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]

Financial Performance - Unaudited profit attributable to shareholders for the interim period ended December 31, 2018, was HKD 3.13 billion, compared to HKD 10.37 billion in the same period last year[6] - The previous interim period included a one-time gain of HKD 5.65 billion from the sale of an 80% stake in the Sino-Ocean Taikoo Li Chengdu property development project[6] - Excluding the one-time gain, the profit for the previous interim period was HKD 3.95 billion[6] - The interim period's profit included an investment property revaluation surplus (net of deferred tax) of HKD 865.4 million, compared to HKD 869.1 million in the previous interim period[6] - Basic profit attributable to shareholders, excluding the impact of investment property fair value changes, was HKD 2.37 billion for the interim period, compared to HKD 8.93 billion (restated) in the previous interim period[6] - Basic earnings per share for the interim period were HKD 0.47, compared to HKD 1.64 in the previous interim period[6] - Revenue for the six months ended December 31, 2018, was HKD 4,597,773,093, compared to HKD 3,927,930,833 in the same period in 2017[21] - Gross profit for the six months ended December 31, 2018, was HKD 2,223,796,752, down from HKD 2,331,050,422 in the same period in 2017[21] - Net profit attributable to shareholders for the six months ended December 31, 2018, was HKD 3,130,676,100, compared to HKD 10,366,603,116 in the same period in 2017[21] - Total comprehensive income for the six months ended December 31, 2018, was HKD 2,729,258,960, down from HKD 10,265,755,709 in the same period in 2017[22] - Property sales revenue increased to HKD 1,864,337,609, up 43.1% compared to HKD 1,302,961,192 in the previous year[59] - Total revenue from goods and services reached HKD 2,897,803,958, a 25.4% increase from HKD 2,310,276,601[59] - Property rental income rose to HKD 1,641,617,907, up 5.6% from HKD 1,554,926,706[59] - Interest income from receivable loans grew to HKD 32,979,195, a 22.4% increase from HKD 26,935,907[59] - Revenue from the Hong Kong market surged to HKD 3,869,098,815, a 70.2% increase from HKD 2,272,552,756[59] - Revenue from the China market decreased to HKD 198,723,010, down 82.6% from HKD 1,143,605,863[59] - Revenue from the Singapore market increased to HKD 529,951,268, up 3.6% from HKD 511,772,214[59] - Property sales revenue increased to HKD 2,146,518,631, up from HKD 1,548,909,532 in the previous year[61][62] - Property leasing revenue rose to HKD 2,107,787,295, compared to HKD 1,736,928,326 in the prior year[61][62] - Hotel operations revenue grew to HKD 704,581,285, up from HKD 298,026,967 in the previous year[61][62] - Total segment profit for the period was HKD 2,805,943,138, down from HKD 3,791,514,605 in the prior year[61][62] - Investment property fair value changes amounted to HKD 635,658,916, an increase from HKD 434,304,569 in the previous year[64] - Financial income net increased to HKD 265,517,457, up from HKD 196,335,151 in the prior year[64] - Interest income from bank deposits and loans to associates and joint ventures rose to HKD 292,808,582, compared to HKD 240,121,651 in the previous year[66] - Financial costs decreased to HKD 26,425,458, down from HKD 43,401,108 in the prior year[67] - Share of associates' investment property fair value changes was HKD 257,971,016, a decrease from HKD 504,615,243 in the previous year[68] - Share of joint ventures' investment property fair value changes was HKD 10,015,255, down from HKD 23,635,851 in the prior year[69] - Prepaid land lease amortization amounted to HKD 10,026,488 for the six months ended December 31, 2018[70] - Cost of property sales recognized as cost of sales was HKD 1,247,812,970 for the six months ended December 31, 2018[70] - Hotel inventory cost recognized as direct expenses was HKD 67,307,488 for the six months ended December 31, 2018[70] - Depreciation of property, plant, and equipment was HKD 41,398,467 for the six months ended December 31, 2018[70] - Hong Kong profits tax was HKD 211,148,786 for the six months ended December 31, 2018[70] - Overseas tax was HKD 86,154,219 for the six months ended December 31, 2018[70] - Deferred tax amounted to HKD 301,711,690 for the six months ended December 31, 2018[70] - Interim dividend declared was HKD 0.14 per share, totaling HKD 946,414,706 for the six months ended December 31, 2018[72] - Basic earnings per share were HKD 3,130,676,100 for the six months ended December 31, 