Financial Performance - Revenue for the six months ended September 30, 2025, increased to HKD 285,179,000, up 13.4% from HKD 251,421,000 in 2024[4] - Gross profit for the same period rose to HKD 65,436,000, representing a 12.5% increase compared to HKD 58,241,000 in 2024[4] - Net profit attributable to shareholders for the six months was HKD 23,562,000, an increase of 10.4% from HKD 21,335,000 in 2024[5] - Basic and diluted earnings per share increased to HKD 2.57 cents, up from HKD 2.33 cents in the previous year, reflecting a growth of 10.3%[5] - Total comprehensive income for the period was HKD 45,967,000, compared to HKD 24,303,000 in 2024, marking an increase of 89.1%[7] - The profit before tax for the six months ended September 30, 2025, was HKD 20,264,000, compared to HKD 21,335,000 for the same period in 2024, reflecting a decrease of 5%[18] - The company reported a net profit of HKD 21,335,000 for the six months ended September 30, 2025, up from HKD 21,335,000 in the previous year[18] - Earnings per share for the six months ended September 30, 2025, was HKD 0.0257, compared to HKD 0.0233 for the same period in 2024, representing an increase of 10.3%[22] Assets and Liabilities - Non-current assets as of September 30, 2025, totaled HKD 3,996,751,000, an increase from HKD 3,896,978,000 as of March 31, 2025[8] - Current liabilities decreased to HKD 4,502,427,000 from HKD 5,064,832,000, indicating improved liquidity[9] - As of September 30, 2025, the total borrowings of the group amounted to approximately HKD 5,425,000,000, with a capital-to-debt ratio of 0.89, up from 0.69 as of March 31, 2025[34] - The group's cash and bank balances totaled approximately HKD 415,000,000 as of September 30, 2025, down from HKD 534,000,000 as of March 31, 2025[34] Investment Properties - Investment properties' fair value increased by HKD 89,222,000, down from HKD 103,196,000 in the previous year[4] - The company’s investment properties had a fair value of HKD 3,398,357,000 as of September 30, 2025, compared to HKD 5,059,548,000 as of April 1, 2024[23] - The group holds 100% equity in several commercial properties, including The Putman and 99 Bonham, all located in Hong Kong[46] - The group has 100% equity in residential properties, including 43 remaining residential units in Phase III at 88 Queen Street East, Toronto, Ontario, Canada[47] - The group has a total of 3,197 square meters of residential space and 37,357 square meters of office space under development at 88 Queen Street East, with completion expected in 2025[48] Income and Expenses - The company’s bank interest income decreased to HKD 5,085,000 for the six months ended September 30, 2025, down from HKD 8,541,000 in 2024, a decline of 40.5%[15] - The total interest expense for the six months ended September 30, 2025, was HKD 136,343,000, down from HKD 171,874,000 in 2024, a reduction of 20.6%[17] - Employee costs for the period were approximately HKD 40,000,000, down from HKD 46,000,000 for the same period last year[38] Dividends - The company declared a final dividend of HKD 0.005 per share for the six months ended September 30, 2025, down from HKD 0.012 per share in 2024[23] - The group did not declare any interim dividend for the six months ended September 30, 2025, consistent with the previous year[30] Business Operations - The company continues to focus on expanding its residential and commercial property development segments, contributing to overall revenue growth[12] - Revenue from Hong Kong and China increased to HKD 281,447,000 for the six months ended September 30, 2025, compared to HKD 244,141,000 in 2024, an increase of 15.3%[14] - The company reported miscellaneous income of HKD 5,691,000 for the six months ended September 30, 2025, significantly up from HKD 1,482,000 in 2024, an increase of 284.5%[15] - The luxury residential project at 1 South Bay Avenue, Hong Kong, has completed further enhancements, including external decoration and landscaping[32] - The mixed-use project at 88 Queen Street East, Toronto, is nearing completion of temporary occupancy, with residential apartment registration completed on October 6, 2025[33] - The group is closely monitoring the impact of tariff disputes between the US and China, as well as the EU and Japan, on international trade, which may affect its watch manufacturing and trading segment[33] Inventory and Development - The group is improving demonstration units at 1 South Bay Avenue, Hong Kong, with completion anticipated shortly in 2025[48] - The group has unsold property inventory of 445.09 square meters at 45 Tai Tam Road, with a 50% equity stake in the joint venture[49] - The joint venture's equity value represents 2.93% of the group's total assets as of September 30, 2025[49]
NATIONAL ELEC H(00213) - 2026 - 中期业绩