Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda 董事會進一步公佈，自二零二五年一月一日起，本公司於百慕達之股份登記過戶處已由 MUFG Fund Services (Bermuda) Limited，地址為 4th Floor North, Cedar House, 41 Cedar Avenue, Hamilton HM 12, Bermuda 變更為： 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致之 任何損失承擔任何責任。 (股份代號：617) 於百慕達之註冊辦事處及 股份登記過戶處之變更 Paliburg Holdings Limited（「本公司」）之董事會（「董事會」）公佈，自二零二四年十二 月三十日起，本公司於百慕達之註冊辦事處地址已由 4th Floor North, Cedar House, 41 Cedar Avenue, Hamilton HM 12, Bermuda 變更為： – 1 – ...

Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the first half of 2024[1]. - Revenue for the six months ended June 30, 2024, was HKD 1,392.0 million, a decrease of 13.1% compared to HKD 1,602.0 million for the same period in 2023[59]. - Gross profit for the same period was HKD 414.2 million, down 35.4% from HKD 641.8 million year-over-year[59]. - The net loss attributable to equity holders of the parent was HKD 1,021.3 million, compared to a loss of HKD 646.5 million in the prior period, representing a 57.9% increase in losses[61]. - The company reported a total comprehensive loss of HKD 1,073.6 million for the period, compared to HKD 817.7 million in the previous year[61]. - The pre-tax loss for the six months ended June 30, 2024, was HKD 676.3 million, compared to a loss of HKD 383.1 million for the same period in 2023[92]. User and Market Growth - User data showed a 20% increase in active users compared to the previous year, reaching a total of 1.2 million users[1]. - Market expansion plans include entering two new international markets by Q3 2024, aiming for a 5% market share in each[1]. - The total number of visitors to Hong Kong reached 21,200,000 in the first half of 2024, a year-on-year increase of 64.2%, with 16,100,000 visitors from mainland China[15]. Strategic Initiatives - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[1]. - New product launches are expected to contribute an additional $50 million in revenue by the end of the fiscal year[1]. - The company is considering strategic acquisitions to enhance its portfolio, with a budget of $30 million earmarked for potential targets[1]. - The board of directors emphasized the importance of sustainability in future business strategies, aligning with global trends[1]. Operational Challenges - For the six months ended June 30, 2024, the group recorded a consolidated loss attributable to shareholders of HKD 676.3 million, compared to a loss of HKD 383.1 million in the same period of 2023[10]. - The group's overall business operations maintained positive performance; however, the contribution from property sales significantly decreased due to a weakening real estate market in Hong Kong and mainland China[10]. - The company continues to face challenges in the operating environment, particularly in the real estate sector[10]. Financial Position and Cash Flow - The net cash flow from operating activities during the review period was HKD 21,000,000, a decrease from HKD 368,100,000 in the previous year[53]. - As of June 30, 2024, the group's cash and bank deposits totaled HKD 1,623,200,000, down from HKD 2,180,500,000 as of December 31, 2023[54]. - The group's debt, after deducting cash and bank deposits, was HKD 18,287,400,000, an increase from HKD 17,937,900,000 as of December 31, 2023[54]. - The debt-to-asset ratio as of June 30, 2024, was 48.1%, up from 45.0% as of December 31, 2023[54]. Property and Development Projects - The group has ongoing property development projects, including commercial/residential projects in Shau Kei Wan and a comprehensive commercial/residential redevelopment project on Castle Peak Road[13]. - The project at We Go MALL has a site area of 5,090 square meters (54,788 square feet) and a total gross floor area of 15,270 square meters (164,364 square feet), which has been generating stable rental income since its opening in 2018[29]. - The company is closely monitoring market conditions to plan the sale of remaining units in the luxury residential project, Regal Summit, which includes 4 garden houses and 81 apartment units[12]. Hotel Operations - The hotel business, operated by Regal Hotels International Holdings Limited, showed stable performance with an EBITDA of HKD 78 million, down from HKD 284.6 million in the same period last year, reflecting a year-on-year decline of approximately 72.5%[10]. - The average hotel occupancy rate increased from 80.0% in 2023 to 83.0% in 2024, with actual average room rates rising by 5.3%, leading to a 9.2% year-on-year increase in Revenue Per Available Room (RevPAR)[15]. - The hotel business in Hong Kong showed stable operational performance, with profit contribution from hotel operations (before depreciation) increasing by over 60% compared to the same period last year[14]. Financial Management - The company has entered into multiple interest rate swap transactions to convert part of its floating-rate bank loans to fixed rates, aiming to reduce financial costs in the short term[24]. - The interest expenses for the period amounted to HKD 593,500,000, compared to HKD 471,100,000 in the previous year[53]. - The company plans to continue selling non-core assets to enhance liquidity and financial strength amid a challenging macroeconomic environment[26]. Shareholding and Governance - The company holds 90,078,014 shares, representing approximately 74.55% of the issued shares[119]. - The company’s directors collectively own 740,860,803 shares, which is about 74.55% of the total issued shares[119]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, in conjunction with external auditors[129].

