Financial Performance - Revenue for the year ended December 31, 2021, was HK$12,885,638, an increase of 68.9% from HK$7,661,646 in 2020[14] - Profit for the year was HK$631,807, up from HK$437,340 in 2020, representing a growth of 44.4%[14] - Basic earnings per share decreased to 2.67 HK cents in 2021 from 3.36 HK cents in 2020, a decline of 21%[19] - Operating profit for 2021 was HK$1,193,649, up from HK$652,873 in 2020, reflecting an increase of 82.9%[23] - The Group achieved consolidated revenue of approximately HK$12,886 million in 2021, representing a year-on-year increase of 68.2%[63] - Net profit for the year was approximately HK$632 million, reflecting a year-on-year increase of 44.6%[63] - The consolidated gross profit margin improved by 2.4 percentage points to 18.5% compared to the previous year[102] - The Group's net profit for the year increased by 44.6% to HK$632 million, while profit attributable to equity holders dropped by 20.5% to HK$89 million[162] Assets and Liabilities - Total assets as of December 31, 2021, were HK$77,173,244, compared to HK$68,387,737 in 2020, reflecting a growth of 12.6%[14] - Net debt was HK$8,983 million with a net gearing ratio of 38.9%, down from HK$11,139 million and 49.7% in 2020, indicating a reduction of 19% in net debt[19] - The Group's gearing ratio rose to 70.0%, up 2.8 percentage points, primarily due to the redemption of US$200 million senior perpetual bonds[171] - Total borrowings stood at HK$21,017 million, an increase from HK$19,571 million, mainly due to bank loans replacing senior perpetual bonds[171] - The weighted average borrowing cost remained low at approximately 3.6%[171] Dividends - Dividend per share remained stable at 2.0 HK cents, with a dividend payout ratio increasing to 74.9% from 59.5% in 2020, a rise of 15.4 percentage points[19] - The final dividend for 2021 was recommended at HK1 cent per share, along with a special dividend of HK1 cent per share, totaling HK2 cents per share[63] Land Bank and Development Projects - The Group's land bank totaled 8,937,000 sq.m., with the Pan Bohai Rim region accounting for 32% of this total[28] - The Group's total land bank increased to 8.937 million square meters from 8.50 million square meters at the end of 2020, after acquiring 12 land parcels during the year[77] - The expected construction completion date for a new residential project in Jiangxintun Town is set for Q4 2024, with a site area of approximately 550,000 square meters and a construction floor area of approximately 1,285,000 square meters, where the group holds a 50% interest[34] - The Group's interest in Changsha Wanjing Yayuan is 51% with an expected construction completion date in Q2 2024[43] Market Position and Recognition - The Group was recognized as a top 100 Chinese real estate company in 2021, highlighting its market position[21] - The company received the 2021 China Real Estate Association Science and Technology Award, showcasing its commitment to innovation[21] - Minmetals Land Limited was awarded the Best Sustainability Bond in the Triple A Country Awards 2021, emphasizing its focus on sustainable finance[21] Strategic Initiatives and Future Outlook - The company is focusing on expanding its real estate development business across key regions including the Pan Bohai Rim and Yangtze River Delta[5] - Future outlook includes continued investment in specialized construction and property investment to enhance market presence[5] - The company plans to explore new technologies in real estate development to improve operational efficiency[5] - Strategic initiatives may include potential mergers and acquisitions to bolster growth in competitive markets[5] Financing and Sustainable Bonds - The Company successfully issued US$300 million sustainable bonds, marking the first offshore sustainable bond issued by a state-owned real estate enterprise[81] - The inaugural sustainable bond issuance of US$300 million was successfully completed in July 2021, receiving an overwhelming response with 6 times oversubscription[195] - The bond achieved the highest rating of E1 from S&P's rating regime and received a Green Finance Certificate from HKQAA[195] - Proceeds from the sustainable financing transactions will fund projects aligned with environmental and social benefits, including renewable energy and green buildings[195] Operational Efficiency and Cost Management - The Group maintained finance costs at a relatively low level of 3.6% for the year[80] - The Group's finance costs increased due to a rise in interest rates affecting floating rate borrowings[183] - The Group's working capital was mainly derived from cash flows from operations and borrowings, including the issuance of US$300 million sustainable bonds[171] Challenges and Market Conditions - The Group's proactive response to market changes allowed it to exceed its full-year sales target despite a challenging market environment[69] - The company adopted a conservative bidding strategy in its specialized construction business due to increased market competition and cost risks, resulting in fewer new projects[113][115]

五礦地產有限公司 MINMETALS LAND LIMITED (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) Stock Code 股份代號：230 2021 Interim Report 中 期 報 告 0 0 0 關 於 五礦地產 ABOUT MINMETALS LAND Minmetals Land Limited is a subsidiary and the sole listed real estate flagship of China Minmetals Corporation in Hong Kong. Minmetals Land Limited's principal business includes real estate development and specialised construction. Currently, its real estate development business covers the Pan Bohai Rim, Yangtze River Delta, Cent ...

