Ying Li Intl 5DM
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Financials
Annual Report 2025
Explore the statements
8 tablesConsolidated statement of comprehensive income
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueRMB’000 | 200,327 | 200,096 | PDF p. 115 |
| Cost of salesRMB’000 | (72,213) | (64,165) | PDF p. 115 |
| Gross profitRMB’000 | 128,114 | 135,931 | PDF p. 115 |
| Other incomeRMB’000 | 5,820 | 5,960 | PDF p. 115 |
| Other (losses)/gains | |||
| Loss allowances on trade and other receivablesRMB’000 | (683) | (568) | PDF p. 115 |
| Others - netRMB’000 | 122,306 | (64,920) | PDF p. 115 |
| Expenses | |||
| MarketingRMB’000 | (12,687) | (14,708) | PDF p. 115 |
| AdministrativeRMB’000 | (88,685) | (82,371) | PDF p. 115 |
| FinanceRMB’000 | (135,789) | (147,843) | PDF p. 115 |
| Income statement | |||
| Profit/(loss) before income taxRMB’000 | 18,396 | (168,519) | PDF p. 115 |
| Income tax expenseRMB’000 | (11,967) | (9,886) | PDF p. 115 |
| Net profit/(loss) for the financial yearRMB’000 | 6,429 | (178,405) | PDF p. 115 |
| Other comprehensive loss | |||
| Net currency translation differences arising from consolidationRMB’000 | (8,430) | (8,307) | PDF p. 115 |
| Other comprehensive loss, net of taxRMB’000 | (8,430) | (8,307) | PDF p. 115 |
| Other comprehensive income | |||
| Total comprehensive lossRMB’000 | (2,001) | (186,712) | PDF p. 115 |
| Net profit/(loss) attributable to | |||
| Equity holders of the CompanyRMB’000 | 6,444 | (178,466) | PDF p. 115 |
| Non-controlling interestsRMB’000 | (15) | 61 | PDF p. 115 |
| SubtotalRMB’000 | 6,429 | (178,405) | PDF p. 115 |
| Total comprehensive (loss)/income attributable to | |||
| Equity holders of the CompanyRMB’000 | (1,986) | (186,773) | PDF p. 115 |
| Non-controlling interestsRMB’000 | (15) | 61 | PDF p. 115 |
| SubtotalRMB’000 | (2,001) | (186,712) | PDF p. 115 |
| Earnings/(loss) per share for profit/(loss) attributable to equity holders of the Company | |||
| Basic earnings/(loss) per share (RMB)RMB per share | 0.003 | (0.070) | PDF p. 115 |
| Diluted earnings/(loss) per share (RMB)RMB per share | 0.002 | (0.070) | PDF p. 115 |
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Definitions & sources
Original report: PDF p. 115 ↗
Items that may be reclassified subsequently to profit or loss: Net currency translation differences arising from consolidation. The accompanying notes form an integral part of these financial statements.
Consolidated statement of financial position — Group
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Assets / Current assets | |||
| Cash and cash equivalentsRMB’000 | 97,585 | 108,413 | PDF p. 116 |
| Trade and other receivablesRMB’000 | 341,134 | 357,045 | PDF p. 116 |
| Development propertiesRMB’000 | 904,925 | 917,331 | PDF p. 116 |
| Assets / Current assets subtotal | |||
| SubtotalRMB’000 | 1,343,644 | 1,382,789 | PDF p. 116 |
| Assets / Non-current assets | |||
| Financial asset, at fair value through profit or loss (“FVPL”)RMB’000 | – | – | PDF p. 116 |
| Investment propertiesRMB’000 | 4,275,116 | 4,287,076 | PDF p. 116 |
| Property, plant and equipmentRMB’000 | 39,566 | 43,750 | PDF p. 116 |
| Assets / Non-current assets subtotal | |||
| SubtotalRMB’000 | 4,314,682 | 4,330,826 | PDF p. 116 |
| Assets | |||
| Total assetsRMB’000 | 5,658,326 | 5,713,615 | PDF p. 116 |
| Liabilities / Current liabilities | |||
| BorrowingsRMB’000 | 1,095,066 | 1,034,267 | PDF p. 116 |
| Trade and other payablesRMB’000 | 433,160 | 439,919 | PDF p. 116 |
| ProvisionsRMB’000 | 389,785 | 395,948 | PDF p. 116 |
