（於香港註冊成立之有限公司） （股份代號：27） 各位股東： 銀河娛樂集團有限公司（「本公司」） - (1) 年度報告、通函、二零二五年股東週年大會通告及代表委任表格（統稱為「本次公司通訊」）及《2024年環境、社會及管 治報告》之發佈通知; 及 (2) 以電子方式發佈公司通訊之安排 本公司之股東週年大會將於2025年5月8日（星期四）下午2時30分假座香港中區法院道太古廣場港島香格里拉大酒店五樓香島殿 舉行。本公司的本次公司通訊的英文及中文版本已上載於本公司網站(www.galaxyentertainment.com)及香港交易及結算所有限公 司（「香港交易所」）網站(www.hkexnews.hk)。 閣下可在本公司網站主頁「投資者關係」一欄內或在香港交易所網站開啟並 瀏覽本次公司通訊。 閣下須使用Adobe® Reader® 開啟有關文件。如 閣下已選擇收取公司通訊的印刷本，隨本函件附上 閣 下所選擇語言版本的本次公司通訊的印刷本。如 閣下若因任何理由以致在收取或接收載於本公司網站上的本次公司通訊出現 困難或欲收取本次公司通訊之印刷本，本公司將於收到 閣下要求後，盡快向 閣下免費發送本次公司通訊的印刷本 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GALAXY ENTERTAINMENT GROUP LIMITED 27 二零二五年股東週年大會通告 茲訂於二零二五年五月八日（星期四）下午二時三十分假座香港中區法院道太古廣場港島 香格里拉大酒店五樓香島殿召開銀河娛樂集團有限公司（「本公司」）二零二五年股東週年 大會，以商議下列事項： 8.1 「動議 (a) 在下文(b)段之限制下，批准以一般性及無條件授權本公司董事在有關期間 內行使本公司所有權力以購買本公司之股份； - 1 - 1. 省覽及討論截至二零二四年十二月三十一日止年度之經審核財務報表及董事會與核 數師報告書； 2. 宣派截至二零二四年十二月三十一日止年度之末期股息； 3. 重選鄧呂慧瑜女士為董事； 4. 重選葉樹林博士為董事； 5. 重選萬卓祺先生為董事； 6. 釐定董事酬金； 7. 重聘核數師及授權董事釐定核數師酬金； 8. 作為特別事項考慮並酌情通過下列決議案為普通決議案： 「有關期 ...

此乃要件 請即處理 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 閣下如對本通函任何內容或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他註冊證 券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓所有名下之銀河娛樂集團有限公司股份，應立即將本通函及隨附之代表委 任表格送交買主或承讓人，或經手買賣或轉讓之銀行、股票經紀或其他代理商，以便轉交買主 或承讓人。 本通函應連同隨附截至二零二四年十二月三十一日止年度之年報一併閱讀。 GALAXY ENTERTAINMENT GROUP LIMITED 27 建議重選退任董事、 回購股份及發行股份及轉售庫存股之一般授權 及 二零二五年股東週年大會通告 銀河娛樂集團有限公司謹訂於二零二五年五月八日（星期四）下午二時三十分假座香港中區法院 道太古廣場港島香格里拉大酒店五樓香島殿召開二零二五年股東週年大會，召開二零二五年股 東週年大會之通告載於本通函第13至17頁。 不論 閣下能否出席大會， ...

