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]

Financial Performance - The company's profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3.595 billion, a decrease of 10% compared to HKD 3.990 billion for the same period in 2018[4] - The earnings per share for the period was HKD 2.47, a decline of 10% from HKD 2.75 in the same period last year[7] - The group's revenue for the six months was HKD 11.225 billion, compared to HKD 10.560 billion in the previous year, reflecting an increase in sales[7] - The gross profit for the period was HKD 4.995 billion, up from HKD 4.262 billion in the previous year[7] - The total comprehensive income for the period was HKD 4.024 billion, compared to HKD 4.906 billion in the previous year[8] - The company recorded a significant increase in profit attributable to shareholders before the impact of fair value adjustments, rising 103% to HKD 3.143 billion from HKD 1.552 billion[5] - The net profit for the six months ended June 30, 2019, was HKD 3,594,589 thousand, contributing to a total comprehensive income of HKD 4,024,105 thousand[18] - The group reported a profit of HKD 60,854,000 recognized in other comprehensive income for the six months ended June 30, 2019[31] Investment Properties - The net increase in the fair value of investment properties, after tax, was HKD 452 million, down from HKD 2.438 billion in the previous year[5] - The company’s investment properties rose to HKD 78,579,786 from HKD 74,228,117, an increase of about 5.0%[10] - The total fair value of investment properties as of June 30, 2019, was HKD 78,579,786,000, an increase from HKD 73,951,879,000 on June 30, 2018[32] - The group’s investment properties saw a fair value increase of HKD 499,724,000 during the first half of 2019[32] - The increase in fair value of investment properties for the six months ended June 30, 2019, was HKD 406,981, compared to HKD 3,386,745 in 2018[40] Cash Flow and Liabilities - Cash and bank balances decreased to HKD 13,690,473 from HKD 13,860,952, a decline of about 1.2%[11] - Net cash generated from operating activities for the six months ended June 30, 2019, was HKD 2,045,768, down 69.5% from HKD 6,687,521 in the same period of 2018[15] - Total liabilities increased to HKD 36,021,981 from HKD 35,439,213, reflecting a rise of approximately 1.6%[13] - The company reported a decrease in current liabilities to HKD 24,766,413 from HKD 23,803,928, indicating a reduction of about 4.0%[12] - The total liabilities as of June 30, 2019, were HKD 82,175,415, compared to HKD 80,776,918 as of December 31, 2018, showing an increase of about 1.7%[41] - The total bank loans as of June 30, 2019, amounted to HKD 35,968,054,000, an increase of 16.67% from HKD 30,766,560,000 as of December 31, 2018[63] Equity and Shareholder Information - The total equity increased to HKD 113,867,884 from HKD 110,941,673, marking an increase of approximately 2.7%[14] - As of June 30, 2019, total equity attributable to shareholders was HKD 99,780,081 thousand, an increase from HKD 97,540,964 thousand at the beginning of the year[18] - The percentage of equity held by directors in the company is approximately 0.31% for most directors, with specific holdings detailed[136] - Kerry Group Limited holds 859,531,055 ordinary shares, representing 59.02% of the company's equity[141] - The total number of issued ordinary shares of the company as of June 30, 2019, is 1,456,241,228[142] Property Sales and Revenue - The group’s property sales revenue reached HKD 2,427,419,000 for the six months ended June 30, 2019, slightly down from HKD 2,427,741,000 in the previous year[37] - The mainland property division recorded a revenue of HKD 7.914 billion, a 5% decrease from HKD 8.326 billion in 2018, attributed to reduced sales and rental income[70] - The Hong Kong property division recorded revenue of HKD 3.311 billion for the six months ended June 30, 2019, compared to HKD 2.234 billion in 2018, representing a year-on-year increase of 48%[104] - The sales revenue from completed properties in Hong Kong was HKD 2.717 billion for the first six months of 2019, compared to HKD 1.668 billion in 2018, marking a year-on-year increase of 63%[111] Occupancy Rates - The occupancy rate for the office properties in the mainland portfolio was 87% as of June 30, 2019[72] - The average occupancy rate for the Shangri-La Hotel at Jing'an Kerry Centre was 75% during the review period, compared to 77% in 2018[78] - The occupancy rate for the retail and office spaces at Pudong Kerry City was 100% as of June 30, 2019[79] - The average occupancy rate for the Beijing Kerry Centre was 84% during the review period, consistent with the rate in 2018[80] - The occupancy rate for the office building in Hangzhou Kerry Center was 96%, up from 82% on December 31, 2018, while the retail space occupancy rate was 93%, down from 94%[81] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code as of June 30, 2019[143] - The board of directors has confirmed compliance with the standard code of conduct for securities transactions during the six months ending June 30, 2019[143] - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending June 30, 2019[146] Employee and Stock Options - As of June 30, 2019, the group employed approximately 8,200 staff, with competitive salary levels and discretionary bonuses[128] - A total of 19,413,500 stock options were granted under the 2011 stock option plan, which aims to incentivize executives and key employees[129] - The total number of stock options available for exercise is 19,413,500 after accounting for 828,000 exercised and 260,000 expired[136]

