loss on valuation of investment properties after tax of HK$70 million, donations after tax of HK$15 million, net loss on disposal of an associate of HK$1,810 million, loss on disposal of assets after tax of HK$4 million, an impairment provision of HK$623 million for properties under development for sale, completed properties for sale and financial assets, the underlying profit amounted to HK$790 million. Basic and diluted losses per share was HK$0.46. The board of directors (the "Board") does not recommend the payment of any interim dividend for the six months ended 30 June 2025.
During the Period, the Group recorded total contracted sales of RMB7,928 million and delivered finished properties with a total gross floor area of 125,754 sq.m. The major projects delivered included YUNĒ in Guangzhou (縵雲廣州), Hopson MIYÁ (合生me悅), Hopson YUNĒ (合生縵雲), Hopson Shidai City (合生時代城) and The Town of Hangzhou Bay (合生杭州灣國際新城).
The Group has an abundant, high-quality land bank in core regions. As at 30 June 2025, the Group had a landbank of 26.56 million sq.m., laying a solid foundation for the Group's sustained profitability in the future.
During the Period, 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 30 June 2025, the Group's total liabilities were HK$157.70 billion, remaining largely unchanged from 31 December 2024. The Group has maintained an orderly reduction in interest-bearing liabilities, continuously lowering its debt size for several consecutive years since the end of 2021, with a cumulative decrease of approximately 39% and an average annual decrease over 11%. Net gearing ratio was 63%, a decrease of 1 percentage point as compared with as at 31 December 2024.
Looking ahead to the second half of the year, the real estate industry is entering a critical turning point, and the policy attitude changes from encouraging supply to supporting supply quality. Expectations for easing domestic monetary policy continue to strengthen, further strengthening the economic foundation for stabilizing the real estate market. The officials have released a signal to "stabilize the real estate market and halt the decline with greater efforts", and are expected to make comprehensive efforts to stabilize the market around the four key dimensions of stabilizing expectations, stimulating demand, optimizing supply, and resolving risks. Considering that the sales base rose significantly in the fourth quarter of last year driven by a package of policies, it is expected that the year-on-year decline in sales in the second half of the year may increase slightly compared with the first half of the year, but the entry of high-quality projects in core cities is expected to continue the market recovery trend. "Quality cities + quality houses" still have structural opportunities. With the full implementation of urban renewal and land acquisition and storage policies, the industry's inventory pressure is expected to further improve, and the real estate market is expected to accelerate the realization of a new dynamic balance between supply and demand, thus gradually moving towards high-quality development.
The industry has entered the stage of refined competition. Upholding the spirit of facing challenges head-on, the Group actively responds to the continuous evolution of the industrial landscape, closely cooperates with national policy guidance, continues to pursue a prudent and stable tone, deepens its diversified business strategy, focuses on improving the core capabilities of the enterprise, and strengthens profit resilience while strictly maintaining financial security. In the face of the market's higher requirements for asset operation efficiency, the Group will focus on optimizing the global layout, cultivating brand assets, further enhancing market recognition, building a diversified talent echelon, and upgrading the operational level in a comprehensive manner. At the same time, we are seizing policy implementation and urban development opportunities. Relying on its brand and operational strength accumulated over the past 30 years, the Group will continue to explore new real estate development models, and is committed to creating a better life for the people and creating sustainable long-term value for shareholders, customers and society.
For further information, please contact:
| iPR Ogilvy | |
| Callis Lau / Emily Chiu / Romy Hong | |
| E-mail: | hopson@iprogilvy.com |
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