泛海集团（00129.HK）：截至5月31日，公司及子公司未能按期偿还债务合计328.13亿元，其中境内债 券47.37亿元，其他有息债务280.76亿元。 ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HK$1,583 million, representing a 76% increase compared to HK$901 million in 2023[77]. - The group recorded a 76% increase in revenue to HK$1,583 million for the first half of the fiscal year, primarily due to the sale of the "Landmark on Robson" property in Canada[116]. - The company reported a total of HKD 10,618,156 in financial assets measured at fair value as of September 30, 2024[181]. - The company reported a dividend income of HKD 9,760 million for the six months ending September 30, 2024[44]. - The company reported a basic loss per share of HK$0.29, down from HK$0.69, reflecting a 58% reduction in losses[77]. - Loss attributable to shareholders decreased to HK$386 million, a 58% improvement from a loss of HK$916 million in the previous year[77]. - The company reported a net loss of HK$335,345 for the period, an improvement from a net loss of HK$979,938 in the same period last year[164]. - Total comprehensive expenses for the period amounted to HK$383,961,000, down from HK$2,604,258,000 in the previous year[143]. Assets and Liabilities - The company's non-current assets were valued at HKD 14,946,009,000, while current assets totaled HKD 20,488,522,000[37]. - Total assets as of September 30, 2024, decreased by 2% to HK$33,347 million compared to HK$34,145 million on March 31, 2024[114]. - Total liabilities as of September 30, 2024, amounted to HK$15,868 million, down 4% from HK$16,556 million[114]. - The debt-to-equity ratio was approximately 63% as of September 30, 2024, compared to 65% on March 31, 2024[133]. - The net asset value as of September 30, 2024, was HK$14,300,421,000, a decrease from HK$14,684,382,000 as of March 31, 2024[146]. - The estimated tax provision for the period was calculated at a rate of 16.5%, consistent with the previous year[11]. Financial Investments - The total value of financial investments as of September 30, 2024, was HKD 13,179,349,000, with a fair value of HKD 2,617,533,000[26]. - The company holds financial investments of approximately HK$3,094,000,000, with 81% in listed debt securities, primarily issued by Chinese real estate companies[157]. - The company held five major debt securities with a total value of HKD 1,058,375,000 as of September 30, 2024[28]. - The group held 39 debt securities as of September 30, 2024, with a fair value representing approximately 2.8% of the group's revalued total assets[47]. - The fair value of financial assets measured at fair value through other comprehensive income is HKD 1,051,217,000, with a 36% increase in fair value under different probability scenarios[4]. Credit Losses and Risks - The expected credit loss for the same period was HKD 119,457,000, with significant contributions from various notes issued by property companies[7]. - The expected credit loss recognized in the profit and loss account for the period was HKD 158,918, with significant changes in credit quality[181]. - The company is exposed to various financial risks, including market risk, credit risk, and liquidity risk, with a focus on minimizing potential adverse impacts on financial performance[192]. Operational Highlights - Approximately 85% of residential units in the "Beijing Dongwan" project have been sold, generating a total contract sales amount of about RMB 5.3 billion[97]. - The average hotel occupancy rate increased to 88% from 84% in the previous year, although revenue from hotel operations decreased to HK$158 million from HK$174 million[127]. - The hotel business is steadily recovering with expectations to return to pre-pandemic levels due to increased visitor numbers in Hong Kong[139]. - The company has initiated a privatization plan for its hotel subsidiary, which became effective in October 2024, aimed at streamlining operations and reducing administrative costs[104]. Cash Flow and Financing - Cash generated from operating activities was HKD 705,497, compared to a cash outflow of HKD 544,464 in the same period last year[170]. - The company’s cash and cash equivalents at the end of the period were HKD 533,993, down from HKD 838,702 at the end of the previous period[170]. - The company benefits from low interest costs due to previous interest rate hedging efforts, alleviating financing cost burdens[162]. - The company has a total of HKD 1,273,731,000 in financial assets measured at amortized cost and related interest receivables as of March 31, 2024[197]. Shareholder Information - The company has a total of 1,319,782,288 issued and fully paid shares as of September 30, 2024[53]. - The company announced a restructuring plan involving the exchange of every 20 shares of Pan Hai Hotel for 3 new shares of the company and a cash payment of HKD 0.70[58].

