GoAI
Get started
SF Real Estate Investment Trust logo

SF Real Estate Investment Trust

2191.HK

HKSEReal EstateREIT - Industrial

Open in GoAI

Latest quote

HK$2.63

−HK$0.025 · -0.94%

Aug 24, 11:59 AM HKT

2191.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Industry
REIT - Industrial
Sector
Real Estate
Headquarters
HK

Market position

Day range

Current HK$2.63

52-week range

Current HK$2.63

Open
HK$2.66
Previous close
HK$2.655
Volume
249K
Market cap
2.16B HKD
50-day average
HK$2.5844
+1.76% above average
200-day average
HK$2.688
-2.16% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
16.74×
P/B (TTM)
0.67×
P/S (TTM)
5.28×
Dividend yield
10.01%

Profitability & efficiency

Gross margin
79.20%
Operating margin
81.38%
Net margin
31.26%

Financial health

Debt / equity
0.78×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends168%78%-12%-102%Gross margin, FY2021: 119.96%Gross margin, FY2022: 81.52%Gross margin, FY2023: 80.39%Gross margin, FY2024: 76.96%Gross margin, FY2025: 80.19%Operating margin, FY2021: 68.84%Operating margin, FY2022: 145.61%Operating margin, FY2023: 84.96%Operating margin, FY2024: -57.28%Operating margin, FY2025: 73.17%Net margin, FY2021: 68.98%Net margin, FY2022: 104.32%Net margin, FY2023: 49.33%Net margin, FY2024: -66.04%Net margin, FY2025: -79.09%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 119.96%. Gross margin FY2022 81.52%. Gross margin FY2023 80.39%. Gross margin FY2024 76.96%. Gross margin FY2025 80.19%. Operating margin FY2021 68.84%. Operating margin FY2022 145.61%. Operating margin FY2023 84.96%. Operating margin FY2024 -57.28%. Operating margin FY2025 73.17%. Net margin FY2021 68.98%. Net margin FY2022 104.32%. Net margin FY2023 49.33%. Net margin FY2024 -66.04%. Net margin FY2025 -79.09%.

Income trends

Revenue

420.2M HKD-5.78%

Operating income

307.46M HKD+562.93M HKD

Net income

−332.32M HKD-12.83%
Income trends across reported periods708.3M HKD329.89M HKD−48.52M HKD−426.92M HKDRevenue, FY2021: 252.64M HKDRevenue, FY2022: 421.47M HKDRevenue, FY2023: 444.92M HKDRevenue, FY2024: 445.99M HKDRevenue, FY2025: 420.2M HKDOperating income, FY2021: 173.93M HKDOperating income, FY2022: 613.69M HKDOperating income, FY2023: 378.01M HKDOperating income, FY2024: −255.47M HKDOperating income, FY2025: 307.46M HKDNet income, FY2021: 174.27M HKDNet income, FY2022: 439.67M HKDNet income, FY2023: 219.47M HKDNet income, FY2024: −294.53M HKDNet income, FY2025: −332.32M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 252.64M HKD. Revenue FY2022 421.47M HKD. Revenue FY2023 444.92M HKD. Revenue FY2024 445.99M HKD. Revenue FY2025 420.2M HKD. Operating income FY2021 173.93M HKD. Operating income FY2022 613.69M HKD. Operating income FY2023 378.01M HKD. Operating income FY2024 −255.47M HKD. Operating income FY2025 307.46M HKD. Net income FY2021 174.27M HKD. Net income FY2022 439.67M HKD. Net income FY2023 219.47M HKD. Net income FY2024 −294.53M HKD. Net income FY2025 −332.32M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue420.2M HKD445.99M HKD444.92M HKD421.47M HKD252.64M HKD
Cost of goods sold83.26M HKD102.74M HKD87.26M HKD77.91M HKD49.39M HKD
Gross profit336.94M HKD343.25M HKD357.65M HKD343.56M HKD303.08M HKD
Selling, general, and administrative5.85M HKD6.94M HKD37.38M HKD31.97M HKD29.33M HKD
Operating expenses29.48M HKD598.72M HKD−20.35M HKD31.97M HKD29.33M HKD
Interest income2.53M HKD5.27M HKD9.2M HKD3.54M HKD109K HKD
Interest expense85.3M HKD115.38M HKD113.19M HKD72.45M HKD22.28M HKD
Depreciation and amortization2.19M HKD2.11M HKD2.18M HKD1.57M HKD996K HKD
Operating income307.46M HKD−255.47M HKD378.01M HKD613.69M HKD173.93M HKD
Net income−332.32M HKD−294.53M HKD219.47M HKD439.67M HKD174.27M HKD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
0.12

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.260.01-0.24-0.5Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25Q3 '25Q1 '26Q3 '26
Q1 2023, reported Mar 16, 2023: actual 0.21, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 17, 2023: actual 0.185, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 14, 2024: actual 0.089, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 15, 2024: actual 0.015, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 13, 2025: actual -0.38, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 14, 2025: actual -0.443, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 12, 2026: actual 0.037, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 13, 2026: actual 0.119, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates476.87M375.99M275.11M174.24MQ1 '23MissQ3 '23MissQ1 '24MissQ3 '24MissQ1 '25No estimateQ3 '25No estimateQ1 '26No estimateQ3 '26Miss
Q1 2023, reported Mar 16, 2023: actual 225.79M HKD, estimate 456M HKD, surprise -50.49%, Miss. Q3 2023, reported Aug 17, 2023: actual 223.62M HKD, estimate 453M HKD, surprise -50.64%, Miss. Q1 2024, reported Mar 14, 2024: actual 223.98M HKD, estimate 453M HKD, surprise -50.56%, Miss. Q3 2024, reported Aug 15, 2024: actual 221.84M HKD, estimate 453M HKD, surprise -51.03%, Miss. Q1 2025, reported Mar 13, 2025: actual 224.15M HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 14, 2025: actual 224.59M HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 12, 2026: actual 195.11M HKD, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 13, 2026: actual 212.71M HKD, estimate 213.25M HKD, surprise -0.25%, Miss.

2191.HK peers

Sun Hung Kai Properties Limited logo

0016.HK

Sun Hung Kai Properties Limited

HK$126.5

-1.33%

China Resources Land Limited logo

1109.HK

China Resources Land Limited

HK$33.92

-4.13%

CK Asset Holdings Limited logo

1113.HK

CK Asset Holdings Limited

HK$47.08

-0.51%

China Overseas Land & Investment Ltd. logo

0688.HK

China Overseas Land & Investment Ltd.

HK$13.76

-2.41%

KE Holdings Inc. logo

2423.HK

KE Holdings Inc.

HK$47.14

+3.88%

Swire Properties Limited logo

1972.HK

Swire Properties Limited

HK$25.34

-0.24%

ETFs holding 2191.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Global ex-U.S. Real Estate ETF logoVanguard Global ex-U.S. Real Estate ETFVNQI
Market value
628.67K
Weight
0.02%
AUM
3.9B USD
Expense ratio
0.12%
Price / 1D
$45.71—
Dimensional - Global Real Estate ETF logoDimensional - Global Real Estate ETFDFGR
Market value
266.42K
Weight
0.01%
AUM
3.85B USD
Expense ratio
0.22%
Price / 1D
$29.46—
State Street SPDR S&P Emerging Markets Small Cap ETF logoState Street SPDR S&P Emerging Markets Small Cap ETFEWX
Market value
178.4K
Weight
0.03%
AUM
685.65M USD
Expense ratio
0.65%
Price / 1D
$72.22—

Continue in GoAI

Research 2191.HK

research.disclaimer