Financial Performance - For the fiscal year 2024, the company reported earnings per share (EPS) of HKD 1.91, a decrease of 56% compared to HKD 4.33 in 2023[22]. - Revenue for 2024 reached HKD 4,627,425,000, an increase of 2.96% compared to HKD 4,494,211,000 in 2023[26]. - Gross profit for 2024 was HKD 1,487,046,000, a decrease of 1.93% from HKD 1,515,118,000 in 2023[26]. - Profit before tax for 2024 was HKD 418,470,000, down 40.43% from HKD 702,004,000 in 2023[26]. - Net profit attributable to equity holders for 2024 was HKD 105,972,000, a decrease of 55.8% compared to HKD 239,548,000 in 2023[26]. - Total assets decreased to HKD 24,473,807,000 in 2024 from HKD 25,014,439,000 in 2023, a decline of 2.16%[26]. - Total liabilities decreased to HKD 6,400,040,000 in 2024 from HKD 6,762,389,000 in 2023, a reduction of 5.35%[26]. - Shareholders' profit for the year was HKD 106 million, a decrease of 56% year-on-year[62]. - The group's net profit attributable to shareholders was HKD 106 million, a decrease of 56% compared to the previous year[80]. Dividends and Payouts - The company declared a dividend of HKD 1.50 per share for 2024, down from HKD 2.50 in 2023, resulting in a dividend payout ratio of 78.37%[22]. - The company paid an interim dividend of 1.5 HKD cents per share on October 15, 2024, consistent with the previous year[149]. Financial Ratios - The interest coverage ratio decreased to 39.31 in 2024 from 56.17 in 2023, indicating a decline in the company's ability to meet interest obligations[22]. - The current ratio improved to 2.02 in 2024 from 1.78 in 2023, suggesting better short-term financial health[22]. - The total debt to equity ratio improved to 31.58% in 2024 from 33.00% in 2023, indicating a reduction in leverage[22]. - The average return on equity (ROE) decreased to 1.12% in 2024 from 1.91% in 2023, reflecting lower profitability relative to equity[22]. Business Operations and Strategy - The company operates several theme parks and cultural tourism destinations, with ownership stakes ranging from 46% to 100% in various subsidiaries[14][15][16]. - The company has a diversified portfolio in the hotel industry, owning 100% of several hotels and a significant stake in others, enhancing its market presence[19]. - The company is actively involved in the travel document services sector, fully owning its subsidiary in this area, which contributes to its overall business strategy[18]. - The company plans to continue expanding its market presence and exploring new strategies for growth in the tourism and hospitality sectors[13]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[27]. - The management indicated a strategic shift towards enhancing operational efficiency and cost management[27]. Market and Economic Outlook - The Chinese GDP for 2024 reached CNY 134.9 trillion, growing by 5.0% year-on-year, surpassing the global growth rate of approximately 3%[64]. - The company anticipates a steady recovery in the Hong Kong and mainland China economies by 2025, despite challenges from high market interest rates and geopolitical tensions[144]. - The company has maintained a cautious optimism regarding business prospects while remaining vigilant about global economic volatility[144]. Investments and Projects - The company plans to complete the design of the Ambara Resort project by 2025 and commence main construction, aiming for trial operations by the end of 2026[69]. - The company is committed to increasing its investment and asset proportions in Hong Kong, aiming to establish a leading tourism transportation investment platform in the Guangdong-Hong Kong-Macao Greater Bay Area[69]. - The company is actively exploring quality overseas investment opportunities while enhancing its strategic focus on Hainan[69]. - The company has established a joint venture with a registered capital of RMB 400 million to develop urban renewal and scenic area upgrades in Chongqing, with the company holding 55% equity[116]. - The company has initiated a project to establish a joint venture in Hainan to develop aerospace tourism, with a registered capital of RMB 10 million, aiming to create a significant tourism platform[117]. Management and Governance - 范志識先生 appointed as non-executive director in November 2022, bringing extensive experience in tourism and asset management[45]. - 謝祖墀先生 has nearly 30 years of experience in management consulting and corporate management, focusing on business strategy and overseas expansion[49]. - 陳志宏先生 served as chairman of life and general insurance for Zurich Insurance Group in the Asia-Pacific region, with a strong background in finance and accounting[54]. - 宋大偉先生 has held various senior positions in the Chinese government and state-owned enterprises, contributing to economic management and development[55]. - 公司董事会成员均具备丰富的行业经验和专业背景，涵盖旅游、保险、法律和经济管理等领域[48]. - 董事会成员的多样化背景有助于公司在市场扩张和新产品开发方面的战略决策[52]. Technology and Innovation - The company is actively exploring the application of new technologies such as AI and drones, launching the Xingtu AI creation platform and hosting five AIGC creation competitions[126]. - The company plans to strengthen AI capabilities in 2025 to provide personalized travel services and improve operational efficiency[126]. - The company launched a digital platform upgrade in 2024 to enhance booking processes and improve customer service experience, integrating with the parent company's platform[124]. Related Party Transactions - The company has ongoing related party transactions with China Travel Group, including travel permit management services and office leases, with specified annual caps for each[183]. - The actual amount for the management services agreement with China Travel Group for the year ending December 31, 2024, was RMB 0, while the annual cap is RMB 60.5 million[188]. - The independent non-executive directors confirmed that the ongoing connected transactions are conducted in the ordinary course of business and on fair and reasonable terms[191].

