AMTD IDEA Group Achieved 150% Increase in Revenue for First Half in 2025

Rhea-AI Summary

AMTD IDEA Group (TGE) reported strong H1 2025 results with revenue rising from US$36.0M to US$89.0M (about a 150% increase) and net income up 63.7% to US$68.8M for the six months ended June 30, 2025. Total assets were US$2.193B (US$3.82/share) and net asset value US$1,799M (US$3.13/share).

Drivers included a 60.3% increase in hotel, hospitality and VIP income to US$12.7M, an increase in net fair value gains on financial assets to US$56.2M, and dividend/realized gains totaling US$64.8M. Subsequent events include several hotel acquisition agreements and a sponsored SPAC IPO that raised US$150M; TGE completed a secondary London listing in Dec 2025.

Positive

• Revenue rose from US$36.0M to US$89.0M (~150%)
• Net income increased 63.7% to US$68.8M
• Net fair value gains on financial assets rose to US$56.2M
• Hospitality income grew 60.3% to US$12.7M
• SPAC IPO generated US$150M gross proceeds
• Completed secondary listing on London Stock Exchange

Negative

• Other income decreased from US$37.5M to US$15.7M
• Other operating expenses increased 22.4% to US$20.6M
• Finance costs rose to US$7.1M

Key Figures

Revenue H1 2025 US$89.0 million Six months ended June 30, 2025 (vs US$36.0 million in H1 2024)

Revenue growth ~150% increase H1 2025 vs first half of 2024

Net income H1 2025 US$68.8 million Profit grew 63.7% vs comparable period in 2024

Hotel & hospitality revenue US$12.7 million H1 2025, up from US$7.9 million (60.3% growth)

Total assets US$2.193 billion As of June 30, 2025 (US$3.82 per share)

Net asset value US$1,799 million As of June 30, 2025 (US$3.13 per share)

Other income H1 2025 US$15.7 million Down from US$37.5 million in H1 2024

SPAC IPO proceeds US$150,000,000 TGE Value Creative Solutions Corp IPO of 15,000,000 units at US$10.00

Market Reality Check

$1.08 Last Close

Volume Pre‑news volume of 141,133 shares is slightly below the 20‑day average of 162,163 (relative volume 0.87). normal

Technical Shares at $1.08 were trading below the 200‑day MA of $3.57 and about 97.08% below the 52‑week high of $37.0191.

Peers on Argus

Ahead of this earnings release, TGE was down 2.7% while peers like DMO (-0.63%), SAMG (-0.79%) and WEA (-0.36%) also showed mild weakness, suggesting modest sector softness but no strong, coordinated move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 26	Hotel acquisition SPA	Neutral	-2.6%	Executed SPA to acquire Hilton Garden Inn New York City Tribeca with deposit.
Dec 24	Multiple hotel SPAs	Neutral	+9.6%	Signed several hotel purchase agreements totaling over USD 300 million in value.
Dec 23	SPAC IPO close	Neutral	-0.9%	TGE‑sponsored SPAC closed $150 million NYSE IPO of 15,000,000 units.
Dec 22	SPAC IPO pricing	Neutral	-4.5%	Details on SPAC IPO units, warrants, and 45‑day 2,250,000‑unit over‑allotment option.
Dec 19	Marketing campaign	Neutral	+13.4%	Global L’OFFICIEL HOMMES project featuring Jay Chou across seven editions.

Pattern Detected

Recent company news (hotel acquisitions, SPAC IPO, branding initiatives) has produced mixed single‑day price reactions, with both double‑digit gains and modest declines.

Recent Company History

Over the past weeks, TGE’s news flow has centered on expansion and capital‑markets activity. On Dec 19, a global L’OFFICIEL HOMMES campaign coincided with a 13.38% gain. Subsequent SPAC IPO headlines on Dec 22 and Dec 23 saw moves of -4.55% and -0.95%. Hotel acquisition agreements announced on Dec 24 and Dec 26 produced reactions of +9.62% and -2.63%. Against this backdrop, today’s strong first‑half 2025 results extend the narrative of portfolio growth in media and hospitality.

