Earnings release
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1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. (Incorporated in Hong Kong with limited liability) (Stock Code: 83) CHAIRMAN’S STATEMENT I am pleased to present 2025/2026 Annual Report to the shareholders. FINAL RESULTS The Group’s underlying profit attributable to shareholders, excluding the effect of fair value changes on investment properties for the year ended 30th June, 202 6 (“Financial Year”) was HK$4,789 million (2024/2025: HK$5,118 million). Underlying earnings per share was HK$0.51 (2024/2025: HK$0.58). After taking into account the revaluation loss (net of deferred taxation) on investment properties of HK$192 million (2024/2025: revaluation loss of HK$ 1,084 million), which is a non -cash item, the Group reported a net profit attributable to shareholders of HK$ 4,589 million for the Financial Year (2024/2025: HK$4,019 million). Earnings per share for the Financial Year was HK$0.49 (2024/2025: HK$0.45). FINAL DIVIDEND The Board of Directors have resolved to recommend a final dividend of HK43 cents per share in respect of the Financial Year. The final dividend will be payable to shareholders whose names appear on the Register of Members of the Company on 3rd November, 2026. Together with the interim dividend of HK15 cents per share paid on 23rd April, 2026, the total dividend for the Financial Year is HK58 cents per share. The Board of Directors propose that shareholders be given the option to receive the final dividend in new shares in lieu of cash. The scrip dividend proposal is subject to: (1) the approval of the proposed final dividend at the Annual General Meeting to be held on 27th October, 2026; and (2) The Stock Exchange of Hong Kong Limited granting the listing of and permission to deal in the new shares to be issued pursuant to this proposal.
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2 A circular containing details of the scrip dividend proposal will be dispatched to shareholders together with the form of election for scrip dividend on or about 10th November, 2026. It is expected that the final dividend warrants and share certificates fo r the scrip dividend will be dispatched to shareholders on or about 4th December, 2026. BUSINESS REVIEW (1) Sales Activities Total revenue from property sales for the Financial Year, including property sales of associates and joint ventures, attributable to the Group was HK$10,410 million (2024/2025: HK$10,813 million). Total revenue from property sales comprises mainly the sales of residential units in projects completed during the financial year 2024/2025 namely Villa Garda I, II and III in Tseung Kwan O and Grand Mayfair I and II in Yuen Long, as well as the sales of remaining stocks of residential units and carparking spaces in projects completed in previous financial years, including St. George’s Mansions in Ho Man Tin, La Montagne in Wong Chuk Hang, Grand Victoria in South West Kowloon , and La Marina in Wong Chuk Hang . In addition, the results included the recognition of sales from The Reserve Residences in Singapore, booked in accordance with prevailing accounting standards. During the Financial Year, the Group launched three new residential projects in H ong Kong for sale, namely Grand Mayfair III in Yuen Long (69.7% sold), ONE PARK PLACE in Yau Tong (62.6% sold) and La Mirabelle I in Tseung Kwan O (68.0% sold). In addition, certain units of the remaining stocks of projects launched in previous periods have been launched for sale. These projects are St. George’s Mansions in Ho Man Tin (92.6% sold), Villa Garda I and II in Tseung Kwan O (99.5% sold), Grand Mayfair I and II in Yuen Long (99.6% sold), and Grand Victoria in South West Kowloon (99.4% sold). Looking ahead, the Group plans to launch the Wing Kwong Street/Sung On Street Development Project in To Kwa Wan. Subject to the receipt of pre-sale consent, which is expected in calendar year 2026, and taking into account prevailing market conditions, the Group will determine the appropriate timing for the project launch. Subsequent to the Financial Year, certain units at La Mirabelle II in Tseung Kwan O have been launched for sale since July 2026. (2) Land Bank As at 30th June, 202 6, the Group had a land bank of approximately 19.4 million square feet of attributable floor area in Chinese Mainland, Hong Kong, Singapore and Sydney which comprises a balanced portfolio of properties of which 49.1% is commercial; 27.1% residential; 9.7% industrial; 8.1% car parks and 6.0% hotels. In terms of breakdown of the land bank by status, 3.9 million square feet were properties under development, 13.6 million square feet of properties for investment and hotels, together with 1.9 million square feet of properties held for sale. This land bank should be sufficient to meet the Group’s development needs over the next few years. The Group will continue to be selective in replenishing its land bank to optimise its earnings potential.
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3 During the Financial Year, the Group acquired in Hong Kong two sites from the HKSAR Government and was awarded the development rights of a site from MTR Corporation Limited with total attributable floor area of 1,031,82 6 square feet. Details of the projects are as follows: Location Usage Group’s Interest Attributable Floor Area (Square feet) Tuen Mun Town Lot No. 569 Hoi Chu Road, Tuen Mun, New Territories, Hong Kong Residential 100% 282,102 New Kowloon Inland Lot No. 6674 Choi Hing Road, Jordan Valley, Kowloon, Hong Kong Residential/ Commercial 85% 315,379 Lot No. 2329 in Demarcation District No. 106 Kam Sheung Road Station Phase Two Property Development, Yuen Long, New Territories, Hong Kong Residential/ Commercial Joint Venture 434,345 1,031,826 Subsequent to the Financial Year, the Group acquired a site in Hong Kong from the HKSAR Government. Details of the project are as follows: Location Usage Group’s Interest Attributable Floor Area (Square feet) HSK Town Lot Nos. 18 to 21 Hung Shui Kiu / Ha Tsuen New Development Area, Yuen Long, New Territories, Hong Kong Residential/ Commercial/ Enterprise and Technology Park 17% 365,332
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4 (3) Property Development During the Financial Year, the Group obtained Occupation Permit for the following project in Hong Kong. Details of the project are as follows: Location Usage Group’s Interest Attributable Floor Area (Square feet) Grand Mayfair III 29 Kam Ho Road, Yuen Long, New Territories, Hong Kong Residential Joint Venture 120,537 During the Financial Year, the Group obtained Certificate of Compliance for the following project in Hong Kong. Details of the project are as follows: Location Usage Group’s Interest Attributable Floor Area (Square feet) ONE CENTRAL PLACE 33 Gage Street, 23 and 25 Peel Street, Hong Kong Residential 100% 84,261 (4) Rental Activities For the Financial Year, the Group’s attributable gross rental revenue, including share from associates and joint ventures, was HK$3, 432 million (2 024/2025: HK$3, 486 million), representing a 1.5% year-on-year decline. The decrease was primarily attributable to the continued challenging operating environment in the retail and industrial sectors. This was partially offset by increased contributions from the residential portfolio, including the maiden rental income contribution from ONE CENTRAL PLACE, as well as improved office occupancy . Net rental income for the Financial Year was HK$ 2,715 million (2024/2025: HK$ 2,782 million), representing a decrease of 2.4% year -on-year. The larger decline in net rental income relative to gross rental income was primarily attributable to the full-year operational impact of Qianhai Kerry Centre Phase III and ONE CENTRAL PLACE, as well as the evolving retail tenancy mix, which resulted in higher operating expenses. Overall occupancy of the Group’s investment property portfolio improved to 90.0% during the Financial Year (2024/2025: 89.6%), representing an increase of 0.4 percentage point compared with the same period last year. Residential continued to perform strongly, with occupancy rising by 2.0 percentage points to 92.7% (2024/2025: 90.7%). The office and retail portfolios also recorded encouraging improvements, with occupancy increasing by 0.8 percentage point to 84.7%, and 0.7 percentage point to 93.3%, respectively. The industrial portfolio, however, faced a more challenging operating environment, w ith occupancy easing to 86.5% (2024/2025: 88.5%).
