Financial Performance - The group's revenue for the fiscal year 2023 was HKD 11,928,929,454, a decrease of 23.4% compared to HKD 15,597,640,466 in 2022[7] - The underlying operating profit for 2023 was HKD 3,419,559,446, down from HKD 3,599,804,393 in 2022, reflecting a decline of 5%[7] - The attributable profit to shareholders for 2023 was HKD 3,287,132,467, compared to HKD 3,159,245,014 in 2022, marking an increase of 4%[7] - Basic earnings per share for 2023 were HKD 168.42, a decrease from HKD 182.67 in 2022[7] - The total equity attributable to shareholders increased to HKD 91,590,199,461 in 2023 from HKD 88,258,646,727 in 2022, representing a growth of 2.6%[11] - The company declared a final dividend of HKD 0.43 per share for 2023, up from HKD 0.42 per share in 2022[5] Asset and Liability Management - The company reported a total of HKD 68,645,175,002 in current assets for 2023, a decrease from HKD 72,381,881,098 in 2022[11] - Non-current assets increased to HKD 112,404,573,768 in 2023 from HKD 108,335,065,373 in 2022, indicating a growth of 3.9%[11] - The company’s total liabilities decreased to HKD 78,483,033,266 in 2023 from HKD 77,282,492,711 in 2022, reflecting a reduction of 1.5%[11] Property Sales and Development - Property sales accounted for 42.2% of the total revenue, while property leasing contributed 44.6%[18] - The group achieved property sales revenue of HKD 11.973 billion, an increase from HKD 10.841 billion in the previous fiscal year[35] - The group plans to launch multiple new residential projects, including Kai Pak Fung III and ONE CENTRAL PLACE, with a new project in Yau Tong expected to receive pre-sale consent in the fiscal year 2023/2024[37] - The group completed several property development projects, including Silversands and St. George's Mansions, with a total floor area of 1,098,479 square feet[41] Rental Income and Occupancy - Total rental income for the fiscal year was HKD 3.548 billion, a decrease of 1.1% year-on-year[49] - Net rental income was HKD 2.985 billion, down 3.7% from HKD 3.101 billion in the previous fiscal year[49] - Overall occupancy rate for the investment property portfolio was 91.2%, an increase of 0.4 percentage points year-on-year[50] - Commercial properties saw the largest increase in occupancy rate, rising 2.1 percentage points to 95%[50] Hotel Operations - Hotel operating revenue was HKD 1.375 billion, significantly up from HKD 0.582 billion in the previous year[54] - The company recorded significant improvements in hotel performance during the second half of the fiscal year, particularly benefiting from major events like the Basel Art Fair and the Hong Kong Sevens[55] - The company plans to reopen the Hong Kong Ocean Park Hotel in Q4 2023 with new business and operational strategies after undergoing improvement works since December 2021[58] Sustainability and Corporate Social Responsibility - The company has been recognized as a leader in sustainability, achieving an AA rating in the Hang Seng Sustainability Index and being selected as one of the top ten companies in the Greater Bay Area Sustainability Index[65] - The company has engaged external consultants to conduct climate risk assessments for over 170 existing and new properties, becoming one of the first developers in Hong Kong to publish an independent climate action report[69] - The company is committed to achieving net-zero carbon emissions by 2050 as part of the "Business Ambition for 1.5°C" global initiative[97] - SINO Land partnered with local NGOs to support over 10,000 underprivileged individuals through various community initiatives[94] Governance and Corporate Structure - The board consists of seven directors, including two executive directors and three independent non-executive directors, ensuring diverse skills and expertise[152] - The company has established four board committees, including the remuneration, nomination, audit, and compliance committees, to enhance board functionality[156] - The company is committed to adhering to the highest standards of business ethics and corporate governance, which is crucial for becoming the preferred choice for customers, investors, and employees[150] Employee Training and Development - The company conducted over 156,500 hours of employee training in the fiscal year, representing a 47.71% increase from the 2019 baseline[108] - The company aims for 100% of employees to receive ESG-related training by 2025[95] - As of June 30, 2023, 51% of employees, including senior management, are female, with women holding 41% of management positions[185] Market Outlook and Economic Environment - The company is preparing for business recovery as the economic environment improves following the easing of pandemic-related restrictions, while remaining vigilant to market changes[75] - The macroeconomic environment in Hong Kong is expected to improve significantly in the second half of the fiscal year due to the reopening of borders with mainland China and various government initiatives to attract tourists and businesses[79] - The population of Hong Kong increased from 7.3 million in mid-2022 to 7.5 million in mid-2023, contributing to a cautiously optimistic outlook for the property market[80]

