智通财经APP讯，廖创兴企业(00194)发布公告，将于2025年9月12日派发截至2025年6月30日止六个月的 中期股息每股0.11港元。 ...

Group 1 - The company reported a revenue of HKD 552 million for the six months ending June 30, 2025, compared to HKD 364 million in the same period last year [1] - The company achieved a profit of HKD 13.72 million, a significant turnaround from a loss of HKD 418 million in the previous year [1] - The board of directors declared an interim cash dividend of HKD 0.11 per share for 2025, consistent with the dividend of HKD 0.11 per share declared for 2024 [1]

Group 1 - The company reported a revenue of HKD 552 million for the six months ending June 30, 2025, representing a year-on-year increase of 51.76% [1] - The profit attributable to shareholders was HKD 16.6 million, a significant turnaround from a loss of HKD 417 million in the same period last year [1] - Basic earnings per share were HKD 0.04, and the company proposed an interim dividend of HKD 0.11 per share [1] Group 2 - The unaudited consolidated profit for the group was approximately HKD 13.7 million, compared to a loss of about HKD 418.5 million in the previous year, marking an increase of approximately HKD 432.2 million [1] - The improvement in performance was primarily driven by a reduction in fair value losses on investment properties and an increase in the performance of associated companies [1]

廖创兴企业(00194)发布截至2025年6月30日止6个月中期业绩，该集团取得收益5.52亿港元，同比增加 51.76%;公司股东应占溢利1660万港元，去年同期则亏损4.17亿港元;每股基本盈利0.04港元，拟派发中 期股息每股0.11港元。 公告称，截至2025年6月30日止期间，本集团的未经审核综合溢利约1370万元，较去年同期亏损约4.185 亿元，增加约4.322亿元。这项变动主要来自于投资物业公平价值亏损减少，以及所占合营企业业绩增 加。 ...

EF001 免責聲明 | 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告的內容概不負責，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 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 廖創興企業有限公司 | | 股份代號 | 00194 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年六月三十日止六個月之中期股息 | | 公告日期 | 2025年8月7日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.11 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.11 HKD | | 匯率 | 1 HKD : 1 HKD | ...

Company Information and Announcements [Company Profile and Interim Results Announcement](index=1&type=section&id=Company%20Profile%20and%20Interim%20Results%20Announcement) The Board of Directors of Liu Chong Hing Investment Limited (Stock Code: 00194) announces the unaudited interim results of the Company and its subsidiaries for the six months ended June 30, 2025 - Company name: Liu Chong Hing Investment Limited, Stock Code: **00194**[2](index=2&type=chunk) - The announcement covers the unaudited interim results for the six months ended June 30, 2025[2](index=2&type=chunk) Condensed Consolidated Financial Statements [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group achieved significant performance improvement for the six months ended June 30, 2025, turning a substantial loss in the prior period into a profit, driven by revenue growth and enhanced comprehensive income Key Data from Condensed Consolidated Statement of Profit or Loss (Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 551,917 | 363,686 | | Direct costs | (266,177) | (126,828) | | Administrative and operating expenses | (216,029) | (171,639) | | Other losses and gains | (66,309) | (362,123) | | Finance costs | (70,966) | (98,229) | | Share of results of joint ventures | 65,059 | (47,052) | | Profit (Loss) before tax | 1,637 | (439,061) | | Income tax credit | 12,080 | 20,575 | | Profit (Loss) for the period | 13,717 | (418,486) | | Profit (Loss) attributable to owners of the Company | 16,600 | (416,720) | | Profit (Loss) attributable to non-controlling interests | (2,883) | (1,766) | Key Data from Condensed Consolidated Statement of Other Comprehensive Income (Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Profit (Loss) for the period | 13,717 | (418,486) | | Fair value loss on equity instruments at fair value through other comprehensive income | (5,894) | (2,633) | | Exchange differences arising from translation of overseas operations | 78,600 | (45,154) | | Share of other comprehensive income (after tax) of joint ventures | 4,406 | (1,464) | | Other comprehensive income (expense) for the period (after tax) | 77,112 | (49,251) | | Total comprehensive income (expense) for the period | 90,829 | (467,737) | | Total comprehensive income (expense) attributable to owners of the Company | 84,898 | (464,725) | | Total comprehensive income (expense) attributable to non-controlling interests | 5,931 | (3,012) | - Profit for the period significantly improved from a loss of **HK$418,486 thousand** in 2024 to a profit of **HK$13,717 thousand** in 2025[3](index=3&type=chunk)[5](index=5&type=chunk) - Total comprehensive income shifted from an expense of **HK$467,737 thousand** in 2024 to an income of **HK$90,829 thousand** in 2025[5](index=5&type=chunk) [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's financial position remained stable, with slight increases in total assets and equity, and a reduction in current liabilities Key Data from Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Non-current assets** | | | | Investment properties | 9,812,953 | 9,828,109 | | Property, plant and equipment | 660,261 | 653,163 | | Investments in joint ventures | 578,934 | 534,545 | | Total non-current assets | 11,332,516 | 11,313,017 | | **Current assets** | | | | Properties under development for sale | 465,444 | 462,177 | | Properties held for sale | 465,950 | 644,947 | | Bank balances and cash | 1,919,202 | 2,034,271 | | Total current assets | 3,333,765 | 3,578,557 | | **Current liabilities** | | | | Trade and other payables | 363,391 | 442,744 | | Borrowings—due within one year | 1,134,514 | 1,225,123 | | Total current liabilities | 1,635,901 | 1,862,116 | | **Non-current liabilities** | | | | Borrowings—due after one year | 2,132,870 | 2,136,444 | | Total non-current liabilities | 2,466,296 | 2,491,844 | | **Equity and reserves** | | | | Equity attributable to owners of the Company | 10,527,063 | 10,506,524 | | Non-controlling interests | 37,021 | 31,090 | | Total equity | 10,564,084 | 10,537,614 | - Total assets less current liabilities slightly increased from **HK$13,029,458 thousand** as of December 31, 2024, to **HK$13,030,380 thousand** as of June 30, 2025[6](index=6&type=chunk) - Net