Financial Performance - For the six months ended June 30, 2022, the total revenue was HK$376,776,000, a decrease of 3.0% from HK$389,816,000 in the same period of 2021[5] - The net profit for the period was HK$119,339,000, down 49.8% from HK$237,341,000 in the previous year[6] - Basic earnings per share decreased to HK$0.32, down from HK$0.61, reflecting a decline of 47.7%[5] - The total comprehensive income for the period was a loss of HK$137,623,000, compared to a gain of HK$457,827,000 in the same period last year[6] - The company's profit for the six months ended June 30, 2022, was HKD 119,497,000, a decrease from HKD 232,673,000 for the same period in 2021, representing a decline of approximately 48.7%[38] - The total comprehensive income for the period was HKD 27,395,000, significantly lower than HKD 138,617,000 in the previous year[33] Revenue Breakdown - Rental income increased to HK$156,949,000, up 5.0% from HK$149,023,000 year-on-year[5] - Revenue from hotel operations increased significantly to HKD 80,804,000, up 74.7% from HKD 46,205,000 in the previous year[18] - The company reported a decrease in sales from the retail segment to HKD 42,580,000, down 62.5% from HKD 113,460,000 in the previous year[18] - Revenue from property management was HKD 12,523,000, showcasing the company's diversified income streams[20] - The revenue from trade and manufacturing was HKD 44,088,000, contributing to the overall financial performance[20] Expenses and Costs - Administrative and operating expenses rose to HK$131,700,000, an increase of 15.7% from HK$113,844,000[5] - Total operating expenses for the period were HKD 260,175,000, highlighting the company's cost management efforts[26] - The company incurred employee costs of HKD 71,613,000 for the current period, up from HKD 67,920,000 in the previous year, reflecting an increase of approximately 3.5%[37] - Depreciation of property, plant, and equipment increased to HKD 50,660,000 from HKD 35,774,000, indicating a rise of approximately 41.6%[37] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled HKD 12,318,376, an increase from HKD 12,201,944 as of December 31, 2021, representing a growth of approximately 0.96%[7] - Current assets amounted to HKD 3,816,848 as of June 30, 2022, down from HKD 3,981,928 as of December 31, 2021, indicating a decrease of about 4.15%[7] - Current liabilities increased to HKD 1,456,439 as of June 30, 2022, compared to HKD 1,221,515 as of December 31, 2021, reflecting an increase of approximately 19.25%[7] - The net current assets decreased to HKD 2,360,409 as of June 30, 2022, from HKD 2,760,413 as of December 31, 2021, a decline of about 14.48%[7] - Total non-current liabilities were HKD 1,688,000 as of June 30, 2022, slightly down from HKD 1,727,946 as of December 31, 2021, showing a decrease of approximately 2.30%[8] Dividends and Shareholder Information - The company declared an interim cash dividend of HK$0.18 per share, payable on September 19, 2022[4] - Major shareholder Liao Group Limited holds 132,326,710 shares, representing 34.95% of the issued share capital[88] - Major shareholder Aibo Group Limited owns 77,834,290 shares, accounting for 20.56% of the issued share capital[88] - The interim dividend declared for the current period is HKD 0.18 per share, consistent with the previous year's interim dividend[39] Investment and Financing Activities - The company reported a significant loss in fair value of financial instruments amounting to HK$16,355,000, compared to a gain of HK$190,369,000 in the previous year[6] - The company obtained bank loans of approximately HKD 376,000,000 during the period, compared to HKD 160,000,000 as of June 30, 2021[12] - The company has committed to provide loans to joint ventures amounting to HKD 279,131,000 during the period[49] Market and Operational Insights - The company is focusing on expanding its hotel operations, particularly in Thailand, as part of its growth strategy[24] - The overall occupancy rate of the group's main investment properties was maintained at 85.2% as of June 30, 2022[65] - The hotel project in Thailand recorded total revenue of HKD 16.9 million for the period ending June 30, 2022, with measures in place to improve occupancy rates and dining business[81] Compliance and Governance - The board of directors confirmed compliance with the corporate governance code during the review period[91] - The company’s interim financial report for the six months ending June 30, 2022, was reviewed by Deloitte, confirming adherence to accounting standards[96]

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]