华夏时报（www.chinatimes.net.cn）记者 王敬 北京报道 香港中旅（0308.HK）3月26日发布的2024年财报显示，公司全年实现综合收入46.27亿港元，同比增长 3%；股东应占利润1.06亿港元，较上年减少56%。增收不增利的反差主要在于受投资性物业公允价值缩 水2.04亿港元拖累，该项损失占利润降幅比重约七成。 从业务板块表现来看，公司经营呈现明显分化态势：酒店与客运业务表现突出，营收分别实现18%和 11%的双位数增长；然而作为核心业务的旅游景区及相关业务却陷入"增收不增利"的经营困境，成为制 约整体盈利的关键因素。 盈利压力下，公司董事会决定不派发末期股息，全年股息同比减少40%至每股约0.015港元。就公司经 营业绩情况，本报记者致函香港中旅，截至发稿暂未获得回复。 中国投资协会上市公司投资专业委员会副会长支培元接受《华夏时报》记者采访时指出："香港中旅 2024年利润结构反映出过度依赖投资性物业公允价值变动带来的较大风险。投资性物业公允价值受房地 产市场波动、宏观经济环境等多种因素影响，具有高度不确定性。一旦市场下行，就像2024年出现公允 价值亏损，会对净利润造成严重冲击， ...

Financial Performance - The company's total revenue for the year 2024 was HKD 4.627 billion, representing a 3% increase compared to the previous year[3]. - Profit attributable to shareholders decreased by 56% to HKD 106 million[3]. - The group's revenue for the year ended December 31, 2024, was HKD 4,627,425,000, representing an increase of 2.96% from HKD 4,494,211,000 in 2023[13]. - The gross profit decreased to HKD 1,487,046,000, down 1.85% from HKD 1,515,118,000 in the previous year[13]. - Operating income significantly declined to HKD 309,741,000, a decrease of 45.00% compared to HKD 563,409,000 in 2023[13]. - The annual profit attributable to equity holders of the company was HKD 105,972,000, down 55.8% from HKD 239,548,000 in the prior year[13]. - Total revenue for the year ending December 31, 2024, is reported at HKD 4,627,425,000, with external customer sales contributing HKD 4,602,830,000[27]. - The company reported a loss of HKD 10,506,000 in the passenger transport business segment, contrasting with profits in other segments[27]. - The company reported a significant increase in fixed lease payments from investment properties, rising to HKD 160,160,000 in 2024 from HKD 119,774,000 in 2023[35]. - Basic and diluted earnings per share for 2024 were HKD 0.106, down from HKD 0.240 in 2023, reflecting a decrease of approximately 55.8%[39]. Assets and Liabilities - As of December 31, 2024, cash and bank balances stood at HKD 2.444 billion, with total assets amounting to HKD 24.532 billion and a debt-to-equity ratio of 32%[3]. - The total assets as of December 31, 2024, were HKD 24,531,934,000, a decrease from HKD 25,014,439,000 in 2023[15]. - The total equity attributable to equity holders of the company was HKD 16,106,010,000, a decrease from HKD 16,354,364,000 in 2023[16]. - The company’s total liabilities stood at HKD 6,762,389,000, compared to HKD 6,400,041,000 in the previous year[30]. - As of December 31, 2024, the group had cash and bank balances of HKD 2.449 billion and total borrowings of HKD 1.807 billion, resulting in a debt-to-capital ratio of 32%[81]. Business Strategy and Operations - The company is focusing on enhancing its investment and operational management in multiple scenic destinations, maintaining a leading position in the industry[5]. - The company plans to enhance its business competitiveness through industry-leading initiatives and strategic optimizations[10]. - The company aims to strengthen its core resources and explore new IP operation models to meet diverse consumer needs[9]. - The company plans to enhance marketing and operational strategies to improve revenue streams in the future, particularly in the Yunnan region with the establishment of a new company[54]. - The company is launching new products, including a Jurassic Water World at the World Window theme park, and is collaborating with Tencent Video to create an immersive cultural entertainment district[62]. - The company has initiated a plan to upgrade tourism equipment and facilities at a lower cost, responding to government policies aimed at promoting consumption[63]. Market Outlook - The outlook for 2025 indicates that the company will face challenges from the real estate market and trade tensions, but it remains optimistic about long-term economic growth driven by new sectors[9]. - The company anticipates a cautious outlook for business expansion due to high long-term market interest rates and geopolitical uncertainties[89]. - The group maintains a cautiously optimistic outlook on its overall business fundamentals, aiming for steady operational growth[10]. Governance and Compliance - The company is committed to enhancing its governance structure and risk management capabilities, focusing on sustainable development and compliance management[8]. - The company has adhered to the corporate governance code as per the listing rules, with some deviations noted, including the absence of a meeting with independent non-executive directors without other board members present[95]. - The company has confirmed compliance with the standard code of conduct for securities trading by all directors for the fiscal year ending December 31, 2024[96]. - The audit committee has reviewed the accounting principles and practices adopted by the company, discussing matters related to audit, risk management, internal controls, and financial reporting for the fiscal year ending December 31, 2024[97]. Employee and Operational Metrics - As of December 31, 2024, the group employs 7,004 staff, with compensation based on performance and industry standards[80]. - The