Financial Performance - For the fiscal year 2024, the core business after-tax profit was approximately HKD 1,553 million[6]. - Core business revenue for 2024 reached HKD 7,833.1 million, an increase of 4.1% compared to HKD 7,522.3 million in 2023[17]. - Equity holders' post-tax core profit decreased by 16.4% to HKD 1,553.0 million from HKD 1,858.1 million year-on-year[17]. - Total revenue under statutory accounting standards was HKD 10,878.5 million, up 2.2% from HKD 10,644.2 million in the previous year[17]. - The overall operating income declined by 8.7% to HKD 2,885.6 million from HKD 3,161.2 million in the previous year[32]. - The total assets of the group amounted to HKD 99,404 million, with total liabilities of HKD 36,378 million, resulting in a net asset value of HKD 63,026 million[27]. - The group's overall performance remains resilient, with a financial cost increase of 15.4% to HKD 512.0 million due to rising interest rates[34]. - The consolidated financial cost for the year amounted to HKD 1,543 million, with an interest coverage ratio of 2.5 times[95]. Dividends - The proposed final dividend for the year ending December 31, 2024, is HKD 0.50 per share, consistent with the previous year[12]. - The total dividend for the fiscal year 2024 is expected to be HKD 0.87 per share, unchanged from 2023[12]. - The mid-term dividend of HKD 0.37 per share was distributed on October 15, 2024[12]. - The group maintained a consistent annual dividend of HKD 0.87 per share for both 2024 and 2023[17]. Property and Development Projects - The company is involved in several development projects, including two premium residential projects in Hong Kong and two hotel development projects in Tokyo and Venice[5]. - The total number of hotel rooms in the company's portfolio exceeds 11,000 across 31 hotels globally[6]. - The residential development project "Lang Hin Peak" in Ho Man Tin has sold 62.5% of its total usable area, generating approximately HKD 9.3 billion in sales proceeds[78]. - The joint development project in Kai Tak has a total land price of HKD 5.35 billion, with a total gross floor area of approximately 992,270 square feet[79]. - The joint development project in Kowloon City has a total land price of HKD 1.934 billion, with a total gross floor area of approximately 414,920 square feet[80]. - The total gross floor area for the Tokyo hotel redevelopment project is approximately 380,000 square feet, with a flagship hotel featuring 270 rooms designed by Kengo Kuma & Associates[83]. - The Venice Murano Island hotel project has a total building area of approximately 170,000 square feet and is set to feature 133 rooms, with construction starting in Q2 2024[86]. Financial Position and Debt - As of December 31, 2024, the group's consolidated net debt is HKD 25,097 million, a decrease of HKD 3,314 million from HKD 28,411 million on December 31, 2023, primarily due to positive cash flow from operations[87]. - The group's equity attributable to shareholders is HKD 54,089 million as of December 31, 2024, down from HKD 56,779 million a year earlier, mainly due to valuation losses on investment properties[87]. - The group's leverage ratio is 36.1% as of December 31, 2024, down from 39.5% a year earlier, reflecting a decrease in net debt[88]. - The total borrowings of the group, including medium-term notes and other loans, amounted to HKD 31,978 million as of December 31, 2024, compared to HKD 34,378 million on December 31, 2023[91]. Market Outlook - The outlook for 2025 indicates potential disruptions to global trade and investment flows due to geopolitical tensions and rising interest rates, impacting economic growth in mainland China and Hong Kong[99]. - The hotel division's outlook remains stable despite operational challenges, including labor shortages and rising costs, with a focus on cost control and innovation[100]. - The office rental market is under pressure due to high inventory levels, with expectations of continued rental pressure on specific properties[100]. Environmental and Sustainability Initiatives - The company aims to reduce energy consumption by 30% and carbon emissions by 46% by 2030, using 2019 as the baseline[114]. - Since 2019, the overall energy consumption and carbon emissions have decreased by 12.2% and 25.9%, respectively[114]. - The company has identified three main climate risks: typhoons, extreme rainfall leading to flooding, and extreme heat[110]. - The company has installed smart water meters in key properties, with no leaks detected, resulting in a 1.4% reduction in overall water consumption since 2019[114]. - Over 12 tons of oyster shells have been converted into sustainable cement products as part of the "Oyster Shell Upgrade and Reuse Program"[115]. - The company has launched a tenant engagement program called "EcoChampion Pledge" to enhance climate change adaptation and mitigation measures for over 30 tenants[122]. Corporate Governance - The company updated its anti-fraud, bribery, and corruption policies, as well as its employee conduct code and privacy policy in 2024[144]. - The board consists of 35% executive directors, 33% non-executive directors, and 47% independent non-executive directors, ensuring a diverse governance structure[160]. - The board has established a comprehensive governance policy framework, including anti-fraud, bribery, and corruption policies[146]. - The board's responsibilities include approving significant business expansions and changes to the capital structure[163]. - The board held a total of four meetings during the fiscal year ending December 31, 2024, with all meetings conducted via teleconference or video conference[176]. Employee and Director Remuneration - A total of 6,155,000 stock options were granted to eligible employees under the 2019 stock option plan, officially announced on March 20, 2024[144]. - The remuneration policy for executive directors is based on their skills, knowledge, responsibilities, and the company's financial performance, with no director participating in decisions regarding their own remuneration[196]. - The annual director's remuneration for each director is set at HKD 220,000 for the year ending December 31, 2024[197].

