Financial Performance - For the fiscal year ending March 31, 2020, the company reported revenue of HKD 7,451 million, representing a year-on-year growth of 16.9%[12] - The gross profit for the same period was HKD 2,259 million, with a growth rate of 7.3% compared to the previous year[12] - The net profit attributable to shareholders decreased to HKD 366 million, reflecting a decline of 16.0% year-on-year[12] - Adjusted cash profit for the fiscal year was HKD 842 million, showing a slight decrease of 0.3% from the previous year[12] - The total dividend declared was HKD 19.0 cents per share, which is a 4.4% increase compared to the previous year[12] - The company reported a record annual revenue of HKD 7,500,000,000 for the fiscal year 2020, despite significant global economic challenges[26] - The group recorded revenue of HKD 7,500,000,000 for the fiscal year 2020, an increase of 8.9% compared to HKD 6,800,000,000 in fiscal year 2019[43] - Shareholders' attributable net profit decreased by 78.7% to HKD 366,000,000, primarily due to global economic uncertainty and increased financing costs[43] - The net profit for the fiscal year 2020 was HKD 550,981,000, compared to HKD 1,768,725,000 in the fiscal year 2019[94] - Basic earnings per share for the fiscal year 2020 was 15.5 cents, a decrease from 74 cents in the fiscal year 2019[94] Business Strategy and Outlook - The company is focusing on diversifying its business portfolio to enhance stability and growth potential[2] - Future outlook includes plans for market expansion and potential acquisitions to strengthen its market position[2] - The company is investing in new product development and technology to drive future growth[2] - The management emphasized the importance of maintaining a balanced and diversified business model to mitigate risks[2] - The company aims to improve operational efficiency and enhance shareholder value through strategic initiatives[2] - Future outlook includes strategic initiatives aimed at improving operational efficiency and exploring potential mergers and acquisitions[99] - The company plans to invest in new technologies and product development to drive future growth and competitiveness[99] Impact of COVID-19 - The company reported a significant impact on hotel and parking businesses due to COVID-19 and social unrest, but managed to achieve record revenues in the fiscal year 2020[18] - The hotel business faced severe impacts from the COVID-19 pandemic, but the company took decisive actions to mitigate effects, including cost reductions and strategic property adjustments[29] - The group is actively implementing cost control measures and adjusting marketing strategies to mitigate the impact of the COVID-19 pandemic[190] - The group has received support from various governments, including employee wage subsidies and loan deferrals, which have significantly aided cash flow[192] Property Development and Projects - The company has established a strong property development project portfolio, enhancing future revenue prospects[18] - The Brisbane Queen's Wharf integrated resort project, costing AUD 3.6 billion, is expected to open in late 2023, contributing to the gaming segment's growth[19] - The company acquired land parcels in Melbourne and Manchester to enhance its development portfolio, including a strategic acquisition in Shanghai for long-term rental purposes[27] - The total development value of the regional business exceeded HKD 51,600,000,000, providing a clear revenue contribution outlook for the next 8 to 10 years[43] - The company plans to spin off hotel assets in Australia, Singapore, Malaysia, and the UK to unlock potential value and reinvest capital[128] - The cumulative pre-sale value of residential properties under development is approximately HKD 12,200 million[131] - The company has established strong local teams in various markets to identify trends and opportunities for property development[131] Financial Position and Capital Management - Cash and investment securities reached HKD 6,067 million in 2020, with a compound annual growth rate (CAGR) of 12.8%[14] - Adjusted total assets amounted to HKD 58,128 million in 2020, reflecting a CAGR of 12.0%[14] - Adjusted net asset value attributable to shareholders was HKD 27,467 million in 2020, with a CAGR of 7.1%[14] - The company raised a total of USD 360,000,000 through the issuance of perpetual capital notes to strengthen its balance sheet[40] - The net debt-to-equity ratio was 56.7%, despite adverse impacts on hotel valuations due to the pandemic[54] - The group issued $360,000,000 of perpetual capital notes with an initial distribution rate of 7.375% to maintain a strong financial position and liquidity[111] Management and Leadership - Dan Sri Dato' Chiu Tak Cheong has over 30 years of experience in real estate and hotel