Investment Rating - The investment rating for the company is "Buy" (首次) [5] Core Views - The report emphasizes that the company, as a benchmark Hong Kong developer, possesses both resilience and a solid foundation, benefiting from the recovery of the Hong Kong residential market [5][7] - The company has a diversified business model that includes property development, investment properties, and hotel operations, with a significant portion of its land reserves located in Hong Kong [7] - The report highlights the company's strong financial position, with substantial cash reserves and low debt levels, which enhance its ability to capitalize on market opportunities and maintain dividend sustainability [7] Summary by Sections Market Performance - The closing price as of March 27, 2026, is HKD 11.48, with a market capitalization of HKD 108,882 million [3] Financial Forecast and Valuation - Revenue projections for the company are as follows: - 2024: HKD 8,765 million - 2025: HKD 8,183 million - 2026E: HKD 9,185 million - 2027E: HKD 10,261 million - 2028E: HKD 10,848 million - The expected growth rates are -26.2% for 2024, -6.6% for 2025, and positive growth starting from 2026 [6][8] - The projected net profit for the years 2026 to 2028 is as follows: - 2026E: HKD 4,067 million - 2027E: HKD 4,356 million - 2028E: HKD 4,624 million - The corresponding P/E ratios are projected to be 26.77 for 2026, 24.99 for 2027, and 23.55 for 2028 [6][8] Business Operations - The company’s property development segment is expected to recover significantly, with property sales revenue reaching HKD 69.1 billion in the first half of 2026, a year-on-year increase of 172% [7] - The rental income from investment properties is projected to contribute approximately 50% of the operating profit, demonstrating resilience despite market pressures [7] - The company maintains a strong rental occupancy rate of 89.5% across its investment property portfolio, with retail and office occupancy rates at 92.9% and 84.1%, respectively [7] Cash Flow and Financial Health - The company reported a net cash position of HKD 514 billion as of the first half of 2026, indicating minimal debt pressure [7] - The company has consistently maintained a dividend of HKD 0.58 per share from 2023 to 2025, reflecting strong shareholder return stability [7]

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION 此乃要件，請即處理 IF YOU ARE IN ANY DOUBT ABOUT THIS FORM, YOU SHOULD CONSULT YOUR STOCKBROKER, BANK MANAGER, SOLICITOR, PROFESSIONAL ACCOUNTANT OR OTHER PROFESSIONAL ADVISER. 閣下如對本表格有任何疑問，應諮詢 閣下之股票經紀、銀行經理、律師、專業會計師或其他專業顧問。 (Incorporated in Hong Kong with limited liability) (Stock Code 股份代號：83) INTERIM DIVIDEND FOR THE YEAR ENDING 30TH JUNE, 2026 － FORM OF ELECTION 截至二零二六年六月三十日止年度之中期股息－選擇表格 IF YOU WISH TO RECEIVE YOUR DIVIDEND WHOLLY IN CASH, YOU NEED ...

此 乃 要 件 請 即 處 理 閣下如對本通函有任何疑問，應諮詢 閣下之股票經紀、銀行經理、律師、專業會 計師或其他專業顧問。 閣下如已將名下之信和置業有限公司股份全部售出或轉讓，應立即將本通函送交買 主或經手買賣之銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本文件之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本文件全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （股份代號：83） 執行董事： 黃永光，SBS, JP （主席） 陳榮光 李正強 田兆源 廖懿妮 非執行董事： 夏佳理，GBM, CVO, GBS, OBE, JP 獨立非執行董事： 盛智文，GBM, GBS, JP 李民橋，BBS, JP 黃楚標，JP 陳仲尼，NPC Deputy, SBS, BBS, JP 敬啟者： 截至二零二六年六月三十日止年度 之中期股息以股代息 緒言 董事會於二零二六年二月二十七日宣布派發截至二零二六年六月三十日止年度 之中期股息每股本公司普通股（「股份」）0.15港元（「二零二六中期股息」），派予在 二零二六年 ...

