TCIL HK$ T15
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Financials
TAN CHONG INTERNATIONAL LIMITED ANNUAL REPORT 2025
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9 tablesConsolidated Statement of Profit or Loss
17 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$’000 | 12,044,085 | 12,698,567 | PDF p. 49 |
| Cost of sales$’000 | (9,612,907) | (10,181,403) | PDF p. 49 |
| Subtotal$’000 | 2,431,178 | 2,517,164 | PDF p. 49 |
| Other net income$’000 | 251,548 | 721,265 | PDF p. 49 |
| Distribution costs$’000 | (883,055) | (1,015,604) | PDF p. 49 |
| Administrative expenses$’000 | (987,292) | (1,029,476) | PDF p. 49 |
| Other operating expenses$’000 | (70,587) | (103,047) | PDF p. 49 |
| Subtotal$’000 | 741,792 | 1,090,302 | PDF p. 49 |
| Financing costs$’000 | (179,643) | (209,339) | PDF p. 49 |
| Share of profit of an associate$’000 | 5,414 | 5,767 | PDF p. 49 |
| Subtotal$’000 | 567,563 | 886,730 | PDF p. 49 |
| Income tax expense$’000 | (249,430) | (277,243) | PDF p. 49 |
| Subtotal$’000 | 318,133 | 609,487 | PDF p. 49 |
| Attributable to | |||
| Equity shareholders of the Company$’000 | 143,594 | 479,285 | PDF p. 49 |
| Non-controlling interests$’000 | 174,539 | 130,202 | PDF p. 49 |
| Subtotal$’000 | 318,133 | 609,487 | PDF p. 49 |
| Earnings per share | |||
| Basic and diluted (cents)cents per share | 7.13 | 23.81 | PDF p. 49 |
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Definitions & sources
Original report: PDF p. 49 ↗
The statement says it is expressed in Hong Kong dollars. Notes on pages 56 to 142 form part of the financial statements. Dividends payable to equity shareholders attributable to the profit for the year are set out in note 32(c).
Consolidated Statement of Profit or Loss and Other Comprehensive Income
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| Profit for the year$’000 | 318,133 | 609,487 | PDF p. 50 |
| Other comprehensive income; items that will not be reclassified to profit or loss | |||
| Remeasurement of net defined benefit retirement obligations$’000 | 16,563 | 18,823 | PDF p. 50 |
| Equity investments designated at fair value through other comprehensive income - net movement in fair value reserves (non-recycling) during the year$’000 | 326,915 | (29,290) | PDF p. 50 |
| Surplus on revaluation of buildings upon transfer to investment properties$’000 | 5,438 | – | PDF p. 50 |
| Subtotal$’000 | 348,916 | (10,467) | PDF p. 50 |
| Other comprehensive income; items that may be or are reclassified subsequently to profit or loss; exchange differences on translation of financial statements of | |||
| - subsidiaries outside Hong Kong$’000 | 388,870 | (494,756) | PDF p. 50 |
| - an associate outside Hong Kong$’000 | (388) | (1,067) | PDF p. 50 |
| Other comprehensive income; items that may be or are reclassified subsequently to profit or loss | |||
| Reclassification of translation reserve upon disposal of subsidiaries$’000 | – | 271 | PDF p. 50 |
| Subtotal$’000 | 388,482 | (495,552) | PDF p. 50 |
| Comprehensive income | |||
| Other comprehensive income for the year$’000 | 737,398 | (506,019) | PDF p. 50 |
| Total comprehensive income for the year$’000 | 1,055,531 | 103,468 | PDF p. 50 |
| Attributable to | |||
| Equity shareholders of the Company$’000 | 866,230 | 67,625 | PDF p. 50 |
| Non-controlling interests$’000 | 189,301 | 35,843 | PDF p. 50 |
| Total comprehensive income for the year$’000 | 1,055,531 | 103,468 | PDF p. 50 |
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Definitions & sources
Original report: PDF p. 50 ↗
The statement describes other comprehensive income as after tax and reclassification adjustments. Items that will not be reclassified to profit or loss: (i) Remeasurement of net defined benefit retirement obligations; (ii) Equity investments designated at fair value through other comprehensive income - net movement in fair value reserves (non-recycling) during the year; (iii) Surplus on revaluation of buildings upon transfer to investment properties. Items that may be or are reclassified subsequently to profit or loss: exchange differences on translation of financial statements of subsidiaries outside Hong Kong and an associate outside Hong Kong; reclassification of translation reserve upon disposal of subsidiaries. Notes on pages 56 to 142 form part of the financial statements.
