It is learned from the WiseNews App that Sands China (01928) fell nearly 4% in early trading, down 3.61% to HKD 14.94 with a turnover of HKD 0.103 billion at the time of publication.

According to the Generally Accepted Accounting Principles in the United States, Sands China announced that its net profit for the second quarter increased by 8% year-on-year to USD 1.75 billion. Net revenue was USD 0.246 billion, an increase of 31.6% year-on-year. Adjusted property EBITDA was USD 0.561 billion, an increase of 3.7% year-on-year. Morgan Stanley points out that its adjusted property EBITDA is lower than the market's original expectation of USD 0.588 billion.

According to Deutsche Bank, the poor performance of Sands China in the quarter was mainly due to the cost of reinvestment, and the market share of its mid-term gambling revenue fell by 80 basis points to 24.5%, which was in line with external expectations, mainly due to the suspension of operations of the Londoner Macao casino and guest rooms for renovation. It is believed that future market share will still be challenging.