Also trades as: SZNTF (OTC) · $vol 0M

HK$0.63 ($0.08)

-0.01 (-1.56%)

Weekly Expected Move ±4.0%

HK$1 HK$1 HK$1 HK$1 HK$1

HKSE · Real Estate · Real Estate - Development · Tech Score Neutral · Power 43 · HK$5.6B mcap · 2.29B float · 0.244% daily turnover

Revenue

$15.6B -1.7% ▼

5Y CAGR: +0.9%

Gross Profit

$4.4B -13.1% ▼

5Y CAGR: -2.8%

Operating Income

$2.7B -22.1% ▼

5Y CAGR: -3.0%

Net Income

-$1.8B -597.2% ▼

EPS (Diluted)

$-0.20 -580.3% ▼

EBITDA

$2.8B -13.6% ▼

5Y CAGR: -17.9%

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$18.8B	$32.1B	$31.5B	$15.8B	$15.6B
YoY Growth	+26.0%	+70.5%	-1.6%	-49.8%	-1.7%
Cost of Revenue	$10.0B	$19.6B	$20.8B	$10.7B	$11.1B
Gross Profit	$8.8B	$12.4B	$10.7B	$5.1B	$4.4B
Gross Margin	46.9%	38.8%	33.9%	32.3%	28.5%
R&D Expenses	$0	$0	$0	$0	$78M
SG&A Expenses	$1.4B	$2.0B	$2.3B	$2.0B	$1.6B
Operating Expenses	$1.2B	$9.1B	$3.0B	$1.6B	$1.7B
Operating Income	$7.7B	$3.3B	$7.7B	$3.5B	$2.7B
Operating Margin	40.7%	10.3%	24.5%	22.1%	17.5%
Interest Expense	$992M	$737M	$972M	$1.2B	$1.4B
Income Before Tax	$8.1B	$3.6B	$7.4B	$1.8B	-$822M
Tax Expense	$4.2B	$5.7B	$4.9B	$1.6B	$715M
Net Income	$3.7B	-$2.7B	$2.1B	-$261M	-$1.8B
Net Margin	19.8%	-8.5%	6.6%	-1.7%	-11.7%
EPS (Diluted)	$0.42	$-0.31	$0.23	$-0.03	$-0.20
EBITDA	$7.3B	$10.6B	$8.5B	$3.2B	$2.8B
Shares Outstanding	8.86B	8.90B	8.90B	8.90B	8.90B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$16.2B	$6.1B	$10.1B	$3.8B	$11.8B	$10.3B	$30.0B	$10.2B
Cost of Revenue	$12.3B	$4.0B	$6.7B	$2.7B	$8.5B	$8.6B	$25.2B	$8.7B
Gross Profit	$3.9B	$2.1B	$3.3B	$1.1B	$3.4B	$1.8B	$4.8B	$1.5B
Gross Margin	24.2%	35.0%	33.1%	28.9%	28.4%	17.1%	15.9%	14.6%
R&D Expenses	$85M	$85M	$119M	$0	$78M	$0	$0	$0
SG&A Expenses	$1.5B	$844M	$1.2B	$767M	$846M	$734M	$1.3B	$856M
Operating Expenses	$2.0B	$753M	$858M	$840M	$871M	$1.1B	$3.8B	$2.1B
Operating Income	$2.1B	$1.1B	$2.2B	$246M	$2.5B	$704M	$968M	-$634M
Operating Margin	13.2%	18.3%	21.5%	6.5%	21.0%	6.8%	3.2%	-6.2%
Interest Expense	$502M	$1.6B	$1.5B	$0	$0	$0	$695M	$728M
Income Before Tax	$1.3B	$836M	$1.6B	-$1.5B	$709M	-$1.9B	$65M	-$1.7B
Tax Expense	$1.6B	$557M	$1.0B	$196M	$519M	$600M	$954M	$213M
Net Income	-$275M	-$117M	-$145M	-$1.1B	-$721M	-$2.6B	-$1.7B	-$2.0B
Net Margin	-1.7%	-1.9%	-1.4%	-29.3%	-6.1%	-25.3%	-5.8%	-19.5%
EPS (Diluted)	$-0.03	$-0.01	$-0.02	$-0.12	$-0.08	$-0.29	$-0.20	$-0.22
EBITDA	$2.3B	$1.2B	$2.1B	$394M	$2.4B	$837M	$1.2B	-$960M
Shares Outstanding	8.90B	8.90B	8.90B	8.90B	8.90B	8.90B	8.90B	8.90B

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