Financial Performance - Sino Land Company reported a significant increase in revenue, achieving HKD 5.2 billion for the first half of the fiscal year, representing a 15% year-over-year growth[4]. - The company’s net profit for the period was HKD 1.8 billion, reflecting a 10% increase compared to the same period last year[4]. - For the six months ending December 31, 2023, the group's unaudited profit attributable to shareholders was HKD 2.944 billion, compared to HKD 2.803 billion in 2022, representing an increase of 5%[6]. - The basic earnings per share for the interim period was HKD 0.35, slightly down from HKD 0.36 in 2022[6]. - Revenue for the six months ended December 31, 2023, was HKD 4,922,801,825, a decrease of 22.8% compared to HKD 6,382,562,292 for the same period in 2022[25]. - Gross profit for the same period was HKD 1,921,148,614, down from HKD 2,780,700,567, reflecting a decline in gross margin[25]. - Net profit for the period was HKD 2,628,542,479, an increase of 6.8% from HKD 2,460,271,746 in the previous year[26]. - Total comprehensive income for the period was HKD 2,830,971,170, up from HKD 2,233,180,306 in the previous year[26]. Revenue Sources - The total property sales revenue attributable to the group was HKD 6.634 billion, a significant increase from HKD 3.899 billion in 2022, marking a growth of 70%[8]. - Property sales revenue amounted to HKD 2,359,711,780, down from HKD 3,947,351,849, reflecting a decline of 40.2% year-on-year[37]. - Hotel operations generated revenue of HKD 501,891,033, an increase of 10.3% from HKD 455,151,150 in the previous year[37]. - Revenue from operating leases was HKD 1,389,249,793, slightly up from HKD 1,356,230,715, indicating a growth of 2.4%[37]. Market Expansion and Development - The company is actively expanding its market presence, with plans to launch two new residential projects in Hong Kong by Q3 2024[4]. - The group plans to launch several new projects, including ONE CENTRAL PLACE in Central and Pak Long III in Yuen Long, which have received pre-sale consent[8]. - The group anticipates obtaining pre-sale consent for two additional residential projects in 2024, depending on market conditions[8]. - The group acquired three land parcels with a total floor area of over 806,000 square feet during the interim period, demonstrating confidence in the Hong Kong market[23]. Corporate Governance and Sustainability - Sino Land is committed to enhancing corporate governance practices, with new policies implemented to ensure compliance with regulatory standards[4]. - The company was selected for the Dow Jones Sustainability Asia Pacific Index for the second consecutive year, ranking in the top 20% for sustainability performance in the Asia Pacific region[19]. - The company achieved a "TA" rating in the MSCI ESG rating and received a five-star rating in the Global Real Estate Sustainability Benchmark, reflecting its commitment to corporate governance and sustainable development[19]. - The company won multiple awards for its sustainable development efforts, including the "Green Building Leadership Award" and three awards at the "2023 United Nations Sustainable Development Goals Hong Kong Achievement Awards"[19]. Community Engagement - The company distributed over 2,000 festive gift packs and mooncakes to underprivileged families in various districts, continuing its commitment to community care[21]. - The company organized a series of festive activities during Christmas, benefiting over 1,000 individuals in need[21]. - The company supports arts and culture initiatives, including establishing a permanent office for the Hong Kong Arts Development Council and hosting various community events[20]. Financial Position - The group reported a strong financial position with cash and bank deposits of HKD 44.13 billion as of December 31, 2023, and net cash of HKD 43.29 billion after deducting total borrowings of HKD 8.32 billion[18]. - The company's net asset value per share as of December 31, 2023, was HKD 19.28, slightly down from HKD 19.87 on June 30, 2023[18]. - The total equity as of December 31, 2023, is HKD 165,245,524,849, an increase from HKD 163,104,843,499 as of June 30, 2023, representing a growth of approximately 1.3%[28]. - The company reported a net asset value of HKD 170,606,786,249, an increase from HKD 168,369,004,331[27]. Challenges and Adjustments - The investment property revaluation loss for the interim period was HKD 141 million, a decrease from a loss of HKD 340 million in 2022[6]. - Net rental income decreased by 0.7% to HKD 1.469 billion, down from HKD 1.480 billion, primarily due to additional leasing-related costs and increased maintenance expenses[14]. - The overall occupancy rate of the investment property portfolio was 90.8%, a decrease of 0.3 percentage points from 91.1% in the previous year[14]. - The company is actively seeking new strategies to enhance hotel service quality and efficiency in response to changing consumer patterns and rising inflation[15]. Future Outlook - Future outlook remains positive, with management guiding for a projected revenue growth of 12% for the next fiscal year[4]. - The group is optimistic about the medium to long-term prospects of the mainland real estate market, supported by recent government policies to stimulate demand[18]. - The central government continues to adjust policies to stimulate economic activity, particularly in the real estate sector, supporting a positive financial cycle[22].

Financial Performance - The group's unaudited profit attributable to shareholders for the six months ended December 31, 2023, was HKD 2.944 billion, compared to HKD 2.803 billion in 2022, representing an increase of 5%[1]. - The net profit for the interim period, after accounting for a revaluation loss of HKD 141.9 million, was HKD 2.615 billion, up from HKD 2.459 billion in 2022, reflecting a growth of 6.4%[1]. - The group's revenue for the six months ended December 31, 2023, was HKD 4,922,801,825, a decrease of 22.8% compared to HKD 6,382,562,292 for the same period in 2022[23]. - The net profit for the same period was HKD 2,628,542,479, representing an increase of 6.8% from HKD 2,460,271,746 in the previous year[24]. - The total comprehensive income for the six months ended December 31, 2023, was HKD 2,830,971,170, an increase from HKD 2,233,180,306 in the previous year[24]. - Basic earnings per share for the six months ended December 31, 2023, were HKD 2,615,953,914, compared to HKD 2,459,821,495 for the same period in 2022, reflecting an increase of about 6.4%[36]. - The group’s basic profit attributable to shareholders was HKD 2,944,693,000, up from HKD 2,802,368,922 in the previous year, marking an increase of approximately 5.1%[38]. Property Sales and Revenue - Total property sales revenue for the interim period was HKD 6.6349 billion, a significant increase from HKD 3.8994 billion in 2022, marking a growth of 70.5%[3]. - The property sales segment generated revenue of HKD 3,947,351,849, with a corresponding profit of HKD 1,196,721,397, compared to HKD 4,832,856,025 and HKD 517,735,666 in the previous year, indicating a significant drop in both revenue and profit[29]. - The group sold 6.5% of the new residential project in Wong Chuk Hang and 26.7% of the project in Tseung Kwan O during the interim period[3]. Rental Income and Occupancy - Total rental income for the interim period was HKD 1.7767 billion, an increase of 2.8% from HKD 1.7283 billion in 2022[7]. - The net rental income decreased by 0.7% to HKD 1.4699 billion, primarily due to additional leasing-related costs from new projects and increased maintenance expenses[7]. - The overall occupancy rate of the investment property portfolio was 90.8%, a decrease of 0.3 percentage points compared to the previous year[8]. - Residential properties saw the largest increase in occupancy, rising by 7.8 percentage points to 87.9%[8]. Land Reserves and Acquisitions - The group has land reserves of approximately 19.5 million square feet, with a balanced property type distribution: 47.3% commercial, 28.6% residential, 10.1% industrial, 8% parking, and 6% hotel[4]. - The group acquired two plots of land from the Hong Kong government during the interim period, adding a total of 806,145 square feet to its land reserves[4]. - The group acquired three plots of land during the interim period, increasing its land bank to a total floor area of 19,500,000 square feet, demonstrating commitment to Hong Kong's real estate market[21]. Hotel Operations - Hotel revenue for the interim period was HKD 810.9 million, up from HKD 692.8 million in the same period last year, with operating profit increasing to HKD 253.5 million[10]. - The hotel operations segment reported revenue of HKD 455,151,150 and a profit of HKD 206,009,341, compared to HKD 501,891,033 and HKD 189,251,526 in the prior year, reflecting a decrease in revenue by approximately 9.3%[31]. - The group is actively seeking new strategies to enhance hotel service quality and efficiency in response to changing consumer patterns and rising inflation[10]. Sustainability and Governance - The company was selected for the Dow Jones Sustainability Asia Pacific Index for the second consecutive year, ranking in the top 20% for sustainability performance in the Asia Pacific region[15]. - The company achieved an "AA" rating in the MSCI Environmental, Social, and Governance (ESG) Index in 2023 and received a five-star rating in the Global Real Estate Sustainability Benchmark[15]. - The company has been recognized with multiple awards for its sustainability efforts, including the "Green Building Leadership Award" and three awards at the United Nations Sustainable Development Goals Hong Kong Achievement Awards[15]. - The company is committed to reducing carbon emissions and has received certification for its science-based short-term reduction targets from the Science Based Targets initiative (SBTi)[17]. - The company has launched the "CORAL