$NTPIF

NAM TAI PROPERTY INC.

CIK:0000829365|SEC Filings

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue	$ 48,001	$ 29,185	$ 83,205
Cost of revenue	(35,667)	(16,661)	(76,960)
Gross profit	12,334	12,524	6,245
Expenses
General and administrative expenses	(17,870)	(30,244)	(45,326)
Selling and marketing expenses	(4,466)	(1,819)	(3,016)
Total operating expenses	(22,336)	(32,063)	(48,342)
Net (loss) income from operations	(10,002)	(19,539)	(42,097)
Other (expense) income, net	10,346	63,680	(7,963)
Interest income	132	49	85
(Loss) income before income tax	476	44,190	(49,975)
Income tax benefit (expense)	(366)	(15,044)	(473)
Consolidated net (loss) income	110	29,146	(50,448)
Foreign currency translation adjustment	4,906	13,549	(3,048)
Other comprehensive (loss) income	4,906	13,549	(3,048)
Consolidated comprehensive (loss) income	$ 5,016	$ 42,695	$ (53,496)
Basic (loss) earnings per share	$ 0.0018	$ 0.4952	$ (0.968)
Diluted (loss) earnings per share	$ 0.0018	$ 0.4886	$ (0.968)

Consolidated Statements of Cash Flows $ in Thousands, ¥ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Cash flows from operating activities:
Net Income (Loss)	$ 110	$ 29,146	$ (50,448)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:
Depreciation and amortization	4,599	4,683	4,824
Amortization of right-of-use asset		264	525
Gain on disposal of property, plant and equipment	(17,395)
Impairment on real estate properties held for sale	429
Impairment on property, plant and equipment		3,404
Gain on lease termination		(2,360)
Share-based compensation expenses	5,078	6,241	21,517
Unrealized exchange (gain) loss	104	(263)	40
Deferred income taxes	(3,840)	(1,611)	(1,235)
Interest paid	(6,323)	(5,197)	(4,200)
Changes in current assets and liabilities:
Increase in accounts receivable	2,711	(164)	(112)
(Increase) decrease in prepaid expenses and other receivables	2,257	4,719	(4,607)
(Increase) decrease in rental deposits paid out as leasee		87	19
(Increase) decrease in real estate properties under development	3,659	(59)	67,941
Increase (decrease) in accrued expenses and other payables	1,914	(170,281)	156,175
Increase (decrease) in accounts payable	(68)	(1,346)	(16,376)
Decrease in lease liabilities		(194)	(405)
Increase (decrease) in advance from customers	(15,012)	10,428	(1,355)
Increase in rental deposits from customers	(1,641)	194	98
Increase (decrease) in contract liabilities	(2,348)	5,747	(52,237)
Increase (decrease) in amount due to shareholders and other related companies	1,852	1,677	(152,461)
Total adjustments	(24,024)	(144,031)	18,151
Net cash used in operating activities	(23,914)	(114,885)	(32,297)
Cash flows from investing activities:
Purchase of property, plant and equipment	(892)
Proceeds from disposal of property, plant and equipment and other assets	28,981
Redemption of marketable securities	38,521
Payments for purchases of short term invetments	(56,031)
Proceeds from disposal of short term investments		30,796	1,610
Net cash provided by (used in) investing activities	10,579	30,796	1,610
Cash flows from financing activities:
Repayment of bank and other loans	(136,044)	(32,723)	(15,572)
Proceeds from bank and other loans	164,853	24,744	6,274
Payment of principal from finance lease	(4)	(2)	(2)
Proceeds from shares issued on private placement			21,283
Payments of repurchase of shares	(1,121)
Net cash (used in) provided by financing activities	27,684	(7,981)	11,983
Net (decrease) increase in cash and cash equivalents and restricted cash	14,349	(92,070)	(18,704)
Cash and cash equivalents and restricted cash at beginning of year	33,275	113,791	137,957
Effect of exchange rate changes on cash and cash equivalents	6,020	11,554	(5,462)
Cash and cash equivalents and restricted cash at end of year	53,644	33,275	113,791
Supplemental schedule of cash flow information:
Cash paid for amounts included in the measurement of lease liabilities		(194)	(405)
Non-cash investing activities:
Increase (decrease) in construction in progress funded through accounts payable	10,954	(20)	(1,504)
Interest paid	(8,617)	(9,685)	(8,252)
Share-based compensation expenses	$ 5,078	$ 6,241	$ 21,517

Consolidated Balance Sheets $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Current assets:
Cash and cash equivalents	$ 43,503	$ 26,861
Restricted cash	10,141	6,414
Short term investments	17,781	0
Accounts receivable	3,347	6,058
Real estate properties held for sale	22,080	52,552
Prepaid expenses and other receivables	11,617	14,492
Total current assets	108,469	106,377
Real estate properties under development, net	220,729	191,549
Property, plant and equipment, net	7,157	16,256
Real estate properties held for lease, net	128,638	135,428
Deferred income tax assets	5,689	2,114
Other assets	2,503	1,885
Total assets	473,185	453,609
Current liabilities:
Short term bank and third party loans	4,410	7,649
Current portion of long term bank loans	3,870	27,860
Accounts payable	31,561	31,629
Rental deposits from customers	799	2,465
Accrued expenses and other payables	21,346	22,152
Advance from customers	1,014	16,026
Contract liabilities	5,208	7,556
Current portion of amount due to shareholders	19,688
Total current liabilities	87,896	115,337
Long term bank loans	166,527	106,803
Long term rental deposits	1,850	1,825
Financial lease payable		4
Other payable	19,147	23,130
Deferred income tax liabilities	16,077	16,342
Amount due to shareholders		17,836
Total liabilities	291,497	281,277
Commitments and contingencies (Note 14)
Equity:
Common shares ($0.01 par value - authorized 200,000,000 shares, issued 60,203,214 and 61,295,260 shares; outstanding 60,203,214 and 60,547,760 shares as at December 31,2024 and 2025, respectively)	613	602
Treasury stock, at cost (747,500 shares as at December 31, 2025)	(1,121)
Additional paid-in capital	325,839	320,389
Accumulated deficit	(138,311)	(138,421)
Accumulated other comprehensive loss	(5,332)	(10,238)
Total shareholders' equity	181,688	172,332
Total liabilities and shareholders' equity	$ 473,185	$ 453,609