Financial Performance - The company reported a total revenue of approximately HKD 31 billion from property sales, including contributions from joint ventures of about HKD 1.8 billion[3]. - The company recorded a consolidated loss attributable to shareholders of HKD 425.6 million for the fiscal year[3]. - The total revenue for the year ended March 31, 2024, was approximately HKD 1,579,100,000, representing a 96.3% increase from HKD 804,300,000 in the previous year[32]. - The group recorded a consolidated loss attributable to the company's owners of HKD 425,600,000 for the year ended March 31, 2024, compared to a profit of HKD 335,700,000 for the year ended March 31, 2023[32]. - The company's revenue for the year ended March 31, 2024, was HKD 1,579 million, an increase of 96.5% from HKD 804 million in the previous year[41]. - The attributable loss to the company's owners was HKD 426 million, compared to a profit of HKD 336 million in the previous year, primarily due to impairment losses on a joint venture project[41]. - The basic loss per share was HKD 4.59, a decline from earnings of HKD 3.58 per share in the previous year[52]. - The group reported a total revenue of HKD 1,623,595,000 for the year ending March 31, 2024, compared to HKD 869,235,000 in the previous year, representing an increase of approximately 86.7%[148]. - The revenue from customer contracts reached HKD 1,343,298,000, significantly up from HKD 545,879,000, marking an increase of about 145%[148]. - For the fiscal year ending March 31, 2024, the company reported a loss attributable to shareholders of HKD (425,605) thousand, compared to a profit of HKD 335,654 thousand in the previous year[198]. Market Conditions - The residential property market in Hong Kong faced significant resistance, with a notable decline in housing sales due to rising borrowing costs and buyer affordability concerns[4]. - The company anticipates a cautious outlook for the upcoming fiscal year due to ongoing challenges and uncertainties in the real estate market[1]. - The company maintains a cautious outlook for the real estate markets in mainland China and Hong Kong, expecting continued challenges due to geopolitical factors and slow economic recovery[38]. - The company is optimistic about the long-term prospects of the Hong Kong real estate industry, expecting a potential recovery in the medium to long term[75]. - The company expects the high interest rate environment in Hong Kong to gradually ease, which may alleviate some pressure on the local commercial and residential markets[75]. Property Development and Sales - The company launched a residential portion of a joint redevelopment project in May 2024, achieving positive market response with over 140 units sold at favorable prices[4]. - The group has several residential projects planned for future launch, including a joint residential project above Wong Chuk Hang MTR Station and a project at Yau Tong Ventilation Building[21]. - The expected construction area for the joint project at Yuen Long is approximately 480,000 square feet, aimed at providing affordable housing[21]. - The company anticipates strong market response for its residential units in the MTR Yau Tong project, expected to be pre-sold in the first half of 2025[57]. - The residential project "THE SOUTHSIDE" at MTR Wong Chuk Hang Station is expected to have a total construction area of approximately 636,000 square feet, with residential units anticipated to be pre-sold in the second half of 2024[72]. - The company is redeveloping the Yuen Long joint venture project into a popular residential project, with an expected construction area of approximately 480,000 square feet[46]. - The company launched the residential portion of the "Gao Lin" redevelopment project in Jordan in May 2024, achieving over 140 units sold at favorable prices[69]. Financial Position and Liquidity - The net asset value attributable to shareholders, as of March 31, 2024, was approximately HKD 13.73 billion, with a market value adjustment of HKD 1.72 billion for properties held for sale[9]. - The group maintains a solid liquidity position with bank balances and cash of approximately HKD 2,523,900,000 as of March 31, 2024[32]. - The group's total external borrowings amounted to approximately HKD 10,184,500,000 as of March 31, 2024, down from HKD 11,151,900,000 a year earlier, with a debt-to-asset ratio of 38.8%[32]. - The company successfully refinanced a syndicated loan of HKD 1.3 billion, ensuring sufficient liquidity and strong financial health[37]. - The company is committed to prudent asset-liability management while balancing growth objectives to achieve optimal returns for shareholders[75]. Investment Properties - The company’s investment properties were valued at approximately HKD 3.20 billion as of March 31, 2024, down from HKD 3.36 billion the previous year[17]. - The company reported a loss of HKD 81,250,000 from investment properties, slightly improved from a loss of HKD 84,046,000 in the previous year[191]. - The company’s total revenue from rental income of investment properties was HKD 124,078,000, slightly decreased from HKD 125,284,000 in the previous year[191]. - The group’s investment properties were measured at fair value, with the board confirming that the investment properties are not held for business purposes[142]. Employee and Director Compensation - The company has a total of 104 employees as of March 31, 2024, down from 106 in the previous year[13]. - The total employee costs for the year amounted to HKD 110,728,000, a decrease from HKD 131,500,000 in the previous year, reflecting a reduction in performance bonuses and other benefits[191]. - The company’s board of directors' remuneration was reported at HKD 37,552,000, down from HKD 44,752,000 in the previous year[191]. - The total remuneration for directors and the five highest-paid employees amounted to HKD 44,752 thousand for the fiscal year ending March 31, 2024[196]. - The total remuneration for independent non-executive directors was HKD 31,568 thousand for the fiscal year ending March 31, 2024[194]. Risk Management - The company emphasizes strict cost management and prudent risk management practices to navigate current market challenges[37]. - The company assesses credit risk by comparing the default risk of financial instruments at the reporting date with that at initial recognition, considering both quantitative and qualitative data[95]. - The company recognizes expected credit losses based on the present value of estimated cash flows, considering any amounts expected to be collected from holders or debtors[103]. - The company has a policy of recognizing lifetime expected credit losses for trade receivables[93]. - The company evaluates significant adverse changes in external market indicators, such as credit spreads and the credit default swap prices of debtors, to assess credit risk[96].

