Financial Performance - Total revenue for the six months ended June 30, 2025, was HKD 129,328,000, a decrease of 75.1% compared to HKD 517,921,000 for the same period in 2024[2] - Gross profit for the period was HKD 46,938,000, compared to a gross loss of HKD 81,263,000 in the previous year[2] - The company reported a loss before tax of HKD 18,082,000, significantly improved from a loss of HKD 217,175,000 in the prior year[2] - Basic and diluted loss per share was HKD 3.10, compared to HKD 34.07 for the same period last year[3] - The total comprehensive loss for the period was HKD 12,752,000, compared to a loss of HKD 225,922,000 in the same period last year[2] - Total revenue for the six months ended June 30, 2025, was HKD 103,181,000, a decrease from HKD 490,994,000 in the same period of 2024, representing a decline of approximately 79%[12] - For the six months ended June 30, 2025, the company reported a loss attributable to shareholders of HKD 19,867,000, compared to a loss of HKD 218,538,000 for the same period in 2024, representing a significant improvement[23] Revenue Breakdown - Revenue from property sales was HKD 87,424,000, a significant decrease from HKD 477,512,000 in the previous year[11] - The property development revenue was HKD 87,424,000 for the six months ended June 30, 2025, down from HKD 477,512,000 in 2024, indicating a decrease of about 82%[13] - The property investment segment generated revenue of HKD 21,077,000, slightly down from HKD 21,628,000 in the previous year, a decrease of approximately 3%[13] - The property management services segment generated revenue of HKD 6,971,000, slightly down from HKD 7,078,000 in the previous year, a decrease of about 1.5%[13] - The city service apartments segment confirmed revenue of approximately HKD 1.7 million for the six months ending June 30, 2025, remaining stable compared to the same period in 2024[52] - The city storage and workspace segment reported revenue of approximately HKD 18.8 million for the six months ending June 30, 2025, showing no significant change from HKD 19.1 million in the same period of 2024[53] - The wine business generated revenue of approximately HKD 9.8 million for the six months ending June 30, 2025, an increase of about HKD 2.5 million compared to HKD 7.3 million for the same period in 2024, primarily due to successful seasonal promotions[58] Assets and Liabilities - Non-current assets totaled HKD 873,446,000 as of June 30, 2025, an increase from HKD 857,758,000 at the end of 2024[4] - Current liabilities decreased to HKD 1,439,877,000 from HKD 1,523,246,000 at the end of 2024[5] - The net asset value was HKD 788,717,000, down from HKD 801,469,000 at the end of 2024[5] - Total assets as of June 30, 2025, were HKD 2,369,428,000, down from HKD 2,476,716,000 at the end of 2024, a decrease of about 4.3%[15] - Total liabilities decreased to HKD 1,580,711,000 as of June 30, 2025, from HKD 1,675,247,000 at the end of 2024, reflecting a reduction of approximately 5.7%[15] - The group's total liabilities decreased from HKD 1,238,678,000 to HKD 1,223,700,000, indicating a reduction in overall financial obligations[38] Financing and Costs - Interest income from bank deposits was HKD 141,000 for the six months ended June 30, 2025, down from HKD 308,000 in 2024, a decline of about 54%[16] - The financing costs totaled HKD 40,080,000 for the six months ended June 30, 2025, compared to HKD 83,366,000 in the same period of 2024, indicating a reduction of approximately 52%[17] - The actual interest rates for fixed-rate borrowings ranged from 4.60% to 6.00% as of June 30, 2025, while floating-rate borrowings ranged from 1.98% to 6.34%[39] - The group’s borrowings totaled HKD 1,223,700,000 as of June 30, 2025, a slight decrease from HKD 1,238,678,000 as of December 31, 2024[38] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[82] - The audit committee, consisting of three independent non-executive directors, has reviewed the company's financial reporting procedures and internal control systems[84] - The company will publish performance announcements and interim reports on the Hong Kong Stock Exchange and its website at appropriate times[85] Market Outlook and Strategy - The group remains optimistic about the property market despite challenges, citing government measures to boost investment and strong demand in the rental market[74] - The group plans to focus on strategic investments and operational excellence to achieve long-term value, while also leveraging technology to enhance customer experience[74] - The group aims to diversify its investment portfolio and explore new markets and asset classes to mitigate risks[75] Employee and Risk Management - As of June 30, 2025, the group employed 116 staff and appointed 7 directors, maintaining competitive salary levels and offering various employee benefits[71] - The group has a robust risk management system in place, with a dedicated risk control committee to address potential risks[73] - The group identified key risks including market risk, business risk, and regulatory risk, which could significantly impact operations and financial conditions[72]
星星集团(01560) - 2025 - 中期业绩