作为可持续发展领域的先行者，香港兴业国际始终坚持ESG发展，积极开展环境、社会及管治工 作。近日，旗舰项目香港愉景湾首次荣获香港环保卓越大奖（HKAEE）的最高荣誉——物业管理（住 宅）组别金奖。该奖项由香港环境运动委员会、环境及生态局联同其他九个机构合办，为香港最具指标 性的ESG奖项之一。此次愉景湾获得殊荣，足见社会及行业对其绿色经营成效之认可。 与此同时，集团旗下商业综合项目上海兴业太古汇首次参与全球房地产可持续发展标准(Global Real Estate Sustainability Benchmark, GRESB)评核，获四星评级，反映出集团对可持续发展的坚定信 念，亦证明兴业太古汇在国际资本市场的地位。兴业太古汇更于今年三月获颁核心体WELL铂金级认 证，展示集团在建筑环境中兑现健康及福祉方面的承诺。 自创立之初，香港兴业国际便坚定践行可持续发展理念，实现"创造品味生活"的长久价值。未来， 香港兴业国际将继续携手旗下项目以及更多合作伙伴、业界同仁，探索并实施更多可持续发展的解决方 案，共同构建绿色环保的美好未来。 （文章来源：智通财经） 多措并举践行可持续承诺，香港兴业国际 (00480.HK ...

Financial Performance - For the six months ended September 30, 2024, the company's revenue was HKD 852.5 million, a decrease of 73.0% compared to HKD 3,157.1 million in the same period last year[10]. - The company recorded a loss attributable to shareholders of HKD 474.3 million, a decline of HKD 592.0 million from a profit of HKD 117.7 million in the previous year[10]. - Gross profit for the same period was HKD 299.4 million, down 73.1% from HKD 1,110.7 million year-on-year[113]. - The group reported a loss before tax of HKD 490.3 million, compared to a profit of HKD 461.5 million in the previous year[113]. - The net loss for the period was HKD 540.0 million, a significant decline from a profit of HKD 115.6 million in the prior year[113]. - Basic and diluted loss per share was HKD 31.9 cents, compared to earnings of HKD 7.9 cents per share in the same period last year[113]. - The group experienced a significant increase in financial expenses, totaling HKD 210.4 million, compared to HKD 189.9 million in the previous year[113]. - The group reported a net loss of HKD 152.7 million after excluding unrealized gains or losses from investment properties, compared to a profit of HKD 192.2 million in the same period last year[160]. - The group's attributable profit for the period was HKD (474.3) million, a significant decrease from HKD 117.7 million in the previous year, indicating a decline of 503%[160]. Revenue Breakdown - The revenue from property development was HKD 187.1 million, while property investment generated HKD 269.7 million, and hotel operations contributed HKD 99.3 million[141]. - The revenue from customer contracts totaled HKD 628.7 million, with HKD 187.1 million from property development and HKD 269.7 million from property investment[141]. - The group's performance in the Hong Kong market accounted for HKD 705.2 million of the total revenue, while the mainland China market contributed HKD 106.9 million[141]. - The total segment revenue from property development, property investment, transportation services, hotel operations, and leisure activities was HKD 2,077.1 million[147]. - The total rental income reported was HKD 223.8 million, with HKD 220.6 million coming from property investment[141]. Asset and Liability Management - Total assets increased to HKD 43,029.2 million from HKD 42,126.8 million year-on-year, while total liabilities rose to HKD 17,097.1 million from HKD 15,508.0 million[7]. - As of September 30, 2024, the group held total bank balances and cash of HKD 2,228.2 million, up from HKD 1,605.8 million as of March 31, 2024, while net debt stood at HKD 9,343.8 million, compared to HKD 9,021.4 million previously[55]. - The capital debt ratio as of September 30, 2024, was 40.3%, an increase from 38.6% on March 31, 2024, indicating a rise in leverage[59]. - The average financing cost for the period was 5.7%, compared to 5.5% in the same period last year, reflecting a slight increase in borrowing costs[60]. - The group’s shareholder equity decreased by HKD 149.1 million to HKD 23,209.2 million as of September 30, 2024, from HKD 23,358.3 million as of March 31, 2024[58]. - The total amount of standby loans as of September 30, 2024, was HKD 16,611.0 million, down from HKD 17,611.0 million as of March 31, 2024, with 81.9% being committed credit[59]. Property Development and Investment - The property development and investment business generated revenue of HKD 1,030 million, including HKD 573 million from joint ventures and associates[12]. - The property development segment recorded a loss of HKD 240.3 million, a significant decline from a profit of HKD 214.5 million in the same period last year, attributed to a lack of new development projects and a cautious market sentiment[50]. - The property investment segment's performance decreased by 5.7% to HKD 285.1 million, down from HKD 302.2 million, due to a decline in rental income from lower occupancy rates and rental renewals[51]. - The company is advancing the "Discovery Bay 2.0 Blueprint," which will add over 1.3 million square feet of gross floor area and over 1,400 residential units by Q1 2026[13]. - The company plans to develop a new high-end apartment project in Jiaxing, China, with a plot ratio of 2.1, having obtained planning and construction permits in March 2024[18]. Market and Sales Strategies - The company is implementing targeted sales strategies for residential projects in Shanghai and Hangzhou amid a recovering market environment[18]. - 71% of units in Xing Yun Jian, Shanghai, were sold by September 30, 2024, after sales commenced in January 2024[19][23]. - All sold units in Yao Xian Li, Hangzhou, began delivery to buyers in April 2024[19]. - In Tai Po Lin Hai Shan Cheng, 72 out of 262 units were sold, resulting in sales revenue of HKD 402.8 million, with 16 units sold during the period[20]. Occupancy Rates and Property Management - The average occupancy rate for Yujing Plaza and Yujing North Mall was 78.8% during the period, reflecting a slight impact from market conditions[24]. - The average occupancy rate for Tsuen Wan Chung Yip Building was approximately 91.6% during the period, despite challenging market conditions[24]. - The average occupancy rate for Hong Kong Industrial Centre was 81.7% during the period, indicating a competitive leasing environment[29]. - The group is enhancing its property management services, receiving recognition for sustainable development and safety initiatives[32]. Hotel Operations - The hotel business segment reported an overall loss of HKD 30.7 million, compared to a loss of HKD 15.2 million in the same period last year, with occupancy rates affected by changing consumer behavior and increased competition[53]. - The Hong Kong Discovery Bay Hotel actively participated in trade fairs and overseas sales roadshows, expanding its wedding business and enhancing family accommodation experiences[36]. - The Shanghai Sukothai Hotel achieved high occupancy rates and strong price growth by establishing strategic market positioning and offering personalized accommodation experiences[37]. - The Sukhothai Bangkok's occupancy and revenue growth slowed due to oversupply in the Bangkok hotel market, despite significant upgrades to guest rooms and pool facilities[38]. - The new luxury spa facility, The Sukhothai Spa, is set to officially open in August 2024, marking an important milestone for luxury hotels in Bangkok[39]. Corporate Governance and Compliance - The company is committed to good corporate governance, adhering to the principles of the corporate governance code[89]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance by all directors[94]. Future Outlook and Strategic Initiatives - The group plans to focus on sustainable business development and strategic growth initiatives, including future residential projects and enhancing surrounding commercial and leisure facilities[46]. - The group aims to maintain a prudent approach to market monitoring and seek value-added opportunities while adhering to strict risk management strategies[47]. - Future outlook includes potential market expansion and new product development strategies[126].

