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WHARF REIC
01997.HK
Wharf Real Estate Investment Company Limited, an investment holding company, develops, owns, and operates properties and hotels in Hong Kong, Mainland China, and Singapore. It operates through Investment Properties, Development Properties, Hotel, and Investment segments. The company’s flagship properties include Harbour City, a commercial space comprising offices, retail shops, serviced apartments, hotels and clubs, and car parking spaces; and Times Square, a retail space that consists of office and car parking spaces. It also owns and operates the Wheelock House and Crawford House commercial properties; The Murray hotel; Plaza Hollywood, a shopping mall with shops, restaurants, and a cinema multiplex; The Star Ferry, which operates two inner harbor ferry services; and Wheelock Place and Scotts Square malls.
576.84 B
01997.HKMarket value -Rank by Market Cap -/-

Financial Score

05/12/2025 Update
D
Real Estate Operating CompaniesIndustry
Industry Ranking69/99
Industry medianC
Industry averageC
Score Analysis
Peer Comparison
  • Criteria
    Rating
  • Profit ScoreC
    • ROE-0.25%D
    • Profit Margin-3.61%D
    • Gross Margin78.90%A
  • Growth ScoreD
    • Revenue YoY-3.87%D
    • Net Profit YoY-124.25%E
    • Total Assets YoY-1.98%D
    • Net Assets YoY-1.09%D
  • Cash ScoreE
    • Cash Flow Margin-2768.47%E
    • OCF YoY-3.87%D
  • Operating ScoreE
    • Turnover0.05E
  • Debt ScoreA
    • Gearing Ratio19.10%A

Valuation analysis

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Institutional View & Shareholder

Analyst Ratings

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    News
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    Morning Trend | WHARF REIC accumulates at low levels, is the real estate sector's recovery trend about to ferment?

    WHARF REIC (1997.HK) saw significant capital inflow in the early session yesterday, driven by positive real estate news, with its stock price approaching the upper limit of the recent trading range. On the news front, policy signals regarding real estate financing and tax reductions have been released, sparking market speculation about a rotation in the real estate sector. Recently, transactions in the Hong Kong property market have warmed up, and property companies are rarely experiencing expectations of structural recovery, with some funds entering early to speculate on policy dividends

    Technical Forecast·
    HK
    01997
    +0.16%
    Technical Forecast·
    HK
    01997
    +0.16%

    JP Morgan expects Hong Kong's retail growth in November to drop to low single digits and maintains a "neutral" stance on LINK REIT

    JP Morgan expects Hong Kong's retail sales growth in November to slow to low to mid-single digits, as the growth of electronic products may fade, but the accelerated growth of visitors to Hong Kong and the low base effect will offset this. It holds a constructive view on WHARF REIC, as non-essential retail appears to have bottomed; it maintains a neutral stance on LINK REIT, as tenant sales are below expectations, affected by cross-border e-commerce

    AASTOCKS·
    HK
    01997
    +0.16%
    HK
    00823
    -0.79%
    AASTOCKS·
    HK
    01997
    +0.16%
    HK
    00823
    -0.79%

    DBS: Upgrades WHARF REIC rating to "Buy" with target price raised to HKD 29

    DBS released a research report stating that WHARF REIC is heavily reliant on the recovery of the retail market. The outlook for rental income and return growth is improving, which is expected to help drive the growth of WHARF REIC's rental yields. Additionally, since most of the company's debt is at a floating rate, a potential decline in HIBOR may reduce its interest costs. The bank pointed out that a sustainable recovery in the retail market could lead to a higher stock valuation for WHARF REIC, and a more accommodative interest rate environment is also expected to promote the company's earnings growth and stock price increase. The bank upgraded the company's rating from "Hold" to "Buy," and raised the target price from HKD 27.7 to HKD 29

    Zhitong·
    HK
    01997
    +0.16%
    Zhitong·
    HK
    01997
    +0.16%

    Understanding the Market | Hong Kong property stocks expanded gains in the closing hours, Wharf Real Estate Investment Company rose over 4%, Alibaba's acquisition set a record for transaction amount of commercial buildings in Hong Kong this year

    Hong Kong property stocks expanded their gains in the afternoon, with Wharf Real Estate rising 4.36%, HYSAN DEV increasing 3.01%, Swire Properties up 2.14%, and New World Development gaining 1.36%. Alibaba and Ant Group acquired the 13th floor office building of One Island East in Causeway Bay for HKD 6.6 billion, setting a record for transaction amounts of commercial buildings in Hong Kong this year. JP Morgan believes this transaction will stabilize the capitalization rate of Hong Kong office buildings, reduce commercial real estate risks, and attract more mainland enterprises to invest in Hong Kong office buildings

    Zhitong·
    HK
    00014
    +0.62%
    HK
    00017
    +4.87%
    HK
    01972
    -0.85%
    Zhitong·
    HK
    00014
    +0.62%
    HK
    00017
    +4.87%
    HK
    01972
    -0.85%

    UBS: Raises the target price for WHARF REIC to HKD 23, expects long-term headwinds to persist, maintains a "Neutral" rating

    UBS released a research report stating that as Hong Kong's retail sales have recently stabilized, WHARF REIC's stock price has risen 13% this year. UBS believes that driven by the decline in HIBOR, the market has absorbed the recent stability in retail sales and the rebound in profits (expected to reach 2% to 9% in 2025 to 2026). However, long-term resistance remains, mainly from the rebound in outbound tourism by Hong Kong residents; more convenient tax refund arrangements in the mainland; and intensified competition among high-end shopping malls. Therefore, it maintains a "Neutral" rating on the stock and raises the target price to HKD 23. UBS stated that although retail sales have rebounded, it expects this trend to be temporary, as local discretionary spending will face pressure after the National Day Golden Week. In the long term, UBS believes that expanding the pilot tax refund scheme to land border control points (including Hong Kong residents) and intensified competition from mainland e-commerce platforms will bring structural resistance. Based on HIBOR assumptions, UBS has raised its earnings per share estimates for WHARF REIC for 2025 to 2027 by 4% to 8%; it believes that strong growth in Hong Kong retail sales is unlikely in the next two years, maintaining a cautious stance and predicting that retail sales will remain nearly flat in the next two years

    Zhitong·
    HK
    01997
    +0.16%
    Zhitong·
    HK
    01997
    +0.16%
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