ST东时违法事实包括2021年未按规定披露关联交易、2023年未按规定披露关联方非经营性资金占用导 致的关联交易，且在相关年度报告中存在重大遗漏。根据《行政处罚决定书》，公司被责令改正，给予 警告，并处以500万元罚款。 又见A股公司及实控人被查。 5月30日晚间，*ST京蓝（000711）、ST东时（603377）发布公告，公司收到中国证监会立案告知书， 因涉嫌信息披露违法违规，中国证监会决定对公司立案。 同日，另一家上市公司*ST天喻（300205）公告称，公司实际控制人之一闫春雨等人涉嫌挪用资金案， 符合刑事案件立案标准，已被武汉市公安局立案侦查。 三家公司均表示，前述事项不会对日常生产经营产生重大影响，后续将配合相关部门调查并关注事项进 展，严格按照相关要求履行信披义务。 两家上市公司被立案调查 对于涉嫌信披违规的具体事项，*ST京蓝、ST东时均未在公告中明确。 证券时报.e公司记者关注到，这并非*ST京蓝、ST东时首次被中国证监会立案调查。2023年7月，*ST京 蓝曾因涉嫌信息披露违法违规被立案，并在2023年11月收到《行政处罚决定书》；ST东时则在2023年 12月因涉嫌信披违规被立案调查，并 ...

Financial Performance - The group's total revenue for 2024 was HKD 2,858 million, an increase of 12.0% compared to HKD 2,552 million in 2023[15] - Basic earnings attributable to shareholders rose by 1.2% to HKD 831 million in 2024, compared to HKD 821 million in 2023[10] - Basic earnings per share for 2024 was HKD 1.20, slightly up from HKD 1.19 in 2023[12] - The group received certifications for its hotels as Muslim-friendly, enhancing its competitive position in the market[19] - The hotel and serviced apartment business reported total revenue of HKD 597.4 million, an increase of 2.7% compared to HKD 581.9 million in the same period last year[28] - EBITDA for the hotel and serviced apartment business was HKD 139.9 million, a decrease of 8.8% from HKD 153.5 million in the previous year[28] - The group's food and beverage revenue increased by 3.9% to HKD 290.4 million, while EBITDA dropped by 62.4% to HKD 11.3 million[39] - The tourism business recorded a revenue of HKD 1.1794 billion, with EBITDA rising by 118.4% to HKD 102 million, marking a significant recovery from the previous year[43] - Rental income for the group was HKD 791.3 million, with an EBITDA of HKD 663.9 million, reflecting a slight decrease of 0.5% and 0.9% compared to the previous year[32] Tourism and Hospitality - The tourism segment saw a significant revenue increase of 31.6% year-on-year, contributing to the overall growth[19] - The average occupancy rates for The Mira Hong Kong and Moon Hotel exceeded 92% and 95% respectively, reflecting strong performance in the hotel sector[19] - The Mira Hong Kong and Moontide Hotel's occupancy rates increased to 92.1% and 95.4% respectively in 2024, compared to 89.8% and 95.0% in 2023; average room rates reached HKD 1,416 and HKD 1,636[30] - The group anticipates continued growth in the tourism sector due to increased airline capacity and rising outbound travel demand[44] Investment and Financial Strategy - As of December 31, 2024, the group's total cash was HKD 6 billion, an increase from HKD 5.6 billion on December 31, 2023, with no loans reported[47] - The total credit facilities granted to the group remained at HKD 900 million as of December 31, 2024, with no utilization reported[47] - The group's debt-to-equity ratio remained at zero, indicating a strong financial position with sufficient funds and credit facilities to navigate uncertain economic conditions[47] - The group continues to seek investment opportunities and increase financial asset investments, focusing on long-term holdings[47] - The group capitalized on the trend of U.S. interest rate cuts and the rise of the mainland stock market, achieving over HKD 60 million in profits from securities investments during the year[47] Sustainability and Environmental Initiatives - The group follows the ESG reporting principles of "materiality," "quantification," "balance," and "consistency" as per the Hong Kong Stock Exchange guidelines[70] - The company is implementing energy optimization measures, including upgrading lighting efficiency and integrating sustainable design principles into building projects[82] - A commitment to carbon neutrality has been established through participation in the "Starry Partnership" program, demonstrating the company's dedication to reducing its carbon footprint[83] - The group has established a "Mi Go Green" collaborative platform to promote sustainable living and reduce meat consumption, aiming for a greener lifestyle[113] - The "Mi Green Park" initiative, launched in collaboration with CLP Power, features 25 electric vehicle charging stations, including 7 kW AC and 120 kW DC fast charging options, contributing to reduced carbon emissions[114] - The company implemented energy-saving measures, reducing electricity consumption by over 9 million kWh[133] - The lighting system upgrades saved over 80% of electricity in certain areas, contributing to a "good" energy performance rating[134] Community Engagement and Social Responsibility - The group actively supports community development through the "Mira Care" platform, engaging in social services and charitable activities[143] - The group partnered with the Hong Kong Children’s Rescue Association to promote sustainable development through a special event for underprivileged families[153] - The group is committed to fostering young talent by providing internship opportunities at The Mira Hong Kong for students from the Hong Kong Student Aid Society[166] - The group has organized hotel tours and employment seminars for 43 secondary school students in 2024, aimed at increasing awareness of the hotel industry[186] - The group has collaborated with local organizations to host a "Minority Recruitment Day," providing employment opportunities for ethnic minorities[182] Employee Training and Safety - Over 18,000 hours of training provided to employees, both online and offline[67] - The company recorded 30 workplace accidents in the reporting year, a decrease of 14 incidents (32% drop) compared to 2023, resulting in a total of 639.5 lost workdays[198] - The total injury rate significantly decreased by 35% to 1.88% over the reporting period[198] - The company established an Occupational Safety and Health Committee in 2023, comprising senior management and representatives from all relevant business units[198] - The company emphasizes equal opportunity in hiring practices, ensuring that applicants are not required to disclose unrelated personal information[195]

