Core Viewpoint - The article highlights significant fluctuations in the stock market, particularly focusing on the performance of stocks included in the Hong Kong Stock Connect, with some experiencing dramatic increases of over 70% [1][2][13]. Market Performance - The A-share market showed weakness, with major indices declining: the Shanghai Composite Index fell by 0.59%, the Shenzhen Component Index by 0.62%, and the ChiNext Index by 0.81% [3][4]. - Conversely, the Northbound 50 Index demonstrated strength, with an intraday increase exceeding 2% [3][4]. - The Hong Kong market also faced adjustments, with the Hang Seng Index dropping over 2% and the Hang Seng Tech Index falling more than 3% [2][14]. Stock Highlights - Several stocks included in the Hong Kong Stock Connect saw substantial gains, such as Ark Health, which surged over 70% within 10 minutes of trading, and others like Wei Long Delicious and Mao Ge Ping, which rose by over 25% and 15% respectively [15][16]. - The article notes that the inclusion of these stocks in the Hong Kong Stock Connect is a significant factor contributing to their price surges [16]. Sector Performance - In terms of sector performance, engineering machinery, shipbuilding, daily chemical products, and coal sectors showed positive movement during the morning session [5]. - Conversely, sectors such as software services, telecommunications, and insurance experienced notable declines [5]. Individual Stock Movements - The article mentions specific stocks that experienced significant price changes, including Inno Laser, which rose by 20.01%, and Huifeng Diamond, which increased by 10.19% [7]. - Additionally, the article discusses the performance of Dongfang Group, which faced a continuous decline, hitting its sixth consecutive trading day of losses due to ongoing financial difficulties [11]. Clinical Trial Announcements - The article also covers the announcement from Tongyuan Kang Pharmaceutical regarding its drug TY-9591, which showed significant clinical benefits in treating EGFR mutation lung cancer, further boosting investor interest [18][19][20].

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 ...

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].