-- Revenue from contracts with customers grew by 32.1% to US$32.0 million -- Hospitality arm's revenue surged by 59.8% -- Total Assets amounted to US$2.6 billion (US$4.5/share) -- Net Assets amounted to US$1.9 billion (US$3.3/share)
PARIS and NEW YORK and SINGAPORE, Oct. 23, 2026 /PRNewswire/ -- AMTD IDEA Group ("AMTD IDEA" or "the Company", NYSE: AMTD; SGX: HKB), a NYSE and SGX-ST dual listed company and also a listed holding platform for (i) digital solutions, (ii) media, entertainment and cultural connectors, and (iii) global premium assets, hospitality and VIP services today announced its unaudited financial results for the six months ended June 30, 2026.
Highlights of Half Year Financial Results
-- During the first half of 2026, the Company significantly scaled its
global hospitality footprint through the successful acquisition and
integration of premier hotel properties located in key international
markets: New York, Perth, London and Kuala Lumpur. Driven by these
strategic acquisitions and strong operational execution, revenue from our
hotel operations, hospitality, and VIP services segment surged by 59.8%
to US$20.2 million compared to the same period last year.
-- Building upon the successful launch and rapid popularity of our
inaugural L'Officiel Coffee in Omotesando, Japan, the Company continued
the strategic rollout of its IP extended businesses by opening our second
L'Officiel Coffee and Bar in Macao SAR in September 2026. This new venue
further leverages AMTD L'Officiel's intellectual properties, offering our
signature specialty coffees and beautifully crafted sweets - including
L'Officiel magazine cakes and seasonal fruit taste mousse cakes - while
expanding our vibrant social and cultural footprint into a key Asian
entertainment and tourism hub.
Statement from Senior Management:
Mr. Xavier Zee, CFO of the Company, "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, Perth, London and Kuala Lumpur. 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 June 30, 2026
Revenue
Our revenue for the six months ended June 30, 2026, amounted to US$67.1 million, a change from US$89.0 million recorded for the comparable period in 2025.
Segment Revenue
-- Hotel operations, hospitality and VIP services income increased from
US$12.7 million in the comparable period in 2025 to US$20.2 million for
the six months ended June 30, 2026, representing a 59.8% growth. This
increase was primarily driven by the expansion of our asset portfolio,
including the newly acquired hotels.
-- Fashion, arts and luxury media advertising and marketing services income
increased to US$10.5 million for the six months ended June 30, 2026,
compared to US$10.0 million in the comparable period in 2025.
-- Digital solutions and other services income was US$1.3 million for the
six months ended June 30, 2026, compared to US$1.6 million for the
comparable period in 2025.
-- Dividend income and gains from disposed financial assets at FVTPL was
US$10.1 million for the six months ended June 30, 2026, compared to
US$8.6 million for the comparable period in 2025.
-- Net fair value changes on financial assets at FVTPL was US$25.0 million
for the six months ended June 30, 2026, compared to US$56.2 million for
the comparable period in 2025. The decrease was mainly attributable to
lower unrealized gains on our investment portfolio compared to 2025.
Other Income And Gains
Other income and gains increased from US$15.7 million for the comparable period in 2025 to US$16.3 million for the current period.
Other Operating Expenses
Other operating expenses for the six months ended June 30, 2026, increased by 30.7% as compared to the comparable period in 2025 to US$27.0 million. This was primarily attributable to an increase in our hotels' depreciation charges and additional operating costs recognized from our hotels in line with the expansion of our hotel operations.
Staff Costs
Staff costs for the six months ended June 30, 2026, decreased slightly to US$6.5 million, compared to US$6.6 million for the comparable period in 2025.
Finance Costs
Finance costs for the six months ended June 30, 2026, decreased to US$4.4 million compared to US$7.1 million for the comparable period in 2025. We remain committed to continuous efforts in asset liability management in order to manage our overall funding costs.
