FE HLDGS INTL(00036)

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远东控股国际(00036) - 股份发行人的证券变动月报表截至2025年9月30日止
2025-10-02 02:48
| 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | 致:香港交易及結算所有限公司 | | | | 公司名稱: | 遠東控股國際有限公司 | | | 呈交日期: | 2025年10月2日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 第 3 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00036 | 說明 | | | | | | | | | | 已發行股份(不包括庫存股份)數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 326,735,577 | | 0 | | 326,7 ...
远东控股国际(00036) - 致非登记股东之通知信函及回条
2025-09-23 04:09
(Incorporated in Hong Kong with limited liability) (於香港註冊成立之有限公司) (Stock code 股份代號:36) – Notice of Publication of Interim Report 2025 (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the website of The Stock Exchange of Hong Kong Limited ("HKEX") at www.hkexnews.hk and the Company's website at http://www.0036.com.hk. If you are a new non- registered shareholder (i.e. if you previously have n ...
远东控股国际(00036) - 致登记股东之通知信函及回条
2025-09-23 04:07
(Incorporated in Hong Kong with limited liability) (於香港註冊成立之有限公司) (Stock code 股份代號:36) N O T I F I C A T I O N L E T T E R 通 知 信 函 Dear Registered Shareholders, Far East Holdings International Limited (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the website of The Stock Exchange of Hong Kong Limited ("HKEX") at www.hkexnews.h ...
远东控股国际(00036) - 2025 - 中期财报
2025-09-23 04:05
Contents 目錄 | Corporate Information | 集團資料 | 2 | | --- | --- | --- | | Corporate Profile | 集團業務圖 | 4 | | Management Discussion and Analysis | 管理層論述及分析 | 5 | | Disclosure of Additional Information | 其他資料的披露 | 12 | | Condensed Consolidated Statement of Profit or Loss and | 簡明綜合損益及 | 15 | | Other Comprehensive Income | 其他全面收益表 | | | Condensed Consolidated Statement of Financial Position | 簡明綜合財務狀況表 | 16 | | Condensed Consolidated Statement of Changes in Equity | 簡明綜合權益變動表 | 17 | | Condensed Consolidated Statem ...
远东控股国际(00036) - 股份发行人的证券变动月报表截至2025年8月31日止
2025-09-01 05:50
| 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致:香港交易及結算所有限公司 | | | | 公司名稱: | 遠東控股國際有限公司 | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00036 | 說明 | | | | | | | | | | 已發行股份(不包括庫存股份)數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 326,735,577 | | 0 | | 326,735,577 | | 增加 / 減少 (-) ...
远东控股国际(00036)发布中期业绩,股东应占亏损1530.2万港元 同比减少94.39%
Xin Lang Cai Jing· 2025-08-28 10:57
Core Points - Far East Holdings International (00036) reported a revenue of HKD 5.515 million for the six months ending June 30, 2025, representing a year-on-year decrease of 18.25% [1] - The company recorded a loss attributable to shareholders of HKD 15.302 million, a significant reduction of 94.39% compared to the previous year [1] - The total comprehensive loss for the period was approximately HKD 17.9 million, a substantial decrease from around HKD 506.9 million in 2024, primarily due to the decline in revenue [1]
远东控股国际发布中期业绩,股东应占亏损1530.2万港元 同比减少94.39%
Zhi Tong Cai Jing· 2025-08-28 10:54
Group 1 - The company, Far East Holdings International (00036), reported a revenue of HKD 5.515 million for the six months ending June 30, 2025, representing a year-on-year decrease of 18.25% [1] - The loss attributable to shareholders was HKD 15.302 million, a significant reduction of 94.39% compared to the previous year [1] - The total comprehensive loss for the period was approximately HKD 17.9 million, a substantial decrease from around HKD 506.9 million in 2024, primarily due to the decline in revenue [1]
远东控股国际(00036) - 2025 - 中期业绩
2025-08-28 10:36
I. [Interim Results Announcement Summary](index=1&type=section&id=I.%20Interim%20Results%20Announcement%20Summary) This section provides an overview of Far East Holdings International Limited's unaudited interim results for the six months ended June 30, 2025 1.1 [Performance Overview](index=1&type=section&id=1.1%20Performance%20Overview) Far East Holdings International Limited announced its unaudited condensed consolidated interim results for the six months ended June 30, 2025, with comparative data for 2024 - This announcement presents the unaudited condensed consolidated interim results of Far East Holdings International Limited and its subsidiaries for the six months ended June 30, 2025[2](index=2&type=chunk) 1.2 [Going Concern Assumption](index=5&type=section&id=1.2%20Going%20Concern%20Assumption) The Group faces net current liabilities and plans measures like loan extensions, asset sales, and market strategy optimization to ensure going concern for at least 12 months - As of June 30, 2025, the Group had **net current liabilities of HKD 632.994 million**, primarily comprising bank borrowings of **HKD 351.76 million** repayable on demand and a non-controlling interests loan of **HKD 152.7 million** due on April 30, 2026[8](index=8&type=chunk) - The Board has prepared cash flow forecasts for the next 12 months and plans measures including negotiating loan extensions with non-controlling interests, disposing of investments held for trading, re-evaluating market strategies to reduce investment property vacancy rates, and considering the disposal of investment properties to enhance liquidity if needed[8](index=8&type=chunk)[11](index=11&type=chunk) - The Directors believe that, assuming the successful implementation of these measures, the Group will be able to fund its operations and meet its financial obligations for at least the next twelve months[11](index=11&type=chunk) II. [Condensed Consolidated Financial Statements](index=2&type=section&id=II.