Financial Performance - For the fiscal year ending June 30, 2023, the group's basic profit attributable to shareholders was HKD 3.4195 billion, a slight decrease from HKD 3.598 billion in the previous fiscal year, resulting in a basic earnings per share of HKD 1.68 compared to HKD 1.82[1] - The group's profit, including a non-cash investment property revaluation loss of HKD 902 million, was HKD 3.2871 billion, up from HKD 3.1592 billion in the previous year, with earnings per share of HKD 1.61 compared to HKD 1.60[1] - The group's revenue for the fiscal year was HKD 11,928,929,454, a decrease from HKD 15,597,640,466 in the previous year, reflecting a decline of approximately 23%[32] - The net profit for the year was HKD 5,910,404,500, slightly down from HKD 5,956,886,085, indicating a decrease of about 0.77%[33] - Total comprehensive income for the year was HKD 5,434,345,209, a decrease from HKD 5,503,148,836 in the previous year[34] Dividends - The board proposed a final dividend of HKD 0.43 per share, bringing the total dividend for the fiscal year to HKD 0.58 per share, including an interim dividend of HKD 0.15[2] Property Sales and Development - The property sales revenue for the fiscal year was HKD 11.973 billion, an increase from HKD 10.841 billion in the previous year, primarily from completed residential units and parking spaces[4] - The company sold 23.6% of the residential project in Tseung Kwan O, and other projects had sales percentages ranging from 22.3% to 88%[5] - The company has multiple new projects planned for sale, including ONE CENTRAL PLACE in Central and a residential project in Yau Tong, pending pre-sale consent[5] - As of June 30, 2023, the company held land reserves of approximately 19.5 million square feet, with a balanced property type distribution: 46.8% commercial, 27.9% residential, 11.3% industrial, 8% parking, and 6% hotel[6] - The company received development rights for a residential project in Hong Kong, with a total floor area of 185,278 square feet[7] Rental Income and Occupancy - Total rental income for the fiscal year was HKD 3.548 billion, a decrease of 1.1% year-on-year[13] - Net rental income for the fiscal year was HKD 2.985 billion, down 3.7% from the previous year[13] - Overall occupancy rate for investment properties was 91.2%, an increase of 0.4 percentage points year-on-year[13] - Retail properties saw the largest increase in occupancy rate, rising 2.1 percentage points to 95%[14] Hotel Operations - The hotel operating revenue for the fiscal year was HKD 1.37555 billion, up from HKD 582.7 million last year, with an operating profit of HKD 451.7 million compared to HKD 92.9 million in the previous year[16] - In July 2023, inbound travelers reached 3.6 million, the highest level since the COVID-19 outbreak, benefiting the hotel industry as international travel resumes[16] - The company plans to reopen the Hong Kong Ocean Park Hotel in Q4 2023 with new business and operational strategies after renovations[16] - The company has implemented cost control measures while enhancing hotel service quality and efficiency in response to inflation[16] Financial Position - As of June 30, 2023, the company had cash and bank deposits of HKD 44.825 billion, with net cash of HKD 42.0534 billion after deducting total borrowings of HKD 2.77111 billion[19] - The company maintains a strong financial position with a total asset value of HKD 181.0497 billion and total equity of HKD 91.5902 billion as of June 30, 2023[19] - The company’s net cash position allows it to benefit from a high-interest environment, as all borrowings are based on floating interest rates[19] Sustainability and Corporate Governance - 信和置业在2022年全球房地产可持续标准（GRESB）中获得五星级别，成为全球业界领导者[24] - 信和置业被评为亚太区域ESG最高评级企业，并在MSCI环境、社会及治理指数中评级上调至AA级[24] - 信和置业与香港创新基金及其他合作伙伴推出香港首个珊瑚保育计划，旨在修复香港南部海域的珊瑚礁[25] - 信和置业的企业创新计划吸引超过3000个来自70个国家的解决方案，推动房地产科技发展[26] - 信和置业在香港可持续发展奖中获得大型机构组别的香港可持续发展大奖，肯定其ESG努力[24] Market Outlook - The