Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 18.9 million, an increase of 60.17% compared to HKD 11.8 million for the same period in 2024[7] - Gross profit decreased to HKD 0.4 million, down 83.33% from HKD 2.4 million year-on-year[7] - Operating loss for the period was HKD 8.4 million, compared to an operating profit of HKD 8.9 million in the previous year[7] - Net profit attributable to equity holders was HKD 25.8 million, a decrease of 29.41% from HKD 36.6 million in the same period last year[7] - Basic and diluted earnings per share were 4.2 cents, down from 5.9 cents year-on-year[7] - The company reported a total comprehensive income of HKD 25.8 million for the period, down from HKD 34.0 million in the previous year[8] - The gross income from property sales was HKD 11.6 million for the six months ended September 30, 2025, compared to HKD 0 for the same period in 2024[15] - The company reported a profit attributable to equity holders of HKD 25.8 million for the six months ended September 30, 2025, down from HKD 36.6 million in 2024, reflecting a decrease of 29.32%[26] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 6,276.1 million, a slight decrease from HKD 6,370.0 million as of March 31, 2025[9] - Total assets as of September 30, 2025, amounted to HKD 6,614.8 million, a decrease from HKD 6,681.1 million as of March 31, 2025[18] - The company’s total liabilities were HKD 309.9 million as of September 30, 2025, compared to HKD 328.1 million as of March 31, 2025, indicating a reduction of 5.67%[18] - The total assets less current liabilities amounted to HKD 9,187.6 million as of September 30, 2025, slightly down from HKD 9,212.6 million as of March 31, 2025[43] - The group’s current assets were reported at HKD 6,276.1 million as of September 30, 2025, compared to HKD 6,370.0 million as of March 31, 2025[43] - The group’s liabilities decreased to HKD 289.5 million in current liabilities as of September 30, 2025, from HKD 323.9 million as of March 31, 2025[43] Cash Flow - Cash and cash equivalents decreased to HKD 603.7 million from HKD 1,004.1 million year-on-year[11] - The net cash outflow from operating activities was HKD 170.6 million, compared to HKD 122.7 million in the prior year[11] - The company has a strong balance sheet with a net cash position of HKD 632.8 million as of September 30, 2025, down from HKD 859.1 million on March 31, 2025, with all loans due within one year[48] Dividends - The company plans to maintain an interim dividend of HKD 0.12 per share, consistent with the previous year[7] - The group announced an interim dividend of HKD 0.12 per share, consistent with the dividend from the same period last year[39] Investments and Projects - The group is progressing with the development of the "Jing Nan" project in Ap Lei Chau, which has received occupancy permits and is preparing for sales[44] - The group’s investment in the Sheraton Hotel in Hong Kong is accounted for using the equity method, with improvements in hotel performance partially offsetting declines in interest income[41] - The Hong Kong Sheraton Hotel, owned 35% by the company, has maintained a strong market reputation with high occupancy rates as group and business travelers return, contributing to significant growth in inbound tourist numbers expected by 2025[45] - The company is implementing new tourism strategies targeting high-end travelers, including yacht, horse racing, cruise, and eco-tourism experiences[45] - The company has announced a series of investment stimulus measures aimed at enhancing demand for high-end residential properties, including lowering the transaction price threshold for the "New Capital Investor Scheme" from HKD 50 million to HKD 30 million[46] Economic Outlook - The local economy is showing positive momentum, with a steady increase in inbound travelers and major events expected to support recovery through the remainder of this year and into 2026[46] - The luxury residential market in Hong Kong is showing signs of optimism, with record transactions in August 2025, indicating potential growth in the super luxury segment[46] Governance and Compliance - The board of directors will continue to review and monitor the company's corporate governance practices to maintain high standards of governance[58] - All directors have confirmed compliance with the securities trading standards during the specified period[59] - The company believes that the current arrangement of having the chairman and CEO remain in office is beneficial for the overall interests of the company and its shareholders[57] Employee and Operational Management - Employee expenses for the first half of the fiscal year reached HKD 30.8 million, excluding director remuneration, reflecting the company's commitment to its workforce[49] - The company is actively monitoring geopolitical and trade policy uncertainties that may impact its operations, maintaining a cautious risk management approach[47] - The company has not engaged in any purchases, sales, or redemptions of its listed securities during the first half of the fiscal year[54] Financial Income - Bank interest income for the six months ended September 30, 2025, was HKD 8.5 million, a decrease from HKD 23.7 million in the same period of 2024, representing a decline of 64.15%[21] - The fair value changes of financial investments recognized through profit or loss were HKD 11.7 million for the six months ended September 30, 2025, slightly up from HKD 11.1 million in 2024[22] - The fair value of financial investments as of September 30, 2025, was HKD 59.6 million, an increase from HKD 48.6 million as of March 31, 2025[33]
TAI CHEUNG HOLD(00088) - 2026 - 中期财报