Financial Performance - Total revenue for the six months ended September 30, 2024, was HKD 1,582.9 million, a 76% increase from HKD 900.8 million in the same period of 2023[4] - The company reported a loss attributable to shareholders of HKD 386.1 million, a 58% improvement compared to a loss of HKD 915.8 million in the prior year[4] - Basic loss per share improved to HKD (0.29) from HKD (0.69), reflecting a 58% reduction in losses[4] - The company’s gross profit for the period was HKD 911.6 million, compared to HKD 824.3 million in the previous year, indicating a positive trend in profitability[4] - The company reported a significant increase in overseas revenue, which reached HKD 1,299,463,000, compared to HKD 644,974,000 in the previous year, marking an increase of approximately 100.8%[27] - The company reported a 76% increase in revenue to HKD 1,583,000,000 for the first half of the fiscal year, compared to HKD 901,000,000 in the same period last year, primarily due to the recognition of property sales from "Landmark on Robson" in Canada[49] - Loss attributable to shareholders decreased by 58% to HKD 386,000,000, down from HKD 916,000,000 in the previous year, mainly due to reduced expected credit loss provisions on debt securities and profits from property sales[49] Assets and Liabilities - Total assets decreased by 2% to HKD 33,347 million from HKD 34,145 million[3] - The company's total assets as of September 30, 2024, were HKD 33,346,930,000, compared to HKD 34,144,653,000 as of March 31, 2024[22] - The total liabilities stood at HKD 19,046,509,000, with borrowings accounting for HKD 17,065,286,000[22] - Non-current assets were valued at HKD 21,841,810,000, a slight decrease from HKD 22,033,375,000 as of March 31, 2024[28] - The asset-liability ratio, calculated as net debt to revalued net assets, improved to 63% from 65%[3] - The group's debt ratio was approximately 63% as of September 30, 2024, down from 65% as of March 31, 2024[64] Investment Performance - The net loss from investments amounted to HKD 336,429,000, compared to a loss of HKD 1,580,015,000 in the previous period, indicating an improvement in investment performance[31] - Investment property fair value loss was HKD 239.3 million, compared to a gain of HKD 176.9 million in the previous year[4] - Interest income from listed investments recorded HKD 66,715,000, an increase from HKD 51,808,000 in the previous year, while interest income from unlisted investments rose to HKD 30,061,000 from HKD 53,942,000[35] Revenue Sources - Revenue from property sales was HKD 1,005,840,000, while property leasing generated HKD 59,102,000, and hotel operations contributed HKD 158,305,000[19] - The contribution from property sales to overall performance was HKD 390,417,000, while the contribution from hotel operations was HKD 66,083,000[19] - Rental income for the period was HKD 59 million, down from HKD 67 million in the previous year, with a net loss of HKD 266 million recorded from property revaluation[58] - The hotel segment recorded revenue of HKD 158 million, contributing HKD 66 million in profit, with an average occupancy rate of 88%[60] Operational Highlights - The company continues to sell five development projects located in Hong Kong, Beijing, and Vancouver, achieving a contract sales amount of approximately HKD 906,000,000 from April to October 2024, compared to HKD 810,000,000 in the same period last year[50] - The residential development project "汇都" in Hong Kong has achieved a contract sales amount of approximately HKD 2 billion as of October 31, 2024, with received payments of about HKD 1.1 billion[51] - The "宝峰" project in Hong Kong has recorded a cumulative contract sales total of approximately HKD 470 million, with 16 units sold[51] - In Beijing's Tongzhou, the "北京•东湾" project has sold about 85% of its residential units, totaling a contract sales amount of approximately RMB 5.3 billion[54] - The Vancouver "Landmark on Robson" redevelopment project has achieved contract residential sales of approximately CAD 240 million, with about 70% recognized in the interim profit and loss account[56] Cost and Expenses - The company incurred a depreciation expense of HKD 66,325,000 during the reporting period[19] - The net financing costs for the period were HKD 313,535,000, contributing to a pre-tax loss of HKD 298,107,000[19] - The net financing costs amounted to HKD (313,535,000) for the first half of 2024, compared to HKD (266,021,000) in the same period last year[37] - The company reported a current tax expense of HKD (49,596,000) for the first half of 2024, compared to a tax credit of HKD 1,068,000 in the previous year[38] - Deferred tax credit for the first half of 2024 was HKD 12,358,000, compared to HKD 25,952,000 in the same period last year[38] Employee and Dividend Information - The group employed approximately 240 employees as of September 30, 2024, maintaining the same number as of March 31, 