Financial Performance - The company reported a net loss attributable to shareholders of HKD 123.3 million, a significant improvement from the loss of HKD 1,116.6 million in the previous fiscal period, primarily due to improved fair value changes of investment properties and increased contributions from joint ventures [6]. - Adjusted EBITDA was HKD 519.8 million, a decrease of 3.6% compared to the same period last year [6]. - Total revenue for the six months ended January 31, 2025, reached HKD 3,187,830,000, an increase from HKD 2,712,536,000 in the same period of 2024, representing a growth of approximately 17.5% [19]. - The operating profit for the period was HKD 403,109,000, a significant recovery from a loss of HKD 964,099,000 in the previous year [19]. - The group reported a net loss for the period of HKD 2,112,685,000, compared to a loss of HKD 298,690,000 in the same period last year, indicating challenges in profitability despite revenue growth [19]. - The group reported a loss of HKD 1,116,646 thousand for the period, with retained earnings at HKD 12,055,405 thousand [12]. - The company reported a significant increase in rental income from Hengqin Innovation Phase I, which rose by 170.6% to HKD 9.2 million [81]. - The company recorded a revenue of HKD 2,597,000,000 for the six months ended January 31, 2025, a decrease of 15.9% compared to HKD 3,086,900,000 in the previous year [69]. Revenue Sources - Rental income from the investment property portfolio was HKD 671.3 million, with a slight decline in occupancy rates of only 0.3% year-on-year despite a challenging operating environment [6]. - The hotel business generated revenue of HKD 647.3 million, representing a 3.9% increase year-on-year, mainly driven by the Caravelle Hotel [6]. - Revenue from property development and sales was HKD 617,205,000, down from HKD 924,597,000 in the previous year, showing a decline of approximately 33.3% [19]. - Revenue from restaurant and catering products decreased from HKD 285,840,000 in 2024 to HKD 217,849,000 in 2025, a decline of 23.8% [23]. - The media and entertainment segment generated revenue of HKD 220,204,000, a decrease from HKD 285,840,000, reflecting a decline of about 22.9% [19]. Asset Management - Total capital resources as of January 31, 2025, were approximately HKD 9.14 billion, including cash and bank balances of about HKD 4.08 billion [6]. - The total loan amount remained stable at HKD 25.83 billion as of January 31, 2025, compared to HKD 26.28 billion on July 31, 2024 [6]. - The company’s total equity attributable to owners increased to HKD 17,102,573 thousand as of January 31, 2025, up from HKD 18,290,718 thousand as of July 31, 2023 [12]. - The company’s bank loans increased significantly from HKD 2,523,016 thousand in July 2024 to HKD 5,703,007 thousand in January 2025, an increase of approximately 126.5% [10]. - The company has a total of 889,488 square feet of completed rental properties in Hong Kong, with a commercial/retail area of 335,085 square feet and office space of 386,391 square feet [189]. Cost Management - Financing costs decreased by 13.8% to HKD 606.9 million, due to lower interest rates and reduced average loan balances [6]. - Administrative expenses decreased by 8.0% year-on-year due to active cost control measures [6]. - The company will continue to adopt a prudent and flexible approach, combining strict cost control to manage its operational and financial conditions [68]. - The cinema operations recorded revenue of HKD 220.2 million, an increase from HKD 188.9 million in the previous year, with a reduced segment loss of HKD 16.6 million compared to a loss of HKD 55.9 million last year [172]. Market Conditions - The global economic growth recovery is expected to remain weak due to trade tensions, heavy debt burdens, and geopolitical risks, prompting the company to adopt a cautious approach to cost control and cash recovery [49]. - The Hong Kong retail market remains weak despite an increase in tourist numbers, with local consumption expected to continue to be sluggish [50]. - The Hong Kong real estate market remains sluggish due to persistently high interest rates and a cautious economic environment, with rental income and property values declining across all real estate sectors [51]. Future Plans - The company plans to sell assets worth approximately HKD 8 billion over the next two years, including HKD 6 billion from Lai Sun Development Group and HKD 2 billion from Lai Fung Group [6]. - The company has plans for market expansion and new product development, although specific figures and timelines were not disclosed in the report [20]. - The company is seeking collaboration and investment opportunities to diversify revenue sources and maximize shareholder value [65]. - The company plans to continue focusing on strategic investments and operational efficiency to enhance future performance [16]. Property Development - The Bal Residence project has a total saleable area of approximately 62,148 square feet, with 108 residential units sold as of March 14, 2025, at an average price of HKD 15,171 per square foot [52]. - The Shangbai project has a total saleable area of approximately 36,720 square feet, with 107 units sold as of March 14, 2025, at an average price of HKD 9,405 per square foot [53]. - The company has confirmed sales of cultural studio and workshop units in the Hengqin Innovation Phase I, contributing approximately HKD 46.8 million in revenue, with additional units pending confirmation [162][163]. Investment Strategy - The group maintains a 55.60% stake in several key properties, ensuring a consistent revenue stream despite fluctuations in individual property performance [83]. - The company aims to optimize value through redevelopment, renovation, and investment strategies for its properties [105]. - The group is actively monitoring the London market for the redevelopment of properties on Leadenhall Street, with revised plans approved to enhance sustainability standards [55]. Financial Position - The company’s cash and bank deposits as of January 31, 2025, amounted to HKD 4,075,100,000, with a net debt ratio of approximately 138% [68]. - The total bank loans amount to approximately HKD 20,834,200,000, with HKD 5,703,000,000 due within one year [182]. - The group has various investment properties with a book value of approximately HKD 35,222,700,000 as of January 31, 2025 [184].

资料显示，丽新制衣国际有限公司始创于一九四七年,为成衣制造商,并于一九七二年杪在香港证券交易 所首次上市。集团业务日渐演变及多元化,其主要业务包括于香港、中国内地及海外之物业发展及投资 以及酒店经营及管理。丽新制衣国际有限公司于香港联合交易所有限公司上市,并持有本集团旗下上市 公司之主要权益。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 最近一个月来，丽新国际累计跌幅1.64%，今年来累计涨幅5.26%，跑赢恒生指数1.02%的涨幅。 财务数据显示，截至2025年1月31日，丽新国际实现营业总收入23.91亿元，同比减少15.87%；归母净利 润-1.13亿元，同比增长88.96%；毛利率37.79%，资产负债率51.28%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，综合企业行业市盈率（TTM）平均值为3.42倍，行业中值0.47倍。丽新国际市盈率-0.45 倍，行业排名第21位；其他金山能源（00663.HK）为1.33倍、天津发展（00882.HK）为3.6倍、中信股 份（00267.HK）为3.87倍、上海实业控股（00363.HK）为4 ...

