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 ...

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].

Financial Performance - The company reported a loss per share of HKD -6.43 for the year 2022, compared to a profit of HKD 3.14 in 2021[12]. - The company’s average return on equity was -3.59% in 2022, down from -0.49% in 2021, indicating a decline in profitability[12]. - The net loss attributable to equity holders for 2022 was HKD 355,792, compared to a profit of HKD 174,016 in 2021[15]. - The revenue from continuing operations for 2022 was HKD 3,031,936, a decrease of 17% compared to HKD 3,647,829 in 2021[15]. - Gross profit for 2022 was HKD 308,409, down 41% from HKD 524,168 in the previous year[15]. - 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[35]. - The group’s total revenue for 2022 was HKD 3.032 billion, a decrease of 17% compared to the previous year[47]. - Revenue from tourism scenic spots and related businesses was HKD 2.368 billion, a decrease of 21% year-on-year[51]. - The income from natural cultural scenic destinations was HKD 348 million, a decrease of 45% compared to the previous year[51]. - The theme parks generated revenue of HKD 201 million, a decline of 50% year-on-year[51]. Financial Health - The current ratio improved slightly to 1.93 in 2022 from 1.91 in 2021, indicating better short-term financial health[12]. - The debt-to-capital ratio decreased to 27.17% in 2022 from 29.51% in 2021, reflecting a reduction in leverage[12]. - The total liabilities for 2022 were HKD 5,785,714, down from HKD 6,687,158 in 2021[15]. - The company’s financial condition remains healthy with stable cash flow and manageable debt levels[35]. - As of December 31, 2022, the company reported cash and bank balances of HKD 2.798 billion and total borrowings of HKD 990 million, resulting in a debt-to-equity ratio of 27%[73]. Dividend Policy - The company did not declare any dividends for the years 2021 and 2022, maintaining a dividend payout ratio of 0%[7]. - The company’s board does not recommend the distribution of a final dividend for the year ended December 31, 2022[35]. - The company has adopted a dividend policy that generally allows for two dividend payments per year, with the board considering actual and expected financial performance when determining dividends[188]. Strategic Initiatives - The company plans to focus on market expansion and new product development as part of its future strategy[21]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[21]. - The company plans to enhance product innovation and marketing strategies to attract visitors and improve secondary revenue streams[51]. - The company aims to enhance its digital marketing strategies, expecting a 20% increase in customer acquisition rates[25]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share over the next two years[25]. Operational Developments - The management team has undergone changes, with new appointments aimed at enhancing strategic development and operational efficiency[22][23]. - The company has invested $50 million in research and development for new technologies aimed at improving operational efficiency[28]. - The group achieved a stable occupancy rate of 95% at the Star Hotel in the Shapotou Scenic Area during the summer season, recognized as "Asia's Best Resort Hotel" in 2022[38]. - The group has integrated data from multiple scenic spots and hotels, achieving business visualization management through smart transformation initiatives[39]. Market Conditions - The domestic tourism market in China saw a year-on-year decline of 22.1% in visitor numbers and a 30.0% drop in tourism revenue in 2022[34]. - The fifth wave of COVID-19 severely impacted Hong Kong's economic activities, leading to a GDP contraction of 3.5% for the year[35]. - The group is optimistic about the overall business fundamentals and aims to reduce losses and increase profits while maintaining stable growth[45]. Governance and Compliance - The company has established a framework for effective internal controls and risk management to protect shareholder interests and enhance corporate value[129]. - The board consists of 11 directors, with 5 being independent non-executive directors, complying with the listing rules requiring at least three independent non-executive directors[137]. - The company has mechanisms in place to ensure independent opinions and viewpoints are provided to the board, enhancing corporate governance[137]. - The company has a policy that prohibits performance-related equity-based remuneration for independent non-executive directors, maintaining their independence[137]. Shareholder Engagement - The company emphasizes the importance of effective communication with shareholders and has implemented various channels for information dissemination, including mid-year and annual performance reports, investor briefings, and one-on-one meetings[194]. - The company has mechanisms in place for shareholders to request special general meetings if they hold at least 5% of the voting rights[191]. Future Outlook - The company has set a future outlook with a revenue guidance of $1.5 billion for the next fiscal year, indicating a growth target of 25%[28]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[29]. - The group plans to deepen cooperation with leading leisure vacation brands and aims to launch boutique projects with industry leaders in 2023[38].