average occupancy rate for the six hotels in Hong Kong and Macau was 95%, with an average room rate of HKD 760, while the Beijing hotel had an occupancy rate of 81% and an average room rate of RMB 706[59]. Joint Ventures and Collaborations - The company has signed a cooperation agreement to establish a joint venture with a registered capital of RMB 400 million, where the company will contribute RMB 220 million for a 55% stake, aimed at urban renewal and tourism projects in Chongqing[66]. - A joint venture named China Travel (Hainan) Aerospace Tourism Development Co., Ltd. was established with a registered capital of RMB 10 million, with the company holding a 51% stake, focusing on developing a space tourism destination in Wenchang[67][68]. - The company and partners have set up a joint venture with a registered capital of RMB 300 million to invest in the Dapeng New District Longqi Bay resort project, covering approximately 1,100 acres[69].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 2,136,982,000, representing an increase of 4.0% compared to HKD 2,054,909,000 for the same period in 2023[11]. - Operating profit decreased to HKD 117,553,000, down 58.7% from HKD 284,799,000 in the previous year[11]. - Profit for the period was HKD 100,387,000, a decline of 62.7% compared to HKD 269,092,000 in the same period last year[12]. - Basic and diluted earnings per share were HKD 1.14, down from HKD 4.05 in the previous year[11]. - The company reported a net loss of HKD 1,934,000 in total comprehensive income for the period, compared to a loss of HKD 40,159,000 in the previous year[12]. - The company reported a profit of HKD 63,230 for the period, with total comprehensive loss amounting to HKD 28,818[15]. - The company reported a net profit attributable to equity holders of HKD 63,230,000 for the six months ended June 30, 2024, a decrease of 71.8% compared to HKD 224,225,000 for the same period in 2023[40]. - Total revenue from financial income decreased to HKD 20,230,000 in 2024 from HKD 27,479,000 in 2023, reflecting a decline of 26.5%[36]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 25,012,180, a slight decrease from HKD 25,014,439 as of December 31, 2023[13]. - Total liabilities increased to HKD 6,853,106 from HKD 6,762,389, indicating a rise of approximately 1.34%[14]. - The company's equity attributable to owners decreased to HKD 16,276,807 from HKD 16,354,364, reflecting a decline of about 0.47%[15]. - Cash and bank balances decreased to HKD 2,570,363 from HKD 2,663,388, a decline of approximately 3.49%[13]. - The fair value of investment properties decreased to HKD 3,359,662,000 as of June 30, 2024, from HKD 3,464,007,000 at the end of 2023, reflecting a decline of 3.0%[43]. Cash Flow - Cash flow from operating activities for the first half of 2024 is HKD 275,158,000, down from HKD 542,509,000 in the previous year[17]. - The company reported a net cash outflow from investing activities of HKD 496,441,000, compared to HKD 417,956,000 in the prior year[17]. - Financing activities resulted in a net cash outflow of HKD 110,186,000, compared to HKD 44,783,000 in the previous year[17]. - The group reported a net cash position of HKD 632 million, a decrease of 18% compared to the end of the previous year[67]. Segment Performance - Revenue from the theme parks and related businesses segment was HKD 1,037,146,000, a decrease from HKD 1,065,846,000 in the previous year, reflecting a decline of about 2.5%[30][31]. - The hotel business segment generated revenue of HKD 367,805,000, up from HKD 315,636,000, indicating an increase of approximately 16.5%[30][31]. - The passenger transport segment reported revenue of HKD 536,894,000, which is an increase from HKD 438,982,000, showing a growth of around 22.3%[30][31]. - Revenue from tourism attractions and related businesses totaled HKD 1.037 billion, a decrease of 3% year-on-year, with attributable profit dropping by 70% to HKD 26 million[69]. Dividends - The company plans to distribute an interim dividend of HKD 0.015 per share on October 15, 2024[6]. - The board declared an interim dividend of HKD 0.015 per share for the six months ended June 30, 2024, consistent with the previous year[114]. - The interim dividend is expected to be paid on October 15, 2024, to shareholders listed on the register as of September 23, 2024[114]. Operational Strategies - The company continues to explore market expansion opportunities and new product development strategies[11]. - The group is focusing on enhancing operational efficiency and cost reduction to improve performance amid a complex external environment[67]. - The company aims to develop new products and services, including a new immersive cultural entertainment district in collaboration with Tencent Video[81]. - The company is focusing on integrating new technologies like AI and AR to innovate and enhance user experiences in tourism[84]. Employee and Compensation - As of June 30, 2024, the company employed 6,963 employees, with compensation based on performance and industry standards[90]. - The company’s total employee costs increased to HKD 729,875,000 in 2024 from HKD 651,586,000 in 2023, marking an increase of 12.0%[35]. Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules, with some deviations noted[112]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance shareholder value[112]. Stock Options and Shareholder Information - The company adopted a stock option plan on January 20, 2023, allowing for the issuance of up to 61,404,000 shares at an exercise price of HKD 1.72[61]. - As of June 30, 2024, the total number of unexercised stock options is 60,328,000, with an average exercise price of HKD 1.72[63]. - Major shareholders include China Travel Group with 3,385,492,610 shares, representing 61.15% of the issued share capital[108]. - The company has not reported any new rights or options held by directors or senior management in relation to the company's shares or bonds as of June 30, 2024[97].

Financial Performance - The company reported a revenue of HKD 2,136,982 thousand for the six months ended June 30, 2024, compared to HKD 2,054,909 thousand for the same period in 2023, representing an increase of approximately 4%[3]. - The operating profit for the six months ended June 30, 2024, was HKD 117,553 thousand, a decrease from HKD 284,799 thousand in the previous year, indicating a decline of about 59.5%[4]. - The profit before tax decreased to HKD 165,230 thousand from HKD 342,535 thousand year-on-year, reflecting a decline of approximately 51.8%[4]. - The net profit attributable to equity holders for the period was HKD 63,230 thousand, down from HKD 224,225 thousand in the previous year, a decrease of about 71.8%[4]. - The basic and diluted earnings per share for the six months ended June 30, 2024, were HKD 1.14, compared to HKD 4.05 for the same period in 2023, representing a decline of approximately 71.8%[4]. - The company reported a total comprehensive loss of HKD 1,934 thousand for the period, compared to a loss of HKD 40,159 thousand in the previous year[5]. - The net profit for the six months ended June 30, 2024, was HKD 100,387,000, compared to HKD 269,092,000 for the same period in 2023, indicating a decrease of approximately 63%[18]. - The group reported a net loss from changes in the fair value of derivative financial instruments of HKD 12,543,000 in the previous year, which was not present in the current period[23]. - In the first half of 2024, the group's consolidated revenue was HKD 2.137 billion, an increase of 4% year-on-year, while profit attributable to shareholders decreased by 72% to HKD 63 million[33]. - The group's operating profit was HKD 162 million, down 22% year-on-year, primarily due to a decline in the fair value of investment properties[33]. Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to HKD 16,695,091 thousand, slightly up from HKD 16,693,713 thousand at the end of 2023[6]. - The total liabilities increased to HKD 6,853,106 thousand from HKD 6,762,389 thousand, indicating a rise of approximately 1.3%[8]. - The total equity attributable to equity holders decreased to HKD 16,276,807 thousand from HKD 16,354,364 thousand, reflecting a decline of about 0.5%[8]. - Total assets as of June 30, 2024, were HKD 25.012 billion, a slight decrease of 0.01% from the end of the previous year[33]. - The company's financial status remains strong, with cash and bank balances of HKD 2.574 billion and total borrowings of HKD 1.940 billion, resulting in a debt-to-equity ratio of 29%[54]. - The company's net asset value of pledged properties amounted to HKD 0.773 billion as of June 30, 2024, an increase from HKD 0.705 billion at the end of 2023[56]. Revenue Segments - The segment revenue from the theme parks and related businesses was HKD 1,037,146,000, while the hotel business generated HKD 367,805,000, and the passenger transport segment contributed HKD 536,894,000[16]. - Revenue from tourism attractions and related income increased to HKD 901,910,000, up 16.6% from HKD 772,882,000 in the previous year[22]. - Hotel revenue rose to HKD 376,398,000, reflecting a 10.1% increase compared to HKD 341,749,000 last year[22]. - Revenue from tourism attractions and related businesses was HKD 1.037 billion, a decrease of 3% year-on-year, with attributable profit dropping 70% to HKD 26 million[35]. - Theme park revenue fell to HKD 291 million, a decrease of 7% year-on-year, with attributable profit down 38% to HKD 30 million[36]. - Revenue from cultural and natural scenic destinations increased by 41% to HKD 509 million, although attributable profit decreased by 6% to HKD 61 million[37]. - The Shapotou scenic area generated revenue of HKD 141 million, up 17% year-on-year, benefiting from summer activities[37]. - The newly established Qiandao Lake Company recorded revenue of HKD 30 million in the first half of 2024, focusing on project renovation and marketing expansion[37]. - The Yunnan Company, also established in December 2023, generated revenue of HKD 52 million, aiming to enhance brand influence in the Southwest region[37]. - Leisure resort destination revenue decreased by 41% to HKD 219 million, with attributable loss increasing by 423% to HKD 68 million due to