Financial Performance - The company reported a net loss attributable to shareholders of HKD 123.3 million, a significant improvement from the loss of HKD 1,116.6 million in the previous fiscal period, primarily due to improved fair value changes in investment properties and reduced financing costs [4]. - Adjusted EBITDA was HKD 519.8 million, a decrease of 3.6% compared to the same period last year [4]. - Total revenue for the group reached HKD 2,760,722,000, a decrease from HKD 3,237,144,000 in the previous year, representing a decline of approximately 14.8% [15]. - The total operating loss for the period was HKD 403,109,000, a significant improvement from a loss of HKD 964,099,000 in the previous year [15]. - The net loss for the period was HKD 298,690,000, compared to a loss of HKD 2,112,685,000 in the same period last year, indicating a reduction in losses [15]. - The total comprehensive income for the period was HKD 192,106,000, compared to HKD 110,602,000 in the previous year, marking an increase of about 73.5% [15]. - The group reported a significant increase in bank loans, rising to HKD 5,703,007 from HKD 2,523,016, an increase of approximately 126.3% [10]. - The company reported a net loss from operations of HKD 606,922,000 for the six months ended January 31, 2025, compared to HKD 704,460,000 in the previous year [21]. Revenue Breakdown - Rental income from the investment property portfolio was HKD 671.3 million, with a slight decline in occupancy rates of 0.3% year-on-year despite a challenging operating environment [4]. - The hotel business generated revenue of HKD 647.3 million, an increase of 3.9% year-on-year, mainly driven by the Caravelle Hotel [4]. - The restaurant and catering segment generated revenue of HKD 641,342,000, down from HKD 939,203,000, reflecting a decrease of about 31.7% year-over-year [15]. - Revenue from property sales was HKD 617,205,000, down 33.3% from HKD 924,597,000 in the previous year [18]. - The hotel business segment experienced a revenue drop to HKD 648,068,000 from HKD 623,499,000, showing a slight increase of 3.5% year-over-year [15]. Asset and Liability Management - Total capital resources as of January 31, 2025, were approximately HKD 9.14 billion, including cash and bank balances of about HKD 4.08 billion [4]. - The total loan amount remained stable at HKD 25.83 billion as of January 31, 2025, compared to HKD 26.28 billion on July 31, 2024 [4]. - Current liabilities increased significantly to HKD 10,246,781 from HKD 6,588,781, reflecting an increase of approximately 55.5% [10]. - Total liabilities rose to HKD 33,615,268 from HKD 34,138,781, showing a slight decrease of about 1.5% [10]. - Non-current liabilities decreased to HKD 25,130,252 from HKD 29,614,005, a reduction of approximately 15.0% [10]. Market Conditions and Strategic Outlook - The company anticipates continued weak local consumption in Hong Kong, particularly due to increased outbound travel and shopping by residents [34]. - The Hong Kong real estate market remains sluggish, with the government easing mortgage loan limits in October 2024 to stimulate the sector [35]. - The company is adopting a cautious approach to its existing business and investments due to uncertainties in the global economic environment and interest rate outlook [35]. - The company plans to adapt to changing consumer behaviors and lifestyles to ensure long-term success amid a competitive market [34]. - The company expects at least 93 major events to be held in Hong Kong in the first half of 2025, which is anticipated to boost local economic activity [34]. Property Development and Sales - The Bal Residence project has a total saleable area of approximately 62,148 square feet, with 156 residential units, and as of March 14, 2025, 108 units have been sold at an average price of HKD 15,171 per square foot [38]. - The 尚柏 project has a total saleable area of approximately 36,720 square feet, with 112 residential units, and as of March 14, 2025, 107 units have been sold at an average price of HKD 9,405 per square foot [38]. - The total confirmed sales revenue from property development for the six months ending January 31, 2025, is HKD 617.2 million, a decrease from HKD 924.6 million in the same period last year [124]. - The group has recorded unconfirmed sales amounting to HKD 223.5 million as of January 31, 2025, with total unconfirmed sales including joint ventures reaching HKD 278.5 million [125]. Operational Efficiency and Cost Management - Administrative expenses decreased by 8.0% year-on-year due to active cost control measures [4]. - The group has actively closed or consolidated underperforming restaurants and cinema operations to improve overall performance [55]. - The group is actively monitoring market conditions and implementing cost optimization measures to enhance operational efficiency in cinema operations [50]. Investment and Future Projects - The company plans to sell assets worth approximately HKD 8 billion over the next two years, including HKD 6 billion from one group and HKD 2 billion from another [4]. - The company is exploring potential mergers and acquisitions to strengthen its portfolio and market position [73]. - The company is considering launching additional saleable portions of the Hengqin Innovation Square Phase I project [155]. - The group plans to expand its market presence in mainland China, focusing on retail and office spaces [73]. Cinema and Media Operations - The cinema operations recorded revenue of HKD 220.2 million for the six months ending January 31, 2025, compared to HKD 188.9 million in the previous year, with a reduced loss of HKD 16.6 million [168]. - The media and entertainment segment recorded a revenue of HKD 103.4 million for the six months ending January 31, 2025, down from HKD 179.3 million in the same period last year, with segment profit decreasing from HKD 25 million to HKD 18.5 million [170]. - The group produced and invested in a total of 6 films during the review period, compared to just 1 film in the previous year, and released 27 films, including notable titles such as "Transformers: Rise of the Beasts" and "The Empire Strikes Back II" [174].

