卓能（集團）有限公司 （股份代號：131） 截至二零二四年十二月三十一日止 六個月中期業績報告 INTERIM REPORT 2024 中期業績報告 CHEUK NANG (HOLDINGS) LIMITED (Stock Code: 131) INTERIM REPORT FOR THE SIX MONTHS ENDED 31/12/2024 CHEUK NANG (HOLDINGS) LIMITED 卓能（集團）有限公司 卓 能（ 集 團 ）有 限 公 司 中期業績 截至二零二四年十二月三十一日止六個月 主席報告書 業績 本席宣佈本集團截至二零二四年十二月三十一日止六個月，經審核委員會審閱，載 於未經審核的簡明綜合損益表之未經審核綜合除稅後虧損為34,919,000港元，與二零 二三年比較：除稅後盈利為312,900,000港元。 董事會議決派發中期股息每股2.25港仙，與二零二三年中期股息比較：2.25港仙。 業務回顧 本集團項目之進度如下： 香港物業 香港房地產市場儘管去年有所改善，但仍面臨新房屋過剩和銷售低於預期的困境。 現有物業積壓情況尚未改善，已落成物業的處理仍需時日。 壹號九龍山頂，荃灣汀九寶 ...

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。 CHEUK NANG (HOLDINGS) LIMITED 卓 能（ 集 團 ）有限公司 （於香港註冊成立之有限公司） （股票代號：131） 中期業績 截至二零二四年十二月三十一日止六個月 主席報告書 業績 本席宣佈本集團截至二零二四年十二月三十一日止六個月，經審核委員會審閱， 載於未經審核的簡明綜合損益表之未經審核綜合除稅後虧損為34,919,000港元， 與二零二三年比較：除稅後盈利為312,900,000港元。 董事會議決派發中期股息每股2.25港仙，與二零二三年中期股息比較：2.25港仙。 業務回顧 本集團項目之進度如下： 香港物業 香港房地產市場儘管去年有所改善，但仍面臨新房屋過剩和銷售低於預期的困境。 現有物業積壓情況尚未改善，已落成物業的處理仍需時日。 壹號九龍山頂，荃灣汀九寶豐台8號 第一期餘下單位的招租工作仍在進行中，並取得滿意成績。 趙苑二期，薄扶林域多利道192號 租用率維持在60% ...

CHEUK NANG (HOLDINGS) LIMITED 卓 能（集 團）有限公司 Stock Code 股份代號：131 ANNUAL REPORT 2024 年報 目錄 Contents | --- | --- | --- | |------------------------|------------------------------------------------|-------| | | | | | 五年財務概要 | Five Years' Financial Summary | | | 股東週年大會通告 | Notice of Annual General Meeting | | | 主席報告書 | Chairman's Statement | 11 | | 董事及高層管理人員簡介 | Profiles of Directors and Senior Management | 20 | | 組織資料 | Corporate Information | 27 | | 管理層討論及分析 | Management Discussion and Analysis | 29 | | 企業管治報告 | ...