EF003 第 1 頁 共 2 頁 v 1.1.1 第 2 頁 共 2 頁 v 1.1.1 免責聲明 EF003 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | | 股票發行人現金股息（可選擇以股份代替）公告 | | 發行人名稱 | 信和置業有限公司 | | 股份代號 | 00083 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年十二月三十一日止六個月的中期股息 | | 公告日期 | 2026年3月23日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 | 更新以下項目(i) 現金股息轉換為代息股份的價格; (ii) 代息股份之首個買賣日期; (iii) 零碎 股份處理方式; 及 (iv) 選擇權截止時限 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2 ...

Group 1 - Hong Kong real estate stocks are generally declining, with notable drops in companies such as Hang Lung Properties (down 3.62% to HKD 9.05), Wharf Real Estate Investment (down 3.27% to HKD 24.28), Cheung Kong Property (down 3.88% to HKD 46.08), and Sino Land (down 2.03% to HKD 11.61) [1] - Federal Reserve Chairman Jerome Powell's speech conveyed a "hawkish" signal, indicating persistent inflation and rising uncertainty in the outlook, suggesting that interest rate cuts will not occur unless there is progress on inflation [1] - The latest dot plot from the Federal Reserve shows expectations for one rate cut this year and another in 2027, although the specific timing remains unclear [1] Group 2 - Huatai Securities noted that the escalating situation in the Middle East is likely to hinder short-term liquidity expectations in Hong Kong, introducing uncertainty for the recovery of the real estate market [1] - In the long term, the changes in the Middle East may enhance Hong Kong's attractiveness for global risk-averse and diversified capital allocation, particularly as Middle Eastern capital has shown a positive inclination towards investment in Greater China, potentially increasing demand for core commercial real estate and high-end residential properties in Hong Kong [1]

Group 1 - Hong Kong real estate stocks are generally declining, with notable drops in companies such as Hang Lung Properties (down 3.62% to HKD 9.05), Wharf Real Estate Investment (down 3.27% to HKD 24.28), Cheung Kong Property (down 3.88% to HKD 46.08), and Sino Land (down 2.03% to HKD 11.61) [1][1][1] - Federal Reserve Chairman Jerome Powell's speech signaled a "hawkish" stance, indicating persistent inflation and increased uncertainty in the outlook, with no interest rate cuts expected unless inflation shows progress [1][1] - The latest dot plot from the Federal Reserve shows expectations for one rate cut this year and another in 2027, although the specific timing remains unclear [1][1] Group 2 - Huatai Securities noted that the escalating situation in the Middle East is likely to hinder short-term liquidity expectations in Hong Kong, introducing uncertainty for the recovery of the real estate market [1][1] - In the long term, the changes in the Middle East may enhance Hong Kong's attractiveness for global risk aversion and diversified capital allocation, particularly as Middle Eastern capital has shown a positive inclination towards investment in Greater China [1][1] - This could potentially lead to increased demand for core commercial real estate and high-end residential properties in Hong Kong [1][1]

敬啟者： （股份代號：83） 二零二五╱二零二六年中期報告（「中期報告」）的登載通知 公司秘書 鄭小琼 代表 信和置業有限公司 信和置業有限公司（「本公司」）的中期報告（英文及中文版本）已在本公司網站www.sino.com及香港交易及結算所 有限公司（「港交所」）網站www.hkexnews.hk登載。 閣下可(i)於本公司網站首頁按「投資者關係（財務報告）」；或 (ii)透過港交所網站，瀏覽中期報告。若 閣下曾要求收取公司通訊（附註2）之印刷本，隨函附上 閣下所選擇之 語言版本的中期報告印刷本。 以電子方式發布公司通訊之新安排 根 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》、《公 司 條 例》（香 港 法 例 第 622 章）及 本 公 司 組 織 章 程 細則，本公司將會透過本公司及港交所網站採用電子方式發布公司通訊，以取代寄發印刷本。本公司將不再以郵 寄方式通知股東有關公司通訊刊發事宜，並僅應股東要求方會向其發送公司通訊之印刷本。若 閣下擬於本公司 刊發公司通訊時收到通知，可於港交所市場網站www.hkexnews.hk「市場數據」項下登記使用「訊息提示」服務，或 聯絡 ...

