China Tangshang Holdings Limited (674) reported consolidated revenue of approximately HK$205.3 million for the six months ended 30 September 2025, representing a decrease from approximately HK$328.2 million in the corresponding period of 2024. The group recorded a loss of approximately HK$10.1 million, compared to a loss of about HK$41.8 million in the same period last year.

According to the announcement, the property development segment contributed revenue of approximately HK$184.1 million, down from HK$308.0 million in 2024. The reduction was partly attributed to lower recognition of completed properties in Dongguan and Puning, offset by respective sales in those regions. Its property sub-leasing and investment business reported approximately HK$21.2 million in revenue, up slightly from HK$20.1 million year-on-year, benefiting from stable leasing arrangements though affected by fair value changes in investment properties.

As of 30 September 2025, completed properties held for sale stood at around HK$1.30 billion, and the company’s investment properties were valued at about HK$83.8 million. The group noted that its net current assets amounted to around HK$1.21 billion, with a current ratio of 2.7. The gearing ratio, taking into account convertible bonds net of cash and bank balances over equity, was reported at 19.6%.

For the reporting period, the board did not declare an interim dividend. The management plans to continue focusing on its core property development activities and maintaining prudent capital management. The group’s official statement also mentioned ongoing exploration of new opportunities while keeping a close watch on broader market challenges in the PRC.