Financial Performance - The company reported a profit attributable to shareholders of HKD 429 million for the fiscal year, compared to a loss of HKD 906 million in the previous year, marking a significant turnaround [11]. - Revenue decreased by 17% to HKD 2,303 million from HKD 2,789 million year-on-year [7]. - The company recorded revenue of HKD 2,303,000,000 for the fiscal year, a decrease from HKD 2,789,000,000 in the previous year, but turned a profit of HKD 429,000,000 compared to a loss of HKD 906,000,000 in the prior year [20]. - Gross profit for the same period was HKD 2,198 million, down from HKD 2,707 million, reflecting a decline of 18.8% [61]. - Operating profit for the year was HKD 823 million, a significant recovery from an operating loss of HKD 1,288 million in the previous year [61]. - Total revenue for the fiscal year ending March 31, 2023, was HKD 2,303 million, a decrease of 17.4% compared to HKD 2,789 million in the previous year [61]. Assets and Liabilities - Total assets increased by 8% to HKD 42,680 million, while net assets rose by 19% to HKD 23,956 million [7]. - The total asset value of the group was approximately HKD 42.7 billion, an increase from HKD 39.5 billion in 2022, while the net asset value rose to HKD 24 billion from HKD 20.1 billion [39]. - The net debt amounted to HKD 15.5 billion, a decrease from HKD 16.3 billion in 2022, with a net debt to revalued net asset ratio of approximately 50% compared to 62% in 2022 [39]. - The debt-to-equity ratio improved to 50% from 62%, reflecting a 12% decrease in net debt [7]. Development Projects - The company achieved a cumulative contract sales amount of RMB 4.8 billion for a residential development project in Tongzhou, Beijing, with approximately 95% of pre-sale units delivered during the fiscal year [11]. - The company plans to launch two new development projects in the second half of 2023, including a large residential project in Hong Shui Qiao and a high-end residential project on Po Shan Road [11]. - The company sold approximately 77% of residential units in the Beijing Tongzhou development project, generating total sales of about RMB 4.8 billion, with 95% of sold units delivered within the fiscal year [24]. - The company achieved a cumulative sales total of approximately HKD 2.5 billion from the "Royal Peak" luxury residential project, with 75% of units sold as of March 31, 2023 [25]. - The company is preparing to launch sales for a high-end residential project in Yuen Long, with 1,025 units planned, following the completion of foundation works [26]. Hotel and Tourism Business - The hotel business showed continuous improvement as travel restrictions were lifted, contributing positively to overall performance [11]. - The hotel and tourism segment saw a revenue increase of 120% to HKD 167,000,000, up from HKD 76,000,000 in the previous year, contributing positively to the segment's performance [35]. - The company is focused on expanding its hotel business in prime locations in Hong Kong, targeting business travelers and visitors from mainland China [17]. Financial Investments - The company holds financial investments valued at approximately HKD 8,780,000,000, an increase from HKD 7,600,000,000 in the previous year, with 91% of the portfolio in listed debt securities [36]. - The diversified property and financial investment portfolio provides stable and recurring income streams for the company [16]. Environmental and Sustainability Initiatives - The company reported a reduction in Scope 1 greenhouse gas emissions from 285 tons in the previous year to 123 tons in 2023, representing a decrease of approximately 57% [79]. - Scope 2 emissions increased from 12,291 tons to 13,284 tons, reflecting a rise of about 8% due to higher energy demand from increased hotel occupancy [79][80]. - The total amount of non-hazardous waste generated decreased from 1,425 tons to 1,399 tons, a reduction of approximately 2% [79]. - The company replaced and upgraded various equipment to more energy-efficient models, contributing to ongoing energy savings initiatives [81]. - The company aims to achieve green building certification for its projects in Hong Kong and Vancouver, aligning with sustainable development goals [84]. - The company has not faced any penalties for environmental protection violations during the reporting year [78]. Employee and Workplace Safety - The group employed approximately 340 staff as of March 31, 2023, down from 360 in 2022, with a compensation structure aligned with job nature and experience [47]. - Total employee count decreased from 357 to 338, a reduction of approximately 5.3% [98]. - Employee turnover rate increased significantly from 35% to 65%, indicating a notable rise in workforce instability [100]. - The number of lost workdays due to occupational injuries rose from 72 to 145, reflecting a deterioration in workplace safety [100]. - The company maintained a zero fatality record for the past three years, demonstrating a commitment to employee safety [100]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, ensuring a separation of roles between the chairman and the CEO [121]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with no reported violations during the reporting year [107]. - The board reviewed corporate governance policies and ensured compliance with relevant laws and regulations during the year [125]. - The company emphasizes effective communication with shareholders and investors, holding multiple meetings with local and institutional investors throughout the year [153]. Social Responsibility - A total of HKD 97,000 was donated to various charitable organizations during the reporting year [117]. - The company continues to implement corporate social responsibility initiatives, focusing on urgent social issues and supporting communities in need [112].

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之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 ASIA ORIENT HOLDINGS LIMITED 滙漢控股有限公司* （於百慕達註冊成立之有限公司） （股份代號：214） 截至二零二三年三月三十一日止年度 業績公佈 及建議修訂現有公司細則 財務摘要 （除另有註明外，金額以百萬港元列示） 二零二三年 二零二二年 變動 收入 2,303 2,789 -17% 本公司股東應佔溢利╱（虧損） 429 (906 ) 不適用 每股盈利╱（虧損）－基本（港元） 0.51 (1.08 ) 不適用 資產總值 42,680 39,520 +8% ...

