Financial Performance - The group's revenue increased by 10.8% to HKD 1.382 billion (2021: HKD 1.247 billion) [2] - Shareholders' profit attributable to shareholders was approximately HKD 480 million (2021: HKD 330 million), representing a year-on-year increase of 45.5% [2] - Basic profit attributable to shareholders rose by 23.6% to HKD 523 million (2021: HKD 423 million) [2] - The total profit for the year 2022 was HKD 488,540,000, an increase of 45.5% compared to HKD 335,653,000 in 2021 [20] - The total comprehensive income for the year was HKD 403,657,000, up from HKD 375,690,000 in 2021, representing a growth of 7.4% [20] - The company reported a net profit before tax of HKD 580,191,000, up from HKD 422,759,000 in 2021, reflecting a growth of approximately 37.3% [30] - The effective tax rate for the year was 16.5%, consistent with the previous year, with total tax expenses amounting to HKD 91,651,000 [36] Earnings and Dividends - Basic earnings per share were HKD 0.69 (2021: HKD 0.48) and HKD 0.76 (2021: HKD 0.61) [2] - Total dividends declared for the year amounted to HKD 345 million, including a final dividend of HKD 200 million [19] - The proposed final dividend is HKD 0.29 per share, with a total annual dividend of HKD 0.50 per share [5] - The company declared an interim dividend of HKD 0.21 per share, an increase from HKD 0.20 per share in 2021, totaling HKD 145,102,000 [36] - The basic earnings per share for the year 2022 was HKD 0.76, an increase from HKD 0.61 in 2021, representing a growth of approximately 24.6% [42] Revenue Breakdown - The hotel and serviced apartment business generated total revenue of HKD 318 million, with EBITDA of HKD 18 million [10] - Room revenue for the hotel and serviced apartment business reached HKD 160 million, a significant increase of 35% compared to last year [10] - Restaurant business revenue for the year was HKD 173 million, with an EBITDA loss of HKD 1.9 million, compared to revenue of HKD 133 million and an EBITDA loss of HKD 1.08 million in the previous year [13] - Travel business revenue increased by 572.2% to HKD 91 million, with an EBITDA loss of HKD 13 million, compared to a revenue of HKD 13.5 million and an EBITDA loss of HKD 23.3 million in the previous year [14] - The company's revenue from Hong Kong was HKD 1,316,599,000, an increase from HKD 1,178,953,000 in 2021, representing a growth of approximately 11.7% [34] Assets and Liabilities - Non-current assets totaled HKD 15,464,781,000, slightly decreasing from HKD 15,477,975,000 in 2021 [21] - Current assets increased to HKD 5,780,229,000 from HKD 5,604,062,000, reflecting a growth of 3.1% [21] - The net current asset value was HKD 5,154,817,000, compared to HKD 5,077,172,000 in 2021, indicating an increase of 1.5% [22] - Total assets less current liabilities amounted to HKD 20,619,598,000, a slight increase from HKD 20,555,147,000 in 2021 [22] - The company's equity attributable to shareholders was HKD 19,966,164,000, up from HKD 19,881,690,000 in 2021, showing a growth of 0.4% [22] Investment Properties and Fair Value - The fair value of investment properties decreased by HKD 23 million during the year, with a total fair value of HKD 15.2 billion as of December 31, 2022 [12] - The fair value of investment properties decreased by HKD 23,159,000 in 2022, a significant reduction compared to a decrease of HKD 112,143,000 in 2021 [43] - The company reported a fair value change of HKD (6,898,000) for equity securities measured at fair value through other comprehensive income [20] Operational Highlights - The number of visitors to Hong Kong increased to 600,000 in 2022, recovering from 90,000 in 2021 [10] - The occupancy rate for The Mira Hong Kong increased by 28% due to various promotional activities targeting local travelers [10] - Total operating costs rose by 4.1% to HKD 170 million, while the increase in operating expenses was lower than the revenue growth [15] Cash and Financing - As of December 31, 2022, the group had a total cash balance of HKD 5.4 billion, with no loans outstanding [16] - The financing costs amounted to HKD 604,324,000, a decrease from HKD 514,848,000 in the previous year, showing a reduction of about 17.4% [30] Corporate Governance and Meetings - The company will hold its 2023 Annual General Meeting on June 8, 2023, with a notice expected to be published on April 26, 2023 [53] - The proposed final dividend is expected to be distributed to shareholders on July 11, 2023, if approved at the Annual General Meeting [55] - The audit committee reviewed the group's financial performance for the year ended December 31, 2022, discussing matters related to auditing, internal controls, and financial reporting [58] - The company has adopted the "Standard Code for Securities Transactions by Directors" as per the listing rules, confirming all directors complied with the standards during the year ended December 31, 2022 [60] Employee and Training Initiatives - The group had a total of 1,171 full-time employees as of December 31, 2022, with 1,143 in Hong Kong, 22 in China, and 6 overseas [55] - The group has continuously invested in employee training and development, receiving awards for its commitment to human resources training and lifelong learning since 2011 [56]