%20Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's condensed consolidated financial statements, including profit or loss, other comprehensive income, and financial position 2.1 [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=2.1%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group reported increased net revenue but a significant loss before tax due to fair value losses on investment properties Key Data from Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30, 2025) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Change | | :--- | :--- | :--- | :--- | | Revenue | 6,746 | 5,515 | Increase | | Operating costs of leases | (719) | (1,006) | Decrease | | Net rental income | 6,027 | 4,509 | Increase | | Other income | 15 | 183 | Decrease | | Net other losses | (487,540) | (180) | Significant Increase | | Administrative expenses | (1,901) | (1,762) | Increase | | Finance costs | (23,511) | (20,622) | Increase | | Loss before income tax | (506,910) | (17,872) | Significant Increase | | Income tax expense | (37) | – | Increase | | Loss and total comprehensive loss for the period | (506,910) | (17,909) | Significant Increase | | Loss attributable to owners of the Company | (272,868) | (15,302) | Significant Increase | | Loss attributable to non-controlling interests | (234,042) | (2,607) | Significant Increase | | Basic loss per share (HK cents) | (224.75) | (5.51) | Significant Increase | 2.2 [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=2.2%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total net assets increased, with higher bank balances and cash, despite persistent net current liabilities Key Data from Condensed Consolidated Statement of Financial Position (As of June 30, 2025) | Indicator | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change | | :--- | :--- | :--- | :--- | | **Non-current assets** | | | | | Investment properties | 768,300 | 768,300 | Stable | | Property, plant and equipment | 981 | 928 | Increase | | **Current assets** | | | | | Investments held for trading | 840 | 1,020 | Decrease | | Rental receivables and other receivables | 2,096 | 1,016 | Increase | | Bank balances and cash | 8,285 | 628 | Significant Increase | | **Current liabilities** | | | | | Other payables | 54,903 | 46,107 | Increase | | Amounts due to non-controlling interests | 84,649 | 60,933 | Increase | | Bank borrowings | 351,760 | 390,024 | Decrease | | Non-controlling interests loan | 152,700 | – | Significant Increase | | **Non-current liabilities** | | | | | Other loans | 13,103 | 51,385 | Decrease | | Non-controlling interests loan | – | 152,700 | Decrease | | **Net assets** | 122,889 | 70,170 | Increase | | **Equity attributable to owners of the Company** | 57,692 | 2,366 | Significant Increase | | **Non-controlling interests** | 65,197 | 67,804 | Decrease | | **Total equity** | 122,889 | 70,170 | Increase | III. [Notes to the Condensed Consolidated Financial Statements](index=5&type=section&id=III.%20Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed notes on the basis of preparation, accounting policies, segment information, and other financial statement items 3.1 [Basis of Preparation and Accounting Policies](index=5&type=section&id=3.1%20Basis%20of%20Preparation%20and%20Accounting%20Policies) The condensed consolidated financial statements are prepared under HKAS 34 and Appendix 16 of the Listing Rules, primarily on a historical cost basis - The condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants and the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[6](index=6&type=chunk) - The financial statements are prepared on the **historical cost basis**, except for investment properties and certain financial instruments which are measured at fair value[9](index=9&type=chunk) - The adoption of all new and revised Hong Kong Financial Reporting Standards during the period had no significant impact on the Group's unaudited condensed consolidated financial statements[9](index=9&type=chunk) 3.2 [Segment Information](index=6&type=section&id=3.2%20Segment%20Information) The Group operates in two reportable segments: property investment and securities investment, with segment results calculated after deducting direct expenses - The Group has two reportable segments: **property investment** and **securities investment**[10](index=10&type=chunk) - Segment results represent the loss of each segment after deducting operating costs of leases and administrative expenses directly attributable to each segment, excluding unallocated other operating income and corporate expenses[12](index=12&type=chunk) 3.2.1 [Segment Revenue and Results](index=7&type=section&id=3.2.1%20Segment%20Revenue%20and%20Results) For the six months ended June 30, 2025, property investment revenue decreased, while