Core Viewpoint - ST Xifa plans to acquire the remaining 50% stake in Lhasa Beer from Carlsberg to enhance asset integrity and operational sustainability, aiming for full ownership of Lhasa Beer [2][7][10] Company Summary - ST Xifa currently holds a 50% stake in Lhasa Beer and has control over its board, making it the controlling shareholder. The acquisition will result in ST Xifa fully owning Lhasa Beer [2][6] - Lhasa Beer achieved a sales volume of 72,400 tons in 2024, representing a year-on-year growth of 10.94% [5][6] - The beer business generated revenue of 420 million yuan in 2024, accounting for 99.71% of ST Xifa's total revenue [6] Industry Context - The Chinese beer industry has reached maturity, with increasing market concentration and a shift towards high-end products. Future trends will focus on premiumization, channel innovation, product diversification, and sustainable development [12] - ST Xifa aims to enhance its brand by focusing on product differentiation, optimizing product structure, and expanding market channels to capture a larger share of the mid-to-high-end market [11][12][13][14]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a net loss attributable to shareholders of HKD 4,000,000, with a loss per share of HKD 0.5 cents, compared to a net loss of HKD 30,100,000 and a loss per share of HKD 3.8 cents for the year ending December 31, 2023[8]. - Total revenue for 2024 was HKD 4,241,300,000, a decrease of 41.7% from HKD 7,274,400,000 in 2023. Property sales revenue fell from HKD 7,246,200,000 in 2023 to HKD 4,224,500,000 in 2024, also a 41.7% decline[12]. - Rental income from investment properties decreased by 41.9% to HKD 15,700,000 in 2024, down from HKD 27,100,000 in 2023[16]. - The total contracted sales amount for the year was approximately HKD 2,280,700,000, down from HKD 4,075,800,000 in 2023[14]. - The company did not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[9]. Asset and Liability Management - The company's net asset value attributable to equity holders was HKD 1,011,200,000 as of December 31, 2024, compared to HKD 1,029,100,000 in 2023, resulting in a net asset value per share of HKD 1.26[10]. - As of December 31, 2024, the group's net borrowings amounted to HKD 3,990,000,000, an increase from HKD 1,012,300,000 in 2023[19]. - The total borrowings reached HKD 4,940,900,000, up from HKD 2,009,800,000 in 2023, with 100% of the borrowings denominated in RMB[20]. - The group's capital to debt ratio was 394.6% as of December 31, 2024, compared to 98.4% in 2023[19]. - The group's cash and bank balances totaled HKD 950,900,000, a slight decrease from HKD 997,500,000 in 2023, with approximately 98.7% in RMB[19]. Market Outlook - The company anticipates that the easing of purchase restrictions and optimized loan conditions in first-tier and certain second- and third-tier cities will support a recovery in the real estate market[11]. - The overall property market remains weak, particularly in Hong Kong, due to high interest rates and a lack of demand and confidence in key sectors such as retail and office spaces[12]. - The group anticipates a gradual recovery in the real estate market in mainland China, supported by ongoing government policies and measures[24]. Corporate Governance - The board consists of six directors, including three executive directors and three independent non-executive directors[40]. - The company has adopted a set of guidelines for regulating securities trading by directors, ensuring compliance with the standards set forth in the Listing Rules[37]. - The board is responsible for the overall strategy, management goals, and monitoring management performance, ensuring corporate governance functions are fulfilled[39]. - The company has established four committees: the remuneration committee, nomination committee, audit committee, and executive committee, each with written terms of reference[43]. - The company has appointed three independent non-executive directors, meeting the requirement that at least one-third of the board consists of independent directors[44]. Risk Management - The company has established a risk management framework to identify and manage risks, including environmental, social, and governance risks[67]. - Management confirmed that the risk management and internal control systems are adequate and effective, with no significant deficiencies identified during the year[63]. - The Audit Committee receives internal audit reports on identified major risk areas and ensures that any significant internal