Notes to the Financial Statements For the financial year ended 31 December 2025 Notes to the Financial Statements For the financial year ended 31 December 2025 17. NON-CONTROLLING INTERESTS (continued) Chengdu Ruifeng Xi’an West Xi’an East Tongzhou Phase 1 Tongzhou Phase 2 PSIH Group Perennial Business City Other immaterial NCI Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 31 December 2024 Revenue 15,888 – – – – – 12,491 Profit/(loss) after tax 9,642 (28,288) (580) (24,749) (44) 93,506 (11,924) OCI (6,917) (4,877) (1,534) (17,863) (7,608) – – Total comprehensive income 2,725 (33,165) (2,114) (42,612) (7,652) 93,506 (11,924) Attributable to NCI: - Profit/(Loss) after tax 1,928 (9,703) (199) (11,040) (12) 18,346 (4,412) 14,802 9,710 - OCI (1,383) (1,673) (526) (10,717) (2,100) – – (1,722) (18,121) Total comprehensive income 545 (11,376) (725) (21,757) (2,112) 18,346 (4,412) 13,080 (8,411) Non-current assets 745,385 132,846 60,302 1,252,914 555,285 1,651,401 374,839 Current assets 22,509 190,780 139,987 653,323 5,141 201,813 10,536 Non-current liabilities (225,214) 42,332 (2,325) (507,801) – (1,019,085) (240,676) Current liabilities (43,591) (19,646) (21,899) (239,780) (195) (117,015) (71,090) Net assets 499,089 346,312 176,065 1,158,656 560,231 717,114 73,609 Net assets attributable to NCI 99,818 118,785 60,390 694,509 154,605 140,696 27,235 Other adjustments – – – – – 21,369 – NCI at end of the year 99,818 118,785 60,390 694,509 154,605 162,065 27,235 30,976 1,348,383 Cash flows from/ (used in) operating activities 10,965 (7,668) 69,417 (12,551) (169) 74,543 3,333 Cash flows from/ (used in) investing activities 3,180 2,284 (60,289) (66,569) (495) (56,065) (10,967) Cash flows (used in)/ from financing activities (17,550) 7,311 (9,820) 78,272 – (29,550) 10,197 Net (decrease)/ increase in cash and cash equivalents (3,405) 1,927 (692) (848) (664) (11,072) 2,563 18 REVENUE Group 2025 2024 $’000 $’000 Revenue from sale of development properties 53,450 – Revenue from hotel operations 1,785 1,094 Revenue from real estate management services 23,416 28,840 Revenue from healthcare services 21,416 1,288 100,067 31,222 Property rental and related income 78,966 84,697 179,033 115,919 18 REVENUE (continued) Disaggregation of revenue from contracts with customers In the following table, revenue from contracts with customers is disaggregated by timing of revenue recognition. Group 2025 2024 Point in time Over time Total Point in time Over time Total $’000 $’000 $’000 $’000 $’000 $’000 Revenue from sale of development properties 53,450 – 53,450 – – – Revenue from hotel operations 1,785 – 1,785 1,094 – 1,094 Revenue from real estate management services 401 23,015 23,416 1,056 27,784 28,840 Revenue from healthcare services 13,165 8,251 21,416 1,288 – 1,288 68,801 31,266 100,067 3,438 27,784 31,222 19. OTHER INCOME Group 2025 2024 $’000 $’000 Change in fair value of investment properties (1,839) 45,464 Others 10,787 50,982 8,948 96,446 In 2024, included in Others is an amount of $50.0 million relating to sales tax savings arising from a restructuring exercise undertaken by the Group. 20. NET FINANCE COSTS Group 2025 2024 $’000 $’000 Interest income on loans to associates and joint ventures 2,361 4,760 Interest income on bank deposits 1,680 2,766 Finance income 4,041 7,526 Interest expense on financial liabilities measured at amortised cost (169,126) (216,170) Less Borrowing costs capitalised in: - investment properties 16,796 19,380 - development properties 12,252 13,674 Finance costs (140,078) (183,116) Net finance costs recognised in profit or loss (136,037) (175,590) OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 219 218 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025
RkJQdWJsaXNoZXIy NTM2MDQ5