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]

Financial Performance - The core business after-tax profit for the fiscal year 2022 was approximately HKD 1,403 million[3]. - Core business revenue increased to HKD 6,536.3 million, up 14.7% from HKD 5,696.9 million in 2021[7]. - Profit attributable to equity holders after tax rose to HKD 1,402.6 million, a 3.1% increase from HKD 1,360.6 million[17]. - Total comprehensive income for the year was HKD 8,884.8 million, reflecting a 13.5% increase from HKD 7,830.4 million[21]. - The group's attributable core profit for the year was HKD 1,402.6 million, indicating a recovery from previous losses[23]. - The net leverage ratio based on statutory accounting standards was 36.9%, slightly up from 36.4% in June 2022[9]. - The group's net borrowings as of December 31, 2022, amounted to HKD 27,270 million, a decrease of HKD 10 million compared to December 31, 2021[54]. - The total borrowings of the group, including the subsidiaries, were HKD 33,331 million as of December 31, 2022, down from HKD 33,502 million in the previous year[57]. - The leverage ratio of the group as of December 31, 2022, was 36.9%, an increase from 34.0% as of December 31, 2021[55]. - The overall interest coverage ratio for the group was 3.9 times during the reporting period[61]. Asset and Investment Overview - As of December 31, 2022, the net asset value (attributable to the interests in Champion REIT and LHI) was approximately HKD 64,504 million[3]. - The total assets of the group amounted to HKD 98,727 million, with total liabilities of HKD 34,223 million[19]. - The company holds a 68.28% interest in Champion REIT and a 69.70% interest in LHI as of December 31, 2022[2]. - The company has made 19 investments totaling USD 26.0 million (approximately HKD 203.0 million) in sectors like semiconductors and AI, with 13 investments completed in 2022[49]. - The group has a total of HKD 24,296 million in properties mortgaged or pledged as of December 31, 2022, up from HKD 20,495 million in the previous year[61]. Hotel and Property Operations - The company has a portfolio of 29 hotels with over 10,000 rooms globally[2]. - Total revenue from the hotel segment surged by 88.4% to HKD 3,929.1 million, compared to HKD 2,085.7 million in the previous year[17]. - The hotel EBITDA for 2022 was HKD 615.9 million, a significant recovery from a loss of HKD 105.4 million in 2021[28]. - The occupancy rate for the London Langham Hotel reached 65.5%, up from 22.8% in the previous year[27]. - The average daily room rate for the Langham Hotel rose by 58.9% to HKD 1,753 in 2022, compared to HKD 1,103 in 2021[39]. - The average room rate for the Cordis Hotel increased by 43.4% to HKD 1,428 in 2022, compared to HKD 996 in 2021[40]. - The hotel achieved a 73.4% occupancy rate in 2022, with an average room rate increasing by 70.6% year-on-year, leading to a total room revenue increase of 156.8%[41]. - The company plans to develop two premium residential projects in Hong Kong and two development projects in San Francisco, USA[2]. Dividend and Shareholder Returns - The proposed final dividend for the year ended December 31, 2022, is HKD 0.50 per share, totaling HKD 0.83 for the full year[6]. - The company declared a total annual dividend of HKD 0.83 per share, down from HKD 1.33 per share in 2021[7]. Sustainability and Environmental Initiatives - The group has implemented a climate leadership strategy aiming to become a recognized climate leader in Hong Kong and Asia, with a focus on sustainable development initiatives[69]. - The company aims to achieve net-zero emissions by 2045 and will continue to engage with stakeholders to advance its sustainability goals[71]. - The group completed multiple energy-saving projects and established a 2030 energy-saving plan, including energy audits for properties in Hong Kong[69]. - The company has committed to a 2030 energy-saving plan for its properties in Hong Kong[93]. - The company’s climate leadership strategy focuses on three key areas: talent, assets, and capital[96]. - The company has not reported any significant violations of environmental laws and regulations in 2022[94]. - The company aims to reduce carbon emissions from its Hong Kong properties by 46% by 2030[97]. Community Engagement and Social Responsibility - The group collaborated with non-profit organizations to engage in community projects, focusing on arts, children's education, and environmental protection[151]. - The group established the "Eagle Music Children's Orchestra" to provide free music education for underprivileged children, with 69 members in the orchestra and 16 in the chamber choir[153]. - The group donated 1,000 back-to-school pandemic prevention packages to underprivileged students and families in collaboration with various community organizations during the pandemic[156]. - The group has partnered with the Make a Wish Foundation to fulfill wishes for sick children wishing to stay in five-star hotels[170]. - The group organized a "Champion Moms" program to support mothers of children with special educational needs, promoting social rights and upward mobility[171]. Employee Welfare and Training - The group provided a total of 113,204 hours of training for employees in 2022[148]. - The company organized mental health and stress management training for employees, including yoga classes[142]. - The group aims to create an engaging work environment supported by performance evaluation opportunities and open communication channels[130]. - The group is committed to sustainable practices, including the recycling of used cooking oil into biofuel and donating used linens and tableware to local charities[122]. Risk Management and Compliance - The internal audit department conducts annual reviews of the effectiveness of the company's risk management and internal control systems[85]. - The group has maintained a commitment to high ethical standards and compliance with relevant laws and regulations[180]. - The group has not reported any significant violations of anti-corruption laws or regulations during the year[181].

