Sky Blue 11 Company Limited (Stock Code: 1010) released its unaudited second interim results for the twelve months ended 31 December 2025. According to the announcement, the Group recorded revenue of HK$31.09 million, down from HK$36.03 million in the corresponding period of 2024, mainly contributed by its design and sales of integrated circuits and semi-conductor parts. The net loss for the period was HK$43.16 million, compared with HK$165.11 million a year earlier. No second interim dividend was declared.
The reduction in loss was attributed to the absence of hefty impairment provisions recorded in the prior year. Nonetheless, the Group continued to face challenging market dynamics, particularly within its yacht and executive jet management businesses. Despite those headwinds, the design and sales of integrated circuits business contributed revenue of HK$31.09 million with segment loss at HK$0.29 million. The yacht segment registered no revenue and recorded a segment loss of HK$0.23 million. No revenue was recorded in the executive jet management unit.
Under the property investment segment, the Group reported a fair value loss of HK$19.37 million on investment properties in Saipan. This change reflects the local economic downturn, which has continued to affect tourism-driven business activities and weighed on market valuations in the region.
As at 31 December 2025, the Group continued to report net current liabilities of HK$182.82 million and net liabilities of HK$167.32 million. Cash and cash equivalents stood at HK$29.39 million, although HK$6.26 million of that amount remained frozen due to legal proceedings involving a supplier. The Board noted ongoing support from a shareholder and has reviewed cost controls and financing plans to address liquidity needs.
The total number of shares in issue remained at 444,294,170, and there was no new fundraising activity during the twelve months under review. The Group also reported no pledge of assets as at the end of 2025. Employee benefits for the period amounted to HK$23.09 million, with 34 employees on the payroll.
The Board announced that it has changed the Company’s financial year-end date from 31 December to 30 June, effective 24 December 2025. Consequently, the next audited financial statements will cover an 18-month period from 1 January 2025 to 30 June 2026. Directors reaffirmed the Group’s going-concern basis, referencing expected cash flow management measures and the rollover of existing borrowings.
No second interim dividend was declared. The unaudited condensed consolidated financial information has been reviewed by the Company’s audit committee, and the full second interim report is set to be made available on both the Stock Exchange’s website and the Company’s official website in due course.