NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025 10 FINANCIAL ASSETS Group Company Note 2025 2024 2025 2024 $’000 $’000 $’000 $’000 Non-current investments Unquoted equity investments at FVOCI – a fellow subsidiary (a) 446,884 394,133 446,884 394,133 – a non-related company 25,270 22,166 – – 472,154 416,299 446,884 394,133 Unquoted equity investments mandatorily at FVTPL – other related parties 116,533 159,421 – – – non-related companies 85,146 86,774 – – 201,679 246,195 – – Quoted equity investments at FVOCI – a fellow subsidiary 28,508 26,876 23,973 22,600 - an associate 87,027 88,609 – – 115,535 115,485 23,973 22,600 Quoted equity investments mandatorily at FVTPL – an associate 408 408 – – – non-related companies 2,328 1,708 2,129 1,337 2,736 2,116 2,129 1,337 Total non-current financial assets 792,104 780,095 472,986 418,070 Current investments Quoted equity investments mandatorily at FVTPL – an associate 90 93 90 93 – non-related companies 4,623 4,702 – – 4,713 4,795 90 93 Unquoted debt investment at amortised cost – a non-related company (b) 295,458 312,501 – – Impairment loss (295,458) (312,501) – – – – – – Total current financial assets 4,713 4,795 90 93 Total financial assets 796,817 784,890 473,076 418,163 (a) Fellow subsidiaries are subsidiaries of the immediate holding company. (b) Unquoted debt investment at amortised cost with gross carrying amount of $295,458,000 (US$230 million) (2024: $312,501,000 (US$230 million)) relates to the Group’s investment in a US$ bond issued by Chongqing Sincere Yuanchuang Industrial Co., Ltd and its subsidiaries (Sincere Property Group). As at 31 December 2025 and 31 December 2024, the issuer remained under bankruptcy reorganisation, and the bond remained unpaid and was fully impaired. The Group has no collateral in respect of this investment. ANNUAL REPORT 2025 | 159
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