development, serving as the CEO since 1994 and Chairman since 2011[69] - Mr. Kong Xiangda, appointed as Executive Director in 2012, has extensive experience in corporate development and mergers, previously serving as CEO of Huachai Holdings[70] - The management team includes members with significant international experience, enhancing the company's ability to navigate global markets[70][73] - The company has a strategic focus on growth through acquisitions and expansion in key markets, leveraging the extensive experience of its management team[69][70][72] Hotel and Parking Business Performance - The hotel business revenue decreased by 26.0% to approximately HKD 1,346 million in fiscal year 2020, with an adjusted gross margin dropping to 53.9% from 62.5% in fiscal year 2019[103] - The parking business expanded with the addition of 7,553 parking spaces, bringing the total to 106,696 spaces as of March 31, 2020[33] - The group operates 31 hotels with approximately 8,100 rooms across various regions, including Hong Kong, mainland China, Singapore, Malaysia, Australia, the UK, and continental Europe[186] - The group added three new hotels during the year, expanding its portfolio and enhancing recurring income sources[186] - The parking business, operated under the "Care Park" brand, increased by approximately 7,553 parking spaces, bringing the total to about 106,696 parking spaces as of March 31, 2020[199]

Revenue and Profitability - The group's revenue increased by 75.0% year-on-year to HKD 5,121,000,000 due to strong property sales[28] - Net profit attributable to shareholders grew by 16.0% to HKD 715,000,000, while adjusted cash profit increased by 60.4% to HKD 959,000,000[28] - The group's consolidated revenue for the first half of fiscal year 2020 is approximately HKD 5.121 billion, an increase of 75.0% compared to HKD 2.926 billion in the same period of fiscal year 2019[35] - Property sales revenue for the first half of fiscal year 2020 is approximately HKD 3.686 billion, a significant increase of 151.1% from HKD 1.465 billion in the same period of fiscal year 2019[37] - The adjusted gross profit for the first half of fiscal year 2020 is HKD 1.836 billion, up from HKD 1.393 billion in the same period of fiscal year 2019, reflecting an increase of 31.9%[35] - The total profit before tax for the period was HKD 983,148,000, compared to HKD 832,349,000 in the same period of 2018, reflecting an increase of approximately 18.1%[152] Hotel and Gaming Operations - The group's hotel business revenue for the first half of the 2020 fiscal year was approximately HKD 714,000,000, down from HKD 817,000,000 in the same period of the previous year[81] - Hotel business revenue for the first half of fiscal year 2020 was approximately HKD 777 million, a decrease of 10.3% compared to the same period in fiscal year 2019[38] - TWC's gaming revenue reached HKD 119 million in the first half of FY2020, a 34.2% increase from HKD 88 million in the same period of FY2019[86] - The group confirmed full-period revenue from TWC's hotel and gaming operations, which continued to grow year-on-year[28] Development Projects - The group completed multiple residential development projects, including the completion of The Towers at Elizabeth Quay in Perth[28] - Three new projects were launched during the first half of the fiscal year 2020, including The Star Residences in Australia and Dorsett Place Waterfront Subang in Malaysia[28] - The majority of units at the Singapore project Artra have been pre-sold, with construction entering the final stages[28] - The cumulative pre-sale value of properties under development is approximately HKD 11.6 billion, a slight decrease from HKD 14.6 billion as of March 31, 2019, due to recognized sales revenue of HKD 3.7 billion in the first half of the fiscal year 2020 and fewer large project launches[29] - The group’s total development value of residential projects, including completed unsold inventory, is HKD 51.4 billion as of September 30, 2019[29] Financial Position and Capital Management - The net asset liability ratio decreased to 43.9% as of September 30, 2019, from 45.4% as of March 31, 2019[32] - The company had approximately HKD 7.4 billion in undrawn bank financing, which includes HKD 3.7 billion for construction development[47] - The group maintains a strong liquidity position with approximately HKD 7.3 billion in current assets and a net debt-to-equity ratio of 43.9% as of September 30, 2019[92] - The company reported a financing cost of HKD 222,218, which increased from HKD 123,823 in the previous year[118] - The company’s cash and cash equivalents stood at HKD 2,569,745, an increase from HKD 2,470,604 as of March 31, 2019[120] Share Repurchase and Dividends - The interim dividend declared is HKD 0.04 per share, consistent with the previous year[20] - The group