銀河娛樂集團有限公 司 2024 年 環境、社會及管治報告 P02/ 關於本報告 P02/ 報告期間及範圍 P02/ 報告框架 P03/ 前言 P06/ 關於銀娛 P07/ 二零二四年可持續發展摘要 P08/ 可持續發展方針 P09/ 環境、社會及管治 P10/ 持份者參與及重要性評估 P12/ 我們的運營 P13/ 顧客至上 P14/ 負責任博彩 P17/ 負責任商業行為 P20/ 負責任供應鏈 P25/ 環保承諾 P26/ 環境控制 P27/ 能源與氣候韌性 P34/ 資源循環 P36/ 融入綠化景觀 P39/ 氣候足跡 P40/ 治理 P41/ 戰略 P41/ 風險管理 P46/ 指標與目標 P48/ 團隊成員協作 P49/ 人才管理 P53/ 職業健康與安全 P57/ 人才強企 P60/ 社區影響 P61/ 主要項目 P71/ 附錄 P71/ 獎項、認證及嘉許 P73/ 表現數據摘要 P77/ 香港交易所環境、社會及管治內容索引 P82/ 國際財務報告可持續披露準則第2號 —氣侯相關披露內容索引 P32/ 水資源管理 關於本報告 關於本報告 本報告為銀河娛樂集團有限公司（「銀娛」或「公司」）及其附屬公 ...

Business Strategy and Market Position - Galaxy Entertainment Group aims to become Asia's leading gaming and entertainment company, leveraging its understanding of local markets and Chinese culture as a competitive advantage[5]. - The company has a clear positioning as a leading operator of integrated gaming and leisure facilities, focusing on demand-driven strategies[6]. - The group has a strong financial performance, being a constituent of the Hang Seng Index since June 2013, indicating its market significance[14]. - Galaxy Entertainment's strategic partnership with Monte-Carlo SBM was established in 2017, enhancing its international presence[17]. - The company is focusing on enhancing its resorts with new dining and retail options to maintain competitiveness and customer appeal[85]. - The company is committed to creating sustainable value for shareholders and stakeholders through long-term growth strategies[118]. - The company is committed to sustainable development, implementing initiatives such as replacing all guest and team member buses with new energy vehicles and installing more electric vehicle charging stations and solar panels[181]. Financial Performance - The group's net revenue reached HKD 43.4 billion, an increase of 22% year-on-year[38]. - Adjusted EBITDA for the group was HKD 12.2 billion, up 22% year-on-year[39]. - Shareholders' profit attributable to the group was HKD 8.8 billion, reflecting a 28% year-on-year increase[38]. - Non-gaming revenue amounted to HKD 6.4 billion, a year-on-year increase of 18%[39]. - The group maintained a strong balance sheet with cash and liquid investments totaling HKD 31.3 billion, net of liabilities of HKD 4.2 billion[41]. - The total revenue from non-gaming activities for 2024 is HKD 6.4 billion, up 19% year-on-year[69]. - The group’s gaming win rate remains stable at 2.9% for 2024, with a total turnover of HKD 180.9 billion[69]. - The company achieved a total dividend payout of HKD 1.00 per share for the fiscal year ending December 31, 2024, combining the interim and proposed final dividends[177]. Development and Expansion - The third phase of Galaxy Macau™ officially opened in December 2023, adding around 1,100 hotel rooms and a convention space of 40,000 square meters[21]. - The Galaxy Macau™ has expanded significantly with the opening of its third phase in 2023, covering a total area of 1.4 million square meters[28]. - The upcoming Galaxy Capella is set to open in mid-2025, featuring around 100 luxury sky villas and suites[34]. - The fourth phase of development will expand the resort by an additional 600,000 square meters, increasing total hotel supply to approximately 7,500 rooms and suites[35]. - The company plans to invest over HKD 33 billion in non-gaming projects to enrich Macau's tourism offerings, supporting its vision to become a world tourism and leisure center[89]. - The ongoing Phase 4 project will introduce several high-end hotel brands to Macau, with a capacity of up to 5,000 seats in a theater and various non-gaming facilities, targeted for completion in 2027[91]. Corporate Social Responsibility - The company has invested approximately HKD 13 billion to establish the Galaxy Entertainment Group Foundation, enhancing its corporate social responsibility initiatives[15]. - Galaxy Entertainment has committed HKD 200 million to support various pandemic prevention efforts in mainland China and Macau as of July 2020[18]. - The Galaxy Entertainment Group Foundation was established with a commitment of HKD 1.3 billion to support youth education and development in Macau and mainland China[36]. - The company has received awards for community engagement initiatives, including the "Community Integration Excellence Award" and "ESG Reporting Model Award" for its volunteer activities[184]. Awards and Recognition - Galaxy Macau™ was awarded "Best Integrated Resort" at the IAG Academy IR Awards in September 2024, highlighting its market leadership[22]. - The company received the "Best Integrated Resort in Asia" award from Travel + Leisure Luxury Awards 2024 for "Galaxy Macau"[59]. - "Galaxy Hotel™" ranked fourth in the "Best Hotel" category at the Macau Best Hotel Awards[59]. - "Banyan Tree Spa Macau" was awarded first place in the "Best Hotel Spa" category at the Macau Best Hotel Spa Awards[59]. - "Galaxy Macau" won the "Energy Saving Concept Award" at the Macau Energy Saving Activity 2023[59]. - "Galaxy Hotel™" received the Gold Award at the Macau Environmental Hotel Awards[60]. - "Andaz Macau" was recognized as a "Special Recommendation for Newly Opened Hotels" in the 2023 China Top 100 Hotels[60]. - "Galaxy Macau" was awarded the "Most Favorite Integrated Resort" at the Travel Awards 2024[60]. Governance and Management - The board of directors is composed of three executive directors, one non-executive director, and four independent non-executive directors, ensuring a balanced and effective governance structure[123]. - The company adheres to a high standard of corporate governance, focusing on effective risk management and internal controls to protect shareholder rights[117]. - The company has established an audit committee since 1999, consisting of four members, mostly independent non-executive directors, to oversee financial reporting and risk management systems[136]. - The company has implemented a structured delegation of authority to various committees to streamline responsibilities and enhance governance[134]. - The company is committed to hiring and retaining top management and employees to strengthen its gaming and hotel executive team[113]. - The company emphasizes the importance of independent judgment and sufficient commitment from non-executive directors in the selection process[145]. Visitor and Event Management - The company hosted approximately 460 performances and events in 2024, including major events like the UFC Fight Night and the International Table Tennis Federation World Cup[51]. - The Galaxy International Convention Center and Galaxy Arena are positioned to capture the growing trend of entertainment events, with an estimated ticket sales revenue of MOP 1.1 billion from 240 concerts in 2023[51]. - International visitor numbers to Macau are expected to increase by 66% year-on-year to 2.4 million in 2024[51]. - The central government has expanded the list of cities eligible for the Individual Visit Scheme to 59, covering a population of about 500 million[52]. Operational Efficiency - The introduction of electronic gaming tables across all casinos is anticipated to enhance operational efficiency and customer management[53]. - The company is evaluating a series of upgrades at the StarWorld Hotel, including enhancements to the gaming floor and dining options[53]. - The company aims to enhance operational efficiency in the gaming and entertainment business through continuous development of management talent[116]. - The internal audit department conducts regular independent evaluations of the risk management and internal control systems to provide assurance to the board[160].

