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	2016 - 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	2016 - 2020
Rental Revenue	475.94	481.55	487.06	439.86	407.02	351.65	Upgrade
Total Revenue	475.94	481.55	487.06	439.86	407.02	351.65	Upgrade
Revenue Growth (YoY	-4.31%	-1.13%	10.73%	8.07%	15.75%	-5.04%	Upgrade
Property Expenses	165.68	182.95	183.45	148.15	136.44	86.8	Upgrade
Selling, General & Administrative	194.06	181.54	184.73	176.28	149.45	124.84	Upgrade
Other Operating Expenses	3.97	-	-	-	19.41	7.81	Upgrade
Total Operating Expenses	363.71	364.49	368.17	324.44	305.3	219.45	Upgrade
Operating Income	112.22	117.07	118.89	115.42	101.73	132.21	Upgrade
Interest Expense	-135.89	-151.86	-145.74	-71.23	-36.61	-38.27	Upgrade
Interest & Investment Income	3.56	3.85	3.07	1.98	1.33	1.93	Upgrade
EBT Excluding Unusual Items	-20.1	-30.93	-23.78	46.18	66.45	95.87	Upgrade
Gain (Loss) on Sale of Assets	-0.02	0.39	3.21	-0.1	-0.13	0.01	Upgrade
Asset Writedown	-397.99	-329.25	-190.02	286.18	617.13	-243.05	Upgrade
Pretax Income	-418.11	-359.8	-210.59	332.25	683.44	-147.17	Upgrade
Income Tax Expense	-35.96	-19.61	-46.23	-53.26	29.02	5.81	Upgrade
Earnings From Continuing Operations	-382.15	-340.19	-164.37	385.51	654.43	-152.98	Upgrade
Minority Interest in Earnings	4.86	6.78	-21.29	-25.4	-20.81	-2.96	Upgrade
Net Income	-377.29	-333.41	-185.66	360.12	633.62	-155.94	Upgrade
Net Income to Common	-377.29	-333.41	-185.66	360.12	633.62	-155.94	Upgrade
Net Income Growth	-	-	-	-43.16%	-	-	Upgrade
Basic Shares Outstanding	288	288	288	288	288	288	Upgrade
Diluted Shares Outstanding	288	288	288	288	288	288	Upgrade
EPS (Basic)	-1.31	-1.16	-0.65	1.25	2.20	-0.54	Upgrade
EPS (Diluted)	-1.31	-1.16	-0.65	1.25	2.20	-0.54	Upgrade
EPS Growth	-	-	-	-43.16%	-	-	Upgrade
Dividend Per Share	0.080	0.090	0.120	0.200	0.220	0.220	Upgrade
Dividend Growth	-20.00%	-25.00%	-40.00%	-9.09%	-	-	Upgrade
Operating Margin	23.58%	24.31%	24.41%	26.24%	24.99%	37.60%	Upgrade
Profit Margin	-79.27%	-69.24%	-38.12%	81.87%	155.67%	-44.35%	Upgrade
EBITDA	148.41	156.53	161.29	164.46	142.69	154.46	Upgrade
EBITDA Margin	31.18%	32.50%	33.12%	37.39%	35.06%	43.92%	Upgrade
D&A For Ebitda	36.19	39.46	42.41	49.04	40.96	22.25	Upgrade
EBIT	112.22	117.07	118.89	115.42	101.73	132.21	Upgrade
EBIT Margin	23.58%	24.31%	24.41%	26.24%	24.99%	37.60%	Upgrade
Effective Tax Rate	-	-	-	-	4.25%	-	Upgrade

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