Hotung Investment Holdings Limited Annual Report 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Statements of Financial Position | |||||
| Investments in subsidiariesNTD thousand | – | – | 4,401,085 | 4,416,773 | PDF p. 88 |
| Financial assets at fair value through profit or lossNTD thousand | 4,171,769 | 4,675,669 | – | – | PDF p. 88 |
| Financial assets at amortised costNTD thousand | 6,522 | 6,479 | – | – | PDF p. 88 |
| Property, plant and equipmentNTD thousand | 23,760 | 26,497 | – | – | PDF p. 88 |
| TotalNTD thousand | 4,202,051 | 4,708,645 | 4,401,085 | 4,416,773 | PDF p. 88 |
| Financial assets at fair value through profit or lossNTD thousand | 126,271 | 23,364 | – | – | PDF p. 88 |
| Trade and other receivablesNTD thousand | 20,174 | 13,189 | 2,602 | 1,830 | PDF p. 88 |
| Cash and cash equivalentsNTD thousand | 2,101,951 | 1,877,188 | 76,111 | 109,559 | PDF p. 88 |
| TotalNTD thousand | 2,248,396 | 1,913,741 | 78,713 | 111,389 | PDF p. 88 |
| Total assetsNTD thousand | 6,450,447 | 6,622,386 | 4,479,798 | 4,528,162 | PDF p. 88 |
| Share capitalNTD thousand | 5,233,033 | 5,233,033 | 5,233,033 | 5,233,033 | PDF p. 88 |
| Share premiumNTD thousand | 1,347,887 | 1,347,887 | 1,347,887 | 1,347,887 | PDF p. 88 |
| ReservesNTD thousand | 758,290 | 854,725 | 47,040 | 47,040 | PDF p. 88 |
| Accumulated lossesNTD thousand | (1,352,988) | (1,306,629) | (2,176,843) | (2,128,069) | PDF p. 88 |
| Equity attributable to owners of the CompanyNTD thousand | 5,986,222 | 6,129,016 | 4,451,117 | 4,499,891 | PDF p. 88 |
| Non-controlling interestsNTD thousand | 103,290 | 103,828 | – | – | PDF p. 88 |
| Total equityNTD thousand | 6,089,512 | 6,232,844 | 4,451,117 | 4,499,891 | PDF p. 88 |
| Deferred tax liabilitiesNTD thousand | 179,635 | 222,596 | – | – | PDF p. 88 |
| Trade and other payablesNTD thousand | 11,654 | 18,546 | – | – | PDF p. 88 |
| TotalNTD thousand | 191,289 | 241,142 | – | – | PDF p. 88 |
| Trade and other payablesNTD thousand | 122,160 | 121,993 | 28,681 | 28,271 | PDF p. 88 |
| Income tax payablesNTD thousand | 47,486 | 26,407 | – | – | PDF p. 88 |
| TotalNTD thousand | 169,646 | 148,400 | 28,681 | 28,271 | PDF p. 88 |
| Total liabilitiesNTD thousand | 360,935 | 389,542 | 28,681 | 28,271 | PDF p. 88 |
| Total equity and liabilitiesNTD thousand | 6,450,447 | 6,622,386 | 4,479,798 | 4,528,162 | PDF p. 88 |
Original report: PDF p. 88 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Consolidated Statement of Comprehensive Income | |||
| RevenueNTD thousand | 444,528 | 431,830 | PDF p. 89 |
| Operating expensesNTD thousand | (148,094) | (149,921) | PDF p. 89 |
| Operating profitNTD thousand | 296,434 | 281,909 | PDF p. 89 |
| Finance costsNTD thousand | (242) | (322) | PDF p. 89 |
| Profit before taxNTD thousand | 296,192 | 281,587 | PDF p. 89 |
| Tax expenseNTD thousand | (67,348) | (89,957) | PDF p. 89 |
| Profit for the yearNTD thousand | 228,844 | 191,630 | PDF p. 89 |
| Exchange differences on translation of foreign operations and othersNTD thousand | (101,006) | 170,596 | PDF p. 89 |
| Other comprehensive (losses)/income for the financial year, net of taxNTD thousand | (101,006) | 170,596 | PDF p. 89 |
| Total comprehensive income for the financial yearNTD thousand | 127,838 | 362,226 | PDF p. 89 |
| Owners of the CompanyNTD thousand | 200,050 | 158,188 | PDF p. 89 |
