Spring Real Estate Investment Trust (HKG:1426)

Hong Kong · Delayed Price · Currency is HKD

1.600

+0.110 (7.38%)

Sep 30, 2026, 3:58 PM HKT

HKG:1426 Financials Overview

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	588.1	621.05	702.47	732.45	577.85	528.45
Revenue Growth	-5.30%	-11.59%	-4.09%	26.75%	9.35%	-0.89%
Net Income	-386.31	-180.24	-46.63	-77.54	28.35	509.95
Earnings Per Share	-0.26	-0.12	-0.03	-0.05	0.02	0.35
EPS Growth	-	-	-	-	-94.52%	-

Revenue by Geography

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Chinese Mainland	588.4	612	660	690	541	489
United Kingdom	-	9	42	42	37	39
Total	588	621	702	732	578	528

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	252.22	291.57	253.82	222.89	202.43	189.46
Total Debt	4,605	4,704	4,798	5,107	4,868	2,972
Net Cash (Debt)	-4,352	-4,412	-4,545	-4,884	-4,666	-2,782
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-2.95	-3.00	-3.13	-3.34	-3.15	-1.89

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	395.7	403.08	402.45	483.82	389.9	347.45
Free Cash Flow	395.7	403.08	402.45	483.82	389.9	347.45
Free Cash Flow Growth	-1.83%	0.15%	-16.82%	24.09%	12.22%	0.53%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Margin	40.66%	28.43%	64.24%	45.66%	78.89%	62.66%
Pretax Margin	-56.93%	-13.10%	3.88%	-1.17%	38.41%	97.72%
Profit Margin	-65.69%	-29.02%	-6.64%	-10.59%	4.91%	96.50%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 1, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.072	0.101	0.156	0.172	0.188	0.179
Dividend Per Share Growth	-50.00%	-35.48%	-9.55%	-8.03%	4.63%	6.42%
Dividend Yield	4.50%	6.79%	9.94%	10.26%	11.91%	12.49%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 1, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	-	-	-	111.19	6.07
PS Ratio	3.49	3.61	3.65	4.07	5.46	5.86