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Hong Kong company reporting season

The Tencent headquarters in Shenzhen, China’s southern Guangdong province. Photo: AFP

Tencent beats estimates with 47% profit jump, driven by video gaming

Video gaming sales, traditionally Tencent’s strongest revenue driver, grew 14% in the domestic market.

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China’s stocks see ever-slimmer profits as economic slump hits hard

Standard Chartered to focus on wealth business, sell units after upbeat earnings

HSBC results beat forecasts; bank dismisses rumours about unit spin-offs

Net profit rose 9 per cent to US$6.13 billion in the quarter that ended on September 30, exceeding market forecasts.

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Pedestrians walk past at HSBC Tsim Sha Tsui Branch in Tsim Sha Tsui. Photo: Jelly Tse

HKEX’s third-quarter profit rises 7% on IPOs, turnover

Funds raised from IPOs in the June to September quarter reached HK$42.2 billion, six times higher than a year earlier.

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Hong Kong’s New World taps outsider for turnaround after record loss

Adrian Cheng Chi-kong stepped down as New World’s CEO, handing over to Eric Ma Siu-cheung the job that he had held for four years.

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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.

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

Struggling Country Garden again seeks to extend bond repayments

The Foshan-based developer said that it plans to postpone for six months the coupon and principal instalment payments on nine notes due this month.

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

The loss came in 9.4 per cent higher than the top of a range the company defined in a warning last month as home sales plunged nearly 38 per cent.

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.

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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.

Visitors play Go against SenseRobots displayed at the SenseTime booth during the World Robot Conference in Beijing on August 21, 2024. Photo: Reuters

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.

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.

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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

Nongfu Spring is China’s largest bottled-water maker. Photo: Jelly Tse

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.

Anta sportswear store is pictured in a shopping mall in Beijing on Nov. 18, 2023. Photo: Simon Song

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.

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.

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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.

AI declared a first-half interim dividend of HK$0.445 per share, an increase of 5.2 per cent from a year earlier. Photo: Bloomberg

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.

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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.

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.

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.

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Cathay says it has restored passenger capacity to 80 per cent of pre-pandemic levels so far. Photo: May Tse

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.

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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.

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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.

Signage outside HSBC’s headquarters in Hong Kong. Photo: Bloomberg

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.

Shares of Hang Lung Properties sank 12.7 per cent on Tuesday, the most in 24 years. Photo: Shutterstock

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.

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.

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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
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