致：香港交易及結算所有限公司 公司名稱: 國浩集團有限公司 呈交日期: 2025年8月1日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00053 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 800,000,000 | USD | | 0.5 | USD | | 400,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 800,000,000 | USD | | 0.5 | USD | | 400,000,000 | 本月底法定/註冊股本總額： USD 400,000,000 第 1 頁 ...

Core Viewpoint - The company Suihengyun A (穗恒运Ａ) experienced a decline in stock price and significant net outflow of funds, while reporting mixed financial results for the first quarter of 2025, indicating potential challenges and opportunities in its operations [1]. Financial Performance - As of the first quarter of 2025, the company reported total operating revenue of 1.02 billion yuan, a year-on-year decrease of 7.79% [1] - The net profit attributable to shareholders was 97.46 million yuan, showing a substantial year-on-year increase of 210.36% [1] - The non-recurring net profit was 75.11 million yuan, reflecting a year-on-year growth of 151.37% [1] - The current ratio was 0.762, the quick ratio was 0.725, and the debt-to-asset ratio stood at 60.66% [1] Stock Market Activity - The stock closed at 6.15 yuan, down 3.91%, with a turnover rate of 1.13% [1] - The trading volume was 102,400 lots, with a total transaction value of 63.77 million yuan [1] - There was a net outflow of main funds amounting to 10.09 million yuan, accounting for 15.82% of the transaction value [1] - Large orders saw a net outflow of 6.83 million yuan, while small orders experienced a net inflow of 2.90 million yuan [1] Company Background - Guangzhou Hengyun Enterprise Group Co., Ltd. was established in 1992 and is primarily engaged in the production and supply of electricity and heat [2] - The company has a registered capital of 10.41 billion yuan and a paid-in capital of 3.97 billion yuan [1] - The legal representative of the company is Xu Hongseng [1]

Group 1 - The core point of the announcement is that Guohao Group's subsidiary GLS has entered into a joint venture agreement with Intrepid and China State Construction Real Estate to develop a property in Singapore, with a total investment of 675 million Singapore dollars [1][2] - The property, located at Tengah Garden Avenue, will cover an area of 25,458.4 square meters and is expected to provide approximately 860 residential units along with commercial space on the ground floor [1] - The joint venture structure allows GLS to participate in the project with a lower capital investment, retaining funds for other investment opportunities [2] Group 2 - The joint venture agreement specifies that GLS will hold a 20% stake, Intrepid will hold 60%, and China State Construction Real Estate will hold 20% [1] - The total contribution from GLS amounts to 51.376 million Singapore dollars, which includes 1.6 million Singapore dollars in equity and 49.7576 million Singapore dollars in shareholder loans [1] - The transaction is part of Guohao Real Estate Group's regular business operations in property development and investment across Singapore, mainland China, and Malaysia [2]

Financial Performance - The company reported an unaudited consolidated profit attributable to shareholders of HKD 1.7889 billion for the six months ended December 31, 2024, representing a 23% increase compared to the same period last year[10]. - Basic earnings per share increased to HKD 5.50, up from HKD 4.46 in the previous year[10]. - Total revenue for the six months rose by 2% to HKD 12.6 billion, driven by a HKD 700 million increase in the hotel and leisure segment[11]. - The overall pre-tax profit increased by 42% to HKD 2.5537 billion for the six months ended December 31, 2024[10]. - The board declared an interim dividend of HKD 0.60 per share, totaling approximately HKD 197 million, compared to HKD 0.50 per share and HKD 165 million in the previous year[12]. - The Clermont Hotel Group reported a profit after tax of GBP 31.3 million (approximately HKD 314.3 million) for the six months ended December 31, 2024, up from GBP 21.1 million (approximately HKD 207.1 million) in the same period last year[23]. - CHG's revenue increased by 10% to GBP 164.3 million (approximately HKD 1.6499 billion), with an average room occupancy rate of 88%[23]. - Rank Group's net gaming revenue grew by 11% to GBP 40.18 million (approximately HKD 403.5 million), with all business segments recording growth[26]. - The group reported a pre-tax profit of $328,905 thousand for the six months ended December 31, 2024, compared to $229,505 thousand for the same period in 2023, reflecting an increase of approximately 43.4%[86]. - The