智通财经APP讯，顺豪控股(00253)发布截至2025年6月30日止6个月中期业绩，集团总收入3.34亿港元， 同比增长4.62%;股东应占亏损7937.6万港元，同比扩大46.9%;每股亏损32.83港仙。 ...

Core Viewpoint - Shunhao Holdings (00253.HK) reported a total revenue of HKD 334 million for the six months ending June 30, 2025, representing a year-on-year increase of 5% [1] Financial Performance - The gross profit amounted to HKD 73.69 million, reflecting a year-on-year increase of 30% [1] - The loss attributable to the company's owners was HKD 79.38 million, compared to a loss of HKD 54.03 million in the same period last year [1] - The basic loss per share was HKD 0.3283 [1]

[Interim Results Announcement](index=1&type=section&id=%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%85%AC%E5%B8%83) [Performance Summary](index=1&type=section&id=%E6%A5%AD%E7%B8%BE) Net profit attributable to owners before tax, revaluation, and depreciation rose **30%** to **HK$39 million** for the six months ended June 30, 2025 Net Profit Attributable to Owners of the Company Before Tax, Revaluation, and Depreciation of Land, Property, and Equipment | Metric | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Owners of the Company Before Tax, Revaluation, and Depreciation of Land, Property, and Equipment | 38,646 | 29,622 | +30% | [Interim Dividend](index=1&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board does not recommend an interim dividend for the six months ended June 30, 2025, consistent with the prior period - The Board does not recommend an interim dividend for the six months ended June 30, 2025 (2024: nil)[4](index=4&type=chunk) [Condensed Consolidated Financial Statements](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) [Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E8%A1%A8) Total revenue grew **4.6%** to **HK$334,338 thousand** for the six months ended June 30, 2025, but loss before tax expanded to **HK$135,077 thousand**, resulting in a **HK$147,561 thousand** loss for the period Key Figures from Condensed Consolidated Statement of Profit or Loss | Metric | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total Revenue | 334,338 | 319,575 | | Gross Profit | 73,691 | 56,890 | | Impairment Loss on Fair Value of Investment Properties | (154,800) | (92,232) | | Administrative Expenses | (30,842) | (31,270) | | Finance Costs | (25,542) | (33,503) | | Loss Before Tax | (135,077) | (98,835) | | Loss for the Period | (147,561) | (106,520) | | Loss Attributable to Owners of the Company | (79,376) | (54,034) | | Basic Loss Per Share (HK cents) | (32.83) | (22.35) | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%B8%BD%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) Other comprehensive income of **HK$121,222 thousand** from foreign operations' exchange differences significantly reduced total comprehensive expense to **HK$26,238 thousand** for the six months ended June 30, 2025, from **HK$120,464 thousand** in the prior year Key Figures from Condensed Consolidated Statement of Comprehensive Income | Metric | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Loss for the Period | (147,561) | (106,520) | | Exchange Differences Arising from Translation of Foreign Operations | 121,222 | (13,773) | | Other Comprehensive Income (Expense) for the Period | 121,323 | (13,944) | | Total Comprehensive Expense for the Period | (26,238) | (120,464) | | Total Comprehensive Income (Expense) Attributable to Owners of the Company | (32,433) | (59,430) | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, total assets less current liabilities were **HK$8,861,491 thousand**, a slight decrease from December 31, 2024, with non-current assets primarily comprising property, plant and equipment, and investment properties Key Figures from Condensed Consolidated Statement of Financial Position | Metric | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Non-current Assets | 9,115,643 | 9,213,584 | | Current Assets | 228,427 | 266,941 | | Current Liabilities | 482,579 | 528,467 | | Net Current Liabilities | (254,152) | (261,526) | | Total Assets Less Current Liabilities | 8,861,491 | 8,952,058 | | Equity Attributable to Owners of the Company | 4,013,125 | 4,045,558 | | Total Equity | 8,108,973 | 8,135,211 | | Non-current Liabilities | 752,518 | 816,847 | [Notes to the Condensed Consolidated Financial Statements](index=5&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) [Basis of Preparation](index=5&type=section&id=1.