Financial Performance - The group recorded a consolidated profit of HKD 171,004,000 for the year ending June 30, 2024, compared to HKD 53,040,000 in 2023, representing a significant increase [2]. - For the fiscal year ending June 30, 2024, the group reported total revenue of HKD 188,042,000, a significant increase from HKD 45,156,000 in the previous year, representing a growth of 317% [21]. - Gross profit for the same period was HKD 106,796,000, compared to HKD 27,752,000 in the previous year, indicating a growth of 284% [21]. - The net profit attributable to the company's shareholders for the year was HKD 171,678,000, a substantial increase from HKD 21,202,000 in the previous year, reflecting an increase of 709% [21]. - Basic and diluted earnings per share for the year were both HKD 0.26, compared to HKD 0.03 in the previous year, marking an increase of 767% [21]. - The company reported a profit attributable to equity holders of HKD 171,678,000, compared to HKD 21,202,000 in 2023, resulting in a basic and diluted earnings per share of HKD 0.26 [58][63]. - The group reported total revenue of HKD 188,042,000 for the year ending June 30, 2024, a significant increase from HKD 45,156,000 in the previous year [42]. - Property sales contributed HKD 155,629,000 to the total revenue, with no sales recorded in the previous year [42]. - Rental income decreased to HKD 31,794,000 from HKD 40,997,000 year-over-year, reflecting a decline of approximately 22.5% [42]. Dividends - The proposed final dividend is HKD 0.04 per share, up from HKD 0.03 per share in 2023, leading to a total dividend of HKD 0.0625 per share for the year, an increase of 32% compared to HKD 0.0475 in 2023 [2]. - Proposed final dividend is HKD 0.04 per share, up from HKD 0.03 per share in 2023, totaling HKD 0.0625 per share for the year [63]. - Total equity attributable to equity holders increased to approximately HKD 6,684,368,000 as of June 30, 2024, from HKD 6,573,558,000 in 2023, representing a 1.7% increase [64]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 7,598,266,000, down from HKD 8,339,340,000 in the previous year, a decrease of 9% [22]. - The company's net asset value increased to HKD 6,892,596,000 from HKD 6,782,460,000, representing a growth of 1.6% [23]. - The group’s total liabilities were reported at HKD 405,546,000, with property leasing liabilities at HKD 262,555,000 [45]. - The total bank and other borrowings increased to HKD 1,343,125,000 as of June 30, 2024, compared to HKD 1,036,449,000 in the previous year, resulting in a debt-to-equity ratio of 20.1% [67]. - The net debt decreased to HKD 461,333,000 as of June 30, 2024, from HKD 712,924,000 in the previous year, indicating improved cash management [67]. Investments - As of June 30, 2024, total investments in bonds amounted to HKD 49,876,000, with no purchases or sales during the year [17]. - The market value of investments in Hong Kong securities was HKD 54,263,000, with no purchases or sales during the year [17]. - The total assets in investment funds reached HKD 2,953,000, with purchases totaling HKD 3,000,000 during the year [17]. - The fair value of investment properties and land and buildings as of June 30, 2024, is HKD 5,365,067,000 and HKD 186,254,000 respectively, compared to HKD 6,870,006,000 and HKD 38,866,000 as of June 30, 2023 [37]. - The fair value of investment properties resulted in a deferred tax liability of HKD 704,926,000 as of June 30, 2024, down from HKD 926,091,000 in the previous year [41]. - The group recognized a deferred tax asset related to tax losses amounting to HKD 42,678,000, slightly down from HKD 45,349,000 in the previous year [41]. Operational Performance - The rental rate for the second phase of Zhao Garden remains at 60%, while the occupancy rate for Zhao Garden Phase III is at 61% [4][5]. - The first phase of the Parkview project in Kuala Lumpur consists of 417 residential units, with a current occupancy rate of 60% for the serviced apartments [15]. - The group is currently upgrading the serviced apartments to improve occupancy rates and has launched a new website for easier booking [15]. - The occupancy rate for the serviced apartments in Malaysia is currently at 60%, with property upgrades underway to improve this rate [80]. - The first phase of the Parkview project in Kuala Lumpur is being promoted through a new website to facilitate bookings [80]. - The main podium of the second phase, Cecil Central Residence, has been completed up to the fifth floor [80]. Market Conditions - The Chinese government has introduced measures to boost the real estate market, including lowering the minimum down payment ratio and allowing families with multiple children to purchase additional housing [8]. - The outlook for the second quarter of 2024 indicates continued moderate growth in the Hong Kong economy, supported by government measures to boost market sentiment and improve employment income [18]. - The company is facing uncertainties due to geopolitical tensions and global economic outlook, despite expecting moderate growth in Hong Kong's economy in the second quarter of 2024 [80]. Compliance and Governance - The audit committee reviewed the performance for the year ending June 30, 2024, and the consolidated accounts received an unmodified opinion from the auditors [86][89]. - The company is in compliance with corporate governance codes, except for the ongoing search for a suitable candidate for the president position [85]. - The company has submitted financial statements for the year ending June 30, 2023, to the Hong Kong Companies Registry and will submit the statements for the year ending June 30, 2024, in due course [88]. Employee and Administrative Costs - Employee costs, including director remuneration, decreased to HKD 24,284 in 2024 from HKD 25,161 in 2023 [53]. - The company had 47 employees as of June 30, 2024, down from 54 employees the previous year, with no stock option plan adopted during the year [72]. - Administrative expenses decreased by 18.8% to HKD 56,570,000, while financial costs increased by 197.3% to HKD 53,831,000 [63]. Other Income and Expenses - Other income increased by 38.8% to HKD 22,132,000, mainly from dividend and interest income [63]. - Interest expenses for bank loans and overdrafts increased to HKD 38,577 in 2024 from HKD 26,845 in 2023 [52]. - Interest expenses for the year were HKD 53,831,000, a significant increase of 197.3% from HKD 18,105,000 in the previous year, primarily due to rising bank loan rates [69].