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。 年度業績公告 截至二零二四年三月三十一日止年度 管理層討論與分析 年內本集團收益為1,579,100,000港元，較上一年度之804,300,000港元增加 774,800,000港元。年內虧損為456,000,000港元，而上一年度則錄得溢利 365,100,000港元。本公司擁有人應佔虧損主要由於截至二零二四年三月三十一日 止年度確認位於古洞北╱粉嶺北新發展區之一個合營項目之應收合營企業款項減 值虧損所致，更多詳情已於本公司日期為二零二四年五月三十一日之公告內披露。 * 僅供識別 於住宅物業行業，借貸成本飆升亦讓現正面對更高按揭利率的潛在買家望而卻步。 由於買家對其負擔能力越趨憂慮，導致房屋銷售大幅下降。最近，住宅物業的所 有需求管理措施已於二零二四年三月廢除，此舉有助重振市場氣氛，且我們留意 到各發展商推出的多個一手樓盤均獲得良好市場反應。本集團藉著市場反彈的良 好勢頭，於二零二四年五月推出我們位 ...

智通财经APP讯，资本策略地产(00497)发布公告，林家礼博士(BBS, JP)(林博士)退任独立非执行董事职务以投放更多时间于其他业务，自2024年3月28日起生效。林博士将不再担任董事会审核委员会(审核委员会)、董事会薪酬委员会(薪酬委员会)及董事会提名委员会(提名委员会)的成员，自同日起生效。 董事会亦宣布，卢永仁博士(JP)已获委任为董事会薪酬委员会及提名委员会成员，自2024年3月28日起生效。 ...

Financial Performance - The company's revenue for the interim period ending September 30, 2023, was 324,000,000 HKD, compared to 230,700,000 HKD in the previous interim period, with a consolidated profit of 56,000,000 HKD, a decrease of 37,100,000 HKD from the previous period[23] - The company recorded a net profit attributable to owners of approximately HKD 57,600,000 for the six months ended September 30, 2023, compared to HKD 61,600,000 in the same period last year[39] - The group's revenue for the six months ended September 30, 2023, was HK$323.983 million, compared to HK$230.732 million in the same period last year[103] - Gross profit for the period was HK$191.964 million, up from HK$124.515 million in the previous year[103] - Profit before tax for the six months ended September 30, 2023, was HK$52.209 million, a decrease from HK$114.199 million in the same period last year[103] - Net profit for the period was HK$55.989 million, down from HK$93.071 million in the previous year[103] - Revenue from property sales and rental income increased to HKD 323,983 thousand in the first six months of 2023, up from HKD 230,732 thousand in the same period of 2022[119] - Net profit for the period decreased to HKD 55,989 thousand in the first six months of 2023, down from HKD 93,071 thousand in the same period of 2022[126] - The company's total revenue for the six months ended September 30, 2023, was HK$1,100,928 thousand, with a significant portion coming from residential property sales[141] - Revenue from securities investments for the six months ended September 30, 2023, was HK$26,877 thousand[141] - The company's total revenue from external customers for the six months ended September 30, 2023, was HK$323.983 million, compared to HK$230.732 million in the same period last year[176] - Basic earnings per share attributable to the company's owners were calculated based on a profit of HKD 57,579 thousand, compared to HKD 61,570 thousand in the previous year[186] Assets and Liabilities - The company's total external borrowings (including bank loans and guaranteed notes) amounted to approximately 10,710,700,000 HKD as of September 30, 2023, with a total liabilities to total assets ratio of 38.2%[22] - The company's investment properties and properties held for sale were valued at 3,174,482,000 HKD and 6,100,536,000 HKD, respectively, as of September 30, 2023[18] - The company's total issued and fully paid shares as of September 30, 2023, were 9,218,939,676, with a total value of 73,752,000 HKD[3] - The company's fair value of guaranteed notes listed on the Singapore Exchange was 1,873,477,000 HKD as of September 30, 2023, down from 2,017,530,000 HKD as of March 31, 2023[5] - The company's bank balance and cash included 5,297,000 HKD in fixed deposits with original maturities exceeding three months as of September 30, 2023[1] - The company's total assets as of September 30, 2023, were HKD 60,576,712,000, with total liabilities of HKD 55,609,799,000[53] - The company's non-current assets and current assets were HKD 47,827,000 and HKD 60,576,712,000, respectively, as of September 30, 2023[53] - The company's total assets as of September 30, 2023, were HK$28,040,914 thousand, with commercial property holdings accounting for HK$15,502,062 thousand[149] - Total liabilities as of September 30, 2023, were HK$2,805,783 thousand, with residential property holdings contributing HK$2,375,735 thousand[149] - The company's total liabilities as of September 30, 2023, were HK$13,843.359 million, compared to HK$13,366.733 million as of March 31, 2023[173] - Total assets minus current liabilities stood at HK$22.338 billion as of September 30, 2023, compared to HK$23.629 billion as of March 31, 2023[106] - The company's non-current assets as