Financial Performance - Revenue for the six months ended December 31, 2021, was HKD 16,304.2 million, an increase from HKD 14,232.5 million in the same period of 2020, representing a growth of approximately 14.5%[5] - Profit attributable to shareholders for the same period was HKD 1,595.3 million, compared to HKD 611.8 million in 2020, marking a significant increase of approximately 160%[5] - Operating profit for the period was HKD 2,326.3 million, down from HKD 3,336.3 million in the previous year, indicating a decrease of about 30.2%[5] - The adjusted EBITDA decreased by 19% to HKD 32.458 billion during the period[7] - The overall attributable operating profit of the group declined by 30% to HKD 23.263 billion, with core business attributable operating profit down 8% to HKD 21.415 billion[7] - Total comprehensive income for the period was HKD 7,849.5 million, significantly higher than HKD 4,484.4 million in the prior year[32] - The company reported a basic earnings per share of HKD 0.41, compared to HKD 0.16 for the same period in 2020, reflecting a 156.3% increase[31] Assets and Liabilities - Total assets as of December 31, 2021, amounted to HKD 157,240.4 million, an increase from HKD 152,572.9 million as of June 30, 2021[6] - Total liabilities decreased to HKD 92,407.8 million from HKD 94,118.9 million, showing a reduction of about 1.8%[40] - The net debt ratio improved to 13% from 25% in the previous period, showcasing a stronger financial position[6] - Total liabilities related to investment contracts amounted to HKD 10,250.6 million, reflecting the company's obligations in this area[66] - The total liabilities related to insurance and investment contracts amounted to HKD 46,982.7 million as of December 31, 2021[153] Dividends and Shareholder Returns - The interim dividend per share was set at HKD 0.30, slightly up from HKD 0.29 in the previous year, with a payout ratio of 74% compared to 185% in 2020[5] - The company paid dividends to shareholders totaling HKD 1,173.3 million, compared to HKD 1,134.3 million in the same period last year[49] - The board declared an interim dividend of HKD 0.30 per share for the fiscal year 2022, expected to be paid on April 7, 2022[178] Segment Performance - The contribution to attributable operating profit from Hong Kong operations was 42%, down from 48% in the previous year, while contributions from mainland and other regions were 41% and 17%, respectively[7] - The road business's attributable operating profit decreased by 9% to HKD 968.7 million, with traffic volume declining by 2% and toll revenue down by 7%[12] - The aviation segment's attributable operating profit remained stable at HKD 274.4 million, supported by the gradual recovery of domestic flights and global travel[14] - The construction segment's attributable operating profit decreased by 23% to HKD 407.5 million, impacted by intense competition and rising material costs[14] - The overall attributable operating profit contribution from the construction segment was HKD 4.075 billion, down 23% year-on-year[14] Cash Flow and Investments - The net cash generated from operating activities was HKD 4,599.5 million, a decrease of 15.7% from HKD 5,455.8 million in the same period last year[47] - The net cash used in investment activities amounted to HKD 2,571.4 million, compared to HKD 5,814.0 million in the previous year, indicating a significant reduction in cash outflow[47] - The group completed the sale of Xiamen Container Terminal Group and Suez Recycling, raising approximately HKD 6.2 billion for future investments[7] Financial Management and Risk - The company is actively identifying and mitigating risks, particularly in environmental, social, and governance areas[27] - The company's financial risk management policies have not changed significantly since the last fiscal year-end, maintaining a focus on market, credit, and liquidity risks[58] - The group’s financial risk management includes interest rate swaps and foreign exchange forward contracts to hedge against risks[173] Corporate Governance - The company has adopted the Corporate Governance Code as per the Listing Rules Appendix 14 and has complied with all applicable provisions during the period[182] - The company’s audit committee has reviewed the accounting principles and practices adopted during the period[186] - The company has ensured compliance with the standards set out in the Securities and Futures Ordinance regarding the interests of directors in securities[188] Strategic Outlook - The company remains committed to optimizing its business portfolio to enhance long-term value for shareholders[4] - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and customer service[1] - Future guidance indicates a positive outlook with expected revenue growth driven by increased demand in the aviation and insurance sectors[1]