company is optimistic about the medium to long-term prospects of the mainland real estate market, supported by recent government policies to stimulate growth[18] - The Hong Kong residential market outlook remains cautiously optimistic, supported by an increase in population from 7.3 million in mid-2022 to 7.5 million in mid-2023[29] - The group anticipates a gradual recovery in the business environment, aided by clearer interest rate prospects, which will support the Hong Kong residential market[30] Commitments and Guarantees - The group has provided financial guarantees for bank loans to joint ventures and associates, with utilized guarantees amounting to HKD 7,073,251,812 and unutilized guarantees at HKD 3,019,040,843 as of June 30, 2023, totaling HKD 10,092,292,655[62] - The group's capital commitments as of June 30, 2023, include contracted amounts of HKD 41,797,197 and authorized but not contracted amounts of HKD 186,564, totaling HKD 41,983,761[63] Corporate Governance - The company has adopted its own corporate governance code based on the principles and code provisions of the Corporate Governance Code, complying with all code provisions during the fiscal year[66] - The board of directors has determined that the long tenure of independent non-executive directors does not affect their ability to provide independent and objective opinions[67] - The audited consolidated financial statements for the year ended June 30, 2023, have been reviewed by the company's audit committee[68] - The annual report for 2023 will be sent to all shareholders around September 29, 2023, in compliance with the Listing Rules[68]

Financial Performance - For the six months ending December 31, 2022, the group reported an interim performance excluding the impact of fair value changes in investment properties[8]. - The company's revenue for the six months ended December 31, 2022, was HKD 6,406,167,141, a decrease of 41.5% compared to HKD 10,913,891,469 for the same period in 2021[34]. - Gross profit for the same period was HKD 2,783,321,404, down from HKD 5,538,848,425, reflecting a decline of 49.9%[34]. - The net profit for the period was HKD 2,463,702,889, a decrease of 43.6% from HKD 4,378,095,767 in the previous year[34]. - Basic earnings per share decreased to HKD 0.68 from HKD 1.19, representing a decline of 42.9%[34]. - Total comprehensive income for the period was HKD 2,245,806,130, down from HKD 4,498,251,657 year-on-year, reflecting a decline of 50%[36]. - The total profit attributable to shareholders for the six months ended December 31, 2022, was HKD 1,559,224,277, compared to HKD 2,395,460,913 for the same period in 2021, indicating a decline of about 34.9%[67]. - The company reported a financial gain of HKD 589,310,036 for the period, significantly up from HKD 132,032,200 in the previous year[34]. Dividend Information - The interim dividend proposed is HKD 0.15 per share, with the expected dispatch date for dividend statements around April 18, 2023[7]. - The interim dividend declared was HKD 0.15 per share, consistent with the previous year[9]. - The company declared an interim dividend of HKD 0.15 per share for the six months ended December 31, 2022, totaling HKD 306,639,659, which is an increase from HKD 298,908,004 for the same period in 2021[63]. Property Sales and Development - The total property sales revenue attributable to the company was HKD 3.899 billion, down from HKD 8.49 billion in 2021[9]. - The company plans to launch multiple new projects, including ONE CENTRAL PLACE and other residential developments, with two additional projects expected to receive pre-sale consent in 2023[10]. - The company sold 98.4% of the units in the Kaihui project and 60.6% in the Victoria Harbour project[9]. - Property sales revenue amounted to HKD 3,947,351,849, down from HKD 8,685,166,816, reflecting a decline of 54.5% year-over-year[48]. Rental and Hotel Operations - Total rental income for the first half of the year was HKD 1.728 billion, a decrease of 3.8% year-on-year from HKD 1.799 billion[18]. - Net rental income decreased by 4.9% to HKD 1.480 billion compared to HKD 1.558 billion in the previous year[18]. - Hotel revenue for the period was HKD 689.28 million, significantly up from HKD 247.7 million in the same period last year[19]. - Hotel operations generated revenue of HKD 455,151,150, compared to HKD 194,913,796, representing a significant increase of 133.3% year-over-year[48]. Financial Position - The group reported a net cash position of HKD 413.21 billion as of December 31, 2022, after deducting total borrowings of