Financial Performance - The loss attributable to equity holders of the company was HKD 231.9 million, compared to HKD 292.8 million in 2024[4]. - Revenue from continuing operations for the six months ended September 30, 2025, was HKD 5,175,118, an increase from HKD 87,305 in the same period of 2024[5]. - Gross profit for the six months was HKD 72,373, up from HKD 19,350 in 2024, reflecting a strong improvement in profitability[5]. - Operating loss for the period was HKD (199,947), an improvement from HKD (313,505) in the previous year, showing a reduction in operational losses[5]. - Loss before tax was HKD (261,690), improved from HKD (383,864) in the same period last year, suggesting a positive trend in financial performance[5]. - Total comprehensive loss for the period was HKD (261,701), compared to HKD (361,973) in the previous year, reflecting overall better financial health[5]. - The company reported a loss of HKD 261,701 thousand for the six months ending September 30, 2025, compared to a loss of HKD 361,973 thousand in the same period of 2024, representing a 27.7% improvement[6]. - Total comprehensive loss for the period amounted to HKD 218,186 thousand, down from HKD 280,540 thousand year-over-year, indicating a 22.2% reduction[6]. Revenue and Sales - For the Duck Tongue Island project, 42 out of 105 residential units have been sold, generating total sales of approximately HKD 215 million, with 10 units recognized as revenue in the previous fiscal year amounting to about HKD 43.7 million[3]. - An additional 16 units were delivered and recognized as revenue during the period, contributing sales of HKD 83.1 million, with an estimated sales of HKD 88.2 million expected from the remaining 16 units in the second half of the fiscal year[3]. - Revenue from customer contracts recognized at a point in time was HKD 98,567,000, while revenue recognized over time was HKD 6,264,000, totaling HKD 175,118,000 for the year 2025[24]. - The group's revenue for 2025 is projected to be HKD 175,118,000, while the revenue for 2024 was HKD 87,305,000, indicating a significant increase[26]. - Property sales revenue reached HKD 98.6 million, while rental income and other revenues amounted to HKD 67.8 million, compared to HKD 74.1 million in 2024[49]. Assets and Liabilities - The company's total assets, net of current liabilities, were HKD 10,273,914 thousand, down from HKD 10,761,512 thousand, a decrease of 4.5%[7]. - Non-current assets decreased to HKD 7,638,975 thousand as of September 30, 2025, from HKD 8,448,199 thousand as of March 31, 2025, reflecting a decline of 9.6%[7]. - The company’s total liabilities decreased to HKD 1,305,215 thousand from HKD 1,475,507 thousand, a reduction of 11.5%[7]. - The company's total liabilities, including non-current liabilities, were HKD 10,273,914, down from HKD 10,761,512, indicating a reduction of about 4.53%[8]. - The company’s long-term bank borrowings were HKD 2,361,004,000 as of September 30, 2025, compared to HKD 2,739,524,000 as of March 31, 2025[44]. Cash Flow and Financing - The group's total cash reserves, including bonds and securities investments, amount to HKD 1.9 billion, with cash and bank deposits totaling approximately HKD 1.8 billion[4]. - The net debt to equity ratio improved to 7.6%[4]. - Financing costs decreased to HKD (40,648) from HKD (73,068), indicating better management of financial expenses[5]. - The company has completed the development of 5,485 burial plots and a tower providing 550 niches in the first phase of the Jufu Bao Huachiao Cemetery project[72]. Investments and Projects - The group has begun preliminary assessments of the adoption of new accounting standards and interpretations, expecting no significant impact on its performance and financial position[16]. - The company is exploring various options, including sales, to accelerate capital returns from the project at 28 Po Shan Road[61]. - The company plans to continue promoting remaining shop and parking spaces in its investment property in Tuen Mun, generating annual rental income of approximately HKD 2.4 million[64]. - The estimated value of the group's investment property in Anshan, Liaoning Province, is approximately RMB 307.8 million (equivalent to about HKD 336 million)[65]. Corporate Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[12]. - The company has established an audit committee to oversee financial reporting procedures, risk management, and internal controls, ensuring compliance with relevant requirements[88]. - The company confirms adherence to the corporate governance code and has received confirmation from all directors regarding compliance with the standards for securities trading[89]. Market Outlook and Strategy - The company maintains an optimistic outlook on the Hong Kong property market and overall economy, citing a gradual recovery in buyer confidence as interest rates continue to decline[83]. - The company aims to seek opportunities to invest in core properties while divesting non-core assets to improve financial resources and expand land reserves in Hong Kong, particularly in the luxury and affordable housing markets[84].
庄士机构国际(00367) - 2026 - 中期业绩