Guangdong Investment Limited reported unaudited revenue of HK$15.71 billion for the nine months ended 30 September 2026, up 10.0% from HK$14.28 billion a year earlier. Profit before tax from continuing operations advanced 7.1% to HK$6.68 billion, while profit attributable to shareholders grew 7.3% to HK$4.36 billion. Total assets reached HK$108.96 billion, an expansion of 7.1% since end-2025, and equity attributable to owners rose 7.9% to HK$46.30 billion.
Key drivers included sustained expansion of the water resources segment, a HK$119.46 million gain on the disposal of a 35% stake in Guangdong Aeon Teem Co., and a 4.8% year-on-year appreciation of the renminbi, partially offset by a HK$19 million fair-value loss on investment properties. Net finance costs fell to HK$201 million (2025: HK$263 million), while a net exchange gain of HK$44 million contrasted with a HK$23 million loss in the prior year.
Segment Performance 1. Water Resources • Dongshen Water Supply Project supplied 1.57 billion tons (-6.0%), generating revenue of HK$5.31 billion (+1.4%) and profit before tax of HK$3.64 billion (+1.3%). • Other Water Resources Projects lifted revenue 16.5% to HK$6.54 billion; profit before tax (before FX and finance costs) rose 9.9% to HK$1.76 billion. Aggregate designed capacities reached 17.03 million tons/day for water supply and 3.09 million tons/day for sewage treatment. Two bolt-on acquisitions—51% of Shantou Chenghai Yuehai Water Supply and 51% of Bestwise Envirotech—expanded the platform.
2. Property Investment • GDH Teem malls and office towers delivered revenue of HK$1.33 billion (+5.8%); profit before tax (ex-fair-value and interest effects) improved 3.9% to HK$797.20 million amid higher rents and occupancy. • Guangdong Investment Tower in Hong Kong posted revenue of HK$32.52 million (-9.6%) as average occupancy eased to 91.1%.
3. Retail Operations The contraction to three stores reduced leased area to 73,200 sq.m. and revenue to HK$304.92 million (-3.7%). Profit before tax (ex-fair-value changes) fell 32.5% to HK$43.24 million, reflecting closure-related costs.
4. Hotels Hotel revenue climbed 6.5% to HK$537.51 million, driven by higher average room rates. Profit before tax (adjusted) advanced 26.7% to HK$87.37 million. Sheraton Guangzhou achieved a 94.6% occupancy and an average room rate of HK$1,304; six other managed or owned hotels averaged HK$746 and 73.0% occupancy.
5. Energy • GDH Energy’s electricity sales increased 10.5% to 2.87 billion kWh, lifting revenue to HK$1.51 billion (+28.5%). However, higher coal prices compressed profit before tax (pre-finance) to HK$122.54 million (-14.1%). • Associate Yudean Jinghai Power expanded generation 62.0% to 17.65 billion kWh and revenue 63.0% to HK$6.78 billion, yet profit before tax fell sharply to HK$1.74 million. Guangdong Investment’s share of profit was HK$0.23 million (2025: HK$34.79 million).
6. Infrastructure • Xingliu Expressway’s average daily traffic slid 4.2% to 23,449 vehicle trips; toll revenue edged up 2.6% to HK$457.28 million. Adjusted profit before tax was broadly flat at HK$230.97 million (-0.2%). • Yinping Project recognised HK$111.87 million in interest and service income (-5.6%); adjusted profit before tax declined 10.2% to HK$93.67 million. Five project roads have been completed to date.
Capital Movements Guangdong Investment completed a special dividend in specie of Guangdong Land Holdings shares on 21 January 2025. During the reporting period the group distributed a 2025 final dividend of HK$1.28 billion and a 2026 interim dividend of HK$1.91 billion.
Outlook Management intends to prioritise higher value-added water-related investments, pursue precision asset management and remain alert to opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area development plan, while maintaining a focus on risk control and steady profit growth.
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