of September 30, 2023, totaled HKD 18,039,522, compared to HKD 17,681,238 as of March 31, 2023[92] - The company's current assets as of September 30, 2023, were HKD 10,001,392, compared to HKD 10,085,267 as of March 31, 2023[92] - The company's current liabilities as of September 30, 2023, were HKD 5,701,976, compared to HKD 4,137,013 as of March 31, 2023[92] - The company's net current assets as of September 30, 2023, were HKD 4,299,416, compared to HKD 5,948,254 as of March 31, 2023[92] - Non-current liabilities decreased to HKD 8,141,383 thousand as of September 30, 2023, from HKD 9,229,720 thousand as of March 31, 2023, primarily due to reductions in bank loans and deferred tax liabilities[129] - Total equity attributable to the company's owners stood at HKD 14,164,464 thousand as of September 30, 2023, compared to HKD 14,364,292 thousand as of March 31, 2023[129] - The group's equity attributable to owners of the company was HK$14.197 billion as of September 30, 2023, compared to HK$14.399 billion as of April 1, 2023[109] Investments and Projects - The company sold its entire stake in Marble Range Limited for a total cash consideration of 106,836,000 HKD, with the sale generating a net cash inflow of 106,836,000 HKD[14][15] - The company's joint venture luxury residential project "The Grand Mayfair" has sold 12 out of 16 units at premium prices, with efforts ongoing to sell the remaining units at high prices[26] - The company is collaborating with other firms to develop a high-end residential project "The Peak" on Po Shan Road, with one unit pre-sold at a high price and further sales expected[27] - The company holds two large-scale residential land plots in the "Northern Metropolis" area of the New Territories, supporting the government's development plan for the region[28] - The company's joint venture project in Wong Chuk Hang, "THE SOUTHSIDE," is expected to complete construction by 2025, with residential units expected to be pre-sold in 2024[45] - The company's joint venture project in Kwu Tung has a future attributable gross floor area of approximately 1,200,000 square feet, with the company holding a 40% interest in the project[46] - The company's rental rate for the "Four Seasons Place" shopping mall in Shanghai increased from 70% to 90% after renovation, achieving significant value growth[47] - The company sold 49% of its stake in Star Trail Limited and its subsidiaries to two independent third parties, with the remaining 51% classified as a joint venture. The joint venture issued a promissory note of HKD 152,000,000, bearing interest at HIBOR plus 1.2% per annum, with a maturity date of August 12, 2024, or 6 months from the issuance of the occupancy permit for the development property, whichever is earlier[66] - The group's landmark luxury property at 45 Barker Road, The Peak, was sold in October 2023, covering an area of 4,200 square feet[97] - Segment revenue from commercial properties was HKD 391,760 thousand, while residential properties contributed HKD 1,124,689 thousand in the first six months of 2023[120] - Revenue from commercial property holdings for the six months ended September 30, 2023, was HK$271,164 thousand, while residential property holdings generated HK$801,627 thousand[141] - The company's share of losses in joint ventures was HKD 390,590 thousand, a decrease from HKD 457,231 thousand at the end of the previous period[192] - The principal amount of payable to joint ventures was HKD 108,700 thousand, with an interest rate of 2% to 3% per annum[193] - Capital expenditure for properties held for sale was HKD 1,239 thousand, compared to HKD 147 thousand in the previous year[196] Financial Instruments and Market Valuation - The company's net loss on market valuation was HKD 118,700,000, including a net loss of HKD 117,400,000 on listed debt securities and a net loss of HKD 4,100,000 on equity securities[48] - The fair value of investment properties decreased by HKD 27,244,000 for the six months ended September 30, 2023, compared to zero for the same period in 2022[75] - The fair value of financial assets measured at fair value through profit or loss was HKD 211,897 as of September 30, 2023, compared to HKD 337,317 as of March 31, 2023[92] - As of September 30, 2023, HK$9.5 million of listed securities were pledged as collateral for bank financing, down from HK$30.3 million as of March 31, 2023[98] - Interest income from financial assets at fair value