5月28日，截至港股收盘，恒生指数下跌0.53%，报23258.31点。世纪城市国际（00355.HK）收报0.044 港元/股，上涨15.79%，成交量3499.8万股，成交额148.28万港元，振幅18.42%。 行业估值方面，旅游及消闲设施行业市盈率（TTM）平均值为38.95倍，行业中值-0.66倍。世纪城市国 际市盈率-0.11倍，行业排名第132位；其他易站绿色科技（08475.HK）为0.4倍、LET GROUP （01383.HK）为0.7倍、嘀嗒出行（02559.HK）为1倍、OKURA HOLDINGS（01655.HK）为1.11倍、陆 庆娱乐（08052.HK）为1.34倍。 资料显示，世纪城市国际控股有限公司于香港上市,其核心业务多元化,包括地产投资、酒店管理与拥 有、金融资产投资及飞机业务等。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 来源：金融界 最近一个月来，世纪城市国际累计涨幅2.7%，今年来累计跌幅72.46%，跑输恒生指数16.56%的涨幅。 财务数据显示，截至2024年12月31日，世纪城市国际实现营业总收入25.41亿元，同比 ...

行业估值方面，旅游及消闲设施行业市盈率（TTM）平均值为36.2倍，行业中值-0.55倍。世纪城市国际 市盈率-0.11倍，行业排名第132位；其他易站绿色科技（08475.HK）为0.3倍、LET GROUP （01383.HK）为0.7倍、嘀嗒出行（02559.HK）为0.99倍、OKURA HOLDINGS（01655.HK）为1.04 倍、陆庆娱乐（08052.HK）为1.34倍。 资料显示，世纪城市国际控股有限公司于香港上市,其核心业务多元化,包括地产投资、酒店管理与拥 有、金融资产投资及飞机业务等。 4月30日，截至港股收盘，恒生指数上涨0.51%，报22119.41点。世纪城市国际（00355.HK）收报0.046 港元/股，上涨24.32%，成交量4895.97万股，成交额210.01万港元，振幅43.24%。 最近一个月来，世纪城市国际累计跌幅58.89%，今年来累计跌幅73.19%，跑输恒生指数9.71%的涨幅。 财务数据显示，截至2024年12月31日，世纪城市国际实现营业总收入25.41亿元，同比减少2.35%；归母 净利润-9.5亿元，同比减少52.98%；毛利率34.87%，资产负 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[8]. - The group recorded a consolidated loss attributable to shareholders of HKD 1,025,600,000 for the fiscal year ending December 31, 2024, compared to a loss of HKD 670,400,000 in the previous fiscal year[21]. - The gross profit from operations was HKD 956,900,000, down from HKD 1,128,500,000 in 2023, leading to an operating loss before depreciation, financing costs, and taxes of HKD 357,200,000[22]. - For the fiscal year ending December 31, 2024, the company recorded a consolidated loss attributable to shareholders of HKD 2,597,800,000, compared to a loss of HKD 1,791,900,000 in the previous fiscal year[33]. - The company reported a fair value loss of HKD 946,100,000 on investments held in a joint venture, which negatively impacted the financial performance for the year[33]. - The group recorded a net cash flow from operating activities of HKD 431,300,000 in the review year, down from HKD 623,900,000 in the previous year[135]. Business Outlook and Strategy - The company provided an optimistic outlook for the next quarter, projecting a revenue increase of 10% to $1.32 billion[8]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[8]. - Market expansion plans include entering three new international markets by the end of the fiscal year, targeting a potential revenue increase of 25%[8]. - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[8]. - A new marketing strategy has been implemented, focusing on digital channels, which is anticipated to increase customer engagement by 30%[8]. Property and Hotel Operations - The group's core business includes property development and investment, as well as hotel ownership and operation, with hotel revenue net increasing despite intense market competition[21]. - The hotel business in Hong Kong showed stable operational performance, with net hotel revenue increasing by approximately 10.1% compared to 2023, resulting in a total gross profit of HKD 687,800,000, up about 5.4% from HKD 652,300,000 in 2023[33]. - The average hotel occupancy rate in Hong Kong for 2024 was 85.0%, an increase of 3.0 percentage points from 2023, while the average room rate decreased by 4.3%, leading to a 0.8% decline in average revenue per available room (RevPAR)[36]. - The newly developed hotel, Regal Airport Hotel, achieved a satisfactory operational performance with an average occupancy rate of 59.1%, up 17.0 percentage points from 42.1% in 2023, despite a 6.8% drop in average room rates[37]. - The group continues to engage in securities brokerage and lending through its wholly-owned subsidiaries, enhancing its financial service offerings[26]. Market Conditions and Economic Environment - The total transaction volume of residential properties in Hong Kong increased by over 20% compared to 2023, driven by a low comparison base, although property prices continued to stabilize[29]. - The luxury residential market remains relatively stable due to limited supply, with the Hong Kong government optimizing the "New Capital Investor Entry Scheme" to stimulate high-end market transactions[29]. - The overall sales progress of office and commercial units has been relatively slow due to decreased demand, but the market in Chengdu is gradually recovering following government stimulus policies[128]. - The Hong Kong economy is