current assets slightly decreased from **HK$1,716,441 thousand** as of December 31, 2024, to **HK$1,697,864 thousand** as of June 30, 2025[6](index=6&type=chunk) - Equity attributable to owners of the Company increased from **HK$10,506,524 thousand** as of December 31, 2024, to **HK$10,527,063 thousand** as of June 30, 2025[7](index=7&type=chunk) Notes to the Condensed Consolidated Financial Statements [Basis of Preparation and Accounting Policies](index=5&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) The condensed consolidated financial statements are prepared in accordance with HKAS 34 and the HKEX Listing Rules, presented in HK$. Accounting policies and methods remain consistent with the prior year, with no significant impact from new HKFRS amendments - The financial statements are prepared in accordance with HKAS 34 and the Listing Rules, with the functional currency being **HK$**[8](index=8&type=chunk)[9](index=9&type=chunk) - Accounting policies for the current period are consistent with the prior year, and new HKFRS amendments (e.g., HKAS 21 amendments) have no significant impact on financial performance or position[10](index=10&type=chunk)[11](index=11&type=chunk) [Segment Information](index=6&type=section&id=Segment%20Information) The Group's operations are divided into six reportable segments: property investment, property development, property management, financial investments, trading and manufacturing, and hotel operations. For the six months ended June 30, 2025, property development and financial investments segments saw significant revenue and profit growth, while property investment recorded a loss due to fair value changes - The Group's six reportable segments are: property investment, property development, property management, financial investments, trading and manufacturing, and hotel operations[13](index=13&type=chunk) Segment Revenue and Profit (Loss) Analysis (Six Months Ended June 30) | Segment | 2025 Revenue (HK$ thousand) | 2025 Segment Profit (Loss) (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2024 Segment Profit (Loss) (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Property investment | 159,952 | (5,477) | 156,099 | (258,753) | | Property development | 215,096 | (31,480) | 8,978 | (16,074) | | Property management | 24,412 | 4,881 | 24,278 | 7,334 | | Financial investments | 42,735 | 35,746 | 38,148 | (6,517) | | Trading and manufacturing | 40,179 | 2,631 | 43,637 | 2,821 | | Hotel operations | 77,795 | 1,243 | 101,271 | (22,591) | | Total segments | 560,169 | 7,544 | 372,411 | (293,780) | - Property development segment revenue significantly increased from **HK$8,978 thousand** in 2024 to **HK$215,096 thousand** in 2025[15](index=15&type=chunk)[16](index=16&type=chunk) - Financial investments segment shifted from a loss of **HK$6,517 thousand** in 2024 to a profit of **HK$35,746 thousand** in 2025[15](index=15&type=chunk)[16](index=16&type=chunk) - Fair value loss on property investment segment significantly decreased from **HK$334,301 thousand** in 2024 to **HK$77,320 thousand** in 2025[15](index=15&type=chunk)[16](index=16&type=chunk) [Income Tax Credit](index=8&type=section&id=Income%20Tax%20Credit) Total income tax credit for the period was HK$12,080 thousand, a decrease from the prior period, mainly due to reduced deferred tax credits. Hong Kong profits tax is 16.5%, China corporate income tax is 25%, and UK statutory tax rate is 25% Income Tax Credit (Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong profits tax for the period | 3,313 | 3,350 | | China corporate income tax | 920 | 339 | | UK corporation tax | – | 1,207 | | Over-provision in prior years: Hong Kong profits tax | (6) | (3) | | China land appreciation tax | 3,682 | 630 | | Deferred tax | (19,989) | (26,098) | | Total income tax credit | (12,080) | (20,575) | - Total income tax credit decreased from **HK$20,575 thousand** in 2024 to **HK$12,080 thousand** in 2025[18](index=18&type=chunk) - Hong Kong profits tax is calculated at **16.5%**, China corporate income tax rate is **25%**, and the UK statutory tax rate is **25%**[18](index=18&type=chunk) [Basic Earnings (Loss) Per Share](index=10&type=section&id=Basic%20Earnings%20(Loss)%20Per%20Share) For the six months ended June 30, 2025, basic earnings per share attributable to owners of the Company was HK$0.04, a significant improvement from a loss of HK$1.10 per share in the prior period. The number of ordinary shares outstanding remained unchanged, with no potential ordinary shares, thus no diluted EPS was presented Basic Earnings (Loss) Per Share | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Profit (Loss) attributable to owners of the Company | HK$16,600,000 | HK$(416,720,000) | | Number of ordinary shares outstanding | 378,583,440 shares | 378,583,440 shares | | Basic earnings (loss) per share | HK$0.04 | HK$(1.10) | - Basic earnings per share improved from a loss of **HK$1.10** in 2024 to a profit of **HK$0.04** in 2025[3](index=3&type=chunk)[19](index=19&type=chunk) - No potential ordinary shares existed in either period, thus no diluted earnings per share was presented[20](index=20&type=chunk) [Dividends](index=10&type=section&id=Dividends) The Company recognized and paid a final dividend of HK$0.17 per share for 2024 and declared an interim dividend of HK$0.11 per share for 2025, consistent with the prior period Dividends Declared and Payable (Six Months Ended June 30) | Dividend Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Final dividend declared and paid for 2024 (HK$0.17 per share) | 64,359 | 64,359 | | Interim dividend declared for 2025 (HK$0.11 per share) | 41,644 | 41,644 | - The Board has approved an interim cash dividend of **HK$0.11** per share, payable on September 12, 2025[22](index=22&type=chunk)[27](index=27&type=chunk) - Share transfer registration will be suspended from September 2 to September 4, 2025[28](index=28&type=chunk) [Trade and Other Receivables](index=11&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, the Group's total trade and other receivables amounted to HK$226,015 thousand, with HK$196,022 thousand classified as current. The aging analysis of trade receivables indicates most are due within 90 days Trade and Other Receivables (As