Financial Performance - The group's revenue increased by 12% to HKD 2.858 billion, compared to HKD 2.552 billion in 2023[6] - Shareholders' attributable profit decreased by 23.6% to approximately HKD 746.6 million, down from HKD 977.1 million in 2023[6] - Basic attributable profit rose by 1.2% to HKD 830.5 million, compared to HKD 820.5 million in 2023[6] - The group's revenue for the year ended December 31, 2024, was HKD 2,858,424,000, representing an increase of 11.97% compared to HKD 2,552,594,000 in 2023[38] - Gross profit for the year was HKD 997,687,000, up from HKD 966,481,000 in the previous year, indicating a growth of 3.67%[38] - The net profit attributable to shareholders decreased to HKD 746,557,000 in 2024 from HKD 977,136,000 in 2023, reflecting a decline of 23.58%[40] - Basic and diluted earnings per share for the year were HKD 1.08, down from HKD 1.41 in 2023, a decrease of 23.4%[40] - Adjusted EBITDA for the group in 2024 was HKD 918,002,000, compared to HKD 899,757,000 in 2023, reflecting a slight increase of about 2.3%[54] - The group reported a pre-tax profit of HKD 922,522,000 in 2024, down from HKD 1,128,145,000 in 2023, indicating a decrease of about 18.2%[61] Revenue Segmentation - The travel segment's revenue surged by 31.6% year-on-year, reflecting strong performance[8] - Total revenue for the hotel and serviced apartment business was HKD 597.4 million, a 2.7% increase from HKD 581.9 million in the previous year[22] - The tourism business reported revenue of HKD 1,179,404,000 in 2024, significantly up from HKD 896,080,000 in 2023, which is an increase of approximately 31.6%[55] - Restaurant revenue for the year reached HKD 290.4 million, representing a 3.9% increase from HKD 279.4 million in the previous year, while EBITDA decreased by 62.4% to HKD 11.3 million[30] Occupancy and Room Rates - The average occupancy rates for The Mira Hong Kong and the Mira Moon Hotel exceeded 92% and 95%, respectively[11] - The occupancy rates for The Mira Hong Kong and Moonlight Hotel increased to 92.1% and 95.4% respectively in 2024, compared to 89.8% and 95.0% in 2023[23] - Average room rates reached HKD 1,416 for The Mira Hong Kong and HKD 1,636 for Moonlight Hotel[23] Investment and Development Plans - The group plans to develop a new hotel and retail complex, including a 23-story hotel with 99 guest rooms, enhancing its market presence[13] - The total retail area of the new hotel and retail complex is expected to increase by over 50%, enhancing the overall retail space to approximately 530,000 square feet[15] - The group aims to attract more high-end customers and enhance hotel average room rates through the new hotel and retail complex, pending shareholder approval[15] - The group is actively seeking investment opportunities to increase financial asset investments, focusing on long-term holdings[35] Financial Health and Policies - The group has a total cash balance of HKD 6 billion as of December 31, 2024, an increase from HKD 5.6 billion in the previous year, with no loans outstanding[35] - The group maintained a healthy financial policy with sufficient funds and credit lines to navigate uncertain economic conditions[36] - The group plans to seize investment opportunities in securities and bonds while pursuing business development plans that meet investment efficiency requirements[36] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules for the year ending December 31, 2024[93] - The audit committee reviewed the financial performance for the year ending December 31, 2024, discussing matters related to auditing, internal controls, and financial reporting[94] - All directors complied with the standards set forth in the "Standard Code for Securities Transactions by Directors of Listed Issuers" for the year ending December 31, 2024[98] Employee and Operational Efficiency - The company has a total of 1,342 full-time employees as of December 31, 2024, with 1,311 employed in Hong Kong, 18 in the People's Republic of China, and 13 overseas[90] - The group launched a new self-service ordering system in some restaurants to enhance operational efficiency and reduce reliance on human resources[31] - The group plans to implement cost control measures, including establishing an office in Shenzhen to reduce operational costs[16] Dividends and Shareholder Returns - The proposed final dividend is HKD 0.30 per share, maintaining the same level as in 2023, with a total annual dividend of HKD 0.53 per share[9] - The company declared an interim dividend of HKD 0.23 per share, maintaining the same level as in 2023, and proposed a final dividend of HKD 0.30 per share[64] - The proposed final dividend is expected to be distributed to shareholders on July 10, 2025, if approved at the Annual General Meeting[89]

Revenue Growth and Financial Performance - Group revenue increased by 22.7% to HKD 1.401 billion compared to HKD 1.142 billion in the same period last year[4] - Net profit for the period rose slightly by 1.8% to HKD 400 million, compared to HKD 393 million in 2023[4] - Basic profit attributable to shareholders decreased by 0.5% to HKD 398 million after deducting a fair value loss of HKD 17.8 million on investment properties[4] - Total revenue for H1 2024 was HKD 1.4 billion, a 22.7% increase from HKD 1.14 billion in H1 2023[18] - Gross profit for H1 2024 was HKD 490.1 million, up from HKD 461.0 million in H1 2023[18] - Profit before tax for H1 2024 was HKD 465.0 million, compared to HKD 453.7 million in H1 2023[18] - Net profit attributable to shareholders for H1 2024 was HKD 373.1 million, slightly down from HKD 380.1 million in H1 2023[18] - Basic and diluted earnings per share for H1 2024 were HKD 0.54, compared to HKD 0.55 in H1 2023[18] - Net profit for the six months ended June 30, 2024, was HK$400.48 million, compared to HK$393.22 million in the same period in 2023[20] - Total comprehensive income for the six months ended June 30, 2024, was HK$414.10 million, up from HK$291.99 million in the same period in 2023[20] - Net profit for the six months ended June 30, 2024, was HKD 373.11 million, compared to HKD 380.13 million in the same period in 2023[23] - Total comprehensive income for the six months ended June 30, 2024, was HKD 391.03 million, a decrease from HKD 287.06 million in the same period in 2023[23] - Total revenue for the six months ended June 30, 2024, was HKD 1,400,837,000, compared to HKD 1,142,095,000 for the same period in 2023, representing a 22.6% increase[31][32] - Adjusted EBITDA for the six months ended June 30, 2024, was HKD 455,891,000, compared to HKD 440,861,000 in 2023, a 3.4% increase[31][32] - Comprehensive profit before tax for the six months ended June 30, 2024, was HKD 465,023,000, compared to HKD 453,698,000 in 2023, a 2.5% increase[31][32] - Pre-tax profit for the six months ended June 30, 2024 was HKD 284,933 thousand, compared to HKD 245,947 thousand in the same period in 2023[35] Business Segment Performance - The Mira Hong Kong and Moon Hotel