2024[67] - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[39] - The group does not recommend an interim dividend for the six months ending September 30, 2024, consistent with the previous year[70] Market Conditions - The sales transactions in Hong Kong have significantly rebounded due to the government's full withdrawal of property market restrictions and recent interest rate cuts[68] - The group benefits from low interest costs due to previous interest rate hedging efforts, alleviating financing cost burdens[68] - The hotel business is steadily recovering with expectations to return to pre-pandemic levels, supported by increased visitor numbers and government promotional activities[68] Securities Transactions - There were no repurchases or sales of the company's listed securities during the period[71]

Financial Performance - The company reported property sales of approximately HKD 25 billion, with 75% of units sold in the "Royal Peak" project as of March 31, 2024[3]. - The net loss attributable to shareholders was HKD 5.792 billion, compared to a profit of HKD 801 million in the previous year[22]. - Revenue for the year was HKD 1,735,341, a decrease from HKD 2,072,777 in the previous year, reflecting a decline in property sales and rental income[36]. - The total comprehensive loss for the year was HKD 5,289,329, compared to a comprehensive income of HKD 3,563,602 in the previous year[44]. - The group recorded revenue of HKD 1,735 million for the fiscal year, down from HKD 2,073 million in the previous year, resulting in a loss attributable to shareholders of HKD 5,792 million compared to a profit of HKD 801 million in the prior year[101]. Assets and Liabilities - Total assets amounted to HKD 34.145 billion, a decrease of 10% from HKD 37.899 billion in 2023[22]. - The company’s revalued total assets stood at HKD 44.935 billion, down 6% from HKD 47.881 billion in 2023[22]. - Total non-current assets decreased from HKD 24,603,769 to HKD 23,392,884, with investment properties slightly increasing to HKD 10,901,144[30]. - The company’s total liabilities increased from HKD 5,018,348 to HKD 7,228,229, indicating a rise in trade and other payables[31]. - The company’s equity attributable to shareholders decreased from HKD 19,438,536 thousand in 2023 to HKD 14,451,428 thousand in 2024, a drop of approximately 25.6%[48]. Debt and Financing - The company’s net debt increased by 7% to HKD 16.556 billion from HKD 15.533 billion in the previous year[22]. - The net debt amounted to HKD 16.6 billion, an increase from HKD 15.5 billion in the previous year, with a debt ratio of approximately 65% as of March 31, 2024, compared to 52% in 2023[101]. - Approximately 44% of the company's debt, totaling about HKD 7.71 billion, was hedged against fluctuations in the Hong Kong Interbank Offered Rate[20]. - The net financing costs increased to HKD 595,993 from HKD 410,088, indicating higher borrowing costs[43]. Investment and Sales - The company experienced a significant increase in property contract sales from subsidiaries, rising by 769% to HKD 1.451 billion[22]. - The company achieved contract sales of approximately HKD 1.8 billion from five development projects across Hong Kong, Beijing, and Vancouver, a significant increase from HKD 600 million in the previous year[85]. - The residential portion of the "Beijing Dongwan" project, which covers 2,360,000 square feet, has sold approximately 83% of its units, generating a total contract sales amount of about RMB 5.2 billion[88]. - The company reported a significant investment loss of HKD 6,101,594, compared to a loss of HKD 1,516,065 in the previous year[36]. Operational Aspects - The company employed around 240 staff members, maintaining the same number as in 2023[9]. - The company anticipates further recovery in the tourism sector with the completion of the third runway at the airport by the end of 2024[10]. - The company is actively negotiating with local city planning departments regarding two joint residential development projects located on Alberni Street in downtown Vancouver[89]. - The company plans to adopt new accounting standards, which are not expected to have a significant impact on future reporting periods[34]. Cash Flow and Dividends - The company did not declare a final dividend for the year ending March 31, 2024, consistent with the previous year[60]. - The group has over HKD 4.3 billion in cash and undrawn bank financing as of March 31, 2024, compared to HKD 7.5 billion in the previous year[101]. - The company’s cash flow hedge showed a fair value loss of HKD 11,530, contrasting with a gain of HKD 17,984 in the previous year[43]. Market Conditions - The company’s trade receivables increased to HKD 76,900,000 from HKD 67,026,000 in the previous year, indicating a rise in credit risk management[80]. - The management maintains a prudent financial approach to mitigate any negative impacts in the current uncertain economic environment[111].

