KEYNE LTD (00009) announced its unaudited interim results for the six months ended 30 June 2025. The company recorded a net gain attributable to owners of approximately HK$198 million, compared with a loss of around HK$111 million for the same period in 2024. The turnaround primarily stemmed from a disposal of assets that generated a gain of approximately HK$280.6 million. As a result, basic and diluted gains per share came in at HK5.55 cents, up from a loss of HK3.12 cents a year earlier.

No revenue was recorded for the reporting period, while the group’s cash and cash equivalents stood at HK$57,000 as of 30 June 2025. Its net liabilities amounted to around HK$1.50 billion, compared with HK$1.69 billion at the end of 2024. Management stated that liquidity conditions remain challenging, noting the presence of current borrowings of HK$694 million against limited cash on hand.

The company highlighted developments in its property management initiatives in mainland China, including potential agreements on several projects. It also reported that the centralised heat supply business, conducted via related subsidiaries, continued to serve industrial customers in Dongguan. At the same time, certain court executions in relation to overdue borrowings and forced asset disposals took place, impacting the group’s property portfolio.

Looking ahead, the group will focus on restructuring measures, including cost control, possible asset disposals, and exploring new revenue streams. No interim dividend was proposed. Corporate governance information showed that the newly appointed independent non-executive directors strengthened board compliance with listing requirements. Trading in the company’s shares remains suspended. Management reiterated that efforts are ongoing to address outstanding resumption guidance provided by the relevant regulatory authorities.