Financial Performance - Core business revenue for the year ended December 31, 2024, was HKD 7,833.1 million, an increase of 4.1% from HKD 7,522.3 million in 2023[3] - Equity holders' post-tax core profit decreased by 16.4% to HKD 1,553.0 million, down from HKD 1,858.1 million in the previous year[3] - Total revenue according to statutory accounting standards was HKD 10,878.5 million, reflecting a 2.2% increase from HKD 10,644.2 million in 2023[3] - Total revenue for the year ended December 31, 2024, was HKD 10,878.5 million, an increase of 2.2% compared to HKD 10,644.2 million in 2023[11] - The company reported a net loss of HKD 2,396,773,000 for the year, compared to a profit of HKD 828,037,000 in 2023[105] - Basic and diluted loss per share was HKD 2.32, compared to earnings of HKD 1.02 per share in the previous year[105] - The company reported a loss attributable to shareholders of HKD 1,734,209 for the year[130] - The company reported a loss attributable to shareholders of HKD (1,734,209,000) in 2024, compared to a profit of HKD 763,511,000 in 2023[138] Revenue Breakdown - Property sales revenue increased by 24.7% to HKD 1,340.5 million, compared to HKD 1,075.1 million in 2023[8] - Hotel segment revenue rose by 3.1% to HKD 5,085.2 million, up from HKD 4,932.9 million in the previous year[8] - The net rental income from the Crown Industrial Trust decreased by 6.7% to HKD 1,598.4 million, down from HKD 1,713.7 million in 2023[11] - Rental income from investment properties decreased to HKD 2,342,286 in 2024 from HKD 2,477,189 in 2023, reflecting a decline of approximately 5.5%[121] - The total external revenue from the hotel business was HKD 6,608,501, while the total revenue from property investment was HKD 172,329 in 2024[126] Asset and Liability Management - The total assets of the group as of December 31, 2024, were HKD 99,404 million, with total liabilities of HKD 36,378 million, resulting in a net asset value of HKD 63,026 million[9] - The group’s asset-to-liability ratio was 26.5%, which could decrease to 20.9% when considering the estimated value of owned hotels[6] - The overall net debt of the company decreased to HKD 25,097 million as of December 31, 2024, down from HKD 28,411 million a year earlier, primarily due to positive cash flow from operations[72] - Shareholders' equity, based on professional valuation, decreased to HKD 54,089 million as of December 31, 2024, from HKD 56,779 million a year earlier, mainly due to valuation losses on investment properties[72] - The company's total liabilities surged to HKD 8,827,339,000 in 2024, up from HKD 4,145,142,000 in 2023, indicating a substantial increase of 112.0%[142] Dividend and Shareholder Returns - The interim dividend per share remained stable at HKD 0.37, while the final dividend per share was also maintained at HKD 0.50[3] - The proposed final dividend is HKD 0.50 per share, consistent with the previous year, leading to a total annual dividend of HKD 0.87 per share[86] - The company plans to declare a final dividend of HKD 0.50 per share for the financial year ending December 31, 2024, consistent with the previous year[136] Operational Challenges and Outlook - The group anticipates ongoing challenges due to high inflation and changing consumer preferences, impacting overall profitability[12] - The hotel division's outlook remains stable despite operational challenges, including labor shortages and rising costs, with ongoing efforts to control expenses and innovate in hotel operations[68] - The company is focused on maintaining a cautious approach in operations while actively seeking quality investment opportunities to drive future growth[70] - Future outlook remains positive with ongoing developments in new products and technologies aimed at improving service offerings and customer experience[126] Investment and Development Projects - The group plans to open new hotels under the Ying'nFlo brand in major cities in mainland China by 2025[13] - The group has established a joint venture with a Singapore developer to acquire a hotel portion of a mixed-use development project in Kuala Lumpur, expected to commence operations by the end of 2027[13] - The residential development project "Langham Peak" in Ho Man Tin is set to complete in mid-2025, with 990 units and a total gross floor area of approximately 742,000 square feet[52][54] - The joint development project in Kowloon East has a total land price of HKD 5.35 billion, with a gross floor area of approximately 992,270 square feet[55] - The company remains optimistic about the mid-term outlook for the Hong Kong residential market, supported by increasing housing demand from talent immigration from mainland China[68] Governance and Compliance - The company is committed to strong governance principles to enhance stakeholder confidence and long-term value creation[90] - The company has adhered to most of the corporate governance code provisions as outlined in the Hong Kong Stock Exchange Listing Rules[91] - The audit committee reviewed the company's full-year performance for the year ended December 31, 2024[98] - The company has adopted its own securities trading code, which meets or exceeds the standards set forth in the listing rules[97]