Financial Performance - The group's revenue for the six months ended June 30, 2022, was HKD 591 million, a 1.2% increase from HKD 584 million in the same period last year[5]. - Shareholders' profit attributable to the company was HKD 204 million, representing a 29.2% increase from HKD 158 million in 2021[5]. - Basic earnings per share rose to HKD 0.30, a 7.1% increase from HKD 0.28 in the previous year[5]. - Revenue for the six months ended June 30, 2022, was HKD 590,784, an increase of 1.9% compared to HKD 583,658 for the same period in 2021[18]. - Net profit for the period was HKD 208,192, representing a 29.4% increase from HKD 160,847 in the previous year[20]. - Total comprehensive income for the period was HKD 165,560, a decrease from HKD 178,354 in the prior year[22]. - The company's profit attributable to shareholders for the six months ended June 30, 2022, was HKD 203.802 million, compared to HKD 157.727 million for the same period in 2021, representing a 29.2% increase[46]. - Basic and diluted earnings per share increased to HKD 0.29, up from HKD 0.23 in the same period last year[18]. Dividend and Shareholder Returns - The interim dividend declared is HKD 0.21 per share, expected to be distributed on October 12, 2022[6]. - The company declared an interim dividend of HKD 0.21 per share for the current period, compared to HKD 0.20 per share for the same period last year, reflecting a 5% increase[44]. Business Challenges and Responses - The group faced significant challenges due to the COVID-19 pandemic, with local GDP declining by 4.0% year-on-year in the first quarter of 2022[7]. - The group implemented the "MIRA CARE" plan to enhance safety measures in response to the pandemic, distributing rapid antigen test kits to employees and customers[8]. - The rental business remained stable despite a significant drop in retail and dining due to pandemic policies, with efforts to maintain high occupancy rates[8]. - The group plans to adopt a proactive and prudent approach to enhance competitiveness and seek investment opportunities amid ongoing pandemic uncertainties[9]. - The group aims to adjust strategies according to market changes to achieve sustainable performance and maximize benefits for shareholders[9]. Revenue Breakdown - Hotel and serviced apartment revenue decreased by 10.0% year-on-year to HKD 107.9 million, with an EBITDA loss of HKD 13.7 million, widening the loss by HKD 6.1 million compared to the previous year[11]. - Rental income remained stable at HKD 406.9 million, with an EBITDA of HKD 349.6 million, showing no significant change from the previous year[12]. - Restaurant business revenue increased by 53% and 62% in May and June respectively compared to the previous year, totaling HKD 65.2 million, with an EBITDA loss of HKD 6 million[14]. - Travel business revenue was HKD 10.8 million, with an EBITDA loss of HKD 7.9 million, significantly improved from HKD 0.7 million revenue and HKD 7.8 million loss in the same period last year[15]. Financial Position and Liquidity - The group maintained a cash balance of HKD 5.4 billion as of June 30, 2022, with no loans outstanding[17]. - The total credit facilities available to the group remained at HKD 1 billion, with no utilization as of June 30, 2022[17]. - The group’s debt-to-equity ratio was zero, indicating a strong financial position with sufficient liquidity to navigate economic uncertainties[17]. - Current assets amounted to HKD 5,798,309, an increase from HKD 5,604,062 at the end of 2021[24]. - The company’s total equity as of June 30, 2022, was HKD 20,028,097,000, compared to HKD 19,983,042,000 at the end of the previous year, reflecting a slight increase of about 0.2%[26]. Asset Valuation - The fair value of investment properties decreased by HKD 6.8 million, with a total fair value of HKD 15.2 billion as of June 30, 2022[13]. - The company reported a fair value decrease in investment properties of HKD 6,833, significantly improved from HKD 53,982 in the previous year[18]. - The company reported a decrease in the fair value of investment properties by HKD (6,833,000) during the period[34]. Operational Efficiency - Operating and other expenses decreased by HKD 12.6 million (15.1%) to HKD 70.9 million compared to the previous year[16]. - Adjusted EBITDA for the total group was HKD 321,862,000, compared to HKD 330,064,000 in the prior year, reflecting a decrease of 2.5%[34]. - Employee compensation for the period was HKD 190,752,000, up from HKD 172,727,000 in the previous year, indicating an increase of 10.4%[36]. Compliance and Governance - The company has complied with the Corporate Governance Code as per the Hong Kong Stock Exchange Listing Rules during the six months ending June 30, 2022[81]. - The Audit Committee reviewed the financial performance for the six months ending June 30, 2022, discussing internal controls, risk management, and financial reporting with independent auditors[82]. - All directors confirmed compliance with the standards set out in the "Model Code for Securities Transactions by Directors of Listed Issuers" during the accounting period covered by the interim report[83]. Employee and Human Resources - As of June 30, 2022, the group employed a total of 1,117 full-time employees, with 1,088 in Hong Kong, 22 in Mainland China, and 7 overseas[79]. - The group has been recognized annually since 2011 with the "Talent Enterprise Award" by the Employee Retraining Board for its achievements in human resources training and development[80]. - The company is committed to providing a continuous learning environment and opportunities for employee growth and productivity enhancement[80].