Consolidated Statement of Financial Position — assets
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current assets | |||
| Investment properties$’000 | 4,935,162 | 4,505,162 | PDF p. 51 |
| Property, plant and equipment$’000 | 5,448,000 | 5,509,974 | PDF p. 51 |
| Intangible assets$’000 | 166,843 | 158,941 | PDF p. 51 |
| Goodwill$’000 | 46,485 | 69,342 | PDF p. 51 |
| Interest in an associate$’000 | 59,547 | 69,521 | PDF p. 51 |
| Investments designated as at fair value through other comprehensive income$’000 | 1,668,935 | 1,648,105 | PDF p. 51 |
| Loans and advances$’000 | 2,472,014 | 2,188,682 | PDF p. 51 |
| Receivables, deposits and prepayments$’000 | 192,675 | 159,001 | PDF p. 51 |
| Deferred tax assets$’000 | 78,580 | 92,096 | PDF p. 51 |
| Subtotal$’000 | 15,068,241 | 14,400,824 | PDF p. 51 |
| Current assets | |||
| Inventories$’000 | 1,512,885 | 2,192,689 | PDF p. 51 |
| Trade debtors$’000 | 871,567 | 948,390 | PDF p. 51 |
| Loans and advances$’000 | 3,024,926 | 3,132,532 | PDF p. 51 |
| Other debtors, deposits and prepayments$’000 | 701,290 | 762,817 | PDF p. 51 |
| Amounts due from related companies$’000 | 117 | 67 | PDF p. 51 |
| Cash and bank balances$’000 | 2,517,101 | 2,242,933 | PDF p. 51 |
| Subtotal$’000 | 8,627,886 | 9,279,428 | PDF p. 51 |
| Non-current assets held for sale$’000 | 77,259 | – | PDF p. 51 |
| Subtotal$’000 | 8,705,145 | 9,279,428 | PDF p. 51 |
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Definitions & sources
Original report: PDF p. 51 ↗
The statement is expressed in Hong Kong dollars. It continues on physical page 52.
Consolidated Statement of Financial Position — liabilities and equity
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Current liabilities | |||
| Unsecured bank overdrafts$’000 | 186,375 | 352,832 | PDF p. 52 |
| Borrowings$’000 | 5,565,237 | 4,825,116 | PDF p. 52 |
| Trade creditors$’000 | 758,015 | 844,416 | PDF p. 52 |
| Other creditors and accruals$’000 | 1,032,797 | 1,378,307 | PDF p. 52 |
| Amounts due to related companies$’000 | 1,177 | 91 | PDF p. 52 |
| Lease liabilities$’000 | 197,916 | 197,056 | PDF p. 52 |
| Current taxation$’000 | 110,869 | 108,078 | PDF p. 52 |
| Provisions$’000 | 12,294 | 7,970 | PDF p. 52 |
| Subtotal$’000 | 7,864,680 | 7,713,866 | PDF p. 52 |
| Balance sheet | |||
| Net current assets$’000 | 840,465 | 1,565,562 | PDF p. 52 |
| Total assets less current liabilities$’000 | 15,908,706 | 15,966,386 | PDF p. 52 |
| Non-current liabilities | |||
| Borrowings$’000 | 2,142,311 | 2,937,054 | PDF p. 52 |
| Lease liabilities$’000 | 371,767 | 475,790 | PDF p. 52 |
| Defined benefit plan obligations$’000 | 49,606 | 50,341 | PDF p. 52 |
| Deferred tax liabilities$’000 | 288,649 | 281,276 | PDF p. 52 |
| Provisions$’000 | 42,071 | 53,221 | PDF p. 52 |
| Subtotal$’000 | 2,894,404 | 3,797,682 | PDF p. 52 |
| Balance sheet | |||
| NET ASSETS$’000 | 13,014,302 | 12,168,704 | PDF p. 52 |
| Capital and reserves | |||
| Share capital$’000 | 1,006,655 | 1,006,655 | PDF p. 52 |
| Reserves$’000 | 10,763,330 | 10,046,017 | PDF p. 52 |
| Total equity attributable to equity shareholders of the Company$’000 | 11,769,985 | 11,052,672 | PDF p. 52 |
| Non-controlling interests$’000 | 1,244,317 | 1,116,032 | PDF p. 52 |
| TOTAL EQUITY$’000 | 13,014,302 | 12,168,704 | PDF p. 52 |
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Definitions & sources
Original report: PDF p. 52 ↗
The statement is a continuation from physical page 51. It states the financial statements were approved and authorised for issue by the board on 30 March 2026.
Company-level statement of financial position
13 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Non-current assets | |||
| Investments in subsidiaries$’000 | 2,342,961 | 2,342,961 | PDF p. 140 |
| Current assets | |||
| Amounts due from subsidiaries$’000 | 357,082 | 357,325 | PDF p. 140 |
| Other debtors, deposits and prepayments$’000 | 375 | 129 | PDF p. 140 |
| Cash and cash equivalents$’000 | 20,497 | 19,327 | PDF p. 140 |
| Subtotal$’000 | 377,954 | 376,781 | PDF p. 140 |
| Current liabilities | |||
| Other creditors and accruals$’000 | 25,420 | 24,715 | PDF p. 140 |
| Amounts due to subsidiaries$’000 | 332,599 | 337,113 | PDF p. 140 |
| Subtotal$’000 | 358,019 | 361,828 | PDF p. 140 |
| Balance sheet | |||
| Net current assets$’000 | 19,935 | 14,953 | PDF p. 140 |
| NET ASSETS$’000 | 2,362,896 | 2,357,914 | PDF p. 140 |
| Capital and reserves | |||
| Share capital$’000 | 1,006,655 | 1,006,655 | PDF p. 140 |
| Reserves$’000 | 1,356,241 | 1,351,259 | PDF p. 140 |
| TOTAL EQUITY$’000 | 2,362,896 | 2,357,914 | PDF p. 140 |
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Definitions & sources
Original report: PDF p. 140 ↗
This is a company-level statement of financial position included in the notes to the consolidated financial statements. It is expressed in Hong Kong dollars unless otherwise indicated.
