Financial Performance - Total revenue for the first half of 2023 reached HKD 5.472 billion, an 18% increase compared to HKD 4.641 billion in the same period of 2022[5] - Basic profit attributable to shareholders was HKD 1.739 billion, a 15% increase from HKD 1.508 billion in the same period of 2022[9] - The net profit for the six months ended June 30, 2023, was HKD 2.03 billion, down from HKD 2.92 billion in the previous year, indicating a decline of 30.4%[67] - Basic earnings per share for the period was HKD 1.20, compared to HKD 1.89 in the same period last year[67] - The group reported a significant decrease in other comprehensive income, totaling a loss of HKD 3.46 billion for the period, compared to a loss of HKD 4.96 billion in the previous year[70] Revenue Sources - Property sales contributed HKD 2.123 billion, a 24% increase from HKD 1.714 billion year-on-year[5] - Hotel operations revenue surged to HKD 851 million, a 100% increase from HKD 425 million in the previous year, nearing 90% of pre-pandemic levels[10] - The group recorded total revenue of HKD 2.956 billion for the mainland property division in the first half of 2023, up from HKD 2.664 billion in the same period of 2022[29] - The Hong Kong property division recorded revenue of HKD 2.516 billion, up from HKD 1.977 billion in the same period last year, with a gross profit of HKD 966 million[38] Property Development and Sales - Contract sales amounted to HKD 8.170 billion, significantly up from HKD 3.098 billion in the first half of 2022[10] - The mainland property division achieved contract sales of HKD 6.595 billion for the six months ended June 30, 2023, primarily driven by the sales of the Hangzhou Fuyuan Court project[30] - Contract sales in Hong Kong totaled HKD 1.575 billion, including HKD 428 million from the high-end luxury project Tai Shan and HKD 737 million from the redevelopment project The Aster[39] - The gross profit margin for development property sales in the first half of 2023 was 22%, down from 48% in the same period of 2022, due to changes in the sales mix[29] Property Portfolio and Acquisitions - The total floor area of the property portfolio increased to 51.61 million square feet, up from 48.49 million square feet at the end of 2022[11] - The company acquired two quality projects in the first half of 2023, enhancing its property pipeline for future revenue[11] - The group has a total of 27.40 million sq ft of development properties, with 21.62 million sq ft in mainland China and 1.77 million sq ft in Hong Kong as of June 30, 2023[18] - The group has a pipeline of development properties that will add approximately 12.03 million sq ft of floor area in mainland China, including 6.27 million sq ft of office space and 4.61 million sq ft of retail space[24] Investment Properties and Rental Income - Rental income from investment properties (excluding hotel income) in the mainland reached HKD 1.920 billion, a 2% increase from HKD 1.883 billion in the same period last year[32] - The total rental income from investment properties in the mainland, including contributions from joint ventures, amounted to HKD 2.086 billion, a 3% increase from HKD 2.027 billion[32] - The overall occupancy rate for the retail portfolio stabilized at 81%, down from 83% as of December 31, 2022, while the office portfolio occupancy rate decreased to 85% from 88%[33] - The gross profit from investment properties was HKD 462 million, down from HKD 491 million in the first half of 2022[42] Financial Position and Debt - The total borrowings amounted to HKD 56.31 billion as of June 30, 2023, an increase from HKD 52.87 billion at the end of 2022[52] - Cash and bank deposits stood at HKD 16.47 billion, reflecting a 41% increase compared to the previous period[54] - The debt-to-equity ratio as of June 30, 2023, was 33.3%, slightly down from 33.6% as of December 31, 2022, calculated based on net borrowings of HKD 39.84 billion and total equity of HKD 119.48 billion[56] - The company actively manages its foreign exchange risk, with total foreign currency loans amounting to HKD 10.37 billion, which includes approximately HKD 7.24 billion in RMB loans[50] Corporate Governance and Compliance - The company has fully complied with the Corporate Governance Code during the six months ending June 30, 2023, except for the provision regarding the dual role of the Chairman and CEO[135] - The company has reviewed and updated its policies, including remuneration and dividend policies, to enhance corporate governance[141] - The Audit and Corporate Governance Committee held two meetings during the period to discuss financial reports and governance updates[141] - The board composition includes experienced individuals, with a majority being independent non-executive directors, ensuring balanced power distribution[143] Shareholder Information - As of June 30, 2023, the total issued ordinary shares of the company were 1,451,305,728[154] - Kerry Group Limited holds 874,090,494 shares, representing 60.23% of the company's ordinary shares[154] - The company announced an interim dividend of HKD 0.40 per share, totaling approximately HKD 581 million based on 1,451,305,728 shares issued as of June 30, 2023[191] - The interim dividend will be distributed on September 28, 2023, to shareholders listed as of September 18, 2023[190]

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。 二零二三年中期業績公告 嘉里建設有限公司（「本公司」連同其附屬公司統稱「本集團」）董事會（「董事會」）欣然公 布本集團截至二零二三年六月三十日止六個月之未經審核中期業績。本公司審核與企業管治 委員會在向董事會作出建議以待批准前，已召開會議審閱本集團截至二零二三年六月三十日 止六個月之業績及未經審核之簡明綜合中期財務報表。 二零二三年上半年 二零二二年上半年 百分比變動 百萬港元 百萬港元 收入 5,472 4,641 18% 物業銷售 2,123 1,714 24% 物業租賃及其他 2,498 2,502 - 酒店營運 851 425 100% 基礎溢利 (1) 1,739 1,508 15% 股東應佔溢利 1,739 2,747 -37% ...