%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) These condensed consolidated financial statements are prepared in accordance with HKAS 34 and Appendix D2 of the HKEX Listing Rules, consistent with the statutory annual consolidated financial statements for the year ended December 31, 2024 - Financial statements are prepared in accordance with HKAS 34 and Appendix D2 of the Listing Rules[8](index=8&type=chunk) - Financial information for the year ended December 31, 2024, has been delivered to the Companies Registry, with an unqualified auditor's report[8](index=8&type=chunk) [Significant Accounting Policies](index=5&type=section&id=2.%20%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) These condensed consolidated financial statements are prepared on a historical cost basis, except for investment properties and certain financial instruments measured at fair value, with consistent accounting policies and no material impact from HKFRS amendments - Financial statements are prepared on a historical cost basis, excluding investment properties and some financial instruments[9](index=9&type=chunk) - Accounting policies adopted for the period are consistent with the prior year, and amendments to HKFRS have no material impact on financial position and performance[9](index=9&type=chunk)[11](index=11&type=chunk) [Revenue](index=6&type=section&id=3.%20%E6%94%B6%E5%85%A5) For the six months ended June 30, 2025, total revenue was **HK$334,338 thousand**, primarily from hotel operating and property rental income, with hotel revenue being the largest contributor Revenue Stream Details | Revenue Stream | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hotel Operating Revenue | 268,032 | 259,757 | | Property Rental Income | 66,281 | 59,818 | | Dividend Income | 25 | - | | **Total Revenue** | **334,338** | **319,575** | [Segment Information](index=7&type=section&id=4.%20%E5%88%86%E9%A1%9E%E8%B3%87%E6%96%99) The Group's operating segments include hotel services, property investment, and securities investment, with hotel services showing positive segment results while property investment recorded a significant loss for the six months ended June 30, 2025 - The Chairman of the Company is the chief operating decision maker, and segment information is used for resource allocation and performance assessment[13](index=13&type=chunk) - Operating and reportable segments include hotel services (9 hotels), property investment (3 major properties), and securities investment[14](index=14&type=chunk) Segment Revenue and Results | Segment | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | Segment Results (2025) (HK$ thousand) | Segment Results (2024) (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Hotel Services | 268,032 | 259,757 | 9,353 | (1,066) | | Property Investment | 66,281 | 59,818 | (90,487) | (34,276) | | Securities Investment | 25 | - | 25 | - | | **Total** | **334,338** | **319,575** | **(81,109)** | **(35,342)** | [Finance Costs](index=9&type=section&id=5.%20%E8%B2%A1%E5%8B%99%E6%88%90%E6%9C%AC) For the six months ended June 30, 2025, total finance costs were **HK$25,542 thousand**, primarily from bank loan interest, representing a **23.8%** year-on-year decrease Finance Costs Details | Item | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest on Bank Loans | 23,819 | 31,657 | | Interest on Amounts Due to a Fellow Subsidiary | 1,723 | 1,846 | | **Total Finance Costs** | **25,542** | **33,503** | [Income Tax Expense](index=9&type=section&id=6.