Financial Performance - The company reported a consolidated loss attributable to shareholders of HKD 676.3 million for the six months ended June 30, 2024, compared to a loss of HKD 383.1 million in the same period of 2023, representing an increase of 76.5%[2]. - Revenue for the six months ended June 30, 2024, was HKD 1,392.0 million, down 13.1% from HKD 1,602.0 million in the same period of 2023[1]. - Gross profit decreased by 35.5% to HKD 414.2 million from HKD 641.8 million year-on-year[1]. - EBITDA for the period was HKD 78.0 million, a decline of 72.6% from HKD 284.6 million in the previous year[1]. - The company’s core business reported a loss of HKD 347.4 million, an increase of 183.8% compared to a loss of HKD 122.4 million in the prior year[1]. - The group recorded a consolidated loss attributable to shareholders of HKD 1,599,200,000 for the six months ended June 30, 2024, compared to a loss of HKD 762,600,000 in the same period of 2023[10]. - The group reported a net loss attributable to shareholders of HKD 1,021.3 million for the six months ended June 30, 2024, compared to a loss of HKD 646.5 million in 2023[49]. - Total comprehensive loss for the period was HKD (1,073.6) million, up from HKD (817.7) million in the previous year, indicating a year-over-year increase of 31.3%[51]. - The basic and diluted loss per share for the six months ended June 30, 2024, was HKD (64.23) cents, compared to HKD (37.94) cents for the same period in 2023, indicating a worsening of 69.5%[50]. - The company reported a pre-tax loss of HKD 933.5 million, compared to a loss of HKD 610.1 million in the previous year[61]. Asset Management - The adjusted net asset value per share was HKD 14.00, down 4.4% from HKD 14.65 as of December 31, 2023[1]. - Non-current assets decreased to HKD 27,933.3 million as of June 30, 2024, from HKD 28,731.8 million as of December 31, 2023, reflecting a decline of 2.8%[52]. - Current assets also decreased to HKD 10,059.0 million from HKD 11,092.7 million, a reduction of 9.3%[52]. - The company's net asset value decreased to HKD 14,984.1 million from HKD 16,130.7 million, a decline of 7.1%[53]. - The total assets after deducting current liabilities remained at HKD 1,478.2 million as of June 30, 2024, indicating stability in asset management[57]. Market Conditions - The real estate market in Hong Kong and mainland China has weakened, significantly affecting property sales contributions compared to the first half of 2023[5]. - The luxury residential property market in Hong Kong showed resilience due to limited supply and increased demand from government policies, despite overall market pressures[8]. - The company is closely monitoring market conditions in Hong Kong and mainland China to implement plans for asset sales to enhance financial stability[4]. - The company anticipates continued challenges in the property market, impacting future revenue projections[61]. Revenue Streams - Revenue from property sales decreased to HKD 455.7 million from HKD 764.7 million, representing a decline of 40.4%[61]. - Hotel management and operation services revenue increased to HKD 808.7 million, up 14.2% from HKD 708.1 million[61]. - The net profit from property sales was HKD 77.0 million, significantly down from HKD 384.2 million in the previous year[64]. - Other income increased to HKD 112.2 million from HKD 39.0 million, driven by gains from the sale of properties and equipment[63]. Financing and Liabilities - The group's total liabilities as of June 30, 2024, amounted to HKD 18,287.4 million, up from HKD 17,937.9 million as of December 31, 2023[42]. - The asset-liability ratio increased to 48.1% as of June 30, 2024, compared to 45.0% as of December 31, 2023[42]. - The group's financing costs for the six months ended June 30, 2024, amounted to HKD 651.9 million, an increase of 24.9% compared to HKD 521.7 million for the same period in 2023[65]. - The group's interest expenses for the period were HKD 593.5 million, up from HKD 471.1 million in 2023[41]. Dividends and Shareholder Returns - The group did not declare an interim dividend for the fiscal year ending December 31, 2024[48]. - The group did not declare or pay any dividends for the six months ended June 30, 2024, consistent with the previous year[68]. Corporate Governance - The group’s management structure has not separated the roles of Chairman and CEO, which is a deviation from corporate governance guidelines[74].