| Non-controlling interestsNTD thousand | 28,794 | 33,442 | PDF p. 89 |
| Total profit attributableNTD thousand | 228,844 | 191,630 | PDF p. 89 |
| Owners of the CompanyNTD thousand | 99,044 | 328,784 | PDF p. 89 |
| Non-controlling interestsNTD thousand | 28,794 | 33,442 | PDF p. 89 |
| Total comprehensive income attributableNTD thousand | 127,838 | 362,226 | PDF p. 89 |
| BasicNTD per share | 2.11 | 1.67 | PDF p. 89 |
| DilutedNTD per share | 2.11 | 1.67 | PDF p. 89 |
Original report: PDF p. 89 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Consolidated Statement of Cash Flows | |||
| Profit after taxNTD thousand | 228,844 | 191,630 | PDF p. 92 |
| Net gains on financial assets at fair value through profit or lossNTD thousand | (305,138) | (301,134) | PDF p. 92 |
| Dividend/distribution incomeNTD thousand | (144,425) | (81,560) | PDF p. 92 |
| Depreciation expenseNTD thousand | 8,551 | 8,235 | PDF p. 92 |
| Finance costsNTD thousand | 242 | 322 | PDF p. 92 |
| Interest incomeNTD thousand | (28,115) | (30,560) | PDF p. 92 |
| Tax expensesNTD thousand | 67,348 | 89,957 | PDF p. 92 |
| TotalNTD thousand | (172,693) | (123,110) | PDF p. 92 |
| Financial assets at fair value through profit or lossNTD thousand | 610,074 | 319,479 | PDF p. 92 |
| Financial assets at amortised costNTD thousand | (287) | – | PDF p. 92 |
| Trade and other receivablesNTD thousand | (13,047) | (1,244) | PDF p. 92 |
| Trade and other payablesNTD thousand | (5,221) | (6,362) | PDF p. 92 |
| Cash from operationsNTD thousand | 418,826 | 188,763 | PDF p. 92 |
| Interest receivedNTD thousand | 28,801 | 42,245 | PDF p. 92 |
| Finance costs paidNTD thousand | (242) | (322) | PDF p. 92 |
| Dividend/distribution income receivedNTD thousand | 144,425 | 81,560 | PDF p. 92 |
| Tax paidNTD thousand | (88,903) | (18,118) | PDF p. 92 |
| Net cash from operating activitiesNTD thousand | 502,907 | 294,128 | PDF p. 92 |
| Acquisition of property, plant and equipmentNTD thousand | (359) | (676) | PDF p. 92 |
| Net cash used in investing activitiesNTD thousand | (359) | (676) | PDF p. 92 |
| Payment of lease liabilitiesNTD thousand | (7,881) | (8,008) | PDF p. 92 |
| Dividend paid to non-controlling shareholders in subsidiariesNTD thousand | (27,991) | (16,793) | PDF p. 92 |
| Dividends paid to shareholders of the CompanyNTD thousand | (241,838) | (241,838) | PDF p. 92 |
| Purchase of treasury sharesNTD thousand | – | (1,533) | PDF p. 92 |
| Net cash used in financing activitiesNTD thousand | (277,710) | (268,172) | PDF p. 92 |
| Net increase in cash and cash equivalentsNTD thousand | 224,838 | 25,280 | PDF p. 92 |
| Cash and cash equivalents at 1 JanuaryNTD thousand | 1,877,188 | 1,817,875 | PDF p. 92 |
| Effect of exchange rate on cash and cash equivalentsNTD thousand | (75) | 34,033 | PDF p. 92 |
| Cash and cash equivalents at 31 DecemberNTD thousand | 2,101,951 | 1,877,188 | PDF p. 92 |
Original report: PDF p. 92 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupShare capital | 2024GroupShare premium | 2024GroupContributed surplus reserve | 2024GroupCurrency translation and other reserve | 2024GroupLegal reserve | 2024GroupSpecial reserve | 2024GroupCapital surplus – net assets from merger | 2024GroupTreasury share reserve | 2024GroupAccumulated losses | 2024GroupSub-total attributable to owners | 2024GroupNon-controlling interests | 2024GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consolidated Statement of Changes in Equity — FY2024 | |||||||||||||