3. 分部資料 根據本集團提交予執行董事之內部財務報告，即主要負責資源分配、評估營運分 部表現及作出策略性決定的營運決策人，執行董事認為業務主要來自行業。 簡明綜合賬項附註（續） 截至二零二三年十二月三十一日止六個月 按行業來說，本集團組織分為以下主要業務分部： 主要營運決策人按期間內之除稅前虧損來評估各營運分部表現。 截至二零二三年十二月三十一日止六個月（未經審核） 簡明綜合賬項附註（續） 3. 分部資料（續） 整個項目（包括第一期和第二期）的滿意紙已於二零二四年一月頒發。我們的律師已 向所有購買者發出完成購買的通知書。 1 卓能山莊，山頂施勳道30號 第一期超過40%的別墅已租出。第二期建築工程及整個場地優化改善工作的建設即 將完成。 深圳龍華 杭州餘杭區 澳門物業 本公司已透過澳門當地律師已於二零二一年四月提出土地續約的申請，土地管理廳 已於二零二四年一月批准本公司的申請，惟需符合若干條件，我們正在與律師及顧問 團隊研究與政府商討以實現我們的最佳利益。土地管理廳已制作建議書建議局長向 行政長官提請更改本公司土地的用途並同時就批給合同作修改連同批給續期十年。 工務局已對本公司土地更改用途一事確認用途與《澳 ...

Financial Performance - The company reported a net profit of HKD 312.9 million for the six months ending December 31, 2023, compared to a net loss of HKD 18 million in the same period of 2022[7]. - Revenue for the six months ended December 31, 2023, was HKD 78,471,000, compared to HKD 25,199,000 for the same period in 2022, representing a significant increase[25]. - Gross profit for the same period was HKD 59,717,000, compared to a gross loss of HKD 1,889,000 in 2022[25]. - Basic and diluted earnings per share for the period were HKD 0.48, compared to a loss per share of HKD 0.03 in 2022[25]. - The total comprehensive income for the period was HKD 318,449,000, reflecting a significant recovery from the previous total comprehensive loss of HKD 49,965,000[38]. - Profit attributable to equity holders for the 2023 period was HKD 312,911,000, compared to a loss of HKD 17,980,000 in the 2022 period[131]. - The company reported a pre-tax loss of HKD 13,485,000 for the six months ended December 31, 2023, compared to a pre-tax loss of HKD 18,383,000 for the same period in 2022[64]. Dividends - The board declared an interim dividend of HKD 0.0225 per share, an increase from HKD 0.0175 per share in 2022[8]. - The company plans to distribute an interim dividend of HKD 2.25 per share, up from HKD 1.75 per share in 2022, resulting in total dividends of HKD 34,266,000 for the period[73]. Assets and Liabilities - Total assets less current liabilities as of December 31, 2023, were HKD 8,637,512,000, an increase from HKD 8,339,340,000 as of June 30, 2023[29]. - The company reported a net cash increase of HKD 353,146,000 for the period, compared to a decrease of HKD 24,528,000 in the previous year[33]. - The company’s total equity increased to HKD 7,081,318,000 from HKD 6,782,460,000 in the previous period[31]. - The fair value of financial assets decreased by HKD 22,158,000 during the period[38]. - The company’s retained earnings rose to HKD 4,796,958,000, up from HKD 4,475,866,000[38]. - The total equity attributable to equity holders as of December 31, 2023, was approximately HKD 6,872,427,000, an increase of 4.5% from HKD 6,573,558,000 as of June 30, 2023[134]. Investment and Market Value - The market value of investment bonds as of December 31, 2023, was HKD 45.282 million, with a total of HKD 1.292 million in bonds redeemed during the year[13]. - The market value of investment stocks as of December 31, 2023, was HKD 46.819 million, with no stocks sold or purchased during the year[19]. - The fair value of investment properties decreased by HKD 41,366,000 during the 2023 period, compared to an increase of HKD 7,452,000 in the 2022 period[131]. - The valuation of investment properties as of December 31, 2023, was HKD 54,976,672,000, a decrease of approximately HKD 41,366,000 from HKD 6,870,006,000 as of June 30, 2023[142]. Operational Challenges - The company is facing challenges in the property market due to ongoing economic downturns and geopolitical tensions affecting financial stability[21]. - The company is actively working on land lease renewal in Macau, which was approved in January 2024, subject to certain conditions[12]. - The company plans to continue renovations on service apartments in Malaysia to improve occupancy rates[17]. - The company is actively renovating properties in Malaysia to