Financial Performance - The group's revenue for the six months ended September 30, 2024, was HKD 852.5 million, a decrease of 73.0% compared to HKD 3,157.1 million in the same period last year, primarily due to no new development projects completed in Hong Kong and mainland China during this period [4]. - The group recorded a loss attributable to the company's owners of HKD 474.3 million, a decrease of HKD 592.0 million compared to a profit of HKD 117.7 million in the same period last year [4]. - The group's gross profit for the period was HKD 299.4 million, down from HKD 1,110.7 million in the previous year [7]. - The company reported a comprehensive loss of HKD 540.0 million for the period, compared to a profit of HKD 115.6 million in the previous year [10]. - The company's basic loss per share was HKD 31.9, compared to earnings of HKD 7.9 per share in the previous year [7]. - The group incurred a net loss attributable to shareholders of HKD 474.3 million for the six months ending September 30, 2024 [34]. - The group's share of profit from joint ventures and associates was HKD 68.9 million, compared to HKD 504.5 million in the previous year [34]. - The hotel business segment reported an overall loss of HKD 30.7 million, compared to a loss of HKD 15.2 million in the same period last year, impacted by changes in consumer behavior and increased competition in the hotel market [92]. Dividends and Equity - The company has decided not to declare any interim dividend for this period, consistent with the previous year's decision [5]. - The total equity attributable to the company's owners was HKD 23,209.2 million, slightly down from HKD 23,358.3 million, reflecting a decrease of approximately 0.6% [19]. - The company did not declare any interim dividend for the six months ended September 30, 2024, and no final dividend for the fiscal year ending March 31, 2024 [44]. Assets and Liabilities - The group's non-current assets, including investment properties, amounted to HKD 13,919.2 million as of September 30, 2024, compared to HKD 13,843.2 million as of March 31, 2024 [17]. - Current assets totaled HKD 12,103.5 million, an increase from HKD 11,129.4 million as of March 31, 2024 [17]. - The group's total assets less current liabilities stood at HKD 34,843.3 million, down from HKD 36,465.9 million [17]. - As of September 30, 2024, the company's total non-current liabilities decreased to HKD 8,911.2 million from HKD 10,319.0 million as of March 31, 2024, representing a reduction of approximately 13.7% [19]. - The total liabilities as of September 30, 2024, were HKD 25,932.1 million, compared to HKD 26,146.9 million as of March 31, 2024, indicating a slight decrease of about 0.8% [19]. - The net debt as of September 30, 2024, was HKD 9,343.8 million, compared to HKD 9,021.4 million as of March 31, 2024 [95]. - The group's capital debt ratio increased to 40.3% as of September 30, 2024, from 38.6% as of March 31, 2024 [97]. Revenue Streams - Revenue from property development for the six months ended September 30, 2024, was HKD 175.4 million, while hotel revenue was HKD 99.3 million, contributing to a total revenue of HKD 852.5 million [27]. - The company reported rental income of HKD 220.6 million, which is part of the total income from property management [27]. - The total income from customer contracts was HKD 628.7 million, showing a diversified revenue stream across different segments [27]. - The company operates five business segments: property development, property investment, transportation services, hotel operations, and leisure business, each contributing to overall revenue [26]. Market and Development Outlook - The company anticipates continued market expansion and potential new product developments in the upcoming quarters, although specific figures were not disclosed [21]. - The company is advancing the "Discovery Bay 2.0 Blueprint," which includes new residential projects adding over 1,400 units and 1.3 million square feet of total floor area expected to be completed in Q1 2026 [54]. - The company plans to construct a new multi-purpose recreation center, with groundwork completed and major construction expected to commence in Q2 2025 [55]. - The company has received approval for land use changes to provide over 800 residential units, significantly increasing future land reserves [55]. - The group is actively optimizing its property portfolio in Discovery Bay to meet resident needs and enhance the overall experience, including introducing various dining options [66]. Operational Performance - The property development segment recorded a loss of HKD 240.3 million, compared to a profit of HKD 214.5 million in the same period last year, primarily due to no new development projects launched during the period [89]. - The property investment segment's performance declined by 5.7% to HKD 285.1 million, down from HKD 302.2 million, attributed to a decrease in rental income due to lower occupancy rates and rental renewals [90]. - The transportation services and property management segment saw an increase of 10.7% to HKD 16.6 million, up from HKD 15.0 million, driven by a steady rise in average daily passenger volume for bus services [91]. - The leisure business segment recorded a loss of HKD 2.0 million, an improvement from a loss of HKD 12.0 million, mainly due to increased income from bond transfers and enhanced cost control measures across all operational units [94]. Employee and Corporate Governance - The group currently employs 1,450 staff members and is committed to enhancing employee welfare and maintaining a positive work environment [85]. - The board of directors includes Executive Chairman Mr. Cha Mau Cheng and CEO Mr. Tang Man Wah [109]. - The company is committed to compliance with the Hong Kong Companies Ordinance [109].

