Financial Performance - The group's total revenue for 2024 was HKD 21,000 million, a decrease of 5.5% from HKD 22,223 million in 2022[11]. - The property leasing segment generated revenue of HKD 331 million in 2024, down 6% from HKD 352 million in 2023[12][13]. - The property development segment saw a significant decline in revenue, dropping to HKD 23 million in 2024 from HKD 875 million in 2023, representing a decrease of 97.4%[14][15]. - The group reported a loss attributable to owners of HKD 2,492 million in 2024, compared to a loss of HKD 647 million in 2023[18][19]. - The group recorded revenue of approximately HKD 1,229,732,000 for the year ending December 31, 2024, representing an increase of about 211% compared to HKD 395,892,000 in 2023[40]. - The group reported a loss attributable to owners of approximately HKD 2,491,851,000 for 2024, an increase of 285% from HKD 646,511,000 in 2023[40]. - The net fair value loss of investment properties for 2024 was HKD 2,901 million, reflecting a year-on-year increase of 139%[41]. - The total transaction value of non-residential properties has decreased by approximately 10% despite a stabilization in sales volume over the past two years[41]. - The group’s investment properties primarily consist of commercial and industrial properties[40]. Asset and Liabilities - The group's net asset value decreased to HKD 15,677 million in 2024, down from HKD 18,460 million in 2023, reflecting a decline of 15.1%[22][23]. - The total assets decreased to HKD 17,975 million in 2024 from HKD 21,000 million in 2023[93]. - The company's cash and bank balances were HKD 1,150 million as of December 31, 2024, slightly up from HKD 1,138 million in 2023[98]. - The total borrowings decreased to HKD 1,360 million in 2024 from HKD 1,517 million in 2023, resulting in a capital debt ratio of 9% compared to 8% in the previous year[98]. - The net asset value as of December 31, 2024, was HKD 15,677 million, down from HKD 18,460 million in 2023, with a decrease in the net asset value per share from HKD 65.2 to HKD 55.3[96][97]. Market Conditions and Strategy - The rental income faced significant pressure due to market uncertainties, impacting the group's cash flow negatively[26]. - The group anticipates that the economic recovery in Hong Kong will remain sluggish in the short to medium term[41]. - The group is actively monitoring market conditions and adjusting strategies accordingly to navigate the current economic landscape[41]. - The group is adapting its marketing strategies to target younger consumers and mainland tourists in response to changing consumption patterns post-pandemic[26]. - The company plans to initiate construction on developable properties, entering a capital-intensive phase amid rising construction costs[27]. Property Development and Management - The group is focusing on enhancing its mini-storage services, launched last year, to meet the growing demand for storage space[26]. - The overall occupancy rate for the mini-storage business reached 80%, with some locations nearing 90% occupancy[73]. - The group's property management revenue for the year ending December 31, 2024, was approximately HKD 23.3 million, a 8% increase from HKD 21.5 million in 2023, but it accounted for only 2% of total revenue compared to 5% in the previous year[79]. - The company plans to expand its mini-storage services, including a new door-to-door mini-box service, which has already achieved over 60% rental rate[73]. - In 2024, the group's property development revenue primarily comes from the completion of unit sales in iCITY, with many sales agreements made in 2022 when the Hong Kong government introduced stamp duty measures to curb speculation[77]. Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules, emphasizing the importance of strong corporate governance for long-term growth[108]. - The roles of the chairman and CEO are not separated, with the chairman also overseeing the overall development strategy of the group[109]. - The company is committed to maintaining high standards of corporate governance to enhance corporate image and reduce fraud risk[110]. - The board has delegated various responsibilities to committees, including the audit committee, remuneration committee, and nomination committee, to ensure effective governance[111]. - The independent non-executive directors have confirmed their independence in accordance with the listing rules, ensuring compliance with governance standards[114]. Employee and Community Engagement - The