company reported a total comprehensive income of $323,285 thousand USD for the six months ended December 31, 2024, compared to $274,775 thousand for the previous period, reflecting an increase of approximately 17.6%[72]. Segment Performance - The pre-tax profit from the self-investment segment was HKD 894.2 million, while the property development and investment segment reported a pre-tax profit of HKD 105.9 million[10]. - The hotel and leisure segment's revenue growth was offset by a decrease of HKD 200 million in the self-investment segment and HKD 300 million in the property development and investment segment[11]. - Guoco Real Estate's revenue reached SGD 1.0101 billion (approximately HKD 5.9199 billion) for the six months ended December 31, 2024, driven by strong performance in property development and investment[16]. - Property development revenue contributed SGD 841.3 million (approximately HKD 4.9306 billion), a decrease of 8% compared to the same period last year, primarily due to timing of profit recognition and a 30% decline in sales in China[16]. - Investment property revenue increased by 19% to SGD 130.6 million (approximately HKD 765.4 million), mainly due to increased rental income from Guoco Tower and Guoco Midtown, with occupancy rates close to 100%[17]. - The revenue from property development and investment was $752,905 thousand, while hotel and leisure revenue reached $756,616 thousand for the six months ended December 31, 2024[86]. - The group generated $755,980 thousand in revenue from hotel and leisure operations, an increase from $667,009 thousand in the same period of 2023, representing a growth of approximately 13.3%[88]. Investment and Financial Strategy - The total investment amount in the self-investment segment was USD 1.893 billion as of December 31, 2024[14]. - The company focused on companies with strong fundamentals to mitigate short-term market volatility, resulting in a pre-tax profit of HKD 894.2 million from the self-investment segment[13]. - The group maintains a cautious investment strategy in response to market volatility, focusing on fundamental analysis for portfolio management decisions[42]. - The group plans to continue expanding its investment in property development and financial services to enhance revenue streams in the future[86]. Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended December 31, 2024, was $614.854 million, compared to $242.943 million in the same period last year, representing a significant increase[77]. - The net cash used in investing activities was $78.967 million, an improvement from a cash outflow of $102.038 million in the previous year[77]. - The net cash used in financing activities was $623.992 million, compared to a cash inflow of $48.609 million in the prior year, indicating a shift in financing strategy[77]. - The company’s cash flow from operating activities showed a year-over-year increase of approximately 153%[77]. - The company holds $1,263,679 thousand in listed trading financial assets as of December 31, 2024, compared to $1,232,723 thousand on June 30, 2024, indicating an increase of about 2.5%[112]. Shareholder Information - Major shareholder Guo Lingcan holds 242,008,117 shares and 40,272,716 derivative instruments, totaling 282,280,833 shares, representing approximately 85.79% of the issued share capital[58]. - GuoLine Capital Assets Limited, controlled by Guo Lingcan, holds 240,351,792 shares and 40,272,716 derivative instruments, totaling 280,624,508 shares, representing approximately 85.28% of the issued share capital[58]. - First Eagle Investment Management, LLC holds 26,238,046 shares, representing approximately 7.97% of the issued share capital[58]. - The company’s directors hold a total of 3,800,775 shares (1.16%) and 209,120 shares (0.06%) respectively[51]. Operational Challenges - The real estate market in China continues to face challenges, with a double-digit decline in sales and investment for the third consecutive year, indicating a need for improved economic sentiment for recovery[21]. - Rank anticipates facing inflation-related employment cost pressures in the second half of the fiscal year but remains confident in revenue enhancement and cost efficiency improvements[27]. - The company’s financial performance was impacted by increased operational expenses and a rise in loss provisions, which offset revenue growth[28]. Changes in Governance - The company’s board of directors has undergone changes, with Christian K. Nothhaft appointed as a non-executive director of The Rank Group Plc effective November 29, 2024[50].

