Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 152,418,000, a decrease of 2.8% compared to HKD 156,388,000 for the same period in 2024[3] - Gross profit for the same period was HKD 102,497,000, down from HKD 106,520,000, reflecting a decline of 3.8%[3] - The operating loss after investment property valuation changes was HKD 132,793,000, compared to a loss of HKD 504,310,000 in the previous year, indicating a significant improvement[3] - The net loss attributable to equity shareholders for the period was HKD 75,428,000, compared to HKD 277,829,000 in the prior year, representing a reduction of 72.8%[3] - Cash generated from operating activities was HKD 77,339,000, down from HKD 87,054,000, a decrease of 8.7%[7] - Other income for the six months ended September 30, 2025, was HKD 8,593,000, a decrease from HKD 11,949,000 in the same period last year[17] - The group incurred a pre-tax loss of HKD 75,428,000 for the six months ended September 30, 2025, compared to a loss of HKD 277,829,000 in the previous year[23] - The group’s interest income decreased to HKD 6,658,000 from HKD 11,570,000 year-on-year[17] - The group’s tax expenses for the six months ended September 30, 2025, were HKD 13,550,000, slightly up from HKD 13,418,000 in the previous year[19] Cash and Assets - Cash and cash equivalents at the end of the period increased to HKD 618,564,000 from HKD 572,862,000, reflecting a growth of 8.0%[7] - Total assets less current liabilities amounted to HKD 7,635,854,000, a decrease from HKD 7,853,472,000 as of March 31, 2025[4] - The total equity attributable to equity shareholders decreased to HKD 3,834,270,000 from HKD 3,947,677,000, a decline of 2.9%[4] - As of September 30, 2025, the total receivables (net of credit loss provisions) amounted to HKD 120,872,000, an increase from HKD 110,479,000 as of March 31, 2025[25] - The group’s total equity as of September 30, 2025, was HKD 7,299,300,000, compared to HKD 7,521,100,000 as of March 31, 2025[28] Dividends and Shareholder Information - The company declared dividends payable to equity shareholders amounting to HKD 37,979,000 during the period[5] - The group declared an interim dividend of HKD 0.05 per share, totaling HKD 23,737,000, down from HKD 28,484,000 in the previous year[21] - The board has declared an interim dividend of HKD 0.05 per share, down from HKD 0.06 per share in the previous year[30] - As of September 30, 2025, the company has a total of 237,370,032 shares held by Tian De Limited, representing 50.001% of the voting shares[39] - The company’s director, Zhong Qiong Lin, holds 46,139,164 shares, accounting for approximately 9.72% of the total voting shares[39] - The director, Zhong Jiong Hui, owns 27,864,420 shares, which is about 5.87% of the total voting shares[39] Operational Performance - The group reported rental income of approximately HKD 19,395,000 from a single customer, which accounted for over 10% of total revenue, compared to HKD 18,182,000 in the previous year[14] - The rental income from the International Plaza for the six months ending September 30, 2025, was approximately HKD 147,000,000, a decrease of about 2.3% year-on-year[28] - The occupancy rate of the International Plaza as of September 30, 2025, was approximately 74.8%, down from 77.0% a year earlier[28] - The group anticipates that rental income and operating performance for the second half of the year will be negatively impacted[29] Financing and Costs - The company reported a financing cost of HKD 3,273,000, down from HKD 5,496,000, indicating a reduction of 40.3%[3] - The group’s financing costs amounted to HKD 3,273,000, a reduction from HKD 5,496,000 in the previous year[18] - The group’s depreciation expenses were HKD 2,128,000, compared to HKD 2,185,000 in the previous year[18] - The group’s net foreign exchange gain was HKD 578,000, down from HKD 1,026,000 in the previous year[17] Corporate Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the six months ending September 30, 2025, except for the lack of insurance arrangements for directors facing legal actions[43] - The company currently does not have an internal audit function, but the board will review the necessity of establishing one annually[45] - The company has not disclosed the remuneration details of senior management by salary band in the annual report, believing it would not negatively impact the company[46] - All directors confirmed compliance with the standard code of conduct regarding securities transactions for the six months ending September 30, 2025[47] Audit and Review - The interim financial report was reviewed, including the consolidated financial position as of September 30, 2025, and the comprehensive income statement for the six-month period[49] - The review was conducted according to the Hong Kong Institute of Certified Public Accountants' standards, focusing on inquiries and analytical procedures[50] - No significant issues were identified that would suggest the interim financial report was not prepared in accordance with the relevant accounting standards[51] - The review was performed by KPMG, with the report issued on November 27, 2025[52]
天德地产(00266) - 2026 - 中期财报