gradually recovering, with expectations of further support measures from the central government, which may benefit the real estate sector[53]. Shareholder and Corporate Governance - The board of directors has approved a dividend payout of $0.50 per share, reflecting a commitment to returning value to shareholders[8]. - The company has invested in directors' liability insurance to provide adequate protection for its directors[161]. - The board of directors has disclosed their shareholdings in compliance with the Securities and Futures Ordinance and the Listing Rules[162]. - The company continues to maintain transparency regarding the shareholdings of its directors and senior management[162]. Asset Management and Investments - The adjusted net asset value per share is estimated at HKD 3.03 based on the market valuation of hotel properties as of December 31, 2024[23]. - The group holds approximately 62.3% equity in Paliburg Holdings Limited, which operates the core property and hotel businesses[24]. - The group is actively selling non-core assets to strengthen liquidity in response to the challenging economic environment and high interest rates[54]. - The company has multiple subsidiaries where Mr. Luo Xurui holds 100% of the shares, including 8D International (BVI) Limited and Century Digital Communications (BVI) Limited[167]. Development Projects - The company plans to sell unsold residential units from the Queens project, which has 130 units, in the second quarter of this year[48]. - The project at 83 Shun Ning Road, Sham Shui Po, has a total floor area of 7,159 square meters and consists of 157 residential units, with all units sold as of 2018[111]. - The luxury residential project at 23 Li Ping Road, Sha Tin, has a total floor area of approximately 32,474 square meters and has won eight international awards, including the Best Luxury Residential Project in Hong Kong in 2021[112]. - The hotel project at 2 Yau Ma Tei Street, Mong Kok, has a total floor area of approximately 6,529 square meters and opened in March 2019, currently operated by P&R[114].

资料显示，世纪城市国际控股有限公司于香港上市,其核心业务多元化,包括地产投资、酒店管理与拥 有、金融资产投资及飞机业务等。 4月2日，截至港股收盘，恒生指数下跌0.02%，报23202.53点。世纪城市国际（00355.HK）收报0.082港 元/股，上涨7.89%，成交量2684.23万股，成交额199.21万港元，振幅18.42%。 最近一个月来，世纪城市国际累计跌幅35.59%，今年来累计跌幅44.93%，跑输恒生指数15.69%的涨 幅。 财务数据显示，截至2024年12月31日，世纪城市国际实现营业总收入25.41亿元，同比减少2.35%；归母 净利润-9.5亿元，同比减少52.98%；毛利率34.87%，资产负债率62.28%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，旅游及消闲设施行业市盈率（TTM）平均值为40.26倍，行业中值-0.64倍。世纪城市国 际市盈率-0.23倍，行业排名第130位；其他易站绿色科技（08475.HK）为0.29倍、LET GROUP （01383.HK）为0.7倍、嘀嗒出行（02559.HK）为1.11倍、OKURA HOLDINGS（0 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a consolidated loss attributable to shareholders of HKD 1,025.6 million, compared to a loss of HKD 670.4 million in the previous fiscal year, representing an increase of 53.0%[3]. - Revenue for the fiscal year was HKD 2,744.2 million, a decrease of 2.3% from HKD 2,810.1 million in the previous year[2]. - Gross profit decreased by 15.2% to HKD 956.9 million, down from HKD 1,128.5 million in the previous year[2]. - The company recorded an operating loss before depreciation, financing costs, and tax of HKD 357.2 million, compared to an operating profit of HKD 280.4 million in the previous year[4]. - Basic loss per share attributable to ordinary shareholders increased by 49.4% to HKD 34.71 cents, compared to HKD 23.23 cents in the previous year[2]. - The net loss attributable to equity holders of the parent company was HKD 1,025.6 million, compared to a loss of HKD 670.4 million in 2023, representing a 52.9% increase in losses[57]. - Total comprehensive loss for the year was HKD 2,523.3 million, compared to HKD 2,103.8 million in 2023, indicating a 19.9% increase in comprehensive losses[58]. - The group reported a loss before tax of HKD 2,370.6 million in 2024, compared to a loss of HKD 1,699.0 million in 2023, indicating a worsening of approximately 39.5%[70]. - The company reported a fair value loss on investment properties of HKD 319.4 million, significantly higher than the loss of HKD 22.6 million in 2023[56]. - The total income tax expense for the year was HKD 72.9 million, compared to a tax credit of HKD 14.4 million in 2023, indicating a significant shift in tax position[77]. Asset and Liability Management - The net asset value per share adjusted for fair value and impairment losses