| Current income tax liabilitiesRMB’000 | 99,759 | 182,082 | PDF p. 116 |
| Liabilities / Current liabilities subtotal | |||
| SubtotalRMB’000 | 2,017,770 | 2,052,216 | PDF p. 116 |
| Liabilities / Non-current liabilities | |||
| BorrowingsRMB’000 | 1,144,399 | 1,201,483 | PDF p. 116 |
| Other payable – related partyRMB’000 | 358,103 | 307,018 | PDF p. 116 |
| Deferred income tax liabilitiesRMB’000 | 429,812 | 406,571 | PDF p. 116 |
| Liabilities / Non-current liabilities subtotal | |||
| SubtotalRMB’000 | 1,932,314 | 1,915,072 | PDF p. 116 |
| Liabilities | |||
| Total liabilitiesRMB’000 | 3,950,084 | 3,967,288 | PDF p. 116 |
| Equity | |||
| NET ASSETSRMB’000 | 1,708,242 | 1,746,327 | PDF p. 116 |
| Equity / Capital and reserves attributable to equity holders of the Company | |||
| Share capitalRMB’000 | 4,028,372 | 4,028,372 | PDF p. 116 |
| Perpetual convertible securitiesRMB’000 | 878,970 | 878,970 | PDF p. 116 |
| Other reservesRMB’000 | (2,103,093) | (2,094,663) | PDF p. 116 |
| Accumulated lossesRMB’000 | (1,087,584) | (1,057,944) | PDF p. 116 |
| Equity / Capital and reserves attributable to equity holders of the Company subtotal | |||
| SubtotalRMB’000 | 1,716,665 | 1,754,735 | PDF p. 116 |
| Equity | |||
| Non-controlling interestsRMB’000 | (8,423) | (8,408) | PDF p. 116 |
| TOTAL EQUITYRMB’000 | 1,708,242 | 1,746,327 | PDF p. 116 |
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Definitions & sources
Original report: PDF p. 116 ↗
The accompanying notes form an integral part of these financial statements.
Statement of financial position — Company
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Assets / Current assets | |||
| Cash and cash equivalentsRMB’000 | 21,790 | 34,396 | PDF p. 117 |
| Trade and other receivablesRMB’000 | 3,050,595 | 3,059,344 | PDF p. 117 |
| Assets / Current assets subtotal | |||
| SubtotalRMB’000 | 3,072,385 | 3,093,740 | PDF p. 117 |
| Assets / Non-current assets | |||
| Property, plant and equipmentRMB’000 | – | 746 | PDF p. 117 |
| Investments in subsidiariesRMB’000 | 3,116,409 | 3,116,474 | PDF p. 117 |
| Assets / Non-current assets subtotal | |||
| SubtotalRMB’000 | 3,116,409 | 3,117,220 | PDF p. 117 |
| Assets | |||
| Total assetsRMB’000 | 6,188,794 | 6,210,960 | PDF p. 117 |
| Liabilities / Current liabilities | |||
| BorrowingsRMB’000 | 983,673 | 941,516 | PDF p. 117 |
| Trade and other payablesRMB’000 | 1,245,428 | 1,194,491 | PDF p. 117 |
| Liabilities / Current liabilities subtotal | |||
| SubtotalRMB’000 | 2,229,101 | 2,136,007 | PDF p. 117 |
| Liabilities / Non-current liabilities | |||
| BorrowingsRMB’000 | 379,546 | 388,236 | PDF p. 117 |
| Other payable – related partyRMB’000 | 358,103 | 307,018 | PDF p. 117 |
| Liabilities / Non-current liabilities subtotal | |||
| SubtotalRMB’000 | 737,649 | 695,254 | PDF p. 117 |
| Liabilities | |||
| Total liabilitiesRMB’000 | 2,966,750 | 2,831,261 | PDF p. 117 |
| Equity | |||
| NET ASSETSRMB’000 | 3,222,044 | 3,379,699 | PDF p. 117 |
| Equity / Capital and reserves attributable to equity holders of the Company | |||
| Share capitalRMB’000 | 4,028,372 | 4,028,372 | PDF p. 117 |
| Perpetual convertible securitiesRMB’000 | 878,970 | 878,970 | PDF p. 117 |
| Other reservesRMB’000 | (81,169) | (55,036) | PDF p. 117 |
| Accumulated lossesRMB’000 | (1,604,129) | (1,472,607) | PDF p. 117 |
| Equity | |||
| TOTAL EQUITYRMB’000 | 3,222,044 | 3,379,699 | PDF p. 117 |
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Definitions & sources
Original report: PDF p. 117 ↗
The accompanying notes form an integral part of these financial statements.