Financial Performance - Total revenue for 2022 was HKD 14,590 million, a decrease of 4.8% from HKD 15,327 million in 2021[7] - Shareholders' profit attributable for 2022 was HKD 4,520 million, a decline of 28% from HKD 6,266 million in 2021[7] - Earnings per share (EPS) decreased to HKD 1.90 from HKD 7.11, representing a 73% drop[7] - The group recorded a total revenue of HKD 14.59 billion, a decrease of 4.8% compared to HKD 15.33 billion in the previous year[19] - The mainland property division recorded revenue of HKD 9.245 billion for the year ended December 31, 2022, down from HKD 10.250 billion in 2021, with a gross profit of HKD 4.887 billion, compared to HKD 6.334 billion in 2021[28] - The gross profit margin for development property sales decreased to 44% in 2022 from 62% in 2021, primarily due to changes in the sales mix across different cities[28] Property Sales and Leasing - Property sales increased by 2.1% to HKD 8,543 million, compared to HKD 8,371 million in the previous year[7] - Property sales contributed HKD 9.97 billion, including contract sales of HKD 5.35 billion from Hong Kong and the sale of two warehouses for HKD 4.62 billion[19] - The group's property leasing income was HKD 4.99 billion, down 6.6% from HKD 5.34 billion in the previous year[19] - The group provided rental concessions of HKD 150 million to tenants in Hong Kong and mainland China during the year[14] - The rental income from joint ventures and associates was HKD 300 million, down 11.5% from HKD 339 million in the previous year[38] Investment Properties - The company’s investment property portfolio comprises 16.31 million square feet, with 19% located in Hong Kong and 81% in mainland China[26] - The company expects to add 8.93 million square feet to its investment property portfolio from ongoing mixed-use projects in mainland China over the next five years[26] - The total area of the group's investment properties and hotel portfolio is expected to increase by 43% to 29.69 million square feet by 2027, enhancing the platform for recurring income[27] - The total consolidated rental income, including contributions from joint ventures and associates, was HKD 4.092 billion, down 6.8% from HKD 4.392 billion in the previous year[38] Debt and Financial Position - Cash and bank balances decreased by 33% to HKD 11,701 million from HKD 17,435 million in 2021[7] - Total borrowings increased by 41% to HKD 52,870 million, compared to HKD 37,479 million in the prior year[7] - The debt-to-equity ratio rose to 33.6% from 15.1% in 2021[7] - The total unused bank loan credit as of December 31, 2022, was HKD 28.875 billion, with cash and bank deposits at HKD 11.701 billion, representing a decrease of 17% and 33% respectively from the previous year[78] Sustainability and Corporate Social Responsibility - The group aims to achieve carbon neutrality and has set science-based carbon reduction targets[15] - The company raised HKD 17.035 billion through sustainable development-linked loan agreements in 2022[87] - The company achieved a five-star rating from CDP Sustainalytics, maintaining a low-risk rating[88] - Key sustainability issues identified for 2022 include climate change adaptation and energy efficiency[94] - 100% of investment properties completed climate risk and vulnerability assessments, showing progress towards sustainability goals[98] Corporate Governance - Kerry Properties fully complied with all provisions of the Corporate Governance Code in 2022[115] - The board of directors is composed of three executive directors and four independent non-executive directors, ensuring a diverse skill set and experience[116] - The company emphasizes high standards of corporate governance as critical for long-term success and sustainable development[115] - The board has established five committees to assist in fulfilling its responsibilities, including the Audit and Corporate Governance Committee[116] Employee and Community Engagement - Employee training rate increased to 98.6% from 96% in 2021[83] - 34% of senior positions are held by women, up from 31% in 2021[83] - Total donations amounted to HKD 12.1 million, down from HKD 22.6 million in 2021[85] - Over 550 community investment projects were conducted, an increase from over 400 in 2021[85] Market Conditions and Risks - The overall market conditions and the group's operational performance remain uncertain due to the impact of the COVID-19 pandemic, influenced by potential virus mutations and government measures[187] - The group faces