Shun Tak swings to underlying profit despite revenue plunge
Shun Tak Holdings Ltd. narrowed its 2025 net loss even as revenue plunged nearly 47%, with underlying operations swinging to a profit after excluding property valuation hits. The Hong Kong-listed company, known for its transport and property interests, released full-year results Monday for the period ended Dec. 31, 2025.
Overall revenue dropped to HKD2.4 billion from HKD4.5 billion the prior year. Meanwhile, the loss attributable to owners improved 42% to HKD478 million from HKD824 million, easing basic and diluted loss per share to 15.8 HK cents from 27.3 HK cents.
Stripping out unrealized fair value changes on investment properties for the group and its joint ventures and associates, net of tax, revealed a profit attributable to owners of HKD182 million, compared with a HKD244 million loss in the prior year. No dividends were declared for the final, special, or interim periods in 2025, matching 2024.
In hospitality and leisure, Shun Tak narrowed its loss 52% to HKD87 million from HKD180 million, aided by global travel recovery and cost controls at Artyzen Hospitality Group (AHG). Strong visitor arrivals boosted occupancy in core markets, even as shorter stays and food-and-beverage competition posed challenges, Shun Tak noted.
As of Dec. 31, 2025, the company held stakes in 10 hotels across mainland China, Hong Kong, Macau, and Singapore, with AHG managing 14 hotels and serviced residences. In Macau, Mandarin Oriental Macau reached 79% occupancy, up from 71%, while Grand Coloane Resort hit 73%, up from 67%, through “agency partnerships”.
Transportation saw a setback, as Hong Kong-Macau ferry operations posted a HKD12 million shared loss, up from HKD8 million, including derecognition of a deferred tax asset.
Looking ahead, Shun Tak reported steady progress on its joint project with AJ Hackett International to develop an Adventure Zone at Ocean Park Hong Kong. Construction is scheduled to start in 2026, with completion planned for 2028.
The company also plans to open a 296-room Artyzen hotel in Xi’an in 2029.