Financial Performance - The company reported a revenue of HKD 901 million for the six months ended September 30, 2023, a decrease of 17% compared to HKD 1,083 million in the same period of 2022[7]. - The loss attributable to shareholders was HKD 916 million, compared to a profit of HKD 39 million in the previous year, primarily due to reduced investment income and increased provisions for expected credit losses[10]. - The company reported a net loss for the period of HKD 979,938,000, compared to a profit of HKD 23,252,000 in the same period of 2022, reflecting a significant decline in financial performance[37]. - The company reported a total loss before tax of HKD 1,006,958,000 for the six months ended September 30, 2023[78]. - Total comprehensive expenses for the period amounted to HKD 2,604,258,000, an increase from HKD 1,620,958,000 year-on-year[39]. Assets and Liabilities - Total assets decreased by 5% to HKD 36,157 million from HKD 37,899 million as of March 31, 2023[7]. - The total asset value as of September 30, 2023, was approximately HKD 36.2 billion, down from HKD 37.9 billion as of March 31, 2023[26]. - The company's total liabilities as of September 30, 2023, were HKD 18,787,324, an increase from HKD 17,925,017 as of March 31, 2023[79]. - The company's equity attributable to shareholders decreased to HKD 17,015,801,000 from HKD 19,438,536,000[44]. - Current liabilities rose to HKD 6,896,752,000, up from HKD 5,018,348,000, primarily due to increased borrowings[44]. Debt and Financing - Net debt increased by 4% to HKD 16,199 million from HKD 15,533 million[7]. - The company's debt ratio increased to approximately 58% as of September 30, 2023, compared to 52% as of March 31, 2023[26]. - The company has a debt repayment distribution where 23% of debts are due within one to two years, and 45% are due within two to five years[28]. - The company successfully refinanced HKD 2,480,000,000 of loans due within one year into new five-year term loans[27]. - The current portion of long-term bank loans due within one year increased to HKD 5,603,331,000 as of September 30, 2023, compared to HKD 3,871,662,000 as of March 31, 2023[119]. Investment and Development Projects - The company has five development projects on the market, with a total floor area of approximately 1,900,000 square feet, generating a contract sales amount of about HKD 830 million during the period[10]. - The company is currently in the planning and land exchange stage for development projects with an additional floor area of approximately 1,400,000 square feet in Hong Kong and Vancouver[10]. - The residential development project "汇都" achieved a contract sales amount of HKD 4.1 billion as of September 30, 2023, with five residential buildings completed and undergoing renovation, expected to be finished by mid-2024[16]. - The "皇第" project, in which the company holds a 20% stake, has sold 75% of its units, totaling approximately HKD 2.5 billion in cumulative sales as of September 30, 2023[16]. - The "Landmark on Robson" redevelopment project in Vancouver has a contract sales amount of approximately CAD 230 million as of September 30, 2023[19]. Financial Investments - Financial investments as of September 30, 2023, amounted to approximately HKD 5.396 billion, down from HKD 7.656 billion as of March 31, 2023, with 83% in listed debt securities[22]. - The company reported a net investment loss of HKD 1.58 billion for the period, primarily due to provisions for expected credit losses, while fair value losses were HKD 1.438 billion[22]. - The group reported a net fair value loss of HKD 2,439,406,000 during the six months ended September 30, 2023[66]. - The fair value of financial assets measured at fair value through profit or loss was HKD 1,452,914,000 as of September 30, 2023[66]. - The group’s financial assets measured at fair value through other comprehensive income amounted to HKD 842,197,000 as of September 30, 2023[59]. Operational Performance - Hotel revenue increased by 140% to HKD 174 million, with occupancy rates rising to approximately 80% compared to 50% in the previous year[23]. - Rental income for the period was HKD 67 million, a decrease from HKD 79 million in the previous year, while revaluation gains recorded HKD 164 million, up from HKD 69 million[20]. - The company’s operational segments include property sales, leasing, hotel operations, and financial investments, with a focus on maximizing returns across these areas[76]. - The company reported a significant increase in financial investments, with a total of HKD 3,886,836,000 compared to HKD 6,039,865,000 in the previous period[41]. - The company recognized revenue from customer