Financial Performance - The company's revenue for 2021 was HKD 28,197.3 million, an increase of 24% compared to HKD 22,612.2 million in 2020[11]. - The attributable operating profit rose to HKD 5,225.9 million, up 49% from HKD 3,514.3 million in the previous year[11]. - The total assets as of June 30, 2021, were HKD 152,572.9 million, compared to HKD 150,052.0 million in 2020, reflecting a growth of 1.7%[12]. - The net debt ratio improved to 25% in 2021 from 31% in 2020, indicating a stronger financial position[12]. - The company declared a total dividend of HKD 0.59 per share, slightly up from HKD 0.58 per share in 2020, with a payout ratio of 201%[11]. - Cash and bank deposits decreased to HKD 10,804.6 million from HKD 13,221.8 million in the previous year[12]. - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous year[24]. - The company reported a net profit margin of 18%, up from 15% in the previous year[29]. - Shareholder returns are expected to increase, with a proposed dividend of $0.50 per share, reflecting a 25% increase from last year[28]. Growth and Expansion - User data showed a growth of 25% in active users, reaching a total of 5 million users by the end of the fiscal year[22]. - The company anticipates a revenue growth of 10% for the next fiscal year, projecting total revenues to reach approximately $1.1 billion[21]. - New product launches are expected to contribute an additional $200 million in revenue, with a focus on sustainable technology solutions[22]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[21]. - A strategic acquisition of a local competitor is in progress, which is expected to enhance the company's service offerings and customer base[22]. - The company has set a target to expand its market presence in Asia, aiming for a 30% increase in market share by 2025[32]. - Market expansion plans include entering two new international markets by Q3 2024[28]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million for potential deals[29]. Innovation and Technology - The company is focused on innovation and creating shared value with the community and stakeholders[10]. - Research and development expenditures increased by 20%, focusing on innovative technologies and product enhancements[21]. - A new partnership with a leading tech firm is expected to drive advancements in digital services, enhancing user experience[21]. - The company is investing in R&D for new technologies, allocating $F million to enhance product offerings and improve operational efficiency[24]. - The company is investing in new technology development, allocating $10 million for R&D in the upcoming year[29]. - The company has implemented various innovations, including the adoption of BIM technology to improve construction management and the introduction of a new reverse mortgage feature in life insurance products[133]. - The company is leveraging AI and related technologies to reduce traffic accidents and congestion, improving user experience on roadways[129]. Sustainability Initiatives - The company has set a goal to achieve carbon neutrality by 2025, aligning with global sustainability trends[22]. - Sustainability initiatives are being prioritized, with a commitment to reduce carbon emissions by I% over the next five years[27]. - The board emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[28]. - The company has committed to providing timely access to important information via its website[83]. - The company has established a sustainable development committee to oversee its environmental, social, and governance (ESG) initiatives, ensuring alignment with global reporting standards[140]. - The company has committed to gradually divest from investments in coal-fired power plants, aligning with its sustainable development goals[161]. - The group aims to reduce carbon intensity by 50% by the fiscal year 2030, with a current reduction of 56% achieved in the fiscal year 2021[167]. - The company has linked a total of HKD 3.8 billion in loans to its sustainable development performance, utilizing green financing tools since the fiscal year 2020[161]. Corporate Governance - The company adhered to all applicable provisions of the Corporate Governance Code in the 2021 fiscal year, except for provision E.1.2 regarding the attendance of the chairman at the annual general meeting[33]. - The board consists of 17 members with diverse professional knowledge and experience, contributing significantly to the company's committees[41]. - The company has implemented a formal nomination process for directors, ensuring that