Financial Performance - Revenue for the six months ended June 30, 2019, was HK$1,005,980,000, a decrease of 57.4% compared to HK$2,355,685,000 in the same period of 2018[25] - Gross profit for the same period was HK$470,483,000, down 54.3% from HK$1,027,895,000 year-on-year[25] - Profit for the period attributable to owners of the Company was HK$853,472,000, a slight increase of 1.3% from HK$836,929,000 in 2018[28] - Basic earnings per share for the period was 56.64 HK cents, compared to 55.54 HK cents in the previous year, reflecting a growth of 1.98%[28] - The Company reported a profit before tax of HK$1,000,913,000, down 23.4% from HK$1,306,616,000 in the same period of 2018[25] - Total comprehensive income for the period reached HK$627,827,000, compared to HK$545,741,000 in the previous year, reflecting an increase of 15%[30] - Profit for the period increased to HK$865,402,000, up from HK$852,023,000, representing a growth of 1.6% year-on-year[30] Investment and Assets - The net increase in fair value of investment properties was HK$131,686,000, compared to HK$107,261,000 in the previous year, representing a growth of 22.8%[25] - Non-current assets totaled HK$27,777,987,000, up from HK$26,838,438,000, indicating a growth of 3.5%[32] - Investment properties amounted to HK$13,712,491,000, a slight increase from HK$13,622,280,000, reflecting a growth of 0.7%[32] - Properties for development decreased to HK$3,661,123,000 from HK$3,818,333,000, indicating a decline of 4.1%[32] Liabilities and Equity - Current liabilities decreased to HK$7,637,433,000 from HK$7,560,710,000, showing a slight increase of 1%[34] - Equity attributable to owners of the Company rose to HK$24,199,848,000, compared to HK$23,883,078,000, marking an increase of 1.3%[37] - Total equity reached HK$25,548,416,000, up from HK$25,253,011,000, reflecting an increase of 1.2%[38] - Interest-bearing borrowings increased to HK$1,637,847,000 from HK$1,328,035,000, representing a rise of 23.3%[34] Cash Flow and Dividends - For the six months ended June 30, 2019, the net cash used in operating activities was HK$139,933,000, compared to HK$85,050,000 in the same period of 2018[63] - The company recognized dividends distributed to non-controlling interests totaling HK$301,354,000 during the period[65] - The interim dividend declared for the period was HK$301,354,000, maintaining the same level as the previous year at HK$0.20 per share[120] Segment Performance - The Group's operations are primarily focused on three main segments: property development, property investment, and other operations, mainly property management[99] - Revenue from completed property sales decreased to HK$679,868,000 in 2019 from HK$2,013,354,000 in 2018, representing a decline of approximately 66.3%[97] - Rental income for the period was HK$251,037,000, compared to HK$255,210,000 in 2018, showing a decrease of about 1.6%[97] Accounting Policies and Standards - The Group's financial statements for the six months ended June 30, 2019, are prepared in accordance with HKAS 34 and applicable disclosure requirements[14] - The Group has applied HKFRS 16 for the first time, which supersedes HKAS 17 "Leases" and related interpretations[71] - The application of new and amendments to HKFRSs has had no material impact on the Group's financial positions and performance for the current and prior periods[72] Legal and Contingent Liabilities - Possible contingent liabilities from legal actions against the Group are estimated at approximately HK$46.5 million, which the Group believes will not materially affect its financial position[188] - A legal claim of approximately HK$13,168,000 was initiated against a joint venture due to the failure to issue ownership certificates, with the judgment favoring the joint venture[141] Management and Personnel - The Group employed 1,416 staff as of June 30, 2019, a slight decrease from 1,429 employees at the end of 2018[188] - Key management personnel compensation totaled HK$53,006,000, with a breakdown of salaries and other short-term benefits, post-employment costs, and consultancy fees included[165]

Financial Performance - The Group's revenue for the year ended December 31, 2018, was HK$3,291.7 million, an increase of 196% compared to HK$1,112.9 million in 2017[7]. - Profit attributable to owners of the Company amounted to HK$1,251.2 million, a decrease of 39% from HK$2,054.1 million in 2017, primarily due to the absence of a subsidiary disposal that occurred in the previous year[7]. - Earnings per share for 2018 were HK$0.83, down from HK$1.36 in 2017[7]. - The net asset value per share attributable to owners of the Company was HK$15.85 at the end of 2018, compared to HK$15.55 at the end of 2017[7]. - The Group's profit attributable to shareholders for the year ended December 31, 2018, was HK$112.7 million, down from HK$169.2 million in 2017[13]. Dividends - The Board declared an interim dividend of HK$0.20 per share for the year ended December 31, 2018, in lieu of a final dividend[7]. - The Company will suspend share transfer registration on April 1 and April 2, 2019, to determine eligibility for the interim dividend[8]. Property Development - Total attributable registered sales for 2018 amounted to 218,200 m², an increase of 7% from 203,300 m² in 2017[13]. - Completed gross floor area (GFA) for 2018 was approximately 371,100 m², representing a 30% increase from 284,700 m² in 2017[13]. - Total attributable GFA under construction at year-end 2018 was approximately 1,036,100 m², a 15% increase from 902,700 m² in 2017[13]. - Revenue from property development increased from HK$495.6 million in 2017 to HK$2,627.2 million in 2018, marking a significant growth[33]. - The Group plans to adjust landbank quality through acquisitions and disposals to balance short-term returns and long-term capital appreciation[14]. Rental Income - Rental income increased by 9% compared to 2017, driven by contributions from various properties including Beijing Park Apartments and Nanjing Tian An Cyber Park[13]. - Rental income rose from HK$463.2 million to HK$502.8 million, representing an increase of approximately 8.5%[34]. Financial Position - As of December 31, 2018, the total bank balances and cash reserves of the Group were approximately HK$2,846.0 million, a decrease from HK$4,969.0 million in 2017[49]. - The total borrowings of the Group amounted to approximately HK$5,681.0 million, up from HK$4,399.4 million in 2017, with a gearing ratio of 11% compared to a negative 2% in 2017[49][50]. - Approximately 55% of the Group's outstanding borrowings will mature within 2 years, with around 91% of borrowings bearing fixed interest rates[50]. - The Group has pledged bank deposits of approximately HK$552.7 million and properties valued at approximately HK$4,048.3 million for banking facilities[53]. Corporate Governance - The Board comprises eleven directors, including five Executive Directors, two Non-Executive Directors, and four Independent Non-Executive Directors[108]. - The Company has complied with the Corporate Governance Code during the year ended December 31, 2018, with certain specified deviations[105]. - The Board has established various committees, including a Nomination Committee, Remuneration Committee, Audit Committee, and Executive Committee[138]. - The Company emphasizes transparency, accountability, and independence in its corporate governance practices[105]. Risk Management - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss[170]. - The internal audit function reports to the Chairman of the Board and the Audit Committee, analyzing the adequacy of the risk management and internal control systems[172]. - The Board reviews the effectiveness of the Group's risk management and internal control systems annually, covering financial, operational, and compliance controls[169]. Sustainability - The Company has adopted a Sustainability Policy covering principles in employment, business integrity, environment, and community, contributing to sustainable development[191]. - The Group focuses on minimizing air and greenhouse gas emissions, water and land discharges, and waste generation[197]. - The Group is committed to promoting environmentally sustainable business practices among staff, customers, and partners[197].