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% year-over-year growth[12]. - For the fiscal year ending December 31, 2023, the group achieved a gross profit of HKD 1,124,800,000, a decrease of 34.8% compared to HKD 1,724,900,000 in 2022[17]. - The EBITDA before depreciation, financing costs, and taxes was HKD 277,800,000, down 74.5% from HKD 1,086,400,000 in the previous year[17]. - The group recorded a consolidated loss attributable to shareholders of HKD 1,042,000,000 for the year, compared to a loss of HKD 217,700,000 in the previous fiscal year[42]. - Regal Hotels International reported a consolidated profit of HKD 265.7 million for the year ending December 31, 2023, down from HKD 929.9 million in 2022, primarily due to a significant increase in financial expenses related to bank loans[62]. - The core operating loss for Regal Hotels International was HKD 101.2 million in 2023, compared to a core operating profit of HKD 175.2 million in 2022, largely due to rising HIBOR rates[62]. User Engagement and Market Expansion - User data showed a 15% increase in active users, reaching 1.2 million by the end of the year[12]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[12]. - The company is exploring partnerships to further enhance its product offerings and market reach[12]. Future Projections and Guidance - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 15%[12]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[12]. - Future outlook remains cautious due to ongoing challenges in the real estate sector and rising financing costs[16]. Operational Efficiency and Cost Management - The company plans to implement cost-saving measures aimed at reducing operational expenses by 5% in the upcoming year[12]. - The company is focused on business development and sales promotion, with a strategic emphasis on enhancing operational efficiency[16]. Financial Challenges and Market Conditions - The increase in financing costs was significant due to a sharp rise in Hong Kong interest rates, particularly in the second half of the previous year[16]. - The group recorded an increase in losses for the review year, attributed to higher depreciation expenses for hotel properties in compliance with applicable accounting standards[16]. - The group's hotel operations continue to face challenges due to high interest rates, particularly in the second half of 2023, impacting overall financial performance[50]. Asset Management and Valuation - The total depreciation expense for the group's hotel portfolio in Hong Kong amounted to HKD 593,600,000, including HKD 123,400,000 for the new hotel, indicating a significant impact on financial performance despite no immediate cash flow effect[52]. - The adjusted net asset value per share as of December 31, 2023, was HKD 14.65, reflecting significant market valuation adjustments[44]. - The group experienced a fair value loss of HKD 770,900,000 related to its investment in Four Seas, reflecting a decline in market price as of December 31, 2023[39]. Investment and Development - The company maintains a focus on property development and investment, which may drive future revenue growth[72]. - The group plans to gradually sell remaining units in the luxury residential development project, 富豪‧山峯, which includes 3 remaining houses and 83 apartments[48]. - The company operates a hotel in Barcelona with 186 rooms, generating satisfactory rental income from a third-party operator[60]. Customer Satisfaction and Service Enhancements - Customer satisfaction ratings improved by 10%, reflecting the success of recent service enhancements[12]. - The average hotel occupancy rate in 2023 was 82.0%, an increase of 16.0 percentage points compared to 2022, while the average room rate rose by 30.7%, leading to a 62.3% year-on-year increase in RevPAR[58]. Accounting and Financial Reporting - The financial statements are prepared using consistent accounting policies across all subsidiaries, ensuring comparability and reliability of financial data[75]. - The company has not adopted any new accounting standards that would significantly impact its financial reporting, indicating stability in its financial practices[83]. - The acquisition method is used for business combinations, with the consideration measured at fair value on the acquisition date, ensuring transparency in financial reporting[87].