control deficiencies are reported to the Board[68]. - The board is responsible for overseeing the effectiveness of the company's environmental, social, and governance risk management and internal control systems[96]. Employee Management - As of December 31, 2024, the group employed 391 staff members, offering various employee benefits including medical insurance and retirement plans[26]. - The company has established a comprehensive compensation and benefits package for employees, ensuring alignment with performance and shareholder interests[150]. - The total employee turnover rate for 2024 is approximately 18.16%, a significant decrease from 27.43% in 2023[153]. - The company emphasizes a culture of equal opportunity and diversity, ensuring all employees have access to training and career development opportunities[156]. - The company has implemented a comprehensive training program to enhance employee skills and knowledge, including online learning resources for occupational health and safety[164]. Environmental, Social, and Governance (ESG) Initiatives - The company has integrated environmental, social, and governance (ESG) factors into its business strategy to ensure sustainable development[99]. - The company aims to achieve steady progress towards its ESG goals through regular reporting from senior management to the board[100]. - The company has established a community investment policy to encourage employee participation in community projects, focusing on sustainable development and charitable contributions[192]. - The company is actively investing time and resources to address the urgent challenges posed by climate change[198]. - The company has committed to monitoring and disclosing greenhouse gas emissions annually, focusing on direct (Scope 1), energy indirect (Scope 2), and other indirect (Scope 3) emissions[149]. Stakeholder Engagement - The company has established a policy for shareholder communication, which is reviewed annually to ensure effectiveness[80]. - The company provides various formal channels for shareholders to communicate and inquire about company matters[88]. - Senior management maintains good communication with stakeholders to facilitate timely exchanges of opinions, which is crucial for long-term success[200]. - The board has reviewed stakeholder feedback and prioritized ESG issues for better strategic planning and resource allocation[109].

Core Viewpoint - ST Xifa (000752) has been penalized by the China Securities Regulatory Commission (CSRC) for accounting errors, leading to multiple financial data misstatements [1][2] Company Announcement Summary - ST Xifa's stock closed at 7.85 yuan on March 28, 2025, down 2.97% from the previous week's 8.09 yuan, with a total market capitalization of 2.071 billion yuan, ranking 14th out of 16 in the non-wine sector and 4752nd out of 5139 in the A-share market [1] - The company will face additional risk warnings starting June 7, 2024, due to violations of the Shenzhen Stock Exchange listing rules [1] - The CSRC issued an administrative penalty decision on December 9, 2024, regarding the company's financial misstatements [1] Financial Misstatement Details - In 2017, ST Xifa falsely reported a procurement agreement, inflating prepaid accounts by 18 million yuan and misclassifying other receivables by 21 million yuan [2] - The 2018 annual report showed a reduction of other payables by 62.437 million yuan, an inflation of other receivables by 32.563 million yuan, and an inflated investment income of 95 million yuan [2] - The company has committed to rectifying the financial statements for 2018 and subsequent years and is actively working with accounting firms to complete the necessary audits and corrections [2]

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 4,241,331, a decrease of 41.9% from HKD 7,274,368 in 2023[4] - Property sales revenue was HKD 4,224,465, down 41.6% from HKD 7,246,188 in the previous year[4] - Rental income decreased to HKD 15,724, a decline of 42.1% from HKD 27,050 in 2023[4] - The company reported a profit of HKD 21,259 for the year, compared to a loss of HKD 73,794 in 2023[5] - Basic and diluted loss per share for the year was HKD 0.5 cents, improving from a loss of HKD 3.8 cents in the previous year[4] - The group reported a net profit of HKD 21,259 for the year 2024, a significant decrease from a loss of HKD 73,794 in 2023[14] - Financial costs totaled HKD 131,764,000 in 2024, down 49.6% from HKD 261,167,000 in 2023[20] - Pre-tax loss attributable to equity holders was