閣下可隨時提交書面通知，要求收取公司通訊（包括可供採取行動的公司通訊）之印刷本。 閣下可填妥隨附 之申請表作出要求，並以郵寄方式交回本公司或本公司股票登記處，或電郵至sinoland83-ecom@vistra.com。 請注意， 閣下選擇收取日後所有公司通訊印刷本的要求將一直有效，直至被撤銷或取代，或直至本公司於翌年 刊發下一份年報為止（以較早者為準）。若 閣下欲繼續收取日後公司通訊之印刷本，則需要透過郵寄或電郵至 sinoland83-ecom@vistra.com，再向本公司或本公司股票登記處提出書面要求。 信和置業有限公司（「本公司」）的中期報告（英文及中文版本）已在本公司網站www.sino.com及香港交易及結算所 有限公司（「港交所」）網站www.hkexnews.hk登載。 閣下可(i)於本公司網站首頁按「投資者關係（財務報告）」；或 (ii)透過港交所網站，瀏覽中期報告。若 閣下曾要求收取公司通訊（附註1）之印刷本，隨函附上 閣下所選擇之 語言版本的中期報告印刷本。 若 閣下對本函有任何疑問，請於辦公時間內（星期一至星期五，上午9時正至下午5時正，香港公眾假期除外） 致電本公司股票登記處熱線 ...

