CapitaLand China Trust (AU8U) reported a distribution per unit (DPU) of 2.45 Singapore cents for the six months ended Jun, 30 2026, matching the prior-year period. On a same-store basis, which excludes the contribution from the divested CapitaMall Yuhuating, DPU rose 2.9% year on year to 2.45 Singapore cents.

Unitholders on record as at Aug, 14 2026 will receive the interim distribution on Sep, 9 2026, representing an annualised distribution yield of 7.4%.

First-half gross revenue declined 4.4% to 152.3 million Singapore dollars, while net property income fell 2.5% to 103.9 million Singapore dollars, mainly due to the October 2025 divestment of CapitaMall Yuhuating. On a same-store basis, gross revenue slipped 0.2% and net property income increased 1.3% in renminbi terms.

The trust’s retail portfolio, which contributed 70.6% of total gross rental income, saw committed occupancy improve to 97.3% from 96.9% a year earlier. Retail revenue on a like-for-like basis inched up 0.8% year on year, supported by completed asset enhancement initiatives at CapitaMall Xizhimen, CapitaMall Wangjing and CapitaMall Xuefu. Business parks were 85.1% occupied, while logistics parks improved to 99.0% from 96.6%.

Gearing decreased to 40.4% as at Jun, 30 2026 from 42.1% a year ago, aided by loan repayments funded by the CapitaMall Yuhuating divestment and a 4.2% appreciation of the renminbi against the Singapore dollar. The average cost of debt fell 36 basis points to 3.06% per annum, generating a 16% reduction in interest expense, and the interest coverage ratio stood at 2.9 times.

CapitaLand China Trust said it would continue to pursue retail acquisitions in China’s Tier 1 and Tier 2 cities and explore further asset enhancement initiatives while maintaining a disciplined capital management approach.