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Hong Kong company reporting season

Sun Hung Kai Properties is gearing up to launch a number of projects in Hong Kong and the mainland. Photo: Roy Issa

SHKP gears up for rate cuts with slew of Hong Kong property projects

Hong Kong’s largest developer by market cap posted a 20 per cent drop in net profit to HK$19.04 billion (US$2.44 billion) for the year ended June.

Hong Kong’s largest developer by market cap posted a 20 per cent drop in net profit to HK$19.04 billion (US$2.44 billion) for the year ended June

5 Sep 2024 - 9:28PM

Struggling Country Garden again seeks to extend bond repayments

5 Sep 2024 - 2:42PMvideocam

China Vanke reports first interim loss in two decades as home sales plunge

30 Aug 2024 - 9:00PM

Shimao’s losses widen 90% as China’s property slump shows no recovery in sight

Shanghai-based Shimao posted an interim loss of 22.7 billion yuan (US$3.2 billion) compared with 12 billion yuan a year earlier. Peers Kaisa, Fantasia and Sunac also struggled with poor home sales.

30 Aug 2024 - 11:25AMvideocam

Liquidation hearing against Shimao has been adjourned until December 16 as the troubled developer tries to gain creditors’ support for its restructuring proposal. Photo: Bloomberg

Sensetime’s generative AI growth pushes revenue up 21% in first half

Revenue for the Chinese AI giant reached US$244.3 million for the first six months of 2024, but traditional AI revenue has more than halved.

28 Aug 2024 - 3:00PM

Prudential posts surprise interim profit drop due to investment losses

Profit from new business, a key measure of sales and the future growth of insurance companies, increased 8 per cent to US$1.47 billion, bolstered by improving sales in Southeast Asia and on the mainland.

29 Aug 2024 - 1:58PM

China Resources Land posts lowest first-half profit since 2018 amid slump

China’s property sector has been beset by woes since 2020, when Beijing introduced the “three red lines” policy to restrict developers’ borrowing binge.

28 Aug 2024 - 5:43PMvideocam

CR Land, the 5th-ranked Chinese developer by sales, reported xx billion yuan of home sales for the first half. Photo: Shutterstock

Nongfu Spring’s profit growth stalls amid fierce price war in China

The Hangzhou-based company’s first-half profit rose 8 per cent to 6.24 billion yuan (US$876 million), narrowly beating estimates of 6.17 billion yuan

27 Aug 2024 - 9:45PM

Anta’s interim profit jumps as its ‘Dragon’ Olympic kit boosted sales

Anta’s red-and-white tracksuit, officially named the ‘Champions Dragon Outfit’, used embossing, patchwork and embroidery to create motifs to represent the scales on the dragon’s skin.

27 Aug 2024 - 10:28PM

Bank of East Asia touts commitment to SMEs amid a 20% first-half profit slump

The family-owned Hong Kong lender says it will continue to conduct SME business, amid concerns that many such firms face liquidity strain.

22 Aug 2024 - 5:34PM

A man walks by a Bank of East Asia branch in Central on February 21, 2024. Photo: May Tse

Debt-laden Kaisa warns of wider losses, echoing China’s property crisis

The developer’s weak report card is likely to resemble those of most mainland Chinese developers, which are expected to extend a losing streak dating to 2020.

22 Aug 2024 - 3:40PMvideocam

Kaisa has made efforts to convince most of its creditors to support its restructuring plan. Photo: Reuters

Mainland Chinese buying spree boosts AIA’s first-half profit 53%

Asia’s largest insurer posted its best first-half profit in five years at US$3.31 billion and beat analysts’ estimates of US$3.27 billion.

22 Aug 2024 - 6:34PM

HKEX posts best second quarter on record as IPOs, trading rebound

The operator of Asia’s third-largest stock market reported 9 per cent profit in second-quarter earnings, recording its first quarterly growth in nine months.

21 Aug 2024 - 6:27PMvideocam

China’s top sportswear maker stumbles in consumption slowdown

The company plans to use the recently concluded Olympics to increase consumer interest in sports and strengthen Li Ning’s brand perception, co-CEO Qian Wei says.

16 Aug 2024 - 6:09PM

Li Ning opened 229 new stores in the first half of the year, taking the total to 7,677. Photo: Getty Images

Beike defies China’s real estate slump with surprise profit growth

The strong performance, due to increasing transactions in the secondary market of lived-in homes and rental property, offers a counterview and relief to China’s years-long property slump.