| At 1 January 2024NTD thousand | 5,233,033 | 1,347,887 | 406,116 | (118,931) | 587,946 | 19,801 | 126,667 | (357,543) | (1,201,373) | 6,043,603 | 88,011 | 6,131,614 | PDF p. 90 |
| Total comprehensive income for the year Profit for the yearNTD thousand | – | – | – | – | – | – | – | – | 158,188 | 158,188 | 33,442 | 191,630 | PDF p. 90 |
| Exchange differences on translation of foreign operations and othersNTD thousand | – | – | – | 170,596 | – | – | – | – | – | 170,596 | – | 170,596 | PDF p. 90 |
| Total other comprehensive incomeNTD thousand | – | – | – | 170,596 | – | – | – | – | – | 170,596 | – | 170,596 | PDF p. 90 |
| Total comprehensive income for the yearNTD thousand | – | – | – | 170,596 | – | – | – | – | 158,188 | 328,784 | 33,442 | 362,226 | PDF p. 90 |
| Transactions with owners, recognized directly in equity Contributions by and distributions to owners Transfer to legal reserve of certain subsidiariesNTD thousand | – | – | – | – | 21,606 | – | – | – | (21,606) | – | – | – | PDF p. 90 |
| Shares bought back as treasury sharesNTD thousand | – | – | – | – | – | – | – | (1,533) | – | (1,533) | – | (1,533) | PDF p. 90 |
| Dividends paid to shareholders of the CompanyNTD thousand | – | – | – | – | – | – | – | – | (241,838) | (241,838) | (17,594) | (259,432) | PDF p. 90 |
| Total contributions by and distributions to ownersNTD thousand | – | – | – | – | 21,606 | – | – | (1,533) | (263,444) | (243,371) | (17,594) | (260,965) | PDF p. 90 |
| Changes in ownership interests in subsidiaries Acquisition of non-controlling interests without a change in controlNTD thousand | – | – | – | – | – | – | – | – | – | – | (31) | (31) | PDF p. 90 |
| Total changes in ownership interests in subsidiariesNTD thousand | – | – | – | – | – | – | – | – | – | – | (31) | (31) | PDF p. 90 |
| Total transactions with ownerNTD thousand | – | – | – | – | 21,606 | – | – | (1,533) | (263,444) | (243,371) | (17,625) | (260,996) | PDF p. 90 |
| At 31 December 2024NTD thousand | 5,233,033 | 1,347,887 | 406,116 | 51,665 | 609,552 | 19,801 | 126,667 | (359,076) | (1,306,629) | 6,129,016 | 103,828 | 6,232,844 | PDF p. 90 |
Original report: PDF p. 90 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupShare capital | 2025GroupShare premium | 2025GroupContributed surplus reserve | 2025GroupCurrency translation and other reserve | 2025GroupLegal reserve | 2025GroupSpecial reserve | 2025GroupCapital surplus – net assets from merger | 2025GroupTreasury share reserve | 2025GroupAccumulated losses | 2025GroupSub-total attributable to owners | 2025GroupNon-controlling interests | 2025GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consolidated Statement of Changes in Equity — FY2025 | |||||||||||||
| At 1 January 2025NTD thousand | 5,233,033 | 1,347,887 | 406,116 | 51,665 | 609,552 | 19,801 | 126,667 | (359,076) | (1,306,629) | 6,129,016 | 103,828 | 6,232,844 | PDF p. 91 |
| Total comprehensive income for the year Profit for the yearNTD thousand | – | – | – | – | – | – | – | – | 200,050 | 200,050 | 28,794 | 228,844 | PDF p. 91 |
| Exchange differences on translation of foreign operations and othersNTD thousand | – | – | – | (101,006) | – | – | – | – | – | (101,006) | – | (101,006) | PDF p. 91 |
