廖創興企業有限公司 Liu Chong Hing Investment Limited 中 期 報 告 股份代號：00194 廖創興企業有限公司 = 零二二年中期報告 提名委員會 執行董事 廖烈智先生(主席) 廖烈智先生(主席、董事總經理兼行政總裁) 應金輝先生(副董事總經理) 許榮泉先生 李偉雄先生 鄭毓和先生 區錦源先生 非執行董事 馬灣銘模 許榮泉先生 唐晉森先生 李偉雄先生(秘書) BES. M. Arch, HKIA, RIBA, ARAIA, MRAIC, Assoc. AIA, Registered Architect, 薪酬委員會 A.P. (Architect), MHKIoD 公司資料 董事曾 | --- | --- | |------------------------------------------|------------------| | | | | | 鄭慕智博士(主席) | | 獨立非執行董事 | 許榮泉先生 | | 鄭嘉智博士 | 馬灣銘模 | | GBM, GBS, OBE, LLB (HK), J.P. | 鄭毓和先生 | | 區錦源先生 | 田少娟女士(秘書) | ...

Financial Performance - Total assets increased from HK$14.53 billion in 2017 to HK$16.18 billion in 2021, representing an increase of approximately 11.3%[6] - Profit for the year attributable to owners of the Company decreased from HK$744.89 million in 2017 to HK$427.30 million in 2021, a decline of about 42.6%[6] - Basic earnings per share fell from HK$1.97 in 2017 to HK$1.13 in 2021, a decrease of approximately 42.5%[6] - Total liabilities rose from HK$2.70 billion in 2017 to HK$2.95 billion in 2021, an increase of about 9.4%[6] - Dividend per share decreased from HK$0.60 in 2017 to HK$0.28 in 2021, a reduction of approximately 53.3%[6] - The dividend payout ratio was 30% in 2017 and dropped to 25% in 2021, indicating a more conservative approach to dividend distribution[6] - Total net assets increased from HK$11.84 billion in 2017 to HK$13.23 billion in 2021, reflecting a growth of approximately 11.7%[6] - For the year ended December 31, 2021, the consolidated profits of the Company amounted to approximately HK$420.6 million, representing an increase of 142% compared to HK$173.5 million in 2020[78] - Revenue for 2021 was HK$835,165,000, an 8% increase from HK$771,622,000 in 2020[76] - Profit attributable to owners of the Company for 2021 was HK$427,302,000, a significant increase of 163% from HK$162,560,000 in 2020[76] - Basic earnings per share for 2021 rose to HK$1.13, up 163% from HK$0.43 in 2020[76] - The dividend payout ratio for 2021 was 41%, a decrease of 52% from 93% in 2020[76] Market and Economic Overview - In 2021, the global economy grew by 5.5%, with the strongest growth seen in developed countries due to vaccine availability and policy support[16] - The US economy advanced by 5.7% in 2021, supported by approximately $6 trillion in government stimulus and loose monetary policy[19] - China led significant economies with a GDP growth of 8.1% in 2021, driven by strong exports which grew by 30%[20] - The Euro Zone and the UK reported GDP growth of 5% and 7% respectively, bolstered by improvements in the labor market and private consumption[19] - The MSCI Emerging Market Index dropped by approximately 5% in 2021, contrasting with gains in developed markets[16] - The Stoxx Europe 600 index gained 22%, while the Topix index rose by 10% in 2021[16] - The US dollar had its best year since 2015, except against the Renminbi, amidst rising inflation and monetary tightening prospects[16] - The unemployment rate in Australia ended the year at 4.2%, with an annual GDP growth of 5% despite a contraction due to the Delta variant outbreak[19] - The emergence of the Omicron variant in Q4 2021 dampened economic growth in both the Euro Zone and the UK[19] Property Market Insights - The residential floor area sold in 50 key cities in China saw a 40% increase in the first half of 2021, followed by a 20% decrease in the second half, marking the smallest transaction volume since 2015[20] - The Hong Kong residential market saw a 4.4% increase in mass residential property values and a 7.2% increase in luxury property values by the end of 2021[22] - The Grand Riviera project in Foshan achieved sales of 99%, 100%, 100%, and 94% for phases 1, 2, 3, and 4 respectively, with total sale proceeds reaching approximately HK$6 billion by the end of 2021[22] - The residential project "Elegance Garden" in Foshan has a total buildable area of 142,908.8 sq.m. and is scheduled for completion in October 2022[23] - The Group recorded sales revenue of approximately HK$239 million, selling 63 residential units and 363 carpark spaces[91] - As of December 31, 2021, a total of 5,211 residential units (99% of total 5,264 units) and 2,045 carpark units (44% of total 4,670 units) were sold, generating accumulated sales proceeds of approximately HK$6 billion[91] Investment and Strategic Initiatives - The company aims to enhance its market position by promoting high-quality projects and leveraging its central location in Hong Kong[3] - The company is focused on expanding its market presence and exploring new strategic initiatives to enhance shareholder value[1] - The Group completed the investment in Kimpton Kitalay Samui, a five-star hotel in Thailand, with a total buildable area over 22,098 sq.m.