intense competition and market volatility, which may negatively affect sales or profit margins due to price competition from new entrants and existing competitors[188] - Geopolitical situations, such as the Russia-Ukraine conflict, have led to trade restrictions and supply chain risks, potentially impacting the group's financial condition and operational performance[189] Future Development Plans - The company plans to continue land acquisitions and asset enhancement projects in key cities like Shanghai, Beijing, and Hangzhou[12] - The company plans to complete several projects in 2023 and beyond, including developments in Zhengzhou, Kunming, and Shenyang, contributing significant floor area to its portfolio[25] - New projects are being developed in cities like Hangzhou and Wuhan, contributing to future growth and market expansion[27]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 截至二零二二年十二月三十一日止年度全年業績 嘉里建設有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事會」）欣然公 布本集團截至二零二二年十二月三十一日止年度之綜合全年業績。本公司審核與企業管治委 員會在向董事會作出建議以待批准前，已召開會議審閱本集團截至二零二二年十二月三十一 日止年度之經審核綜合業績及財務報表。 截至二零二二年十二月三十一日止年度之業績重點： • 本集團錄得綜合收入 145.90億港元，按年下跌4.8%（二零二一年：153.27億港元）。 • 本集團錄得物業銷售總額 99.74 億港元，包括在香港及內地的合約銷售 53.54 億港元， 連同出售香港兩個貨倉之總代價46.20億港元。 • 本集團物業租賃收入為 49.91 億港元，與去年同期比較下跌 6.6%（二零二一年：53.44 ...

Financial Performance - The company recorded a consolidated revenue of HKD 4.64 billion, a year-on-year decrease of 27%[7] - The underlying profit, excluding fair value changes of investment properties, was HKD 2.79 billion, an increase of 18% year-on-year[7] - Total revenue for the first half of 2022 was HKD 4,641,295, a decrease of 27.2% compared to HKD 6,374,122 in the same period of 2021[52] - Gross profit for the first half of 2022 was HKD 2,547,223, down 30.4% from HKD 3,659,488 in the previous year[52] - The group reported a net profit of HKD 2,916,973 for the first half of 2022, a decline of 34.9% from HKD 4,483,893 in the same period of 2021[54] Property Sales and Revenue - Property sales amounted to HKD 7.72 billion, with contract sales in Hong Kong and mainland China contributing HKD 3.1 billion, representing 44% of the annual sales target[7] - The mainland property division recorded revenue of HKD 2.66 billion and gross profit of HKD 1.6 billion for the first half of 2022, a decrease of 28.5% and 32.5% respectively compared to the same period in 2021[20] - Contract sales in the first half of 2022 amounted to HKD 800 million, a significant decline of 87.1% compared to HKD 6.17 billion in the first half of 2021[20] - Revenue from completed properties in mainland China for the six months ended June 30, 2022, was HKD 356 million, a decrease from HKD 923 million in the same period of 2021[21] - The sales revenue from completed properties in Hong Kong for the first half of 2022 was HKD 1.36 billion, down 32.3% from HKD 2.01 billion in the previous year[33] Rental Income and Occupancy Rates - Rental income was HKD 2.5 billion, a decrease of 6% compared to the same period last year, with Hong Kong contributing 25% and mainland China 75%[7] - The company provided one-time rent concessions to assist tenants during the pandemic, resulting in rental income of HKD 1.88 billion, a decrease of 5.8% year-on-year[20] - The occupancy rate for the Shanghai Jing'an Kerry Centre was 94% as of June 30, 2022, down from 98% at the end of 2021[25] - The average occupancy rates for the group's hotels in mainland China as of June 30, 2022, showed significant declines compared to the previous year, with the Shanghai Pudong Kerry Hotel at 40.8% (down from 58%) and the Beijing Kerry Hotel at 71.25% (down from 54%)[27] - The occupancy rate for MegaBox was 91% as of June 30, 2022, down from 95% at the end of 2021[38] Investment Properties and Valuation - The company’s investment property portfolio valuation recorded a decrease of HKD 46 million, compared to an increase of HKD 1.41 billion in the same period last year[9] - The investment property and hotel portfolio totaled 15.36 million square feet, with 1.36 million square feet in Hong Kong (21%) and 12.18 million square feet in mainland China (79%) as of June 30, 2022[16] - The gross profit from investment properties was HKD 1.43 billion, compared to HKD 1.78 billion in the previous year[23] - The company reported a loss of HKD 119,078,000 in fair value changes for investment properties during the first half of 2022[78] - The fair value of investment properties totaled HKD 80,948,092,000, compared to HKD 83,823,976,000 as of January 1, 2021, reflecting