of June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade receivables | 27,690 | 34,115 | | Lease receivables | 7,871 | 4,902 | | Deposits paid | 4,237 | 5,271 | | Prepayments and other receivables | 134,856 | 126,993 | | Value-added tax recoverable | 51,361 | 50,053 | | Total | 226,015 | 221,334 | | Current portion | 196,022 | 194,098 | | Non-current portion | 29,993 | 27,236 | Aging Analysis of Trade and Lease Receivables (As of June 30) | Aging | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 14,366 | 13,445 | | 31 to 90 days | 15,886 | 17,086 | | Over 90 days | 5,309 | 8,486 | | Total | 35,561 | 39,017 | - The average credit period granted to trade customers or tenants is **30-90 days**[23](index=23&type=chunk) [Trade and Other Payables](index=12&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, the Group's total trade and other payables were HK$456,624 thousand, with current liabilities amounting to HK$363,391 thousand. The aging analysis of trade payables shows all amounts are due within 30 days Trade and Other Payables (As of June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade payables | 8,810 | 9,158 | | Construction costs payable and retention money | 82,358 | 143,607 | | Deposits received for investment properties | 118,908 | 121,321 | | Rental received in advance | 8,502 | 9,351 | | Deposits received | 148,486 | 147,444 | | Other payables | 89,560 | 107,016 | | Total | 456,624 | 537,897 | | Less: Current liabilities due within twelve months | (363,391) | (442,744) | | Non-current liabilities due after twelve months | 93,233 | 95,153 | Aging Analysis of Trade Payables (As of June 30) | Aging | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 8,810 | 9,158 | - Construction costs payable and retention money decreased from **HK$143,607 thousand** in 2024 to **HK$82,358 thousand** in 2025[25](index=25&type=chunk) Management Discussion and Analysis [Overall Performance Review](index=13&type=section&id=Overall%20Performance%20Review) The Group achieved significant performance improvement for the period ended June 30, 2025, shifting from a loss of approximately HK$418.5 million in the prior period to a profit of approximately HK$13.7 million, primarily due to reduced fair value losses on investment properties and increased share of results of joint ventures - The Group's unaudited consolidated profit was approximately **HK$13.7 million**, an increase of approximately **HK$432.2 million** compared to a loss of approximately **HK$418.5 million** in the prior period[29](index=29&type=chunk) - The performance change primarily resulted from reduced fair value losses on investment properties and an increased share of results of joint ventures[29](index=29&type=chunk) - Revenue primarily derived from property investment, property development, property management, financial investments, trading and manufacturing, and hotel operations[29](index=29&type=chunk) [Property Investment](index=13&type=section&id=Property%20Investment) The Group's property investment portfolio performed steadily during the reporting period, with overall rental income growing by 3% to HK$159.1 million. Hong Kong properties showed mixed performance, China Shanghai property rental income decreased, while UK London property rental income increased - Overall gross rental income was approximately **HK$159.1 million**, an increase of approximately **HK$4.1 million** (3%) compared to the prior period[32](index=32&type=chunk) - The overall occupancy rate of major investment properties remained at **83.6%**[33](index=33&type=chunk) [Overall Rental Income and Occupancy Rate](index=13&type=section&id=Overall%20Rental%20Income%20and%20Occupancy%20Rate) For the period ended June 30, 2025, the Group recorded gross rental income of approximately HK$159.1 million, a 3% year-on-year increase, with an overall occupancy rate maintained at 83.6% - Gross rental income was approximately **HK$159.1 million**, a year-on-year increase of **3%**[32](index=32&type=chunk) - Overall occupancy rate remained at **83.6%**[33](index=33&type=chunk) [Hong Kong Property Investment](index=14&type=section&id=Hong%20Kong%20Property%20Investment) Hong Kong's major investment properties showed mixed performance: Chong Hing Square rental income grew 3.8% with 100% occupancy; Chong Hing Bank Centre rental income decreased 7.8% due to renewal rent adjustments; Sheung Wan Square rental income decreased 16% but achieved 89% occupancy; Fook Wai Court rental income grew 25% with 100% occupancy; and the hotel property at 181-183 Connaught Road West secured a new ten-year lease, generating HK$13.2 million in rental income Rental Income of Major Hong Kong Properties (Six Months Ended June 30) | Property Name | 2025 Rental Income (HK$ thousand) | 2024 Rental Income (HK$ thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Chong Hing Square | 30,400 | 29,300 | +3.8% | | Chong Hing Bank Centre | 36,500 | 39,600 | -7.8% | | Sheung Wan Square | 6,800 | 8,100 | -16.0% | | Fook Wai Court | 2,000 | 1,600 | +25.0% | | 181-183 Connaught Road West | 13,200 | N/A | New | - Chong Hing Square achieved **100%** occupancy[34](index=34&type=chunk) - Sheung Wan Square shopping arcade occupancy rate was **89%**, with all car park spaces leased out[36](index=36&type=chunk) - Fook Wai Court property achieved **100%** occupancy[37](index=37&type=chunk) - The property at 181-183 Connaught Road West has entered into a ten-year hotel lease agreement with an associate of Guangdong Yuehai Holdings Limited[38](index=38&type=chunk) [China Property Investment](index=15&type=section&id=China%20Property%20Investment) Shanghai Chong Hing Financial Centre recorded rental income of approximately HK$50.8 million, a 12% year-on-year decrease, with office occupancy at approximately 75% and retail occupancy at 83%. Management is implementing strategies to address abundant office supply and slow economic recovery - Shanghai Chong Hing Financial Centre rental income was approximately **HK$50.8 million**, a year-on-year decrease of **12%**[39](index=39&type=chunk) - Office occupancy rate was approximately **75%**, and retail unit occupancy rate was **83%**[39](index=39&type=chunk) - Management has implemented various strategies to retain existing and