Financial Performance - The company's revenue for 2018 was HKD 21,433 million, a decrease of 40% compared to HKD 35,548 million in 2017[8] - Gross profit for 2018 was HKD 9,003 million, down 8% from HKD 9,745 million in 2017, resulting in a gross margin of 42.0%[8] - Operating profit decreased by 11% to HKD 9,772 million in 2018 from HKD 10,938 million in 2017, with an operating margin of 45.6%[8] - Shareholders' profit before fair value changes of investment properties was HKD 3,345 million, a 50% decline from HKD 6,651 million in 2017[8] - The net profit attributable to shareholders after fair value changes was HKD 7,499 million, down 19% from HKD 9,242 million in 2017[8] - The earnings per share after fair value changes was HKD 5.16, a decrease of 19% from HKD 6.40 in 2017[8] - The group's profit attributable to shareholders for the year ended December 31, 2018, was HKD 7.499 billion, a decrease of 19% from HKD 9.242 billion in 2017[27] - The fair value increase of the investment property portfolio attributable to shareholders was HKD 4.154 billion for the year ended December 31, 2018, compared to HKD 2.591 billion in 2017[30] Debt and Equity - The company's net debt decreased by 23% to HKD 18,727 million from HKD 24,274 million in 2017[8] - The company's total equity increased by 3% to HKD 97,541 million from HKD 94,349 million in 2017[8] - The group’s total foreign currency loans (excluding RMB loans) amounted to HKD 3.338 billion, while RMB bank loans totaled HKD 5.568 billion, representing approximately 10% and 17% of the total borrowings of HKD 33.111 billion, respectively[121] - As of December 31, 2018, the group's debt-to-equity ratio was 19.2%, down from 25.7% in 2017, with net debt of HKD 18.727 billion against equity of HKD 97.541 billion[121] Dividends - The company declared a final dividend of HKD 1.35 per share, a reduction of 10% from HKD 1.50 in 2017[8] - The board proposed a final dividend of HKD 0.95 per share, totaling HKD 1.35 per share for the year[19] - The board proposed a final dividend of HKD 0.95 per share, totaling an annual cash dividend of HKD 1.35 per share for the year ended December 31, 2018, down from HKD 1.50 in 2017[31] Property Development and Sales - The total value of property assets reached HKD 1217.94 billion in 2018, with a 55% contribution from mainland China[17] - The company successfully launched residential projects in Shenzhen, Nanjing, Hangzhou, Shenyang, and Qinhuangdao, achieving expected sales prices[21] - The company acquired land in Fuzhou and Wuhan, as well as commercial land in Qianhai, to enhance its land reserves[22] - The company plans to launch the key project "Tian Shan" in Hong Kong, which is a low-density residential project[22] - Property sales in mainland China recorded revenue of HKD 7.516 billion with a gross profit of HKD 2.381 billion for the year, down from HKD 8.463 billion and HKD 2.659 billion in 2017 respectively[64] - Hangzhou Yunhe Ting project sold all 408 units in phase one and 550 units in phase two, with 98% of the 725 units in phase three pre-sold as of December 31, 2018[65] - Nanjing Jinling Yasun Residence sold 97% of its 429 units as of December 31, 2018[66] Investment Properties - The investment property portfolio is being expanded, with new developments in Shenyang and Jinan to enhance rental income[23] - The company aims to maintain a stable rental income by optimizing tenant structure and enhancing property management[24] - The group's revenue from completed investment properties in China for the year was HKD 3.686 billion, an increase of 7% from HKD 3.444 billion in 2017[41] - The overall occupancy rate for the group's properties as of December 31, 2018, was 88% for offices and commercial properties, consistent with the previous year[42] - The average occupancy rate for the Shanghai Jing'an Kerry Centre's office space was 99% as of December 31, 2018, up from 98% in 2017[48] Sustainability and Corporate Responsibility - The group plans to establish sustainable development goals for 2030 and has initiated pilot projects in Hong Kong for climate change risk assessment[26] - The group has been included in the Hang Seng Sustainable Development Index, reflecting its commitment to sustainable business practices[26] - The company aims to achieve a carbon intensity reduction target ahead of the 2020 goal, with plans for new targets by 2030[150] - The company has been included in the Hang Seng Sustainable Development Index for four consecutive years, ranking in the top 30 out of 93 constituents in 2018[165] - The company received the Sustainable Development Leader Award from the World Green Organization for the second time, highlighting its commitment to sustainable development[167] Governance and Management - The board consists of three independent directors, with two possessing appropriate professional qualifications in accounting and financial management[191] - The company has implemented a board diversity policy, details of which are included in the annual report[194] - The board's composition ensures a balanced distribution of power and authority among its members[190] - The company has received annual independence confirmations from all independent directors as per listing rules[191] - The company emphasizes the importance of continuous professional development for its directors[196]