Financial Performance - For the six months ended June 30, 2023, the company reported a profit of HKD 269,092,000 compared to a loss of HKD 462,285,000 in the same period last year, marking a significant turnaround [4]. - The company's gross profit for the period was HKD 885,326,000, a decrease from HKD 1,023,541,000 in the previous year, indicating a decline of approximately 13.5% [3]. - The company's earnings per share for the period was HKD 4.05, compared to a loss per share of HKD 5.15 in the previous year [4]. - Total revenue for the six months ended June 30, 2023, was HKD 2,054,909,000, a significant increase from HKD 885,326,000 in the previous year, representing a growth of approximately 132.5% [19][21]. - The group recorded a fair value change of investment properties amounting to HKD 29,111,000 after tax for the first half of 2023, compared to a loss of HKD 26,747,000 in the same period of 2022 [18][20]. - The group reported a net operating profit of HKD 224,225,000 for the six months ended June 30, 2023, compared to a loss of HKD 285,102,000 in the same period of 2022 [30]. - The company incurred a tax expense of HKD 72,486,000 for the six months ended June 30, 2023, significantly higher than HKD 5,100,000 in the same period of 2022 [28]. - The company experienced a net financial income of HKD 27,479,000 for the six months ended June 30, 2023, slightly up from HKD 27,163,000 in the same period of 2022 [26]. Assets and Liabilities - The total assets as of June 30, 2023, amounted to HKD 23,696,290,000, slightly down from HKD 23,763,327,000 at the end of the previous year [9]. - Non-current assets totaled HKD 15,428,580,000, a decrease from HKD 15,869,417,000 year-on-year [7]. - The total liabilities decreased to HKD 5,728,389,000 from HKD 5,785,714,000, reflecting a reduction of approximately 1% [11]. - The company’s total equity stood at HKD 17,967,901,000, slightly down from HKD 17,977,613,000 year-on-year [9]. - As of June 30, 2023, the company had cash and bank balances of HKD 2,684,057,000, down from HKD 2,797,976,000 at the end of the previous year [8]. - As of June 30, 2023, the company had cash and bank balances of HKD 2.684 billion and bank and other borrowings of HKD 970 million, resulting in a debt-to-equity ratio of 27% [59]. Business Segments and Revenue Sources - The segment revenue from the theme parks and related businesses was HKD 1,065,846,000, while the travel document segment generated HKD 219,393,000, and the hotel business contributed HKD 315,636,000 [19]. - Revenue from tourism attractions and related services reached HKD 772,882,000, up from HKD 249,684,000, marking a growth of about 209% year-over-year [23]. - The company’s hotel revenue increased to HKD 341,749,000 from HKD 210,380,000, reflecting a growth of approximately 62% year-over-year [23]. - The company’s real estate sales revenue decreased to HKD 217,066,000 from HKD 297,581,000, indicating a decline of about 27% year-over-year [23]. - The theme park segment reported revenue of HKD 313 million, a 202% increase year-on-year, with a profit of HKD 48 million, reversing a loss of HKD 43 million from the previous year [37]. - The natural and cultural scenic destinations achieved revenue of HKD 362 million, a 415% increase year-on-year, with a profit of HKD 65 million, compared to a loss of HKD 60 million in the same period last year [38]. - Passenger transport business revenue surged to HKD 439 million, a staggering increase of 1,622% year-on-year, with a profit of HKD 6 million compared to a loss of HKD 100 million in the previous year [46]. Dividends and Shareholder Returns - The company proposed an interim dividend of HKD 0.015 per share for the six months ended June 30, 2023, compared to no dividend in the same period of 2022 [29]. - The company declared an interim dividend of HKD 0.015 per share, with a dividend payout ratio of 37% [35]. Strategic Initiatives and Future Plans - The group plans to continue expanding its theme park operations and related services in mainland China, focusing on enhancing customer experience and operational efficiency [17]. - The management is committed to exploring new market opportunities