both segments recorded losses, with property investment loss significantly narrowed Segment Revenue and Results (For the six months ended June 30, 2025) | Segment | 2025 Revenue (HKD thousands) | 2025 Results (HKD thousands) | 2024 Revenue (HKD thousands) | 2024 Results (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Property investment | 5,515 | (4,809) | 6,746 | (491,568) | | Securities investment | – | (180) | – | (2,340) | | Other operating income | 183 | – | 15 | – | | Unallocated expenses | – | (13,066) | – | (13,017) | | Loss before income tax | – | (17,872) | – | (506,910) | 3.3 [Net Other Losses](index=8&type=section&id=3.3%20Net%20Other%20Losses) For the six months ended June 30, 2025, the Group recorded significant net other losses primarily from fair value losses on investment properties Net Other Losses (For the six months ended June 30, 2025) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Fair value loss on investment properties | (485,200) | – | | Unrealised fair value loss on investments held for trading | (2,340) | (180) | | **Total** | **(487,540)** | **(180)** | 3.4 [Finance Costs](index=8&type=section&id=3.4%20Finance%20Costs) For the six months ended June 30, 2025, finance costs increased, mainly driven by interest on bank borrowings and non-controlling interests loans Finance Costs (For the six months ended June 30, 2025) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Interest on bank borrowings | 12,199 | 9,298 | | Interest on a non-controlling interests loan | 8,721 | 10,581 | | Interest on other loans | 2,591 | 743 | | **Total** | **23,511** | **20,622** | 3.5 [Income Tax Expense](index=8&type=section&id=3.5%20Income%20Tax%20Expense) For the six months ended June 30, 2025, income tax expense was HKD 37 thousand, calculated based on Hong Kong profits tax rates Income Tax Expense (For the six months ended June 30, 2025) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Hong Kong profits tax | 37 | – | | **Total** | **37** | **–** | - Hong Kong profits tax is calculated at a two-tiered rate, with the first **HKD 2,000,000** of assessable profits taxed at **8.25%** and the remainder at **16.5%**[16](index=16&type=chunk) 3.6 [Loss for the Period](index=9&type=section&id=3.6%20Loss%20for%20the%20Period) The loss for the period primarily comprises expenses such as depreciation, right-of-use assets, and staff and professional fees Components of Loss for the Period (For the six months ended June 30, 2025) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Directors' remuneration | 178 | – | | Depreciation | 197 | – | | Right-of-use assets | 951 | – | | Staff and professional fees | 983 | – | | Others | 28 | 34 | 3.7 [Dividends](index=9&type=section&id=3.7%20Dividends) No dividends were paid, declared, or proposed for the period, as the Board decided against any distribution - For the six months ended June 30, 2025, no dividends were paid, declared, or proposed, and the Board decided not to pay any dividends[18](index=18&type=chunk) 3.8 [Loss Per Share](index=9&type=section&id=3.8%20Loss%20Per%20Share) Basic loss per share attributable to owners of the Company significantly increased to 224.75 HK cents for the six months ended June 30, 2025 Loss Per Share (For the six months ended June 30, 2025) | Indicator | 2025 (HKD thousands/share) | 2024 (HKD thousands/share) | | :--- | :--- | :--- | | Loss for the period attributable to owners of the Company | (272,868) | (15,302) | | Weighted average number of ordinary shares | 121,411,621 | 277,956,958 | | Basic loss per share (HK cents) | (224.75) | (5.51) | - The weighted average number of ordinary shares used to calculate basic loss per share has been adjusted for the share consolidation on December 17, 2024, and the rights issue on February 5, 2025, with comparative data for 2024 restated[20](index=20&type=chunk) - Diluted loss per share is equal to basic loss per share as there were no potential dilutive ordinary shares during the period[20](index=20&type=chunk) 3.9 [Changes in Property, Plant and Equipment and Investment Properties](index=10&type=section&id=3.9%20Changes%20in%20Property,%20Plant%20and%20Equipment%20and%20Investment%20Properties) The Group acquired HKD 159 thousand in property, plant and equipment, with investment properties fair value determined by directors using market approach - During the period, the Group acquired property, plant and equipment of approximately **HKD 159,000**, but there were no additions or disposals of investment properties[21](index=21&type=chunk) - The fair value of investment properties is determined by the Directors using the market approach and is classified as Level 3 in the fair value hierarchy as of June 30, 2025, and December 31, 2024[21](index=21&type=chunk)[22](index=22&type=chunk) - The fair value loss on investment properties of **HKD 485,200,000** was recognised in profit or loss for the period, compared to nil in the prior period[22](index=22&type=chunk) 3.10 [Investments Held for Trading](index=10&type=section&id=3.10%20Investments%20Held%20for%20Trading) As of June 30, 2025, investments held for trading in Hong Kong listed