REEFStoration" initiative to restore coral fragments and educate the public about marine biodiversity[17]. - The company is actively promoting community engagement through various cultural and sports activities, including partnerships with local art organizations[17]. - The company has maintained high transparency and governance standards by establishing various committees to oversee its operations[14]. - The company is focused on sustainable development through three key elements: "Green Living," "Innovative Concepts," and "Community Care"[15]. - The company has been upgraded to "AA+" in the Hang Seng Sustainable Development Corporate Benchmark Index[15]. Economic Outlook - The unemployment rate in Hong Kong has decreased to 2.9%, and the population has rebounded from 7.2 million in mid-2022 to 7.5 million by the end of 2023, indicating a positive economic outlook[20]. - The total number of visitors to Hong Kong reached approximately 34 million, recovering to 52.2% of the 65.1 million visitors in 2018[8]. - The global economic recovery from the pandemic may be impacted by geopolitical factors, trade tensions, and supply chain adjustments[18]. - The Hong Kong government has implemented measures to stimulate the real estate market, including reducing stamp duty rates from 15% to 7.5% for buyers, which may positively impact the group's operations[20]. Financial Position - The group maintains a strong financial position with cash and bank deposits of HKD 44.13 billion and net cash of HKD 43.29 billion as of December 31, 2023[13]. - As of December 31, 2023, total non-current assets amounted to HKD 112.41 billion, a slight increase from HKD 111.63 billion as of June 30, 2023, reflecting a growth of approximately 0.7%[25]. - Current assets decreased to HKD 66.68 billion from HKD 67.64 billion, representing a decline of about 1.4%[25]. - Total liabilities decreased from HKD 10.90 billion to HKD 8.48 billion, indicating a reduction of approximately 22.2%[25]. - Shareholders' equity increased to HKD 164.52 billion from HKD 162.35 billion, marking a growth of about 1.3%[26]. - The company reported a net current asset value of HKD 58.20 billion, up from HKD 56.74 billion, which is an increase of approximately 2.6%[25]. - The total assets less current liabilities stood at HKD 170.61 billion, compared to HKD 168.37 billion, reflecting an increase of about 1.3%[26]. - The company’s bank borrowings due after more than one year remained stable at HKD 831.99 million[26]. - The company’s reserves decreased slightly from HKD 101.91 billion to HKD 101.21 billion, a decline of approximately 0.7%[26]. - The company’s investment properties were valued at HKD 66.17 billion, showing a marginal increase from HKD 66.01 billion[25]. - The company’s long-term receivables decreased from HKD 3.44 billion to HKD 3.26 billion, a decline of about 5.2%[25]. Management and Governance - The board declared an interim dividend of HKD 0.15 per share, consistent with the previous year[1]. - The board believes that the current management structure effectively supports the company's operations and business development[48]. - The interim results for the six months ended December 31, 2023, have been reviewed by the audit committee and KPMG[49].

Financial Performance - The group's revenue for 2023 was HKD 11,881,285,263, a decrease of 23.5% compared to HKD 15,554,174,570 in 2022[6] - The underlying operating profit for 2023 was HKD 6,088,207,820, down from HKD 6,530,663,998 in 2022, representing a decline of 6.8%[6] - Profit attributable to shareholders for 2023 was HKD 5,849,379,302, compared to HKD 5,735,396,549 in 2022, showing a slight increase of 2%[6] - Basic earnings per share for 2023 were 76.71 cents, down from 86.58 cents in 2022, reflecting a decrease of 11.5%[6] - The interim dividend for 2023 was maintained at 15.0 cents per share, consistent with the previous year[6] - The final dividend proposed for 2023 is 43.0 cents per share, an increase from 42.0 cents in 2022[6] Market Strategy and Outlook - The company plans to continue its market expansion strategy, focusing on sustainable development initiatives[4] - Future guidance indicates a cautious outlook due to market volatility, with a focus on maintaining profitability and shareholder returns[4] Property Sales and Development - Total revenue from property sales for the fiscal year was HKD 119.373 billion, with significant contributions from completed residential projects[13] - The property sales segment accounted for 44.4% of total revenue, while property leasing contributed 43.9% for the fiscal year ending June 30, 2023[11] - The group has land reserves of approximately 19.5 million square feet across mainland China, Hong Kong, Singapore, and Sydney, with a balanced property type distribution: 46.8% commercial, 27.9% residential, 11.3% industrial, 8% parking, and 6% hotel[15] - The group expects to receive pre-sale consent for a residential project in Yau Tong during the fiscal year 2023/2024, in addition to several projects already approved for sale[14] Financial Position and Assets - The total equity attributable to shareholders increased to HKD 162.349 billion in 2023 from HKD 157.397 billion in 2022, reflecting a growth of approximately 3.6%[8] - Non-current assets increased to HKD 111.629 billion in 2023 from HKD 107.559 billion in 2022, indicating a growth of approximately 2.0%[8] - The total assets of the group reached HKD 168.369 billion in 2023, up from HKD 163.879 billion in 2022, marking an increase of approximately 2.9%[8] Rental Income and Occupancy - Total rental income for the fiscal year was HKD 3.548 billion, a decrease of 1.1% year-on-year[22] - Net rental income fell to HKD 2.985 billion, down 3.7% from the previous year[22] - Overall occupancy rate of the investment property portfolio increased to 91.2%, up 0.4 percentage points year-on-year[24] - Retail property occupancy rose by 2.1 percentage points to 95%[24] Sustainability and Corporate Social Responsibility - The group achieved an AA rating in the Hang Seng Sustainability Index and was recognized as a top ten company in the Greater Bay Area Sustainability Index[32] - The group was awarded the highest five-star rating in the GRESB real estate assessment and recognized as a global industry leader in sustainability[32] - The group has committed to climate risk assessments covering over 170 existing and new properties, following TCFD recommendations[33] - The group received the Hong Kong Sustainable Development Award for Large Organizations, recognizing its efforts in promoting ESG and sustainability[32] Employee Development and Corporate Culture - The group employed approximately 9,700 employees as of June 30, 2023, and has implemented various training programs to enhance employee development and satisfaction[109] - Over 156,500 hours of training were provided to employees during the fiscal year 2022/2023, focusing on customer service quality, business skills, and enhancing awareness of innovation and digitalization[112] - The group received multiple awards, including the "Best Employer - Outstanding Award" and "Best Corporate Social Responsibility Award - Outstanding Award" at the CTgoodjobs Best HR Awards 2022[111] Governance and Risk Management - The board consists of 12 directors, including 6 executive directors, 2 non-executive directors, and 4 independent non-executive directors[177] - The board is committed to maintaining high standards of corporate governance, which is essential for prudent financial management and sustainable business growth[175] - The company has established a governance mechanism to ensure independent viewpoints and opinions are obtained for board discussions[184] Community Engagement and Initiatives - The company is actively involved in the "Elderly-Youth Connection Program," expecting to engage over 1,000 medical students and provide services to 10,000 elderly individuals[35] - The community kitchen initiative provided 2,000 free vegetarian meal boxes monthly to underprivileged individuals[171] - The company distributed 200 care packages containing essential food items to grassroots families and fishermen in the vicinity of Causeway Bay and Aberdeen[167]

Financial Performance - The group's basic profit attributable to shareholders for the fiscal year ended June 30, 2023, was HKD 6.088 billion, a decrease of 10.2% from HKD 6.530 billion in the previous fiscal year[1]. - The company's revenue for the fiscal year ending June 30, 2023, was HKD 11,881,285,263, a decrease of 23.5% compared to HKD 15,554,174,570 in the previous year[31]. - The net profit attributable to shareholders was HKD 5,880,458,454, slightly down from HKD 5,964,709,321 in the previous year, reflecting a decrease of 1.4%[32]. - The company reported a gross profit of HKD 5,388,756,406, down 34.5% from HKD 8,252,310,419 in the previous year, highlighting challenges in maintaining profitability[31]. - The pre-tax profit for the year ended June 30, 2023, was HKD 6,741,293,282, down from HKD 7,313,816,816 in the previous year, indicating a decrease of about 7.8%[42]. - The basic earnings attributable to shareholders for the year amounted to HKD 6,088,207,820, a decrease of approximately 6.8% from HKD 6,530,663,998 in the previous year[50]. Property Sales and Revenue - The group's total property sales revenue for the fiscal year was HKD 11.937 billion, an increase of 8.5% from HKD 10.841 billion in the previous fiscal year[4]. - Revenue from property sales reached HKD 12.06 billion, significantly up from HKD 3.04 billion in the previous period, marking an increase of approximately 296%[37]. - Revenue from property leasing rose to HKD 3.53 billion in 2023, compared to HKD 3.01 billion in 2022, an increase of about 17.5%[37]. - The group sold 23.6% of the residential project in Tseung Kwan O during the fiscal year, with other projects achieving sales rates of 78.5% and 88%[4]. - Revenue from property sales amounted to