Tai Sang Land Development Income Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	475.94	481.55	487.06	439.86	407.02	351.65
Total Revenue	475.94	481.55	487.06	439.86	407.02	351.65
Revenue Growth (YoY	-4.31%	-1.13%	10.73%	8.07%	15.75%	-5.04%
Property Expenses	165.68	182.95	183.45	148.15	136.44	86.8
Selling, General & Administrative	194.06	181.54	184.73	176.28	149.45	124.84
Other Operating Expenses	3.97	-	-	-	19.41	7.81
Total Operating Expenses	363.71	364.49	368.17	324.44	305.3	219.45
Operating Income	112.22	117.07	118.89	115.42	101.73	132.21
Interest Expense	-135.89	-151.86	-145.74	-71.23	-36.61	-38.27
Interest & Investment Income	3.56	3.85	3.07	1.98	1.33	1.93
EBT Excluding Unusual Items	-20.1	-30.93	-23.78	46.18	66.45	95.87
Gain (Loss) on Sale of Assets	-0.02	0.39	3.21	-0.1	-0.13	0.01
Asset Writedown	-397.99	-329.25	-190.02	286.18	617.13	-243.05
Pretax Income	-418.11	-359.8	-210.59	332.25	683.44	-147.17
Income Tax Expense	-35.96	-19.61	-46.23	-53.26	29.02	5.81
Earnings From Continuing Operations	-382.15	-340.19	-164.37	385.51	654.43	-152.98
Minority Interest in Earnings	4.86	6.78	-21.29	-25.4	-20.81	-2.96
Net Income	-377.29	-333.41	-185.66	360.12	633.62	-155.94
Net Income to Common	-377.29	-333.41	-185.66	360.12	633.62	-155.94
Net Income Growth	-	-	-	-43.16%	-	-
Basic Shares Outstanding	288	288	288	288	288	288
Diluted Shares Outstanding	288	288	288	288	288	288
EPS (Basic)	-1.31	-1.16	-0.65	1.25	2.20	-0.54
EPS (Diluted)	-1.31	-1.16	-0.65	1.25	2.20	-0.54
EPS Growth	-	-	-	-43.16%	-	-
Dividend Per Share	0.080	0.090	0.120	0.200	0.220	0.220
Dividend Growth	-20.00%	-25.00%	-40.00%	-9.09%	-	-
Operating Margin	23.58%	24.31%	24.41%	26.24%	24.99%	37.60%
Profit Margin	-79.27%	-69.24%	-38.12%	81.87%	155.67%	-44.35%
EBITDA	150.68	156.53	161.29	164.46	142.69	154.46
EBITDA Margin	31.66%	32.50%	33.12%	37.39%	35.06%	43.92%
D&A For Ebitda	38.46	39.46	42.41	49.04	40.96	22.25
EBIT	112.22	117.07	118.89	115.42	101.73	132.21
EBIT Margin	23.58%	24.31%	24.41%	26.24%	24.99%	37.60%
Effective Tax Rate	-	-	-	-	4.25%	-

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.