equity securities decreased to HKD 840 thousand, valued by market quotes Investments Held for Trading (Listed Equity Securities) | Location | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Hong Kong | 840 | 1,020 | - The fair value of investments held for trading is determined by reference to market quotations available on the Stock Exchange[23](index=23&type=chunk) 3.11 [Rental Receivables and Other Receivables](index=11&type=section&id=3.11%20Rental%20Receivables%20and%20Other%20Receivables) As of June 30, 2025, total rental receivables and other receivables increased to HKD 2,096 thousand, with no credit period granted to tenants Rental Receivables and Other Receivables (As of June 30, 2025) | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Rental receivables | 94 | 224 | | Prepayments, deposits and other receivables | 2,002 | 792 | | **Total** | **2,096** | **1,016** | Ageing Analysis of Rental Receivables (By invoice date) | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | 1 to 30 days | – | – | | 31 to 60 days | – | 31 | | 61 to 90 days | – | 64 | | 91 to 180 days | – | 129 | | Over 180 days | 94 | – | | **Total** | **94** | **224** | - The Group does not grant any credit period to tenants[24](index=24&type=chunk) 3.12 [Other Payables](index=11&type=section&id=3.12%20Other%20Payables) As of June 30, 2025, other payables increased to HKD 54,903 thousand, mainly including rental deposits, other payables and accrued charges, and interest payable on loans Other Payables (As of June 30, 2025) | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Rental deposits received | 4,608 | 4,070 | | Other payables and accrued charges | 1,868 | 2,471 | | Interest payable on non-controlling interests loan and other loans | 48,427 | 39,566 | | **Total** | **54,903** | **46,107** | 3.13 [Non-Controlling Interests Loan](index=12&type=section&id=3.13%20Non-Controlling%20Interests%20Loan) As of June 30, 2025, the Group had an unsecured non-controlling interests loan of HKD 152.7 million, bearing 10% interest and due April 30, 2026 - As of June 30, 2025, the Group had an unsecured non-controlling interests loan of **HKD 152,700,000**, bearing a fixed annual interest rate of **10%** and due on April 30, 2026[26](index=26&type=chunk) 3.14 [Other Loans](index=12&type=section&id=3.14%20Other%20Loans) As of June 30, 2025, unsecured other loans significantly decreased to HKD 13.103 million, bearing 15% interest and due July 9, 2026 - As of June 30, 2025, the Group's unsecured other loans totaled **HKD 13,103,000**, bearing a fixed annual interest rate of **15%** and due on July 9, 2026[27](index=27&type=chunk) - Other loans decreased from **HKD 51,385,000** as of December 31, 2024, to **HKD 13,103,000** as of June 30, 2025[27](index=27&type=chunk) 3.15 [Bank Borrowings](index=12&type=section&id=3.15%20Bank%20Borrowings) As of June 30, 2025, bank borrowings decreased to HKD 351.76 million, secured by investment properties and classified as current liabilities due to demand clauses Bank Borrowings (As of June 30, 2025) | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Current bank borrowings | 351,760 | 390,024 | - Bank borrowings are secured by the Group's investment properties of **HKD 680,000,000** and bear interest at an annual rate of **HIBOR plus 1.4%**[28](index=28&type=chunk) - All bank borrowings are classified as current liabilities due to terms in the relevant loan agreements granting the lenders an unconditional right to demand repayment at any time at their discretion[28](index=28&type=chunk) Bank Borrowings Repayment Schedule (Without considering demand repayment clauses) | Repayment Period | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | On demand or within one year | 20,528 | 20,528 | | More than one year but not exceeding two years | 20,528 | 20,528 | | More than two years but not exceeding five years | 61,583 | 61,583 | | After five years | 249,121 | 287,385 | | **Total** | **351,760** | **390,024** | 3.16 [Share Capital](index=13&type=section&id=3.16%20Share%20Capital) As of June 30, 2025, the Company's share capital was HKD 705,363 thousand, reflecting a share consolidation and rights issue Share Capital Movement (As of June 30, 2025) | Item | Number of Shares | Share Capital (HKD thousands) | | :--- | :--- | :--- | | January 1, 2023, December 31, 2023, and January 1, 2024 | 1,089,118,593 | 632,610 | | Less: Share consolidation | (980,206,734) | – | | December 31, 2024, and January 1, 2025 | 108,911,859 | 632,610 | | Add: Shares issued under rights issue | 217,823,718 | 72,753 | | **June 30, 2025** | **326,735,577** | **705,363** | - The share consolidation became effective on **December 17, 2024**, consolidating every ten ordinary shares of **HKD 0.01** each into one consolidated share of **HKD 0.1** each[31](index=31&type=chunk) - The rights issue was completed on **February 5, 2025**, involving the issue of up to **217,823,718** rights shares at a subscription price of **HKD 0.334** per rights share on the basis of two rights shares for every one consolidated share[31](index=31&type=chunk) 3.17 [Fair Value Measurement of Financial