Financial Performance - For the fiscal year ending July 31, 2024, the company reported a revenue of HKD 6,096.1 million, an increase of 22.1% from HKD 4,994.6 million in the previous year[7]. - The gross profit for the same period was HKD 1,604.0 million, resulting in a gross margin of 26%, up from 16% in the prior year[7]. - The operating loss decreased to HKD 1,668.5 million, improving the operating loss margin to -27% from -47% year-over-year[7]. - The net loss attributable to shareholders was HKD 2,167.8 million, with a net loss margin of -36%, compared to -33% in the previous year[7]. - The company's total equity attributable to shareholders decreased to HKD 15,961.5 million from HKD 18,290.7 million[7]. - The net debt increased to HKD 22,043.3 million, with a debt-to-equity ratio of 138%, up from 119% in the previous year[7]. - The current ratio improved to 2.3 from 1.5, indicating better short-term financial health[7]. - The company did not declare any dividends for the fiscal year, maintaining a dividend yield of 0%[7]. Revenue Sources - Adjusted EBITDA grew to HKD 1,191,600,000, representing a year-on-year increase of 44.4%[8]. - Rental income increased to HKD 1,363,500,000, up 8.6% year-on-year, reflecting strong performance in the investment property portfolio[8]. - Property sales surged to HKD 1,529,500,000, a significant increase of 61.6% year-on-year, primarily driven by sales from the flagship properties in China[8]. - Hotel revenue rose to HKD 1,191,400,000, marking a 21.9% increase year-on-year, benefiting from the recovery post-COVID[8]. Losses and Impairments - The fair value loss on investment properties held by the group amounted to HKD 927.9 million for the fiscal year ending July 31, 2024, compared to HKD 890.4 million in the previous year[15]. - The group experienced a significant impairment loss of HKD 688.9 million on properties held, down from HKD 1,353.0 million in the previous year[15]. - The adjusted net loss attributable to the company’s owners for the fiscal year ending July 31, 2024, is HKD 521.6 million, a slight improvement from HKD 553.4 million in the previous year[15]. Property Development - The construction of Bal Residence was completed in October 2023, with a total saleable area of approximately 62,148 square feet, including 156 residential units[24]. - The construction of the 尚柏 project was completed in March 2024, with a total saleable area of approximately 36,720 square feet, providing 112 residential units[25]. - The residential project at 79 Broadcast Drive, Kowloon Tong, is also under construction, anticipated to be completed in the first half of 2026, with a total approved construction area of approximately 55,200 square feet, offering around 27 medium to large residential units[26]. Market Conditions - The number of visitors to Hong Kong increased to approximately 21 million in the first half of 2024, representing a significant year-on-year growth of 64%[20]. - The Chinese government's measures to stabilize the real estate market include lowering down payment requirements and adjusting mortgage rates, aimed at boosting market confidence[28]. - The real estate market in mainland China remains sluggish, with property prices declining at the fastest rate in nearly a decade due to oversupply and weakened demand[28]. Rental Income and Occupancy - The group's rental income for the fiscal year reached HKD 1,363,500,000, an increase from HKD 1,255,600,000 in the previous year, representing a growth of approximately 8.6%[53]. - The occupancy rate for the group's properties in Hong Kong improved to 96.9% for Cheung Sha Wan Plaza, up from 95.5% in the previous year[54]. - The rental income from properties in mainland China amounted to HKD 714,100,000, contributing significantly to the overall rental revenue[53]. Strategic Initiatives - The company is focusing on market expansion and new product development to enhance future performance[5]. - The group is closely monitoring the redevelopment of three properties on Leadenhall Street in London, with planning approval received in May 2023[27]. - The group maintains a cautiously optimistic outlook for its business in mainland China, particularly in the vibrant Greater Bay Area[28]. Environmental, Social, and Governance (ESG) Initiatives - The group has identified nine sustainable development goals that are most relevant to its business operations, contributing to environmental, social, and governance (ESG) initiatives[180]. - The board has approved the group's environmental objectives, which will be reviewed annually by the executive committee[183]. - The group has established a systematic approach to assess ESG-related risks and develop risk mitigation plans[183]. Challenges and Risks - The company faces significant transformation risks due to policy and regulatory changes in Hong Kong and mainland China[200]. - Anticipated implementation of stricter policies may lead to higher operational costs[200]. - The most significant climate-related risk identified is tropical cyclones, which could severely damage assets and lead to economic losses[199].

Financial Performance - The company reported a loss attributable to shareholders of HKD 2,167,800,000, an increase from HKD 1,665,400,000 in the previous year[3]. - Adjusted EBITDA grew to HKD 1,191,600,000, representing a year-on-year increase of 44.4%[2]. - Total comprehensive loss for the year was HKD 4,642,640,000, compared to HKD 4,747,447,000 in the previous year[4]. - The company reported a net loss attributable to shareholders of HKD 2,167,836,000 for 2024, compared to a loss of HKD 1,665,400,000 in 2023[22]. - Total revenue for the year 2024 reached HKD 6,341,234,000, an increase from HKD 5,169,027,000 in 2023, representing a growth of approximately 22.6%[13]. - Total revenue for 2024 reached HKD 6,096,141,000, a 22.1% increase from HKD 4,994,591,000 in 2023[15]. - Total comprehensive income for 2024 is HKD 95,923,000, down from HKD 105,132,000 in 2023, representing a decrease of 8.0%[10]. - The adjusted net loss attributable to the company's owners for the year ended July 31, 2024, was approximately HKD 521.6 million, a slight improvement from HKD 553.4 million in 2023[48]. Revenue Breakdown - Property sales surged to HKD 1,529,500,000, a year-on-year increase of 61.6%, primarily driven by flagship properties in China[2]. - Hotel business revenue for 2024 is HKD 1,157,000, an increase from HKD 662,000 in 2023, reflecting a growth of 74.8%[10]. - Restaurant and catering sales for 2024 is HKD 2,850,000, compared to HKD 2,975,000 in 2023, indicating a decrease of 4.2%[10]. - Media and entertainment revenue for 2024 is HKD 14,697,000, down from HKD 19,286,000 in 2023, showing a decline of 23.8%[10]. - Theme park operations revenue for 2024 is reported as HKD 4,209,000, a decrease from HKD 5,543,000 in 2023, which is a decline of 24.0%[10]. - The company experienced a significant increase in revenue from other sources, totaling HKD 4,983,698,000, up from HKD 3,955,446,000 in the previous year[15]. Asset and Liability Management - Total capital resources amounted to approximately HKD 10,171,300,000, including cash and bank balances of about HKD 4,234,300,000[2]. - Total non-current assets decreased to HKD 55,400,066 from HKD 60,496,827, a decline of approximately 8.5% year-over-year[5]. - Current assets totaled HKD 14,941,501, down from HKD 16,525,194, representing a decrease of about 9.6%[5]. - Current liabilities decreased significantly to HKD 6,588,781 from HKD 11,162,495, a reduction of approximately 41.0%[5]. - Total equity attributable to owners decreased to HKD 15,961,547 from HKD 18,290,718, a decline of about 12.7%[6]. - Non-current liabilities increased to HKD 29,614,005 from HKD 27,039,744, an increase of approximately 9.5%[6]. - Cash and cash equivalents stood at HKD 2,827,083, down from HKD 3,709,057, a decrease of about 23.7%[5]. Property Development and Sales - The company has sold 84 out of 156 units at Bal Residence and 103 out of 112 units at 尚柏, with estimated proceeds of HKD 436,200,000 and HKD 305,600,000 respectively[2]. - Property development and sales revenue for 2024 is HKD 44,956,000, a decrease from HKD 47,408,000 in 2023, representing a decline of 3.0%[10]. - The total confirmed sales revenue from property sales for the year ending July 31, 2024, was HKD 1,529.5 million, up from HKD 946.6 million in 2023, marking a substantial increase[81]. - The average selling price for residential units in the Bal Residence was HKD 15,314 per square foot, contributing HKD 316.7 million to sales revenue[81]. - The total contracted sales from joint venture projects in Hong Kong amounted to HKD 167.2 million, including 2 independent houses and 25 residential units[85]. Market Conditions and Strategic Initiatives - The company plans to continue reviewing and reallocating resources across its business segments[2]. - The company aims to optimize its tenant mix to maintain current occupancy rates amid market challenges[28]. - The company has implemented renovation and space optimization measures to enhance the competitiveness of its major leasing properties[28]. - The geopolitical tensions and economic uncertainties are expected to continue affecting global growth and business activities[27]. - The company is adapting to changing consumer behaviors and lifestyles to ensure long-term success[28]. - The Hong Kong government has relaxed residential purchase restrictions, including the cancellation of additional stamp duty, which initially led to a significant increase in property transaction volume[29]. Investment and Financing Activities - The company completed the sale of non-residential properties and parking spaces for HKD 80,000,000, enhancing its capital structure and financial resources[38]. - A 10% stake in Bayshore Development was sold for approximately HKD 1,422,000,000, improving cash flow and financial status[38]. - The company plans to complete the sale of 港嶽 for HKD 215,800,000 by January 2025, further reallocating financial resources[39]. - The net debt ratio as of July 31, 2024, was approximately 138%, up from 119% a year earlier[41]. - The group issued secured notes totaling USD 493 million and HKD 385 million, with fixed interest rates ranging from 4.9% to 5.25%[119]. Operational Highlights - The company has implemented attractive tax policies, reducing corporate income tax to 15% for qualifying enterprises in Hengqin[77]. - The company is focusing on new product development and technology advancements to drive future growth and market expansion[59]. - The company is closely monitoring the tourism market in Thailand for its hotel project, which is still in the planning stage[104]. - The company continues to produce engaging TV series, achieving satisfactory viewership ratings on platforms like Youku and TVB, and is in discussions for new projects with multiple Chinese partners[36]. Employee and Governance - The group employed approximately 3,800 employees as of July 31, 2024, maintaining competitive salary levels and performance-based promotions[124]. - The company adhered to all corporate governance code provisions except for the attendance of the chairman at the annual general meeting due to prior commitments[123]. - The annual general meeting is scheduled for December 13, 2024, with relevant documents to be published in mid-November 2024[128].