Revenue and Profit Performance - Revenue for the six months ended December 31, 2024, was HKD 12,581.6 million, an increase of 2% compared to HKD 12,390.4 million in the same period of 2023[2] - Operating profit surged by 110% to HKD 2,095.3 million from HKD 996.7 million year-on-year[4] - Profit attributable to shareholders increased by 23% to HKD 1,788.9 million, compared to HKD 1,448.9 million in the previous year[4] - Earnings per share rose to HKD 5.50, reflecting a 23% increase from HKD 4.46[2] - Total comprehensive income for the period was HKD 2,510.1 million, up from HKD 2,301.0 million in the previous year[6] - The group reported a total operating profit of HKD 2,553,699 for the six months ended December 31, 2024, compared to HKD 1,792,768 for the same period in 2023, indicating an increase of approximately 42.6%[17] - Net profit before tax for the period was HKD 1,788,912,000, compared to HKD 1,448,885,000 in 2023, reflecting a growth of 23.5%[33] - The company reported a net gain from trading financial assets of HKD 416,055,000, compared to a loss of HKD 388,518,000 in 2023[21] Dividends and Shareholder Returns - The interim dividend per share was increased by 20% to HKD 0.60 from HKD 0.50[2] - The interim dividend declared was HKD 0.60 per share, an increase from HKD 0.50 per share in 2023, totaling HKD 197,429,000[30] - Basic earnings per share for the period were HKD 5.49, up from HKD 4.45 in 2023[33] - Basic earnings per share increased to HKD 5.50, up from HKD 4.46 in the previous year[41] Asset and Liability Management - Non-current assets totaled HKD 87,669.7 million, slightly down from HKD 88,292.6 million[8] - Current assets decreased to HKD 45,102.6 million from HKD 47,195.4 million[8] - Net current assets improved to HKD 29,746.7 million, compared to HKD 25,215.2 million[8] - Total equity increased to HKD 80,199.7 million from HKD 79,053.4 million[8] - Trade receivables as of December 31, 2024, amounted to HKD 1.0257 billion, a decrease from HKD 1.1979 billion as of June 30, 2024[35] - Trade payables as of December 31, 2024, totaled HKD 668.1 million, down from HKD 915.7 million as of June 30, 2024[37] Segment Performance - The operating profit before tax for the self-investment segment was HKD 894,154, while the property development and investment segment reported an operating profit of HKD 105,958, and the hotel and leisure segment reported HKD 765,306[17] - The revenue from the property development and investment segment was HKD 5,845,742, while the hotel and leisure segment generated HKD 5,874,556 in revenue[17] - The self-operated investment segment achieved a profit before tax of HKD 894.2 million, focusing on fundamentally strong companies to mitigate short-term market volatility[44] Market and Economic Outlook - The outlook for the second half of the fiscal year indicates a positive trend in the US economy, while emerging markets and Europe may face challenges[68] - The company remains cautiously optimistic about its core business's ability to seize opportunities for steady growth, driven by a commitment to long-term sustainability and operational improvement[68] Financial Costs and Investments - The financing costs for the group totaled HKD 1,121,826, which includes costs from various segments[17] - Financing costs for the same period were HKD 1,084,666,000, a decrease of 0.81% from HKD 1,094,876,000 in 2023[22] - The group had total bank loans and borrowings of HKD 34.3 billion, with a significant portion denominated in Singapore dollars (70%)[62] - As of December 31, 2024, approximately 77% of the group's bank loans and borrowings are at floating interest rates, while 23% are at fixed rates[64] - The total notional amount of outstanding foreign exchange contracts as of December 31, 2024, is HKD 2.7 billion, primarily used for hedging foreign currency risks[65] - The notional amount of outstanding interest rate contracts is HKD 200 million as of December 31, 2024[64] Corporate Governance and Compliance - The board has adopted a corporate governance code based on the principles of the Hong Kong Stock Exchange Listing Rules, and has complied with all applicable provisions during the period[70] - The unaudited interim results for the six months ending December 31, 2024, have been reviewed by the board and the risk management committee[71] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending December 31, 2024[69] Other Financial Highlights - The company recognized a foreseeable loss provision of HKD 244,574,000 for development properties, which was not present in the previous year[26] - Total tax expenses for the period amounted to HKD 420,279,000, significantly higher than HKD 189,771,000 in 2023[28] - GuocoLand's revenue reached SGD 1.0101 billion (approximately HKD 59.199 billion), driven by strong performance in property development and investment[45] - Property development revenue decreased by 8% to SGD 841.3 million (approximately HKD 49.306 billion), mainly due to timing of profit recognition and a decline in sales in China[45] - Investment property income increased by 19% to SGD 130.6 million (approximately HKD 7.654 billion), attributed to rising rental income from Guoco Tower and Guoco Midtown[46] - The Clermont Hotel Group recorded a post-tax profit of GBP 31.3 million (approximately HKD 314.3 million) for the six months ending December 31, 2024, compared to GBP 21.1 million (approximately HKD 207.1 million) in the same period in 2023[52] - Rank's net gaming revenue grew by 11% to GBP 401.8 million (approximately HKD 4.035 billion) for the six months ending December 31, 2024[54] - Digital business for Grosvenor and Mecca grew by 22% and 21% respectively, supported by newly launched applications[56]