achieved occupancy rates exceeding 90% during the period[7] - Rental business revenue increased slightly to HKD 401.2 million despite a challenging business environment[7] - Catering business revenue increased by 34% year-on-year, with holiday food sales reaching a record high[8] - Tourism business revenue surged by 66% year-on-year, driven by diversified travel experiences and partnerships with major brands[8] - The Mira Hong Kong and Moonscape Hotel achieved occupancy rates of 91.6% and 94.6% respectively, with average room rates increasing by 8.3% and 2.8%[11] - Hotel and serviced apartment business revenue grew by 11.1% to HKD 296.9 million, with EBITDA increasing by 15.1% to HKD 75.4 million[11] - Rental business revenue remained stable at HKD 401.2 million, with EBITDA at HKD 340.4 million[12] - The company's catering business revenue increased by 3.0% YoY to HKD 142.8 million, with a strong 34% growth in festive food sales to HKD 16.6 million[14] - The travel business revenue surged by 66.0% YoY to HKD 560 million, with EBITDA increasing by 283.2% to HKD 40.1 million[15] - Revenue from the rental business increased to HKD 401,156,000 in 2024 from HKD 398,948,000 in 2023, a 0.6% increase[31][32] - Hotel and serviced apartment business revenue rose to HKD 296,913,000 in 2024 from HKD 267,162,000 in 2023, an 11.1% increase[31][32] - Revenue from the catering business increased to HKD 142,787,000 in 2024 from HKD 138,607,000 in 2023, a 3.0% increase[31][32] - Tourism business revenue surged to HKD 559,981,000 in 2024 from HKD 337,378,000 in 2023, a 66.0% increase[31][32] - Rental business adjusted EBITDA was HKD 340,418,000 in 2024, a slight decrease from HKD 348,979,000 in 2023[31][32] - Hotel and serviced apartment business adjusted EBITDA increased to HKD 75,392,000 in 2024 from HKD 65,510,000 in 2023, a 15.1% increase[31][32] - Tourism business adjusted EBITDA rose significantly to HKD 40,102,000 in 2024 from HKD 10,464,000 in 2023, a 283.3% increase[31][32] Strategic Initiatives and Market Expansion - The company focused on expanding its market share among mainland tourists, particularly along high-speed rail routes[7] - The rental business adjusted its office leasing portfolio to mitigate operational risks and increased the proportion of semi-retail tenants[7] - The company actively organized themed cultural markets and introduced unique brands to attract foot traffic to its malls[7] - The company collaborated with local government and organizations to host large-scale regional events, boosting foot traffic and consumption in the Tsim Sha Tsui area[7] - The company plans to enhance hotel facilities and improve transportation connectivity in the Tsim Sha Tsui area to boost occupancy rates and room prices[9] - The company expects the Hong Kong economy to benefit from potential US interest rate cuts and new measures to attract mainland tourists, including the "Individual Visit Scheme" expansion and the Shenzhen-Zhongshan Bridge[9] - The company will continue to strengthen e-commerce development and diversify its catering and tenant mix to enhance market share and customer experience[9] - The company has adjusted its leasing strategy to reduce operational risks, including diversifying tenant industries and splitting large office spaces into smaller units[12] - The company organized various promotional activities, such as the "Tsim Sha Tsui Night Vibrancy" event, to stimulate regional economy and increase foot traffic at Mira Mall[12] Financial Position and Cash Flow - The fair value of the company's investment properties decreased by HKD 17.8 million, with the total fair value standing at HKD 15.1 billion as of June 30, 2024[13] - The company's overall effective annual interest rate for fixed deposits reached 4.9% in H1 2024, with total cash of HKD 5.8 billion and no loans[17] - Investment properties decreased to HK$15.09 billion as of June 30, 2024, from HK$15.31 billion as of December 31, 2023[21] - Cash and bank balances increased to HK$5.79 billion as of June 30, 2024, from HK$5.57 billion as of December 31, 2023[21] - Total assets minus current liabilities stood at HK$21.44 billion as of June 30, 2024, compared to HK$21.23 billion as of December 31, 2023[21] - Non-current liabilities decreased to HK$577.70 million as of June 30, 2024, from HK$557.33 million as of December 31, 2023[22] - Equity attributable to the company's shareholders increased to HK$20.67 billion as of June 30, 2024, from HK$20.49 billion as of December 31, 2023[22] - Non-controlling interests increased to HK$189.80 million as of June 30, 2024, from HK$186.53 million as of December 31, 2023[22] - Cash generated from operating activities for the six months ended June 30, 2024, was HKD 465.48 million, down from HKD 532.77 million in the same period in 2023[25] - Cash used in investing activities for the six months ended June 30, 2024, was HKD 2.90 billion, a decrease from HKD 3.67 billion in the same period in 2023[25] - Cash and cash equivalents as of June 30, 2024, were HKD 510.04 million, compared to HKD 865.43 million as of June 30, 2023[25] - Total equity as of June 30, 2024, was HKD 20.86 billion, up from HKD 20.21 billion as of June 30, 2023[23] - Retained earnings as of June 30, 2024, were HKD 18.24 billion, compared to HKD 17.63 billion as of June 30, 2023[23] - Dividends paid to non-controlling interests for the six months ended June 30, 2024, were HKD 19.80 million, up from HKD 2.58 million in the same period in 2023[23] - Proceeds from the sale of investment properties for the six months ended June 30, 2024, were HKD 190.05 million, compared to none in the same period in 2023[25] - Interest received for the six months ended June 30, 2024, was HKD 146.38 million, up from HKD 127.49 million in the same period in 2023[25] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.23 per share, payable on October 14, 2024[5] - The company declared an interim dividend of HKD 0.23 per share for the six months ended June 30, 2024, totaling HKD 158,921 thousand[40] - Basic and diluted earnings per share for the six months ended June 30, 2024 were HKD 0.6, based on a profit attributable to shareholders of HKD 373,111 thousand and 690,959,695 shares issued[42][44] Operational Expenses and Costs - Operating and other expenses rose by HKD 31.3 million (32.8%) YoY, but the increase was lower than the revenue growth rate[16] - Employee compensation and benefits for the six months ended June 30, 2024 totaled HKD 284,933 