智通财经APP获悉，摩比发展(00947)、俊知集团(01300)、威高股份(01066)、国泰君安国际(01788)、亚 洲金融(00662)、天福(06868)、昊海生物科技(06826)、清科创业(01945)、中国有赞(08083)、归创通桥- B(02190)、上海石油化工股份(00338)、周黑鸭(01458)、信利国际(00732)、四环医药(00460)、嬴集团 (00397)、旭日企业(00393)、太古股份公司A(00019)、天鸽互动(01980)、中裕能源(03633)、阅文集团 (00772)、澳优(01717)、力鸿检验(01586)、乐声电子(00213)、太古地产(01972)、百融云-W(06608)、名 创优品(09896)、玄武云(02392)、明源云(00909)、太古股份公司B(00087)、和誉-B(02256)、骏杰集团控 股(08188)、乐华娱乐(02306)、KEEP(03650)、MONGOL MINING(00975)、瑞声科技(02018)、永达汽车 (03669)、瑞尔集团(06639)、思派健康(00314)、卡罗特(N24025)、捷利交易宝(0 ...

Financial Performance - The company's return on equity decreased to 1.6% in 2024 from 11.0% in 2023, a decline of 9.4 percentage points[14]. - The total profit attributable to shareholders dropped by 85% to HKD 4,321 million in 2024 from HKD 28,853 million in 2023[14]. - Revenue fell by 14% to HKD 81,969 million in 2024 compared to HKD 94,823 million in 2023[14]. - The basic earnings per share for 'A' shares decreased by 85% to HKD 3.06 in 2024 from HKD 19.96 in 2023[14]. - The consolidated profit attributable to shareholders for 2024 was HKD 4.32 billion, down from HKD 28.85 billion in 2023[16]. - The basic profit attributable to shareholders, excluding losses from fair value changes of investment properties, was HKD 10.47 billion in 2024, compared to HKD 36.17 billion in 2023[16]. - The recurring basic profit, excluding fair value changes and significant non-recurring items, was HKD 9.28 billion in 2024, down from HKD 10.44 billion in 2023[16]. - The company reported a total operating profit of HKD 1,716 million for 2024, significantly down from HKD 5,141 million in 2023, a decline of 66.66%[76]. - The basic profit attributable to shareholders is HKD 6,713 million for 2024, compared to HKD 11,531 million in 2023, a decrease of 41.56%[77]. - The company reported a fair value loss on investment properties of HKD 6,197 million in 2024, compared to HKD 4,423 million in 2023[79]. - The recurring basic profit for 2024, excluding asset sales, was HKD 5.727 billion, down from HKD 5.942 billion in 2023, reflecting a decline in rental income from Hong Kong office properties[100]. - The company reported a total profit including non-recurring items of HKD 2,039 million, down 91.9% from HKD 25,097 million in 2023[199]. Debt and Liquidity - The net debt increased by 28% to HKD 70,563 million in 2024 from HKD 55,136 million in 2023[14]. - The group's available liquid funds at the end of 2024 amounted to HKD 43.1 billion, with a net debt-to-capital ratio of 22.1%[30]. - The company reported a net cash generated from operating activities, indicating a focus on maintaining liquidity[67]. Sustainability and Environmental Impact - The company reported a 11% reduction in greenhouse gas emissions to 645 thousand tons of CO2 equivalent in 2024 from 723 thousand tons in 2023[15]. - The energy consumption decreased by 11% to 5.4 million gigajoules in 2024 from 6.1 million gigajoules in 2023[15]. - Swire Coca-Cola utilized 42% renewable energy in its major operations by the end of 2024, with all eight bottling plants in mainland China using 100% renewable energy[32]. - The group continues to focus on sustainable development through its SwireTHRIVE strategy, achieving recognition in various sustainability indices[31]. - Swire Coca-Cola's sustainability goals for 2030 are integrated into its business plans, ensuring that all decision-making processes consider sustainable development[190]. Business Expansion and Investments - The company is focusing on expanding its business in healthcare, particularly in major urban areas in mainland China and Southeast Asia[13]. - The company aims to maintain a stable dividend payout while pursuing long-term growth strategies in the Greater China and Southeast Asia regions[7]. - Swire Properties has committed approximately 67% of its HKD 100 billion investment plan, with HKD 50 billion allocated for major retail-led projects in mainland China[19]. - The company plans to continue its HKD 100 billion investment program, focusing on core markets and seeking business expansion opportunities, particularly in the Greater Bay Area[33]. - The company is actively pursuing new strategies, including enhancing community engagement and sustainability measures within its office properties[107]. - Swire Properties announced a HKD 100 billion investment plan for property development projects in Hong Kong and mainland China over the next decade, with HKD 30 billion allocated