contracts of HKD 249,132 for the six months ended September 30, 2023, compared to HKD 176,046 in the previous year, representing an increase of 41.5%[82]. Employee and Governance - The company employed approximately 230 staff as of September 30, 2023, down from 240 as of March 31, 2023, indicating a slight reduction in workforce[33]. - The company did not recommend an interim dividend for the six months ended September 30, 2023, consistent with the previous year[95]. - The audit committee reviewed the unaudited interim results for the six months ended September 30, 2023[152]. - The company has adopted and complied with the corporate governance code principles during the period[151]. - The company has fully complied with the standard code of conduct for securities transactions during the period[150].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 ASIA STANDARD INTERNATIONAL GROUP LIMITED 泛海國際集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：129） 截至二零二三年九月三十日止六個月 中期業績公佈 財務摘要 （除另有註明外，金額以百萬港元列示） 截至九月三十日止六個月 二零二三年 二零二二年 變動 收入 901 1,083 -17% 本公司股東應佔（虧損）╱溢利 (916) 39 不適用 每股（虧損）╱盈利－基本（港元） (0.69) 0.03 不適用 二零二三年 二零二三年 九月三十日 三月三十一日 資產總值 36,157 37,899 -5% ...

Financial Performance - The company reported a profit attributable to shareholders of HKD 801 million for the fiscal year, compared to a loss of HKD 884 million in the previous year, marking a significant turnaround [11]. - Revenue decreased by 17% to HKD 2,073 million from HKD 2,510 million year-on-year [7]. - The group recorded revenue of HKD 2,073,000,000 for the fiscal year, a decrease from HKD 2,510,000,000 in the previous year, while turning a profit of HKD 801,000,000 compared to a loss of HKD 884,000,000 in the prior year [20]. - Gross profit for the same period was HKD 1,967 million, down from HKD 2,427 million, reflecting a decline of 18.9% [63]. - The operating profit turned positive at HKD 819 million, compared to an operating loss of HKD 801 million in the previous year [63]. - The income from the investment portfolio for the year was HKD 1,716,000,000, down from HKD 2,209,000,000 in 2022, while net investment losses were HKD 1,516,000,000 compared to HKD 3,405,000,000 in the previous year [34]. Asset and Debt Management - Total assets increased by 8% to HKD 37,899 million, while net assets rose by 22% to HKD 19,974 million [7]. - The group’s total assets as of March 31, 2023, were approximately HKD 37,900,000,000, up from HKD 35,000,000,000 in 2022, with a net asset value of HKD 20,000,000,000 compared to HKD 16,400,000,000 in 2022 [37]. - The debt-to-equity ratio improved significantly, with net debt decreasing by 4% to HKD 15,533 million, and the debt-to-revalued asset ratio dropping from 64% to 52% [7]. - The net debt amounted to HKD 15,500,000,000, a decrease from HKD 16,200,000,000 in 2022, with a net debt to revalued net asset ratio of approximately 52% compared to 64% in the previous year [38]. - As of March 31, 2023, 70% of the debt was secured, with a net book value of HKD 22,900,000,000 in property assets pledged to banks [46]. Development Projects - The company achieved a cumulative contract sales amount of RMB 4.8 billion for a residential development project in Tongzhou, Beijing, with approximately 95% of pre-sale units delivered during the fiscal year [11]. - The company plans to launch two new development projects in the second half of 2023, including a large residential project in Hung Shui Kiu and a high-end residential project in Mid-Levels [11]. - The group is developing a residential project in Yuen Long with 1,025 units, which has recently received pre-sale approval and is expected to launch soon [28]. - The group is progressing with the redevelopment of the Empire Landmark Hotel in Vancouver, with a total floor area of 400,000 square feet, expected to be completed in the first half of 2024 [29]. - The company has increased the plot ratio for its joint residential development project in Kwu Tung by 20% to better utilize land resources [11]. Hotel and Tourism Business - The hotel business showed continuous improvement as travel restrictions were lifted, contributing positively to the overall performance [11]. - Hotel and tourism revenue increased by 120% to HKD 167,000,000, compared to HKD 76,000,000 in the previous year, indicating recovery from the pandemic [33]. - The group owns and operates five "Royal View" brand hotels located in prime areas of Hong Kong, targeting business travelers and visitors from mainland China [17]. - The group anticipates a recovery in the hotel and tourism business due to increased visitor numbers, although the extent is limited by local airlines' operational challenges [48]. Environmental, Social, and