through profit or loss for the six months ended September 30, 2023, was HK$10,816 thousand[155] - Dividend income from financial assets at fair value through profit or loss for the six months ended September 30, 2023, was HK$3,929 thousand[155] - The company reported a fair value loss on financial assets at fair value through profit or loss of HK$120,264 thousand for the six months ended September 30, 2023[155] - Listed debt securities had a fair value of HKD 4,289 thousand, with fixed annual interest rates ranging from 2.5% to 11%[198] Cash Flow and Financing - The company obtained bank loans of approximately HKD 1,702,470,000 and repaid bank loans of approximately HKD 2,024,436,000 during the period. The bank loans as of September 30, 2023, were at floating rates, with HKD 7,800,110,000 at HIBOR plus 1.20% to 2.05% per annum[78] - Operating cash flow from business activities increased to HKD 1,027,832 thousand in the first six months of 2023, compared to HKD 38,203 thousand in the same period of 2022[113] - Net cash used in investing activities was HKD 151,475 thousand in the first six months of 2023, primarily due to investments in financial assets and property, plant, and equipment[113] - Net cash used in financing activities decreased to HKD 542,758 thousand in the first six months of 2023, compared to HKD 751,815 thousand in the same period of 2022, mainly due to lower bank loan repayments[114] - Total borrowing costs for the six months ended September 30, 2023, were HK$323.748 million, compared to HK$191.438 million in the same period last year[180] Employee and Operational Costs - The company's total number of employees as of September 30, 2023, was 102, down from 106 as of March 31, 2023[33] - The company's short-term benefits and retirement benefits expenses were HKD 16,402,000 and HKD 688,000, respectively, for the six months ended September 30, 2023, compared to HKD 22,089,000 and HKD 664,000 in the same period last year[36] - Total employee costs for the six months ended September 30, 2023, were HK$48.515 million, a decrease from HK$61.338 million in the same period last year[160] Taxation and Dividends - The company's subsidiaries in Macau did not generate taxable profits exceeding MOP 600,000 during the period, thus no provision for Macau supplementary income tax was required[158] - The company's subsidiaries in China had accumulated losses that could offset future profits, resulting in no provision for Chinese corporate income tax[159] - Hong Kong profits tax for the period was HKD 1,440 thousand, compared to HKD 22,413 thousand in the previous year, with an over-provision of HKD 140 thousand[181] - Deferred tax for the period was HKD (5,080) thousand, compared to HKD (1,334) thousand in the previous year[181] - The final dividend per share for the period was HKD 0.42, totaling HKD 39,350 thousand, consistent with the previous year[184] - The company did not recommend the payment of any interim dividend for the six months ended September 30, 2023, consistent with the same period in 2022[96] Other Income and Expenses - Other income, including bank interest income and loan interest income, totaled HK$167,942 thousand for the six months ended September 30, 2023[155] - Other income (loss) for the six months ended September 30, 2023, amounted to HK$31.385 million, compared to HK$13.76 million in the same period last year, primarily due to exchange gains and reversal of impairment losses on financial guarantee contracts[156] - Revenue from customer contracts for the six months ended September 30, 2023, was HK$203.298 million, with no comparable figure for the previous year[165] - The company did not acquire any property, plant, and equipment during the period, compared to HKD 17,000 in the previous year[188] - The company's bank balances and cash, as well as other payables and accrued expenses, were detailed in the financial statements[200]

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，概不對因本公佈全部或任 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。 資本策略地產有限公司 * CSI PROPERTIES LIMITED （於百慕達註冊成立之有限公司） （股份代號：497） 中期業績公告 截至二零二三年九月三十日止六個月 管理層討論及分析 業務回顧 截至二零二三年九月三十日止中期期間，資本策略地產有限公司（「本公司」）及其 附屬公司（「本集團」）的收益為324,000,000港元，而上一個中期期間為230,700,000 港元。截至二零二三年九月三十日止中期期間的綜合溢利為56,000,000港元，較上 一個中期期間的93,100,000港元減少37,100,000港元。 截至二零二三年九月三十日止六個月的本公司擁有人應佔綜合溢利為57,600,000 港元，較上一個中期期間的61,600,000港元減少4,000,000港元。中期期間之股東應 佔每股盈利為0.62港仙，而上一個中期期間則為0.66港仙。 全球經濟受到地緣政治和經濟挑戰的嚴重影響，復 ...

Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements of Capital Strategy Real Estate Limited fairly reflect the group's financial position as of March 31, 2023, in accordance with Hong Kong Financial Reporting Standards[11]. - The auditor has assessed the appropriateness of the accounting policies adopted by the directors and the reasonableness of accounting estimates and related disclosures[4]. - The auditor has identified and evaluated the risks of material misstatement in the consolidated financial statements due to fraud or error, and designed audit procedures to address these risks[2]. - The auditor's conclusion is based on sufficient and appropriate audit evidence obtained up to the date of the auditor's report, indicating that future events may affect the group's ability to continue as a going concern[7]. - The auditor has evaluated the overall presentation, structure, and content of the consolidated financial statements, including disclosures, to ensure they reflect the transactions and events fairly[7]. - The audit partner responsible for the independent auditor's report is Ms. Hung Shuk Fan[9]. - The auditor has maintained professional skepticism and exercised professional judgment throughout the audit process[2]. - The auditor has communicated with the governance team regarding the planned audit scope, timing, and significant audit findings[7]. - The auditor has confirmed independence and complied with relevant ethical requirements throughout the audit[8]. - The auditor's report does not provide separate opinions on key audit matters but describes them based on professional judgment[13]. Financial Performance - The total revenue for the fiscal year ending March 31, 2023, was approximately HKD 804.3 million, an increase of 91.3% compared to HKD 420.5 million in the previous year[37]. - The profit attributable to the company's owners was HKD 335.7 million, a decrease of 71.0% from HKD 1,156.2 million in the previous year, primarily due to the absence of fair value gains from properties sold[37]. - The company's total external borrowings amounted to HKD 11,151.9 million, with a debt-to-asset ratio of 40.2%, up from 39.0% the previous year[37]. - The basic earnings per share for the reporting year was HKD 3.58, down from HKD 12.26 in the previous year[38]. - The group maintained a solid liquidity position with bank balances and cash of approximately HKD 3,162 million, compared to HKD 3,479.3 million the previous year[37]. - The company proposed a final dividend of HKD 0.42 per share, consistent with the previous year[38]. - The company reported a consolidated profit attributable to shareholders of approximately HKD 340 million for the fiscal year ending March 31, 2023[59]. Property Valuation and Investments - As of March 31, 2023, the group has properties held for sale valued at HKD 6,386,824,000, with interests in joint ventures amounting to HKD 6,956,267,000, and development properties held for sale valued at HKD 10,423,927,000[15]. - The group's investment properties, located in mainland China, are valued at HKD 3,356,142,000, representing 12.09% of the total assets[18]. - The valuation of properties held for sale involves significant management estimates, particularly referencing independent qualified property valuers[15]. - The group’s valuation assessment includes understanding the valuation process, methods used, and the qualifications of the valuers involved[18]. - The total value of properties held for sale and investment properties is significant to the overall consolidated financial statements, necessitating careful evaluation[18]. Corporate Governance - The company has committed to high standards of corporate governance and compliance with the listing rules[37]. - The company complies with the Bermuda Companies Act and the Hong Kong Stock Exchange Listing Rules, ensuring high standards of corporate governance[125]. - All independent non-executive directors have confirmed their independence, and the nomination committee conducts an annual review of their independence[132]. - The board's composition considers diversity in terms of age, experience, culture, gender, and educational background[115]. - The company has a policy to ensure that all directors must retire at least once every three years[128]. - The audit committee's main role includes reviewing financial reports, risk management, and maintaining appropriate relationships with external auditors[121]. - The company has established four committees, including the audit committee and remuneration committee, to oversee specific matters and ensure effective governance[144]. - The board is responsible for setting corporate governance policies and monitoring compliance with legal and regulatory requirements[152]. Employee and Diversity Initiatives - The total number of employees as of March 31, 2023, was 106, down from 115 the previous year[42]. - The company maintains a gender diversity in its workforce, with 48% male and 52% female employees as of March 31, 2023[119]. - The board is satisfied with the effectiveness of its diversity policy, having appointed a female director on April 20, 2023, representing 9.1% of the board[166]. - The company actively recruits female employees to promote a diverse workplace[119]. Environmental and Social Responsibility - The company aims to integrate sustainable practices into its business operations, creating long-term value for customers, employees, business partners, shareholders, investors, and the community[194]. - The company is committed to exploring additional strategies to support the transition to a carbon-neutral economy[193]. - The company has engaged with stakeholders to understand their expectations and priorities regarding environmental, social, and governance issues[194]. - The company has implemented environmental initiatives by utilizing technology, such as replacing business travel with virtual meetings and promoting a paperless office[193]. - The company is focused on achieving carbon neutrality goals set by Hong Kong and China by 2050 and 2060, respectively[191]. Future Projects and Market Outlook - The luxury residential sector achieved significant sales performance despite the impact of the pandemic in Hong Kong and mainland China[60]. - Upcoming residential projects include developments near MTR Wong Chuk Hang Station and Yau Tong Station, with a focus on well-designed units in prime locations[61]. - The Novotel hotel redevelopment project is progressing well, with residential units expected to begin pre-sales by the end of 2023[64]. - The company remains cautiously optimistic about the real estate market in first-tier cities, particularly in retail properties, amid anticipated government policies to stimulate the economy[64]. - The group is making steady progress on a joint commercial development project in Central, expected to provide approximately 432,000 square feet of premium office space and luxury hotel facilities, with completion anticipated by the end of 2025[67].

