Financial Performance - CSI achieved approximately HK$896 million in sales for 1H FY2023 to maintain a healthy cash flow [12] - Gross revenue from property business increased by 132% from HK$100 million in 1H FY2022 to HK$231 million in 1H FY2023 [15] - Gross profit increased by 137% from HK$53 million in 1H FY2022 to HK$125 million in 1H FY2023 [15] - Profit from property joint ventures/associates increased by 167% from a loss of HK$230 million in 1H FY2022 to a profit of HK$154 million in 1H FY2023 [15] - Profit attributable to equity holders decreased by 52% from HK$128 million in 1H FY2022 to HK$62 million in 1H FY2023 [15] Balance Sheet and Credit Metrics - The company has properties and related assets worth HK$24420 million as of September 30, 2022 [16] - Cash and bank balances amounted to HK$2622 million [16] - Net debt to total assets ratio was 33% as of 1H FY2023, compared to 27% in FY2022 [18] - EBITDA to interest expenses was 15x in 1H FY2023 [18] Strategies and Portfolio - The company focuses on high-quality residential and commercial real estate portfolio [58] - The company is managing disposal pipeline to recycle capital and crystalize profit [58] - The company maintains prudent financing with strong asset coverage and liquidity [58]

Financial Performance & Sales - CSI made approximately HK$930 million in sales and had approximately HK$935 million of unrecognized contracted sales commitments for 1H FY2025, including joint ventures and associates[12] - The Group's contracted sales attributable to the Group were HK$930376 thousand and HK$935749 thousand respectively[12] - Gross revenue from property business was HK$143 million in 1H FY2025, compared to HK$324 million in 1H FY2024, with property sales contributing HK$23 million and rental income HK$120 million[15] - The loss attributable to equity holders was approximately HK$904 million, primarily due to adverse changes in the fair value of the Company's JV property[15] Balance Sheet & Liquidity - Properties and related assets amounted to HK$20892 million as of 1H FY2025[17] - Cash and bank balances, including cash held by securities brokers, totaled HK$1971 million[17] - Total bank borrowings amounted to HK$7390 million[24] - The company has approximately HK$22 billion in cash and equivalents to address the US$300 million bond due in July 2025[28] Key Credit Metrics & Funding - Net debt to total assets (net gearing ratio) was 329% for 1H FY2025[19] - Total bank borrowings are HK$10080 million, with 26% due within 1 year (HK$1921 million) and 74% due between 1-5 years (HK$5469 million)[22] - The effective interest rate ranges from 47% to 69% for the Group's bank borrowings as of 30 Sep 2024[26] Strategies & Portfolio - Management's strategies include managing a high-quality real estate portfolio, actively managing the disposal pipeline, and maintaining prudent financing[39] - The company has a pro-forma adjusted NAV per share of HK$175 based on 9277 million shares in issue as at 30 Sep 2024[30, 31] - The company has a diversified portfolio of prime properties in premier locations, including commercial properties with a book value of HK$33878 million and residential properties with a book value of HK$23614 million[36, 37]