Governance (ESG) Initiatives - The group aims to integrate ESG principles into its operations and management to contribute to a more sustainable future [67]. - The group has identified key ESG issues through stakeholder engagement, focusing on reducing greenhouse gas emissions and waste management [77]. - The group reported a reduction in Scope 1 greenhouse gas emissions from 285 tons to 123 tons, a decrease of approximately 57.4% [81]. - The total energy consumption increased from 18,287,000 kWh to 19,668,000 kWh, reflecting a rise of about 7.6% [86]. - Water consumption decreased from 121,908 cubic meters to 109,761 cubic meters, a reduction of approximately 10% [86]. - The company is committed to achieving carbon neutrality by 2050 as part of its response to climate change [92]. - The company has implemented various environmental measures in property development to comply with local regulations and achieve green building certification [88]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, with the chairman and CEO being different individuals [126]. - The board held four meetings during the year, with attendance rates of 100% for most directors [131]. - The company emphasizes transparency, accountability, and fairness in its corporate governance standards [125]. - The board has reviewed its corporate governance policies and practices during the year [127]. - The company has complied with the corporate governance code, except for one instance where an independent non-executive director was unable to attend the annual general meeting [144]. Employee Management - The company employed approximately 240 staff as of March 31, 2023, down from 260 in 2022, with a compensation package aligned with job nature and experience levels [47]. - Employee turnover rate increased significantly to 77% in 2023 from 34% in 2022, with a total of 190 employees leaving the company [105]. - The average training hours per employee increased for females to 35-45 hours in 2023, while males remained at 30-40 hours [107]. - The total number of employees decreased from 256 to 241, a reduction of approximately 5.9% year-over-year [103]. - The company has provided extensive training programs for employees, including health and safety, food safety, and COVID-19 prevention measures [97].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 ASIA STANDARD INTERNATIONAL GROUP LIMITED 泛海國際集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：129） 截至二零二三年三月三十一日止年度 業績公佈 及建議修訂現有公司細則 財務摘要 （除另有註明外，金額以百萬港元列示） 二零二三年 二零二二年 變動 收入 2,073 2,510 -17% 本公司股東應佔溢利╱（虧損） 801 (884) 不適用 每股盈利╱（虧損）－基本（港元） 0.61 (0.67) 不適用 資產總值 37,899 35,022 +8% ...

Financial Performance - The company reported revenue of HKD 1,083 million for the six months ended September 30, 2022, a decrease of 15% compared to HKD 1,278 million in the same period last year[20]. - Profit attributable to shareholders was HKD 39 million, down 73% from HKD 147 million in the previous year[20]. - Basic earnings per share decreased to HKD 0.03, a 73% decline from HKD 0.11 in the prior year[20]. - Total revenue for the six months ended September 30, 2022, was HKD 1,083,353,000, a decrease of 15.2% from HKD 1,277,931 in 2021[52]. - The net profit for the period was HKD 23,252, down 80.8% from HKD 121,279 in 2021[54]. - The company reported a net loss of HKD (1,514,948,000) for the period, compared to a net loss of HKD (1,620,958,000) in the previous year, indicating an improvement in financial performance[69]. - The company reported a total comprehensive expense of HKD (4,576,461,000) for the period, compared to HKD (4,959,510,000) in the previous year, showing a decrease in overall expenses[65]. Assets and Liabilities - Total assets amounted to HKD 33,842 million, reflecting a 3% decrease from HKD 35,022 million[20]. - The group's total assets were approximately HKD 33.8 billion as of September 30, 2022, compared to HKD 35 billion on March 31, 2022[35]. - The group's net asset value decreased by 10% to HKD 14,789 million from HKD 16,410 million[20]. - The company's net assets decreased to HKD 14,789,151 from HKD 16,410,109 at the end of March 2022[59]. - The company's total liabilities increased to HKD 30,692,753,000 as of September 30, 2022, from HKD 29,626,172,000 as of March 31, 2022, indicating a growth of 3.6%[177]. - The company's total borrowings as of September 30, 2022, were HKD 17,741,315,000, slightly up from HKD 17,311,375,000 as of March 31, 2022[177]. Cash Flow and Financing - The net cash used in operating activities was HKD (217,339,000), a significant improvement from HKD (1,058,758,000) in the previous year[62]. - The net cash generated from financing activities was HKD 