and potential acquisitions to drive future growth and profitability [17]. - The company plans to enhance market development and product offerings in its theme parks, including new projects and events to attract visitors [37]. - The company is focusing on improving service quality and marketing efforts in its scenic destinations, with significant revenue growth from key sites like the Shapotou Scenic Area and Detian Scenic Area [38][39]. - The company aims to establish a world-class tourism destination project and enhance operational capabilities through digital transformation and product development [47]. - The company is focused on launching new tourism and resort projects, including the "Xinjiang Kuerdening Camp" and "Lugu Lake Boutique Resort Hotel," with expected openings in the second half of the year and early 2024 respectively [47]. - The company aims to enhance the "Haiquan Bay" brand through property upgrades and new developments, with plans to open the Neptune Hotel in the second half of the year [48]. Operational Challenges and Market Conditions - The company continues to face challenges from global economic uncertainties but remains committed to improving operational efficiency and cost reduction [34]. - The overall economic recovery in Hong Kong has been supported by a rise in visitor numbers exceeding 10 million in the first half of 2023, boosting local consumer confidence [56]. - The company aims to leverage opportunities from the full reopening of borders and is confident in improving operational performance and results in the second half of 2023 [56]. Employee and Governance Matters - As of June 30, 2023, the company employed 6,571 staff, with compensation based on performance and industry standards [57]. - The company adopted a new share option plan in January 2023, allowing for greater flexibility in incentivizing and rewarding employees [58]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange, with some deviations noted regarding formal appointment letters for certain directors [63].

(股份代號：308) 香港❤ 永國際投資有限公司 CHINA TRAVEL INTERNATIONAL INVESTMENT HONG KONG LIMITED ..... BOARDING PASS ons IN 81 AUNIVE IS SHIFF FREE IT F INSUMIT IN III III III name of Passenger 82 Black 25 Months Walls Wall 0 目錄 頁次 頁次 企業管治報告 42 公司資料2 環境、社會及管治報告 58 財務日誌及投資者關係資料3 獨立核數師報告 94 主要業務4 合併損益表 103 財務比率摘要5 合併全面收益表 104 五年財務概要6 合併財務狀況表 105 財務回顧7 合併權益變動表 107 董事簡介8 合併現金流量表 109 主席報告書 12 合併財務報表附註 111 管理層討論及分析 17 主要酒店物業資料 207 董事局報告 27 主要投資物業資料 208 00.0000 公司資料 | --- | --- | |------------------------------------------------- ...

Financial Performance - In 2022, the company's total revenue was HKD 3.032 billion, a decrease of 17% year-on-year[1]. - The company reported a pre-tax loss of HKD 685 million, compared to a pre-tax profit of HKD 15 million in the previous year[1]. - Shareholders' loss amounted to HKD 356 million, down from a profit of HKD 174 million in the previous year[1]. - The company's revenue for the year ended December 31, 2022, was HKD 3,031,936, a decrease of 16.9% compared to HKD 3,647,829 in 2021[8]. - The operating loss for 2022 was HKD 673,982, compared to a loss of HKD 107,936 in 2021, indicating a significant decline in performance[8]. - The total annual loss for 2022 was HKD 665,616, compared to a loss of HKD 91,587 in the previous year, reflecting a worsening financial situation[9]. - The company's basic loss per share for 2022 was HKD 6.43, compared to earnings of HKD 3.14 per share in 2021[8]. - The financial net income for 2022 was HKD 53,216,000, a decrease of 28.9% from HKD 74,787,000 in 2021[31]. - The overall financial and business condition of the company is considered stable despite the challenges faced in 2022[8]. Assets and Liabilities - As of December 31, 2022, the company's cash and bank balance was HKD 2.798 billion, with total assets of HKD 23.763 billion and a debt-to-capital ratio of 27%[1]. - Total assets as of December 31, 2022, amounted to HKD 23,763,327, down from HKD 25,808,398 in 2021, indicating a decrease in asset value[10]. - The company's cash and bank balances decreased to HKD 2,797,976 in 2022 from HKD 3,074,492 in 2021, showing a decline in liquidity[10]. - Total