(a) 為釐定有權出席股東週年大會並於會上投票的股東，本公司將於二零二三年 八月十八日（星期五）至二零二三年八月二十三日（星期三）（首尾兩日包括在內） 期間暫停辦理股東登記手續，期內將不會登記任何股份之轉讓。如欲符合出 席股東週年大會並於會上投票的資格，所有股份過戶文件連同有關股票，最 遲須於二零二三年八月十七日（星期四）下午四時三十分前交回本公司香港 股份過戶登記分處香港中央證券登記有限公司以辦理登記，地址為香港灣仔 皇后大道東183號合和中心17樓1712–1716號舖；及 總計 守則之守則條文第C.2.1條規定，主席及行政總裁的角色應有區分，並不應由一人 同時兼任。然而，本公司並無設立行政總裁職位。董事會認為，現行管理架構一 直有助促進本公司的營運及業務發展，而且具備良好企業管治常規的必要監控及 制衡機制。 香港，二零二三年六月二十九日 資本策略地產有限公司 * CSI PROPERTIES LIMITED （於百慕達註冊成立之有限公司） （股份代號：497） 年度業績公告 截至二零二三年三月三十一日止年度 * 僅供識別 管理層討論與分析 截至二零二三年三月三十一日止年度，本公司擁有人應佔本集團溢利為 ...

Financial Performance - The company reported revenue of HKD 230,732,000 for the six months ended September 30, 2022, representing a significant increase of 131.9% compared to HKD 99,665,000 in the same period last year[6]. - Gross profit for the same period was HKD 124,515,000, up 136.5% from HKD 52,585,000 year-on-year[6]. - The company recorded a net profit of HKD 93,071,000, a decrease of 45.9% from HKD 171,957,000 in the previous year[7]. - The earnings per share (EPS) decreased to HKD 0.66 from HKD 1.36, reflecting a decline of 51.5%[6]. - Total comprehensive income for the period was a loss of HKD 506,686,000, significantly down from a gain of HKD 131,461,000 in the previous year[13]. - The company reported a net profit of HKD 61,570,000 for the six months ended September 30, 2022, compared to HKD 128,496,000 for the same period in 2021, representing a decrease of approximately 52%[12]. - The consolidated profit for the same period was HKD 93.1 million, a decrease of HKD 78.9 million from HKD 172 million in the previous period[113]. - The profit attributable to shareholders for the six-month period was HKD 61.6 million, down from HKD 128.5 million, indicating a decline of HKD 66.9 million[113]. Assets and Liabilities - Total assets as of September 30, 2022, were HKD 23,187,644,000, down from HKD 24,972,885,000 as of March 31, 2022[10]. - The company’s non-current assets decreased to HKD 17,496,614,000 from HKD 17,501,431,000, indicating a slight decline[8]. - The company’s cash and cash equivalents decreased to HKD 2,607,493,000 from HKD 3,455,719,000, a reduction of 24.5%[8]. - The company’s total liabilities increased to HKD 9,211,646,000 from HKD 9,166,067,000, reflecting a rise in financial obligations[10]. - The company’s equity attributable to owners decreased to HKD 13,937,663,000 as of September 30, 2022, from HKD 14,871,225,000 a year earlier, reflecting a decline of about 6.3%[12]. - The total assets of the group as of September 30, 2022, were HKD 27,749,279,000, a slight decrease from HKD 28,993,194,000 as of March 31, 2022[36]. - The total liabilities of the group increased to HKD 13,773,281,000 from HKD 13,186,376,000, indicating a rise in financial obligations[36]. - The total liabilities to total assets ratio was 42.5% as of September 30, 2022, compared to 39.0% as of March 31, 2022[110]. Cash Flow and Financing Activities - Cash flows from operating activities showed a net cash outflow of HKD 38,203,000 for the six months ended September 30, 2022, compared to an outflow of HKD 356,824,000 in the previous year, indicating an improvement[15]. - The company recorded a net cash outflow from financing activities of HKD 751,815,000 for the six months ended September 30, 2022, compared to a net inflow of HKD 886,590,000 in the same period of 2021[17]. - The company raised new borrowings amounting to HKD 2,889,811,000 during the period, an increase from HKD 2,086,605,000 in the prior year[17]. - The group maintained a strong liquidity position with cash and bank balances of approximately HKD 2,621.9 million as of September 30, 2022, compared to HKD 3,479.3 million as of March 31, 2022[110]. - The total external borrowings amounted to approximately HKD 11,791.2 million as of September 30, 2022, an increase from HKD 11,309.4 million as of March 31, 2022[110]. Investments and Future Outlook - The company plans to focus on market expansion and new product development to enhance future growth prospects[5]. - The company plans to continue its focus on strategic investments and market expansion to enhance future growth prospects[14]. - The group’s capital strategy includes investments in commercial, residential, and Macau properties, with ongoing partnerships in Hong Kong and China[30]. - Future outlook includes continued focus on property development and strategic alliances to enhance market presence in key regions[30]. - The company is developing a strategic commercial project in Central, expected to provide approximately 432,000 square feet of premium office space, luxury hotel, dining, and retail[114]. - The company maintains a strong financial position and is optimistic about future market recovery and