德祥地产2024-2025中期报告

199 2024-2025 24561318192022232551 GBSJP • GBSJP GBSJP GBSJP Clarendon House2 Church StreetHamilton HM 11Bermuda 1230 Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda 1617 www.itcproperties.com 199 2024-2025202411 272024-202520256 www.itcproperties.com 1617itcproperties-ecom@hk.tricorglobal.com 91,100,0009,700,000100,800,000 8BayshoreVentures JV Ltd.50%220,400,000Bayshore Ventures JV Ltd.202410175,000,00050%87,500,000505,000,000 (i)1488 Alberni Investment Limited Partnership1488 Alberni DevelopmentHoldings Limited Partnership10%(ii)10%(iii)Assets Builder Investments Limited10% (i)85,000,00020239 30(ii)45,000,000202393035,000,000(iii)11,500,00020239 30(iv)43,900,00020239 3060,800,000504,300,000161,000,000 2023 229,300,000103,100,00085,000,00045,000,00011,500,00043,900,000 2024433,000,00020239 3043,000,000 72%2123 25 27 29 3120228 2320%202410 Greycoat Place20238 20249 3028%Alberni Street10%18% 225,600,00020239 3012,100,00050%220,400,000 20243 3120%820243 31136,200,000 1. 2. 80% 3. 4. 20243 31136,200,000 20249 3020249 30 1,168,600 15,800,00020239 3016,800,000 20249 3044,000,00067%33% 20249 30114,600,00020243 31121,000,000 2,300,00020239 304,600,0005,100,00020239 305,700,0007,400,00020239 301,000,000 20249301,182,900,00017,200,0002,469,300,00020249 300.4720243 310.46935,000,000247,700,000 20249 30982,900,000396,000,000 504,300,00058,600,00020249 301,182,900,00017,200,000 (1) 20248 2850%18,500,000106,800,00034,600,00012,500,00072,200,000 202410 3110%5,360,00030,600,00030,600,000 (2) 396,000,0004,700,000 (3) 22,600,000 2024930424,000,000146,000,000442,100,0001,015,500,000286,900,000 20249 30(i)50%28%45,100,00020243 3140,800,000138,400,00020243 31138,500,00091,100,00020243 3191,100,000225,500,00020243 31225,700,000(ii)20%242,500,00020243 31242,500,000242,500,00020243 31242,500,000 202410 31Assets Builder Investments Limited1488 Alberni Development Holdings Limited Partnership1488 Alberni Investment Limited Partnership10%5,360,000202410 31108,800,000202410 31 20249 3011220243 31130 20249 30907,198,410 20249 30XV(i)XV78(ii)352(iii) 20249 30XV(i)XV78(ii)352(iii) 20219 1020219 1020319 910 20219 2816,320,0001.0320224 120259 3025%(i)20224 120259 30(ii)202210120259 30(iii)20234 120259 30(iv)202310120259 3084,897,54186,097,541 20249 30XV23336 20249 30XV23336 • (i)(ii)2023-20242024331 13.51B(1) (i) 13.51B(1) 2024930 (i)20103 13 2024930 1. 34D2 20249 30529,680,00058,573,0001,182,891,000982,891,00017,222,0001820249 30396,000,000 20248 2850%18,500,000106,800,00034,600,00012,500,00072,200,000 202410 3110%5,360,00030,600,00030,600,000 (ii) 20249 30396,000,0004,700,000 (iii) 2024930 1. (i)(ii)(iii) 2. 20249 3020243 31 20244 1 52020 161 177 2024930 3. –––– 2024930 3. 2024930 3. (a)(b)(c)20249 3045,000,00020239 3035,000,00011,525,00020239 3040,425,00043,940,000202393054,863,00060,756,000 2024930 3. • • 4. 5. 2024930 6. 2,000,0008.25%2,000,00016.5%16.5% 7. 2024930 8. 20249 3020239 30 9. 202320249 3020219 2820 2024930 10. 45,000,0002024930202393035,000,000 20249 3020243 31 2024930 20239 305,000,00029,130,0002024930 2024930 12. (a)1488 Alberni LPDH1488 Alberni LPI1488 Alberni LPDH1488 Alberni LPI1488 Alberni LPDH1488 Alberni LPI10%26 (b)20249 30Bayshore50%50,864,000293,586,000376,0002,169,00018,500,000106,781,0002,252,00029,182,000220,408,0006,000,00034,631,00012,500,00072,150,000 (c)20124 11More Cash LimitedMore CashMore Cash 2024930 (a)20243 3120243 3120243 31(i)(ii)20243 31136,223,000202433120243 31136,223,000 20249 30 (b)20249 3046,002,00020243 3136,802,00035,630,00020243 3135,630,000 2024930 13. (a)(b)Quota capital(c)20249 3020243 3159.5%8.7%35.5%(d) 2024930 163 (i)(ii)(iii) 2024930 14. (a)20249 3020243 31320,000,00020243 31320,000,0009.520243 319.5201911272020620212 864,327,00020243 3164,327,00020,757,00020243 3120,757,00071220243 31712(b)20249 3030,414,00020243 3136,775,0008,515,00020243 312,154,000720243 3172024913(c)20249 3019,875,00020243 3119,875,00013,373,00020243 3113,373,000220243312 20249 30520243 3157.8820243 317.5320249 306,361,00020239 30633,000 2024930 15. 20249 30428,970,00020243 31428,640,000 60202433160 2024930 16. 060 20249 301,012,00020239 30352,00021,739,00020239 30 17. 20249 30182,103,0002024331193,423,000 18. 20249 30248,000,000202393045,115,000438,425,00020239 30165,768,000 20249 30396,000,00020249 305.7413.6320243 316.508.06 2024930 19. 2024930 20. 20219 1020229 1020319 910 20219 2816,660,0000.5216,320,00020249 3020239 30104,000 20219 281,175,000990,000152,000 1.011.0326.85%40.66%3.96% 2024930 20. 20. (i)800,000(ii)300,000(iii)20239 18300,00020243 31 141616 20249 3020243 31 2024930 22. ••• 2024930 22. (ii)20249 3020243 315%1,484,00020243 311,747,000 2024930 24. 20249 30426,010,00020243 31911,121,000 20249 3020243 31 25. (i) (a)(b)Vectr 2024930 25. (ii) 26. 202410 31Assets Builder In