Lixin Development (00488.HK): Net loss of HKD 1.167 billion in 2025

Gelonghui, March 27 | Lixin Development (00488.HK) announced that for the year ending December 31, 2025, it achieved a revenue of HKD 2.584 billion, an increase of 1.4% year-on-year; the Group’s adjusted EBITDA (not measured in accordance with Hong Kong Financial Reporting Standards) was HKD 379 million, a decrease of 23.3% year-on-year; the net loss attributable to owners of the company was HKD 1.167 billion, compared to a net loss of HKD 118 million for the same period last year.

During the reporting period, the net loss attributable to owners of the company was approximately HKD 1.167 billion, while the same period last year recorded a net loss of approximately HKD 118 million, mainly due to the losses incurred during the review period from (i) the sale by Lifung Group of a residential building (T1) in the second phase of Hengqin Innovation Square and the write-down of properties in the second phase of Hengqin Innovation Square (mainly T3); (ii) fair value losses on the Group’s investment properties; and (iii) fair value losses and impairment losses on properties of joint ventures, including the housing building (T1) in the second phase of Hengqin Innovation Square, the properties mainly in T3 of the second phase of Hengqin Innovation Square, and the properties of the joint venture company.