reduced real estate revenue recognition[38]. - Zhuhai Huaqing Bay revenue fell by 46% to HKD 86 million, primarily due to a significant decrease in real estate revenue; marketing initiatives are being implemented to boost existing project income[38]. - Hotel business revenue increased by 16% to HKD 368 million, with attributable profit rising by 19% to HKD 82 million, driven by the recovery of international tourism[40]. - Passenger transport business revenue grew by 22% to HKD 537 million, although attributable profit decreased by 10% to HKD 6 million[42]. Strategic Focus and Development - The company continues to focus on its core businesses, including tourism and hotel operations, as part of its strategic direction[10]. - The group plans to enhance product development and project implementation in tourism consulting services, which saw a 34% revenue increase[39]. - The group is focusing on creating a "first-class tourism destination investment and operation service provider" by enhancing investment, product, digitalization, and operational capabilities[43]. - New product launches include the Jurassic Water World and immersive cultural entertainment areas in collaboration with Tencent Video, aimed at transforming existing attractions[43]. - The company is actively exploring overseas business opportunities and market expansion following the resumption of cross-border transport services[42]. - The company is actively expanding into the Hong Kong market, utilizing various channels such as newspapers and YouTube to tap into customer purchasing potential[44]. - The company has completed the main construction phase of the "China Travel Investment Building Project," which aims to be a landmark integrated complex for business offices and exhibition leisure areas[44]. - The company has 21 scenic spots under its management, including 7 A-level and 7 4A-level sites, with a focus on providing customized solutions for tourism destinations[45]. - In the first half of 2024, the company is advancing digital transformation, integrating AI and AR technologies to enhance visitor experiences and operational efficiency[46]. - The company plans to continue expanding its bus fleet in Hong Kong by acquiring seven second-hand tourist buses for HKD 9.98 million, capitalizing on the growing demand for non-franchised bus services[47]. - The company is progressing with the Maldives project, with land reclamation work nearly completed and moving into the hotel design phase[48]. - The company has launched the Hung Hom Metropark Hotel, which targets the mid-to-high-end market, providing stable and competitive revenue[48]. - The company is optimizing its existing assets, including the acquisition of a serviced apartment property in Wan Chai, enhancing operational synergy with nearby hotels[48]. Corporate Governance and Compliance - The company has maintained its accounting policies consistent with previous periods, with no significant impact from the revised Hong Kong Financial Reporting Standards adopted during the period[13]. - The company has not engaged in supplier financing arrangements, thus the recent amendments to the accounting standards did not affect its financial statements[14]. - The company declared an interim dividend of HKD 0.015 per share, consistent with the previous year's dividend[28]. - The company declared an interim dividend of HKD 0.015 per share for the six months ending June 30, 2024, consistent with the previous year[60]. - The board of directors confirmed compliance with the standard code of conduct for securities trading for the six months ending June 30, 2024[59]. - The company will suspend share transfer registration from September 19, 2024, to September 23, 2024, to determine eligibility for the interim dividend[61]. - The interim financial results for the six months ending June 30, 2024, have been reviewed by the audit committee but not audited[62]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance shareholder value[58]. Employee and Economic Outlook - As of June 30, 2024, the company employed 6,963 employees, with compensation based on performance and industry standards[53]. - The company anticipates a slow recovery of the Hong Kong and mainland China economies in the second half of 2024, influenced by high market interest rates and geopolitical developments[52]. - The company's total GDP for the first half of 2024 was HKD 61.7 trillion, with a year-on-year growth of 5.0%[51]. - The company is focused on enhancing its core competencies in investment, product, digital, and operational capabilities to drive development[49]. - The company has implemented safety measures and training across new projects, including safety inspections at the Qian Dao Lake and Lan Yue hotels[49]. - The company has not utilized any specific hedging tools to manage foreign exchange risks, opting instead for close monitoring and management of currency risks[55]. - The company has provided a performance guarantee of HKD 0.3 million to a customer for fulfilling a sales contract as of June 30, 2024[57]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[56].

