Shenzhen International (00152) has unveiled its interim results for the 2026 fiscal year, reporting a loss attributable to shareholders of HK$221 million, a stark reversal from the HK$490 million profit recorded in the same period last year.
The group achieved revenue of HK$8.23 billion during the period, marking a 23.4% increase year-on-year. Earnings per share stood at HK$0.09, according to the official announcement.
For the six months ended June 30, 2026, total revenue climbed 23% to approximately HK$8.23 billion, propelled by robust growth in the port supply chain segment and fresh revenue contributions from newly operational logistics hub projects.
The swing to a shareholder-attributable loss of roughly HK$221 million (versus a profit of approximately HK$490 million in 2025) was primarily driven by fair value losses on investment properties and a downturn in a 50%-owned associate, which transitioned from profitability to a loss. Additionally, the group recorded no land preparation and development profits or gains from asset injection into funds during this period.
In the logistics business, the group continued to enhance its nationwide logistics node network, achieving steady operational growth. Total operating area expanded by approximately 1.9 million square meters compared with the same period last year, strengthening network density and comprehensive service capabilities.
As of June 30, 2026, the group had completed strategic layouts across 43 cities, managing and operating 63 logistics hub projects with a total operating area of 8.61 million square meters. The average occupancy rate at mature logistics parks remained robust at approximately 88%.
Logistics operations generated revenue of approximately HK$1.18 billion during the period, up 19% year-on-year, supported by the commissioning of several logistics hubs in Foshan and Shenzhen, along with additional revenue from the Pinghu South project that began operations. Meanwhile, the group deepened refined operational management and dynamically adjusted leasing strategies, maintaining stable occupancy amid a sluggish leasing environment while demonstrating resilient rental levels.
However, downward market pressures triggered fair value losses at certain logistics hub projects, and newly launched operations remain in their ramp-up phase with profitability yet to be fully realized. Consequently, the logistics segment recorded a shareholder-attributable loss of approximately HK$22 million for the period.
The port and related services segment achieved revenue of approximately HK$2.78 billion during the period, showing significant year-on-year growth, primarily driven by higher port supply chain revenues. Nevertheless, shareholder-attributable profit declined 12% to approximately HK$10.59 million, reflecting margin pressure from intensifying industry competition and the early-stage development of recently launched projects.
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