Link: https://links.sgx.com/1.0.0/corporate-announcements/MQH8XSNRB7K03Z2K/e9c981cb0638e7bdbc3d048e8d9a45ba0eb3a373da31dafd1e2e4147588f72c4

Summary:

• Group revenue for first half of 2025 was HK$6.51 billion, a 1% decrease from HK$6.59 billion in 1H 2024, reflecting stable performance despite global economic volatility.

• After-tax profit surged to HK$107.7 million (vs. HK$28.0 million in 1H 2024).

• EBITDA grew 15% to HK$673.6 million; operating profit margin rose to 5.1% from 3.7%.

• Administrative expenses were reduced by 11% and distribution costs by 29%, excluding ZERO and ETHOZ subsidiaries.

• New Subaru hybrid model and Nissan launches, plus two new Subaru EV models in 2026, position the automotive division for growth.

• ZERO Group posted 8% revenue growth, with a 36% rise in after-tax profit; ETHOZ saw a slight revenue decline but achieved a 10% net profit increase.

• Net gearing ratio increased to 49.3% as of June 30, 2025; net assets per share rose to HK$6.37.

• Interim dividend declared at HK2 cents per share for 1H 2025.

• Singapore: Nissan retained top-10 passenger car brand status and best-selling LGV brand; Subaru sales up 181%, set for further growth with new model launches.

• Japan: ZERO Group revenue up 8%; after-tax profit up 36%.

• China, Taiwan, and SE Asia: Mixed results due to market challenges, but outlook remains positive with new launches and model strategies in place.

• Group maintains a cautiously optimistic outlook, emphasizing cost control, efficiency, and resilience amid ongoing market uncertainties.