Financial Performance - Core business revenue for the six months ended June 30, 2024, was HKD 3,791 million, representing a 4.4% increase from HKD 3,630 million in the same period of 2023[26]. - Profit attributable to equity holders, after tax, was HKD 735.8 million, a decrease of 33.7% compared to HKD 1,109.5 million in the previous year[26]. - Earnings per share attributable to equity holders after tax was HKD 0.98, down from HKD 1.48 in the same period last year[26]. - Total revenue according to statutory accounting standards was HKD 5,293.5 million, up 4.2% from HKD 5,082.4 million in 2023[26]. - The group recorded a significant increase in other income, which rose by 232.1% to HKD 70.4 million compared to HKD 21.2 million in the previous year[30]. - The group recorded a loss attributable to equity holders of HKD 985.9 million, compared to a profit of HKD 478.7 million in the previous year[34]. - The fair value change of investment properties showed a significant increase of 313.1% to a loss of HKD 1,739.6 million from HKD 421.1 million[34]. - The overall operating income decreased by 16.8% to HKD 1,364.5 million from HKD 1,640.4 million in the previous year[35]. - The company reported a basic and diluted loss per share of HKD 1.32, compared to earnings of HKD 0.64 per share in the prior year[129]. - The total comprehensive loss for the period was HKD 1,762,378, compared to a comprehensive income of HKD 373,877 in the same period last year[130]. Revenue Breakdown - Property sales revenue increased by 31.1% to HKD 769.3 million compared to HKD 586.8 million in the previous year[30]. - The total income from the hotel segment is HKD 2,322.1 million, a 3.2% increase from HKD 2,250.2 million in 2023[30]. - Hotel segment revenue rose by 4.2% to HKD 3,094.0 million from HKD 2,970.4 million[34]. - The hotel division total revenue increased by 3.2% year-on-year to HKD 2,322.1 million for the reporting period[41]. - Hotel revenue increased to HKD 3,065,345, up 4.1% from HKD 2,943,290 in the previous year[143]. - Total revenue from customer contracts for the six months ended June 30, 2024, was HKD 3,879,584, up from HKD 3,813,233 in the previous year, indicating a growth of approximately 1.7%[145]. Asset and Liability Management - The total assets of the group as of June 30, 2024, amount to HKD 98,228 million, with total liabilities of HKD 34,364 million[32]. - The group's equity attributable to shareholders was HKD 55,168 million as of June 30, 2024, down from HKD 56,779 million on December 31, 2023, mainly due to valuation losses on investment properties and financial instruments[62]. - The group's leverage ratio increased to 40.4% as of June 30, 2024, compared to 39.5% on December 31, 2023, reflecting the inclusion of liabilities from subsidiaries[62]. - The total borrowings of the group, including medium-term notes and other loans, reached HKD 34,687 million as of June 30, 2024, compared to HKD 34,378 million on December 31, 2023[65]. - The group has a total of HKD 24,410 million in floating-rate bank loans and HKD 10,277 million in fixed-rate borrowings, indicating a 70.4% and 29.6% distribution respectively[66]. Development Projects - The group is developing two premium residential projects in Hong Kong and has joint ventures in two additional projects in the region[4]. - The company has ongoing hotel development projects in San Francisco, Seattle, Tokyo, and Venice[4]. - The residential development project "Lang Hin Fung" in Ho Man Tin is expected to complete in Q2 2025, with over 50% of the 990 units pre-sold, generating approximately HKD 7.6 billion in sales proceeds as of June 30, 2024[58]. - The total land price for the Kowloon Kai Tak NKIL 6590 joint development project is HKD 5.35 billion, with the company holding a 20% stake[59]. - The total gross floor area for the KIL 11290 project is approximately 414,920 square feet, planning to develop around 640 residential units[60]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, as evidenced by the composition of its audit, remuneration, and nomination committees[78][79][80]. - The company updated its anti-fraud, bribery, and corruption policies, as well as the employee code of conduct, aiming for exemplary corporate governance standards[91]. - The company has adopted a board independence policy to ensure independent opinions are available to the board, which is reviewed annually[91]. - The company emphasizes strong governance principles to enhance corporate image and reduce fraud risk, creating long-term value for stakeholders[89]. - The company has a comprehensive governance policy framework, including anti-fraud and bribery policies, and a code of conduct for employees[90]. Market Outlook - The company maintains a cautious yet optimistic outlook on the Hong Kong property market, anticipating strong rental demand despite economic uncertainties[72]. - The hotel division is expected to remain stable, benefiting from increased global air capacity, although operating cost pressures persist[73]. - The anticipated interest rate cuts in the second half of 2024 are expected to lower borrowing costs and enhance profitability for the company[73]. - The company plans to continue upgrading facilities in phases to improve tenant welfare and attract more tenants with smart and eco-friendly features[73]. - The company plans to continue expanding its market presence, particularly in the United States and Canada, where revenue growth has been observed[152]. Shareholder Information - The company declared an interim dividend of HKD 0.37 per share for the six months ended June 30, 2024, consistent with the previous year's interim dividend[17]. - As of June 30, 2024, the company has issued a total of 747,723,345 shares, with no new shares issued in the six months ending on that date[98]. - Major shareholders include HSBC International Trustee Limited with 315,009,622 shares (42.13% of issued share capital) and Powermax Agents Limited with 246,937,926 shares (33.03%)[124]. - The company has a total of 254,664,393 shares (34.06%) held in trust by HSBC International Trustee Limited for certain directors[125]. Financial Instruments and Risk Management - The company manages interest rate risk associated with floating-rate borrowings through these financial instruments[199]. - The company also utilizes foreign exchange derivative contracts to mitigate risks from currency fluctuations[199]. - The company has entered into interest rate swaps with a total nominal amount of HKD 1,500,000,000, maintaining the same amount as of December 31, 2023[199]. - The interest rate for the swaps ranges from 3.975% to 3.995%, consistent with the previous reporting period[199].

