Project Development - West Side Place project in Melbourne has a total development value of approximately HKD 10,500,000,000, offering around 3,000 units with a total saleable floor area of about 2,200,000 square feet[1] - Perth Hub, part of the Perth City Link project, is expected to have a total development value of approximately HKD 848,000,000, providing 314 residential units and around 260 hotel rooms, with all residential units pre-sold by September 30, 2024[3] - The Queen's Wharf Residences project includes 866 residential units with a total saleable floor area of approximately 707,000 square feet and a development value of about HKD 4,900,000,000, with pre-sales valued at approximately HKD 4,700,000,000 as of September 30, 2024[4] - The Hornsey Town Hall redevelopment project will provide 135 residential units and 11 affordable units, with a total saleable floor area of about 114,000 square feet and an expected development value of approximately HKD 122,000,000[7] - The Red Bank Riverside project is expected to deliver 1,551 homes with a total development value of approximately HKD 6,300,000,000, with construction already underway and phased completion expected between FY2028 and FY2030[12] - The MeadowSide project in Manchester is set to include approximately 756 units with a total saleable floor area of about 564,000 square feet, contributing to the company's long-term property portfolio in the UK[13] - Crown View (Block A) includes 275 residential units with a total saleable floor area of approximately 223,000 square feet and an expected development value of about HKD 1,046,000,000, with pre-sales totaling approximately HKD 1,020,000,000 as of September 30, 2024[10] - City View (Block B) consists of 128 affordable housing units sold for approximately GBP 26,000,000, while Park View (Block C) includes 193 residential units with a total development value of about HKD 600,000,000[10] - The expected total development value of active residential property development projects as of September 30, 2024, is approximately HKD 65,900 million[187] - The total expected saleable floor area for the development projects includes 640 Bourke Street in Melbourne with 556,000 square feet and a development value of HKD 4,312 million, expected to complete in FY2025 and FY2029[188] Financial Performance - The group's property development revenue recorded approximately HKD 3,500,000,000, a decrease of 25.8% compared to the first half of the fiscal year 2024[54] - New pre-sales amounted to approximately HKD 3,800,000,000 in the first half of the fiscal year 2025, with significant projects including Red Bank Riverside – Falcon and Kingfisher[55] - The group reported a net loss attributable to shareholders of approximately HKD 770,000,000 for the first half of the fiscal year 2025[75] - Financing costs for the first half of the fiscal year 2025 were approximately HKD 497,000,000[77] - For the first half of the fiscal year 2025, the group's consolidated revenue was approximately HKD 5,200,000,000, a decrease of 18.7% compared to the first half of fiscal year 2024[82] - Adjusted gross profit for the first half of fiscal year 2025 was approximately HKD 1,600,000,000, down from HKD 2,200,000,000 in the same period last year[82] - The hotel business and management revenue for the first half of fiscal year 2025 reached approximately HKD 977,000,000, a slight increase of 1.1% year-on-year[84] - The adjusted gross profit margin for the hotel business decreased from 48.8% in the first half of fiscal year 2024 to 43.5% in the first half of fiscal year 2025 due to rising operating costs[84] - The group recorded an adjusted cash profit of approximately HKD 139,000,000 for the first half of fiscal year 2025 despite several impairment losses[93] - The group reported a total capital commitment of approximately HKD 1,205 million, mainly due to hotel development projects in Australia and the UK[156] Strategic Initiatives - The company continues to explore opportunities to increase building area and enhance development value in response to changing location dynamics[14] - The strategic redevelopment framework for Victoria North has been approved, providing a roadmap for future development projects in the area[8] - The company is expanding its property development and hotel business in key markets including Australia and New Zealand[24] - The company is focused on enhancing its operational efficiency and market reach through