Financial Performance - The company reported an unaudited consolidated net loss of approximately HKD 131 million for the six months ended March 31, 2025, compared to a net loss of HKD 218 million for the same period in 2024[8]. - Excluding non-operating items, the company's unaudited consolidated operating profit was approximately HKD 28 million, an increase from HKD 26.1 million in 2024[9]. - Revenue for the six months ended March 31, 2025, was HKD 85,927,000, an increase of 3.1% compared to HKD 83,355,000 for the same period in 2024[46]. - The loss before tax for the period was HKD 127,009,000, improving from a loss of HKD 214,127,000 in the same period last year, indicating a reduction of 40.7%[46]. - The total comprehensive loss for the period was HKD 137,316,000, compared to HKD 217,444,000 in the previous year, reflecting a decrease of 36.9%[47]. - The group incurred a pre-tax loss of HKD 127,009,000 for the period, compared to a loss of HKD 214,127,000 for the same period in 2024[65]. - Basic loss per share for the six months ended March 31, 2025, was HKD 1.19, compared to HKD 1.98 for the same period in 2024, indicating a 40.0% reduction in loss per share[71]. Revenue and Income Sources - Total revenue for the six months ended March 31, 2025, is HKD 85,927,000, an increase from HKD 83,355,000 for the same period in 2024, representing a growth of 3.1%[65]. - Revenue from sales of goods increased to HKD 23,281,000 from HKD 20,278,000, a growth of 9.9% year-over-year[65]. - Rental income decreased to HKD 51,766,000 from HKD 53,698,000, a decline of 3.6% year-over-year[65]. - Other income and gains decreased to HKD 8,033,000 from HKD 10,440,000, representing a decline of 23.1%[46]. Investment Activities - The company holds a diversified investment portfolio, including a real estate investment trust and three private asset funds, to mitigate risks and create long-term value[15]. - The investment in the TKO Fund amounts to HKD 34.9 million, with an investment valuation of HKD 39.3 million as of March 31, 2025[15]. - The company has fully paid USD 7.5 million for the Adams Street Private Income Fund, with an investment valuation of USD 6.7 million[16]. - The ALPS Private Credit Feeder Fund has a total commitment of USD 5 million, focusing on generating stable income through investments in the global credit market[16]. - The company’s investment activities resulted in a net cash outflow of HKD 36,677,000, compared to HKD 16,167,000 in the previous period[52]. Property and Rental Income - Rental income from residential properties increased by 3.2%, while rental income from commercial and industrial properties decreased by 10.5%[12]. - Rental income from the residential units in Beijing's Chaoyang District decreased by 3.1% compared to the same period last year[19]. - The property investment and management segment reported a loss of HKD 133,518,000, primarily due to a fair value decrease of investment properties amounting to approximately HKD 167,948,000[60]. Financial Position and Liabilities - As of March 31, 2025, the total bank borrowings amounted to HKD 4.158 billion, an increase from HKD 3.740 billion as of September 30, 2024[25]. - The debt-to-equity ratio increased to 9.3% from 8.1% as of September 30, 2024[25]. - The group has not utilized bank credit facilities amounting to HKD 11.245 billion, which will provide sufficient funding for operations and capital expenditures[25]. - Current liabilities increased to HKD 471,888,000 from HKD 430,817,000, an increase of 9.5%[48]. - The company's equity attributable to owners decreased to HKD 4,454,095,000 from HKD 4,623,099,000, a decrease of 3.7%[49]. Corporate Governance - The company has adhered to all corporate governance codes, except for the separation of the roles of Chairman and CEO, which are held by the same individual[33]. - The board will continue to review the effectiveness of the corporate governance structure, including the potential separation of the Chairman and CEO roles[34]. - All directors confirmed compliance with the standard code for securities trading throughout the reporting period[35]. Employee and Management Compensation - The group reported a total of 118 employees as of March 31, 2025, an increase from 115 employees as of September 30, 2024[30]. - The total compensation for key management personnel for the six months ended March 31, 2025, was HKD 4,350,000, up from HKD 4,051,000 for the same period in 2024, reflecting an increase of about 7.4%[90]. - The total short-term employee benefits for key management personnel increased to HKD 4,306,000 for the six months ended March 31, 2025, compared to HKD 4,011,000 for the same period in 2024, marking an increase of approximately 7.3%[90]. Dividends and Shareholder Information - The interim dividend declared is HKD 0.04 per share, consistent with the previous year[10]. - The company declared a final dividend of HKD 0.32 per share for the year ended September 30, 2024, totaling HKD 35,257,000, down from HKD 37,461,000 in the previous year[70]. - The company plans to close the shareholder register from June 10 to June 12, 2025, to ensure shareholders receive the interim dividend[44]. - As of March 31, 2025, the total shareholding of the CEO and directors represents approximately 73.6% of the issued shares[37].
博富临置业(00225) - 2025 - 中期业绩