a decrease of approximately 3.4%[78] Debt and Financial Position - The debt ratio increased by 1,860 basis points to 35.8% due to land acquisitions in Shanghai[8] - As of June 30, 2022, the group's total debt was HKD 575.9 billion, with 6% due within one year and 25% due in the second year[49] - The debt-to-equity ratio as of June 30, 2022, was 35.8%, significantly up from 17.2% at the end of 2021[50] - The company’s non-current bank loans increased to HKD 54,242,703 as of June 30, 2022, compared to HKD 32,210,214 at the end of 2021, marking an increase of approximately 68.4%[105] - The total liabilities as of June 30, 2022, were HKD 111,120,397, compared to HKD 95,231,319 at the end of 2021, reflecting an increase of approximately 16.7%[91] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.4 per share, unchanged from the same period last year[8] - The company paid out HKD 1,381,748,000 in dividends, slightly down from HKD 1,383,676,000 in the previous year[64] - Kerry Group Limited holds 60.12% of the company's ordinary shares, amounting to 874,090,494 shares[129] - The total issued ordinary shares of the company as of June 30, 2022, is 1,453,806,728 shares[129] - The company repurchased a total of 665,000 shares at a total cost of HKD 13,270,940 during the six months ended June 30, 2022[136] Corporate Governance - The company fully complied with the Corporate Governance Code during the six months ended June 30, 2022, except for the provision C.2.1 regarding the dual role of Mr. Guo as both Chairman and CEO[111] - The board composition includes experienced individuals, with half being independent non-executive directors, ensuring balanced power distribution[115] - The company has implemented measures to address identified monitoring weaknesses as per the internal audit reports[114] - The company aims to provide fair market compensation to attract and retain high-quality talent through its reviewed compensation policy[113] - The Audit and Corporate Governance Committee held two meetings, focusing on the annual financial report and the impact of the Covid-19 pandemic on the business[113]

Financial Performance - The group recorded consolidated revenue of HKD 6.37 billion, an increase of 63%[9] - The underlying profit, excluding fair value changes of investment properties, was HKD 2.36 billion, representing a 113% increase[9] - Profit attributable to shareholders was HKD 3.77 billion, up 251%[9] - Earnings per share increased to HKD 2.59, a 250% rise compared to the same period last year[9] - The fair value of the investment property portfolio increased by HKD 1.41 billion[9] - The company reported a total revenue of HKD 6,374,122, with a gross profit of HKD 3,659,488 for the six months ended June 30, 2021, compared to HKD 3,917,548 and HKD 2,395,384 in the same period of 2020[47] - Operating profit before financing costs was HKD 4,432,260, significantly up from HKD 1,712,152 in the previous year[47] - The company achieved a net profit of HKD 4,483,893 for the period, compared to HKD 1,163,252 in the prior year[48] Sales and Revenue - Contracted sales amounted to HKD 8.19 billion, achieving 61% of the annual sales target[9] - Property leasing income was HKD 2.66 billion, a 14% increase year-on-year[9] - The mainland property division recorded revenue of HKD 3.71 billion in the first half of 2021, a 56% increase from HKD 2.38 billion in 2020, driven by a 145% increase in sales from completed properties[25] - Contract sales in the mainland property division reached HKD 6.17 billion, achieving 78% of the annual target of HKD 7.9 billion[27] - The Hong Kong property division recorded revenue of HKD 2.66 billion for the six months ended June 30, 2021, up from HKD 1.54 billion in 2020[14] Investment Properties - The fair value increase of investment properties amounted to HKD 1,210,132, which is a significant factor in the overall financial performance[70] - The company’s investment properties had a net book value of HKD 85,490,420,000 as of June 30, 2021, compared to HKD 80,209,689,000 on January 1, 2020, reflecting a growth of approximately 6.4%[7] - The valuation of the investment property portfolio increased by HKD 1.41 billion as of June 30, 2021, compared to a decrease of HKD 0.32 billion in the same period of 2020[13] Dividends - The board declared an interim dividend of HKD 0.4 per share and a special dividend of HKD 2.3 per share following the partial offer and sale of Kerry Logistics shares[9][10] - The company expects to receive no less than