Financial Performance - GuocoGroup reported a significant increase in revenue, achieving a total of HKD 10.5 billion for the fiscal year, representing a 15% year-over-year growth[5]. - The company reported a revenue of HKD 25,786 million for 2024, representing a 17% increase from HKD 22,023 million in 2023[25]. - Earnings for the year reached HKD 22,526 million, up 15% from HKD 19,508 million in the previous year[25]. - Operating profit surged by 71% to HKD 2,940 million, compared to HKD 1,719 million in 2023[25]. - Profit attributable to shareholders increased by 4% to HKD 3,581 million, up from HKD 3,400 million[25]. - Earnings per share rose to HKD 11.01, a 4% increase from HKD 10.58 in the prior year[25]. - The company reported a profit of USD 458,581 thousand for 2024, a slight increase from USD 438,974 thousand in 2023[26]. - The group recorded a pre-tax profit increase of 14% to 4.4155 billion HKD for the year ending June 30, 2024[69]. Dividends and Shareholder Returns - The company declared a final dividend of HKD 2.70 per share, pending approval at the upcoming annual general meeting[5]. - The proposed final dividend increased to HKD 2.70 per share, up from HKD 2.50, marking an 8% increase[25]. - The company aims to balance dividend distribution and retention of sufficient liquidity for operational needs and future growth opportunities[89]. - The board reviews the dividend policy regularly to ensure it aligns with the interests of the company and its shareholders[89]. Investment and Portfolio Management - GuocoGroup's investment portfolio includes a 66.8% stake in GuocoLand Limited, which operates in property development across Singapore, China, and Malaysia[6]. - The group aims to enhance its financial services segment, with a focus on expanding its banking operations in Vietnam and Cambodia[9]. - The company is actively pursuing new investment opportunities in the hospitality sector, particularly through its 56.2% stake in The Rank Group Plc[6]. - GuocoGroup's self-operated investments are designed to deliver balanced risk-adjusted returns and capital appreciation through global capital markets[15]. - The company is focusing on strategic actions to enhance its investment portfolio, including acquiring prime land in Singapore[32]. Risk Management - The company has implemented robust risk management systems to mitigate financial risks, including foreign exchange and liquidity risks[15]. - The group has established a risk management framework to continuously identify and assess risks, including environmental, social, and governance risks[107]. - The internal audit function adopts a risk-oriented approach, regularly auditing significant controls related to financial, operational, compliance, and risk management functions[107]. Corporate Governance - The board of directors oversees investment activities, ensuring alignment with the company's strategic objectives[15]. - The board is committed to maintaining high standards of corporate governance and has reviewed compliance with the Hong Kong Stock Exchange's corporate governance code[78]. - The board consists of a mix of executive, non-executive, and independent directors, ensuring diverse perspectives in decision-making[79]. - The company has established a whistleblowing policy to report misconduct, fraud, or violations, which is reviewed annually for effectiveness[90]. Human Resources and Diversity - The group is focused on enhancing human resources quality as a core aspect of excellent management[75]. - The company aims to achieve gender diversity on the board by having at least one female director by December 31, 2024[98]. - As of June 30, 2024, the group has approximately 10,850 employees, with a gender ratio of about 55% male and 45% female[98]. Market and Economic Conditions - Despite global uncertainties, Hong Kong's economy continues to grow steadily, supported by increased domestic demand, trade, and investment activities[34]. - The overall rental market in Singapore is expected to remain stable, with most corporate tenants opting to renew leases amid economic uncertainties[52]. - The company faces potential downward pressure on property prices due to the current economic slowdown and unclear macroeconomic outlook[186]. Strategic Initiatives - Future strategies include expanding digital channels and enhancing customer engagement through innovative offerings in the gaming industry[17]. - The group plans to integrate digital technology into its business strategy to maintain relevance and competitiveness in the evolving market[37]. - The group aims to create long-term sustainable growth and maximize shareholder value through business transformation and core business focus[73]. Charitable Contributions - The group made charitable donations totaling USD 1.79 million during the year, significantly up from USD 0.83 million in the previous year, indicating a 116.5% increase[125].