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported a consolidated loss attributable to shareholders of HKD 1,791,900,000, compared to a loss of HKD 358,300,000 in the previous fiscal year, representing an increase in loss of 378.6%[2] - Revenue for the year was HKD 2,806.4 million, a decrease of 29.9% from HKD 4,003.7 million in the previous year[7] - Gross profit decreased by 34.8% to HKD 1,124.8 million from HKD 1,724.9 million year-on-year[7] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) fell by 74.4% to HKD 277.8 million from HKD 1,086.4 million in the previous year[7] - The company’s basic loss per share attributable to shareholders was HKD 1.01, compared to HKD 0.27 in the previous year, reflecting an increase of 274.1%[7] - The total comprehensive loss for the year was HKD 2,082.3 million, compared to HKD 672.5 million in 2022[83] - The group reported a net loss attributable to equity holders of HKD 1,663.1 million for the year, significantly higher than the loss of HKD 376.4 million in 2022[83] - The total revenue for 2023 was HKD 2,806.4 million, down from HKD 4,003.7 million in 2022, indicating a decrease of approximately 30%[120] Asset and Liability Management - The net asset value per share decreased by 12.8% to HKD 9.21 from HKD 10.56 year-on-year[7] - The group's total liabilities, after deducting cash and bank deposits, were HKD 17,937.9 million, compared to HKD 17,302.8 million in 2022, resulting in a debt-to-asset ratio of 45.0%, up from 41.4% in the previous year[66] - The company's total liabilities increased from HKD 15,881.6 million in 2023 compared to HKD 13,464.8 million in 2022, reflecting a significant increase in financial obligations[90] - The group's total assets, after adjusting for cash and bank deposits, were HKD 39,824.5 million, down from HKD 41,787.2 million in 2022[66] - Cash and cash equivalents decreased significantly from HKD 1,107.9 million in 2022 to HKD 567.2 million in 2023, a decline of approximately 48.8%[89] Property Development and Investment - The company’s property development and investment business is primarily conducted through P&R Holdings Limited, a joint venture with Regal Hotels International Holdings Limited[9] - The major luxury residential development project, Regal Mountain Peak, includes a total of 24 garden houses and 136 apartment units, with 4 houses and 8 apartment units sold during the year[9] - P&R has significant remaining units at the luxury residential development project, 富豪‧山峯, with 3 garden houses and 83 apartment units still available for sale[20] - New development projects include commercial/residential projects in筲箕灣 and 青山道, with significant ownership rights already secured[20] - The commercial portion of the development project includes a commercial complex of approximately 52,500 square meters and five office buildings totaling about 86,000 square meters, with construction progressing steadily[53] Market Conditions - The Hong Kong property market saw an increase in transaction volume over the past two months, with expectations of recovery as interest rates begin to decline[14] - The overall property prices and transaction volume in the Hong Kong residential market decreased compared to 2022[18] - 香港政府近期宣佈一系列支持性措施，預期將對豪華住宅市場帶來新需求[42] Financing and Costs - The company faced increased financing costs due to rising interest rates in Hong Kong, which negatively impacted financial performance[9] - Interest expenses for the year amounted to HKD 1,069.4 million, up from HKD 486.3 million in the previous year[65] - The company reported a significant increase in financing costs, with total financing costs amounting to HKD 1,220.8 million in 2023, compared to HKD 600.8 million in 2022[109] Corporate Governance - The company has adhered to the corporate governance code as per the Stock Exchange Listing Rules, except for the roles of Chairman and CEO not being separated[138] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[140] - The company is committed to maintaining high standards of corporate governance and transparency in its operations[141]