[23] - The Group has a healthy cash flow and a strong balance sheet with a net cash position, allowing it to time the sales of residential units to maximize profit[26] - The Group is committed to seeking local and overseas investments that meet high prudential requirements while ensuring worthwhile returns[26] - The Group's financial strength allows it to continue pursuing strategic projects despite economic uncertainties[26] Corporate Governance and Compliance - The company intends to comply with the Corporate Governance Code, ensuring directors are subject to retirement at least once every three years[32] - All directors confirmed compliance with the Model Code for Securities Transactions throughout the review period[35] - The company has substantially complied with the Corporate Governance Code as set out in Appendix 14 of Listing Rules for the financial year ended 31 December 2021[116] - The Board comprises three Executive Directors, one Non-executive Director, and five Independent Non-executive Directors, meeting the requirement that at least one-third of the Board should be Independent Non-executive Directors[118] - The Independent Non-executive Directors are involved in the Audit Committee, Remuneration Committee, and Nomination Committee, ensuring effective and independent Board operations[120] - The Company Secretary is responsible for taking minutes of Board meetings, which are circulated for comments and finalized for records[128] Environmental, Social, and Governance (ESG) Initiatives - Key material ESG issues identified include waste management, health and safety, use of resources, emissions, development and training, and supply chain management[177] - The Group is committed to integrating effective environmental, social, and governance initiatives into its daily operations[176] - The Group signed the Energy-Saving Charter 2021, aiming to maintain an average indoor temperature between 24 and 26°C during summer and encouraging energy-saving practices among staff and tenants[181] - The Group's Chong Hing Finance Center in Shanghai has been awarded LEED gold certification, demonstrating its commitment to environmental sustainability[181] - The Group aims to minimize pollution and waste in daily operations while aligning with best practices for sustainable buildings[178] - The Group emphasizes the "Reduce, Reuse, Recycle" principle as a core concept in its environmental protection efforts[178] Shareholder Engagement - The Company is committed to maintaining a policy of open and timely disclosure of relevant information to shareholders, subject to applicable legal requirements[158] - Communication with shareholders is conducted through annual and interim reports, press releases, and disclosures to the Stock Exchange[158] - The Board encourages shareholder participation in general meetings and supports the appointment of proxies for those unable to attend[160] - The Company arranges for the annual report and financial statements to be posted to shareholders at least 21 days prior to the annual general meeting[159] - Shareholders holding at least 5% of total voting rights can request to convene a general meeting[167]

2INTERIM REPORT 021 2021中期報告 INTERIM REPORT 2021 股份代號 : 00194 中期報告 STOCK CODE : 00194 二零二一年中期報告 廖創興企業有限公司 審核委員會 鄭毓和先生(主席) 鄭慕智博士 執行董事 廖烈智先生(主席、董事總經理兼行政總裁) 區錦源先生 廖金輝先生(副董事總經理) 唐晉森先生 李偉雄先生 李偉雄先生(秘書) 非執行董事 提名委員會 許榮泉先生 廖烈智先生(主席) 許榮泉先生 BES. M. Arch, HKIA, RIBA, ARAIA, MRAIC, 鄭毓和先生 Assoc. AIA, Registered Architect, 區錦源先生 A.P. (Architect), MHKIoD 出望銘贤妮 獨立非執行董事 唐晉森先生 鄭嘉智博士 李偉雄先生(秘書) GBM, GBS, OBE, LLB (HK), J.P. 區錦源先生 薪酬委員會 馬鴻銘博士 PhD, BBS, J.P. 鄭慕智博士(主席) 鄭毓和先生 許榮泉先生 馬灣銘模 Msc (Econ), BA (Hons), CPA (Canada), CA, 鄭毓和先 ...