Financial Performance - For the interim period ending December 31, 2025, the group's unaudited profit attributable to shareholders was HKD 2.22 billion, compared to HKD 2.24 billion in 2024, with a basic earnings per share of HKD 0.24[15]. - The group's net profit attributable to shareholders, after accounting for a revaluation loss of investment properties of HKD 680 million, was HKD 1.53 billion, down from HKD 1.82 billion in 2024, resulting in earnings per share of HKD 0.17[15]. - Total property sales revenue attributable to the group was HKD 6.91 billion, significantly higher than HKD 2.44 billion in 2024[17]. - The board declared an interim dividend of HKD 0.15 per share, consistent with the previous year, to be paid on April 23, 2026[16]. - The company anticipates further growth in property sales as it continues to capitalize on completed projects and market demand[17]. - The group reported property sales revenue of HKD 6.5 billion for 2025, driven by successful launches in Tseung Kwan O, Yuen Long, and Yau Tong[47]. - The company reported a profit of HKD 1,820 million for the period, compared to HKD 1,533 million in the previous period, reflecting a growth of 18.7%[91]. - Total comprehensive income for the period was HKD 1,763 million, compared to HKD 1,656 million in the same period last year, indicating an increase of 6.5%[84]. Property Sales and Development - The group sold 84.6% of the remaining units at St. George's Mansions, 98.8% at The Parkside I, II, and III, and 86.1% at The Parc I, II, and III during the interim period[17]. - The sales revenue from projects completed in the fiscal year 2024/2025 included significant contributions from various properties, including The Parkside and St. George's Mansions[17]. - The group plans to continue its strategy of selling remaining units from past projects, which has shown strong sales performance in the interim period[17]. - The group has multiple new projects for sale, including the Seaview Bay in Tseung Kwan O, which has received pre-sale consent[18]. - The group purchased a residential land plot in Tuen Mun with a floor area of 282,102 square feet, and another mixed-use plot in Kowloon with a floor area of 315,379 square feet[21]. Rental and Hotel Operations - Total rental income for the interim period was HKD 1.708 billion, a decrease of 2.3% year-on-year, while net rental income was HKD 1.356 billion, down 1.5%[23]. - The overall occupancy rate of the investment property portfolio was 89.5%, with residential properties seeing a 3% increase to 92%[23]. - The group’s hotel revenue for the interim period was HKD 822 million, up from HKD 794 million in the previous year, with operating profit of HKD 289 million[28]. - The residential leasing market remains robust, driven by demand from professionals and overseas students, with ONE CENTRAL PLACE achieving a 75% occupancy rate shortly after its launch[27]. - The group’s investment properties and hotels in mainland China, Hong Kong, Singapore, and Sydney total approximately 13.5 million square feet, with 63.2% being commercial[27]. Financial Position and Management - The group's cash and bank deposits amounted to HKD 53.2 billion as of December 31, 2025, with net cash of HKD 51.4 billion after deducting total borrowings of HKD 1.79 billion[33]. - The group's total assets and total equity were HKD 186.56 billion and HKD 170.49 billion, respectively, with a book net asset value per share of HKD 17.98[33]. - The group maintains a strong financial management policy, with 46.2% of total borrowings due within one year[33]. - The company has a total of 5,772,483,136 shares held in trust, with significant portions held by the estate of the late Mr. Huang Tingfang[61]. - The company’s governance structure includes a nomination committee responsible for reviewing board composition and diversity policies[71]. Market and Economic Environment - The overall economic environment in Hong Kong improved significantly in the second half of 2025, with a 21.5% year-on-year increase in the primary residential market transaction volume[44]. - In 2025, inbound travelers from mainland China accounted for 76% of total visitors to Hong Kong, increasing by 11% year-on-year to 37.8 million[29]. - The Hong Kong stock market showed strong performance in 2025, with the Hang Seng Index rising over 28% and an average daily trading volume of HKD 249.8 billion, nearly doubling from the previous year[46]. - The number of new IPOs in Hong Kong reached 119 in 2025, raising over HKD 285.8 billion, a significant year-on-year increase of 225%, making it the top global market for IPO fundraising[46]. Sustainability and Community Engagement - The group received recognition for its sustainability efforts, including being listed as a "Global Industry Leader" in the GRESB real estate assessment[37]. - The group is committed to creating long-term value for stakeholders through sustainable development initiatives[36]. - The group actively participated in community service, providing support to over 1,300 underprivileged families during festive seasons[42]. - The group continues to promote sustainable development through various initiatives, including the "Cherish Water" program, which has engaged nearly 550 participants in conservation activities[40]. - The company has introduced a new sustainability initiative aimed at reducing carbon emissions by 30% by 2025[143]. Strategic Initiatives and Future Outlook - The group is committed to fostering innovation and entrepreneurship, receiving 348 entries for the "Sino-HK Tech Entrepreneurship Competition 2025"[41]. - The group established an AI Development Committee to lead the overall strategic direction in adapting to the influential technology trend of artificial intelligence[49]. - The group is investing resources in training to ensure employees acquire key skills related to AI, enhancing operational effectiveness and driving innovation[49]. - The management emphasized a commitment to maintaining a strong balance sheet, with a debt-to-equity ratio of 0.4[143]. - Future outlook includes a projected revenue growth of 12% for the next fiscal year, driven by new project launches[143].

Group 1 - The core viewpoint of the article highlights the recent stock transfer of Sino Land Company Limited (信和置业) from BNP Paribas to HSBC, with a market value of HKD 22.86 billion, representing 2.12% of the company's shares [1] - Sino Land reported a revenue of HKD 5.185 billion for the six months ending December 31, 2025, reflecting a year-on-year increase of 34.54% [1] - The company's profit attributable to shareholders for the same period was HKD 1.533 billion, showing a year-on-year decrease of 15.77%, with basic earnings per share reported at HKD 0.17 [1] - The company proposed an interim dividend of HKD 0.15 per share [1]