LAI SUN DEV (00488) Announces Annual Results: Shareholders' Loss Attributable to Owners HK$2.397 Billion, Down 16.6% YoY

LAI SUN DEV (00488) Announces Annual Results for the Year Ended July 31, 2026: Turnover HK$5.067 Billion, Up 3.4% YoY; Loss Attributable to Owners of the Company HK$2.397 Billion, Down 16.6% YoY; Basic Loss Per Share HK$1.649. The announcement stated that the reduction in loss was mainly due to (i) an increase in the Group's revenue; (ii) the reversal of write-downs on Hong Kong development properties in the prior year; and (iii) a decrease in fair value losses and operating losses on properties of joint ventures. However, the reduction in net loss was partially offset by losses arising from the disposal by Lai Fung Group of a residential tower (T1) of Hengqin Innovation Square Phase II and the write-down of properties (mainly T3) of Hengqin Innovation Square Phase II during the year under review, as well as an increase in fair value losses on the Group's investment properties and other operating expenses.