strategic partnerships and acquisitions[34] - The group plans to accelerate the completion of landmark projects with an expected total development value of approximately HKD 8,500,000,000, which will enhance cash flow for debt reduction[114] - The group is actively considering the sale of non-core assets, including long-term rental apartments in Shanghai, with plans to sell undeveloped land and develop approximately 1,700 units[114] - The company is in the planning stage for the Perth City Link project, which will include multiple boutique residential units and a mixed-use building with retail, entertainment, commercial, and hotel facilities[173] - The company has established a development agreement for the QWB project with The Star and Chow Tai Fook Group, indicating strategic partnerships for future growth[200] Market Presence - The company has established a strong presence in major cities such as Sydney, Melbourne, and Hong Kong[40] - The group has a diversified residential property development portfolio across Australia, the UK, Hong Kong, Singapore, Malaysia, and mainland China, focusing on the mass residential market[184] - The company holds a 10% interest in the Cuscaden Reserve project in Singapore, which is part of its ongoing development portfolio[161] - The group has established strong local teams in various markets to identify trends and opportunities for property development, enhancing its regional diversification strategy[184] Debt and Liquidity Management - As of September 30, 2024, the adjusted net debt-to-equity ratio was maintained at 68.8%, and the net debt to adjusted total assets ratio was at a solid level of 35.2%[101] - The group received 98.4% approval to partially redeem $360,000,000 of perpetual capital notes, aiming for partial redemption to begin in Q1 2025 while maintaining sustainable debt levels[102] - The adjusted net debt-to-equity ratio remained stable at 68.8% as of September 30, 2024, compared to 68.1% on March 31, 2024[109] - The company's liquidity position as of September 30, 2024, was approximately HKD 4,472,000,000[141] - The company's unutilized bank financing stood at approximately HKD 4,300 million, with HKD 1,400 million allocated for development/construction facilities and HKD 2,900 million for general corporate purposes[145] - The average interest rate on bank loans decreased from 6.74% in the first half of FY2024 to 6.39% in the first half of FY2025[118] Sustainability and Corporate Governance - The company is committed to sustainable practices and has set up an ESG guidance committee to oversee its initiatives[34] - The company continues to maintain a strategy of not hedging interest rates on its outstanding debt, aiming to keep the debt ratio stable and interest expenses manageable[146] - The impact of foreign currency fluctuations on the group's profit attributable to shareholders for the first half of fiscal year 2025 was a total loss of HKD 7 million[149]

Financial Performance - For the six months ending September 30, 2024, the group recorded an adjusted cash profit of approximately HKD 139,000,000 despite some impairment losses and non-cash factors [2]. - Revenue decreased by 18.7% to approximately HKD 5,200,000,000 compared to the same period last year, primarily due to a reduction in residential property development projects [2]. - The group reported a net loss attributable to shareholders of approximately HKD 770 million for the first half of fiscal year 2025, primarily due to reduced revenue and various one-time and non-operating expenses [9]. - The gross profit for the same period was HKD 1,433,675,000, down from HKD 1,974,724,000, indicating a decrease of about 27.5% [19]. - The basic and diluted loss per share for the period was HKD 27.3, compared to earnings of HKD 8.6 per share in the prior year [19]. - The company reported a significant increase in receivables from joint ventures, rising to HKD 2,184,933 from HKD 2,029,315, an increase of about 7.7% [23]. - The company reported a loss attributable to shareholders of HKD 769,907,000 for the six months ended September 30, 2024, compared to a profit of HKD 232,238,000 for the same period in 2023 [68]. Revenue Breakdown - Property development revenue was approximately HKD 3,500,000,000, a decrease of 25.8% compared to the same period last year [5]. - New pre-sales amounted to approximately HKD 3,800,000,000 during the first half of the fiscal year 2025, indicating continued sales capability