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Lai Sun Development Co ( (HK:0488) ) has issued an update.
Lai Sun Development reported a modest 1.4% rise in turnover to HK$2.58 billion for the six months ended 31 January 2026, supported by stronger property development sales but offset by weaker property investment and hotel revenues. Despite this, adjusted EBITDA fell 23.3% and net loss attributable to shareholders widened sharply to HK$1.17 billion, driven by losses and write-downs related to Hengqin Novotown Phase II towers, as well as fair value and impairment losses on investment and joint venture properties.
The group is responding with aggressive deleveraging, asset disposals and refinancing, including contracted sales of two accommodation towers in Hengqin, disposal of a prime Central property vehicle and exit from a non-core fund, which together are expected to bring total disposal proceeds close to HK$7 billion. With renewed banking support, improved net current asset position and a pipeline of new Hong Kong residential launches planned for 2026, Lai Sun aims to bolster liquidity and balance sheet strength amid a still-challenging commercial real estate environment, while benefiting from a gradually recovering Hong Kong residential market and tighter cost control in non-property businesses.
The most recent analyst rating on (HK:0488) stock is a Hold with a HK$0.69 price target. To see the full list of analyst forecasts on Lai Sun Development Co stock, see the HK:0488 Stock Forecast page.
More about Lai Sun Development Co
Lai Sun Development is a Hong Kong-based property group with core businesses in property development and sales, property investment, and hotel operations, primarily in Hong Kong and Mainland China. Through its subsidiary Lai Fung Group, it is also active in large-scale mixed-use projects such as the Hengqin Novotown development, focusing on both residential and commercial real estate assets.
Average Trading Volume: 1,481,885
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$901.1M
For an in-depth examination of 0488 stock, go to TipRanks’ Overview page.