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Sino Land is Well-Positioned to Capitalise on Opportunities Stable Interim Dividend at HK15 Cents per Share
- The Group’s unaudited underlying profit attributable to shareholders, excluding the effect of fair-value changes on investment properties for the six months ended 31 December 2024 (“Interim Period”) was HK$2,241 million (2023: HK$2,945 million).
- Steady interim dividend at HK15 cents per share.
- Attributable revenue from property sales for the Interim Period, including share from associates and joint ventures, was HK$2,448 million (2023: HK$6,635 million). Five new residential projects scheduled for launch in 2025.
- The Group has a visible pipeline for property sales recognition. Approximately HK$11.3 billion of total attributable contracted sales are yet to be recognised, with approximately HK$9.1 billion expected for recognition in the second half of FY2024/2025.
- Attributable gross rental revenue, including share from associates and joint ventures, was HK$1,748 million (2023: HK$1,777 million).
- The Group’s hotel revenue, including attributable share from associates and joint ventures, was HK$794 million compared with HK$811 million in the same period last year. Gross operating profit was HK$261 million, an increase of 2.8% compared with HK$254 million in the same period last year.
- As at 31st December, 2024, the Group had a land bank of approximately 19.4 million square feet of attributable floor area in Mainland China, Hong Kong, Singapore and Sydney, sufficient to meet the Group’s development needs over the next few years. The Group will continue to be selective in replenishing its land bank to optimise its earnings potential.
Financial Highlights
| For the six months ended 31 December: | 2024 | 2023 | Change | |
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| Revenue | HK$3,854 million | HK$4,923 million | -21.7% | |
| Underlying profit | HK$2,241 million | HK$2,945 million | -23.9% | |
| Profit attributable to shareholders | HK$1,820 million | HK$2,616 million | -30.4% | |
| Dividend per share | ||||
| Interim | HK15 cents | HK15 cents | – |
Results and Business Highlights
HONG KONG SAR – Media OutReach Newswire – 26 February 2025 – Sino Land Company Limited (Stock Code: 83) today announced its interim results for the six months ended 31 December 2024 (the “Interim Period”). The Group’s unaudited underlying profit attributable to shareholders, excluding the effect of fair-value changes on investment properties for the Interim Period was HK$2,241 million (2023: HK$2,945 million). Underlying earnings per share was HK$0.26 (2023: HK$0.35).
After taking into account the revaluation loss (net of deferred taxation) on investment properties of HK$407 million (2023: revaluation loss of HK$142 million), which is a non-cash item, the Group reported a net profit attributable to shareholders of HK$1,820 million for the Interim Period (2023: HK$2,616 million). Earnings per share was HK$0.21 (2023: HK$0.31).
Interim dividend of HK$15 cents per share
The Board of Directors has declared an interim dividend of HK15 cents per share. (2023: HK15 cents per share). The steady interim dividend underscores the Group’s solid financial position. As at 31 December 2024, the Group had net cash of HK$45,880 million.
Property Sales – Five new projects scheduled for launch in 2025
Total revenue from property sales for the Interim Period, including property sales of associates and joint ventures, attributable to the Group was HK$2,448 million (2023: HK$6,635 million).
The Group has five new residential projects scheduled for launch in 2025. These include ONE CENTRAL PLACE in Central, Yau Tong Ventilation Building Property Development, Grand Mayfair III in Yuen Long, and LOHAS Park Package Thirteen Property Development in Tseung Kwan O which have obtained pre-sale consents. In addition, the Group expects to obtain pre-sale consent for Wing Kwong Street/Sung On Street Development Project in To Kwa Wan in calendar year 2025. The timing for launching these projects for sale will depend on when the pre-sale consent is received and the prevailing market conditions. Subsequent to the Interim Period, certain units of La Montagne in Wong Chuk Hang were launched for sale in January 2025.
