Core Viewpoint - The company reported a significant increase in revenue and profit for the first half of 2025, driven by property sales and project deliveries, despite facing some impairment losses in its property portfolio [1] Financial Performance - The company achieved a revenue of HKD 5.752 billion, representing a year-on-year increase of 105.14% [1] - The profit attributable to shareholders was HKD 282 million, a turnaround from a loss of HKD 217 million in the same period last year [1] - Basic earnings per share were HKD 0.1648 [1] Key Factors Influencing Performance - The revenue increase was primarily due to a higher total floor area sold from properties held for sale [1] - Major projects contributing to performance included Guangzhou Yuehai Yun Port City, Huizhou Yuehai Yigui Mansion, and Shenzhen Yuehai City (North Plot) [1] - The Guangzhou Yuehai Yun Port City project had a higher gross profit margin, leading to increased property sales profit compared to the same period in 2024 [1] Impairment and Valuation Losses - The company recognized an inventory impairment provision of approximately HKD 768 million during the review period, compared to none in the same period of 2024 [1] - The company recorded a fair value loss on investment properties of approximately HKD 98.81 million (net of related deferred tax expenses), contrasting with a gain of approximately HKD 1.4 million in the same period last year [1]
粤海置地(00124)发布中期业绩，股东应占溢利2.82亿港元，同比扭亏为盈