Declares its first interim dividend
HONG KONG SAR – Media OutReach Newswire – 2 September 2026 – Starjoy (3662) announced its interim results for the first half of 2026. The Company's net profit was RMB23.1 million, representing a year-on-year increase of approximately 10%. Core net profit amounted to RMB43.7 million. Basic earnings per share was RMB2.87 cents. The Company declared its first interim dividend, implying an annualized dividend yield of approximately 4.8%. It will continue to strive to enhance corporate value, foster sustainable development, and deliver long‑term returns and value to shareholders.
In recent years, the macro‑economic environment and real estate sector have remained uncertain, and market pressures persist. However, the Company has proactively adjusted its strategy, taking "long-term sustainability" as the core of its development and actively withdrawn from projects with risks, persistently low collection rates, and sustained cash flow losses, while actively improving service quality, focusing on management, rigorously controlling costs, and optimising supplier payment terms. As a result, the Company is well‑positioned to navigate market volatility, with greater focus on managing competitive projects so as to stabilise and mitigate adverse financial impacts. The Company anticipates that these strategic adjustments will yield results, financial impacts will stabilise and the strategy will deliver tangible outcomes going forward.
Looking ahead, the Company will continue to implement its prudent strategy and proactively respond to the challenges of the external economic environment and markets through resilient operational management. In terms of development strategies, the Company will break conventional mindsets, strive to optimise and adjust its management portfolio, and actively pursue new business areas. These include overseas property management projects, real estate and property management-related industries, as well as proactive transformation into new areas such as smart communities and artificial intelligence (AI).
It will also actively advance technology implementation and focus on applied research for smart communities and AI, to foster the digital transformation of traditional property management. Meanwhile, aligned with national strategics and seizing the opportunities of the times, the Company will conduct in‑depth research across sectors including intelligence-driven development, China's silver economy, the elderly-care industry and community-based elderly care renovation. This will help build new competitive strengths and growth inflection points, while the Company remains committed to enhancing long‑term value for shareholders and the enterprise.
Moreover, the Company has declared its first interim dividend, demonstrating management's resolve to proactively reward shareholders. The Company looks forward to sharing the business progress and returns with all shareholders and investors, as it continues to optimise its business portfolio and pursue transformational development.
Hashtag: #Starjoy
The issuer is solely responsible for the content of this announcement.
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- 90% of investors targeting Hong Kong are actively pursuing repositioning or change-of-use strategies
- Student accommodation and conversion-led strategies continue to drive Living sector investment activity in Hong Kong
- 85% of investors across APAC expect to increase Living investment over the next five years
HONG KONG SAR - Media OutReach Newswire - 2 September 2026 - Hong Kong ranked fifth among Asia Pacific's (APAC) preferred Living investment destinations in Cushman & Wakefield's inaugural APAC Living Investor Survey 2026, with investors increasingly pursuing student accommodation, repositioning and conversion opportunities to gain exposure to the sector's long-term growth prospects.
Among respondents who ranked Hong Kong among their preferred investment destinations, 90% are actively considering repositioning or change-of-use opportunities, highlighting the growing importance of conversion-led strategies in addressing the city's Living sector supply constraints.
Rosanna Tang, Deputy Managing Director & Head of Research, Hong Kong at Cushman & Wakefield, said: "In Hong Kong, recent market transactions show that investors are approaching the Living sector through a value-add lens, particularly through conversion opportunities and student accommodation assets. Since 2021, the market has recorded US$1.63 billion (HK$12.8 billion) of student housing conversion related transactions across 24 deals, including US$739.9 million (HK$5.8 billion) from 10 deals in the first seven months of 2026, involving a broad spectrum of investors. This strong momentum reflects renewed interest from institutional capital, including the return of real estate funds, as investors seek exposure to resilient, education-linked residential assets underpinned by the city's persistent accommodation shortage and growing student population."