Financial Performance - Core business revenue for the six months ended June 30, 2022, was HKD 2,967 million, representing a 15.7% increase from HKD 2,563.8 million in the same period of 2021[11]. - Profit attributable to equity holders, excluding tax, was HKD 513 million, down 4.1% from HKD 534.9 million in the previous year[11]. - Earnings per share attributable to equity holders, excluding tax, was HKD 0.70, compared to HKD 0.74 in the prior year[11]. - Total revenue according to statutory accounting standards was HKD 4,091 million, a 14.6% increase from HKD 3,569.3 million in the previous year[11]. - Core profit before tax for the six months ended June 30, 2022, was HKD 589.8 million, a 7.5% increase from HKD 548.8 million in the same period of 2021[15]. - The group reported a core profit after tax of HKD 512.7 million, a decrease of 4.2% from HKD 535.0 million in the same period of 2021[15]. - Total revenue for the first half of 2022 was HKD 4,091.0 million, representing a 14.6% increase from HKD 3,569.3 million in the first half of 2021[19]. - The group achieved a profit attributable to shareholders of HKD 123.864 million for the period[134]. - The group reported a net profit before tax of HKD 378.685 million, showcasing robust financial health[134]. - The company reported a significant increase in investment income, amounting to HKD 216,708 million for the period[114]. Dividend and Shareholder Returns - The company declared an interim dividend of HKD 0.33 per share, consistent with the previous year's interim dividend[8]. - The group declared an interim dividend of HKD 0.33 per share for the six months ended June 30, 2022, consistent with the previous year[146]. - The company issued 16,682,933 shares as scrip dividends at a price of HKD 15.98 per share, compared to 10,247,300 shares at HKD 25.32 per share in the previous period[194]. Assets and Liabilities - The total assets of the group as of June 30, 2022, amounted to HKD 100,329 million, with net assets of HKD 66,318 million[17]. - The total assets of the group's operations decreased from HKD 47,069 million at the end of 2021 to HKD 44,000 million as of June 30, 2022[18]. - The company's total liabilities as of June 30, 2022, were HKD 11,602,821,000, compared to HKD 11,573,080,000 as of December 31, 2021, indicating a slight increase in debt levels[140]. - The company's total non-current liabilities amounted to HKD 28,037 million, an increase from HKD 27,501 million as of December 31, 2021, representing a growth of approximately 1.9%[113]. - The company's cash and cash equivalents stood at HKD 4,930,936,000, down from HKD 6,119,146,000 at the end of 2021, reflecting a need for cash flow optimization[112]. Revenue Breakdown - Hotel segment revenue increased by 119.2% to HKD 1,591.3 million compared to HKD 725.9 million in the previous year[15]. - The revenue from property sales was HKD 539.6 million, down 43.7% from HKD 957.6 million in the same period last year[19]. - Rental income from investment properties was HKD 1,253,306,000, a slight decrease of 3.9% from HKD 1,303,514,000 in the prior period[123]. - The hotel business segment generated external revenue of HKD 2,008.281 million, contributing significantly to the overall performance[134]. Operational Developments - The company is developing two premium residential projects in Hong Kong and several hotel projects in the United States, Japan, and Italy[3]. - The company plans to pre-sell a residential project in Ho Man Tin in the first half of 2023, with completion expected in Q4 2024[20]. - The company is advancing the redevelopment of the Chelsea hotel project in London, which will exceed 1.7 million square feet[27]. - The company launched a new mid-range hotel brand "Yifeng Hotel" to expand its hotel business in mainland China[29]. Financial Management and Costs - The group's administrative and other expenses increased by 41.2% to HKD 270.0 million from HKD 191.2 million in the previous year[15]. - The company's financial costs net value increased to HKD 76.4 million, up from HKD 30.3 million in the first half of 2021[21]. - The total finance costs for the six months ended June 30, 