liabilities decreased from HKD 4,869,342,000 to HKD 4,094,012,000, representing a reduction of about 15.9%[13]. - The total capital expenditure included HKD 644,491 for property, plant, and equipment and land lease prepayments[25]. Revenue Breakdown - Revenue from tourism attractions and related businesses was HKD 2,368,320,000, while the hotel business generated HKD 469,238,000[19]. - The travel agency and related business segment reported revenue of HKD 117,191,000, indicating a modest contribution to overall revenue[19]. - Revenue from tourism attractions and related services was HKD 707,016,000, down 45.4% from HKD 1,295,060,000 in the previous year[30]. - Hotel revenue increased to HKD 501,037,000, up 7.8% from HKD 464,579,000 in 2021[30]. - Revenue from theme parks was HKD 201 million, a 50% decrease, with attributable losses of HKD 66 million, compared to a loss of HKD 40 million in the previous year[45]. - Revenue from natural and cultural scenic destinations was HKD 348 million, a 45% decrease, with attributable losses of HKD 38 million, down from a profit of HKD 37 million in the previous year[46]. Strategic Initiatives - The company aims to become a leading tourism destination investment and operation service provider, focusing on high-quality tourism resources and launching new products[3]. - The company is preparing for the resumption of cross-border travel and has completed the topping out of the Hung Hom hotel project, expected to trial operations in January 2024[3]. - The company aims to leverage opportunities from the "Guangdong-Hong Kong-Macao Greater Bay Area" strategy to expand its domestic and international business[8]. - The company plans to enhance its leisure resort business through partnerships with leading brands and product upgrades, aiming to lead the domestic leisure resort market[4]. - The company is focused on expanding its operations in mainland China, particularly in theme parks and tourism-related services[18]. - The company is committed to exploring strategic acquisitions to bolster its market position and expand its service offerings[18]. Market Conditions - The Hong Kong economy contracted by 3.5% year-on-year in 2022, with an unemployment rate of 3.5% from October to December[2]. - In the first two months of 2023, total revenue from tourism attractions and related businesses has recovered to the levels of the same period in 2019, with some attractions achieving record performance[8]. - The group expects significant recovery in 2023, driven by the lifting of travel restrictions and supportive economic policies in mainland China[71]. Corporate Governance - The board of directors does not recommend the distribution of a final dividend for the year ended December 31, 2022[43]. - The group has adhered to the corporate governance code, with no significant deviations reported for the year ending December 31, 2022[74]. - The audit committee reviewed the accounting principles and practices adopted by the company for the year ending December 31, 2022[77]. - The company has confirmed compliance with the standard code of conduct for securities trading by all directors for the year ending December 31, 2022[76]. Future Outlook - The company plans to enhance its product offerings by introducing interactive and immersive experiences targeting local family markets, with a focus on cultural integration through digital tourism[56]. - The company aims to establish a high-end, differentiated development model for its Star Hotel, creating a new vacation model that combines scenic areas with unique hotels, and plans to launch a "Diamond Hotel" in 2023[56]. - The company is committed to a comprehensive operational model that integrates resource acquisition, product development, service enhancement, and marketing support for its luxury hotel projects[56]. - The company is focusing on improving operational efficiency in its passenger transport business by acquiring cross-border transport companies and optimizing routes to increase market share[59]. - The company is enhancing its wine sales service levels and accelerating hotel construction and operations to create a premium experience[56].