Income Tax Expense
Income tax expense for the six months ended June 30, 2026, increased to US$5.1 million compared to US$1.5 million for the comparable period in 2025.
Profit For The Period
The Company recorded a profit of US$40.3 million in the six months ended June 30, 2026, compared to a profit of US$68.8 million for the comparable period in 2025, which is mainly due to the lower unrealized gains on our investment portfolio in 2026.
Financial Position and Balance Sheet Analysis
The Group's financial position expanded significantly during the six months ended June 30, 2026, reflecting the successful execution of our strategic acquisitions in the hospitality sector. Total assets increased to US$2.6 billion as of June 30, 2026, compared to US$2.3 billion as of December 31, 2025. Total liabilities increased to US$543.3 million from US$385.4 million, while total equity strengthened to US$1.9 billion from US$1.8 billion.
Key fluctuations in our balance sheet items include:
-- Property, Plant and Equipment: Property, plant and equipment surged by
US$380.3 million, from US$314.1 million as of December 31, 2025, to
US$694.3 million as of June 30, 2026. This increase was the primary
driver of our asset growth and is directly attributable to the
acquisitions of the premier hotel properties.
-- Bank Borrowings: Total bank borrowings (current and non-current)
increased to US$342.9 million as of June 30, 2026, from US$292.1 million
as of December 31, 2025. This increase reflects the strategic utilization
of debt facilities to support the acquisition of our new hotel
properties.
-- Deferred Tax Liabilities: Deferred tax liabilities increased to US$52.6
million as of June 30, 2026, compared to US$5.6 million at the end of
2025. This increase is primarily attributable to the provisional fair
value adjustments and purchase price allocations related to the newly
acquired hotel operations.
-- Total Equity and Non-Controlling Interests: Total equity grew from
US$1,764.8 million to US$1,855.1 million. This was driven by the net
profit generated during the period and an increase in non-controlling
interests (from US$177.1 million to US$260.0 million), which relate to
the acquisitions of the hotels which are non-wholly owned by the Group.
Key Basis of Preparation
The unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles. In accordance with the relevant accounting standards for business combinations (ASC 805 under US GAAP), the initial accounting for the recent acquisitions of the hotel operations in Kuala Lumpur, Perth, and London is incomplete as of the end of the reporting period. Consequently, these acquisitions have been accounted for using provisional amounts.
The reported figures--including the fair value of identifiable assets acquired, liabilities assumed, and any resulting goodwill--are subject to change upon the finalization of the purchase price allocation during the measurement period (which will not exceed one year from the respective acquisition dates). Adjustments to these provisional amounts will be recognized retrospectively to reflect new information obtained about facts and circumstances that existed as of the acquisition date.
Subsequent Event
On October 6, 2026, the Company announced a change in the ratio of its American Depositary Shares (ADSs) to its Class A ordinary shares. Further details regarding the ADS ratio change were furnished to the U.S. Securities and Exchange Commission on Form 6-K. The change in ADS ratio is completed on October 19, 2026.
About AMTD IDEA Group
AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients' diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as "Twitter") at @AMTDGroup.