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5 The retail operating environment remained dynamic throughout the year. While Hong Kong’s overall retail sales have shown steady signs of recovery since May 2025, the growth in e -commerce continued to outpace that of traditional retail channels, underscoring the structural shift in consumer purchasing behaviour and the increasing adoption of online shopping channels. Coupled with the persistently high level of outbound travel by local residents during extended holidays, the recovery has yet to translate meaningfully into rental income growth across the Group’s major shopping malls. Encouragingly, occupancy levels continued to improve gradually, signalling growing tenant confidence and improving business sentiment. The Group remained proactive in driving footfall and tenant sales through targeted marketing campaigns, promotional initiatives and asset enhancement programmes. During the F inancial Year, the Group opened tmtp commons, featuring dedicated pickleball facilities that support elite athlete development while promoting wider community participation in one of the world ’s fastest-growing sports. In addition, OC Commons was launched as an outdoor community space and playground designed to support children ’s physical, sensory, social and cognitive development. To align with government’s initiative to promote Sports Economy and efforts to foster greater community engagement, the Group installed large screens and created vibrant community gathering spaces at key flagship malls, offering complimentary live broadcasts of the FIFA World Cup for patrons. The Group also collaborated closely with tenants to extend business hours and launch attractive shopping and dining promotions, creating a lively atmosphere around these major international events. These customer-centric initiatives enhanced the overall shopping experience and delivered greater value to patrons, and also strengthened engagement with the Group ’s “S+ REWARDS” loyalty programme. Supported by these efforts, our major flagship malls recorded positive year -on-year growth in foot traffic despite the challenging retail environment. We will continue to monitor market trends and focus on introducing more sports-related activities into the community, such as pickleball, basketball and fencing to strengthen community engagement and drive foot traffic to our malls. On the other hand, following several years of challenges, Hong Kong ’s office sector has shown encouraging signs of stabilisation. Supportive measures, including the suspension of commercial land sales and the introduction of policies facilitating the conversion of hotel and commercial properties into student housing, have helped alleviate excess supply and improve market sentiment . Meanwhile, robust activity in Hong Kong ’s capital markets has contributed to a more constructive outlook for office demand. As a result, the Group’s office portfolio recorded an occupancy increase of 0.8 percentage point during the Financial Year. Looking ahead, while the office market continues to face a relatively high level of new supply, Hong Kong remains well positioned to benefit from the Central Government’s ongoing support for deeper economic integration , the continued development of the Greater Bay Area , and the emergence of new growth drivers associated with the Northern Metropolis. As business activity gathers momentum, leasing demand from Chinese Mainland enterprises is expected to recover progressively. The Group is actively capitalising on the improvement in capital market activity and increased tenant enquiries to backfill vacancies across our portfolio. Supported by best-in-class building specifications and recognised building credentials, the Group ’s office portfolio is well-positioned to attract tenants seeking high-quality, sustainable office environments. Residential leasing performance remained robust during the Financial Year, underpinned by strong housing demand from incoming talent, overseas students and professionals. To capitalise on this favourable market trend, the Group strategically repositioned O NE CENTRAL PLACE as premium residences with service provisions, catering to the
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6 evolving needs of quality tenants. Since its launch in July 2025, the property has been well received by the market and achieved an occupancy rate of 94.6% as at the end of the Financial Year. The outlook for the sector remains positive. Supported by ongoing talent attraction initiatives and sustained demand from overseas students and professionals, the Group expects its residential portfolio to continue delivering resilient performance and stable growth. As at 30th June, 2026, the Group has approximately 13.6 million square feet of attributable floor area of investment properties and hotels in Chinese Mainland, Hong Kong, Singapore and Sydney. Of this portfolio, commercial developments (retail and office) account for 63.2%, industrial 11.6%, car parks 11.6%, hotels 8.8%, and residential 4.8%. (5) Hotels For the Financial Year, the Group’s hotel revenue, including attributable share from associates and joint ventures, was HK$1,565 million compared to HK$1,506 million last year, and the corresponding operating profit was HK$ 519 million (2024/2025: HK$475 million). Tourist arrivals to Hong Kong continued to recover steadily in the first half of 2026, with total visitor arrivals increasing by 13.0% year -on-year to exceed 26.7 million. While visitors from Chinese Mainland remained the primary growth driver, long -haul markets also recorded encouraging growth. Visitor arrivals from the United States, Canada, France, Germany, the United Kingdom and Australia collectively increased by 19.3% year-on-year, supporting overnight room demand and providing a meaningful boost to the tourism and hospitality sectors. The recovery was supported by the HKSAR Government’s ongoing efforts to promote the integrated development of culture, sports and tourism, alongside a strong pipeline of mega -events, international sporting competitions and world -class entertainment programmes. Looking ahead, Hong Kong’s tourism outlook remains positive. The opening of the new Terminal 2 at Hong Kong International Airport, together with the Hong Kong Tourism Board’s initiatives to attract higher-spending overnight visitors and an expanding calendar of major events, is expected to support sustained growth in visitor arrivals and further strengthen Hong Kong’s position as a leading international tourism and events destination. Meanwhile, our Singapore operations continue to face increasing headwinds. Visitor arrivals have moderated month -on-month since reaching a recent high in January 2026, while the continued expansion of hotel room supply has intensified competition across th e market. Coupled with ongoing geopolitical uncertainties and the strength of the Singapore dollar, these factors have exerted downward pressure on room rates and tourism demand. Despite these challenging market conditions, our two Singapore hotels achieved higher occupancy rates compared with the same period last year and maintaining RevPAR outperformance against their respective competitive sets. This underscores the strength of their market positioning and effective commercial strategies. The Group remains proactive in responding to evolving market trends and changing customer preferences. While disciplined cost management continues to be a strategic priority amid persistent inflationary pressures, we are concurrently implementing initiatives to enhance operational efficiency and elevate service standards. These efforts are aimed at delivering exceptional guest experience while strengthening the long -term competitiveness of our hospitality portfolio. Conrad Hong Kong delivered significant
