DL Holdings Group (1709) investor relations material

Executive summary

• Revenue rose 42.6% year-over-year to HK$118.5 million for the six months ended 30 September 2025, with gross profit up 21.2% to HK$75.5 million and net profit surging to HK$202.3 million from HK$7.7 million, driven by strong growth in financial services, family office, and investment gains.

• Major investment gains included fair value increases in financial assets and associates, notably a HK$84.2 million gain from Carmel Reserve and HK$115.7 million from DL Digital.

• Financial services, family office services, and money lending were key contributors to revenue and profit growth, while apparel and enterprise solutions segments showed modest improvements.

• The group continued to expand its digital finance business, including blockchain and RWA tokenisation initiatives.

Financial highlights

• Revenue: HK$118.5 million (up 42.6% YoY); gross profit: HK$75.5 million (up 21.2% YoY); gross margin: 63.7% (down from 75.0%).

• Net profit: HK$202.3 million (up over 2000% YoY); EPS: 12.99 HK cents basic, 12.95 HK cents diluted (vs. 0.52 HK cents prior year).

• Other gains, net: HK$194.2 million, mainly from fair value gains on financial assets and associates.

• Finance costs fell 75.6% to HK$5.7 million due to debt repayments.

• Cash and cash equivalents: HK$521.9 million (up from HK$31.7 million at 31 March 2025).

Outlook and guidance

• Management expects a challenging environment due to global economic uncertainty and high interest rates, especially for the apparel segment.

• Strategic focus remains on expanding financial services, family office, and digital finance, including blockchain, RWA tokenisation, and cross-border wealth management.

• Ongoing resource reallocation and cost control in underperforming segments; continued investment in digital transformation and new business lines.