has repurchased shares worth approximately HKD 81 million in the first half of fiscal year 2020, with a total planned repurchase amount of HKD 200 million[33] - The share repurchase was aimed at enhancing the company's net asset value and earnings per share[111] - The company declared dividends amounting to HKD (420,070) thousand during the reporting period[124] Market and Economic Conditions - The group expects the hotel business in Hong Kong to be impacted by social unrest, but anticipates long-term growth potential with 14 new hotels set to open[91] - The average exchange rate for HKD to AUD in the first half of fiscal year 2020 was 5.43, a decrease of 6.7% compared to the previous year[50] Accounting Standards and Financial Reporting - The group applied the new and revised Hong Kong Financial Reporting Standards (HKFRS) effective from April 1, 2019, with no significant impact on the financial position and performance during the period[131] - The company adopted Hong Kong Financial Reporting Standard 16 (HKFRS 16) on April 1, 2019, using a modified retrospective approach without restating prior period comparatives[143] - The application of HKFRS 16 did not have a significant impact on the financial statements for the six months ended September 30, 2019[150] Investment Properties and Fair Value - The group faced adverse changes in the fair value of investment properties, which impacted performance compared to the previous fiscal year[28] - The company reported a fair value loss of HKD 16 million on investment properties for the first half of the fiscal year 2020, with the valuation of investment properties at HKD 5,300 million as of September 30, 2019[59] - The total value of investment properties was HKD 19,733,760 thousand as of September 30, 2019, compared to HKD 17,536,727 thousand as of March 31, 2019, reflecting a growth of 12.5%[154]

Awards and Recognition - The company was awarded the title of "Best Medium-Sized Enterprise in Hong Kong" in the 2018 Asia Financial Magazine Awards[11] - The group received five awards at the 2018 Mercury Awards, showcasing its strong market presence[11] Business Development and Expansion - The group successfully acquired a plot of land in Baoshan District, Shanghai for residential development[15] - The company launched the Hong Kong Dan Gui Village project, named "Peijue"[15] - The company partnered with SC Global Developments and New World Development for a competitive bid in Singapore[11] - The company has made several land acquisitions to enhance its development portfolio, including sites in Singapore, Manchester, and Sydney[33] - The company plans to add 15 new hotels and over 3,000 rooms by the end of the fiscal year 2024, including expansions in London and Australia[28] - The company has ongoing plans for 15 new hotels, reflecting optimism about the growth potential in the Asian tourism and hotel development sectors[37] - The company plans to develop long-term rental apartments in mainland China following the acquisition of rental land in Shanghai[47] - The company has a total development value of HKD 50,000,000,000 from acquisitions made after March 31, 2019, sufficient for 8 to 10 years of development, indicating a clear revenue contribution outlook for the coming years[37] Financial Performance - The financial summary for the fiscal year 2019 indicates significant growth in revenue and profitability[6] - Revenue for the fiscal year ended March 31, 2019, was HKD 6,842 million, representing a compound annual growth rate (CAGR) of 7.6%[16] - Net profit attributable to shareholders for the same period was HKD 1,714 million, with a CAGR of 15.7%[16] - Adjusted cash profit for the fiscal year was HKD 1,457 million, reflecting a CAGR of 14.9%[16] - Cash and investment securities increased to HKD 7,070 million, achieving a CAGR of 19.3%[17] - The total assets of the company reached HKD 39,078 million, with a CAGR of 15.2%[17] - The company recorded revenue of HKD 6,842,000,000 for the fiscal year 2019, a 17.3% increase from HKD 5,831,000,000 in 2018, driven by higher sales from residential development projects and strong recurring income from hotel operations[37] - The net profit for the fiscal year 2019 was HKD 1,714,000,000, allowing the company to maintain a high dividend payout, with a total annual dividend of HKD 0.22 per share and a payout ratio of 30.2%[37] - The group’s total debt as of March 31, 2019, was HKD 21,367 million, compared to HKD 16,372 million in the previous year, reflecting increased capital expenditure for development projects[78] - The net asset to debt ratio increased to 45.4% as of March 31, 2019, up from 28.7% the previous year, primarily due to capital expenditures and new investments[76] Hotel and Hospitality Performance - The hotel segment recorded significant growth driven by an increase in