| Total other comprehensive incomeNTD thousand | – | – | – | (101,006) | – | – | – | – | – | (101,006) | – | (101,006) | PDF p. 91 |
| Total comprehensive income/ (losses) for the yearNTD thousand | – | – | – | (101,006) | – | – | – | – | 200,050 | 99,044 | 28,794 | 127,838 | PDF p. 91 |
| Transactions with owners, recognized directly in equity Contributions by and distributions to owners Transfer to legal reserve of certain subsidiariesNTD thousand | – | – | – | – | 4,571 | – | – | – | (4,571) | – | – | – | PDF p. 91 |
| Dividends paid to shareholders of the CompanyNTD thousand | – | – | – | – | – | – | – | – | (241,838) | (241,838) | (29,332) | (271,170) | PDF p. 91 |
| Total transactions with ownerNTD thousand | – | – | – | – | 4,571 | – | – | – | (246,409) | (241,838) | (29,332) | (271,170) | PDF p. 91 |
| At 31 December 2025NTD thousand | 5,233,033 | 1,347,887 | 406,116 | (49,341) | 614,123 | 19,801 | 126,667 | (359,076) | (1,352,988) | 5,986,222 | 103,290 | 6,089,512 | PDF p. 91 |
Original report: PDF p. 91 ↗
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| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | 2021Group | Source |
|---|---|---|---|---|---|---|
| Five-year financial highlights — SGD translation | ||||||
| RevenueSGD thousand | 18,181 | 17,896 | 13,982 | 10,773 | 50,034 | PDF p. 3 |
| Profit attributable to owners of the CompanySGD thousand | 8,182 | 6,556 | 4,156 | 2,159 | 30,509 | PDF p. 3 |
| Dividend amountSGD thousand —2025 proposed dividend | 9,891 | 10,299 | 10,066 | 10,406 | 22,107 | PDF p. 3 |
| Equity attributable to owners of the CompanySGD thousand | 244,835 | 254,000 | 259,493 | 270,469 | 308,890 | PDF p. 3 |
| Earnings per shareSGD per share | 0.086 | 0.069 | 0.044 | 0.023 | 0.319 | PDF p. 3 |
| Net Asset Value per shareSGD per share | 2.582 | 2.678 | 2.735 | 2.851 | 3.245 | PDF p. 3 |
| Cash Dividend per shareSGD per share —2025 proposed dividend | 0.1043 | 0.1086 | 0.10614 | 0.10968 | 0.233 | PDF p. 3 |
Original report: PDF p. 3 ↗
Where the money comes from
| Item / unit | 2025Investments segment | 2025Fund Management segment | 2025Eliminations | 2025Consolidated | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| External revenueNT$'000 | 449,656 | (5,128) | – | 444,528 | PDF p. 137 |
| Inter-segmental revenueNT$'000 | – | 158,174 | (158,174) | – | PDF p. 137 |
| Total revenueNT$'000 | 449,656 | 153,046 | (158,174) | 444,528 | PDF p. 137 |
| Segment results | |||||
| Interest incomeNT$'000 | 25,046 | 3,069 | – | 28,115 | PDF p. 137 |
| DepreciationNT$'000 | (3,437) | (5,114) | – | (8,551) | PDF p. 137 |
| Finance costsNT$'000 | (120) | (122) | – | (242) | PDF p. 137 |
| Profit before taxNT$'000 | 234,177 | 62,015 | – | 296,192 | PDF p. 137 |
| Tax expensesNT$'000 | (54,412) | (12,936) | – | (67,348) | PDF p. 137 |
| Profit after tax but before non-controlling interestsNT$'000 | 179,765 | 49,079 | – | 228,844 | PDF p. 137 |
| Non-controlling interestsNT$'000 | (11) | (28,783) | – | (28,794) | PDF p. 137 |
| Profit attributable to owners of the CompanyNT$'000 | 179,754 | 20,296 | – | 200,050 | PDF p. 137 |
No inter-segment transactions during the year except management and incentive fees paid from Investments segment entities to the Fund Management subsidiary, eliminated on consolidation.