Financial Performance - The company reported a total revenue of HKD 1.2 billion for the fiscal year 2023, representing a 15% increase compared to the previous year[3]. - The company reported a revenue of HKD 4,494,211 thousand for the fiscal year 2023, an increase of 48.3% compared to HKD 3,031,936 thousand in 2022[14]. - Gross profit for 2023 was HKD 1,515,118 thousand, significantly up from HKD 308,409 thousand in the previous year, reflecting a gross margin improvement[14]. - The company achieved a profit from continuing operations of HKD 345,496 thousand in 2023, a turnaround from a loss of HKD 665,616 thousand in 2022[14]. - Earnings per share (EPS) for 2023 was HKD 4.33, compared to a loss per share of HKD -6.43 in 2022[12]. - The company reported a net profit margin of 12% for 2023, up from 10% in the previous year[3]. - The group’s consolidated revenue for 2023 was HKD 4.494 billion, representing a 48% increase compared to the previous year[33]. - Shareholders' profit was HKD 240 million; excluding the impact of land value tax on real estate projects, the profit was HKD 436 million[33]. - The company reported a pre-tax profit of HKD 702 million, a significant turnaround from a pre-tax loss of HKD 685 million in the previous year[42]. Market Expansion and Growth Strategy - User data indicates a growth in customer base by 20%, reaching 2 million active users by the end of 2023[3]. - The company has provided a positive outlook for 2024, projecting a revenue growth of 10% to 12%[3]. - New product launches are expected to contribute an additional HKD 200 million in revenue in 2024[3]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[3]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[14]. Operational Efficiency and Cost Management - The company aims to enhance its operational efficiency, targeting a 5% reduction in operational costs by the end of 2024[3]. - Investment in new technology development has increased by 30%, totaling HKD 150 million in 2023[3]. - The company’s financial position remains strong, with net cash of HKD 774 million, although it decreased by 57% compared to the previous year[42]. - The group aims to enhance operational efficiency by optimizing existing assets, including properties in Hong Kong, to unlock value[62]. Corporate Governance and Board Structure - The company emphasizes its commitment to corporate governance through the establishment of various committees, including audit, remuneration, and nomination committees[26]. - The board consists of 11 members, including 3 executive directors, 3 non-executive directors, and 5 independent non-executive directors[133]. - All independent non-executive directors have confirmed their independence in accordance with the listing rules[134]. - The company has adopted and complied with the corporate governance code provisions as per the listing rules, with some deviations noted[131]. - The company has established effective internal controls and risk management measures as part of its corporate governance framework[131]. Dividends and Shareholder Returns - The board has approved a dividend of HKD 0.01 per share, to be distributed in June 2024[8]. - The company declared a dividend of HKD 2.50 per share for 2023, with a payout ratio of 57.78%[12]. - The group has declared a final dividend of HKD 0.01 per share for the year ending December 31, 2023, compared to no dividend in the previous year[71]. Technological Innovations and Sustainability - The company aims to leverage new technologies like AI and blockchain to enhance customer experience and service capabilities[36]. - The company has been recognized for its technological innovations, winning multiple awards in the field of technology and innovation[36]. - The company is committed to reducing air pollutants and greenhouse gas emissions in its passenger transport operations, utilizing high-quality energy-saving diesel vehicles[197]. - The company has established a leadership team for energy conservation and ecological environmental protection, emphasizing the importance of sustainable development[194]. Strategic Acquisitions and Partnerships - The company has completed a strategic acquisition of a local competitor for HKD 500 million, enhancing its service offerings[3]. - The company is actively pursuing partnerships with local state-owned cultural tourism enterprises to complement resource advantages and expand new landmark projects[39]. - The company plans to acquire cross-border passenger transport companies to address development bottlenecks and enhance the transportation platform in the Guangdong-Hong Kong-Macao Greater Bay Area[61]. Employee and Director Compensation - The group employs 6,772 staff members, with compensation based on performance and industry standards, and regularly evaluates its remuneration policies[65]. - The company has implemented a new share option plan to incentivize and reward directors and employees, enhancing flexibility and value for shareholders[65]. - The compensation committee held two meetings in 2023 to review the remuneration of directors and senior management, recommending stock options for a total of up to 61,404,000 ordinary shares[146]. Economic Outlook and External Environment - China's GDP growth for 2023 was 5.2%, contributing over 30% to global economic growth, indicating a stable external environment for business development[34]. - The company anticipates that the economic recovery in Hong Kong will accelerate following the reopening with mainland China, despite challenges such as high interest rates[34]. - The group expects a significant growth in inbound tourism in China in 2024, following the expansion of visa-free countries to 8[66]. Community Engagement and Corporate Social Responsibility - The company is committed to corporate social responsibility, investing in local communities and enhancing the efficiency of aid funds[39]. - The group made charitable donations totaling HKD 17.79 million during the year[74]. - The company encourages employees to develop and implement environmental protection plans, promoting sustainability awareness[186].