%20%E6%89%80%E5%BE%97%E7%A8%85%E8%B2%BB%E7%94%A8) For the six months ended June 30, 2025, income tax expense was **HK$12,484 thousand**, mainly from current tax in Hong Kong and the UK, increasing by **62.4%** year-on-year Income Tax Expense Details | Item | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Current Tax - Hong Kong | 9,410 | 7,070 | | Current Tax - United Kingdom | 4,231 | 2,459 | | Underprovision in Prior Years (Hong Kong) | 111 | - | | Deferred Tax | (1,268) | (1,844) | | **Total Income Tax Expense** | **12,484** | **7,685** | - Hong Kong profits tax rate is **16.5%**, while China and UK profits tax are recognized based on management's estimated weighted average annual income tax rate[16](index=16&type=chunk)[17](index=17&type=chunk) [Loss for the Period Has Been Arrived at After Charging (Crediting) Items](index=10&type=section&id=%E6%9C%AC%E6%9C%9F%E8%99%A7%E6%90%8D%E7%B6%93%E5%B7%B2%E6%89%A3%E9%99%A4(%E8%A8%88%E5%8F%8A)%E4%BB%A5%E4%B8%8B%E9%A0%85%E7%9B%AE) For the six months ended June 30, 2025, the loss for the period included **HK$83,192 thousand** in depreciation of property, plant and equipment and credited **HK$1,487 thousand** in interest income from bank deposits Loss for the Period Has Been Arrived at After Charging (Crediting) Items | Item | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Depreciation of Right-of-Use Assets | 384 | 381 | | Depreciation of Property, Plant and Equipment | 83,192 | 82,458 | | Interest Income from Bank Deposits | (1,487) | (2,981) | | Loss on Disposal of Property, Plant and Equipment | 82 | 2,497 | [Loss Per Share](index=10&type=section&id=8.%20%E6%AF%8F%E8%82%A1%E8%99%A7%E6%90%8D) For the six months ended June 30, 2025, basic loss per share expanded to **32.83 HK cents** from **22.35 HK cents** in the prior period, primarily due to an increase in loss attributable to owners of the company Loss Per Share Data | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Loss for the Period Attributable to Owners of the Company (HK$ thousand) | 79,376 | 54,034 | | Number of Shares in Issue (thousands) | 241,766 | 241,766 | | Basic Loss Per Share (HK cents) | (32.83) | (22.35) | - No potential ordinary shares were outstanding during the period or prior period, thus diluted loss per share is not presented[19](index=19&type=chunk) [Trade and Other Receivables](index=11&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E5%B8%B3%E6%AC%BE%EF%BC%88%E5%AE%A2%E6%88%B6%E5%90%88%E7%B4%84%EF%BC%89) As of June 30, 2025, total trade and other receivables decreased to **HK$13,022 thousand** from **HK$15,454 thousand** on December 31, 2024, with the Group granting 30 to 60 days credit to hotel travel agents and certain customers Trade and Other Receivables Details | Item | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Receivables (from contracts with customers) | 6,999 | 10,088 | | Lease Receivables | 2,534 | 2,250 | | Other Receivables | 3,489 | 3,116 | | **Total** | **13,022** | **15,454** | Ageing Analysis of Trade and Lease Receivables | Ageing | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Not yet due | 9,280 | 12,139 | | Overdue (0-30 days) | 80 | 104 | | Overdue (31-60 days) | 173 | 94 | | Overdue (61-90 days) | - | 1 | | **Total** | **9,533** | **12,338** | [Trade and Other Payables and Accruals](index=11&type=section&id=10.