Financial Performance - For the six months ended June 30, 2021, the company reported a profit of HKD 237,341,000, a significant increase from HKD 21,231,000 in the same period of 2020, representing a growth of approximately 1,020%[44] - The company achieved a basic earnings per share of HKD 0.61, compared to HKD 0.05 in the previous year, marking a substantial increase[44] - Other comprehensive income for the period was HKD 220,486,000, a turnaround from a loss of HKD 163,866,000 in the prior year[45] - The total comprehensive income for the period amounted to HKD 457,827,000, compared to a loss of HKD 142,635,000 in the same period last year[45] - The company reported a net profit before tax of HKD 260,219,000, reflecting strong operational performance[73] - The company's profit for the six months ended June 30, 2021, was HKD 232,673,000, compared to HKD 17,375,000 for the same period in 2020[87] Revenue and Income Sources - Revenue from customer contracts was HKD 214,709,000, up from HKD 197,370,000 in 2020, indicating an increase of about 8%[44] - Total revenue for the six months ended June 30, 2021, was HKD 389,816,000, slightly up from HKD 389,148,000 in the same period of 2020, indicating a marginal increase of 0.17%[60] - Revenue from property sales was HKD 113,460,000, down from HKD 141,769,000 in the previous year, reflecting a decrease of approximately 20%[60] - The company’s hotel operations revenue increased to HKD 46,205,000 from HKD 13,509,000, marking a growth of approximately 242%[60] - Customer revenue amounted to HKD 149,023,000, with inter-group transactions contributing HKD 3,338,000[72] - Total revenue for the company reached HKD 389,816,000, with a significant contribution from property investment at HKD 206,490,000[71] Expenses and Costs - Direct costs decreased to HKD 154,343,000 from HKD 163,858,000, showing a reduction of approximately 5.5%[44] - Administrative and operating expenses increased slightly to HKD 113,844,000 from HKD 109,020,000, reflecting a rise of about 4.5%[44] - Financial costs significantly decreased to HKD 11,695,000 from HKD 26,359,000, indicating a reduction of approximately 55.6%[44] - Operating expenses totaled HKD 262,920,000, with a notable portion attributed to property management and development[73] Assets and Liabilities - Non-current assets increased to HKD 11,816,178 thousand as of June 30, 2021, compared to HKD 11,274,672 thousand as of December 31, 2020, reflecting a growth of 4.8%[46] - Current assets rose to HKD 3,694,253 thousand, up from HKD 3,664,878 thousand, indicating a slight increase of 0.8%[46] - Total liabilities increased to HKD 13,028,565 thousand as of June 30, 2021, compared to HKD 12,665,383 thousand as of December 31, 2020, representing a growth of 2.9%[47] - The company's equity attributable to shareholders increased to HKD 12,933,632 thousand from HKD 12,577,667 thousand, showing a growth of 2.8%[47] - The company's borrowings due within one year rose to HKD 606,632 thousand from HKD 480,469 thousand, an increase of 26.4%[46] Cash Flow and Investments - The net cash generated from operating activities for the six months ended June 30, 2021, was HKD 118,363,000, a significant increase from HKD 25,499,000 in the same period of 2020, representing a growth of approximately 364%[53] - The company reported a net cash outflow from investing activities of HKD 220,781,000 for the six months ended June 30, 2021, compared to HKD 67,095,000 in the same period of 2020, indicating a significant increase in investment expenditures[53] - New borrowings amounted to HKD 160,000,000, while repayments of borrowings were HKD 34,244,000, resulting in a net cash inflow from financing activities of HKD 18,321,000[53] Dividends and Shareholder Information - The company plans to pay an interim cash dividend of HKD 0.18 per share on September 10, 2021[43] - The total dividend declared for the current period was HKD 94,645,000, with a dividend of HKD 0.25 per share for the year-end 2020, down from HKD 0.38 per share in 2019[89] - Major shareholders include 廖氏集團有限公司 with 132,326,710 shares (34.95%) and 婴贸集團有限公司 with 73,920,290 shares (19.52%) as of June 30, 2021[137] Future Outlook and Strategic Plans - The company plans to continue expanding its investment activities, particularly in property development and management sectors, to enhance revenue streams[60] - The company plans to expand its market presence, focusing on property management and financial investments[69] - Future outlook includes continued investment in new technologies and market expansion strategies to enhance competitive advantage[68] Compliance and Governance - The company has maintained compliance with the corporate governance code, except for the dual role of the Chairman and CEO, which the board believes is in the best interest of the company[141] - The audit committee reviewed the accounting policies and discussed audit, internal controls, and financial reporting, including the unaudited interim financial report[145] - The unaudited interim financial statements for the six months ending June 30, 2021, were reviewed by the company's auditor, Deloitte, and an unmodified review report was issued[145]