for Hong Kong, HKD 50 billion for mainland China, and HKD 20 billion for residential sales projects[103]. Market Performance and Outlook - The Hong Kong office market is expected to remain weak, but the company's properties in Taikoo Place are well-positioned for recovery[33]. - Retail sales growth in mainland China is anticipated to accelerate due to improved domestic demand and recent economic stimulus measures[33]. - The company expects revenue growth from its Coca-Cola business in mainland China, driven by an excellent product and packaging mix[33]. - The Hong Kong office market remains challenging, with weak demand and high vacancy rates putting downward pressure on rental prices[101]. - Retail sales in mainland China showed signs of stabilization in Q4 2024, following government stimulus measures announced in September[83]. - The hotel business outlook in Hong Kong is cautiously optimistic, depending on the recovery of international and business travelers[170]. Acquisitions and Joint Ventures - Swire Coca-Cola agreed to acquire over 55.6% of ThaiNamthip Corporation for approximately THB 42.61 billion (about HKD 9.47 billion) in two phases, completing the first phase in February 2024[21]. - The group completed the acquisition of a controlling stake in Dada Healthcare in April 2024, marking its first major investment in the healthcare sector[28]. - Swire Coca-Cola acquired 39% of the issued share capital of ThaiNamthip Corporation Public Company Limited (TNTC) and increased its stake to approximately 55.7% by September 30, 2024, making TNTC a non-wholly owned subsidiary[176]. - The company completed acquisitions of exclusive operations in Cambodia and Vietnam on November 25, 2022, and January 1, 2023, respectively[198]. - The acquisition of exclusive operations in Thailand and Laos is expected to be completed by September 30, 2024[198]. Operational Performance - The overall performance of Swire Coca-Cola remained robust in 2024, reflecting the continued recovery in the aviation industry and the challenges faced by Swire Properties[23]. - Swire Coca-Cola recorded a recurring profit of HKD 1.388 billion in 2024, down from HKD 2.394 billion in 2023, with a 20% increase in recurring profit when excluding the impact of the sale of US Swire Coca-Cola[25]. - Cathay Pacific Group achieved a profit of HKD 9.888 billion in 2024, including special income of HKD 751 million, compared to HKD 9.789 billion in 2023, driven by strong travel demand and cargo performance[27]. - The beverage division serves 941 million consumers across various regions, including mainland China, Hong Kong, and Southeast Asia[173]. - Swire Coca-Cola's operational regions include 42 bottling plants, with a total annual sales volume of 2.132 billion standard cases[197]. Real Estate and Property Development - The company’s total floor area for investment properties and hotels is approximately 35.2 million square feet, with 24.4 million square feet completed[61]. - The company holds a 20% stake in several hotels in Hong Kong and has plans to expand its hotel management business into Japan and various cities in mainland China[62]. - The total investment property area is projected to be 35.2 million square feet by December 31, 2024, an increase from 34.4 million square feet in 2023[74]. - The rental income from office properties is HKD 5,488 million, down from HKD 5,835 million in 2023, a decrease of 5.95%[76]. - The rental income from Hong Kong office properties for 2024 was HKD 5.109 billion, a decrease of 7% compared to 2023, with a rental income decline of 4% after excluding losses from the sale of nine floors of the Island East Centre[107]. - The occupancy rate of Swire Properties' office portfolio was 89% as of December 31, 2024, with the newly launched properties achieving a 53% occupancy rate[107]. - The residential property portfolio's occupancy rate was 76% as of December 31, 2024, with ongoing developments including the residential project in Lujiazui, Shanghai, where 49 out of 50 units have been pre-sold[106]. - The company is expanding its retail presence in first-tier cities in mainland China, planning to double the total floor area[104]. - The company is committed to developing high-quality residential properties as part of its long-term growth strategy[73].

证券时报•数据宝统计，太古股份公司B在港交所公告显示，3月19日以每股10.800港元至10.880港元的 价格回购29.00万股，回购金额达314.61万港元。 （数据宝） 太古股份公司B回购明细 该股当日收盘价10.880港元，上涨0.37%，全天成交额986.10万港元。 ...

