Financial Performance - Revenue for the six months ended September 30, 2025, was HK$38,396,000, a decrease of 64% compared to HK$106,862,000 for the same period in 2024[15]. - Gross profit for the period was HK$3,065,000, down 78% from HK$13,773,000 in the previous year[15]. - Loss before taxation increased to HK$113,364,000, compared to a loss of HK$54,427,000 in the same period last year, representing a 108% increase in losses[15]. - Loss for the period was HK$112,268,000, compared to HK$65,429,000 in the prior year, indicating a 71% increase in losses[15]. - The company reported a loss attributable to owners of the Company of HK$72,913,000, compared to a loss of HK$47,750,000 for the same period in 2024, representing a 52.7% increase in loss[16]. - Total comprehensive expense for the period was HK$116,246,000, up from HK$69,084,000 in the previous year, indicating a 68.3% increase[16]. - The company reported a basic and diluted loss per share of HK$0.36 for the six months ended September 30, 2025, compared to HK$0.24 for the same period in 2024[16]. - The loss for the period attributable to owners of the Company was HK$72,913,000 for the six months ended September 30, 2025, compared to a loss of HK$47,750,000 in 2024, indicating a deterioration in performance[86]. - The gross profit margin for the current period is 7.98%, down from 12.89% in 2024, primarily due to a shift in revenue composition towards lower-margin property management services[196]. - The loss per share for the reporting period is approximately 0.36 HK cents, compared to 0.24 HK cents in 2024[198]. Expenses and Costs - Administrative and other expenses rose significantly to HK$59,420,000, up from HK$11,264,000, marking a 429% increase[15]. - Total staff costs for the six months ended September 30, 2025, were HK$22,082,000, significantly higher than HK$7,088,000 in 2024, indicating increased investment in human resources[82]. - The cost of inventories recognized as expenses was HK$10,529,000, down from HK$29,602,000 in the previous year, suggesting improved inventory management[82]. Income and Gains - Other income, gains, and losses increased to HK$7,955,000 from HK$5,179,000, reflecting a 54% growth[15]. - Total other income, gains, and losses for the six months ended September 30, 2025, amounted to HK$7,955,000, compared to HK$5,179,000 in 2024, reflecting an increase of approximately 53.5%[72]. Assets and Liabilities - The company's net current assets improved to HK$150,119,000 as of September 30, 2025, compared to net current liabilities of HK$208,178,000 as of March 31, 2025[18]. - Total assets less current liabilities increased significantly to HK$554,057,000 from HK$169,881,000, reflecting a substantial improvement in financial position[18]. - The total carrying amount of loan receivables as of September 30, 2025, was HK$126,848,000, up from HK$124,633,000 as of March 31, 2025, reflecting an increase of 1.8%[93]. - The total completed properties held for sale as of 30 September 2025 was HK$790,818,000 (unaudited), compared to HK$809,717,000 (audited) as of 31 March 2025[112]. - Trade receivables as of 30 September 2025 were HK$143,668,000 (unaudited), a decrease from HK$146,611,000 (audited) as of 31 March 2025[115]. - The Group's digital assets held in its own wallets amounted to HK$16,220,000 (unaudited) as of 30 September 2025, with Bitcoin representing the entire amount[108]. Cash Flow - For the six months ended September 30, 2025, the operating cash flows before movements in working capital were HK$ (19,862,000), a decrease from HK$ 53,830,000 in the same period of 2024[23]. - The net cash used in operating activities for the six months was HK$ (25,942,000), compared to a net cash inflow of HK$ 8,457,000 in the previous year[23]. - Cash flows from investing activities resulted in a net cash outflow of HK$ (80,299,000), compared to HK$ (14,726,000) in the prior period[24]. - Financing activities generated a net cash inflow of HK$ 518,292,000, a significant increase from a net cash outflow of HK$ (6,627,000) in the same period last year[24]. - The total cash and cash equivalents at the end of the period were HK$ 727,609,000, up from HK$ 326,080,000 at the end of the previous period[24]. Segment Information - For the six months ended September 30, 2025, total segment revenue was HK$38,396,000, with property development contributing HK$10,861,000 and property management contributing HK$26,882,000[59]. - The cryptocurrency-related business generated revenue of HK$653,000, marking its first contribution since the segment was established[59]. - The total segment loss for the same period was HK$101,034,000, with the property development segment reporting a loss of HK$59,027,000[59]. - As of September 30, 2025, total segment assets amounted to HK$1,120,926,000, with property development assets at HK$857,821,000 and cryptocurrency-related business assets at HK$105,270,000[64]. Share Capital and Equity - The company issued shares resulting in an increase in equity attributable to owners of the Company to HK$727,964,000 as of September 30, 2025, compared to HK$302,978,000 as of April 1, 2025[19]. - The company's share capital rose to HK$23,101,000 as of September 30, 2025, up from HK$20,319,000 as of March 31, 2025, marking an increase of 8.8%[18]. - The Group issued 2,782,330,000 new ordinary shares at a subscription price of HK$0.18 per share on 30 September 2025, raising approximately HK$498,037,000 in share premium[155]. Future Outlook and Strategy - The company is focusing on expanding its cryptocurrency-related services, which are expected to grow as the market develops[56]. - The Group's management assesses that the possibility of default in mortgage loans by home buyers is remote, indicating a low risk of financial impact from guarantees provided[162]. - The Group's management reported that all loan receivables were secured by collaterals as of both September 30, 2025, and March 31, 2025[94].
国际商业结算(00147) - 2026 - 中期财报