Small cap high net worth 213 Funai Electric ——Toronto real estate

$NATIONAL ELEC H(00213.HK)

NATIONAL ELECTRONICS HOLDINGS LIMITED

Watch manufacturing and watch accessories trading, residential and other property development and investment, commercial property investment

Non-current assets HKD 3.9 billion, including properties HKD 3.3 billion
Current assets HKD 5.6 billion, including properties under development for sale HKD 4.6 billion, cash HKD 530 million
Current liabilities HKD 5 billion, including loans HKD 3.8 billion
Non-current liabilities HKD 1.87 billion, including loans HKD 1.79 billion

Property assets are distributed in Canada (Toronto) (55%), Hong Kong (15%), Guangzhou, Beijing and London
Both assets and liabilities are heavily real estate-oriented, with core business being marginalized.

Family trust holds 62%, and one director holds 4.5% additionally

This year, the company has repurchased hundreds of thousands of shares cumulatively, which is quite sincere considering liquidity. Moreover, it insists on paying dividends, although quite low, but the fact that it keeps paying dividends already beats many companies.

Analyzed with GPT, it's said that Toronto real estate may stabilize in 26-27, so the impact on financial reports will be after 28.
Keep observing to see whether debt explodes first or real estate recovers first.