Investor Conviction Remains Strong Across APAC
Beyond Hong Kong, investor conviction across the APAC Living sector remains strong, with 85% of investors planning to increase Living investment over the next five years and respondents collectively indicating an estimated US$33.2 billion (HK$260.28 billion) of Living-sector deployment over the same period.
The survey found that Living is becoming an increasingly important real estate allocation across the region, supported by resilient demand fundamentals and investor preference for stabilised, income-producing assets. Notably, a third of respondents with diversified real estate portfolios expect Living to account for more than 30% of their real estate portfolio within five years, underscoring the sector's growing importance in institutional investment strategies.
Conal Newland, International Director, Head of Living, APAC at Cushman & Wakefield, said: "Our inaugural APAC Living Investor Survey reinforces the growing institutionalisation of the sector across the region. Despite heightened economic and geopolitical uncertainty, investors continue to view Living as a long-term strategic allocation supported by resilient demand fundamentals, defensive income characteristics and strong structural growth drivers. The fact that 85% of respondents intend to increase Living investment over the next five years highlights how Living is evolving from an alternative investment strategy into a core institutional real estate allocation."
Australia and Japan Lead Investor Preferences
Australia/New Zealand and Japan emerged as the region's most preferred Living investment destinations, ranking clearly ahead of other APAC markets. Japan's position reflects its scale, liquidity and status as APAC's most mature institutional multifamily market, while Australia's housing undersupply and strong rental fundamentals continue to underpin long-term growth potential. Singapore, South Korea and Hong Kong form the next tier of preferred markets, although deployment continues to be constrained by scale, regulation and pricing.
Demand for Stabilised Assets Outpaces Supply
The survey also found that investors are increasingly favouring stabilised, income-producing and defensive Living assets. Recent market volatility has prompted 50% of respondents to report a greater preference for stabilised assets, yet the availability of standing institutional-grade stock remains limited across much of APAC.
This supply-demand imbalance is increasingly pushing investors towards alternative routes to market. Nearly three-quarters (73%) of respondents are actively considering repositioning or change-of-use strategies, while joint ventures emerged as the most likely deal structure over the next one to three years. Office and hotel conversions are also becoming an increasingly important source of Living supply in markets such as Singapore and Hong Kong.
Josh Rose-Nokes, Director, Living Research, APAC at Cushman & Wakefield, said: "What stands out is not a shortage of capital, but a shortage of investable stock. Investors increasingly want stabilised, income-producing Living assets, yet much of APAC lacks sufficient institutional-grade product to satisfy that demand. This mismatch is driving greater competition for stabilised assets and accelerating interest in repositioning, conversions and partnership-led deployment strategies."
The gap between buyer and seller expectations was identified as the leading investment challenge by 44% of respondents, followed by development viability at 29%. Limited transaction evidence and inconsistent market transparency were also highlighted as barriers to pricing assets accurately and deploying capital efficiently.
About the Survey
The inaugural APAC Living Investor Survey 2026 draws on insights from institutional investors, fund managers, listed property groups and specialist Living-sector participants across APAC, representing approximately 224,000 units or beds. For the purposes of this survey, diversified respondents refer to investors with exposure across multiple real estate sectors and exclude Living-only specialists. The survey was fielded in Q2 2026 during the Middle East hostilities and provides insights into investor sentiment, capital allocation trends and investment priorities across the APAC Living sector. Estimated five-year capital deployment figures were derived from banded responses using midpoints.
For more information and to download the report, please click here.
About Cushman & Wakefield's Living Platform
Cushman & Wakefield's Living platform provides integrated advisory services to investors, developers, and operators across the residential investment spectrum, including multifamily, build-to-rent, purpose-built student accommodation, co-living, and senior living. The team delivers integrated advisory across capital markets, valuation, development consultancy, and asset strategy, supported by proprietary research and a region-wide Asia Pacific network, as well as dedicated research and consultancy professionals who provide strategic insights and execution capabilities across the region. Click here for additional information.
Hashtag: #Cushman&Wakefield
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (www.linkedin.com/company/cushman-&-wakefield-greater-china).
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