qualifications and backgrounds are thoroughly reviewed[42]. - The company has established a set of guidelines and policies for corporate governance, which are regularly reviewed by the board and relevant committees[38]. - The company has adopted a standard code of conduct for securities trading, ensuring compliance among all directors and employees[40]. - The board is responsible for overseeing the company's governance responsibilities, including the review of compliance with legal and regulatory requirements[39]. - The company provides appropriate liability insurance for directors to cover responsibilities arising from corporate activities[36]. - The company has established a disclosure committee to ensure consistent disclosure practices and compliance with applicable regulations[72]. Risk Management - The company has a robust risk management and internal control system in place, as outlined in its corporate governance manual[38]. - The company employs a three lines of defense model for its risk governance framework, clearly defining roles and responsibilities[97]. - The company integrates enterprise risk management into its operational and business planning to assist in achieving business objectives and sustainable growth[90]. - The company has established a comprehensive risk management framework that integrates risk assessment into business processes and decision-making[105]. - The company conducts regular risk assessments to compare identified risks against its risk tolerance levels, allowing for prioritized risk response strategies[106]. - The company has implemented a reporting system for stakeholders to confidentially report serious matters, including suspected fraud and misconduct[102]. - The company has established various policies, including a Climate Change Policy and a Sustainable Procurement Policy, to guide its operations and ensure adherence to sustainability principles[159]. Community Engagement - The group accumulated 102,000 hours of community volunteer service in the fiscal year 2021, contributing to the quality of life for 9.2 million beneficiaries[167]. - Over 4 million beneficiaries were reached in health improvement initiatives, with 202,000 beneficiaries in the fiscal year 2021[167]. - The company has conducted consultations with approximately 350 stakeholders to understand expectations regarding sustainable development initiatives[154]. - Stakeholder engagement included 250 internal stakeholders and 92 external stakeholders, ensuring diverse input on sustainability issues[168].

Financial Performance - Revenue for the six months ended December 31, 2020, was HKD 14,232.5 million, an increase of 26% compared to HKD 11,283.6 million for the same period in 2019[8]. - The attributable operating profit rose by 46% to HKD 3,336.3 million, compared to HKD 2,289.9 million in the previous year[8]. - The company's attributable operating profit increased significantly by 46% year-on-year, but the attributable profit to shareholders decreased by 60% to HKD 611.8 million due to non-operating losses[12]. - Adjusted EBITDA decreased by 4% to HKD 3,038.8 million compared to HKD 3,150.6 million in the previous year[13]. - The net profit attributable to shareholders was HKD 611.8 million, compared to HKD 903.3 million in the previous period, reflecting a decrease of 32.3%[76]. - Operating profit from continuing operations was impacted by a total of HKD 1,038.0 million in employee costs, down from HKD 1,226.4 million in the previous year, reflecting a decrease of 15.4%[111]. - The company reported a net loss from discontinued operations amounting to HKD 4.159 billion, affecting overall profitability[80]. Asset and Liability Management - The net asset value per share increased to HKD 15.32 as of December 31, 2020, up from HKD 14.69 as of June 30, 2020[9]. - The net debt ratio improved to 26% from 31% in the previous period, indicating a stronger financial position[9]. - The company reported a total asset value of HKD 23,590.7 million for the logistics segment and HKD 7,257.3 million for the aviation segment as of December 31, 2020[82]. - The total assets as of December 31, 2020, were HKD 5,909.6 million, up from HKD 4,251.7 million at the beginning of the period[71]. - The total liabilities for policyholder dividends and bonuses increased to HKD 3,509.3 million from HKD 3,334.3 million, reflecting a growth of about 5.3%[165]. - The group’s total liabilities increased to HKD 10,632.3 million as of December 31, 2020, compared to HKD 9,221.8 million as of June 30, 2020, marking an increase of 15.3%[145]. Dividends and Shareholder Returns - The interim dividend remained stable at HKD 0.29 per share, with a payout ratio of 185%, significantly