SUN HUNG KAI CO (00086) announced its interim results for 2025, reporting total revenue of HK$1.803 billion, a decrease of 3.96% year-over-year; total income of HK$2.8 billion, an increase of 43.47% year-over-year; profit attributable to shareholders of HK$887 million, a surge of 1076% year-over-year; and basic earnings per share of 45.3 HK cents. The company proposed an interim dividend of 12 HK cents per share.
As we have reached mid-2025, despite global markets being affected by tariff volatility and geopolitical tensions, our investment team has still achieved strong risk-adjusted returns. In Hong Kong, DeepSeek's artificial intelligence breakthrough has rekindled global investor confidence, prompting capital reinflow. However, economic growth in Greater China continues to face dual headwinds from weak domestic demand and ongoing structural reforms. In this complex environment, through robust investment returns, strict risk management, and operational flexibility, we have still achieved encouraging performance during the period.
Maintaining a solid balance sheet and ample liquidity remains a key priority, enabling us to invest and capitalize on opportunities during any period of market turbulence. Following the completion of our strategic transformation, our diversified complementary platform is increasingly generating synergies, driving recurring income growth and enhancing long-term shareholder value.
Profit attributable to shareholders reached HK$887 million, an increase of more than 10-fold compared to the same period last year (first half of 2024: HK$75.4 million). This strong recovery was primarily driven by the investment management business, which achieved substantial gains due to increased project exits and improved market sentiment toward China-related assets. Investment management recorded a pre-tax profit of HK$786 million, compared to a loss of HK$147.5 million (restated) in the same period of 2024. Performance improved across virtually all asset classes, including private equity, corporate holdings, hedge funds, special opportunities investments, and structured credit.