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HANG LUNG PROPERTIES LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00101)

2016 ANNUAL RESULTS CONTENTS Page Financial Highlights 1 Review of Operations 2 Consolidated Financial Statements 17 Notes to the Consolidated Financial Statements 20 Other Information 30 Glossary 32 FINANCIAL HIGHLIGHTS

in HK$ Million (unless otherwise stated)

RESULTS

Revenue

2016

2015

Change

13,059

8,948

46%

Property Leasing

7,737

7,751

-

Property Sales

5,322

1,197

345%

Operating Profit

8,919

6,548

36%

Property Leasing

5,710

5,704

-

Property Sales

3,209

844

280%

Net Profit Attributable to Shareholders

6,195

5,092

22%

Earnings Per Share (HK$)

$1.38

$1.13

22%

Dividends Per Share (HK$)

$0.75

$0.75

-

Interim (Paid)

$0.17

$0.17

-

Final (Proposed)

$0.58

$0.58

-

UNDERLYING RESULTS

Underlying Net Profit Attributable to Shareholders Underlying Earnings Per Share (HK$)

2016

6,341

$1.41

2015 Change

4,387 45%

$0.98 44%

FINANCIAL POSITION At December 31 2016 126,565 132,145 2,757 2.1% 20.5% $28.1 $29.4

2015 Change

Shareholders' Equity Net Assets Net Debt

128,989 -2%

134,892 -2%

1,482 86%

Financial Ratio

Net Debt to Equity Ratio Debt to Equity Ratio

1.1% 1.0pt

24.3% -3.8pts

Shareholders' Equity Per Share (HK$) Net Assets Per Share (HK$)

$28.7 -2%

$30.0 -2%

REVIEW OF OPERATIONS CONSOLIDATED RESULTS

For the financial year ended December 31, 2016, total revenue of Hang Lung Properties Limited and its subsidiaries (collectively known as "Hang Lung Properties") increased 46% to HK$13,059 million attributable to higher property sales. Property sales revenue surged 345% to HK$5,322 million as more residential units were sold during 2016. Revenue of property leasing was flat at HK$7,737 million, or up 3% if excluding the 6% year-on-year Renminbi (RMB) depreciation against the Hong Kong Dollar (HKD). Total operating profit advanced 36% to HK$8,919 million.

Underlying net profit attributable to shareholders increased 45% to HK$6,341 million. After including a revaluation loss on investment properties, net profit attributable to shareholders increased 22% to HK$6,195 million. Earnings per share increased similarly to HK$1.38.

Revenue and Operating Profit

Revenue Operating Profit

2016 2015 Change 2016 2015 Change

HK$ Million

7,737

HK$ Million

7,751

-

HK$ Million

5,710

HK$ Million

5,704

-

3,995

4,194

-5%

2,514

2,715

-7%

3,742

3,557

5%

3,196

2,989

7%

Property Sales

5,322 1,197 345%

3,209 844 280%

Total

13,059 8,948 46%

8,919 6,548 36%

Property Leasing Mainland China Hong Kong DIVIDEND

The Board of Directors has recommended a final dividend of HK58 cents per share for 2016 (2015: HK58 cents) to be paid by cash on May 18, 2017, to shareholders whose names appeared on the register of members on May 5, 2017. Together with an interim dividend of HK17 cents per share (2015: HK17 cents), the full year dividends for 2016 amounted to HK75 cents per share (2015: HK75 cents).

Hang Lung Group Ltd. published this content on 26 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 January 2017 04:27:09 UTC.