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 IDEA Group 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 IDEA Group with the SEC. All information provided in this press release is as of the date of this press release, and AMTD IDEA Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
AMTD IDEA GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED
STATEMENTS OF PROFIT OR LOSS FOR THE SIX MONTHS ENDED JUNE 30,
2025 AND 2026
Six months ended June 30,
-----------------------------
2025 2026
---------------- -----------
US$'000 US$'000
---------------- -----------
(unaudited) (unaudited)
REVENUE
Digital solutions and other services
income 1,607 1,277
Fashion, arts and luxury media
advertising and marketing services
income 9,976 10,513
Hotel operations, hospitality and
VIP services income. 12,668 20,245
Dividends and gains from disposed
financial assets at fair value
through profit or loss 8,612 10,116
Net fair value changes on financial
assets at fair value through profit
or loss (except derivative
financial assets and gains from
disposed financial assets at fair
value through profit or loss) 56,176 24,990
--------------- -----------
89,039 67,141
---------------------------------- --------------- -----------
Other income and gains 15,664 16,254
Other operating expenses (20,641) (26,984)
Staff costs (6,640) (6,500)
Finance costs (7,054) (4,446)
--------------- -----------
PROFIT BEFORE TAX 70,368 45,465
Income tax expense (1,544) (5,126)
--------------- -----------
PROFIT FOR THE PERIOD 68,824 40,339
--------------- -----------
Attributable to:
Owners of the company
Ordinary shareholders 43,206 24,550
Holders of perpetual securities 2,157 265
Non-controlling interests 23,461 15,524
--------------- -----------
68,824 40,339
---------------------------------- --------------- -----------
EARNINGS PER SHARE ATTRIBUTABLE TO
ORDINARY EQUITY HOLDERS OF THE
COMPANY
Class A ordinary shares:
Basic (US cents per share) 10.22 4.31
--------------- -----------
Diluted (US cents per share) 10.22 4.31
--------------- -----------
Class B ordinary shares:
Basic (US cents per share) 10.22 4.31
--------------- -----------
Diluted (US cents per share) 10.22 4.31
--------------- -----------
AMTD IDEA GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION AS AT DECEMBER 31, 2025, AND JUNE
30, 2026
December 31, June 30,
2025 2026
------------- -----------
US$'000 US$'000
------------- -----------
(audited) (unaudited)
ASSETS
Current assets
Accounts receivable 7,113 7,400
Prepayments, deposits and other
receivables 21,437 38,708
Due from immediate holding company 1,346,526 1,248,573
Financial assets at fair value through
profit or loss 8,327 26,246
Cash and bank balances 51,074 42,533
------------ -----------
Total current assets 1,434,477 1,363,460
------------ -----------
Non-current assets
Property, plant and equipment 314,069 694,321
Intangible assets 119,099 118,191
Deposits 82,609 -
Financial assets at fair value through
profit or loss 350,060 374,994
------------ -----------
Total non-current assets 865,837 1,187,506
------------ -----------
Total assets 2,300,314 2,550,966
============ ===========
LIABILITIES AND EQUITY
Current liabilities
Accounts payable 1,532 3,396
Bank borrowings 50,232 34,961
Other payables and accruals 10,144 52,278
Due to a non-controlling shareholder 64,081 76,422
Tax payable 3,426 5,283
------------ -----------
Total current liabilities 129,415 172,340
------------ -----------
Non-current liabilities
Bank borrowings 241,910 307,965
Deferred tax liabilities 5,645 52,566
Deferred underwriting commissions 6,000 6,000
Provisions 2,407 4,422
------------ -----------
Total non-current liabilities 255,962 370,953
------------ -----------
Total liabilities 385,377 543,293
============ ===========
AMTD IDEA GROUP UNAUDITED INTERIM CONDENSED CONSOLIDATED
STATEMENTS OF FINANCIAL POSITION (CONTINUED) AS AT DECEMBER 31,
2025 AND JUNE 30, 2026
December 31, June 30,
2025 2026
------------- -----------
US$'000 US$'000
------------- -----------
(audited) (unaudited)
Commitments and Contingencies
Redeemable shares issued by TGE Value
Creative Solutions Corp ("TGE SPAC") 150,110 152,545
Equity
Share capital 64 64
Treasury shares (734,658) (734,658)
Reserves 2,109,994 2,117,443
------------ -----------
Total equity attributable to ordinary
shareholders of the Company 1,375,400 1,382,849
Non-controlling interests 177,104 259,956
Perpetual securities 206,559 206,559
Warrants 5,764 5,764
------------ -----------
Total equity 1,764,827 1,855,128
------------ -----------
Total liabilities, redeemable shares
issued by TGE SPAC and equity 2,300,314 2,550,966
============ ===========
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SOURCE AMTD IDEA Group
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