Revenue and Financial Performance - Revenue attributable to the company's owners decreased to (1,116,646) from (818,604) in the previous period[4] - Total revenue for the six months ended January 31, 2024, was HK$60,952,834 thousand, a decrease of 3.0% compared to HK$62,861,465 thousand for the same period in 2023[18] - Net loss for the period was HK$2,112,685 thousand, compared to a net loss of HK$1,623,937 thousand in the previous year, representing a 30.1% increase in losses[21] - Other comprehensive expenses for the period were HK$153,137 thousand, up 51.1% from HK$101,327 thousand in the previous year[22] - Total comprehensive expenses for the period amounted to HK$2,265,822 thousand, a 31.3% increase from HK$1,725,264 thousand in the prior year[22] - The net loss attributable to the company's owners for the six months ended January 31, 2024, was approximately HKD 1.1166 billion, compared to HKD 818.6 million in the same period last year[137] - Reported loss attributable to owners increased to HKD 1,116.6 million, partly due to investment property revaluation adjustments[114] - Group revenue increased by 22.8% to HKD 3,086.9 million, driven by growth in leasing, property sales, hotel, and media businesses[112] - Property development and sales revenue surged by 54.0% to HKD 924.6 million, reflecting strong performance in this segment[113] - Total revenue from customer contracts reached HK$2,534,718,000, with property sales contributing HK$924,597,000 and hotel operations generating HK$622,996,000[58] - Rental income from other sources amounted to HK$552,223,000, bringing the total revenue to HK$3,086,941,000[58] - Total revenue for the six months ended January 31, 2024, was HKD 673.3 million, compared to HKD 608.4 million for the same period in 2023[168] Assets and Liabilities - Non-current assets totaled 58,857,832, a decrease from 60,496,827 in the previous period[7] - Current assets amounted to 15,593,272, down from 16,525,194 in the previous period[7] - Total equity attributable to the company's owners was 17,102,573, compared to 19,455,113 in the previous period[9] - Cash and cash equivalents decreased to 2,987,834 from 3,709,057 in the previous period[7] - Unrestricted cash and bank balances stood at 2,556,168, down from 3,300,036 in the previous period[14] - The company's total assets as of January 31, 2024, were HK$74,451,104 thousand, a decrease of 3.3% from HK$77,022,021 thousand as of July 31, 2023[18] - Total liabilities as of January 31, 2024, were HK$37,893,418 thousand, a slight decrease of 0.8% from HK$38,202,239 thousand as of July 31, 2023[18] - The company's equity attributable to owners decreased by 4.7% to HK$10,336,361 thousand as of January 31, 2024, from HK$10,773,356 thousand as of July 31, 2023[18] - Total current liabilities increased to HKD 11,162,495,000 from HKD 6,784,450,000, primarily driven by higher bank loans and lease liabilities[24] - Net current assets decreased to HKD 5,362,699,000 from HKD 8,808,822,000, reflecting a significant rise in current liabilities[24] - Total non-current liabilities rose to HKD 31,108,968,000 from HKD 27,039,744,000, mainly due to increased bank loans and secured notes[24] - The group's total cash and bank deposits as of January 31, 2024, stood at HKD 4.503 billion, with undrawn financing of HKD 5.638 billion[136] - The group's net gearing ratio as of January 31, 2024, was approximately 135%, up from 119% as of July 31, 2023[136] - The group's equity attributable to the company's owners as of January 31, 2024, was HKD 17.1026 billion, down from HKD 18.2907 billion as of July 31, 2023[138] Cash Flow and Financing - New bank loans amounted to 6,370,642, while repayments of bank loans were 5,680,364[13] - The company reported a net cash outflow from operating activities of HKD 1,075,581,000, compared to HKD 608,120,000 in the previous period[27] - Investment activities resulted in a net cash inflow of HKD 1,024,110,000, driven by repayments from joint ventures and restricted bank balances[27] - Cash and cash equivalents at the end of the period stood at HKD 4,173,643,000, down from HKD 2,987,834,000[29] - The company completed a rights issue, issuing 294,457,967 shares at a subscription price of HK$1.58 per share, raising net proceeds of approximately HK$447,100,000[49] - Interest on bank loans increased to HKD 760,754 thousand in the six months ending January 31, 2024, compared to HKD 490,431 thousand in the same period in 2023[62] Taxation and Accounting Standards - Hong Kong profits tax provision is calculated at a rate of 16.5% on estimated taxable profits, except for a subsidiary eligible for the two-tiered profits tax rate system, which is taxed at 8.25% on the first HK$2,000,000 and 16.5% on the remaining taxable profits[40] - Current period tax expenses in Hong Kong amounted to HK$11,549,000, while in Mainland China, corporate income tax and land value-added tax expenses totaled HK$247,398,000[41] - The company adopted new and revised Hong Kong Financial Reporting Standards, with no significant impact on financial performance or position[17] Property and Leasing Business - Hong Kong office and retail leasing business showed significant growth due to tenant mix optimization and property renovations[83] - Residential projects at 116 Waterloo Road and 1 & 1A Kotewall Road are under pre-construction, with planned total gross floor areas of 46,600 sq. ft. and 55,200 sq. ft. respectively[84] - The Wong Chuk Hang Station Phase 5 residential project is expected to be completed by Q4 2025, with a gross floor area of approximately 71,600 sq. ft.[84] - All 144 residential units at Yat Sing have been sold, with 6 parking spaces remaining unsold as of March 22, 2024[85] - Bal Residence project completed construction in October 2023, with 47 units sold as of March 22, 2024, at an average price of HKD 15,454 per square foot[101] - The entire 209 residential units and 7 commercial units of Xi Zuo have been sold, with parking spaces generating HKD 10.2 million in sales[102] - Lifestyles Group's rental portfolio in China, covering 5.9 million square feet, saw improved rental income despite economic slowdown challenges[105] - The group's leasing business recorded a revenue of HKD 673.3 million during the review period, with contributions from Hong Kong, London, and Mainland China properties amounting to HKD 289 million, HKD 34.1 million, and HKD 350.2 million respectively[120] - 75 parking spaces at Blue Cove were sold, generating total sales proceeds of approximately HKD 204.1 million[125] - The second phase of the Hengqin Innovation Square project is under construction, with planned commercial and experiential entertainment facilities, office spaces, and serviced apartments covering 355,500 sq. ft., 1,585,000 sq. ft., and 578,400 sq. ft. respectively[128] - Approximately 83% of the leasable area in the first phase of Hengqin Innovation Square has been leased, with major tenants including Liongate Entertainment World and National Geographic Explorer Center[128] - The group sold non-residential properties and parking spaces at the second phase of Wellon Centre for HKD 80 million to optimize its capital structure[135] - The group's total attributable gross floor area of properties under