Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 17,185,000, a decrease of 7.44% compared to HKD 18,566,000 for the same period in 2024[3] - Gross profit for the same period was HKD 14,090,000, down 8.99% from HKD 15,481,000 in 2024[3] - Loss before tax improved significantly to HKD 21,988,000, a reduction of 58.99% from HKD 53,618,000 in the previous year[3] - Profit attributable to the owners of the company, excluding fair value changes of investment properties, was HKD 8,039,000, down 20.24% from HKD 10,079,000 in 2024[3] - The company reported a net loss of HKD 23,271,000 for the six months ended June 30, 2025[22] - For the six months ended June 30, 2025, the company recorded a loss of approximately HKD 23.3 million, compared to a loss of HKD 55.2 million for the same period in 2024[39] - The fair value loss of investment properties for the six months ended June 30, 2025, was approximately HKD 31.3 million, down from HKD 65.3 million in 2024[39] - Basic loss per share for the six months ended June 30, 2025, was HKD 3.23, compared to HKD 7.67 in 2024[6] - Basic loss per share was HKD 0.0323, an improvement from a loss of HKD 0.0767 per share in 2024[47] Assets and Liabilities - Total assets as of June 30, 2025, were HKD 1,128,206,000, compared to HKD 1,152,038,000 as of December 31, 2024[7] - Non-current assets, primarily investment properties, decreased to HKD 1,052,750,000 from HKD 1,084,060,000[7] - Current assets increased to HKD 65,350,000 from HKD 57,794,000, with cash and bank balances rising to HKD 62,864,000 from HKD 53,171,000[7] - Total liabilities decreased slightly to HKD 19,781,000 from HKD 20,342,000[8] - The total assets as of June 30, 2025, amounted to HKD 1,128,206,000, with total liabilities of HKD 19,781,000[23] - The total assets as of December 31, 2024, amounted to HKD 1,152.038 million, with total liabilities of HKD 20.342 million[25] - As of June 30, 2025, accounts receivable amounted to HKD 878,000, an increase from HKD 587,000 as of December 31, 2024[35] Revenue Sources - Office property rental income decreased to HKD 8,566,000 from HKD 9,524,000, a decline of 10.1%[22] - Retail property rental income decreased to HKD 6,274,000 from HKD 6,604,000, a decline of 5.0%[22] - Property management fee income increased to HKD 7,044,000 from HKD 6,569,000, an increase of 7.2%[22] - Rental income for the six months ended June 30, 2025, was approximately HKD 14.8 million, a decrease from HKD 16.1 million in 2024, with office rental contributing about 58.1% and retail rental about 41.9%[40] - Property management fee income for the same period was approximately HKD 2.3 million, representing about 13.6% of total revenue, compared to 13.1% in 2024[40] Strategic Outlook - The company continues to evaluate new strategies and potential market expansions to enhance future performance[4] - The company is focusing on property investment and management in core areas, particularly office and retail properties, despite a challenging market environment[45] - The company aims to enhance the value of its core office and retail property portfolio through active management and strategic upgrades[45] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its relevant provisions as of June 30, 2025[60] - The audit committee has reviewed the unaudited interim consolidated financial information for the six months ended June 30, 2025[62] - The interim results have been reviewed by the company's auditors in accordance with the relevant Hong Kong standards[63] Other Information - The company has not acquired any investment properties or property, plant, and equipment during the six months ended June 30, 2025[21] - The company expects that the adoption of new accounting standards will not have a significant impact on its financial position and operating performance[14] - The company’s management is evaluating the potential impact of new accounting standards and amendments[14] - The company did not declare or pay any dividends for the six months ended June 30, 2025[31] - The company has extended the maturity date of its unsecured revolving loan facility to January 2, 2026, to support its property investment activities[41] - The company has no borrowings as of June 30, 2025, resulting in no calculation of debt-to-equity ratio[48] - The company has no significant contingent liabilities, capital commitments, or major investments as of June 30, 2025[52][53][54] - The company has 17 full-time employees as of June 30, 2025, with employee benefit expenses amounting to approximately HKD 4.2 million[58] - No significant acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the six months ended June 30, 2025[59] - No purchases, sales, or redemptions of the company's listed securities took place during the six months ended June 30, 2025[61]
晋安实业(02292) - 2025 - 中期业绩