Financial Performance - Profit for the year attributable to owners of the Company decreased significantly from HK$1.01 billion in 2018 to HK$162.56 million in 2020, a decline of 84%[5] - Basic earnings per share dropped from HK$2.68 in 2018 to HK$0.43 in 2020, a decrease of 84%[5] - For the year ended December 31, 2020, the Group recorded a profit of HK$173.5 million, representing a decrease of 61% compared to 2019[22] - Revenue for 2020 was HK$771,622,000, down 40% from HK$1,276,508,000 in 2019[85] - Profit for the year attributable to owners of the Company was HK$162,560,000, down 62% from HK$429,984,000 in 2019[85] Dividend and Payout - Dividend per share was reduced from HK$0.70 in 2018 to HK$0.25 in 2020, a decrease of 64.3%[5] - The total dividend per share decreased by 33% to HK$0.40 from HK$0.60 in 2019[85] - The dividend payout ratio increased to 93% from 53% in the previous year[85] - The Group proposed a final cash dividend of HK$0.25 per share, totaling HK$0.40 per share for the year 2020[22] Assets and Liabilities - Total assets increased from HK$13.72 billion in 2016 to HK$14.94 billion in 2020, representing a growth of 8.9%[5] - Total liabilities decreased from HK$2.80 billion in 2016 to HK$2.27 billion in 2020, a reduction of 18.5%[5] - Total net assets rose from HK$10.92 billion in 2016 to HK$12.67 billion in 2020, an increase of 15.9%[5] Market and Economic Conditions - In 2020, the US economy contracted by 3.5% and employment levels decreased by 3% compared to 2019[1] - The EU and UK economies contracted by approximately 7% and 9% respectively, with a severe recession in Q2 followed by a rebound in Q3[1] - The Hong Kong economy contracted by more than 6% in 2020, with an unemployment rate of 6.6% in Q4, the worst in 16 years[18] - Mainland China was the only major economy to achieve positive growth of 2.3% in 2020, with quarterly growth rates of 3.2%, 4.9%, and 6.5% in Q2, Q3, and Q4 respectively[14] Property Development and Sales - The Group's property development project in Foshan, The Grand Riviera, achieved sales of 99%, 100%, and 100% for residential units of Phase 1, 2, and 3 respectively, with total sale proceeds of HK$5.9 billion by the end of 2020[24] - For the year ended December 31, 2020, the Group recorded sales revenue of approximately HK$226.0 million, with 72 residential units and 328 carpark units sold[101] - As of December 31, 2020, a total of 5,171 residential units out of 5,264 units (representing 98%) and 1,651 carpark units out of 4,670 units (representing 35%) were successfully sold, fetching accumulated sale proceeds of approximately HK$5.9 billion[101] Corporate Governance - The Company has confirmed compliance with the Model Code for Securities Transactions by Directors throughout the review period[46] - All directors have confirmed their independence as per the Listing Rules[46] - The company intends to comply with the Corporate Governance Code regarding director re-election[46] - The Audit Committee is satisfied with the company's internal control procedures and financial reporting disclosures[76] Environmental Sustainability - The Group signed the "Energy Saving Charter 2020," promoting energy efficiency and aiming to reduce carbon emissions in Hong Kong[192] - The Chong Hing Finance Centre in Shanghai received LEED gold certification in June 2020, demonstrating the Group's commitment to sustainable building practices[192] - The Group's operations at Chong Hing Bank Centre, Chong Hing Square, and Fairview Court adhered to ISO 14001:2015 standards for environmental management[194] - The Group focused on integrating environmental considerations into business operations, including minimizing pollution and reducing waste[192] Employment and Staff Costs - The Group employed 472 staff as of December 31, 2020, with total employee costs of approximately HK$133.2 million, down from HK$144.0 million in the previous year[126] - The Group's remuneration policy links total rewards, including basic salary and bonuses, to employee performance, ensuring competitive pay levels in the market[126] Risk Management - The Group is committed to implementing effective risk management policies and internal control procedures to identify and manage potential risks[159] - The Audit Committee monitored the external auditors' independence and reviewed the internal control system of the Company[79] - The Group utilizes derivative instruments for hedging purposes to manage interest rate and foreign exchange exposures[119] Shareholder Communication - The Company emphasizes the importance of regular communication with shareholders to ensure informed assessments of its strategy, operations, and financial performance[174] - The Company maintains a website to promote effective communication, where announcements, financial information, and corporate governance practices are posted[181] - The Company encourages shareholders to participate in the annual general meeting and allows for proxy voting[180]