As at 31 December 2024, the Group had a land bank of approximately 19.4 million square feet of attributable floor area in Mainland China, Hong Kong, Singapore and Sydney, which is sufficient to meet the Group’s development needs over the next few years.
Diversified and balanced investment properties portfolio showed long-term resilience
For the Interim Period, the Group’s attributable gross rental revenue, including share from associates and joint ventures, was HK$1,748 million (2023: HK$1,777 million), representing a decrease of 1.6% year-on-year. This decline was primarily due to emerging challenges in the retail sector. Given the dynamic nature of the current operating environment, the Group is continuously refining and optimising our tenant mix, while also organising ongoing marketing and promotional activities in our shopping malls to boost foot traffic.
Among the different sectors, residential showed the biggest improvement, with occupancy rate rising by 1.1 percentage points to 89.0 % (2023: 87.9%). The industrial sector also saw an increase of 0.2 percentage points to 89.7% (2023: 89.5%). Hong Kong remains well-positioned to capitalise on its status as an international hub and financial centre. The ongoing integration into national development initiatives such as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Northern Metropolis proposed by the HKSAR Government, will further bolster Hong Kong’s role as a key hub connecting the country with the world. Additionally, the various talent schemes launched by the HKSAR Government, along with the recent pickup in financial market activities, are expected to bolster the Group’s rental income over time.
As at 31 December 2024, the Group has approximately 13.2 million square feet of attributable floor area of investment properties and hotels in Mainland China, Hong Kong, Singapore and Sydney.
Hotel Operations – Continuous improvement in profitability
In 2024, Hong Kong saw a steady improvement in tourism. Visitors from Mainland China made up 76% of total visitor arrivals, posting a year-on-year increase of 27% to 34.0 million. Long-haul markets also experienced more than a 50% growth. The Group’s overseas operations in Singapore and Sydney continued to deliver encouraging results, with continuous improvement in gross operating profit during the Interim Period. For the Interim Period, the Group’s hotel operating profit increased by 2.8% to HK$261 million, driven by sustained occupancy rates and stringent cost containment measures.
Looking ahead, the opening of the Kai Tak Sports Park in the first quarter of 2025, the development of panda tourism, and the resumption of multiple-entry permits for Shenzhen residents are expected to support the growth of the tourism industry and inject new momentum into Hong Kong’s hospitality industry. Management continued to prioritise cost control while actively seeking new strategies to enhance the quality of our hotel services and improve efficiency.
With robust financials and sustainable strategies, the Group is well-positioned to capitalise on opportunities
The Group is making steady strides on its sustainability journey. In the Interim Period, Sino Land was included in the Dow Jones Sustainability World Index (DJSI World) while maintaining its position in the DJSI Asia Pacific Index for the third consecutive year. In addition, Sino Land has recently been selected as a constituent of the FTSE4Good Index Series and achieved an AA+ rating in the Hang Seng Corporate Sustainability Index Series for the second consecutive year. These recognitions reaffirm Sino Land’s commitment to promoting ESG and sustainability.
Our robust financials and sustainable business strategies underpin the Group’s commitment to creating long-term value for our shareholders:
- Approximately HK$11.3 billion of total attributable contracted sales are yet to be recognised, with approximately HK$9.1 billion expected for recognition in the second half of FY2024/2025.
- Five new residential projects scheduled for launch in 2025.
- Diversified and growing investment property portfolio providing stable recurrent income.
- Committed to sustainability and promoting positivity in the community.
- Strong financial position to support future growth
“Looking ahead to 2025, the Group will remain vigilant and adaptable amidst the rapidly evolving macroeconomic environment. Our leadership emphasises the importance of solid fundamentals, deep customer insights, sustainability and the commitment to excellence. We shall continue to enhance productivity and efficiency, along with careful financial management. With robust financials and sustainable business strategies, the Group is well equipped to navigate challenges and seize opportunities that arise,” said Mr. Robert Ng Chee Siong, Chairman of Sino Land.
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Hashtag: #SinoLand
The issuer is solely responsible for the content of this announcement.