Consolidated Statement of Profit or Loss and Other Comprehensive Income
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; HK$’000 | 2024Group; HK$’000 | Source |
|---|---|---|---|
| Profit or loss | |||
| Profit for the yearHK$’000 | 318,133 | 609,487 | PDF p. 50 |
| Other comprehensive income; items that will not be reclassified to profit or loss | |||
| Remeasurement of net defined benefit retirement obligationsHK$’000 | 16,563 | 18,823 | PDF p. 50 |
| Equity investments designated at fair value through other comprehensive income - net movement in fair value reserves (non-recycling) during the yearHK$’000 | 326,915 | (29,290) | PDF p. 50 |
| Surplus on revaluation of buildings upon transfer to investment propertiesHK$’000 | 5,438 | – | PDF p. 50 |
| Other comprehensive income; items that will not be reclassified to profit or loss subtotal | |||
| Other comprehensive income for the yearHK$’000 | 348,916 | (10,467) | PDF p. 50 |
| Other comprehensive income; items that may be or are reclassified subsequently to profit or loss | |||
| Exchange differences on translation of financial statements of subsidiaries outside Hong KongHK$’000 | 388,870 | (494,756) | PDF p. 50 |
| Exchange differences on translation of financial statements of an associate outside Hong KongHK$’000 | (388) | (1,067) | PDF p. 50 |
| Reclassification of translation reserve upon disposal of subsidiariesHK$’000 | – | 271 | PDF p. 50 |
| Other comprehensive income; items that may be or are reclassified subsequently to profit or loss subtotal | |||
| Other comprehensive income for the yearHK$’000 | 388,482 | (495,552) | PDF p. 50 |
| Total other comprehensive income | |||
| Other comprehensive income for the yearHK$’000 | 737,398 | (506,019) | PDF p. 50 |
| Total comprehensive income | |||
| Total comprehensive income for the yearHK$’000 | 1,055,531 | 103,468 | PDF p. 50 |
| Attributable to; total comprehensive income | |||
| Equity shareholders of the CompanyHK$’000 | 866,230 | 67,625 | PDF p. 50 |
| Non-controlling interestsHK$’000 | 189,301 | 35,843 | PDF p. 50 |
| Total comprehensive income for the yearHK$’000 | 1,055,531 | 103,468 | PDF p. 50 |
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Definitions & sources
Original report: PDF p. 50 ↗
Other comprehensive income is after tax and reclassification adjustments.
The notes on pages 56 to 142 form part of these financial statements.
Consolidated Cash Flow Statement
57 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; HK$’000 | 2024Group; HK$’000 | Source |
|---|---|---|---|
| Operating activities | |||
| Profit from operationsHK$’000 | 741,792 | 1,090,302 | PDF p. 54 |
| Operating activities; adjustments | |||
| DepreciationHK$’000 | 706,778 | 692,127 | PDF p. 54 |
| Amortisation for intangible assetsHK$’000 | 23,944 | 17,478 | PDF p. 54 |
| Gain on disposal of property, plant and equipmentHK$’000 | (18,628) | (13,775) | PDF p. 54 |
| Valuation gain on investment properties, netHK$’000 | (108,917) | (629,521) | PDF p. 54 |
| Bank and other interest incomeHK$’000 | (19,654) | (25,280) | PDF p. 54 |
| Dividend incomeHK$’000 | (65,940) | (54,944) | PDF p. 54 |
| Loss on disposal of a subsidiaryHK$’000 | – | 5,484 | PDF p. 54 |
| Provision of write-down of inventories (net)HK$’000 | 9,710 | 66,005 | PDF p. 54 |
| Provision/(reversal) of impairment losses on trade debtorsHK$’000 | 1,609 | (4,262) | PDF p. 54 |
| Provision of impairment loss on loans and advancesHK$’000 | 23,517 | 26,483 | PDF p. 54 |
| Impairment loss of the right-of-use assetsHK$’000 | – | 36,775 | PDF p. 54 |
| Loss on sale of equity securities listed outside Hong KongHK$’000 | – | 5 | PDF p. 54 |
| Fair value gain on financial assets measured at fair value through profit or lossHK$’000 | (382) | – | PDF p. 54 |
| Share based payment expensesHK$’000 | 6,195 | 4,551 | PDF p. 54 |
| Net foreign exchange (gain)/lossHK$’000 | (42,684) | 10,609 | PDF p. 54 |
