Financial Performance - The group's consolidated revenue for the nine months ended September 30, 2025, was approximately HKD 6.73 billion, an increase of 66.4% compared to HKD 4.04 billion for the same period in 2024[5] - Gross profit for the same period was HKD 2.40 billion, reflecting a significant increase of 1,000.6% from HKD 217.83 million in 2024[4] - The group recorded a loss attributable to shareholders of approximately HKD 16.17 million, a decrease of 91.5% compared to a loss of HKD 190.72 million in the previous year[5] Asset and Inventory Management - Total asset value as of September 30, 2025, was HKD 35.40 billion, down 12.7% from HKD 40.56 billion as of December 31, 2024[4] - The group recognized an inventory impairment provision of approximately HKD 1.10 billion during the review period, compared to none in the same period last year[6] - The fair value loss on investment properties (net of deferred tax) was approximately HKD 99.12 million, compared to HKD 25.83 million in the previous year[6] - As of September 30, 2025, the group held completed unsold properties valued at approximately HKD 11.653 billion, down from HKD 12.849 billion as of December 31, 2024[11] - The value of properties under development was approximately HKD 10.005 billion, a decrease from HKD 13.147 billion as of December 31, 2024[11] - The total value of completed and under development properties was approximately HKD 21.658 billion, down from HKD 25.996 billion as of December 31, 2024[11] - The sales amount for properties that have been signed and paid for but not yet delivered was approximately HKD 6.510 billion, down from HKD 9.386 billion as of December 31, 2024[11] Project Development and Delivery - The group delivered properties primarily from the Guangzhou Yuehai Yun Port City project, which had a higher gross profit margin, contributing to increased sales profits compared to 2024[6] - The total signed floor area for properties during the review period was approximately 168,000 square meters, compared to 212,000 square meters for the nine months ending September 30, 2024[9] - The total delivered floor area for properties was approximately 214,000 square meters, slightly up from 210,000 square meters for the nine months ending September 30, 2024[9] - The construction status of various projects indicates that significant progress has been made, with several properties in Guangzhou and Zhuhai having completed their main structure[10] - The company is actively developing new projects, with several sites in Jiangmen and Foshan awaiting further development[10] Future Outlook and Governance - The group has ongoing projects in various cities, including Guangzhou, Shenzhen, and Foshan, with significant total floor areas under development[7] - The group plans to continue expanding its market presence with new projects and developments scheduled for completion in the coming years[7] - The net asset value per share as of September 30, 2025, was HKD 2.10, a slight increase of 1.0% from HKD 2.08 as of December 31, 2024[4] - The company emphasizes caution regarding the financial data presented, which has not been audited or reviewed by external auditors[12] - The board of directors consists of a mix of executive and independent directors, ensuring diverse oversight and governance[13]
粤海置地(00124) - 2025 Q3 - 季度业绩