Financial Performance - The group's consolidated revenue for the three months ended March 31, 2025, was approximately HKD 759.06 million, a decrease of 56.4% compared to HKD 1.74 billion for the same period in 2024[5]. - The group recorded a loss attributable to equity holders of approximately HKD 153.98 million, an increase of 54.4% from a loss of HKD 99.75 million in the same period last year[5]. - The fair value loss on investment properties was HKD 4.83 million, a significant decline of 2683.4% compared to a gain of HKD 0.19 million in the previous year[4]. - Total assets decreased by 1.4% to HKD 40.01 billion from HKD 40.56 billion as of December 31, 2024[4]. - Equity attributable to equity holders decreased by 3.9% to HKD 3.42 billion from HKD 3.56 billion as of December 31, 2024[4]. - The net asset value per share was HKD 2.00, down 3.8% from HKD 2.08[4]. - The decrease in revenue was primarily due to a reduction in the total floor area of properties sold during the review period[5]. Property Development and Management - The group has several ongoing projects, including residential and commercial developments in Shenzhen, Guangzhou, and other cities, with various completion timelines[6]. - The Guangzhou project "粤海雲港城" is currently for sale, with a total floor area of approximately 726,990 square meters, expected to be completed by 2028[6]. - The group is actively managing its property portfolio and exploring new development opportunities to enhance future revenue streams[6]. - The total signed and delivered floor area for the period was approximately 49,000 square meters and 47,000 square meters respectively, compared to 58,000 square meters and 79,000 square meters in the previous period[8]. - As of March 31, 2025, the group held completed unsold properties valued at approximately HKD 12.138 billion and properties under development valued at approximately HKD 13.413 billion, totaling about HKD 25.551 billion[10]. - The sales amount for properties that have been signed and paid for but not yet delivered was approximately HKD 10.135 billion, an increase from HKD 9.386 billion as of December 31, 2024[10]. Project Status and Delivery Rates - The Guangzhou Yuehai Yun Port City project has completed the filing for all properties on Lot 11, while construction is ongoing for the basement and main structure on Lot 4[9]. - The total area of properties signed in Shenzhen Yuehai City (Northwest Plot) was 114,986 square meters, with a delivery rate of 91.5%[7]. - The Guangzhou Yuehai Shigui Mansion achieved a signing rate of 97.6% for its total area of 2,764 square meters[7]. - The total area of properties signed in Foshan Yuehai Shigui Mansion was 146,382 square meters, with a delivery rate of 70.2%[7]. - The Zhuhai Yuehai Shigui Mansion's first phase has completed the filing, and the main structure of non-first phase properties has been capped[9]. - The total area of properties signed in Jiangmen Yuehai City was 119,334 square meters, with a delivery rate of 89.8%[7]. - The Huizhou Yuehai Shigui Mansion's main structure has been capped, and it is currently undergoing finishing work[9].
粤海置地(00124) - 2025 Q1 - 季度业绩