total employee compensation for the year 2024 is approximately HKD 160,552,000, slightly up from HKD 160,542,000 in 2023, with no stock option expenses incurred during the year[106]. - The average number of employees in Hong Kong and mainland China for the year was 303 and 45, respectively, compared to 297 and 33 in 2023[106]. - The company emphasizes effective communication with shareholders to enhance investor relations, including regular updates and meetings to discuss business performance and strategies[144]. - The group contributed 467 hours of volunteer service and made approximately HKD 300,000 in cash and in-kind donations to support community initiatives[168]. - The company collaborates with community service centers to launch the "Morning Sun Ambassador" environmental volunteer program, enhancing corporate social responsibility efforts[196]. Environmental, Social, and Governance (ESG) Initiatives - The group has established a governance framework to enhance sustainability and has received multiple awards for its environmental, social, and governance (ESG) efforts, including the "Social Capital Power Award 2024" and "ESG Co-Creation Award 2024"[85]. - The group aims to achieve a 6% reduction in energy consumption intensity by 2027, aligning with its sustainability goals[168]. - The group reported greenhouse gas emissions of 3,925.79 tons of CO2 equivalent for the year[168]. - The company is committed to integrating ESG principles into its operations, guided by four core pillars: talent retention, environmental protection, community building, and customer service[179]. - The board conducts comprehensive annual risk assessments, identifying key ESG risks including employee health and safety, network security, and environmental compliance[199].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 1,230 million, a significant increase from HKD 396 million in 2023, representing a growth of 210%[2] - The gross profit for the year was HKD 701 million, compared to HKD 353 million in the previous year, indicating a gross margin improvement[3] - The net loss attributable to shareholders for the year was HKD 2,492 million, compared to a loss of HKD 647 million in 2023, reflecting a deterioration in performance[3] - The group's profit before tax showed a substantial loss of HKD 2,407,664,000 in 2024, compared to a loss of HKD 623,693,000 in 2023, indicating a deterioration in financial performance[21] - The loss attributable to the company's owners for 2024 was approximately HKD 2,491,851,000, an increase of 285% from HKD 646,511,000 in 2023[33] Assets and Liabilities - The total assets decreased to HKD 17,975 million from HKD 21,000 million, a decline of approximately 14.4%[2] - The total liabilities decreased to HKD 1,360 million from HKD 1,517 million, showing a reduction in debt levels[2] - The capital-to-debt ratio increased slightly to 9% from 8%, indicating a marginal increase in financial leverage[2] - The group's net asset value as of December 31, 2024, was HKD 15,676,741,000, down from HKD 18,459,862,000 in the previous year[83] - The total borrowings of the group as of December 31, 2024, were HKD 1,359,858,000, down from HKD 1,516,799,000 in the previous year[84] Revenue Sources - Revenue from property development, specifically from completed properties for sale, surged to HKD 875,054,000 in 2024, compared to HKD 22,729,000 in 2023, marking an increase of over 3,850%[15] - The group's property development revenue reached HKD 875,054,000, a significant increase of 3,750% compared to HKD 22,729,000 in the previous year, accounting for 71% of total revenue[58][60] - Rental income for 2024 was approximately HKD 331,379,000, a decrease from HKD 351,684,000 in 2023, accounting for 27% of total revenue compared to 89% in the previous year[43] - The group reported a decrease in rental income from property leasing, which fell to HKD 331,379,000 in 2024 from HKD 351,684,000 in 2023, a decline of about 6%[15] - Property leasing revenue for the year was HKD 478 million, reflecting a year-on-year decline of 10%[47] Expenses and Income - Other income and losses totaled HKD 71,721,000 in 2024, down from HKD 437,888,000 in 2023, reflecting a decrease of approximately 84%[15] - The group’s administrative expenses were HKD 59,462,000 in 2024, slightly reduced from HKD 61,296,000 in 2023[21] - The group’s interest income from loans receivable increased significantly to HKD 9,022,000 in 2024 from HKD 596,000 in 2023, representing a growth of approximately 