Media OutReach
GAC AION Unveils the Aion V: Redefining Electric Mobility with Advanced Technology and Design
Product Highlights
The AION V offers a WLTP range of 485km per charge, making it the longest-range option in Category A. It features 3C fast charging technology, allowing up to 300 km of range to be recharged in 15 minutes, the fastest charging EV in its category. Designed for comfort, it includes a spacious interior with 180-degree lie-flat front seats and massage seats, a first in its category.
Design and Luxury
The Aion V electric SUV features a T-Rex Cyber Design with geometric shapes and full LED headlights, available in eight colour options. The interior is designed for comfort and convenience, incorporating soft-touch materials, premium leather seating, and front seats with memory, massage, heating, and ventilation functions. Additional features include a smart multi-function refrigerator, a panoramic glass roof, and a 9-speaker premium sound system with noise-reducing cabin materials to enhance the driving experience.
Innovative Technology
Equipped with the Snapdragon 8155P processor and AEP 3.0 platform, the Aion V smart car is designed for efficient performance and responsive operation. It includes L2 intelligent driver assistance and intelligent navigation with charging station search capabilities for enhanced safety and convenience. Future models are set to be upgraded to L2+, incorporating automatic parking and highway drive assist. The vehicle also supports voice control, CarPlay, and Android Auto for seamless connectivity.
Safety and Performance
The Aion V electric SUV is built with a high-strength body, utilising 72% lightweight materials and Magazine Battery 2.0 technology, designed to meet EURO NCAP’s 5-star safety standards. The battery has undergone extensive testing, demonstrating stability under various conditions. Safety features include a centre airbag, extended airbag curtain, blind-spot monitoring, and a 360-degree camera system, providing enhanced driver awareness and occupant protection.
Sustainable Impact
Aligned with sustainable transportation goals, the Aion V electric SUV operates under a zero-emissions design, reducing pollution and improving energy efficiency. Its 18-in-1 Integrated Power Unit achieves 17.2 kWh/100 km energy consumption, while Silicon Carbide Technology optimises power usage and extends driving range. The Lithium Iron Phosphate (LFP) battery enhances safety, sustainability, and longevity, supporting the brand’s commitment to energy-efficient electric mobility.
“Our new Aion V model epitomises GAC AION’s commitment to pushing the boundaries of what electric vehicles can offer. We are not just selling cars; we’re paving the way for a cleaner, more sustainable future where electric mobility is accessible to everyone,” shared Ernest Tan, Deputy CEO, VINCAR Group.
Market Availability
The Aion V electric SUV will be available for purchase on 26 February 2025, exclusively through the authorised dealer GAC AION and VINCAR Group. It is priced at $174,988, with a launch discount of $6,000, bringing the effective price to $168,988. The price is valid until March 5, 2025, at 12 PM, and includes a COE rebate of $87,000 under the Non-Guaranteed 8 Bids scheme.
For more details or to book a test drive, visit the Aion V website.
Hashtag: #GACAION
https://aionev.com.sg/
https://www.facebook.com/aion.sg/
https://www.instagram.com/aion.sg/#
The issuer is solely responsible for the content of this announcement.
About GAC AION
GAC AION is dedicated to advancing electric mobility, prioritising accessibility, transparency, and reliability. The company’s mission is to make electric vehicle ownership achievable for all, underpinned by a steadfast commitment to innovation and quality.
About VINCAR Group
VINCAR Group is a leading multi-brand car dealer and importer in Singapore, focused on innovation and customer experience. They offer in-house financing, leasing, insurance, and after-sales services, prioritising a customer-centric approach. Committed to value and quality, VINCAR Group provides competitive pricing and a diverse vehicle selection, ensuring reliability through their rigorous vetting process.
Media OutReach
Tineco Unveils Two Revolutionary Floor Washers with Super New Arrival Promotion Starting from February 28th
- Tineco launches two new floor washers: Floor One S9 Artist and Floor One Switch S7 Stretch
- Promotion available from February 28th to March 28th, 2025, with attractive gift-with-purchase and more!
