HYSAN DEV(HK:00014) Ge Long Hui·2026-02-26 04:10Core Viewpoint - Hysan Development Company Limited reported a slight increase in revenue and a decrease in recurring profit for the fiscal year ending December 31, 2025, while maintaining a strong basic profit growth and a stable dividend payout [1] Group 1: Financial Performance - The company's revenue for the fiscal year was HKD 34.64 billion, representing a year-on-year growth of 1.6% [1] - Recurring basic profit decreased by 1.9% to HKD 19.18 billion, while basic profit increased by 28.3% to HKD 25.10 billion [1] - The company maintained a second interim dividend of HKD 0.81 per share [1] Group 2: Business Segments - The retail segment saw a revenue increase of 2.6% year-on-year, benefiting from the entry and expansion of luxury brand flagship stores, with tenant sales recording double-digit year-on-year growth in the second half of 2025 [1] - The office segment's revenue remained stable, with the occupancy rate in Hong Kong increasing from 90% to 94%, mitigating downward pressure on renewal rental levels despite challenges in the leasing market [1] Group 3: Market Outlook and Projects - The Hong Kong residential market showed a robust recovery in 2025, providing stronger leasing and sales momentum for the company [1] - Ongoing projects, including the Lee Gardens Connection and Lee Gardens Phase 8, are progressing as planned, with a complete renovation of the Lee Gardens set to be unveiled in the second half of 2026 [1] Group 4: Capital Management - The company initiated an HKD 8 billion five-year capital recycling program to enhance its financial position and long-term value, achieving 26% of its capital recycling target within 2025 and raising HKD 2.1 billion [1]