China Motor Bus Company, Limited (stock code: 026) has released unaudited interim results for the six months ended 31 December 2025. Consolidated operating profit stood at HK$16.88 million, down from HK$35.17 million in the prior-year period. The decrease primarily stemmed from reduced rental income following the December 2024 disposal of an investment property and lower interest income amid a decline in interest rates. The previous disposal generated HK$109.00 million in profit during the comparative period.
Net loss after taxation amounted to HK$64.40 million, compared with HK$34.21 million a year earlier, largely due to net valuation losses on investment properties totaling HK$101.78 million. These valuation losses were non-cash and did not affect operating cash flow. The Group’s overall financial position remained healthy as of the period-end.
Regarding dividends, an interim dividend of HK$0.10 per share and a special dividend of HK$1.00 per share were declared for those listed on the register by 3 June 2026, representing a total distribution of HK$1.10 per share. Dividend warrants are expected to be posted on or about 23 June 2026.
On property development, The Headland Residences in Hong Kong—developed via a joint venture in which China Motor Bus Company, Limited holds a 20% interest—commenced its pre-sale for Towers 2 and 3 in September 2025, selling over 130 units. In London, Scorpio House remains fully let after a 31% rent increase was secured for a further five-year period.
As of 31 December 2025, total assets less current liabilities stood at HK$6.67 billion, with net assets at HK$6.62 billion. Fixed assets amounted to HK$1.55 billion, while interests in joint ventures and associates were HK$2.18 billion and HK$1.70 billion, respectively. Deposits with banks reached HK$1.25 billion, and net current assets stood at HK$1.22 billion.
Management highlighted that the commercial office and retail leasing market in Hong Kong faces continued pressure, while the UK market shows some tentative signs of stabilization. Despite these conditions, the Group remains focused on property development and investment, with a continued emphasis on enhancing shareholder value through responsible deployment of capital and ongoing project efforts.