2022, were HKD 349,259,000, a decrease of 4.5% compared to HKD 367,073,000 for the same period in 2021[143]. Market Conditions and Future Outlook - The group anticipates ongoing pressure on its hotel business due to the pandemic, inflation, and geopolitical tensions, but expects recovery in overseas hotel operations as travel restrictions ease[62]. - The group plans to continue seeking acquisition opportunities, particularly in mid-sized hotels or related chains, during the current market downturn[62]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[135]. Corporate Governance - The company has a strong focus on corporate governance, with various committees including remuneration, audit, and nomination committees led by experienced directors[66]. - The company has a commitment to maintaining high standards of corporate governance, as evidenced by the roles of independent directors in key committees[66]. - The board of directors has been monitoring and reviewing corporate governance practices, ensuring compliance with most provisions of the corporate governance code[74]. Shareholder Structure - The company holds a 67.99% stake in the Crown Industrial Trust as of June 30, 2022[88]. - The company has a 69.53% ownership in Langham Hospitality Investments as of June 30, 2022[91]. - Dr. Lo Ka Shing holds 64,790,835 shares, representing 8.67% of the issued share capital[85].

Financial Performance - The core business after-tax profit for the fiscal year 2021 was approximately HKD 1,361 million[4]. - Core profit attributable to equity holders fell by 23.2% to HKD 1,360.6 million, down from HKD 1,771.9 million[21]. - Total revenue for the year was HKD 7,830.4 million, a decline of 24.0% compared to HKD 10,305.3 million in the previous year[21]. - Core business revenue decreased by 31.0% to HKD 5,696.9 million from HKD 8,261.9 million[21]. - Property sales revenue dropped significantly by 64.7% to HKD 1,802.0 million from HKD 5,107.9 million[21]. - The company declared a total annual dividend of HKD 1.33 per share, down from HKD 2.83 per share in the previous year[21]. - The total dividend for the fiscal year 2021 is expected to be HKD 1.33 per share, compared to HKD 2.83 per share for the fiscal year 2020[9]. - Total assets as of December 31, 2021, amounted to HKD 103,625 million, with total liabilities of HKD 34,815 million[22]. - The company holds a 67.76% interest in Champion REIT and a 69.39% interest in LHI as of December 31, 2021[3]. Hotel Operations - The hotel portfolio consists of 27 hotels with over 10,000 rooms globally, including 24 hotels in various major cities[3]. - Hotel segment revenue increased by 60.4% to HKD 2,085.7 million, up from HKD 1,300.1 million[21]. - The hotel division recorded an EBITDA loss of HKD 105.4 million, significantly reduced from a loss of HKD 625.8 million in the previous year, representing an improvement of HKD 520.4 million or 83.2%[25]. - The average occupancy rate for the London Langham Hotel improved to 22.8% from 19.0% in 2020[30]. - The total revenue for Hong Kong Langham Hotel increased by 52.3% year-on-year, excluding other income from government subsidies[48]. - The occupancy rate for Hong Kong Cordis Hotel improved to 36.0% in 2021 from 22.5% in 2020, with a 55.4% increase in food and beverage revenue[49]. - The total revenue for Hong Kong Cordis Hotel increased by 48.2% year-on-year, excluding other income from government subsidies[49]. - The total revenue for Hong Kong Eaton Hotel increased by 36.1% year-on-year, excluding other income from government subsidies[50]. Development Projects - Development projects include two premium residential projects in Hong Kong and several hotel development projects in the US, Japan, and Italy[3]. - The company successfully acquired a luxury residential development project in Ho Man Tin, Hong Kong, in February 2021[25]. - The residential development project in Ho Man Tin has a total gross floor area of approximately 742,000 square feet, with construction expected to commence in April 2022[55]. - The company acquired a hotel redevelopment site in Tokyo for 22.2 billion JPY, with a total floor area of approximately 380,000 