Lai Sun Development (00488) announced annual results. Loss attributable to shareholders of HK$2,397 billion decreased by 16.6% year-on-year

According to the Zhitong Finance App, Lai Sun Development (00488) announced its annual results for the year ended July 31, 2026, with a turnover of HK$5,067 billion, up 3.4% year on year; loss attributable to company owners was HK$2,397 billion, a year-on-year decrease of 16.6%; and a basic loss of HK$1.649 per share.

According to the announcement, the reduction in losses was mainly due to (i) an increase in the Group's revenue; (ii) the deduction of developing properties in Hong Kong in the previous year; and (iii) loss of fair value and reduction in operating losses for joint venture properties. However, the decrease in net loss was partially offset by losses due to the sale by Lifeng Group of a housing building (T1) in Hengqin Innovation Phase II and the deduction of Hengqin Innovation Phase II properties (mainly T3) during the year under review, as well as losses in fair value of the Group's investment properties and other increases in operating expenses.