Investment Rating - The investment rating for Galaxy Entertainment is "Buy" (maintained) [1] Core Views - The company's performance exceeded expectations, and there is optimism for continued growth in 2025, particularly in EBITDA profit margins [5] - The recovery in gaming revenue is attributed to non-gaming activities such as concerts, which have attracted high-net-worth clients [5] - The company is exploring upgrades for its hotel offerings to enhance revenue generation [5] Financial Projections - Total revenue is projected to grow from HKD 35,684 million in 2023 to HKD 53,525.8 million by 2026, reflecting a compound annual growth rate (CAGR) of approximately 6.3% [1][6] - Adjusted property EBITDA is expected to increase from HKD 9,955 million in 2023 to HKD 16,663.4 million in 2026, with a significant year-on-year growth of 34.5% in 2024 [1][6] - The earnings per share (EPS) is forecasted to rise from HKD 1.56 in 2023 to HKD 3.24 in 2026 [1][6] Market Position - The company achieved a total gaming revenue of HKD 110.3 billion in Q4 2024, recovering to 76.3% of the levels seen in Q4 2019 [5] - The market share for the company's mass gaming segment increased to 22.5%, while the overall gaming market share rose to 19.8% [5] - The company is expected to maintain stable operating costs, which will support profit margin recovery to pre-pandemic levels [5]