Financial Performance - The company's revenue for the fiscal year ending June 30, 2024, was HKD 25,786 million, representing a 17% increase from HKD 22,023 million in the previous year[2] - The profit attributable to shareholders increased by 4% to HKD 3,581 million, compared to HKD 3,440 million in the prior year[2] - Operating profit surged by 71% to HKD 2,940 million, up from HKD 1,719 million year-over-year[2] - Earnings per share rose to HKD 11.01, a 4% increase from HKD 10.58 in the previous year[2] - The total proposed dividend increased by 7% to HKD 3.20 per share, compared to HKD 3.00 in the previous year[2] - The company reported a total comprehensive income of HKD 2,401,129 thousand attributable to shareholders for the period[12] - The company recorded a consolidated profit attributable to shareholders of HKD 3.580943 billion for the fiscal year ending June 30, 2024, representing a 4% increase from HKD 3.439799 billion in the previous year[42] - Basic earnings per share increased to HKD 11.01, compared to HKD 10.58 in the previous year[42] - Total revenue for the fiscal year increased by 15% to HKD 22.5 billion, driven by a HKD 1.7 billion increase in revenue from the property development and investment segment due to strong sales of residential projects in Singapore[42] Assets and Liabilities - Non-current assets totaled HKD 88,292,614 thousand, up from HKD 85,084,465 thousand in the previous year[5] - The company's cash and cash equivalents increased to HKD 14,908,645 thousand from HKD 12,812,620 thousand year-over-year[5] - The net current assets decreased to HKD 25,215,189 thousand from HKD 32,100,174 thousand in the previous year[5] - Total assets less current liabilities amounted to HKD 113,507,803 thousand, down from HKD 117,184,639 thousand[5] - The company's net assets increased to HKD 79,053,442 thousand from HKD 77,509,246 thousand year-over-year[5] - The total equity of the company increased to HKD 77,509,246 thousand as of June 30, 2023, reflecting an increase of HKD 174,853 thousand[10] - The company’s net assets increased to HKD 77,509,246 thousand, up from HKD 75,328,335 thousand in the previous year[10] - Trade receivables increased to HKD 1.197902 billion, compared to HKD 742.712 million in the previous year[37] - Trade payables decreased to HKD 915.748 million from HKD 998.369 million in the previous year[39] Revenue Sources - Revenue from property sales amounted to HKD 8,796,385, while hotel and leisure revenue was HKD 7,495,753 for the year ended June 30, 2024[23] - The total operating profit for property development and investment was HKD 3,325,033, compared to HKD 2,344,055 in the previous year, showing a growth of about 41.9%[20] - The group’s share of profits from associates and joint ventures was HKD 1,450,842, a significant increase from the previous year's figure[18] - The company’s interest income for the year was HKD 683,267, compared to HKD 454,135 in the previous year, marking an increase of approximately 50.4%[21] - The group reported a net gain from trading financial assets of HKD 999,379 for the year, compared to HKD 689,388 in the previous year[24] Expenses and Provisions - Employee costs for 2024 reached HKD 3,695,265 thousand, an increase from HKD 2,816,298 thousand in 2023, reflecting a significant rise in salaries and benefits[26] - The financing costs for the year were HKD 2,263,499, up from HKD 1,545,753 in the previous year, reflecting an increase of approximately 46.3%[21] - The group reported a tax provision of HKD 748,609 thousand for the year ending June 30, 2024, compared to HKD 163,310 thousand in 2023[32] - A provision for foreseeable losses of HKD 847,562 thousand was made for properties under development, up from HKD 281,242 thousand in 2023[31] - The company recognized a foreseeable loss provision of SGD 103.8 million (approximately HKD 60.18 million) for its Chinese development properties due to uncertain market conditions[45] Tax and Regulatory Matters - The company expects to implement the OECD Pillar Two rules starting from January 1, 2025, which may affect its tax obligations in certain jurisdictions[9] - The company is currently assessing the potential risks associated with the implementation of the OECD Pillar Two tax rules[9] - The estimated tax rate for Hong Kong profits tax remains at 16.5% for both 2024 and 2023[32] Strategic Outlook - The company maintains a cautious outlook for the fiscal year 2024/2025 due to geopolitical challenges and economic uncertainties, while also seeking growth opportunities in evolving markets[59] - The company plans to continue expanding its investment in health products through Manuka Health New Zealand Limited, although specific financial targets were not disclosed[16] - The company’s investment strategy focuses on high-quality companies expected to create long-term shareholder value, despite short-term volatility due to macroeconomic factors[44] Corporate Governance - The board of directors includes key members such as the Executive Chairman and the CEO[62] - The annual general meeting is scheduled for November 13, 2024[62] - The company will suspend the registration of share transfers from November 8, 2024, to November 13, 2024[62] - The deadline for share transfer registration is set for November 7, 2024, at 4:30 PM[62] - A proposed final dividend distribution date is set for December 3, 2024, pending shareholder approval[62]

