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Size Sunlight Real Estate Investment Trust (0435.HK) is a Hong Kong Real Estate company (Real Estate Investment Trusts) with a market value of $481M, the 758th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.13 on 6 Nov 2026.
Performance Over six months the shares fell 10.3%, against -15.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue fell 5.2% over the last twelve months (peer median +6.5%); the operating margin is 64.5% (peer median 46.5%).
Valuation It trades at 0.31× book value against a peer median of 0.75× (2nd cheapest of 21).
Price implies The share price implies a return on equity of about 4.3%; Sunlight Real Estate Investment Trust delivers -1.8%, so the price asks more than the business earns today.
Next results Next results expected around 7 Sep 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$781M | HK$792M | HK$846M | HK$809M | HK$811M |
| Revenue growth | — | -6% | +5% | 0% | — |
| Gross profit | HK$603M | HK$615M | HK$660M | HK$650M | HK$650M |
| EBITDA | HK$504M | HK$514M | HK$557M | HK$544M | HK$544M |
| Net income | -HK$227M | -HK$275M | -HK$115M | -HK$28.4M | HK$103M |
| Free cash flow | HK$300M | HK$318M | HK$443M | HK$404M | HK$409M |
| Capital expenditure | HK$6,000 | HK$6,000 | HK$84,000 | HK$51,000 | HK$13,000 |
| Total debt | n/a | HK$4.81B | HK$4.82B | HK$4.87B | HK$4.29B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0435.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.4% | -3.6% | 5th highest of 21 |
| 6-month return | -10.3% | -15.3% | 10th highest of 21 |
| Return on equity | -1.8% | 5.4% | 2nd lowest of 21 |
| Price / book | 0.31× | 0.75× | 2nd cheapest of 21 |
| ROE the price implies | 4.3% | 5.5% | 5th least demanding of 21 |
| ROE delivered | -1.8% | 5.4% | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Sunlight Real Estate Investment Trust 0435.HK | Hong Kong | $481M | -10% | -5% | -2% | 0.31× | 4.3% | -1.8% |
| Testa Residencial Socimi YTST.MC | Spain | $482M | +13% | -2% | 10% | 0.42× | 4.1% | 9.5% |
| China Southern SF Express Closed Infrastructure REIT 180305.SZ | China | $490M | -12% | n/a | 1% | 1.01× | 5.1% | 1.2% |
| Hudson Pacific Properties HPP | United States | $471M | -22% | +3% | -18% | 0.19× | 5.3% | -17.8% |
| NewRiver REIT NRR.L | United Kingdom | $470M | +6% | +45% | 7% | 0.75× | 8.8% | 6.7% |
| Franklin BSP Realty Trust FBRT | United States | $469M | -32% | -1% | 1% | 0.43× | 6.3% | 1.1% |
| Gladstone Commercial GOOD | United States | $497M | -21% | +11% | 5% | 3.36× | 27.5% | 5.4% |
| Shinhan Alpha REIT 293940.KS | South Korea | $497M | -8% | +45% | 3% | 1.09× | 5.7% | 3.1% |
| Automotive Properties Real Estate Investment Trust APR-UN.TO | Canada | $499M | +11% | +18% | 9% | 0.96× | 5.1% | 9.1% |
| MIRARTH Real Estate Investment 3492.T | Japan | $461M | -18% | +35% | 5% | 0.73× | 3.7% | 5.5% |
| One Liberty Properties OLP | United States | $461M | -10% | +11% | 8% | 1.47× | 12.5% | n/a |
| CRE Logistics REIT 3487.T | Japan | $460M | -23% | +23% | 5% | 0.89× | 4.2% | 5.4% |
| TPG RE Finance Trust TRTX | United States | $512M | -21% | +6% | 4% | 0.50× | 7.7% | 4.1% |
| ESR Kendall Square REIT 365550.KS | South Korea | $513M | -37% | +11% | 1% | 0.63× | 4.6% | 0.6% |
| Adamas Trust ADAM | United States | $514M | -36% | +35% | 0% | 0.70× | 9.0% | -0.1% |
| Living REIT LIVE.L | United Kingdom | $443M | 0% | +5% | 4% | 0.75× | 6.8% | 4.2% |
| Dexus Industria REIT DXI.AX | Australia | $525M | +3% | -12% | 7% | 0.71× | 9.3% | 6.9% |
| One REIT 3290.T | Japan | $435M | -10% | 0% | 6% | 0.91× | 4.4% | 6.4% |
| Rural Funds RFF.AX | Australia | $532M | -1% | +7% | 11% | 0.68× | 8.4% | 10.6% |
| Hankyu Hanshin REIT 8977.T | Japan | $533M | -19% | -38% | 5% | 0.97× | 4.3% | 5.3% |
| MIRAI 3476.T | Japan | $431M | -23% | -22% | 6% | 0.77× | 3.8% | 5.8% |