%20%E8%B2%BF%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E4%BB%98%E5%B8%B3%E6%AC%BE%E5%8F%8A%E9%A0%90%E6%8F%90%E5%B8%B3%E6%AC%BE) As of June 30, 2025, total trade and other payables and accruals decreased to **HK$49,498 thousand** from **HK$60,590 thousand** on December 31, 2024 Trade and Other Payables and Accruals Details | Item | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Payables | 4,748 | 5,288 | | Other Payables and Accruals | 44,750 | 55,302 | | **Total** | **49,498** | **60,590** | Ageing Analysis of Trade Payables | Ageing | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | 0-30 days | 4,740 | 5,281 | | 31-60 days | 7 | 6 | | 61-90 days | 1 | 1 | | **Total** | **4,748** | **5,288** | [Management Discussion and Analysis](index=12&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E4%B9%8B%E8%A8%8E%E8%AB%96%E5%8F%8A%E5%88%86%E6%9E%90) [Business Performance](index=12&type=section&id=%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE) [Hotel Business](index=12&type=section&id=1.%20%E9%85%92%E5%BA%97%E6%A5%AD%E5%8B%99) Hotel business revenue grew **3%** to **HK$268 million**, with Grand Hotel Group's net profit attributable to owners increasing **43%**, and Royal Scot Hotel's annual rent rising **34%** - The Group's hotel operating revenue was **HK$268 million**, a **3%** year-on-year increase[24](index=24&type=chunk) - The Group owns nine hotels, totaling approximately 3,042 rooms, making it one of Hong Kong's largest hotel groups[24](index=24&type=chunk) Net Profit Attributable to Owners of Grand Hotel Group | Metric | Six Months Ended June 30, 2025 (HK$ thousand) | Six Months Ended June 30, 2024 (HK$ thousand) | Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Owners of Grand Hotel Group Before Tax, Revaluation, and Depreciation of Land, Property, and Equipment | 59,295 | 41,562 | +43% | - Grand Hotel Group's total revenue increased by **5%** year-on-year to approximately **HK$258 million**[27](index=27&type=chunk) - The annual rent for Royal Scot Hotel in London increased by **34%** from **GBP3,546,000** to **GBP4,737,000**[27](index=27&type=chunk) [Commercial Property Rental Income](index=14&type=section&id=2.%20%E5%95%86%E6%A5%AD%E7%89%A9%E6%A5%AD%E7%A7%9F%E9%87%91%E6%94%B6%E5%85%A5) Commercial property rental income totaled **HK$66 million**, a **10%** increase year-on-year, with Hong Kong commercial properties at 633 King's Road and Shun Ho Commercial Building achieving **91%** and **77%** occupancy rates respectively - Commercial property rental income was **HK$66 million**, a **10%** year-on-year increase[28](index=28&type=chunk) Occupancy Rate of Hong Kong Commercial Properties | Property | Occupancy Rate | | :--- | :--- | | 633 King's Road | 91% | | Shun Ho Commercial Building | 77% | [Liquidity](index=14&type=section&id=%E8%B3%87%E9%87%91%E6%B5%81%E5%8B%95) As of June 30, 2025, the Group's overall debt decreased to **HK$955 million** from **HK$1,060 million** on December 31, 2024, with a gearing ratio of **12%**, while facing foreign exchange risks and employing 647 staff Overall Debt and Gearing Ratio | Metric | As of June 30, 2025 | As of December 31, 2024 | | :--- | :--- | :--- | | Overall Debt (HK$ thousand) | 955,000 | 1,060,000 | | Gearing Ratio | 12% | 13% | - Bank loans primarily bear interest at floating rates denominated in HKD and GBP, exposing the Group to foreign exchange risk[30](index=30&type=chunk) - The Group has a total of 647 employees, with remuneration and benefits determined by market conditions[30](index=30&type=chunk) [Key Business Achievements](index=15&type=section&id=%E9%87%8D%E9%BB%9E%E6%A5%AD%E5%8B%99%E6%88%90%E7%B8%BE) The Group achieved **5%** total revenue growth to **HK$334 million**, maintaining over **90%** average hotel occupancy, and securing a **34%** increase in Royal Scot Hotel's annual rent - Hong Kong overnight visitor arrivals reached approximately **11.3 million**, a **6.6%** year-on-year increase, but remained below pre-pandemic levels[31](index=31&type=chunk) - Per capita spending by Chinese tourists remains below pre-pandemic levels, with tourism recovery affected by the expensive HKD against RMB and declining per capita spending[31](index=31&type=chunk) - The Group's average hotel occupancy rate consistently exceeded **90%**, with hotel revenue