[Board of Directors](index=40&type=section&id=Board%20of%20Directors) [Executive Directors](index=41&type=section&id=Executive%20Directors) The executive director team, led by Mr. Victor CHA (Executive Chairman) and Mr. TANG Moon Wah (Managing Director), along with three other executives experienced in real estate development, hotel management, and finance, is responsible for the Group's strategic leadership and daily operations - Mr. Victor CHA has served as an Executive Director since 1989 and as Chairman since November 2020, possessing over **40 years of experience** in real estate development and textile manufacturing[8](index=8&type=chunk)[480](index=480&type=chunk) - Mr. TANG Moon Wah was appointed Managing Director in November 2020, having served the Group since 1985 with over **40 years of extensive experience** in property development[483](index=483&type=chunk)[499](index=499&type=chunk) - Ms. YAN Man Ying was appointed Executive Director in February 2021 and currently serves as Chief Financial Officer, overseeing the Group's finance, treasury, and various regulatory functions[12](index=12&type=chunk)[487](index=487&type=chunk) [Non-executive Directors](index=42&type=section&id=Non-executive%20Directors) The non-executive director team, including Ms. Madeline WONG (Non-executive Deputy Chairman) and other CHA family members, brings decades of experience in venture capital, investment management, and real estate, providing independent strategic guidance and oversight to the Board - Ms. Madeline WONG was appointed Non-executive Deputy Chairman in November 2020, joined the Board in 1989, and also serves as a director of several private companies[9](index=9&type=chunk)[482](index=482&type=chunk) - Mr. Johnson CHA joined the Board in 1989, possessing over **40 years of extensive experience** in venture capital and investment management[51](index=51&type=chunk)[488](index=488&type=chunk) - Mr. Benjamin CHA was appointed Non-executive Director in July 2022, with over **20 years of experience** in real estate investment, development, and fund management[14](index=14&type=chunk)[489](index=489&type=chunk) [Independent Non-executive Directors](index=45&type=section&id=Independent%20Non-executive%20Directors) The independent non-executive director team comprises four senior professionals with deep backgrounds in business management, financial services, accounting, and auditing, overseeing key areas such as corporate governance, remuneration, nomination, and audit to ensure the independence and impartiality of Board decisions - Mr. CHEUNG Wing Lam has served on the Board since 2006, acting as Chairman of the Remuneration Committee and a member of the Audit Committee[15](index=15&type=chunk)[490](index=490&type=chunk) - Mr. FAN Hung Ling was appointed in November 2017, serving as Chairman of the Nomination Committee, with over **35 years of experience** in business management[41](index=41&type=chunk)[52](index=52&type=chunk) - Mr. TANG Kwai Chang was appointed in September 2014, serving as Chairman of the Audit Committee, with extensive experience in auditing and risk management[26](index=26&type=chunk) - Ms. SHAO Bei Lan was appointed in April 2021, possessing over **35 years of experience** in financial services, having held senior positions at Bank of China Group[17](index=17&type=chunk)[532](index=532&type=chunk) [Directors' Report](index=47&type=section&id=Directors'%20Report) [Principal Activities and Business Review](index=48&type=section&id=PRINCIPAL%20ACTIVITIES%20AND%20BUSINESS%20REVIEW) The company's principal activity is investment holding, with detailed business activities of its subsidiaries, associates, and joint ventures outlined in the financial statements notes; the Group complied with all relevant laws and regulations during the reporting period - The company's principal business is investment holding, with detailed business activities of its major subsidiaries, associates, and joint ventures provided in Note 42 to the consolidated financial statements[508](index=508&type=chunk) - A detailed review of the Group's business, performance analysis, and future development is presented in the "Chairman's Statement," "Management Discussion and Analysis," and "Financial Review" sections of the annual report[19](index=19&type=chunk)[20](index=20&type=chunk) - During the year under review, the Group complied with all relevant laws and regulations materially affecting its business, with no cases of non-compliance related to environmental, labor, health and safety, anti-corruption, or data privacy regulations[45](index=45&type=chunk)[493](index=493&type=chunk) [Results and Dividend](index=48&type=section&id=RESULTS%20AND%20DIVIDEND) The Board does not recommend a final dividend for the 2024 financial year, and no interim dividend was paid during the current financial year 2024 Financial Year Dividend Information | Dividend Type | FY2024 | FY2023 | | :--- | :--- | :--- | | Interim Dividend | Nil | Nil | | Final Dividend | Not Recommended | **1 HK cent per share** | [Risks and Uncertainties](index=50&type=section&id=RISKS%20AND%20UNCERTAINTIES) The Group faces key risks including slow post-COVID-19 economic recovery, political and economic volatility in core property markets (Hong Kong, Mainland China, Thailand), operational disruptions, financial market risks (currency, interest rates), human resource attrition, cyber-attacks, changing compliance requirements, and extreme weather events due to climate change, with mitigation measures implemented [Post COVID-19 Pandemic Recovery](index=50&type=section&id=A)%20POST%20COVID-19%20PANDEMIC%20RECOVERY) Despite the receding impact of the COVID-19 pandemic, global economic recovery is slower than anticipated, with an unfavorable external environment; the Group actively addresses economic uncertainties and potential pandemic risks through cost control, creative activities, and safeguarding employee health - Economic recovery is slower than expected, with ongoing global economic instability disrupting the Group's business operations[511](index=511&type=chunk) - Response measures include strengthening cost control, organizing creative activities to enhance competitiveness, and continuously ensuring employee health and safety[511](index=511&type=chunk) [Risks Pertaining to Property Development and Investment](index=51&type=section&id=B)%20RISKS%20PERTAINING%20TO%20PROPERTY%20DEVELOPMENT%20AND%20INVESTMENT) The Group's core property development and investment businesses in Hong Kong, Mainland China, and Thailand are susceptible to changes in local economic, political, legal, and social environments; mitigation involves active market assessment, continuous review of investment strategies, detailed feasibility and stress testing of potential projects, and risk sharing with joint venture partners - Core business risks include changes in the economic, political, legal environment, and government policies in Hong Kong, Mainland China, and Thailand[47](index=47&type=chunk)[48](index=48&type=chunk) - Mitigation measures include actively assessing market developments, continuously reviewing investment strategies, maintaining property quality, building a diversified tenant portfolio, and conducting detailed feasibility and stress tests for potential projects[47](index=47&type=chunk)[48](index=48&type=chunk) [Risks Pertaining to Operations of the Group](index=51&type=section&id=C)%20RISKS%20PERTAINING%20TO%20OPERATIONS%20OF%20THE%20GROUP) Group operations face various risks such as contractor defaults, rising construction costs and inflationary pressures, and increased market competition; these risks are managed through regular policy reviews, strict supplier screening, close monitoring of project progress, and adequate insurance coverage to protect profitability - Operational risks include contractor or tenant defaults, rising construction and fuel costs, inflationary pressures, increased competition, and accidents[537](index=537&type=chunk)[541](index=541&type=chunk) - Response strategies include regularly reviewing policies, strictly screening suppliers, monitoring project progress, launching innovative business strategies, and purchasing adequate business interruption insurance[537](index=537&type=chunk)[541](index=541&type=chunk) [Financial