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 - The company reported earnings per share of HKD 3.14 for the year 2021, a significant recovery from a loss of HKD 7.06 in 2020[34]. - Revenue for the year 2021 was HKD 3,647,829,000, a significant increase from HKD 1,966,709,000 in 2019, representing a growth of approximately 85.5%[36]. - Gross profit for 2021 was HKD 524,168,000, compared to HKD 75,703,000 in 2019, indicating a substantial increase of around 592.5%[36]. - The net loss from continuing operations for 2021 was HKD 91,587,000, a significant improvement compared to a loss of HKD 612,084,000 in 2020[36]. - The company reported a pre-tax profit for 2021 of HKD 15,431,000, a recovery from a loss of HKD 741,819,000 in 2020[36]. - The company reported a pre-tax profit of HKD 15 million, recovering from a pre-tax loss of HKD 742 million in the previous year[50]. - Shareholders' profit amounted to HKD 174 million, a turnaround from a loss of HKD 391 million in the previous year[50]. Liquidity and Capital Structure - The current ratio decreased to 1.91 in 2021 from 2.08 in 2020, indicating a slight decline in short-term liquidity[34]. - The debt-to-equity ratio increased to 29.51% in 2021 from 26.04% in 2020, reflecting a rise in leverage[34]. - The total liabilities for 2021 were HKD 6,687,158,000, a slight decrease from HKD 6,747,931,000 in 2020, showing a reduction of about 0.9%[36]. - As of December 31, 2021, the company had cash and bank balances of HKD 3.074 billion and total assets of HKD 25.808 billion, with a debt-to-capital ratio of 30%[50]. Market and Business Strategy - The company is involved in various tourism-related businesses, including theme parks and travel agencies, with significant ownership stakes in several subsidiaries[32]. - The company plans to expand its market presence and explore new strategic initiatives in the tourism sector[32]. - The company aims to become a leading provider of investment and operational services in tourism destinations, optimizing its strategic layout around tourism resources[51]. - The company plans to leverage its strengths in cultural tourism and real estate to create synergies with Kaiyuan Tourism Group for better economic and social benefits[53]. - The company is planning to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[45]. Operational Highlights - The company has invested $50 million in research and development for new technologies aimed at improving user experience[47]. - The company completed the sale of a 51% stake in the Songshan Scenic Area for RMB 255 million, generating a profit of approximately RMB 10.93 million[61]. - The company sold its travel agency business in May 2021, recording a one-time gain from the sale, allowing it to focus on core businesses with better profit potential[51]. - The company is actively pursuing the development of a one-stop "Smart Passenger Transport Platform" and plans to acquire cross-border passenger transport companies to enhance the Greater Bay Area's tourism transport system[54]. Corporate Governance and Compliance - The company emphasizes corporate governance and risk management, aiming to maintain a high level of corporate governance to ensure sustainable development[54]. - The board does not recommend the distribution of a final dividend for the year ending December 31, 2021[85]. - The company has received confirmations of independence from all independent non-executive directors[91]. - The company has adopted and complied with the corporate governance code as per the listing rules, with some deviations noted[126]. - The company has established formal procedures for handling significant transactions involving potential conflicts of interest[139]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development as a core principle, aiming to create long-term value for shareholders through effective management policies[187]. - The company has implemented energy-saving measures, such as replacing traditional lighting with LED systems across various business sectors[198]. - The company has established internal policies to ensure compliance with environmental laws and regulations, with no reported non-compliance cases during the reporting period[197]. - The company has a commitment to community contributions and ecological protection as part of its corporate social responsibility initiatives[195]. - The company aims to enhance environmental performance indicators and set specific targets for sustainable development in the future[197].