square feet planned for a flagship hotel with 270 rooms[57]. - The Venice Murano Island hotel project, acquired for €32.5 million, will consist of 133 rooms and a total floor area of approximately 170,000 square feet, combining historical restoration with new construction[59]. Financial Position and Debt - As of December 31, 2021, the company's consolidated net debt was HKD 27.28 billion, an increase of HKD 5.45 billion from the previous year, primarily due to cash premiums paid for the Whampoa project[60]. - The company's leverage ratio as of December 31, 2021, was 34.0%, calculated based on the net debt attributable to shareholders[61]. - The total outstanding borrowings included floating rate borrowings of HKD 17,444 million (52.1%) and fixed rate borrowings of HKD 16,058 million (47.9%)[63]. - The group's cash, bank deposits, and unutilized confirmed credit totaled HKD 15,178 million as of December 31, 2021[64]. Sustainability and ESG Initiatives - The company aims to achieve net-zero emissions by 2045 as part of its long-term climate leadership strategy[74]. - The company reported a 24.9% decrease in energy consumption intensity compared to 2019[77]. - The company has established a comprehensive ESG policy framework to integrate sustainability into its operations[79]. - The company has implemented a governance structure that includes a board of directors overseeing overall sustainability trends[78]. - The company has developed a set of policies and procedures to guide the achievement of planned ESG outcomes[79]. - The hotel division achieved EarthCheck certification, with one hotel receiving Master certification for over 15 years of sustainability efforts, and six hotels obtaining Platinum certification (over 10 years)[93]. - The company has established an environmental management system (e.g., ISO 14001) to identify and mitigate significant environmental impacts, focusing on energy consumption, carbon emissions, and water usage[90]. - The company has not incurred any environmental fines during the year and complies with all relevant environmental laws and regulations[90]. Corporate Governance - The company emphasizes high standards of corporate governance to enhance its image and strengthen shareholder confidence[80]. - The company has established a policy to prevent fraud, bribery, and corruption, outlining minimum behavioral standards for all employees[186]. - The board consists of 15 members, including 7 executive directors, 3 non-executive directors, and 5 independent non-executive directors, ensuring a balanced representation for independent judgment[193]. - The company has a whistleblowing policy in place to protect whistleblowers and provide channels for reporting misconduct[189]. - The company has complied with most provisions of the corporate governance code during the year, with some deviations noted, particularly regarding the roles of the Chairman and CEO[190]. Community Engagement and Social Responsibility - The company continues to support the Music Children Foundation, promoting music education for underprivileged youth through the Eagle Music Children's Orchestra[149]. - The company participated in community service initiatives, including food packaging and support for families in need during the pandemic[155]. - The company established a strategic partnership with Green Monday to promote plant-based diets, aiming to alleviate climate change and food insecurity[153]. - The initiative includes the launch of Hong Kong's first vegetarian culinary academy, focusing on training professionals in plant-based cooking[153]. Employee Engagement and Development - The total employee turnover rate was 41%, with a notable increase in turnover among employees under 20 years old, rising from 112 to 131[123]. - In 2021, the average training hours per employee in the hotel division was 20 hours, an increase from 12 hours in 2020[137]. - The company has established a cross-departmental task force to coordinate pandemic prevention efforts and emergency response plans[127]. - The company organized health promotion activities, including yoga and Zumba classes, to enhance employee well-being[125].