HKD 40.168 billion[22]. - The total assets and shareholders' equity of the group were HKD 181.54 billion and HKD 89.74 billion, respectively, with a book net asset value per share of HKD 43.9 as of December 31, 2022[22]. - The company's total assets as of December 31, 2022, were HKD 160,966,278,011, reflecting a stable asset base[40]. - The company's equity attributable to shareholders increased to HKD 89,742,874,245 from HKD 88,258,646,727, reflecting a growth of 1.7%[39]. Sustainability and Corporate Governance - The group was awarded a five-star rating in the Global Real Estate Sustainability Benchmark (GRESB) assessment, recognizing its commitment to sustainable development[23]. - The group aims to integrate sustainable development into all aspects of its business operations, focusing on creating long-term value for stakeholders and the community[23]. - The company has implemented sustainable development measures, including the WELL™ certification for its new hotel project, which opened in July 2022[31]. - The company established a Compliance Committee to enhance corporate governance, which meets bi-monthly to review compliance reports and provide regulatory updates[122]. Market Outlook and Strategic Focus - The company continues to focus on strategic investments and market expansion to drive future growth[8]. - The company is optimistic about the recovery of hotel demand in core markets as leisure travel is expected to rise[21]. - The company anticipates that the easing of interest rate pressures and the reopening of China will support the Hong Kong residential market[31]. - The company remains focused on enhancing operational efficiency through digital platforms to improve customer engagement[31]. Shareholder Communication - The company has posted its interim report on its website, allowing shareholders to access it electronically or request printed copies[3]. - Shareholders can change their preferred method of receiving corporate communications by notifying the company's share registrar[4]. - The company is committed to enhancing shareholder communication through various channels, including email and fax[7]. Corporate Structure and Management - The board of directors includes independent non-executive members, ensuring corporate governance and oversight[7]. - The company has established a remuneration committee to oversee the compensation policies for all directors and senior management[119]. - The audit committee reviewed the accounting policies and practices adopted by the company for the six months ending December 31, 2022[121].

Financial Performance - The group's revenue for 2022 was HKD 15,597,640,466, a significant increase from HKD 5,934,504,668 in 2020, representing a growth of approximately 163%[7] - The underlying operating profit for 2022 was HKD 3,599,804,393, compared to HKD 2,471,844,783 in 2020, indicating a growth of about 45%[7] - The attributable profit to shareholders for 2022 was HKD 3,159,245,014, a decrease from HKD 5,304,883,959 in 2021, reflecting a decline of approximately 40%[7] - Basic earnings per share for 2022 were HKD 182.67, down from HKD 296.55 in 2021, representing a decrease of about 38%[7] - The total equity attributable to shareholders increased to HKD 88,258,646,727 in 2022 from HKD 85,066,433,045 in 2021, showing a growth of approximately 3%[11] - Non-current assets rose to HKD 108,335,065,373 in 2022, up from HKD 107,683,895,041 in 2021, indicating a slight increase of about 0.6%[11] - Current assets decreased to HKD 72,381,881,098 in 2022 from HKD 74,979,764,015 in 2021, representing a decline of approximately 3%[11] - The total liabilities decreased from HKD 79,560,091,699 in 2021 to HKD 77,281,992,711 in 2022, indicating a reduction of about 2.9%[11] Dividends - The group declared a final dividend of HKD 0.42 per share for 2022, compared to HKD 0.41 per share in 2021, reflecting a 2.4% increase[7] - The board proposed a final dividend of HKD 0.42 per share, which, combined with an interim dividend of HKD 0.15, totals HKD 0.57 per share for the fiscal year[17] Property Sales and Revenue Sources - Property sales accounted for 60.1% of the group's revenue, while property leasing contributed 35.3%, and other services made up 2.5%[15] - Total property sales revenue for the fiscal year was HKD 10.8418 billion, a decrease from HKD 18.5964 billion in the previous fiscal year, representing a decline of approximately 41.5%[19] - The revenue from property management and other services was 2.4% of total revenue, indicating a stable but minor contribution to the overall financial