opportunities for new projects[113]. Shareholder Returns and Dividends - The company paid dividends amounting to HKD 39,361,000 during the period, consistent with its commitment to return value to shareholders[12]. - The company did not recommend the payment of an interim dividend for the current period, while the previous year’s interim dividend was zero[55]. - The company did not recommend any interim dividend for the six months ended September 30, 2022, consistent with the previous year[108]. Market Performance and Sales - The company reported a significant increase in sales of properties held for sale, amounting to HKD 105,879,000, compared to no sales in the same period last year[24]. - The total classified revenue from commercial properties was HKD 271,164,000, while residential properties contributed HKD 801,627,000 for the six months ended September 30, 2022[25]. - The group reports strong sales performance in high-end residential units, with a positive outlook for future sales, particularly in the mass residential sector[123]. - In Beijing, the "金輿東華" luxury residential project has seen nearly two-thirds of renovated units sold at high prices, indicating strong demand for luxury properties despite pandemic challenges[124]. Employee and Shareholder Information - As of September 30, 2022, the total number of employees was 113, a slight decrease from 115 as of March 31, 2022, with compensation based on market conditions and individual performance[128]. - As of September 30, 2022, the company’s major shareholder, Mr. Zhong, holds 5,179,192,062 shares, representing 55.28% of the total equity[130].

Financial Performance - Total revenue for the year ended March 31, 2022, was approximately HKD 420.5 million, an increase of 14.0% from HKD 368.7 million in the previous year[6]. - The net profit attributable to shareholders for the year was HKD 1,156.2 million, a significant increase of 249.5% compared to HKD 330.8 million in 2021[6]. - Basic earnings per share for the year were HKD 12.26, up from HKD 3.43 in the previous year[11]. - The group's total equity attributable to shareholders increased to HKD 14,508 million from HKD 13,298 million in the previous year[11]. - The company's profit attributable to shareholders for the year ended March 31, 2022, was HKD 1,156,200,000, compared to HKD 330,800,000 in the previous year, representing a significant increase[43]. - Total revenue for the year was HKD 420,500,000, an increase of HKD 51,800,000 from HKD 368,700,000 in the previous year[43]. - The group's total revenue from property sales, including contributions from joint ventures, was HKD 2,426,200,000, up from HKD 1,732,100,000 in the previous year[43]. Debt and Liquidity - The group's external borrowings totaled approximately HKD 11,309.4 million, down from HKD 11,939.0 million the previous year, with a debt-to-asset ratio of 39.0%[8]. - The group maintained a strong liquidity position with bank balances and cash amounting to approximately HKD 3,479.3 million, compared to HKD 1,500.8 million the previous year[7]. - The net asset value attributable to shareholders, including revaluation surplus from properties, was HKD 20,896.3 million[14]. - The group has pledged assets totaling HKD 10.65 billion as collateral for bank financing, which includes properties, plant and equipment, and investment properties[25]. Dividends - The proposed final dividend per share remained at HKD 0.42, consistent with the previous year[11]. - The company did not declare an interim dividend during the year[200]. - The board recommends a final dividend of HKD 0.42 per share for the year ended March 31, 2022, totaling approximately HKD 39.4 million[200]. - The total amount for the previous year's final dividend was HKD 39.9 million[200]. Employee and Workforce - The group employed a total of 115 staff as of March 31, 2022, an increase from 105 staff in the previous year[20]. - The total number of employees increased by 10% from 105 to 115 in the fiscal year 2021/2022[174]. - The overall employee turnover rate rose to 25%, up from 19% in the previous year, representing a 29% increase[176]. - The percentage of female employees increased from 51% to 55%, marking a 17% rise[174]. - 5% of employees received training during the reporting period, all of whom were senior male management, with an average training time of 0.25 hours[178]. Corporate Governance - The company adheres to high standards of corporate governance, complying with Bermuda Company Law and the Hong Kong Stock Exchange Listing Rules[62]. - The board consists of six executive directors and four independent non-executive directors, with at least one having appropriate professional