Hotel Operations - The hotel operations of the group showed encouraging performance in July and August, with average occupancy rates and average room rates gradually improving[1]. - The new hotel, which opened in April 2023, has a total of 1,208 rooms and has received multiple international design awards[16]. - Total customer contract revenue for the group was HKD 2,840,200,000, with significant contributions from property development (HKD 1,826,900,000) and hotel operations (HKD 984,200,000)[80]. Financial Performance - The net cash flow from operating activities during the review period was HKD 368.1 million, compared to HKD 357.8 million in 2022[27]. - The basic loss per share for the six months ended June 30, 2023, was HKD 383,100,000, compared to a profit of HKD 230,900,000 for the same period in 2022[69]. - Profit from property sales for the six months ended June 30, 2023, was HKD 384.2 million, a decrease of 46% compared to HKD 709.3 million for the same period in 2022[85]. - Total tax expenses for the six months ended June 30, 2023, amounted to HKD 36.4 million, down 74.3% from HKD 142.0 million in the prior year[86]. Asset and Liability Management - The group has a solid portfolio of quality assets, with diversified business scope and geographical coverage, and is confident in recovering as the overall economy is expected to rebound[3]. - As of June 30, 2023, the total value of properties, plants, equipment, investment properties, and financial assets amounted to HKD 30,714.7 million, a decrease from HKD 30,936.1 million as of December 31, 2022, representing a decline of approximately 0.7%[29]. - The non-current assets totaled HKD 28,850.0 million as of June 30, 2023, down from HKD 29,243.2 million as of December 31, 2022, indicating a decrease of about 1.3%[35]. - The company's total liabilities increased to HKD 23,324.7 million as of June 30, 2023, compared to HKD 23,054.0 million as of December 31, 2022, indicating a rise of about 1.2%[36]. Cash and Bank Balances - The company reported a cash and bank balance of HKD 963.3 million as of June 30, 2023, an increase from HKD 897.3 million as of December 31, 2022, reflecting a growth of approximately 7.4%[36]. - As of June 30, 2023, the group's cash and bank balances, along with time deposits, amounted to HKD 2,274,300,000, a decrease from HKD 2,372,300,000 as of December 31, 2022[54]. - Cash and bank balances as of June 30, 2023, totaled HKD 963.3 million, a slight decrease from HKD 977.9 million at the end of 2022[101]. Development and Sales - The sales of commercial units in the Chengdu project have reached approximately RMB 91.9 million (HKD 98.9 million), with 3,965 square meters (42,679 square feet) sold or contracted[21]. - The group is retaining eight houses in the "Richmond Garden" project for gradual sale[7]. - The sales plan for the remaining units in the four office buildings will be launched according to market conditions[22]. Corporate Governance - The company’s governance structure does not separate the roles of Chairman and CEO[182]. - The board has confirmed compliance with the trading code during the six months ending June 30, 2023[183]. - The audit committee consists of four independent non-executive directors, including Mr. Huang Zhiqiang as the chairman[187]. Financial Instruments and Fair Value - The fair value of listed equity investments is HKD 131.5 million, while the fair value of unlisted equity investments is HKD 41.1 million[153]. - The total fair value of financial assets measured at fair value through profit or loss is HKD 1,533.6 million, with HKD 216.5 million from listed equity investments[153]. - The company’s financial assets and liabilities' carrying amounts are similar to their fair values as of the reporting date[128]. Employee Compensation - The company employed approximately 1,710 staff in Hong Kong and China, with compensation levels consistent with market norms[32]. - The management compensation for the six months ended June 30, 2023, totals HKD 24.2 million, a decrease of 4.3% from HKD 25.3 million for the same period in 2022[124].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 (股份代號：617) 二零二三年中期業績公佈 財務及業務摘要 截至二零二三年 截至二零二二年 六月三十日止六個月 六月三十日止六個月 %轉變 (未經審核) (未經審核) 港幣百萬元 港幣百萬元 收入 1,602.0 2,917.9 -45.1% 毛利 641.8 1,344.7 -52.3% 減除折舊、融資成本 及稅項前之 經營業務盈利 284.6 1,009.0 -71.8% 核心業務之盈利/(虧損)★ (122.4) 483.8 不適用 母公司股份持有人 應佔盈利/(虧損) (383.1) 230.9 不適用 母公司股份持有人 應佔每股普通股 ...

