Hang Lung PPT (00101) rose more than 3%. As of the time of writing, the stock was up 2.85% to HK$9.37, with a turnover of HK$82.5487 million. HSBC Research released a report stating that with the improved performance of Hang Lung PPT's shopping center business and its new light-asset expansion strategy, its profit outlook and dividend certainty are expected to strengthen, providing support for the share price. Hang Lung PPT is scheduled to announce its 2025 annual results on the 30th of the month; HSBC expects that, excluding property sales factors, the company's 2025 profit will be roughly flat year-on-year, a significant improvement compared to the 25% decline in the previous year. The bank pointed out that tenant sales in its shopping malls are gradually recovering, with particularly stable performance from its two Shanghai malls, coupled with signs of stabilization in its Hong Kong mall business, all of which are favorable for driving profit growth in 2026. HSBC anticipates that tenant sales in Hang Lung PPT's mainland China shopping malls will maintain the year-on-year growth momentum of 10% seen in the third quarter into the fourth quarter. A similar trend is visible in the recent results of high-end retailers such as Richemont and Burberry. Hong Kong's retail sales also recorded a seventh consecutive month of growth in November 2025, rising 6.5% year-on-year, which is expected to support the stabilization of the company's local Hong Kong retail business. The improving tenant sales performance is expected to gradually translate into profit growth in 2026.
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