growing **3%** and total revenue growing **5%**[31](index=31&type=chunk) - The annual rent for Royal Scot Hotel in London successfully increased by **34%** from **GBP3,546,000** to **GBP4,737,000**[32](index=32&type=chunk) - Wood Street Hotel in London has been approved for renovation into a luxury hotel with approximately 216 rooms[32](index=32&type=chunk) [Outlook](index=15&type=section&id=%E5%B1%95%E6%9C%9B%E6%9C%AA%E4%BE%86) The Group holds nine revenue-generating hotels and the London Wood Street Hotel renovation project, but future hotel and rental income face challenges from China's weak economy, expensive HKD against RMB, and US-China trade tensions, though multi-entry visa policies in major Chinese cities offer potential encouragement - The Group owns nine revenue-generating hotels and the London Wood Street Hotel renovation project[33](index=33&type=chunk) - Tourism recovery is affected by China's weak economy and the expensive HKD against RMB, with Chinese tourists tending towards day trips to the Greater Bay Area[33](index=33&type=chunk) - Commercial property occupancy rates are impacted by the US-China trade war and declining Hong Kong import/export volumes[33](index=33&type=chunk) - Management will continue efforts to increase revenue and control costs to address challenges in hotel business and rental income[34](index=34&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=15&type=section&id=%E8%B3%BC%E5%85%A5%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B3%96%E5%9B%9E%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) For the six months ended June 30, 2025, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities - During the period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities[35](index=35&type=chunk) [Corporate Governance](index=16&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) [Compliance with Corporate Governance Code](index=16&type=section&id=(a)%20%E9%81%B5%E5%AE%88%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) The company complied with the Corporate Governance Code in Appendix C1 of the Listing Rules, with a deviation where the Chairman and Chief Executive are the same person, an arrangement the Board believes ensures stable leadership and cost savings - The company complied with the Corporate Governance Code, but the Chairman and Chief Executive are the same person, Mr. Cheng Kai Man, deviating from Code Provision C.2.1[36](index=36&type=chunk) - The Board believes this dual role ensures stable and consistent leadership for the company and significantly reduces costs[36](index=36&type=chunk) [Compliance with Model Code](index=16&type=section&id=(b)%20%E9%81%B5%E5%AE%88%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) The company adopted the Model Code in Appendix C3 of the Listing Rules, and all directors confirmed compliance throughout the period - The company adopted the Model Code in Appendix C3 of the Listing Rules, and all directors confirmed compliance with the code during the period[37](index=37&type=chunk) [Review by Audit Committee](index=16&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83%E4%B9%8B%E5%AF%A9%E9%96%B1) The Audit Committee reviewed the Group's unaudited financial results for the six months ended June 30, 2025 - The Audit Committee reviewed the Group's unaudited financial results for the six months ended June 30, 2025[38](index=38&type=chunk) [Board of Directors Information](index=16&type=section&id=%E6%96%BC%E6%9C%AC%E5%85%AC%E5%91%8A%E6%97%A5%E6%9C%9F%EF%BC%8C%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B9%8B%E8%91%A3%E4%BA%8B%E6%9C%83%E6%88%90%E5%93%A1%E5%8C%85%E6%8B%AC) As of the announcement date, the Board comprises four executive directors (including Chairman Mr. Cheng Kai Man), one non-executive director, and three independent non-executive directors - The Board of Directors includes four executive directors (Mr. Cheng Kai Man as Chairman), one non-executive director, and three independent non-executive directors[39](index=39&type=chunk)

