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Bond Market News
Shui On Land First-Half Net Income Falls 29%
August 29, 2025
Shui On Land on Thursday said in a filing with the Hong Kong stock exchange, that its H1 net income fell 29% YoY, as the mainland real estate market remained challenged. Revenues stood at RMB 2.07bn ($290mn) during the period. In a briefing on Thursday, Shui On chairman Vincent Lo Hong-sui indicated that it would take some time for the property market to bottom out as the mainland’s macroeconomic outlook remained uncertain. Despite the overall market depression, the company noted that Shanghai’s luxury segment showed resilience. The broader lived-in home market has seen prices falling for over two years, with a 5.9% YoY drop in July.
Shui On’s dollar bonds were trading stable with its 5.5% 2026s at 98.60 yielding 7.26%.
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