development and completed properties is approximately 4.93 million sq. ft., with significant holdings in Hong Kong, Mainland China, and overseas[141] - Hong Kong rental income increased by 10.1% to HKD 289.0 million, with notable growth in Changsha Bay Plaza (+9.2%), Causeway Bay Plaza Phase II (+11.9%), and Lai Sun Commercial Centre (+18.1%)[143] - London rental income decreased by 6.3% to HKD 34.1 million, with significant declines at Leadenhall Street 107 (-35.0%) and Leadenhall Street 106 (-75.9%)[143] - Mainland China rental income rose by 13.1% to HKD 350.2 million, driven by strong performance at Shanghai Hong Kong Plaza (+0.2%) and Guangzhou Mayflower Commercial Plaza (+7.8%)[143] - Total rental income across all regions increased by 10.7% to HKD 673.3 million, reflecting overall growth in the company's property portfolio[143] - Changsha Bay Plaza's rental income grew to HKD 143.2 million, with a 55.60% equity interest and a total gross floor area of 643,703 square feet[145] - Causeway Bay Plaza Phase II rental income increased to HKD 67.9 million, with a 55.60% equity interest and a total gross floor area of 206,038 square feet[145] - Joint venture projects in Hong Kong, including China Construction Bank Tower and Blue Pool Court, contributed HKD 69.0 million in rental income[150] - The company's joint venture with China Construction Bank generated rental income of approximately HKD 114.6 million, with a 50% equity interest[151] - The joint venture with Empire Group for Blue Pool Court generated rental income of approximately HKD 23.4 million, with a 50% equity interest[151] - The company's total rental income in London, when converted to GBP, decreased by 11.6% to GBP 3.461 million[152] - The London property portfolio's rental revenue decreased by 11.6% in GBP terms during the review period, with the average GBP exchange rate appreciating by approximately 5.9%[172] - The Shanghai Hong Kong Plaza generated HKD 134.7 million in revenue, with retail contributing HKD 83.4 million and office space contributing HKD 48.2 million[167] - The Guangzhou Mayflower Commercial Plaza recorded HKD 49.6 million in revenue, with retail contributing HKD 43.0 million and office space contributing HKD 4.9 million[168] - The Shanghai Mayflower Life Plaza generated HKD 20.3 million in revenue, with retail contributing HKD 18.1 million[167] - The Shanghai Kaixin Haoyuan recorded HKD 8.8 million in revenue, with retail contributing HKD 8.5 million[167] - The Shanghai Lifeng Skyline Center generated HKD 23.1 million in revenue, with retail contributing HKD 2.7 million and office space contributing HKD 19.4 million[168] - The Guangzhou Lifeng International Center recorded HKD 17.3 million in revenue, with retail contributing HKD 3.6 million and office space contributing HKD 12.4 million[168] - The Zhongshan Palm Rainbow Garden Rainbow Hui Mall generated HKD 2.6 million in revenue[168] - The total rental revenue from the London investment portfolio was HKD 6.7 million, with the Leadenhall Street 107 property contributing HKD 2.0 million[167] - The 27-story office building in Central, Hong Kong, has a total gross floor area of 229,206 square feet (excluding parking spaces), with 19 office floors and 1 banking hall leased to China Construction Bank for its Hong Kong operations[177] - The Innovation Square project in Hengqin has an 83% occupancy rate for the first phase of the commercial area, with major tenants including Liongate Entertainment World® and Hengqin National Geographic Explorer Center[190] - The London property at Leadenhall Street 100 has a total internal area of 177,700 square feet and is fully leased to Chubb Market Company Limited[196] - The proposed redevelopment of the Leadenhall property in London will include approximately 1,059,525 square feet of office space and 57,827 square feet of new retail space, with a total internal area of 1,296,029 square feet upon completion[198] - The property in Guangzhou has a retail area of approximately 182,300 square feet, fully owned by Lai Fung Group, with tenants including well-known restaurants and local retail brands[186] - The property in Shanghai's Hong Kong Plaza is strategically located in the Huangpu District, with convenient access to public transportation and proximity to Xintiandi[181] - The property in Zhongshan has a total gross floor area of approximately 181,100 square feet, serving as a community retail facility[188] - The property in London at Leadenhall Street 106 has a total internal area of 19,924 square feet and is currently vacant[197] - The property in Hong Kong's Causeway Bay has a total gross floor area of 206,038 square feet, with major tenants including HSBC and prominent restaurants[194] - The property in Hong Kong's Lai Chi Kok has a total gross floor area of 643,703 square feet, serving the local community with major tenants including large banks and well-known chain restaurants[193] Investments and Joint Ventures - Interest income from loans to joint ventures amounted to HK$53,143,000, while film screening income from joint ventures reached HK$1,336,000[51] - The company's joint venture with China Construction Bank generated rental income of approximately HKD 114.6 million, with a 50% equity interest[151] - The joint venture with Empire Group for Blue Pool Court generated rental income of approximately HKD 23.4 million, with a 50% equity interest[151] - The company's joint venture with China Construction Bank generated rental income of approximately HKD 114.6 million, with a 50% equity interest[151] - The joint venture with Empire Group for Blue Pool Court generated rental income of approximately HKD 23.4 million, with a 50% equity interest[151] Market and Economic Conditions - Global GDP growth slowed due to geopolitical tensions, tight financial conditions, and weak trade growth, with high interest rates expected to persist[82] - Office leasing market remains weak due to cautious tenants and reduced demand from multinational and Chinese companies, leading to rising vacancy rates and suppressed rents[99] Management and Personnel - Total remuneration for key management personnel decreased to HKD 32,704 thousand for the six months ending January 31, 2024, from HKD 37,422 thousand in the previous year[90] Fair Value and Financial Instruments - Fair value losses on financial assets increased to HKD 13,385,000 from HKD 9,256,000[36] - Lease modification gains were recorded at HKD 28,959,000, compared to none in the previous period[36] - The fair value of financial assets is determined using significant observable inputs such as spot exchange rates, volatility, and risk-free rates[77] - The fair value of equity interests in other investee companies is determined using the Black-Scholes option pricing model[78] - The capitalization ratio increased to 2.90% as of January 31, 2024, compared to 2.85% as of July 31, 2023[80] - The equity value volatility ranged from 53.74% to 66.83% as of January 31, 2024, compared to 56.21% to 83.40% as of July 31, 2023[80] - The expected exit time for financial assets measured at fair value through profit or loss ranged from 1.8 to 3.5 years as of January 31, 2024[80] - The average monthly market rent per square foot for financial assets measured at fair