in a challenging business environment [5]. - Revenue from parking and facility management was approximately HKD 380 million, representing a 6.7% increase compared to the first half of the fiscal year 2024 [7]. - The group's gaming business under Palasino reported a slight increase of 0.9% in revenue to approximately HKD 196 million for the first half of fiscal year 2025, driven by an increase in the number of slot machines and player visits [7]. - Revenue from hotel operations and management reached approximately HKD 977,000,000, a slight increase of 1.1% year-on-year [94]. Asset Management and Liabilities - The group's adjusted net assets increased by 0.4% to approximately HKD 33.67 billion as of September 30, 2024, due to favorable foreign exchange effects from overseas operations [9]. - The adjusted net asset liability ratio remained stable at 68.8% as of September 30, 2024, indicating prudent capital management [9]. - The company's total liabilities decreased to HKD 16,155,459 from HKD 16,238,223, indicating a reduction of about 0.5% [25]. - The company reported a total interest cost of HKD 496,598,000 after capitalizing amounts, compared to HKD 514,568,000 in the previous year, indicating a decrease of 3.4% [58]. - The company maintained unutilized bank financing of about HKD 4,300 million, with HKD 1,400 million allocated for development/construction and HKD 2,900 million for general corporate purposes [117]. Project Development and Future Plans - The group is accelerating project completions, with significant projects expected to be completed in the second half of fiscal year 2025 [5]. - The group anticipates substantial revenue and cash flow from the completion of the Queen's Wharf Brisbane project in fiscal year 2026 [5]. - The expected total development value of active residential property projects across different regions is approximately HKD 65,900,000,000 as of September 30, 2024 [141]. - Upcoming development projects include Manchester's Red Bank Riverside and Melbourne's 640 Bourke Street, with an expected total development value of approximately HKD 8,100 million [111]. - The group plans to divest non-core assets and businesses to repay bank loans and invest in higher-return projects, considering the sale of a long-term apartment development project in Baoshan, Shanghai, within two years [7]. Dividend and Shareholder Returns - The interim dividend declared is HKD 0.01 per share, down from HKD 0.04 per share in the previous period [15]. - The interim dividend will be paid on January 2, 2025, to shareholders listed on the register as of December 30, 2024 [17]. - The company has approved a mid-term dividend of HKD 0.01 per share, amounting to approximately HKD 30,349,000, down from HKD 108,236,000 in the previous year [71]. Market and Operational Insights - The group established a partnership in March 2024 to acquire a hotel in Singapore, rebranding it as the Singapore Changi Hotel, which offers 313 rooms and is located 10 minutes from Changi Airport [7]. - The Hong Kong Kai Tak Hotel commenced trial operations on September 26, 2024, with 373 rooms, enhancing the group's market coverage [5]. - The company continues to adopt a proactive strategy in managing its investments and ensuring stable debt ratios and interest expenses [118]. - The group has not identified any single customer contributing over 10% to total revenue, indicating a diversified customer base [47].

能够支持我们未来的一个长期稳定的分红还有一个情况就是目前刚才的这个价格有所下降然后是否我们整个投资这个金额是否不会像想象中那么大 确实应该是有影响的因为刚说到这个鱼蝎线的项目它是我们的一个主干线的管网管径是达到了一千毫米就是一米的管道它的主要材料也是钢管我了解的所以如果说未来这个钢的材料的这个销售价格下降对我们的一个研究成本的控制其实是有一个是一个有利的因素吧 这个我们披露的这个投资规模其实是两三年前的一个科研报告的一个是去年 去年的这个科技研究报告给出的一个投资规模如果说是未来实际情况 刚才的价格会下降对我们未来的这个实际支出结算的工程的结算金额可能会有一个有益的影响好的 魏秘书请再播报一下看看有没有任何提问大家好如需提问电话端的参会者请先按话机上的信号键再按数字1 网络端的参会者您可以在直播间互动区域内文字提问或点击旁边的举手按钮申请语音提问谢谢大家好如需提问电话端的参会者请向话机上的信号键再按数字1网络端的参会者您可以在直播间互动区域内文字提问或点击旁边的举手按钮申请语音提问谢谢 宋总我再请教一下就是咱们未来比如说在三费上的这样一个预期会是怎么样的就是管理费用 财务费用和三费上的一个是不是我们随着业务规 ...

非常好的能够支持我们未来的一个长期稳定的分红好的就是还有一个情况就是目前刚才的这个价格有所下降嘛然后是否我们整个投资这个金额是否不会像想象中那么大 缸材料确实应该是有影响的因为刚说到这个鱼蝎线的项目它是我们的一个主干线的管网管径是达到了一千毫米就是一米的管道它的主要材料也是缸管我了解的所以如果说未来这个缸的材料的这个销售价格下降对我们的一个研究成本的控制其实是有一个是一个有利的因素吧 这个我们披露的这个投资规模其实是两三年前的一个科研报告的一个是去年的这个科技研究报告给出的一个投资规模如果说是未来实际情况 刚才的价格会下降对我们未来的这个实际支出结算的工程的结算金额可能会有一个有益的影响好的 魏秘书请再多报一下看看有没有其他提问大家好如需提问电话端的参会者请先按话机上的信号键再按数字一 网络端的参会者您可以在直播间互动区域内文字提问或点击旁边的举手按钮申请语音提问谢谢大家好如需提问电话端的参会者请先按话机上的信号键再按数字1网络端的参会者您可以在直播间互动区域内文字提问或点击旁边的举手按钮申请语音提问谢谢 宋总我再请教一下就是咱们未来比如说这个在三费上的这样一个预期会是怎么样的就是这个管理费用财务费用和这个对 ...

