Theme International (990) H1 2026 earnings summary

Executive summary

• Revenue from continuing operations rose 49% year-over-year to HK$14,963.9 million for the six months ended 30 June 2026, driven by higher trading volumes in iron ore and increased financial services activity.

• Net profit increased to HK$513.4 million from HK$369.9 million, with basic earnings per share up to HK2.58 cents from HK2.39 cents.

• The Group is advancing strategic transformation, focusing on the lithium value chain and AI infrastructure, while maintaining core businesses in commodities and financial services.

Financial highlights

• Gross profit from continuing operations increased to HK$452.4 million from HK$235.8 million year-over-year.

• Other gains reached HK$120.3 million, including HK$31.9 million in bank interest income and HK$170.9 million net realized gain on derivatives, offset by HK$108.1 million loss on fair value changes of financial assets.

• Finance costs rose to HK$16.7 million from HK$8.8 million, mainly due to higher factoring and loan interest.

• Share of profits from associates was HK$134.5 million, slightly down from HK$140.4 million.

• Profit from discontinued operations was HK$73.5 million, down from HK$99.7 million.

Outlook and guidance

• The Group will continue to expand its financial services and commodities businesses, with a strategic focus on the lithium value chain and AI infrastructure.

• Plans include further M&A activity in China, Indonesia, Australia, and Malaysia, and expansion of fund management offerings.

• Remaining proceeds from recent share issues are earmarked for business expansion and joint ventures, particularly in Indonesia and Australia.