Financial Performance - The company reported revenue of HKD 1,202 million for the six months ended September 30, 2022, a decrease of 16% compared to HKD 1,430 million in the same period last year[9]. - The loss attributable to shareholders was HKD 37 million, compared to a profit of HKD 44 million in the previous year, indicating a significant decline in performance[9]. - Total assets decreased by 4% to HKD 38,041 million from HKD 39,520 million[9]. - The company's equity attributable to shareholders decreased by 10% to HKD 9,454 million from HKD 10,477 million[9]. - The company reported a net loss of HKD 52,576 thousand for the period, compared to a profit of HKD 76,243 thousand in the same period last year[45]. - Total revenue for the six months ended September 30, 2022, was HKD 1,202,227 thousand, a decrease of 15.9% from HKD 1,429,874 thousand in the same period of 2021[43]. - The company reported a pre-tax loss of HKD 85,714 for the six months ended September 30, 2022, compared to a pre-tax profit in the previous year[101]. - The company reported a loss attributable to shareholders of HKD 37,333,000 for the six months ended September 30, 2022, compared to a profit of HKD 43,624,000 in the same period of 2021[127]. Asset and Liability Management - Total assets were approximately HK$38 billion, a decrease from HK$39.5 billion as of March 31, 2022, while net assets were HK$18.2 billion, down from HK$20.1 billion[29]. - The net debt increased by 3% to HKD 16,874 million from HKD 16,310 million[9]. - The group's net debt amounted to HK$16.9 billion, with a net debt to revalued net asset ratio of approximately 67%, up from 62% on March 31, 2022[30]. - The company's total liabilities decreased to HKD 7,360,405 thousand from HKD 7,911,695 thousand in the previous period[50]. - The company’s total liabilities decreased, reflecting a strategic focus on reducing debt levels[56]. - The total borrowing costs, including other related borrowing costs, amounted to HKD 155,764,000 in 2022, compared to HKD 190,159,000 in 2021, indicating a decrease of approximately 18%[9]. Investment and Development Projects - In Beijing Tongzhou, the company holds a 50% stake in a joint residential development project with a total floor area of 2,360,000 sq ft, comprising 964 residential units and 2 commercial office buildings. Approximately 75% of the residential units have been sold, generating a total contract sales amount of approximately RMB 4.7 billion[13]. - In Hong Kong, the luxury residential project "Royal" has sold 70% of its units, accounting for about 50% of the saleable area, with total sales amounting to approximately HKD 2.3 billion[17]. - The company is progressing with a residential development project in Yuen Long with a total floor area of 520,000 sq ft, where foundation works have been completed and superstructure works have commenced[18]. - The company is preparing to launch sales for a new high-end residential project on Po Shan Road in the first quarter of 2023, following the completion of construction and obtaining the occupancy permit[17]. - The company is currently in discussions with the Vancouver city government regarding the development permit for a high-end residential project on Alberni Street, with plans to submit a building permit application by the end of 2022[22]. Financial Investments and Market Performance - As of September 30, 2022, the company's financial investments amounted to approximately HKD 5.01 billion, down from HKD 7.6 billion as of March 31, 2022, with 89% of the investment portfolio in listed debt securities[25]. - The company reported a net investment loss of HKD 1.06 billion for the six-month period, compared to HKD 1.25 billion in the previous year[25]. - The fair value gain from investment properties was HKD 81,095 thousand, significantly lower than HKD 314,944 thousand in the previous year[43]. - The group reported a fair value loss of 6,342,653 thousand HKD for the period, reflecting market fluctuations[73]. - The expected credit loss for the period was primarily driven by specific debt securities, totaling HKD (455,846,000) in losses[116]. Cash Flow and Financial Position - As of September 30, 2022, the group's cash and undrawn bank financing exceeded HK$7.5 billion, down from HK$8.6 billion on March 31, 2022[29]. - The total cash and cash equivalents at the end of the period stood at HKD 886,971,000, down from HKD 1,643,527,000 a year earlier[53]. - The net cash used in operating activities was HKD (220,725,000), a significant improvement from HKD (795,395,000) in the previous year[53]. - The net cash generated from financing activities was HKD 446,599,000, compared to HKD 682,631,000 in the prior year, indicating a decrease in financing inflows[53]. - The company’s cash flow hedge recorded a gain of HKD 39,691,000 in the non-effective portion, contrasting with a loss of HKD 2,569,000 in the previous year[9]. Market Conditions and Challenges - The company continues to face challenges from the ongoing impact of the COVID-19 pandemic on its hotel operations, although there are signs of improvement[12]. - The management anticipates challenges ahead due to inflationary pressures and rising interest rates, which may hinder the local residential property market[34]. - The hotel business is beginning to recover as quarantine requirements are relaxed, with the government working towards full border reopening[35]. - The group continues to operate in a rising interest rate environment, hedging about 50% of its borrowings to limit financing costs[35]. - The management maintains a prudent financial approach to mitigate any negative impacts in the current uncertain economic environment[35]. Shareholder Information - The largest shareholder, Pan Zheng, holds 60.61% of the issued shares, totaling 509,672,171 shares[174]. - Pan Zheng's interests in related corporations include 684,865,276 shares in Pan Hai International Group, representing 51.89%[175]. - The company has unexercised share options amounting to 3,500,000 for directors Pan Hai and Pan Yang as of September 30, 2022[179]. - No new share options were granted to directors during the period, and existing options were neither exercised nor canceled[180].

