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Hong Kong REIT owning Three Garden Road office tower and Langham Place office/mall complex in Mong Kok.
Hong Kong REIT owning Three Garden Road office tower and Langham Place office/mall complex in Mong Kok.
Great Eagle Holdings, the Lo family company that also owns the Langham hotels, sponsors it, and its manager is a Great Eagle affiliate paid fees. As a Hong Kong REIT, it must pay out most of its income as distributions, so unit-holder payouts track rents.
In one line: A HK office/retail REIT.
Moat: narrow (installed base). Concentrated prime-location HK office/mall assets that are difficult to replicate.
Headquarters: Hong Kong · Founded: 2006
Size Champion Real Estate Investment Trust (2778.HK) is a Hong Kong Real Estate company (Real Estate Investment Trusts) with a market value of $1.80B, the 442nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.28 on 6 Nov 2026.
Performance Over six months the shares fell 7.7%, against -11.9% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 8.5% over the last twelve months (peer median +5.1%); the operating margin is 61.4% (peer median 44.8%).
Valuation It trades at 0.35× book value against a peer median of 0.91× (cheapest of 21).
Price implies The share price implies a return on equity of about 4.6%; Champion Real Estate Investment Trust delivers -2.6%, so the price asks more than the business earns today.
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.20B | HK$2.28B | HK$2.51B | HK$2.63B | HK$2.65B |
| Revenue growth | — | -9% | -5% | -1% | — |
| Gross profit | HK$1.35B | HK$1.43B | HK$1.63B | HK$1.74B | HK$1.79B |
| EBITDA | HK$1.35B | HK$1.43B | HK$1.63B | HK$1.74B | HK$1.72B |
| Net income | -HK$1.07B | -HK$3.27B | -HK$2.09B | HK$221M | -HK$749M |
| Free cash flow | HK$762M | HK$737M | HK$920M | HK$1.21B | HK$1.29B |
| Capital expenditure | HK$0 | HK$0 | HK$0 | HK$0 | HK$0 |
| Total debt | n/a | HK$14.4B | HK$14.4B | HK$14.5B | HK$14.5B |
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.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Champion Real Estate Investment Trust 2778.HK | $1.80B | -8% | -8% | -3% | 0.35× | 4.6% |
| Fortune Real Estate Investment Trust 0778.HK | $1.19B | -11% | -9% | 0% | 0.37× | 4.5% |
| Link REIT 0823.HK | $13.8B | +3% | -3% | -5% | 0.71× | 5.9% |
| Hongkong Land H78.SI | $17.7B | -1% | -25% | 8% | 0.57× | 3.4% |
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 | 2778.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.0% | +1.7% | 4th highest of 21 |
| 6-month return | -7.7% | -11.9% | 8th highest of 20 |
| Return on equity | -2.6% | 5.9% | 4th lowest of 20 |
| Price / book | 0.35× | 0.91× | cheapest of 21 |
| ROE the price implies | 4.6% | 8.4% | least demanding of 21 |
| ROE delivered | -2.6% | 5.9% | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Champion Real Estate Investment Trust 2778.HK | Hong Kong | $1.80B | -8% | -8% | -3% | 0.35× | 4.6% | -2.6% |
| H&R Real Estate Investment Trust HR-UN.TO | Canada | $1.80B | -10% | -6% | -13% | 0.60× | 6.3% | -12.8% |
| Charter Hall Long WALE REIT CLW.AX | Australia | $1.78B | +4% | +40% | 8% | 0.76× | 9.2% | 8.3% |
| Sekisui House Reit 3309.T | Japan | $1.78B | -23% | +5% | 7% | 0.97× | 5.3% | 7.4% |
| Mitsui Fudosan Accommodations Fund 3226.T | Japan | $1.75B | -16% | +18% | 9% | 1.79× | 6.3% | 8.6% |
| Daiwa Office Investment 8976.T | Japan | $1.74B | -12% | +24% | 6% | 1.13× | 4.7% | 6.3% |
| Blackstone Mortgage Trust BXMT | United States | $1.85B | -42% | -2% | -12% | 0.65× | 7.3% | -11.7% |
| ARMOUR Residential REIT ARR | United States | $1.87B | -29% | -140% | -2% | 0.80× | 10.2% | -2.3% |
| Eurocommercial Properties ECMPA.AS | Netherlands | $1.72B | -7% | +1% | 9% | 0.64× | 5.0% | 8.5% |
| HomeCo Daily Needs REIT HDN.AX | Australia | $1.71B | -2% | +4% | 11% | 0.76× | 8.5% | 11.4% |
| Region RGN.AX | Australia | $1.89B | +6% | +30% | 9% | 0.92× | 9.4% | 9.2% |
| Douglas Emmett DEI | United States | $1.70B | -18% | +2% | -1% | 0.89× | 10.1% | -1.2% |
| Diversified Healthcare Trust DHC | United States | $1.70B | -17% | -4% | -9% | 1.11× | 18.0% | -9.5% |
| Great Portland Estates GPE.L | United Kingdom | $1.90B | +17% | +24% | 7% | 0.66× | 9.9% | 7.5% |
| Activia Properties 3279.T | Japan | $1.90B | -10% | +24% | 6% | 1.12× | 5.6% | 5.9% |
| Getty Realty GTY | United States | $1.92B | -14% | +11% | 9% | 1.50× | 11.2% | 8.9% |
| RLJ Lodging Trust RLJ | United States | $1.92B | +40% | +1% | 1% | 1.07× | 11.2% | 1.3% |
| Safestore SAFE.L | United Kingdom | $1.67B | -13% | +7% | 3% | 0.55× | 8.4% | 2.9% |
| Xenia Hotels & Resorts XHR | United States | $1.97B | +26% | +4% | 0% | 1.80× | 17.3% | 0.3% |
| Mitsui Fudosan Logistics Park 3471.T | Japan | $2.00B | -13% | +156% | 5% | 0.99× | 5.0% | 4.6% |
| Blackstone Digital Infrastructure Trust BXDC | United States | $1.61B | n/a | n/a | n/a | 0.83× | 7.3% | n/a |