KEYNE LTD (Stock Code: 00009) released its unaudited condensed consolidated interim results for the six months ended 30 June 2025. The Group reported no revenue for the period, compared to no revenue in the same period of 2024. The disposal of a PRC subsidiary’s commercial property contributed significantly to results, generating a gain of HK$280.6 million and helping turn the overall performance from a net loss to a net gain.

For the six months ended 30 June 2025, the Group recorded a gain attributable to owners of HK$198.0 million, compared with a loss of HK$111.3 million in 2024. Basic and diluted earnings per share were HK5.55 cents, reversing a basic and diluted loss per share of HK3.12 cents last year. Administrative expenses totaled HK$5.6 million. Finance costs amounted to HK$77.0 million, primarily related to interest on borrowings and foreign exchange differences.

As of 30 June 2025, the Group reported net current liabilities of HK$1,487.3 million and cash and cash equivalents of HK$57,000. Total borrowings stood at HK$707.1 million, with HK$694.2 million classified as current. The Group’s net liabilities were HK$1,500.2 million.

During the review period, the Group focused on property management and centralized heat supply operations. Management indicated that efforts continue to reduce costs, stabilize operations, and improve liquidity, including exploring new revenue streams and possible restructuring measures. The Group remains suspended from trading on the Stock Exchange of Hong Kong. Recent post-period developments include a legal action in the PRC and further steps to address outstanding debt. The Group also disclosed that the Listing Committee decided to cancel the Company’s listing, and the Company has requested a review of that decision.