HKD 3,954,000 in 2024, compared to a loss of HKD 30,094,000 in 2023[28] - The group recorded a loss attributable to shareholders of HKD 4,000,000 in 2024, compared to a net loss of HKD 30,100,000 in 2023[35] Assets and Liabilities - Non-current assets totaled HKD 1,021,812, down from HKD 1,430,512 in 2023[6] - Current assets increased to HKD 17,915,847, compared to HKD 14,534,750 in the previous year[6] - The total assets of the group amounted to HKD 18,937,659 in 2024, compared to HKD 15,965,262 in 2023, reflecting an increase of approximately 18.4%[14] - The total liabilities increased to HKD 18,108,103 in 2024 from HKD 15,149,705 in 2023, marking an increase of around 19.5%[14] - Non-current assets decreased to HKD 799,874 in 2024 from HKD 1,232,459 in 2023, representing a decline of approximately 35.1%[17] - Trade payables increased to HKD 1,484,118,000 in 2024 from HKD 458,044,000 in 2023, indicating a rise of 224.5%[29] - The group's net borrowings increased to HKD 3,990,000,000 in 2024 from HKD 1,012,300,000 in 2023, reflecting a significant rise[40] - The capital-to-debt ratio rose to 394.6% in 2024 from 98.4% in 2023, indicating increased leverage[40] Revenue Breakdown - In 2024, the total revenue from operations was HKD 4,241,331, a decrease from HKD 7,274,368 in 2023, representing a decline of approximately 41.5%[14] - The property development and sales segment generated revenue of HKD 4,224,465 in 2024, down from HKD 7,246,188 in 2023, indicating a decrease of about 41.6%[17] - Revenue from property sales dropped to HKD 4,224,465,000 in 2024 from HKD 7,246,188,000 in 2023, reflecting a decline of 41.6%[19] - Rental income from investment properties was HKD 15,700,000 in 2024, down 41.9% from HKD 27,100,000 in 2023[37] - The group achieved contract sales totaling approximately HKD 2,280,700,000 in 2024, down from HKD 4,075,800,000 in 2023[36] Dividends and Shareholder Information - The company did not declare any final dividend for the year[4] - The company did not recommend any final dividend for the year ending December 31, 2024, consistent with 2023[25] - The company has not purchased, sold, or redeemed any of its shares during the year[53] - The company has issued a circular to shareholders containing necessary information for informed voting on the re-election of retiring directors[49] Governance and Compliance - The company has deviated from the Corporate Governance Code C.2.1 by having the same individual, Mr. Huang, serve as both Chairman and CEO, which the board believes promotes effective execution of business strategies[48] - The audit committee consists of three independent non-executive directors, ensuring a balanced distribution of power and authority between the board and management[51] - The company will continue to review the structure and composition of the board to maintain an appropriate balance of power and authority[48] - All directors have confirmed compliance with the established code of conduct for securities trading during the reporting period[50] - The company has adopted accounting principles and practices reviewed by the audit committee, focusing on internal controls and financial reporting[51] - The board includes experienced individuals, including three independent non-executive directors, to safeguard shareholder interests[48] - The audit firm Ernst & Young has reviewed the preliminary financial statements for the year ending December 31, 2024, but their work does not constitute a certification or opinion on the preliminary announcement[52] Market Outlook - The outlook for the real estate market in China is expected to gradually improve, supported by government policies and measures[44] Financial Reporting Standards - The company has adopted new and revised financial reporting standards, which did not impact its financial position or performance[9] - The group is currently assessing the impact of new and revised financial reporting standards, which may lead to changes in accounting policies and financial reporting[11]

中百集团是以商业零售为主业的大型连锁企业，网点数量和经营规模位居湖北市场企业前列。公司近日 在股价异常波动公告中表示，公司组织专班参与同行门店调改学习，并于7月份启动自主调改实践；截 至目前，中百仓储关山光谷店等8家大卖场已重新调改开业。结合门店情况，调改工作还将持续进行。 12月18日，A股全天成交1.38万亿元，较上个交易日缩量1498.77亿元，单日成交额创12月以来新低。 尾盘阶段，部分热门股出现明显异动。比如中百集团，该股昨日冲高回落，收盘股价跌停。今日早盘该 股以跌停价开盘，盘中经过多空较量，成交额放大，尾盘阶段约14时36分，公司股价由跌超4%开始拉 升，很快封住涨停板，收盘时涨停板封单达12.66万手，全天上演了"地天板"的走势。 科技类题材今日表现活跃，人脑工程、AI眼镜、MCU芯片、存储芯片、量子科技、智能穿戴等板块涨 幅居前。鸡肉、预制菜、免税概念、种业、猪肉等板块走弱。 12月18日晚间，永辉超市发布公告，公司全资子公司重庆永辉于2024年12月3日至12月17日交易日期 间，通过集中竞价方式累计出售中百集团共计6710.13万股，占其股本的9.87%，出售金额约为4.4亿 元。本次出 ...

