Hysan's basic profit fell 3.4% in the first half of the year, dividends maintained 27 cents, retail sales fell 10%

Financial News

Written by: Lin Leqian

2020-08-10 12:40

Hysan (0014) announced that it turned from profit to loss in the first half of the year. During the period, it recorded a loss of 2.63 billion yuan, and a profit of 2.78 billion yuan in the same period last year; after deducting changes in the fair value of investment properties, basic profit recorded 1.35 billion yuan, a slight year-on-year decrease 3.4%, with a dividend of 27 sen per share, the same as last year.

During the period, turnover fell by 5% to 1.98 billion yuan, and the fair value loss of investment properties reached 4.065 billion yuan, mainly reflecting the increase in capitalization rate due to the increase in market risks caused by adverse factors in the retail business, and the impact of the office building business on the global economy. The performance is weak due to the influence of clear factors.

The occupancy rate of the group's office and retail business portfolio was 96% and 94%, respectively, while the occupancy rate of the residential business was 83%. Among them, the turnover of the retail business portfolio fell 10% to 900 million yuan, including 20 million yuan in rent collected based on turnover.

Group Chairman Li Yunlian said that the uncertain trend of the new crown pneumonia epidemic and macro-geopolitical issues are still factors that determine Hong Kong’s economic prospects in the second half of this year; coupled with other economic factors, it is changing people’s lives at a faster rate than expected. . With a balanced business portfolio, a sound financial position, ample liquidity, and a forward-looking development strategy, the group will provide the group with the ability to withstand crises.

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Hysan