HKD 11 billion from the partial offer, placement agreement, and special dividend declared by Kerry Logistics[11] Occupancy and Leasing - The occupancy rate for residential properties reached 94% as of June 30, 2021, compared to 83% at the end of 2020[18] - MegaBox's occupancy rate was 94% as of June 30, 2021, down from 99.9% at the end of 2020[21] - The average occupancy rate for the Jing An Shangri-La Hotel was 68%, significantly up from 30% in the previous year[33] - The occupancy rates for major properties include 97% for Jing An Kerry Centre and 100% for Pudong Kerry City[30] Development Projects - The company plans to launch the LA MARINA project in the third quarter and the second phase of the Tsing Shan project in the fourth quarter of 2021[14] - The LA MARINA project will provide 600 residential units with a total floor area of approximately 493,000 square feet, with pre-sales expected to start in Q3 2021[22] - The company plans to continue selling projects in Fuzhou, Zhengzhou, Hangzhou, and Shenyang in the second half of 2021, with a new project launch in Qinhuangdao[43] Financial Position - As of June 30, 2021, the company had total borrowings of HKD 429.5 billion, with 18% due within one year[44] - The debt-to-equity ratio was reported at 23.9% as of June 30, 2021, down from 25.1% at the end of 2020[44] - The total liabilities decreased from HKD 50,495,826 thousand to HKD 47,993,100 thousand, a decline of 4.9%[51] - The total equity increased from HKD 124,656,340 thousand to HKD 128,456,759 thousand, representing a growth of 3%[53] Share Options and Equity - The 2020 Share Option Plan was adopted on May 20, 2020, replacing the 2011 Share Option Plan, which has been terminated[96] - The total number of unexercised share options as of June 30, 2021, is 18,953,500, with 850,000 options having lapsed during the period[99] - Directors' equity in the company includes a total of 6,497,176 shares held by Guo Konghua, representing 0.45% of total equity[102] Corporate Governance - The company has complied with the Corporate Governance Code as per the listing rules during the six months ending June 30, 2021[112] - The board confirmed adherence to the standard code of conduct for securities transactions during the six months ending June 30, 2021[112]

Financial Performance - The company achieved a revenue of HKD 10.5 billion for the fiscal year, reflecting a year-on-year increase of 12%[6] - The net profit attributable to shareholders was HKD 3.2 billion, representing a growth of 15% compared to the previous year[6] - Revenue for 2020 was HKD 14,526 million, a decrease of 19% compared to HKD 18,025 million in 2019[7] - Gross profit for 2020 was HKD 8,387 million, down 7% from HKD 8,984 million in 2019, with a gross margin of 57.7%[7] - Operating profit decreased by 10% to HKD 7,572 million in 2020 from HKD 8,451 million in 2019, with an operating margin of 52.1%[7] - Shareholders' profit before fair value changes of investment properties was HKD 4,233 million, down 22% from HKD 5,396 million in 2019[7] - Basic earnings per share before fair value changes of investment properties was HKD 2.91, a decrease of 22% from HKD 3.71 in 2019[7] - The company achieved contract sales exceeding targets by 61%, totaling HKD 129 billion, a 45% increase year-on-year[8] - The company recorded a sales revenue of HKD 8.519 billion for the year ended December 31, 2020, down from HKD 11.161 billion in 2019[20] - The company’s net profit attributable to shareholders for the year ended December 31, 2020, was HKD 4.233 billion, a decrease of 22% compared to HKD 5.396 billion in 2019[11] Investment and Expansion Plans - Kerry Properties plans to expand its portfolio by acquiring additional properties in key urban areas, targeting a 25% increase in total assets over the next three years[6] - The company is investing HKD 500 million in new technology for property management to enhance operational efficiency and customer experience[6] - The company is exploring strategic partnerships for joint ventures in property development, aiming to leverage shared resources and expertise[6] - The company anticipates gradual recovery in the local economy following the control of the pandemic, with opportunities arising from developments in mainland China[12] - The company is focused on strategic expansion and new product development to navigate ongoing economic uncertainties[12] Sustainability Initiatives - The company has launched a new sustainability initiative aimed at reducing carbon