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7 improvement in operating performance, underpinned by robust growth in both business and leisure travel demand, which supported higher room and food and beverage margins. The Fullerton Ocean Park Hotel Hong Kong recorded a notable year -on-year improvement in occupancy, underpinned by stronger guest demand during the summer and festive periods and growing long -stay patronage . Following its reopening in September 2023, The Olympian Hong Kong implemented new commercial and operational strategies that successfully captured additional market opportunities, driving growth in both occupancy and room rates. As at 30th June, 202 6, the Group’s portfolio of hotels comprises The Fullerton Hotel Singapore, The Fullerton Bay Hotel Singapore, The Fullerton Ocean Park Hotel Hong Kong, Conrad Hong Kong, The Fullerton Hotel Sydney and The Olympian Hong Kong. (6) Chinese Mainland Business As at 30th June, 202 6, the Group had approximately 3.3 million attributable square feet of land bank in Chinese Mainland. Of the total, approximately 0.7 million square feet are projects under development and the remaining are mainly investment properties. There is one key project under development, namely the Group’s 20% interest in The Palazzo in Chengdu. Other than the matters mentioned above, there has been no material change from the information published in the report and accounts for the year ended 30th June, 2025. FINANCE The Group’s financial position remains strong. As at 30th June, 202 6, the Group at subsidiary level had cash and bank deposits of HK$ 58,022 million. After netting off total borrowings of HK$2,892 million, the Group had net cash of HK$ 55,130 million as at 30th June, 202 6. The Group is in net cash position, therefore gearing ratio, calculated on the basis of net debt to equity attributable to the Company’s shareholders, is not applicable. All borrowings are long-term in nature, with maturities exceeding one year, and are subject to floating interest rates. Total assets and shareholders’ funds of the Group were HK$191,729 million and HK$173,875 million, respectively. Net book value of the Group attributable to the Company’s shareholders was HK$18.14 per share as at 30th June, 2026 (HK$18.51 per share as at 30th June, 2025). As at 30th June, 202 6, all of the Group’s debts are denominated in Hong Kong dollars. Other than the above-mentioned, there was no material change in borrowings and the capital structure of the Group for the Financial Year. The majority of the Group’s cash and bank balances are denominated in US dollars and Hong Kong dollars with a portion in Renminbi and Singapore dollars. The Group has maintained a sound financial management policy and foreign exchange exposure has been kept at a minimal level.
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8 CORPORATE GOVERNANCE The Group places great importance on corporate integrity, business ethics and good governance. With the objective of practising good corporate governance, the Group has formed Audit, Compliance, Remuneration and Nomination Committees. The Group is committed to maintaining corporate transparency and disseminates information about new developments through various channels, including press releases, its corporate website, results briefings, non- deal roadshows, site visits and participation in investor conferences. CUSTOMER SERVICE The Group is committed to building quality projects. In keeping with its mission to enhance customer satisfaction, the Group will, wherever possible, ensure that attractive design concepts and features are also environmentally -friendly for its developments. Management conducts regular reviews of the Group’s properties and services so that improvements can be made on a continuous basis. SUSTAINABILITY The Group is committed to “Creating Better Lifescapes” and endeavours to integrate sustainability into its business through three interconnected areas: Green Living, Innovative Design, and Community Spirit. The Group also seeks to create long-term environmental, social and governance (“ESG”) value for stakeholders and the communities in which we operate. Our annual sustainability report highlights our sustainability performance and initiatives. It is prepared in accordance with the Global Reporting Initiative (“GRI”) Standards, and meets the requirements of the “Environmental, Social and Governance Reporti ng Code” set out in Appendix C2 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The sustainability report also provides disclosures with reference to the World Economic Forum (“WEF”) Stakeholder Capitalism Metri cs, the Sustainability Accounting Standards Board (“SASB”) Real Estate Industry Standard, and the International Sustainability Standards Board’s (“ISSB”) International Financial Reporting Standards (“IFRS”) S1 General Requirements for Disclosure of Sustain ability-related Financial Information and IFRS S2 Climate-related Disclosures. In addition, our climate actions are disclosed with reference to the Task Force on Climate -related Financial Disclosures (“TCFD”) recommendations and our nature-related performa nce with reference to the Taskforce on Nature -related Financial Disclosures (“TNFD”) framework. As a signatory to the United Nations Global Compact (“UNGC”), we also disclose how we implement the UNGC’s Ten Principles regarding environmental, social and ethical practices. Local and international ESG ratings and recognitions We are humbled that our corporate sustainability efforts have been recognised across multiple global and regional ESG ratings. During the Financial Year, the Company was named one of the World’s Most Sustainable Companies by TIME Magazine and Statista for the third consecutive year. In the S&P Global Sustainability Yearbook 2026, the Company was recognised as a “Top 5% S&P Global Corporate Sustainability Assessment (CSA) Score”
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9 company in the Real Estate Management & Development industry. It was also the only company in the industry recognised as a “Top 1% S&P Global CSA Score (China)” company in the S&P Global Sustainability Yearbook 2026 (China Edition). Furthermore, the Compan y received the highest “AAA” rating in the MSCI ESG Ratings. It was included on CDP’s Climate Change A List for the second consecutive year and remained as a constituent of the Dow Jones Best-in-Class (“DJBIC”) World Index for the second consecutive year. Meanwhile, the Company was recognised as a Global Sector Leader in the Development Benchmark — Residential category in the Global Real Estate Sustainability Benchmark (“GRESB”) Real Estate Assessment, achieving the highest five -star rating in both the Development Benchmark and Standing Investments Benchmark. Regionally, the Company ranked first in the Greater China Real Estate Business Sustainability Index (“REBSI”) and remained among the Top 10 in the Greater Bay Area Business Sustainability Index (“GBABSI”) for the sixth consecutive year. The Company achieved the highest “AAA” rating in the 2025/2026 Hang Seng Corporate Sustainability Index Series assessment. Furthermore, it was included as a constituent of the Hang Seng Corporate Sustainability Index, Han g Seng (Mainland and HK) Corporate Sustainability Index, and the Hang Seng ESG 50 Index. It also remained in the FTSE4Good Index Series for the second consecutive year. ESG accolades We have been recognised with over 200 awards for our collective efforts in promoting ESG and sustainability during the Financial Year. Notably, the Group earned the Individual SDG Award at the UNSDG Achievement Awards Hong Kong 2025 for its Discover Shui Hau project and three accolades at the Hong Kong ESG Reporting Awards (HERA) 