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 571.3 million, a decrease of 74.3% compared to HKD 2,219.7 million in the same period of 2019[25] - The company reported a gross loss of HKD 23.7 million, compared to a gross profit of HKD 1,013.0 million in the previous year[25] - Operating loss for the period was HKD 651.3 million, a significant decline from an operating profit of HKD 545.9 million in 2019[25] - The net loss attributable to equity holders was HKD 443.5 million, compared to a profit of HKD 419.4 million in the same period last year[25] - Basic and diluted loss per share was HKD 8.01, compared to earnings of HKD 7.69 per share in 2019[25] - Total comprehensive loss for the period amounted to HKD 741.4 million, compared to a total comprehensive income of HKD 472.4 million in the previous year[28] - Other income and net gains for the period were HKD 67.1 million, down from HKD 216.2 million in 2019[25] - The company experienced a significant increase in administrative expenses, totaling HKD 403.3 million, compared to HKD 445.0 million in the same period of 2019[25] - The company reported a loss of HKD 443,486 thousand for the period, compared to a profit of HKD 419,426 thousand in the previous period[35] - Other comprehensive loss for the period amounted to HKD 193,355 thousand, contributing to a total comprehensive loss of HKD 636,841 thousand[35] Assets and Liabilities - Total assets decreased to HKD 21,478,757 thousand as of June 30, 2020, down from HKD 21,806,928 thousand as of December 31, 2019, representing a decline of approximately 1.5%[31] - Non-current assets totaled HKD 14,793,277 thousand, slightly down from HKD 14,884,523 thousand, indicating a decrease of about 0.6%[31] - Current assets decreased to HKD 6,685,480 thousand from HKD 6,922,405 thousand, reflecting a decline of approximately 3.4%[31] - Total liabilities increased to HKD 4,856,018 thousand from HKD 4,442,761 thousand, marking an increase of about 9.3%[33] - The company's equity attributable to owners decreased to HKD 15,449,434 thousand from HKD 16,086,275 thousand, a decline of approximately 4.0%[37] - Non-controlling interests decreased to HKD 1,173,305 thousand from HKD 1,277,892 thousand, reflecting a decrease of about 8.2%[37] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2020, was a net outflow of HKD 535,138, compared to a net inflow of HKD 26,165 in 2019, indicating a significant decline in operational performance[39] - Cash and cash equivalents decreased by HKD 268,287 during the six months ended June 30, 2020, compared to an increase of HKD 816,968 in the same period of 2019[42] - The company reported a net cash outflow from investing activities of HKD 24,163 for the first half of 2020, a stark contrast to a net inflow of HKD 1,060,287 in 2019, reflecting reduced investment activity[39] - Total cash and cash equivalents as of June 30, 2020, stood at HKD 2,156,391, down from HKD 1,908,401 in 2019, showing a decrease in liquidity[42] - The company incurred a net cash inflow from financing activities of HKD 291,014 in the first half of 2020, compared to a net outflow of HKD 269,484 in the same period of 2019, indicating a shift towards financing[39] Revenue Breakdown - Revenue from the tourism sector and related businesses was HKD 230,481,000, down from HKD 919,510,000 in 2019, reflecting a decrease of approximately 74.9%[64][66] - The hotel business generated revenue of HKD 135,565,000, a significant drop from HKD 401,151,000 in the previous year, indicating a decline of about 66.2%[64][66] - The transportation business reported revenue of HKD 45,501,000, down from HKD 253,409,000, marking a decrease of approximately 82.0%[64][66] - The tourism destination business generated total revenue of HKD 366 million, a decrease of 72% year-on-year, with a loss of HKD 180 million compared to a profit of HKD 295 million last year[114] - The hotel business revenue was HKD 136 million, down 66% year-on-year, with a loss of HKD 71 million compared to a profit of HKD 80 million last year[115] Strategic Initiatives - The company plans to continue monitoring its operational segments closely to make informed decisions regarding resource allocation and performance evaluation[63] - The group aims to accelerate revenue growth from existing businesses, with initiatives such as introducing new ticketing options and enhancing product offerings at various attractions[128] - The group is actively pursuing digital transformation, establishing an ERP platform and a dedicated office to enhance integrated management across business operations[128] - The group is focusing on strategic acquisitions of quality scenic resources to create new profit growth points and expand into overseas markets[132] - The group plans to invest approximately RMB 334 million in developing tourism and real estate projects in Jintang County, Sichuan, with the aim of enhancing market share and brand recognition[132] Corporate