HKD 11,129,690,462, while property leasing generated HKD 2,738,482,414, showing a significant contribution to total revenue[39]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.43 per share, totaling HKD 0.58 per share for the fiscal year, including an interim dividend of HKD 0.15[2][3]. - The company plans to distribute a final dividend of HKD 0.43 per share, compared to HKD 0.42 per share in the previous year, indicating a commitment to returning value to shareholders[31]. Financial Position and Assets - As of June 30, 2023, the group has cash and bank deposits amounting to HKD 43.93 billion, with net cash of HKD 41.97 billion after deducting total borrowings of HKD 1.96 billion[17]. - The group's total assets and total equity are HKD 179.27 billion and HKD 162.34 billion, respectively, with a book net asset value per share of HKD 19.87 as of June 30, 2023[17]. - Total non-current assets increased to HKD 111.63 billion in 2023 from HKD 107.56 billion in 2022, representing a growth of approximately 3.9%[33]. - Current assets decreased to HKD 67.64 billion in 2023 from HKD 71.42 billion in 2022, a decline of about 5.3%[33]. - Total liabilities decreased from HKD 15.10 billion in 2022 to HKD 10.90 billion in 2023, a reduction of approximately 27.5%[33]. - Shareholders' equity increased to HKD 162.35 billion in 2023 from HKD 157.40 billion in 2022, reflecting a growth of about 3.8%[34]. Investment Properties and Market Conditions - The group recorded a revaluation loss of HKD 1.633 billion on investment properties, a significant decrease from a loss of HKD 7.708 billion in the previous fiscal year[1]. - Total rental income for the fiscal year was HKD 3.504 billion, a decrease of 1.1% year-on-year[11]. - Net rental income decreased to HKD 2.985 billion, down 3.7% from HKD 3.101 billion in the previous fiscal year[11]. - Overall occupancy rate of the investment property portfolio increased to 91.2%, up 0.4 percentage points from the previous year[11]. - The group's investment properties experienced a fair value change of HKD 178,550,889 in 2023, compared to a loss of HKD 683,168,848 in 2022, indicating a recovery in property values[42]. Sustainability and Corporate Responsibility - The group has been recognized as a component of the Hang Seng Sustainable Development Corporate Benchmark Index with an AA rating, and has achieved a five-star rating in the GRESB real estate assessment[20]. - The group was selected as one of the top ten companies in the Greater Bay Area Corporate Sustainability Index, marking a significant milestone in sustainable development[20]. - The group has been rated as the highest ESG-rated company in the Asia-Pacific region by Sustainalytics and upgraded to an AA rating in the MSCI ESG Index[20]. - The group continues to integrate sustainable development into its business through elements such as "green living," "innovative thinking," and "community care" to create long-term value for stakeholders[19]. - Sino Land Company received the "Hong Kong Sustainable Development Award (Large Organization Category)" at the Hong Kong Sustainable Development Awards 2022, recognizing its commitment to ESG and sustainability efforts[21]. Future Outlook and Market Conditions - The group is optimistic about the medium to long-term prospects of the mainland real estate market, supported by recent government measures to boost liquidity for developers[15]. - The company is prepared to seize opportunities for economic recovery as the operating environment improves following the easing of pandemic-related restrictions[24]. - New policies introduced in July 2023 include extending existing loans for developers by 12 months and relaxing down payment requirements for homebuyers, aimed at supporting the real estate sector[24]. - The company anticipates a gradual recovery in the business environment, supported by clearer interest rate prospects, which may benefit the Hong Kong residential market[27]. Operational Efficiency and Innovation - The company is actively exploring new technologies to enhance productivity and customer experience, focusing on green innovation and digitalization[26]. - The "CityWise 2022/2023" corporate innovation program attracted over 3,000 solutions from 70 countries, promoting real estate technology development[21]. - The "HKUST-Sino Million Dollar Entrepreneurship Competition 2023" attracted a record 234 teams, emphasizing the importance of sustainable development ideas[22].

Financial Performance - For the six months ending December 31, 2022, the group's unaudited profit attributable to shareholders was HKD 2.802 billion, down from HKD 4.369 billion in 2021, representing a decrease of 36%[12] - Basic earnings per share for the interim period were HKD 0.36, compared to HKD 0.58 in the previous year, reflecting a decline of 38%[12] - After accounting for a revaluation loss of investment properties of HKD 340.6 million, the net profit attributable to shareholders was HKD 2.459 billion, down from HKD 4.225 billion in 2021, a decrease of 42%[12] - The interim earnings per share, after revaluation losses, were HKD 0.31, compared to HKD 0.56 in the previous year, indicating a decline of 45%[12] - For the six months ended December 31, 2022, the company's revenue was HKD 6,382,562,292, a decrease of 41.5% compared to HKD 10,892,121,664 for the same period in 2021[38] - The company's gross profit for the same period was HKD 2,780,700,567, down from HKD 5,536,437,680, reflecting a gross margin decline[38] - The profit attributable to shareholders for the six months was HKD 2,459,821,495, a decrease of 41.8% from HKD 4,225,517,118 in the previous year[38] - Total comprehensive income for the period was HKD 2,233,180,306, down from HKD 4,518,664,076 year-over-year, indicating a decline of about 50%[39] - The company reported a profit of HKD 2,460,271,746 for the six months ended December 31, 2022, compared to HKD 4,392,196,323 in the same period of 2021, reflecting a decrease of approximately 44%[39] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.15 per share, consistent with the previous year's dividend[13] - The total interim dividend declared for the six months ended December 31, 2022, was HKD 1,209,189,324, compared to HKD 1,142,268,702 for the same period in 2021, reflecting an increase of about 5.9%[63] - The company did not declare any special dividend for the six months ended December 31, 2022, compared to HKD 0.28 per share for the same period in 2021[62] Property Sales and Revenue - The group's attributable property sales revenue for the interim period was HKD 38.99 billion, a decrease from HKD 84.97 billion in the previous year[14] - Revenue from property sales for the six months ended December 31, 2022, was HKD 3,947,351,849, down 54.5% from HKD 8,685,166,816 in the same period of 2021[49] - The segment profit for the property sales division was HKD 1,132,653,182, down from HKD 4,135,626,503 in the previous year, indicating a decrease of about 72.6%[50] Rental and Hotel Operations - The total rental income for the interim period was HKD 1.728 billion, down 3.8% year-on-year, while net rental income decreased by 4.9% to HKD 1.4806 billion[21] - The group's hotel revenue for the interim period was HKD 692.8 million, a significant increase from HKD 247.7 million in the same period last year, with operating profit rising to HKD 229.2 million from HKD 12.6 million[23] - Revenue from hotel operations increased to HKD 455,151,150, a significant rise from HKD 194,913,796 in the previous year, reflecting a growth of 133.3%[49] Financial Position and Assets - The group maintained a strong financial position with cash and bank deposits totaling HKD 44.46 billion, resulting in a net cash position of HKD 41.23 billion after deducting total borrowings of HKD 3.22 billion[26] - The group’s total assets and total equity were valued at HKD 179.39 billion and HKD 159.33 billion, respectively, as of December 31, 2022[26] - The company's non-current assets increased to HKD 111,853,827,165 as of December 31, 2022, up from HKD 107,558,890,604 as of June 30, 2022, representing a growth of approximately 4%[40] - The company's total equity attributable to shareholders rose to HKD 159,323,330,115 as of December 31, 2022, compared to HKD 157,397,300,099 at the end of June 2022, an increase of approximately 1.2%[41] Market Outlook and Strategy - The company anticipates that the easing of interest rate pressures and the reopening of China will support the Hong Kong residential market[36] - The company is focused on enhancing operational efficiency and business performance amid ongoing economic challenges, including inflation and consumer confidence issues[34] - The company remains cautiously optimistic about the Hong Kong property market, supported by government efforts to stimulate economic recovery and urbanization[35] Sustainability and Corporate Governance - SINO Land Company achieved a five-star rating in the Global Real Estate Sustainability Benchmark (GRESB) assessment, marking a significant milestone in its commitment to sustainable development[29] - The company aims to reduce scope 1 and 2 greenhouse gas emissions by 53.1% per square meter by 2030, using 2018 levels as a baseline[31] - SINO Land was recognized as one of the top 100 sustainable companies globally by Corporate Knights, highlighting its leadership in sustainability within the local real estate sector[29] - The company launched the "CORAL REEFStoration" project, utilizing 3D-printed coral reef structures to restore coral ecosystems in Hong Kong[31] - The company established a Compliance Committee to enhance corporate governance, which meets every two months to review compliance reports and provide regulatory updates[116] - The company adhered to all provisions of the Corporate Governance Code as per the Listing Rules for the six months ending December 31, 2022, although the roles of Chairman and CEO are currently held by the same individual[118] Shareholder Information - Major shareholder Huang Zhixiang holds 4,720,566,903 shares, representing 58.55% of the issued shares[95] - The estate of the late Huang Tingfang, managed by joint executors, holds 4,714,732,371 shares, accounting for 58.69% of the issued shares[104] - The company has a total of 17,252,756 shares under controlled corporation interests and 4,714,250,371 shares under the estate of the late Huang Tingfang[104] Committees and Compliance - The company has established a remuneration committee to oversee the remuneration policies for all directors and senior management, ensuring transparency and regular reviews[113] - The audit committee has reviewed the accounting policies and practices adopted by the company for the six months ended December 31, 2022[115] - All directors confirmed compliance with the Board's Securities Trading Code during the six months ending December 31, 2022[117]