它的利率上升基本上是1.2%了它的近期差比起2023年都稍微有所下降 我们也会继续保持我们现有的一些计划除了在BC Invest这方面治理发展业务之外也会在降低负债以及利息成本方面继续采取一些的缩失2023年5月已经偿还的债务是10亿 那这个是其中的一个我们偿还的债券今年月份的时候我们也偿还了另外一个债券大概是28亿港元我们在企德发展项目当中的办公室部分呢三月份也完成了出售 那这个里面是它的总额是达到33.8亿那因为我们是从政府手中购买这块地然后把它建成了办公室然后出售了那么今年三月底完成了这个交易从而的话呢我们这样的话呢有手头有了现金可以用这现金来减少债务所以因为这个现金所以就减少了很多的债务 那么同时呢我们在墨尔本还有这个Westside Place这三座第四座确认的收入大约是有35亿港元这一笔收入的话也能够帮助我们去减少杠杆偿还债务那在这个也是 就是这也是在我们的去年上一个财政年度完成的在澳大利亚呢我们已经偿还了很多的债务了因为我们在澳洲会有很多的一些资产那还有一些非核心资产我们也会继续出售从今年开始啊那我们已经卖出了这个这个是在黄金海岸的一个项目我们还有一个停车场的资产也出售了是在新西兰的那现在是在K ...

Financial Performance - For the fiscal year ending March 31, 2024, the group achieved revenue of approximately HKD 10,200,000,000, an increase of 57.5% compared to the fiscal year ending March 31, 2023[3]. - The group recorded a revenue increase of 57.5% to approximately HKD 10,200,000,000 compared to the fiscal year 2023[9]. - The group recorded revenue of HKD 10,203,679,000 for the year ended March 31, 2024, compared to HKD 6,478,958,000 for the previous year, representing a significant increase[14]. - The group's profit for the year was HKD 450,701,000, an increase from HKD 380,212,000 in the previous year[15]. - Basic earnings per share increased to HKD 8.2 from HKD 6.4 year-on-year[14]. - Adjusted cash profit increased by 35.5% to approximately HKD 780,000,000 for fiscal year 2024[9]. - Adjusted gross profit (non-GAAP financial measure) rose by 61.4% to approximately HKD 3,200,000,000, up from HKD 2,000,000,000 in fiscal year 2023[55]. - The company's net asset value decreased to HKD 14,871,344 thousand in 2024 from HKD 15,648,212 thousand in 2023, a decline of about 4.9%[18]. - The adjusted net asset value per share decreased by 7.7% from HKD 11.53 on March 31, 2023, to HKD 10.77 on March 31, 2024[11]. Revenue Segmentation - The property development segment contributed approximately HKD 6,834,000,000 in revenue, representing a 91.6% increase from HKD 3,566,000,000 in the previous fiscal year[3]. - The hotel business revenue grew by 31.2% year-on-year to approximately HKD 2,031,000,000, driven by increased demand following the easing of travel restrictions[5]. - The group's gaming business revenue for fiscal year 2024 was approximately HKD 402,000,000, reflecting a year-on-year increase of 3.1%[8]. - The group's parking business revenue was approximately HKD 732,000,000, a slight decrease of 3.0% due to unfavorable foreign exchange movements[7]. - Property development revenue for Australia increased significantly to HKD 4,115,080, up from HKD 510,178 in the previous year, representing a growth of over 705%[23]. - The hotel business generated revenue of HKD 2,031,147, up from HKD 1,547,965, reflecting a growth of about 31%[23]. Asset Management and Liabilities - The group's adjusted net asset liability ratio was 68.1% as of March 31, 2024, indicating a focus on managing capital structure[10]. - As of March 31, 2024, the group's net debt decreased by HKD 2,900,000,000 to approximately HKD 22,800,000,000, compared to HKD 25,700,000,000 as of March 31, 2023[11]. - The group's current assets as of March 31, 2024, amounted to approximately HKD 4,900,000,000, providing adequate cash and securities levels[11]. - The company's total assets decreased to HKD 47,261,297 in 2024 from HKD 53,422,780 in 2023, a reduction of approximately 11.5%[34]. - The company's equity attributable to shareholders decreased to HKD 11,679,965 thousand in 2024 from HKD 12,355,165 thousand in 2023, a decline of about 5.5%[18]. Capital Expenditure and Investments - The group's capital expenditure for the fiscal year 2024 is approximately HKD 1,413,000,000, primarily for hotel acquisitions and developments in Hong Kong and the UK[80]. - The group has secured a partnership for a development project in Greater Manchester, with an estimated cost of GBP 300,000,000[83]. - The company plans to sell a parking lot in the UK for approximately GBP 17,240,000 (approximately HKD 169,000,000), expecting to record revenue of about GBP 220,000 (approximately HKD 2,152,000) in the first half of the 2025 fiscal year[12]. - The company has multiple development projects upcoming, including the Park Lane in Hong Kong and 640 Bourke Street in Melbourne, with a total expected development value of approximately HKD 10,400,000,000[68]. Market Expansion and Future Projects - The company is focusing on market expansion with multiple projects in the UK, Australia, and Southeast Asia, indicating a strategic growth approach[89]. - The company plans to launch several projects in FY2025, including developments in Hong Kong and Melbourne, Australia, to expand its project portfolio[135]. - The company has ongoing projects in various locations, including 4,087 square feet in Melbourne and 526 million in Singapore, with completion expected in fiscal