Financial Performance - For the six months ended June 30, 2021, the core business revenue was HKD 2,563.8 million, representing a 53.9% increase from HKD 1,666.3 million in the same period of 2020[11]. - The core profit attributable to equity holders after tax was HKD 534.9 million, a significant increase of 502.4% compared to HKD 88.8 million in the previous year[11]. - The total revenue calculated under statutory accounting standards was HKD 3,569.3 million, a 31.0% increase from HKD 2,724.4 million in the prior year[11]. - The company reported an accounting loss attributable to equity holders of HKD 784.0 million, compared to a loss of HKD 6,512.8 million in the same period last year, indicating an improvement[11]. - Core profit after tax for the first half of 2021 reached HKD 535.0 million, a 496.4% increase compared to HKD 89.7 million in the same period of 2020[14]. - The total comprehensive loss for the period was HKD 955,156,000, significantly lower than HKD 9,820,434,000 in the same period last year, indicating a substantial improvement[134]. - The company reported a loss attributable to shareholders of HKD (783,974,000) for the six months ended June 30, 2021, compared to a loss of HKD (6,512,770,000) for the same period in 2020, indicating a significant improvement[184]. Revenue Sources - The revenue from property sales for the first half of 2021 was HKD 957.6 million, which was not applicable in the same period of 2020[14]. - The hotel business generated external revenue of HKD 1,002,590,000, while property investment and development contributed HKD 75,703,000 and HKD 957,622,000 respectively[169]. - Rental income from investment properties decreased to HKD 1,303,514, down 6.1% from HKD 1,388,705 in the previous year[154]. - The group’s total income from the US fund was HKD 34.0 million, down 30.9% from HKD 49.2 million in the same period of 2020[19]. - The company achieved a total of HKD 1,546,574,000 in revenue from Hong Kong, which was the largest contributor by region[162]. Assets and Liabilities - The total assets of the group as of June 30, 2021, amounted to HKD 101,897 million, with total liabilities of HKD 36,902 million, resulting in a net asset value of HKD 64,995 million[16]. - The company's consolidated net debt was HKD 29,454 million, an increase of HKD 7,625 million from December 31, 2020[66]. - The total liabilities increased to HKD 68,008,740,000, highlighting a growing debt burden[137]. - The company's equity attributable to shareholders increased from HKD 58,203,744 thousand as of December 31, 2020, to HKD 57,159,723 thousand as of June 30, 2021, showing a decrease of approximately 1.8%[136]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.33 per share, consistent with the previous year's interim dividend[7]. - The total dividends paid for the financial year ended December 31, 2020, amounted to HKD 720,792,000, with an interim dividend of HKD 241,243,000 declared for the six months ended June 30, 2021[181]. Operational Challenges - The hotel operations continue to be severely impacted by the COVID-19 pandemic, with no significant recovery expected for the remainder of 2021[73]. - The group temporarily closed some hotels due to the ongoing impact of the COVID-19 pandemic, affecting operational performance[143]. - The management anticipates rental income and distributions per fund unit for the Crown Industrial Trust to remain under pressure in 2021[73]. Strategic Developments - The company is developing two premium residential projects in Hong Kong and several projects in the United States, Japan, and Italy[2]. - The group successfully acquired a luxury residential project in Ho Man Tin, with a total floor area of approximately 742,000 square feet, enhancing its asset base[22]. - The company plans to focus on market expansion and new product development to drive future growth[137]. - The company is exploring strategic acquisitions to enhance its market position and operational capabilities[137]. Governance and Leadership - The company has appointed independent non-executive directors with extensive experience in various sectors, including finance and law, enhancing governance and oversight[81][82][83][84][85][87]. - The company has established a strong governance framework with various committees, including audit and remuneration, to ensure accountability and transparency[81][82][83][84][85][87]. - The company has a commitment to sustainability, which is seen as essential for improving the quality of life in local communities and globally[94]. Market Conditions - The geopolitical tensions between the US and China may further impact the economy and the company's operations in Hong Kong[76]. - The overall performance of overseas hotels was mixed, heavily influenced by varying COVID-19 restrictions across different countries[26]. - The company is in a relatively favorable position due to its strong balance sheet, allowing it to navigate the current economic challenges[76].