Auto Italia Holdings reported a sharp turnaround for the six months ended 30 June 2026, booking profit attributable to owners of HK$137.97 million versus HK$8.43 million a year earlier. The rebound was driven chiefly by a HK$169.06 million fair-value gain on financial assets held at FVTPL, eclipsing all other earnings contributors.

Revenue and Margins • Total revenue from continuing operations rose 40.9% year on year to HK$27.07 million (1H 2025: HK$19.21 million). • Car Division sales more than doubled to HK$12.33 million, boosted by expanded distribution in Europe, Africa and South America. • Property Investment rental income climbed 11.4% to HK$14.75 million, aided by new leases and positive reversions in Scotland. • Group gross profit increased 37.1% to HK$14.26 million, though the blended margin eased to 52.7% (1H 2025: 54.1%) as cars accounted for a larger revenue share.

Operating Performance • Selling & distribution plus administrative expenses edged up 6.2% to HK$18.88 million, while finance costs rose 21.7% to HK$20.97 million following the February 2026 issue of HK$98.00 million in 3% convertible bonds. • Earnings per share surged to HK2.59 cents (basic) from HK0.16 cents.

Segment Results • Car Division delivered segment profit of HK$162.03 million (1H 2025: HK$15.57 million), reflecting the sizeable fair-value gain. • Property Investment contributed HK$8.97 million (1H 2025: HK$22.91 million). • Financial Investments and Services recorded a HK$0.17 million loss amid a cautious lending stance.

Balance Sheet and Liquidity • Total assets expanded to HK$0.92 billion (31 Dec 2025: HK$0.76 billion), supported by a jump in financial assets at FVTPL to HK$320.56 million. • Net current assets improved to HK$75.96 million from a HK$112.13 million deficit six months earlier. • Total equity nearly doubled to HK$368.03 million, reducing the debt-to-equity ratio to 128.2% (31 Dec 2025: 266.1%). • Cash and pledged deposits stood at HK$58.27 million (31 Dec 2025: HK$14.17 million). • Interest-bearing liabilities (other borrowings, shareholder/related loans, promissory notes, convertible bonds) declined to HK$471.60 million (31 Dec 2025: HK$502.60 million).

Capital Actions • A February 2026 placement of 50 million new shares at HK$0.30 each raised HK$14.36 million, fully deployed to expand the electric-vehicle business and bolster working capital. • Concurrently, the company issued HK$98.00 million of convertible bonds, using the proceeds to settle HK$98.00 million of borrowings and promissory notes.

Other Developments • The discontinuation of the PRC Maserati dealership, completed in August 2025, reduced losses from discontinued operations to HK$0.10 million (1H 2025: HK$1.67 million). • No interim dividend was declared. • Post-period, no material events were reported.

Outlook Management intends to sustain disciplined cost controls, maintain prudent capital management and pursue geographic expansion in South America, Africa and China while deepening European corporate key-account penetration to support long-term growth in the electric-vehicle segment.