Risks](index=52&type=section&id=D)%20FINANCIAL%20RISKS) The Group's primary financial risks include market risk (currency, interest rate, and price risk), credit risk, and liquidity risk, with details of related financial instruments and risk mitigation policies provided in Note 41 to the consolidated financial statements - The Group's main financial instrument-related risks include market risk (currency, interest rate, price), credit risk, and liquidity risk[54](index=54&type=chunk) [Human Resources Risks](index=52&type=section&id=E)%20HUMAN%20RESOURCES%20RISKS) The Group's success depends on attracting, training, and retaining high-skilled talent; to mitigate the risk of key personnel loss, the Group implements succession plans, provides continuous internal and external training, and regularly reviews compensation and benefits to maintain market competitiveness, while enhancing employee belonging through initiatives like establishing an employee recreation club - The Group's success relies on attracting, training, retaining, and motivating excellent employees at all levels; the loss of key personnel could adversely affect business prospects[54](index=54&type=chunk) - Mitigation measures include establishing succession plans, providing internal and external training, regularly reviewing compensation and benefits, and forming an employee recreation club to enhance employee belonging[54](index=54&type=chunk) [Cyber-Attacks Risks](index=52&type=section&id=F)%20CYBER-ATTACKS%20RISKS) The increasing frequency and severity of corporate cyber-attacks may lead to data loss, confidential information leakage, and operational disruptions; the Group has engaged external cybersecurity consultants for regular assessments and penetration tests, implementing measures such as firewalls, antivirus software, disaster recovery drills, and regular employee education to reduce risks - Cyber-attacks may lead to data loss, confidential data leakage, equipment failure, and operational disruptions, resulting in reputational damage and revenue loss[54](index=54&type=chunk) - Mitigation measures include engaging external consultants for cybersecurity assessments, regularly conducting disaster recovery drills, employing firewalls and filtering software, and educating users on cybersecurity risks[24](index=24&type=chunk)[78](index=78&type=chunk) [Compliance Risks](index=53&type=section&id=G)%20COMPLIANCE%20RISKS) The Group's diversified operations across major Asian cities, including Hong Kong and Mainland China, face compliance risks from unpredictable regulatory changes; to mitigate this, the Group continuously monitors local legal and regulatory developments, assesses impacts, and seeks legal advice when necessary to ensure compliance - The Group's diversified operations across major Asian cities pose compliance risks from unpredictable regulatory changes[50](index=50&type=chunk)[79](index=79&type=chunk) - To mitigate risks, the Group continuously monitors local legal and regulatory changes, assesses impacts, and seeks legal advice when necessary[50](index=50&type=chunk)[79](index=79&type=chunk) [Environmental and Climate-Related Risks](index=53&type=section&id=H)%20ENVIRONMENTAL%20AND%20CLIMATE-RELATED%20RISKS) Extreme weather events due to climate change may increase risks of business disruption, physical asset damage, and reduced investment value; the company actively assesses climate risks, integrates them into strategic planning, and implements measures like long-term emission reduction targets, green technologies, improved new project designs, and employee training to mitigate climate impacts and enhance resilience - Extreme weather due to climate change may lead to business disruption, asset damage, increased repair costs, and reduced investment value[77](index=77&type=chunk)[80](index=80&type=chunk) - Response measures include setting long-term emission reduction targets, adopting green building designs, improving new development projects to withstand natural disasters, and providing employees with training on responding to extreme weather[81](index=81&type=chunk)[84](index=84&type=chunk) [Directors' Interests in Shares, Underlying Shares and Debentures](index=56&type=section&id=DIRECTORS'%20INTERESTS%20IN%20SHARES,%20UNDERLYING%20SHARES%20AND%20DEBENTURES) As of March 31, 2024, the company's directors, particularly members of the CHA family, held significant long positions in the company's shares through beneficial ownership and discretionary trusts; additionally, several directors were granted share options under the company's share option scheme Directors' Long Positions in the Company's Shares (as at March 31, 2024) | Director Name | Capacity | Personal Interest | Other Interests | Total | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | :--- | :--- | | Victor CHA | Beneficial Owner and Beneficiary of Discretionary Trust | 1,254,278 | 791,896,895 | **793,151,173** | **53.40%** | | Madeline WONG | Settlor and/or Beneficiary of Discretionary Trust | – | 789,684,882 | **789,684,882** | **53.17%** | | Johnson CHA | Beneficiary of Discretionary Trust | – | 790,469,647 | **790,469,647** | **53.22%** | | Benjamin CHA | Beneficiary of Discretionary Trust | – | 780,233,599 | **780,233,599** | **52.53%** | | TANG Moon Wah | Beneficial Owner | 148,720 | – | **148,720** | **0.01%** | - Several directors were granted company share options, with details disclosed in the "Details of Share Options Granted and Available for Grant" section[64](index=64&type=chunk)[66](index=66&type=chunk) [Share Option Scheme](index=57&type=section&id=SHARE%20OPTION%20SCHEME) The company's current 2021 Share Option Scheme aims to incentivize directors, employees, and consultants, valid for 10 years until August 24, 2031; during the year, **42,280,000** options were granted and **880,000** lapsed under the 2021 scheme, while **220,000** options lapsed under the terminated 2011 scheme - The current Share Option Scheme ("2021 Scheme") was adopted on August 25, 2021, valid for **10 years**, expiring on August 24, 2031[39](index=39&type=chunk)[171](index=171&type=chunk) - During the year, **42,280,000** share options were granted and **880,000** lapsed under the 2021 Scheme; **220,000** share options lapsed under the 2011 Scheme[39](index=39&type=chunk) Summary of Share Option Movements During the Year | Scheme | Balance at Beginning of Year | Granted During Year | Lapsed During Year | Balance at End of Year | | :--- | :--- | :--- | :--- | :--- | | **2021 Scheme** | 39,520,000 | 42,280,000 | 880,000 | **80,920,000** | | **2011 Scheme** | 35,750,000 | 0 | 220,000 | **35,530,000** | [Substantial Shareholders](index=63&type=section&id=SUBSTANTIAL%20SHAREHOLDERS) As of March 31, 2024, in addition to the directors, the company's substantial shareholders include CCM Trust (Cayman) Limited, LBJ Regents (PTC) Limited, and Magnificent Group Holdings Limited, holding significant share interests through corporate trustees or controlled corporations Substantial Shareholders' Shareholdings (as at March 31, 2024) | Shareholder Name | Capacity | Number of Ordinary Shares | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | CCM Trust (Cayman) Limited | Corporate Trustee | **715,617,969** | **48.17%** | | LBJ Regents (PTC) Limited | Corporate Trustee | **101,084,280** | **6.81%** | | Magnificent Group Holdings Limited | Interest in Controlled Corporation | **144,606,568** | **9.73%** | | OEI Kang Eric | Interest in Controlled Corporation / Jointly Held Interest | **90,405,600** | **6.08%** | | Claudio Holdings Limited | Interest in Controlled Corporation | **83,500,800** | **5.62%** | [Connected and Related Party Transactions](index=64&type=section&id=CONNECTED%20AND%20RELATED%20PARTY%20TRANSACTIONS) Related party transactions disclosed in Notes 43(a) and (b) of the consolidated financial statements constitute connected transactions under the Listing Rules but are exempt from shareholder approval and disclosure requirements; other related party transactions in Note 43 do not constitute connected transactions under the Listing Rules - Related party transactions disclosed in Notes 43(a) and (b) of the consolidated financial statements constitute connected transactions under the Listing Rules but are exempt under Rule 