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<Research>UBS: SHK PPT (00016.HK) Full-yr Core Profit in Line; CN Retail Shows Signs of Improvement
SHK PPT (00016.HK)'s FY2025 core profit was $21.9 billion, up 1% YoY, largely in line with UBS' expectation, UBS released a research report saying. However, the profit marg...
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<Research>UBS: SHK PPT (00016.HK) Full-yr Core Profit in Line; CN Retail Shows Signs of Improvement
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SHK PPT (00016.HK)  +0.350 (+0.380%)    Short selling $74.99M; Ratio 23.258%   's FY2025 core profit was $21.9 billion, up 1% YoY, largely in line with UBS' expectation, UBS released a research report saying. However, the profit margin of Hong Kong property development significantly dropped to 12% in FY2025, compared to 26% last year. UBS estimated its stock price to react slightly negatively to this disappointing profit margin.

SHK PPT's rental income in Hong Kong remained weak, while mainland retail showed signs of improvement. In 2HFY2025 (January to June 2025), SHK PPT's attributable gross rental income in Hong Kong decreased by 3% YoY, with office rents down 5% and retail rents down 3%.

Related NewsSHK PPT Annual Underlying Profit $21.85B In Line; Final DPS $2.8
Therefore, UBS kept its target price for SHK PPT at $96, based on a 50% discount to its net asset value per share of $189, and slightly lowered its FY2026-2027 earnings forecasts by 1-4% to reflect the latest property development booking, with rating at Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-09-08 16:25.)

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