Governance and Shareholder Structure - The company has adhered to the corporate governance code as per the listing rules, with deviations noted regarding the appointment terms of non-executive directors[177] - The board of directors confirmed compliance with the standard code of conduct for securities trading for the six months ending June 30, 2020[178] - Major shareholder China Travel Group holds 3,385,492,610 shares, representing 61.15% of the company's ordinary shares[170] - The company’s major shareholders are controlled by China Travel Group, which is directly or indirectly managed by the State Council of the People's Republic of China[172] - The company has a floating income investment with a capital protection nature, continuously monitoring income risks and diversifying investment risks through appropriate asset allocation[145]

Financial Performance - The company reported earnings per share (EPS) of HKD 7.08 for 2019, a decrease of 43.33% compared to HKD 12.60 in 2018[22]. - Revenue for 2019 was HKD 4,476,996, a decrease of 0.9% compared to HKD 4,518,180 in 2018[25]. - Gross profit for 2019 was HKD 1,823,665, down 6.8% from HKD 1,957,997 in 2018[25]. - Profit before tax decreased to HKD 734,312 in 2019, a decline of 29.3% from HKD 1,038,864 in 2018[25]. - Net profit attributable to equity holders was HKD 386,880 in 2019, down 43.8% from HKD 687,076 in 2018[25]. - The group's profit before tax was HKD 734 million, down 29% year-on-year[55]. - The profit attributable to shareholders was HKD 387 million, a decrease of 44% compared to the previous year[55]. Dividends and Payouts - The dividend payout ratio increased to 42.39% in 2019 from 23.81% in 2018, with a consistent dividend of HKD 3.00 per share[22]. - The company declared an interim dividend of HKD 0.03 per share, consistent with the previous year, and did not recommend a final dividend for the year[116]. Assets and Liabilities - Total assets increased to HKD 21,806,928 in 2019, up from HKD 21,491,775 in 2018[25]. - Total liabilities rose slightly to HKD 4,442,761 in 2019 from HKD 4,379,751 in 2018[25]. - The total cash and bank balances decreased by 9% to HKD 3.669 billion, with net cash increasing by 37% to HKD 3.117 billion after deducting borrowings[70]. Operational Efficiency and Strategy - The company plans to focus on market expansion and new product development in the upcoming year[26]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs by the end of the next fiscal year[50]. - The group aims to enhance operational efficiency and asset value through the revitalization and optimization of existing assets, including properties in Hong Kong[87]. - The group is actively promoting the revitalization and optimization of its properties in Hong Kong to enhance asset operational efficiency[59]. Market Expansion and Growth - The company is actively exploring new market opportunities and potential acquisitions to drive growth in the tourism sector[12]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2025[50]. - The company plans to invest approximately RMB 1.45 billion in the Daxin County tourism project, including renovations to the Detian Waterfall scenic area and related real estate projects[104]. Stakeholder Engagement and Governance - The company has established a competitive compensation system that includes a basic monthly salary, annual bonuses, benefits, and long-term incentives, ensuring alignment with performance and shareholder interests[134]. - The independent non-executive directors confirmed that the continuing connected transactions for the year ended December 31, 2019, were conducted in the ordinary course of business and on normal commercial terms[167]. - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing risk management and internal controls[199]. Research and Development - Research and development expenses increased by 30%, totaling $150 million, to support innovation in new technologies[50]. Financial Agreements and Transactions - The company has a non-committed revolving loan facility with a limit of HKD 1 billion, which can be modified or canceled by the bank at any time[195]. - The company has a financing agreement for a non-committed revolving loan of HKD 300 million, with specific conditions regarding the ownership of its major shareholder[194]. - The company has ongoing related party transactions with China Travel Group, including travel group services, with an actual amount of HKD 23.254 million for the year ended December 31, 2019, against a cap of HKD 45 million[160]. Customer Base and Revenue Sources - The top five customers accounted for less than 30% of the group's total revenue, indicating a diversified customer base[126]. Sustainability and Corporate Responsibility - The management team emphasized a commitment to sustainability, with plans to invest $20 million in green technologies[50]. - The group has made charitable donations amounting to HKD 2,508,000 during the year[122].