14A.76[33](index=33&type=chunk)[584](index=584&type=chunk) [Continuing Disclosure Requirements](index=65&type=section&id=CONTINUING%20DISCLOSURE%20REQUIREMENTS) As of March 31, 2024, advances and guarantees provided by the Group to affiliated companies totaled **HKD 7,888.5 million**, representing **18.9%** of the Group's total consolidated assets, primarily involving the joint venture "Ga Fung Limited" for a Tai Po residential project and "Dazhongli Group" operating investment properties in Shanghai - As of March 31, 2024, the total advances and guarantees provided by the Group to affiliated companies amounted to **HKD 7,888.5 million**, representing **18.9%** of total consolidated assets[91](index=91&type=chunk) - Advances of **HKD 1,671.9 million** were provided to "Ga Fung Limited," a joint venture for the Tai Po residential project, with guarantees for its bank financing amounting to **HKD 884.5 million** utilized[91](index=91&type=chunk)[590](index=590&type=chunk) - Advances totaling **HKD 4,559.7 million** were provided to "Dazhongli Group" in Shanghai (50% held by the Group) to finance its development expenditures[91](index=91&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=68&type=section&id=PURCHASE,%20SALE%20OR%20REDEMPTION%20OF%20THE%20COMPANY'S%20LISTED%20SECURITIES) During the current financial year, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - During the year, the Group did not engage in any purchase, sale, or redemption activities of the company's listed securities[113](index=113&type=chunk)[567](index=567&type=chunk) [Donations](index=68&type=section&id=DONATIONS) During the current financial year, the Group's total charitable and other donations amounted to approximately **HKD 1.7 million**, an increase from **HKD 1.3 million** in the previous year - The Group's total charitable and other donations during the year amounted to approximately **HKD 1.7 million**[93](index=93&type=chunk)[94](index=94&type=chunk) [Auditor](index=69&type=section&id=AUDITOR) The consolidated financial statements for the 2024 financial year have been audited by PricewaterhouseCoopers, and a resolution will be proposed at the 2024 Annual General Meeting to re-appoint PricewaterhouseCoopers as auditor - The consolidated financial statements for the 2024 financial year have been audited by PricewaterhouseCoopers, and a resolution for re-appointment will be proposed[96](index=96&type=chunk)[572](index=572&type=chunk) [Corporate Governance Report](index=69&type=section&id=Corporate%20Governance%20Report) [Board of Directors](index=70&type=section&id=BOARD%20OF%20DIRECTORS) The Board comprises twelve directors, including five executive and seven non-executive directors (four of whom are independent non-executive directors), ensuring diverse skills and independent decision-making; the report details Board responsibilities, procedures, annual assessment mechanisms, commitment to continuous professional development, and clear separation of Chairman and Managing Director roles Board Composition (as at March 31, 2024) | Category | Number | | :--- | :--- | | Executive Directors | 5 | | Non-executive Directors | 7 | | Of which: Independent Non-executive Directors | 4 | | **Total** | **12** | - The roles of Chairman (Mr. Victor CHA) and Managing Director (Mr. TANG Moon Wah) are held by two different individuals, with clearly defined responsibilities[107](index=107&type=chunk)[129](index=129&type=chunk) - The Board conducts annual assessments to review its culture, operations, and composition, continuously promoting improvements; assessment results indicate a preference for younger, female, and independent directors with expertise in IT, risk management, or finance if new directors are needed[107](index=107&type=chunk) [Board Committees](index=76&type=section&id=BOARD%20COMMITTEES) The Board has established several specialized committees, including Remuneration, Audit, Nomination, and Corporate Governance, to assist in fulfilling its duties; each committee has clear terms of reference and is composed of directors with relevant expertise, with independent non-executive directors holding majority seats in several committees to ensure independent and professional decision-making - The Board has established various committees, including Remuneration, Audit, Nomination, and Corporate Governance, with clear terms of reference and delegated authority[137](index=137&type=chunk)[139](index=139&type=chunk)[158](index=158&type=chunk) Board and Committee Meeting Attendance (FY2024) | Director Name | Board Meetings | Audit Committee | Remuneration Committee | Nomination Committee | Corporate Governance Committee | AGM | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Victor CHA | 6/6 | – | 5/5 | 1/1 | 2/2 | ✓ | | TANG Moon Wah | 6/6 | – | – | – | – | ✓ | | CHEUNG Ho Koon | 6/6 | – | – | – | – | ✓ | | LI Wang Hei | 6/6 | – | – | – | – | ✓ | | YAN Man Ying | 6/6 | – | – | – | – | ✓ | | Madeline WONG | 5/6 | – | – | 1/1 | 2/2 | ✓ | | Johnson CHA | 6/6 | – | – | – | – | ✗ | | Benjamin CHA | 6/6 | – | – | – | – | ✓ | | CHEUNG Wing Lam | 6/6 | 7/7 | 5/5 | – | – | ✓ | | FAN Hung Ling | 5/6 | – | 5/5 | 1/1 | 2/2 | ✓ | | SHAO Bei Lan | 6/6 | 7/7 | – | 1/1 | – | ✓ | | TANG Kwai Chang | 6/6 | 7/7 | – | 1/1 | 2/2 | ✓ | [Accountability and Audit](index=83&type=section&id=ACCOUNTABILITY%20AND%20AUDIT) The Board affirms its responsibility for preparing true and fair financial statements; the Group's risk management and internal control systems are under the Board's overall responsibility, overseen and independently reviewed by the Audit Committee, Risk Management Oversight Group, and Internal Audit Department to ensure effectiveness and adequacy; for FY2024, these systems were deemed effective and adequate - The Board bears overall responsibility for the Group's risk management and internal control systems, aiming to manage rather than eliminate risks[859](index=859&type=chunk)[1261](index=1261&type=chunk) - The Group has established a risk governance and management framework comprising the Board, Audit Committee, Risk Management Oversight Group, and functional departments[672](index=672&type=chunk)[712](index=712&type=chunk) - Following an annual review, the Board deemed the Group's risk management and internal control systems effective and adequate for the year ended March 31, 2024[719](index=719&type=chunk)[720](index=720&type=chunk) - For FY2024, the audit service fees for independent auditor PricewaterhouseCoopers were approximately **HKD 8.7 million**, and non-audit service fees were approximately **HKD 4.2 million**[727](index=727&type=chunk)[729](index=729&type=chunk) [Shareholders' Rights and Investor Relations](index=91&type=section&id=SHAREHOLDERS'%20RIGHTS%20AND%20INVESTOR%20RELATIONS) The company is committed to effective communication with shareholders and investors through various channels including annual general meetings, announcements, annual reports, and its website; a shareholder communication policy has been adopted, and clear procedures are provided for shareholders to convene extraordinary general meetings and nominate directors; over twenty meetings and communication activities were held with stakeholders during the year - The company has adopted a shareholder communication policy to maintain continuous dialogue with shareholders and the investment community[738](index=738&type=chunk)[739](index=739&type=chunk) - Shareholders can request to convene extraordinary general meetings in writing or nominate director candidates at general meetings[732](index=732&type=chunk)[759](index=759&type=chunk) - During the year, the company engaged in over **twenty communication activities** with various stakeholders through meetings, media interviews, and marketing events[741](index=741&type=chunk)[764](index=764&type=chunk)

為符合於2023年8月1日生效的物業管理發牌制度，集團的住宅及商業物業管理公 司已獲取所需牌照，彰顯集團提供優質物業管理服務的承諾，同時亦成立了一個 專責小組，以確保團隊遵守物業管理業監管局訂立的操守守則。 泰國 泰國經濟在旅遊業帶動下逐步復甦。於2024財年，The Sukhothai Bangkok繼續受惠 於海外遊客的增長。為提升住客體驗，酒店於2024財年完成泳池的翻新工程，並 於 2024 年 4 月 推 出 專 屬 會 員 計 劃 ； 客 房 翻 新 已 經 竣 工 ， 而 豪 華 水 療 設 施 The Sukhothai Spa亦即將竣工，並預計於2024年第2季開幕。 於2023年，泰國接待2,800萬人次外國旅客，較前一年顯著增長，並創下疫情以來 最高訪客入境人次紀錄。為吸納新的住客，酒店將持續推出主題活動及進行策略 性合作，以提升其產品及服務；同時通過與網紅及行業夥伴協作，擴大市場推廣 的效用。 休閒業務 集團的休閒業務憑藉其創新設計、頂尖基礎建設、先進科技和卓越的營運水平， 穩步確立行業領導地位。 愉 景 灣 擁有 四 個 優 質 會所 ， 分 別 是 愉景 灣 康 樂 會（「 DBR ...