was HKD 3.03, down 10.4% from HKD 3.38 in the previous year[2]. - The group's total liabilities, excluding cash and bank deposits, amounted to HKD 18.13 billion, up from HKD 17.79 billion in the previous year, resulting in a debt-to-asset ratio of 49.7%[47]. - The group's cash and bank deposits, along with time deposits, totaled HKD 1.61 billion, down from HKD 2.33 billion in the previous year[47]. - The adjusted net asset value per share, based on the market value of the hotel properties in Hong Kong as of December 31, 2024, is HKD 3.03[44]. - The group's lease liabilities as of December 31, 2024, were HKD 31.8 million, a decrease from HKD 47.2 million in the previous year[49]. - The total assets, when adjusted for the market value of hotel properties, were HKD 47.43 billion, down from HKD 50.90 billion in the previous year, resulting in a debt-to-asset ratio of 38.2%[48]. - The company's net asset value decreased to HKD 13,744.7 million from HKD 16,396.5 million in 2023, a decline of 16.1%[60]. - The group’s total liabilities increased to HKD 315.7 million in 2024 from HKD 309.9 million in 2023, indicating a rise of approximately 1.3%[70]. Revenue Streams - Hotel operations and management revenue increased to HKD 1,768.0 million in 2024 from HKD 1,736.2 million in 2023, a growth of about 1.8%[70]. - Property development and investment revenue decreased to HKD 798.4 million in 2024 from HKD 945.3 million in 2023, a decline of approximately 15.5%[70]. - Revenue from property sales was HKD 733.9 million, down 16.7% from HKD 881.6 million in 2023[75]. - Total revenue from property sales for the year ended December 31, 2024, was HKD 183.7 million, down from HKD 412.9 million in 2023, representing a decrease of 55.6%[76]. - The asset management segment generated revenue of HKD 93.1 million in 2024, slightly up from HKD 91.1 million in 2023, marking a growth of approximately 2.2%[70]. Investment and Development Projects - The company plans to focus on its existing asset portfolio and operations while cautiously pursuing new investments amid a challenging business environment[7]. - The group holds a 57.0% beneficial interest in Cosmopolitan International Holdings Limited, which is primarily engaged in property development in China[9]. - The group has a 48% interest in Century Creative Technology Group, which produces high-quality multimedia content and related services[9]. - Century Creative Technology plans to develop a series of bilingual educational books focused on environmental, social, and governance themes in collaboration with well-known publishers[19]. - The company plans to actively sell remaining properties in Chengdu, considering the recent market recovery following government stimulus policies[40]. - The company continues to maintain its afforestation project in Xinjiang, which may allow for future real estate development on approximately 1,843 acres of land[42]. Operational Highlights - The hotel business, primarily operated through Regal Hotels International Holdings Limited, maintained stable operations despite intense market competition[3]. - The We Go MALL shopping center, opened in 2018, has a total floor area of 15,270 square meters (164,364 square feet) and maintains stable leasing conditions[22]. - The project at 83 Shun Ning Road, completed in 2018, consists of 157 residential units and has sold all but 2 shops and 5 parking spaces[23]. - The new hotel project at Hong Kong International Airport has a total floor area of 33,700 square meters (362,750 square feet) and officially opened in April 2023, featuring sustainable design elements[30]. - The company is in discussions with a potential buyer regarding the sale of a property located at 41 Kingsway, London, which has a total floor area of approximately 2,150 square meters (23,140 square feet)[35]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming fiscal year[75]. - The group continues to focus on its existing asset portfolio and business operations while cautiously pursuing new investments amid a volatile business environment[15]. - The company has no immediate plans for significant acquisitions of investments or capital assets beyond what has been disclosed[17].