Investment Rating - The report maintains a "Buy" rating for Galaxy Entertainment [1] Core Views - The company's performance exceeded expectations, and there is optimism for continued EBITDA margin improvement in 2025 [5] - The recovery in gaming revenue is attributed to non-gaming activities, such as concerts, which have attracted high-net-worth clients [5] - The company is exploring upgrades for its hotel offerings to enhance revenue generation [5] Financial Projections - Total revenue is projected to grow from HKD 35,684 million in 2023 to HKD 53,525.8 million by 2026, reflecting a compound annual growth rate (CAGR) of approximately 6.3% [1][6] - Adjusted property EBITDA is expected to increase from HKD 9,955 million in 2023 to HKD 16,663.4 million in 2026, with a significant growth rate of 20.6% in 2025 [1][6] - The earnings per share (EPS) is forecasted to rise from HKD 1.56 in 2023 to HKD 3.24 in 2026 [1][6] Market Position - The company achieved a total gaming revenue of HKD 110.3 billion in Q4 2024, recovering to 76.3% of the Q4 2019 level [5] - The market share for the company's mass gaming segment increased to 22.5%, while total gaming revenue market share rose to 19.8% [5] - The company is expected to maintain stable operating costs, contributing to improved profit margins [5]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 47.25, representing a potential upside of 48.11% from the current stock price of HKD 31.90 [1]. Core Insights - The company's Q4 2024 performance met expectations, with a year-to-date low double-digit growth forecast. The net revenue for Q4 was HKD 11.29 billion, recovering to 87.1% of the 2019 level, with a year-on-year increase of 9.4% and a quarter-on-quarter increase of 5.9% [2][3]. - The introduction of smart gaming tables and the launch of new products, particularly the Capella Hotel and Resort, are expected to enhance market share. The company has a strong balance sheet with net cash of HKD 27.1 billion, the strongest in the industry [2][3]. Financial Summary - Total net revenue is projected to grow from HKD 35.68 billion in 2023 to HKD 55.18 billion by 2027, reflecting a compound annual growth rate (CAGR) of 10.3% [2][3]. - EBITDA is expected to increase from HKD 9.96 billion in 2023 to HKD 16.89 billion in 2027, with an EBITDA margin improving from 27.9% to 30.6% over the same period [2][3]. - Net profit is forecasted to rise from HKD 6.83 billion in 2023 to HKD 12.62 billion in 2027, with a net profit margin increasing from 19.1% to 22.9% [2][3]. Operational Highlights - The company reported a strong performance in its flagship properties, with net revenues for Galaxy Macau and StarWorld Hotel increasing by 12% and 3% year-on-year, respectively [2]. - The occupancy rates for Galaxy Macau and StarWorld Hotel were reported at 98% and 100%, respectively, indicating robust demand [2]. - The company is advancing its development projects, including the introduction of the Capella Hotel and Resort in mid-2025 and the ongoing construction of the fourth phase of Galaxy Macau, expected to be completed by 2027 [2][3].

免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | | 股票發行人現金股息公告 | | 發行人名稱 | 銀河娛樂集團有限公司 | | 股份代號 | 00027 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二四年十二月三十一日止年度之末期股息 | | 公告日期 | 2025年2月27日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 | 財政年末及報告期末更新為2024年12月31日 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月31日 | | 宣派股息 | 每 股 0.5 HKD | | 股東批准日期 | 2025年5月8日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發 ...

EF001 免責聲明 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公佈日期，董事會成員包括執行董事為呂耀東先生(主席)、徐應強先生及鄧呂慧瑜女士；非執行董事為張惠彬博士；以及獨立 非執行董事為顏志宏先生、葉樹林博士、黃龍德教授及萬卓祺先生。 第 2 頁 共 2 頁 v 1.1.1 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 銀河娛樂集團有限公司 | | 股份代號 | 00027 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二四年十二月三十一日止年度之末期股息 | | | 公告日期 | 2025年2月27日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 ...