| Item / unit | 2025Investments segment | 2025Fund Management segment | 2025Eliminations | 2025Consolidated | Source |
|---|---|---|---|---|---|
| Other information | |||||
| Segment assetsNT$'000 | 6,232,220 | 271,736 | (53,509) | 6,450,447 | PDF p. 138 |
| Segment assets includes: Additions to | |||||
| - Property, plant and equipmentNT$'000 | – | 601 | – | 601 | PDF p. 138 |
| - Right-of-use assetsNT$'000 | – | 428 | – | 428 | PDF p. 138 |
| Other information | |||||
| Segment liabilitiesNT$'000 | 98,894 | 88,429 | (53,509) | 133,814 | PDF p. 138 |
| Current income tax liabilityNT$'000 | 39,679 | 7,807 | – | 47,486 | PDF p. 138 |
| Deferred tax liabilityNT$'000 | 179,635 | – | – | 179,635 | PDF p. 138 |
| Total liabilitiesNT$'000 | 318,208 | 96,236 | (53,509) | 360,935 | PDF p. 138 |
| Item / unit | 2024Investments segment | 2024Fund Management segment | 2024Eliminations | 2024Consolidated | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| External revenueNT$'000 | 423,607 | 8,223 | – | 431,830 | PDF p. 138 |
| Inter-segmental revenueNT$'000 | – | 144,844 | (144,844) | – | PDF p. 138 |
| Total revenueNT$'000 | 423,607 | 153,067 | (144,844) | 431,830 | PDF p. 138 |
| Segment results | |||||
| Interest incomeNT$'000 | 26,541 | 4,019 | – | 30,560 | PDF p. 138 |
| DepreciationNT$'000 | (3,438) | (4,797) | – | (8,235) | PDF p. 138 |
| Finance costsNT$'000 | (156) | (166) | – | (322) | PDF p. 138 |
| Profit before taxNT$'000 | 214,670 | 66,917 | – | 281,587 | PDF p. 138 |
| Tax expensesNT$'000 | (80,044) | (9,913) | – | (89,957) | PDF p. 138 |
| Profit after tax but before non-controlling interestsNT$'000 | 134,626 | 57,004 | – | 191,630 | PDF p. 138 |
| Non-controlling interestsNT$'000 | (11) | (33,431) | – | (33,442) | PDF p. 138 |
| Profit attributable to owners of the CompanyNT$'000 | 134,615 | 23,573 | – | 158,188 | PDF p. 138 |
| Other information | |||||
| Segment assetsNT$'000 | 6,382,118 | 279,663 | (39,395) | 6,622,386 | PDF p. 138 |
| Segment assets includes | |||||
| Additions to property,plant and equipmentNT$'000 | – | 676 | – | 676 | PDF p. 138 |
| Other information | |||||
| Segment liabilitiesNT$'000 | 83,543 | 96,391 | (39,395) | 140,539 | PDF p. 138 |
| Current income tax liabilityNT$'000 | 19,554 | 6,853 | – | 26,407 | PDF p. 138 |
| Deferred tax liabilityNT$'000 | 222,596 | – | – | 222,596 | PDF p. 138 |
| Total liabilitiesNT$'000 | 325,693 | 103,244 | (39,395) | 389,542 | PDF p. 138 |
| Item / unit | 2025Group revenue by geography | 2024Group revenue by geography | Source |
|---|---|---|---|
| Revenue | |||
| TaiwanNT$'000 | 173,900 | 440,062 | PDF p. 139 |
| ChinaNT$'000 | 1,633 | 35,103 | PDF p. 139 |
| IsraelNT$'000 | 40,862 | (20,594) | PDF p. 139 |
| United States and United KingdomNT$'000 | 217,507 | (14,014) | PDF p. 139 |
| Other countriesNT$'000 | 10,626 | (8,727) | PDF p. 139 |
| Total (unlabelled)NT$'000 | 444,528 | 431,830 | PDF p. 139 |