Financial Performance - The company's total revenue for 2023 reached HKD 4.494 billion, representing a 48% increase compared to the previous year[1]. - Shareholders' profit amounted to HKD 240 million; excluding the impact of land value tax on real estate projects, the profit was HKD 436 million[1]. - Basic earnings per share were HKD 0.0433, recovering from a loss of HKD 356 million in the previous year[1]. - The gross profit for the same period was HKD 1,515,118 thousand, compared to HKD 308,409 thousand in the previous year, indicating a substantial increase in profitability[9]. - The net profit for the year was HKD 345,494 thousand, a turnaround from a net loss of HKD 665,616 thousand in 2022, showcasing a recovery in financial performance[9]. - The company achieved a basic earnings per share of HKD 4.33, compared to a loss per share of HKD 6.43 in the prior year, reflecting improved earnings capacity[9]. - The operating profit for the business was HKD 283 million, compared to an operating loss of HKD 257 million in the previous year[44]. - The company reported a loss of HKD 665,616,000 for the year ended December 31, 2022, highlighting a significant turnaround in 2023[25]. - The company reported a net profit of HKD 345,494,000 for the year, despite a fair value loss of HKD 19,171,000 on investment properties[21]. Assets and Liabilities - As of December 31, 2023, cash and bank balances stood at HKD 2.663 billion, with total assets of HKD 25.014 billion and a debt-to-capital ratio of 33%[1]. - The overall asset value of the company as of December 31, 2023, was HKD 25,014,439 thousand, an increase from HKD 23,763,327 thousand in 2022, reflecting growth in asset management[11]. - Total equity attributable to owners increased to HKD 9,222,295, up from HKD 6,977,197, representing a growth of approximately 32%[14]. - Total liabilities rose to HKD 6,762,389, compared to HKD 5,785,714, indicating an increase of about 17%[14]. - Non-current liabilities totaled HKD 2,552,177, a significant increase from HKD 1,691,702, reflecting a growth of approximately 51%[14]. - Current liabilities amounted to HKD 4,210,212, up from HKD 4,094,012, showing a slight increase of about 3%[14]. - Total equity and liabilities reached HKD 25,014,439, compared to HKD 23,763,327, marking an increase of around 5.3%[14]. - Bank and other borrowings increased significantly to HKD 662,964 from HKD 210,788, representing a growth of about 214%[14]. Revenue Segments - The tourism attractions and related business segment generated revenue of HKD 2,303,832,000, while the hotel business segment contributed HKD 693,873,000[22]. - The revenue from the tourism sector and related businesses was HKD 1,855,296,000, up from HKD 707,016,000 in 2022, indicating a growth of about 162.3%[33]. - Theme park revenue reached HKD 670 million, a growth of 233%, with a profit attributable to shareholders of HKD 79 million, recovering from a loss of HKD 66 million last year[48]. - Revenue from cultural and natural scenic destinations was HKD 956 million, an increase of 175%, with a profit of HKD 161 million, recovering from a loss of HKD 38 million last year[49]. - The revenue from leisure resort destinations was HKD 629 million, a decrease of 64%, with a loss attributable to shareholders of HKD 293 million, down from a profit of HKD 141 million last year[50]. - Revenue from tourism certificate and related businesses was HKD 474 million, a significant increase of 305%, with a profit of HKD 251 million, recovering from a loss of HKD 400,000 last year[52]. - Hotel business revenue was HKD 694 million, an increase of 48%, with a profit attributable to shareholders of HKD 162 million, up 827% from the previous year[53]. - Passenger transport business revenue reached HKD 989 million in 2023, a significant increase of 1,808% compared to the previous year, with a profit of HKD 20 million after a loss of HKD 169 million in 2022[55]. Strategic Initiatives - The company plans to deepen its presence in Hong Kong's