thousand, including HKD 273,398 thousand in salaries, wages, and other benefits, and HKD 11,535 thousand in defined contribution retirement plan contributions[35] - Tax expense for the six months ended June 30, 2024 was HKD 64,545 thousand, including HKD 55,320 thousand in current tax and HKD 9,225 thousand in deferred tax[38] Investment Properties and Fair Value Adjustments - The fair value of investment properties decreased by HKD 17,843 thousand in the six months ended June 30, 2024, compared to a decrease of HKD 17,100 thousand in the same period in 2023[45] - The company added HKD 61,067 thousand in right-of-use assets in the six months ended June 30, 2024, compared to HKD 9,179 thousand in the same period in 2023[46] - Total lease payments for operating stores in the six months ended June 30, 2024 were HKD 773 thousand, including HKD 21 thousand in fixed payments and HKD 752 thousand in variable payments[48] Accounts Receivable and Payable - Accounts receivable (net of impairment) as of June 30, 2024 were HKD 97,591 thousand, with HKD 47,407 thousand due within one month, HKD 10,058 thousand due within one to two months, and HKD 40,126 thousand due over two months[49] - Accounts receivable and other receivables expected to be collected within one year, except for HKD 12,988,000 (as of December 31, 2023: HKD 9,527,000) expected to be collected after more than one year[50] - Accounts payable and other payables as of June 30, 2024, include HKD 95,568,000 in accounts payable and HKD 254,767,000 in other payables and accrued expenses[51] - Total accounts payable and other payables as of June 30, 2024, amounted to HKD 632,421,000, compared to HKD 469,564,000 as of December 31, 2023[51] Share Capital and Ownership - Issued and fully paid share capital remained unchanged at HKD 2,227,024,000 as of June 30, 2024, and December 31, 2023[53] - Li Ka-shing holds 345,999,980 shares, representing 50.08% of the total issued shares of Miramar Hotel and Investment Company[70] - Li Ka-shing holds 100% of the ordinary A shares and non-voting B shares of Henderson Land Development Company[71] - Henderson Land Development Company holds 72.50% of the shares of Henderson Land Property Company[71] - Henderson Land Development Company holds 69.27% of the shares of Henderson Land Development Company[71] - Li Ka-shing is deemed to hold 345,999,980 shares of Miramar Hotel and Investment Company through various trusts and subsidiaries[74] - The group has no share option schemes or arrangements for directors to acquire shares or debentures[76] Employee Compensation and Development - The total number of full-time employees in the group is 1,336, with 1,303 in Hong Kong, 19 in Mainland China, and 14 overseas[77] - The group employs an equal pay policy and regularly reviews its compensation and benefits plans to ensure compliance with market practices[77] - The group values teamwork and encourages employees to take responsibility and work professionally to achieve the group's mission and vision[77] - The company has consistently invested in employee training and development since 2011, earning recognition from the Employees Retraining Board for its efforts in promoting lifelong learning and human resource development[78] Corporate Governance and Leadership - The company's Chairman and CEO, Dr. Li Ka-shing, has held the dual role since 2014, with the Board believing this structure ensures consistent leadership and efficient strategy execution[79] - The unaudited interim financial results for the six months ended June 30, 2024, were reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 2410[80] - The Audit Committee reviewed the financial performance for the six months ended June 30, 2024, and discussed internal controls, risk management, and financial reporting with the Group's audit, risk management, and corporate services director, as well as the independent auditor[81] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[82] - The interim financial report for the six months ended June 30, 2024, was prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[84] - KPMG's review of the interim financial report did not identify any material misstatements, confirming compliance with Hong Kong Accounting Standard 34[86] Related Party Transactions - The total amount of forfeited contributions used to offset employer contributions for the six months ended June 30, 2024, was HKD 138,000 (HKD 177,000 for the same period in 2023)[54] - Fair value of Hong Kong-listed equity securities classified as Level 1 was HKD 302,228,000 as of June 30, 2024, compared to HKD 221,059,000 as of December 31, 2023[57] - Fair value of non-listed investment funds classified as Level 2 was HKD 162,341,000 as of June 30, 2024, compared to HKD 13,340,000 as of December 31, 2023[57] - No transfers between Level 1 and Level 2 instruments, and no transfers into or out of Level 3 were recorded during the six months ended June 30, 2024[58] - The fair value of non-listed investment funds classified as Level 3 was HKD 51,885,000 as of June 30, 2024[57] - The fair value of financial assets and liabilities not measured at fair value is assumed to be similar to their carrying amounts due to their short-term maturity[59] - Capital commitments for property-related future expenses as of June 30, 2024, amounted to HKD 18,963 thousand, compared to HKD 6,078 thousand as of December 31, 2023[60] - Property agency service fees payable to a subsidiary of the ultimate holding company amounted to HKD 1,500 thousand for both 2024 and 2023[62] - Management fee income from a subsidiary of the ultimate holding company increased to HKD 458 thousand in 2024 from HKD 400 thousand in 2023[62] - Hotel and catering service income from subsidiaries and associates of the ultimate holding company increased to HKD 709 thousand in 2024 from HKD 443 thousand in 2023[62] - Rental income from a company controlled by a director for office units in Miramar Plaza Tower A amounted to HKD 10,416 thousand in 2024, slightly up from HKD 10,381 thousand in 2023[62] - Rental income from a subsidiary of the ultimate holding company for shops in Miramar Plaza Phase 1 increased to HKD 18,017 thousand in

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致之任何損失承擔任何責任。 美麗華酒店企業有限公司 MIRAMAR HOTEL AND INVESTMENT COMPANY, LIMITED （ 於香港註冊成立之有限公司） （ 股份代號：71） 2024年中期業績公告 中期業績 美麗華酒店企業有限公司（「本公司」）董事局公佈本公司及其附屬公司（「本集團」）截至2024年 6月30日止六個月之綜合業績，連同2023年同期的比較數字。 | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | ...