Financial Performance - Revenue for 2022 was HKD 15,554,174,570, a decrease from HKD 24,545,345,720 in 2021[4] - Basic operating profit for 2022 was HKD 6,530,663,998, down from HKD 10,315,827,756 in 2021[4] - Profit attributable to shareholders in 2022 was HKD 5,735,396,549, compared to HKD 9,646,036,990 in 2021[4] - Basic earnings per share for 2022 were 86.58 HK cents, down from 142.92 HK cents in 2021[4] - Total assets in 2022 were HKD 163,879,257,131, slightly up from HKD 163,749,469,139 in 2021[6] - Total equity attributable to shareholders in 2022 was HKD 157,397,300,099, compared to HKD 155,159,697,028 in 2021[6] - Interim dividend for 2022 was 15.0 HK cents per share, up from 14.0 HK cents in 2021[4] - Final dividend for 2022 was 42.0 HK cents per share, up from 41.0 HK cents in 2021[4] - The group's basic profit attributable to shareholders, excluding investment property revaluation, was HKD 6.53 billion, a decrease from HKD 10.32 billion in the previous year[11] - The group's net profit attributable to shareholders, including investment property revaluation losses, was HKD 5.74 billion, down from HKD 9.65 billion in the previous year[11] - The board proposed a final dividend of 42 HK cents per share, bringing the total dividend for the fiscal year to 57 HK cents per share[12] Property Sales and Development - Property sales accounted for 65.8% of the group's revenue, while property leasing contributed 29.3%[8] - Property sales revenue attributable to the group was HKD 10.84 billion, a decrease from HKD 18.6 billion in the previous year[14] - The group sold 48.9% of units in the Capri Peak I & II project in Tseung Kwan O and 89.9% of units in the Parkland I & II project in Yuen Long[15] - The group plans to launch new residential projects, including Capri Peak III in Tseung Kwan O and ONE CENTRAL PLACE in Central, pending pre-sale consent[17] - As of June 30, 2022, the group's land reserve totaled 20.4 million square feet, with 45.7% allocated for commercial use and 29.9% for residential use[18] - The group acquired a 20% interest in a mixed-use development site in Singapore, with a total gross floor area of approximately 1.07 million square feet[18] - The company acquired a 25% interest in Golden Mile Complex at 5001 Beach Road, Singapore, with a total gross floor area of approximately 609,791 square feet[19] - The company increased its stake in the Victoria Harbour residential project in Southwest Kowloon from 22.5% to 29.25%, with a corresponding gross floor area of 288,935 square feet[21] - The company completed the Yat Lung Bay 8 residential project in Hong Kong with 100% ownership and a gross floor area of 412,530 square feet[22] - The company completed the Xinyu • Yulong Tianxia Phase 3 residential and commercial project in Zhangzhou, China, with 100% ownership and a gross floor area of 322,734 square feet[23] - The company completed the Xinyu • Yulongshan Phase 3A2 and 3B1 residential and commercial project in Chengdu, China, with 20% ownership and a gross floor area of 565,673 square feet[23] - The company's land reserve as of June 30, 2022, totals 20.43 million square feet, with a balanced portfolio: 45.7% commercial, 29.9% residential, 10.8% industrial, 7.7% parking, and 5.9% hotel[52] - The company acquired a 20% stake in a mixed-use development site in Singapore with a total gross floor area of 1.07 million square feet and a 25% stake in Golden Mile Complex in Singapore with a total gross floor area of 609,791 square feet[53] - The company's investment properties and hotels, primarily held for long-term investment, generated stable recurring income, with a total area of 12.17 million square feet, accounting for 59.5% of the total land reserve[53] - The company's properties under development total 6.78 million square feet, representing 33.2% of the total land reserve, with prime locations and convenient transportation access[53] - The company's completed properties for sale total 1.49 million square feet, accounting for 7.3% of the total land reserve[53] - Total land reserve area as of June 30, 2022, is 20,430,962 square feet, with 22.6% located in Mainland China, 30.1% in the New Territories, 29.0% in Kowloon, 12.4% on Hong Kong Island, 5.0% in Singapore, and 0.9% in Sydney, Australia[54] - The company has 23 ongoing development projects in Hong Kong, Mainland China, and Singapore, with a total attributable gross floor area of 6.8 million square feet[57] - In the fiscal year 2022, the company sold approximately 99.2% of the units in the YOHO Hub 8 project, generating a total property sales revenue of HKD 5.7 billion[58] - The company expects to obtain pre-sale consents for three additional residential projects in the 2022/2023 fiscal year, including the second phase of Parkland in Yuen Long, the fourth phase of Wong Chuk Hang Station property development, and the Yau Tong Ventilation Building property development[57] - The Hong Kong Fullerton Ocean Park Hotel, with 425 rooms, commenced trial operations in July 2022 and is expected to officially open in late 2022[59] - The third phase of the Xinhe Yulong Tianxia project in Zhangzhou, Fujian, includes a residential area of approximately 1.2 million square feet, providing 1,268 units, and a commercial area of 72,041 square feet[60] - As of June 30, 2022, the company has 16 ongoing development projects in Hong Kong, with an attributable gross floor area of approximately 3.6 million square feet[61] - The Landmark South project in Wong Chuk Hang, with a total attributable area of approximately 141,698 square feet, is expected to obtain the "Occupation Permit" in the 2022/2023 fiscal year[62] - Silversands project has sold approximately 71.3% of its units, generating a total property sales revenue of HKD 1.2 billion[65] - St. George's Mansions project has sold approximately 8.6% of its units, generating a total property sales revenue of HKD 2.1 billion[67] - The Victoria Harbour project has sold approximately 54.7% of its units, generating a total property sales revenue of HKD 11.2 billion[70] - The "Marini" project at The Southside has sold approximately 82.7% of its units, generating a total property sales revenue of HKD 12.1 billion[71] - ONE SOHO project has sold approximately 59.3% of its units, generating a total property sales revenue of HKD 1.3 billion[72] - The Silversands project is expected to obtain the "Occupancy Permit" and "Certificate of Compliance" in the 2022/2023 fiscal year[65] - The Victoria Harbour project is expected to obtain the "Occupancy Permit" and "Certificate of Compliance" in the 2022/2023 fiscal year[70] - The "Marini" project at The Southside is expected to obtain the "Transfer Consent" in the 2023/2024 fiscal year[71] - ONE CENTRAL PLACE project is expected to obtain the "Occupancy Permit" and "Certificate of Compliance" in the 2023/2024 and 2024/2025 fiscal years, respectively[73] - The Victoria Harbour project has a total residential area of 987,812 sq. ft., providing 1,437 units, with the company's attributable area being 288,935 sq. ft.[70] - The joint venture project at Kam Sheung Road Station has a total site area of 448,719 square feet and will provide approximately 2,200 residential units upon completion. The company holds a 33.33% interest, equating to 412,247 square feet of residential area. Phase 1A and 1B have achieved 89.9% sales, generating HK$12.4 billion in revenue[74] - The Lohas Park Phase 11 project has a total site area of 177,359 square feet and will provide approximately 1,880 residential units. The company holds a 40% interest, equating to 382,587 square feet of residential area. Phase XIB and XIC have achieved 48.9% sales, generating HK$5.2 billion in revenue[75] - The Yau Tong Ventilation Building project has a total site area of 43,379 square feet and will provide 792 residential units. The company holds an 80% interest, equating to 260,274 square feet of residential area. The project is currently in the foundation stage[75] - The Wong Chuk Hang Station Phase 4 project has a total site area of 65,015 square feet and will provide approximately 800 residential units. The company holds a 25% interest, equating to 159,576 square feet of residential area. The project is currently in the superstructure construction stage[76] - The Lohas Park Phase 13 project has a total site area of 130,675 square feet and will provide approximately 2,550 residential units. The company holds a 25% interest, equating to 386,681 square feet of residential area. The project is currently under construction[76] - The company has approximately 2.8 million square feet of development projects in Mainland China, including two projects in the Greater Bay Area and three in other regions[77] - The Xiamen Xinhe Yulong Tianxia project in Zhangzhou has a total area of 4.4 million square feet, with 4.2 million square feet designated for residential use, providing 3,856 units. Approximately 96% of the 2,821 units released for sale have been sold[77] - The first phase of the Xiamen Xinhe Yulong Tianxia project