Consolidated statement of comprehensive income
21 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| RevenueRMB’000 | 200,327 | 200,096 | PDF p. 115 |
| Cost of salesRMB’000 | (72,213) | (64,165) | PDF p. 115 |
| Gross profitRMB’000 | 128,114 | 135,931 | PDF p. 115 |
| Other incomeRMB’000 | 5,820 | 5,960 | PDF p. 115 |
| Other (losses)/gains | |||
| - Loss allowances on trade and other receivablesRMB’000 | (683) | (568) | PDF p. 115 |
| - Others - netRMB’000 | 122,306 | (64,920) | PDF p. 115 |
| Expenses | |||
| - MarketingRMB’000 | (12,687) | (14,708) | PDF p. 115 |
| - AdministrativeRMB’000 | (88,685) | (82,371) | PDF p. 115 |
| - FinanceRMB’000 | (135,789) | (147,843) | PDF p. 115 |
| Income | |||
| Profit/(loss) before income taxRMB’000 | 18,396 | (168,519) | PDF p. 115 |
| Income tax expenseRMB’000 | (11,967) | (9,886) | PDF p. 115 |
| Net profit/(loss) for the financial yearRMB’000 | 6,429 | (178,405) | PDF p. 115 |
| Other comprehensive loss | |||
| Net currency translation differences arising from consolidationRMB’000 | (8,430) | (8,307) | PDF p. 115 |
| Other comprehensive loss, net of taxRMB’000 | (8,430) | (8,307) | PDF p. 115 |
| Total comprehensive income | |||
| Total comprehensive lossRMB’000 | (2,001) | (186,712) | PDF p. 115 |
| Net profit/(loss) attributable to | |||
| Equity holders of the CompanyRMB’000 | 6,444 | (178,466) | PDF p. 115 |
| Non-controlling interestsRMB’000 | (15) | 61 | PDF p. 115 |
| Total comprehensive (loss)/income attributable to | |||
| Equity holders of the CompanyRMB’000 | (1,986) | (186,773) | PDF p. 115 |
| Non-controlling interestsRMB’000 | (15) | 61 | PDF p. 115 |
| Earnings/(loss) per share for profit/(loss) attributable to equity holders of the Company | |||
| Basic earnings/(loss) per share (RMB)RMB per share | 0.003 | (0.070) | PDF p. 115 |
| Diluted earnings/(loss) per share (RMB)RMB per share | 0.002 | (0.070) | PDF p. 115 |
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Definitions & sources
Original report: PDF p. 115 ↗
Other comprehensive loss contains an item that may be reclassified subsequently to profit or loss: net currency translation differences arising from consolidation. The statement reports the net of tax subtotal.
Consolidated statement of cash flows
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit/(loss) before income taxRMB’000 | 18,396 | (168,519) | PDF p. 120 |
| Adjustments for | |||
| Fair value losses on investment propertiesRMB’000 | 11,960 | 33,000 | PDF p. 120 |
| Interest expenseRMB’000 | 135,789 | 147,843 | PDF p. 120 |
| Depreciation of property, plant and equipmentRMB’000 | 4,275 | 4,282 | PDF p. 120 |
| Loss on disposal of investment properties - netRMB’000 | – | 4,386 | PDF p. 120 |
| Reversal of provision on legal cases and penaltiesRMB’000 | (6,163) | – | PDF p. 120 |
| Loss allowance on trade and other receivablesRMB’000 | 683 | 568 | PDF p. 120 |
| Write-down of development properties - completed propertiesRMB’000 | 890 | 27,000 | PDF p. 120 |
| Interest income on bank balancesRMB’000 | (2,573) | (3,159) | PDF p. 120 |
| Reversal of over-accruals of land appreciation taxRMB’000 | (101,826) | – | PDF p. 120 |
| Exchange differencesRMB’000 | (6,828) | (1,665) | PDF p. 120 |
| Operating activities | |||
| Operating cash flows before movements in working capitalRMB’000 | 54,603 | 43,736 | PDF p. 120 |
| Movements in working capital | |||
| Trade and other receivablesRMB’000 | 15,227 | 13,112 | PDF p. 120 |
| Development propertiesRMB’000 | 11,516 | 7,233 | PDF p. 120 |
| Trade and other payablesRMB’000 | (18,990) | (14,363) | PDF p. 120 |
| Operating activities | |||
| Cash generated from operationsRMB’000 | 62,356 | 49,718 | PDF p. 120 |
| Interest receivedRMB’000 | 2,573 | 3,159 | PDF p. 120 |
| Income tax paidRMB’000 | (3,801) | (14) | PDF p. 120 |
| Net cash generated from operating activitiesRMB’000 | 61,128 | 52,863 | PDF p. 120 |
