Core Viewpoint - Garmin Group Holdings (01271) reported a significant decline in revenue and a shift from profit to loss for the six months ending September 30, 2025, primarily due to reduced residential property deliveries and the expiration of a data center lease [1] Financial Performance - Revenue for the period was HKD 253.5 million, representing a year-on-year decrease of 62.9% [1] - The company recorded a net loss of HKD 26.052 million, compared to a profit of HKD 52.6 million in the same period last year [1] - Basic loss per share was HKD 0.018 [1] Contributing Factors - The transition from net profit to net loss was mainly attributed to: - A significant reduction in residential property deliveries and the expiration of a data center lease [1] - A decrease in sales expenses due to reduced property sales revenue [1] - A notable decline in fair value gains from revaluation of investment properties, which dropped to HKD 0.4 million [1]

Group 1 - The core viewpoint of the article highlights a significant decline in Garmin Group Holdings' interim performance for the six months ending September 30, 2025, with revenue dropping by 62.9% to 253.5 million (from 683.7 million in 2024) and a loss of 26.1 million compared to a profit of 52.6 million in 2024 [1] - The decrease in revenue and gross profit is primarily attributed to a substantial reduction in residential property deliveries and the expiration of a data center lease [1] - The company has decided not to declare any interim dividend for the first half of 2025/26, with net asset value reported at 2.6931 billion as of September 30, 2025 [1] Group 2 - The company is closely monitoring market changes and continues to sell remaining units of "Mingqiao Hui" and "Mingyu," while managing financial resources and exploring refinancing opportunities to improve financial conditions for long-term growth [2] - The pre-sale of the "Beiying Hui" project has commenced with strong market response, and it is expected to sell out completely, with delivery anticipated in the first quarter of 2026 [2]

Financial Performance - Revenue decreased by 62.9% to HKD 253.5 million compared to HKD 683.7 million in the same period last year[4] - The company reported a loss of HKD 26.1 million, compared to a profit of HKD 52.6 million in the previous year, resulting in a basic loss per share of HKD 1.8 cents[4] - Total comprehensive loss for the period amounted to HKD 27.8 million, compared to a total comprehensive income of HKD 53.1 million last year[6] - Operating profit for the period was HKD 25.3 million, down from HKD 118.5 million in the previous year[5] - The group recorded a net loss of HKD 26,052,000 for the period ending September 30, 2025, with current net liabilities amounting to HKD 4,095,689,000[12] - The company reported a loss attributable to equity shareholders of HKD 26,052,000 for the six months ended September 30, 2025, compared to a profit of HKD 52,600,000 in 2024[30] - Basic and diluted loss per share for the period was HKD (1.9), compared to earnings of HKD 1.9 per share in the previous year[31] - The consolidated gross profit decreased by 71.3% to HKD 87.9 million, down from HKD 305.9 million in the previous year[53] Revenue Breakdown - Revenue from external customers for the six months ending September 30, 2025, totaled HKD 253,504,000, with segment performance showing a loss of HKD 18,403,000 before tax[18] - Revenue from property sales was HKD 131,132,000, down 75.3% from HKD 532,214,000 in the previous year[24] - Rental income decreased to HKD 90,555,000, a decline of 17.0% from HKD 109,159,000 in the prior year[25] - The group's data center leasing revenue decreased by 17.1% year-on-year to HKD 115.2 million, primarily due to the expiration of a lease for one data center during the review period[48] - Construction revenue from external clients for the first half of 2025/26 was HKD 2.9 million, a decrease of 66.3% compared to the first half of 2024/25[50] Assets and Liabilities - Net asset value as of September 30, 2025, was HKD 2.693 billion[8] - Non-current assets increased to HKD 7.632 billion from HKD 7.338 billion[7] - Current assets slightly increased to HKD 1.774 billion from HKD 1.759 billion[7] - Current liabilities rose to HKD 5.870 billion from HKD 5.530 billion, leading to a current net liability of HKD 4.096 billion[8] - As of September 30, 2025, the group had bank loans of HKD 5,382,890,000 due within twelve months, while holding only HKD 42,626,000 in cash and bank balances[12] - The group had outstanding bank loans of approximately HKD 5.526 billion as of September 30, 2025, an increase from HKD 5.229 billion on March 31, 2025[55] Financial Management and Compliance - The group failed to comply with certain financial covenants on bank financing, with outstanding loans of HKD 4,724,268,000, which may become immediately due[12] - The group has successfully obtained waivers from banks for non-compliance on loans amounting to HKD 4,141,599,000[12] - The group is actively monitoring compliance with bank loan covenants and will renegotiate terms if potential non-compliance arises[15] - The effective tax rate for the period was 16.5%, consistent with the previous year, with current tax expense of HKD 7,649,000 compared to HKD 15,142,000 in 2024[27] Dividends and Shareholder Returns - The board has decided not to declare any interim dividend for the first half of 2025/26[4] - The company did not declare any interim dividends for the six months ended September 30, 2025, consistent with the previous year[29] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities in the first half of 2025/26, and held no treasury shares as of September 30, 2025[64] Projects and Future Plans - The company continues to engage in building construction, property leasing, and property development activities[10] - The group is considering the sale of several assets, including a portfolio of four data center projects, to improve liquidity and reduce debt[15] - The group has entered into a non-binding indicative term sheet with a potential buyer for the sale of its four data center projects, which is expected to improve the group's financial position and reduce overall debt levels[52] - The group has initiated the pre-sale of the "North View" project, which has received a positive market response and is expected to sell out completely by the first quarter of 2026[51] Employee and Governance - As of September 30, 2025, the group had a total of 168 employees, with total employee compensation for the first half of 2025/26 amounting to approximately HKD 61.2 million[63] - An audit committee has been established, consisting of four independent non-executive directors, and has reviewed the unaudited condensed consolidated interim financial statements for the first half of 2025/26 without any disagreements with management[67] - The interim results announcement and report for the first half of 2025/26 have been published on the company's website and the Hong Kong Stock Exchange website, containing all required information[68]