| Loss on disposal of intangible assetsHK$’000 | 2,291 | 2,496 | PDF p. 54 |
| Impairment loss of goodwillHK$’000 | 27,188 | – | PDF p. 54 |
| Operating activities | |||
| Operating profit before changes in working capitalHK$’000 | 1,286,819 | 1,224,533 | PDF p. 54 |
| Operating activities; changes in working capital | |||
| Decrease/(increase) in inventoriesHK$’000 | 757,096 | (85,123) | PDF p. 54 |
| Decrease/(increase) in trade debtorsHK$’000 | 83,876 | (6,071) | PDF p. 54 |
| Decrease/(increase) in loan and advancesHK$’000 | 126,007 | (95,834) | PDF p. 54 |
| Decrease/(increase) in other debtors, deposits and prepaymentsHK$’000 | 71,705 | (1,391) | PDF p. 54 |
| Increase in amounts due from related companiesHK$’000 | (46) | (5) | PDF p. 54 |
| Decrease in trade creditorsHK$’000 | (121,455) | (35,695) | PDF p. 54 |
| (Decrease)/increase in other creditors and accrualsHK$’000 | (407,921) | 253,954 | PDF p. 54 |
| Increase/(decrease) in amounts due to related companiesHK$’000 | 1,077 | (11,123) | PDF p. 54 |
| Increase in net defined benefit retirement obligationsHK$’000 | 15,822 | 18,232 | PDF p. 54 |
| Operating activities | |||
| Cash generated from operationsHK$’000 | 1,812,980 | 1,261,477 | PDF p. 54 |
| Interest paidHK$’000 | (165,843) | (194,716) | PDF p. 54 |
| Taxes paidHK$’000 | (240,262) | (279,244) | PDF p. 54 |
| Net cash generated from operating activitiesHK$’000 | 1,406,875 | 787,517 | PDF p. 54 |
| Investing activities | |||
| Payment for the purchase of property, plant and equipmentHK$’000 | (481,127) | (622,492) | PDF p. 55 |
| Payment for the purchase of investment propertiesHK$’000 | (36,034) | (50,740) | PDF p. 55 |
| Payment for purchase of unlisted equity securitiesHK$’000 | (56) | (5,956) | PDF p. 55 |
| Payment for the additions to intangible assetsHK$’000 | (32,216) | (37,752) | PDF p. 55 |
| Increase in other debtors, deposits and prepaymentsHK$’000 | (32,155) | (33,300) | PDF p. 55 |
| Decrease/(increase) in fixed deposits at banks with maturity over three monthsHK$’000 | 2,551 | (14,845) | PDF p. 55 |
| Proceeds from disposal of property, plant and equipmentHK$’000 | 116,924 | 98,962 | PDF p. 55 |
| Proceeds from disposal of a subsidiaryHK$’000 | – | 4,685 | PDF p. 55 |
| Proceeds from sales of equity securities listed outside Hong KongHK$’000 | 309,819 | 4,191 | PDF p. 55 |
| Dividends received from an associateHK$’000 | 15,000 | 11,000 | PDF p. 55 |
| Dividends received from equity securities listed outside Hong KongHK$’000 | 65,940 | 54,944 | PDF p. 55 |
| Net cash outflow from acquisition of subsidiaries under business combinationsHK$’000 | (12,875) | – | PDF p. 55 |
| Interest receivedHK$’000 | 19,654 | 25,280 | PDF p. 55 |
| Net cash used in investing activitiesHK$’000 | (64,575) | (566,023) | PDF p. 55 |
| Financing activities | |||
| Repayment of borrowingsHK$’000 | (4,342,042) | (4,436,033) | PDF p. 55 |
| Proceeds from new borrowingsHK$’000 | 3,831,581 | 5,071,067 | PDF p. 55 |
| Dividends paid to shareholdersHK$’000 | (150,998) | (130,865) | PDF p. 55 |
| Dividends paid to non-controlling shareholders of subsidiariesHK$’000 | (62,902) | (39,155) | PDF p. 55 |
| Interest element of lease rentals paidHK$’000 | (13,800) | (14,623) | PDF p. 55 |
| Capital element of lease rentals paidHK$’000 | (221,650) | (226,906) | PDF p. 55 |
| Net cash (used in)/generated from financing activitiesHK$’000 | (959,811) | 223,485 | PDF p. 55 |
| Cash and cash equivalents | |||
| Net increase in cash and cash equivalentsHK$’000 | 382,489 | 444,979 | PDF p. 55 |
| Cash and cash equivalents at 1 JanuaryHK$’000 | 1,854,338 | 1,432,835 | PDF p. 55 |
| Effect of foreign exchange rate changesHK$’000 | 60,683 | (23,476) | PDF p. 55 |
| Cash and cash equivalents at 31 DecemberHK$’000 | 2,297,510 | 1,854,338 | PDF p. 55 |
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Original report: PDF p. 54 ↗ PDF p. 55 ↗
The notes on pages 56 to 142 form part of these financial statements.