Instruments](index=14&type=section&id=3.17%20Fair%20Value%20Measurement%20of%20Financial%20Instruments) Certain financial instruments, like Hong Kong listed equity securities, are measured at fair value using active market quotes (Level 1) Fair Value Measurement of Financial Assets (As of June 30, 2025) | Financial Asset | June 30, 2025 Fair Value (HKD thousands) | December 31, 2024 Fair Value (HKD thousands) | Fair Value Level | Valuation Techniques and Key Inputs | | :--- | :--- | :--- | :--- | :--- | | Hong Kong listed equity securities (Investments held for trading) | 840 | 1,020 | Level 1 | Quoted prices in active markets | - There were no transfers between Level 1, Level 2, and Level 3 during the current and prior periods[34](index=34&type=chunk) - The Directors believe that the carrying amounts of financial assets and financial liabilities recorded at amortised cost approximate their fair values[34](index=34&type=chunk) - The Group is exposed to equity price risk from its investments in listed equity securities, and a decrease in Hong Kong stock prices during the period resulted in the recognition of unrealised losses[34](index=34&type=chunk) 3.18 [Related Party Transactions](index=15&type=section&id=3.18%20Related%20Party%20Transactions) Key management personnel remuneration totaled HKD 665 thousand for the period, with no rental income transactions with common executive director companies Key Management Personnel Remuneration (For the six months ended June 30, 2025) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Short-term benefits | 654 | 684 | | Post-employment benefits costs | 11 | 12 | | **Total** | **665** | **696** | Significant Related Party Transactions (Rental Income) | Relationship with Related Party | Nature of Transaction | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | :--- | | Company with common executive director | Rental income | – | 180 | 3.19 [Review of Interim Accounts](index=15&type=section&id=3.19%20Review%20of%20Interim%20Accounts) The condensed consolidated interim financial statements are unaudited but have been reviewed by the Company's Audit Committee - The condensed consolidated interim financial statements are unaudited but have been reviewed by the Company's Audit Committee[38](index=38&type=chunk) IV. [Management Discussion and Analysis](index=16&type=section&id=IV.%20Management%20Discussion%20and%20Analysis) This section provides management's perspective on the Group's financial performance, business operations, capital structure, and future outlook 4.1 [Company Performance](index=16&type=section&id=4.1%20Company%20Performance) For the six months ended June 30, 2025, the Group's revenue decreased, but loss attributable to owners and total comprehensive loss significantly narrowed Company Performance Overview (For the six months ended June 30, 2025) | Indicator | 2025 (Approx. HKD millions) | 2024 (Approx. HKD millions) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Revenue | 5.5 | 6.7 | Decrease 18% | | Loss attributable to owners of the Company | 15.3 | 272.9 | Significant Narrowing | | Total comprehensive loss | 17.9 | 506.9 | Significant Narrowing | | Basic loss per share (HK cents) | 5.51 | 224.75 (Restated) | Significant Narrowing | 4.2 [Business Review and Outlook](index=16&type=section&id=4.2%20Business%20Review%20and%20Outlook) This section reviews the Group's property and securities investment performance and outlines expectations for improved rental income and asset fair values - The Group continues to engage in its core businesses in Hong Kong, primarily **property investment** and **securities investment**[41](index=41&type=chunk) 4.2.1 [Business Review](index=16&type=section&id=4.2.1%20Business%20Review) The Group's core businesses, property and securities investment in Hong Kong, experienced decreased rental income and unrealized losses due to market volatility 4.2.1.1 [Property Investment](index=16&type=section&id=4.2.1.1%20Property%20Investment) As of June 30, 2025, the investment property portfolio was valued at HKD 768.3 million, with rental income decreasing by 18% for the period - As of June 30, 2025, the carrying amount of the investment property portfolio was approximately **HKD 768.3 million**[42](index=42&type=chunk) Rental Income (For the six months ended June 30, 2025) | Property Location | 2025 (HKD thousands) | 2024 (HKD thousands) | Percentage Change | | :--- | :--- | :--- | :--- | | 9/F, Wing Hang Commercial Building, Queen's Road Central, Hong Kong | – | 720 | (100%) | | 10/F, Wing Hang Commercial Building, Queen's Road Central, Hong Kong | 743 | 743 | 0% | | Workshop 5, 4/F, Fu Kar Industrial Building, 234 Aberdeen Main Road, Hong Kong | 126 | 126 | 0% | | Commercial Podium, Jing Wei Plaza, 1 Wellington Street, Hong Kong | 4,646 | 5,157 | (10%) | | **Total** | **5,515** | **6,746** | **(18%)** | - Management will continue to review the investment property portfolio, seek potential acquisition and/or disposal opportunities, and re-evaluate market promotion strategies to reduce the vacancy rate of investment properties[42](index=42&type=chunk)[11](index=11&type=chunk) - The