Financial Performance - The group's total revenue for the fiscal year ended December 31, 2021, was HKD 1,247 million, a decrease of 5.1% compared to HKD 1,315 million in 2020[9]. - Shareholders' profit attributable to the company was HKD 330 million, an increase of 9.3% from HKD 302 million in the previous year[19]. - Basic earnings per share were HKD 0.61, down 7.6% from HKD 0.66 in 2020[15]. - The hotel and serviced apartment business recorded revenue of HKD 286 million, an increase of 41.8% compared to HKD 202 million in 2020[26]. - The EBITDA for the hotel and serviced apartment business was HKD 46 million, recovering from a loss of HKD 53 million in the previous year[26]. - Rental income from the leasing business decreased to HKD 800 million, down 0.6% year-on-year[30]. - The tourism business revenue fell to HKD 13.5 million, a decline of 92.2% from HKD 173.7 million in the previous year[40]. - Total operating costs decreased to HKD 163.3 million from HKD 165.8 million in the previous year[42]. - The group maintained a strong liquidity position with net cash of approximately HKD 5.2 billion as of December 31, 2021[42]. - The group has zero bank loans as of December 31, 2021, compared to HKD 2.99 million in the previous year[42]. Business Development and Strategy - The group is actively seeking investment and business development opportunities despite the ongoing challenges posed by the pandemic[23]. - The group remains optimistic about Hong Kong's resilience and flexibility, anticipating a swift recovery once the pandemic is under control[23]. - The group achieved approximately 95% of its total business revenue from operations in Hong Kong as of December 31, 2021[54]. - The group continues to implement targeted relief measures for tenants affected by the pandemic[32]. - The group provided rental assistance and promotional support to tenants, particularly in the retail and restaurant sectors, during the ongoing pandemic[144]. Environmental, Social, and Governance (ESG) Initiatives - The group actively participates in environmental, social, and governance (ESG) activities, aiming to provide sustainable growth for stakeholders and communities[52]. - The group has been recognized for its sustainability efforts, receiving the "ESG Care Prize" from SocietyNext Foundation in 2021[44]. - The group’s environmental, social, and governance report adheres to the guidelines set by the Hong Kong Stock Exchange, ensuring transparency and accountability[54]. - The group emphasizes risk management and internal control systems, integrating ESG risk assessments into its overall risk management framework[53]. - A total of 17 significant ESG issues were identified, guiding the group's business development and operational strategies[56]. - The group has established a green management team and an energy management team to enhance environmental performance and operational efficiency[96]. - The group has committed to addressing climate change and has integrated environmental considerations into its decision-making processes[95]. - The group has implemented a customer satisfaction survey to gather feedback and improve service quality[57]. - The company has established a comprehensive recycling program for various waste types, including paper, plastic bottles, and electronic waste[112]. Employee and Workplace Practices - The group has a total of 1,105 employees, with 642 males and 463 females[120]. - Employee turnover rate is 25.7%, with a higher rate of 30.5% for females[121]. - The overall vaccination rate among employees reached 88% in 2021 due to the company's proactive vaccination promotion plan[124]. - The training participation rate for employees was 48% as of December 31, 2021, with a total of 11,699 training sessions conducted[126]. - Average training hours per employee were 6.97 hours, with middle managers receiving an average of 7.42 hours[126]. - The company has been awarded the title of "Talent Development Enterprise" annually since 2011 for its commitment to employee training and development[128]. - The company provides special paid leave and bonuses for employees who receive vaccinations[124]. - The company has established various communication channels to encourage open dialogue among employees, including a "Dialogue with the CEO" initiative[130]. - The company supports work-life balance by offering recreational facilities and organizing interactive workshops for employees[129]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules for the year ending December 31, 2021[191]. - The board consists of 13 members, including 5 executive directors, 2 non-executive directors, and 6 independent non-executive directors[192]. - The company is committed to maintaining high standards of corporate governance and has reviewed its policies and practices accordingly[196]. - The independent non-executive directors have confirmed their independence and are deemed to provide valuable experience and stability to the board[194]. - The company emphasizes the training and continuous professional development of its directors and senior management[196]. Community Engagement and Support - The group donated a total of 492 kilograms of surplus food in 2021, continuing its partnership with local charities to support those in need[153]. - The group provided venue sponsorship for charity events, including a Christmas cookie sale to support local charities[149]. - The group organized a CPR and AED training course for employees, enhancing their emergency response skills[149]. - The group launched electronic charity vouchers, converting their value into donations for UNICEF based on member points redeemed[150]. - The group has been actively involved in food donation activities, contributing to a more sustainable food system in the community[154].

