Road King Infrastructure Limited reported a consolidated loss of HK$1.44 billion for the six months ended 30 June 2026, versus a HK$1.59 billion loss in the prior-year period. Loss attributable to shareholders was HK$1.85 billion, translating into a basic loss per share of HK$2.47.
Total revenue rose to HK$4.45 billion (H1 2025: HK$1.78 billion) as the Group recognised more property deliveries, yet margins stayed under pressure: gross loss reached HK$602.29 million after HK$493.85 million of inventory write-downs.
Segment performance diverged sharply.
• Property Development and Investment booked a HK$1.19 billion loss as contracted sales fell 48 % year-on-year to RMB2.17 billion and delivery ASP in Mainland China dropped to RMB20,500 per sqm. Land acquisitions were halted and total land reserve shrank to 2.07 million sqm from 2.59 million sqm at end-2024.
• Toll Road operations in Indonesia contributed HK$125 million profit (H1 2025: HK$96 million). Average daily traffic across the four expressways increased 3 % to 93,500 vehicles, lifting toll revenue 11 % to HK$971 million despite a 6 % rupiah depreciation.
• Investment & Asset Management recorded a HK$360 million loss amid muted property fund activities and scaled-back cultural projects.
At 30 June 2026, total assets stood at HK$39.08 billion while equity attributable to owners fell to HK$3.52 billion. Net gearing climbed to 95 %, with HK$15.52 billion of interest-bearing debt—82 % represented defaulted offshore senior notes. The Group classified HK$11.79 billion of notes and HK$0.94 billion of offshore bank loans as current liabilities after payment suspension in August 2025.
Road King highlighted “material uncertainties” on going-concern status but continues to prepare an offshore debt restructuring. As of 21 August 2026, creditors holding over 75 % of offshore debt had acceded to a restructuring support agreement; Hong Kong scheme hearings are slated for October and December 2026.
Cash and cash equivalents were HK$2.36 billion, of which HK$381.78 million was restricted, versus near-term borrowings of HK$13.43 billion. Operating cash outflow was HK$232.97 million, while investing inflow dropped to HK$621.41 million on lower asset disposals and reduced repayments from joint ventures.
Management will prioritise project completions, preserve liquidity and pursue asset sales, including potential disposal of Indonesian expressways, to support the restructuring process. No interim dividend was declared.