higher than the 75% in the previous year[8]. - The company paid dividends amounting to HKD 1,134.3 million to shareholders during the period[48]. - The board declared an interim dividend of HKD 0.29 per share for the fiscal year 2021, expected to be distributed around April 14, 2021[190]. Investment and Strategic Initiatives - The company is committed to identifying new investment opportunities to enhance shareholder value and maintain a sustainable dividend policy[10]. - The company sold non-core assets for a total consideration of approximately HKD 3.6 billion, including the sale of its entire stake in New World First Bus Services Limited and Citybus Limited[11]. - A further sale of interests in Suez NWS Limited and Chongqing Derun Environment Co., Ltd. was announced for approximately HKD 6.5 billion, aimed at optimizing the business portfolio[11]. - The company plans to launch innovative insurance products, such as the "Yuxiang" deferred annuity plan targeting individuals aged 20 and above[28]. - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and drive future growth[76]. Segment Performance - The core business attributable operating profit reached HKD 2,322.2 million, a 13% increase from the previous year[11]. - The road segment's attributable operating profit rose by 12% to HKD 1,061.0 million, driven by a 9% increase in traffic volume and an 8% increase in toll revenue[15]. - The aviation segment maintained an attributable operating profit of HKD 271.7 million despite challenges from the COVID-19 pandemic[17]. - The insurance segment contributed HKD 462.4 million to the group's operating profit, representing a 188% increase year-on-year[20]. - The logistics segment maintained stable operating profit at HKD 336.3 million, with a 30% year-on-year increase in throughput to 2.513 million TEUs[23]. Financial Risks and Compliance - The group’s financial instruments are subject to various financial risks, including market risk, credit risk, and liquidity risk, with no significant changes in risk management policies since the last fiscal year-end[63]. - The group has maintained compliance with the Corporate Governance Code, except for the absence of the chairman at the annual general meeting[194]. - All directors confirmed compliance with the securities trading standards during the reporting period[195]. Market Outlook and Economic Conditions - China's GDP growth rate reached 2.3% in 2020, one of the fastest globally, despite ongoing COVID-19 challenges[28]. - The aviation industry is gradually recovering, with expectations of improved business conditions as domestic flights resume and travel bubbles are established[28]. - Future guidance indicates a focus on enhancing operational efficiency and exploring new technology developments to drive growth[86].

Business Operations - The group operates 15 toll road projects in mainland China, covering approximately 740 kilometers[6] - The business jet leasing segment owns, manages, and has committed to purchase a total of 233 aircraft[6] - The total value of contracts held by the construction segment is approximately HKD 52.6 billion[6] - The insurance segment, FTLife, has a solvency ratio of 542%, significantly above the regulatory minimum requirement of 150%[6] - The group completed the acquisition of FTLife Insurance, making it a core business segment[14] Financial Performance - Revenue for 2020 was HKD 25,920.5 million, a decrease of 3.4% from HKD 26,833.5 million in 2019[18] - Operating profit attributable to shareholders was HKD 3,514.3 million, down 25.4% from HKD 4,707.4 million in 2019[18] - Net debt increased significantly to HKD 17,733.9 million from HKD 10.5 million in 2019[18] - Total assets rose to HKD 150,052.0 million, compared to HKD 86,065.0 million in 2019[18] - Net asset value per share increased slightly to HKD 14.69 from HKD 14.64 in 2019[19] - The net debt-to-equity ratio was reported at 31%, a significant increase from 0% in 2019[20] - The dividend per share remained stable at HKD 0.58 for both 2020 and 2019[19] - The payout ratio surged to 896% in 2020, compared to 56% in 2019[20] Strategic Development - The company is focusing on strategic development and operational management to enhance overall performance[33] - Future outlook includes potential market expansion and new product development initiatives[33] - The company is actively seeking new business opportunities to enhance shareholder returns amid market uncertainties[16] - The company aims to leverage its solid foundation to achieve long-term sustainable growth by capitalizing on opportunities in the Greater Bay Area[16] Corporate Governance - The company reported a strong performance in the 2020 fiscal year, adhering