qualifications[66]. - All independent non-executive directors have confirmed their independence, and the nomination committee has reviewed their independence annually[71]. - The company has adopted the standard code for securities transactions by directors, ensuring compliance by all directors for the fiscal year ending March 31, 2022[64]. - The board meets regularly, with all executive directors attending 100% of board meetings held during the year[68]. - The company has not appointed a CEO, believing the current management structure effectively supports operations and business development[69]. - The company provides ongoing professional development for directors, ensuring they are updated on regulatory changes and company operations[72]. Environmental, Social, and Governance (ESG) Initiatives - The company’s environmental, social, and governance (ESG) report aims to provide stakeholders with a clear understanding of its policies and performance[105]. - The company is committed to supporting national net-zero goals and will explore additional strategies to facilitate this transition[110]. - The company aims to reduce greenhouse gas emissions and waste generation through sustainable building strategies and material procurement[123]. - Several projects have received green building certification from the Hong Kong Green Building Council, reflecting the company's commitment to minimizing environmental impact[124]. - The company has implemented various measures to enhance information transparency and preparedness, including providing the latest financial reports and communications on its website[113]. - The company actively engages with stakeholders to understand their expectations and priorities regarding ESG matters[116]. - The company recognizes the importance of community support and corporate social responsibility in its operations[116]. Sustainability and Environmental Impact - The company achieved a significant milestone by converting most of its public area lighting to LED lights, contributing to its environmental goals[110]. - The company has reduced direct greenhouse gas emissions (Scope 1) from 42.58 tCO2e in 2020/21 to 35.92 tCO2e in 2021/22, a decrease of 16%[136]. - Indirect greenhouse gas emissions (Scope 2) decreased from 84.19 tCO2e in 2020/21 to 67.96 tCO2e in 2021/22, representing a 19% reduction[136]. - Total greenhouse gas emissions decreased from 138.08 tCO2e in 2020/21 to 114.42 tCO2e in 2021/22, a reduction of 17%[136]. - The company has implemented energy-saving measures, resulting in a 25% decrease in greenhouse gas emissions intensity per employee, from 1.32 tCO2e to 0.99 tCO2e[136]. - The company has installed electric vehicle charging stations to encourage residents to switch from gasoline or diesel vehicles to electric vehicles, thereby reducing greenhouse gas emissions[127]. - The company has adopted green procurement principles, prioritizing environmentally friendly products and services from suppliers with ISO 14001 certification[139]. Strategic Development and Projects - The luxury residential segment has performed well, with significant sales from the "Royal" project, which has been well-received by affluent local families[32]. - The company plans to launch multiple major residential pre-sale projects in the second quarter of 2023, targeting the mass market[32]. - The successful luxury residential project "Jin Yu Dong Hua" in Beijing has strengthened the company's market position, reflecting strong demand from the affluent class[39]. - The company has established a new joint venture with the Canada Pension Plan Investment Board for the redevelopment of the Novotel hotel project in Jordan, marking a significant strategic partnership[35]. - The group aims to enhance its investment portfolio in Central and is actively seeking redevelopment opportunities in existing commercial properties despite challenges from social restrictions[35]. - The company is expanding its residential land portfolio in the Northern Metropolis of Hong Kong, including a 400,000 square feet redevelopment project in Yuen Long and a 1 million square feet joint project in Kwu Tung, where the company holds a 40% stake[55].

* COUTURE 尚家生活地産 PROPERTIE 本 SAE 資本策略地產有限公司 CSI PROPERTIES LIMITED Stock Code 股份代號：497 INTERIM 202 公司資料 董事會 執行董事： 鍾楚義（主席） 簡士民 周厚文 方文彬 何樂輝 梁景賢 資本策略地產有限公司 獨立非執行董事： 林家禮 鄭毓和 石禮謙 (GBS, JP) 盧永仁 (JP) 審核委員會 鄭毓和（主席） 林家禮 石禮謙 (GBS, JP) 盧永仁 (JP) 薪酬委員會 鄭毓和（主席） 鍾楚義 林家禮 提名委員會 鍾楚義（主席） 林家禮 鄭毓和 執行委員會 鍾楚義（主席） 簡士民 周厚文 方文彬 何樂輝 梁景賢 公司秘書 簡士民 主要往來銀行 中國銀行（香港）有限公司 交通銀行股份有限公司香港分行 創興銀行有限公司 星展銀行（香港）有限公司 富邦銀行（香港）有限公司 恒生銀行有限公司 中國工商銀行（亞洲）有限公司 華僑銀行有限公司 東亞銀行有限公司 香港上海滙豐銀行有限公司 大華銀行有限公司 註冊辦事處 Clarendon House 2 Church Street Hamilton HM 11 Berm ...