Market Pulse Summary

This announcement highlights a substantial step‑up in scale, with revenue reaching US$89.0 million and profit of US$68.8 million for the first half of 2025, alongside expanding hospitality and SPAC‑related activities. Total assets of US$2.193 billion and net asset value of US$1,799 million frame the balance‑sheet base. Investors may watch how hotel acquisitions close, how new concepts like L’Officiel Coffee scale, and whether earnings quality remains strong given lower other income and higher operating costs.

Key Terms

net asset value financial

"Net asset value amounted to US$1,799 million (US$3.13/share)"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

SPAC financial

"specializing in SPAC sponsor manager services"

A special purpose acquisition company (SPAC) is a company formed specifically to raise money through an initial public offering (IPO) with the goal of buying or merging with an existing private company. For investors, a SPAC offers a way to invest in a potential future business without initially knowing which company it will acquire, making it a way to access new investment opportunities that might otherwise be difficult to invest in directly.

special purpose acquisition company financial

"TGE Value Creative Solutions Corp, a special purpose acquisition company (SPAC)"

A special purpose acquisition company (SPAC) is a company formed with the sole purpose of raising money through a public offering to buy or merge with an existing private business. It acts like a vehicle that allows private companies to go public more quickly and with less complexity. For investors, it offers an opportunity to invest early in a potential acquisition, though it also carries risks if the intended deal doesn’t materialize.

initial public offering financial

"successfully completed its successful initial public offering of 15,000,000 units"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

Class A ordinary shares financial

"TGE's entire issued Class A ordinary shares are traded on both NYSE"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

warrants financial

"warrants by selling securityholders"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

AI-generated analysis. Not financial advice.

• AMTD IDEA Group Achieved ~150% Increase in Revenue
• Total Net Income Surged 63.7% to US$68.8 million
• Hospitality arm's revenue increased by over 60%
• Total Assets amounted to US$2.193 billion (US$3.82/share)
• Net asset value amounted to US$1,799 million (US$3.13/share) 

PARIS and NEW YORK and SINGAPORE, Dec. 30, 2025 /PRNewswire/ -- AMTD IDEA Group ("AMTD IDEA" or the "Company", NYSE: AMTD; SGX: HKB), a NYSE and SGX-ST dual listed company and also a group holding platform for (i) digital solutions and business services, (ii) media, entertainment and cultural areas of businesses, and (iii) global property assets, hospitality and VIP services announced today its unaudited financial results for the six months ended June 30, 2025.

Highlights of Half Year Financial Results

• The Company, through its subsidiary, The Generation Essentials Group ("TGE", NYSE: TGE; LSE: TGE), owns the AMTD L'Officiel's intellectual properties ("IP") globally and maintains its operations through direct owner's model and franchisee network in over 30 countries and regions. In the six months ended June 30, 2025, the Company started its first IP extended businesses sub-vertically to commence L'Officiel Coffee. Featuring carefully curated specialty coffees, beautifully crafted sweets including L'Officiel mousse cakes, L'Officiel magazine cakes, and a stylish space at Omotesando, Japan. L'Officiel Coffee's popularity has grown rapidly, establishing it as a vibrant social and cultural hotspot beloved by influencers, local communities, and visitors alike. TGE has announced plans to roll out L'Officiel Coffee globally and target to open 15-20 L'Officiel Coffee shops worldwide over next three years.
  
  
• Hotel operations, hospitality and VIP services income rose from US$7.9 million in the comparable period to US$12.7 million for the six months ended June 30, 2025, representing a 60.3% growth.
  
  
• The Company recorded dividends, realized gains on disposed financial assets and unrealized fair value gain on financial assets at fair value through profit or loss for the six months ended June 30, 2025, totaling US$64.8 million.

Statement from the Board Members and Senior Management:

Mr. Xavier Zee, CFO of the Company and CEO of TGE Value Creative Solutions Corp (a subsidiary of the Company) specializing in SPAC sponsor manager services, "We are proud to deliver another half year of strong performance, reflecting our resilience and unwavering commitment to sustainable growth and long-term growth. Our impressive results demonstrate that our strategic vision and collaborative efforts across our diversified portfolio of businesses in media, entertainment, and hospitality sectors are driving meaningful outcome. With the successful listing of our first sponsored SPAC (TGE Value Creative Solutions Corp) in December 2025, we are confident of future value creation for our stakeholders through a continual diversification of our business portfolio".