Financial Performance - Total revenue for the six months ended June 30, 2020, was HKD 197,370,000, a decrease of 67.4% compared to HKD 604,790,000 in the same period of 2019[8] - Profit before tax for the period was HKD 40,660,000, a significant decline of 89.7% from HKD 392,948,000 in the previous year[8] - Net profit for the six months was HKD 21,231,000, down 93.1% from HKD 310,382,000 in the same period last year[9] - Basic earnings per share decreased to HKD 0.05, compared to HKD 0.79 in the previous year, reflecting a decline of 93.7%[8] - The company reported a total comprehensive loss of HKD 142,635,000 for the period, compared to a comprehensive income of HKD 292,904,000 in the previous year[9] - The group recorded sales revenue of approximately HKD 143.9 million for the period ended June 30, 2020, with 55 residential units and 164 parking spaces sold[77] - The group's unaudited consolidated profit for the six months ended June 30, 2020, was approximately HKD 21,200,000, a decrease of about HKD 289,200,000 compared to HKD 310,400,000 for the same period in 2019[69] Revenue Breakdown - Total revenue for the six months ended June 30, 2020, was HKD 389,148,000, a decrease of 52.6% compared to HKD 821,023,000 for the same period in 2019[18] - Revenue from property development was HKD 141,769,000, down 49.6% from HKD 281,211,000 in the previous year[18] - Revenue from interior decoration services dropped significantly to HKD 2,170,000 from HKD 270,802,000, reflecting a decline of 99.2%[18] - Revenue from hotel operations increased to HKD 13,509,000, up 90.5% from HKD 7,077,000 in the previous year[18] - Revenue from property investment was HKD 156,620,000, down 9.7% from HKD 173,424,000[18] - Customer revenue accounted for HKD 156,620,000, up from HKD 143,939,000, indicating an increase of about 8.8% year-on-year[26] Expenses and Costs - Direct costs for the period were HKD 389,148,000, down from HKD 821,023,000, indicating a reduction of 52.7%[8] - Operating expenses decreased to HKD (65,621,000) from HKD (79,557,000), reflecting a reduction of approximately 17.5%[26] - Employee costs, including director remuneration, increased to HKD 69,526,000 from HKD 62,658,000, reflecting a rise of about 13.9% year-on-year[37] - The financial costs incurred were HKD (17,739,000), which is a slight increase from HKD (17,739,000) in the previous period[28] Assets and Liabilities - As of June 30, 2020, non-current assets totaled HKD 10,914,425, a decrease of 1.83% from HKD 11,118,790 as of December 31, 2019[10] - Current assets amounted to HKD 3,558,559, down 5.53% from HKD 3,766,254 at the end of 2019[10] - Total liabilities decreased to HKD 12,170,323 from HKD 12,470,220, reflecting a reduction of 2.41%[11] - The total equity attributable to shareholders decreased to HKD 12,108,525 from HKD 12,394,035, a decline of 2.31%[11] - The company’s borrowings due within one year were HKD 474,591, slightly down from HKD 491,350 at the end of 2019[11] Cash Flow - The net cash generated from operating activities was HKD 25,499, a significant improvement compared to a cash outflow of HKD 605,902 in the same period of 2019[14] - The company reported a net cash outflow of HKD 166,884 for the six months ended June 30, 2020, compared to HKD 772,682 in the same period of 2019[14] - The company’s bank deposits and cash at the end of the period were HKD 1,864,136, an increase from HKD 1,590,100 at the end of 2019[14] Dividends - The company declared an interim cash dividend of HKD 0.15 per share, with the ex-dividend date set for August 28, 2020[7] - The company declared an interim dividend of HKD 0.15 per share for 2020, down from HKD 0.22 per share in 2019, representing a decrease of approximately 31.8%[40] Operational Highlights - The overall occupancy rate of the group's main investment properties was maintained at 75% as of June 30, 2020[69] - The company aims to improve the occupancy rate of its Shanghai office despite the adverse economic impacts of the pandemic[75] - The group’s investment in warehouses and factories in Japan and Australia maintained a 100% occupancy rate, generating stable rental income of approximately HKD 10.5 million[82] Corporate Governance - The company has complied with the corporate governance code, except for the roles of the Chairman and Managing Director not being separated, which the board believes is in the best interest of the company[90] - There were no purchases, sales, or redemptions of the company's shares during the six-month period ending June 30, 2020[93] Future Outlook - The management anticipates an additional sales revenue of approximately HKD 1.2 billion from unsold properties under current market conditions[77] - The renovation of the Chuang Ye Plaza is expected to take 18 months, with an estimated cost of HKD 140,000,000 funded by internal resources[73]

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].

