Announcement • Jul 03
Hang Lung Group Limited to Report First Half, 2026 Results on Jul 31, 2026 Hang Lung Group Limited announced that they will report first half, 2026 results on Jul 31, 2026 Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Director May Tan was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 02
Hang Lung Group Limited to Report Fiscal Year 2025 Results on Jan 30, 2026 Hang Lung Group Limited announced that they will report fiscal year 2025 results on Jan 30, 2026 Announcement • Jul 03
Hang Lung Group Limited to Report First Half, 2025 Results on Jul 30, 2025 Hang Lung Group Limited announced that they will report first half, 2025 results on Jul 30, 2025 Announcement • Jan 03
Hang Lung Group Limited to Report Fiscal Year 2024 Results on Jan 24, 2025 Hang Lung Group Limited announced that they will report fiscal year 2024 results at 12:30 PM, China Standard Time on Jan 24, 2025 Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.19, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 13x in the Real Estate industry in Germany. Total loss to shareholders of 26% over the past three years. Reported Earnings • Sep 18
First half 2024 earnings released: EPS: HK$0.65 (vs HK$1.24 in 1H 2023) First half 2024 results: EPS: HK$0.65 (down from HK$1.24 in 1H 2023). Revenue: HK$6.51b (up 16% from 1H 2023). Net income: HK$888.0m (down 47% from 1H 2023). Profit margin: 14% (down from 30% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 07
Upcoming dividend of HK$0.21 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 25 September 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 01
First half 2024 earnings released: EPS: HK$0.65 (vs HK$1.24 in 1H 2023) First half 2024 results: EPS: HK$0.65 (down from HK$1.24 in 1H 2023). Revenue: HK$6.51b (up 16% from 1H 2023). Net income: HK$888.0m (down 47% from 1H 2023). Profit margin: 14% (down from 30% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. New Risk • Jul 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 17% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (17% net profit margin). New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Announcement • Jul 04
Hang Lung Group Limited to Report First Half, 2024 Results on Jul 30, 2024 Hang Lung Group Limited announced that they will report first half, 2024 results on Jul 30, 2024 Announcement • Jun 21
Hang Lung Group Limited Announces Audit Committee Changes, Effective July 1, 2024 The board of Hang Lung Group Limited announced changes to the composition of the Audit Committee of the Company with effect from July 1, 2024. Professor Lap-Chee TSUI, an independent non-executive director of the Company, will cease to be a member of the Audit Committee; and Ms. May Siew Boi TAN, an independent non-executive director of the Company, will be appointed as a member of the Audit Committee. Professor TSUI will remain as an independent non-executive director of the Company. Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: HK$2.06 (vs HK$2.00 in FY 2022) Full year 2023 results: EPS: HK$2.06 (up from HK$2.00 in FY 2022). Revenue: HK$11.0b (flat on FY 2022). Net income: HK$2.81b (up 3.4% from FY 2022). Profit margin: 26% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 09
Executive Vice Chair of the Board recently bought €230k worth of stock On the 2nd of February, Wenbwo Chan bought around 200k shares on-market at roughly €1.15 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Wenbwo has been a buyer over the last 12 months, purchasing a net total of €569k worth in shares. Declared Dividend • Feb 01
Final dividend of HK$0.65 announced Shareholders will receive a dividend of HK$0.65. Ex-date: 8th May 2024 Payment date: 14th June 2024 Dividend yield will be 62%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 54% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Announcement • Jan 31
Hang Lung Properties Limited and Hang Lung Group Limited Announce Retirement of Mr. Ronnie Chichung Chan as the Chair, an Executive Director, and the Chair of Executive Committees, with Effect from April 26, 2024 The Boards of Directors of Hang Lung Group Limited (HLG) and Hang Lung Properties Limited (HLP, together with HLG, referred to as the Group) jointly announced that Mr. Ronnie Chichung CHAN (Mr. Ronnie Chan) will retire from his positions as the Chair, an Executive Director, and the Chair of Executive Committees of the Group with effect from the conclusion of the annual general meeting of each of HLG and HLP to be held on April 26, 2024 (the "2024 AGM"). Mr. Ronnie Chan will not take up a Non-Executive Director role in the Boards after his retirement. Mr. Ronnie Chan joined the Group in 1972 and has led the Group as the Chair since 1991. Mr. Ronnie Chan's vision and leadership established a strong foundation for the Group's sustainable growth. The Boards would like to express their deep gratitude to Mr. Ronnie Chan for his tremendous contributions to the Group. In recognition of his tremendous contributions, the Boards will bestow upon Mr. Ronnie Chan the title of the "Honorary Chair" of the Group after his retirement. Reported Earnings • Jan 31
Full year 2023 earnings released: EPS: HK$2.06 (vs HK$2.00 in FY 2022) Full year 2023 results: EPS: HK$2.06 (up from HK$2.00 in FY 2022). Revenue: HK$11.0b (flat on FY 2022). Net income: HK$2.81b (up 3.4% from FY 2022). Profit margin: 26% (up from 25% in FY 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Jan 06
