Huscoke Holdings Limited (stock code: 704) released its interim report for the six months ended 30 September 2025. Total revenue during the period was approximately HK$29.24 million, mainly attributable to contractual processing and coal-related trading. The gross profit stood at HK$0.76 million, representing a gross profit margin of about 2.58%.

The company recorded a net loss of around HK$12.83 million, compared to HK$15.97 million for the same period last year. Management attributed the decrease in loss primarily to reductions in administrative and finance costs. Finance costs were about HK$15.40 million.

As of the end of the reporting period, the group reported net current liabilities of around HK$460.40 million. Cash and bank balances stood at HK$0.75 million, and total other borrowings amounted to HK$218.19 million. Shareholders’ equity attributable to the owners of the company was HK$883.66 million, translating to approximately HK$3.62 per share.

The report indicates that the company’s coking furnace assets have not commenced production, as the necessary facilities for these new assets remain under construction. Meanwhile, the company maintained its contractual processing operations, generating revenue ahead of the future full operation of the coking furnace assets. Looking forward, management highlights recovery signals in the steel and real estate markets, suggesting that the coking industry may benefit from improving demand.

Furthermore, the company mentions an ongoing winding-up petition sought by a major creditor, which has been adjourned to November 2025. The company is proceeding with negotiations to finalize a settlement agreement, subject to certain shareholding adjustments by its controlling shareholder.

For more details, please refer to Huscoke’s interim report for 2025/26.