Consolidated Statement of Changes in Equity
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; HK$’000; Share capital | 2025Group; HK$’000; Share premium | 2025Group; HK$’000; Capital reserve | 2025Group; HK$’000; Stock compensation reserve | 2025Group; HK$’000; Translation reserve | 2025Group; HK$’000; Contributed surplus | 2025Group; HK$’000; Fair value reserve (non-recycling) | 2025Group; HK$’000; Property revaluation reserve | 2025Group; HK$’000; Retained profits | 2025Group; HK$’000; Total attributable to equity shareholders | 2025Group; HK$’000; Non-controlling interests | 2025Group; HK$’000; Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening equity | |||||||||||||
| Balance at 1 January 2025HK$’000 | 1,006,655 | 550,547 | 9,549 | 14,964 | 51,122 | 377,690 | 1,143,109 | 1,821 | 7,897,215 | 11,052,672 | 1,116,032 | 12,168,704 | PDF p. 53 |
| Changes in equity for 2025 | |||||||||||||
| Profit for the yearHK$’000 | – | – | – | – | – | – | – | – | 143,594 | 143,594 | 174,539 | 318,133 | PDF p. 53 |
| Other comprehensive incomeHK$’000 | – | – | – | – | 385,586 | – | 322,925 | 5,438 | 8,687 | 722,636 | 14,762 | 737,398 | PDF p. 53 |
| Total comprehensive income for the yearHK$’000 | – | – | – | – | 385,586 | – | 322,925 | 5,438 | 152,281 | 866,230 | 189,301 | 1,055,531 | PDF p. 53 |
| Equity-settled share based transactionsHK$’000 | – | – | – | 2,081 | – | – | – | – | – | 2,081 | 1,886 | 3,967 | PDF p. 53 |
| Dividends declared and approved during the year (note 32(c))HK$’000 | – | – | – | – | – | – | – | – | (150,998) | (150,998) | – | (150,998) | PDF p. 53 |
| Dividends paid by non-wholly owned subsidiaries to non-controlling interestsHK$’000 | – | – | – | – | – | – | – | – | – | – | (62,902) | (62,902) | PDF p. 53 |
| Realised gain on disposal of equity investments designated at fair value through other comprehensive income (“FVOCI”)HK$’000 | – | – | – | – | – | – | (235,591) | – | 235,591 | – | – | – | PDF p. 53 |
| Closing equity | |||||||||||||
| Balance at 31 December 2025HK$’000 | 1,006,655 | 550,547 | 9,549 | 17,045 | 436,708 | 377,690 | 1,230,443 | 7,259 | 8,134,089 | 11,769,985 | 1,244,317 | 13,014,302 | PDF p. 53 |
| Opening equity | |||||||||||||
| Balance at 1 January 2024HK$’000 | 1,006,655 | 550,547 | 9,549 | 13,491 | 449,654 | 377,690 | 1,173,103 | 1,821 | 7,446,775 | 11,029,285 | 1,209,676 | 12,238,961 | PDF p. 53 |
| Changes in equity for 2024 | |||||||||||||
| Profit for the yearHK$’000 | – | – | – | – | – | – | – | – | 479,285 | 479,285 | 130,202 | 609,487 | PDF p. 53 |
| Other comprehensive incomeHK$’000 | – | – | – | – | (391,789) | – | (29,743) | – | 9,872 | (411,660) | (94,359) | (506,019) | PDF p. 53 |
| Total comprehensive income for the yearHK$’000 | – | – | – | – | (391,789) | – | (29,743) | – | 489,157 | 67,625 | 35,843 | 103,468 | PDF p. 53 |
| Equity-settled share based transactionsHK$’000 | – | – | – | 1,518 | – | – | – | – | – | 1,518 | 1,376 | 2,894 | PDF p. 53 |
| Dividends declared and approved during the year (note 32(c))HK$’000 | – | – | – | – | – | – | – | – | (130,865) | (130,865) | – | (130,865) | PDF p. 53 |
| Dividends paid by non-wholly owned subsidiaries to non-controlling interestsHK$’000 | – | – | – | – | – | – | – | – | – | – | (39,155) | (39,155) | PDF p. 53 |
| Disposal of a non-wholly owned subsidiaryHK$’000 | – | – | – | – | – | – | – | – | – | – | (6,599) | (6,599) | PDF p. 53 |
| Amounts transferred from non-controlling interests to retained earnings due to step acquisitionsHK$’000 | – | – | – | (45) | (6,743) | – | (205) | – | 92,102 | 85,109 | (85,109) | – | PDF p. 53 |
| Realised gain on disposal of equity investments designated at fair value through other comprehensive income (“FVOCI”)HK$’000 | – | – | – | – | – | – | (46) | – | 46 | – | – | – | PDF p. 53 |
| Closing equity | |||||||||||||
| Balance at 31 December 2024HK$’000 | 1,006,655 | 550,547 | 9,549 | 14,964 | 51,122 | 377,690 | 1,143,109 | 1,821 | 7,897,215 | 11,052,672 | 1,116,032 | 12,168,704 | PDF p. 53 |
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Original report: PDF p. 53 ↗
The notes on pages 56 to 142 form part of these financial statements.