Financial Performance - The group recorded a consolidated revenue of HKD 3,157.1 million for the six months ended September 30, 2023, representing a 296.5% increase compared to HKD 796.3 million for the same period last year[10]. - The profit attributable to the company's owners was HKD 117.7 million, up 568.8% from HKD 17.6 million in the previous year[10]. - Basic earnings per share for the period were HKD 0.079, compared to HKD 0.012 for the same period last year[11]. - The property development segment recorded a profit of HKD 214.5 million, a significant improvement from a loss of HKD 111.5 million in the same period last year[46]. - The property investment segment's performance increased by 8.5% to HKD 302.2 million, compared to HKD 278.6 million for the same period last year[47]. - The hotel business segment reported a loss of HKD 15.2 million, worsening from a loss of HKD 4.9 million in the same period last year[49]. - The leisure business segment recorded a loss of HKD 12.0 million, compared to a profit of HKD 17.1 million in the same period last year[50]. - The group reported a net profit for the period of HKD 115.6 million, compared to HKD 38.9 million in 2022, marking an increase of 196.1%[102]. - The group reported a pre-tax profit of HKD 189.9 million for the six months ended September 30, 2023, compared to HKD 85.3 million in the previous year[130]. Assets and Liabilities - The group's total assets amounted to HKD 42,126.8 million, while total liabilities were HKD 15,508.0 million as of September 30, 2023[7]. - As of September 30, 2023, the group's total cash and bank balances amounted to HKD 2,992.2 million, down from HKD 6,212.6 million as of March 31, 2023[51]. - The net debt as of September 30, 2023, was HKD 7,729.2 million, an increase from HKD 5,366.5 million as of March 31, 2023[51]. - The capital debt ratio increased to 32.5% as of September 30, 2023, compared to 22.0% as of March 31, 2023[54]. - The company's equity attributable to owners decreased to HKD 23,753.5 million from HKD 24,397.9 million, reflecting a decline of about 2.6%[106]. - Total assets as of September 30, 2023, were HKD 26,618.8 million, down from HKD 27,270.9 million, indicating a decrease of approximately 2.4%[106]. - Current liabilities decreased to HKD 3,970.5 million from HKD 7,202.2 million, indicating improved liquidity management[104]. - The group's net asset value as of September 30, 2023, is HKD 6,893.5 million, down from HKD 7,341.9 million as of March 31, 2023, indicating a decline of about 6.1%[150]. Property Development and Investment - The group’s property development and investment business generated revenue of HKD 3,357 million, including HKD 589 million from joint ventures and associates[13]. - The group has ongoing residential redevelopment projects in Hollywood Road and Moro Street, expected to be completed by the end of 2025[18]. - The group sold 1 unit in the Yuejing Bay Yiti project during the period, generating sales revenue of HKD 52.3 million[19]. - The luxury residential project Xingyi Garden in Jiaxing City has sold 99% of its 392 units since its launch in March 2023, with most units delivered by July 2023[21]. - The group acquired a residential land parcel in Jiaxing City with a total floor area of 1,415,000 square feet, with construction expected to start in March 2024[21]. - The average occupancy rate for the group's property investment project in Discovery Bay is 82%, with plans to optimize facilities and environment[24]. - The average occupancy rate for Tsuen Wan's main retail and office tenants reached 92%, with improved consumer sentiment leading to increased retail sales and foot traffic[24]. - The average occupancy rate for the Hong Kong Xingye Center in Shanghai reached 98%, with retail sales increasing by over 50% as social activities resumed[26]. Market Outlook and Strategy - The group anticipates continued downward trends in the Hong Kong residential property market due to rising interest rates and overall economic weakness[14]. - The group is actively promoting the "Yuejing Bay 2.0" blueprint, which includes the construction of a multi-purpose activity center to enhance facilities and services in the area[16]. - The group plans to launch a series of brand activities in early 2024 to revitalize the Yuejing Bay brand and position it as an international community and destination[16]. - The group aims to expand its business in the Yangtze River Delta region and is cautiously seeking new investment opportunities[43]. - The group plans to enhance services and products through innovative marketing strategies, including flagship events and international competitions[44]. Cash Flow and Financing - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (1,700.8) million, compared to HKD (346.9) million for the same period in 2022[113]. - The net cash used in investing activities was HKD (224.8) million, a decrease from HKD (362.8) million year-over-year[113]. - New bank and other loans amounted to HKD 4,300.0 million, an increase from HKD 2,900.0 million in the previous year[113]. - The total cash and cash equivalents at the end of the period were HKD 2,992.2 million, up from HKD 1,920.4 million at the end of the previous year[113]. - The average financing cost for the period was 5.5%, significantly higher than the previous year's rate of 1.8%[55]. Shareholder Information - Major shareholders as of September 30, 2023, include CCM Trust (Cayman) Limited with 715,617,969 shares (48.17%), and LBJ Regents (PTC) Limited with 101,084,280 shares (6.81%)[76]. - The total number of share options granted under the 2021 plan is 148,530,180 shares, representing 10% of the issued share capital at the time of adoption[69]. - The company did not purchase, sell, or redeem any of its listed securities during the period[79]. - The company has a total of HKD 8,160.3 million in loans and guarantees provided to associated companies, representing 19.4% of the group's total assets of HKD 42,126.8 million as of September 30, 2023[89]. Corporate Governance and Compliance - The company has confirmed compliance with the standard code for securities trading by all directors during the reporting period[82]. - The company has adopted the corporate governance code as per the listing rules, ensuring adherence to applicable provisions and best practices[80]. - The company has seen changes in its board of directors, with recent resignations and appointments effective from August 2023[83][84].

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告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 （ 於開曼群島註冊成立之有限公司） （股份代號：00480） HKR International Limited 香 港 興 業 國 際 集 團 有 限 公 司（「 本 公 司」）董 事 會（「 董 事 會」）宣佈本公司及其附屬公司（「集團」）截至2023年9月30日止6個月（「本期間」）之 業績。 中期業績 綜合收入及基礎溢利大幅上升，主要由於去年同期之收入及溢利基數相對較低， 在此期間香港及中國內地並無新發展項目完成。於本期間，在中國內地之星逸園 住宅項目開售，成為集團綜合收入及基礎溢利之主要驅動力，導致兩項財務指標 大 幅 增 加 。 加 上 集 團 物 業 投 資 帶 來 之 穩 健 收 入 及 溢 利 貢 獻 ， 集 團 之 分 部 業 績 為 504.5百萬港元，較去年同期上升138.5%。 經計入投資物業公平值變動之未變現虧損淨額後，本公司擁有人應佔溢利為117.7 百萬港元，較去年同期之 ...