Financial Results for the Six Months Ended June 30, 2025

Revenue

The Company's revenue for the six months ended increased from US$ 36 million in the first half in 2024 to US$89.0 million in the first half in 2025. The increment was primarily attributable to: -

• Hotel operations, hospitality and VIP services income rose from US$7.9 million to US$12.7 million, representing a 60.3% growth.
  
  
• Dividend and gain related to disposed financial assets at fair value through profit or loss changed from US$8.7 million, to US$8.6 million.
  
  
• Net fair value changes on financial assets at fair value through profit or loss rose from US$7.2 million to US$56.2 million. The increase was mainly attributable to the unrealized gain on the Company's investment portfolio in the first half in 2025.

Other Income And Gains

Other income decreased from US$37.5 million for the comparable period in 2024 to US$15.7 million for the current period, mainly due to the disposal of the entire equity interests in certain of the Company's subsidiaries engaging in non-core business during 2024.

Other Operating Expenses

Other operating expenses for the six months ended June 30, 2025 increased by 22.4% as compared to the same period in prior year to US$20.6 million, primarily attributable to an increase in the Company's hotels' depreciation charges and other operating costs recognized from the Company's hotels in line with the increase in revenue generated from the Company's hotel operation, as well as the capital expenditures required to launch the Company's L'Officiel Coffee in Japan.

Staff Costs

Staff costs for the six months ended June 30, 2025 remained relatively flat as compared to the same period in prior year at US$6.6 million.

Finance Costs

Finance costs for the six months ended June 30, 2025 increased slightly compared to the same period in prior year to US$7.1 million. The Company is committed towards continuous efforts in enhancing the Company's asset liability management strategies.

Income Tax Expense

Income tax expense for the six months ended June 30, 2025 remained steady compared to the comparable period in 2024 at US$1.5 million.

Profit For The Period

The Company recorded a profit of US$68.8 million in the six months ended June 30, 2025, a growth of 63.7% as compared to the comparable period in 2024, mainly resulting from the additional contribution recognized from the Company's hospitality businesses and the gain on its investment portfolio.

Subsequent events

TGE has successfully executed the sale and purchase agreement for the acquisition of 100% interests in the Hilton Garden Inn New York City Tribeca with the payment of an irrevocable deposit in December 2025, and the goal of closing the acquisition of this hotel within the next two months. Closing of the acquisition is subject to customary closing conditions.

TGE has successfully entered into a sale and purchase agreement to purchase an 80% stake in the Upper View Regalia Hotel in Kuala Lumpur, Malaysia. The aggregate consideration of the transaction is HK$300 million (equivalent to approximately US$38.6 million). Closing of the acquisition is subject to customary closing conditions.

TGE has successfully entered into a sale and purchase agreement with FEC Holdings and FEC Hotel (the "Vendors"), whereby the Vendors have agreed conditionally to sell, and the Purchaser has agreed conditionally to purchase a 50% stake in the Ritz Carlton Hotel in Perth Australia with a total value at A$280 million. Closing of the acquisition is subject to customary closing conditions.

TGE Value Creative Solutions Corp, a special purpose acquisition company (SPAC) sponsored by TGE, successfully completed its successful initial public offering of 15,000,000 units at $10.00 per unit in December 2025. The offering resulted in gross proceeds to the Company of US$150,000,000.

TGE successfully completed the secondary listing on the London Stock Exchange in December 2025. TGE's entire issued Class A ordinary shares are traded on both NYSE and London Stock Exchange's main market.

About AMTD IDEA Group

AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients' diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as "Twitter") at @AMTDGroup.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group with the SEC. All information provided in this press release is as of the date of this press release, and AMTD IDEA Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