property on 9/F, Wing Hang Commercial Building was vacant during the period, but an offer to lease agreement has been entered into with a potential tenant, with the lease expiring in October 2028[46](index=46&type=chunk) 4.2.1.2 [Securities Investment](index=18&type=section&id=4.2.1.2%20Securities%20Investment) The Group recorded unrealized losses of approximately HKD 200 thousand on investments held for trading due to Hong Kong stock market volatility - During the period, due to the volatile Hong Kong stock market, the Group recorded an unrealised loss of approximately **HKD 200,000** on investments held for trading, a significant narrowing from **HKD 2,300,000** in the prior period[48](index=48&type=chunk) - As of June 30, 2025, investments held for trading amounted to approximately **HKD 800,000**, comprising one listed equity security on the Main Board of the Stock Exchange[48](index=48&type=chunk) Investments Held for Trading Portfolio (As of June 30, 2025) | Stock Code | Stock Name | Shares Held as of Dec 31, 2024 | Fair Value as of Dec 31, 2024 (HKD thousands) | Fair Value Change for the Period (HKD thousands) | Shares Held as of Jun 30, 2025 | Fair Value as of Jun 30, 2025 (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1557 | Jianhong Group Holdings | 6,000,000 | 1,020 | (180) | 6,000,000 | 840 | 4.2.2 [Outlook](index=19&type=section&id=4.2.2%20Outlook) The Group anticipates positive impacts from economic reopening, expecting increased rental income and fair values for investment properties and trading investments - Looking ahead, the full reopening of the regional economy is expected to have a positive impact on the Group's property investments, with anticipated increases in rental income and the fair values of investment properties and investments held for trading[49](index=49&type=chunk) - The Group is committed to improving property occupancy rates and seeking potential property acquisition and/or disposal opportunities to generate stable income and capital appreciation from properties[49](index=49&type=chunk) - Demand for office space, particularly from retail, entertainment, financial institutions, and professional services companies, is expected to increase, potentially leading to better future financial performance[49](index=49&type=chunk) 4.3 [Capital Reorganisation](index=19&type=section&id=4.3%20Capital%20Reorganisation) The Group completed a share consolidation, change in board lot size, and rights issue, raising net proceeds for loan repayment and working capital 4.3.1 [Share Consolidation](index=19&type=section&id=4.3.1%20Share%20Consolidation) The Company completed a share consolidation on December 17, 2024, merging ten existing shares into one consolidated share - The Company completed a share consolidation on **December 17, 2024**, consolidating every ten (10) existing shares into one (1) consolidated share[50](index=50&type=chunk) 4.3.2 [Change in Board Lot Size](index=19&type=section&id=4.3.2%20Change%20in%20Board%20Lot%20Size) The board lot size for the Company's shares traded on the Stock Exchange changed from 3,000 existing shares to 6,000 consolidated shares, effective December 17, 2024 - The board lot size for the Company's shares traded on the Stock Exchange changed from **3,000 existing shares** to **6,000 consolidated shares**, effective **December 17, 2024**[51](index=51&type=chunk) 4.3.3 [Rights Issue](index=20&type=section&id=4.3.3%20Rights%20Issue) The Company completed a rights issue on January 15, 2025, issuing up to 217,823,718 rights shares at HKD 0.334 per share, raising HKD 69.55 million net proceeds - The Company completed a rights issue on **January 15, 2025**, issuing up to **217,823,718** rights shares at a subscription price of **HKD 0.334** per rights share on the basis of two rights shares for every one consolidated share[52](index=52&type=chunk) - The rights issue was undersubscribed by **82,204,791** rights shares, representing approximately **37.74%** of the total, but these unsubscribed shares were successfully placed by the placing agent to no fewer than six independent placees[53](index=53&type=chunk) - The net proceeds from the rights issue were approximately **HKD 69.55 million**, of which approximately **HKD 44 million** was used for partial repayment of a loan due to a major shareholder, and the remaining **HKD 25.55 million** for the Group's general working capital[54](index=54&type=chunk) 4.4 [Financial Review](index=21&type=section&id=4.4%20Financial%20Review) This section reviews the Group's improved liquidity, reduced gearing ratio, changes in capital structure, and absence of significant risks or transactions 4.4.1 [Liquidity and Financial Resources](index=21&type=section&id=4.4.1%20Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's bank balances and cash significantly increased, funding operations through internal resources and various borrowings - As of June 30, 2025, the Group's bank balances and cash were approximately **HKD 8.3 million**, a significant increase from approximately **HKD 0.6 million** as of December 31, 2024[55](index=55&type=chunk) Interest-Bearing Borrowings (As of June 30, 2025) | Borrowing Type | June 30, 2025 (Approx. HKD millions) | December 31, 2024 (Approx. HKD millions) | | :--- | :--- | :--- | | Bank borrowings | 351.8 | 390.0 | | Non-controlling interests loan | 152.7 | 152.7 | | Other loans | 13.1 | 51.4 | 4.4.2 [Gearing Ratio](index=21&type=section&id=4.4.2%20Gearing%20Ratio) As of June 30, 2025, the gearing ratio significantly decreased to 897% from 25,110%, primarily due to an increase in equity attributable to owners - As of June 30, 2025, the gearing ratio was **897%**, a significant decrease from **25,110%** as of December 31, 2024[56](index=56&type=chunk) - The decrease in the gearing ratio was primarily due to an increase in equity attributable to owners of the Company during the period[56](index=56&type=chunk) 4.4.3 [Capital Structure](index=21&type=section&id=4.4.3%20Capital%20Structure) As of June 30, 2025, the total number of issued ordinary shares increased due to the rights issue, with net proceeds used for loan repayment and working capital - As of June 30, 2025, the total number of issued ordinary shares of the Company increased from **108,911,859** as of December 31, 2024, to **326,735,577**[57](index=57&type=chunk) - The net proceeds from the rights issue, approximately **HKD 69.55 million**, were used to partially repay a loan due to a major shareholder (**HKD 44 million**) and for the Group's general working capital (**HKD 25.55 million**)[58](index=58&type=chunk) 4.4.4 [Foreign Exchange Fluctuation Risk](index=22&type=section&id=4.4.4%20Foreign%20Exchange%20Fluctuation%20Risk) The Group did not have any significant foreign exchange fluctuation risk during the period - The Group did not have any significant foreign exchange fluctuation risk during the period[60](index=60&type=chunk) 4.4.5 [Pledge of Group Assets](index=22&type=section&id=4.4.5%20Pledge%20of%20Group%20Assets) As of June 30, 2025, investment properties totaling approximately HKD 680 million were pledged as security for the Group's bank borrowings - As of June 30, 2025, investment properties of approximately **HKD 680 million** were pledged as security for the Group's bank borrowings of approximately **HKD 351.8 million**[61](index=61&type=chunk) 4.4.6 [Contingent Liabilities and Capital Commitments](index=22&type=section&id=4.4.6%20Contingent%20Liabilities%20and%20Capital%20Commitments) As of June 30, 2025, the Company had no contingent liabilities, and the Group had no significant capital commitments - As of June 30, 2025, the Company had no contingent liabilities[62](index=62&type=chunk) - As of June 30, 2025, the Group had no significant capital commitments[63](index=63&type=chunk) 4.4.7 [Significant Acquisitions and Disposals](index=22&type=section&id=4.4.7%20Significant%20Acquisitions%20and%20Disposals) The Group did not undertake any significant acquisitions or disposals during the period - The Group did not undertake any significant acquisitions or disposals during the period[64](index=64&type=chunk) 4.4.8 [Employees and Remuneration Policy](index=22&type=section&id=4.4.8%20Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group employed 8 staff in Hong Kong, offering competitive remuneration and potential discretionary year-end bonuses - As of June 30, 2025, the Group employed **8 staff** in Hong Kong[65](index=65&type=chunk) - The Group offers competitive remuneration packages based on industry practice and individual employee performance, and may grant discretionary year-end bonuses to well-performing employees[65](index=65&type=chunk) 4.4.9 [Interim Dividends](index=22&type=section&id=4.4.9%20Interim%20Dividends) No dividends were paid, declared, or proposed for the period, as the Board decided against any distribution - No dividends were paid, declared, or proposed for the period, and the Board has decided not to pay any dividends for the period[66](index=66&type=chunk) V. [Other Information and Corporate Governance](index=23&type=section&id=V.%20Other%20Information%20and%20Corporate%20Governance) This section covers disclosures regarding directors' and substantial shareholders' interests, securities transactions, and compliance with corporate governance codes 5.1 [Directors' and Chief Executive's Interests](index=23&type=section&id=5.1%20Directors'%20and%20Chief%20Executive's%20Interests) As of June 30, 2025, no directors or chief executive had registrable interests or short positions in the Company's or its associated corporations' securities - As of June 30, 2025, no Directors or chief executive of the Company and their associates had any registrable interests or short positions in the shares, underlying shares, or debentures of the Company or any of its associated corporations[67](index=67&type=chunk) 5.2 [Substantial Shareholders' Interests](index=23&type=section&id=5.2%20Substantial%20Shareholders'%20Interests) As of June 30, 2025, the Company's register of substantial shareholders showed no direct or indirect interests of 5% or more in the issued share capital - As of June 30, 2025, the Company's register of substantial shareholders showed no shareholders who had notified the Company of direct