2025, including Excellence in Environmental Positive Impact – Grand Award. Meanwhile, the Company garnered five accolades at the ESG Achievement Awards 2024/2025, two accolades at the Hong Kong Corporate Governance and ESG Excellence Awards 2025, and three accolades at the TVB ESG Awards 2025, including Best in ESG Practices (Large market capitalisation). Furthermore, the Company received seven accolades at the 16th Asian Excellence Award organised by Corporate Governance Asia magazine. Governance Reflecting its commitment to raising awareness about climate change among suppliers, the Company was included on CDP’s Supplier Engagement Assessment A List for the second consecutive year. To encourage colleagues and their families to embrace sustainable practices, the Group organised Sino Sustainability Month in collaboration with close to 15 partners, including environmental social enterprises, green -technology start -ups, academic institut ions and professional bodies, organis ing visits, workshops and hands -on experiential activities for colleagues. The programme extended from Hong Kong to Singapore and Sydney, attracting nearly 300 employees to participate in the activities, and over 650 training hours were delivered through the Sino Sustainability Academy. Green Living Launched in May 2025, the Supplier Climate Alliance supports suppliers in building awareness of climate-related challenges and promoting carbon management. Over the past year, more than 120 participants have taken part in training and capacity-building programmes covering topics such as green technology, biodiversity and ESG. To mark the first anniversary of the Alliance and welcome the second cohort of participating suppliers, the Group hosted the annual
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10 knowledge exchange and sharing session, bringing together close to 80 representatives from across the supply chain. In support of ecological enhancement, marine conservation and education, the Group partnered with the City University of Hong Kong in the “Oyster Inno Discovery” education programme. Centred on oyster reef restoration, the programme combines scientific research, technology and hands-on experience, allowing participants to learn about marine ecology and restoration through experiential learning. Approximately 300 sets of oyster shell strings, hand -crafted by participants, have been deployed at the Marina of Gold Co ast Yacht & Country Club (“GCYCC”), transforming the site into a living classroom for ecological education and providing scientific reference for evaluating ecological benefits. To date, the programme has engaged nearly 1,000 primary and secondary students , GCYCC and Sino Club members, and colleagues. To encourage public participation in the circular economy, the Group launched its first cross-district, cross-sector “GoCircular” experiential campaign, in partnership with the Group’s five major shopping malls and over 30 local brands, 12 green -technology partners, young creators, upcycling designers and local start -ups to offer a diverse range of activities, showcasing how the circular economy can be incorporated into daily life. In collaboration with Sino Property Services and Christian Action, the Group organised a preloved items collection drive across nearly 140 residential properties, office buildings and shopping malls, collecting 8,870 kg of well -maintained items over a month. Colleagues volunteered to sort the collected items for charity sale, with proceeds donated to a charity organisation, putting the principles of “Reuse, Renew and Share” into practice. Innovative Design The Spark by Sino Inno Lab celebrated its second anniversary and has showcased more than 70 PropTech, ConTech, GreenTech and WellnessTech solutions over the past two years. Since its inception, it has welcomed more than 5,700 global visitors across 210 events. Furthermore, Sino Inno Lab was named Tech Impact Company of the Year (Large Enterprise) at the Tech Fest Hong Kong Awards, recognising its efforts in fostering innovation. Sino Inno Lab and The Spark partnered with Social Ventures Hong Kong and over 30 partners from various sectors in August 2025 to organise One North STEAM AI Summer, the first large- scale AI-themed educational event in the Northern Metropolis. The event attracted over 40,000 visits and featured over ten technology projects from tertiary institutions, tech companies, and young innovators. Committed to cultivating an innovative mindset, the Group partnered with Hong Kong University of Science and Technology for the eighth year on the HKUST-SINO One Million Dollar Entrepreneurship Competition 2025. The competition this year attracted 348 teams from around the world to compete and exchange innovative ideas to develop practical solutions for a sustainable future in areas such as healthcare, sustainability, AI -powered solutions, robotics, and cutting-edge technologies. Since 2019, Sinovation has served as a collaborative platform for employees to explore practical, AI-enabled solutions addressing business challenges. This year’s winning teams presented innovative solutions ranging from AI hotel management and automated e-directory designs to AI tenant satisfaction analysis and unmanned carparks, all focused on enhancing operational efficiency and customer experience. The programme was further strengthened by offering a series of AI capability -building workshops for participants, in collaboration with HKUST
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11 Sustainable Smart Campus as a Living Lab (SSC), the Hong Kong Science and Technology Parks Corporation and the Hong Kong Productivity Council. Dedicated to empowering local innovation and nurturing talent, the Group supported the Hong Kong Innovation Foundation as Principal Patron of the Fifth Hong Kong Science Fair . The annual flagship exhibition attracted over 60,000 visits . It showcased innovative projects from around 120 shortlisted teams from primary and secondary schools, whose creative inventions turned everyday challenges into practical, life-changing solutions. Community Spirit Since 2008, Sino Caring Friends, the Group’s corporate volunteering team, has built strong bonds with the community and supported less -resourced families across various districts of Hong Kong. The Group, alongside 13 community partners and over 100 dedicated Sino Caring Friends, served the community through an array of activities, including a celebratory luncheon, home visits and planting workshops, during the Lunar New Year. They shared festive joy and warmth with around 1,400 underprivileged individuals, children and the elderly. The Group sponsored about 300 colleagues, together with their family members and friends, to participate in The Community Chest New Territories Walk for Millions 2026. Funds raised from the Walk will support The Community Chest’s member agencies in providing family and child welfare services. Furthermore, the Group and the Ng Teng Fong Charitable Foundation have been supporting the Pilot Programme on Community Living Room, initiated by the HKSAR Government, by providing venues and amenities, and offering free Chinese medicine consultations to members. We further expanded the support through the fourth Community Living Room at Shanghai Street, Jordan, which commenced operation during the year . The Jordan Community Living Room extends community support to more families living in sub -divided units and ethnic minorities, while offering additional shared facilities and services to enhance their quality of life and strengthen neighbourhood connections. PROSPECTS Hong Kong’s economy demonstrated encouraging momentum in the first half of 2026, supported by vibrant capital market activity, resilient external trade and continued growth in visitor arrivals. Real GDP expanded by 5.1% year-on-year, marking the strongest half-year growth in nearly five years, while IPO fundraising reached a five-year high in the first half of the year. The improving macroeconomic environment supported steady performance across key sectors of the economy. Notwithstanding the more favourable operating environment, uncertainties remain. The global geopolitical landscape continues to be complex, and any escalation of tensions could increase market volatility, weigh on global economic growth and place upward pr essure on commodity prices and inflation. In addition, evolving interest rate expectations may influence financing costs, investment activity and market sentiment. Against this backdrop, the Group will continue to closely monitor macroeconomic, geopolitica l and financial developments while maintaining a disciplined approach to capital management, cost control and operational flexibility, positioning