Financial Performance - The group's total revenue for 2023 was HKD 2,552 million, an increase of 84.7% compared to HKD 1,382 million in 2022[17]. - Profit attributable to shareholders rose to HKD 977 million, up 103.5% from HKD 480 million in the previous year[17]. - Basic earnings per share increased to HKD 1.19, compared to HKD 0.76 in 2022, reflecting a 56.8% growth[14]. - The total revenue for the hotel and serviced apartment business reached HKD 581.9 million, an increase of 82.8% compared to HKD 318.4 million in the previous year[22]. - The overall revenue for the restaurant business increased by 61.3%, significantly outperforming the average growth of 26.1% in the Hong Kong dining industry[34]. - The group's travel business revenue rebounded strongly to HKD 896.1 million, with EBITDA of HKD 46.7 million, compared to HKD 90.6 million and a loss of HKD 13.3 million in the same period last year[35]. - Total revenue for the year reached HKD 2.553 billion, an increase of 84.7% compared to 2022[44]. - Shareholders' profit attributable to the company was HKD 977 million, reflecting a growth of 103.5% year-over-year[44]. Business Segments Performance - Revenue from the hotel and serviced apartment business reached HKD 582 million, significantly up from HKD 318 million in 2022[9]. - The restaurant business generated revenue of HKD 279 million, compared to HKD 173 million in the previous year[9]. - The travel business saw a substantial increase in revenue to HKD 896 million, up from HKD 91 million in 2022[9]. - The rental business maintained stable performance with a revenue of HKD 795 million, slightly down from HKD 800 million in 2022[9]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.30 per share, bringing the total dividend for the year to HKD 0.53 per share[18]. - The board of directors has approved a dividend payout of HKD 0.50 per share, reflecting a commitment to returning value to shareholders[153]. Operational Efficiency and Cost Management - The overall operating costs increased by 34.5% to HKD 228.7 million, up from HKD 170 million in 2022, while the increase in operating expenses was lower than the revenue growth[38]. - The company has reported a 10% reduction in operational costs due to improved efficiencies and cost management strategies implemented over the past year[154]. Sustainability and Corporate Governance - The group has received multiple awards for sustainability and corporate governance, highlighting its commitment to responsible business practices[40]. - The company has implemented recycling programs across 20 projects, enhancing its sustainability efforts[44]. - The company has established effective risk management and internal control processes to identify and manage potential operational risks, with no violations of the Prevention and Control of Disease Ordinance reported during the reporting period[80]. - The company emphasizes the importance of environmental and social governance (ESG) data, with a focus on energy consumption, greenhouse gas emissions, and water usage metrics[149]. Employee Engagement and Training - The company provided more than 10,800 hours of training for employees, both online and offline[44]. - A total of 990 employees received training, with an average training duration of 8.43 hours per employee in the general staff category[136]. - The company provided training funding for employees, enabling participation in 45 external professional training courses in 2023, including food safety and environmental governance[127]. Community Engagement and Social Responsibility - The company donated approximately 1,000 meals to the Heartfelt Foundation in 2023[44]. - Mira Group actively participates in social services through the "Mira Care" platform, focusing on nurturing the next generation[100]. - The group engages in community support by donating mooncakes and providing assistance to underprivileged groups during the Mid-Autumn Festival[109]. Market Outlook and Future Plans - The company has set a future outlook with a revenue guidance of HKD 1.5 billion for the next fiscal year, reflecting a projected growth of 25%[155]. - New product launches are expected to contribute an additional HKD 300 million in revenue, with a focus on enhancing customer experience and expanding market share[156]. - Market expansion plans include entering two new international markets by Q3 2024, which is anticipated to increase overall market reach by 30%[158]. Risk Management and Compliance - The company has established anti-corruption training for directors and employees, enhancing compliance risk management[147]. - The company has a defined process for maintaining and protecting intellectual property, which is crucial for compliance risk management[148]. - The company has conducted limited assurance engagements on selected ESG data, ensuring the accuracy and reliability of reported information[150]. Board and Management Structure - The board consists of 13 members, including 5 executive directors, 2 non-executive directors, and 6 independent non-executive directors, ensuring a balanced composition for independent judgment[184]. - The management team includes experienced professionals with over 30 years in strategic management accounting, tax, auditing, and corporate governance[168]. - The company emphasizes the importance of good corporate governance practices and procedures, ensuring compliance with applicable codes and standards[179].