五礦地產有限公司 MINMETALS LAND LIMITED (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) Stock Code 股份代號：230 2020 Annual Report Huizhou Hallstatt See 惠州五礦 • 哈施塔特 THE MISSELVES 傳遞 下 MINMETALS LAND Fall - 100 | --- | --- | --- | --- | |-----------------------------|-------|------------------|-------| | 蘭 藍 東 岸 MONTEGO BAY | | | | | | | AND | | | | | AL MI MI 181 121 | | | | | | | | --- | --- | |-------------|---------------------------------------------------------------------------------------------- ...

五礦地產有限公司 MINMETALS LAND LIMITED (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) Stock Code 股份代號：230 | --- | --- | --- | --- | --- | --- | |-------|--------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | the production and the program and the submit of | | | | | | l | 2 | | | | | | | | | | | | 2020 'nterim Report ABOUT MINMETALS LAND 關 於 五 礦 地 產 | --- | --- | |--------------------------------------------- ...

五礦地產有限公司 MINMETALS LAND LIMITED (Incorporated in Bermuda with limited liability) (於百慕達註冊成立之有限公司) Stock Code 股份代號：230 2019 # 報 u 12 1 B D ABOUT MINMETALS LAND 關於五礦地產 Minmetals Land Limited is a subsidiary and the sole listed real estate flagship of China Minmetals Corporation in Hong Kong. Minmetals Land Limited's principal business includes real estate development and specialised construction. Currently, its real estate development business covers the Pearl River Delta, Yangtze River Delta and Pan Bohai Rim ...

Financial Performance - Revenue for the six months ended June 30, 2019, was HK$5,601 million, a decrease of 5.9% compared to HK$5,953 million in 2018[22] - Profit attributable to equity holders of the Company increased by 14.2% to HK$814 million for the same period, up from HK$713 million in 2018[22] - Basic earnings per share for profit attributable to equity holders rose by 14.1% to 24.32 HK cents, compared to 21.32 HK cents in 2018[22] - The Group's consolidated revenue for the first half of 2019 was HK$5,600.5 million, a decrease of 5.9% compared to HK$5,953.0 million in the same period last year[37] - Revenue from the real estate development segment declined by 6.6% to HK$5,128.3 million, attributed to pricing restrictions and a change in product mix[37] - The specialized construction segment recorded a slight revenue increase of 2.0% to HK$436.2 million, due to the completion of several projects in Mainland China[37] - Property investment revenue grew by 5.9% to HK$36.0 million, mainly due to rental increases in accordance with lease agreements[37] - Overall gross profit margin decreased from 39.8% to 35.5% due to a decline in the proportion of higher-margin projects recognized[37] - The company recorded a valuation gain of HK$65.2 million for investment properties, compared to HK$73.1 million in the previous year[37] Assets and Liabilities - Total assets as of June 30, 2019, amounted to HK$48,443 million, reflecting a 2.5% increase from HK$47,253 million at the end of 2018[22] - Net debt increased by 3.8% to HK$11,671 million from HK$11,246 million in 2018[22] - The net gearing ratio improved to 74.2%, down from 75.9% in the previous period, indicating a decrease of 1.7 percentage points[22] - The Group's net assets increased by 6.2% to HK$15,724.1 million (31 December 2018: HK$14,810.5 million), primarily due to the increase in profit attributable to equity holders[45] - The gearing ratio improved to 67.5% (31 December 2018: 68.7%) and net gearing ratio decreased to 74.2% (31 December 2018: 75.9%)[45] - Contract liabilities decreased by 17.6% to HK$5,044.4 million (31 December 2018: HK$6,119.7 million), which will be recognized as revenue upon completion and delivery of presold properties[45] - The Group's total borrowings as of June 30, 2019, amounted to HK$16,260.7 million, an increase from HK$15,054.6 million at the end of 2018, with net borrowings at HK$11,671.1 million[145] - The Group's gearing ratio of net borrowings to total equity was 74.2% as of June 30, 2019, slightly down from 75.9% at the end of 2018[145] Projects and Developments - The group has a 51% interest in the Fortune Garden project, which has a gross floor area of approximately 414,000 square metres and is expected to be completed in 2018[24] - The Platinum Bay project has a site area of approximately 396,000 square metres and a gross floor area of about 391,000 square metres, with a 100% group interest[24] - Academic Royale project has a gross floor area of