Hang Lung Group Limited to Report Fiscal Year 2023 Results on Jan 30, 2024 Hang Lung Group Limited announced that they will report fiscal year 2023 results on Jan 30, 2024 Upcoming Dividend • Sep 05
Upcoming dividend of HK$0.21 per share at 7.8% yield Eligible shareholders must have bought the stock before 12 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 7.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.6%). Reported Earnings • Aug 02
First half 2023 earnings released: EPS: HK$1.24 (vs HK$1.06 in 1H 2022) First half 2023 results: EPS: HK$1.24 (up from HK$1.06 in 1H 2022). Revenue: HK$5.60b (down 2.2% from 1H 2022). Net income: HK$1.68b (up 17% from 1H 2022). Profit margin: 30% (up from 25% in 1H 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Aug 01
Hang Lung Group Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 29 September 2023 Hang Lung Group Limited announced Interim Dividend for the six months ended 30 June 2023 of HKD 0.21 per share. Ex-dividend date 12 September 2023. Record date 15 September 2023. Payment date 29 September 2023. Announcement • Jul 04
Hang Lung Group Limited to Report First Half, 2023 Results on Jul 31, 2023 Hang Lung Group Limited announced that they will report first half, 2023 results on Jul 31, 2023 Upcoming Dividend • Apr 26
Upcoming dividend of HK$0.65 per share at 6.3% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.9%). Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: HK$2.00 (vs HK$1.90 in FY 2021) Full year 2022 results: EPS: HK$2.00 (up from HK$1.90 in FY 2021). Revenue: HK$11.1b (up 1.7% from FY 2021). Net income: HK$2.72b (up 5.0% from FY 2021). Profit margin: 25% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 9% per year. Buying Opportunity • Feb 16
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €2.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has declined by 9.6%. Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: HK$2.00 (vs HK$1.90 in FY 2021) Full year 2022 results: EPS: HK$2.00 (up from HK$1.90 in FY 2021). Revenue: HK$10.9b (flat on FY 2021). Net income: HK$2.72b (up 5.0% from FY 2021). Profit margin: 25% (up from 24% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. Announcement • Feb 01
Hang Lung Group Limited Proposes Final Dividend for the Year Ended 31 December 2022, Payable on 19 May 2023 Hang Lung Group Limited proposed Final Dividend of HKD 0.65 per share for the year ended 31 December 2022. Ex-dividend date is 03 May 2023. Record date is 05 May 2023. Payment date is 19 May 2023. Date of shareholders' approval is 28 April 2023. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non-Executive Director Pak Wai Liu was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 18
First half 2022 earnings released: EPS: HK$1.06 (vs HK$1.11 in 1H 2021) First half 2022 results: EPS: HK$1.06 (down from HK$1.11 in 1H 2021). Revenue: HK$5.72b (up 9.1% from 1H 2021). Net income: HK$1.44b (down 4.6% from 1H 2021). Profit margin: 25% (down from 29% in 1H 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 02
Upcoming dividend of HK$0.21 per share Eligible shareholders must have bought the stock before 09 September 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.2%). Recent Insider Transactions • Aug 16
CEO & Executive Director recently bought €83k worth of stock On the 10th of August, Wai Pak Lo bought around 50k shares on-market at roughly €1.67 per share. This was the largest purchase by an insider in the last 3 months. Wai Pak has been a buyer over the last 12 months, purchasing a net total of €492k worth in shares. Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down HK$1.51b from profit in 1H 2021). Profit margin: (down from 29% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jul 29
Hang Lung Group Limited Announces Interim Dividend for the Six Months Ended 30 June 2022, Payable on 29 September 2022 Hang Lung Group Limited announced Interim Dividend for the six months ended 30 June 2022. Dividend declared is HKD 0.21 per share. Ex-dividend date is 09 September 2022. Record date is 15 September 2022. Payment date is 29 September 2022. Announcement • Jul 05
Hang Lung Group Limited to Report First Half, 2022 Results on Jul 28, 2022 Hang Lung Group Limited announced that they will report first half, 2022 results on Jul 28, 2022 Announcement • Apr 28
Hang Lung Group Limited Approves Final Dividend Hang Lung Group Limited approved the final dividend of 65 Hong Kong cents per share in annual general meeting held on April 27, 2022. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non-Executive Director Pak Wai Liu was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 22
Upcoming dividend of HK$0.65 per share Eligible shareholders must have bought the stock before 29 April 2022. Payment date: 19 May 2022. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.8%). Higher than average of industry peers (3.7%). Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: HK$1.90 (up from HK$1.13 loss in FY 2020). Revenue: HK$10.9b (up 18% from FY 2020). Net income: HK$2.59b (up HK$4.13b from FY 2020). Profit margin: 24% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 11%. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 18
