Tomson Group (Tomson) released its 2026 interim report for the six months ended 30 June 2026, revealing a sharp earnings contraction as property handovers normalised after last year’s one-off surge.
Financial Highlights • Revenue plunged 82.6% year-on-year to HK$460.14 million (2025: HK$2.64 billion). • Gross profit declined 83.4% to HK$306.75 million (2025: HK$1.84 billion); gross margin slipped from 69.6% to 66.7%. • Profit before tax dropped 90.6% to HK$163.49 million (2025: HK$1.75 billion). • Net profit attributable to shareholders fell 89.1% to HK$85.35 million (2025: HK$782.19 million). • Basic EPS decreased to HK$0.0378 (2025: HK$0.3596). • No interim dividend declared (unchanged from 2025 interim).
Segment Performance • Property Development & Trading: Profit dived 90.6% to HK$153.35 million as recognised sales from Shanghai’s Tomson Foresta shrank after the bulk of Phase 1 was delivered in 2025. • Property Investment: Shifted to a HK$33.51 million loss (2025 profit: HK$80.24 million) despite a HK$54.77 million fair-value gain at Tomson Riviera; the swing reflected a HK$143.39 million fair-value loss on other investment properties. • Leisure (Pudong Shanghai Tomson Golf Club): Earned HK$2.76 million (2025: HK$3.70 million) on HK$27.39 million revenue. • Securities Trading: Revenue jumped to HK$57.50 million (2025: HK$3.48 million) on higher disposal proceeds, but segment profit slipped to HK$1.27 million (2025: HK$12.18 million) after fair-value losses. • Media & Entertainment: Marginal profit of HK$0.03 million on HK$0.57 million revenue.
Balance Sheet and Liquidity • Cash and bank balances rose 23.8% since December 2025 to HK$1.99 billion, supported by HK$8.83 billion in contract liabilities from Tomson Foresta pre-sales (up 48.9%). • Interest-bearing borrowings increased to HK$1.35 billion (31 Dec 2025: HK$0.93 billion), lifting the total-liabilities-to-equity ratio to 100.8% (31 Dec 2025: 81.5%). • Current ratio weakened to 1.56x (31 Dec 2025: 1.76x). • Aggregate pledged assets stood at HK$4.33 billion, securing banking facilities. • Capital commitments for projects under development reached HK$2.16 billion.
Key Projects • Tomson Foresta (Shanghai): Phase 1 fully sold and delivered; Phases 2 & 3 under construction with 76% of residential GFA pre-sold. Deliveries expected around September 2026 and year-end 2026. • Tomson Riviera (Shanghai): Rental income remained resilient; fair-value uplift of HK$54.77 million recorded. • Penha Hill One (Macau): No sales recorded amid weak market sentiment; units currently leased to optimise returns.
Outlook Management anticipates intensified competition in Shanghai’s high-end residential market following new regulatory measures but remains cautiously optimistic, citing Tomson’s established brand and substantial pre-sales at Tomson Foresta. The company will continue focusing on property development and investment while prudently exploring additional opportunities across segments and regions.
No material changes were reported in directors’ information, and no share repurchase or sale of listed securities occurred during the period.