466,599,000, compared to HKD 912,902,000 in the prior year, reflecting a decrease in financing inflows[62]. - The company's interest paid decreased slightly to HKD (251,714,000) from HKD (256,980,000) in the previous year, indicating stable interest expenses[62]. - The net interest expense for the six months ended September 30, 2022, was HKD 160,677,000, an increase from HKD 149,086,000 in the previous year, reflecting higher long-term bank loan interest expenses of HKD 205,577,000 compared to HKD 149,171,000[139]. Investments and Financial Assets - The group's financial investments amounted to HKD 4,499 million as of September 30, 2022, down from HKD 6,811 million on March 31, 2022[33]. - The total financial investments at fair value as of September 30, 2022, were HKD 4,328,155,000, compared to HKD 5,760,392,000 as of March 31, 2022, representing a decrease of about 25%[100]. - The company reported a total credit loss of HKD 933,566,000 for the period[91]. - The company recognized expected credit losses for financial instruments based on three stages, with significant increases in credit risk leading to full expected credit loss recognition[84]. - The company’s total expected credit loss recognized in profit or loss for the period was HKD 615,590,000[92]. Real Estate and Development - The company has sold approximately 75% of residential units in its Beijing project, with total sales reaching RMB 4.7 billion[23]. - The company is progressing with the construction of two commercial buildings, with foundation work currently underway[23]. - The project located in Yuen Long has a floor area of 520,000 square feet, with foundation works completed and superstructure construction underway[28]. - The company plans to launch sales for a new residential project in the first quarter of 2023[27]. Market Conditions and Management Outlook - The management anticipates challenges ahead due to inflationary pressures triggered by the Ukraine war and the subsequent interest rate hikes in the U.S. and Hong Kong[43]. - The hotel business is beginning to recover as inbound quarantine requirements are relaxed, with the government working to restore full border access[44]. - The group maintains a prudent financial approach to mitigate any negative impacts in the current uncertain economic environment[44]. Shareholder Information - The major shareholder, Pan Zheng, holds 684,865,276 shares, accounting for 51.89% of the issued shares[191]. - Pan Zheng's control over Huihan Holdings Limited (60.61%) influences the equity held in the company[191]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[142].

Financial Performance - The company reported a loss attributable to shareholders of HKD 884 million for the fiscal year, compared to a profit of HKD 1.353 billion in the previous year[10]. - Revenue increased by 2% to HKD 2.51 billion from HKD 2.459 billion year-on-year[6]. - The group recorded revenue of HKD 2,510,000,000 for the fiscal year, a slight increase from HKD 2,459,000,000 in the previous year, while the loss attributable to shareholders was HKD 884,000,000 compared to a profit of HKD 1,353,000,000 in the prior year[19]. - The company experienced an operating loss of HKD 801 million, a significant decline from an operating profit of HKD 1,912 million in the prior year[62]. - The net loss attributable to shareholders was HKD 884 million, compared to a profit of HKD 1,353 million in the previous year, reflecting a challenging financial environment[62]. - The company reported a revenue of HKD 2,510 million for the fiscal year ending March 31, 2022, representing an increase of 2.1% compared to HKD 2,459 million in the previous year[62]. Assets and Liabilities - Total assets decreased by 17% to HKD 35.022 billion, down from HKD 42.32 billion[6]. - The net asset value dropped by 27% to HKD 16.41 billion, compared to HKD 22.617 billion in the previous year[6]. - The group’s financial investments decreased to HKD 6.81 billion as of March 31, 2022, down from HKD 15.15 billion in the previous year, primarily due to market revaluation losses[35]. - Total assets decreased to HKD 35,022 million from HKD 42,320 million, while total liabilities slightly decreased to HKD 18,612 million[62]. - The asset-liability ratio increased to 64%, up from 49% in the previous year[6]. - The net debt ratio was approximately 64% as of March 31, 2022, compared to 49% in the previous year[40]. Development Projects - The company plans to launch two new development projects by the end of 2022, including a luxury residential project with 16 units overlooking Victoria Harbour[10]. - The contract sales amount for the residential development project in Tongzhou, Beijing, reached