- CapitaLand China Trust’s 1H25 results missed our expectations – Gross revenue and net property income fell 6.3% and 8.1% y-o-y to CNY867.6m and CNY580.3m, respectively. Lower contributions from the retail assets and business parks outweighed stronger performance from the logistics parks.
- - Read this at SGinvestors.io -
- CapitaLand China Trust's distribution will be paid out on 24 Sep 2025.
Reversions expected to stay negative for longer as occupancy stabilises.
- - Read this at SGinvestors.io -
- Meanwhile, Business Park revenue fell 12% y-o-y to CNY214.2m3. Although rental reversions came in at -8%, occupancy improved 3.2 ppt q-o-q to 86.9%.
- Finally, Logistics Park revenue nudged up 2% y-o-y to CNY24.1m. Portfolio occupancy improved 0.9 ppt q-o-q to 96.6%, but reversions came in at -24.7% as the REIT offered more competitive pricing to secure the early renewal of the anchor tenant at Wuhan Yangluo Logistics Park.
Stable credit metrics.
- Read more at SGinvestors.io.
