Tai United Holdings Reports 22.6% Narrower Loss Before Tax at HK$212.6 Million on Lower Revenues for Six Months Ended 30 June 2024

Reuters
09/29
Tai United Holdings Reports 22.6% Narrower Loss Before Tax at HK$212.6 Million on Lower Revenues for Six Months Ended 30 June 2024

Tai United Holdings Limited reported revenue of HK$64.8 million for the interim period ended 31 December 2024, down 1.5% from HK$65.8 million in the same period last year. The decrease was mainly attributed to lower sales of medical equipment in China. The Group recorded a pre-tax loss of HK$212.6 million, narrowing from a pre-tax loss of HK$274.7 million in the prior-year period. Loss attributable to owners of the company decreased to HK$198.7 million from HK$251.7 million for the period ended 30 June 2024. The reduced loss was primarily due to a combination of factors, including a fair value decrease of HK$83.1 million in investment properties, a provision of HK$50.3 million for guarantee contracts related to undisclosed guarantees on loans for shopping centres in Guangzhou and Jinzhou, and finance costs of HK$76.7 million mainly related to a bank loan of approximately RMB1,345 million for the acquisition of the Guangzhou shopping mall. An income tax credit of HK$14.3 million was recorded during the period. The Group's flooring materials trading segment posted revenue of HK$13.3 million, a decrease of 3.6% from HK$13.8 million in the previous period. The segment loss for financial services was HK$1.8 million, compared to a loss of HK$1.9 million in the same period last year, while the distressed debt assets management business recorded a loss of HK$1.7 million, slightly below the HK$1.8 million loss previously. During the period, Tai United completed the sale of its UK luxury property subsidiary for GBP50 million. A deposit of GBP19 million from the transaction was used to repay a defaulted UK loan, and a further GBP3 million was paid in January 2025 for property refurbishment as per the sale agreement. The company stated that it is adopting a prudent approach in its financial investments and has postponed the commencement of its money lending business in Hong Kong due to uncertain market conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tai United Holdings Limited published the original content used to generate this news brief on September 29, 2025, and is solely responsible for the information contained therein.

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