AMTD IDEA GROUP
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025

	Six months ended June 30,
	2024			2025
	US$'000			US$'000
	(audited)			(unaudited)
REVENUE
Digital solutions and other services income	1,722			1,607
Fashion, arts and luxury media advertising and marketing services income	10,446			9,976
Hotel operations, hospitality and VIP services income.	7,905			12,668
Dividends and gains from disposed financial assets
at fair value through profit or loss	8,660			8,612
Net fair value changes on financial assets at fair value through profit or loss (except derivative financial assets and gains from disposed financial assets at fair value through profit or loss)	7,220			56,176
	35,953			89,039
Other income and gains	37,454			15,664
Other operating expenses	(16,867)			(20,641)
Staff costs	(6,400)			(6,640)
Finance costs	(6,240)			(7,054)
PROFIT BEFORE TAX	43,900			70,368
Income tax expense	(1,868)			(1,544)
PROFIT FOR THE PERIOD	42,032			68,824
Attributable to:
Owners of the company
Ordinary shareholders	40,523			43,206
Holders of perpetual securities	2,141			2,157
Non-controlling interests	(632)			23,461
	42,032			68,824
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY
EQUITY HOLDERS OF THE COMPANY
Class A ordinary shares:
Basic (US cents per share)	10.22				8.25
Diluted (US cents per share)	10.22				8.25
Class B ordinary shares:
Basic (US cents per share)	10.22				8.25
Diluted (US cents per share)	10.22				8.25

AMTD IDEA GROUP
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS AT DECEMBER 31, 2024 AND JUNE 30, 2025

			December 31, 2024		June 30, 2025
			US$'000		US$'000
			(audited)		(unaudited)
ASSETS
Current assets
Accounts receivable			7,029		6,379
Prepayments, deposits and other receivables			23,346		31,969
Due from immediate holding company			1,400,612		1,425,213
Financial assets at fair value through profit or loss			24,987		80,467
Other assets			609		-
Cash and bank balances			62,872		52,818
Total current assets			1,519,455		1,596,846
Non-current assets
Property, plant and equipment			291,449		340,195
Intangible assets			119,381		118,087
Financial assets at fair value through profit or loss			139,633		138,125
Total non-current assets			550,463		596,407
Total assets			2,069,918		2,193,253
LIABILITIES AND EQUITY
Current liabilities
Accounts payable			3,640		5,190
Bank borrowings			63,539		101,642
Due to a non-controlling shareholder			63,019		64,255
Other payables and accruals			10,396		21,709
Tax payable			2,539		3,074
Total current liabilities			143,133		195,870
Non-current liabilities
Bank borrowings			219,434		191,176
Deferred tax liabilities			5,658		5,597
Provisions			1,664		2,079
Total non-current liabilities			226,756		198,852
Total liabilities			369,889		394,722

AMTD IDEA GROUP
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(CONTINUED)
AS AT DECEMBER 31, 2024 AND JUNE 30, 2025

			December 31, 2024		June 30, 2025
			US$'000		US$'000
			(audited)		(unaudited)
Equity
Share capital			48		76
Treasury shares			(734,658)		(728,932)
Reserves			2,092,270		2,115,664
Total equity attributable to ordinary shareholders of the Company			1,357,660		1,386,808
Non-controlling interests			108,124		180,436
Perpetual securities			234,245		231,277
Total equity			1,700,029		1,798,531
Total liabilities and equity			2,069,918		2,193,253

For AMTD IDEA Group:
IR Office
AMTD IDEA Group
EMAIL: ir@amtdinc.com

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SOURCE AMTD IDEA Group

FAQ

What was AMTD IDEA Group (TGE) revenue for H1 2025?

TGE reported H1 2025 revenue of US$89.0M, up from US$36.0M in H1 2024.

How much profit did AMTD IDEA Group (TGE) report for the six months ended June 30, 2025?

TGE reported a profit of US$68.8M, a 63.7% increase year-over-year.

What drove TGE's revenue and profit growth in H1 2025?

Growth was driven by a 60.3% increase in hotel and hospitality income and large unrealized gains on financial assets.

Did TGE complete any listings or capital raises in 2025?

Yes. TGE completed a secondary listing on the London Stock Exchange in Dec 2025 and a sponsored SPAC IPO raised US$150M gross proceeds.

What hotel acquisitions did TGE announce after June 30, 2025?

TGE announced agreements to acquire the Hilton Garden Inn NYC Tribeca (deposit paid), an 80% stake in Upper View Regalia Hotel (HK$300M ~ US$38.6M), and a conditional 50% stake in Ritz Carlton Perth (A$280M).

Are the announced hotel acquisitions closed?

No. The hotel transactions are subject to customary closing conditions and have not been reported as closed.