Financial Performance - Core business revenue for the six months ended June 30, 2024, was HKD 3,791.0 million, an increase of 4.4% compared to HKD 3,630.0 million in 2023[3]. - The attributable core profit after tax for equity holders was HKD 735.8 million, a decrease of 33.7% from HKD 1,109.5 million in the previous year[3]. - Total revenue according to statutory accounting standards was HKD 5,293.5 million, up 4.2% from HKD 5,082.4 million in 2023[4]. - The company recorded a loss attributable to equity holders of HKD 985.9 million, compared to a profit of HKD 478.7 million in the same period of 2023[20]. - The net loss attributable to shareholders for the six months ended June 30, 2024, was HKD 1,343,606,000, a significant decline from a profit of HKD 495,876,000 in the same period of 2023[88]. - The company reported a total comprehensive loss of HKD 1,762,378,000 for the first half of 2024, compared to a comprehensive income of HKD 373,877,000 in the same period of 2023[88]. - Total revenue for the six months ended June 30, 2024, was HKD 5,293,488, representing an increase of 4.2% from HKD 5,082,425 in the same period of 2023[96]. Revenue Breakdown - Property sales revenue increased by 31.1% to HKD 769.3 million from HKD 586.8 million in the previous year[7]. - Hotel segment revenue was HKD 2,322.1 million, a 3.2% increase from HKD 2,250.2 million[8]. - The total rental income was HKD 84.2 million, reflecting a 2.2% increase from HKD 82.4 million[9]. - Hotel revenue for the six months ended June 30, 2024, reached HKD 3,065,345, an increase of 4.1% from HKD 2,943,290 in the same period of 2023[96]. - Revenue from property sales surged to HKD 769,286, up 31.0% from HKD 586,817 in the prior year[96]. Operating Income and Expenses - The company’s core operating income decreased by 16.8% to HKD 1,364.5 million from HKD 1,640.4 million in the previous year[12]. - Total operating revenue decreased by 16.8% to HKD 1,364.5 million, primarily due to a lack of sales revenue from the previous year[22]. - Administrative, sales, and other expenses increased by 9.7% to HKD 249.6 million in the first half of 2024, compared to HKD 227.5 million in the same period of 2023[24]. - Financial costs rose by 39.0% to HKD 260.7 million in the first half of 2024, up from HKD 187.5 million in the same period of 2023[24]. Asset and Liability Management - The total assets as of June 30, 2024, amounted to HKD 95,152,071,000, an increase from HKD 88,440,942,000 at the end of 2023, indicating a growth of approximately 7.7%[89]. - The total equity attributable to shareholders decreased to HKD 54,551,003,000 as of June 30, 2024, from HKD 56,156,763,000 at the end of 2023, a decline of about 2.9%[90]. - The company's current liabilities decreased to HKD 14,401,898,000 as of June 30, 2024, from HKD 22,722,227,000 at the end of 2023, a reduction of approximately 36.7%[89]. - The group's consolidated net borrowings amounted to HKD 28,128 million, a decrease of HKD 283 million from HKD 28,411 million on December 31, 2023, primarily due to positive cash flow from operations[62]. Investment and Development Projects - The company recorded approximately HKD 7.6 billion in sales from the pre-sale of "朗賢峯" since its launch in late April 2024[5]. - The company plans to expand its mid-range brand Ying'nFlo with several new locations in mainland China by 2025[21]. - The residential development project "Lang Hin Peak" in Ho Man Tin has sold over half of its units, generating approximately HKD 7.6 billion in sales proceeds as of June 30, 2024[51]. - The Tokyo hotel redevelopment project has a planned gross floor area of approximately 380,000 square feet, with a flagship hotel designed by Kengo Kuma & Associates[55]. Market Outlook and Strategy - The company maintains a cautious optimism regarding the mid-term outlook for the Hong Kong property market, despite ongoing economic uncertainties and high inventory levels[60]. - The group continues to explore new strategies for market expansion and product development[101]. Corporate Governance and Shareholder Information - The board declared an interim dividend of HKD 0.37 per share for the six months ended June 30, 2024, consistent with the previous year[71]. - The company has issued a total of 747,723,345 shares as of June 30, 2024, with no new shares issued during the six-month period[83]. - The company has maintained over 25% of its issued shares held by the public, ensuring sufficient public float[84]. - The 2024 Share Option Plan was approved by shareholders on May 29, 2024, effective for 10 years, aligning with the revised listing rules effective January 1, 2023[80].