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the first half of the year, representing a 20% growth compared to the previous year[1]. - For the six months ending June 30, 2024, the group recorded a consolidated loss attributable to shareholders of HKD 422.6 million, compared to a loss of HKD 243.7 million in the same period of 2023[8]. - Revenue for the six months ended June 30, 2024, was HKD 1,390.1 million, a decrease of 13.2% compared to HKD 1,602.7 million for the same period in 2023[63]. - Gross profit for the same period was HKD 412.3 million, down 35.7% from HKD 642.5 million year-on-year[63]. - The company reported a loss attributable to equity holders of HKD 1,022.7 million, compared to a loss of HKD 651.7 million in the previous year, representing a 56.8% increase in losses[64]. - Basic and diluted loss per share was HKD 14.44 cents, compared to HKD 8.66 cents in the prior period[63]. Operational Highlights - User data showed a 15% increase in active users, reaching 1.2 million by the end of the reporting period[1]. - The hotel business in Hong Kong showed stable operational performance, with a profit contribution from hotel operations increasing by over 60% compared to the same period last year[14]. - The average hotel occupancy rate increased from 80.0% in 2023 to 83.0% in 2024, with average room rates rising by 5.3%, resulting in a 9.2% year-on-year increase in RevPAR[15]. - The hotel project at Hong Kong International Airport has a site area of approximately 6,650 square meters (71,580 square feet) and a total gross floor area of 33,700 square meters (362,750 square feet), featuring 1,208 rooms and suites, officially opened in April 2023[40]. Strategic Initiatives - The company provided a positive outlook for the next quarter, projecting a revenue growth of 25% driven by new product launches and market expansion initiatives[1]. - Investment in new technology development increased by 30%, with a focus on enhancing operational efficiency and customer experience[1]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[1]. - A strategic acquisition of a local competitor is in progress, expected to enhance the company's service offerings and customer base[1]. Market Conditions - The group's overall business operations maintained positive performance; however, profits from property sales significantly decreased due to a weakening real estate market in Hong Kong and mainland China[8]. - The luxury residential property market remains resilient, benefiting from limited supply and increased demand from the government's relaxed immigration policies[12]. - The total number of visitors to Hong Kong reached 21.2 million in the first half of 2024, a year-on-year increase of 64.2%, with 16.1 million coming from mainland China[15]. - The overall sales of new residential properties in China continued to contract year-on-year, particularly in the commercial and retail sectors[23]. Financial Position - As of June 30, 2024, the group's cash and bank deposits amounted to HKD 1,765,800,000, while total liabilities were HKD 18,144,800,000, resulting in a debt-to-asset ratio of 47.3%[57]. - The net cash flow from operating activities during the review period was HKD 20,800,000, a decrease from HKD 367,200,000 in the previous year[56]. - The group's adjusted net asset value per share, considering the market value of its hotel properties in Hong Kong, is calculated at HKD 3.23[53]. - The company reported a net cash outflow from financing activities of HKD 965.5 million, compared to a net outflow of HKD 678.6 million in the prior year[72]. Sustainability Efforts - The management emphasized the importance of sustainability in their new strategies, aiming for a 50% reduction in carbon footprint by 2025[1]. - The group has completed afforestation on approximately 4,300 mu of land in Xinjiang, with 1,843 mu available for real estate development pending government inspections[50]. Corporate Governance - The company has complied with the corporate governance code during the six months ending June 30, 2024, except for the separation of the roles of Chairman and CEO[142]. - The interim financial data includes a consolidated balance sheet and income statement for the six months ending June 30, 2024[146].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 (股份代號：355) 二零二四年中期業績公佈 | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------|--------------------------------------------------------------------------------|---------| | 財務及業務摘要 | 六月三十日止六個月 ( 未經審核 ) 港幣百萬元 | 截至二零二四年 截至二零二三年 \n ...