Financial Performance - The group's revenue for the six months ended June 30, 2021, was HKD 584 million, a decrease of 23.7% compared to HKD 765 million in 2020[8] - Shareholders' profit attributable to the company was HKD 158 million, a slight increase of 0.6% from HKD 157 million in 2020[8] - The basic earnings per share decreased by 15.7% to HKD 0.28, down from HKD 0.33 in 2020[8] - The group’s total revenue for the six months ended June 30, 2021, was HKD 583.7 million, down from HKD 765.3 million in the same period last year[24] - The group reported a profit attributable to shareholders of HKD 160.8 million, slightly up from HKD 160.5 million in the previous year[24] - Basic and diluted earnings per share were HKD 0.23 for the period[24] - Total comprehensive income for the period was HKD 178,354,000, up from HKD 152,594,000 in 2020, representing an increase of 16.9%[26] - The net profit for the six months ended June 30, 2021, was HKD 157,727,000, compared to HKD 145,182,000 for the same period in 2020, representing an increase of approximately 8.5%[33] - The company reported a net profit before tax of HKD 208,678,000, compared to HKD 206,352,000 in the previous year, indicating a slight increase of 1%[44] - Total comprehensive income for the period was HKD 245,356,000, reflecting the overall financial performance[44] Business Segments - The hotel and serviced apartment business revenue increased by 17% to HKD 119.9 million, while the average occupancy rate for quarantine hotels exceeded 60%[16] - Rental business revenue was HKD 403.2 million, with EBITDA of HKD 351 million, representing a slight decline of 3.4% and 4.6% respectively compared to the same period last year[17] - Restaurant business revenue recorded HKD 59.9 million, with an EBITDA loss of HKD 5.5 million, compared to revenue of HKD 67.8 million and an EBITDA loss of HKD 6.3 million in the same period last year[20] - The tourism business generated revenue of HKD 0.7 million, with an EBITDA loss of HKD 7.8 million, down from revenue of HKD 177.4 million and an EBITDA loss of HKD 16.6 million in the previous year[21] Economic Context - The group faced significant challenges due to the ongoing COVID-19 pandemic, with international travel markets remaining stagnant[10] - The local economy showed signs of recovery in April 2021, with a rebound in GDP following a 6.1% decline in 2020[12] - The management remains optimistic about economic recovery, supported by increasing vaccination rates and government initiatives[13] Cost Management - The group continues to control costs strictly and delay non-essential expenditures to mitigate the impact of the pandemic[10] - Total operating costs decreased by HKD 11.6 million, resulting in a 12.2% reduction to HKD 83.5 million compared to HKD 95.1 million last year[22] Cash and Assets - The group maintained a net cash position of HKD 5.3 billion as of June 30, 2021, with no borrowings[23] - The company's total assets less current liabilities amounted to HKD 20,506,720,000 as of June 30, 2021, slightly down from HKD 20,530,506,000 at the end of 2020[29] - Cash and bank balances increased to HKD 5,333,775,000 from HKD 5,050,300,000, indicating a growth of 5.6%[28] - The company's total assets as of June 30, 2021, were HKD 19,983,042,000, compared to HKD 19,850,643,000 at the end of 2020, showing a slight increase of approximately 0.7%[33] Shareholder Information - The company declared an interim dividend of HKD 0.20 per share, payable on October 13, 2021[9] - The company declared an interim dividend of HKD 12,954,000 for the period, compared to HKD 15,088,000 in the previous year, representing a decrease of about 14.1%[33] - The approved interim dividend for the last fiscal year is HKD 0.28 per share, down from HKD 0.34 per share in the same period last year, totaling HKD 193,469,000 compared to HKD 234,926,000 in 2020[57] Investment Properties - The fair value of the group's investment properties decreased by HKD 54 million, with a total book value of HKD 15.2 billion as of June 30, 2021[19] - The fair value of investment properties decreased by HKD 53,982,000 during the period, compared to a decrease of HKD 72,528,000 in the same period last year[62] Employee Information - As of June 30, 2021, the company had a total of 1,171 full-time employees, with approximately 1,147 in Hong Kong and 24 in the People's Republic of China[99] - The company maintains an equal opportunity employer status, emphasizing team spirit and professional conduct among employees[99] - The company has implemented a comprehensive compensation and benefits management system to attract and retain talent[99] Corporate Governance - The company has complied with the Corporate Governance Code as per the Hong Kong Stock Exchange rules for the six months ending June 30, 2021, but does not distinguish between the roles of Chairman and CEO[101] - The Audit Committee reviewed the financial performance for the six months ending June 30, 2021, discussing internal controls, risk management, and financial reporting with external auditors[102] Miscellaneous - The report contains forward-looking statements that are subject to risks and uncertainties, which may cause actual results to differ significantly from those projected[104] - The interim financial report includes the consolidated financial position as of June 30, 2021, and the consolidated income statement for the six months ending on that date[105]