Financial Performance - The company reported a significant annual loss attributable to shareholders of HKD 906 million, compared to a profit of HKD 1,007 million in the previous year, primarily due to unrealized losses from financial investments and additional provisions for expected credit losses [30]. - Total revenue for the year was HKD 2,789 million, reflecting a 2% increase from HKD 2,740 million in the previous year [26]. - The group recorded revenue of HKD 2,789 million for the fiscal year, compared to HKD 2,740 million in the previous year, while the loss attributable to shareholders was HKD 906 million, down from a profit of HKD 1,007 million in the prior year [39]. - The company reported a significant operating loss of HKD 1,288 million, compared to an operating profit of HKD 2,185 million in the previous year [87]. - The net loss attributable to shareholders was HKD 906 million, a decline from a profit of HKD 1,007 million in the prior year [87]. - The gross profit for the same period was HKD 2,707 million, slightly up from HKD 2,674 million, indicating a marginal increase of 1.2% [87]. Assets and Liabilities - The company's total assets decreased by 18% to HKD 39,520 million from HKD 48,565 million year-on-year [26]. - The net asset value dropped by 27% to HKD 20,051 million, down from HKD 27,448 million in the previous year [26]. - The revalued total assets decreased by 16% to HKD 45,223 million from HKD 54,091 million [26]. - Total liabilities were reported at HKD 19,469 million, down from HKD 21,117 million, showing a decrease of about 7.8% [87]. - The asset-liability ratio increased to 62% from 47%, indicating a 15% rise in financial leverage [26]. - The group’s net debt ratio was approximately 62%, compared to 47% in the previous year [2]. Investment and Development Projects - The company plans to launch two new development projects by the end of 2022, including a luxury residential project with 16 units overlooking Victoria Harbour and a large public housing project in Hong Shui Bridge [30]. - Contract sales for the residential development project in Tongzhou, Beijing, reached RMB 4.5 billion by the end of the fiscal year [30]. - The group increased its stake in a residential development project in Beijing Tongzhou from 10% to 50%, with contract sales amounting to RMB 1.5 billion during the year [44]. - The redevelopment of the Empire Landmark Hotel in Canada is progressing well, with contract sales amounting to approximately CAD 180 million as of March 31, 2022 [50]. - The company has ongoing projects with significant land areas, including a site in Beijing with a total floor area of approximately 2,360,000 square feet, expected to be completed in 2022 [84]. Rental and Hotel Business - Rental income decreased by 9% over the past year, while the hotel business is expected to recover as travel restrictions ease [31]. - The group owns and operates five "Royal" brand hotels located in prime areas of Hong Kong, targeting business travelers and visitors from mainland China, maintaining high occupancy rates due to competitive pricing [36]. - Revenue from the hotel and tourism segment increased by 104% to HKD 76,000,000, up from HKD 37,000,000 in the previous year [1]. Financial Management and Strategy - The group is focused on prudent financial management to maintain a strong financial position and reasonable levels of debt-to-equity ratio [37]. - The company is adopting a prudent financial approach to mitigate any negative impacts in the current uncertain economic environment [73]. - The company has hedged half of its borrowings through interest rate swap agreements, mitigating the financial cost impact from rising rates [72]. Environmental and Social Governance (ESG) - The company has engaged stakeholders through various communication channels, including annual meetings and reports, to understand their expectations and concerns regarding ESG issues [101]. - The company has implemented various environmental measures in its hotel operations, including a plan to reduce the frequency of changing bed linens to conserve water [113]. - The company aims to achieve green building certification for its projects by incorporating sustainable design and construction practices [112]. - The company has not faced any penalties for violations of environmental protection regulations during the reporting year [104]. - The company is actively identifying and analyzing climate change risks and opportunities to reduce carbon emissions [116]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, with the chairman and CEO being different individuals [163]. - The board held four meetings during the year, with all members actively participating in governance and oversight [167]. - The company has implemented a corporate governance policy and regularly reviews its effectiveness and compliance [164]. - The audit committee held two meetings during the year to review the annual and interim financial statements and assess the effectiveness of the internal audit function [181]. - The company has established a risk management framework to achieve its business objectives, with the board responsible for evaluating acceptable risk levels [181]. Employee and Community Engagement - The company employed approximately 360 staff as of March 31, 2022, an increase from 330 in 2021 [70]. - The total number of employees is 357, with 191 males and 166 females [128]. - The company donated a total of HKD 542,000 to various charitable organizations during the reporting year [158]. - The company has a strong commitment to equal employment opportunities and does not discriminate based on personal characteristics [117]. - The company encourages the use of recycled paper and energy-saving practices in its operations [120].