value through other comprehensive income was HKD 134 as of January 31, 2024[80] - Fair value of financial assets classified as Level 3 increased to HKD 1,953,866 thousand as of January 31, 2024, from HKD 1,915,642 thousand as of July 31, 2023[93] - The fair value of equity in an investment company classified as Level 3 is estimated using the income approach, based on discounted cash flow projections[94] - The fair value of financial assets is influenced by higher market rental rates per square foot and higher equity value volatility[96] Dividends and Shareholder Returns - No interim dividend declared for the fiscal year ending July 31, 2024, consistent with the previous year[82] Media and Entertainment - Two new cinemas opened in Hong Kong, enhancing the company's cinema network and market position[107] - Strategic alliance formed with Alibaba's cultural and entertainment group for co-production and investment in films and TV series[109] Depreciation and Amortization - Depreciation of property, plant, and equipment decreased to HKD 211,478,000 from HKD 183,458,000[36] - Depreciation expenses of approximately HK$335,926,000 were included in the unaudited condensed consolidated income statement under "Other operating expenses"[59] Exchange Rates and Foreign Currency - Net exchange differences improved to a loss of HKD 50,259,000 from a gain of HKD 25,799,000[36] - The London property portfolio's rental revenue decreased by 11.6% in GBP terms during the review period, with the average GBP exchange rate appreciating by approximately 5.9%[172] Accounts Receivable and Credit Risk - The company's accounts receivable totaled HK$334,645,000, with HK$239,348,000 not yet due or overdue for less than 30 days[45] - Trade rece

Revenue Performance - The hotel and serviced apartment business generated revenue of HKD 623 million for the six months ended January 31, 2024, a significant increase of approximately 47.8% compared to HKD 421.5 million in the same period last year[1]. - The cinema operations recorded revenue of HKD 188.9 million for the six months ended January 31, 2024, down from HKD 263.1 million in the previous year, resulting in a loss of HKD 55.9 million[10]. - The media and entertainment segment reported revenue of HKD 179.3 million, a slight increase from HKD 176.0 million in the previous year, with profit rising from HKD 17.4 million to HKD 25.0 million[13]. - For the six months ending January 31, 2024, the total revenue was HKD 3,086.9 million, an increase of 22.8% compared to HKD 2,512.9 million in the same period last year[35]. - The property investment segment generated revenue of HKD 673.3 million, up 10.7% from HKD 608.4 million year-on-year[35]. - The property development and sales segment saw a significant increase in revenue to HKD 924.6 million, a 54.0% rise from HKD 600.2 million[35]. - The restaurant and catering sales business achieved revenue of HKD 285,840,000, compared to HKD 262,619,000, indicating a growth of 8.5% year-over-year[52]. - The total rental income from joint venture projects in Hong Kong for the six months ending January 31, 2024, is reported at HKD 69 million, compared to HKD 67.8 million for the same period in 2023[86]. Hotel and Apartment Operations - The Ocean Park Marriott Hotel in Hong Kong recorded revenue of HKD 226.7 million with an occupancy rate of 67.2%[2]. - The Caravelle Hotel in Ho Chi Minh City achieved revenue of HKD 246.3 million and an occupancy rate of 86.0%[2]. - The Zhuhai Hengqin Hyatt Hotel reported revenue of HKD 82.0 million with an occupancy rate of 78.3%[2]. - The Shanghai Ascott Huaihai Road serviced apartments generated revenue of HKD 52.8 million with an occupancy rate of 85.8%[2]. - The total number of hotel rooms across the group is 1,848, with a total built-up area of approximately 1,856,594 square feet[2]. Losses and Financial Challenges - The net loss attributable to shareholders for the six months was approximately HKD 1,116.6 million, compared to HKD 818.6 million in the previous year[35]. - The company reported a loss before tax of HKD 2,002,539, compared to a loss of HKD 1,572,512 in the previous year, indicating a 27.2% increase in losses[40]. - The total comprehensive loss for the period was HKD 2,265,822, compared to HKD 1,725,264 in the prior year, reflecting a 31.4% increase[42]. - The company’s loss attributable to shareholders was HKD 1,116,646, compared to HKD 818,604 in the previous year, marking a 36.5% increase[40]. Property Development and Sales - The company produced and invested in a total of 1 film and 1 television program during the review period, compared to 2 films in 2023[17]. - The company anticipates continued growth in property sales and revenue in the upcoming quarters, driven by strategic market expansions and new developments[137]. - The total confirmed sales from properties in Hong Kong reached HKD 924.6 million, with significant contributions from various residential and parking unit sales[125]. - The total sales area for the completed project "Blue Tang Ao" was approximately 405,831 square feet, with an average price of HKD 18,000 per square foot[141]. Financial Position and Assets - The company held cash and bank balances of approximately HKD 4.5 billion and undrawn financing of HKD 5.6 billion as of January 31, 2024[21]. - The total assets as of January 31, 2024, were HKD 60,952,834,000, compared to HKD 62,861,465,000 as of July 31, 2023, indicating a decrease of approximately 3.0%[54]. - The total liabilities decreased to HKD 37,893,418,000 from HKD 38,202,239,000, a reduction of about 0.8%[54]. - The company reported a fair value loss on investment properties of HKD 1,116,797,000 for the current period, compared to HKD 916,052,000 in the previous year[52]. Market Outlook and Strategic Initiatives - The global GDP growth for 2023 is expected to be stronger than anticipated, primarily due to the post-COVID-19 recovery, but geopolitical tensions and high interest rates are hindering recovery[76]. - The Hong Kong market is projected to see GDP growth between 2.5% and 3.5% in 2024, despite facing challenges such as high interest rates and low consumer confidence[77]. - The company is actively optimizing its tenant mix and has completed several renovations to enhance the competitiveness of its leasing properties in Hong Kong[80]. - The company has established a strategic alliance with Alibaba's Youku and Alibaba Pictures Group for joint production and investment in films and TV series, enhancing its market presence[155]. Restaurant and Catering Business - The restaurant and catering sales business generated revenue of HKD 285.8 million for the six months ending January 31, 2024, an increase of approximately 8.8% compared to HKD 262.6 million in the same period last year, primarily due to the easing of COVID-19 restrictions[197]. - The group opened two new restaurants during the review period: Plaisance by Mauro Colagreco and KiKi Noodle Shop at Hysan Place[197]. - The group currently operates 27 restaurants in Hong Kong and mainland China, along with one managed restaurant in Macau[197]. - The group holds a 38% stake in the Michelin three-star restaurant 8½ Otto e Mezzo BOMBANA in Hong Kong, which has maintained its rating from 2012 to 2024[197].

