SHENZHEN INT'L (00152) released its mid-term results for 2026, reporting a loss attributable to shareholders of HKD 221 million, a shift from profit to loss compared to the same period last year.

SHENZHEN INT'L (00152) released its interim results for the year 2026, reporting revenue of HKD 8.23 billion, a year-on-year increase of 23.4%. The company reported a loss attributable to ordinary shareholders of HKD 221 million, compared to a profit of HKD 490 million in the same period last year; earnings per share were HKD 0.09. The announcement stated that for the six months ending June 30, 2026, the group achieved total revenue of approximately HKD 8.23 billion, an increase of 23% compared to the same period last year, mainly due to significant growth in revenue from port supply chain operations and new income contributions from several new logistics port projects coming online. During this period, the group recorded a loss attributable to shareholders of about HKD 221 million (2025: profit attributable to shareholders of about HKD 490 million), primarily due to fair value loss on investment properties and a turn from profit to loss for joint ventures in which the group holds a 50% interest. In addition, the group has not yet recognized profits from land preparation and development or income related to asset management funds. In terms of logistics operations, the group continues to improve its nationwide logistics node layout, steadily expanding its business scale. During this period, total operational area increased by approximately 1.9 million square meters compared to the same period last year, with enhanced network coverage density and comprehensive service capabilities. As of June 30, 2026, the group has completed strategic layouts in 43 cities nationwide, managing and operating 63 logistics port projects, with a total operational area reaching 8.61 million square meters, and a high overall leasing rate of approximately 88% in mature logistics parks. During this period, revenue from logistics operations was approximately HKD 1.179 billion, a 19% increase compared to the same period last year, mainly due to the gradual commencement of operations for multiple logistics port projects in Foshan and Shenzhen, as well as new income contributions from the Pinghu South project. At the same time, the group continues to deepen refined operational management and dynamically optimize leasing strategies, maintaining stable occupancy rates even in a weak rental environment, while rental levels also demonstrated strong resilience. However, affected by downward market pressures, some logistics port projects reported fair value losses, coupled with new projects still in the incubation stage, leading to an attributable loss of approximately HKD 22 million during the period for logistics operations. In the port and related services sector, revenue during this period was approximately HKD 2.775 billion, achieving significant growth compared to the same period last year, mainly due to increased revenue from port supply chain operations. However, profit attributable to shareholders decreased by 12% compared to the same period last year, to approximately HKD 10.59 million, primarily due to intensified industry competition, which pressured gross margins, and new projects still being in the incubation period.