RMB 4.5 billion by the end of the fiscal year[10]. - Approximately 75% of residential units in the Beijing Tongzhou project have been sold, with a total contract sales amount reaching RMB 4.5 billion, and contract sales for the year amounted to RMB 1.5 billion[24]. - The group has increased its stake in the "Huangdi" high-end development project in Hong Kong to 50%, with sales amounting to HKD 400 million during the year and 70% of units sold as of May 2022[25]. - The redevelopment project "Landmark on Robson" is expected to be completed by the end of 2023, featuring two residential towers with 236 units and approximately 50,000 square feet of retail and office space[33]. - The company holds a 50% stake in the Beijing Dongwan project, with a total floor area of approximately 2,360,000 square feet, expected to be completed in 2022[60]. Financial Management - The group is focused on maintaining a strong financial position through prudent financial management policies to effectively manage risks and maintain a healthy balance sheet[16]. - The company maintains a prudent financial approach to mitigate any negative impacts in the current uncertain economic environment[49]. - The company secured a sustainable development performance-linked loan of HKD 1.4 billion in May 2022, aimed at reducing energy and water consumption across all hotels[67]. - The hotel subsidiary refinanced all unsecured loans maturing during the year with a sustainable development-linked syndicated loan of approximately HKD 1.4 billion[45]. Market Outlook - The company anticipates ongoing challenges due to the potential resurgence of COVID-19, prompting continued efforts to increase revenue and minimize costs[33]. - The local property market shows resilience, supported by encouraging sales of new properties and land sales in Central[48]. - The company anticipates stable growth in the mainland real estate sector due to ongoing urbanization and government support measures[48]. - The impact of rising interest rates on the property market is expected to be minimal, as mortgage rates remain low[48]. - Future outlook remains positive, with management expressing confidence in achieving long-term growth targets[180]. Environmental, Social, and Governance (ESG) - The company aims to integrate ESG principles into its operations, enhancing long-term sustainability and performance[66]. - The total greenhouse gas emissions for Scope 1 increased to 285 tons from 208 tons, while Scope 2 emissions rose to 12,291 tons from 10,556 tons, indicating a significant increase in energy consumption due to higher hotel occupancy rates[80]. - The total amount of non-hazardous waste generated decreased to 1,425 tons from 3,793 tons, with recyclable waste including construction materials increasing to 1,105 tons from 763 tons[80]. - The company has implemented various environmental measures in property development to comply with local environmental regulations and achieve green building certifications[87]. - The company has initiated a program to reduce linen changes in hotel rooms to minimize water usage, promoting sustainability among guests[88]. - The company has identified key ESG issues, including reducing greenhouse gas emissions and improving employee health and safety standards[76]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, ensuring a separation of roles between the chairman and the CEO[133]. - The board held four meetings during the year, with attendance rates of 100% for most directors[139]. - The company is committed to enhancing board diversity by considering factors such as gender, age, and industry experience in its recruitment processes[140]. - A nomination committee was established to review board composition and diversity, meeting at least once a year to assess its effectiveness[141]. - The company has reviewed its corporate governance policies and practices to ensure compliance with relevant laws and regulations[134]. - The company emphasizes transparency, accountability, and fairness in its corporate governance standards[132]. Employee and Community Engagement - The company employed approximately 260 employees as of March 31, 2022, an increase from 230 in 2021[46]. - The company is committed to providing a safe and healthy work environment, adhering to all relevant labor laws[102]. - The company encourages the use of electronic communication to reduce paper consumption and energy usage[90]. - The company donated a total of HKD 542,000 to various charitable organizations during the reporting year[129]. - The company actively engages in community investment, focusing on social issues and contributing to the well-being of the community[121].