Financial Performance - The group's revenue increased by 84.7% to HKD 2.5526 billion (2022: HKD 1.3822 billion) [2] - Shareholders' profit attributable rose to HKD 971.1 million (2022: HKD 480.1 million), a year-on-year increase of 103.5% [4] - Basic earnings per share increased by 56.8% to HKD 1.19 (2022: HKD 0.76) [4] - The group reported a significant rebound in the restaurant business, with revenue reaching HKD 279.4 million [7] - The travel business revenue surged to HKD 896.1 million, benefiting from the full resumption of cross-border travel [7] - Total revenue for the hotel and serviced apartment business was HKD 5.819 billion, an increase of 82.8% compared to HKD 3.184 billion in the previous year [12] - EBITDA for the hotel and serviced apartment business rose to HKD 1.535 billion, a 763.6% increase from HKD 178 million in the previous year [12] - The group's total revenue for the year ended December 31, 2023, was HKD 2,552,594, an increase of 84.6% compared to HKD 1,382,231 in 2022 [19] - Gross profit for the same period was HKD 966,481, representing a gross margin of approximately 37.9% [19] - The net profit attributable to shareholders for 2023 was HKD 977,136, up 103.5% from HKD 480,104 in 2022 [20] - Basic and diluted earnings per share for 2023 were both HKD 1.41, compared to HKD 0.69 in 2022, reflecting a 104.3% increase [20] Dividends and Shareholder Returns - The proposed final dividend is HKD 0.30 per share, with a total annual dividend of HKD 0.53 per share [5] - The total dividend for the year was HKD 366,209, an increase from HKD 345,480 in 2022 [20] - The company declared an interim dividend of HKD 0.23 per share, up from HKD 0.21 per share in 2022 [36] - The final dividend is expected to be distributed on July 11, 2024, pending approval at the 2024 Annual General Meeting [55] Business Segments Performance - The group plans to enhance its restaurant business promotion and develop e-commerce to attract more customers [8] - The group successfully attracted mainland travelers by shifting promotional focus from international airport visitors to high-speed rail travelers [6] - The occupancy rates for The Mira Hong Kong and Moonlight Hotel reached 90% and 95% respectively in 2023, a significant increase of 22 percentage points and 54 percentage points compared to 2022 [12] - Average room rates increased by 61% and 40% for The Mira Hong Kong and Moonlight Hotel, reaching HKD 1,432 and HKD 1,706 respectively [12] - Restaurant business revenue grew by 61.3%, significantly outperforming the overall market growth of 26.1% [15] - The group launched a new Thai restaurant, Mue Mue, at Mira Place, further diversifying its dining portfolio [15] - Travel business revenue rebounded to HKD 896.1 million, with EBITDA of HKD 46.7 million, compared to HKD 90.6 million and a loss of HKD 13.3 million in the previous year [16] - The rental business generated external revenue of HKD 795,187,000, contributing to the overall performance of the group [30] - The hotel and serviced apartment segment achieved external revenue of HKD 581,884,000, reflecting its operational success [30] - The food and beverage segment recorded external revenue of HKD 279,443,000, indicating growth in this area [30] - The travel segment generated external revenue of HKD 896,080,000, showcasing its market presence [30] Financial Position and Assets - As of December 31, 2023, the group's total cash was HKD 56 billion, an increase from HKD 54 billion in 2022, with no loans outstanding [18] - The group's total assets less current liabilities increased to HKD 21,229,158 in 2023 from HKD 20,619,598 in 2022 [23] - Long-term securities investments and current financial assets were HKD 333.22 million and HKD 89.5 million, respectively, as of December 31, 2023, compared to HKD 28.1 million and HKD 58.4 million in 2022 [18] - The group maintained a zero debt-to-equity ratio as of December 31, 2023, consistent with the previous year [18] - The fair value of the group's investment properties increased by HKD 159.5 million, with a total fair value of HKD 15.3 billion as of December 31, 2023 [14] - The fair value change of investment properties for the year was a net increase of HKD 977,136,000, compared to a net decrease of HKD 480,104,000 in 2022 [42][43] Operational Efficiency - Overall operating costs increased by 34.5% to HKD 228.7 million, but the rise in operating expenses was lower than the increase in revenue [17] - Adjusted EBITDA for the rental business segment was HKD 899,757,000, while the hotel and serviced apartment segment reported HKD 153,523,000 [30] - The company reported a consolidated profit before tax of HKD 1,128,145,000 for the year ended December 31, 2023 [30] - The company reported a comprehensive profit before tax of HKD 580,191,000 for the year [31] - The total tax expense for the year was HKD 110,838,000, compared to HKD 91,651,000 in 2022 [36] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules for the year ending December 31, 2023 [57] - The audit committee has reviewed the financial performance for the year ending December 31, 2023, in conjunction with the independent auditor [58] - There were no purchases, sales, or redemptions of the company's listed securities during the year ending December 31, 2023 [60] - All directors have confirmed compliance with the standard code for securities transactions during the year ending December 31, 2023 [60] Employee and Talent Management - The total number of full-time employees as of December 31, 2023, is 1,301, with 1,269 in Hong Kong, 19 in Mainland China, and 13 overseas [55] - The company has been recognized annually since 2011 with the "Talent Enterprise Award" for its commitment to employee training and development [56] - The company emphasizes a culture of equal pay and regularly reviews its compensation and benefits plans to align with market conditions [55] - The company is committed to providing a continuous learning environment for employees to enhance productivity [56] Future Outlook - The group is optimistic about future growth opportunities in the hotel, travel, and restaurant sectors as the economy recovers [8] - The company plans to maintain its focus on market expansion and new product development in the upcoming fiscal year [31] - The group continues to seek investment opportunities and plans to increase financial asset investments for long-term holding [18] Accounting and Reporting - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial performance [25] - The group has made changes to its accounting policies regarding long service payment liabilities, with no significant impact on the consolidated financial statements [26] - The company is preparing to submit its financial statements for the year ended December 31, 2023, in compliance with the Hong Kong Companies Ordinance [24]

INTERIM REPORT 中期業績報告 MIRAMAR HOTEL AND INVESTMENT COMPANY, LIMITED 美麗華酒店企業有限公司 71 Stock code 股份代號 2O23 公司資料 1 | --- | --- | |----------------------------------------------------|--------------------------------------------------------------------------------------------| | | | | 公司資料 | | | 董事局 | 主席兼行政總裁 | | 執行董事 | 李家誠博士 | | 李家誠博士 （主席兼行政總裁） | | | 林高演博士 | 聯席公司秘書 | | 鄧日燊先生 | 黎浩文先生 | | 劉壬泉先生 | 朱國新先生 | | 何厚鏘先生 | | | 非執行董事 | 核數師 | | 馮鈺斌博士 | 畢馬威會計師事務所 | | 鄭家安先生 | 會 計 師 公 會 於《財 務 匯 報 局 條 例》下 的 註 冊 公 眾 | | | 利益實體核數 ...

