ZO Future Group (2309) H1 2026 earnings summary

Executive summary

• Disposed of the football club business in November 2025, enabling a strategic focus on high-growth new energy automobiles and property investment segments.

• Profit attributable to owners was HK$179.8 million for the six months ended 31 December 2025, reversing a loss of HK$117.1 million in the prior year, mainly due to a HK$357.8 million gain from the football club disposal.

• Continuing operations now comprise new energy automobiles and property investment, with the football club business classified as discontinued.

Financial highlights

• Consolidated revenue from continuing operations rose 110.8% year-over-year to HK$56.6 million for the six months ended 31 December 2025.

• Gross profit increased 44.8% to HK$22.3 million.

• Loss from continuing operations widened to HK$50.0 million from HK$20.4 million year-over-year.

• Net cash outflow from operating activities was HK$199.6 million.

• No interim dividend declared for the period.

Outlook and guidance

• Strategy focuses on accelerating growth in new energy automobiles, targeting Southeast Asia and emerging markets, leveraging partnerships, digital marketing, and user experience.

• Plans to deepen supply chain partnerships and enhance product innovation to drive long-term profitability.

• Management remains committed to prudent financial stewardship amid global volatility.