Great Eagle Holdings reported a statutory profit attributable to shareholders of HK$326.60 million for the six months to 30 June 2026, rebounding from a HK$1.06 billion loss a year earlier. Core profit—excluding fair-value changes and other non-cash items—declined 14.3% year on year to HK$512.00 million.
Revenue based on core business fell 10.7% to HK$3.57 billion, reflecting softer property sales and lower distribution from Champion REIT. Statutory revenue, which consolidates Champion REIT and Langham Hospitality Investments (LHI), slipped 7.5% to HK$5.01 billion.
Key segment movements: • Property sales revenue sank 60.5% to HK$357.69 million as inventory at the ONTOLO project diminished and no new units from ONMANTIN were handed over. • Hotels Division delivered HK$2.57 billion of revenue, up 7.6%, lifting EBITDA 16.3% to HK$475.0 million on stronger leisure and event demand across the global portfolio. • Distribution income from 70.71%-owned Champion REIT decreased 8.8% to HK$275.20 million amid negative rental reversions at Three Garden Road and Langham Place. LHI, 69.46%-owned, declared no interim distribution. • Net rental income from investment properties was stable at HK$58.0 million.
Group net debt on a statutory basis reached HK$23.86 billion; the net-gearing ratio rose to 34.7% from 30.0% at December 2025, driven by new residential acquisitions and land premiums. On a “core” balance-sheet view—which recognises only the Group’s share of Champion REIT and LHI debt—net gearing stood at 7.0%. Book value per share was HK$81.20 on the core basis and HK$69.30 on the statutory basis.
The Board declared an interim cash dividend of HK$0.37 per share, down from HK$0.41 a year earlier, payable on 15 October 2026 to shareholders on record as of 6 October 2026. A special dividend was previously distributed on 2 April 2026 via one Langham share-stapled unit for every 15 Great Eagle shares held.
Management cited challenging macro conditions, softer Hong Kong office and residential markets, and higher funding costs, but noted improving hotel performance and stable rental contributions.