EXPLORE BEYOND BOUNDARIES 超越地域 尋找更佳機遇 F 高瞻遠矚 — 透徹全面的視野 為我們展現商機處處 O | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | R | | | | | | | | | | | | | | | | | | | | E S | | | | | | | | | | G | | A CLEAR FULL VIEW HELPS IDENTIFY OPPORTUNITIES | | | | | | | | H T E | | | | | | | | | | D | | | | | | | | | | | | | | | | | | | | | 優質品牌 — 優質樓盤 ...

廖創興企業有限公司 Liu Chong Hing Investment Limited 中 期 報 告 股份代號：00194 廖創興企業有限公司 二零二零年中期報告 | --- | --- | |------------------------------------------------------|---------------------| | | | | 董事會 | 審核委員會 | | | 鄭毓和先生 （主席） | | 執行董事 | 鄭慕智博士 | | 廖烈智先生 （主席、董事總經理兼行政總裁） | 區錦源先生 | | 廖金輝先生 （副董事總經理） | 唐晉森先生 | | 李偉雄先生 | 李偉雄先生 （秘書） | | 非執行董事 | 提名委員會 | | 許榮泉先生 | 廖烈智先生 （主席） | | BES. M. Arch, HKIA, RIBA, ARAIA, MRAIC, | 許榮泉先生 | | Assoc. AIA, Registered Architect, | 鄭毓和先生 | | | | | A.P. (Architect), MHKIoD | 區錦源先生 | | | | | | 馬鴻銘博 ...