Financial Performance - The group's total revenue for the fiscal year ended December 31, 2020, was HKD 1,315 million, a decrease of 57.1% compared to HKD 3,062 million in 2019[18]. - Shareholders' attributable profit was HKD 302 million, down 76.6% from HKD 1,288 million in 2019[18]. - Basic earnings per share decreased by 41.6% to HKD 0.66, compared to HKD 1.13 in 2019[18]. - The group's hotel and serviced apartment business recorded revenue of HKD 202 million, a decline of 63.9%[27]. - The EBITDA for the hotel and serviced apartment business was a loss of HKD 5.3 million[27]. - Rental business revenue slightly decreased to HKD 819 million, with an EBITDA of HKD 713 million, representing declines of 10.3% and 10.7% respectively compared to last year[32]. - The restaurant business generated revenue of HKD 120 million, down from HKD 244 million the previous year, with an EBITDA loss of HKD 11.5 million[38]. - The travel business recorded revenue of HKD 174 million, a decline of 87.1% year-on-year, with an EBITDA loss of HKD 23.1 million[43]. Visitor and Employment Impact - The number of visitors to Hong Kong plummeted by 93.6% to 3.57 million in 2020, down from 55.91 million in 2019[20]. - The local unemployment rate rose to 6.6% in 2020, up from 3.3% in 2019[20]. - The group continues to control costs and delay non-essential capital expenditures amid challenging market conditions[22]. Dividends and Financial Position - The group proposed a final dividend of HKD 0.28 per share, totaling HKD 0.50 per share for the year[19]. - As of December 31, 2020, the group's consolidated net cash was approximately HKD 5 billion, a decrease from HKD 5.2 billion as of December 31, 2019[46]. - The total credit facilities granted to the group amounted to approximately HKD 1 billion as of December 31, 2020, down from HKD 1.3 billion as of December 31, 2019, with only 0.30% utilized[46]. - The group's debt-to-equity ratio was only 0.02% as of December 31, 2020, compared to 0.04% as of December 31, 2019, indicating a strong financial position[46]. - The group maintains a sound financial policy with sufficient funds and credit facilities to address foreseeable economic uncertainties[46]. Business Adaptation and Recovery - The group plans to adapt to the new normal post-pandemic and is optimistic about future recovery[23]. - The group introduced various local staycation packages and experiences to adapt to changing consumer patterns and improve occupancy rates[28]. - New promotional activities were launched to increase foot traffic in shopping malls, including cash voucher promotions and takeout discounts[33]. - The group is focused on enhancing its tenant mix and improving facilities to boost customer flow and service quality in its properties[33]. Environmental Initiatives - The group emphasizes sustainable business practices, believing they provide financial returns while benefiting stakeholders and the community[59]. - The group has a robust risk management system in place to assess and manage environmental, social, and governance risks[60]. - The group has been actively involved in community and environmental initiatives, reinforcing its commitment to responsible corporate citizenship[59]. - The group emphasizes energy efficiency, effective water use, and waste reduction as key environmental protection priorities[72]. - The environmental policy, approved in 2016, applies to all business operations and supply chains, with no significant violations reported as of December 31, 2020[76]. - The establishment of two dedicated teams, the Green Management Team and the Energy Management Team, aims to enhance environmental performance and operational efficiency[77]. - The group’s green initiatives include optimizing environmental facilities and integrating environmental culture into business operations[73]. - The company has achieved ISO 14001 certification for its environmental management system across multiple properties, reflecting its commitment to environmental considerations[96]. Employee Engagement and Welfare - The total number of employees as of December 31, 2020, is 1,218, with 690 males and 528 females[101]. - The employee turnover rate is 15.4%, with a breakdown of 12.5% for males and 18.9% for females[102]. - The group offers competitive employee compensation and benefits, including medical and life insurance, paid marriage leave, maternity leave, and free meals[99]. - The group has received the "10 Years Plus Caring Company" logo from the Hong Kong Council of Social Service, recognizing its commitment to employee welfare[99]. - The group provides comprehensive training and development programs to enhance employees' professional skills and knowledge, including hygiene training in response to the pandemic[104]. - Training employee ratio as of December 31, 2020, is 77%, with 12,464 total training participants and an average training hours of 5.94[105]. Risk Management and Compliance - The company has established a strict compliance control system to prevent child labor and forced labor, ensuring all suppliers adhere to these requirements[99]. - The group has implemented effective risk management and internal control processes to identify and manage potential operational risks[117]. - The company has established clear policies for reporting misconduct, insider information, and related transactions to maintain compliance[179]. - The risk management department reports directly to the management and the audit committee, ensuring accountability and oversight[180]. - The company has optimized its risk management framework to adapt to changing regulatory and operational environments[177]. Community Support and Engagement - The group provided 1,800 surgical masks to children in need through a community center to alleviate their burden during the pandemic[121]. - A total of 617 kilograms of surplus food was donated to those in need in 2020, continuing the partnership with local food donation organizations[127]. - The group organized environmental workshops to promote sustainable living practices among employees[128]. - The group engaged in community support activities, including providing venue sponsorship for the "Hong Kong Street Marathon 2020" to support over 30 charitable organizations[126]. Corporate Governance - The company has maintained high levels of corporate governance, complying with the Hong Kong Stock Exchange's corporate governance code throughout the year ending December 31, 2020[157]. - The board consists of 13 members, including 5 executive directors, 2 non-executive directors, and 6 independent non-executive directors, ensuring a balanced governance structure[158]. - The company has a dual role for the Chairman and CEO, which has been in place since June 12, 2014, to ensure effective leadership and strategy execution[157]. - The company has adopted a diversity policy for its board members, emphasizing merit-based appointments and considering various diversity factors[169].