Total row has no printed label. Income from sales of investments and securities trading is segregated based on the geographies in which the investee shares are quoted or traded.
| Item / unit | 2025end of period | 2024end of period | Source |
|---|---|---|---|
| Investments at fair value through profit or loss | |||
| TaiwanNT$'000 | 1,871,532 | 2,237,467 | PDF p. 139 |
| ChinaNT$'000 | 940,061 | 1,083,042 | PDF p. 139 |
| IsraelNT$'000 | 909,753 | 998,457 | PDF p. 139 |
| United StatesNT$'000 | 317,550 | 323,337 | PDF p. 139 |
| Other countriesNT$'000 | 259,144 | 56,730 | PDF p. 139 |
| Total (unlabelled)NT$'000 | 4,298,040 | 4,699,033 | PDF p. 139 |
Total row has no printed label. Investments are segregated on the basis of where quoted/traded, otherwise investee/fund manager principal places of business.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company reviews the dividend policy annually depending on the Group’s cash and operational needs. | Company | PDF p. 49 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| NT$2.55 per ordinary share (2024: NT$2.55) | 2.55 NT$ per share | Group and Company, proposed after reporting period, FY2025 (final) | PDF p. 129 |
| NT$2.55 per ordinary share (2024: NT$2.55) | 2.55 NT$ per share | Group and Company, ordinary dividends paid during 2025 (comparative 2024: NT$2.55) | PDF p. 129 |
| Cash Dividend per share | 0.1043 S$ per share | 2025 proposed; comparative 2024: 0.1086 | PDF p. 3 |
Extracted from Hotung Investment Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| KPMG LLP | KPMG LLP | Group | PDF p. 87 |
| engagement partner | Hong Cho Hor Ian | Group | PDF p. 87 |
| Opinion | give a true and fair view | Group and Company, year ended 31 December 2025 | PDF p. 83 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of unquoted investments | Valuation of unquoted investments (NT$3,863 million) | Group | PDF p. 84 |
Extracted from Hotung Investment Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
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 Hotung Investment Holdings Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Financial statements are presented in New Taiwan dollars, rounded to thousands unless per-share units state otherwise. FY ends31December.
NCI dividends in the equity statement differ from cash-flow payments (2025:29,332 versus27,991;2024:17,594 versus16,793), all NTD thousand. Both original presentations are retained; no explanation is inferred.
Five-year highlights are the report’s SGD translations, distinct from audited NTD statements. All figures use each year’s closing exchange rate except2021–2024 dividend amount and dividend per share. FY2025 dividend amount9,891 SGDthousand and0.1043 SGDper-share are proposed based on31December2025 shares and closing exchange rate. Board recommendationNTD2.55 per share is subject to2026AGM approval; actual distribution uses2026record-date outstanding shares and an exchange rate announced with the distribution. These are not confirmed paid dividends.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.