| Investing activities | |||
| Purchase of property, plant and equipmentRMB’000 | (65) | (399) | PDF p. 120 |
| Proceeds from disposal of property, plant and equipmentRMB’000 | – | 28 | PDF p. 120 |
| Proceeds from disposal of investment propertiesRMB’000 | – | 46,938 | PDF p. 120 |
| Net cash (used in)/generated from investing activitiesRMB’000 | (65) | 46,567 | PDF p. 120 |
| Financing activities | |||
| Decrease in restricted cashRMB’000 | 1,808 | 21,886 | PDF p. 120 |
| Proceeds from borrowingsRMB’000 | 63,000 | 894,851 | PDF p. 120 |
| Repayment of borrowingsRMB’000 | (92,750) | (1,123,332) | PDF p. 120 |
| Interest paidRMB’000 | (43,320) | (79,948) | PDF p. 120 |
| Net cash used in financing activitiesRMB’000 | (71,262) | (286,543) | PDF p. 120 |
| Cash and cash equivalents | |||
| Net decrease in cash and cash equivalentsRMB’000 | (10,199) | (187,113) | PDF p. 120 |
| Effect of exchange rate changes on cash and cash equivalentsRMB’000 | 1,179 | (958) | PDF p. 120 |
| Cash and cash equivalents at beginning of the financial yearRMB’000 | 78,680 | 266,751 | PDF p. 120 |
| Cash and cash equivalents at end of the financial yearRMB’000 | 69,660 | 78,680 | PDF p. 120 |
| Restricted bank balancesRMB’000 | 27,925 | 29,733 | PDF p. 120 |
| Cash and cash equivalents in the consolidated statement of financial positionRMB’000 | 97,585 | 108,413 | PDF p. 120 |
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Definitions & sources
Original report: PDF p. 120 ↗
The accompanying notes form an integral part of these financial statements.
Basic earnings/(loss) per share
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Basic earnings/(loss) per share | |||
| Net profit/(loss) attributable to equity holders of the CompanyRMB’000 | 6,444 | (178,466) | PDF p. 144 |
| Basic earnings/(loss) per shareRMB per share | 0.003 | (0.070) | PDF p. 144 |
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Definitions & sources
Original report: PDF p. 144 ↗
Basic EPS is calculated by dividing the net profit/(loss) attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the financial year.
Diluted earnings/(loss) per share
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Diluted earnings/(loss) per share | |||
| Net profit/(loss) attributable to equity holders of the CompanyRMB’000 | 6,444 | (178,466) | PDF p. 144 |
| Adjustment for perpetual convertible securities’000 | 1,480,000 | 1,480,000 | PDF p. 144 |
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Definitions & sources
Original report: PDF p. 144 ↗
For diluted EPS, net profit/(loss) attributable to equity holders and the weighted average number of ordinary shares outstanding are adjusted for the effects of all dilutive potential ordinary shares.
The report marks the 2024 diluted loss per share with an asterisk and explains: “For the financial year ended 31 December 2024, as the effect of conversion of shares from perpetual convertible securities is anti-dilutive, the diluted loss per share is the same as the basic loss per share.”
Gearing ratio and capital figures
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Capital risk | |||||
| BorrowingsRMB’000 | 2,239,465 | 2,235,750 | 1,363,219 | 1,329,752 | PDF p. 179 |
| Cash and cash equivalentsRMB’000 | (97,585) | (108,413) | (21,790) | (34,396) | PDF p. 179 |
| Net debtRMB’000 | 2,141,880 | 2,127,337 | 1,341,429 | 1,295,356 | PDF p. 179 |
| Total equityRMB’000 | 1,708,242 | 1,746,327 | 3,222,044 | 3,379,699 | PDF p. 179 |
| Total capitalRMB’000 | 3,850,122 | 3,873,664 | 4,563,473 | 4,675,055 | PDF p. 179 |
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Definitions & sources
Original report: PDF p. 179 ↗
The report defines gearing ratio as net debt divided by total capital. Net debt is borrowings less cash and cash equivalents. Total capital is total equity plus net debt.