Business Expansion and Development - The company opened the Ying'nFlo hotel brand targeting millennials and Generation Z, with the first location in Hong Kong launched in 2022 and a new location in Wesley Admiralty opened in 2023[6]. - The company has ongoing developments in various locations including Seattle, San Francisco, and Venice, indicating a focus on market expansion[3]. - The company established joint ventures for residential projects in Kai Tak and Ma Tau Chung, reflecting strategic partnerships for growth[6]. - The company has plans for further development in the residential sector, particularly in the Tai Po area with the launch of the Lang Tao project[6]. - The company is involved in two joint venture residential projects in Hong Kong and has development projects in San Francisco and Seattle, as well as hotel projects in Tokyo and Venice[12]. - The company has initiated construction of a new Langham hotel in Venice, Italy, and is planning a redevelopment project for the Chelsea hotel in Toronto[36]. - The group is expanding the Chelsea hotel redevelopment project in Toronto to a total floor area of approximately 1.7 million square feet due to strong demand for apartments[71]. - The Seattle development project aims to expand the total floor area to 553,000 square feet, incorporating residential elements to enhance financial attractiveness[70]. Financial Performance - The core business of the company reported a post-tax profit of approximately HKD 1,858 million for the fiscal year 2023[12]. - Core profit attributable to equity holders increased by 32.5% to HKD 1,858.1 million for the year ended December 31, 2023[19]. - Core business revenue rose by 15.1% to HKD 7,522.3 million, with earnings per share increasing from HKD 1.90 to HKD 2.49[19]. - Total revenue according to statutory accounting standards was HKD 10,644.2 million, up 19.8% from HKD 8,884.8 million[19]. - The net income attributable to equity holders was HKD 763.5 million, recovering from a loss of HKD 181.4 million in 2022[37]. - Total revenue for 2023 reached HKD 7,522.3 million, an increase of 15.1% compared to HKD 6,536.3 million in 2022[31]. - Hotel segment revenue increased by 25.5% to HKD 4,932.9 million in 2023, up from HKD 3,929.1 million in 2022[31]. - Property sales revenue rose by 16.9% to HKD 1,075.1 million in 2023, compared to HKD 920.0 million in 2022[31]. - Total revenue from property sales reached HKD 798.1 million, a significant increase of 74.5% compared to the previous year[40]. Asset Management and Investments - As of December 31, 2023, the net asset value, based on the company's share of the net asset values of the Crown Property Trust and LHI, was approximately HKD 65.32 billion[12]. - The company holds a 69.23% stake in the Crown Property Trust and a 70.23% stake in LHI as of December 31, 2023[12]. - The total assets of the company amounted to HKD 98.801 billion, with property investments accounting for 46%[22]. - The consolidated net borrowings of the group as of December 31, 2023, amounted to HKD 28,411 million, an increase of HKD 1,141 million from HKD 27,270 million on December 31, 2022[73]. - The total borrowings of the group, including medium-term notes and other loans, were HKD 34,378 million as of December 31, 2023, compared to HKD 33,331 million on December 31, 2022[76]. Sustainability and Corporate Responsibility - The group aims to achieve net-zero emissions by 2045 as part of its sustainability strategy[86]. - The group focused on climate crisis challenges, conducting physical climate risk analysis on 10 major assets, with 6 located in Hong Kong and 4 overseas[88]. - The group implemented various sustainable development projects, emphasizing energy efficiency, water resource management, and waste reduction across its property portfolio[90]. - The group encourages sustainable practices among suppliers and promotes the procurement of environmentally friendly products and services[98]. - The group awarded a total of HKD 2 million in scholarships to support 80 undergraduate students in sustainable development, environment, and energy fields over a 5-year period[96]. Governance and Compliance - The company emphasizes strong governance principles to enhance corporate image and reduce fraud risk[103]. - The board composition includes 47% executive directors, 20% non-executive directors, and 33% independent non-executive directors, ensuring a diverse governance structure[110]. - The company has adhered to most corporate governance codes, with specific deviations noted regarding the rotation of directors and the roles of the chairman and CEO[109]. - The company has implemented policies on anti-fraud, bribery, and corruption, establishing minimum behavioral standards for employees[107]. - The board regularly reviews governance policies and procedures to align with the latest statutory and regulatory frameworks[108]. Employee Engagement and Development - The company emphasizes communication and team spirit, conducting regular employee meetings and entertainment activities to enhance collaboration and morale[166]. - The company is committed to maintaining a balance between work and life for its employees, promoting well-being through various initiatives[166]. - The company has established an online forum for employees to share ideas freely, fostering an inclusive work environment[166]. - The company plans to adopt a share award scheme to retain and reward employees based on their contributions, aligning their interests with those of shareholders[134]. Market Challenges and Outlook - The recovery of the retail and tourism sectors in 2023 is slower than expected, impacting the group's business operations in the short term[200]. - The overall external environment remains unfavorable, with the group not fully recovering from the long-term global economic crisis or recession[200]. - The company is actively repositioning its hotel service operations to attract and retain guests, stabilizing hotel occupancy rates and average room prices[200]. - The group is enhancing preventive measures to improve workplace hygiene standards and updating business continuity and disaster recovery plans[200].

智通财经APP获悉，鹰君(00041)涨超4%，截至发稿，涨3.85%，报11.34港元，成交额248.43万港元。 消息面上，鹰君公布2023年业绩，核心业务收益约75.22亿港元，同比增长15.1%；总收益约106.44亿港 元，同比增长19.8%；权益持有人应占溢利7.635亿港元，2022年应占亏损约1.81亿港元；末期股息每股 0.5港元。 其中，核心业务营运收入上升 23.3%至31.61亿港元，主要由于在全球各地恢复无限制出行后，集团的 酒店组合表现有所改善，取得 EBITDA 10.98亿港元，较去年增长 78.3%。另一方面，尽管市场面临不 利因素，"朗涛"住宅项目的销售仍稳步推进，并于报告期内取得7.98亿港元的销售收入。 ...