emissions by 30% over the next five years[6] - The company achieved a four-star rating in the GRESB assessment and ranked fourth among diversified listed companies in East Asia[15] - The company is committed to enhancing health and sustainability in property development and operations[15] - The company has been recognized in the Hang Seng Sustainable Development Index, reflecting its commitment to sustainability[15] - The company has completed climate change risk and vulnerability assessments for all investment properties, achieving a completion percentage of 34.1%[129] - The intensity of greenhouse gas emissions has decreased by 15.7% compared to the fiscal year 2017[129] - The company aims to reduce the employee injury rate to 10 incidents per 1,000 employees, currently reporting 7.11 incidents per 1,000 employees[129] - The company has achieved LEED certification for multiple properties, including Platinum level for Shanghai Kerry City Phase III and Shenzhen Qianhai Kerry Center T1 and T2[164] Community Engagement and Social Responsibility - The company donated 7,000 masks to low-income families in Hong Kong, demonstrating its commitment to social responsibility during the pandemic[157] - The company provided food and daily necessities to vulnerable groups, including the homeless and low-income families, during the pandemic[143] - The company organized a charity walking challenge from October to December 2020, where employees could raise funds for designated charities by walking 10,000 steps daily[143] - The company actively collaborated with different charitable organizations to provide support to those in urgent need during the public health crisis[143] - The company increased charitable donations to approximately HKD 12 million, supporting over 100 charitable organizations in Hong Kong and mainland China[137] Operational Efficiency and Technology - The company is investing HKD 500 million in new technology for property management to enhance operational efficiency and customer experience[6] - The company introduced innovative technologies such as contactless elevator buttons, disinfection robots, and ultraviolet sterilization systems to enhance safety[139] - The company has arranged interest rate swap contracts totaling HKD 2.5 billion to hedge against interest rate risks[105] Market Outlook and Economic Conditions - Future guidance estimates a revenue growth of 10-15% for the upcoming fiscal year, driven by ongoing projects and market recovery[6] - The company expects steady economic growth in mainland China for 2021, while Hong Kong's outlook depends on the reopening of travel channels with the mainland[15] - The company remains cautiously optimistic about the recovery pace and growth in Hong Kong, closely monitoring the reopening of the mainland border and improvements in the business environment[102] Awards and Recognition - The company was named one of the "Top 10 Property Developers" in Hong Kong by the BCI Asia Awards, highlighting its commitment to sustainable development and green building practices[169] - The company received multiple awards in 2020, including recognition for community service and corporate governance, reflecting its commitment to integrity and social responsibility[176] - The company received the "Corporate Sustainable Development Award 2020," recognizing its efforts in maintaining good workplace practices and community engagement[183]

Financial Performance - The company's profit attributable to shareholders for the six months ended June 30, 2020, was HKD 1.074 billion, a decrease of 70% compared to HKD 3.595 billion in the same period of 2019[6]. - Earnings per share for the same period was HKD 0.74, down 70% from HKD 2.47 in 2019[9]. - Revenue for the six months ended June 30, 2020, was HKD 3.918 billion, a decline from HKD 11.225 billion in 2019, representing a decrease of approximately 65%[9]. - The operating profit before financing costs for the six months was HKD 1.712 billion, down from HKD 5.294 billion in 2019, a decrease of 68%[9]. - The net profit for the period was HKD 1.163 billion, compared to HKD 4.067 billion in the same period last year, reflecting a significant decline[10]. - Other income and gains for the period were HKD 257.4 million, down from HKD 407 million in 2019[9]. - The total comprehensive income for the period was HKD (484,350) thousand, compared to HKD 1,163,252 thousand in the previous year, indicating a significant decline[20]. - The group reported total revenue of HKD 3,917,548,000 