was completed in the 2013/2014 fiscal year, providing 602 residential units and 25,919 square feet of commercial space[78] - The second phase of the Xiamen Xinhe Yulong Tianxia project was completed in the 2017/2018 fiscal year, providing 1,047 residential units and 47,095 square feet of commercial space[78] - The third phase of the Xiamen Xinhe Yulong Tianxia project includes 1,268 residential units and 72,041 square feet of commercial space, with two out of seven buildings completed in the current fiscal year[78] - The company acquired a 50% interest in the T102-0262 plot in Shenzhen, with a site area of approximately 80,485 square feet and a total commercial area of 495,144 square feet upon completion in 2022[79] - The company holds a 30% interest in the T102-0261 plot in Shenzhen, with a site area of approximately 183,842 square feet and a total area of 861,120 square feet upon completion in 2024, with 90% designated for office use[80] - The company acquired a 20% interest in the Land Parcel 950 in Singapore, with a total gross floor area of approximately 1,070,026 square feet, offering residential, serviced apartments, retail, dining, and office spaces[81] - The company acquired a 25% interest in the Golden Mile Complex in Singapore, with a total gross floor area of approximately 609,791 square feet, redeveloping it into a mixed-use project[82] Investment Properties and Hotels - The company's total rental income (including share of associates and joint ventures) for the fiscal year was HK$3.5461 billion, a year-on-year decrease of 3.2%[26] - The company's investment property portfolio achieved an average occupancy rate of 90.8%, a slight increase from 89.8% in the previous fiscal year[26] - The company's retail property portfolio achieved an average occupancy rate of 92.9%, an improvement from 90.4% in the previous fiscal year[27] - The company's office property portfolio achieved an average occupancy rate of 89.7%, a decrease from 91% in the previous fiscal year[28] - The group's investment properties and hotels in mainland China, Hong Kong, Singapore, and Sydney cover a total area of approximately 12.1 million square feet, with commercial properties (shops and offices) accounting for 61.5%, industrial properties for 13.3%, parking lots for 12.9%, hotels for 9.6%, and residential properties for 2.7%[30] - The group's hotel operating income (including share of associates and joint ventures) for the fiscal year was HKD 582.7 million, compared to HKD 350.8 million last year, with an operating profit of HKD 92.9 million, compared to an operating loss of HKD 69.1 million last year[31] - The group's Hong Kong Fullerton Ocean Park Hotel, which opened in July 2022, offers 425 rooms and suites and is the first Fullerton hotel in Hong Kong, focusing on sustainability and luxury[32] - The group's hotel business in Singapore and Sydney showed effective recovery in the second half of the fiscal year following the relaxation of travel restrictions and the resumption of international travel[31] - The group's Hong Kong Conrad Hotel participated in the government's designated quarantine hotel program, exclusively hosting overseas travelers for mandatory quarantine starting June 1, 2022[31] - The group's Hong Kong Ovolo Hotel underwent renovation starting December 2021 and is planned to reopen in the fourth quarter of 2022 with new commercial and operational strategies[31] - As of June 30, 2022, the company's investment properties and hotels covered approximately 12.1 million square feet, with 61.5% allocated to office/retail use[83][84] - The company's flagship shopping malls, such as Tuen Mun Town Plaza Phase 1, saw improved foot traffic and tenant sales compared to the peak of the pandemic[85] - Tuen Mun Town Plaza Phase 1, a wholly-owned property, spans over 1.1 million square feet with more than 300 shops and restaurants[86] - Olympian City Phase 1 and 2, with over 650,000 square feet of retail space, maintained high occupancy rates during the fiscal year[87] - Olympian City Phase 3, with a 50% interest, offers approximately 118,000 square feet of retail space and maintained high occupancy rates[88] - The company's Asia Pacific Centre, a wholly-owned property in Hong Kong, spans 219,853 square feet and is located in a prime shopping district[89] - Zhonggang City occupies 673 guest rooms in the Royal Pacific Hotel and provides over 1.2 million square feet of office and retail space, with the group holding a 25% interest, equivalent to 308,308 square feet[91] - Tsim Sha Tsui Centre has a total area of 514,020 square feet, with the group holding a 45% interest, equivalent to 231,309 square feet, and maintains a high occupancy rate[92] - Grandtech Plaza has a total commercial area of 824,406 square feet, with the group holding a 50% interest, equivalent to 412,203 square feet, and maintains a high occupancy rate[93] - Citywalk provides approximately 245,000 square feet of retail space and maintains a high occupancy rate, with its vertical garden and garden plaza earning the highest "Platinum" rating from the HK-BEAM Society[94] - Citywalk Phase 2 offers approximately 180,000 square feet of retail space and is connected to Citywalk via a pedestrian bridge[95] - Central Plaza, one of Asia's tallest commercial buildings, provides approximately 1.4 million square feet of space, with the group holding a 10% interest, equivalent to 140,000 square feet, and maintains a high occupancy rate[96] - Electric Road 148 offers 197,400 square feet of commercial space[97] - Fuli Plaza provides 225,396 square feet of office space and is undergoing significant commercial and residential improvements in the Kwun Tong area[98] - Pacific Plaza offers 153,037 square feet of office space and 14,562 square feet of retail space, with the retail area undergoing major renovations expected to be completed by the end of the year[99] - The Hennessy provides 71,862 square feet of commercial space and maintains a high occupancy rate, featuring a 15-meter-high glass shopfront and a rooftop garden with panoramic views of Victoria Harbour[100] - Lee Tung Avenue has a total area of approximately 87,720 square feet and houses around 50 tenants offering a diverse mix of retail options[103] - Galaxy Bay has a total area of approximately 47,607 square feet, with residential space accounting for 32,400 square feet and retail space for 15,207 square feet, providing 50 residential units[104] - The Peak has a residential area of approximately 36,845 square feet, offering 54 residential units, with the property nearly fully leased[105] - Central Park occupies approximately 39,041 square feet, representing the company's 45% stake in the project, which has a total area of 86,758 square feet[108] - Fullerton Heritage in Singapore includes several historical buildings and offers a unique blend of dining, entertainment, and accommodation services[109] - Fullerton One provides over 80,000 square feet of commercial space and features a variety of high-end dining and entertainment options[110] - Fullerton Waterboat House has a total area of 21,743 square feet and is a historical landmark in Singapore[112] - Fullerton Pavilion is part of Fullerton Heritage and is located in the Marina Bay area, offering a prime location for dining and entertainment[113] - The Fullerton Hotel Singapore achieved

Financial Performance - For the six months ending December 31, 2021, the group's unaudited profit attributable to shareholders was HKD 4.367 billion, compared to HKD 2.142 billion in 2020, representing a 104% increase[6]. - The basic earnings per share for the interim period was HKD 0.58, up from HKD 0.30 in the previous year, indicating a 93% increase[6]. - The net profit attributable to shareholders, after accounting for a revaluation loss of investment properties of HKD 1.3 billion, was HKD 4.225 billion, compared to HKD 1.286 billion in 2020, reflecting a significant increase[6]. - The basic earnings per share, including the revaluation loss, was HKD 0.56, compared to HKD 0.18 in the previous year, marking a 211% increase[6]. - The company reported a revenue of HKD 10,892,121,664 for the six months ending December 31, 2021, compared to HKD 4,097,517,736 for the same period in 2020, representing a significant increase[28]. - The net profit for the period was HKD 4,392,196,323, up from HKD 1,282,922,238 in the previous year, indicating a year-over-year growth of approximately 242%[30]. - The total comprehensive income for the period was HKD 4,518,664,076, compared to HKD 2,362,133,582 in the previous year, showing a strong increase[30]. - The pre-tax profit was HKD 4,225,517,118, compared to HKD 1,286,638,929 for the same period in 2020, representing a significant increase[65]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.15 per share, an increase from HKD 0.14 per share in 2020, representing a 7.14% rise[7]. - The company declared a final dividend of HKD 2.18 billion, reflecting a commitment to returning value to shareholders[35]. - The company declared an interim dividend of HKD 0.15 per share for the six months ended December 31, 2021, compared to HKD 0.14 per share for the same period in 2020, totaling HKD 1,142,268,701[61]. Property Sales and Revenue - The group's attributable property sales revenue for the interim period was HKD 84.97 billion, compared to HKD 20.11 billion in 2020, representing a significant increase[8]. - Property sales revenue reached HKD 8,685,166,816, compared to HKD 1,949,855,362 in the previous year, marking an increase of about 345.5%[46]. - Revenue from property management and other services was HKD 587,687,253, up from HKD 565,387,525, reflecting a growth of approximately 3.5%[46]. - The total income from external sources for property sales was HKD 10,069,239,444, compared to HKD 3,366,694,712 in the previous year, marking an increase of about 198.5%[46]. Assets and Liabilities - As of December 31, 2021, the group’s total assets and total