Financial Performance - The company reported revenue of HKD 1,430 million for the six months ended September 30, 2021, representing a 2% increase from HKD 1,404 million in the same period of 2020[6]. - The profit attributable to shareholders decreased by 91% to HKD 44 million, down from HKD 459 million in the previous year[11]. - Operating profit fell significantly by 76% to HKD 235 million compared to HKD 984 million in the prior year[6]. - The company's rental income for the period was HKD 92 million, compared to HKD 108 million in the previous year, indicating a decline due to ongoing pandemic restrictions[17]. - The company reported a net profit of HKD 76,243,000 for the six months ended September 30, 2021, a significant decrease from HKD 797,908,000 in the same period of 2020, representing a decline of approximately 90.4%[44]. - The total comprehensive income for the period was HKD (5,701,772,000), compared to HKD 2,869,920,000 in the previous year, indicating a substantial loss[44]. - The net profit for the six months ended September 30, 2021, was HKD 43,624,000, compared to HKD 458,519,000 for the same period in the previous year, indicating a significant decrease of approximately 90.5%[54]. - The total comprehensive income for the period was HKD 1,612,500,000, down from HKD 2,869,920,000 in the previous year, representing a decline of about 43.9%[54]. Assets and Liabilities - Total assets decreased by 13% to HKD 42,384 million from HKD 48,565 million[6]. - Net assets declined by 21% to HKD 21,692 million from HKD 27,448 million[6]. - The revalued total assets amounted to HKD 48,004 million, reflecting an 11% decrease from HKD 54,091 million[6]. - The debt-to-equity ratio increased to 60% from 47% due to the rise in net debt against revalued net assets[6]. - The group's current assets net value was HK$8.2 billion as of September 30, 2021, down from HK$11.8 billion on March 31, 2021, with total cash and securities of HK$12.7 billion, covering short-term debt of HK$3.9 billion by 3.3 times[24]. - The total liabilities decreased from HKD 7,095,398,000 as of March 31, 2021, to HKD 5,057,170,000 as of September 30, 2021, a reduction of approximately 28.8%[46]. - The company's equity attributable to shareholders decreased to HKD 11,484,732,000 from HKD 14,677,100,000, representing a decline of about 21.0%[49]. - The total liabilities as of September 30, 2021, were HKD 10,207,365,000, compared to HKD 12,770,520,000 as of March 31, 2021, showing a reduction of approximately 20.0%[54]. Investments and Financial Instruments - The financial investments held by the company amounted to approximately HKD 10.54 billion as of September 30, 2021, down from HKD 17.50 billion as of March 31, 2021, with 94% of the portfolio in listed debt securities[19]. - The company reported a significant loss in fair value of debt securities amounting to HKD (5,475,628,000) for the period, compared to a gain of HKD 2,065,004,000 in the previous year[44]. - The company reported a net investment loss of HKD 1,249,530 thousand, significantly impacting overall performance[80]. - The fair value gain from investment properties was HKD 314,944 thousand, contributing positively to the financial results[80]. - The company reported a fair value loss of HKD 3,216,974,000 on financial assets measured at fair value through other comprehensive income for the six months ended March 31, 2021[54]. - The company’s total liabilities as of September 30, 2021, were HKD 20,691,963, compared to HKD 21,117,052 as of March 31, 2021[83]. Operational Developments - In the Tongzhou project, the company achieved contract sales of approximately RMB 1 billion during the period, with total sales reaching RMB 4 billion as two-thirds of residential units were sold[12]. - The company is currently undergoing renovation works on six residential buildings in Beijing Tongzhou, with the foundation works for two commercial buildings in progress[12]. - The company is currently in the planning stage for a high-end residential project on Alberni Street, with a floor area of approximately 627,000 square feet[17]. - The average occupancy rate for the company's hotels in Wan Chai and Central decreased by 6% compared to the same period last year, reflecting the impact of strict quarantine measures[17]. - The company is implementing strategies to enhance occupancy rates and revenue, including long-term accommodation offers targeting local customers[19]. Debt and Financing - The company reported a net debt of HKD 16,579 million, an increase of 5% from HKD 15,819 million[6]. - Net debt amounted to HK$16.6 billion as of September 30, 2021, compared to HK$15.8 billion on March 31, 2021, with a net debt to revalued asset ratio of approximately 60%[24]. - The total borrowings as of September 30, 2021, were HKD 18,718,599,000, compared to HKD 17,994,031,000 as of March 31, 2021[139]. - Long-term bank loans due within one year were HKD 3,873,803,000 as of September 30, 2021, compared to HKD 4,483,727,000 as of March 31, 2021[142]. - The company’s long-term bank loans amounted to HKD 14,844,796,000 as of September 30, 2021, an increase from HKD 13,176,979,000 as of March 31, 2021[142]. Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2021, consistent with the previous year[106]. - The weighted average number of shares outstanding for the calculation of earnings per share remained unchanged at 840,873,996 for both periods[108]. - The company’s directors held a total of 509,672,171 shares, representing 60.61% of the issued shares as of September 30, 2021[157]. - The company has a total issued and paid-up share capital of HKD 84,087,000 as of September 30, 2021[143]. Corporate Governance and Compliance - The company has fully complied with the standards set out in the code of conduct for securities transactions during the period[190]. - The company has adhered to the corporate governance code, with exceptions regarding the appointment of non-executive directors and the establishment of a nomination committee[191].