attract potential tenants, aiming to improve occupancy and rental income[39](index=39&type=chunk) [UK Property Investment](index=16&type=section&id=UK%20Property%20Investment) Barratt House on Oxford Street, London, recorded rental income of approximately HK$13 million, an increase of approximately HK$0.6 million year-on-year, with an occupancy rate of 86% - Barratt House rental income was approximately **HK$13 million**, a year-on-year increase of approximately **HK$0.6 million**[40](index=40&type=chunk) - The property's occupancy rate was **86%**[40](index=40&type=chunk) [Property Development](index=16&type=section&id=Property%20Development) The Group's property development business achieved strong growth during the reporting period, with a significant increase in sales revenue, primarily driven by new project recognition in China. The Thailand hotel property also performed well, exceeding budget for revenue and operating profit - The Group recorded sales revenue of approximately **HK$215.1 million**, a **2,290%** increase compared to the prior period[41](index=41&type=chunk) - The significant increase in sales revenue was primarily due to new sales recognized from Sanshui Xuanlong Yayuan[41](index=41&type=chunk) [China Property Development](index=16&type=section&id=China%20Property%20Development) China property development sales revenue surged by 2,290% to HK$215.1 million, primarily driven by new sales contributions from Sanshui Xuanlong Yayuan. Both residential units and parking spaces sold at Foshan Cuihu Green Oasis Garden increased, with cumulative sales revenue reaching HK$6 billion - China property sales revenue was approximately **HK$215.1 million**, a year-on-year increase of **2,290%**[41](index=41&type=chunk) - The number of residential units recognized from Foshan Cuihu Green Oasis Garden sales increased from **3** in 2024 to **6** in 2025, and parking spaces sold increased from **18** to **140**[44](index=44&type=chunk) - As of June 30, 2025, Foshan Cuihu Green Oasis Garden had sold all **5,264** residential units (**100%**) and **2,457** out of **4,670** parking spaces (**53%**), with cumulative sales revenue of approximately **HK$6 billion**[45](index=45&type=chunk) - Sanshui Xuanlong Yayuan had launched **600** residential units for sale, with **483** units (**81%**) sold as of June 30, 2025, generating total sales revenue of approximately **RMB497.2 million**[48](index=48&type=chunk) [Thailand Hotel Property Investment](index=18&type=section&id=Thailand%20Hotel%20Property%20Investment) Kimpton Kitalay Samui in Koh Samui, Thailand, recorded total revenue of approximately HK$72.3 million, a 23.8% year-on-year increase, with EBITDA of approximately HK$24.7 million, exceeding budget, driven by marketing activities and enhanced customer experience - Kimpton Kitalay Samui hotel total revenue was approximately **HK$72.3 million**, a year-on-year increase of approximately **HK$13.9 million** (**23.8%**)[51](index=51&type=chunk) - Earnings before interest, tax, depreciation, and amortization (EBITDA) was approximately **HK$24.7 million**, exceeding budget[51](index=51&type=chunk) - The hotel's success is attributed to InterContinental Hotels Group's marketing activities and enhanced guest experience, making it the highest-rated Kimpton hotel in Asia Pacific[51](index=51&type=chunk) [Share of Results of Joint Ventures](index=18&type=section&id=Share%20of%20Results%20of%20Joint%20Ventures) Share of results of joint ventures shifted from a loss of approximately HK$47.1 million in 2024 to a profit of approximately HK$65.1 million in 2025, primarily due to the successful disposal of warehouses in Japan and partial beneficial interests in an Australian property trust - Share of results of joint ventures improved from a loss of approximately **HK$47.1 million** in 2024 to a profit of approximately **HK$65.1 million** in 2025[53](index=53&type=chunk) - The turnaround to profit was primarily due to the disposal of warehouses in Japan (including Hokkaido, Higashimatsuyama, and Hadano) and partial beneficial interests in an Australian property trust[52](index=52&type=chunk)[53](index=53&type=chunk) - The disposal of the Japanese property portfolio generated total proceeds of **JPY9.66 billion** (approximately **HK$511 million**)[52](index=52&type=chunk) [Outlook](index=19&type=section&id=Outlook) Management acknowledges the challenging global economic environment and will maintain a cautious and disciplined strategy, focusing on operational resilience, risk management, and long-term value creation to strengthen the Group's competitive position in future recovery - The global economic environment remains challenging, despite some interest rate reductions[54](index=54&type=chunk) - Management will maintain a cautious and disciplined strategy, focusing on operational resilience, risk management, and long-term value creation[54](index=54&type=chunk) Corporate Governance and Other Information [Compliance with Corporate Governance Code](index=19&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The Company generally complied with Appendix C1 of the Listing Rules' Corporate Governance Code during the review period, though the roles of Chairman and Chief Executive were not segregated. The Board believes this arrangement is in the Company's best interest, given Mr. Liu Lit Chi's extensive experience in the property and banking sectors - The Company generally complied with the Corporate Governance Code, but the roles of Chairman and Chief Executive were not segregated[55](index=55&type=chunk)[56](index=56&type=chunk) - The Board believes Mr. Liu Lit Chi's dual role as Chairman and Chief Executive is in the Company's best interest, given his extensive market experience[56](index=56&type=chunk) [Changes in Directors' Information and Standard Securities Dealing Code](index=19&type=section&id=Changes%20in%20Directors'%20Information%20and%20Standard%20Securities%20Dealing%20Code) Dr. Cheng Mo Chi, an Independent Non-executive Director, was appointed Chairman of the Hong Kong Maritime and Port Board. All Directors confirmed compliance with the Standard Securities Dealing Code for Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules - Independent Non-executive Director