Financial Performance - For the first half of 2024, the total revenue of Y. T. Realty Group Limited was HKD 2,723,500,000, an increase of 137.2% compared to HKD 1,148,200,000 in the same period last year[4]. - Property sales revenue rose by 138.9% to HKD 2,709,300,000 from HKD 1,134,200,000 in the previous year[4]. - The net profit attributable to shareholders for the first six months of 2024 was HKD 13,200,000, a significant recovery from a loss of HKD 117,100,000 in the same period last year[4]. - Total revenue for the six months ended June 30, 2024, was HKD 2,723,478,000, a significant increase of 137.5% compared to HKD 1,148,217,000 in the same period of 2023[25]. - The gross profit for the period was HKD 584,554,000, representing a 133.2% increase from HKD 250,823,000 in the previous year[25]. - The company reported a profit before tax of HKD 158,130,000, compared to a loss of HKD 149,964,000 in the same period last year[25]. - The net profit for the period was HKD 15,654,000, a turnaround from a loss of HKD 133,384,000 in the prior year[25]. - Basic and diluted earnings per share for the company were HKD 0.017, compared to a loss per share of HKD 0.146 in the previous year[25]. - The adjusted profit before tax for the group was HKD 158,130,000, compared to a loss of HKD 149,964,000 for the same period in 2023, indicating a turnaround in performance[39]. - The group reported a profit for the period of HKD 15,654,000, a significant improvement from a loss of HKD 133,384,000 in the previous year[39]. Revenue Sources - The property development and sales segment generated revenue of HKD 2,709,273,000, while the property investment segment contributed HKD 13,742,000, and the financial management segment added HKD 463,000[38]. - Contractual customer revenue from property sales reached HKD 2,709,273,000, compared to HKD 1,134,233,000 in 2023, marking an increase of about 138.0%[44]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 16,599,902,000, an increase from HKD 15,965,262,000 as of December 31, 2023[39]. - The total liabilities stood at HKD 15,786,579,000, compared to HKD 15,149,705,000 at the end of 2023, reflecting an increase in financial obligations[39]. - Total assets less current liabilities increased to HKD 3,574,789,000 as of June 30, 2024, compared to HKD 2,661,894,000 in December 2023, representing a growth of approximately 34.2%[28]. - Current liabilities totaled HKD 13,025,113,000, down from HKD 13,303,368,000, reflecting a decrease of approximately 2.1%[28]. - Non-current liabilities increased to HKD 2,761,466,000 from HKD 1,846,337,000, representing a rise of about 49.5%[28]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2024, was a net outflow of HKD 1,100,347, compared to a net inflow of HKD 699,871 for the same period in 2023[32]. - Cash flow from investing activities showed a net inflow of HKD 2,112, reversing a net outflow of HKD 38,576 in the previous year[32]. - The company acquired investment properties worth approximately HKD 33,291,000 during the period, compared to HKD 37,028,000 in the same period of 2023[61]. Borrowings and Financial Management - As of June 30, 2024, the group's net borrowings amounted to HKD 2,208,400,000, an increase from HKD 1,012,300,000 as of December 31, 2023[10]. - The total borrowings as of June 30, 2024, were HKD 3,021,600,000, up from HKD 2,009,800,000 at the end of 2023, with 100% of the borrowings denominated in RMB[10]. - Total interest expenses amounted to HKD 667,857,000, down from HKD 740,172,000 in the previous year, reflecting a decrease of approximately 9.8%[53]. - The company’s bank loans secured by shares of non-wholly owned subsidiaries amounted to HKD 762,621,000, compared to HKD 658,617,000 at the end of 2023, marking an increase of 15.8%[69]. Market Outlook - The group anticipates a gradual recovery in the real estate market in mainland China, supported by government policies aimed at economic growth[9]. - The group expects moderate economic growth in Hong Kong, influenced by various factors including US interest rates and local consumer spending[9]. Employee and Governance - As of June 30, 2024, the group had 325 employees and