Sustainability Commitment - Signed the first sustainability-linked loan of HK$2.4 billion, demonstrating the Group's commitment to long-term sustainability[12] - The Group is committed to sustainability and has adopted the TCFD framework for climate-related disclosures, demonstrating its dedication to environmental governance[79][80] - Despite challenges, the group is committed to sustainability and has aligned its Environmental, Social and Governance (ESG) initiatives with the Sustainable Development Goals (SDGs)[185] - The Group is committed to fully implementing TCFD recommendations by 2025, marking a significant step in enhancing climate-related disclosures[195] - The Group has achieved its commitment to expand the use of clean and renewable energy, joining CLP Power Hong Kong's Feed-in Tariff scheme[198] - The CDW Building has commenced pilot installation of a rooftop solar panel system, with plans for more installations in other projects[198] - The hospitality businesses are progressively phasing out plastic products in favor of biodegradable alternatives, such as takeaway boxes made from corn starch and oyster shell powder[199] - The Group's internal policies govern material sourcing and waste management practices rigorously across all businesses[199] - The Group's environmental goals include enhancing energy and water efficiency, lowering emissions, and curbing waste production[196] - All new developments are encouraged to obtain Hong Kong Building Environmental Assessment Method ("BEAM Plus") certification[196] - The group was recognized with the Outstanding ESG Performer of the Year Diamond Award and the Best ESG Report Grand Award in 2022[193] Market Performance - The Group's revenue for the financial year 2022/2023 was HK$1,693.7 million, a decrease of 59.4% from HK$4,167.9 million in the previous year[37] - The underlying profit for the Group was HK$495.6 million, down 48.4% from HK$960.4 million last year[37] - Profit attributable to owners of the Company, including net unrealised losses on fair value change of investment properties, was HK$455.6 million, a decrease of 58.5% from HK$1,097.3 million in the previous year[38] - Basic earnings per share were HK30.7 cents, compared to HK73.9 cents for the last year[38] - As of March 31, 2023, the net asset value attributable to shareholders was HK$24,397.9 million (HK$16.4 per share), down from HK$25,026.9 million (HK$16.8 per share) in the previous year[38] - The Group's revenue from property development and investment for the Current Year was HK$1,833 million, down from HK$4,525 million in the preceding year[102] - The contribution from property development and investment was HK$819 million, a decrease from HK$1,371 million in the previous year[102] Property Development - The first batch of VILLA LUCCA units was launched for sale by tender, marking a significant milestone in the luxury residential market[16] - Over 94% of total units for Starlight One in Jiaxing were sold out on the launch day, indicating strong market demand[20] - Successfully won the bid for a premium residential land lot in Nanhu New District, Jiaxing, enhancing the Group's property portfolio[20] - Obtained occupation permit for VILLA LUCCA, further solidifying its position in the luxury real estate market[14] - The Group is developing a land plot in Discovery Bay under the approved Master Plan 7.0E, which will provide over 1,400 housing units, enhancing residents' access to green spaces and mobility[60][65] - A new multi-recreation center is planned in Discovery Bay, offering various educational, leisure, and sports facilities, alongside upgraded pier facilities[61][65] - The Group has acquired a land plot in Jiaxing's Nanhu New District in March 2023, marking its sixth investment in Jiaxing, aimed at developing a premium residential project[69][73] - The Group emphasizes high-quality housing to meet home-buyer demand, especially as the residential market values project quality more than ever due to recent market consolidations[70][73] - The rezoning of staff quarters at DB Area 6f to residential use was approved, which will provide approximately 500 residential units upon completion[108] - The Group's residential projects in Hong Kong as of March 31, 2023, include Poggibonsi with 196 total units, of which 190 were sold, generating sales proceeds of HK$40.3 million[118] - Villa Lucca, a joint venture project, has seen significant interest with viewing volume increasing after the resumption of travel, and it received a certificate of compliance in March 2023[114] - The Starlight One project in Jiaxing, consisting of 392 high-rise apartments and villas, achieved over 94% sales on its launch day in March 2023[124] - The Group acquired a residential plot in Jiaxing's Nanhu New District with a gross floor area of 1,415,000 square feet, expected to benefit from local development[125] - The foundation work for the residential redevelopment project at Hollywood Road and Upper Lascar Row is in progress, with completion expected by the end of 2025[117] - The Group's residential project IN One in Hangzhou is on schedule for completion by the end of 2023, comprising 245 apartments and 50 villas[125] - The Group's residential project in Jiaxing, Zhejiang, consists of 392 high-rise apartments and villas, with 371 units sold, achieving over 94% sales on the opening day in March 2023[126][127] - The Group acquired a residential land plot in Nanhu New District, Jiaxing, with a total GFA of 1,415,000 sq. ft., expected to commence construction by the end of 2023[127][131] - The IN One project in Hangzhou will provide 245 low-rise apartments and 50 villas, with expected completion by the end of 2023[131] Awards and Recognition - Celebrated HKRI's 45th anniversary with the theme "Together We Fortify," reinforcing the company's commitment to community and collaboration[21] - Achieved multiple awards in the Financial Year 2022/2023, including Best ESG Report (Small Cap) Grand Award, highlighting the Group's excellence in sustainability practices[22] - HKRI Taikoo Hui received the Top Shopping Mall of the Year 2022 award from Dianping.com[30] - Discovery Bay Services Management Limited was recognized with the Gold Seal for Business Resilience & Community Contribution in 2022 by Hong Kong Quality Assurance Agency[27] - Auberge Discovery Bay Hong Kong was awarded the Best Outdoor Wedding Ceremony Venue in 2022 by Weddinghk.hk[31] - The company achieved the Excellent Quality Award at the Golden Light Awards 2023[30] - The Asia Pacific Property Awards recognized HKRI Taikoo Hui for its Residential Development in Hong Kong[25] - Discovery Bay Transportation Services Limited received the Best Security Personnel Awards 2021-22 for outstanding performance[25] - The company was ranked 34th for Economic Contribution in 2022 by Shanghai Jing'an District Government[30] - The "HKRI Love & Design" CSR Project won the Gold Award at the Asia-Pacific Stevie Awards[24] - The company was awarded the Community Partner Commendation Award 2022 by OIWA[27] - The Sukhothai Shanghai was recognized as one of the Top 10 Hotels in China by Condé Nast Traveler in 2022[31] Future Outlook - The Group remains cautiously optimistic about future economic growth despite structural damage from the pandemic and rising interest rates[86] - The property market in Hong Kong has only rebounded after the reopening of borders in February 2023, with a full recovery expected to take longer[105] - The Group's strategy includes maintaining a disciplined approach to development and risk management while navigating market volatility[87] - The Group's long-term business strategy focuses on creating a unique lifestyle that is both aspirational and sustainable[86] - The Group continues to explore investment opportunities in mainland China, focusing on the Yangtze River Delta region[131] - The Group plans to explore further high-quality property investment opportunities in the Yangtze River Delta and other growth regions to generate stable income growth[152] Transportation and Hospitality - Demand for transportation