Financial Performance - For the year ended December 31, 2022, the company recorded a consolidated loss attributable to shareholders of HKD 358.3 million, compared to a loss of HKD 494.4 million in the previous fiscal year[12]. - The company's core profit, excluding fair value changes, was HKD 175.2 million for 2022, down from HKD 267.8 million in the previous year[16]. - The company recorded a profit of HKD 4 million for the year, down from HKD 33.6 million in the previous year, primarily from property sales in Chengdu[25]. - The net cash flow from operating activities for the year was HKD 706 million, a decrease from HKD 716.2 million in the previous year[132]. - The net interest expense for the year was HKD 486.3 million, significantly higher than HKD 301.7 million in the previous year[132]. - As of December 31, 2022, the group's cash and bank deposits, along with time deposits, totaled HKD 2,372.3 million, down from HKD 3,033.6 million in the previous year[133]. - The debt-to-asset ratio as of December 31, 2022, was 41.4%, an increase from 38.3% in the previous year, with total liabilities amounting to HKD 17,302.8 million[155]. - The company’s financial performance and position for the year ended December 31, 2022, are detailed in the financial statements from pages 54 to 177[183]. Property and Investment Performance - The company's investment property portfolio generated a fair value gain of HKD 754.7 million, compared to HKD 309.3 million in the previous year, contributing to a total profit of HKD 929.9 million before distributions to fund unit holders[16]. - The average price of residential units in Hong Kong fell by over 15% during the year, marking the end of a decade-long upward trend in property prices[9]. - Regal Hotels International Holdings Limited's significant investments include hotel ownership, management, and property development through P&R Holdings Limited, which is a joint venture[75]. - The company has ongoing renovation projects in Lisbon, Portugal, and a historical building in London, which is yet to have a development plan finalized[23]. - The company operates a shopping mall named We Go MALL located in Ma On Shan, Hong Kong[63]. - The company has reported a comprehensive strategy involving asset management and property investment through its subsidiaries[75]. - The project covers a site area of 17,476 square meters (188,100 square feet) and has developed into a luxury residential complex with a total floor area of approximately 32,474 square meters (349,547 square feet), consisting of 136 apartment units and 24 garden houses[80]. - A total of 20 garden houses and 53 apartment units have been sold or contracted at a total sales amount of HKD 4,300,800,000, with 15 garden houses and 45 apartment units sold for HKD 3,422,300,000[80]. - The third phase of the property development has been completed, with total pre-sale and sales proceeds amounting to approximately RMB 2,046,200,000 (HKD 2,337,800,000)[94]. - The sales of commercial units in the third phase are ongoing, with 3,933 square meters (42,335 square feet) sold or contracted for a total sales amount of approximately RMB 90,900,000 (HKD 103,900,000)[95]. Hotel Operations - The company’s hotel operations resumed normal business following the end of mandatory quarantine requirements for inbound travelers in late September 2022[18]. - The basic rental income for three Regal Hotels in 2023 is set at HKD 92 million, an increase of approximately 13.6% from the previous year's total[20]. - The new hotel project at Hong Kong International Airport has been granted development rights, with a total of 1,208 rooms and suites planned, featuring sustainable design and operations[86][88]. - The hotel is set to officially open in April 2023 after a trial operation began in December 2021[88]. - The hotel project at 2 Yung Ka Street, Kowloon, has developed into a 20-story building with 288 guest rooms and opened in March 2019, currently operated by P&R and managed by the group[106]. - The hotel project near Hong Kong International Airport has a site area of approximately 6,650 square meters (71,580 square feet) and a total gross floor area of 33,700 square