Zhang Yong bought a luxury house in Hong Kong: the total price was HK$53.54 million and a deposit of 2.677 million was paid. Last year’s net rental income after tax exceeded one million.

On October 24, Hysan Industrial (00014.HK) announced that the company's wholly-owned subsidiary Guangzhou Investment Limited, as the seller, entered into an agreement with the buyer Verdant Peak Investment Limited to sell a residential unit in Zhulin Court. The unit has a usable area of ​​approximately 2,084 square feet (approximately 193 square meters) for a consideration of HK$53.54 million. The buyer is wholly owned by Mr. Zhang Yong, an independent non-executive director. According to the listing rules, the transaction constitutes a related transaction.

According to the agreement, the buyer must pay an initial deposit of HK$2.677 million (accounting for 5% of the consideration) when signing the agreement, and an additional deposit of HK$2.677 million (accounting for 10% of the consideration together with the initial deposit) on or before November 7, 2025. The balance will be paid on or before the completion date of January 24, 2026.

As of the end of June 2025, the valuation of the subject property was HK$34.313 million, and the net rental income after tax in 2024 was HK$1.018 million, a year-on-year increase of 51% compared to HK$673,000 in 2023. It is currently vacant.

On December 9, 2024, Hysan Industrial appointed Zhang Yong as an independent non-executive director and a member of the board committee, which once attracted attention. Hysan Properties is a well-established real estate developer in Hong Kong, mainly engaged in the leasing of shops, office buildings, and residential properties.

Information shows that Zhang Yong joined Alibaba Group in 2007 and served as the chief financial officer and chief operating officer of Taobao. Later, he also served as the general manager of Taobao Mall. In June 2011, after Taobao Mall was renamed, he became the president of the independent business. In May 2015, Zhang Yong took over as the CEO of Alibaba Group. From September 2019, he also served as the chairman of the board of directors of Alibaba Group until he resigned in September 2023.

The announcement shows that Bamboo Grove is a residential project developed by Hysan Group and is located in a prime location on Kennedy Road in Mid-Levels, Hong Kong. The project consists of 6 residential towers with a total of 345 residential units and 436 parking spaces. Bamboo Grove is held by Hysan Group for leasing purposes. Starting from August 2025, Hysan Group has sold residential units and some parking spaces in the two residential towers of Zhulin Court in phases.

According to reports, the project is part of Hysan Group’s capital recycling plan and aims to achieve three major goals: optimizing Hysan Group’s capital structure through deleveraging; releasing the value of mature non-core residential assets; and redeploying capital to key strategic areas of the company. The sale is expected to bring total proceeds of approximately HK$19.3 million to Hysan Group.

It is worth mentioning that on the 4th of this month, Hysan Properties announced the sale of three residential units in Zhulin Court. The sale is expected to bring total revenue to the group of approximately HK$49.268 million.

Unit 1, Unit 2 and Unit 3 are all residential units in Zhulin Court, with salable areas of approximately 2191 square feet (approximately 243.44 square meters), 1451 square feet (approximately 161.22 square meters) and 1503 square feet (approximately 167 square meters) respectively.

Among them, buyer A (Sharp Focus Limited) paid HK$56.39 million to purchase unit 1, which is wholly owned by the spouse of non-executive director Mr. Li Gan. Buyer B (Mr. Nicolas Hugh Ingram) paid HK$77.23 million to purchase Units 2 and 3. He is the son of the company chairman Ms. Li Yunlian.

According to Wind data, Hysan Industrial's interim results show that the company's revenue in the first half of 2025 was HK$1.73 billion, a year-on-year increase of 2.19%; the profit attributable to shareholders was HK$75 million, a year-on-year decrease of 82.44%.

In 2024, the company recorded a profit attributable to shareholders of HK$35 million, turning a profit from a loss of HK$872 million in the same period last year; total revenue was HK$3.409 billion, a year-on-year increase of 6.2%.

It is worth mentioning that Hysan Industrial’s share price has risen by more than 46% this year. As of press time, the company's stock price is trading at HK$15.96, with a market value of approximately HK$16.4 billion.