Financial Performance - The company reported a revenue of HKD 2,740 million for the fiscal year, an increase of 4% compared to HKD 2,632 million in the previous year[26]. - Operating profit rose by 35% to HKD 2,185 million, up from HKD 1,623 million year-on-year[26]. - Profit attributable to shareholders increased by 82% to HKD 1,007 million, compared to HKD 554 million in the prior year[26]. - Basic earnings per share increased by 82% to HKD 1.20, up from HKD 0.66[26]. - Total assets increased by 11% to HKD 48,565 million, compared to HKD 43,893 million in the previous year[26]. - Net assets rose by 19% to HKD 27,448 million, up from HKD 23,126 million year-on-year[26]. - The group recorded revenue of HKD 2,740,000,000 for the fiscal year, representing a 4% increase compared to HKD 2,632,000,000 in the previous year[37]. - Profit attributable to shareholders increased by 82% to HKD 1,007,000,000, up from HKD 554,000,000 in the previous year[37]. - Gross profit for the same period was HKD 2,674 million, up from HKD 2,391 million in 2020, reflecting a growth of 11.8%[77]. - Operating profit increased to HKD 2,185 million, compared to HKD 1,623 million in 2020, representing a growth of 34.6%[77]. - Total assets reached HKD 48,565 million, up from HKD 43,893 million in 2020, indicating a growth of 10.4%[77]. - Total liabilities increased to HKD 21,117 million from HKD 20,767 million, a rise of 1.7%[77]. Property Development - The company’s property development business in Hong Kong and China showed encouraging performance, with 50% of units sold in the "Royal Peak" project by the end of March 2021[30]. - The Beijing Tongzhou residential development project is expected to be completed in the second half of 2022[30]. - The group sold all units of the final phase of the "Ying Ting Ming Villa" project in Shanghai, generating approximately RMB 1.1 billion in sales, with about 70% recognized in the previous year[40]. - The joint development project "Huang Di" in Hong Kong has sold half of its units, generating sales of approximately HKD 1.5 billion, all of which has been recognized in the current fiscal year[40]. - The group is currently developing a mixed-use project in Beijing with a total floor area of 2.3 million square feet, with residential sales reaching RMB 3 billion as of March 2021[41]. - The sales performance of the luxury residential project "The Royal" in Hong Kong was encouraging, with strong sales in other first-hand properties by local developers[63]. - The joint venture projects in Beijing and Shanghai showed excellent sales performance, with the Shanghai project sold out and the Beijing project maintaining good sales momentum[63]. Financial Management - The group is committed to prudent financial management to effectively manage risks and maintain a strong balance sheet[1]. - The group has a strong liquidity position and is confident that its long-term strategies will maximize shareholder value[1]. - As of March 31, 2021, the group's financial investments amounted to approximately HK$17.5 billion, up from HK$16.3 billion in the previous year, with 95% in listed debt securities[48]. - The net debt was HK$15.8 billion, down from HK$17.9 billion in the previous year, with a net debt to revalued net asset ratio of approximately 47%[56]. - The group held cash and undrawn bank financing exceeding HK$12.1 billion, compared to HK$6.2 billion in the previous year[56]. - The investment portfolio generated income of HK$2.46 billion, up from HK$2.06 billion in the previous year[48]. - The company has a structured training program for directors to enhance their understanding of corporate governance and regulatory requirements[152]. Hotel and Tourism Business - The company anticipates that the recovery of its hotel business will depend on the lifting of travel restrictions and the reopening of borders[30]. - Hotel and tourism business revenue fell by 87% to HK$37 million, down from HK$297 million in the previous year, due to a more than 99% decrease in inbound travelers[47]. - The group anticipates that the recovery of the hotel business will depend on the successful lifting of inbound travel restrictions, with effects still to be observed[63]. Corporate Social Responsibility - The company has implemented additional COVID-19 measures, including mandatory testing for frontline staff and enhanced sanitation protocols in hotels and commercial buildings[93]. - The company provided 7,500 disposable children's masks and 150 bottles of hand sanitizer to the Hong Kong Association for the Mentally Handicapped during the pandemic[113]. - The company donated a total of HKD 260,000 to various charitable organizations during the reporting year[114]. - The company has been recognized for its contributions to community care, receiving the "10 Years + Caring Company" award from the Hong Kong Council of Social Service[113]. - The group made charitable donations of HKD 260,000 during the year, a decrease from HKD 1,220,000 in 2020[188]. Governance and Compliance - The board consists of six executive directors and three independent non-executive directors, with the chairman and CEO being different individuals[118]. - The board held four meetings during the year, with attendance rates for directors ranging from 2/4 to 4/4 for board meetings[122]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with no significant violations reported during the year[105][106]. - The company has adopted the standard code for securities transactions by directors, confirming full compliance for the year ending March 31, 2021[129]. - The board reviewed corporate governance policies and ensured compliance with relevant laws and regulations during the year[119]. - The company allows shareholders to propose resolutions at the annual general meeting if they hold at least 1/20 of the voting rights or a minimum of 100 shareholders[142]. - The company has a process for shareholders to request a special general meeting if they hold at least 1/10 of the paid-up capital with voting rights[146]. - The company has established a risk management framework to achieve its business objectives, with the board responsible for maintaining an effective risk management and internal control system[133]. - The internal audit function conducted assessments of the risk management and internal control systems at least once during the fiscal year, focusing on high-risk areas[136]. - The company has not identified any significant control deficiencies during the fiscal year, affirming the effectiveness of its risk management and internal control systems[138]. Employee and Director Management - The company employs approximately 330 employees as of March 31, 2021, a decrease from 340 in 2020[63]. - The company regularly conducts training programs to enhance occupational safety and customer service skills among employees[97]. - The remuneration committee is chaired by independent non-executive director Mr. Wong, with a focus on fair market compensation to attract and retain high-quality employees[127]. - The company is committed to continuous professional development for directors and senior management[119]. - The board of directors includes experienced members with extensive backgrounds in project management and finance, ensuring strong governance[158][164]. Dividend Policy - The company has adopted a dividend policy to distribute interim and final dividends when deemed appropriate, considering the group's financial performance and future prospects[155]. - The company proposed a final dividend of HKD 0.036 per share for the year ended March 31, 2021, totaling HKD 30,271,000, compared to no dividend in 2020[183]. - The group reported no interim dividend for the year, consistent with the previous year[183].