Financial Performance - The group recorded an unaudited consolidated profit attributable to shareholders of HKD 1.4489 billion for the six months ended December 31, 2023, representing a 13% increase compared to the same period last year[24]. - Basic earnings per share increased to HKD 4.46, up from HKD 3.95 in the previous year[24]. - Total revenue for the six months increased by 41% to HKD 13.2939 billion, driven by a 24% increase in revenue from property development and investment[24]. - The group's pre-tax profit rose 65% to HKD 1.7928 billion for the six months ended December 31, 2023[24]. - GuocoLand's revenue grew by 61% to SGD 1.0664 billion (approximately HKD 6.1993 billion) due to strong performance in property development and investment[27]. - The property development segment's revenue increased by 67% to SGD 918 million (approximately HKD 5.3366 billion), primarily from phased sales of high-end residential projects in Singapore[27]. - The group’s total investment in the self-operated investment segment amounted to USD 1.819 billion as of December 31, 2023[26]. - The group reported a revenue of $1,701,849 thousand for the six months ended December 31, 2023, representing a 40.6% increase from $1,209,479 thousand in the same period of 2022[57]. - The operating profit before financing costs was $267,752 thousand, up 86.9% from $143,215 thousand year-on-year[57]. - The net profit for the period was $205,211 thousand, an increase of 52.8% compared to $134,272 thousand in the previous year[58]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.50 per share, totaling approximately HKD 165 million, consistent with the previous year's interim dividend[25]. - The company declared an interim dividend of $21,062 thousand for the first half of 2023, slightly down from $21,099 thousand in 2022, indicating a decrease of about 0.2%[86]. Costs and Expenses - Financing costs rose by 87% to SGD 113.5 million (approximately HKD 659.8 million) due to capitalized interest expenses and a high-interest environment[27]. - The financing costs increased to $140,163 thousand from $81,708 thousand, indicating a rise of 71.5%[57]. - The company recognized impairment losses of $59,700 thousand on right-of-use assets, property, plant, and equipment, and intangible assets due to lower-than-expected performance post-pandemic[84]. - Employee benefits, including salaries and wages, rose to $205,848 thousand in the first half of 2023, up from $178,083 thousand in 2022, marking an increase of approximately 15.6%[82]. Market Conditions - Overall prices of non-landed private residential properties in Singapore increased by 6.6% in 2023, a slowdown from the 8.1% rise in 2022[28]. - Developers in Singapore sold 9.1% fewer new private residential units in 2023 compared to 2022, attributed to macroeconomic conditions and high interest rates[28]. - In Malaysia, economic growth for Q4 2023 and the full year is estimated at 3.4% and 3.8% respectively, lower than expected due to weak global demand[29]. Assets and Liabilities - As of December 31, 2023, the company's total equity attributable to shareholders was HKD 60.2 billion, with a net debt of HKD 16.9 billion, resulting in a debt-to-equity ratio of 22%[35]. - The group's cash and short-term funds totaled HKD 40.2 billion, primarily denominated in HKD (30%), USD (30%), and SGD (12%)[35]. - The company reported a net current asset position of $3,285,246 thousand, down from $4,096,500 thousand[59]. - The total liabilities decreased from $39,675,393 as of June 30, 2023, to $34,274,354 as of December 31, 2023, marking a reduction of approximately 13.7%[60]. - The company reported bank loans totaling $4,693,998 thousand as of December 31, 2023, compared to $4,224,391 thousand as of June 30, 2023, indicating an increase of approximately 11.1%[97]. Shareholder Structure - Guo Linghai holds 2,300,000 shares, representing approximately 0.95% of the total issued shares[49]. - Guo Lingcan controls 242,008,117 shares, which accounts for 76.06% of the total issued shares[53]. - The company has a significant concentration of ownership, with major shareholders holding over 75% of the total issued shares[53]. - The company’s major shareholders include multiple entities with overlapping interests, indicating a complex ownership structure[56]. Cash Flow - The net cash generated from operating activities for the six months ended December 31, 2023, was $242.943 million, a decrease from $742.499 million in the same period last year[63]. - The net cash used in investing activities was $(102.038) million, compared to $(114.589) million in the previous year[63]. - The total cash and cash equivalents increased by $189.514 million, compared to an increase of $126.721 million in the previous year[63]. Financial Outlook - The financial outlook for 2024 anticipates a loosening of U.S. monetary policy, with GDP growth expected to slow compared to 2023[37]. - The group will focus on key fundamentals in managing its investment portfolio amidst short-term uncertainties while pursuing long-term sustainable growth strategies[37]. Other Financial Metrics - The total comprehensive income for the period was $294,572 thousand, significantly higher than $126,241 thousand in the prior year[58]. - The company recognized a fair value loss of $69,044 on equity investments during the reporting period[61]. - The company reported a foreign exchange gain of $100,103 from overseas subsidiaries, joint ventures, and associates during the period[61].

Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 13,294 million, representing a 41% increase compared to HKD 9,431 million in the same period of 2022[2] - Profit attributable to shareholders for the same period was HKD 1,449 million, up 13% from HKD 1,284 million year-on-year[2] - Basic earnings per share increased to HKD 4.46, a 13% rise from HKD 3.95 in the previous year[2] - Total comprehensive income for the period was HKD 2,301 million, compared to HKD 984 million in the prior year, reflecting a significant increase[5] - The company reported a net profit attributable to shareholders of HKD 1,448,885,000 for the six months ended December 31, 2023, compared to HKD 1,283,915,000 for the same period in 2022, representing an increase of approximately 12.9%[32] - The basic earnings per share for the period was HKD 4.45, up from HKD 3.95 in the previous year, reflecting a growth of 12.7%[32] - The group reported a net profit of HKD 1,283,915 thousand for the period, reflecting an increase compared to the previous period[13] - The group's share of profits from associates and joint ventures was HKD 607,690 thousand, showing an increase of HKD 12,398 thousand[12] - The total comprehensive income for the period was HKD 984,390 thousand, with a significant contribution from foreign exchange differences amounting to HKD 516,481 thousand[14] Assets and Liabilities - Non-current assets as of December 31, 2023, amounted to HKD 87,164 million, up from HKD 85,063 million as of June 30, 2023[6] - Current liabilities increased to HKD 50,115 million from HKD 47,714 million, indicating a rise in short-term obligations[7] - Net current assets decreased to HKD 25,663 million from HKD 32,100 million, showing a reduction in liquidity[7] - The total equity attributable to shareholders was HKD 60,186 million, slightly up from HKD 59,492 million[7] - The group's total equity increased to HKD 77,487,759 thousand as of June 30, 2023, compared to HKD 75,459,159 thousand as of June 30, 2022[11] - The group’s retained earnings increased to HKD 69,911,985 thousand, up from HKD 67,529,602 thousand in the previous year[11] - The group’s net assets attributable to shareholders rose to HKD 59,491,609 thousand, compared to HKD 57,848,418 thousand in the previous year[11] - Total trade receivables increased to HKD 852,917,000 as of December 31, 2023, from HKD 742,712,000 as of June 30, 2023, marking a rise of 14.9%[34] - Trade payables increased to HKD 1,093,767,000 as of December 31, 2023, from HKD 998,369,000 as of June 30, 2023, representing a growth of 9.5%[36] - The company’s total assets increased to HKD 5,594,318,000 as of December 31, 2023, compared to HKD 5,022,680,000 as of June 30, 2023, indicating a growth of 11.4%[36] Dividends and Shareholder Information - The company maintained an interim dividend of HKD 0.50 per share, consistent with the previous year[2] - The company declared an interim dividend of HKD 0.50 per share, totaling approximately HKD 164,525,000, consistent with the previous year's interim dividend[30] - The company will suspend the registration of share transfers on March 12, 2024[57] - To qualify for the interim dividend, all share transfer documents must be submitted by March 11, 2024, at 4:30 PM[57] - The address for share registration is 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong[57] Operational Highlights - The operating profit before tax for the period was HKD 2,132,987, with a breakdown of HKD 361,670 from self-investment, HKD 994,265 from property development and investment, and HKD 632,017 from hotel and leisure[20][22] - Employee costs totaled HKD 1,607,971 for the current period, compared to HKD 1,388,637 in the previous year, reflecting an increase of about 16%[26] - The revenue from property sales was HKD 5,338,970, while hotel and leisure revenue was HKD 3,091,726, contributing significantly to the overall revenue[23] - The company plans to continue expanding its market presence in Singapore, China, Malaysia, and Hong Kong through property development and investment initiatives[19] - The company is focused on enhancing its financial services segment, which includes commercial and retail banking, Islamic banking, and insurance services[19] - Future outlook includes ongoing investments in new technologies and products to drive growth and market expansion[19] Financial Challenges - The finance costs for the six months ended December 31, 2023, amounted to HKD 1,136,331, an increase from HKD 663,724 in the previous year, indicating a rise of approximately 71%[22][25] - The group reported a net loss from trading financial assets of HKD (388,518) for the current period, compared to a loss of HKD (347,161) in the previous year[24] - The impairment losses recognized for right-of-use assets amounted to HKD 465,468,000, while impairment losses for other property, plant, and equipment were HKD 216,488,000, reflecting the impact of COVID-19 on performance[28] - The company’s total tax expense for the period was HKD 189,771,000, compared to HKD 40,291,000 in the previous year, showing a substantial increase due to higher profits[29] Corporate Governance - The board of directors includes Mr. Guo Linghai as Executive Chairman and Mr. Zhou Xiangan as Executive Director[57] - Independent non-executive directors include Mr. David M. Norman, Mr. Huang Jiachun, and Mr. Paul J. Brough[57]