Financial Performance - The company's equity return decreased to 1.6% in 2024 from 11.0% in 2023, a decline of 9.4 percentage points [4]. - The basic profit attributable to shareholders dropped by 85% to HKD 4,321 million in 2024 from HKD 28,853 million in 2023 [4]. - Revenue fell by 14% to HKD 81,969 million in 2024 compared to HKD 94,823 million in 2023 [4]. - The net debt increased by 28% to HKD 70,563 million in 2024 from HKD 55,136 million in 2023 [4]. - The consolidated profit attributable to shareholders for 2024 was HKD 4.32 billion, down from HKD 28.85 billion in 2023 [15]. - The basic profit attributable to shareholders, excluding losses from fair value changes of investment properties, was HKD 10.47 billion in 2024, compared to HKD 36.17 billion in 2023 [15]. - The recurring basic profit for 2024 was HKD 9.28 billion, a decrease from HKD 10.44 billion in 2023 [15]. - The group reported a loss attributable to shareholders of HKD 751 million, compared to a profit of HKD 2,599 million in 2023 [49]. - Basic profit attributable to shareholders was HKD 6,713 million, down 41.5% from HKD 11,531 million in 2023 [49]. - The hotel segment reported an operating loss of HKD 154 million, compared to a loss of HKD 103 million in 2023 [46]. Investment and Expansion Plans - The company plans to continue investing in the healthcare sector, particularly in major urban areas in mainland China and Southeast Asia [12]. - Swire Properties has committed approximately 67% of its HKD 100 billion investment plan, with HKD 50 billion allocated for major retail-led projects in mainland China [17]. - The group announced a new investment plan exceeding HKD 100 billion, including the acquisition of over 100 new generation aircraft [21]. - Swire Properties plans to continue its HKD 100 billion investment program, focusing on core markets and expanding business opportunities, particularly in the Greater Bay Area [34]. - The company is actively pursuing a HKD 1 billion investment plan over the next decade, focusing on property development projects in Hong Kong and mainland China [61]. - The company plans to acquire the remaining 12.07% interest in Bal Harbour Shops in January 2025, increasing its ownership in the Brickell City Centre shopping center to 62.93% [90]. Operational Performance - The operating cash flow decreased by 13% to HKD 12,580 million in 2024 from HKD 14,479 million in 2023 [4]. - The operating profit for property investment was HKD 8,242 million, slightly down from HKD 8,253 million in 2023 [46]. - The hotel management segment includes ownership and management of several hotels in Hong Kong and mainland China, with plans to expand into Tokyo and other cities [39]. - The company recorded a depreciation before interest and tax of HKD 170 million for its hotels managed in 2024, down from HKD 880 million in 2023, indicating challenges in the hospitality sector [96]. - The company anticipates stable demand for base maintenance services in 2025, with continued growth in field maintenance workload as Hong Kong's air traffic is expected to recover to pre-pandemic levels [193]. Market Conditions and Challenges - The Hong Kong office market is anticipated to remain weak, but Swire Properties' office portfolio in Taikoo Place is well-positioned for recovery [34]. - The office market in Hong Kong remains weak due to soft demand and increased supply, impacting rental rates negatively [51]. - The hotel business in Hong Kong is recovering slower than expected, while the performance of hotels in mainland China remains stable [60]. - The company anticipates sales growth in Taiwan and Cambodia, despite challenges in the Hong Kong business environment [34]. - The retail sales in Hong Kong decreased in 2024, while the retail sales and rental income in the US increased compared to 2023, driven by tenant mix optimization and higher store opening rates [60]. Sustainability and Corporate Responsibility - The company aims to achieve net-zero carbon emissions by 2050 as part of its long-term strategy [159]. - Swire Coca-Cola utilized 42% renewable energy in its major operations by the end of 2024, with all eight bottling plants in mainland China using 100% renewable energy [33]. - The group is preparing for regulatory requirements to enhance internal monitoring of sustainability-related processes and data [33]. - The company has set sustainability goals for 2030, integrating them into its business planning [126]. - The company plans to enhance its brand portfolio and improve operational efficiency to drive long-term sustainable growth [122]. Sector-Specific Insights - The beverage segment reported revenues of HKD 36,609 million, a decrease of 29.3% from HKD 51,844 million in 2023 [127]. - The operating business revenue from Mainland China increased to HKD 25.234 billion in 2024, up 3% from HKD 24.725 billion in 2023 [128]. - The total number of beverage brands produced and distributed by the company reached 41, covering a population of 909.9 million in its operating regions [118]. - The company expects continued contributions from newly acquired operations in Thailand and Laos, despite the adverse impact from the sale of the US operations [133]. - The company anticipates revenue growth in mainland China, despite rising raw material and operating costs [150]. Aviation Sector Performance - Cathay Pacific Group reported a revenue of HKD 21,662 million for 2024, up 21.0% from HKD 17,787 million in 2023 [160]. - Passenger revenue increased to HKD 62,595 million, representing an 11.9% growth compared to HKD 55,951 million in 2023 [162]. - Cargo revenue reached HKD 24,000 million, reflecting an 8.3% increase from HKD 22,162 million in 2023 [162]. - The total number of passengers carried by Cathay Pacific in 2024 was 22.8 million, averaging 62,500 passengers per day, a 27% increase from 2023 [165]. - The group plans to receive 12 new aircraft in 2024 and has the option to purchase an additional 82 aircraft [174].