Financial summary — results and assets and liabilities
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Results | ||||||
| Revenue$’000 | 11,864,957 | 13,478,667 | 13,825,660 | 12,698,567 | 12,044,085 | PDF p. 142 |
| Profit from operations$’000 | 646,229 | 839,225 | 857,884 | 1,090,302 | 741,792 | PDF p. 142 |
| Financing costs$’000 | (58,036) | (105,424) | (217,472) | (209,339) | (179,643) | PDF p. 142 |
| Share of profits of associates$’000 | 69,896 | 42,014 | 5,436 | 5,767 | 5,414 | PDF p. 142 |
| Profit before taxation$’000 | 658,089 | 775,815 | 645,848 | 886,730 | 567,563 | PDF p. 142 |
| Income tax expense$’000 | (204,213) | (265,151) | (265,268) | (277,243) | (249,430) | PDF p. 142 |
| Profit for the year$’000 | 453,876 | 510,664 | 380,580 | 609,487 | 318,133 | PDF p. 142 |
| Attributable to | ||||||
| Equity shareholders of the Company$’000 | 378,098 | 418,073 | 280,330 | 479,285 | 143,594 | PDF p. 142 |
| Non-controlling interests$’000 | 75,778 | 92,591 | 100,250 | 130,202 | 174,539 | PDF p. 142 |
| Profit for the year$’000 | 453,876 | 510,664 | 380,580 | 609,487 | 318,133 | PDF p. 142 |
| Assets and liabilities | ||||||
| Investment properties and other property plant and equipment$’000 | 8,876,690 | 9,399,616 | 9,605,685 | 10,015,136 | 10,383,162 | PDF p. 142 |
| Intangible assets$’000 | 53,469 | 39,250 | 99,086 | 158,941 | 166,843 | PDF p. 142 |
| Goodwill$’000 | 31,769 | 79,498 | 115,066 | 69,342 | 46,485 | PDF p. 142 |
| Interests in associates$’000 | 896,967 | 81,890 | 75,821 | 69,521 | 59,547 | PDF p. 142 |
| Other non-current assets$’000 | 1,981,612 | 3,480,965 | 3,903,755 | 4,087,884 | 4,412,204 | PDF p. 142 |
| Net current assets$’000 | 2,036,342 | 1,506,331 | 2,002,862 | 1,565,562 | 840,465 | PDF p. 142 |
| Total assets less current liabilities$’000 | 13,876,849 | 14,587,550 | 15,802,275 | 15,966,386 | 15,908,706 | PDF p. 142 |
| Non-current liabilities$’000 | (1,793,003) | (2,700,970) | (3,563,314) | (3,797,682) | (2,894,404) | PDF p. 142 |
| Total equity$’000 | 12,083,846 | 11,886,580 | 12,238,961 | 12,168,704 | 13,014,302 | PDF p. 142 |
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Definitions & sources
Original report: PDF p. 142 ↗
The summary is stated in Hong Kong dollars. The printed unit is $’000.
Page 142 note (i): “The amount of diluted earnings per share is the same as the basic earnings per share as there were no dilutive securities outstanding during the years presented.”
Where the money comes from
Segment information
By business
Note 37(c) Reconciliation of reportable segment profit or loss (HK$'000) 6 lines
| Item / unit | 2025Consolidated | 2024Consolidated | Source |
|---|---|---|---|
| Reconciliation | |||
| Total segment EBITDA$'000 | 1,452,860 | 1,774,627 | PDF p. 139 |
| Depreciation and amortisation$'000 | (730,722) | (709,605) | PDF p. 139 |
| Interest income$'000 | 19,654 | 25,280 | PDF p. 139 |
| Finance costs$'000 | (179,643) | (209,339) | PDF p. 139 |
| Share of profit of an associate$'000 | 5,414 | 5,767 | PDF p. 139 |
| Consolidated profit before taxation$'000 | 567,563 | 886,730 | PDF p. 139 |
Notes
Expressed in Hong Kong dollars.
By geography
Note 37(b) Segment results – revenue and EBITDA by reportable segment and geography (HK$'000) 17 lines
| Item / unit | 2025Motor vehicle distribution and dealership business | 2024Motor vehicle distribution and dealership business | 2025Heavy commercial vehicle, industrial equipment distribution and dealership business | 2024Heavy commercial vehicle, industrial equipment distribution and dealership business | 2025Property rentals and development | 2024Property rentals and development | 2025Transportation | 2024Transportation | 2025Other operations | 2024Other operations | 2025Consolidated | 2024Consolidated | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Disaggregated by timing of revenue recognition | |||||||||||||
| Point in time$'000 | 2,870,683 | 3,477,891 | 48,044 | 59,785 | – | – | – | – | 153,605 | 280,287 | 3,072,332 | 3,817,963 | PDF p. 138 |
| Over time$'000 | 287,285 | 322,250 | 72,632 | 63,700 | 120,728 | 128,337 | 7,541,693 | 7,453,319 | 949,415 | 912,998 | 8,971,753 | 8,880,604 | PDF p. 138 |
| Revenue from external customers | |||||||||||||
| – Singapore$'000 | 1,254,536 | 1,333,399 | 48,782 | 45,319 | 116,939 | 126,805 | – | – | 766,879 | 789,500 | 2,187,136 | 2,295,023 | PDF p. 138 |
| – PRC$'000 | 78,115 | 134,780 | – | – | – | – | – | – | 313,789 | 386,676 | 391,904 | 521,456 | PDF p. 138 |
| – Thailand$'000 | 298,589 | 253,378 | 39,326 | 48,756 | – | – | – | – | 5,996 | 7,345 | 343,911 | 309,479 | PDF p. 138 |