13 Aug 2024 - 5:45PM

Beike’s booth during the China (Beijing) International Audiovisual Conference at the Beijing Exhibition Centre on November 20, 2020. Photo: VCG/VCG via Getty Images.

Hong Kong’s Cathay reports 15.3% drop in year-on-year profits in first 6 months

Group chairman Patrick Healy attributes ‘strong’ results to robust travel demand and announces first post-pandemic interim dividend payment.

7 Aug 2024 - 11:30PM

KFC, Pizza Hut’s China owner beats estimates as low-price strategy draws diners

The fast-food chain posted a net profit of US$212 million for the April to June quarter, beating analysts’ estimates of US$190 million.

6 Aug 2024 - 8:15PMvideocam

Wharf REIC posts interim loss as Hong Kong property values, office demand weaken

One of Hong Kong’s top commercial landlords reported a HK$1.1 billion (US$135 million) interim loss after booking a big erosion in the value of its investment properties.

6 Aug 2024 - 6:02PMvideocam

Tourists and shoppers seen along the city’s retail strip in Tsim Sha Tsui, Hong Kong in June 2024. Photo: Jelly Tse

HSBC sets aside US$3 billion to buy back shares after surprising quarter

Hong Kong’s biggest currency-issuing bank announced a new round of share buy-back after reporting profits that were better than market expectation.

31 Jul 2024 - 4:54PM

Hang Lung Properties’ profit sinks 56% amid Hong Kong, mainland China slowdown

First-half net profit fell to HK$1.06 billion (US$135.7 million), from HK$2.39 billion a year earlier on lower rental revenues, higher costs.

30 Jul 2024 - 5:05PM

Standard Chartered announces record share buy-back after profits beat estimates

The Hong Kong-listed bank, which reported a 15 per cent increase in second-quarter pre-tax profit to US$1.8 billion, said it would buy-back US$1.5 billion of shares.

30 Jul 2024 - 4:36PM

Standard Chartered reported upbeat profits for the second quarter on the back of improved performance by its wealth division. Photo: Bloomberg

Wharf, REIC warn of rare losses as foot traffic falls at Hong Kong malls

The rare warnings show how Hong Kong’s consumption slump is trickling down to the bottom lines of the city’s shopping centre operators and landlords.

29 Jul 2024 - 4:43PM

A view of Times Square shopping mall during the Easter public holidays on 31 March 2024. Photo: Martin Chan

Beauty chain Sa Sa’s profit soars as mainlanders return to shop in Hong Kong

Hong Kong beauty products retailer Sa Sa International saw its profit jump almost fourfold in the last financial year as the number of mainland Chinese tourists returning to shop in the city continued to rise.

20 Jun 2024 - 7:39PMvideocam

Tesla rival Li Auto reports big drop in earnings, margins in warning to EV peers

Tesla’s closest rival in China’s EV market reported a major setback in the first quarter, after earnings and deliveries slumped from the preceding three months. Margins eroded amid price discounting.

20 May 2024 - 7:38PMvideocam

Alibaba, Tencent beat forecasts, auguring well for China’s earnings

Strong financial results by the two companies are the touchstones of the earnings growth that global investors are looking for, as they debate whether China’s post-pandemic recovery was a flash in the pan.

15 May 2024 - 9:04AM

Workers sort packages at a logistics company in the China’s Hunan province on November 12, 2021, a day after the annual Singles’ Day online shopping gala. Photo: AFP

Alibaba chairman Joe Tsai voices confidence in Chinese consumer spending

Confidence among Chinese consumers was showing ‘early signs of growth’, according to Alibaba chairman Joe Tsai, as the e-commerce giant expects business to be back on the growth path this year.

15 May 2024 - 12:54PM

Tencent profit jumps 62% as tech giant returns to growth on back of strong ad revenue

The social media and video gaming giant saw revenue rise 6 per cent in the first quarter, with online advertising revenue growing 26 per cent year.

14 May 2024 - 10:54PM

MGM China sees revenue soar as it achieves its highest ever market share

The Macau casino operator announced better-than-expected first-quarter earnings and has set its sights on maintaining its highest ever share of the mass market gaming segment.

2 May 2024 - 9:21PMvideocam

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Hong Kong company reporting season

Late July is reporting season for Hong Kong's publicly traded companies. This is the time when investors, analysts and traders scrutinise balance sheets and profts of companies to make decisions on whether to invest or sell up. The information delivered in these reports can often herald a significant shift in shares for listed companies

last updated:

9 September, 2024