for the six months ended June 30, 2020, down from HKD 11,224,606,000 for the same period in 2019, indicating a decline of approximately 65%[37]. - Gross profit for the same period in 2020 was HKD 2,395,384,000, compared to HKD 5,203,216,000 in 2019, representing a decrease of about 54%[37]. - The group recorded a significant decline in hotel operations revenue in Mainland China, totaling HKD 338,952,000 for the first half of 2020, down from HKD 964,955,000 in 2019[37]. Asset and Liability Management - Non-current assets increased to HKD 148,465,415 thousand from HKD 147,341,417 thousand year-on-year, reflecting a growth of approximately 0.76%[11]. - Current assets decreased to HKD 29,454,720 thousand from HKD 30,542,596 thousand, a decline of about 3.56%[12]. - Cash and cash equivalents decreased to HKD 10,420,487 thousand from HKD 12,860,889 thousand, representing a reduction of approximately 18.98%[19]. - Total equity attributable to shareholders decreased to HKD 99,836,484 thousand from HKD 101,704,510 thousand, a decline of approximately 1.83%[20]. - The company’s long-term bank loans increased to HKD 36,004,121 thousand from HKD 28,712,976 thousand, reflecting a rise of approximately 25.5%[15]. - The current liabilities decreased to HKD 16,977,719 thousand from HKD 19,835,482 thousand, a reduction of about 14.4%[14]. - The total bank loans as of June 30, 2020, amounted to HKD 40,221,059,000, an increase from HKD 37,207,093,000 as of December 31, 2019[59]. - The debt ratio of the group was 31.5% as of June 30, 2020, compared to 26.8% on December 31, 2019[115]. Market Conditions and Challenges - The company experienced a significant reduction in hotel asset income due to the impact of the COVID-19 pandemic[6]. - The company faced adverse market conditions due to quarantine and social distancing measures implemented in Hong Kong and mainland China[6]. - The company continues to face challenges in the market, as indicated by the significant declines in both revenue and profit metrics compared to the previous year[40]. - The office leasing market showed signs of weakness due to increased supply and geopolitical tensions, prompting the group to discuss lease restructuring with tenants[114]. - The group implemented rent relief measures for tenants affected by the pandemic, which helped maintain tenant relationships and improve renewal rates[114]. Investment Properties and Development - The fair value of investment properties decreased by HKD 0.32 billion, compared to an increase of HKD 0.452 billion in the previous year[6]. - The company’s investment properties decreased slightly to HKD 79,534,881 thousand from HKD 80,209,689 thousand, a decline of approximately 0.84%[11]. - The total valuation of investment properties as of June 30, 2020, was HKD 79,534,881,000, compared to HKD 78,579,786,000 as of June 30, 2019, reflecting an increase of HKD 955,095,000[32]. - The group recorded a decrease in the fair value of investment properties due to the impact of COVID-19, with total fair value adjustments amounting to a loss of HKD 168,859,000[32]. - The total investment property additions during the first half of 2020 amounted to HKD 409,448,000, compared to HKD 355,205,000 in the same period of 2019[32]. - The company plans to develop a large mixed-use complex in Wuhan, with a total planned floor area of approximately 4.4 million square feet[82]. - The group successfully acquired a residential and commercial land parcel in Hangzhou, covering approximately 1.06 million square feet, with a planned total floor area of about 2.4 million square feet for a mixed-use development[87]. Shareholder and Equity Information - The company declared an interim dividend of HKD 0.4 per share, consistent with the previous year[6]. - The diluted earnings per share for the six months ended June 30, 2020, was HKD 0.74, a decrease from HKD 2.47 in 2019, reflecting a significant decline in shareholder profit to HKD 1,073,933,000 from HKD 3,594,589,000[46]. - As of June 30, 2020, Kerry Group Limited holds 859,531,055 shares, representing 59.01% of the company's equity[131]. - The total number of issued ordinary shares as of June 30, 2020, is 1,456,501,228 shares[132]. - The company aims to attract and retain experienced individuals through the new share option plan[120]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code as per the listing rules during the six months ending June 30, 2020[133]. - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending June 30, 2020[136].