or indirect interests or short positions of **5% or more** in the Company's issued share capital[68](index=68&type=chunk) 5.3 [Purchase, Sale or Redemption of the Company's Listed Securities](index=23&type=section&id=5.3%20Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) Neither the Company nor its subsidiaries entered into arrangements for directors to subscribe for securities, nor did they purchase, sell, or redeem any listed securities - Neither the Company, any of its subsidiaries, nor any fellow subsidiaries entered into any arrangements during the period and up to the date of this announcement that would grant Directors or the Company's chief executive or their respective associates any right to subscribe for securities of the Company or any of its associated corporations[69](index=69&type=chunk) - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the period[70](index=70&type=chunk) 5.4 [Compliance with the Model Code for Securities Transactions by Directors](index=24&type=section&id=5.4%20Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company adopted the Model Code for securities transactions by directors, and all directors confirmed compliance during the period - The Company has adopted the Model Code as its code of conduct for Directors' securities transactions, and all Directors confirmed compliance with the standards set out in the Model Code during the period[71](index=71&type=chunk) 5.5 [Compliance with the Corporate Governance Code](index=24&type=section&id=5.5%20Compliance%20with%20the%20Corporate%20Governance%20Code) The Company complied with the Corporate Governance Code, with a deviation from C.2.1 regarding the separation of Chairman and CEO functions - The Company has complied with all code provisions of the Corporate Governance Code set out in Part 2 of Appendix 14 to the Listing Rules during the period, except for a deviation from code provision C.2.1, which stipulates that the roles of chairman and chief executive should be separate[72](index=72&type=chunk) - The Company does not have a formal chief executive, and the responsibilities of the chief executive and the day-to-day operations of the Group are handled collectively by the executive Directors[73](index=73&type=chunk) - The Board believes that a balance of power and authority is ensured through the operation of the Board, which comprises individuals with extensive experience, and through regular Board meetings to discuss matters affecting the Group's operations[73](index=73&type=chunk) 5.6 [Disclosure of Directors' Information](index=24&type=section&id=5.6%20Disclosure%20of%20Directors'%20Information) No changes in directors' information have occurred since the publication of the Company's 2024 annual report, as per Listing Rule 13.51.B - No changes in Directors' information have occurred since the disclosure in the Company's 2024 annual report or announcements regarding Directors' appointments and/or resignations, as per Listing Rule 13.51.B[74](index=74&type=chunk) 5.7 [Audit Committee](index=25&type=section&id=5.7%20Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviewed the Group's accounting principles, audit, internal controls, and interim financial statements - The Board has established an Audit Committee, comprising three independent non-executive Directors (Mr. Lam Wai Hung, Mr. Mak Ka Wing, and Mr. Lam Cheung Shing)[75](index=75&type=chunk) - The Audit Committee is primarily responsible for reviewing the accounting principles and practices adopted by the Group and discussing audit, internal control, and financial reporting matters, including the review of the Group's unaudited interim financial statements for the six months ended June 30, 2025[75](index=75&type=chunk) 5.8 [Board of Directors](index=25&type=section&id=5.8%20Board%20of%20Directors) As of the announcement date, the Board of Directors includes executive, non-executive, and independent non-executive directors - As of the date of this announcement, the Board of Directors comprises Mr. Cheung Sze Man and Ms. Li Ka Lai as executive Directors; Mr. Chu Wai Man as non-executive Director; and Mr. Mak Ka Wing, Mr. Lam Wai Hung, and Mr. Lam Cheung Shing as independent non-executive Directors[76](index=76&type=chunk)
【盈警】远东控股国际(00036.HK)料中期亏损收窄至1790万港元
Jin Rong Jie· 2025-08-25 10:04
Core Viewpoint - Far East Holdings International (00036.HK) is expected to report a loss of approximately HKD 17.9 million for the six months ending June 30, 2025, a significant reduction compared to a loss of approximately HKD 507 million in the same period of 2024, primarily due to a decrease in fair value losses on investment properties [1] Summary by Relevant Categories - Financial Performance - Expected loss of HKD 17.9 million for the first half of 2025 [1] - Loss in the same period of 2024 was approximately HKD 507 million [1] - Significant reduction in losses attributed to decreased fair value losses on investment properties [1]
远东控股国际发盈警,预期中期亏损减少至约1790万港元
Zhi Tong Cai Jing· 2025-08-25 08:44
远东控股国际(00036)发布公告,集团预期将于截至2025年6月30日止6个月(本期间)取得亏损约1790万港 元,而截至2024年6月30日止6个月则取得亏损约5.07亿港元。亏损大幅减少主要由于本期间投资物业的 公平值亏损减少。 ...