performance[14] Market Outlook and Strategy - The company plans to continue focusing on property sales and leasing as primary revenue drivers while exploring new market opportunities[14] - The company is optimistic about the demand for luxury hotels in core markets despite ongoing pandemic challenges[32] - The company maintains a cautiously optimistic outlook for the Hong Kong property market, reflecting recent successful residential property sales[42] Sustainable Development Initiatives - The company emphasizes sustainable development through its vision of "Building a Better Life," integrating green living, innovative thinking, and community care into its business[37] - The company has set a mid-term carbon reduction target based on scientific principles, aiming for net zero emissions by 2050[38] - The company has expanded its sustainable development goals from 15 to 38 under the "Sustainable Development Vision 2030" initiative[38] - The company has established 17 urban farms in Hong Kong and Singapore, covering over 54,000 square feet, producing 1,000 kilograms of crops annually[38] Community Support and Engagement - The company donated HKD 1 million to support elderly care facilities during the COVID-19 pandemic[39] - The company has distributed 280,000 rapid test kits to support the community during the pandemic[39] - The "信和友心人" program organized over 320 volunteer activities with more than 900 volunteers contributing over 186,530 hours of service[92] Corporate Governance - The company emphasizes its commitment to corporate governance, adhering to high standards and transparency as per the Hong Kong Stock Exchange regulations[95] - The board consists of six members, including two executive directors and three independent non-executive directors, ensuring diverse oversight[97] - The company has established four committees under the board: the Remuneration Committee, Nomination Committee, Audit Committee, and Compliance Committee, each with specific responsibilities[102] Risk Management - The company employs a comprehensive risk management system to identify, assess, and report risks that may impact its strategic objectives[145] - The audit committee oversees the risk management and internal control systems, ensuring they are adequate and effective[115] - The company has established a business ethics committee to handle reports of violations confidentially[115] Technology and Innovation - The company is actively seeking new technologies to enhance productivity, improve customer experience, and explore new opportunities, focusing on customer-centric innovation[42] - The "Sino Creative R&D Lab" hosted over 80 events for more than 2,000 stakeholders this fiscal year, promoting real estate technology solutions[79] Financial Summary and Key Performance Indicators - The group's financial summary and key performance indicators are detailed in the annual report, highlighting the overall performance for the year[169] - The company reported a 99.99% approval rate for the audited financial statements for the year ending June 30, 2021[133]

Financial Performance - For the six months ending December 31, 2021, the group's unaudited profit attributable to shareholders was HKD 2.395 billion, compared to HKD 1.171 billion in 2020, representing a year-over-year increase of 104%[8]. - The basic earnings per share for the interim period was HKD 1.23, up from HKD 0.61 in the previous year, indicating a significant improvement in profitability[8]. - The net profit attributable to shareholders, after accounting for a revaluation loss of investment properties, was HKD 2.316 billion, compared to HKD 0.692 billion in 2020, reflecting a substantial increase of 234%[8]. - The basic earnings per share, including the revaluation loss, was HKD 1.19, compared to HKD 0.36 in the previous year, showing a strong recovery[8]. - Revenue for the six months ended December 31, 2021, was HKD 10,913,891,469, an increase from HKD 4,117,082,293 in the same period of 2020[35]. - Gross profit for the same period was HKD 5,538,848,425, compared to HKD 2,206,256,072 in 2020, reflecting a significant increase[35]. - Net profit for the period reached HKD 4,378,095,767, up from HKD 1,271,092,873 in the previous year, indicating a growth of approximately 244%[37]. - Total comprehensive income for the period was HKD 4,498,251,657, compared to HKD 2,356,349,298 in the prior year[37]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.15 per share, an increase from HKD 0.14 per share in 2020, demonstrating a commitment to returning value to shareholders[9]. - The