meters (362,750 square feet)[110]. Corporate Governance and Shareholder Information - No interim dividends were declared for ordinary shareholders for the year ended December 31, 2022, consistent with the previous year[164]. - The board has decided not to recommend the payment of a final dividend for the year ended December 31, 2022, similar to the previous year[184]. - Major shareholders include YSL Int'l, Grand Modern Investments Limited, and Century City, each holding 694,124,547 ordinary shares, representing 62.28% of the issued ordinary shares[197]. - Almighty International Limited holds 346,994,526 ordinary shares, accounting for 31.13% of the issued ordinary shares[197]. - Cleverview Investments Limited possesses 180,811,470 ordinary shares, which is 16.22% of the issued ordinary shares[197]. - Century City is owned 52.72% by Grand Modern, and its shareholding is included in Grand Modern's reported holdings[198]. - The company has no other disclosures required under the Listing Rules as of December 31, 2022[200]. Market Conditions and Economic Impact - The Hong Kong economy contracted by 3.5% in 2022, with external exports and domestic demand both declining[13]. - The group maintains a large investment portfolio, including investments in funds, private equity, and bonds, but recorded a net loss in its financial asset investment business due to a challenging market environment[126]. - The company is exploring alternative business and renovation plans for a historical property in response to recent market changes[143].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 (股份代號： 617) 二零二二年度集團全年業績公佈 財務及業務摘要 二零二二年度 二零二一年度 %轉變 港幣百萬元 港幣百萬元 收入 4,003.7 4,015.6 -0.3% 毛利 1,724.9 1,491.4 +15.7% 減除折舊及攤銷、 融資成本及稅項前之 經營業務盈利 1,086.4 606.1 +79.2% 母公司股份持有人應佔 年內虧損 (217.7) (397.5) -45.2% 母公司股份持有人應佔 ...

Financial Performance - Palliburg Holdings Limited reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the first half of 2022, representing a 15% growth compared to the same period last year[11]. - The company’s net profit for the period was HKD 300 million, reflecting a 20% increase year-on-year, driven by improved operational efficiency and cost management[11]. - For the six months ended June 30, 2022, the group achieved an unaudited consolidated profit attributable to shareholders of HKD 230.9 million, compared to a loss of HKD 136.4 million in the same period last year[21]. - Gross profit for the six months was HKD 1.3447 billion, compared to HKD 447 million in the previous year[22]. - Operating profit before depreciation, amortization, financing costs, and taxes was HKD 1.009 billion, up from HKD 243.3 million in the previous year[22]. - The company reported a profit attributable to equity holders of HKD 230.9 million, compared to a loss of HKD 136.4 million in the same period last year[126]. - The company recorded a total comprehensive loss of HKD 131.7 million for the period, compared to a loss of HKD 308.8 million in the same period of 2021, showing a reduction in losses[129]. - The financial position remains strong with total equity attributable to equity holders at HKD 19,060.5 million as of June 30, 2022, slightly down from HKD 19,294.6 million at the end of 2021[134]. Market Outlook and Expansion - Palliburg has outlined a positive outlook for the second half of 2022, projecting a revenue growth of 10% to 15% based on current market trends and demand forecasts[11]. - Palliburg plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[11]. - The company is exploring potential acquisition opportunities to enhance its portfolio and strengthen its competitive position in the market[11]. - The group aims to position itself favorably to seize potential opportunities as the Hong Kong tourism and hotel industry gradually returns to normal[63]. - The group plans to utilize internal funds and bank loans for property development projects in Hong Kong and China[110]. - The company plans to continue its market expansion and product development strategies in the upcoming quarters[138]. Operational Efficiency and Investments - The company is investing HKD 50 million in new product development, focusing on innovative solutions to enhance