Core Viewpoint - The company reported a significant increase in revenue and a substantial reduction in losses for the nine months ending September 30, 2025, indicating a positive trend in its financial performance [1] Financial Performance - The group's total revenue for the nine months was approximately HKD 6.728 billion, representing a year-on-year increase of about 66.4% [1] - The loss attributable to shareholders was approximately HKD 16.165 million, a reduction of 91.5% compared to the previous year [1] Key Factors Influencing Performance - The increase in revenue was primarily driven by the higher total floor area sold from properties held for sale [1] - Significant property deliveries during the review period included projects in Guangzhou, Huizhou, and Foshan, with the Guangzhou project having a higher gross profit margin, contributing to increased property sales profits compared to the same period in 2024 [1] - The company recognized an inventory impairment provision of approximately HKD 1.097 billion due to indications of impairment in some property projects, a notable change from no provisions in the same period last year [1] - The company also reported a fair value loss on investment properties of approximately HKD 99.12 million, compared to HKD 25.83 million in the same period last year, after accounting for related deferred tax expenses [1]

Core Viewpoint - The company reported a significant increase in revenue for the nine months ending September 30, 2025, driven by higher sales from properties held for sale, despite recording a loss attributable to shareholders. Group 1: Financial Performance - The company's consolidated revenue for the nine months was approximately HKD 6.728 billion, a 66.4% increase from HKD 4.043 billion in the same period last year [1] - The loss attributable to shareholders was approximately HKD 0.16 billion, an improvement from a loss of HKD 1.91 billion in the previous year [1] Group 2: Key Factors Affecting Performance - The increase in revenue was primarily due to the delivery of properties, notably the Guangzhou Yuehai Yun Port City, Huizhou Yuehai Yigui Mansion, and Foshan Yuehai Shigui Mansion, with the Guangzhou project having a higher gross profit margin [1] - The company recognized an inventory impairment provision of approximately HKD 1.097 billion due to indications of impairment in some property projects, which was not recorded in the same period last year [1] - The company recorded a fair value loss on investment properties of approximately HKD 99.12 million, compared to HKD 25.83 million in the previous year [1] Group 3: Property Holdings - As of September 30, 2025, the company held completed properties for sale valued at approximately HKD 11.653 billion and properties under development valued at approximately HKD 10.005 billion, totaling about HKD 21.658 billion [2] - The total signed and delivered gross floor area was approximately 214,000 square meters, slightly up from 210,000 square meters in the previous year [2] - The sales amount for properties that have been signed and paid for but not yet delivered was approximately HKD 6.510 billion, down from HKD 9.386 billion at the end of the previous year [2]