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12 the Group to navigate evolving market conditions. The HKSAR Government is formulating Hong Kong’s first Five -Year Plan, which is expected to provide greater clarity and strategic direction for the city’s long-term development, economic planning and policy priorities. Through closer alignment with national strategies, reinforcement of Hong Kong’s competitive strengths and support for innovation and technology, the Plan is expected to unlock new opportunities while guiding the long -term development of the Northern Metropolis. We welcome and fully support this important initiative. In alignment with these long -term objectives and the National 15th Five -Year Plan, the Group, together with its cross -sector joint venture partners, was awarded the development project for the first p ilot area within the Hung Shui Kiu/Ha Tsuen New Development Area in the Northern Metropolis subsequent to the Financial Year. The project will leverage innovation and cross-industry collaboration to develop a large -scale smart logistics and industrial hub integrated with residential and community commercial facilities, supporting industrial upgrading and the development of the Northern Metropolis while reinforcing Hong Kong’s position as an international logistics and trading hub. This investment underscores our confidence in Hong Kong’s long -term future and commitment to contributing to the city’s sustainable growth and development. The HKSAR Government’s continued measures to support the property market have contributed to a more stable and healthier operating environment. Initiatives such as talent admission schemes and the expansion of overseas student quotas at local universities have helped underpin residential demand and leasing activity. Reflecting these positive developments, market sentiment and transaction activity have improved, supporting a gradual recovery in the residential property market. The Group launched three major residential developments during the Financial Year, namely Grand Mayfair III, ONE PARK PLACE and La Mirabelle I, which were well received by the market. Total contracted sales in Hong Kong, including projects managed by our j oint venture partners, exceeded 3,500 units during the Financial Year, generating HK$12.1 billion in attributable sales proceeds. The robust performance highlights the resilience of the Hong Kong residential property market, and we remain committed to the Hong Kong market. To support our medium-term development, the Group replenished our land bank with three sites of good development value through public tenders during the Financial Year, namely New Kowloon Inland Lot No. 6674 at Choi Hing Road, Jordan Valley; Tuen Mun Town Lot No. 569 at Hoi Chu Road, Tuen Mun; and the Kam Sheung Road Station Phase Two Property Development in Yuen Long. Notably, the Kam Sheung Road Station Phase Two project marks an important step in expanding our presence in the Northern Metropolis. These a cquisitions reflect our disciplined and selective approach to land replenishment, focusing on projects with strong development potential while maintaining financial prudence. Artificial intelligence (“AI”) is one of the most transformative megatrends of our time, and the Group is investing in upskilling our people to help us better prepare for the AI-powered era. The Group has established the AI Transformation Committee, which sets forth directions and provides guidance to ensure responsible adoption of AI to enhance innovation and raise productivity, strengthening the Group’s long-term competitiveness. The Group’s sustainability efforts continued to gain recognition both locally and internationally. During the Financial Year, Sino Land was ranked among the Top 1% in the Real Estate
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13 Development Sector in the S&P Global Sustainability Yearbook 2026 (China Edition) and was named one of the World’s Most Sustainable Companies by TIME Magazine and Statista for the third consecutive year. These recognitions reflect our continued progress in advancing our “Creating Better Lifescapes” mission, with sustainability embedded across our business strategy, operations and community initiatives. Looking ahead, Hong Kong’s economic outlook remains resilient. As we navigate an increasingly dynamic environment shaped by rapid technological changes, geopolitical developments, demographic shifts and macroeconomic uncertainties, the Group will remain ag ile and forward- looking. Guided by prudent financial management, operational excellence, sustainability and a steadfast commitment to quality, we will continue to enhance our competitiveness and drive long- term growth. Supported by a solid financial positi on and clear strategic direction, the Group is well positioned to navigate market cycles, capture opportunities, and create sustainable value for our stakeholders. STAFF AND MANAGEMENT On behalf of the Board, I would like to take this opportunity to express my sincere appreciation to all staff for their commitment, dedication and continuing support. I would also like to express my gratitude to my fellow Directors for their guidance and wise counsel. Daryl NG Win Kong Chairman Hong Kong, 1st September, 2026
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14 (Incorporated in Hong Kong with limited liability) (Stock Code: 83) FINAL RESULTS The audited results of the Group for the year ended 30th June, 2026 are as follows: Consolidated Statement of Profit or Loss 2026 2025 Notes HK$ Million HK$ Million Revenue 2 9,273 8,183 Cost of sales (2,428 ) (1,824 ) Direct expenses (2,629 ) (2,464 ) Gross profit 4,216 3,895 Change in fair value of investment properties 337 (653 ) Other income and other gains or losses 429 239 Change in fair value of financial assets at fair value through profit or loss (“FVTPL”) 35 9 Administrative expenses (977 ) (899 ) Other operating expenses (391 ) (349 ) Finance income 1,923 2,258 Finance costs (139 ) (99 ) Less: interest capitalised 93 39 Finance income, net 1,877 2,198 Share of results of associates 3 416 107 Share of results of joint ventures 4 (535 ) (75 ) Profit before taxation 5 5,407 4,472 Income tax expense 6 (774 ) (471 ) Profit for the year 4,633 4,001 Attributable to: The Company’s shareholders 4,589 4,019 Non-controlling interests 44 (18 ) 4,633 4,001 Interim dividend at HK15 cents (2025: HK15 cents) per share 1,423 1,352 Proposed final dividend at HK43 cents (2025: HK43 cents) per share 4,122 3,935 Earnings per share (reported earnings per share) – basic 7(a) HK$0.49 HK$0.45 Earnings per share (underlying earnings per share) – basic 7(b) HK$0.51 HK$0.58