improve occupancy rates, which are currently unsatisfactory[161]. Corporate Governance - The board believes that high-quality corporate governance is essential for enhancing the group's efficiency and performance, as well as protecting shareholder interests[168]. - The company has adopted a standard code for securities trading for directors and relevant employees, which is not less stringent than the standards set out in the Listing Rules Appendix C3[172]. - The interim financial statements for the period 2023 have been reviewed by the company's external auditors, ensuring compliance with the disclosure requirements of the Hong Kong Stock Exchange[171]. Employee and Operational Metrics - The company has a total of 51 employees as of December 31, 2023, down from 54 as of June 30, 2023[148]. - The occupancy rate for the Zhao Garden Phase II in Pokfulam is maintained at 60%[10].

Dividends and Financial Distribution - Final dividend recommended at HK3.00 cents per share, with a total distribution of HK4.75 cents per share, representing a 35.71% increase compared to last year[10] Real Estate Projects and Occupancy Rates - Occupancy rate of Phase 2 maintained at 60%[13] - The development in Kuala Lumpur comprises 4 blocks of residential condominium with a total approved gross floor area of 1,708,648 square feet, with the main podium completed up to Level 5[37] - The project in Hangzhou has a total approved gross floor area of 122,483 square meters, with 849 residential units and 22 deluxe villas by the riverside[48] - The serviced apartments in Kuala Lumpur currently have an occupancy rate of 50%, with upgrades in progress to improve occupancy[37] - The project in Shenzhen, part of the Greater Bay Area, shows a stable demand for real estate[23] - The company's property in Hangzhou has sold 9 units so far, with increased population mobility and career opportunities in the area[46][47] Investment and Securities - Total investment in the bond market as of 30 June 2023 was HK$69,114,000, with HK$88,583,000 redeemed and HK$18,126,000 purchased during the year[38] - The market value of Hong Kong securities investments as of June 30, 2023, was HKD 48,216,000, with total securities purchased during the year amounting to HKD 1,007,000 and no securities sold[73] Government Policies and Economic Outlook - The Macau government is promoting investment in non-gaming elements, including cultural tourism, convention and exhibition, and traditional Chinese medicine[35][54] - The company has applied for a land lease renewal in Macau, with the land management office still preparing a proposal for the Chief Executive to consider changing the land use and renewing the lease for 10 years[53] - The company is optimistic about Hong Kong's economic prospects despite global uncertainties, with the government focusing on strengthening commercial, trade, and investment ties with developing Asian economies under China's support[75] - Hong Kong faces internal challenges such as full employment and a talent shortage, prompting the government to introduce new policies to simplify the recruitment of foreign talent or workers, though the effectiveness of these policies remains to be seen[77] Board of Directors and Key Personnel - The company's executive directors include Dr. Cecil Chao (Chairman), Ms. Gigi Chao (Vice Chairman), and Ms. Connie Ho, with non-executive directors Mr. Howard Chao and Mr. Lee Ting Yiu, and independent non-executive directors Mr. Ting Woo Shou Kenneth, Mr. Lam Ka Wai, and Mr. Sun Tai Ho[84] - Dr. Cecil Chao, aged 87, is the founder and Executive Chairman of the Group since 1988, with extensive experience in property, construction, shipping, and architecture, and holds multiple honorary titles and awards[87][88] - Mr. Lam Ka Wai, aged 55, is an independent non-executive director with over 25 years of experience in investment banking and 3 years in accounting and auditing, currently serving as the Managing Director of an investment bank[89][90] - Ms. Connie Ho, aged 56, has been a director since 1996, with over 30 years of experience in the company secretarial field and is an associate member of The Hong Kong Chartered Governance Institute and The Institute of Chartered Secretaries and Administrators of the U.K.