Asiasec Properties Limited ("ASL"), formerly known as Dan Form Holdings Company Limited ("Dan Form"), was incorporated in 1973, and was listed in the Stock Exchange of Hong Kong in the same year. In the year of 2016, the company and its subsidiaries (the "Group") was acquired by Autobest Holdings Limited, a wholly-owned subsidiary of Tian An China Investments Company Limited (Stock Code : 28), which becomes the largest shareholder of the Group. Mr. Patrick Lee Seng Wei is the Chairman of the Group. In the year of 2017, Dan Form changed its name to ASL.The Group’s core businesses comprise property investment, property leasing and estate management in Hong Kong.

Business Outlook  

The retail property leasing market in Hong Kong remains challenging in 2026, with continued pressure on rental rates and occupancy levels. While some stabilization has emerged in select prime locations, the broader market continues to face headwinds from cautious consumer spending and ongoing changes in retail habits such as competition from online platforms. However, conditions should continue to improve in Hong Kong, with stronger visitor numbers providing support to retail consumption.

The official opening of Laneway (formerly known as Concord Square), our extensively refurbished shopping mall in Tsuen Wan, will contribute meaningfully to the Group’s rental revenue as leasing activity continues. We remain focused on building a compelling and diverse tenant mix in what remains a selective leasing environment.

On the macroeconomic front, the Hong Kong economy, which is expected to grow between 2.5% and 3.5% in 2026, provides a supportive backdrop for the Group’s operations. While the benefits to retail leasing fundamentals are likely to be gradual, this growth outlook, combined with the wealth effect from an improving residential property market, underpins a more constructive medium-term environment than in prior periods.

The Company maintains a cautious but opportunistic approach, focusing on operational efficiency and selective capital deployment. We remain well-positioned to benefit from the ongoing market recovery and continue to prioritize financial discipline as leasing conditions gradually improve.