Financial Performance - Total revenue for the six months ended June 30, 2019, was HKD 821,023,000, an increase of 78% compared to HKD 461,637,000 in the same period of 2018[59] - Profit before tax for the same period was HKD 392,948,000, down 10.5% from HKD 439,300,000 in 2018[59] - Net profit for the six months was HKD 310,382,000, a decrease of 24.2% compared to HKD 409,625,000 in the previous year[60] - Basic earnings per share for the period was HKD 0.79, down from HKD 1.07 in 2018, representing a decline of 26.2%[59] - The total comprehensive income for the period was HKD 281,835,000, down from HKD 292,904,000 in the prior year[65] Revenue Breakdown - Revenue from property sales amounted to HKD 281,211,000, up from HKD 173,692,000 year-on-year, indicating a growth of about 62%[97] - Revenue from interior decoration services was HKD 270,802,000, reflecting a substantial increase compared to the previous year's figure of HKD 1, which suggests a strong market demand[97] - The group’s total revenue from customer contracts was HKD 604,790,000, significantly higher than HKD 232,449,000 in the same period last year, representing an increase of approximately 160%[97] - Revenue from property management services was HKD 11,179,000, compared to HKD 10,333,000 in the previous year, showing a growth of about 8%[97] - Hotel operations generated revenue of HKD 7,077,000, an increase from HKD 5,745,000, reflecting a growth of about 23%[97] Expenses and Costs - Direct costs increased significantly to HKD 411,306,000, compared to HKD 167,642,000 in 2018, reflecting a rise of 145%[59] - Operating expenses totaled HKD 513,600,000, with property management expenses at HKD 383,003,000[104] - The company reported a net cash outflow from operating activities of HKD 605,902,000 for the six months ended June 30, 2019, compared to a net inflow of HKD 622,218,000 for the same period in 2018[67] Assets and Liabilities - Non-current assets increased to HKD 11,108,034 thousand as of June 30, 2019, compared to HKD 10,979,464 thousand as of December 31, 2018, reflecting a growth of 1.2%[61] - Current assets totaled HKD 3,797,480 thousand, up from HKD 3,534,057 thousand, marking an increase of 7.5%[61] - Total liabilities increased to HKD 2,066,048 thousand from HKD 1,789,676 thousand, representing a rise of 15.4%[62] - The company's equity rose to HKD 12,508,252 thousand as of June 30, 2019, compared to HKD 12,397,068 thousand, indicating a growth of 0.9%[62] - The total amount of trade and other payables as of June 30, 2019, is HKD 520,077,000, significantly higher than HKD 244,799,000 as of December 31, 2018[126] Cash Flow and Financing - The net cash used in investing activities was HKD 519,097,000, significantly higher than HKD 242,998,000 in the previous year[67] - The company raised new borrowings amounting to HKD 872,461,000, while repaying HKD 318,532,000 in borrowings during the same period[67] - The company’s cash flow from financing activities showed a net inflow of HKD 352,317,000, contrasting with a net outflow of HKD 452,685,000 in the previous year[67] Dividends and Shareholder Information - The company declared an interim cash dividend of HKD 0.22 per share[58] - The company’s cash dividend payout for the year increased from HKD 159,005,000 in 2018 to HKD 181,720,000 in 2019[118] - Major shareholder Liao Group Limited holds 132,326,710 shares, representing 34.95% of the issued share capital[156] Investment and Property Management - The fair value gain on investment properties was HKD 93,516,000, indicating a positive market trend in property valuation[104] - The group recorded sales revenue of approximately HKD 552 million for the six months ended June 30, 2019, primarily from the sale of 199 residential units[148] - The overall occupancy rate of the group's major investment properties was maintained at 88.7% as of June 30, 2019[142] Compliance and Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules[160] - The audit committee reviewed the accounting policies and discussed the financial reporting, including the unaudited interim financial report for the six months ending June 30, 2019[163] - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[165]