The Group’s and Company’s strategies, unchanged from the prior year, are to maintain gearing ratios of less than 100%. The Group and Company are not subject to externally imposed capital requirements for the financial years ended 31 December 2025 and 2024.
Where the money comes from
Segment information
By business
Segment information by business segment 9 lines
| Item / unit | 2025Property investment segment, RMB'000 | 2025Property development segment, RMB'000 | 2025Others segment, RMB'000 | 2025Total Group, RMB'000 | 2024Property investment segment, RMB'000 | 2024Property development segment, RMB'000 | 2024Others segment, RMB'000 | 2024Total Group, RMB'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| Total segment revenue - sales to external partiesRMB'000 | 186,014 | 14,313 | – | 200,327 | 190,733 | 9,363 | – | 200,096 | PDF p. 182PDF p. 183 |
| Results | |||||||||
| Fair value losses on investment propertiesRMB'000 | (11,960) | – | – | (11,960) | (33,000) | – | – | (33,000) | PDF p. 182PDF p. 183 |
| Segment results include | |||||||||
| Depreciation of property, plant and equipmentRMB'000 | – | – | 4,275 | 4,275 | – | – | 4,282 | 4,282 | PDF p. 182PDF p. 183 |
| Write-down of development properties - completed propertiesRMB'000 | – | 890 | – | 890 | – | 27,000 | – | 27,000 | PDF p. 182PDF p. 183 |
| Loss allowances on trade and other receivablesRMB'000 | 683 | – | – | 683 | 568 | – | – | 568 | PDF p. 182PDF p. 183 |
| Assets | |||||||||
| Segment assetsRMB'000 | 4,286,995 | 1,221,332 | 149,999 | 5,658,326 | 4,305,556 | 1,241,659 | 166,400 | 5,713,615 | PDF p. 182PDF p. 183 |
| Segment assets include: Additions to | |||||||||
| - Property, plant and equipmentRMB'000 | – | – | 65 | 65 | – | – | 399 | 399 | PDF p. 182PDF p. 183 |
| Liabilities | |||||||||
| Segment liabilitiesRMB'000 | 528,204 | 329,413 | 853,002 | 1,710,619 | 518,905 | 440,571 | 772,062 | 1,731,538 | PDF p. 182PDF p. 183 |
| Results | |||||||||
| Adjusted EBITRMB'000 | 94,710 | (28,712) | (56,833) | 9,165 | PDF p. 183 | ||||
Notes
* Includes reversal of over-accruals of land appreciation tax.
Adjusted EBIT excludes fair value changes on investment properties and financial asset at FVPL. No sales between operating segments.
Reconciliation is to the Group's loss before income tax. No sales between operating segments.
By geography
Geographical information 4 lines
| Item / unit | 2025RMB'000 | 2024RMB'000 | Source |
|---|---|---|---|
| Geographical information | |||
| Revenue – the PRCRMB'000 | 200,327 | 200,096 | PDF p. 184 |
| Non-current assets | |||
| - The PRCRMB'000 | 4,314,682 | 4,330,080 | PDF p. 184 |
| - SingaporeRMB'000 | – | 746 | PDF p. 184 |
| Non-current assets total (unlabelled)RMB'000 | 4,314,682 | 4,330,826 | PDF p. 184 |
Notes
Singapore and Hong Kong operations are principally investment holding; the PRC operations are property development, property investment and facility management.
Revenue of RMB35,252,000 (2024: RMB34,226,000) is derived from a single external customer, attributable to property rental income under property investment segment.
Debt
Borrowings
Note 27(c) Liquidity risk - contractual undiscounted maturity, Group
| Item / unit | 2025Less than 1 year, RMB'000 | 2025Between 1 to 5 years, RMB'000 | 2025Over 5 years, RMB'000 | Source |
|---|---|---|---|---|
| Group 2025 | ||||
| BorrowingsRMB'000 | 1,095,066 | 970,522 | 308,537 | PDF p. 178 |
Notes
Contractual undiscounted cash flows; balances due within 12 months equal carrying amounts.