year 2025[88]. - The company plans to open a flagship hotel in Hong Kong with 373 rooms in the second half of fiscal year 2024, enhancing its competitive advantage in the local market[118]. Operational Efficiency and Strategy - The group aims to enhance its operational efficiency and reduce leverage while maintaining high-quality customer service[7]. - The company is currently evaluating the financial impact of the land sale transaction[51]. - The company is focused on improving operational efficiency and implementing cost-saving measures to stabilize parking revenue growth[127]. - The company plans to optimize funding costs by converting certain bank borrowings into RMB to reduce financing expenses[71]. Corporate Governance and Compliance - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and financial reporting for the fiscal year ending March 31, 2024[148]. - Deloitte has acknowledged the consolidated financial statements for the fiscal year ending March 31, 2024, as approved by the board on June 27, 2024[149]. - The company has adhered to corporate governance codes, with the current structure believed to provide strong and consistent leadership[147].

Financial Performance - The company reported a revenue increase of 108% to approximately HKD 6,300,000,000 for the first half of the fiscal year 2024 compared to the same period in fiscal year 2023[18]. - The company's net profit attributable to shareholders for the first half of fiscal year 2024 was HKD 232,000,000, a decrease of 59.3% compared to HKD 571,000,000 in the same period last year[44]. - Adjusted cash profit for the first half of fiscal year 2024 was approximately HKD 507,000,000, down 43.5% from HKD 897,000,000 in the previous year[44]. - The adjusted cash profit margin (non-GAAP) decreased to 8.0% in the first half of fiscal year 2024 from 29.6% in the same period of fiscal year 2023[138]. - The company reported a profit before tax of HKD 537 million, down from HKD 860 million year-on-year, reflecting a decrease of 37.5%[163]. - The total comprehensive income for the period was HKD (1,100,484,000), reflecting a significant decline from the previous total of HKD 2,338,553,000[169]. - The company reported a significant foreign exchange loss of HKD 1,033,433 for the period, compared to a loss of HKD 2,705,156 in the previous year[164]. Property Development - Property development revenue surged by 217.1% to approximately HKD 4,700,000,000, driven by strong settlements and deliveries in Melbourne West Side Place[19]. - The cumulative pre-sold value and contracted sales of properties under development amounted to approximately HKD 14,100,000,000 as of September 30, 2023[20]. - The company anticipates launching a residential project in Kai Tak, Hong Kong, with a total development value of approximately HKD 6,600,000,000 in fiscal year 2025[20]. - The company has several projects expected to complete in the fiscal year 2025, including Queen's Wharf Residences (Fourth Tower) in Brisbane with an attributable pre-sale value of HKD 1,476 million[68]. - The company has ongoing developments in various locations, including Perth Hub with an attributable pre-sale value of HKD 533 million, and Aspen at Consort Place in London with HKD 1,555 million[68]. Hotel Operations - The group's hotel business revenue increased by 3.4% to approximately HKD 942,000,000, driven by the opening of two new hotels and improved demand in mainland China and Hong Kong[21]. - The total hotel operating and management revenue for the group in the first half of fiscal year 2024 was approximately HKD 882 million, stable compared to HKD 854 million in the same period of fiscal year 2023[110]. - Overall occupancy rate increased by 12.6 percentage points to approximately 73.6%, while average room rate decreased by 23% to approximately HKD 747, resulting in a 7% decline in average revenue per room to approximately HKD 550[110]. - In mainland China, hotel performance improved significantly, with occupancy rate rising to 69.7% and average room rate increasing by 52.2% to RMB 376, leading to a 118.3% increase in average revenue per room to RMB 262[114]. Financing and Debt Management - The company successfully issued AUD 507 million RMBS bonds priced in Australian dollars under the Coventry Bond Trust 2023-1[8]. - The company raised HKD 300 million through a sustainable performance-linked loan financing for a three-year term[8]. - The company has secured additional financing of approximately HKD 1.08 billion for ongoing development projects in Australia, Hong Kong, and the UK[55]. - The average interest rate on bank loans increased from 2.74% in the first half of the 2023 fiscal year to 6.74% in the first half of the 2024 fiscal year, with 85.7% of bank loans having floating