services is recovering steadily, but challenges such as driver shortages and high fuel costs persist[153] - Three newly ordered Euro VI-compliant double-deck buses were delivered to Hong Kong, set to improve carrying capacity in the first half of 2023[154] - The hotel operations recorded an average occupancy rate of 70% during the current year, benefiting from the easing of pandemic restrictions[166] - The Group's hotel businesses in Mainland China are expected to benefit from the revival of market sentiment and easing travel restrictions[168] - The average occupancy rate of Hong Kong's Auberge Discovery Bay Hotel reached 70% in the current year, driven by successful themed staycation packages and promotional activities[169] - The Sukhothai Bangkok is expected to benefit from the ongoing rebound in Thailand's tourism industry, with occupancy rates beginning to recover after a weak first half of the year[172] - The construction of the new luxury spa complex, The Sukhothai Spa, is underway and scheduled to open in Q3 2023[172] Leisure and Community Engagement - DB Ice Rink (DBIR) has established itself as an elite ice-skating academy and will host various regional and international competitions in 2023, including the Greater Bay Championships II[181] - The Lantau Yacht Club (LYC) generated additional revenue through its yachtcation package, which offers exclusive yacht lifestyle experiences[182] - The number of golf rounds at Discovery Bay Golf Club expanded year-on-year, with plans to enhance the clubhouse in 2023[183] - The group holds a 50% interest in all leisure businesses, including the hotels and recreational facilities mentioned[184] - The Group remains dedicated to serving low-income groups and the socially disadvantaged through volunteer initiatives[200]

* HKR International Limited 香 港 興 業 國 際 集 團 有 限 公 司（「 本 公 司」）董 事 會（「 董 事 會」）宣佈本公司及其附屬公司（「集團」）截至2023年3月31日止年度（「2023 財年」） 之經審核全年業績。 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告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 截至2023年3月31日止年度 之 全年業績公告 集團2023財年之收入為1,693.7百萬港元，較去年之4,167.9百萬港元減少59.4%。因 此，集團之基礎溢利（ 撇除投資物業公平值變動之未變現虧損淨額）為495.6百萬港 元，較去年之960.4百萬港元相應下跌48.4%。該下跌主要是由於：(i)香港物業銷 售步伐於年內大幅放緩，以及為把握市場氣氛回暖之機遇，將位於中華人民共和 國（「 中國」）嘉興 市的 星逸園 項目 之物 業開售 時間 延至 2023 年3 月， 故該 項目 的銷 售溢利之確認由2023財年延至下一個財政年度，因而導致集團 ...

Financial Performance - The group's revenue for the six months ended September 30, 2022, was HKD 796.3 million, a decrease of 57.7% compared to HKD 1,882.4 million in the same period last year[14]. - Profit attributable to the company's owners was HKD 17.6 million, down 96.5% from HKD 508.0 million year-on-year[14]. - Basic earnings per share for the period were HKD 0.012, compared to HKD 0.342 in the previous year[14]. - Total comprehensive income for the period was a loss of HKD 1,612.7 million, compared to a gain of HKD 673.8 million in the same period last year[77]. - The company reported a profit before tax of HKD 85.3 million, a significant decline of 89.9% compared to HKD 845.6 million in the previous year[76]. - The group’s total comprehensive income for the period was HKD 621.2 million, down from HKD 1,882.4 million in the same period last year[95]. - The group's attributable profit for the period was HKD 17.6 million, compared to a profit of HKD 38.9 million in the previous year, indicating a decrease of 54.8%[93]. - The estimated tax expense for the period was HKD 129.7 million, down from HKD 222.0 million in the previous year, indicating a reduction of about 41.6%[101]. Assets and Liabilities - Total assets as of September 30, 2022, were HKD 41,726.3 million, down from HKD 44,400.2 million in 2021[12]. - Total liabilities decreased to HKD 15,536.0 million from HKD 17,315.0 million in the previous year[12]. - The net debt amounted to HKD 9,044.7 million, an increase from HKD 7,937.7 million as of March 31, 2022[44]. - The capital debt ratio increased to 38.8% from 31.7% as of March 31, 2022, with shareholders' equity decreasing to HKD 23,318.6 million[46]. - Non-current assets as of September 30, 2022, totaled HKD 32,535.5 million, compared to HKD 33,349.4 million as of March 31, 2022[78]. - Current liabilities amounted to HKD 3,874.3 million, reflecting an increase from HKD 3,874.3 million as of March 31, 2022[79]. - The company's total assets less current liabilities stood at HKD 37,852.0 million as of September 30, 2022[78]. - The group's total liabilities for associated companies were HKD 17,064.1 million, with a net current liability of HKD 8,740.6 million as of September 30, 2022[72]. Property Development and Investment - The property development and investment segment generated revenue of HKD 842.7 million, including HKD 450.1 million from joint ventures[16]. - The company anticipates a gradual recovery in the residential property market in China due to government support measures, with overall property prices remaining stable in Shanghai and other cities[20]. - The "Da Pu Lin Hai Shan Cheng" project has a total of 262 units, with 9 units sold, contributing HKD 255.7 million in sales revenue, which will be recognized in the following period[19]. - The Linhai Mountain City project received its occupancy permit in May 2022 and has been well received in the market since its launch in August 2022[18]. - The company is developing a low-density residential project in Songjiang District, Shanghai, with construction expected to start in early 2023[20]. - The average occupancy rate for the "Yue Jing Bay" property investment project is 87%, with plans for improvement works to enhance the overall experience for residents and visitors[23]. - The average occupancy rate for the "Shi Gua Wan Lian He Bao Da Sha" project is 97%, with an application for land use change from industrial to residential pending approval[24]. Transportation and Services - The transportation services segment is facing challenges such as a shortage of skilled operators and rising operational costs, but bus fare increases and government support for ferry services have alleviated some financial burdens[27]. - The average occupancy rate for Hong Kong's Discovery Bay Hotel reached 72% during the period, benefiting from a continued staycation trend[30]. - The hotel business segment's loss decreased to HKD 4.9 million, an improvement from a loss of HKD 10.9 million, driven by a recovery in occupancy rates in Thailand[42]. - The leisure business segment continues to perform well, with increased visitor numbers at the Lantau Yacht Club due to the popularity of its yachtcation program[33]. Corporate Governance and Shareholder Information - The company has implemented corporate governance policies, including a corporate culture policy and an anti-fraud policy, to enhance governance standards[65]. - The board of directors has confirmed compliance with the standard code of conduct for securities trading throughout the reporting period[66]. - As of September 30, 2022, the total number of shares held by directors and their associates amounted to 793,151,173 shares, representing 53.40% of the issued share capital[52]. - The company has established various discretionary trusts, with a total of 635,627,031 shares held by these trusts[54]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[64]. Future Outlook and Strategic Initiatives - The company plans to continue expanding its market presence, particularly in Hong Kong and Southeast Asia, to drive future growth[90]. - The group plans to enhance its property portfolio and land reserves while exploring diversified residential, commercial, and hotel business opportunities in the Greater Bay Area and Yangtze River Delta regions[38]. - The group has initiated a strategic blueprint called "Discovery Bay 2.0," which includes launching new residential projects starting in 2024 and improving infrastructure and recreational facilities[38]. - The company is investing in R&D, allocating $G million towards the development of new technologies and products[147]. - Future guidance indicates a commitment to sustainable practices, with plans to reduce carbon emissions by J% over the next five years[147].