-- AMTD Digital's digital investments portfolio continue to grow, with the
investment into EleBank, AMTD Group as co-founder, seeing important
developments of having the first Physical Store officially opens, all-new
online-to-offline digital banking service experience and accompanying
Hong Kong people on the journey from "earning interest" to "growing
wealth". This represents the first digital bank in Hong Kong history to
lease a ground-floor physical branch storefront, marking a significant
milestone in the evolution of digital banking towards an integrated
online and offline integrated service model.
-- Total assets grew by 23.2% to US$1.2 billion (US$9.4/share); and Net
asset value strengthened to US$630.6 million (US$5.0/share)
-- Revenue from contracts with customers increased to US$26.4 million
-- Successfully completed the strategic acquisition of a premier hotel
property in New York
PARIS & NEW YORK--(BUSINESS WIRE)--October 23, 2026--
AMTD Digital Inc. ("AMTD Digital" or the "Company", NYSE: HKD), a NYSE listed company and also a comprehensive digital solutions and global hospitality and VIP services platform headquartered in France, announces its unaudited financial results for the six months ended April 30, 2026.
Highlights of Half Year Financial Results
-- Our revenue from contracts with customers for the six months ended
April 30, 2026 increased to US$26.4 million, compared to US$25.3 million
in the comparable period of 2025. This steady growth demonstrates our
resilience and the successful integration of our core operating
businesses.
-- During the period, the Company successfully completed the strategic
acquisition of a premier hotel property in New York (AMTD IDEA Tribeca
Hotel). This acquisition establishes our presence in a
high-barrier-to-entry market and serves as a key driver for our expanding
hospitality and VIP services segment.
-- We recorded total revenue of US$63.8 million for the six months ended
April 30, 2026, which includes US$37.4 million in positive fair value
changes on financial assets measured at fair value through profit or
loss.
-- The Company maintains a highly robust balance sheet, with total assets
expanding by 23.2% to reach US$1.2 billion (US$1,176.9 million) as of
April 30, 2026.
Statement from Senior Management:
Xavier Zee, Chief Financial Officer, said "I am pleased to report that the Group has further enriched its hospitality portfolio following acquisitions of hotels in 4 international cities, namely New York, London, Perth and Kuala Lumpur, during the half year period and up to this announcement date. We continuously see strong momentum in this strategic sector and are heartened for the solid hospitality results after the acquisitions. We also see that there are many collaboration opportunities and synergies between our IP related business and this hospitality arm, which will bring in more revenue streams for the Group."
Financial Results for the Six Months Ended April 30, 2026
Revenue
Our total revenue for the six months ended April 30, 2026 was US$63.8 million, compared with US$73.2 million recorded for the comparable period in 2025. The components of our revenue are as follows:
-- Revenue from contracts with customers increased to US$26.4 million for
the six months ended April 30, 2026, compared to US$25.3 million for the
comparable period in 2025. This growth was primarily driven by the steady
performance of our media and entertainment segment and the expansion of
our hotel operations, including the newly acquired New York hotel
property.
-- Net fair value changes on financial assets at fair value through profit
or loss was a gain of US$37.4 million for the six months ended April 30,
2026, compared to a gain of US$47.5 million in the comparable period of
2025. The change reflects the unrealized gains on our investment
portfolio during the current period.
Employee Benefit Expense
Staff costs for the six months ended April 30, 2026 decreased to US$5.6 million, compared to US$8.6 million in the comparable period in 2025, reflecting optimized operational efficiencies across the Group.
Depreciation and Amortization
Depreciation and amortization for the six months ended April 30, 2026 increased to US$5.0 million, compared to US$4.7 million in the same period in the prior year. This increase is primarily attributable to the addition of the New York hotel property to our real estate portfolio.
Finance Costs
Finance costs for the six months ended April 30, 2026 decreased by 24.9% to US$4.6 million, compared to US$6.1 million in the comparable period in 2025.
Other Expenses
Other expenses for the six months ended April 30, 2026 increased to US$13.0 million, compared to US$11.0 million in the comparable period in 2025. This increase is primarily attributable to the additional operating costs associated with our expanded hotel operations, including the newly acquired New York property.
Other Income
Other income increased to US$12.5 million for the six months ended April 30, 2026, compared to US$10.7 million for the comparable period in 2025, mainly due to higher interest income driven by an increase in outstanding balances owed by group companies during the current period.
Profit For the Period
Profit for the six months ended April 30, 2026 was US$42.4 million, compared to US$51.5 million in the comparable period in 2025. The change is primarily the result of a lower unrealized fair value gain on financial assets and higher income tax expenses (US$4.0 million in 2026 compared to US$0.8 million in 2025), offset by steady growth in our core operating businesses.
Financial Position and Balance Sheet Analysis
The Group's financial position expanded significantly during the six months ended April 30, 2026, reflecting the successful execution of our strategic acquisition in the hospitality sector.
-- Total assets increased by 23.2% to US$1.2 billion (US$1,176.9 million)
as of April 30, 2026, compared to US$955.4 million as of October 31,
2025. This was largely driven by an increase in Property, Plant and
Equipment (from US$293.1 million to US$359.7 million) due to the New York
hotel acquisition, as well as an increase in non-current financial assets
at FVTPL, primarily representing approximately US$150 million of net
proceeds from the TGE SPAC initial public offering held in a restricted
Trust Account and invested in money market funds.
-- Total liabilities increased to US$395.0 million from US$351.7 million,
primarily reflecting an increase in non-current bank borrowings utilized
to support our real estate expansion.
-- Total equity strengthened to US$630.6 million, up from US$603.7 million
at the end of October 2025, supported by the comprehensive income
generated during the period.
