HKG:0045 Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	7,978	10,290	8,112	4,198	3,461
Revenue Growth (YoY)	-22.47%	26.85%	93.23%	21.29%	27.71%
Cost of Revenue	4,380	6,868	5,389	2,688	2,245
Gross Profit	3,598	3,422	2,723	1,510	1,216
Selling, General & Admin	243	314	251	158	89
Other Operating Expenses	1,680	1,662	1,374	953	733
Operating Expenses	2,637	2,662	2,145	1,563	1,321
Operating Income	961	760	578	-53	-105
Interest Expense	-778	-900	-281	-157	-157
Interest & Investment Income	17	28	21	6	4
Earnings From Equity Investments	-74	-108	-184	-65	-15
Other Non Operating Income (Expenses)	85	118	-33	-47	-
EBT Excluding Unusual Items	211	-102	101	-316	-273
Asset Writedown	287	-727	186	-152	-9
Pretax Income	498	-829	287	-468	-282
Income Tax Expense	183	164	139	17	37
Earnings From Continuing Operations	315	-993	148	-485	-319
Minority Interest in Earnings	5	50	-2	-3	199
Net Income	320	-943	146	-488	-120
Net Income to Common	320	-943	146	-488	-120
Shares Outstanding (Basic)	1,667	1,659	1,649	1,649	1,649
Shares Outstanding (Diluted)	1,667	1,659	1,649	1,649	1,649
Shares Change (YoY)	0.48%	0.61%	-	-	0.43%
EPS (Basic)	0.19	-0.57	0.09	-0.30	-0.07
EPS (Diluted)	0.19	-0.57	0.09	-0.30	-0.07
Free Cash Flow	1,423	4,031	3,093	217	177
Free Cash Flow Per Share	0.85	2.43	1.88	0.13	0.11
Dividend Per Share	-	-	0.080	-	-
Gross Margin	45.10%	33.26%	33.57%	35.97%	35.13%
Operating Margin	12.05%	7.39%	7.12%	-1.26%	-3.03%
Profit Margin	4.01%	-9.16%	1.80%	-11.63%	-3.47%
Free Cash Flow Margin	17.84%	39.17%	38.13%	5.17%	5.11%
EBITDA	1,625	1,396	1,051	351	336
EBITDA Margin	20.37%	13.57%	12.96%	8.36%	9.71%
D&A For EBITDA	664	636	473	404	441
EBIT	961	760	578	-53	-105
EBIT Margin	12.05%	7.39%	7.12%	-1.26%	-3.03%
Effective Tax Rate	36.75%	-	48.43%	-	-
Advertising Expenses	243	314	251	158	89

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.