2018[74] - Investment property fair value gain was HKD 635,658,916 for the six months ended December 31, 2018[77] Assets and Liabilities - The company's cash and bank deposits stood at HK$26.5746 billion as of December 31, 2018, with net cash of HK$22.3465 billion after deducting total borrowings of HK$4.2281 billion[15] - The company's total assets and total equity were HK$161.7386 billion and HK$141.5949 billion, respectively[15] - Total assets as of December 31, 2018, were HKD 161,738,595,068, compared to HKD 159,107,395,674 as of June 30, 2018[23] - Total equity as of December 31, 2018, was HKD 142,468,698,873, up from HKD 140,442,116,483 as of June 30, 2018[24] - Long-term bank borrowings as of December 31, 2018, were HKD 3,651,221,167, compared to HKD 1,656,000,000 as of June 30, 2018[24] - Investment properties as of December 31, 2018, were valued at HKD 63,716,634,160, up from HKD 62,712,904,952 as of June 30, 2018[23] - The company's total equity as of December 31, 2018, was HKD 142,468,698,873, with a decrease in exchange reserves of HKD 379,063,578[25] - Net cash used in operating activities for the six months ended December 31, 2018, was HKD 36,721,464, a significant improvement from HKD 4,652,772,628 in the same period of 2017[26] - Cash and cash equivalents decreased by HKD 1,061,950,635 in the six months ended December 31, 2018, compared to a decrease of HKD 5,073,699,934 in the same period of 2017[27] - The company's cash and cash equivalents balance as of December 31, 2018, was HKD 6,698,431,948, up from HKD 4,895,729,139 at the end of 2017[27] - Net cash from financing activities for the six months ended December 31, 2018, was HKD 1,750,103,245, compared to a net cash used of HKD 5,414,270,568 in the same period of 2017[26] - The company's retained profits as of December 31, 2018, were HKD 95,356,326,130, up from HKD 94,539,559,180 at the end of 2017[25] - Net cash used in investing activities for the six months ended December 31, 2018, was HKD 2,775,332,416, compared to HKD 4,993,343,262 in the same period of 2017[26] - The company's total comprehensive income for the six months ended December 31, 2018, was HKD 2,729,258,960, down from HKD 10,265,755,709 in the same period of 2017[25] - The company's total assets as of December 31, 2018, were HKD 141,594,939,087, up from HKD 137,866,989,473 at the end of 2017[25] - The company's non-controlling interests as of December 31, 2018, were HKD 873,759,786, down from HKD 983,916,662 at the end of 2017[25] - Investment in associates' equity increased to HKD 21,757,244,162 as of December 31, 2018, up from HKD 20,157,208,184 as of June 30, 2018[79] - Loans to associates (net of provisions) decreased to HKD 2,153,720,033 as of December 31, 2018, down from HKD 2,858,796,861 as of June 30, 2018[79] - Investment in joint ventures' equity increased to HKD 3,320,590,241 as of December 31, 2018, up from HKD 3,262,044,031 as of June 30, 2018[81] - Loans to joint ventures decreased to HKD 7,748,887,897 as of December 31, 2018, down from HKD 10,843,649,095 as of June 30, 2018[81] - Trade receivables (net of bad debt provisions) increased to HKD 244,748,191 as of December 31, 2018, up from HKD 205,530,033 as of June 30, 2018[83] - Trade payables increased to HKD 156,498,771 as of December 31, 2018, up from HKD 147,047,844 as of June 30, 2018[85] - The company secured a new bank loan of HKD 2,000,000,000 during the six months ended December 31, 2018[87] - The company issued 157,043,742 ordinary shares at HK$12.344 per share in lieu of cash dividends for the 2018 final dividend, compared to 133,807,481 shares at HK$13.508 per share in the same period of 2017[88] - No ordinary shares were repurchased on the Hong Kong Stock Exchange in the six months ended December 31, 2018, whereas 920,000 shares were repurchased and canceled in the same period of 2017[89] - The company's non-controlling interest provided loans totaling HK$14,678,959 with an annual interest rate of 6.25%, and HK$1,446,513,682 was interest-free and had no fixed repayment period[91] - The company sold 80% equity interest in a wholly-owned subsidiary, Sino Land (Chengdu) Co., Ltd., for RMB 8,767,500,000 (approximately HK$10,510,000,000) in the six months ended December 31, 2017[92] - The fair value of listed equity securities classified as financial assets at fair value through profit or loss was HK$9,869,657 as of December 31, 2018[94] - Financial assets measured at fair value through other comprehensive income (FVOCI) reclassified from available-for-sale