[96] - Mr. Howard Chao, aged 40, holds a Master of Science Degree in Real Estate from the University of Greenwich and a Bachelor of Arts Degree in Business Administration from California State University, Fullerton, with a focus on real estate sustainability[97] - Ms. Gigi Chao, aged 44, is the eldest daughter of Dr. Cecil Chao and has a background in architecture and law, with recent focus on coding and information technology, including a Professional Certificate in Coding from MIT xPro[99][100] - The company's Executive Directors include Dr. Chao Sze Tsung Cecil (Chairman), Ms. Chao Gigi (Vice Chairman), and Ms. Ho Sau Fun Connie[105] - Non-Executive Directors include Mr. Chao Howard and Mr. Lee Ding Yue Joseph[105] - Independent Non-Executive Directors include Mr. Ting Woo Shou Kenneth, Mr. Lam Ka Wai Graham, and Mr. Sun Dai Hoe Harold[105] - Mr. Sun Dai Hoe Harold, aged 60, is an Executive Director of Sun International Group and an Independent Non-Executive Director of Oriental Watch Holdings Limited since March 23, 2022[102][124] - Mr. Sun has over 30 years of experience in marketing and distribution of consumer products in Hong Kong and Southeast Asia[125] - Mr. Chao Howard has over 16 years of experience in real estate development, construction, corporate finance, and asset management, covering Hong Kong, Mainland China, Malaysia, and Macau[119][145] - Ms. Ho Sau Fun Connie, aged 56, has over 30 years of experience in company secretarial work and is a member of the Hong Kong Institute of Chartered Secretaries and the Chartered Institute of Secretaries and Administrators[117] - Mr. Ting Woo Shou Kenneth, aged 81, is the Chairman and Managing Director of Kader Holdings Company Limited and has served as an Independent Non-Executive Director of Wheelock and Company Limited from 2003 to July 27, 2020[114] - Mr. Lee Ding Yue Joseph, aged 61, is the Managing Director of Chee Yen Investment Company (PTC) Limited and has extensive experience in manufacturing, property development, and investment[113] - Mr. Chiu Sung Chiu Henry, aged 51, joined the group as Financial Director in February 2023 and has over 20 years of experience in the accounting industry[127] - Mr. Chiu, aged 51, joined the Group as Financial Controller in February 2023, bringing over 20 years of experience in the Accounting industry[153] - Mr. Chiu holds a Master Degree in Business Administration and is a Certified Public Accountant of the Hong Kong Institute of Certified Public Accountants[153] Company Information and Governance - The company's registered office is located at Suite 4901, 49th Floor, Central Plaza, 18 Harbour Road, Hong Kong[194][195][196] - The company's auditors are Grant Thornton Hong Kong Limited, Certified Public Accountants[179][198] - The company's bankers are based in Hong Kong[181][200] - The company is listed on the Hong Kong Stock Exchange[183] - The Audit Committee is chaired by Mr. LAM Ka Wai Graham, with Mr. SUN Dai Hoe Harold as a member[185] - The Remuneration Committee is chaired by Mr. CHAO Sze Tsung Cecil, with Mr. TING Woo Shou Kenneth and Mr. SUN Dai Hoe Harold as members[186][187][188][189] - The company's Company Secretary is Ms. HO Sau Fun Connie[175][191] - The company's annual report for 2023 was published by CHEUK NANG (HOLDINGS) LIMITED[155][192]