Note 27(c) Liquidity risk - contractual undiscounted maturity, Group
| Item / unit | 2025Less than 1 year, RMB'000 | 2025Between 1 to 5 years, RMB'000 | 2025Over 5 years, RMB'000 | 2024Less than 1 year, RMB'000 | 2024Between 1 to 5 years, RMB'000 | 2024Over 5 years, RMB'000 | Source |
|---|---|---|---|---|---|---|---|
| Group | |||||||
| BorrowingsRMB'000 | 1,095,066 | 970,522 | 308,537 | 1,034,267 | 1,019,504 | 382,942 | PDF p. 178 |
Notes
Contractual undiscounted cash flows; balances due within 12 months equal carrying amounts.
Borrowing notes 3 tables
Borrowings - Group
| Item / unit | 2025RMB'000 | 2024RMB'000 | Source |
|---|---|---|---|
| Current - floating interest rates | |||
| Bank borrowings (secured)RMB'000 | 111,393 | 92,751 | PDF p. 160 |
| Current - fixed interest rates | |||
| Loans from a related party (unsecured)RMB'000 | 983,673 | 941,516 | PDF p. 160 |
| Current | |||
| Total current borrowingsRMB'000 | 1,095,066 | 1,034,267 | PDF p. 160 |
| Non-current - floating interest rates | |||
| Bank borrowings (secured)RMB'000 | 621,853 | 733,247 | PDF p. 160 |
| Non-current - fixed interest rates | |||
| Loans from a related party (unsecured)RMB'000 | 379,546 | 388,236 | PDF p. 160 |
| Loans from related parties (secured)RMB'000 | 143,000 | 80,000 | PDF p. 160 |
| Non-current | |||
| Total non-current borrowingsRMB'000 | 1,144,399 | 1,201,483 | PDF p. 160 |
| Total borrowings | |||
| TotalRMB'000 | 2,239,465 | 2,235,750 | PDF p. 160 |
Notes
Total current/non-current subtotal rows have no printed label; labels are descriptors.
Borrowings - Company
| Item / unit | 2025RMB'000 | 2024RMB'000 | Source |
|---|---|---|---|
| Current - fixed interest rates | |||
| Loans from a related party (unsecured)RMB'000 | 983,673 | 941,516 | PDF p. 160 |
| Non-current - fixed interest rates | |||
| Loans from a related party (unsecured)RMB'000 | 379,546 | 388,236 | PDF p. 160 |
| Total borrowings | |||
| TotalRMB'000 | 1,363,219 | 1,329,752 | PDF p. 160 |
Weighted effective interest rates
| Item / unit | 2025Group, % | 2024Group, % | 2025Company, % | 2024Company, % | Source |
|---|---|---|---|---|---|
| Weighted effective interest rates | |||||
| Bank borrowings% | 4.29 | 5.58 | – | – | PDF p. 161 |
| Loans from related parties% | 6.67 | 7.02 | 6.72 | 7.07 | PDF p. 161 |
Notes
Repricing exposure: Within 1 year, Group 733,246 (2025), 825,998 (2024) RMB'000.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 – Dividend Policy | The Group does not have a fixed dividend policy at present. No dividend was declared for FY2025 as the Group needs to preserve funds for operating expenses for next financial year. The Group will continue to monitor its cash flow situation and will consider rewarding the shareholders when the conditions are met. | Group, FY2025 | PDF p. 53 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | CLA Global TS Public Accounting Corporation | Group | PDF p. 114 |
| Engagement director | Meriana Ang Mei Ling | Group | PDF p. 114 |
| Opinion | In our opinion, the accompanying consolidated financial statements of the Group and the statement of financial position of the Company are properly drawn up in accordance with the provisions of the Singapore Companies Act 1967 | Group and Company | PDF p. 108 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of investment properties | The Group has a portfolio of investment properties in the People’s Republic of China (the “PRC”) with an aggregate carrying amount of RMB4,275.1 million representing 75.6% of the Group’s total assets as at 31 December 2025. | Group | PDF p. 108 |
| Valuation of development properties | As at 31 December 2025, the carrying amount of development properties is RMB904.9 million representing 16.0% of the Group’s total assets. | Group | PDF p. 109 |
| Provisions and contingent liabilities | Due to the level of judgement relating to recognition, valuation and presentation of provisions and contingent liabilities, this is considered to be a key audit matter. | Group | PDF p. 111 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | the Group was in net current liabilities position of RMB674.1 million as at 31 December 2025 | Group | PDF p. 139 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.