Dr. Cheng Mo Chi was appointed Chairman of the Hong Kong Maritime and Port Board on July 1, 2025[57](index=57&type=chunk) - All Directors confirmed compliance with the Standard Securities Dealing Code for Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[58](index=58&type=chunk) [Purchase, Sale or Redemption of Shares](index=20&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Shares) For the six months ended June 30, 2025, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's shares - Neither the Company nor its subsidiaries conducted any purchase, sale, or redemption of shares during the reporting period[59](index=59&type=chunk) [Review of Unaudited Interim Financial Report](index=20&type=section&id=Review%20of%20Unaudited%20Interim%20Financial%20Report) The Audit Committee reviewed the Group's accounting policies and standards, and discussed audit, internal controls, and financial reporting. The Company's auditor, Deloitte Touche Tohmatsu, reviewed the condensed consolidated financial statements in accordance with HKSRE 2410 and issued an unmodified review report - The Audit Committee reviewed the Group's accounting policies, standards, audit, internal controls, and financial reporting[60](index=60&type=chunk) - The Company's auditor, Deloitte Touche Tohmatsu, issued an unmodified review report[60](index=60&type=chunk) [Results Announcement and Board of Directors](index=20&type=section&id=Results%20Announcement%20and%20Board%20of%20Directors) The results announcement has been published on the HKEXnews website and the Company's website, with the interim results report to be dispatched to shareholders on August 29, 2025. The announcement lists the Board of Directors as of the announcement date - The results announcement has been published on the HKEXnews website (www.hkexnews.hk) and the Company's website (www.lchi.com.hk)[61](index=61&type=chunk) - The Company's 2025 interim results report will be dispatched to shareholders on August 29, 2025[61](index=61&type=chunk) - The Board of Directors includes Executive Director Mr. Liu Lit Chi (Chairman and Chief Executive), Non-executive Director Mr. Hui Wing Chuen, and Independent Non-executive Directors Dr. Cheng Mo Chi, among others[62](index=62&type=chunk)

Financial Performance - The profit attributable to owners of the Company for 2023 was a loss of HK$814,937, compared to a profit of HK$86,148 in 2022[9]. - Basic loss per share for 2023 was HK$(2.15), a decline from HK$0.23 in 2022[9]. - The Group recorded a loss of HK$840.4 million for the year ended December 31, 2024, an improvement from a loss of HK$873.1 million in 2023, primarily due to non-cash fair value losses on investment properties[54]. - For the year ended December 31, 2024, the Group recorded a loss of approximately HK$840.4 million, a slight improvement from a loss of HK$873.1 million in the previous year, primarily due to fair value losses on investment properties[56]. - Basic losses per share for 2024 were HK$2.21, compared to HK$2.15 in 2023, reflecting a 3% increase[178]. - For the year ended December 31, 2024, the audited consolidated losses amounted to approximately HK$840.4 million, a reduction of HK$32.7 million compared to the HK$873.1 million loss recorded in 2023[181]. Dividends - The dividend per share for 2023 was HK$0.28, down from HK$0.38 in 2022, with a dividend payout ratio of -13%[9]. - An interim cash dividend of HK$0.11 per share was paid on 13 September 2024, with a recommended final cash dividend of HK$0.17 per share, totaling HK$0.28 per share for the year[83]. - The total dividend per share remained unchanged at HK$0.28, with a dividend payout ratio of 13%[178]. Assets and Liabilities - Total assets for 2023 were HK$14,997,714, a decrease of 5.3% from 2022[9]. - Total liabilities increased to HK$3,393,130 in 2023, up 6.9% from the previous year[9]. - The net asset value per share decreased to HK$27.83 from HK$30.65, a decline of 9%[178]. Revenue and Occupancy - Revenue for 2024 was HK$933,029,000, representing a 27% increase from HK$732,311,000 in 2023[178]. - Total rent received by the Group amounted to HK$302.4 million, a slight increase of 0.1% compared to HK$302.1 million in 2023, with an overall occupancy rate of 83.5%[58]. - The overall occupancy rate of major investment properties was maintained at 83.5% as of 31 December 2024[187]. - Chong Hing Square generated gross rental revenue of approximately HK$59.7 million for the year ended 31 December 2024, an increase of approximately HK$3.1 million from approximately HK$56.6 million in 2023, with an occupancy rate of 96%[188]. - Chong Hing Bank Centre recorded rental revenue of approximately HK$77.9 million for the year ended 31 December 2024, a decrease of approximately HK$19.2 million from approximately HK$97.1 million in 2023[190]. - The Rockpool generated gross rental revenue of approximately HK$15.5 million for the year ended 31 December 2024, an increase of approximately HK$2.1 million from approximately HK$13.4 million in 2023, with an occupancy rate of 88%[196]. - Fairview Court recorded rental revenue of approximately HK$2.6 million for the year ended 31 December 2024, a decrease of approximately HK$0.5 million from HK$3.1 million in 2023, with an occupancy rate of 80%[199]. - Chong Hing Finance Center in Shanghai generated rental revenue of approximately HK$108.7 million for the year ended 31 December 2024, an increase of approximately HK$6.2 million from HK$102.5 million in 2023, with office space leased at approximately 75% and retail space at 83%[200]. Economic Outlook - The global economy grew by approximately 3.2% in 2024, driven by lower inflation and increased household spending[26]. - The U.S. economy expanded by 2.8% in 2024, with personal consumption advancing by 4.2%[28]. - The Bank of Japan estimated Japan's real GDP growth for fiscal 2024 at 0.5%[34]. - China announced a GDP growth of 5% for 2024, aligning with its official target, driven by strong exports and effective monetary and fiscal stimulus measures[38]. - The Chinese economy is expected to grow by 5% in 2025, with a focus on increasing domestic demand and technological innovations to counteract U.S. tariffs[63]. - The Hong Kong economy is forecasted to grow by 2%–3%, but faces