Financial Performance - The company reported revenue of HKD 1,031,622,000 for the six months ended June 30, 2021, representing a significant increase from HKD 571,299,000 in the same period of 2020, marking an increase of 80.4%[13] - Gross profit for the same period was HKD 57,030,000, compared to a gross loss of HKD 23,708,000 in the previous year, indicating a turnaround in profitability[13] - The company recorded a net loss of HKD 111,523,000 for the six months ended June 30, 2021, an improvement from a net loss of HKD 526,268,000 in the same period of 2020, reflecting a reduction in losses by 78.8%[13] - The total comprehensive income for the period was HKD 774,976,000, compared to a total comprehensive loss of HKD 741,428,000 in the previous year, indicating a significant recovery[15] - The company achieved a basic earnings per share of HKD 0.09, a notable improvement from a loss per share of HKD 8.01 in the same period last year[13] - Other income and net gains increased to HKD 326,367,000 from HKD 67,139,000, showing a growth of 385.5%[13] - The company reported a fair value change of investment properties amounting to HKD 30,378,000, compared to a loss of HKD 89,947,000 in the previous year, indicating a positive shift in asset valuation[13] - The company reported a total comprehensive income of HKD 878,098 thousand for the six months ended June 30, 2021, compared to a loss of HKD 111,523 thousand in the previous period[19] - The company reported a total comprehensive loss of HKD 636,841,000 for the six months ended June 30, 2021, compared to a total comprehensive income of HKD 15,449,434,000 as of June 30, 2020[20] Assets and Liabilities - Total assets increased to HKD 25,884,264 thousand as of June 30, 2021, compared to HKD 25,184,194 thousand as of December 31, 2020, representing a growth of 2.77%[16] - Non-current assets totaled HKD 16,222,237 thousand, up from HKD 14,836,508 thousand, reflecting an increase of 9.35% year-over-year[16] - Current assets decreased to HKD 9,662,027 thousand from HKD 10,347,686 thousand, a decline of 6.61%[16] - Total liabilities rose to HKD 6,937,617 thousand, compared to HKD 6,747,931 thousand, indicating an increase of 2.81%[18] - Non-controlling interests decreased to HKD 1,861,090 thousand from HKD 2,228,804 thousand, a reduction of 16.49%[19] - Cash and bank balances increased to HKD 3,172,929 thousand from HKD 2,947,404 thousand, marking an increase of 7.63%[16] - The company's equity attributable to owners rose to HKD 17,085,557 thousand from HKD 16,207,459 thousand, an increase of 5.39%[19] - Deferred income increased to HKD 783,185 thousand from HKD 772,363 thousand, reflecting a growth of 1.06%[18] - Trade payables decreased to HKD 301,884 thousand from HKD 439,284 thousand, a decline of 31.30%[18] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2021, was HKD 764,010,000, a significant improvement from a cash outflow of HKD 535,138,000 in the same period of 2020[21] - The company experienced a net decrease in cash and cash equivalents of HKD 38,132,000, compared to a decrease of HKD 268,287,000 in the previous year[22] - As of June 30, 2021, cash and cash equivalents stood at HKD 3,040,053,000, up from HKD 2,156,391,000 at the end of June 2020[22] - The company reported a net cash outflow from investing activities of HKD 755,635,000, compared to an outflow of HKD 24,163,000 in the previous year[21] - The company’s financial performance reflects ongoing challenges, with significant losses impacting overall equity and cash flow positions[20] - The report indicates that the company is actively managing its cash flow and investments to navigate the current financial landscape[21] Revenue Segments - Revenue from the theme parks and related businesses segment reached HKD 714,750,000, compared to HKD 230,481,000 in the prior year, marking an increase of about 210.5%[42] - The travel agency and related services segment generated revenue of HKD 61,285,000, a decrease from HKD 159,659,000 in the previous year, reflecting a decline of approximately 61.7%[42] - The hotel business segment reported revenue of HKD 204,540,000, up from HKD 135,565,000, indicating an increase of around 50.9%[42] - The passenger transport segment's revenue was HKD 41,115,000, down from HKD 45,501,000, showing a decrease of about 9.4%[42] - The group reported a total segment loss of HKD 250,777,000 for the six months ended June 30, 2021, compared to a loss of HKD 355,390,000 in the same period of 2020, representing an improvement of approximately 29.4%[42] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[15] - The company is focusing on strategic initiatives to enhance operational efficiency and explore potential mergers and acquisitions to strengthen its market position[15] - The group plans to enhance product development and project promotion in the tourism sector, focusing on creating industry benchmarks in scenes, content, and experiences[90] - The group will continue to promote the integration of scenic area and real estate business development strategies[90] - The company aims to enhance the "Haequn Bay" brand through existing property upgrades and new real estate developments, focusing on enriching product offerings and leveraging the synergy between tourism and real estate[92] Corporate Governance - The company has complied with the corporate governance code as per the listing rules, with some deviations noted regarding the appointment of non-executive directors and the attendance of the chairman at the annual general meeting[117] - The company’s board of directors confirmed compliance with the standard code of conduct for securities trading for the six months ending June 30, 2021[118] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance shareholder value[117] Related Party Transactions - The company reported related party transactions with significant interest expenses amounting to HKD 4,492,000 for other related parties, a decrease of 4% from HKD 4,681,000 in the previous year[71] - Monthly rental payments to other related parties were HKD 1,586,000, down 15% from HKD 1,872,000 year-on-year[71] - The company received other operating expenses from a related party totaling HKD 11,046,000, an increase of 134% compared to HKD 4,727,000 in the previous year[71] Employee and Operational Costs - Total employee costs rose to HKD 716,335,000, up from HKD 529,868,000 in the previous year, reflecting a significant increase in operational expenses[48] - The group has 7,367 employees as of June 30, 2021, with compensation determined based on performance and industry standards[96]