tourism market with the completion of the Hung Hom Hotel and the acquisition of the Parkview Long-term Rental Apartment[5]. - The company aims for breakthrough progress in tourism projects in Hainan by 2024, with a clear target and timeline[5]. - The company is enhancing its capital market valuation and investor communication through performance announcements and industry roadshows[5]. - The company is integrating new technologies such as AI and blockchain into tourism experiences to improve customer service and operational efficiency[5]. - The company is actively expanding its projects in major tourist provinces such as Sichuan, Yunnan, and Guizhou, and is progressing with the Maldives Ambaala Island resort project as part of its international strategy[6]. - The company aims to enhance its core service capabilities and has established a 4D service standard system, launching new service brands "WILD" and "SOUL" for cultural and leisure destinations[56]. - The company is focusing on creating a world-class "cross-border waterfall eco-resort" in the Detian scenic area, promoting tourism cooperation along the Belt and Road Initiative[57]. - The company is leveraging "technology + tourism" to drive business model upgrades and enhance customer experience through digital platforms and innovative technologies like blockchain and VR[63]. Corporate Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, with no significant impact from newly adopted standards[16]. - The company has complied with the corporate governance code, with some deviations noted regarding independent director meetings and formal appointment letters[80]. - All directors confirmed compliance with the standard code of conduct for securities trading throughout the year ending December 31, 2023[81]. - The audit committee reviewed the accounting principles and practices adopted by the company for the year ending December 31, 2023[82]. Future Outlook - The global economy is expected to show resilience, with the IMF projecting China's economic growth at 4.6% and global growth at 3.1% for 2024[75]. - The company anticipates significant growth in inbound tourism in China for 2024, supported by government policies and the resumption of travel[75]. - The group is confident in improving operational performance and results for 2024, leveraging opportunities from the full reopening of the market[76]. - The group aims to explore diversified long-term value opportunities for shareholders[76].

智通财经APP讯，香港中旅(00308)发布公告，集团把握内地旅游市场复苏契机，乘势而上，通过加强行 销、在产品提升方面全面发力、推进数字化转型、并提升运营、服务品质和旅客体验等措施，属下旅游 景区、酒店及客运业务于2024年春节期间取得强劲的运营表现。 集团旅游景区业务接待游客约108万人次，较2023年春节假期期间(共8天，按可比口径，"2023年春节期 间")及新冠疫情前的2019年春节假期期间(共8天，按可比口径，"2019年春节期间")分别增长约69%及 15%;实现收入约人民币1.24亿元，较2023年春节期间及2019年春节期间分别增长约46%及14%;其中深圳 世界之窗、宁夏沙坡头景区、广西德天跨国瀑布景区、庐山秀峰索道景区接待游客量和营业收入均创同 期历史新高。集团旗下港澳5家酒店于2024年春节期间取得营业收入共约1900万港元，较2023年春节期 间增长约82%。 此外，2024年春节期间港澳游客量剧增，集团客运业务(客车及客船)总体业绩较好，接待游客约16.3万 人次，较2023年春节期间增长约123%;实现收入约2386万港元，较2023年春节期间增长约108%。 ...

中期報告 2023 目錄 公司資料2 | --- | --- | |-------------------|--------------------------| | | | | 未經審核中期業績 | | | – 獨立審閱資料 | | | – 簡明合併損益表 | | | – | 簡明合併全面收益表 | | – | 簡明合併財務狀況表 | | – | 簡明合併權益變動表 | | – | 簡明合併現金流量表 | | – | 簡明合併中期財務資料附註 | 4 5 6 7 9 11 12 管理層討論及分析 34 其他資料 43 頁次 財務日誌及股東資料3 公司資料 | --- | --- | |---------------------|----------------------------------| | | | | 董事 | 提名委員會 | | 吳強先生 （主席） | 吳強先生 （主席） | | 馮剛先生 （總經理） | 謝祖墀先生 | | 李鵬宇先生 | 張小可先生 | | 曾偉雄先生 # | 黃輝先生 | | 陶曉斌先生 # | 陳志宏先生 | | 范志識先生 # | 宋大偉先生 | | 謝祖墀先生 * ...

[51 -> 79] Hello, ladies and gentlemen. Welcome to the 2023 Intermediate-Level Entrepreneurship Investment and Analysts' Recommendation Meeting. First of all, allow me to introduce the representatives of the management level who will attend today. They are Mr. Wu Qiang, Chairman and Executive Director, Mr. Feng Gang, General Manager and Executive Director, Mr. Ha Yu Feng, Vice General Manager, [81 -> 83] Finance Director Zhang Daorong. [86 -> 115] Today's meeting will be divided into four parts. In the firs ...