uncertainties due to the U.S. tariff war potentially impacting exports and local consumption[64]. Corporate Governance - The Company intends to comply with the Corporate Governance Code, ensuring directors are subject to retirement by rotation at least once every three years[102]. - The Company has received annual confirmations of independence from all Independent Non-executive Directors[104]. - The Company has substantially complied with the Corporate Governance Code throughout the year ended 31 December 2024[150]. - The Audit Committee is satisfied with the Company's internal control procedures and financial reporting disclosures for the year ended 31 December 2024[144]. - No major internal control weaknesses were found, and all recommendations from auditors were implemented by management in 2024[162]. Strategic Focus - The Group continues to adapt its business model to ensure sustained growth and market resilience despite challenges[183]. - The Group's investment strategy will focus on absolute bargains in both domestic and international business arenas[67]. - The Group plans to adopt a cautious policy regarding acquisitions and disposals due to prevailing uncertainties in the market[67]. - The management is committed to reviewing operations to maintain a strong financial position[183].

Financial Performance - The company reported total revenue of HKD 933,029,000 for the year ending December 31, 2024, an increase from HKD 732,311,000 in the previous year, representing a growth of approximately 27.4%[3] - Customer contract revenue reached HKD 551,921,000, up from HKD 378,057,000, indicating a growth of about 46% year-over-year[3] - Rental income was HKD 302,363,000, slightly higher than HKD 302,062,000 from the previous year, showing a marginal increase of 0.1%[3] - The company incurred a net loss of HKD 840,358,000 for the year, compared to a loss of HKD 873,087,000 in the prior year, reflecting an improvement of approximately 3.7%[4] - Basic loss per share was HKD 2.21, compared to HKD 2.15 in the previous year, indicating a slight increase in loss per share[3] - The total comprehensive loss for the year was HKD 960,967,000, compared to HKD 938,044,000 in the previous year, showing a slight increase in total comprehensive loss[4] - Total revenue for the year ended December 31, 2024, was HKD 950.286 million, with a net loss before tax of HKD 865.654 million[20] - The financial performance was impacted by a net foreign exchange loss of HKD 30.467 million, further straining the financial results[20] - The group recorded a consolidated loss of approximately HKD 840.4 million for the year ending December 31, 2024, a decrease of about HKD 32.7 million compared to a loss of approximately HKD 873.1 million in 2023[42] Revenue Breakdown - The revenue breakdown includes property investment at HKD 304.444 million, property development at HKD 223.719 million, and hotel operations at HKD 205.817 million[20] - Total revenue for the year ended December 31, 2023, was HKD 732,311,000, with a significant contribution from property investment at HKD 307,022,000[23] - The hotel and dining business in Hong Kong generated total revenue of approximately HKD 83,700,000 for the year ending December 31, 2024, resulting in a net loss of approximately HKD 57,700,000 after accounting for depreciation[70] - For the fiscal year ending December 31, 2024, the hotel recorded total revenue of approximately HKD 121,400,000, an increase of about HKD 25,100,000 compared to HKD 96,300,000 in 2023, resulting in EBITDA of approximately HKD 47,800,000[74] Expenses and Costs - Direct costs amounted to HKD 437,430,000, down from HKD 874,804,000, which is a reduction of about 50%[3] - Administrative and operating expenses increased to HKD 381,822,000 from HKD 332,745,000, representing a rise of approximately 14.7%[3] - Operating expenses totaled HKD 828.258 million, leading to a significant loss in various segments, particularly in property investment with a loss of HKD 578.879 million[20] - The financial cost for the year was reported at HKD 138,495,000, impacting overall profitability[23] Assets and Liabilities - Total assets decreased from HKD 12,641,679 thousand in 2023 to HKD 13,029,458 thousand in 2024, reflecting a decline of approximately 3.1%[6] - Current assets increased from HKD 2,693,394 thousand in 2023 to HKD 3,578,557 thousand in 2024, representing a growth of about 32.8%[6] - Non-current liabilities rose from HKD 11,604,584 thousand in 2023 to HKD 10,537,614 thousand in 2024, indicating a decrease of approximately 9.2%[7] - Total equity increased from HKD 11,185,255 thousand in 2023 to HKD 10,124,989 thousand in 2024, showing a decline of about 9.5%[7] - The company's total liabilities decreased from HKD 2,356,035 thousand in 2023 to HKD 1,862,116 thousand in 2024, representing a decline of approximately 20.9%[7] Investment Properties and Rental Income - The fair value loss from investment properties amounted to HKD 718.148 million, indicating a challenging market environment[20] - The rental income from the Chuang Hing Bank Centre was approximately HKD 77.9 million for the year ending December 31, 2024, a decrease of about HKD 19.2 million from approximately HKD 97.1 million in 2023[52] - The rental income from the Shanghai Chuang Hing Financial Centre was approximately HKD 108.7 million for the year ending December 31, 2024, an increase of about HKD 6.2 million from approximately HKD 102.5 million in 2023[56] - The rental income from the Chuang Hing Plaza was approximately HKD 59.7 million for the year ending December 31, 2024, an increase of about HKD 3.1 million from approximately HKD 56.6 million in 2023[49] - The rental income from the Shek Tong Tsui was approximately HKD 15.5 million for the year ending December 31, 2024, an increase of about HKD 2.1 million from approximately HKD 13.4 million in 2023[53] - The rental income from the Fuhui Pavilion was approximately HKD 2.6 million for the year ending December 31, 2024, a decrease of about HKD 500,000 from approximately HKD 3.1 million in 2023[54] - The overall occupancy rate of the group's main investment properties was 83.5% as of December 31, 2024[48] Future Outlook and Strategic Plans - The company plans to focus on market