Financial Performance - The company reported a revenue of HKD 1,404 million for the six months ended September 30, 2020, representing a 2% increase from HKD 1,382 million in the same period of 2019[10]. - Profit attributable to shareholders increased by 9% to HKD 459 million, compared to HKD 422 million in the previous year[10]. - The company's operating profit decreased by 12% to HKD 984 million from HKD 1,112 million year-on-year[10]. - The net profit for the period was HKD 797,908,000, compared to HKD 746,040,000 in the same period last year, representing an increase of approximately 6.9%[44]. - The basic earnings per share increased by 10% to HKD 0.55 from HKD 0.50 in the previous year[10]. - Total comprehensive income for the period amounted to HKD 2,869,920,000, compared to a loss of HKD 59,469,000 in the previous period[49]. - The net profit for the six months ended September 30, 2020, was HKD 458,519,000, compared to HKD 339,389,000 for the same period in 2019, representing a growth of approximately 35.1%[64]. Assets and Liabilities - The total assets increased by 7% to HKD 46,982 million, up from HKD 43,893 million[10]. - The net asset value rose by 12% to HKD 25,996 million, compared to HKD 23,126 million in the previous year[10]. - The net liabilities decreased by 4% to HKD 17,187 million from HKD 17,920 million year-on-year[10]. - The group's total assets were approximately HKD 47 billion as of September 30, 2020, up from HKD 43.9 billion as of March 31, 2020, with a net asset value of HKD 26 billion[24]. - The company's total liabilities increased to HKD 12,064,653,000 from HKD 13,414,859,000, reflecting a decrease of approximately 10%[56]. - The company's total liabilities and equity as of September 30, 2020, were not explicitly stated in the provided documents, but the significant changes in assets and receivables indicate a strategic focus on growth and investment[137]. Investments and Sales - The company recorded significant sales in its Beijing Tongzhou development project, with sales exceeding RMB 2.3 billion as of the end of October 2020[13]. - The sales of the high-end villa and apartment development project "Yingting Mingzhu" in Shanghai reached a cumulative contract sales amount of approximately RMB 1.1 billion, with 97% of the third phase units sold[13]. - The joint development project "Royal" in Jardine's Lookout has sold half of its units, accounting for one-third of the saleable area, with sales revenue of approximately HKD 1.5 billion, of which HKD 1.2 billion was recognized during the interim period[16]. - The company completed a land exchange for a residential and commercial development project in Yuen Long, with a premium of HKD 2.1 billion, providing approximately 520,000 square feet of floor area[16]. - The group is in the process of applying for land exchange for another residential development project near Tuen Mun Light Rail Station, which will provide approximately 67,000 square feet of residential floor area[17]. Financial Investments - The group's financial investments increased to approximately HKD 18.58 billion as of September 30, 2020, up from HKD 16.33 billion as of March 31, 2020, primarily due to net purchases of HKD 315 million and a market valuation gain of HKD 1.93 billion[22]. - Revenue from the investment portfolio rose to HKD 1.25 billion, compared to HKD 1.04 billion in the previous year, driven by further investments in debt securities[23]. - The fair value gain on financial assets recognized in other comprehensive income for the six months ended September 30, 2020, was HKD 1,150,940,000, compared to HKD 911,558,000 in the same period of 2019, marking a rise of approximately 26.2%[64]. - The total market value of the financial investment portfolio was HKD 467,846 million as of September 30, 2020, slightly up from HKD 462,467 million as of March 31, 2020, with total dividend income of HKD 2,622 million compared to HKD 37,455 million in the previous year[150]. Operational Metrics - The hotel business revenue decreased by 87% to HKD 18 million due to a decline in tourist arrivals exceeding 99% amid the COVID-19 pandemic[21]. - The group employed approximately 330 employees as of September 30, 2020, down from 340 employees as of March 31, 2020[31]. - The group reported a decrease in sales and administrative expenses to HKD 116,670,000 from HKD 138,045,000 year-on-year, a reduction of approximately 15.5%[44]. - The management anticipates that the hotel business will depend on the successful implementation of government measures to promote inbound tourism[32]. Shareholder Information - As of September 30, 2020, the total shares held by the directors and senior management amounted to 424,140,387, representing 50.44% of the issued shares[186]. - Pan Zheng holds 273,607,688 shares personally, along with 145,213,900 shares through corporate interests, totaling 424,140,387 shares[186]. - The total shares held by Pan Hai is 10,444,319, which accounts for 1.24% of the issued shares[186]. - The total equity interests of directors and senior management in the company and its associated corporations are significant, indicating strong insider confidence[190].

Financial Performance - The company reported a revenue of HKD 2,632 million for the year ending March 31, 2020, representing a 9% increase from HKD 2,420 million in 2019[10]. - Operating profit decreased by 18% to HKD 1,623 million compared to HKD 1,969 million in the previous year[10]. - The profit attributable to shareholders was HKD 554 million, down 32% from HKD 810 million in 2019[10]. - The group's revenue for the year was HKD 2,632,000,000, representing a 9% increase from HKD 2,420,000,000 in the previous year[25]. - The profit attributable to shareholders decreased to HKD 554,000,000 from HKD 810,000,000 due to investment property revaluation losses[25]. - Gross profit for the same period was HKD 2,391 million, up from HKD 2,132 million, reflecting a growth of 12.1%[56]. - Total liabilities rose to HKD 20,767 million from HKD 18,842 million, an increase of 10.2%[56]. Assets and Liabilities - The company's total assets increased by 1% to HKD 43,893 million, while net assets decreased by 7% to HKD 23,126 million[10]. - Total assets were approximately HKD 43.9 billion, with net assets at HKD 23.1 billion, down from HKD 24.8 billion the previous year[42]. - Net debt increased to HKD 17.9 billion from HKD 16.4 billion, with a debt ratio of approximately 61%[43]. - The debt-to-net asset ratio rose to 61%, an increase of 9% from 52% in the previous year[9]. Investment and Sales - The company achieved contract sales exceeding HKD 1 billion for its property in Jardine's Lookout, Hong Kong, by the end of May 2020[16]. - The residential project in Beijing Tongzhou achieved contract sales of approximately RMB 1.7 billion as of May 2020, with presales starting in July 2019[29]. - The high-end villa and apartment project in Shanghai recorded over 90% sales in its final phase, amounting to contract sales of approximately RMB 900 million[29]. - The Empire Landmark hotel redevelopment project in Vancouver has achieved contract sales of approximately CAD 140 million since its presale began in 2018[34]. Economic Outlook and Management Strategy - The management remains cautious due to significant threats to the Hong Kong economy from the pandemic and political conflicts[17]. - The company is in a strong financial position with sufficient liquidity to seize potential investment opportunities[17]. - The company anticipates a gradual reopening of industries as the government combats the pandemic, aiming to restore pre-pandemic conditions[46]. - The company maintains a cautious approach to mitigate any negative impacts amid ongoing economic uncertainties[46]. Environmental Impact - Total greenhouse gas emissions decreased from 200 tons to 184 tons, representing an 8% reduction[66]. - Energy consumption from electricity decreased from 19,386,000 kWh to 19,185,000 kWh, a decline of approximately 1%[68]. - Water consumption decreased significantly from 237,193 cubic meters to 128,676 cubic meters, a reduction of about 46%[68]. - The amount of construction and demolition waste generated decreased from 4,749 tons to 1,843 tons, a reduction of approximately 61%[67]. - The company has implemented various environmental measures in hotel operations to reduce waste and promote recycling[71]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, ensuring a separation of roles between the chairman and the CEO[100]. - The board meets regularly, typically once a quarter, to review long-term business strategies and operational performance[101]. - The company adopted a risk management framework to achieve its business objectives, with the audit committee reviewing its effectiveness at least once per fiscal year[116]. - The company encourages directors to participate in professional development courses related to corporate governance and compliance[134]. Community Engagement - The group donated a total of HKD 1,220,000 to various charitable organizations during the reporting year[95]. - The group has been actively contributing to the community in Hong Kong and mainland China over the past decade[89]. - The group has actively engaged in community support activities, including workshops and internships for students with special needs[94]. Shareholder Information - The company has a dedicated website for shareholders and the public to access timely information[138]. - The company did not declare an interim dividend for the year ending March 31, 2020, consistent with the previous year[170]. - The board decided not to recommend a final dividend for the year ending March 31, 2020, compared to a final dividend of HKD 0.018 per share totaling HKD 15,136,000 in 2019[170].