offers various employee benefits including medical insurance and retirement plans[14]. - The board did not recommend the distribution of an interim dividend for the six months ended June 30, 2024[15]. - The company has maintained compliance with the corporate governance code, with some deviations noted regarding the roles of the chairman and CEO[22]. Property and Investment Performance - The total value of completed properties held for sale increased to HKD 2,271,088,000 from HKD 1,841,803,000, an increase of approximately 23.3%[28]. - The company reported a significant increase in the value of land use rights for property development, rising to HKD 525,548,000 from HKD 40,921,000, a growth of approximately 1,187.5%[28]. - The company’s guarantees for mortgage loans are secured by the relevant properties, which can be liquidated if buyers default[80].

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 2,733,478, an increase of 139.5% compared to HKD 1,148,217 in the same period of 2023[2] - The company reported a gross profit of HKD 584,554 for the first half of 2024, compared to HKD 250,823 in the same period of 2023, representing a 133.3% increase[2] - The net profit for the period was HKD 15,654, a significant recovery from a loss of HKD 133,384 in the first half of 2023[2] - The company reported a significant increase in property sales revenue, reaching HKD 2,709,273, compared to HKD 1,134,233 in the same period of 2023, marking an increase of 138.0%[2] - Total revenue for the six months ended June 30, 2024, was HKD 2,723,478,000, with property development and sales contributing HKD 2,709,273,000[10] - The adjusted profit before tax for the group was a loss of HKD 16,369,000, with total tax expenses amounting to HKD 158,130,000[10] - The group reported a loss of HKD 859,000 related to the fair value of investment properties under development and properties held for sale[10] - The company reported a loss before tax of HKD 149,964 for the six months ended June 30, 2024, compared to a loss of HKD 133,384 for the same period in 2023[22] - The total tax expense for the six months ended June 30, 2024, was HKD 142,476, compared to a tax credit of HKD 16,580 for the same period in 2023[21] - The group reported a net profit attributable to shareholders of HKD 13,200,000 for the first half of 2024, compared to a loss of HKD 117,100,000 in the same period last year[26] Assets and Liabilities - The company’s total assets as of June 30, 2024, amounted to HKD 15,132,669, compared to HKD 14,534,750 as of December 31, 2023, reflecting an increase of 4.1%[4] - The company’s total liabilities decreased to HKD 13,025,113 from HKD 13,303,368, a reduction of 2.1%[5] - Total assets as of June 30, 2024, reached HKD 29,272,000,000, while total liabilities were HKD 39,834,000,000[10] - The total borrowings reached HKD 3,021,600,000, up from HKD 2,009,800,000 as of December 31, 2023, with 100% of the borrowings denominated in RMB[34] - The group's total borrowings due within one year amounted to HKD 316.9 million, representing 10.5% of total borrowings[34] Cash Flow and Expenditures - The company’s cash and bank balances decreased to HKD 813,203 from HKD 997,547 at the end of 2023, a decline of 18.5%[4] - Capital expenditures for the period amounted to HKD 34,432,000, with significant investments in property development and management[10] - Capital expenditures for the six months ended June 30, 2024, were HKD 39,133, compared to HKD 39,133 in the same period of 2023[13] - The group actively manages its financial resources and has established appropriate financing plans for working capital and capital expenditures[34] Earnings Per Share - The company’s basic and diluted earnings per share for the period was HKD 1.7 cents, recovering from a loss of HKD 14.6 cents in the same period of 2023[2] - The basic earnings per share for the six months ended June 30, 2024, was HKD 0.0165, compared to a loss per share of HKD 0.146 for the same period in 2023[23] Market Outlook and Strategy - The group anticipates continued economic challenges in the second half of 2024, with a focus on stabilizing growth in the real estate market in China[31] - The