expansion and new product development in the upcoming fiscal year[2] - The management is confident that the rental income and occupancy rates for the Shanghai property will further improve by 2025, preparing for sustained growth and profitability in the coming years[57] - The management team expresses optimism about the gradual recovery of local consumption and overall business activity, driven by the revival of the retail and real estate markets, as well as a steady increase in Chinese tourists and investors[77] - The company plans to continue its focus on operational efficiency and market expansion[87] Shareholder Engagement and Reporting - The company will send the 2024 annual report, including the board report and financial statements, to shareholders on April 8, 2025[87] - The annual report will be available on the Hong Kong Stock Exchange's website and the company's website on the same date[87] - The company emphasizes the importance of transparency in its communications with shareholders[87] - The report will include details on corporate governance and shareholder meeting announcements[87] - The company aims to enhance shareholder engagement through timely disclosures[87] - The financial performance metrics will be disclosed in the upcoming report[87] - The company is committed to maintaining high standards of financial reporting[87] - The annual report will provide insights into the company's strategic direction and future outlook[87]

Financial Performance - For the six months ended June 30, 2024, the company reported a total revenue of HKD 363,686,000, a decrease of 2.4% compared to HKD 372,584,000 in the same period of 2023[6]. - The company incurred a loss before tax of HKD 439,061,000, compared to a loss of HKD 247,072,000 in the previous year, reflecting a significant increase in losses[6]. - The basic loss per share for the period was HKD 1.10, compared to HKD 0.61 in the same period last year, indicating a worsening financial performance[6]. - The company reported a total comprehensive loss of HKD 467,737,000 for the period, compared to HKD 369,518,000 in the same period last year[7]. - The group reported a net loss of approximately HKD 418.5 million for the six months ended June 30, 2024, an increase of about HKD 191.3 million compared to a loss of HKD 227.2 million in the same period last year, primarily due to fair value losses on investment properties[75]. Revenue Segments - Rental income increased to HKD 155,005,000, up 6.5% from HKD 145,745,000 in the previous year, showing growth in this segment[6]. - The revenue from property management for the six months ended June 30, 2024, was HKD 16,794,000, compared to HKD 14,034,000 in the previous year, reflecting a growth of 19.7%[20]. - The revenue from trade and manufacturing was HKD 43,637,000, an increase from HKD 36,030,000 in the previous year, marking a growth of 21.2%[20]. - Total gross rental income for the six months ended June 30, 2024, was approximately HKD 155 million, an increase of about HKD 9.3 million or 6.4% compared to approximately HKD 145.7 million in the same period last year[76]. - The hotel and dining business at the ONE-EIGHT-ONE hotel generated total revenue of approximately HKD 42,400,000 for the period ending June 30, 2024, an increase of about HKD 5,000,000 from HKD 37,400,000 in 2023[90]. Cash Flow and Financing Activities - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 84,290,000, an increase of 47.5% compared to HKD 57,181,000 for the same period in 2023[14]. - The company reported a net cash inflow from financing activities of HKD 881,277,000, significantly up from HKD 216,214,000 in the prior period, indicating a strong increase in borrowing[14]. - The company made new borrowings of HKD 1,297,000,000 during the period, compared to HKD 377,834,000 in the same period last year, indicating a substantial increase in financing activities[14]. - The company repaid bank loans of approximately HKD 261,421,000 during the period, compared to HKD 26,665,000 in the same period last year, showing a substantial increase in repayment activities[52]. Assets and Liabilities - Non-current assets decreased from HKD 12,304,320 thousand to HKD 11,774,826 thousand, a decline of approximately 4.3%[8]. - Current assets increased significantly from HKD 2,693,394 thousand to HKD 3,698,799 thousand, representing a growth of about 37.2%[8]. - Total liabilities rose from HKD 2,356,035 thousand to HKD 2,590,999 thousand, an increase of approximately 10%[8]. - The total equity attributable to shareholders decreased from HKD 11,566,790 thousand to HKD 11,037,706 thousand, a decline of approximately 4.6%[9]. - The company's borrowings due after one year increased significantly from HKD 628,783 thousand to HKD 1,432,834 thousand, an increase of about 128%[9]. Operational Efficiency and Cost Management - Direct costs decreased to HKD 126,828,000 from HKD 145,308,000, resulting in improved gross profit margins despite overall revenue decline[6]. - Operating expenses totaled HKD 80,765,000, reflecting the company's cost management efforts[29]. - The total operating expenses for the period were HKD 301,908,000, with significant contributions from property management and development sectors[32]. Future Outlook and Strategic Focus - The company continues to focus on expanding its rental income and managing operational costs to improve financial performance in the future[6]. - The company is focusing on expanding its property investment and development segments, with a new property investment classification in the UK[24]. - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams[24]. - The management remains cautiously optimistic about the gradual recovery of the Hong Kong market despite ongoing economic challenges and high interest rates[94]. Dividend and Shareholder Information - The company declared an interim cash dividend of HKD 0.11 per share, with the ex-dividend date set for August 30, 2024[5]. - The group declared an interim cash dividend of HKD 0.11 per share for 2024, consistent with the previous year[73]. - The interim results announcement for 2024 will be sent to shareholders around August 30, 2024, and will be published on the Hong Kong Stock Exchange and the company's website[104].