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15 Consolidated Statement of Profit or Loss and Other Comprehensive Income For the year ended 30th June, 2026 2026 2025 HK$ Million HK$ Million Profit for the year 4,633 4,001 Other comprehensive income Items that will not be reclassified to profit or loss: Change in fair value of equity instruments at fair value through other comprehensive income (“FVTOCI”) 386 309 Remeasurement of long service payment liabilities 16 (7 ) 402 302 Items that may be reclassified subsequently to profit or loss: Exchange differences arising on translation of foreign operations 409 432 Change in fair value of debt instruments at FVTOCI - 3 409 435 Other comprehensive income for the year 811 737 Total comprehensive income for the year 5,444 4,738 Total comprehensive income attributable to: The Company’s shareholders 5,400 4,756 Non-controlling interests 44 (18 ) 5,444 4,738
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16 Consolidated Statement of Financial Position At 30th June, 2026 2026 2025 Notes HK$ Million HK$ Million Non-current assets Investment properties 68,496 66,044 Hotel properties 1,651 1,708 Property, plant and equipment 239 208 Right-of-use assets 1,134 1,168 Interests in associates 16,878 16,629 Interests in joint ventures 7,943 7,234 Equity and debt instruments 1,775 1,616 Advances to associates 2,831 4,766 Advances to joint ventures 8,960 8,782 Long-term loans receivable 3,489 2,459 Deferred taxation 3 4 113,399 110,618 Current assets Properties under development 11,972 9,963 Stocks of completed properties 2,618 4,621 Hotel inventories 3 4 Equity and debt instruments 10 8 Amounts due from associates 1,495 1,800 Amounts due from joint ventures 2,188 3,403 Amounts due from non-controlling interests 41 20 Trade and other receivables 8 1,394 1,545 Current portion of long-term loans receivable 584 368 Taxation recoverable 3 3 Time deposits 9 55,309 48,942 Bank balances and cash 9 2,713 2,318 78,330 72,995 Current liabilities Trade and other payables 10 4,144 4,098 Lease liabilities 32 35 Contract liabilities 2,227 329 Amounts due to associates 1,229 1,035 Amounts due to non-controlling interests 1,843 2,032 Taxation payable 759 424 Bank borrowings – due within one year - 1,799 10,234 9,752 Net current assets 68,096 63,243 Total assets less current liabilities 181,495 173,861
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17 Consolidated Statement of Financial Position – continued At 30th June, 2026 2026 2025 HK$ Million HK$ Million Capital and reserves Share capital 72,645 68,209 Reserves 101,230 101,188 Equity attributable to the Company’s shareholders 173,875 169,397 Non-controlling interests 508 500 Total equity 174,383 169,897 Non-current liabilities Bank borrowings – due after one year 2,892 - Lease liabilities 19 15 Deferred taxation 2,869 2,772 Advances from associates 1,137 1,107 Advances from non-controlling interests 195 70 7,112 3,964 181,495 173,861
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18 Notes: 1. Basis of preparation The consolidated financial statements have been prepared in accordance with HKFRS Accounting Standards, which collective term includes all applicable individual Hong Kong Financial Reporting Standards (“HKFRSs”), Hong Kong Accounting Standards (“HKASs”) and Interpretations issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and with applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and by the Hong Kong Companies Ordinance. The consolidated financial statements have been prepared on the historical cost basis except for investment properties and certain financial instruments, which are measured at fair values. The financial information relating to the years ended 30th June, 20 26 and 2025 included in this preliminary announcement of annual results does not constitute the Company’s statutory annual consolidated financial statements for those years but is derived from those financial statements. Further information relating to these statutory financial statements required to be disclosed in accordance with section 436 of the Hong Kong Companies Ordinance is as follows: The Company has delivered the financial statements for the year ended 30th June, 20 25 to the Registrar of Companies as required by section 662(3) of, and Part 3 of Schedule 6 to, the Hong Kong Companies Ordinance and will deliver the financial statements for the year ended 30th June, 2026 in due course. The Company’s auditor has reported on the financial statements of the Company and its subsidiaries (the “Group”) for both years. The auditor’s reports were unqualified; did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying its reports; and did not contain a statement under sections 406(2), 407(2) or (3) of the Hong Kong Companies Ordinance. Amendments to HKFRS Accounting Standards that are mandatorily effective for the current year In the current year, the Group has applied the following amendments to HKFRS Accounting Standards issued by the HKICPA for the first time, which are effective for the annual period beginning on or after 1st July, 202 5 for the preparation of the consolidated financial statements: Amendments to HKAS 21 The effects of changes in foreign exchange rates - Lack of exchangeability The application of amendments to HKFRS Accounting Standards in the current year has had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in the consolidated financial statements.
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19 2. Operating segments The Group’s operating segments are reported by six operating divisions – property sales, property rental, property management and other services, hotel operations, investments in securities and financing. This is the measure reported to the chief operating decision makers, being the Directors of the Company, for the purposes of resources allocation and performance assessment. No operating segment identified by chief operating decision makers has been aggregated in arriving at the reportable segments of the Group. Segment results For the year ended 30th June, 2026 The Company and its subsidiaries Associates and joint ventures Total External Share of Share of Segment Segment revenue Results revenue results revenue results HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million Property sales 4,032 1,321 6,379 (170 ) 10,411 1,151 Property rental 2,689 2,114 763 616 3,452 2,730 6,721 3,435 7,142 446 13,863 3,881 Property management and other services 1,435 269 114 13 1,549 282 Hotel operations 977 372 588 147 1,565 519 Investments in securities 80 80 - - 80 80 Financing 60 60 8 8 68 68 9,273 4,216 7,852 614 17,125 4,830 For the year ended 30th June, 2025 The Company and its subsidiaries Associates and joint ventures Total External Share of Share of Segment Segment revenue Results revenue results revenue results HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million Property sales 2,912 685 8,008 345 10,920 1,030 Property rental 2,749 2,162 759 637 3,508 2,799 5,661 2,847 8,767 982 14,428 3,829 Property management and other services 1,414 264 114 4 1,528 268 Hotel operations 950 365 556 110 1,506 475 Investments in securities 68 68 - - 68 68 Financing 90 90 8 8 98 98 8,183 3,634 9,445 1,104 17,628 4,738 Measurement Segment results represent the profit before taxation earned by each segment without allocation of certain other income and other gains or losses , certain administrative expenses and other operating expenses , change in fair value of investment properties and financial assets at FVTPL and certain finance income, net. The profit before taxation earned by each segment also includes the share of results from the Group’s associates and joint ventures without allocation of the associates’ and joint ventures’ certain other income and other gains or losses, certain administrative expenses and other operating expenses, change in fair value of investment properties, finance costs, net and income tax expense.