company declared an interim dividend of HKD 0.15 per share, totaling HKD 298,908,004, compared to HKD 269,420,440 for the same period in 2020[64]. - The company's basic earnings attributable to shareholders for the year ended December 31, 2021, were HKD 2,395,460,913, compared to HKD 1,161,781,873 for the previous year, representing an increase of 106.4%[69]. Property and Sales Performance - The total property sales revenue for the interim period was HKD 8.49 billion, a significant increase from HKD 2.01 billion in the previous year[11]. - The company completed the sale of residential units at various projects, achieving sales rates of 98.7% for Yilong Bay 8 and 94% for Kaihui[11]. - Property sales revenue reached HKD 8,685,166,816, compared to HKD 1,949,855,362 in the previous year, marking an increase of about 345%[49]. - Revenue from property management and other services was HKD 587,687,253, up from HKD 565,387,525, indicating a growth of approximately 4%[49]. - The total revenue from property leasing was HKD 1,405,813,557, with a corresponding performance of HKD 1,195,427,350[51]. Rental and Occupancy Rates - The average occupancy rate for retail properties improved to approximately 91.9%, compared to 90.6% in the previous year[21]. - The average occupancy rate for office properties was 89.8%, down from 91.7% in the previous year[21]. - The total rental income for the interim period was HKD 1.797 billion, a decrease of 2.4% year-on-year[21]. - The net rental income for the interim period was HKD 1.558 billion, a decline of 4.4% year-on-year[21]. Financial Position and Assets - As of December 31, 2021, the group had cash and bank deposits of HKD 42.9 billion, resulting in a net cash position of HKD 38.95 billion after deducting total borrowings of HKD 3.963 billion[26]. - The group’s total assets and total equity amounted to HKD 180.416 billion and HKD 87.626 billion, respectively, with a book value per share of HKD 43.97[26]. - The company's reserves increased to HKD 70,955,260,379 from HKD 69,724,442,659, reflecting a growth of approximately 1.8%[40]. - The total assets less current liabilities amounted to HKD 167,102,752,484, up from HKD 164,627,524,744[38]. - The company's attributable equity to shareholders reached HKD 87,626,097,096, up from HKD 85,066,433,045, indicating an increase of about 3.0%[41]. Sustainability and Community Initiatives - The company has received multiple awards for its commitment to sustainability, including the "ESG Excellence Award" and recognition in various sustainability indices[29]. - The company aims to reduce carbon emissions and single-use plastics as part of its Sustainable Development Vision 2030[29]. - The company has installed over 2,300 photovoltaic panels across its managed properties, making it one of the top companies in the industry for solar panel installations[30]. - The company has expanded its sustainable agriculture project to include 15 farms in Hong Kong and one in Singapore, with a total area exceeding 53,000 square feet[30]. - The company is actively involved in community initiatives, including promoting sustainable living and waste reduction through various programs[30]. Governance and Management - The company has established a Remuneration Committee to formulate and recommend remuneration policies for all directors and senior management, ensuring transparency and regular meetings[117]. - The Nomination Committee is responsible for reviewing the board's structure and composition, ensuring alignment with the company's corporate strategy, and conducting regular assessments[118]. - The Audit Committee has reviewed the accounting policies and practices adopted by the company and held meetings to ensure effective financial reporting and risk management[119]. - The company has complied with all provisions of the Corporate Governance Code during the six months ending December 31, 2021, although the roles of Chairman and CEO are currently held by the same individual[122]. Market Outlook and Strategy - The company maintains a cautious optimism regarding the Hong Kong property market, despite potential pressures from tightening monetary policies and interest rate hikes[33]. - The company continues to explore market expansion opportunities and new product developments to sustain growth momentum[35]. - The company is committed to enhancing its land reserves through selective strategies while ensuring quality products and services for customers[33]. - The company is focused on enhancing customer satisfaction through quality property development and service monitoring[29].

