香港华人有限公司(00655) - 2025 - 中期业绩

Overview of Interim Results The group's condensed consolidated financial statements highlight significant improvements in profitability and overall financial health Condensed Consolidated Statement of Profit or Loss The Group achieved a HK$199,650 thousand profit in H1 2025, a significant turnaround from a prior year loss | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 37,546 | 36,177 | 1,369 | 3.78% | | Gross Profit | 36,325 | 34,974 | 1,351 | 3.86% | | Profit/(Loss) Before Tax | 202,092 | (418,967) | 621,059 | 148.24% | | Profit/(Loss) for the Period | 199,650 | (421,967) | 621,617 | 147.32% | | Basic and Diluted Earnings/(Loss) Per Share Attributable to Owners of the Company | 10.0 HK cents | (21.1) HK cents | 31.1 HK cents | 147.39% | - Profit for the period turned from a loss of HK$421,967 thousand in the prior year to a profit of HK$199,650 thousand in 2025, primarily due to a significant improvement in the share of results of joint ventures[3] Condensed Consolidated Statement of Comprehensive Income The Group reported HK$771,813 thousand total comprehensive income for H1 2025, reversing a prior year loss | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Profit/(Loss) for the Period | 199,650 | (421,967) | 621,617 | 147.32% | | Exchange differences on translation of foreign operations | 33,071 | (13,274) | 46,345 | 349.14% | | Exchange differences on translation of foreign operations of joint ventures | 606,283 | (357,790) | 964,073 | 269.46% | | Total Comprehensive Income/(Loss) for the Period | 771,813 | (879,529) | 1,651,342 | 187.75% | - In the first half of 2025, the Group's total comprehensive income shifted from a loss to a significant profit, mainly due to substantial positive contributions from exchange differences on translation of foreign operations and exchange differences on translation of foreign operations of joint ventures[4] Condensed Consolidated Statement of Financial Position Total assets increased to HK$10,370,002 thousand as of June 30, 2025, primarily due to interests in joint ventures | Indicator | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Interests in Joint Ventures | 9,707,387 | 8,926,365 | 781,022 | 8.75% | | Total Non-current Assets | 10,181,595 | 9,361,021 | 820,574 | 8.77% | | Net Current Assets | 138,627 | 133,540 | 5,087 | 3.81% | | Total Assets Less Current Liabilities | 10,320,222 | 9,494,561 | 825,661 | 8.70% | | Total Equity | 9,775,611 | 8,982,144 | 793,467 | 8.83% | - Interests in joint ventures constitute the primary component of the Group's non-current assets, accounting for over 95% of total non-current assets, and their growth is the main driver for the increase in total assets and equity[5] Notes to the Condensed Consolidated Interim Financial Report Detailed notes cover basis of preparation, segment information, revenue, profit before tax, joint venture results, income tax, EPS, and other financial items 1. Basis of Preparation The interim results are prepared in accordance with HKAS 34 and Listing Rules disclosure requirements, reviewed by the Audit Committee, with no significant financial impact from newly adopted HKAS 21 amendments - These interim results are prepared in accordance with HKAS 34 and the disclosure requirements of the Listing Rules, and have been reviewed by the Audit Committee[6] - The initial adoption of the revised HKAS 21 'Lack of Exchangeability' has no significant financial impact on these interim results[6] 2. Segment Information The Group's operations are categorized into five segments: property investment, property development, financial investment, securities investment, and others, with management assessing performance based on segment results including joint ventures and associates - The Group's operating segments include property investment, property development, financial investment, securities investment, and others[10] - Segment performance assessment includes the results of the Company and its subsidiaries, as well as the share of results of associates and joint ventures[7] Description of Segment Operations This section outlines the primary activities for each of the Group's operating segments, including property investment, property development, financial investment, and securities investment - The property investment segment includes investments in properties for rental and resale[10] - The property development segment includes the development and sale of properties[10] - The financial investment segment includes investments in the money market, while the securities investment segment includes investments in securities held for trading and long-term strategic purposes[10] Segment Performance Analysis This analysis details the revenue and segment results for each business segment, highlighting the significant turnaround in joint venture performance as a key driver for the Group's overall profitability | Segment | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2025 Segment Results (HK$ thousand) | 2024 Segment Results (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Property Investment | 34,748 | 34,681 | 19,410 | 16,328 | | Property Development | - | - | (1,743) | (1,954) | | Financial Investment | 2,553 | 1,285 | 2,553 | 1,285 | | Securities Investment | 24 | - | 661 | (80) | | Others | 221 | 211 | (222) | (1,189) | | Consolidated | 37,546 | 36,177 | 20,659 | 14,390 | - The share of results of joint ventures significantly improved from a loss of HK$432,682 thousand in the prior year to a profit of HK$189,095 thousand in 2025, a critical factor in the Group's turnaround to profit before tax[11] Segment Assets and Liabilities This section provides a breakdown of segment assets and liabilities, emphasizing the substantial contribution of interests in joint ventures to the Group's total asset base | Indicator | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Segment Assets | 327,569 | 312,808 | 14,761 | 4.72% | | Interests in Joint Ventures | 9,707,387 | 8,926,365 | 781,022 | 8.75% | | Total Assets | 10,370,002 | 9,545,440 | 824,562 | 8.64% | | Total Liabilities | 594,391 | 563,296 | 31,095 | 5.52% | - Interests in joint ventures are a major component of the Group's total assets, accounting for 93.6% of total assets as of June 30, 2025[12] 3. Revenue Total revenue for the first half