Grand Ming reports net loss in challenging half-year, revenue down 63%

Grand Ming Group Holdings Limited reported a net loss of HK$26.1 million for the six months ended September 30, 2025, a substantial shift from a net profit of HK$52.6 million in the prior corresponding period. Consolidated revenue for the first half of 2025/26 decreased by 62.9% to HK$253.5 million, with gross profit also falling 71.3% to HK$87.9 million. The decline was mainly attributed to a significant reduction in residential property deliveries and the expiration of a data centre lease.

Operating expenses decreased by 70.5% to HK$65.1 million, largely due to a reduction in property agency commissions. The group’s net gearing ratio increased to approximately 221.4%, and its current ratio stood at 0.30 times. The group is actively pursuing strategies to deleverage and enhance liquidity, including the potential sale of its four data centre projects.

As of September 30, 2025, Grand Ming's total outstanding bank and other borrowings amounted to approximately HK$5,526 million, with HK$8,850 million of assets pledged as security.