equity were HKD 178.67 billion and HKD 156.59 billion, respectively[20]. - The group’s net asset value per share was HKD 20.56, down from HKD 20.98 as of June 30, 2021[20]. - The total liabilities decreased from HKD 17.97 billion to HKD 13.23 billion, a reduction of about 26.4%[31]. - The company's equity attributable to shareholders increased to HKD 156.59 billion from HKD 155.16 billion, representing a growth of about 0.9%[33]. - The group's share of total debt from its associated companies is HKD 10,596,680,653 as of December 31, 2021, compared to HKD 9,432,861,175 as of June 30, 2021, reflecting an increase of approximately 12.3%[113]. Cash Flow and Financial Position - As of December 31, 2021, the group had cash and bank deposits of HKD 42.06 billion, with net cash of HKD 38.81 billion after deducting total borrowings of HKD 3.25 billion[20]. - The net cash generated from operating activities for the six months ended December 31, 2021, was HKD 4,205,482,124, a significant increase from HKD 205,857,444 in the same period of 2020[37]. - The cash and cash equivalents at the end of the period stood at HKD 22,296,727,851, up from HKD 13,032,877,493 a year earlier[38]. - The company’s cash and cash equivalents increased to HKD 3.81 billion from HKD 3.59 billion, reflecting a growth of approximately 6.1%[31]. Operational Highlights - The group sold 98.7% of the units at Yilong Bay 8, 94% at Kaihui, and 67.5% at Silversands during the interim period[8]. - The average occupancy rate for the group's retail properties improved to approximately 91.9% from 90.6% in 2020[15]. - The average occupancy rate for the group's office properties was 89.8%, down from 91.7% in 2020, reflecting ongoing challenges in the market[15]. - The hotel operations continue to face challenges due to the impact of the COVID-19 pandemic, with recovery dependent on the easing of travel restrictions[17]. - Hotel revenue for the mid-year period reached HKD 247.7 million, up from HKD 163.5 million in 2020, with total operating profit of HKD 12.6 million compared to an operating loss of HKD 52.9 million in 2020[18]. Sustainability and Corporate Governance - The group has received multiple awards for its commitment to sustainable development and corporate governance, including the ESG Excellence Award in 2021[22]. - The company has achieved its plastic reduction target ahead of schedule as part of its "Sustainable Development Vision 2030" initiative[23]. - The company is committed to promoting sustainable development and biodiversity through its integrated green community project[23]. - The company continues to support the government's vaccination program to achieve herd immunity against COVID-19[25]. - The company has established a remuneration committee to oversee the compensation policies for all directors and senior management, ensuring transparency and regular reviews[116]. Future Outlook and Strategy - The company anticipates launching three additional residential projects in 2022, pending the issuance of pre-sale consent[8]. - The company plans to continue focusing on property development and investment strategies to enhance future growth and profitability[69]. - The company maintains a cautious optimism regarding the Hong Kong property market, citing resilience and strong fundamentals despite potential economic pressures[26]. - The company is focused on enhancing customer satisfaction through quality property development and environmentally friendly design principles[22].

Financial Performance - The company's revenue for the year 2021 was HKD 24.55 billion, a significant increase from HKD 5.89 billion in 2020, representing a growth of approximately 317%[5] - The underlying operating profit for 2021 was HKD 10.32 billion, compared to HKD 4.56 billion in 2020, marking an increase of about 126%[5] - The profit attributable to shareholders for 2021 was HKD 9.65 billion, up from HKD 1.69 billion in 2020, reflecting a growth of approximately 471%[5] - Basic earnings per share for 2021 were HKD 1.43, compared to HKD 0.66 in 2020, indicating an increase of around 115%[5] - The total equity attributable to shareholders increased to HKD 155.16 billion in 2021 from HKD 144.92 billion in 2020, representing a growth of about 7.9%[7] - The company declared a final dividend of HKD 0.41 per share for 2021, consistent with the previous year's dividend[5] Property Sales and Development - Total property sales revenue for the fiscal year was HKD 20.239 billion, significantly up from HKD 8.639 billion the previous year[13] - The group achieved a total property sales revenue (including joint ventures) of HKD 20.433 billion, compared to HKD 2.372 billion in the previous year[15] - The group plans to launch multiple new residential projects, with three expected to receive pre-sale consent in the fiscal year 2021/2022[15] - The group reported a significant increase in property sales from the sale of residential units in various projects, including 78.1% sold in the third phase of Xinhui • Yulong Tianxia[13] - The project "133 Portofino" has sold approximately 66.7% of its residential units, generating total sales revenue exceeding HKD 700 million[43] - The "Kai Tak" project has achieved a total sales revenue of HKD 24.1 billion, with approximately 92.8% of the residential units sold[46] Financial Management and Assets - Non-current assets for 2021 were HKD 106.91 billion, while current assets were HKD 74.81 billion, leading to a total asset value of HKD 163.75 billion[7] - The company reported a total liability of HKD 6.94 billion in non-current liabilities for 2021, a decrease from HKD 8.65 billion in 2020[7] - As of June 30, 2021, the group had cash and bank deposits of HKD 44.134 billion, resulting in a net cash position of HKD 38.883 billion after deducting total borrowings of HKD 5.258 billion[27] - The group’s total assets and total equity amounted to HKD 181.752 billion and HKD 155.519 billion, respectively, as of June 30, 2021[27] Sustainability and Corporate Governance - The company is focused on sustainable development and corporate governance as part of its long-term strategy[6] - The group has been recognized in the Hang Seng ESG 50 index and has received multiple awards for its environmental, social, and governance (ESG) performance[30] - The group aims to achieve net-zero carbon emissions by 2050 and is collaborating with Hong Kong University of Science and Technology to set science-based reduction targets[30] - The company has converted a HKD 1 billion five-year loan into a sustainability-linked loan, marking its first financing arrangement directly related to sustainable development goals[25] - The sustainability report is prepared according to the GRI Standards and the TCFD recommendations, reflecting the company's commitment to transparency[127] Employee Engagement and Training - The group employed approximately 7,000 full-time employees as of June 30, 2021[109] - The group provided 123,000 hours of training during the 2020/2021 fiscal year, focusing on customer service quality and digital innovation[112] - The group launched the "Youth Leap Program" to train young talents in property management, providing comprehensive training over one month[114] - The employee mobile application "信誌" has an 80% download rate among Hong Kong employees, enhancing internal communication[110] - The group received multiple awards for workplace culture and employee engagement, including "Excellence in Workplace Culture" and "Best Companies to Work For in Asia 2021"[111] Risk Management and Internal Control - The company has adopted a corporate risk management system to assist in identifying, assessing, and managing significant risks[156] - The internal control system is based on a strong ethical environment, with a code of conduct established to prevent bribery and conflicts of interest[156] - The audit committee reviews the effectiveness of the risk management and internal control systems at least once a year, covering all significant control measures[161] - The internal audit department conducts annual risk assessments and develops a three-year internal audit plan for the audit committee's approval[159] - The company employs a risk classification system to identify, categorize, and document various risks across all business units[188] Community Engagement and Social Responsibility - The "One Happy Farming" project has expanded to seven farms in Hong Kong and one in Singapore, covering over 27,000 square feet, promoting sustainable development and biodiversity[120] - Over 490 volunteer activities were organized by the group, with more than 1,070 volunteers serving over 17,900 individuals in need[140] - The "Love Meal Box Donation Program" distributed over 60,000 nutritious meal boxes to those in need during a six-month initiative[140] - The company has launched the "One Person, One Computer" initiative, supporting over 1,000 underprivileged students[131] - The company actively participates in community service and environmental activities to build a better community[120] Board Governance and Structure - The board established four committees: the Remuneration Committee, Nomination Committee, Audit Committee, and Compliance Committee, each with specific responsibilities[145] - The company maintains a three-year term for all non-executive directors, with one-third of the board members required to retire annually at the annual general meeting[148] - The company has established a formal and transparent procedure for setting remuneration policies, considering factors such as compensation in comparable companies[150] - The board promotes an open and proactive discussion culture to ensure effective contributions from non-executive directors[145] - The company has established a communication policy to handle inquiries from shareholders effectively[181]

