Strong Momentum Drives Sustainable Growth in Core Leasing Business

Corporate Update | Feb 1, 2019

On January 30, 2019 (Wednesday), Hang Lung held its FY2018 Annual Results Announcement to announce the financial results for the year ended December 31, 2018.

Chairman Mr. Ronnie C. Chan said, “We have achieved an encouraging rental performance in 2018. Our leasing properties have held their positive course in the year even though some areas in the properties were closed for asset enhancement. These upgrades will add value to our assets and provide further impetus for revenue growth. In 2018, management has achieved not only top-line growth but also strengthened our bottom-line performance. Revenue growth of our mainland properties accelerated during the second half when compared with the first half of 2018 and a year ago. We remained cautiously optimistic about the leasing market as the luxury market bounced back from economic uncertainty on the Mainland. Against this backdrop, our portfolio can grow further as we enhance our customer-centric strategies. These will further boost our competitiveness and profitability in the long run.”

“Furthermore, our successful acquisition of a prime plot of land in Hangzhou has increased our ability to capitalize on the opportunities that arise across the country. The new projects will contribute to the growth momentum of the Company and bring in further revenue,” added Ronnie.

We continued to adopt prudent and comprehensive financial management strategies to maintain a strong financial position with a high degree of flexibility to meet Hang Lung’s capital commitments and long-term expansion.

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