Dividends and Earnings - Final dividend per ordinary share for the fiscal year is 2.0 HK cents (2021: 3.0 HK cents)[1] - The company proposed a final dividend of HK$0.03 per share, bringing the total dividend for the year to HK$0.0475 per share, a 35.71% increase compared to the previous year[98] - Total dividends for the year increased to HKD 31,001 thousand in 2023 from HKD 22,844 thousand in 2022, with an interim dividend of 1.75 HK cents per share and a proposed final dividend of 3.00 HK cents per share[168] - The company's basic earnings per share for the year ended June 30, 2023, were HKD 0.03, compared to a loss of HKD 0.23 per share in the previous year[115] Investments and Financial Assets - Investment in Hong Kong securities as of June 30, 2023, has a market value of HKD 48,216,000, with securities purchased during the year totaling HKD 1,007,000 and no securities sold[8] - The fair value of listed securities and perpetual notes/bonds as of June 30, 2023, is HKD 48,216,000 and HKD 69,114,000, respectively[31] - Total investment in the bond market as of June 30, 2023, was HKD 69,114,000, with bonds redeemed during the year amounting to HKD 88,583,000 and bonds purchased totaling HKD 18,126,000[112] - The fair value of investment properties and financial assets at fair value through profit or loss increased by HKD 145,091,000 in 2023[9] - The company's fair value gain on investment properties was HK$145,091,000 in 2023, compared to HK$95,036,000 in 2022[36] - The fair value change of investment properties resulted in a deferred tax liability of HKD 926,091 thousand as of June 30, 2023, compared to HKD 907,610 thousand in 2022[174] Revenue and Profit - Revenue for 2023 is HKD 45,156,000 with a direct cost of HKD 17,404,000, resulting in a gross profit of HKD 27,752,000[9] - The company's gross profit for the year was HK$27,752,000, compared to HK$8,745,000 in the previous year[49] - Net profit before tax for 2023 is HKD 89,193,000, with a tax expense of HKD 36,153,000, resulting in a net profit from continuing operations of HKD 53,040,000[9] - The company's net profit attributable to equity holders was HK$21,202,000 in 2023, a significant improvement from a loss of HK$149,187,000 in 2022[50] - The company's total revenue decreased by 20.4% to HK$45,156,000 in 2023 from HK$56,738,000 in 2022[62] - The company's consolidated profit after tax for the year ended June 30, 2023, was HK$53,040,000, compared to a loss of HK$149,232,000 in the previous year[69] - Pre-tax profit increased significantly to HKD 89,193 thousand in 2023 from HKD 57,245 thousand in 2022[166] - Reportable segment profit increased to HKD 133,884 thousand in 2023 from HKD 74,231 thousand in 2022, with property leasing contributing HKD 140,100 thousand[180] Property and Real Estate - Over 40% of the villas in the first phase of "New Zhao Yuan" have been rented out[14] - The company's investment properties and development properties were valued at HK$6,870,006,000 in 2023, an increase of HK$145,091,000 from 2022[36] - The occupancy rate for Phase II of the residential project remained at 60%, while Phase I had approximately 50% of the units rented out[76][77] - The service apartment occupancy rate in Malaysia is currently 50%, with ongoing property upgrades to improve this rate[90] - The total gross floor area of the residential project in Hangzhou is 122,483 square meters, offering 849 residential units and 22 riverside villas[84] - The company's property in Malaysia includes a 41-story residential building with 417 units, of which 27 unsold units are currently operated as serviced apartments[89] - The company's residential project in Hong Kong includes two phases, with Phase I consisting of 19 villas and Phase II consisting of 4 villas, ranging from 1,450 to 12,000 square feet[80] - The company observed a recovery in real estate demand in 2023, supported by the phased reopening of quarantine-free travel between mainland China and Hong Kong[99] - Over 40% of the