Financial Performance - The company reported a profit attributable to shareholders of HKD 3,914 million for the six months ended June 30, 2024, a decrease of 7% compared to HKD 4,221 million in the same period of 2023[9]. - Revenue for the same period was HKD 39,563 million, down 23% from HKD 51,544 million year-on-year[9]. - The operating profit was HKD 4,945 million, reflecting a 3% decline from HKD 5,079 million in the previous year[9]. - In the first half of 2024, the attributable consolidated profit for shareholders was HKD 39.14 billion, down from HKD 42.21 billion in the same period of 2023, representing a decrease of approximately 6.5%[16]. - The recurring basic profit, excluding changes in investment property values, was HKD 55.76 billion, compared to HKD 55.94 billion in the first half of 2023, showing a slight decrease of about 0.3%[16]. - The attributable profit for the first half of 2024 was HKD 1,795 million, a decrease from HKD 2,222 million in the same period of 2023[40]. - The total attributable profit, excluding non-recurring items, for the first half of 2024 was HKD 878 million, compared to HKD 714 million in the same period of 2023[103]. - The attributable profit for the first half of 2024 from mainland China was HKD 543 million, a decrease of 12% compared to the same period in 2023, with local currency profit down by 7%[118]. Debt and Financial Position - The company’s net debt decreased by 5% to HKD 63,479 million from HKD 66,915 million in 2023[9]. - The net debt to equity ratio (excluding lease liabilities) improved to 19.8%, down from 21.4% in the previous year[9]. - The group has a robust financial position with available liquid funds of HKD 46.8 billion as of June 30, 2024, and a capital net debt ratio of 19.8%[26]. - The total borrowings and debt securities as of June 30, 2024, amounted to HKD 109.72 billion, with HKD 30.46 billion (27%) remaining undrawn[200]. - The company reported a net cash increase of HKD 3,741 million for the six months ended June 30, 2024, compared to HKD 633 million in the same period of 2023[198]. Investment and Development Plans - The company is committed to a ten-year investment plan of HKD 100 billion, with 65% of the funds allocated to property development projects in core markets as of August 2, 2024[13]. - The company plans to continue investing in core markets and is actively seeking opportunities in the Greater Bay Area, having signed a memorandum of understanding with the Shenzhen government[29]. - The company has committed approximately HKD 650 billion for planned investments, with HKD 110 billion allocated to Hong Kong and HKD 440 billion to mainland China[49]. - The investment plan includes HKD 300 billion for Hong Kong, HKD 500 billion for mainland China, and HKD 200 billion for residential sales projects[49]. - The company plans to increase the total floor area of retail-led developments in mainland China by 100%[50]. Sector Performance - The beverage sector showed stable performance, while the real estate sector performed well despite increasing adverse factors[12]. - The aviation sector significantly contributed to the company's performance, with Cathay Pacific achieving a profit of HKD 36.13 billion in the first half of 2024, down from HKD 42.68 billion in the same period of 2023, which included a special income of HKD 21 billion[20]. - Swire Properties reported a recurring basic profit of HKD 28.98 billion in the first half of 2024, a decrease of 9% from HKD 31.88 billion in the same period of 2023, attributed to increased financial expenses and reduced rental income from office properties[17]. - Swire Coca-Cola recorded a recurring profit of HKD 8.78 billion in the first half of 2024, down from HKD 16.27 billion in the same period of 2023, primarily due to the sale of Swire Coca-Cola USA[19]. Shareholder Returns - The company plans to enhance shareholder returns through regular dividends and a share buyback program set to complete in May 2025[13]. - The company announced an interim dividend of HKD 1.25 per 'A' share and HKD 0.25 per 'B' share, representing a 4% increase compared to the first interim dividend in 2023[24]. Market Outlook - The company remains confident in the business outlook across core markets despite market volatility and global uncertainties[12]. - The Hong Kong office market is expected to remain weak in the second half of 2024 due to soft market demand and oversupply[64]. - The retail market is expected to stabilize in the second half of 2024, with luxury brand retailers showing strong demand in Guangzhou and Chengdu[78]. - The overall sentiment in the office rental market remains negative due to economic uncertainty, with expectations of rental declines in major cities like Beijing and Shanghai[78]. Operational Highlights - Cathay Pacific's passenger flights reached 80% of pre-pandemic levels in the second quarter of 2024, reflecting a strong recovery in the aviation sector[20]. - The number of passengers carried increased by 36.4% to 10.66 million in the first half of 2024, compared to 7.816 million in the same period of 2023[139]. - The company completed 158 engine overhauls in the first half of 2024, up from 141 in the same period of 2023, reflecting strong demand for engine repair services[164]. - The company’s engine business recorded a profit of HKD 345 million in the first half of 2024, a 31% increase compared to the same period of 2023[163]. Challenges and Risks - The hotel business in Hong Kong is recovering slower than expected, while performance in mainland China remains relatively stable[48]. - The company anticipates continued challenges in mainland China due to sluggish local consumption, but stable raw material costs and effective cost management may alleviate profit pressures[127]. - Despite the Hong Kong government's removal of stamp duty measures in February 2024, the residential property market remains soft due to economic uncertainty and high interest rates[99].

