Financial Performance - For the six months ending December 31, 2020, the group's unaudited profit attributable to shareholders was HKD 1.617 billion, down from HKD 1.460 billion in 2019, representing a decrease of approximately 10.5%[8] - The basic earnings per share for the interim period were HKD 0.61, compared to HKD 0.78 in 2019, reflecting a decline of about 21.8%[8] - After accounting for a revaluation loss of investment properties of HKD 466 million, the profit attributable to shareholders for the interim period was HKD 692.5 million, down from HKD 1.491 billion in 2019, a decrease of approximately 53.6%[8] - The basic earnings per share, including the revaluation loss, were HKD 0.36, compared to HKD 0.80 in 2019, indicating a decline of about 55%[8] - Revenue for the six months ended December 31, 2020, was HKD 4,117,082,293, an increase of 28.8% from HKD 3,194,211,241 in the same period of 2019[26] - Gross profit for the same period was HKD 2,206,256,072, compared to HKD 1,880,982,114 in 2019, reflecting a growth of 17.3%[26] - The net profit for the period was HKD 1,271,092,873, down 54.3% from HKD 2,782,543,442 in the previous year[26] - Total comprehensive income for the period was HKD 2,356,349,298, down 9.1% from HKD 2,593,162,724 year-on-year[28] - The company's non-current assets amounted to HKD 108,084,129,715 as of December 31, 2020, compared to HKD 107,109,780,881 as of June 30, 2020, reflecting a slight increase of 0.9%[29] - Current assets totaled HKD 81,349,500,410, an increase from HKD 80,668,495,460 as of June 30, 2020, indicating a growth of 0.84%[29] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.14 per share, consistent with the previous year's dividend[9] - The company declared an interim dividend of HKD 0.14 per share, totaling HKD 269,420,440, consistent with the previous year's interim dividend[57] Property Sales and Revenue - Total property sales revenue for the interim period was HKD 2.018 billion, an increase from HKD 1.886 billion in 2019[11] - The company sold 97% of residential units at 1 Kowloon Road and 64% at Xinhui Yulong Tianxia Phase III[11] - Revenue from property sales was HKD 1,949,855,362, significantly up from HKD 412,238,609 in the previous year, indicating a growth of approximately 373.5%[42] - The group's operating profit for property sales was HKD 781,561,052, compared to HKD 23,624,741 in the previous year, showing a substantial increase[44] Rental Income and Occupancy - Total rental income for the interim period was HKD 1.842 billion, a decrease of 12.6% from HKD 2.107 billion in 2019[17] - Net rental income decreased by 10.9% to HKD 1.629 billion from HKD 1.828 billion in 2019[17] - The overall occupancy rate for investment properties was approximately 90%, down from 96% in 2019[17] Investment Properties and Valuation - The total value of investment properties was HKD 83.155 billion, a slight decrease of 0.28% from HKD 83.385 billion in June 2020[18] - The fair value loss on investment properties for the six months ended December 31, 2020, was HKD 534,848,712, contrasting with a fair value gain of HKD 169,336,043 for the same period in 2019[62] - The net fair value change attributable to the group's investment properties was HKD 466,006,007 for the six months ended December 31, 2020, compared to a loss of HKD 59,611,086 for the same period in 2019[61] Financial Position and Cash Flow - As of December 31, 2020, the group had cash and bank deposits of HKD 42.615 billion, with net cash amounting to HKD 35.899 billion after deducting total borrowings of HKD 6.72 billion[20] - The company’s cash and cash equivalents decreased to HKD 4,542,045,148 from HKD 6,081,049,352, a decline of 25.4%[29] - Cash generated from operating activities was HKD 209,984,376, a significant decrease from HKD 5,496,071,849 in the previous year[35] - The cash and cash equivalents at the end of the period were HKD 13,180,090,253, down from HKD 30,551,244,390 year-over-year[36] - The company reported a decrease in cash and cash equivalents of HKD (10,212,361,152) for the six months ended December 31, 2020[36] Sustainability and Corporate Governance - The group aims to reduce carbon emissions by 30% by 2030, using 2012 as the baseline, having already achieved a 17.73% reduction by June 2019[21] - The group received the "Corporate Governance Excellence Award" and the "Sustainable Development Excellence Award" at the Hong Kong Corporate Governance Excellence Awards in December 2020[21] - The group has established a series of sustainability goals covering carbon reduction, renewable energy, and green building certifications[21] - The group emphasizes corporate governance, integrity, and business ethics as the foundation for creating long-term value for stakeholders[21] Future Plans and Strategies - The company plans to obtain five additional pre-sale consent letters for residential projects in 2021[11] - The company aims to enhance its land reserves selectively to improve profitability[12] - The company plans to launch five residential projects in 2021, which are expected to receive pre-sale consent[24] - The company aims to enhance operational efficiency and product quality through selective land reserve strategies and technology applications[24] - The company has initiated an innovation program in collaboration with Ping An Smart City to foster real estate technology solutions in the Greater Bay Area[22] - The company is optimistic about the Hong Kong property market, citing stable housing demand and favorable mortgage terms[24] Shareholding Structure - The company’s directors hold a significant stake, with Mr. Huang Zhi Xiang owning 1,387,150,124 shares, representing 72.08% of the issued shares[86] - Major shareholder Mr. Huang Zhi Da owns 1,389,270,307 shares, accounting for 72.19% of the issued shares, including 2,865,116 shares held by controlled entities[91] - The ownership structure indicates a high concentration of shares among a few major shareholders, reflecting potential governance implications[91] Financial Reporting and Compliance - The company has prepared the condensed consolidated financial statements in accordance with Hong Kong Accounting Standards No. 34[106] - The review of the financial statements was conducted based on the Hong Kong Institute of Certified Public Accountants' review standards, which is less comprehensive than an audit[107] - No significant issues were found that would lead to the belief that the financial statements were not prepared in accordance with the relevant accounting standards[107]