Financial Performance - For the year ending December 31, 2023, the net cash flow from investing activities was HKD 85.5 million, an increase from HKD 44.0 million in 2022[13]. - The company reported a total of HKD 4,234.1 million in new bank loans, compared to HKD 5,129.8 million in 2022, while the repayment of bank loans was HKD (4,136.2) million[13]. - The net cash flow from financing activities was HKD (1,328.1) million, slightly improved from HKD (1,342.8) million in 2022[13]. - The company received interest income of HKD 55.4 million, up from HKD 35.2 million in the previous year[13]. - The company reported a decrease in cash and cash equivalents of HKD (3.6) million, compared to an increase of HKD 89.8 million in 2022[13]. Investment Activities - The company acquired a subsidiary for HKD 1.0 million during the year, while the purchase of financial assets at amortized cost was HKD (30.0) million, down from HKD (184.8) million in the previous year[13]. - The issuance of unsecured notes amounted to HKD 312.0 million, an increase from HKD 156.0 million in the previous year[13]. - The company is focused on expanding its investment portfolio and enhancing asset management services[16]. Equity Interests - The company reported a 62.3% equity interest in Shenzhen Chuangxian Intelligent Technology Co., Ltd. and its main business includes security systems and software design, development, and distribution[21]. - The company holds a 52.7% equity interest in Yieldtop Holdings Limited, which focuses on investment holding[21]. - The company has a 54.2% equity interest in Kunming China-US Friendship Park, primarily engaged in project management[21]. - The company has a 43.1% equity interest in R.H.I. Licensing B.V., which is involved in trademark holding[31]. - The company reported a 32.3% equity interest in Regal REIT, which focuses on property investment[32]. - The company has a 43.1% equity interest in Wealthy Path Investments, which is engaged in investment holding[32]. - The company has a 43.1% equity interest in Will Smart Investments Limited, which focuses on property investment[32]. - The company has a 43.1% equity interest in Unicorn Star Limited, which is involved in financial asset investment[32]. - The company reported a registered capital of 140,000 USD for 富豪酒店投資管理（上海）有限公司, which is engaged in hotel management[32]. - The company has issued 3,257,431,189 fund units for Regal REIT, reflecting its significant market presence in property investment[32]. Financial Reporting Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards in the current year's consolidated financial statements[66]. - The amendments to HKAS 8 clarify the distinction between changes in accounting estimates and changes in accounting policies, with no impact on the group's financial statements[39]. - The amendments to HKAS 21 require entities to assess the exchangeability of currencies and disclose the impact of non-exchangeable currencies, but are not expected to have a significant impact on the group's financial statements[43]. - The amendments to HKAS 1 require entities to disclose significant accounting policy information, which the group has done in its financial statement notes[67]. - The group has maintained consistent accounting policies across its subsidiaries, ensuring that their financial statements are prepared using the same reporting period and accounting policies[64]. - The group is currently evaluating the impact of the amendments to the Hong Kong Financial Reporting Standards, particularly regarding the classification of a loan agreement amounting to HKD 851,800,000[72]. - The amendments clarify the classification of liabilities as current or non-current, which will not significantly impact the group's financial statements[72]. Risk Management and Internal Control - The board has conducted an annual review of the effectiveness of the group's risk management and internal control systems[130]. - The management has implemented a comprehensive risk management and internal control system to identify and monitor significant operational risks[171]. - The board of directors is