Huasheng International Holding Limited (Stock Code: 1323) reported its unaudited condensed consolidated interim results for the six months ended 30 September 2025. During the period, the Group focused on production and sales of ready-mixed commercial concrete (“Concrete Business”) and completed the disposal of its money lending operation in March 2025.
The Group’s revenue from continuing operations was approximately HK$161.4 million, a decline of about 19.3% compared with HK$200.0 million for the same period in 2024. This decrease was attributed to sluggish demand for ready-mixed concrete in Mainland China as the real estate market remained weak and infrastructure investment grew more slowly. The average selling price of concrete products per cubic metric also dropped by around 6.0% compared to the previous period.
Net loss attributable to owners of the Company was approximately HK$41.8 million, compared to HK$24.4 million in 2024. Gross profit from continuing operations decreased to about HK$12.9 million from HK$37.5 million in the prior comparative period, while gross profit margin for the Concrete Business declined from 18.7% to 8.0%. Factors affecting profitability included both lower average selling prices and higher raw material costs.
Other gains and losses, net, turned to a gain of approximately HK$3.1 million from a net loss of HK$7.8 million (restated) in 2024. This was primarily driven by a reversal of impairment loss on certain receivables, partially offset by a loss on early redemption of bond payables. Finance costs from continuing operations were HK$6.8 million (down 45.8%), largely reflecting the early redemption of corporate bonds.
As at 30 September 2025, the Group’s current ratio stood at 2.1. Gearing ratio was 23.6%, calculated on total debts of HK$199.3 million over shareholders’ equity of HK$845.5 million. The Group had cash and cash equivalents of about HK$55.5 million. During the period, it acquired four industrial building units in Hong Kong, with a total consideration of HK$16.5 million, treating them as investment properties leased out under operating leases.
Looking ahead, the Group noted that real estate policies in Mainland China have not yet fully alleviated the downturn in the property sector, and raw material costs remain a key challenge. The Group plans to explore alternative business lines and investment opportunities to broaden income sources, while retaining caution amid a competitive and uncertain market environment. No interim dividend was declared for the reporting period.