Financial Performance - The total revenue for the year 2021 was HKD 24,585,151,818, representing a significant increase compared to previous years[7]. - The underlying operating profit for 2021 was HKD 5,671,648,057, showing a substantial growth from HKD 2,471,844,783 in 2020[7]. - The attributable profit to shareholders for 2021 was HKD 5,304,883,959, up from HKD 901,781,260 in 2020, indicating a strong recovery[7]. - Basic earnings per share for 2021 were HKD 296.55, compared to HKD 132.11 in 2020, reflecting a 124% increase[7]. - The group's attributable profit for the fiscal year ending June 30, 2021, was HKD 56.7161 billion, a 129.4% increase from HKD 24.7180 billion in the previous year[15]. - Basic earnings per share for the fiscal year were HKD 2.96, up from HKD 1.32 in the previous year[15]. - Total property sales revenue for the fiscal year was HKD 20.23939 billion, significantly up from HKD 8.6390 billion in the previous year[18]. - The company reported a net profit for the year reached HKD 10,472,838,642, up from HKD 1,673,524,555 in the prior year, reflecting an increase of approximately 525%[190]. - Total comprehensive income for the year was HKD 11,583,121,070, compared to HKD 891,199,856 in the previous year, showcasing a remarkable increase[190]. Assets and Equity - The total assets as of 2021 amounted to HKD 164,627,524,744, an increase from HKD 155,270,884,414 in 2020[11]. - The total equity attributable to shareholders reached HKD 85,066,433,045 in 2021, up from HKD 78,883,032,862 in 2020[11]. - The company's total equity increased to HKD 85,066,433,045 as of June 30, 2021, from HKD 78,883,032,862 the previous year[194]. - The company's reserves attributable to shareholders increased from HKD 64,580,746,144 in 2020 to HKD 69,724,442,659 in 2021, reflecting a growth of approximately 7.7%[193]. Dividends - The company declared a final dividend of HKD 0.41 per share and a special dividend of HKD 0.28 per share for 2021[7]. - The mid-term dividend for 2021 was maintained at HKD 0.14 per share, consistent with the previous year[7]. - The board proposed a final dividend of HKD 0.41 per share and a special dividend of HKD 0.28 per share, totaling HKD 0.83 per share for the fiscal year[16]. - The company declared an interim dividend of HKD 0.14 per share, totaling HKD 269,420,440, and proposed a final dividend of HKD 0.41 per share, amounting to HKD 793,541,406, along with a special dividend of HKD 0.28 per share, totaling HKD 541,930,717[131]. Property Development and Sales - The company plans to launch multiple new residential projects, including "揚海" in Wong Chuk Hang, which has received pre-sale consent[18]. - The property sales from Sino Land, including joint ventures, amounted to HKD 20.4330 billion, up from HKD 2.3727 billion in the previous year[18]. - The company achieved a property sales ratio of 78.1% for the residential units sold in the third phase of "信和．御龍天下" and 66.7% for "133 Portofino" in Sai Kung[18]. - As of June 30, 2021, the company has a land reserve of approximately 2,080,000 square feet, with a balanced property type distribution: 43% commercial, 32.4% residential, 11.3% industrial, 7.5% parking, and 5.8% hotel[19]. Rental Income and Occupancy - Total rental income for the fiscal year was HKD 3.664 billion, a decrease of 9.8% year-on-year, while net rental income was HKD 3.2165 billion, down 10.6% from the previous year[28]. - The overall occupancy rate of the investment property portfolio was approximately 89.8%, down 5 percentage points from the previous year, with retail properties experiencing the largest decline[28]. Sustainability and Corporate Social Responsibility - The company has established a sustainable development vision for 2030, focusing on reducing carbon emissions and promoting green living[32]. - The company aims to achieve net-zero carbon emissions by 2050, participating in the "Business Ambition for 1.5°C" initiative[32]. - The company donated over 1,000 laptops to support underprivileged students in Hong Kong through the "One Person, One Computer" initiative[33]. - The company launched the "Love Meal Box Donation Program," providing over 60,000 meal boxes to families in need[47]. Governance and Risk Management - The board consists of six directors, including two executive directors (Chairman and Vice Chairman), one non-executive director, and three independent non-executive directors[61]. - The company has established a corporate governance framework emphasizing high standards and transparency to enhance shareholder returns[59]. - The company has established a unified risk management platform to facilitate constructive discussions and timely reporting of risks[111]. - The internal audit department provides independent assessments of the adequacy and effectiveness of the risk management and internal control systems[115]. Financial Management - The company maintained a strong treasury management with minimal foreign exchange and interest rate risks[136]. - The company’s financial performance summary is detailed in the consolidated income statement on page 72 of the annual report[131]. - The company has implemented a comprehensive enterprise risk management system to identify, assess, respond to, and report risks that may impact its strategic goals[111]. Shareholder Information - The company emphasizes the importance of shareholder privacy and will not disclose shareholder information without consent, except as required by law[107]. - The company has established a dividend policy aimed at providing stable dividends linked to business performance, effective from January 1, 2019[110].