Financial Performance - For the six months ended June 30, 2024, the company's profit attributable to shareholders was HKD 3,914 million, a decrease of 7% compared to HKD 4,221 million in the same period of 2023[10] - The company's revenue for the same period was HKD 39,563 million, reflecting a decline of 23% from HKD 51,544 million in 2023[10] - The basic earnings per share for 'A' shares was HKD 3.90, an increase of 1% from HKD 3.86 in the previous year[10] - Swire Group reported a consolidated profit attributable to shareholders of HKD 39.14 billion for the first half of 2024, down from HKD 42.21 billion in the same period of 2023[18] - Swire Properties' recurring underlying profit for the first half of 2024 was HKD 28.998 billion, a decrease of 9% compared to HKD 31.888 billion in the first half of 2023[19] - Swire Coca-Cola recorded a recurring profit of HKD 8.778 billion in the first half of 2024, down from HKD 16.627 billion in the same period of 2023[20] - Cathay Pacific's profit for the first half of 2024 was HKD 36.131 billion, compared to HKD 42.668 billion in the same period of 2023[22] - The attributable profit excluding non-recurring items for Swire Properties was HKD 878 million for the six months ended June 30, 2024[98] - The attributable profit for Swire Coca-Cola in the first half of 2024 was HKD 878 million, a decrease of 38% compared to HKD 1.423 billion in the same period of 2023[105] Debt and Financial Ratios - The company reported a net debt of HKD 63,479 million, a decrease of 5% from HKD 66,915 million in 2023[10] - The capital net debt ratio (excluding lease liabilities) improved to 19.8%, down from 21.4% in the previous year[10] - As of June 30, 2024, the company has available liquid funds of HKD 46.8 billion and a net debt-to-capital ratio of 19.8%[26] - The total borrowings and debt securities as of June 30, 2024, amounted to HKD 109,723 million, with HKD 30,046 million remaining undrawn[195] - The weighted average debt maturity was 2.8 years as of June 30, 2024, compared to 3.2 years as of December 31, 2023[197] - The weighted average cost of debt was 4.0% as of June 30, 2024, consistent with the rate as of December 31, 2023[197] Sector Performance - The aviation sector continued to be a major driver of basic earnings, benefiting from strong demand for travel and cargo services[12] - The beverage sector showed stable performance, while the real estate sector performed well despite increasing adverse factors[12] - The hotel business in Hong Kong showed slower recovery than expected, while the performance of hotels in mainland China remained relatively stable[44] - The rental income from office properties decreased, partly due to the loss of revenue from the sale of the office floors in the Island East Centre in December 2023[44] - The retail property portfolio in Hong Kong performed weakly, prompting the company to implement optimization measures and marketing activities to attract local customers and tourists[44] Strategic Investments and Plans - The company is focused on strategic and long-term investment plans in core markets including Hong Kong, mainland China, and Southeast Asia[13] - Swire Properties has committed 65% of its HKD 100 billion investment plan in core market property development projects as of August 2, 2024[14] - The company plans to enhance shareholder returns through regular dividends and a share buyback program to be completed by May 2025[13] - The company plans to continue investing in core markets, with a focus on opportunities in the Greater Bay Area, having signed a memorandum of understanding with the Shenzhen government in June 2024[28] - Swire Properties announced a HKD 100 billion investment plan over the next decade, allocating HKD 30 billion for Hong Kong, HKD 50 billion for mainland China, and HKD 20 billion for residential projects including Southeast Asia[45] Market Outlook - The outlook for the next six months remains cautious due to market volatility, economic slowdown, and global uncertainties, but the company maintains confidence in its core market prospects[12] - The company anticipates continued challenges in Hong Kong's retail market due to changing consumer patterns and outbound travel trends, despite efforts to optimize tenant mix and enhance marketing activities[57] - The company expects stable demand for base maintenance services in the second half of 2024, with continued recovery in line maintenance workload[163] Operational Highlights - Cathay Pacific's passenger flights reached 80% of pre-pandemic levels in Q2 2024, marking a significant recovery milestone[17] - The total revenue for the first half of 2024 reached HKD 10,445 million, an increase of 23.3% compared to HKD 8,464 million in the same period of 2023[149] - The group plans to invest significantly in fleet, cabin products, lounges, digital upgrades, and sustainability initiatives to enhance its competitive position as an international aviation hub[144] - The company is actively seeking opportunities to sell assets in the United States as part of its capital recycling strategy[75] Healthcare and Other Operations - In the first half of 2024, the group's attributable loss from healthcare operations was HKD 132 million, compared to a loss of HKD 80 million in the same period of 2023[169] - The group has invested HKD 3.1 billion in the healthcare industry, including investments in mainland China and Indonesia, marking its first entry into the Southeast Asian healthcare market[170] - For the first half of 2024, Swire's attributable profit from trading and industrial operations was HKD 152 million, down from HKD 185 million in the first half of 2023[175] Retail Performance - The rental income from retail properties in Hong Kong totaled HKD 1.198 billion, a decrease of 3% compared to the same period in 2023[51] - Retail sales at Taikoo Place, Cityplaza, and East Point City fell by 13%, 4%, and 3% respectively in the first half of 2024, with overall retail sales in Hong Kong declining by 7%[51] - The overall demand for retail space is expected to stabilize in the second half of 2024, with luxury brand retailers showing strong demand in Guangzhou and Chengdu[71]

