Value Partners Group Limited (00806) reported a sharp turnaround for the year ended 31 December 2025. Profit attributable to owners surged to HK$667.70 million, a 20.40-times increase from HK$31.24 million in 2024, driven by stronger fee income and investment gains.
Total fee income almost doubled to HK$922.13 million (+97.5% YoY), underpinned by: • Gross management fees rising 3.4% to HK$410.91 million, reflecting higher average AUM. • Gross performance fees jumping to HK$374.26 million from HK$12.31 million, as flagship funds exceeded high-water marks. After rebates to distributors (HK$313.26 million), net fee income reached HK$608.87 million.
Other income grew 41.0% to HK$95.55 million. Operating profit before other gains swung to HK$235.34 million from a HK$46.44 million loss a year earlier.
Net gains on proprietary investments doubled to HK$370.36 million (+106.6%), while foreign-exchange gains contributed HK$28.13 million versus a HK$44.03 million loss in 2024.
Total expenses increased 29.7% to HK$469.08 million; however, fixed operating costs fell 7% to HK$283 million following staff optimisation and tighter cost control.
Basic and diluted earnings per share rose to 36.6 HK cents (2024: 1.7 HK cents). The Board proposes a final dividend of 5.5 HK cents per share (2024: 1.0 HK cent); no interim dividend was declared.
Assets under management climbed 20% to USD6.15 billion (approx. HK$48.04 billion), supported by USD1.20 billion of investment performance and USD0.19 billion in net subscriptions. Absolute-return long-biased strategies accounted for 58% of AUM, fixed-income funds 18%, and multi-asset funds 10%.
The balance sheet remained liquid with cash and cash equivalents of HK$1.56 billion and net assets of HK$4.23 billion. Ex-property secured borrowing of HK$65.94 million, the group had no corporate debt.
Value Partners’ Annual General Meeting is slated for 12 May 2026. Subject to approval, the proposed dividend will be paid on or about 10 June 2026 to shareholders on record as of 20 May 2026.
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