UK economic outlook remains uncertain, with potential fluctuations in growth depending on interest rate cuts and global conditions[32] - The group plans to cautiously seek investment opportunities in stable property markets to promote sustainable growth[33] - The group expects gradual improvement in its real estate business in mainland China due to government support for economic growth and the real estate market[33] Employee and Corporate Governance - The group has 325 employees as of June 30, 2024, and offers various employee benefits including medical insurance and retirement plans[37] - The board of directors did not recommend the distribution of an interim dividend for the period ending June 30, 2024[38]

Risk Management and Governance - The company has established a risk management framework that includes the board of directors, audit committee, internal audit function, and management to oversee risk management and internal control systems[13]. - The audit committee consists of three independent non-executive directors and meets at least twice a year with external auditors to ensure the effectiveness of financial reporting and risk management systems[6]. - There were no significant monitoring failures or deficiencies identified during the year, and the company maintained sufficient resources and training for its accounting and internal audit functions[8]. - The audit committee reviewed the independence and objectivity of the external auditor, Ernst & Young, and recommended their reappointment for the upcoming year[7]. - The board of directors has conducted meetings to review compliance with risk management and internal control codes, confirming no errors or irregularities were found[17]. - The company has maintained a sufficient risk management and internal control system throughout the year, ensuring operational efficiency and compliance with laws and regulations[8]. - The audit committee plays a crucial role in monitoring the company's financial reporting system and risk management processes, holding regular meetings to discuss identified risks[7]. - The board is committed to integrating risk management features into business operations and property investments, ensuring a robust risk management policy[20]. - The risk management procedures include identifying risk factors, analyzing risk levels, and implementing monitoring mechanisms to mitigate business disruptions[20]. - The company plans to conduct a comprehensive review of its risk scope at least annually to monitor changes and the effectiveness of control mechanisms[20]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a comprehensive governance framework to support its sustainable development strategy, with annual reviews of its environmental, social, and governance (ESG) policies[33]. - The board is responsible for overseeing the effectiveness of the company's ESG risk management and internal control systems, with diverse skills and experience among its members[33]. - The company has identified 16 significant environmental, social, and governance (ESG) issues that impact stakeholders and the economy, which are prioritized for strategic planning[58]. - The board and senior management have engaged in assessing the importance of ESG issues, collecting stakeholder feedback through surveys[58]. - The company is committed to reducing its operational environmental impact, focusing on air pollutants, greenhouse gas emissions, and wastewater management[65]. - The company has set a greenhouse gas emission reduction target to decrease its emission intensity (tons of CO2 equivalent per million revenue) by 3% from the 2021 baseline by 2026[90]. - The company aims to reduce the total disposal intensity of non-hazardous waste (tons per million revenue) by 3% from the 2021 baseline by 2026[90]. - The total energy consumption intensity (kWh per million revenue) is targeted to decrease by 3% from the 2021 baseline by 2026[90]. - Water consumption intensity (cubic meters per million revenue) is also set to decrease by 3% from the 2021 baseline by 2026[90]. - The company has adopted a comprehensive corporate social responsibility policy to guide its sustainable