1,414%[15] - The group’s depreciation expenses for right-of-use assets decreased to HKD 529,000 in 2024 from HKD 3,248,000 in 2023, a reduction of about 84%[24] Market Conditions - The company noted a significant decline in demand for premium retail space due to changing consumer preferences and economic conditions[37] - The mainland China real estate market remains in a correction phase, with new home sales significantly down compared to the previous year[62] - The average price-to-book (P/B) ratio for the real estate sector in Hong Kong has decreased by about 48% from the end of 2015 to the end of 2024[37] - The overall price index for private subdivided industrial properties in Hong Kong decreased by 18% from 880 in 2022 to 718 in 2024[60] - The average monthly rent for private retail properties in Hong Kong Island decreased by approximately 8% from HKD 1,265 per square meter in 2021 to HKD 1,165 per square meter in 2024[47] Future Plans and Strategies - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming year[3] - The group anticipates increased pressure on leasing operations in the coming years due to regulatory changes affecting older residential units[48] - The group plans to invest significantly in property development projects, with construction costs for certain projects expected to exceed HKD 2.2 billion[76] - The group aims to maintain its long-term strategic goals despite challenges in cash flow and potential difficulties in sustaining dividend levels[79] Corporate Governance and Compliance - The group has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which are held by the same individual[103] - The group confirmed that all directors complied with the standard code for securities trading during the year[104] - The annual performance announcement has been published on the company's website and the Hong Kong Stock Exchange website[106] - The 2024 annual report will be sent to shareholders in accordance with listing rules at an appropriate time[106] Employee and Membership Information - The total employee compensation for the year 2024 was approximately HKD 160,552,000, slightly up from HKD 160,542,000 in 2023, with an average of 303 employees in Hong Kong and 45 in mainland China[93] - The Soundwill Club saw a 16% increase in new membership, successfully boosting merchant sales[69] Dividends and Shareholder Information - The company did not declare any final or special dividends for the year, compared to HKD 0.20 and HKD 0.80 per share in 2023[2] - The board of directors did not recommend the distribution of a final dividend for the year ending December 31, 2024, compared to a final dividend of HKD 0.20 per share and a special dividend of HKD 0.80 per share in 2023[95] Miscellaneous - The group applied for a sale order for the property at the site of the Xi Yun Building with a reserve price of HKD 2,425,000,000, but no bids were received during the auction held on April 17, 2024[87] - The group has pledged investment properties and equipment with a total book value of approximately HKD 9,335,969,000 as collateral for bank financing as of December 31, 2024[91] - The group provided guarantees of approximately HKD 13,172,000 for mortgage loans obtained by property buyers as of December 31, 2024, down from HKD 40,220,000 in 2023[92] - The group has not conducted any purchases, sales, or redemptions of its listed securities during the year[98] - The group’s annual general meeting is scheduled for June 12, 2025, with a suspension of share transfer registration from June 9 to June 12, 2025[96][97]

| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | *僅供識別 / for identification only 2 3 20 23 25 27 28 2 公司資料 3 財務摘要 5 管理層討論及分析 20 綜合損益及其他全面收入表 23 綜合財務狀況表 25 綜合權益變動表 27 簡明綜合現金流量表 28 簡明綜合中期財務報表附註 目錄 金朝陽集團有限公司 主要銀行 中國銀行（香港）有限公司 香港上海滙豐銀行有限公司 恒生銀行有限公司 交通銀行股份有限公司 股份過戶登記總處 MUFG Fund Services (Bermuda) Limited 4th floor North Cedar House 41 Cedar Avenue Hamilton HM 12 Bermuda 獨立非執行董事： 陳啟能 浦炳榮 楊俊文 香港股份過戶登記分處 卓佳標準有限公司 香港夏愨道16號 遠東金融中心17樓 02 法律顧問 盧王徐律師事務所 Conyers Dill & Pearman 股份代號 878 公司資 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 SOUNDWILL HOLDINGS LIMITED 金朝陽集團有限公司 * （於百慕達註冊成立之有限公司） （股份代號：878） 截至二零二四年六月三十日止六個月之中期業績 財務摘要 | --- | --- | --- | |------------------------|-----------------------------------------------------------------|---------------------------------------------------| | | 截至六月三十日止六個月 \n二零二四年 （未經審核） 港幣百萬元 | 二零二三年 （未經審核） 港幣百萬元 | | 收益 | 1,030.1 | 212.3 | | 投資物業公平值虧損淨額 | (1,324) | (482.9) | | 本公司擁有人應佔虧損 | (974.8) | (34 ...