Core Viewpoint - The companies BGI Hotel, Shunhao Properties, and Shunhao Holdings anticipate significant increases in net profit for the mid-2025 period compared to the same period in 2024, driven by improved hotel revenues and reduced operational costs [1][2] Group 1: Financial Projections - BGI Hotel expects a net profit of no less than HKD 59 million for mid-2025, up from HKD 42 million in 2024, representing an increase of over 40% [1] - Shunhao Properties anticipates a net profit of no less than HKD 78 million for mid-2025, compared to HKD 61 million in 2024, reflecting an increase of over 28% [1] - Shunhao Holdings projects a net profit of no less than HKD 38 million for mid-2025, up from HKD 30 million in 2024, indicating an increase of over 27% [1] Group 2: Factors Influencing Profit Changes - The expected increase in net profit for mid-2025 is primarily attributed to higher hotel revenues, reduced operational costs, and lower financial costs [2] - Despite the profit increases, Shunhao Properties and Shunhao Holdings are expected to see a decrease in net profit when accounting for property revaluation and non-cash depreciation due to a weak property market leading to declines in non-cash property valuations [2]

Core Viewpoint - The companies BGI Hotel, Shunhao Properties, and Shunhao Holdings expect significant increases in net profit for the mid-term of 2025 compared to the same period in 2024, driven by improved hotel revenues and reduced operational costs [1][2]. Group 1: Financial Projections - BGI Hotel anticipates a net profit of no less than HKD 59 million for the mid-term of 2025, up from HKD 42 million in 2024, representing an increase of over 40% [1] - Shunhao Properties expects a net profit of no less than HKD 78 million for the mid-term of 2025, compared to HKD 61 million in 2024, indicating an increase of over 28% [1] - Shunhao Holdings projects a net profit of no less than HKD 38 million for the mid-term of 2025, up from HKD 30 million in 2024, reflecting an increase of over 27% [1] Group 2: Factors Influencing Profit Changes - The expected increase in net profit for 2025 is primarily attributed to higher hotel revenues, reduced operational costs, and lower financial costs [2] - Despite the profit increases, Shunhao Properties and Shunhao Holdings are projected to experience a decrease in net profit when accounting for property revaluation and non-cash depreciation due to a weak property market leading to lower non-cash property valuations [2]

順豪物業投資 有限公司 於香港註冊成立之有限公司 (股份代號 : 201) (股份代號 : 219) (股份代號 : 253) 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的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 華大酒店投資 有限公司 於香港註冊成立之有限公司 順豪控股 有限公司 於香港註冊成立之有限公司 ) 聯合公告 正面盈利預告及盈利警告 本公告乃華大酒店投資有限公司（「華大酒店」）、順豪物業投資有限公司（「順豪物 業」）及順豪控股有限公司（「順豪控股」）（統稱「公司」及連同彼等各自之附屬公 司則統稱「集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.09 條及香港法例第 571 章證券及期貨條例第 XIVA 部項下内幕消息條文（按上市規則之定 義）聯合刊發。 公司董事會（「董事會」）謹此通知公司股東及潛在投資者，根據集團截至二零二五年 六月三十日止六個月（「二零二五年中期期間」）之未經審核綜合管理帳目的初步評估 及目前可得資料，預期相比於截至二零二四年六月三 ...

董事會會議召開日期 順豪控股有限公司（「本公司」）謹此宣佈，本公司將於二零二五年八月二十二日 （星期五）舉行董事會會議，藉以（其中包括）考慮及批准刊發本公司及其附屬 公司截至二零二五年六月三十日止六個月之中期業績公告，以及考慮派發中期股 息（如有）。 順豪控股有限公司 （於香港註冊成立之有限公司） （股份代號 : 253） 代表 順豪控股有限公司 公司秘書 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，概不對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。 顧菁芬 香港，二零二五年八月十二日 於本公告日期，本公司之董事會成員包括四名執行董事，即鄭啓文先生（主席）、許永浩先生、劉 金眉女士及伍月瑩女士；一名非執行董事，即呂馮美儀女士；以及三名獨立非執行董事，即陳儉 輝先生、林桂璋先生及廖毓初先生。 ...

FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00253 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 304,368,750 | | 0 | | 304,368,750 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 304,368,750 | | 0 | | 304,368,750 | 第 2 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | ...