villas in the first phase have been rented out[171] - The company sold 9 units post-Chinese New Year, generating sales revenue of RMB 54,180,000[172] Debt and Borrowings - Bank and other borrowings as of June 30, 2023, amount to HKD 1,036,449,000, with net debt at HKD 712,924,000[33] - The company's total debt to equity ratio increased to 15.8% in 2023 from 15.3% in 2022, primarily due to a decrease in bank balances[56] - Interest-bearing borrowings under current liabilities decreased significantly to 233,733 thousand HKD in 2023 from 878,627 thousand HKD in 2022, reflecting debt reduction efforts[136] - Non-current interest-bearing borrowings increased to 630,000 thousand HKD in 2023 from 0 in 2022, showing a shift in debt structure[137] - Total financial costs increased to HKD 39,200 thousand in 2023 from HKD 22,565 thousand in 2022, with a notable rise in bank loan and overdraft interest expenses to HKD 26,845 thousand from HKD 10,817 thousand[184] Market Performance - The company's rental income decreased by 19.6% to HK$40,997,000 in 2023 compared to HK$51,009,000 in 2022[48] - The company's revenue from property leasing and management for the year ended June 30, 2023, was HKD 45,156,000, with HKD 40,997,000 from property leasing and HKD 4,159,000 from property management[128] - Revenue from the Chinese market for the year ended June 30, 2023, was HKD 5,990,000, with HKD 3,154,000 from property leasing and HKD 2,836,000 from property management[128] - Revenue from the Hong Kong market for the year ended June 30, 2023, was HKD 38,354,000, with HKD 37,031,000 from property leasing and HKD 1,323,000 from property management[128] - Revenue from the Malaysian market for the year ended June 30, 2023, was HKD 812,000, all from property leasing[128] - The company's revenue from property leasing and management for the year ended June 30, 2022, was HKD 56,738,000, with HKD 51,009,000 from property leasing and HKD 5,729,000 from property management[128] - The company's revenue from the Chinese market for the year ended June 30, 2022, was HKD 8,516,000, with HKD 4,393,000 from property leasing and HKD 4,123,000 from property management[128] - The company's revenue from the Hong Kong market for the year ended June 30, 2022, was HKD 47,644,000, with HKD 46,038,000 from property leasing and HKD 1,606,000 from property management[128] - The company's revenue from the Malaysian market for the year ended June 30, 2022, was HKD 578,000, all from property leasing[128] - Revenue from external customers in Hong Kong decreased to 38,354 thousand HKD in 2023 from 47,644 thousand HKD in 2022, indicating a decline in local market performance[157] - Revenue from external customers in China decreased to 5,990 thousand HKD in 2023 from 8,516 thousand HKD in 2022, showing a slowdown in the Chinese market[157] - Property leasing revenue decreased to HKD 40,997 thousand in 2023 from HKD 51,009 thousand in 2022, while property management revenue dropped to HKD 4,159 thousand from HKD 5,729 thousand[175] Financial Position and Assets - Total equity attributable to equity holders as of June 30, 2023, is HKD 6,573,558,000, a decrease of 1.8% compared to June 30, 2022[30] - Total assets minus current liabilities increased to 8,339,340 thousand HKD in 2023 from 7,779,109 thousand HKD in 2022, indicating growth in the company's financial position[136] - Investment properties increased slightly to 6,870,006 thousand HKD in 2023 from 6,739,921 thousand HKD in 2022, reflecting stable growth in this asset class[136] - Completed properties held for sale decreased to 359,440 thousand HKD in 2023 from 389,719 thousand HKD in 2022, showing a reduction in inventory[136] - Bank balances and cash decreased to 323,525 thousand HKD in 2023 from 367,383 thousand HKD in 2022, indicating a reduction in liquidity[136] - Total assets slightly decreased