Financial Performance - The company reported a significant loss of HKD 48.4 billion for the fiscal year ending March 2025, marking a 138% increase in losses compared to the previous year [1][5][6] - Total revenue for the year was HKD 13.76 billion, representing a year-on-year growth of 41.5%, primarily driven by a substantial increase in property development sales, which rose by 352.2% to HKD 6.41 billion [3][5] - The company faced a liquidity crisis, with only HKD 6.39 billion in cash and bank balances against current liabilities of HKD 188 billion, including HKD 166 billion in overdue bank loans [5][8] Debt and Financial Obligations - The company has reported overdue or defaulted bank loans amounting to HKD 166 billion, with banks potentially demanding immediate repayment [6][8] - The audit firm raised concerns about the company's ability to continue as a going concern due to its financial situation [6] Management and Future Plans - The company is currently negotiating with banks to reach an agreement on a financial restructuring plan and aims to improve liquidity through property sales and rental income over the next twelve months [8] - The management is taking proactive measures to control administrative and operational costs [8] Background and Industry Context - The company operates in various sectors, including entertainment, real estate, jewelry, finance, and hospitality, with seven subsidiaries listed on the Hong Kong Stock Exchange [10] - The founder, Yang Shoucheng, has a history of overcoming significant business challenges, including a major crisis in 1983 during the Hong Kong dollar crisis [13]
166亿借贷逾期!英皇陷财务危机,容祖儿回应对公司有信心
Sou Hu Cai Jing·2025-07-09 05:11