Core Viewpoint - Garmin Group Holdings (01271) anticipates a net loss of approximately HKD 25 million to HKD 30 million for the six months ending September 30, 2025, following a net profit of approximately HKD 52.6 million for the six months ending September 30, 2024 [1] Financial Performance - The expected net loss is primarily attributed to a significant reduction in residential property delivery area and the expiration of a lease for a data center, leading to a decrease in revenue and gross profit by approximately HKD 430 million and HKD 218 million, respectively [1] - Due to the decline in property sales revenue, selling expenses are expected to decrease by approximately HKD 160 million [1] - The fair value gains from the revaluation of investment properties during the period are expected to significantly decrease, recording only about HKD 400,000 compared to approximately HKD 25.6 million for the six months ending September 30, 2024 [1]

Core Viewpoint - Garmin Group Holdings (01271) anticipates a net loss of approximately HKD 25 million to HKD 30 million for the six months ending September 30, 2025, following a net profit of approximately HKD 52.6 million for the six months ending September 30, 2024 [1] Financial Performance - The expected net loss is primarily attributed to a significant reduction in residential property delivery area and the expiration of a lease for a data center, leading to a revenue decrease of approximately HKD 430 million and a gross profit decrease of approximately HKD 218 million [1] - Due to the decline in property sales revenue, selling expenses are expected to decrease by approximately HKD 160 million [1] - The fair value gains from revaluation of investment properties during the period are expected to be significantly lower, recording only approximately HKD 400,000 compared to approximately HKD 25.6 million for the six months ending September 30, 2024 [1]

董事会认为，期间预期录得净亏损主要由以下因素综合影响所致(i)该期间住宅物业交付物业面积大幅减 少及数据中心一项租约到期，导致收入及毛利分别减少约4.30亿港元及2.18亿港元；(ii)因上述物业销售 收入减少，销售开支相应减少约1.60亿港元；及(iii)该期间发展中投资物业重估产生的公允价值收益显 著减少，仅录得约40万港元，相较截至2024年9月30日止六个月则录约2,560万港元。 格隆汇11月18日丨佳明集团控股(01271.HK)公布，预期集团于截至2025年9月30日止六个月将录得净亏 损约2,500万港元至约3,000万港元，而截至2024年9月30日止六个月则录净溢利约5,260万港元。 ...

GRAND MING GROUP HOLDINGS LIMITED 佳 明 集 團 控 股 有 限 公 司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公佈所載資料僅根據董事會參考目前董事會可得的資料及對本集團本期間未經審核綜 合管理賬目所作的初步評估；有關賬目尚未經本公司審核委員會審閱及本公司核數師審 核或審閱。本公司仍在落實本集團本期間業績，因此實際結果可能有別於本公佈所載資 料。本集團本期間的財務業績詳情將於本公司中期業績公佈內披露，該公佈預期將於二零 二五年十一月二十七日刊發。 股東及潛在投資者於買賣本公司股份時務請審慎行事。 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1271） 盈利警告 本公佈乃由佳明集團控股有限公司（「本公司」，連同其附屬公司，統稱「本集團」） 根據香港聯合交易所有限公司證劵上市規則（「上市規則」）第 13.09(2)(a)條及香港法 例第 571 章證劵及期貨條例第 XIVA ...

Core Viewpoint - Garmin Group Holdings (01271.HK) announced that its board meeting will be held on November 27, 2025, to consider and approve the unaudited interim results for the six months ending September 30, 2025, and to consider the distribution of an interim dividend, if any [1] Summary by Categories - **Company Announcement** - Garmin Group Holdings will hold a board meeting on November 27, 2025 [1] - The meeting will focus on the approval of the unaudited interim results for the six months ending September 30, 2025 [1] - The board will also consider the distribution of an interim dividend [1]

香港 交易及結 算所有限 公司及香 港聯合交 易所有限 公司對本 公佈的內 容概不 負 責 ， 對其準確性或完整性亦不發表任何聲明 ， 並明確表示概不對因本公佈全部或 任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 董事會會議日期 佳明集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈， 董事會會議將於二零二五年十一月二十七日（星期四）舉行，藉以（其中包括）考慮及 批准本公司及其附屬公司截至二零二五年九月三十日止六個月未經審核之中期業績，以 及考慮派發中期股息（如有）。 承董事會命 佳明集團控股有限公司 主席及執行董事 陳孔明 香港，二零二五年十一月十七日 GRAND MING GROUP HOLDINGS LIMITED 佳 明 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （ 股 份 代 號 ： 1271） 於本公佈日期，執行董事為陳孔明先生、劉志華先生、曾嘉敏女士及陳沛妍小姐; 獨 立非執行董事為徐家華先生、簡友和先生、何超然先生及李宗燿先生。 ...

致：香港交易及結算所有限公司 本月底法定/註冊股本總額： HKD 100,000,000 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 截至月份: 2025年10月31日 狀態: 新提交 公司名稱: 佳明集團控股有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 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) | 01271 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.0 ...