Business Operations - Swire Properties operates over 2,200 retail outlets in its shopping malls, employing approximately 70,000 people in its office buildings in Hong Kong[6]. - The beverage division distributes Coca-Cola products to a population of 847 million in Greater China and Southeast Asia, and provides management services to Swire Coca-Cola in the U.S., which serves a population of 31 million[6]. - Cathay Pacific and its subsidiaries operated a fleet of 230 aircraft as of December 31, 2023, providing scheduled passenger and cargo services to 92 destinations globally[6]. - Swire Group employs over 32,000 staff in Hong Kong and more than 35,000 in mainland China, totaling over 78,000 employees globally[6]. Financial Performance - The company reported a significant increase in net profit attributable to shareholders, reaching HKD 28,853 million in 2023, up 588% from HKD 4,195 million in 2022[7]. - Basic earnings per share for 'A' shares surged by 687% to HKD 25.03, while 'B' shares increased by 687% to HKD 5.01[7]. - Revenue for 2023 was HKD 94,823 million, reflecting a 3% increase from HKD 91,693 million in 2022[7]. - Operating profit rose by 150% to HKD 30,621 million, with a significant increase in operating profit excluding fair value changes of investment properties, which reached HKD 33,481 million, up 193%[7]. - The company achieved a cash inflow from operations of HKD 14,479 million, a 20% increase from HKD 12,043 million in 2022[7]. Investment Strategy - The company plans to invest nearly 60% of its HKD 100 billion commitment in core market projects by March 2024[10]. - The company completed the sale of its US Coca-Cola business for HKD 22,900 million, contributing to a record basic profit of HKD 36,200 million in 2023[10]. - The company is expanding its operations in Southeast Asia, with a conditional agreement to acquire over 50% of ThaiNamthip Corporation Ltd. for approximately HKD 9.47 billion[10]. - The company plans to expand its property portfolio, with ongoing developments in Hong Kong and mainland China, including significant projects in Sanya and Xi'an[35]. Sustainability and Governance - The company emphasizes long-term growth and sustainable development, focusing on core sectors in Greater China and Southeast Asia, including real estate, beverages, and aviation[3]. - The company is committed to high standards of corporate governance and maintaining the Swire brand reputation[3]. - The company has implemented internal carbon pricing across its operations, aiming for sustainable development goals[16]. - The company plans to integrate sustainability goals into its business strategy by 2030, empowering employees to contribute to these objectives[91]. Aviation Sector Performance - Cathay Pacific recorded a profit of HKD 9.789 billion in 2023, a significant turnaround from a loss of HKD 6.623 billion in 2022[14]. - Cathay Group's passenger operations served approximately 80 destinations, carrying 18 million passengers in 2023, an increase of over 500% compared to 2022[12]. - Passenger revenue surged by 308.8% to HKD 55,951 million in 2023, compared to HKD 13,686 million in 2022[134]. - The group’s total revenue increased to HKD 17,787 million in 2023, up from HKD 13,828 million in 2022, representing a growth of approximately 28.3%[131]. Real Estate Development - The total floor area attributable to Swire Properties is approximately 34.4 million square feet, with 24.4 million square feet of completed investment properties and hotels, and 10 million square feet under development or held for future development[31]. - Swire Properties' investment properties and hotel portfolio in Hong Kong comprises about 14.2 million square feet, including Grade A office buildings, retail properties, hotels, serviced apartments, and other high-end residential properties[31]. - The company aims to maintain long-term shareholder value growth by focusing on the development of high-end and quality residential properties[34]. - The company plans to redevelop two sites in Quarry Bay, with a total floor area of approximately 779,000 sq ft for office and commercial use[57]. Beverage Sector Performance - The company’s annual revenue for 2023 reached HKD 51.8 billion, excluding the performance of the US Swire Coca-Cola post-sale[92]. - The total annual sales volume was 2.043 billion standard cases, with 1.394 billion cases sold in mainland China[93]. - Swire Coca-Cola produced and distributed 39 beverage brands by the end of 2023, covering a population of 847 million in its operating regions[90]. - The sales revenue from the beverage segment was HKD 2,394 million, slightly up from HKD 2,392 million in 2022[171]. Challenges and Future Outlook - The company anticipates challenges in mainland China due to sluggish domestic consumption and rising raw material costs[115]. - The residential property market in Hong Kong remains soft due to economic uncertainty and high interest rates, but long-term demand is expected to remain stable[85]. - The company expects 2024 to be a year of stable and sustainable growth, continuing to focus on delivering greater value to shareholders[17]. - The group plans to address inflationary pressures through cost efficiency measures and price adjustments in response to labor supply constraints and global supply chain issues[160].