Group 1 - The company approved an investment of 67.1992 million RMB to acquire 51% equity in Wuxi Fuaier Metal Technology Co., Ltd. through its wholly-owned subsidiary Jiangsu Fengdong Thermal Technology Co., Ltd. [2] - Wuxi Fuaier has completed the necessary business registration and obtained a business license from the Data Bureau of Xishan District, Wuxi City [3] - After the transaction, Wuxi Fuaier will become a controlled subsidiary of Jiangsu Fengdong and will be included in the company's consolidated financial statements [3] Group 2 - Wuxi Fuaier Metal Technology Co., Ltd. was established on August 26, 2009, with a registered capital of 50 million RMB [5] - The company is located at No. 91, Jiaoshan Road, Industrial Park, Yangjian Town, Xishan District, Wuxi City [5] - The legal representative of Wuxi Fuaier is Zhu Wenming [5]

Financial Performance - The net profit attributable to the company's owners for the year ended December 31, 2024, was HKD 71,000,000, an increase of HKD 24,000,000 (+51%) compared to HKD 47,000,000 in 2023[7]. - The net profit of the hotel group increased by HKD 63,000,000 (+151%) to HKD 104,000,000 for the year ended December 31, 2024, compared to HKD 41,000,000 in 2023[11]. - Total revenue for the year ended December 31, 2024, was HKD 683,973,000, representing a 12.8% increase from HKD 606,035,000 in 2023[129]. - Hotel revenue for the group was HKD 556,000,000, representing a 14% increase from HKD 488,000,000 in 2023[11]. - The company reported a net loss of HKD 313,400,000 for 2024, compared to a net loss of HKD 89,194,000 in 2023, indicating a significant increase in losses[130]. - The gross profit margin decreased to 21.8% in 2024 from 32.0% in 2023, reflecting higher costs associated with services and depreciation[129]. - The company reported a total comprehensive loss of HKD 342,817,000 for 2024, compared to a total comprehensive loss of HKD 25,916,000 in 2023, highlighting significant financial challenges[130]. - The company recorded a fair value loss on investment properties of HKD 312,632,000 in 2024, compared to HKD 93,700,000 in 2023, indicating increased impairment[129]. Revenue Sources - Hotel operating revenue reached HKD 556,086,000, up 13.9% from HKD 488,325,000 in the previous year[181]. - Property rental income increased to HKD 127,887,000, a rise of 8.9% compared to HKD 117,665,000 in 2023[181]. - The majority of hotel service revenue was generated in Hong Kong, totaling HKD 532,050,000, compared to HKD 482,931,000 in 2023[181]. - Revenue from food and beverage sales was recognized at a specific point in time, contributing to the overall hotel operating revenue[183]. Expenses and Costs - Administrative expenses decreased to HKD 67,430,000 in 2024 from HKD 87,181,000 in 2023, showing a reduction of 22.6%[129]. - The company’s total depreciation expense for property, plant, and equipment increased to HKD 165,669,000 from HKD 124,235,000, indicating higher asset utilization or investment[136]. - Employee salaries, including directors' remuneration, rose to HKD 222,385,000 in 2024, up 24.0% from HKD 179,334,000 in 2023[198]. Assets and Liabilities - The company's total assets decreased to HKD 8,952,058,000 in 2024 from HKD 9,570,848,000 in 2023, a decline of 6.5%[131]. - The equity attributable to owners of the company decreased to HKD 4,045,558,000 in 2024 from HKD 4,223,377,000 in 2023, a decline of 4.2%[132]. - As of December 31, 2024, the group's current liabilities exceed current assets by HKD 261,526,000, prompting a review of future liquidity[148]. - The group has approximately HKD 4,571,000,000 in investment properties located in Hong Kong and the UK as of December 31, 2024[118]. Corporate Governance - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors, with two independent directors possessing appropriate professional qualifications[33]. - The board held a total of four meetings in 2024, with attendance rates for executive directors at 100%[38]. - The company has implemented an anti-corruption policy to regulate employee acceptance of benefits and a whistleblowing policy for reporting suspicious or improper conduct[64]. - The company ensures that its financial statements are prepared in compliance with relevant regulations and applicable accounting standards[42]. Risk Management - The board is responsible for evaluating and determining the nature and extent of risks, maintaining an effective risk management and internal control system[41]. - The audit committee is responsible for reviewing the effectiveness of the group's risk management and internal control systems, reporting to the board of directors[43]. - The risk management committee was established in 2019, consisting of three executive directors, focusing on business, financial, and property asset management risks[44]. Shareholder Information - The company allows shareholders holding at least 5% of voting rights to request a general meeting[68]. - The company has maintained effective communication channels with shareholders, including printed and electronic communications, and annual general meetings for feedback[72]. - The company has established a dividend policy aimed at providing stable and sustainable returns to shareholders, considering various factors including financial conditions and future capital needs[74]. Market Conditions - The future outlook for hotel operations and rental income remains challenging due to weak Chinese economic conditions and high HKD to RMB exchange rates[19]. - The group faces risks related to economic conditions, regulatory changes, and market competition affecting rental income from investment properties[109].