development strategy[108]. Financial Performance - The company reported a total revenue of HKD 2,450 million for the fiscal year ending December 31, 2023[37]. - The total expenses for non-audit services amounted to HKD 3,116 million[38]. - The total revenue for 2023 was approximately HKD 7,274,368,000, a significant increase from HKD 2,706,963,000 in 2022[100]. - The net loss attributable to shareholders for the year ended December 31, 2023, was HKD 30,100,000, with a loss per share of HKD 0.038, compared to a loss of HKD 476,000,000 and a loss per share of HKD 0.595 for the year ended December 31, 2022[196]. - As of December 31, 2023, the net asset value attributable to shareholders was HKD 1,029,100,000, down from HKD 1,053,000,000 as of December 31, 2022, resulting in a net asset value per share of HKD 1.29 compared to HKD 1.32 in the previous year[196]. - The company did not recommend a final dividend for the year ended December 31, 2023, consistent with the previous year, and no interim dividend was declared[196]. Employee and Workplace Practices - The employee gender ratio as of December 31, 2023, is 63.2% male and 36.8% female, with a commitment to gradually increase the proportion of female employees[40]. - The overall employee turnover rate for 2023 was approximately 27.43%, a decrease from 39.76% in 2022[138]. - The group maintained a zero fatality rate in workplace accidents for three consecutive fiscal years, with no recorded work-related deaths in 2023[146]. - The group provides competitive compensation packages, including medical insurance, retirement plans, and training allowances, to attract and retain talent[141]. - The group emphasizes a fair and transparent recruitment process, ensuring equal opportunities regardless of gender, race, or other personal characteristics[138]. - In 2023, approximately 99.65% of employees participated in training, an increase from 97.59% in 2022[150]. - The average training hours per employee in 2023 were approximately 8.65 hours, down from 11.30 hours in 2022[150]. - The company believes that training and development are crucial for achieving both personal and corporate goals[150]. Community Engagement and Charitable Activities - In 2023, the group donated RMB 1,600,000 to the "Meishan Charity Association" for funding community support projects[181]. - The group plans to increase its charitable efforts to meet community needs, focusing on social welfare, education, health, and culture[181]. - The group encourages employee participation in community activities, including charitable fundraising and volunteer work[181]. Compliance and Ethical Standards - The company emphasizes the importance of protecting customer privacy, with strict management requirements in place to safeguard personal information[173]. - The group has implemented a whistleblowing procedure for employees to report misconduct confidentially[178]. - The group has not been aware of any significant violations of anti-corruption laws that have materially affected its operations in 2023[178]. - The group reported no concluded corruption lawsuits against it or its employees in 2023[178].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 7,274,368,000, a significant increase from HKD 2,706,963,000 in 2022, representing a growth of approximately 169%[4] - Property sales accounted for HKD 7,246,188,000, compared to HKD 2,681,239,000 in the previous year, indicating a growth of about 170%[4] - The company reported a loss of HKD 73,794,000 for the year, a substantial improvement from a loss of HKD 684,621,000 in 2022, reflecting a reduction in losses by approximately 89%[4] - The gross profit for the year was HKD 1,074,063,000, compared to HKD 125,937,000 in 2022, marking an increase of around 752%[4] - The company reported a pre-tax loss of HKD 789,566 for 2023, an improvement from a loss of HKD 684,621 in 2022[28] - The company recorded a loss attributable to shareholders of HKD 30,100,000 in 2023, a substantial improvement from a net loss of HKD 476,000,000 in 2022, resulting in a loss per share of HKD 0.038 compared to HKD 0.595 in the previous year[42] Assets and Liabilities - The total assets decreased