Financial Performance - The company's equity return increased to 11.0% in 2023, up by 9.4 percentage points from 1.6% in 2022[4] - The basic profit attributable to shareholders rose to HKD 36,177 million, a 662% increase from HKD 4,748 million in 2022[4] - The revenue for 2023 was HKD 94,823 million, reflecting a 3% growth compared to HKD 91,693 million in 2022[4] - The operating profit surged to HKD 30,621 million, marking a 150% increase from HKD 12,241 million in the previous year[4] - The group’s net profit attributable to shareholders was HKD 28.85 billion, compared to HKD 41.19 billion in 2022, reflecting a decrease due to non-recurring items[20] - The group recorded a record basic profit of HKD 36.2 billion for the year 2023, driven by significant non-recurring items, including HKD 22.9 billion from the sale of the US Swire Coca-Cola business[14] - The group announced a special dividend of HKD 8.120 per 'A' share and HKD 1.624 per 'B' share following the sale of Swire Coca-Cola in 2023[28] - The group’s recurring basic profit, excluding investment property value changes, was HKD 10.44 billion in 2023, compared to HKD 3.8 billion in 2022, indicating a significant recovery[20] Dividends and Shareholder Returns - The company declared an 'A' share dividend of HKD 11.32, a significant increase of 277% from HKD 3.00 in 2022[4] - The group announced a new share buyback plan of HKD 6 billion in December 2023 to enhance shareholder returns[16] - The group’s gradual dividend policy resulted in a 7% increase in total dividends for 2023 compared to 2022[28] Employee and Operational Insights - The company employed over 32,000 staff in Hong Kong and more than 35,000 in mainland China, totaling over 78,000 employees globally[12] - The airline group operated a fleet of 230 aircraft and provided services to 92 destinations globally as of December 31, 2023[12] Investment and Growth Strategies - The company is actively seeking investment opportunities in the private healthcare sector, particularly in major urban areas in mainland China and Southeast Asia[12] - The group is optimistic about investment opportunities in mainland China and continues to focus on long-term investments in core markets[14] - Swire Properties is committed to investing nearly 60% of its HKD 100 billion plan in core market projects by March 2024[16] - The company plans to focus on the Hong Kong and mainland China markets for future developments, emphasizing high-quality residential properties and asset optimization strategies[46] Real Estate and Property Performance - The total floor area of investment properties and hotels as of December 31, 2023, is 34.4 million square feet, an increase from 29.9 million square feet in 2022[44] - The investment property portfolio includes approximately 24.4 million square feet of completed properties, with 12.1 million square feet in office space and 9.1 million square feet in retail space[44] - The total revenue from the property sector was HKD 14,670 million in 2023, an increase from HKD 13,826 million in 2022, representing a growth of approximately 6.1%[47] - The operating profit from property investment was HKD 8,253 million in 2023, compared to HKD 7,695 million in 2022, showing an increase of about 7.2%[47] Retail and Consumer Insights - The retail sector in mainland China showed strong recovery post-pandemic, contributing positively to the company's overall performance[54] - In 2023, the retail sales in mainland China significantly rebounded post-pandemic, exceeding pre-pandemic levels[61] - The retail sales in Hong Kong's major shopping malls, including Pacific Place, Cityplaza, and Taikoo City, increased by 44%, 43%, and 6% respectively in 2023, contributing to an overall retail sales growth of 16%[71] Beverage Segment Performance - In 2023, the beverage segment reported revenues of HKD 51,844 million, a decrease of 7.5% from HKD 54,225 million in 2022[120] - EBITDA for the beverage segment increased significantly to HKD 28,807 million from HKD 5,545 million in 2022, indicating a substantial improvement in operational efficiency[120] - The beverage segment's sales volume reached 1,940 million unit cases in 2023, with a per capita consumption of 48 ounces in mainland China[112] Aviation and Travel Insights - Cathay Pacific's revenue for 2023 reached HKD 55.951 billion, a 308.8% increase compared to HKD 13.686 billion in 2022[152] - The passenger load factor improved to 85.7% in 2023, up from 73.6% in 2022, representing an increase of 12.1 percentage points[149] - The group expects passenger flights to reach 80% of pre-pandemic levels by Q2 2024 and aims for 100% by Q1 2025[164] Sustainability Initiatives - The company has set sustainability goals for 2030, integrating them into its business planning and decision-making processes[118] - Cathay Pacific aims to increase the use of sustainable aviation fuel to 10% of total fuel consumption by 2030 and achieve net-zero carbon emissions by 2050[33] Challenges and Market Conditions - The company anticipates challenges in mainland China due to sluggish consumer spending, while expecting stable growth in Hong Kong and improvements in Cambodia[138] - The Hong Kong office market is expected to remain weak in 2024 due to soft demand and increased supply, with rental rates under pressure[104]