to HKD 9,301,113 thousand in 2023 from HKD 9,349,638 thousand in 2022, while total liabilities increased to HKD 2,518,653 thousand from HKD 2,481,095 thousand[180] Expenses and Costs - The company's interest expense increased by 14.9% to HK$18,105,000 in 2023 due to rising bank loan interest rates[35] - Employee costs (including directors' remuneration) decreased to HKD 25,161 thousand in 2023 from HKD 26,684 thousand in 2022, with salaries, wages, and other benefits dropping to HKD 24,385 thousand from HKD 25,893 thousand[161] - Borrowing costs were capitalized at annual interest rates ranging from 2.021% to 3.948% in 2023, compared to 0.849% to 1.051% in 2022, reflecting higher financing costs[160] - Interest income decreased to HKD 11,531 thousand in 2023 from HKD 34,357 thousand in 2022[184] - Government grants were HKD 601 thousand in 2023, compared to none in 2022[184] Taxes - Income tax expense decreased to HKD 36,153 thousand in 2023 from HKD 206,477 thousand in 2022, with a notable reduction in China land appreciation tax from HKD 204,046 thousand to HKD 17,890 thousand[166] - Total income tax expense was HKD 36,153 thousand in 2023, compared to HKD 206,477 thousand in 2022[190] - China land appreciation tax decreased significantly to HKD 17,890 thousand in 2023 from HKD 204,046 thousand in 2022[190] - The company's China subsidiary maintains a corporate tax rate of 25% in both 2023 and 2022[189] Receivables and Payables - The company's trade receivables decreased to HK$2,437,000 in 2023 from HK$3,080,000 in 2022, with a significant reduction in the 0-30 days category[40] - The company's other payables and accrued expenses increased to HK$152,768,000 in 2023 from HK$131,095,000 in 2022[43] - Trade receivables from third parties decreased to HKD 2,437 thousand in 2023 from HKD 3,080 thousand in 2022[195] - Other receivables increased to HKD 7,936 thousand in 2023 from HKD 6,402 thousand in 2022[195] - Total other receivables and prepayments were HKD 24,811 thousand in 2023, up from HKD 23,266 thousand in 2022[195] Other Income and Expenses - Other income increased to HKD 15,949 thousand in 2023 from HKD 35,888 thousand in 2022, with a significant rise in listed equity investment dividend income to HKD 2,927 thousand from HKD 951 thousand[184] - The company received approximately 432,000 HKD from the Hong Kong government's Anti-epidemic Fund under the Employment Support Scheme to retain employees[159] Internal Controls and Compliance - The company identified minor weaknesses in its internal controls during the annual review and is taking steps to address them[64] - The company's environmental policy compliance has been reviewed, and it adheres to all relevant environmental regulations[65][66] Future Plans - The company has no significant future plans for investments or capital asset purchases beyond existing projects[30]

CHEUK NANG (HOLDINGS) LIMITED 卓 能（集 團）有限公司 Stock Code 股份代號：131 ANNUAL REPORT 2022 年報 . 目錄 Contents | --- | --- | --- | |------------------------|--------------------------------------------------------------------------------------|-------| | 五年財務概要 | Five Years' Financial Summary 2 | | | 股東週年大會通告 | Notice of Annual General Meeting 3 | | | 主席報告書 | Chairman's Statement 13 | | | 董事及高層管理人員簡介 | Profiles of Directors and Senior Management 21 | | | 組織資料 | Corporate Information 28 | | | 管理層討論及分析 | Management Discu ...

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。 CHEUK NANG (HOLDINGS) LIMITED 卓 能（ 集 團 ）有限公司 （於香港註冊成立之有限公司） （股票代號：131） 補充公佈 有關截至二零二一年十二月三十一日止六個月之中期報告 謹此提述(i)卓能（集團）有限公司（「本公司」）日期為二零二二年二月二十四日之公 佈，內容有關截至二零二一年十二月三十一日止六個月（「報告期」）之中期業績； 及(ii)本公司有關報告期之中期報告（「中期報告」）。除非文義另有所指，否則於本 公佈內所採用之詞彙與中期報告內所採用者具有相同涵義。 董事會謹此就中期報告內「管理討論及分析－財務審視－財經摘要」一分節提供以 下額外資料： I. 報告期內的收入 於中期報告內披露，報告期內的營業額較去年同期減少96.4%，主要由於在 報告期內深圳沒有物業銷售。 本公司之管理層相信，深圳卓能雅苑的銷售額下降至報告期之零乃由於中國 人民銀行及中國銀行保險監督管理委員會實 ...