New Times Corp reported interim results for the six months ended 30 June 2026, showing a sharp top-line expansion driven by its precious-metals operations and a narrower group loss despite continued weakness in its Canadian energy assets.
Revenue and Earnings • Consolidated revenue from continuing operations climbed 29.0% year on year to HK$9.14 billion (H1 2025: HK$7.08 billion). • Loss attributable to shareholders contracted 16.7% to HK$50.90 million, compared with a HK$61.10 million loss a year earlier. • Gross loss improved to HK$15.10 million from HK$41.40 million. • Basic and diluted loss per share stood at HK0.58 cents (H1 2025: HK0.70 cents).
Segment Performance Precious Metals Refining & Trading • Revenue surged 29.4% to HK$9.02 billion, reflecting higher precious-metal prices. • Segment loss narrowed to HK$2.30 million (H1 2025: HK$8.60 million) despite a HK$1.60 million mark-to-market loss on tactical gold derivatives. • Gross profit reached HK$8.80 million, while interest income from surplus cash contributed HK$1.70 million.
Canadian Upstream Energy & Industrial Park • Revenue increased 5.6% to HK$119.20 million as natural-gas production averaged 6,649 boe/d, up 3%. • Segment loss reduced 30.8% to HK$47.40 million on cost controls and HK$23.00 million of hedge gains, despite persistently weak AECO gas prices. • Preparatory work continued on the Horn River Basin gas-to-power pilot and discussions progressed with data-centre prospects at the 1,200-acre Discovery Park site in British Columbia.
Financial Position • Cash and bank balances rose to HK$561.10 million at end-June from HK$398.70 million at 31 December 2025. • Net current assets totalled HK$484.70 million (31 December 2025: HK$512.30 million). • Total equity stood at HK$932.30 million, giving a net asset value of HK$0.11 per share. • The group remained ungeared; the gearing ratio was 0%, while the debt ratio increased to 27.8% (31 December 2025: 24.3%). • Capital expenditure during the period was HK$8.60 million; no material capital commitments are outstanding.
Cash Utilisation • Of the HK$736.40 million raised in the 2017 open offer, HK$44.80 million remained unutilised as of 30 June 2026, earmarked for general working capital by year-end.
Dividend • The board declared no interim dividend (H1 2025: Nil).
Outlook Management will maintain a conservative stance centered on liquidity, cost control and disciplined capital allocation. Priorities include mitigating commodity-price exposure in Canada, advancing potential data-centre development at Discovery Park, and improving trading margins and risk controls within the precious-metals segment.