approximately 482,000 square metres and is expected to be completed in 2Q 2019, with a 100% group interest[26] - Enchanté Oasis project has a gross floor area of approximately 255,000 square metres and is expected to be completed in 2Q 2020, with a 100% group interest[26] - The Jiang Shan Da Jing project has a gross floor area of approximately 285,000 square metres, with a group interest of 39.8% and expected completion in 3Q 2019[26] - Scotland Town project has a gross floor area of approximately 442,000 square metres and is fully owned by the group, completed in 2013[30] - Enchanté Crest project has a gross floor area of approximately 178,000 square metres, with a 100% group interest and expected completion in 3Q 2020[30] - The expected completion date for the high-rise of Phase IV at Hallstatt See is in 4Q 2021[33] - The expected completion date for the Changlingju Project is in 4Q 2023[34] Sales and Market Performance - Total contracted sales increased by 46.2% to RMB4,110 million in the first half of 2019, compared to RMB2,812 million in the same period of 2018[69] - The gross floor area contracted for sale rose by 24.1% to 232,000 square meters, up from 187,000 square meters in the first half of 2018[69] - The average selling price (ASP) increased by 17.2% to approximately RMB17,700 per square meter, compared to RMB15,100 per square meter in the previous year[69] - The contracted sales for the project "Huizhou Hallstatt See" reached RMB414 million with a contracted GFA of 46,677 square meters[73] - The project "Foshan Academic Royale" achieved contracted sales of RMB444 million with a GFA of 15,352 square meters[73] - The total contracted sales for the first half of 2019 included residential, commercial, and car park units[74] - The ASP difference between 2018 and 2019 was mainly attributed to changes in product mix[75] - The company focused on improving the quality of real estate development projects and accelerating turnover and scale development in the first half of 2019[69] Operational Efficiency - Selling expenses decreased to HK$55.8 million from HK$63.9 million as sales and promotion activities were reduced[39] - Administrative and other expenses slightly slid to HK$205.5 million from HK$210.8 million due to strict control over operating expenses[39] - The total number of staff increased by 13.8% to 940 as of June 30, 2019, primarily due to an expanding team for real estate development projects[160] - The total remuneration and benefits for the Directors and staff for the first half of 2019 were approximately HK$134 million, compared to HK$127.7 million in the same period of 2018[160] Corporate Governance - China Minmetals held a substantial interest of 2,071,095,506 shares, representing approximately 61.88% of the total issued shares as of June 30, 2019[173] - The company complied with the Corporate Governance Code provisions throughout the six months ended June 30, 2019, with a noted deviation regarding the election of directors[177] - Directors appointed to fill casual vacancies are subject to election at the first annual general meeting after their appointment, rather than the first general meeting[178] - The company has established guidelines for securities transactions that comply with the Model Code as set out in the Listing Rules[179] - All directors confirmed compliance with the securities transaction rules throughout the six months ended June 30, 2019[180] - The Company has adhered to the corporate governance code as of June 30, 2019, with the exception of certain deviations regarding the election of directors[181] - The Company has not purchased, sold, or redeemed any of its listed securities during the six months ended June 30, 2019[183]

Financial Performance - Revenue for the year ended December 31, 2018, was HK$11,935.5 million, representing a decrease of 8.4% compared to HK$10,930.8 million in 2017[24] - Profit attributable to equity holders of the Company increased by 31.1% to HK$935 million from HK$713 million in the previous year[24] - Basic earnings per share rose to 27.94 HK cents, up 31.1% from 21.32 HK cents in 2017[24] - Operating profit for 2018 was HK$3,425,762, down 3.0% from HK$3,530,528 in 2017[29] - Profit for the year increased to HK$1,747,143, up 20.7% from HK$1,448,801 in 2017[29] - The Group's consolidated revenue decreased by 8.4% to HK$10,930.8 million compared to HK$11,935.5 million in the previous year[74] - Profit