Financial Performance - For the six months ending June 30, 2024, the company reported a loss of HKD 418,486,000 compared to a loss of HKD 227,166,000 for the same period in 2023, representing an increase in loss of approximately 84.3%[3] - Total revenue for the six months ending June 30, 2024, was HKD 170,533,000, a decrease from HKD 195,388,000 in the same period of 2023, reflecting a decline of about 12.7%[3] - The company's basic loss per share for the period was HKD (1.10), compared to HKD (0.61) in the previous year, indicating a worsening of performance[3] - The total comprehensive loss for the period was HKD 467,737,000, compared to HKD 369,518,000 in the prior year, marking an increase of approximately 26.6%[4] - The company experienced a pre-tax loss of HKD 439.061 million, indicating challenges in profitability during the reporting period[11] - The basic loss attributable to shareholders was HKD 416,720,000 for the current period, compared to HKD 229,444,000 for the same period last year[18] - The group reported an unaudited consolidated loss of approximately HKD 418.5 million for the period ending June 30, 2024, an increase of approximately HKD 191.3 million compared to a loss of HKD 227.2 million in the same period last year[26] Assets and Liabilities - Non-current assets decreased from HKD 12,304,320,000 as of December 31, 2023, to HKD 11,774,826,000 as of June 30, 2024, a reduction of about 4.3%[5] - Current assets increased from HKD 2,693,394,000 to HKD 3,698,799,000, representing a growth of approximately 37.2%[5] - The company's total liabilities increased from HKD 2,356,035,000 to HKD 2,590,999,000, reflecting an increase of about 10%[5] - The company's equity attributable to shareholders decreased from HKD 11,566,790,000 to HKD 11,037,706,000, a decline of approximately 4.6%[6] Revenue Streams - Total rental income for the group was approximately HKD 155 million, representing an increase of approximately HKD 9.3 million or 6.4% compared to HKD 145.7 million in the same period last year[26] - Customer revenue accounted for HKD 363.686 million, with a notable contribution from various operational segments[13] - Customer revenue reached HKD 145,745,000 for the current period, with significant contributions from various segments[14] - Total revenue for the hotel and dining business reached approximately HKD 42,400,000, an increase of about HKD 5,000,000 compared to HKD 37,400,000 in 2023[39] - Total revenue for the hotel in Thailand was approximately HKD 58,400,000, an increase of about HKD 10,800,000 from HKD 47,600,000 in 2023[41] Investment and Property Management - The company has identified a new property investment segment in the UK, which may enhance future revenue streams[10] - The company’s investment properties were valued at HKD 9,252,459,000 as of June 30, 2024, down from HKD 9,611,370,000 at the end of 2023, a decrease of about 3.7%[5] - The acquisition of Barratt House in London is viewed as a sound investment due to its strategic location and strong tenant mix[32] - The group acquired four logistics centers in Japan, two commercial buildings in Australia, and seven logistics centers in Italy, maintaining an average occupancy rate of about 93%[42] Operational Challenges - Fair value losses on financial assets amounted to HKD 334.301 million, reflecting market volatility and investment challenges[13] - The hotel recorded a net loss of approximately HKD 28,300,000 after accounting for depreciation of about HKD 30,500,000[39] - The economic hotel business in Guangzhou ceased operations on January 11, 2024, with revenue of approximately HKD 300,000 recorded until June 30, 2024[38] - The share of joint venture performance showed a loss of approximately HKD 47,100,000, down from a profit of about HKD 9,100,000 in 2023[42] Strategic Initiatives - The management is focused on strategic expansions and potential acquisitions to drive growth in the upcoming periods[10] - The management has launched a series of new initiatives to retain existing and new tenants in response to the oversupply in the office market[31] - The management remains cautiously optimistic about the gradual recovery of the Hong Kong market, supported by government economic stimulus measures[43] - The company aims to enhance operational efficiency and asset value to improve overall financial performance[43] Dividends and Shareholder Information - The interim dividend declared for the current period is HKD 0.11 per share, consistent with the previous year's interim dividend[19] - The company's mid-year financial report for 2024 will be sent to shareholders on August 30, 2024[49] Accounting and Reporting - The financial policies applied are consistent with those used in the previous annual financial statements, ensuring stability in reporting[8] - The company is adapting to new accounting standards effective from January 1, 2024, which may influence future financial disclosures[9] - The group’s total assets and liabilities were not disclosed as part of the segment reporting, focusing instead on operational performance[15] Miscellaneous - The board of directors includes six executive directors and four independent non-executive directors[50] - The group reported inter-company transactions amounting to HKD 2,117,000, indicating active internal trade[14] - Trade and other receivables totaled HKD 175,787,000, showing an increase from HKD 168,554,000 in the previous year[20] - The group reported a tax expense of HKD 4,896,000, slightly up from HKD 4,796,000 in the previous year[16]