Financial Performance - The company's revenue for the six months ended September 30, 2019, was HKD 1,382 million, representing a 21% increase from HKD 1,140 million in the same period of 2018[10]. - Profit attributable to shareholders decreased by 17% to HKD 422 million, down from HKD 509 million in the previous year[10]. - The basic earnings per share were HKD 0.50, an 18% decline from HKD 0.61 in the prior year[10]. - The net profit for the six months ended September 30, 2019, was HKD 746 million, down from HKD 949 million in the same period of 2018, indicating a decrease of approximately 21.4%[41]. - The total comprehensive income for the period was a loss of HKD 805,509,000, down from a loss of HKD 1,626,953,000 in the previous year[44]. - The total revenue for the six months ending September 30, 2019, was HKD 1,381,787,000, with contributions from property leasing at HKD 107,278,000 and hotel and tourism at HKD 1,042,629,000[84]. - The net profit before tax for the six months ending September 30, 2019, was HKD 961,790,000, reflecting a significant increase compared to the previous period[84]. Assets and Liabilities - The total asset value as of September 30, 2019, was HKD 43,060 million, a decrease of 1% from HKD 43,673 million[10]. - The total liabilities decreased by 5% to HKD 15,573 million from HKD 16,390 million[10]. - The company's total assets pledged to banks as collateral for financing amounted to HKD 19.9 billion as of September 30, 2019, slightly down from HKD 20 billion on March 31, 2019[27]. - The company's total liabilities as of September 30, 2019, were HKD 18,326,345, with borrowings amounting to HKD 16,274,639[87]. - The company's total current liabilities amounted to HKD 3,408,122, a decrease of 21.8% from HKD 4,361,162 as of March 31, 2019[163]. - The total non-current liabilities stood at HKD 12,866,517, slightly up from HKD 12,480,033, reflecting an increase of 3.1%[163]. Investment Activities - The company continues to invest in debt securities, leading to increased investment income despite a significant decrease in revaluation gains[13]. - Income from the investment portfolio increased to HKD 1,043,000,000 in 2019, up from HKD 761,000,000 in 2018[22]. - The group reported a net loss of HKD 747,000,000 in market valuation adjustments, primarily due to interest rate hikes and uncertainties from the US-China trade dispute[21]. - The company reported a net investment loss of HKD 246,629,000 during the same period, highlighting challenges in the investment sector[84]. - Interest income from listed investments increased to HKD 992,618,000, up from HKD 701,067,000 year-over-year, representing a growth of approximately 41.6%[108]. Property Development - The company has ongoing property development projects in Beijing, with a gross floor area of 2.3 million square feet, and contract sales exceeding RMB 700 million as of the interim period[13]. - The final phase of the high-end villa and apartment development project in Shanghai has also commenced sales, with nearly 55% of remaining units sold, amounting to approximately RMB 550 million in contract value[13]. - The company anticipates continued strong performance in property sales in Beijing and Shanghai, supported by a stabilizing mainland property market[31]. Operational Efficiency - The average occupancy rate of Hong Kong hotels dropped to approximately 80%, down from 95% in the previous year, with a 17% decrease in average room rates[19]. - The company employed approximately 450 staff as of September 30, 2019, down from 470 employees on March 31, 2019[31]. - Cash flow from operating activities generated HKD 1,181,355,000, a significant recovery from a cash outflow of HKD 3,209,545,000 in the previous year[52]. - Cash flow used in investing activities was HKD 167,188,000, compared to HKD 457,226,000 in the previous year, showing improved investment efficiency[52]. - Cash flow used in financing activities was HKD 714,164,000, a decrease from cash generated of HKD 3,153,198,000 in the previous year, indicating reduced financing activities[52]. Shareholder Information - Pan Zheng holds 1,308,884 shares in Pan Ocean International Group Limited, representing 51.89% of the issued shares[181]. - Major shareholders include Dalton Investments LLC with 165,906,485 shares, representing 19.73% of the issued shares[198]. - The company did not declare an interim dividend for the six months ended September 30, 2019, consistent with the previous year[116].