to HKD 16,965,262,000 in 2023 from HKD 18,331,165,000 in 2022, a decline of approximately 7%[7] - Current liabilities decreased to HKD 13,303,368,000 in 2023 from HKD 15,152,324,000 in 2022, a reduction of about 12%[7] - The total liabilities decreased from HKD 17,452,514 in 2022 to HKD 17,452,514 in 2023, with total assets also showing a slight increase to HKD 18,331,165[19] - Total assets amounted to HKD 15,965,262, with total liabilities at HKD 15,149,705, indicating a healthy asset-to-liability ratio[17] - The company's net borrowings as of December 31, 2023, were HKD 1,012,300,000, down from HKD 1,929,000,000 in 2022, with total borrowings of HKD 2,009,800,000[49] - The capital-to-debt ratio improved to 98.4% in 2023 from 183.2% in 2022, indicating better financial stability[49] Dividends and Shareholder Value - The company did not declare any final dividend for the year, consistent with the previous year[4] - The company did not recommend any final dividend for the year ending December 31, 2023, consistent with the previous year[30] - The net asset value attributable to equity holders of the company was HKD 1.29 per share in 2023, slightly down from HKD 1.32 per share in 2022[4] - As of December 31, 2023, the company's net asset value attributable to equity holders was HKD 1,029,100,000, down from HKD 1,053,000,000 in 2022, resulting in a per share net asset value of HKD 1.29 compared to HKD 1.32 in the previous year[38] Operational Highlights - The company recognized a foreign exchange gain of HKD 13,292,000 in 2023, compared to a loss of HKD 142,954,000 in 2022, indicating a positive turnaround in foreign exchange impacts[5] - The total revenue for the property development and sales segment was HKD 7,246,188, while the property investment segment generated HKD 27,050[17] - The adjusted profit before tax for the property development and sales segment was HKD 375,326, with the property investment segment reporting a loss of HKD 108,398[17] - The company continues to monitor its operational segments closely to make informed decisions regarding resource allocation and performance evaluation[15] - Rental income from investment properties increased by 5.9% to HKD 27,100,000 in 2023, compared to HKD 25,500,000 in the previous year, with a 100% occupancy rate for properties in the UK[46] Economic Outlook - The economic outlook for 2024 is expected to be challenging, with high interest rates likely to persist until inflation is within the desired range, influenced by geopolitical uncertainties[54] - In mainland China, the government is anticipated to continue implementing proactive monetary policies and fiscal stimulus to support economic stability and the real estate market[56] - The UK economy is expected to experience fluctuations, with a weak overall real estate market, although London may show more resilience compared to other regions[56] - In Hong Kong, economic growth is projected to be affected by the US interest rate cycle, with the local real estate market remaining weak due to high interest rates[56] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the group's accounting principles and internal controls for the year ending December 31, 2023[63] - The group did not engage in any share buybacks, sales, or redemptions during the year[65] - The group aims to adopt a prudent and proactive approach in business operations and development, seeking investment opportunities in a stable long-term real estate market[57] Employee Information - As of December 31, 2023, the group employed 288 staff members and provides various employee benefits, including medical insurance and retirement plans[58]

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的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 渝 太 地 產 集 團 有 限 公 司* Y. T. REALTY GROUP LIMITED (於百慕達註冊成立之有限公司) (股份代號：00075) 2023 年中期業績公告 渝太地產集團有限公司(「本公司」)之董事會(「董事會」或「董事」)欣然宣佈本公司及其附屬公司 (統稱「本集團」)截至2023年6月30日止6個月之未經審核綜合業績。 綜合損益表 截至2023年6月30日止6個月 未經審核 截至6月30日止6個月 附註 2023年 2022年 港幣千元 港幣千元 收入 2, 3 出售物業 1,134,233 496,998 租金收入 13,427 12,666 利息收入 557 - 收入總額 1,148,217 509,664 銷售成本 (897,394) (308,166) 毛利 250,823 201,498 其他收入及盈利 5,033 4,740 其他支出及虧損 (80) (1,719) 銷 ...