Financial Performance - Core business revenue increased by 15.1% to HKD 7,522.3 million from HKD 6,536.3 million[3] - After-tax core profit attributable to equity holders rose by 32.5% to HKD 1,858.1 million, up from HKD 1,402.6 million[3] - Total revenue under statutory accounting standards grew by 19.8% to HKD 10,644.2 million compared to HKD 8,884.8 million[4] - Total revenue for the year ended December 31, 2023, increased by 19.8% to HKD 10,644.2 million compared to HKD 8,884.8 million in 2022[12] - Core operating income increased by 23.3% to HKD 3,161.2 million, compared to HKD 2,563.4 million in 2022[14] - The net profit for the year was HKD 828,037 thousand, a significant recovery from a loss of HKD 410,814 thousand in 2022[82] - Basic earnings per share for 2023 was HKD 1.02, compared to a loss per share of HKD 0.25 in 2022[81] - The company reported a profit attributable to shareholders of HKD 763,511,000 for 2023, a significant recovery from a loss of HKD 181,404,000 in 2022[105] Revenue Breakdown - Hotel segment revenue surged by 25.5% to HKD 4,932.9 million from HKD 3,929.1 million[7] - Hotel segment revenue rose by 34.4% to HKD 6,550.4 million, up from HKD 4,872.8 million in the previous year[11] - Total revenue for the hotel grew by 87.7% year-on-year to HKD 576.5 million in 2023[36] - The hotel achieved a 1.5 times increase in room revenue compared to 2022, with occupancy rising from 66.4% to 89.8% and average room rate increasing by 14.7% to HKD 1,638 per night, leading to a 55.2% rise in revenue per available room to HKD 1,471[37] - Total revenue for the hotel increased by 76.8% year-on-year to HKD 654.8 million in 2023[37] - The hotel’s occupancy rate rose from 73.4% in 2022 to 87.0% in 2023, with average room rate increasing by 21.8% to HKD 1,110 per night, resulting in a 44.4% increase in revenue per available room[38] - Total revenue from the Crown Industrial Trust decreased by 8.7% to HKD 1,031.4 million in 2023, with the group's share of distribution income falling by 12.3% to HKD 698.6 million[28][29] Property Sales and Rental Income - Property sales revenue reached HKD 1,075.1 million, marking a 16.9% increase from HKD 920.0 million[7] - The company recorded property sales revenue of HKD 798.1 million, a significant increase of 74.5% from HKD 457.3 million in the previous year[12] - Net rental income from LHI increased by 57.6% to HKD 494.7 million, up from HKD 313.8 million in 2022[12] - Rental income from investment properties was HKD 2,477,189 in 2023, slightly down from HKD 2,497,221 in 2022, indicating a decrease of about 0.8%[92] - Average selling price of residential units in the White Stone Corner project was HKD 21,564 per square foot, with 664 units sold, representing 91.8% of total units[18] Costs and Expenses - Financial costs increased by 58.1% to HKD 1,311.7 million due to rising market interest rates[12] - Employee costs, including director remuneration, amounted to HKD 2,946.7 million for the year ended December 31, 2023, up from HKD 2,456.9 million in 2022[75] - The company’s income tax expense for 2023 was HKD 497,991, up from HKD 470,153 in 2022[100] - The company incurred a total depreciation expense of HKD 2,462,680,000 across its segments[96] Assets and Liabilities - The total assets of the group amounted to HKD 98,801 million, with total liabilities of HKD 33,479 million, resulting in a net asset value of HKD 65,322 million[9] - The group's net borrowing increased to HKD 28,411 million as of December 31, 2023, up from HKD 27,270 million a year earlier, primarily due to additional loans for development projects[56] - The group's equity attributable to shareholders was valued at HKD 56,779 million, a decrease of HKD 41 million from the previous year due to valuation losses on investment properties[56] - Current liabilities increased to HKD 22,722,227 thousand from HKD 18,123,852 thousand in 2022, reflecting a rise in short-term borrowings[83] Dividends - Total dividends per share for the year increased to HKD 0.87 from HKD 0.83[4] - The board recommends a final dividend of HKD 0.50 per share for the year ended December 31, 2023, maintaining the same level as the previous year[65] - The company declared a final dividend of HKD 0.50 per share for the fiscal year ending December 31, 2022, totaling HKD 373,862,000, compared to HKD 365,520,000 in 2021[102] Future Outlook and Expansion - The company plans to expand its new mid-scale hotel brand Ying'nFlo into mainland China, with the first location in Hong Kong starting operations in September 2023[13] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[85] - The company plans to continue expanding its market presence and exploring new investment opportunities in the real estate sector[95] - The group remains cautiously optimistic about the mid-term outlook for the Hong Kong property market, driven by recent economic stimulus measures[54] Corporate Governance - The company has complied with the corporate governance code and has implemented various best practices throughout the year[71] - The board believes that the dual role of the chairman and CEO is appropriate for the company, despite deviations from the corporate governance code[74] - All directors participated in continuous professional development in 2023, except for one non-executive director due to inactivity[73]

智通财经APP数据显示，鹰君(00041)、安踏体育-R(82020)、长城汽车-R(82333)上一交易日沽空比率位 于前三位，分别为100.00%、100.00%、100.00%。腾讯控股(00700)、美团-W(03690)、建设银行(00939) 的沽空金额位居前三，分别为8.32 亿元、5.46 亿元、3.40 亿元。鹰君(00041)、中国移动-R(80941)、百 度集团-SWR(89888)的偏离值位居前三，分别为91.17%、51.04%、50.93%。 股票名称 沽空金额 沽空比率↓ 偏离值 鹰君(00041) 2.28 万元 100.00% 91.17% 安踏体育-R(82020) 1.25 万元 100.00% 21.42% 长城汽车-R(82333) 8.88 万元 100.00% 23.97% 京东健康-R(86618) 1227.00元 99.92% 29.87% 友邦保险-R(81299) 11.11 万元 90.91% 43.48% 吉利汽车-R(80175) 11.83 万元 89.45% 19.47% 中国移动-R(80941) 109.81 万元 87.80% 51.0 ...