Financial Performance - The group's revenue for the six months ended June 30, 2020, was HKD 765 million, a decrease of 51.8% compared to HKD 1.586 billion in the same period last year[4] - Shareholders' profit attributable to the company was HKD 157 million, down 79.6% from HKD 770 million in 2019[4] - The basic earnings per share were HKD 0.33, a decline of 45.9% from HKD 0.61 in the previous year[4] - Total comprehensive income for the period reached HKD 152,594,000, compared to HKD 799,769,000 in the previous period, reflecting a significant decrease[21] - The company reported a profit for the period of HKD 518,531,000, compared to HKD 769,696,000 in the previous period, representing a decrease of approximately 32.5%[26] - The total comprehensive income for the period was HKD 160.5 million, compared to HKD 797.2 million in the same period last year[18] - Basic and diluted earnings per share were HKD 0.23, down from HKD 1.11 in the previous year[17] Revenue Breakdown - Revenue from the hotel and serviced apartment business decreased by 69% to HKD 102.5 million[9] - Restaurant business revenue fell to approximately HKD 67.8 million, down 35.9% year-on-year, with EBITDA recording a loss of HKD 6.3 million[12] - Travel business revenue was HKD 177.4 million, with EBITDA showing a loss of HKD 16.6 million, compared to HKD 656.5 million and HKD 43.7 million respectively in the previous year[13] - Rental income decreased to HKD 417.5 million, down 9.6% year-on-year, with EBITDA at HKD 368.2 million, a decline of 10%[10] Visitor and Occupancy Trends - The number of visitors to Hong Kong dropped to 3.52 million, a significant decrease of 90% year-on-year[6] - The average hotel occupancy rate in Tsim Sha Tsui fell from approximately 90% to about 20-30% during the reporting period[9] Cost Management and Financial Position - The company is implementing strict cost control measures and delaying non-essential capital expenditures in response to the challenging operating environment[6] - Total operating costs decreased by 12.1% to HKD 95.1 million, with a reduction of approximately HKD 35.6 million compared to the previous year[14] - The group maintained a net cash position of approximately HKD 5.2 billion as of June 30, 2020, with bank loans amounting to HKD 2.72 million[15] - The group’s debt-to-equity ratio was only 0.04% as of June 30, 2020, indicating a strong financial position[15] Investment Properties and Fair Value - The fair value of investment properties decreased by HKD 72.5 million, with a total fair value of HKD 15.3 billion as of June 30, 2020[11] - The company reported a net loss of HKD 72,528,000 in fair value of investment properties for the six months ended June 30, 2020, compared to a net gain of HKD 350,127,000 in the same period of 2019[36][37] - The fair value change of investment properties for the six months ended June 30, 2020, was HKD 24,000, compared to a loss of HKD 45,000 in the same period of 2019[43] Dividends and Shareholder Returns - The company announced an interim dividend of HKD 0.22 per share for the six months ended June 30, 2020[5] - The company declared an interim dividend of HKD (165,830,000) for the period, reflecting a commitment to return value to shareholders despite the decrease in profits[28] - The company declared an interim dividend of HKD 0.22 per share for the six months ended June 30, 2020, compared to HKD 0.24 per share in the same period of 2019[44] Employee and Corporate Governance - The company has a total of 344,060,980 shares held by various entities, all representing 49.79% of the total issued shares[76] - The company emphasizes equal opportunity employment and regularly reviews its compensation and benefits plans to align with market practices[78] - The company has been recognized for its commitment to employee training and development, receiving awards for its human resources initiatives since 2011[79] - The company has complied with the Corporate Governance Code as per the Hong Kong Stock Exchange Listing Rules during the six months ending June 30, 2020[80] Financial Reporting and Compliance - The company reported its interim financial results for the six months ending June 30, 2020, in compliance with Hong Kong Accounting Standards[84] - The review of the interim financial report did not reveal any matters that would lead to a belief that the report was not prepared in accordance with the relevant accounting standards[86] - The report emphasizes the responsibility of the board of directors for the preparation and presentation of the interim financial report[85] - The company must comply with the relevant provisions of the listing rules of the Hong Kong Stock Exchange[84] Strategic Focus and Future Outlook - The company aims to explore suitable investment opportunities and maintain operational efficiency to navigate through the ongoing challenges[7] - The company is actively assessing its financial position and performance in light of the ongoing economic challenges posed by the COVID-19 pandemic, indicating a strategic focus on resilience and recovery[30] - The company is subject to various risks and uncertainties that may cause actual results to differ significantly from forward-looking statements[83]