Financial Performance - For the fiscal year ending July 31, 2023, the company reported a revenue of HKD 4,994.6 million, a decrease of 3.8% from HKD 5,191.8 million in the previous year[12]. - The gross profit for the same period was HKD 799.3 million, down from HKD 1,622.1 million, indicating a significant decline[12]. - The company experienced a net loss attributable to shareholders of approximately HKD 1,665.4 million, compared to a loss of HKD 1,196.3 million in the previous year, reflecting an increase in losses[14]. - The company reported a loss per share of HKD 2.159, compared to HKD 1.928 in the previous year[14]. - The increase in losses was primarily due to reduced property sales from Lai Fung Holdings and increased financing costs[14]. - The fair value of investment properties decreased compared to the previous fiscal year, contributing to the overall loss[14]. - The company reported an operating loss of HKD 2,358.1 million, with an operating loss margin of -47%, compared to -24% in the previous year[49]. - The net loss attributable to shareholders was HKD 1,665.4 million, with a reported net loss margin of -33%, compared to -23% in the previous year[49]. - The company completed a rights issue in January 2023, raising approximately HKD 447.1 million, which was fully utilized to repay outstanding bank loans[45]. - The company's stock price as of July 31, 2023, was HKD 1.350, down from HKD 4.490 the previous year[49]. Revenue Breakdown - Revenue from property investment decreased by 6.4% to HKD 1,255.6 million, while property development and sales dropped by 43.8% to HKD 946.6 million[13]. - The restaurant and food sales business saw an increase of 31.6%, reaching HKD 552.6 million, and hotel operations revenue rose by 50.4% to HKD 977.7 million[13]. - Media and entertainment revenue increased by 45.1% to HKD 372.5 million, while cinema operations revenue grew by 36.4% to HKD 525.1 million[13]. - The company's revenue from rental business for the fiscal year was HKD 1,255.6 million, a decrease from HKD 1,341.8 million in the previous year[54]. - Rental income from properties in Hong Kong, London, and Mainland China was HKD 539.8 million, HKD 77.1 million, and HKD 638.7 million respectively[54]. Asset and Equity Position - As of July 31, 2023, the company's equity attributable to shareholders was HKD 18,290.7 million, down from HKD 19,274.6 million a year earlier[16]. - The net asset value per share decreased from HKD 32.729 as of July 31, 2022, to HKD 20.706 as of July 31, 2023, primarily due to the expansion of the shareholder base from a rights issue completed in January 2023[16]. - The company's net asset value per share decreased to HKD 20.706 from HKD 32.729 in the previous year[49]. - The total assets of the group as of July 31, 2023, amounted to HKD 77,022,021,000, down from HKD 84,504,924,000 in 2022, reflecting a decrease of approximately 8.5%[193]. - The group's total liabilities were HKD (38,202,239,000) in 2023, a reduction from HKD (41,431,237,000) in 2022, showing a decrease of about 7.5%[193]. Market Conditions and Challenges - The global geopolitical and economic issues continue to overshadow the fragile global economic recovery, with inflation driven by high commodity prices and supply chain disruptions[20]. - The office leasing business in Hong Kong faced challenges, with a cautious market leading to increased vacancy rates and downward pressure on rental prices[22]. - China's GDP growth target for 2023 is approximately 5.0%, reflecting the impact of economic slowdown, with ongoing government measures to stimulate economic growth[32]. - The company anticipates challenges in the upcoming fiscal year but remains committed to strategic initiatives aimed at improving financial performance and operational efficiency[190]. Property Development and Sales - Construction of the Bal Residence and Yuen Long Tai Keng Ling projects is on schedule, expected to complete in the first half of 2024, adding approximately 71,800 sq ft and 42,200 sq ft to the development portfolio[25]. - As of October 20, 2023, eight units of Bal Residence have been pre-sold, with a total saleable area of approximately 2,731 sq ft and an average selling price of HKD 17,800 per sq ft[25]. - The company has acquired two residential projects, with a total construction area of approximately 46,600 square feet for the Woda Lao Dao 116 project, providing around 85 residential units, and approximately 55,200 square feet for the Xu He Dao 1 and 1A projects, offering about 27 medium to large residential units[27]. - The company has sold all 144 residential units of the Yi Xing project, with a total saleable area of approximately 45,822 square feet and an average selling price of about HKD 21,300 per square foot[28]. - The confirmed sales revenue from property sales for the year ended July 31, 2023, was HKD 946.6 million, a decrease of 43.8% compared to HKD 1,685.5 million in 2022[108]. Operational Strategies - The company continues to diversify its business, focusing on property investment, hotel operations, and media production[6]. - The company continues to optimize its tenant mix and has completed several renovations to enhance the competitiveness of its major leasing properties[24]. - The company is focusing on enhancing its operational efficiency and optimizing its property management strategies to improve rental income performance[60]. - The company plans to continue seeking collaboration and investment opportunities to diversify its business and maximize shareholder value[45]. - The company maintains a cautious and flexible approach to seize new development opportunities[30]. Cinema and Media Operations - The cinema operations in Hong Kong have fully reopened, with all seating now available, following the easing of COVID-19 restrictions[39]. - The company has successfully expanded its cinema network by opening four new cinemas in Hong Kong, including the MCL Cinemas Plus+ in Diamond Hill[39]. - The media group continues to invest in original quality film productions, including projects currently in production[42]. - The media and entertainment segment recorded revenue of HKD 372,500,000 for the year ending July 31, 2023, up from HKD 256,800,000 in the previous year, turning a loss of HKD 8,400,000 into a profit of HKD 12,200,000[172]. - The cinema operations segment reported revenue of HKD 525,100,000 for the year ending July 31, 2023, compared to HKD 385,000,000 in 2022, with a reduced loss of HKD 55,500,000[170]. Employee and Management Practices - The group employed approximately 4,100 employees as of July 31, 2023, emphasizing the importance of maintaining a stable workforce for ongoing success[188]. - The group has implemented competitive salary policies and performance-based promotions, which are crucial for employee retention and motivation[188]. - The group continues to invest in new product development and technology to enhance market competitiveness, although specific figures were not disclosed in the report[190]. Future Outlook - The group plans to continue expanding its property portfolio and exploring new investment opportunities in the market[60]. - The group is exploring market expansion opportunities and potential mergers and acquisitions to drive future growth, although detailed plans were not outlined in the conference call[190]. - The group’s future strategy focuses on providing management services, particularly leveraging opportunities from the Li Fung Group's developments in Shanghai, Guangzhou, Zhongshan, and Hengqin[165].