| – Japan$'000 | – | – | – | – | – | – | 7,541,693 | 7,453,319 | – | – | 7,541,693 | 7,453,319 | PDF p. 138 |
| – Taiwan$'000 | 663,829 | 840,429 | – | – | – | – | – | – | – | – | 663,829 | 840,429 | PDF p. 138 |
| – Others$'000 | 862,899 | 1,238,155 | 32,568 | 29,410 | 3,789 | 1,532 | – | – | 16,356 | 9,764 | 915,612 | 1,278,861 | PDF p. 138 |
| Revenue from external customers total (unlabelled)$'000 | 3,157,968 | 3,800,141 | 120,676 | 123,485 | 120,728 | 128,337 | 7,541,693 | 7,453,319 | 1,103,020 | 1,193,285 | 12,044,085 | 12,698,567 | PDF p. 138 |
| EBITDA | |||||||||||||
| – Singapore$'000 | (39,790) | 23,998 | 16,030 | 15,289 | 182,635 | 698,721 | – | – | 449,339 | 390,768 | 608,214 | 1,128,776 | PDF p. 138 |
| – PRC$'000 | 1,393 | (5,061) | – | – | – | – | – | – | 57,362 | 50,280 | 58,755 | 45,219 | PDF p. 138 |
| – Thailand$'000 | (43,237) | (153,066) | (8,387) | (15,839) | – | – | – | – | (2,228) | 800 | (53,852) | (168,105) | PDF p. 138 |
| – Japan$'000 | – | – | – | – | – | – | 786,592 | 755,324 | 111 | (2,317) | 786,703 | 753,007 | PDF p. 138 |
| – Taiwan$'000 | 135,965 | 131,471 | – | – | – | – | – | – | – | – | 135,965 | 131,471 | PDF p. 138 |
| – Others$'000 | (168,634) | (112,791) | 9,818 | 8,904 | 65,222 | 10,827 | – | – | 10,669 | (22,681) | (82,925) | (115,741) | PDF p. 138 |
| EBITDA total (unlabelled)$'000 | (114,303) | (115,449) | 17,461 | 8,354 | 247,857 | 709,548 | 786,592 | 755,324 | 515,253 | 416,850 | 1,452,860 | 1,774,627 | PDF p. 138 |
| Share of profit of an associate | |||||||||||||
| Share of profit of an associate:$'000 | – | – | – | – | – | – | – | – | 5,414 | 5,767 | 5,414 | 5,767 | PDF p. 138 |
Notes
Expressed in Hong Kong dollars. Segment profit measure is EBITDA (earnings before interest, taxes, depreciation and amortisation), where interest includes bank and other interest income; share of profit from an associate is not included in segment EBITDA.
Revenue-total and EBITDA-total rows have no printed label. Segment assets, liabilities and capital expenditure are not disclosed in note 37.
Note 37(d) Geographic information – specified non-current assets (HK$'000) 1 lines
| Item / unit | 2025Singapore | 2024Singapore | 2025Hong Kong | 2024Hong Kong | 2025PRC | 2024PRC | 2025Thailand | 2024Thailand | 2025Japan | 2024Japan | 2025Others | 2024Others | 2025Consolidated | 2024Consolidated | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Geographic information | |||||||||||||||
| Specified non-current assets$'000 | 6,794,727 | 6,358,341 | 279,995 | 304,208 | 196,860 | 225,731 | 898,373 | 862,530 | 1,443,861 | 1,487,543 | 828,893 | 846,304 | 10,442,709 | 10,084,657 | PDF p. 139 |
Notes
Specified non-current assets comprise investment properties, property, plant and equipment and interest in an associate, based on the physical location of the asset (or location of operations for the associate). Expressed in Hong Kong dollars. Row label wraps across lines (Specified non-/current assets).
Debt
Borrowings
Borrowing notes 5 tables
Borrowings and bank overdrafts - payable as follows
| Item / unit | 2025HK$'000 | 2024HK$'000 | Source |
|---|---|---|---|
| Within one year | |||
| - bank overdrafts (note 24(a))HK$'000 | 186,375 | 352,832 | PDF p. 111 |
| - bank loansHK$'000 | 5,559,484 | 4,806,444 | PDF p. 111 |
| - amount due to Enterprise Singapore (note)HK$'000 | 5,753 | 18,672 | PDF p. 111 |
| Within one year subtotal (borrowings)HK$'000 | 5,565,237 | 4,825,116 | PDF p. 111 |
| Within one year total incl. overdraftsHK$'000 | 5,751,612 | 5,177,948 | PDF p. 111 |
| After one year but within two years | |||
| - bank loansHK$'000 | 1,516,381 | 2,099,999 | PDF p. 111 |
| - amount due to Enterprise Singapore (note)HK$'000 | 3,361 | 5,080 | PDF p. 111 |
| After one year but within two years subtotalHK$'000 | 1,519,742 | 2,105,079 | PDF p. 111 |
| After two years but within five years | |||
| - bank loansHK$'000 | 622,569 | 828,459 | PDF p. 111 |
| - amount due to Enterprise Singapore (note)HK$'000 | – | 3,516 | PDF p. 111 |
| After two years but within five years subtotalHK$'000 | 622,569 | 831,975 | PDF p. 111 |
| Total | |||
| Non-current total (after one year)HK$'000 | 2,142,311 | 2,937,054 | PDF p. 111 |
| Total borrowings and bank overdraftsHK$'000 | 7,893,923 | 8,115,002 | PDF p. 111 |
Notes
Unlabelled subtotals in source; labels descriptive. Note: Amount due to Enterprise Singapore represents unsecured advances under the Enterprise Finance Scheme ("EFS") and Local Enterprise Finance Scheme ("LEFS"). Interest rates and repayment periods vary by type, purpose and security of facilities.