Financial Performance - Profit for the year attributable to owners of the Company was HK$429,984,000 in 2019, a decrease of 57.6% compared to HK$1,014,267,000 in 2018[7]. - Basic earnings per share decreased to HK$1.14 in 2019 from HK$2.68 in 2018, reflecting a decline of 57.5%[7]. - The Group recorded a profit of HK$446.5 million for the year ended 31 December 2019, representing a decrease of 57% compared to 2018[29]. - Revenue for 2019 was HK$1,276.5 million, down 30% from HK$1,836.2 million in 2018[89]. - The dividend per share for 2019 was HK$0.60, a decrease of 14% from HK$0.70 in 2018[89]. - The dividend payout ratio for 2018 was 53%, indicating a significant reduction in dividends in 2019[89]. Assets and Liabilities - Total assets increased to HK$14,885,044,000 in 2019, up from HK$14,513,521,000 in 2018, representing a growth of 2.57%[7]. - Total liabilities amounted to HK$2,414,824,000 in 2019, an increase from HK$2,116,453,000 in 2018, marking a rise of 14.1%[7]. - Total net assets increased to HK$12,470,220,000 in 2019, compared to HK$12,397,068,000 in 2018, showing a slight growth of 0.59%[7]. - The company reported a total net asset value per share of HK$32.94 in 2019, up from HK$32.75 in 2018[7]. Market and Economic Conditions - The overall economic environment in 2019 posed challenges, but the company remains optimistic about future growth opportunities[13]. - In 2019, the global economic growth was 2.9%, down from 3.7% in 2018, marking the lowest level since 2008-2009[15]. - The US economy achieved a growth of 2.3% in 2019, which was 0.6% lower compared to 2018, representing the tenth consecutive year of growth since the financial crisis[15]. - The Eurozone's growth rate was around 1.1% in 2019, a decline from 2.4% in 2017, indicating a trend towards stagnation[20]. - Hong Kong's real GDP fell by 1.2% in 2019, marking the first annual decline since 2009, largely due to social unrest affecting tourism and consumer business[25]. Strategic Initiatives - The company is focused on strategic investments to enhance its market position and profitability in the coming years[6]. - The company plans to explore new market expansions and product developments to drive future revenue growth[6]. - The Group plans to generate an additional HK$1.3 billion from the sale of remaining residential units, car parks, and shops in the future[29]. - The management has scheduled to commence construction of the "Elegance Garden" project in Q4 2020, which has a total GFA of 139,515 sq.m.[30]. Rental and Property Management - Gross rental revenue for the year was approximately HK$355 million, a slight decrease of 0.2% from HK$355.7 million in 2018[95]. - The overall occupancy rate of major investment properties was maintained at 78.1% as of December 31, 2019[95]. - Rental revenue from Chong Hing Square was approximately HK$113.7 million, slightly down from HK$113.9 million in 2018, with an occupancy rate of 92%[95]. - The rental revenue from Chong Hing Finance Center in Shanghai was approximately HK$127.7 million, representing a decrease of 9.6% due to increased competition and oversupply in the market[108]. Shareholding and Governance - As of December 31, 2019, Mr. Liu Lit Chi holds a total of 201,307,000 shares, representing approximately 53.17% of the issued share capital of the company[50]. - The top 10 largest shareholders held a total of 358,990,935 shares, representing 94.82% of the Company's issued share capital as of December 31, 2019[61]. - The Company has not received any notifications of other shareholders holding 5% or more of the shares as of December 31, 2019, apart from the disclosed interests[54]. - The Company has established various committees, including the Audit Committee and Nomination Committee, to ensure effective governance[138]. Risk Management and Internal Controls - The Company is committed to safeguarding its assets and preventing fraud through proper accounting records and internal controls[65]. - The Audit Committee is responsible for overseeing the relationship with external auditors and reviewing the company's interim and annual financial statements[159]. - The company has established a sound internal control system to safeguard shareholder interests and protect its assets[160]. - The management actively monitors interest rate movements to minimize potential negative impacts on the Group's financial position[123]. Corporate Social Responsibility and ESG - The Group is committed to integrating corporate social responsibility into its corporate ethos while promoting initiatives that benefit the environment, staff, and community[199]. - The ESG report is prepared in accordance with the "Environmental, Social and Governance Reporting Guide" as set out in Appendix 27 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[199]. - The reporting period for the ESG report is from January 1, 2019, to December 31, 2019[199].

2INTERIM REPORT 019 廖創興企業有限公司 Liu Chong Hing Investment Limited INTERIM REPORT 2019 股份代號 : 00194 中期報告 STOCK CODE : 00194 2019中期報告 廖創興企業有限公司 =零一九年中期報告 董事曾 審核委員會 鄭毓和先生(主席) 鄭慕智博士 執行董事 廖烈智先生(主席、董事總經理兼行政總裁) 區錦源先生 應金輝先生(副董事總經理) 唐晉森先生 廖坤城先生(亦為廖烈忠醫生之替代董事) 李偉雄先生(秘書) 李偉雄先生 提名委員會 非執行董事 廖烈智先生(主席) 廖烈忠醫生 許榮泉先生 MBBS (Lon), MRCP (UK), F.R.C.P.(Lon) 鄭毓和先生 (於二零一九年七月十一日逝世) 區錦源先生 許榮泉先生 出望銘赏 BES. M. Arch, HKIA, RIBA, ARAIA, MRAIC, 唐晉森先生 Assoc. AIA, Registered Architect, 李偉雄先生(秘書) A.P. (Architect), MHKloD 獨立非執行董事 薪酬委員會 鄭慕智博士 鄭慕智 ...

Liu Chong Hing Investment Limited DIVERSIFY FOR A PROMISING FUTURE 多元發展 創建更豐盛未來 I I I IIII a a a ..... Annual Report 2018 年 報 | --- | --- | --- | |-------|-------------------------------------------------------------------------------|-------------------------------| | | Financial Highlight s | 財 務摘要 | | 04 | Five-Year Financial Summary | 五年財務摘要 | | 05 | Five-Year Financial Highlights Charts | 五年財務摘要圖表 | | Bu s | ss R v w and C Go v ernance | 業 務回顧及公司管治 | | 06 | Chairman's Statement | 主席報告書 | | 18 | Directo ...