Financial Performance - Revenue for the fiscal year ended March 31, 2019, increased by 26% to HKD 2,420 million compared to HKD 1,925 million in 2018[10] - Operating profit rose by 15% to HKD 1,969 million from HKD 1,717 million year-on-year[10] - Net profit attributable to shareholders decreased slightly by 0.5% to HKD 810 million from HKD 814 million[10] - The group's revenue for the year was HKD 2,420,000,000, an increase from HKD 1,925,000,000 in the previous year, driven by increased investment income from reinvested interest and further investments in debt securities[26] - The attributable profit to shareholders was HKD 810,000,000, slightly down from HKD 814,000,000 in the previous year, due to higher investment losses and increased financing costs[26] - Gross profit for the same period was HKD 2,132 million, up from HKD 1,602 million, reflecting a growth of 33.0%[52] - Operating profit increased to HKD 1,969 million from HKD 1,717 million, marking a growth of 14.7%[52] - The group reported a net asset value of HKD 31,401 million, up from HKD 29,273 million, which is an increase of 7.3%[52] Assets and Liabilities - Total assets increased by 14% to HKD 43,673 million, while net assets rose by 4% to HKD 24,830 million[10] - The group reported a net debt of HKD 16.39 billion as of March 31, 2019, compared to HKD 12.263 billion in 2018, with a debt-to-revalued net asset ratio of approximately 52%[41] - The group's total assets were valued at approximately HKD 43.7 billion as of March 31, 2019, an increase from HKD 38.4 billion in 2018, reflecting a 15% increase in revalued asset value[41] - The group maintained a cash and undrawn bank financing balance exceeding HKD 7.7 billion as of March 31, 2019, compared to HKD 6.6 billion in 2018[41] Property Development and Investments - The company expects to launch three joint real estate development projects in the upcoming fiscal year, including a 2,300,000 square feet commercial/residential project in Beijing[15] - The group continues to focus on property development in prime locations in Hong Kong, first-tier cities in China, and Vancouver, Canada, aiming to enhance its reputation and track record[22] - The group is progressing with various property development projects, including a residential project in Beijing with a floor area of 2,300,000 square feet, and a luxury residential project in Hong Kong[31][32] - The group has achieved contract sales of CAD 140,000,000 for the "Landmark on Robson" project in Vancouver, which includes two residential towers[35] - The group has ongoing projects with a total estimated floor area of approximately 2,360,000 square feet in Beijing, expected to be completed by 2022[50] Hotel and Tourism Performance - The hotel performance continued to improve due to the new operations at the Kowloon High-Speed Rail Station and the addition of 90 hotel rooms at the Tsim Sha Tsui hotel[15] - For the fiscal year, the revenue from the hotel and tourism segment was HKD 543 million, an increase from HKD 530 million in the previous year, with an average occupancy rate of approximately 93%[38] - The new hotel, Tsim Sha Tsui Regal Hotel, opened in December 2018, achieved an occupancy rate of over 90% within its first four months of operation[38] - The average room rate increased by 10% during the fiscal year, contributing to the overall performance of the hotel segment[38] - The group has a diversified portfolio of investment properties and financial investments, providing stable and recurring income sources[23] Financial Investments - Financial investment income increased by 50%, becoming a major pillar of the company's recurring income and liquid assets[16] - The total value of financial investments held by the group was approximately HKD 17.609 billion as of March 31, 2019, up from HKD 14.101 billion in 2018[38] - The income from the investment portfolio increased to HKD 1.635 billion in 2019, up from HKD 1.09 billion in 2018, driven by further investments in debt securities[40] Debt Management - The company’s debt increased by 34% to HKD 16,390 million compared to HKD 12,263 million in the previous year[10] - The group is actively managing its debt and repayment risks, maintaining a strong financial position with robust liquidity and reasonable debt-to-asset ratios[24] Environmental and Social Responsibility - Total greenhouse gas emissions for 2019 were 14,083 tons, a decrease from 15,159 tons in 2018, representing a reduction of approximately 7.1%[62] - Energy consumption decreased to 19,386,000 kWh in 2019 from 20,177,000 kWh in 2018, reflecting a reduction of about 3.9%[63] - Water consumption increased to 237,193 cubic meters in 2019, up from 194,811 cubic meters in 2018, indicating an increase of approximately 21.6%[63] - The company has implemented energy-efficient systems in its hotels, including the replacement of air conditioning systems with more efficient water-cooled systems[62] - The company has committed to using sustainable materials in property development, aiming for green building certification for new projects[64] - The company made charitable donations totaling HKD 1,197,000 to various organizations, including Caritas and the Hong Kong Paralympic Committee[96] - The group made charitable donations amounting to HKD 1,197,000 during the year, significantly lower than HKD 7,561,000 in the previous year[177] Corporate Governance - The board held four meetings during the year, with all directors actively participating in the decision-making process[105] - The board confirmed its responsibility for preparing financial statements and ensuring compliance with relevant laws and regulations[105] - The company adhered to the corporate governance code, with some deviations noted regarding the appointment terms of independent non-executive directors[115] - The board emphasized the importance of diversity in its composition, considering factors such as gender, age, and industry experience[106] - The company has established a risk management framework to achieve its business objectives, with the board overseeing the effectiveness of the risk management and internal control systems[116] - The internal audit function employs a risk-based approach, focusing on high-risk areas of the business, and reports findings to senior management[120] - The company has established a standard code for securities transactions by directors, ensuring compliance throughout the year[112] Shareholder Communication - The board of directors is committed to providing high transparency to shareholders and investors, holding multiple meetings with local and institutional investors throughout the year[137] - The company has a website for shareholders and the public to access timely information about its operations[138] - The company has established procedures for shareholders to submit inquiries to the board, ensuring open communication[139]