$AMTD

AMTD IDEA GROUP

CIK:0001769731|SEC Filings

Consolidated Statements of Profit or Loss and Other Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
REVENUE
Digital solutions and other services income	$ 2,889	$ 3,396	$ 13,469
Media advertising and marketing services income	17,740	18,859	14,474
Hotel operations, hospitality and VIP services income	27,965	23,132	10,301
Dividend income and gain from disposed financial assets at fair value through profit or loss (“FVTPL”) and settled derivative financial assets	8,616	8,681	133,569
Net fair value changes on financial assets at FVTPL (except gain from disposed financial assets at FVTPL and settled derivative financial assets)	44,005	26,389	(40,899)
Revenue	101,215	80,457	130,914
Other income	33,632	18,931	22,942
Other gain	1,514	24,757	68,797
Impairment losses under expected credit loss model on financial assets			(4,988)
Other operating expenses	(41,310)	(39,473)	(29,351)
Staff costs	(13,490)	(15,471)	(20,083)
Finance costs	(12,742)	(13,425)	(8,199)
Share of losses of joint ventures		(559)	(2,335)
PROFIT BEFORE TAX	68,819	55,217	157,697
Income tax expense	(1,568)	(1,639)	(4,314)
PROFIT FOR THE YEAR	67,251	53,578	153,383
Owners of the parent:
- Ordinary shareholders	41,440	46,727	134,436
- Holders of perpetual securities	2,158	4,312	8,558
Non-controlling interests	23,653	2,539	10,389
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
PROFIT FOR THE YEAR	67,251	53,578	153,383
OTHER COMPREHENSIVE INCOME
Exchange differences on translation of foreign operations	(1,652)	(2,415)	(2,382)
Share of other comprehensive income (expense) of joint ventures		1,842	(306)
Cumulative exchange differences reclassified to profit or loss upon disposal of foreign operations			2,695
Exchange differences on translation from functional currency to presentation currency	(3,674)	7,984	(489)
OTHER COMPREHENSIVE (EXPENSE) INCOME FOR THE YEAR	(5,326)	7,411	(482)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	61,925	60,989	152,901
Owners of the parent:
- Ordinary shareholders	37,101	54,204	134,116
- Holders of perpetual securities	2,158	4,312	8,558
Non-controlling interests	22,666	2,473	10,227
Total comprehensive income for the year	$ 61,925	$ 60,989	$ 152,901
Class A Ordinary Shares
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
Basic (in Dollars per share)	$ 0.08	$ 0.12	$ 0.37
Diluted (in Dollars per share)	0.08	0.12	0.37
Class B Ordinary Shares
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
Basic (in Dollars per share)	0.08	0.12	0.37
Diluted (in Dollars per share)	$ 0.08	$ 0.12	$ 0.37