Financial Performance - The company reported a significant increase in profit attributable to shareholders, reaching HKD 4,221 million for the six months ended June 30, 2023, a 121% increase compared to HKD 1,914 million in the same period of 2022[8]. - Basic earnings rose to HKD 5,594 million, marking a 219% increase from HKD 1,752 million year-on-year[8]. - Revenue for the period was HKD 51,544 million, reflecting a 15% growth compared to HKD 44,808 million in the previous year[8]. - The operating profit decreased by 25% to HKD 5,079 million from HKD 6,794 million in the same period last year[8]. - The company experienced a 284% increase in recurring basic profit, reaching HKD 4,879 million compared to HKD 1,272 million in the same period of 2022[8]. - The company's consolidated profit attributable to shareholders for the first six months of 2023 was HKD 42.21 billion, compared to HKD 19.14 billion in the same period of 2022, reflecting a significant increase[15]. - The basic profit attributable to shareholders, excluding changes in investment property values, was HKD 55.94 billion, up from HKD 17.52 billion year-on-year[15]. - The attributable profit for the first half of 2023 was HKD 63 million, a decrease from HKD 166 million in the same period of 2022, primarily due to increased losses in the cabin business and reduced unrealized exchange gains from Xiamen Swire[147]. Debt and Financial Position - The net debt increased by 52% to HKD 66,915 million from HKD 43,911 million year-on-year[8]. - The net debt to equity ratio (excluding lease liabilities) rose to 21.4%, an increase of 7.7 percentage points from 13.7% in the previous year[8]. - The group's net debt-to-equity ratio as of June 30, 2023, was 21.4%, with available liquid funds amounting to HKD 35.9 billion[23]. - The anticipated sale of the US bottling business is expected to reduce the net debt-to-equity ratio to 14.9%, strengthening the balance sheet further[23]. - The total borrowings and bonds as of June 30, 2023, amounted to HKD 80,355 million, an increase from HKD 68,373 million at the end of December 2022[189]. - The total amount of borrowings and lease liabilities due within one year was HKD 9.75 billion, representing 11% of total borrowings[195]. - The group maintained undrawn committed funding totaling HKD 8.74 billion as of June 30, 2023[190]. Investments and Strategic Focus - The company announced the sale of 100% equity in Swire Coca-Cola USA for approximately HKD 30.4 billion, which is expected to enhance the balance sheet and provide immediate substantial returns to shareholders[11]. - The company continues to focus on long-term growth in the Greater China and Southeast Asia regions, with ongoing investments in real estate, beverages, and aviation sectors[3]. - The company is actively seeking investment opportunities in healthcare services and major cities in mainland China and Southeast Asia[21]. - The company is focusing on long-term investments in the Greater Bay Area, including projects in Guangzhou and Shenzhen, as part of its strategic expansion[12]. - The investment plan of HKD 100 billion announced in March 2022 aims to invest in property development projects in Hong Kong and mainland China over the next decade[48]. - As of August 4, 2023, the company has committed approximately HKD 390 billion of the planned investment amount, with HKD 170 billion allocated to mainland China and HKD 110 billion each to Hong Kong and residential sales projects[48]. Real Estate and Property Performance - The real estate segment reported a recurring basic profit of HKD 31.88 billion, a 6% increase from HKD 29.94 billion in the first half of 2022, driven by a strong recovery in retail and hotel businesses in Hong Kong[16]. - The attributable basic profit from the property sector for the first half of 2023 was HKD 18,220 million, down from HKD 35,630 million in the same period of 2022[45]. - The performance of retail properties in Hong Kong and mainland China improved significantly, driven by the lifting of travel restrictions and pandemic measures[46]. - The hotel business in Hong Kong and mainland China saw a substantial recovery following the easing of pandemic measures, with strong performance reported in the United States[47]. - The rental income from office properties was HKD 2.96 billion, while retail properties generated HKD 3.51 billion in the first half of 2023[34]. - The rental income from the Hong Kong retail portfolio for the first half of 2023 was HKD 1.23 billion, an increase of 17% year-on-year, indicating a recovery post-pandemic[56]. - The company plans to double the total floor area of retail-led developments in first-tier and emerging first-tier cities in mainland China[48]. Beverage Segment Performance - Swire Coca-Cola's recurring profit increased by 41% to HKD 16.27 billion, with total revenue rising 14% to HKD 30.44 billion and sales volume increasing by 18% to 1.055 billion standard cases[17]. - For the six months ended June 30, 2023, Swire's revenue was HKD 30,446 million, a 15.5% increase from HKD 26,331 million in the same period of 2022[92]. - The profit from the beverage segment was HKD 1,627 million for the six months ended June 30, 2023, compared to HKD 1,152 million in the same period of 2022[185]. - Swire Coca-Cola recorded a profit attributable to shareholders of HKD 1.423 billion for the first half of 2023, including a non-recurring loss of HKD 239 million from an investment impairment related to a plastic recycling joint venture[103]. Airline Performance - Cathay Pacific recorded a profit of HKD 42.68 billion for the first half of 2023, a significant improvement from a loss of HKD 49.99 billion in the same period of 2022, driven by strong market demand following the lifting of quarantine requirements[18]. - Passenger revenue reached HKD 25.013 billion, up 1,109.5% from HKD 2.068 billion in the first half of 2022[124]. - The total number of passengers carried was 7.816 million, a 2,233.1% increase from 335,000 in the same period last year[124]. - Cathay Pacific's passenger capacity is projected to reach 70% of pre-pandemic levels by the end of 2023, serving 80 destinations, and aims for 100% by the end of 2024[137]. - The passenger load factor improved to 87.2%, up 28 percentage points from 59.2% in the first half of 2022[124]. Operational Highlights - The cash generated from operations was HKD 7,206 million, a 17% increase from HKD 6,147 million year-on-year[8]. - The company completed a share buyback program with a total cash consideration of HKD 700 million, repurchasing 8,998,500 'A' shares and 15,107,500 'B' shares[22]. - The company has initiated the presale of the residential development project "Hae Ying Shan" located in Wong Chuk Hang, Hong Kong[54]. - The company has obtained full ownership of two industrial sites in Quarry Bay, with plans to redevelop them into office and commercial spaces, totaling approximately 779,000 square feet[60]. - The company expects stable demand for base maintenance services in the second half of 2023, with a rebound in line maintenance services as air traffic recovers[159].

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