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，概不對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。 截至二零二三年七月三十一日止年度之 末期業績公佈 業績 麗新製衣國際有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司（「本集團」） 截至二零二三年七月三十一日止年度之綜合業績，連同去年比較數字如下： 綜合收益表 截至二零二三年七月三十一日止年度 二零二三年 二零二二年 附註 千港元 千港元 營業額 4 4,994,591 5,191,815 銷售成本 (4,195,305) (3,569,673) 毛利 799,286 1,622,142 其他收入及收益 359,274 412,948 銷售及市場推廣開支 (241,182) (253,834) 行政開支 (956,369) (897,700) 其他經營開支 (1,428,736) (2,230,081) ...

Financial Performance - Revenue for the six months ended January 31, 2023, was HKD 2,512,885,000, a decrease of 9.3% compared to HKD 2,770,827,000 for the same period in 2022[3]. - Gross profit for the same period was HKD 952,846,000, down 5.6% from HKD 1,009,048,000 year-on-year[3]. - Operating loss increased significantly to HKD 956,590,000 from HKD 176,397,000 in the previous year, reflecting a deterioration in operational performance[3]. - The company reported a net loss of HKD 1,623,937,000 for the period, compared to a loss of HKD 715,171,000 in the prior year, indicating a year-on-year increase of 127.5%[4]. - Basic and diluted loss per share was HKD 1.238, compared to HKD 0.522 for the same period last year[3]. - The company reported a loss of HKD 818,604,000 for the period, contributing to a total comprehensive loss of HKD 1,725,264,000[8]. - The company raised HKD 447,083,000 from a rights issue during the period[8]. - The company's share capital increased to HKD 2,178,944,000 from HKD 1,731,861,000, reflecting a growth of 25.8%[8]. - The total reserves decreased from HKD 17,542,722,000 to HKD 16,724,321,000, a decline of 4.7%[8]. Assets and Liabilities - Non-current assets totaled HKD 62,219,066,000 as of January 31, 2023, a decrease from HKD 63,153,622,000 as of July 31, 2022[6]. - Current assets decreased to HKD 18,848,962,000 from HKD 21,351,302,000, reflecting a decline of 11.7%[6]. - As of January 31, 2023, current liabilities totaled HKD 10,633,962,000, a decrease of 18.3% from HKD 13,007,448,000 as of July 31, 2022[7]. - Non-current liabilities were reported at HKD 28,319,410,000, slightly down from HKD 28,423,789,000, indicating a decrease of 0.4%[7]. - The equity attributable to the company's owners was HKD 18,903,265,000, a decrease of 1.9% from HKD 19,274,583,000[7]. - The company's total assets minus current liabilities amounted to HKD 70,434,066,000, down from HKD 71,497,476,000, reflecting a decline of 1.5%[7]. - The company's total liabilities were reported at HKD 876,718, indicating a need for careful management of debt levels[10]. Cash Flow and Investments - The net cash flow used in operating activities for the six months ended January 31, 2023, was HKD (1,075,581) thousand, an improvement from HKD (2,455,616) thousand in the same period last year[11]. - Cash flow from investing activities resulted in a net inflow of HKD 1,024,110 thousand, compared to HKD 1,770,100 thousand in the previous year[13]. - The net cash flow used in financing activities was HKD (1,233,314) thousand, a slight improvement from HKD (1,485,078) thousand in the previous year[13]. - The company made investments in property, plant, and equipment totaling HKD (87,392) thousand, down from HKD (171,731) thousand in the previous year[11]. - The company’s unrestricted cash and bank balances were HKD 3,300,036 thousand, down from HKD 4,935,335 thousand year-over-year[13]. Revenue Segments - Total revenue for the six months ended January 31, 2023, was HKD 2,604,507,000, a decrease of 7.7% compared to HKD 2,822,284,000 in the same period of 2022[21]. - The property development and sales segment generated revenue of HKD 600,158,000, down 30.1% from HKD 858,861,000 year-on-year[21]. - The hotel business reported a loss of HKD 138,367,000, compared to a loss of HKD 167,492,000 in the previous year, indicating an improvement[21]. - The media and entertainment segment, including film and television, saw a revenue increase to HKD 176,048,000 from HKD 147,244,000, representing a growth of 19.6%[21]. - Revenue from rental income was HKD 503,610,000, a decrease from HKD 589,460,000 in the previous year[25]. Market Outlook and Strategy - The company plans to focus on market expansion and new product development to improve future performance[5]. - The company has not provided specific guidance for future performance but indicated ongoing challenges in the market[21]. - The company continues to explore new strategies for market expansion and product development, although specific details were not disclosed in the call[21]. - The company remains cautious and flexible in its approach to new development opportunities amid global economic uncertainties[63]. Property Development and Sales - The Bal Residence project has commenced pre-sales in February 2023, with 3 units sold, totaling 1,016 square feet at an average price of HKD 18,000 per square foot[59]. - The company plans to complete construction of the Bal Residence and Yuen Long projects by the first half of 2024, adding approximately 71,800 square feet and 42,200 square feet respectively to its portfolio[59]. - The company has sold 75 parking spaces at Blue Tongue, generating total sales proceeds of approximately HKD 204.1 million[60]. - All 144 residential units at Yat Fai have been sold, with a total sales area of 45,822 square feet at an average price of HKD 21,300 per square foot[62]. - The company is optimistic about the long-term prospects of the Hong Kong residential property market, driven by strong demand and supply constraints[59]. Hotel and Hospitality Operations - The hotel and serviced apartment operations generated revenue of HKD 421.5 million for the six months ended January 31, 2023, compared to HKD 335.6 million in the same period of 2022, reflecting a growth of approximately 25.6%[190]. - The occupancy rate for the Ocean Park Marriott Hotel in Hong Kong was 45.9%, while the Caravelle Hotel in Ho Chi Minh City recorded an occupancy rate of 55.2%[191]. - The Caravelle Hotel achieved a revenue of HKD 199.5 million, contributing significantly to the overall hotel revenue[191]. - The group is closely monitoring the tourism market in Thailand, where a hotel project in Phuket is still in the planning stage[190]. Media and Entertainment - The cinema operations recorded revenue of HKD 263.1 million for the six months ended January 31, 2023, compared to HKD 223.9 million in 2022, with a loss of HKD 35.2 million, an improvement from a loss of HKD 61.9 million in the previous year[197]. - The media and entertainment segment achieved revenue of HKD 176 million, up from HKD 147.2 million in 2022, with profit increasing from HKD 9.8 million to HKD 17.4 million[198]. - The group organized and invested in 47 performances during the review period, a significant increase from 8 performances in 2022, featuring local, Asian, and international artists[199]. - The group released 5 albums during the review period, down from 6 in 2022, and plans to leverage its music library through new media to enhance music copyright revenue[200].