- These innovative floor washers combine cutting-edge technology, energy efficiency, and sleek design for a superior cleaning experience
SINGAPORE – Media OutReach Newswire – 28 February 2025 – In response to the common challenges faced by homeowners—such as stubborn odours, tangled hair, and the inconvenience of using multiple cleaning tools—Tineco has unveiled its latest innovations: the Floor One S9 Artist and Floor One Switch S7 Stretch. These next-generation floor washers offer exceptional flexibility, powerful deep-cleaning performance, and an enhanced user experience, designed to meet the needs of today’s modern households.
FLOOR ONE S9 ARTIST: ADVANCED 360° CLEANING WITH HYPER STRETCH TECH AND SELF-CLEANING INNOVATION
The Floor One S9 Artist offers an advanced solution for modern homes. Featuring the 360° SmoothDrive Technology, it reduces handholding effort by 50%* through flexible left-right movement and a 90° Swivel Design, which adjusts the speed of the left and right wheels in real-time. In addition, the transmission of signals to the AI chip enables intelligent matching, ensuring smooth forward pushing, backward pulling, and effortless steering.
Additionally, the Floor One S9 Artist incorporates Hyper Stretch Technology, featuring a slim 12.85 cm flat height, which allows easy access under furniture to effectively remove hidden dust and ensure no corner is left untouched.
With exceptional cleaning performance, the Floor One S9 Artist features a Dual-Block Anti-Tangle Design that efficiently handles both pet and human hair without tangling. The MHCBS (Maintain Hygiene Clean Brush System) continuously rinses the brush with fresh water, while a squeegee presses against the roller brush to scrape off dirt and immediately sucks the dirty water into the wastewater tank. Additionally, the Flashdry Self-Cleaning System enhances cleaning efficiency by using 85°C hot air to heat fresh water, dissolving stains from the pipe to the brush roller for a deeper, more thorough self-cleaning result.
Upgrades were also made to enhance user experience, such as the Backtrack Water Erasure function that eliminates water streaks, and the Repositioned Clean Water Tank that enhances cleaning efficiency with reduced weight for effortless operation. The optional Electrolyzed Water feature delivers a superior cleaning experience, making the Floor One S9 Artist a versatile and user-friendly floor care solution.
FLOOR ONE SWITCH S7 STRETCH: THE 5-IN-1 CLEANING REVOLUTION FOR EFFORTLESS FLOOR CARE
The Floor One Switch S7 Stretch is a 5-in-1 cleaning tool, combining floor washing, vacuuming, crevice cleaning, soft surface care, and high-reach dusting into one compact device. Designed to replace traditional vacuums, it effortlessly handles wet and dry messes, including oily stains and hard-to-clean debris.
The Floor One Switch S7 Stretch revolutionizes floor cleaning with its advanced washing capabilities. With 22KPa of suction power, it effortlessly lifts dirt, debris, and hair, ensuring a deep and thorough clean every time. Like the Floor One S9 Artist, it features the MHCBS, which rinses the brush with fresh water 450 times per minute to guarantee spotless floors. The 180° lay-flat design and HyperStretch Technology allow it to clean under furniture and reach tight spaces as low as 13cm. Its Dual-Block Anti-Tangle Design prevents hair tangles, while dual-sided edge cleaning ensures no corner is left untouched. The FlashDry Self-Cleaning System utilizes fresh water heated to 85°C, combined with hot air, to dissolve stains and dry the brush in just 5 minutes, keeping it fresh and odour-free.
The Floor One Switch S7 Stretch also excels as a powerful vacuum cleaner. With its 5-stage filtration system which captures 99.97% of dust and debris as small as 0.3μm. Meanwhile, the ZeroTangle Brush effortlessly picks up hair without wrapping, and an LED headlight illuminates hard-to-reach areas, making cleaning under furniture effortless. The vacuum mode offers up to 70 minutes of runtime, powered by upgraded pouch cells that triple battery lifespan.
