Champion Real Estate Investment Trust (2778) slid as much as 8 percent on the announcement of a reduced distribution per unit.

The commercial property trust declared on Wednesday a distribution per unit of 14.22 HK cents for last year, 15.55 percent lower than one year prior.

Champion’s net property income shrank by 6.5 percent year-on-year to HK$1.82 billion in 2024, as the commercial property market in Hong Kong continued to face challenges amid a slower-than-expected interest rate cut pace.

The owner of Three Garden Road in Central and Langham Place in Mong Kok saw its share prices hit as low as HK$1.63 in the early trading hours. Its latest price was HK$1.69, 5 percent lower than the previous close.