rates[54]. - The company plans to actively manage its debt levels and financing costs by selling non-core assets and refinancing in the banking market[130]. Awards and Recognition - The company received three awards at the 2023 Hong Kong Investor Relations Awards[8]. - The company won three awards at the inaugural Hong Kong and International Real Estate Awards 2023[12]. Strategic Initiatives - The company obtained approval from the Stock Exchange to potentially spin off its Czech gaming business and hotel operations in Germany and Austria for independent listing[10]. - The company has partnered with THEi to cultivate medicinal herbs at the donated Chinese medicine research farm "De Gen Sheng Yuan" to educate the community about Chinese medicine practices[10]. - The group plans to enhance its property portfolio by introducing new parking facilities while strategically divesting from mature parking lots[25]. Market Expansion - The group has been selected as the preferred bidder for a development partnership with Greater Manchester Combined Authority and Trafford Metropolitan Borough Council[11]. - The group is actively seeking new parking management contracts in Australia, Hungary, Malaysia, the UK, and New Zealand to expand its business portfolio[38]. - The group is planning new developments in various regions, including the Network Rail project in Red Bank with an expected development value of HKD 5,986 million[71].

Revenue Growth - For the six months ended September 30, 2023, the group's revenue increased by 108% to approximately HKD 6,300,000,000 compared to the six months ended September 30, 2022[2]. - Revenue for the six months was HKD 6,295,000,000, up 108.5% from HKD 3,025,979,000 year-over-year[12]. - The total revenue from property development for the six months ended September 30, 2023, was HKD 4,746,047,000, with a profit of HKD 855,168,000[23]. - The group's hotel business revenue increased by 3.4% to approximately HKD 942 million in the first half of the fiscal year 2023, driven by the opening of two new hotels and improved demand in mainland China[4]. - The gaming business revenue grew by 14.0% year-on-year to approximately HKD 151 million (excluding gaming tax) in the first half of the fiscal year 2024, indicating a recovery from the pandemic[4]. Property Development - The property development segment recorded a revenue increase of 217.1% to approximately HKD 4,700,000,000 due to the completion and delivery of Melbourne West Side Place[3]. - As of September 30, 2023, the cumulative pre-sold value and contracted sales of properties under development amounted to approximately HKD 14,100,000,000[3]. - The group expects significant cash flow and revenue from multiple milestone projects scheduled for completion in fiscal year 2025[3]. - The group plans to launch the Kai Tak residential project in Hong Kong in the fiscal year 2025, with an estimated total development value of approximately HKD 6,600,000,000[3]. - The group has confirmed pre-sales totaling approximately HKD 14,100,000,000, with projects expected to be completed before the fiscal year 2025[62]. Financial Performance - Net profit attributable to shareholders decreased by 59.3% to approximately HKD 232 million, while adjusted cash profit fell by 43.5% to approximately HKD 507 million[5]. - The company's basic earnings per share dropped to HKD 8.6 from HKD 21.4, reflecting the decline in profitability[12]. - The adjusted net asset value per share decreased by 4.5% to HKD 11.14 as of September 30, 2023[6]. - The group reported a total profit before tax for the six months ended September 30, 2023, of HKD 537,422,000, compared to HKD 860,373,000 in the previous year[29]. - Adjusted net profit attributable to shareholders for the six months ended September 30, 2023, was HKD 232,238,000, a decrease from HKD 570,533,000 in the same period of 2022[137]. Asset Management - The total assets as of September 30, 2023, were HKD 29,846,273,000, compared to HKD 28,508,607,000 as of March 31, 2023, showing growth in asset base[15]. - The group maintained an adjusted net asset liability ratio of 73.2% as of September 30, 2023[5]. - The total estimated value of investment properties as of September 30, 2023, is approximately HKD 8.5 billion, up from HKD 8.1 billion as of March 31, 2023[105]. - The adjusted total assets value after accounting for hotel revaluation surplus was HKD 67,931,000,000 as of September 30, 2023, compared to HKD 72,659,000,000 as of March 31, 2023[138]. - The group has unsold residential inventory valued at HKD 7,200,000,000, which can be used as collateral for further bank borrowing[68]. Debt Management - The group continues to execute a strategy of actively divesting non-core assets to reinvest in higher internal rate