Financial Performance - The group's revenue increased by 93.3% to HKD 1.142 billion (2022: HKD 0.591 billion) [2] - Shareholders' profit rose by 86.5% to HKD 380 million (2022: HKD 240 million) [2] - Basic earnings attributable to shareholders increased by 90% to approximately HKD 400 million (2022: HKD 211 million) [2] - Basic earnings per share were HKD 0.55 (2022: HKD 0.29), up 89.7%, and HKD 0.58 (2022: HKD 0.30), up 93.3% [2] - The net profit for the period was HKD 393.2 million, compared to HKD 208.2 million in the same period last year [19] - The group’s total comprehensive income for the period was HKD 291.99 million, compared to HKD 165.56 million in the same period last year [20] - The net profit attributable to shareholders for the six months ended June 30, 2023, was HKD 380,132,000, up from HKD 203,802,000 in the same period last year, marking an increase of 86% [38] - Basic earnings per share for the six months ended June 30, 2023, was HKD 0.58, compared to HKD 0.30 for the same period in 2022, reflecting a 93% increase [40] Dividends - The interim dividend declared is HKD 0.23 per share, compared to HKD 0.21 per share in 2022 [5] - The company declared an interim dividend of HKD 0.21 per share for the six months ended June 30, 2023, compared to HKD 0.145 per share for the same period in 2022 [36] Visitor and Hotel Performance - The number of tourists in Hong Kong surged from 76,000 in the first half of last year to 12.88 million, reaching one-third of pre-pandemic levels [6] - Hotel occupancy rates exceeded 90% in the month of border reopening, with revenue from Miramar Hotel increasing by 149.6% compared to the same period last year [7] - The occupancy rates for The Mira Hong Kong and Moon Hotel surpassed 90%, reaching 91.1% and 95.2% respectively, with average room rates increasing by 58.4% and 8.0% [11] - Total revenue from hotel and serviced apartment operations rose to HKD 267.2 million, with EBITDA of HKD 65.5 million, compared to HKD 107.9 million and a loss of HKD 13.7 million in the same period last year [11] Rental and Other Business Segments - The overall rental rate for shopping malls and offices stabilized above 90% compared to the same period last year [7] - Rental business revenue remained stable at HKD 398.9 million, with EBITDA of HKD 349 million, compared to HKD 406.9 million and HKD 349.6 million respectively last year [12] - The group's restaurant business recorded revenue of HKD 138.6 million, with EBITDA of HKD 15.7 million, compared to HKD 65.2 million and a loss of HKD 6 million in the same period last year [14] - The group launched two new restaurant concepts, "Tang Shu" and "JAJA," capitalizing on the post-pandemic rebound in the dining sector [14] - The travel business generated revenue of HKD 337.4 million and EBITDA of HKD 10.5 million, compared to HKD 10.8 million in revenue and a loss of HKD 7.9 million in the same period last year [15] - The group experienced strong revenue growth across several business segments, including a 147.6% increase in hotel and serviced apartment revenue and a 112.6% increase in the restaurant business [16] Cash and Financial Position - The group maintained a strong cash position with total cash of HKD 5.5 billion as of June 30, 2023, compared to HKD 5.4 billion at the end of 2022, with no loans outstanding [17] - The effective annual interest rate on the group's deposits increased to 4.5% in the first half of 2023, up from 0.6% in the same period last year, representing a 6.5-fold increase [17] - The group’s financial policy remains conservative, with a debt-to-equity ratio of zero, ensuring strong solvency and capacity for future investments [17] Assets and Liabilities - As of June 30, 2023, total assets amounted to HKD 20,718,089,000, an increase from HKD 20,619,598,000 as of December 31, 2022, representing a growth of approximately 0.48% [22] - The total liabilities increased from HKD 625,412,000 to HKD 902,803,000, marking an increase of approximately 44.24% [21] - The company reported a significant increase in accounts receivable, rising to HKD 233,750,000 from HKD 214,747,000, which is an increase of about 8.66% [21] - Accounts receivable (net of loss provisions) as of June 30, 2023, totaled HKD 87,247,000, compared to HKD 89,337,000 as of December 31, 2022, reflecting a decrease of 2% [42] - The total liabilities, including accounts payable and other payables, increased to HKD 596,651,000 as of June 30, 2023, from HKD 363,974,000 as of December 31, 2022, indicating a growth of 64% [44] Employee and Corporate Governance - The number of full-time employees as of June 30, 2023, was 1,247, with 1,215 in Hong Kong, 22 in Mainland China, and 10 overseas [48] - The company has a defined contribution retirement plan for its employees, with contributions ranging from 5% to 11% of the employees' basic monthly salary [46] - The company has been recognized annually since 2011 for its commitment to employee training and development, receiving awards from the Employee Retraining Board [49] - The company adheres to the corporate governance code as per the Hong Kong Stock Exchange regulations, with no separation of roles between the Chairman and CEO [50] Future Outlook - The company anticipates a 25% increase in flights and international travelers in the second half of the year, with a potential 40% increase in flights next year [8] - The group aims to enhance operational efficiency and service value to meet the challenges of market recovery [8] - The board's forward-looking statements are based on beliefs, assumptions, and expectations regarding the current industry and market conditions [53]