responsible for the company's risk management and internal control systems, with regular reviews conducted to assess their effectiveness[190]. Governance and Compliance - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with the standards set forth in the Listing Rules[170]. - The company has established policies to ensure insider information is disclosed fairly and timely according to applicable laws and regulations[190]. - The company emphasizes the importance of confidentiality regarding insider information until it is publicly disclosed[190]. - The company has a structured approach to compliance, with the company secretary providing updates on legal and regulatory responsibilities to new directors[191]. - The company has implemented a training program for directors to enhance their knowledge and skills, ensuring they contribute effectively to the board[191]. - The company has a comprehensive governance report included in its annual report, detailing its corporate governance practices[194]. Board Committees - The group has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee to fulfill different functions authorized by the board[48]. - The audit committee reviewed the accounting standards and internal controls, holding two meetings in 2023 with full attendance from its members[183]. - The remuneration committee held one meeting in 2023 to review the remuneration policies for directors and senior management, with full attendance from its members[186]. - The board has established a nomination committee to ensure fair and transparent nomination and selection processes for directors[165]. - The company emphasizes the importance of a diverse board to achieve strategic and business objectives, adopting a board diversity policy[166]. Financial Statements - The financial statements include a consolidated income statement, comprehensive income statement, and cash flow statement, providing a clear view of the company's financial performance[194]. - The company confirmed its responsibility for preparing financial statements that accurately reflect its financial position and comply with applicable accounting standards[168]. - The external auditor, Ernst & Young, has provided a statement regarding its reporting responsibilities, included in the independent auditor's report of the annual report[169]. - The company reported a financial statement review for the six months ending June 30, 2023, with a total of HKD 1.8 million[189]. Asset Management - The group conducts annual impairment tests for goodwill, with the most recent test performed on December 31[75]. - Any impairment loss is recognized when the carrying amount of an asset exceeds its recoverable amount, which is determined based on the higher of its fair value less costs to sell and its value in use[86]. - The group recognizes gains or losses from changes in the fair value of investment properties in the income statement for the year they occur[87]. - The group assesses whether a contract contains a lease at the inception of the contract, classifying it accordingly[88]. - The group recognizes expected credit losses based on the difference between contractual cash flows and expected cash flows[133]. - The group has established a provision matrix based on historical credit loss experience and adjusts for specific forward-looking factors[136]. - The group’s intangible assets are tested for impairment at the cash-generating unit level annually[120]. - The group adopts a single method for recognizing and measuring all leases, excluding short-term leases and low-value asset leases[139]. - Lease liabilities are recognized at the present value of lease payments made during the lease term, including fixed payments and variable lease payments based on an index or rate[141].

二零二三年度集團全年業績公佈 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------|---------------------------|--------------------------------------------|------------------| | 財務及業務摘要 | 二零二三年度 港幣百萬元 | 二零二二年度 港幣百萬元 | % 轉變 | | 收入 | 2,810.1 | 4,005.2 | -29.8% | | 毛利 | 1,128.5 | 1,726.4 | -34.6% | | 減除折舊、融資成本及 稅項前之經營業務盈利 | 280.4 | 1,089.6 | -74.3% | | 核心業務 ...