全體董事均有權可於所有時間查閱董事會文件、會議記錄及相關材料。年內，全體董事均獲提供本集團最新管理資 料，令彼等得知本集團之事務，協助彼等履行上市規則下之責任。 企業管治報告 審核委員會具有具體書面職權範圍，條文之嚴謹程度不遜於守則條文規定之條款。審核委員會負責聯同管理人員 審閱本集團所採納之會計原則與常規，並且討論審核、內部監控系統、風險管理、內部審核及財務申報事宜，包括 討論本公司之中期及全年業績。審核委員會亦擔任董事會與本公司外聘及內部核數師之中介橋樑，分別協商有關本 集團外部及內部審核工作範圍之事宜。為加強外聘及內部核數師取得記錄及知情之權利，以及與董事會有效直接溝 通從而不時報告其調查結果，外聘及內部核數師會獲邀出席審核委員會會議。 自吳志強先生於二零二三年三月八日離世後，薪酬委員會目前由兩名獨立非執行董事，分別為陳啟能先生及浦炳榮 先生，以及副主席兼執行董事陳慧苓小姐組成。 企業管治報告 | --- | --- | |---------------------|----------------------| | 薪酬委員會成員 | 出席╱舉行 \n會議次數 | | | | | 陳啟能先生 （主席） ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 截至十二月三十一日止年度 二零二三年 二零二二年 港幣百萬元 港幣百萬元 收益 396 478 * 僅供識別 SOUNDWILL HOLDINGS LIMITED 金朝陽集團有限公司 * （於百慕達註冊成立之有限公司） （股份代號：878） 截至二零二三年十二月三十一日止年度之全年業績 及 建議採納購股權計劃 財務摘要 | --- | --- | --- | |------------------------------------------------------------------------|---------------------------------------------|----------------------------------------| | 除所得稅開支及投資物業公平值 虧損淨額前溢利 投資物業公平值虧損淨額 | 589 (1,213) | 282 (464) | ...

目錄 3 財務摘要 5 管理層討論及分析 19 綜合損益及其他全面收入表 22 綜合財務狀況表 24 綜合權益變動表 26 簡明綜合現金流量表 27 簡明綜合中期財務報表附註 | --- | --- | |----------------------------------------------------|----------------------------------------| | 董事 | 主要銀行 | | 執行董事： | 中國銀行（香港）有限公司 | | 傅金珠 | 香港上海滙豐銀行有限公司 | | 陳慧苓 （副主席） | 恒生銀行有限公司 | | 陳慶達 （主席） | 交通銀行股份有限公司 | | 謝偉衡 | 股份過戶登記總處 | | 獨立非執行董事： | MUFG Fund Services (Bermuda) Limited | | 陳啟能 | 4th floor North Cedar House | | 浦炳榮 | | | 楊俊文 （自二零二三年六月十六日起 獲委任） | 41 Cedar Avenue Hamilton HM 12 Bermuda | | 公司秘書 | 香港股份過 ...

