Latest data from the Hong Kong Stock Exchange reveals that on December 2, shareholders of GRAND MING Group Holdings (01271) transferred shares from Liqiao International Securities to Liqiao Securities, with a market value of HK$956 million, accounting for 72.38% of the total.

For the six months ended September 30, 2025, GRAND MING reported revenue of HK$253.5 million, a year-on-year decline of 62.9%, and a net loss of HK$26.052 million, compared to a profit of HK$52.6 million in the same period last year. The shift from net profit to net loss was primarily due to: (i) a significant reduction in residential property deliveries and the expiration of a data center lease; (ii) decreased sales expenses due to lower property sales revenue; and (iii) a substantial drop in fair value gains from revaluation of investment properties under development to HK$400,000.