永义国际(01218) - 2026 - 中期业绩

Financial Performance - For the six months ending September 30, 2025, the company reported a revenue of HKD 79,199,000, a decrease of 65.5% compared to HKD 229,885,000 in the same period of 2024[3] - Gross profit for the same period was HKD 1,188,000, down 79.8% from HKD 5,888,000, resulting in a gross margin of 1.5%, down from 2.6%[3] - The company recorded a loss attributable to shareholders of HKD (109,293,000) for the six months, compared to a profit of HKD 24,334,000 in the previous year[3] - The company reported a significant decrease in property sales revenue, which fell to HKD 65,082,000 from HKD 219,199,000, a decline of 70.3%[4] - The total comprehensive expenses attributable to owners of the company from continuing operations were HKD 108,998,000 for the current period, compared to a gain of HKD 62,861,000 in the previous year[7] - The total loss from continuing operations before tax for the same period was HKD 109,615,000, with financing costs amounting to HKD 23,701,000[16] - The total loss from continuing operations before tax for the six months ending September 30, 2025, was HKD 22,787,000, indicating a significant improvement compared to the previous period[17] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 3,244,372,000, a decrease of 2.6% from HKD 3,329,958,000 as of March 31, 2025[3] - Total liabilities increased by 1.5% to HKD 1,626,813,000 from HKD 1,603,393,000[3] - The net asset value decreased by 6.3% to HKD 1,617,559,000 from HKD 1,726,565,000[3] - Non-current assets decreased to HKD 1,256,059,000 as of September 30, 2025, from HKD 1,297,887,000 as of March 31, 2025[8] - Current assets increased to HKD 1,988,313,000 as of September 30, 2025, compared to HKD 2,032,071,000 as of March 31, 2025[8] - Current liabilities totaled HKD 1,464,441,000 as of September 30, 2025, slightly up from HKD 1,440,490,000 as of March 31, 2025[9] - The company's net current assets decreased to HKD 523,872,000 as of September 30, 2025, from HKD 591,581,000 as of March 31, 2025[9] - Total assets less current liabilities amounted to HKD 1,779,931,000 as of September 30, 2025, down from HKD 1,889,468,000 as of March 31, 2025[9] Shareholder Information - Basic loss per share for the period was HKD (1.48), compared to HKD (9.59) in the previous year, reflecting an 84.6% increase in loss per share[3] - The company reported no dividends declared or proposed for the interim periods[22] - The basic and diluted loss per share from continuing operations for the six months ending September 30, 2025, was HKD (1.48), compared to HKD 0.33 for the same period in 2024[23] Operational Highlights - The company experienced a loss from investment properties' fair value changes amounting to HKD (11,500,000), compared to a loss of HKD (530,000) in the previous year[4] - Administrative expenses decreased to HKD 21,822,000 from HKD 26,679,000, a reduction of 18.5%[4] - The group reported a loss of approximately HKD 18,061,000 from the securities and other investments segment, compared to a loss of approximately HKD 30,755,000 for the 2024 period[42] - The group reported a loss of approximately HKD 1,906,000 from the loan financing segment, significantly improved from a loss of about HKD 9,164,000 in the previous period[47] Market and Economic Conditions - The geopolitical tensions, high interest rates, and low growth in local GDP are impacting the Hong Kong economy and property market, prompting the government to lift property sale restrictions to stabilize the market[83] - The retail market in Hong Kong is expected to recover with the resurgence of tourism, although challenges remain due to changing consumer patterns and competition from neighboring regions[84] Corporate Governance - The company has fully complied with the corporate governance code, with no significant deviations reported during the period[86] - The board believes that the current structure of having the same person serve as both Chairman and CEO is appropriate for the company's leadership and long-term strategic planning[87] - The company has not established an internal audit function, as the board believes existing risk management and internal control procedures are sufficient for current business needs[88] - All directors confirmed adherence to the standard code of conduct for securities trading during the period[89] Employee Information - As of September 30, 2025, the group had a total of 20 employees, an increase from 18 employees as of March 31, 2025[85] - Employee costs related to ongoing business operations were approximately HKD 12,121,000, compared to approximately HKD 13,309,000 in the previous period[85]