Winfair Investment Company Limited released its audited results for the year ended 31 March 2026, reporting a markedly narrower net loss of HK$5.86 million, down 92.2% from HK$74.72 million a year earlier. The sharp improvement stemmed chiefly from a lower fair-value loss on investment properties, which fell to HK$34.12 million from HK$108.91 million in FY2025.

Revenue slipped 1.7% year on year to HK$21.08 million, reflecting a 2.2% drop in property-leasing income to HK$14.92 million and broadly flat securities-investment dividend income of HK$6.15 million. Other revenue and gains declined 26.7% to HK$16.35 million, weighed by softer bank-interest income and reduced fair-value gains on trading securities.

Segmentally, the leasing division generated HK$10.58 million in operating profit before valuation effects, a 2.8% decrease. After accounting for the reduced—but still material—revaluation loss, the leasing arm recorded a HK$23.53 million segment loss. Securities investments delivered HK$19.29 million in segment profit, supported by a HK$14.71 million fair-value gain on equity instruments at fair value through profit or loss (FVTPL), versus HK$18.50 million a year earlier.

The balance sheet remained resilient. Total assets were broadly stable at HK$1.01 billion, while net assets edged down marginally to HK$1.01 billion, equivalent to HK$25.19 per share. Investment properties were revalued at HK$713.70 million (-4.6% year on year). Listed equity portfolios increased to HK$160.48 million from HK$126.81 million, split between HK$71.17 million in long-term FVTOCI holdings and HK$89.32 million in FVTPL positions. Cash and bank balances were steady at HK$132.87 million, and the Group remained debt-free, keeping its gearing ratio at zero.

Capital commitments related to the redevelopment of investment properties totaled HK$66.05 million, of which HK$12.05 million is contracted. Management continues to defer the 31 Fuk Tsun Street redevelopment given tight credit conditions, while the Lam Tei land-use conversion is at a final discussion stage with authorities.

The Board has proposed a final dividend of HK$0.12 per share, unchanged year on year, to be paid on or about 30 September 2026. Including the HK$0.02 interim dividend paid in January, the total dividend for FY2026 remains HK$0.14 per share, absorbing HK$5.60 million.

Management expects Hong Kong’s operating environment to stay challenging amid evolving consumption patterns and cautious bank lending, but points to a strengthened securities portfolio and robust liquidity as support for ongoing project evaluations and long-term growth initiatives.