Financial Performance - The group's total revenue for 2022 was HKD 1.382 billion, an increase of 10.8% compared to HKD 1.247 billion in 2021[9]. - Shareholders' profit attributable to the company was HKD 480 million, up 45.5% from HKD 330 million in 2021[9]. - Basic earnings per share increased to HKD 0.76 from HKD 0.61, representing a year-on-year growth of 24.6%[7]. - The hotel and serviced apartment business generated revenue of HKD 318 million, up from HKD 286 million in 2021[5]. - The company proposed a final dividend of HKD 0.29 per share, bringing the total dividend for the year to HKD 0.50 per share[10]. - Rental income for the group was HKD 800 million, with EBITDA declining by 1.8% to HKD 677 million[18]. - Restaurant revenue reached HKD 173 million, with a significant rebound in the second half of the year, increasing by 66% compared to the first half[25]. - The company reported a significant increase in total revenue, reaching HKD 1.2 billion, representing a 15% year-over-year growth[103]. - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the fiscal year, representing a 15% year-over-year growth[114]. Business Operations - The group achieved a hotel occupancy rate exceeding 85% in the fourth quarter of 2022[12]. - The tourism business began to recover in the fourth quarter of 2022, with increased revenue due to the easing of travel restrictions[12]. - The company launched two new restaurants in the first quarter of 2022, capitalizing on the rebound in consumer demand post-pandemic[12]. - The hotel and serviced apartment business generated total revenue of HKD 318 million, with EBITDA of HKD 18 million[15]. - Room revenue for the hotel and serviced apartment business increased significantly by 35% to HKD 160 million[17]. - The occupancy rate for The Mira Hong Kong rose by 28% due to various long-term accommodation plans and local staycation promotions[17]. - The group plans to continue exploring investment opportunities and expanding its business in response to the improving market environment[13]. Environmental Sustainability - Water consumption was reduced by over 106,681 cubic meters, showcasing the company's efforts in environmental sustainability[42]. - The company reported a decrease in annual electricity consumption by over 500,000 kilowatt-hours, reflecting energy efficiency initiatives[42]. - The group has implemented a long-term environmental policy, ensuring no significant violations of environmental laws were found as of December 31, 2022[52]. - The energy-saving project for the air conditioning systems in the shopping mall and office buildings has reduced electricity consumption by at least 500,000 kWh annually since 2021[54]. - The group has transitioned to using LED lighting systems in its shopping malls, achieving over 50% energy savings compared to other lighting systems[55]. - The "Mi Go Green" platform was launched to integrate sustainability into business operations, focusing on fashion, food, and shopping[53]. - The total energy savings achieved in 2022 amounted to 10.56 million kWh, exceeding the annual energy target of 6.82 million kWh[57]. - The company has implemented a series of initiatives to reduce single-use plastic products and promote recycling in its malls[62]. - The company has established waste reduction targets and measures to achieve these goals, emphasizing daily operations' waste recycling initiatives[99]. Employee Development and Welfare - The company achieved over 4,682 hours of training in 2022, indicating a strong commitment to employee development[42]. - The total number of employees as of December 31, 2022, was 1,143, with a gender ratio of 56% male and 44% female[72]. - The employee turnover rate was 25% overall, with 36% for employees under 30 years old[73]. - The group has implemented a comprehensive training and development blueprint, transitioning from online to in-person training as normalcy resumed in Hong Kong[76]. - The average training hours per employee was 4.1 hours, with male employees averaging 2.9 hours and female employees averaging 5.6 hours[77]. - The group provided two days of paid leave for employees after each COVID-19 vaccination, along with special bonuses for vaccinated employees[75]. - The group offers competitive employee benefits, including medical and life insurance, paid marriage leave, maternity leave, and free meals[70]. Corporate Governance - The company reported a commitment to good corporate governance practices, emphasizing the importance of a strong board, reliable risk management, and accountability to shareholders[129]. - The company adhered to the corporate governance code as per the Hong Kong Stock Exchange's listing rules for the year ending December 31, 2022[130]. - The board consists of 13 members, including 5 executive directors, 2 non-executive directors, and 6 independent non-executive directors, ensuring a balanced composition for independent judgment[134]. - The board has established key policies to ensure corporate governance, including anti-corruption, diversity, and shareholder communication policies[132]. - The company has adopted a diversity policy for board members, emphasizing the importance of diversity in enhancing company performance, with a commitment to identify at least one female candidate for board appointment by December 31, 2024[154]. - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements[145]. - The company has established a complaint policy to address issues of unfair treatment, discrimination, or harassment[71]. Community Engagement - The company actively participated in community engagement and social responsibility initiatives, receiving the Business Care Award from the Hong Kong Council of Social Service for 2022-2023[39]. - The group donated 1,000 kilograms of surplus food to NGOs in 2022, continuing a long-term partnership with food donation organizations[96]. - The group provided over 100,000 rapid antigen test kits to support the community during the COVID-19 pandemic[94]. - The group launched the "MiraCare" initiative to assist tenants with rent relief and payment deferrals, particularly benefiting retail and small businesses[94]. Risk Management - The company emphasizes effective risk management as a key element for sustainable development and achieving strategic goals[161]. - The risk management framework includes a three-line defense system to ensure comprehensive corporate governance[162]. - Key risks identified include talent retention, economic outlook, and impacts from infectious disease outbreaks, with specific monitoring measures in place[165]. - The company regularly reviews its investment portfolio to mitigate potential losses from financial market fluctuations[165]. - The internal audit department operates independently and reports directly to the audit committee, ensuring compliance with international professional standards in operational monitoring and risk management for the year 2022[166]. Market Expansion and Future Outlook - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[115]. - The company is exploring potential acquisitions to enhance its portfolio, with a budget of HKD 300 million allocated for this purpose[109]. - The company has set a future outlook with a revenue growth target of 10% for the next fiscal year, driven by market expansion strategies[105]. - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on enhancing customer experience[106].