investments amounted to HKD 2,961,578 as of July 1, 2018[97] - Total bank borrowings secured by the company's assets were HKD 34,469,000 as of December 31, 2018, down from HKD 177,638,000 as of June 30, 2018[98] - The total book value of assets pledged as collateral for borrowings was HKD 1,754,274,336 as of December 31, 2018, slightly down from HKD 1,761,551,516 as of June 30, 2018[99] - Loans and advances to associates and joint ventures increased significantly to HKD 9,775,956,000 as of December 31, 2018, up from HKD 4,354,618,000 as of June 30, 2018[99] - Contingent liabilities related to bank loan financing for associates and joint ventures totaled HKD 7,939,172,631 as of December 31, 2018, up from HKD 3,143,157,872 as of June 30, 2018[101] - The company's share of utilized bank loan financing for associates and joint ventures was HKD 5,513,567,631 as of December 31, 2018, more than double the HKD 2,462,157,872 as of June 30, 2018[101] - Unutilized bank loan financing for associates and joint ventures increased to HKD 2,425,605,000 as of December 31, 2018, up from HKD 681,000,000 as of June 30, 2018[101] - The company's investment properties had a book value of HKD 249,896,625 as of December 31, 2018, slightly up from HKD 249,265,875 as of June 30, 2018[99] - Hotel properties had a book value of HKD 785,980,724 as of December 31, 2018, down from HKD 788,325,506 as of June 30, 2018[99] - Prepaid land lease payments decreased to HKD 718,396,987 as of December 31, 2018, down from HKD 723,960,135 as of June 30, 2018[99] - The company's total debt attributable to its associates increased from HKD 18,441,447,484 as of June 30, 2018, to HKD 22,743,349,236 as of December 31, 2018[117] - Bank loans attributable to the company's associates rose from HKD 2,462,157,872 as of June 30, 2018, to HKD 6,195,403,219 as of December 31, 2018[117] - The company provided loans amounting to HKD 16,547,946,017 as of December 31, 2018, compared to HKD 15,979,289,612 as of June 30, 2018[117] Corporate Governance and Committees - The company has established various committees including Audit Committee, Compliance Committee, Remuneration Committee, and Nomination Committee to ensure best corporate governance practices[16] - The company has been a constituent of the Hang Seng Corporate Sustainability Index Series since September 2012, reflecting its commitment to sustainability and corporate social responsibility[17] - The company issued its first green loan under the Green Finance Framework to invest in sustainable building projects, enhancing environmental benefits[17] - The Tai O Heritage Hotel, operated by the company, has hosted over 1.2 million local and international visitors since its opening in March 2012[17] - The company acknowledges the contributions of Ms. Yip Mo Lin, who served on the board for over seven years, upon her departure in February 2019[20] Strategic and Market Focus - The company emphasizes the economic transformation of China over the past 40 years, shifting from a primary industry economy to a service and innovation-driven economy[18] - The company highlights the strategic importance of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development, aiming to integrate 11 major cities by 2035[18] - The company notes the impact of the US-China trade dispute on global economic uncertainty and financial market volatility[18] - The company plans to increase revenue, efficiency, and productivity while maintaining selective strategies for land replenishment to enhance profitability[19] - The company’s recurring businesses, including property leasing, hotel and catering services, and property management, continue to provide stable income[19] Land and Property Development - The company's land reserve as of December 31, 2018, totaled 21.7 million square feet, with 40% commercial, 36% residential, 11% industrial, 7% parking, and 6% hotel properties[8] - The company acquired a residential site in Hong Kong with a total gross floor area of 11,582 square feet during the mid-year period[9][10] - Two projects, Hei Yee and Hiu Yu, obtained "Certificates of Compliance" in November 2018 and January 2019, respectively, with a total gross floor area of 221,104 square feet[11] - The company's land reserve in Mainland China as of December 31, 2018, was 5.3 million square feet, with 4.3 million square feet under development[14] Rental and Hotel Operations - Total rental income increased by 4.8% to HK$2.0975 billion, with net rental income rising by 4.7% to HK$1.8301 billion[