Financial Performance - The company's unaudited basic profit attributable to shareholders for the six months ended December 31, 2020, was HKD 2.1425 billion, compared to HKD 2.7229 billion in the same period in 2019[6] - The company's unaudited profit attributable to shareholders for the six months ended December 31, 2020, was HKD 1.2866 billion, compared to HKD 2.7808 billion in the same period in 2019[6] - Revenue for the six months ended December 31, 2020, was HKD 4,097,517,736, compared to HKD 3,168,550,076 in the same period in 2019[25] - Gross profit for the six months ended December 31, 2020, was HKD 2,205,767,497, compared to HKD 1,877,695,349 in the same period in 2019[25] - Net profit attributable to shareholders for the six months ended December 31, 2020, was HKD 1,286,638,929, compared to HKD 2,780,790,532 in the same period in 2019[25] - Basic earnings per share for the six months ended December 31, 2020, was HKD 0.18, compared to HKD 0.40 in the same period in 2019[25] - Total revenue for the six months ended December 31, 2020, was HK$4,097,517,736, compared to HK$3,168,550,076 for the same period in 2019[40] - Profit before tax for the six months ended December 31, 2020, was HK$1,858,256,361, compared to HK$3,100,376,377 in 2019[46] - Basic earnings per share decreased to HKD 1,286,638,929 for the six months ended December 31, 2020, from HKD 2,780,790,532 for the same period in 2019[58] - The company's basic profit attributable to shareholders decreased to HKD 2,142,555,952 for the six months ended December 31, 2020, from HKD 2,722,914,108 for the same period in 2019[62] Dividends and Shareholder Returns - The company announced an interim dividend of 14 HK cents per share, payable on April 20, 2021, to shareholders registered on March 16, 2021[6] - The company declared an interim dividend of HKD 1,025,742,971 for the six months ended December 31, 2020, compared to HKD 974,251,863 for the same period in 2019[57] - The company will suspend share registration from March 12, 2021, to March 16, 2021, for the interim dividend record date[88] Property Sales and Development - Property sales revenue for the mid-year period was HK$2.0118 billion, compared to HK$1.8865 billion in 2019[7] - The company expects to obtain pre-sale consents for five additional residential projects in 2021[7] - The company expects five residential projects to potentially obtain pre-sale consents in 2021[23] - Property sales revenue increased significantly to HK$1,949,855,362 from HK$412,238,609 in the previous year[40] - Segment profit for property sales was HK$807,873,625, compared to HK$797,788,185 in 2019[43] - Profit before tax included property sales costs of HKD 1,026,390,246 for the six months ended December 31, 2020, a significant increase from HKD 231,714,970 for the same period in 2019[52] Rental Income and Investment Properties - Total rental income for the mid-year period was HK$1.8429 billion, a 12.6% decrease year-over-year[12] - Net rental income decreased by 10.9% to HK$1.6298 billion compared to the previous year[12] - The overall occupancy rate of the company's investment property portfolio was approximately 90%, down from 96% in 2019[12] - The total value of investment properties (including joint ventures and associates) was HK$83.1539 billion, a 0.28% decrease from the previous year[13] - The company's investment property revaluation loss (net of deferred tax) for the six months ended December 31, 2020, was HKD 850.1 million, compared to a revaluation gain of HKD 110.3 million in the same period in 2019[6] - Segment profit for property leasing was HK$1,638,971,175, down from HK$1,838,178,905 in 2019[43] - Investment properties fair value loss of HKD 534,848,712 for the six months ended December 31, 2020, compared to a fair value gain of HKD 169,336,043 for the same period in 2019[63] Hotel Operations - Hotel operating income for the mid-year period was HK$163.5 million, a significant drop from HK$639.8 million in 2019[14] - Hotel operations revenue decreased to HK$128,844,437 from HK$484,398,475 in 2019[40] Land Reserve and Development - The company's land reserve as of December 31, 2020, was approximately 22 million square feet, with 40.3% commercial, 36.3% residential, 10.9% industrial, 7.1% parking, and 5.4% hotel[8] - The company has a land reserve of approximately 4.9 million square feet in Mainland China, with 3.8 million square feet under development[15] Financial Position and Cash Flow - The company holds a net cash position of HKD 37.18 billion as of December 31, 2020[16] - Total assets and total equity of the company are HKD 188.3 billion and HKD 147 billion respectively[16] - Total assets increased to HKD 154,782,376,769 as of December 31, 2020, compared to HKD 154,404,425,427 as of June 30, 2020[28] - Investment properties decreased slightly to HKD 62,428,594,167 from HKD 62,658,456,279 over the same period[28] - Equity attributable to the company's shareholders rose to HKD 147,015,257,417 from HKD 144,915,881,299[30] - Long-term bank borrowings decreased significantly to HKD 2,420,289,063 from HKD 4,418,199,715[30] - Retained earnings stood at HKD 94,559,864,789 as of December 31, 2020, down from HKD 96,112,971,493 as of June 30, 2020[31] - The company's total equity increased to HKD 147,854,848,515 from HKD 145,759,189,088[30] - Current assets increased to HKD 81,056,296,153 from HKD 80,391,448,913[28] - Current liabilities rose to HKD 33,580,542,044 from HKD 32,319,376,427[28] - Net current assets decreased to HKD 47,475,754,109 from HKD 48,072,072,486[28] - The company's total non-current assets increased to HKD 107,306,622,660 from HKD 106,332,352,941[28] - Operating cash flow from business activities was HKD 205.86 million, a significant decrease from HKD 5.48 billion in the previous year[33] - Cash and cash equivalents decreased by HKD 10.22 billion, compared to an increase of HKD 14.02 billion in the same period last year[34] - Loans to associates decreased to HKD 1.58 billion from HKD 2.81 billion in the previous year[33] - Loans to joint ventures decreased to HKD 419.04 million from HKD 3.26 billion in the previous year[33] - Non-controlling interest loans decreased to HKD 57.42 million from HKD 368.56 million in the previous year[33] - Investment properties additions decreased to HKD 43.29 million from HKD 133.36 million in the previous year[33] - Property, plant, and equipment additions decreased to HKD 23 million from HKD 20.6 million in the previous year[33] - Repayments from associates increased to HKD 98.88 million from HKD 3.27 billion in the previous year[33] - Repayments from joint ventures increased to HKD 475.56 million from HKD 120.66 million in the previous year[33] - Cash and cash equivalents at the end of the period were HKD 13.03 billion, down from HKD 30.42 billion in the previous year[34] Sustainability and Corporate Social Responsibility - The company has reduced carbon emissions by 17.73% as of June 2019, exceeding the target of 16% reduction by 2020[19] - The company has set a new target to reduce carbon emissions by 30% by 2030, based on 2012 levels[19] - The company donated 1,019 laptops to students in need through the "One Person, One Computer" initiative[19] - The company's 133 Portofino project in Sai Kung is the first residential project in Hong Kong to receive the WELL v2™ pre-certification[21] - The company launched the "CityWisdom" initiative in collaboration with Ping An Smart City to foster innovation in real estate technology[21] Market Outlook and Strategy - The company maintains a selective strategy for land acquisition to optimize revenue and improve efficiency[23] - The company’s recurring businesses, including property leasing, hotel and catering services, and property management, remain core pillars for stable income[23] - The company is integrating health and sustainability principles into project design, construction, and management to create clean, safe, and sustainable communities[23] - The company is optimistic about the Hong Kong residential property market due to low interest rates, stable housing demand, and favorable mortgage terms[23] - The company is closely monitoring technological developments to enhance business operations and efficiency[23] Corporate Governance - The company has established a Nomination Committee responsible for reviewing the board's structure, size, and composition, and making recommendations for changes to align with corporate strategy[107] - The Audit Committee assists the board in ensuring effective financial reporting, risk management, and internal controls, and meets at least four times a year[108] - The Compliance Committee reviews ongoing connected transactions, provides regulatory updates, and considers corporate governance matters, meeting every two months[109] - All directors confirmed compliance with the company's Securities Trading Code during the six months ended December 31, 2020[110] - The company complied with all code provisions in the Corporate Governance Code during the six months ended December 31, 2020, except for the combined role of Chairman and CEO[111] - Deloitte reviewed the company's condensed consolidated financial statements for the six months ended December 31, 2020, and found no material misstatements[113][114] Shareholder and Ownership Structure - Mr. Robert Ng holds 57.63% of the issued shares of the company, with 4,223,096,130 ordinary shares[90] - Mr. Robert Ng also holds 72.08% of the issued shares of the holding company, Tsim Sha Tsui Properties Limited, with 1,387,150,124 ordinary shares[92] - Mr. Robert Ng has 100% ownership in Brighton Land Investment Limited through controlled companies[94] - Mr. Robert Ng holds 50% ownership in several associated companies, including Rich Century Investment Limited and Sino Parking Management Limited[94] - Osborne controls 55% of Erleigh Investment Limited[95] - Mr. Wong Chi Shing controls 100% of Sun Wai Long Limited[95] - Mr. Wong Chi Tat holds 4,232,629,418 ordinary shares, representing 57.76% of the issued shares[96][97] - Tsim Sha Tsui