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].

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]