to all applicable provisions of the Corporate Governance Code, except for E.1.2 regarding the attendance of the chairman at the annual general meeting[55] - The board of directors is committed to maintaining high levels of corporate governance to enhance shareholder value and balance stakeholder interests[58] - The management team is led by an executive committee, which is closely monitored by the board and is responsible for the company's performance against established business objectives[60] - The company has arranged appropriate liability insurance for its directors, which is reviewed annually to ensure adequate coverage[60] - The chairman and the CEO roles are clearly separated to ensure distinct responsibilities in managing the board and the company's operations[61] Risk Management - The company emphasizes the importance of effective risk management and internal control systems to achieve business objectives and sustainable development[136] - The company has established an enterprise risk management framework based on COSO and ISO international standards[137] - The enterprise risk management aims to assist the company in achieving strategic goals and optimizing risk-return decisions[138] - The board has established a risk appetite framework to balance risks and opportunities, ensuring the group's growth and development[139] - The group employs a three-line defense model for risk management, with clear roles and responsibilities defined[140] Sustainability Initiatives - The group has been selected as a constituent of the Hang Seng Corporate Sustainability Index for nine consecutive years, maintaining an overall rating of AA[12] - The company is gradually divesting from coal-fired power investments and increasing its focus on renewable energy projects to address climate change[182] - Over 87% of the company's projects are constructed according to green building standards or equivalent sustainable building criteria[183] - The company aims to accumulate over 20 million beneficiaries by 2030 to promote care and health as part of its social goals[181] - The company has developed new policies related to sustainability, including climate change and health and safety policies[99] Shareholder Communication - The company’s board recognizes the importance of effective communication with shareholders and has adopted a shareholder communication policy[116] - The company’s financial statements are prepared on a going concern basis, indicating sufficient resources for continued operation in the foreseeable future[112] - The company has established procedures for shareholders to propose resolutions at the annual general meeting, requiring written requests signed by relevant shareholders[128] - The company’s board is committed to ensuring fair and equitable treatment of all shareholders[127] Employee Engagement - The company hired over 1,200 new employees in the fiscal year 2020[187] - The flagship program "Create Career Path" has engaged over 7,200 participants since its launch in 2016[187] - The company held a seminar focused on climate risk to enhance employee awareness and has implemented various risk management plans since the 2020 fiscal year[177] Acquisitions and Partnerships - Recent acquisitions are expected to enhance the company's market position, with a combined revenue impact of $H million[40] - The company established a strategic partnership with Shanghai Shama Intelligent Technology Co., Ltd. to further develop AI applications for toll road and construction site management[183] - The company is enhancing its competitive advantage in the insurance sector by preparing for the upcoming "Insurance Connect" mechanism in the Greater Bay Area[174]

Financial Performance - For the six months ended December 31, 2019, the company reported revenue of HKD 13,215.5 million, a decrease of 6.8% compared to HKD 14,188.0 million for the same period in 2018[12]. - The profit attributable to shareholders for the same period was HKD 1,513.8 million, down 33.5% from HKD 2,274.3 million year-on-year[12]. - Basic earnings per share decreased to HKD 0.39, compared to HKD 0.58 in the previous year, reflecting a decline of 32.8%[12]. - The company achieved an operating profit of HKD 2,289.9 million, a 6% decrease from the previous year, while core business operating profit increased by 12% to HKD 2,048.1 million[17]. - The company reported a net loss of HKD 152.9 million from one-time special losses, compared to a net gain of HKD 180.8 million in the same period last year, significantly impacting shareholder profit[18]. - Shareholder profit decreased by 33% year-on-year to HKD 1.5138 billion, with basic earnings per share dropping to HKD 0.39 from HKD 0.58[18]. - The