customer experience and operational capabilities[11]. - A new strategic partnership has been established with a leading technology firm to leverage advanced analytics and improve decision-making processes[11]. - The group is closely collaborating with hotel managers to develop new business and development strategies, including phased renovations of hotel properties[63]. - Future outlook includes continued investment in technology and new services to drive growth and improve operational efficiency[170]. Property Development and Sales - The significant improvement in performance was primarily due to increased profits from property sales and substantial growth in hotel operations revenue[21]. - Property sales profits were mainly derived from the sale of certain houses and apartments at the "Richmond Hill" development by P&R Holdings Limited and pre-sold residential units at the "Richmond International New City" project in Chengdu, China[21]. - Regal's major luxury residential development project, 富豪‧山峯, has sold 17 garden houses and 50 apartment units, with significant sales value remaining for future releases[27]. - Approximately 40% of the residential units in the 富豪國際新都薈 development project have been pre-sold, generating property revenue of HKD 342,800,000 during the review period[59]. - The group has completed various property development projects, with all residential units in certain projects sold out[73][76]. Hotel Operations - The hotel operations contributed significantly to Regal's revenue, with gross profit reaching HKD 621.2 million, up from HKD 82.1 million in the previous year[30]. - The average hotel room occupancy rate in Hong Kong increased from 56.0% in 2021 to 63.0% in 2022, with actual average room rates rising by 23.8%, leading to a 39.2% year-on-year increase in RevPAR[36]. - The newly opened Regal Airport Hotel achieved an average occupancy rate of 74.1% during the interim period, generating a net hotel profit of HKD 151.7 million[37]. - The average occupancy rate for the five Regal hotels in Hong Kong was 68.8%, up from 47.5% in the previous year, with average room rates increasing by 119.1%, resulting in a 217.1% improvement in average RevPAR[43]. - The Favour hotels achieved an average occupancy rate of 80.5%, with average room rates increasing by 177.3%, leading to a 207.0% year-on-year increase in average RevPAR[44]. Financial Position and Cash Flow - The group's cash and bank deposits amounted to HKD 2,061.1 million as of June 30, 2022, down from HKD 3,033.6 million at the end of 2021[114]. - The group's debt-to-asset ratio increased to 40.6% as of June 30, 2022, compared to 38.3% at the end of 2021[114]. - Net cash flow from operating activities for the review period was HKD 357.8 million, an increase from HKD 265.8 million in the previous year[113]. - The company incurred a net cash outflow from financing activities of HKD 1,212.6 million, compared to a net inflow of HKD 791.6 million in the previous year[143]. - The company’s cash and cash equivalents decreased by HKD 848.7 million during the period, compared to an increase of HKD 969.2 million in the previous year[152]. Economic and Market Conditions - The property market in Hong Kong saw a decline in prices and transaction volumes in the first half of 2022 compared to 2021, influenced by market uncertainties and rising interest rates[27]. - The economic outlook for Hong Kong remains cautious due to global economic events and the impact of the pandemic, with GDP contracting by 3.9% year-on-year in Q1 2022[32]. - The unemployment rate in Hong Kong improved from 5.1% in March to 4.7% in June 2022, indicating a recovery in the labor market[32]. - The overall GDP growth in China for the first half of 2022 was 2.5%, despite a slowdown in the second quarter due to COVID-19 outbreaks[55]. Sustainability and Corporate Responsibility - Palliburg's management emphasized the importance of sustainability initiatives, committing to reduce carbon emissions by 20% over the next five years[11]. - The hotel project is expected to incorporate sustainable development features and has received a preliminary gold rating in green building certification[83].