Images available in the media kit here.
AVAILABILITY & LAUNCH PROMOTIONS
| Device | Availability | Launch Promotions
T&Cs apply, while stocks last |
| Floor One S9 Artist | Available now on Shopee, Lazada, TikTok Shop and Mass Retailers | Free Tineco iCarpet Spot Cleaner (worth S$379) + 6 bottles of cleaning solution |
| Floor One Switch S7 Stretch | Available now on Shopee, Lazada, TikTok Shop and Mass Retailers | Free Tineco iCarpet Spot Cleaner (worth S$379) + 6 bottles of cleaning solution |
TINECO ROADSHOW AT PAVILION DAMANSARA HEIGHTS, KUALA LUMPUR
Happening on March 5th, Tineco will celebrate the launch of these two floor washers with a roadshow at Pavilion Damansara Heights (Centre Court), where visitors can try out the superior cleaning experience for themselves, score special deals and win prizes.
Hashtag: #Tineco
The issuer is solely responsible for the content of this announcement.
About Tineco
Founded in 1998, Tineco is a high-tech company and a wholly-owned subsidiary of ECOVACS Group (SHA: 603486). Dedicated to innovation, Tineco has consistently delivered smart home cleaning solutions that redefine convenience and efficiency. With the launch of the Floor One S9 Artist and Floor One Switch S7 Stretch, Tineco continues to lead the way in creating products that make everyday life easier and more enjoyable.
Media OutReach
Ne Zha 2 Dominates Hong Kong Box Office for Four Straight Days, Crowned 2025’s Top Film
The sequel to the 2019 hit “Ne Zha” premiered in Hong Kong on February 18 and hit the theaters on February 22, drawing enthusiastic crowds and critical acclaim. The film reimagines the mythical tale of Ne Zha—a divine warrior from Chinese folklore—with modern storytelling and cutting-edge animation, captivating audiences across the Chinese mainland since its Lunar New Year debut.
The Hong Kong premiere at Causeway Bay drew a star-studded crowd, including representatives from its Hong Kong and Macau distribution teams, local cultural figures, and residents. Industry professionals praised the film’s technical brilliance and narrative depth, with many cinemas, such as Kowloon Tong’s Festival Grand Cinema, scheduling near hourly screenings to meet demand.
Two Hong Kong moviegoers shared their excitement after attending early screenings. One resident remarked, “I don’t usually watch adult-oriented animated films, but this one is definitely worth watching. Chinese animation can now rival, or even surpass, foreign productions.” Another added, “Chinese animation keeps improving. Compared to films six years ago, the artwork is more beautiful, the visuals more vibrant, and the storytelling completely unexpected.”
LO Shuk-pui, Director of the Hong Kong SAR Government’s Culture, Sports, and Tourism Bureau, highlighted the film’s collaborative effort, stating, “The script is exceptionally well-written, with sharp dialogue and rich character development. I heard 138 companies worked on this project over five years—the dedication and technical excellence are evident.”
WONG Bak-ming, Chairman of Hong Kong’s Oriental Film Company, emphasized its cultural significance, noting that Ne Zha series has successfully brought traditional Chinese stories to the global stage. It proves Chinese animation can achieve world-class results, and they’re proud to contribute to this milestone.
Globally, Ne Zha 2 has grossed over $1.698 billion as of February 18, surpassing “Inside Out 2” to become the highest-grossing animated film in history and entering the top eight of the all-time global box office chart. Due to its sustained popularity, the film’s screening period in Chinese mainland has been extended to March 30.
From its mythological roots to its record-breaking success, Ne Zha 2 continues to redefine the possibilities of Chinese animation, bridging cultural heritage with global appeal.
Hashtag: #ShanghaiEye
The issuer is solely responsible for the content of this announcement.
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