of return projects[3]. - The group raised HKD 300 million through a sustainable performance-linked loan in July 2023, aimed at promoting green financing initiatives[6]. - The group is actively managing its debt levels and financing costs through asset sales and refinancing strategies[128]. - The net debt ratio was 73.2% as of September 30, 2023, compared to 73.8% as of March 31, 2023[59]. - The group has confirmed pre-sales totaling approximately HKD 14,100,000,000, providing a strong outlook for future revenue[129]. Hotel Operations - The hotel operations and management revenue for the first half of fiscal year 2024 was approximately HKD 882 million, stable compared to HKD 854 million in the same period of fiscal year 2023[110]. - The company opened the Melbourne Ritz Carlton Hotel on March 23, 2023, with 257 rooms, and the Melbourne Dorsett Hotel on April 18, 2023, with 316 rooms[106]. - The occupancy rate in Hong Kong rose by 15.5 percentage points to approximately 86.8%, while average room rent fell by 43% to approximately HKD 702[111]. - The company expects improved hotel performance in the second half of fiscal year 2024 due to various measures to stimulate the tourism industry[110]. - The hotel portfolio consists of 33 hotels with approximately 8,700 rooms across various regions, including China, Hong Kong, Malaysia, Singapore, Australia, the UK, and continental Europe[106]. Gaming Business - The group plans to relaunch its online gaming brand "Palasino" in Malta and has submitted a listing application for Palasino shares on the Hong Kong Stock Exchange[4]. - The gaming business under Palasino Group continues to grow, with plans to separate and independently list the gaming and hotel operations[8]. - Palasino Group's gaming revenue in the Czech Republic increased by approximately 14.0% to about HKD 151,000,000 in the first half of the fiscal year 2024 compared to the same period in fiscal year 2023[120]. - The number of slot machines increased from 492 to 568, while the number of gaming tables decreased from 65 to 62 year-over-year as of September 30, 2023[121]. - The gaming table win rate improved to 22.2% in the first half of fiscal year 2024 from 21.4% in the previous year[121]. Strategic Initiatives - The group is actively seeking new parking management contracts in Australia, Hungary, Malaysia, the UK, and New Zealand to further expand its business portfolio[8]. - The group has established a partnership with Manchester City Council for a development project at the former Manchester Police Headquarters, with an estimated cost of GBP 300 million[77]. - The group is exploring opportunities to convert the Monument project into a rental scheme, with discussions ongoing[85]. - The company plans to continue engaging with investors for future projects in Shanghai and the UK[128]. - The group is committed to an active investment strategy to realize asset value and ensure financial stability[68].

Corporate Social Responsibility - The company donated HKD 1,500,000 and 40,000 square feet of farmland to the Hong Kong Institute of Higher Education for the construction of a Chinese medicine research center[8]. - The company has been involved in various charitable and community contributions, reflecting its commitment to social responsibility[53]. - The company has received multiple awards in Singapore, including the "National Philanthropy Service Gold Award 2022" and "Outstanding Star Award 2022" from the Singapore Hotel Association[183]. Business Expansion and Development - The company successfully launched a new apartment hotel brand, Dao by Dorsett, in West London, UK[8]. - The company completed the acquisition of the large mixed-use development project Vauxhall Square in the UK from R&F Properties, providing a buyback option[8]. - The company successfully acquired development rights for a site in Sai Ying Pun, Hong Kong, from the Urban Renewal Authority[8]. - The company launched a residential project in Manchester, UK, named Collyhurst Village[8]. - The company plans to launch a residential project in Kai Tak, Hong Kong, in the fiscal year 2024, with an expected total development value of approximately HKD 6,600,000,000[29]. - The company is exploring opportunities to spin off and independently list its gaming and hotel business in the capital markets to fully unlock its potential[35]. - The company is focused on maintaining cost control while seeking investment opportunities to drive growth[50]. - The company is expanding its hotel business in various regions, including China, Singapore, and Australia[186]. Financial Performance - The company reported a revenue of HKD 6,346 million for the fiscal year 2023, reflecting a decrease of 1.9% compared to the previous year[12]. - The adjusted cash