However, Hang Lung Group still has plans to increase its whatsapp number in australia holdings of Hang Lung Properties shares. From August last year to June this year, Hang Lung Group has spent HK$610 million to purchase 62 million shares of Hang Lung Properties. "The market thinks the stock price is so high, but we think it should be higher," said Chen Wenbo.
"In the challenging macro-business environment, Hang Lung has adopted rigorous financial management and operational discipline to restore growth momentum," said Hang Lung Group.
The macro environment is under pressure, and the traditionally stable Hong Kong-funded real estate companies are also unable to remain immune. "Both in the mainland and Hong Kong, we are facing unprecedented challenges," said Lu Weibao.
Overall, although the revenue of Hang Lung Group and Hang Lung Properties maintained positive growth, the income and profit performance of their core business of property leasing both showed high single-digit or even double-digit declines.
The revenue growth was mainly due to the sale of 114 residential units in Hong Kong Hao Ri, a mansion in Lan Tong Road, Hong Kong, and 4 units in Wuhan Hang Lung Mansion during the reporting period, with a total revenue of HK$1.228 billion. In the same period last year, the property sales revenue of Hang Lung Group was only HK$2 million.
In the property leasing sector, Hang Lung Group achieved revenue of HK$5.151 billion, down 7% year-on-year, and operating profit of HK$3.624 billion, down 11% year-on-year. Among them, the leasing revenue and operating profit of the mainland market fell by 6% and 11% respectively, and the leasing revenue and operating profit of the Hong Kong market fell by 8% and 11% respectively.