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax	$ 68,819	$ 55,217	$ 157,697
Adjustments for:
Interest income	(33,516)	(18,919)	(20,192)
Finance costs	12,742	13,425	8,199
Depreciation of property, plant and equipment	9,904	6,730	1,766
Amortization of intangible assets	9	115	857
Dividend income	(8,616)	(8,681)	(9,935)
Gain on disposed financial assets at FVTPL and settled derivative financial assets			(123,634)
Gain from a bargain purchase			(4,469)
Gain on disposal of subsidiaries	(1,388)	(24,757)	(64,328)
Net fair value changes on financial assets at FVTPL (except derivative financial assets)	(44,005)	(26,389)	40,899
Fair value gain on over-allotment option	(126)
Share of losses of joint ventures		559	2,335
Impairment losses under expected credit loss model on financial assets			4,988
Operating cash flows before changes in working capital	3,823	(2,700)	(5,817)
(Increase)/decrease in accounts receivable	(100)	(4,113)	10,668
Decrease/(increase) in prepayments, deposits and other receivables	2,455	(1,352)	5,326
Increase in other payables and accruals	3,595	1,159	15,570
(Increase)/decrease in restricted cash	664	(72)	280
Increase/(decrease) in provisions	743	142	(355)
Changes in accounts payable and other assets	(2,730)	1,603	(1,156)
Payment of operating lease liabilities	(247)	(280)	(81)
Cash generated from/(used in/ operations	8,203	(5,613)	24,435
Profits tax paid	(862)		(1,605)
Dividend received	8,616	8,681	9,935
Interest received	1,878	2,091	7,213
Net cash generated from operating activities	17,835	5,159	39,978
CASH FLOWS FROM INVESTING ACTIVITIES
Addition to property, plant and equipment	(746)	(8)	(72)
Addition to financial assets at FVTPL	(150,000)	(7,228)	(1,591)
Decrease/(increase) in amount due from immediate holding company	59,314	(41,422)	(404,364)
Acquisition of subsidiaries, net of cash acquired		4,273	1,347
Net cash outflow from disposal of subsidiaries	(929)	(953)	(514)
Deposits paid for acquisitions	(82,609)
Acquisition of additional interests in subsidiaries			(1,647)
Collection of consideration receivable			90,687
Amount received from former subsidiaries			23,860
Amount received from a non-controlling shareholder of a subsidiary			20,000
Amount received from amounts due from joint ventures			6,515
Advance to a non-controlling shareholder of a subsidiary			(1,561)
Proceeds from disposal of financial assets at FVTPL			373
Net cash used in investing activities	(174,970)	(45,338)	(266,967)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares			93,600
Proceeds from issuance of shares of subsidiaries	163,166		100,000
Costs directly attributable to issuance of shares of subsidiaries	(2,274)
Repayment of bank borrowings	(164)	(16,757)	(396)
Repayment to non-controlling shareholder of a subsidiary		(15,675)
Proceeds from bank borrowings		33,000	25,000
Distribution to perpetual securities holders	(2,171)	(4,305)	(2,796)
Finance costs paid	(13,082)	(13,603)	(6,060)
Net cash flows generated from/(used in) financing activities	145,475	(17,340)	209,348
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(11,660)	(57,519)	(17,641)
Cash and cash equivalents at beginning of year	62,872	120,234	138,297
Effect of foreign exchange rate change, net	(138)	157	(422)
CASH AND CASH EQUIVALENTS AT END OF YEAR	51,074	62,872	120,234
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS
Cash and bank balances	$ 51,074	$ 62,872	$ 120,234

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Accounts receivable	$ 7,113	$ 7,029
Prepayments, deposits and other receivables	21,437	23,346
Due from immediate holding company	1,346,526	1,400,612
Financial assets at FVTPL	8,327	24,987
Other assets		609
Cash and bank balances	51,074	62,872
Total current assets	1,434,477	1,519,455
Non-current assets
Property, plant and equipment	314,069	291,449
Intangible assets	119,099	119,381
Deposits	82,609
Financial assets at FVTPL	350,060	139,633
Total non-current assets	865,837	550,463
Total assets	2,300,314	2,069,918
Current liabilities
Accounts payable	1,532	3,640
Bank borrowings	83,232	63,539
Other payables and accruals	10,144	10,396
Due to a non-controlling shareholder	64,081	63,019
Tax payable	3,426	2,539
Total current liabilities	162,415	143,133
Non-current liabilities
Bank borrowings	208,910	219,434
Deferred tax liabilities	5,645	5,658
Deferred underwriting commissions	6,000
Provisions	2,407	1,664
Total non-current liabilities	222,962	226,756
Total liabilities	385,377	369,889
Commitments and Contingencies
Redeemable shares issued by TGE SPAC (as defined in note 2)	150,110
Equity
Treasury shares	(734,658)	(734,658)
Capital reserve	1,163,520	1,175,546
Exchange reserve	5,809	10,148
Retained profits	940,665	906,576
Total equity attributable to ordinary shareholders of the Company	1,375,400	1,357,660
Non-controlling interests	177,104	108,124
Perpetual securities	206,559	234,245
Warrants	5,764
Total equity	1,764,827	1,700,029
Total liabilities, redeemable shares issued by TGE SPAC and equity	2,300,314	2,069,918
Class A Ordinary Shares
Equity
Ordinary shares, value	24	22
Class B Ordinary Shares
Equity
Ordinary shares, value	$ 40	$ 26