profit for the fiscal year 2023 was HKD 576 million, with an adjusted cash profit margin of 9.1%[12]. - The company’s cash and investment securities stood at HKD 6,545 million as of March 31, 2023, showing a compound annual growth rate of -1.9%[20]. - The company’s adjusted net asset liability ratio increased to 73.8% in fiscal year 2023, compared to 57.9% in fiscal year 2022[20]. - The company recorded a total revenue of HKD 3,600,000,000 from property development in the fiscal year 2023, with a cumulative pre-sale and unrecognized contracted sales amounting to approximately HKD 18,700,000,000[30]. - The company maintained a profit attributable to shareholders of approximately HKD 172,000,000 for fiscal year 2023[72]. - The net profit attributable to shareholders for fiscal year 2023 was HKD 172,185,000, significantly lower than HKD 1,300,381,000 in fiscal year 2022[161]. Awards and Recognition - The company was awarded "Best CEO in Hong Kong" and "Best Small Company" at the 2022 Asia's Best Companies Awards[8]. - The company received multiple awards, including "Best CEO" and "Best CFO" at the 2022 Asia Excellence Awards, highlighting its strong leadership and investor relations[11]. - The company was recognized with a bronze award in the traditional annual report category at the 2022 ARC Annual Report Awards[8]. - The company has received multiple awards for corporate governance and investor relations, including "Best Investor Relations Company" and "Best Annual Report" at the Hong Kong Investor Relations Association Awards[48]. Real Estate and Property Development - The company completed the West Side Place development project in Melbourne, which includes the Ritz-Carlton Hotel, Dorsett Hotel, over 1,500 residential units, and some commercial space[29]. - The company has a diversified portfolio of residential property development projects across Australia, mainland China, Hong Kong, Singapore, Malaysia, and the UK, focusing on the mass residential market[94]. - The total expected attributable development value for active residential property development projects as of March 31, 2023, is approximately HKD 61,500 million[97]. - The company holds a 50% interest in several key development projects, including the West Side Place and the Towers at Elizabeth Quay[103]. - The company is exploring opportunities to convert certain projects into "build-to-rent" schemes, with discussions ongoing[104]. Hotel Operations - The company opened two new hotel properties in the fiscal year 2023, including Dao by Dorsett West London and the Ritz-Carlton Hotel in Melbourne, adding a total of 331 rooms[32]. - The hotel business revenue increased by 7.4% year-on-year to approximately HKD 1,509,043,000, with an adjusted gross profit margin of 51.6%[71]. - The average occupancy rate in Hong Kong for the fiscal year 2023 was 64.7%, down from 77.1% in the previous year[131]. - The company plans to open a new Dao by Dorsett hotel in Hornsey, UK by the end of 2023, along with additional hotels in Hong Kong and Australia in the coming years[133]. Debt and Financing - The company raised HKD 700,000,000 through a five-year sustainability-linked loan financing in Hong Kong[11]. - The total amount of bank loans, notes, and bonds as of March 31, 2023, is approximately HKD 32,300,000,000, an increase of HKD 1,079,000,000 or 3.5% compared to the previous year[79]. - The net debt ratio increased to 73.8% as of March 31, 2023, compared to 57.9% in the previous year[75]. - The average interest rate on bank loans increased from 2.22% in the fiscal year 2022 to 3.87% in the fiscal year 2023[81]. Future Outlook - The company remains optimistic about the fiscal year 2024, driven by ongoing investment strategies and gradual global economic recovery[50]. - The company anticipates significant cash flow generation from the West Side Place project in the coming year due to strong pre-sale responses[105]. - The company expects to continue strong settlements from West Side Place, which will significantly reduce debt levels and the debt-to-equity ratio[45]. - The company is cautious about ongoing risks such as labor shortages in the global hotel industry, inflation, rising interest rates, and geopolitical uncertainties[132].

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 就 因 本 公 告 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。 FAR EAST CONSORTIUM INTERNATIONAL LIMITED 遠東發展有限公司* （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） 網 址：http://www.fecil.com.hk （股 份 代 號：35） 截至二零二三年三月三十一日止財政年度 業績公告 業 績 Far East Consortium International Limited（「本 公 司」）董事會（「董 事 會」）欣 然 宣 佈，本 公司及其附屬公司（統 稱「本 集 團」）截至二零二三年三月三十一日止財政年度 （「二 零 二 三 年 財 年」）之 經 審 核 綜 合 業 績 如 下： 最新業務資料 • 全球經濟在2019冠狀病毒病疫情後逐步重啟成為過去12個 月 之 主 調。隨 著 市 場 有 序 重 啟，本 集 團 所 有 業 務 均 逐 ...