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20 2. Operating segments – continued Reconciliation of profit before taxation 2026 2025 HK$ Million HK$ Million Segment profit 4,830 4,738 Change in fair value of investment properties 337 (653 ) Other income and other gains or losses 151 235 Change in fair value of financial assets at FVTPL 35 9 Administrative expenses and other operating expenses (1,088 ) (977 ) Finance income, net 1,875 2,192 Results shared from associates and joint ventures - Other income and other gains or losses 470 141 - Change in fair value of investment properties (604 ) (491 ) - Administrative expenses and other operating expenses (244 ) (256 ) - Finance costs, net (266 ) (270 ) - Income tax expense (89 ) (196 ) (733 ) (1,072 ) Profit before taxation 5,407 4,472 During the year ended 3 0th June, 20 26, inter -segment sales of HK $160 million (2025: HK$145 million) were not included in the segment of “property management and other services”. There were no inter-segment sales in other operating segments. Inter-segment sales were charged on a cost plus margin basis as agreed between the parties involved. Geographical information The Group operates in four principal geographical areas – Hong Kong, Chinese Mainland, Singapore and Australia. The Group’s revenue from external customers and share of revenue from associates and joint ventures by location of operations and information about its non-current assets by location of assets, excluding financial instruments and deferred taxation, are detailed below: The Company’s and its subsidiaries’ external revenue Share of revenue from associates and joint ventures The Group’s non-current assets 2026 2025 2026 2025 2026 2025 HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million HK$ Million Chinese Mainland and Hong Kong 8,211 7,147 7,059 9,263 89,771 87,460 Singapore and Australia 1,062 1,036 793 182 6,570 5,531 9,273 8,183 7,852 9,445 96,341 92,991
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21 3. Share of results of associates The Group’s share of results of associates included the Group’s share of increase in fair value of investment properties of the associates of HK$11 million (2025: share of decrease in fair value of investment properties of the associates of HK$324 million) recognised in the statement of profit or loss of the associates. 4. Share of results of joint ventures The Group’s share of results of joint ventures included the Group’s share of decrease in fair value of investment properties of the joint ventures of HK$ 615 million (2025: HK$167 million) recognised in the statement of profit or loss of the joint ventures. 5. Profit before taxation 2026 2025 HK$ Million HK$ Million Profit before taxation has been arrived at after charging/(crediting): Cost of hotel inventories consumed (included in direct expenses) 98 95 Cost of properties sold 2,428 1,824 Depreciation of property, plant and equipment, hotel properties and right-of-use assets (included in administrative and other operating expenses) 170 158 Right-of-use assets written off - 21 Impairment loss on trade receivables, net of reversal 65 43 Government grants (2 ) (13 )
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22 6. Income tax expense 2026 2025 HK$ Million HK$ Million Tax charge comprises: Taxation attributable to the Company and its subsidiaries Hong Kong Profits Tax Provision for the year 604 352 Over-provision in previous years (3 ) (1 ) 601 351 Taxation in other jurisdictions Provision for the year 84 75 Under-provision in previous years 1 - Land Appreciation Tax in Chinese Mainland 26 4 111 79 712 430 Deferred taxation 62 41 774 471 Under the two -tiered profits tax rates regime, the first HK$2 million of profits of the qualifying group entity will be taxed at 8.25%, and profits above HK$2 million will be taxed at 16.5%. The profits of group entities not qualifying for the two -tiered profits tax rates regime will continue to be taxed at a flat rate of 16.5%. The Group considered the amount involved upon implementation of the two-tiered profits tax rates regime as insignificant to the consolidated financial statements. Hong Kong Profits Tax is calculated at 16.5% of the estimated assessable profit for both years. Taxation for subsidiaries in Singapore and Chinese Mainland are charged at appropriate current rates ruling in the relevant countries. The tax rates used are 17% in Singapore and 25% in Chinese Mainland (2025: 17% in Singapore and 25% in Chinese Mainland). 7. Earnings per share (a) 0BReported earnings per share The calculation of the basic earnings per share attributable to the Company’s shareholders is based on the following data: 2026 2025 HK$ Million HK$ Million Earnings for the purpose of basic earnings per share 4,589 4,019 Number of shares Number of shares Weighted average number of ordinary shares for the purpose of basic earnings per share 9,362,624,501 8,886,695,893
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23 7. Earnings per share – continued (a) 1BReported earnings per share – continued No diluted earnings per share has been presented for the years ended 30th June, 2026 and 2025 as there were no potential ordinary shares outstanding during the current and prior years. (b) 2BUnderlying earnings per share For the purpose of assessing the underlying performance of the Group, underlying earnings per share calculated based on the underlying profit attributable to the Company’s shareholders of HK $4,789 million (2025: HK$5,118 million) is also presented, excluding the net effect of changes in fair value of investment properties of the Group and its associates and joint ventures and including realised fair value gain on interest in an associate upon sales of its properties and realised fair value gain on investment properties disposed of during the year, taking into account tax effect and the amount attributable to the Company’s shareholders. The denominators used are the same as those detailed above for reported earnings per share. A reconciliation of profit is as follows: 2026 2025 HK$ Million HK$ Million Earnings for the purpose of basic earnings per share 4,589 4,019 Change in fair value of investment properties (337 ) 653 Effect of corresponding deferred tax (48 ) (38 ) Share of results of associates - Change in fair value of investment properties (11 ) 324 - Effect of corresponding deferred tax 36 6 Share of results of joint ventures - Change in fair value of investment properties 615 167 - Effect of corresponding deferred tax (44 ) 5 211 1,117 Amount attributable to non-controlling interests (19 ) (33 ) Unrealised change in fair value of investment properties attributable to the Company’s shareholders 192 1,084 Realised fair value gain on investment properties disposed of during the year, net of taxation 8 10 Realised fair value gain on interest in an associate upon sales of its properties during the year - 5 200 1,099 Underlying profit attributable to the Company’s shareholders 4,789 5,118