At 31 December 2025, the above borrowings bear interest at floating rates ranging from 0.76% to 8.15% (2024: 0.53% to 5.87%) per annum.
Banking facilities secured by mortgage over land and buildings with aggregate carrying value of $31,504,000 (2024: $32,036,000); facilities $31,504,000 (2024: $22,363,000), not utilised at 31 Dec 2025 and 2024.
Borrowings and overdrafts - secured/unsecured
| Item / unit | 2025HK$'000 | 2024HK$'000 | Source |
|---|---|---|---|
| Security | |||
| Unsecured bank overdraftsHK$'000 | 186,375 | 352,832 | PDF p. 111 |
| Unsecured BorrowingsHK$'000 | 7,698,434 | 7,734,902 | PDF p. 111 |
| Amount due to Enterprise Singapore (note) | |||
| - UnsecuredHK$'000 | 9,114 | 27,268 | PDF p. 111 |
| Security | |||
| TotalHK$'000 | 7,893,923 | 8,115,002 | PDF p. 111 |
Notes
No secured borrowings are shown; all borrowings and overdrafts are unsecured.
Lease liabilities repayable
| Item / unit | 2025HK$'000 | 2024HK$'000 | Source |
|---|---|---|---|
| Lease liabilities | |||
| Within 1 yearHK$'000 | 197,916 | 197,056 | PDF p. 112 |
| After 1 year but within 2 yearsHK$'000 | 146,748 | 178,594 | PDF p. 112 |
| After 2 years but within 5 yearsHK$'000 | 103,895 | 169,344 | PDF p. 112 |
| After 5 yearsHK$'000 | 121,124 | 127,852 | PDF p. 112 |
| After 1 year subtotalHK$'000 | 371,767 | 475,790 | PDF p. 112 |
| Total lease liabilitiesHK$'000 | 569,683 | 672,846 | PDF p. 112 |
Notes
Subtotal and total rows unlabelled in source.
Note 34(d) Contractual undiscounted cash outflow - 2025 (borrowings and leases)
| Item / unit | 2025Within 1 year or on demand | 2025More than 1 year but less than 2 years | 2025More than 2 years but less than 5 years | 2025Over 5 years | 2025Total contractual undiscounted | 2025Carrying amount at 31 December | Source |
|---|---|---|---|---|---|---|---|
| 2025 | |||||||
| Bank overdraftsHK$'000 | 186,375 | – | – | – | 186,375 | 186,375 | PDF p. 132 |
| BorrowingsHK$'000 | 5,790,615 | 1,586,236 | 641,707 | – | 8,018,558 | 7,707,548 | PDF p. 132 |
| Lease liabilitiesHK$'000 | 211,728 | 159,114 | 122,695 | 163,019 | 656,556 | 569,683 | PDF p. 132 |
Notes
Undiscounted cash flows including interest at contractual/current floating rates.
Note 34(d) Contractual undiscounted cash outflow - 2024 (borrowings and leases)
| Item / unit | 2024Within 1 year or on demand | 2024More than 1 year but less than 2 years | 2024More than 2 years but less than 5 years | 2024Over 5 years | 2024Total contractual undiscounted | 2024Carrying amount at 31 December | Source |
|---|---|---|---|---|---|---|---|
| 2024 | |||||||
| Bank overdraftsHK$'000 | 352,832 | – | – | – | 352,832 | 352,832 | PDF p. 132 |
| BorrowingsHK$'000 | 5,166,765 | 2,237,766 | 868,894 | – | 8,273,425 | 7,762,170 | PDF p. 132 |
| Lease liabilitiesHK$'000 | 211,158 | 191,928 | 191,788 | 165,700 | 760,574 | 672,846 | PDF p. 132 |
Payout
Dividends & distributions
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| final dividend | 6.0 cents per share | FY2025 proposed final dividend | PDF p. 34 |
| final dividend (comparative) | 5.5 cents per share | FY2024 final dividend (comparative) | PDF p. 34 |
| total dividend per share (comparative) | HK$0.075 | FY2024 total (comparative) | PDF p. 5 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| total dividend payment | HK$161.065 million | FY2025 total dividend amount (interim paid plus proposed final); comparison HK$150.998 million for FY2024 | PDF p. 5 |
Extracted from TAN CHONG INTERNATIONAL LIMITED 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 | KPMG | Group, FY2025 | PDF p. 48 |
| Engagement partner | Wong, Kong Tat | Group, FY2025 | PDF p. 48 |
| Opinion | In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2025 | Group, FY2025 | PDF p. 44 |
Extracted from TAN CHONG INTERNATIONAL LIMITED 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 TAN CHONG INTERNATIONAL LIMITED 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.