Financial Performance - For the six months ended June 30, 2023, the group recorded a loss attributable to shareholders of HKD 243.7 million, compared to a profit of HKD 137.3 million in the same period of 2022[9]. - For the six months ended June 30, 2023, the company recorded a consolidated loss attributable to shareholders of HKD 762.6 million, compared to a profit of HKD 138.3 million in the same period of 2022[47]. - The group recorded a net loss attributable to shareholders of HKD 651.7 million for the six months ended June 30, 2023, compared to a profit of HKD 298.9 million in the same period last year[93]. - The group’s net loss attributable to shareholders, excluding fair value changes and depreciation, was HKD 234.4 million during the review period[20]. - The core business of the company recorded a loss of HKD 14.8 million during the period, primarily due to a significant increase in financing costs from bank loans linked to the Hong Kong Interbank Offered Rate (HIBOR) which surged since the second quarter of this year[51]. - The company reported a significant increase in dividends received from non-listed investments to HKD 4.7 million from HKD 0.8 million, a rise of 487.5%[126]. - The total revenue for the six months ended June 30, 2023, was HKD 1,602.7 million, a decrease of 45.0% compared to HKD 2,915.0 million for the same period in 2022[184]. Hotel Operations - The average hotel occupancy rate in Hong Kong increased from 63.0% in 2022 to 80.0% in 2023, with average room rates rising by 25.3%, leading to a 59.1% increase in RevPAR year-on-year[22]. - The hotel business underperformed expectations due to the slow recovery of flight numbers and overall commercial activity around the airport, impacting the performance of the hotel operated by the company[50]. - The hotel property in Mong Kok has officially opened in April 2023, featuring 1,208 rooms and sustainable design certifications[102]. - Rental income from hotel properties was HKD 23.6 million, slightly up from HKD 22.2 million year-on-year[184]. Property Development and Sales - The company sold or contracted to sell a total of 20 garden houses and 53 apartment units, with total sales amounting to HKD 4,299.3 million, including 17 garden houses and 47 apartment units sold during the review period[42]. - The company plans to continue gradually launching the sale of remaining properties, including 3 garden houses and 83 apartment units, which hold significant sales value[42]. - The group has sold nearly all residential units in the Chengdu project, but the sales progress for the commercial complex is relatively slow[109]. - Revenue from property development and investment reached HKD 764.7 million, while hotel operations generated HKD 708.1 million, contributing to a total customer contract revenue of HKD 1,514.3 million[162]. Financial Position - The total asset value adjusted for the hotel property portfolio in Hong Kong was HKD 51.15 billion, with a debt-to-asset ratio of 34.0%[88]. - The group’s total liabilities as of June 30, 2023, amounted to HKD 17,391.6 million, compared to HKD 17,132.5 million at the end of 2022[115]. - The total equity attributable to shareholders was HKD 18,681.6 million, down from HKD 17,783.0 million, reflecting a decrease of approximately 4.8%[122]. - The retained earnings as of June 30, 2023, were HKD 4,333.3 million, down from HKD 4,065.5 million, indicating a decrease of about 6.2%[122]. - The company’s bank borrowings decreased from HKD 7,929.2 million to HKD 5,906.4 million, a reduction of approximately 25.6%[144]. Cash Flow and Financing - The group reported a net cash flow of HKD 367.2 million for the period, compared to HKD 360.8 million in the previous year[87]. - The net cash flow from operating activities for the six months ended June 30, 2023, was HKD 367.2 million, compared to HKD 360.8 million for the same period in 2022, reflecting a slight increase of 1.1%[126]. - The net cash flow used in investing activities was HKD (32.2) million for the six months ended June 30, 2023, compared to HKD 5.8 million for the same period in 2022, indicating a significant decrease in cash flow from investments[126]. - The net cash flow used in financing activities was HKD (678.6) million for the six months ended June 30, 2023, compared to HKD (1,226.2) million for the same period in 2022, showing an improvement in cash flow management[126]. Market Conditions - The economic activity in China rebounded in early 2023, with GDP growth estimated at 5.5% year-on-year for the first half of the year[21]. - The property market in China showed a moderate rebound in the first quarter of 2023, benefiting from the government's supportive policies, but the momentum did not sustain into the second quarter due to weak export trade and domestic consumption[57]. - The company remains optimistic about the future outlook, supported by a solid business foundation established over the years[35]. - The company is optimistic about the recovery of the Hong Kong tourism and hotel market, expecting its hotel operations to continue contributing stable income[60]. Other Developments - The group is currently undertaking a commercial/residential redevelopment project in Hong Kong, indicating ongoing market expansion efforts[55]. - The group is exploring alternative business and redevelopment plans for a historical heritage property due to recent market changes[105]. - The group is in discussions with government departments regarding a proposal that combines development and conservation of historical heritage[73]. - The group has initiated the pre-sale of residential units, with some units being converted for rental purposes due to changing market conditions[75]. - The group employs approximately 1,810 staff, with overall compensation levels in line with market standards[119].