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24 8. Trade and other receivables Trade receivables mainly comprise rental receivables and property management and other services. Rental receivables are billed and payable in advance by tenants. The following is an ageing analysis of trade receivables (net of allowance for credit losses) at the end of the reporting period: 2026 2025 HK$ Million HK$ Million Current or up to 30 days 159 166 31-60 days 22 12 61-90 days 13 18 Over 90 days 95 137 289 333 Trade receivables overdue more than 90 days (net of allowance for credit losses) amounting to HK$95 million (2025: HK$137 million) are sufficiently covered by rental deposits received from the respective tenants and no significant expected credit losses are considered. 9. Time deposits/bank balances and cash Time deposits and bank balances and cash include cash held by stakeholders of HK$ 1,433 million (2025: HK$ 1,151 million), which are restricted for payments related to property development projects or will be released by stakeholders after completion of the relevant assignments. 10. Trade and other payables At 30th June, 2026, included in trade and other payables of the Group are trade payables of HK$97 million (2025: HK$63 million). The following is an ageing analysis of trade payables presented based on the invoice date at the reporting date: 2026 2025 HK$ Million HK$ Million 1-30 days 90 50 31-60 days 1 2 61-90 days - 3 Over 90 days 6 8 97 63
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25 11. Financial guarantee contracts At the end of the reporting period, the maximum amount that the Group has guaranteed under the contracts was as follows: 2026 2025 HK$ Million HK$ Million Guarantees given to banks in respect of: Banking facilities of associates and joint ventures attributable to the Group - Utilised 4,730 6,144 - Unutilised 2,974 806 7,704 6,950 At 30th June, 2026 and 2025, the Group issued corporate financial guarantees to banks in respect of banking facilities granted to associate s and joint venture s. At the end of both reporting periods, the Group did not recognise any liabilities in respect of such corporate financial guarantees as the Directors of the Company consider that the fair values of these financial guarantee contracts at their initial recognition and at the end of the reporting periods are insignificant. The amounts of loss allowances determined in accordance with HKFRS 9 at the end of the reporting periods are insignificant. 12. Commitments Capital commitments outstanding at 30th June, 20 26 not provided for in the consolidated financial statements were as follows: 2026 2025 HK$ Million HK$ Million Contracted for 61 77 The Group’s share of capital commitments of joint ventures and associates outstanding at 30th June, 2026 not provided for in the consolidated financial statements were as follows: 2026 2025 HK$ Million HK$ Million Contracted for 310 273 Authorised but not contracted for 377 480 687 753
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26 CLOSURE OF REGISTER OF MEMBERS AND RECORD DATES The Annual General Meeting of the Company will be held on Tuesday, 27th October, 2026. The register of members of the Company will be closed from Thursday, 22nd October, 2026 to Tuesday, 27th October, 2026, both dates inclusive, during which period no transfer of shares will be effected. The record date for determining shareholders’ entitle ment to attend and vote at the Annual General Meeting is Tuesday, 27th October, 2026. In order to be eligible to attend and vote at the Annual General Meeting, shareholders must lodge all transfer documents accompanied by the relevant share certificates (the “Share Transfer Documents”) for registration not later than 4:30 p.m. on Wednesday, 21st October, 2026. The proposed final dividend is subject to the approval of the shareholders at the Annual General Meeting. The register of members of the Company will be closed from Monday, 2nd November, 2026 to Tuesday, 3rd November, 2026, both dates inclusive, during which period no transfer of shares will be effected. The record date for determining shareholders’ entitlement to the proposed final dividend is at the close of business on Tuesday, 3rd November, 2026. In order to qualify for the proposed final dividend, shareholders must lodge the Share Transfer Documents for registration not later than 4:30 p.m. on Friday, 30th October, 2026. The Share Transfer Documents shall be lodged for registration with the Company’s Share Registrar, Tricor Investor Services Limited at 17/F, Far East Finance Centre , 16 Harcourt Road, Hong Kong. PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED SECURITIES Neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the listed securities of the Company during the year. COMPLIANCE WITH CORPORATE GOVERNANCE CODE The Company has adopted its own Corporate Governance Code, which is based on the principles and code provisions set out in Part 2 of Appendix C1 (the “CG Code”) to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”). During the Financial Year, the Company complied with all applicable code provisions of the CG Code, except for code provision C.2.1, which requires the roles of chairman and chief executive to be separated and performed by different individuals. The Company has not separated the roles of chairman and chief executive. Both roles are currently performed by the Chairman of the Board. The Board considers that the existing management structure has been effective in facilitating the Company’s operations and business development. In addition, adequate checks and balances consistent with sound corporate governance practices are in place. The Board is responsible for formulating the Group’s overall strategies and policies, while the implementation of such strategies and policies and the day -to-day management of the Group’s businesses are delegated to designated Executive Directors, Deputy Chief Executive Officers and the respective heads of business units. The Board believes that the current arrangement has operated effectively and has enabled it to discharge its responsibilities efficiently and effectively.
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27 Furthermore, the Independent Non -Executive Directors provide independent judgment and constructive advice to management, and contribute valuable views and recommendations to the Board’s deliberations and decision -making process. The Board reviews the effectiveness of the current governance structure from time to time to ensure that it continues to meet the Company's operational needs and remains aligned with prevailing corporate governance practices. REVIEW OF AUDITED FINANCIAL STATEMENTS The audited consolidated financial statements of the Group for the year ended 30th June, 2026 have been reviewed by the Audit Committee of the Company. 2026 ANNUAL REPORT The 2026 annual report containing all the information required by the Listing Rules will be published on the website of Hong Kong Exchanges and Clearing Limited and the Company’s website www.sino.com while printed copies will be sent to shareholders on or about Friday, 2nd October, 2026. By Order of the Board Fanny CHENG Siu King Company Secretary Hong Kong, 1st September, 2026 As at the date hereof, the Executive Directors of the Company are Mr. Daryl Ng Win Kong, Mr. Ringo Chan Wing Kwong, Mr. Gordon Lee Ching Keung, Mr. Victor Tin Sio Un and Ms. Liu Yee Lei, the Non-Executive Directors are The Honourable Ronald Joseph Arculli and Ms. Nikki Ng Mien Hua, and the Independent Non -Executive Directors are Dr. Allan Zema n, Mr. Adrian David Li Man -kiu, Mr. Wong Cho Bau and The Honourable Rock Chen Chung-nin.