Financial Performance - The Group reported a significant increase in gross profit to HK$1,842,309,000 for the first half of 2025, compared to HK$106,468,000 in 2024, primarily due to the sale proceeds from the first phase of Tomson Foresta[10]. - Consolidated profit after taxation attributable to shareholders reached HK$782,191,000, a 6.55 times increase from HK$103,669,000 in the same period of 2024[11]. - Basic earnings per share increased to 35.96 HK cents, up from 5.03 HK cents in 2024[11]. - Total revenue for the six months ended June 30, 2025, reached HK$2,641,505,000, a significant increase of 1,943% compared to HK$129,565 in 2024[128]. - Gross profit for the same period was HK$1,842,309, representing a 1,634% increase from HK$106,468 in 2024[128]. - Profit for the period was HK$780,882, up 661% from HK$102,631 in 2024[130]. - Total comprehensive income for the period was HK$1,134,672, compared to a loss of HK$188,396 in 2024[130]. Property Development and Investment - The property development and trading segment generated a profit of HK$1,630,223,000, recovering from a loss of HK$28,248,000 in 2024[13]. - The property investment segment contributed a profit of HK$80,239,000, down from HK$93,979,000 in 2024[14]. - Total segment profit from property development and investment was HK$1,710,462,000, compared to HK$65,731,000 in 2024[21]. - Revenue from the property segment amounted to HK$2,615,311,000, accounting for approximately 98.88% of the Group's gross proceeds[22]. - The first phase of Tomson Foresta recognized total revenue of HK$2,512.06 million, representing about 94.98% of the Group's gross proceeds[24]. - Pre-sale proceeds for the second phase of Tomson Foresta reached HK$4,270.36 million, with 143 residential units contracted for sale[25]. - The property development and investment segment contributed a total profit of HK$1,710,462,000 for the six months ending June 30, 2025, compared to HK$65,731,000 in 2024[28]. Cash Flow and Financial Position - As of June 30, 2025, the Group's cash and cash equivalents amounted to HK$1,613,777,000, a decrease of approximately 57.67% from the previous year[66]. - The Group recorded a net cash outflow of HK$848,198,000 from operating activities during the period, primarily due to tax payments and construction costs[66]. - As of June 30, 2025, the Group's total liabilities were HK$4,023,286,000, with approximately 36.51% being borrowings[68]. - The Group's commitments for property development expenditures were HK$2,531,687,000, an increase from HK$2,123,477,000 as of December 31, 2024[70]. - The current ratio improved to 1.79 times from 1.63 times, while the gearing ratio decreased to 67.63% from 74.41%[71]. - Cash and cash equivalents decreased by approximately 57.67% to HK$1,613,777,000 from HK$3,812,642,000[72]. Shareholder Information - Madam Hsu Feng held a total of 971,008,239 shares in the company, representing 42.983% of the total issued shares[96]. - Mr. Albert Tong owned 351,071,985 shares, accounting for 15.541% of the total issued shares[97]. - Mr. Tong Chi Kar Charles held 357,942,326 shares, which is 15.845% of the total issued shares[97]. - King China Holdings Limited owned 308,801,419 shares, representing 13.670% of the total issued shares[103]. - E-Shares Investments Limited held 213,558,771 shares, which is 9.453% of the total issued shares[104]. - Step Famous Investment Limited owned 145,889,287 shares, accounting for 6.458% of the total issued shares[104]. Corporate Governance - The Board has complied with all applicable code provisions of the Corporate Governance Code, except for the dual role of Madam Hsu Feng as both Chairman and Managing Director[117]. - The Audit Committee consists of three independent non-executive Directors, with Mr. Cheung Siu Ping acting as the chairman[121]. - There were no changes in the information regarding the Directors of the Company since the publication of the Annual Report 2024[126]. Future Outlook - The Group remains cautiously optimistic about the long-term economic development in Mainland China despite high interest rates and subdued market sentiment[79]. - Tomson Foresta is expected to be the principal source of profit for the Group in 2025 and a major contributor in the following years[79]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[135]. - Future guidance suggests a focus on enhancing operational efficiency and exploring potential mergers and acquisitions[135].
汤臣集团(00258) - 2025 - 中期财报