Financial Performance - Core business revenue for the six months ended June 30, 2023, was HKD 3,630 million, representing a 22.3% increase from HKD 2,967 million in the same period of 2022[7] - Profit attributable to equity holders, excluding tax, was HKD 1,109.5 million, a significant increase of 116.3% compared to HKD 513 million in the previous year[7] - Earnings per share attributable to equity holders, excluding tax, rose to HKD 1.48 from HKD 0.70[7] - Total revenue according to statutory accounting standards was HKD 5,082.4 million, up 24.2% from HKD 4,091 million in the prior year[7] - The company reported a significant increase in EBITDA for the hotel segment, which rose by 220.2% to HKD 422.4 million from HKD 131.9 million[11] - The company’s total comprehensive income for the first half of 2023 was HKD 5,082.4 million, up 24.2% from HKD 4,091.0 million in the same period of 2022[16] - The company reported a profit of HKD 495,876,000 for the six months ended June 30, 2023, compared to HKD 167,091,000 for the same period in 2022, representing a significant increase of 196.5%[115] - Total comprehensive income for the period was HKD 373,877,000, a recovery from a loss of HKD 2,414,356,000 in the previous year[115] Dividends and Shareholder Returns - The interim dividend declared was HKD 0.37 per share, an increase from HKD 0.33 per share in 2022[6] - The group declared an interim dividend of HKD 0.37 per share for the six months ended June 30, 2023, compared to HKD 0.33 per share for the same period in 2022, representing an increase of approximately 12.1%[159] - The company declared dividends amounting to HKD 731,040 million during the reporting period[120] Assets and Liabilities - The net asset value as of June 30, 2023, was approximately HKD 65.12 billion, based on the group's interests in Crown Property Trust and LHI[2] - Total assets as of June 30, 2023, amounted to HKD 98,838 million, with total liabilities of HKD 33,719 million, resulting in a net asset value of HKD 65,119 million[14] - The group's total assets for the property development segment were HKD 12,352,257,000, with total liabilities of HKD 6,434,278,000, resulting in a net asset value of HKD 5,917,979,000[148] - The total liabilities for property investment as of June 30, 2023, were HKD 46,813,000, with a net asset value of HKD 5,214,855,000[148] Revenue Breakdown - Hotel segment revenue increased by 41.4% to HKD 2,250.2 million, compared to HKD 1,591.3 million in the previous year[11] - Revenue from mainland China hotels surged by 123.9% to HKD 204.6 million in the first half of 2023, up from HKD 91.4 million in the same period of 2022[26] - The hotel business segment generated external revenue of HKD 2,942,323,000, indicating strong performance in hospitality services[141] - Revenue from customer contracts amounted to HKD 2,824,388,000 for the six months ended June 30, 2022, showing a significant increase in performance[137] Financial Costs and Income - The company’s financial costs increased by 97.2% to HKD 187.5 million, compared to HKD 95.1 million in the previous year[11] - Interest income increased by 340.6% to HKD 82.4 million, compared to HKD 18.7 million in the first half of 2022, partially offsetting the rise in borrowing costs[20] - The group's interest expenses for the six months ended June 30, 2023, totaled HKD 579,745,000, compared to HKD 349,259,000 for the same period in 2022, indicating an increase of approximately 66%[152] Market Outlook and Strategy - The market outlook remains cautiously optimistic for the long-term prospects of the Hong Kong residential market despite short-term volatility[65] - The company plans to expand its new mid-scale hotel brand Ying'nFlo into Hong Kong and mainland China, with a second Ying'nFlo hotel set to open in Hong Kong in Q4 2023[17] - The company aims to enhance its market position through strategic investments and potential acquisitions in the upcoming quarters[115] - Future outlook remains positive with expectations of continued revenue growth driven by increased hotel occupancy and property management services[127] Corporate Governance and Sustainability - The board of directors has emphasized the importance of sustainability initiatives, committing to reduce carbon emissions by 20% by 2025[76] - The company emphasizes high standards of corporate governance to enhance its image and reduce fraud risk, ultimately benefiting long-term shareholder interests[77] - The company has established a comprehensive governance policy that includes anti-fraud, anti-bribery, and anti-corruption measures, as well as a code of conduct for securities trading[80] - The company aims for net-zero emissions by 2045 as part of its sustainable development goals[83] Employee and Labor Costs - Labor and employee costs continue to rise, leading to increased operating costs, which are expected to slow down net income growth for the global hotel portfolio[66] - The company provides competitive employee compensation and discretionary bonuses based on performance, along with benefits such as education allowances and medical plans[81] Development Projects - The company is developing two premium residential projects in Hong Kong and several projects in the United States, Japan, and Italy[2] - The development project in Ho Man Tin involves constructing 990 residential units with a total floor area of approximately 742,000 square feet, scheduled for pre-sale in the first half of 2024[49] - The Tokyo hotel redevelopment project has a total floor area of approximately 380,000 square feet, with planning applications submitted for further development optimization[51] Share Capital and Ownership - As of June 30, 2023, the company has issued a total of 747,723,345 shares[83] - Major shareholders include HSBC International Trustee Limited with a 42.13% stake and Powermax Agents Limited with a 33.03% stake[108] - The company’s board members collectively hold significant interests, with Dr. Lo Ka Sui and Dr. Lo Wing Chiu being major shareholders[88]

Financial Performance - Core business revenue increased by 22.3% to HKD 3,630 million compared to HKD 2,967 million in the previous year[3] - After-tax core profit attributable to equity holders surged by 116.3% to HKD 1,109.5 million from HKD 513.0 million[3] - Total revenue under statutory accounting standards rose by 24.2% to HKD 5,082.4 million from HKD 4,091.0 million[4] - Earnings per share for after-tax core profit reached HKD 1.48, up from HKD 0.70[3] - Total revenue for the first half of 2023 reached HKD 5,082.4 million, a 24.2% increase from HKD 4,091.0 million in 2022[12] - Net income attributable to equity holders was HKD 478.7 million, a significant increase of 286.4% from HKD 123.9 million in the prior year[14] - The company’s total comprehensive income for the period was HKD 373,877,000, a significant recovery from a loss of HKD 2,414,356,000 in the previous year[76] - The company reported a net profit attributable to shareholders for the six months was HKD 478,666,000, compared to HKD 123,864,000 in the previous year, reflecting a growth of 286.5%[75] Revenue Breakdown - Hotel segment revenue surged by 47.9% to HKD 2,970.4 million, compared to HKD 2,008.3 million in the previous year[12] - Total hotel revenue increased by 41.4% to HKD 2,250.2 million in the first half of 2023, compared to HKD 1,591.3 million in 2022[22] - Revenue from the mainland China hotel segment surged by 123.9% to HKD 204.6 million in the first half of 2023[22] - The property investment segment generated revenue of HKD 82,382, reflecting a stable performance[89] - The property development segment reported revenue of HKD 586,817, maintaining consistent growth[89] Cost and Expenses - Financial costs rose by 66.0% to HKD 579.8 million, compared to HKD 349.3 million in the previous year[13] - Employee costs, including director remuneration, amounted to HKD 1,388.8 million for the six months ended June 30, 2023, compared to HKD 1,100.8 million in 2022[69] - Administrative and other expenses totaled HKD 238,028, impacting the net profit margin[89] - The total interest expense for the period was HKD 663,773, compared to HKD 376,100 in the previous year, reflecting an increase of about 76.3%[92] Dividends and Shareholder Returns - The interim dividend per share was declared at HKD 0.37, compared to HKD 0.33 in the previous period[4] - Total cash dividends paid for the six months ended June 30, 2023, amounted to HKD 373,862,000, compared to HKD 98,926,000 for the same period in 2022, indicating a significant increase[97] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 98,838 million, with total liabilities of HKD 33,719 million[10] - The group's equity attributable to shareholders was valued at HKD 56,945 million as of June 30, 2023, an increase of HKD 125 million from HKD 56,820 million as of December 31, 2022[53] - The company's total liabilities decreased to HKD 5,683,648,000 as of June 30, 2023, from HKD 6,719,586,000 as of December 31, 2022, showing a reduction of 15.4%[102] Market Outlook and Strategy - The group is cautiously optimistic about the long-term prospects of the Hong Kong residential market despite short-term volatility and rising operational costs[51] - The introduction of the mid-range hotel brand Ying'nFlo into the Greater China market is part of the group's strategy to meet growing demand[51] - The group anticipates that the recent economic stimulus measures in China will help boost domestic demand, benefiting Hong Kong as well[51] - The company plans to continue leveraging its investment properties and hotel assets for refinancing opportunities, ensuring sufficient working capital for operational needs[79] Operational Highlights - The company plans to expand its new mid-scale hotel brand Ying'nFlo into Hong Kong and mainland China, with a new hotel set to open in Q4 2023[15] - The average room rate at The Langham, Hong Kong rose by 24.3% to HKD 2,044 per night, with occupancy increasing to 84.5% from 70.6% year-on-year[36] - The average revenue per available room (RevPAR) for The Langham, Hong Kong increased by 48.9% to HKD 1,727[36] - The company provided hotel management services to 12 third-party hotels, totaling approximately 3,400 rooms as of the end of Q2 2023[28]