Financial Performance - The total revenue for the year ended December 31, 2019, was HKD 3,062 million, a decrease of 4.3% compared to HKD 3,199 million in 2018[9]. - The profit attributable to shareholders was HKD 1,288 million, down 20.7% from HKD 1,624 million in the previous year[17]. - The basic earnings per share decreased by 5.8% to HKD 1.13, compared to HKD 1.20 in 2018[14]. - The hotel and serviced apartment business recorded revenue of HKD 560 million, a decline of approximately 21.2% year-on-year[26]. - The EBITDA for the hotel and serviced apartment business was HKD 174 million, down about 34.5% compared to the previous year[26]. - Rental income for the group was HKD 913 million, with EBITDA at HKD 798 million, reflecting a slight decrease of 0.1% and 1.1% respectively compared to the previous year[33]. - The travel business generated revenue of HKD 1.345 billion, an increase of 7.1% or HKD 89 million, with EBITDA rising by 57.6% to HKD 94 million[46]. - Overall operating costs decreased by 11% to approximately HKD 211 million, compared to HKD 237 million in the previous year[48]. - The group’s net cash position was approximately HKD 5.2 billion, an increase from HKD 4.7 billion in the previous year, indicating strong financial health[49]. Visitor Trends - The number of visitors to Hong Kong decreased by 14.2% to 55.91 million in 2019, with overnight visitors down 18.8% to 23.75 million[19]. - The group's hotel and serviced apartment business experienced a significant decline in visitor numbers, with overnight visitors to Hong Kong dropping by 57.2% in December compared to the previous year, leading to an overall annual decrease of 18.8% or approximately 5.5 million visitors[30]. Dividend and Shareholder Returns - The company proposed a final dividend of HKD 0.34 per share, totaling an annual dividend of HKD 0.58 per share[18]. - The company reported a final dividend of HKD 0.34 per share for the year ended December 31, 2019, compared to HKD 0.37 per share in 2018[198]. - The interim dividend of HKD 0.24 per share was distributed on October 11, 2019, consistent with the previous year[198]. Business Strategy and Operations - The rental business is expected to be impacted by declining rents due to the economic slowdown[22]. - The company plans to adjust its business strategies in response to the challenging economic environment and seek investment opportunities to enhance profitability[22]. - The group will focus on improving service quality and operational efficiency while maintaining stable rental income and financial resources[22]. Environmental, Social, and Governance (ESG) Initiatives - The group engaged 249 stakeholders in a survey to assess environmental, social, and governance (ESG) issues, which guided its strategic planning[59]. - The group emphasizes sustainable development, aiming to provide financial returns to investors while ensuring sustainable growth for stakeholders and the community[54]. - The group has identified 17 key ESG issues that will guide its business development and operational strategies[61]. - The group has implemented a risk management system that includes risk identification, analysis, response, and monitoring related to ESG factors[56]. - The company has implemented a green environmental program aimed at optimizing environmental facilities and integrating environmental culture into business operations[64]. - The company has reduced electricity consumption by 38.6% in 2019 compared to 2012 through the replacement of old air conditioning units with more energy-efficient systems[70]. - The company actively monitors and recycles materials used in daily operations, such as cooking oil, paper, and plastic bottles[63]. - The company achieved a 167.62% target achievement rate for the central water-cooled chiller system, saving 8.29 million kWh against a goal of 23.95 million kWh over five years[75]. - The group has achieved ISO 14001 certification, confirming the successful implementation of an environmental management system across its properties[88]. Employee and Workforce Management - The group employs 1,507 staff members, with 820 males and 687 females, reflecting a diverse workforce[93]. - Total employee turnover rate is 21.3%, with a higher rate of 24.0% for female employees[94]. - The group provided training to 9,095 employees, achieving a training participation rate of 58%[97]. - Average training hours per employee was 8.8 hours, with professional and technical training accounting for 5,198 participants and 6,682 hours[97]. - Employee training included risk and crisis management training due to frequent social activities in Hong Kong during the year[96]. Corporate Governance - The company complies with the corporate governance code as per the Hong Kong Stock Exchange rules[147]. - The board consists of 13 members, including 5 executive directors, 3 non-executive directors, and 5 independent non-executive directors[148]. - The audit committee includes 3 independent non-executive directors to ensure objectivity in financial oversight[154]. - The company emphasizes the importance of training and professional development for directors and senior management[151]. - The company has established a whistleblowing policy since 2013, encouraging employees to report misconduct confidentially[110]. Risk Management - The company has a comprehensive risk management system to monitor and mitigate various operational risks, including economic downturns and social instability[192]. - The company has established emergency procedures and crisis management plans to mitigate the impact of catastrophic events, rated medium to high risk[180]. - The company closely monitors supplier performance to prevent issues related to product shortages and compliance, ensuring a low risk level[181]. - The company conducts annual risk management workshops to enhance awareness of operational risks and mitigation measures among management and key staff[170]. Community Engagement - The group donated a total of 2,532 kilograms of surplus food to those in need in 2019[120]. - The group collaborated with different charities to support underprivileged communities through donations and events[116]. - The company participated in various environmental activities, including the "Earth Hour" and "Hong Kong No Air Conditioning Night" to promote environmental protection[121].