First half 2021 earnings released: EPS HK$1.11 (vs HK$1.17 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$5.24b (up 22% from 1H 2020). Net income: HK$1.51b (up HK$3.10b from 1H 2020). Profit margin: 29% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Sep 12
CEO & Executive Director recently bought €307k worth of stock On the 8th of September, Wai Pak Lo bought around 150k shares on-market at roughly €2.05 per share. This was the largest purchase by an insider in the last 3 months. This was Wai Pak's only on-market trade for the last 12 months. Upcoming Dividend • Sep 03
Upcoming dividend of HK$0.21 per share Eligible shareholders must have bought the stock before 10 September 2021. Payment date: 29 September 2021. Trailing yield: 4.4%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (2.9%). Recent Insider Transactions • Sep 02
CFO & Executive Director recently bought €61k worth of stock On the 26th of August, Hau Cheong Ho bought around 29k shares on-market at roughly €2.11 per share. This was the largest purchase by an insider in the last 3 months. Hau Cheong has been a buyer over the last 12 months, purchasing a net total of €107k worth in shares. Reported Earnings • Aug 02
First half 2021 earnings released: EPS HK$1.11 (vs HK$1.17 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$5.24b (up 22% from 1H 2020). Net income: HK$1.51b (up HK$3.10b from 1H 2020). Profit margin: 29% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Executive Departure • May 07
Director of General Counsel has left the company On the 1st of May, Ka Man Yan's tenure as Director of General Counsel ended after 3.8 years in the role. We don't have any record of a personal shareholding under Ka Man's name. Ka Man is the only executive to leave the company over the last 12 months. Announcement • May 01
Hang Lung Group Limited Declares Final Dividend for the Year 2020 Hang Lung Group Limited declares a final dividend of 63 Hong Kong cents per share, at its AGM to be held on April 29, 2020. Upcoming Dividend • Apr 27
Upcoming dividend of HK$0.63 per share Eligible shareholders must have bought the stock before 04 May 2021. Payment date: 20 May 2021. Trailing yield: 4.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 26
Full year 2020 earnings released: HK$1.13 loss per share (vs HK$5.01 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: HK$9.24b (down 4.0% from FY 2019). Net loss: HK$1.54b (down 123% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 29
Full year 2020 earnings released: HK$1.13 loss per share (vs HK$5.01 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: HK$9.53b (down 1.0% from FY 2019). Net loss: HK$1.54b (down 123% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Jan 28
Hang Lung Group Limited, Annual General Meeting, Apr 30, 2021 Hang Lung Group Limited, Annual General Meeting, Apr 30, 2021. Is New 90 Day High Low • Jan 27
New 90-day high: €2.26 The company is up 19% from its price of €1.90 on 29 October 2020. The German market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 9.0% over the same period. Announcement • Jan 07
Hang Lung Group Limited to Report Fiscal Year 2020 Results on Jan 28, 2021 Hang Lung Group Limited announced that they will report fiscal year 2020 results on Jan 28, 2021 Announcement • Nov 21
Hang Lung Group Limited Enters into the Lease Agreement as Tenant with Hang Lung as the Landlord The Board announced that Top Glorification, an indirect wholly-owned subsidiary of the Company, entered into the Lease Agreement as tenant with Hang Lung as the landlord in respect of the Premises on 20 November 2020, for a term of three years commencing on 1 November 2020 and expiring on 31 October 2023 (both days inclusive) for the operation of its restaurant "Duddell's". Pursuant to HKFRS 16, the entering into of the Agreement will require the Group to recognise the fixed portion of the lease payment for the Premises as the right-of-use assets with a cost of approximately HKD 19.0 million at initial recognition and a corresponding lease liability which represented the present value of the future lease payments. Thus, the entering into the Lease Agreement and the transactions contemplated thereunder will be regarded as deemed acquisition of asset by the Group. REASONS FOR AND BENEFITS OF ENTERING INTO THE LEASE AGREEMENT: The Group is principally engaged in operating restaurants and providing membership services for the Group's restaurants in Hong Kong. The Premises have been leased to Top Glorification since May 2013 to operate the Group 's restaurant "Duddell's". The existing lease agreement for the Premises will expire on 31 October 2020. The Lease Agreement allows "Duddell's" to operate in the same location at Premises after the expiry of the existing lease agreement on 31 October 2020, which will facilitate the long-term success of the restaurant. Based on the above, the Directors are of the view that the terms and conditions of the Lease Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole. Is New 90 Day High Low • Oct 31
New 90-day low: €1.88 The company is down 7.0% from its price of €2.02 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 2.0% over the same period. Is New 90 Day High Low • Sep 29
New 90-day low: €1.94 The company is down 6.0% from its price of €2.06 on 01 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 4.0% over the same period. 