adjusted EBITDA grew by 24% to HKD 3.206 billion, reflecting strong business performance and contributions from new acquisitions[18]. - The company reported a profit of HKD 1,804.3 million for the six months ended December 31, 2019, a decrease of 21.2% compared to HKD 2,290.7 million for the same period in 2018[52]. - Total comprehensive income for the period was HKD 510.4 million, down 28% from HKD 708.7 million in the previous year[52]. Strategic Initiatives - The company completed the acquisition of FTLife Insurance in November 2019, contributing to the core business and enhancing growth potential[15]. - The company sold non-core assets, including shares in Beijing Capital International Airport, generating approximately HKD 910 million in cash for future business expansion[17]. - The company plans to continue optimizing its strategic portfolio and enhancing core competitiveness amid a challenging market environment[15]. - The company remains focused on sustainable long-term growth despite potential short-term impacts from external factors such as the COVID-19 outbreak[15]. - The company will continue to explore opportunities in the Greater Bay Area and develop toll road businesses in Central China[40]. Financial Position - The net debt amounted to HKD 17,504.0 million, with a net debt to equity ratio of 30%[13]. - The company has a committed bank credit line of approximately HKD 5.4 billion and total cash and bank deposits of HKD 12.5 billion, maintaining a solid financial position[18]. - The company's total assets increased to HKD 149,636.9 million as of December 31, 2019, compared to HKD 86,065.0 million as of June 30, 2019[54]. - Non-current liabilities rose significantly to HKD 44,557.3 million, up from HKD 15,089.3 million in the previous period[56]. - The company's cash and bank balances decreased to HKD 12,504.6 million from HKD 15,058.9 million[54]. - The company has significant investments in joint ventures amounting to HKD 14,087.9 million[54]. - The company’s total liabilities classified as current liabilities, including insurance and investment contract liabilities, amounted to HKD 59.225 billion, primarily due to the classification of total surrender values of HKD 192.91 billion as current liabilities[66]. Business Segments Performance - The core business generated an attributable operating profit of HKD 2.0481 billion, a 12% increase year-on-year, accounting for 89% of the group's total operating profit[22]. - The aviation segment's attributable operating profit increased by 16% to HKD 267.9 million, benefiting from the acquisition of Sky Aviation and fleet expansion[26]. - The road business recorded an attributable operating profit of HKD 949.6 million, with a 4% increase when excluding currency effects, driven by steady traffic growth[24]. - The environmental business's attributable operating profit decreased by 48% to HKD 233.1 million, primarily due to the absence of a one-time fair value gain from the previous year[33]. - The logistics business maintained stable performance with attributable operating profit reaching HKD 339.1 million, supported by a 6% increase in average rental rates and a high occupancy rate of 99.7%[35]. Insurance Operations - The insurance segment generated revenue of HKD 1,998.6 million, which was not present in the previous year's report[122]. - The total insurance contract liabilities amounted to HKD 32,710.3 million as of December 31, 2019, with HKD 4,718.5 million due within one year[105]. - The group maintains a solvency ratio above the regulatory requirement of 150%, ensuring sufficient surplus to meet unforeseen liabilities[108]. - The total premium for FTLife Insurance increased by 20% year-on-year, reaching HKD 8.709 billion by the end of 2019[43]. - The new business value profit margin for FTLife Insurance slightly decreased by 0.5% to 30.6% in 2019, primarily due to the low interest rate environment[43]. Market Conditions and Outlook - The global economic outlook remains uncertain due to the COVID-19 outbreak, despite signs of recovery in late 2019[40]. - The group anticipates varying degrees of negative impact on its different businesses due to the ongoing COVID-19 pandemic, but maintains a strong long-term outlook for its core operations[43]. Capital Management - The company has adopted new accounting standards, including HKFRS 16, which has impacted the classification of lease liabilities[69]. - The group has begun evaluating the impact of amendments to other standards, which may lead to changes in accounting policies and disclosures[76]. - The group’s capital management framework aims to identify risks and ensure adequate capital levels to support its insurance operations[108].