Financial Performance - Total revenue for the year ended December 31, 2018, was HKD 3,199 million, a slight increase from HKD 3,186 million in 2017, representing a growth of 0.4%[16] - The rental business generated revenue of HKD 914 million in 2018, up from HKD 858 million in 2017, reflecting a growth of 6.5%[16] - Hotel and serviced apartment operations reported revenue of HKD 710 million, an increase from HKD 662 million in 2017, marking a growth of 7.2%[16] - The company’s profit attributable to shareholders for 2018 was HKD 1,624 million, compared to HKD 1,519 million in 2017, indicating a growth of 6.9%[16] - Basic earnings per share for 2018 were HKD 2.36, down from HKD 2.52 in 2017, a decrease of 6.3%[20] - Basic earnings attributable to shareholders (excluding revaluation changes) were HKD 828 million, compared to HKD 764 million in 2017, reflecting an increase of 8.4%[16] - The company’s net asset value attributable to shareholders increased to HKD 19,027 million in 2018 from HKD 17,029 million in 2017, a growth of 11.7%[20] - The company declared a dividend of HKD 0.61 per share for 2018, up from HKD 0.59 per share in 2017, representing a growth of 3.4%[20] - The tourism business generated revenue of HKD 1,256 million, slightly down from HKD 1,272 million in 2017, a decrease of 1.3%[16] Operational Efficiency and Strategic Initiatives - The company is focused on enhancing market competitiveness and expanding its business portfolio through strategic initiatives and brand integration[9] - The group maintained a strong financial position with consolidated net cash of approximately HKD 4.7 billion, up from HKD 3.4 billion in the previous year[54] - The group is committed to improving operational efficiency and regularly creating new dishes and themes to enhance service quality[48] - The group actively seeks new opportunities for brand diversification and business development plans to adapt to the uncertain economic environment[55] Environmental, Social, and Governance (ESG) Initiatives - The group engaged over 160 stakeholders in a survey to understand their concerns and expectations regarding environmental, social, and governance issues[64] - The group aims to provide sustainable growth for stakeholders and the community through active participation in relevant activities[62] - The group identified 16 key issues related to environmental, social, and governance (ESG) matters based on 160 stakeholder surveys, which will guide business development and operational strategies[67] - The group aims to reduce greenhouse gas emissions and air pollutants, with a focus on energy efficiency and effective water usage as primary important issues[73] - The group has invested in green facilities and initiatives to enhance energy efficiency and reduce greenhouse gas emissions, with a target of saving 1,040,000 kWh annually from optimized air conditioning systems[78] - The air conditioning system upgrades have resulted in a 39% reduction in electricity consumption since 2012[78] - The lighting system updates, including the replacement of traditional lights with LED lights, have led to a 4.7% decrease in electricity usage since 2012[79] - The group has implemented energy-saving measures such as installing variable frequency drives on escalators to reduce power consumption during acceleration and deceleration[80] - The group has committed to maintaining indoor temperatures between 24°C and 26°C in public areas as part of its energy-saving initiatives[81] - The environmental policy, approved by the board in 2016, applies to all business operations and emphasizes compliance with environmental laws and standards[74] Employee Engagement and Development - The group employs 1,510 staff members, with 816 males and 694 females, reflecting a diverse workforce[101] - The group has a policy of equal pay and provides competitive benefits, including medical and life insurance, paid marriage leave, and maternity leave[98] - A total of 5,257 training sessions were conducted for employees, with an average training duration of 13.6 hours[104] - The group provided subsidies for sommeliers to visit wineries in France, enhancing their professional development[105] - The group actively supports work-life balance initiatives, including sports activities and wellness facilities for employees[108] Corporate Governance - The company complied with the corporate governance code as per the Hong Kong Stock Exchange Listing Rules throughout the year[169] - The board received annual confirmations of independence from all independent non-executive directors, affirming their independent status[172] - The company’s chairman and CEO roles are held by the same individual, Mr. Li Ka Shing, since June 12, 2014, to ensure effective leadership and strategy execution[169] - The board is responsible for major acquisitions, significant project investments, and annual budgets[173] - The company has a commitment to high standards of corporate governance and compliance with legal and regulatory requirements[175] Risk Management - The group has established a robust risk management framework integrated into daily operations, ensuring effective identification, assessment, and monitoring of risks[189] - The group conducted a dual risk assessment regarding environmental impacts and climate change, incorporating "environmental impact" as a new evaluation criterion[194] - A crisis management committee has been formed, comprising senior management and key personnel, to swiftly address crisis incidents and mitigate their impact on the group[198] - The group has implemented a series of annual tests and drills for business continuity management to ensure effective response during emergencies[193] - The internal audit department operates independently from daily operations and reports directly to the audit committee, ensuring compliance with international professional standards in operational monitoring and risk management[199]