Financial Performance - Revenue for 2019 was HKD 18,025 million, a decrease of 16% compared to HKD 21,433 million in 2018[7] - Gross profit for 2019 was HKD 8,984 million, down 5% from HKD 9,468 million in 2018, with a gross margin of 49.8%[7] - Operating profit decreased by 14% to HKD 8,451 million in 2019 from HKD 9,772 million in 2018, with an operating margin of 46.9%[7] - The company's net profit attributable to shareholders for the year ended December 31, 2019, was HKD 5.396 billion, an increase of 61% from HKD 3.345 billion in 2018[16] - The group's profit attributable to shareholders for the year ended December 31, 2019, was HKD 6.897 billion, a decrease of 8% compared to HKD 7.499 billion in 2018[26] - Earnings per share before fair value changes of investment properties increased by 61% to HKD 3.71 in 2019 from HKD 2.30 in 2018[7] - Earnings per share (EPS) for the year was HKD 4.74, a decrease of 8% compared to HKD 5.16 in 2018[16] - The price-to-earnings ratio before fair value changes of investment properties was 6.7 in 2019, down from 11.6 in 2018[7] - The company's market capitalization as of December 31, 2019, was HKD 36,048 million, a decrease from HKD 38,927 million in 2018[7] Debt and Equity - Shareholders' equity increased by 4% to HKD 101,705 million in 2019 from HKD 97,541 million in 2018[7] - Net debt rose by 46% to HKD 27,286 million in 2019 from HKD 18,727 million in 2018[7] - The asset-to-liability ratio increased to 26.8% in 2019 from 19.2% in 2018[7] - The debt-to-equity ratio as of December 31, 2019, was 26.8%, calculated based on net debt of HKD 27.286 billion and shareholders' equity of HKD 101.705 billion[111] - The total amount of loans due within one year was HKD 8.494 billion (approximately 22%), while HKD 7.921 billion (approximately 20%) was due in the second year, and HKD 22.726 billion (approximately 57%) was due within the third to fifth years[111] Investment and Development - The total value of property assets was HKD 131.212 billion as of 2019[15] - The company successfully acquired residential and commercial land in Hangzhou, with a total construction area of approximately 2.4 million square feet[19] - The company plans to enhance its investment property portfolio to increase recurring income, focusing on prime locations in major cities[21] - The company has ongoing investment projects that will contribute to recurring income in the coming years, particularly in Qianhai[22] - The group aims for a contract sales target of approximately HKD 4.8 billion for new projects in 2020, representing 60% of the total contract sales target of HKD 8 billion[53] - The total floor area of ongoing projects in mainland China is approximately 21,825,583 square feet, with a total attributable area of 5,841,698 square feet[120] Property Performance - The group maintained a stable recurring income from its investment property portfolio despite economic slowdowns in mainland China and Hong Kong[33] - Revenue from the mainland property division decreased by 12% to HKD 11.739 billion, primarily due to an 18% decline in completed property sales[38] - The overall rental performance of the mainland investment assets remained stable[38] - The occupancy rate for the Shanghai Kerry Center Phase 1 was 97%, up from 96% in the previous year[41] - The average occupancy rate for the Shangri-La Hotel in Shanghai was 78%, consistent with the previous year[46] - The occupancy rate for the Beijing Kerry Center retail space increased to 94% from 85% year-on-year[47] Sustainability and Corporate Social Responsibility - The company aims to align its sustainability goals with the United Nations' Sustainable Development Goals (SDGs) by 2030[136] - The company has been recognized as an "ESG Leading Company" by Bloomberg Businessweek and received a "World-Class Corporate Sustainability Report" award[136] - The company participates in the CDP environmental information disclosure program to enhance transparency in environmental impact reporting[136] - The company has launched a "Community Care Program" that includes initiatives like food waste reduction through partnerships with NGOs, demonstrating a commitment to social responsibility[140] - Kerry Properties has committed to recycling at least 60% of construction waste on its sites and is reducing wood and bamboo usage in construction processes[152] Awards and Recognition - The company was awarded the "Corporate Sustainability Award" from the World Green Organization in October 2019, marking its fifth consecutive year of recognition[171] - The company received the "Corporate Social Responsibility Leader" badge by the Hong Kong Quality Assurance Agency, highlighting its commitment to social responsibility[172] - The company achieved the "Best Environmental Responsibility" award at the Asia Excellence Awards 2019, reflecting its commitment to environmental policies[167] - The company was recognized as one of the "Top 10 Property Developers" in Hong Kong by BCI Asia Awards in May 2019, highlighting its commitment to excellence in property development and management[173] Corporate Governance - The company complied with the corporate governance code and guidelines as per the Hong Kong Stock Exchange rules for the fiscal year ending December 31, 2019[189] - The board of directors held four meetings during the fiscal year, with all executive directors attending at least 75% of the meetings[191] - The company has three independent directors, with two possessing appropriate professional qualifications in accounting and financial management[194] - The company has implemented a board diversity policy and a nomination policy, details of which are included in the annual report[199]