average revenue per room and new acquisitions[26] - The hotel business experienced strong revenue growth, driven by increased average room revenue in Hong Kong and contributions from the Dorsett City London and TWC hotel group in Europe[33] - The hotel business revenue for fiscal year 2019 was approximately HKD 1,818 million, an increase of 18.2% year-on-year, driven by strong market growth in Hong Kong and the addition of new hotels[71] - Overall occupancy rate rose by approximately 1.4 percentage points to 84.2% in FY2019[125] - Average room rate increased by 7.8% to HKD 709 per night in FY2019[125] - Average revenue per available room (RevPAR) grew by 9.5% to HKD 597 in FY2019[125] - In Hong Kong, the overall occupancy rate increased by 1.5 percentage points to 95.3%, with an average room rate of HKD 802, reflecting a 10.2% growth in RevPAR[125] Parking Business Development - The parking business is expanding in the UK and continental Europe, targeting high-return acquisition projects[26] - The parking business added 10,275 parking spaces, with revenue increasing to HKD 720,000,000 during the year[39] - The parking division had a strong growth with 494 parking facilities and 99,143 parking spaces as of March 31, 2019, an increase of 10,275 spaces from the beginning of the fiscal year[47] - The parking business increased by approximately 10,275 parking spaces, bringing the total to about 99,143 spaces across 494 parking facilities[135] Gaming and Entertainment Sector - The gaming and entertainment segment has become a new revenue source following the acquisition of TWC and investment in The Star[26] - The Brisbane Queen's Wharf integrated resort's first phase is expected to open by the end of 2022, contributing to increased revenue from the gaming segment[26] - The group generated HKD 197 million in revenue from TWC's gaming operations for the eleven months post-acquisition, contributing to the overall growth strategy in Europe[136] - TWC's casino operations reported a total of 513 slot machines and 62 table games as of March 31, 2019, generating table revenue of HKD 51 million and slot machine revenue of HKD 137 million[139] Sustainability and Governance - The company emphasizes the importance of technology in reducing resource consumption and production costs, aiming to enhance operational efficiency[150] - The company plans to expand the use of renewable energy, particularly solar panels in hotels located in Malaysia and Australia, to reduce energy consumption[150] - The company has established a governance framework for sustainable development, with the board overseeing environmental, social, and governance policies and performance[152] - The company is committed to enhancing its sustainable development governance by forming working groups under the environmental, social, and governance committee[152] - The company identified 18 relevant issues related to sustainability, with 10 prioritized for action based on stakeholder feedback[157] Employee Engagement and Well-being - The group employed a total of 2,272 employees globally during the reporting period[185] - The employee engagement survey in 2018 achieved a participation rate of 99.4%, indicating high employee involvement in feedback processes[189] - Employee benefits include various types of leave, financial assistance for emergencies, and discounts at company-managed hotels[187] - The company promotes diversity and inclusion, ensuring equal opportunities regardless of race, gender, or other differences[188] - The company emphasizes employee well-being and work-life balance, implementing various activities such as sports events and annual health check-ups[197] Risk Management and Compliance - The company conducted an annual review of its risk management and internal control systems, finding them effective and sufficient without significant risk concerns[154] - The company maintains a zero-tolerance policy towards corruption, including bribery and fraud, and has incorporated anti-corruption provisions into its employee handbook[175] - No significant non-compliance cases were reported in 2019 regarding employment laws, including recruitment, promotion, and equal opportunities[191] - Contractors are required to comply with safety codes and regulations, with penalties for non-compliance, including potential blacklisting[198] Investor Relations and Communication - The company conducted various investor communication activities in fiscal year 2019, including investor conference calls and non-deal roadshows, to enhance transparency[177] - The company provided real-time translation and online Q&A sessions during its annual and interim results briefings to facilitate investor understanding[181] - The group emphasizes transparency in communications with investors to better reflect the true value of its business[182]