Wharf REIC plans Singapore mall sales. CICC targeted Wharf REIC stock at HKD 36

Published on 10/25/2026 at 02:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

For Wharf REIC stock, first-half revenue was HKD 6.34 billion. The group posted a HKD 176 million loss and moved to sell Singapore malls.

Assets and earnings define valuation

Singapore mall sales formed the central event on October 12, 2026.
First-half 2026 earnings included a HKD 176 million loss.
CICC set a HKD 36.00 target on September 28, 2026.

Wharf REIC, KYG9593A1040, Illustration mit AI erstellt.

Wharf REIC (ISIN KYG9593A1040) reported HKD 6.34 billion in first-half 2026 revenue and a HKD 176 million loss, according to The Globe and Mail. The company also moved to sell Singapore malls, including Wheelock Place and Scotts Square, in an event discussed by Simply Wall St on October 12, 2026.

Singapore assets change the story

The disposal plan adds a capital-allocation question to Wharf REIC's Hong Kong property portfolio. Simply Wall St said first-half 2026 revenue was slightly lower, while the net margin improved from a loss of 37.6 percent to a loss of 2.8 percent. The figures point to a business that is still absorbing valuation and operating pressure even as profitability improves.

What does the loss mean for valuation?

The HKD 176 million loss came with interim earnings per share of negative HKD 0.06 and net asset value per share of HKD 59.235, according to ET Net. The same interim statement showed a HKD 0.94 dividend per share. For investors, the key comparison is between recurring rental income and the value released through asset sales.

Three dates frame the case

On June 30, 2026, the interim period closed with HKD 6.34 billion in turnover and a HKD 176 million attributable loss, as reported by The Globe and Mail. On September 28, 2026, Moomoo reported that CICC initiated coverage with an Outperform rating and a HKD 36.00 target. On October 12, 2026, Simply Wall St highlighted the planned Singapore mall sales and the margin change.

Analyst target meets operating risk

CICC's HKD 36.00 target was paired with a projected 5.2 percent 2026 dividend yield and a 15.9 percent net debt-to-equity ratio for the first half of 2026, according to Moomoo. The same report identified weaker-than-expected Hong Kong activity, higher HIBOR rates and tougher Harbour City competition as risks. The next dated reference in the evidence is the first-half 2026 interim report period ending June 30, 2026.

HKEX quote and valuation context

The last quoted HKEX price was HKD 30.32 on October 23, 2026 at 4:08 p.m. HKT. Wharf REIC had a market capitalization of HKD 92.1 billion and a 52-week range of HKD 20.26 to HKD 34.82 on that date. The valuation debate therefore sits between a HKD 36.00 analyst target, a HKD 59.235 interim net asset value per share and the group's asset-recycling plan. The further course of trading is shown by the continuously updated real-time quote of Wharf REIC stock.