attributable to equity holders surged by 31.1% to HK$935.0 million, with basic earnings per share increasing to HK27.94 cents from HK21.32 cents[82] Assets and Liabilities - Total assets as of December 31, 2018, were HK$47,253 million, a decrease of 3.6% from HK$49,018 million in 2017[24] - Total assets decreased to HK$47,252,777 from HK$49,018,381 in 2017, a decline of 3.6%[29] - Total equity increased to HK$14,810,451, up 8.8% from HK$13,602,538 in 2017[29] - Non-current liabilities rose to HK$14,172,783, an increase of 29.0% from HK$10,938,718 in 2017[29] - Current liabilities decreased to HK$18,269,543, down 25.3% from HK$24,477,125 in 2017[29] - The Group's gearing ratio improved to 68.7% from 72.3% in the previous year, indicating a healthier financial position[82] Debt and Financing - Net debt increased by 32.4% to HK$11,246 million from HK$8,493 million in the previous year[24] - The net gearing ratio rose to 75.9%, an increase of 13.5 percentage points from 62.4% in 2017[24] - The company issued US$200 million of senior perpetual capital securities and US$300 million of senior notes with interest rates of 7% and 6.4% respectively[42] - A loan agreement worth HK$3.5 billion was signed with local banks, with a maximum tenor of four years[42] - The company obtained an asset-backed notes quota of RMB5 billion in China and successfully issued the first tranche of ABN products during the year[42] Real Estate Development - The Company operates in key regions including the Pan Bohai Rim, Yangtze River Delta, Central China, Pearl River Delta, and Hong Kong, with a focus on expanding its real estate development and specialized construction businesses[4] - The company secured two parcels of land in Huangpu District, Guangzhou at base price during the fourth quarter, enhancing its strategic positioning in the Greater Bay Area[39] - As of the end of 2018, the group's land bank amounted to 4.56 million square meters, with approximately 68% located in first-tier and core second-tier cities[39] - The company is actively developing new projects, including "Guangzhou Maoganglu Project" and "Guangzhou Changlingju Project," both with 100% attributable interest and significant GFA under development[98] - The overall market strategy includes a focus on both residential and commercial properties, with a diverse portfolio aimed at capturing various segments of the real estate market[91] Market Conditions and Strategy - The company anticipates signs of relaxation in real estate policies in 2019 due to significant downward pressure on domestic economic growth and high corporate leverage levels[58] - The focus for the industry will remain on deleveraging and destocking, with monetary policies expected to be neutral or slightly proactive to ensure sufficient market liquidity[58] - The National Development and Reform Commission indicated support for high-quality real estate enterprises to issue bonds under certain conditions, interpreted as a loosening in the financing environment[58] - The company aims to improve turnover efficiency and minimize market risks while ensuring cash flow generation as top operational priorities[60] - The company will adhere to prudent financial management principles, closely monitor gearing ratios, and optimize capital structure[64] Awards and Recognition - Minmetals Land Limited was recognized as one of the "Top 100 Commercial Property Companies of China 2018" and received several awards for its real estate development efforts[26] - The company was awarded "2018 China Influential Real Estate Enterprise" and "2018 China Real Estate Central Enterprises Excellence Brand" awards[46] Property Investment - Revenue from the property investment segment increased by 10.0% to HK$70.4 million in 2018, with LKF 29 achieving a 100% occupancy rate and China Minmetals Tower at 92.3%[198] - The investment property portfolio in Hong Kong includes two commercial office buildings and four residential units, totaling a gross floor area of 15,826 square meters[194] Specialized Construction - Revenue from the specialized construction segment decreased by 2.3% to HK$941.7 million in 2018, while operating profit improved significantly to HK$1.6 million from an operating loss of HK$123.7 million in 2017[188] - The specialized construction segment secured new tenders amounting to over RMB 700 million, with projects on hand totaling approximately RMB 1 billion as of December 31, 2018[192]