Emperor International Holdings Limited (stock code: 163) announced its unaudited interim results for the six months ended 30 September 2025. Total revenue rose by 247.3% year-on-year to HK$1,595.4 million, mainly driven by property development income surging to HK$1,235.5 million from HK$81.9 million in the previous period. Revenue from property investment slightly declined to HK$359.9 million from HK$377.5 million a year ago.
Despite incurring HK$2,067.9 million in fair value loss on investment properties, the Group’s net loss narrowed significantly to HK$2,290.6 million, compared with HK$3,562.4 million in the prior period. The improvement stemmed partly from the absence of a discontinued operation loss reported last year. Basic loss per share was HK$0.42, contrasting with HK$0.92 previously. Management noted that the fair value loss is non-cash and therefore does not directly affect the Group’s cash flow.
The property development segment benefited from sales of luxury residential projects, including One Jardine’s Lookout and SouthSky. The MVP, located in Mid-levels, recorded strong pre-sales, with almost all units contracted by 30 September 2025. On the investment properties front, the Group maintains a portfolio exceeding 2.4 million square feet across Hong Kong, the Chinese Mainland, and Macau. As at 30 September 2025, occupancy in Hong Kong investment properties stood above 90%.
Several property disposals were announced to enhance liquidity. These include the disposal of two retail shops and one residential unit in Macau for HK$90.0 million, a retail and office building in London for GBP22.0 million, and a commercial building in Wanchai, subject to shareholder approval, for HK$1,160.0 million.
As of 30 September 2025, the Group’s net asset value totaled HK$14,759.2 million. Bank borrowings stood at HK$16,396.2 million. Management reported that financial arrangements with the Group’s banking partners are resumed according to agreed terms, allowing greater flexibility until at least 31 July 2027. No interim dividend was declared.