Sands China Ltd (01928) opened lower but moved higher during the session, with gains approaching 3% at one point. At the time of writing, the stock was up 2% to HK$18.87, with a turnover of HK$129 million. On the news front, Sands China announced its 2025 results on the evening of February 13. Total net revenue reached $7.44 billion, representing a 5.1% year-on-year increase. Net profit stood at $896 million, down 14.3% compared to the previous year. Adjusted property EBITDA was $2.31 billion, a slight decrease of 0.7% year-on-year. Earnings per share were 11.08 cents. The final dividend per share was HK$0.50, doubling from the prior year. The company noted that despite growth in revenue and its market share of gaming gross revenue, higher sales and marketing costs to attract customers to its properties, along with increased wage expenses due to competitive conditions, led to an overall decline in adjusted property EBITDA.