HKR INT'L(HK:00480)2025-12-08 09:22Financial Performance - The group's revenue for the six months ended September 30, 2025, was HKD 1,925.5 million, a 125.9% increase from HKD 852.5 million in the same period last year, primarily due to the completion of new projects in mainland China generating sales revenue of HKD 1,125.8 million[11]. - The group recorded a basic loss attributable to shareholders of HKD 478.6 million, a slight increase of HKD 4.3 million compared to a loss of HKD 474.3 million in the same period last year[11]. - Revenue for the six months ended September 30, 2025, was HKD 1,925.5 million, a significant increase of 126.5% compared to HKD 852.5 million in the same period of 2024[87]. - Gross profit for the same period was HKD 364.3 million, up 21.7% from HKD 299.4 million year-on-year[87]. - The company reported a loss before tax of HKD 454.5 million, a slight improvement from a loss of HKD 490.3 million in the previous year[87]. - Total comprehensive loss for the period was HKD 307.8 million, compared to HKD 220.1 million in the same period last year[88]. - The group's attributable loss for the period was HKD 478.6 million, compared to a loss of HKD 474.3 million in the previous year, indicating a slight increase in losses[106]. - The company reported a basic and diluted loss per share of HKD 32.2, compared to HKD 31.9 in the previous year[87]. - The company reported a total comprehensive loss of HKD (266.8) million for the period, reflecting the impact of market conditions on financial performance[93]. Assets and Liabilities - The total assets of the group as of September 30, 2025, were HKD 43,264.0 million, compared to HKD 43,029.2 million as of March 31, 2024[8]. - The group’s total liabilities increased to HKD 18,290.1 million from HKD 17,097.1 million as of March 31, 2024[8]. - As of September 30, 2025, the company's non-current liabilities totaled HKD 11,360.6 million, a decrease from HKD 13,090.3 million as of March 31, 2025, representing a reduction of approximately 13.2%[91]. - The company's total equity attributable to owners was HKD 22,210.9 million as of September 30, 2025, down from HKD 22,475.9 million as of March 31, 2025, indicating a decline of about 1.2%[91]. - The company's total assets were reported at HKD 24,973.9 million as of September 30, 2025, compared to HKD 25,279.9 million as of March 31, 2025, reflecting a decrease of approximately 1.2%[91]. - The net debt as of September 30, 2025, was HKD 10,721.8 million, compared to HKD 10,141.3 million as of March 31, 2025[42]. - The capital debt ratio as of September 30, 2025, was 48.3%, an increase from 45.1% as of March 31, 2025[45]. Property Development and Sales - The flagship project, Discovery Bay, continues to advance the "Discovery Bay 2.0 Blueprint," which will add over 1.3 million square feet of gross floor area and provide over 1,400 residential units[14]. - The luxury residential project Linhai Mountain City in Tai Po continues to see robust local demand, with significant interest from mainland and overseas buyers[16]. - The total number of units for the residential project Yu Jing Wan Yi Ti is 196, with all units sold, generating sales revenue of HKD 34 million during the period[17]. - For the residential project Yu Jing Wan Yi Feng, 11 out of 21 garden houses have been sold, resulting in sales revenue of HKD 49 million[17]. - The residential project Tai Po Lin Hai Shan Cheng has 262 units, with 139 sold, contributing sales revenue of HKD 815 million during the period[17]. - The total cumulative sales revenue for the Hangzhou low-density residential project Ou Xian Li is approximately RMB 216 million, with all units sold starting occupancy in April 2024[20]. - The Shanghai low-density residential project Xing Yun Jian has cumulative sales revenue of approximately RMB 1,238 million, with all sold units delivered by August 2025[20]. - The property development segment generated revenue of HKD 1,273.5 million, compared to HKD 187.1 million in the previous year, indicating a growth of about 581.5%[104]. Investment and Financial Management - The average financing cost for the period was 3.5%, down from 5.7% in the same period last year[47]. - The company engaged in significant investment activities, with net cash outflow from investment activities amounting to HKD (70.7) million, compared to HKD (59.6) million in the previous year[98]. - The company reported a foreign exchange gain of HKD 87.4 million from joint ventures during the period, contributing positively to other comprehensive income[93]. - The company recognized a total comprehensive loss of HKD (266.8) million for the period, reflecting the impact of market conditions on financial performance[93]. - The company has provided an unsecured and interest-free loan of HKD 4,440.3 million to the Dazhongli Group for development expenses, holding a 50% interest in the group[76]. - The group has also provided a loan of HKD 2,040.9 million to the joint venture company, Jiafeng, for residential property development, with HKD 69.1 million allocated for operating capital[73]. Operational Developments - The group plans to upgrade the Discovery Bay Golf Club and the waterfront clubhouse, with major construction expected to commence in Q4 2025[15]. - The group has successfully hosted several large-scale events, including the largest beach music festival in Hong Kong, enhancing community engagement and vibrancy[15]. - The group plans to introduce new electric buses and has initiated a pilot for autonomous buses, expected to be operational by Q1 2026[25]. - The group has implemented strict cost control measures and streamlined operations to enhance resilience and operational efficiency in response to market changes[35]. Shareholder Information - The largest shareholder, CCM Trust (Cayman) Limited, holds 715,617,969 shares, representing 48.17% of the issued share capital[61]. - The total number of share options available for issuance under the 2021 plan is 148,530,180 shares, accounting for 10% of the company's issued share capital as of November 19, 2025[56]. - The company has not granted or exercised any share options under the 2011 plan during the period, with 220,000 options lapsing[58]. - The company has a total of 1,485,301,803 shares issued as of the mid-term report date[57].