Financial Performance - Profit for the year attributable to owners of the Company increased to HK$1,014,267,000 in 2018, up from HK$744,888,000 in 2017, representing a growth of 36.2%[5] - Basic earnings per share rose to HK$2.68 in 2018, compared to HK$1.97 in 2017, marking an increase of 36.1%[5] - The Group recorded a profit of HK$1,048 million for the year ended December 31, 2018, representing a 35% increase compared to 2017[23] - Revenue for 2018 was HK$1,836.2 million, a decrease of 17% from HK$2,215.4 million in 2017[86] - For the year ended December 31, 2018, the Group recorded an audited consolidated profit of approximately HK$1,047.9 million, representing an increase of approximately 35% compared to HK$773.8 million in 2017[89] Assets and Liabilities - Total assets for 2018 were HK$14,513,521,000, a slight decrease from HK$14,535,135,000 in 2017[5] - Total liabilities decreased significantly to HK$2,116,453,000 in 2018 from HK$2,696,260,000 in 2017, a reduction of 21.5%[5] - Total net assets increased to HK$12,397,068,000 in 2018, compared to HK$11,838,875,000 in 2017, indicating a growth of 4.7%[5] - The Group's share of results of joint ventures amounted to approximately HK$61.8 million, representing a 50% share of net asset value from investments in Japan and Australia[96] - Shareholders' funds increased from approximately HK$11,799.7 million in 2017 to approximately HK$12,332.8 million in 2018, a net increase of approximately HK$533.1 million[96] Dividends - The dividend per share for 2018 was HK$0.70, up from HK$0.60 in 2017, reflecting a growth of 16.7%[5] - The total cash dividend for the year 2018 amounted to HK$0.70 per share, including a final cash dividend of HK$0.48 per share and an interim cash dividend of HK$0.22 per share[24] - The dividend payout ratio from continuing operations was 26% in 2018, down from 30% in 2017[5] - The total dividend per share for 2018 was HK$0.70, an increase of 17% from HK$0.60 in 2017[86] Economic Environment - Hong Kong's economy expanded at a steady rate of around 3% until the third quarter of 2018, but market sentiment cooled significantly in the fourth quarter[19] - The unemployment rate in Hong Kong was 2.8% for the entire year, marking the lowest level in over 20 years[21] - Mainland China's GDP growth for 2018 was 6.6%, meeting market expectations despite challenges such as high debt levels and the Sino-US trade dispute[17] - The retail market in Hong Kong was sluggish throughout 2018, showing minimal growth compared to 2017, which weakened the rental market for retail properties[21] Property Development and Sales - In the Foshan property development project, 90%, 100%, and 100% of residential units in Phase 1, 2, and 3 have been sold, with total sale proceeds amounting to HK$5.2 billion as of December 31, 2018[27] - The Group expects to generate an additional HK$1.8 billion from the sale of remaining residential units, car parks, and shops in the future[27] - The comprehensive development project The Grand Riviera in Foshan was completed and handed over for occupation in September 2018[94] - Cash sale proceeds from The Grand Riviera, Foshan residential project amounted to approximately HK$1,177.2 million in 2018[97] Corporate Governance - The Company has substantially complied with the Corporate Governance Code throughout the year ended 31 December 2018[70] - The Audit Committee consists of four members, all of whom are Independent Non-executive Directors[79] - The Company has arranged directors and officers liability insurance for legal actions against its directors and senior management[71] - The Company has established a Corporate Governance Committee comprising three Executive Directors and two Independent Non-executive Directors[117] Environmental Initiatives - The Group has integrated environmental considerations into its operations, focusing on minimizing pollution, utilizing energy efficiently, and reducing waste[170] - Liu Chong Hing Investment Limited signed the Energy Saving Charter 2018, promoting energy efficiency and setting targets for indoor temperatures and energy-saving practices[170] - The design of The Grand Riviera includes ecological gardens and landscaped areas, with over 47% of its land space dedicated to greenery[170] - The operations of Chong Hing Bank Centre, Chong Hing Square, and Fairview Court are governed by ISO 14001:2015 environmental management standards[171] Employee Welfare and Management - The Group provides a comprehensive employee welfare package, including sick leave, casual leave, marriage leave, and statutory holidays[199] - The Group emphasizes health and safety, requiring property management staff to wear safety boots and ensuring well-stocked first-aid kits are available on all office floors[199] - Training allowances are provided for work-related training to enhance employee skills[199] - The Group strictly adheres to labor laws and regulations in its hiring practices, ensuring equal opportunities for all applicants[197]