Properties Group Limited holds 4,032,442,090 ordinary shares, representing 55.03% of the issued shares[97] - Spangle Investment Limited holds 499,201,269 ordinary shares, representing 6.81% of the issued shares[99] - Ka Fai Property Development Limited holds 421,996,094 ordinary shares, representing 6.19% of the issued shares[99] Financial Instruments and Risk Management - The fair value of listed equity securities as of December 31, 2020, was HKD 634,607,061, classified under Level 1 of the fair value hierarchy[82] - The fair value of non-listed equity securities as of December 31, 2020, was HKD 46,976,518, classified under Level 2 of the fair value hierarchy[82] - The fair value of listed debt securities as of December 31, 2020, was HKD 37,966,097, classified under Level 2 of the fair value hierarchy[82] - The fair value of interest rate swaps as of December 31, 2020, was HKD 32,209,188, classified under Level 2 of the fair value hierarchy[82] - The company entered into an interest rate swap with a total notional amount of HKD 1,000,000,000 to hedge against interest rate risk[83] - The group's utilized bank loan guarantees for joint ventures and associates amounted to HKD 7,722,283,901 as of December 31, 2020, an increase from HKD 6,863,909,096 as of June 30, 2020[86] - Unutilized bank loan guarantees for joint ventures and associates decreased to HKD 2,973,132,154 as of December 31, 2020, from HKD 3,892,216,604 as of June 30, 2020[86] - Guarantees for property buyers' bank mortgage repayments increased to HKD 563,425,442 as of December 31, 2020, compared to HKD 502,404,617 as of June 30, 2020[86] - The company's financial guarantees for property buyers will be revoked upon the completion of mortgage registration[87] Associates and Joint Ventures - The company's share of joint venture performance included a decrease in fair value of investment properties by HKD 46,668,930 for the six months ended December 31, 2020, compared to an increase of HKD 34,973,982 for the same period in 2019[51] - The company's share of associate performance included a decrease in fair value of investment properties by HKD 254,536,419 for the six months ended December 31, 2020, compared to an increase of HKD 34,992,531 for the same period in 2019[50] - Investment in associates' equity increased to HKD 20,842,744,654 as of December 31, 2020, from HKD 20,765,899,460 as of June 30, 2020[65] - Loans to associates (net of provisions) rose to HKD 4,367,374,479 as of December 31, 2020, compared to HKD 3,363,101,061 as of June 30, 2020[65] - Investment in joint ventures' equity increased to HKD 3,015,128,400 as of December 31, 2020, from HKD 2,969,843,643 as of June 30, 2020[68] - Loans to joint ventures (net of provisions) decreased to HKD 10,544,557,049 as of December 31, 2020, from HKD 10,628,066,644 as of June 30, 2020[68] - The group's total debt attributable to its associates was HKD 31,351,031,147 as of December 31, 2020[103] - The group's bank loans attributable to its associates were HKD 9,130,811,901 as of December 31, 2020[103] - The group's loans provided to associates were HKD 22,220,219,246 as of December 31, 2020[103] Other Financial Information - Financial costs decreased to HKD 23,358,189 for the six months ended December 31, 2020, compared to HKD 38,150,411 for the same period in 2019[49] - Current tax expenses included Hong Kong profits tax of HKD 189,612,809 for the six months ended December 31, 2020, up from HKD 170,387,663 for the same period in 2019[55] - Deferred tax expenses increased to HKD 575,334,123 for the six months ended December 31, 2020, compared to HKD 308,053,152 for the same period in 2019[55] - The weighted average number of ordinary shares used in calculating basic earnings per share increased to 7,083,416,624 for the six months ended December 31, 2020, from 6,839,363,734 for the same period in 2019[58] - Additions to property, plant, and equipment amounted to HKD 22,999,876 for the six months ended December 31, 2020, up from HKD 20,595,266 in the same period in 2019[64] - Trade receivables (net of credit loss provisions) stood at HKD 241,289,910 as of December 31, 2020, down from HKD 249,086,224 as of June 30, 2020[70] - Trade payables increased to HKD 95,455,443 as of December 31, 2020, from HKD 83,902,503 as of June 30, 2020[73] - Prepaid sales commissions amounted to HKD 463,000,000 as of December 31, 2020, up from HKD 458,000,000 as of June 30, 2020[71] - Prepayments related to property development projects increased to HKD 134,000,000 as of December 31, 2020, from HKD

Financial Performance - The company's revenue for 2020 was HKD 5,886,888,002, a decrease of 26.5% compared to HKD 8,009,912,578 in 2019[10] - The basic earnings per share for 2020 was HKD 0.6589, down from HKD 0.6968 in 2019, representing a decline of 5.7%[10] - The total equity attributable to shareholders as of 2020 was HKD 144,915,881,299, a slight decrease from HKD 145,294,012,753 in 2019[14] - The company reported a basic operating profit of HKD 4,557,049,804 for 2020, down from HKD 4,671,078,053 in 2019, reflecting a decline of 2.4%[10] - Total property sales revenue for the fiscal year was HKD 2.372 billion, a decrease from HKD 2.986 billion the previous year, primarily due to no new completed sales projects[23] - Total rental income for the fiscal year was HKD 4.0619 billion, a decrease of 4.2% year-on-year due to the impact of COVID-19[31] - Net rental income decreased by 2.3% to HKD 3.5998 billion, as related expenses decreased more than total rental income[31] - The group recorded a revaluation loss of HKD 2.532 billion for investment properties, compared to a revaluation gain of HKD 2.415 billion the previous year[18] Assets and Liabilities - The total assets of the company were HKD 154,404,425,427 in 2020, a decrease from HKD 155,362,815,893 in 2019[14] - The total liabilities of the company increased to HKD 32,319,376,427 in 2020 from HKD 25,385,564,491 in 2019[14] - Non-current assets amounted to HKD 106,332,352,941 in 2020, compared to HKD 106,204,235,953 in 2019, indicating a marginal increase[14] Dividends - The company declared a final dividend of HKD 0.41 per share for 2020, consistent with the previous year's dividend[10] - The board proposed a final dividend of HKD 0.41 per share, totaling HKD 0.55 per share for the fiscal year, including an interim dividend of HKD 0.14[19] Property Development and Sales - The group has land reserves of approximately 2.23 million square feet across various regions, with a balanced property type distribution: 39.7% commercial, 37.1% residential, 10.8% industrial, 7% parking, and 5.4% hotel[24] - The group plans to obtain pre-sale consent for five residential projects in the next twelve months, depending on market conditions and timing of approvals[23] - The project at 1 Kowloon Road has sold 92% of its residential units, with completion expected in the fiscal year 2020/2021[53] - The group sold 100% of residential units at several completed projects, including 96% at Yat Lung Garden and 100% at Yat Lung Bay[23] Investment Properties - The value of total investment properties (including joint ventures and associates) was HKD 83.3853 billion, a decrease of 3.36% year-on-year[32] - The group’s investment property portfolio includes approximately 11.8 million square feet of attributable gross floor area across various regions[32] - The group’s commercial properties accounted for 61.6% of the total investment property area[32] Market Outlook and Strategy - The group is optimistic about the economic and property market outlook in Hong Kong, believing it can overcome current challenges[45] - The group aims to selectively enhance land reserves to improve profit potential[24] - The group is positioned to benefit from the ongoing rapid development in the Greater Bay Area and the Belt and Road Initiative, reinforcing Hong Kong's status as an international financial hub[45] Sustainability and Community Engagement - The group launched the integrated green project "Happy Farming" in March 2020, promoting urban agriculture across various locations in Hong Kong, covering over 23,000 square feet[41] - The group signed the United Nations Global Compact in April 2020, committing to responsible business practices and corporate governance[41] - The group recorded over 174,000 volunteer service hours during the reporting period, demonstrating its commitment to community service[41] - The company aims to reduce greenhouse gas emissions by 30% from 2012 levels by 2030, with a current reduction of 17.73% achieved as of June 2020[148] Corporate Governance - The board consists of 11 directors, including 6 executive directors, 1 non-executive director, and 4 independent non-executive directors[168] - The company has adhered to the corporate governance code as outlined in the Hong Kong Stock Exchange Listing Rules[167] - The board emphasizes high levels of corporate governance practices and transparency to enhance financial performance and shareholder value[167] Employee Engagement and Training - The group provided 106,000 hours of training to employees during the fiscal year, focusing on enhancing customer service quality and digital awareness[127] - The average training hours per employee was 11 hours during the 2019/2020 financial year, with a goal to increase this by 50% and 100% by 2025 and 2030 respectively[149] - The group launched a new employee wellness program in 2020, promoting a healthy lifestyle through various activities, with over 4,000 participants[126] Awards and Recognition - The group won three awards at the 9th Asian Excellence Awards, including Best Environmental Responsibility and Best Investor Relations Company[123] - The group has received 387 awards for its security services, including 26 for property management and 361 for security personnel[133] - The group has been awarded the "Caring Company" logo for 15 years, recognizing its commitment to corporate social responsibility[134]