Financial Performance - Revenue for 2023 reached HKD 22,023 million, a 40% increase from HKD 15,758 million in 2022[30]. - Profit attributable to shareholders increased by 73% to HKD 3,400 million from HKD 1,960 million[30]. - Earnings per share rose by 73% to HKD 10.46 compared to HKD 6.03 in the previous year[30]. - Operating profit for 2023 was HKD 1,719 million, up 49% from HKD 1,153 million in 2022[30]. - Total revenue growth of 31% was reported, with earnings reaching HKD 19,508 million compared to HKD 14,905 million in 2022[30]. - The company reported a 73% year-on-year increase in consolidated profit attributable to shareholders, reaching HKD 3.400 billion for the fiscal year 2023[35]. - The company’s total assets for 2023 were reported at HKD 132.624 billion, with total liabilities of HKD 55.290 billion[32]. - The company’s total equity attributable to shareholders for 2023 was HKD 59.338 billion, reflecting a stable financial position[32]. Dividends - GuocoGroup reported a proposed final dividend of HKD 2.50 per share, subject to shareholder approval at the annual general meeting on November 16, 2023[6]. - Proposed final dividend increased to HKD 2.50 from HKD 1.50, resulting in a total dividend of HKD 3.00, a 50% increase[30]. - The company reported a mid-term dividend of HKD 0.50 per share, totaling HKD 162,331,000, consistent with the previous year[133]. Business Segments - The company operates in four core business segments: proprietary investment, property development and investment, hotel and leisure business, and financial services[21]. - GuocoGroup's subsidiaries and investment operations are primarily located in Hong Kong, China, Singapore, Malaysia, the UK, and Australasia[21]. - The company holds a 100% stake in GuocoLand Limited, which is involved in property development and investment across multiple regions[8]. - GuocoGroup has a 53.3% stake in The Rank Group Plc, which operates in the hotel and leisure sector[8]. - The company has a 19.8% stake in Chengdu Bank Co., Ltd., enhancing its financial services portfolio[11]. - GuocoGroup's financial services include 100% ownership of Hong Leong Bank Vietnam Limited and Hong Leong Bank (Cambodia) Plc.[10]. Investment Strategy - The company has a diversified investment strategy across various sectors and regions, aiming for growth and expansion[21]. - The group aims to achieve substantial risk-adjusted returns and capital appreciation through investments in global capital markets and direct investments[22]. - The property investment portfolio includes significant assets in Singapore, China, and Malaysia, with notable projects like Guoco Tower and Damansara City[22]. - The group has a robust risk management system supported by advanced information systems and technology[22]. - The company focuses on creating unique mixed-use developments and high-quality residential properties to enhance local communities[22]. Employee and Governance - The group has a total of 10,500 employees, with ongoing training programs to enhance employee capabilities and quality[76]. - The board consists of an executive chairman, executive directors, non-executive directors, and independent non-executive directors, ensuring a diverse and independent governance structure[86][87]. - The board is committed to maintaining high standards of corporate governance and has reviewed compliance with applicable corporate governance codes as of June 30, 2023[85]. - The company has implemented a whistleblowing policy to address misconduct, fraud, or violations, which is reviewed annually for effectiveness[97]. Risk Management - The company has implemented a corporate risk management framework to continuously identify risks, including environmental, social, and governance risks, and assess their potential impact and occurrence probability[115]. - The audit committee monitors the effectiveness of the risk management and internal control systems on a quarterly basis[115]. - The group maintains a cautious approach in its treasury department, controlling interest expenses and foreign exchange risks despite market volatility[49]. Market Outlook - The global economic outlook remains uncertain, but the group is cautiously optimistic about future growth, focusing on risk management and cash flow control[47]. - The economic environment in the UK continues to exert pressure on hotel room rates and occupancy levels, as well as on the earnings multiples of casinos[185]. Corporate Social Responsibility - Charitable donations for the year amounted to $828,000, an increase from $620,000 in 2022[134]. - The company aims to integrate environmental, social, and governance (ESG) considerations into its operations and decision-making processes[83]. Audit and Compliance - The independent auditor has issued an unqualified opinion on the group's continuous related party transactions, confirming compliance with the Hong Kong Listing Rules[177]. - The audit report is signed by the audit partner, ensuring accountability for the audit opinion provided[196]. - The auditor evaluates the appropriateness of accounting policies adopted by the board and the reasonableness of accounting estimates and related disclosures[195].