Subsequent events
Subsequent to the reporting period ended April 30, 2026, the Group successfully completed the acquisition of three additional premier hotel properties to further scale its global hospitality footprint:
-- Australia: On May 29, 2026, the Group completed the acquisition of a
50% equity interest in the entities owning and operating The Ritz-Carlton,
Perth (number 100 The Ritz-Carlton globally).
-- Southeast Asia: On May 29, 2026, the Group completed the acquisition of
a 100% equity interest in the entities owning an 80% effective interest
in the Upper View Regalia Hotel in Kuala Lumpur, Malaysia.
-- United Kingdom: On June 2, 2026, the Group completed the acquisition of
a 100% equity interest in the entities owning and operating the AMTD Dao
by Dorsett Hornsey hotel in London.
These acquisitions are in line with the Group's ongoing strategy to expand its footprint in key international gateway cities, diversify its asset portfolio, and increase recurring revenue streams.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital's announcements, please visit https://ir.amtdigital.net/investor-news.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD Digital Inc. are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD Digital Inc. with the SEC. All information provided in this press release is as of the date of this press release, and AMTD Digital Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
AMTD DIGITAL INC. UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF PROFIT OR LOSS FOR THE SIX MONTHS ENDED APRIL 30, 2025 AND 2026
Six months ended April 30,
---------------------------------
2025 2026
----------------- --------------
US$'000 US$'000
(unaudited)
Revenue from contracts with
customers 25,310 26,398
Dividend income 352 -
Changes in fair value on financial
assets measured at fair value
through profit or loss 47,498 37,428
------------ -----------
Total revenue 73,160 63,826
============ ===========
Other income 10,664 12,450
Other gains and losses, net (336) 83
Employee benefits expense (8,633) (5,601)
Advertising and promotion expense (331) (1,123)
Premises and office expenses (108) (57)
Legal and professional fee (394) (629)
Depreciation and amortization (4,653) (5,008)
Finance costs (6,100) (4,582)
Other expenses (10,996) (13,008)
PROFIT BEFORE TAX 52,273 46,351
Income tax expense (811) (3,954)
PROFIT FOR THE PERIOD 51,462 42,397
============ ===========
OTHER COMPREHENSIVE INCOME
(EXPENSES)
Item that may be reclassified
subsequently to profit or loss:
Exchange differences on translation
of foreign operations 828 (729)
Item that will not be reclassified
subsequently to profit or loss:
Exchange differences arising on
translation of foreign
operations 360 (5,202)
------------ -----------
OTHER COMPREHENSIVE INCOME (EXPENSE)
FOR THE PERIOD 1,188 (5,931)
------------ -----------
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD 52,650 36,466
------------ -----------
Profit for the period attributable
to:
Owners of the company 27,072 23,600
Non-controlling interests 24,390 18,797
------------ -----------
51,462 42,397
---------------------------------- ------------ -----------
Total comprehensive income for the
period attributable to:
Owners of the company 28,213 17,377
Non-controlling interests 24,437 19,089
------------ -----------
52,650 36,466
---------------------------------- ------------ -----------
EARNINGS PER SHARE
Basic (US$) 0.22 0.19
Diluted (US$) 0.22 0.19
AMTD DIGITAL INC. UNAUDITED INTERIM CONDENSED CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION AS AT OCTOBER 31, 2025 AND APRIL
30, 2026
October 31, April 30,
2025 2026
------------ -------------
US$'000 US$'000
(audited) (unaudited)
ASSETS
Current assets
Accounts receivable 11,834 10,207
Prepayments, deposits and other
receivables 4,466 6,774
Amount due from AMTD Group 250,731 132,237
Financial assets at fair value through
profit or loss 7,987 7,920
Cash and bank balances 46,363 41,740
---------- ----------
Total current assets 321,381 198,878
---------- ----------
Non-current assets
Property, plant and equipment 293,140 359,735
Intangible assets 119,311 118,308
Deposits - 72,561
Financial assets at fair value through
profit or loss 221,532 427,395
---------- ----------
Total non-current assets 633,983 977,999
---------- ----------
Total assets 955,364 1,176,877
========== ==========
LIABILITIES AND EQUITY
Current liabilities
Accounts payable 5,486 5,815
Other payables and accruals 9,831 13,712
Bank borrowings 83,305 5,339
Amounts due to non-controlling
shareholders 64,197 61,685
Contract liabilities 664 429
Income tax payable 3,483 3,655
---------- ----------
Total current liabilities 166,966 90,635
---------- ----------
Non-current liabilities
Bank borrowings 176,818 290,105
Provision for replacement of hotel
properties 2,266 2,648
Deferred underwriting commissions - 6,000
Deferred tax liabilities 5,655 5,607
---------- ----------
Total non-current liabilities 184,739 304,360
---------- ----------
Total liabilities 351,705 394,995
---------- ----------
Commitments and Contingencies
Redeemable shares issued by TGE Value
Creative Solutions Corp. ("TGE SPAC") - 151,321
---------- ----------
Equity
Share capital 13 13
Treasury shares (295,719) (295,719)
Reserves 559,348 564,544
---------- ----------
Total equity attributable to owners of
the Company 263,642 268,838
Warrants 2,145 5,764
Non-controlling interests 337,872 355,959
---------- ----------
Total equity 603,659 630,561
---------- ----------
Total liabilities, redeemable shares
issued by TGE SPAC and equity 955,364 1,176,877
========== ==========
* less than US$1,000.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261023358485/en/
CONTACT: IR Office
AMTD Digital Inc.
EMAIL: ir@amtdigital.net
Phone: +33 (0)1 42 36 45 97
Comments