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]

Financial Performance - The group's revenue for 2020 was HKD 5,934,504,668, a decrease of 26.4% compared to HKD 8,060,213,837 in 2019[7] - The underlying operating profit for 2020 was HKD 2,471,844,783, down 1.0% from HKD 2,508,693,897 in 2019[7] - The attributable profit to shareholders for 2020 was HKD 901,781,260, a significant decline from HKD 3,714,769,199 in 2019, representing a decrease of 75.8%[7] - Basic earnings per share for 2020 were 132.11 cents, down from 136.96 cents in 2019, reflecting a decrease of 2.0%[7] - The group reported a net profit of HKD 901.07 million for the fiscal year, significantly lower than HKD 3.7147 billion in the previous year, with earnings per share dropping to HKD 0.48 from HKD 2.03[15] - Total comprehensive income for the year was HKD 891,199,856, down from HKD 6,628,645,228 in the previous year, reflecting a decline of 86.6%[190] - The company reported a significant decrease in cash and cash equivalents, dropping to HKD 6,081,049,352 from HKD 11,524,945,562, a decline of 47.3%[192] - The company reported a significant increase in contract liabilities, indicating growth in future revenue streams[195] Assets and Liabilities - Non-current assets as of 2020 were valued at HKD 107,109,780,881, slightly up from HKD 106,983,178,886 in 2019[11] - Current assets increased to HKD 80,668,495,460 in 2020 from HKD 74,805,386,609 in 2019, marking a rise of 7.8%[11] - The total liabilities increased to HKD 155,270,884,414 in 2020 from HKD 156,217,884,986 in 2019, indicating a slight decrease of 0.6%[11] - The company's equity attributable to shareholders rose to HKD 78,883,032,862 from HKD 77,837,424,610, an increase of 1.3%[193] - The company's investment properties decreased to HKD 62,658,456,279 from HKD 65,035,087,581, a decrease of 3.6%[192] Dividends - The group declared a final dividend of 41 cents per share for 2020, consistent with the previous year's dividend of 55 cents per share[7] - The board proposed a final dividend of HKD 0.41 per share, totaling HKD 0.55 per share for the fiscal year, including an interim dividend of HKD 0.14[16] - The interim dividend distributed during the year was HKD 0.14 per share, totaling HKD 263,457,581, including HKD 1,041,939 paid in cash and HKD 262,415,642 in scrip dividends[1] Revenue Composition - The group’s revenue composition for the fiscal year included 1.2% from property sales, 82.5% from property leasing, 8.3% from property management and other services, 5.0% from hotel operations, and 3.0% from securities investment and finance[13] - The group’s revenue from property leasing was 54.1% of total revenue, while property management and other services accounted for 19.3%[14] - Total rental income for the fiscal year was HKD 4.0619 billion, a decrease of 4.2% year-on-year due to the impact of COVID-19[25] Community and Corporate Social Responsibility - The group has been recognized for its commitment to corporate social responsibility and sustainable development, being included in the Hang Seng Corporate Sustainability Index since September 2012[32] - The group recorded over 174,000 hours of volunteer service during the reporting period, demonstrating its commitment to community service[32] - The group launched a comprehensive green project "One Happy Farm" in March 2020, promoting urban farming and community engagement[32] Governance and Management - The board of directors is committed to effective management and robust monitoring to deliver optimal returns to shareholders, adhering to high corporate governance standards[55] - The company has established a governance framework that allows all directors to access necessary business information to evaluate the company's performance and prospects[66] - The company has established a comprehensive internal control system that integrates with its risk management framework, ensuring effective monitoring and reporting mechanisms are in place[80] Risk Management - The company has adopted a corporate risk management system to assist the board in fulfilling its risk management responsibilities[78] - The company conducts annual self-assessments of its internal control systems based on the COSO framework to identify potential new risks[82] - The company maintains a risk register that records all identified risks, their ratings, and current monitoring measures[121] Market Outlook and Strategy - The group remains cautiously optimistic about the economic and property market outlook in Hong Kong, believing it can overcome current challenges[34] - The company aims to strategically increase land reserves to enhance profit potential amid competition in Hong Kong property development[124] - The company is focused on expanding its market presence and enhancing its portfolio through strategic acquisitions and partnerships[171] Environmental Initiatives - The company aims to reduce greenhouse gas emissions by 30% by 2030, using 2012 levels as a baseline, equivalent to planting 1,072,223 trees[46] - The company has installed over 2,100 solar photovoltaic panels across its managed properties in Hong Kong, with a total rated capacity exceeding 700 kW[46] Employee Engagement and Training - The average training hours per employee in the fiscal year 2019/2020 was 11 hours[40] - The company aims to increase training hours per employee by 50% and 100% by 2025 and 2030, respectively, based on 2019 figures[50]