Financial Performance - The group recorded revenue of approximately HKD 478,376,000 for the year, a decrease of about HKD 90,515,000 compared to HKD 568,891,000 in the previous year, primarily due to the impact of COVID-19 on tenants' businesses and reduced rental income[9] - The company's revenue for the year ended December 31, 2022, was HKD 478 million, a decrease of 16% from HKD 569 million in 2021[30] - The loss attributable to the owners of the company was approximately HKD 268,201,000, a reduction of 66.8% from HKD 807,930,000 in the previous year, mainly due to a decrease in investment property valuation losses[11] - The loss attributable to the company's owners was HKD 268 million, compared to a loss of HKD 808 million in the previous year, representing a 66.8% improvement[30] - The total assets as of December 31, 2022, were HKD 22,223 million, slightly down from HKD 22,277 million in 2021[30] - The total borrowings decreased to HKD 1,775 million from HKD 1,872 million, indicating a reduction of 5.2%[30] - The cash and bank balances increased to HKD 1,394 million from HKD 1,137 million, showing a growth of 22.6%[33] Asset Management - As of December 31, 2022, the group's net asset value was HKD 19,175,634,000, down from HKD 19,541,700,000 in the previous year, with a net asset value per share of HKD 67.7 compared to HKD 69.0 previously[12] - The group completed the sale of several wholly-owned subsidiaries for a total consideration of HKD 95,300,000 during the fiscal year ending December 31, 2022[17] - The group entered into a sale agreement for the transfer of all issued shares of Linking Smart Limited for a consideration of HKD 3,208,815,000[15] Employee and Compensation - The average number of employees in Hong Kong and mainland China was 308 and 36, respectively, with total employee compensation for the year amounting to approximately HKD 141,455,000, an increase from HKD 128,540,000 in the previous year[5] - As of December 31, 2022, the gender ratio of employees in Hong Kong was 69% male and 31% female, with a target ratio of no more than 3:1 for male to female employees[180] - The group reported a gender distribution of 69% male and 31% female among its workforce[197] - Age distribution shows that 52% of employees are over 50 years old, while 9% are under 31[197] - The workforce consists of 69% general staff, 25% office staff, and 6% management[197] Corporate Governance - The group has adopted high standards of corporate governance to enhance corporate image and reduce fraud risk, which is crucial for long-term growth[7] - The company has engaged an independent professional firm for internal audit functions as required by the stock exchange[155] - The company confirmed that all directors complied with the standard code for securities trading during the year[154] - The company has implemented a policy for the accurate and secure handling and disclosure of inside information[156] - The group is committed to improving corporate governance practices to balance performance and regulatory compliance[200] Sustainability and Social Responsibility - The group aims to enhance its environmental management systems and set long-term carbon reduction targets for its properties[26] - The group received multiple awards for corporate social responsibility and environmental initiatives during the year[27] - The group has set long-term carbon reduction goals and enhanced governance transparency as part of its sustainable management strategy[100] - The group has actively identified ESG risks and opportunities to develop sustainability strategies and implement related policies[188] - The group has established a volunteer team to encourage employee participation in charitable activities, focusing on contributions to low-income families[190] Market and Economic Outlook - The overall economic environment remains uncertain, influenced by geopolitical risks and inflationary pressures[58] - The group anticipates gradual improvement in the operating environment as signs of economic recovery in Hong Kong emerge[59] - The group expects to benefit from government measures to revitalize the local tourism industry and the reopening of borders with mainland China, which may positively impact business revenue[97] - The rental business is expected to benefit from the easing of travel restrictions, leading to a recovery in the tourism and retail sectors[29] Business Strategy and Development - The company plans to continue focusing on local real estate market developments and land reserve expansion opportunities[28] - The group plans to continue expanding its land reserves through strategic acquisitions to enhance future development opportunities[60] - The group plans to focus on acquiring old properties in various districts to enhance investment in projects with appreciation potential[115] - The group aims to enhance competitiveness through innovative strategies, including advanced technology and improved service quality[82] - The group plans to continue diversifying its business and enhancing synergy among its operations to adapt to market conditions and seize investment opportunities[74] Risk Management - The group emphasized the importance of long-term sustainable risk management in response to ongoing global pandemic instability and extreme weather events[188] - The board has maintained effective risk management and internal control systems to protect shareholder investments and assets, with no significant internal control deficiencies identified for the year[179] - The group has conducted an annual risk assessment to identify strategic, operational, financial, and compliance risks, prioritizing them in the internal audit plan[178] Marketing and Customer Engagement - The group has implemented effective marketing strategies to boost tenant sales and foot traffic[71] - The active membership of the Soundwill Club mobile app showed significant growth, driven by the introduction of a new restaurant reservation feature[71] - The group is committed to enhancing customer privacy management, building quality construction, and improving cybersecurity to increase customer satisfaction and trust[190] Project Development - The new iCITY industrial development project in Kwai Chung received positive sales responses during its pre-sale phase[60] - The new industrial development project iCITY launched at the beginning of the year received positive market response, indicating strong demand for new developments[74] - The new 24-hour digital industrial landmark iCITY, located at 111 Dai Jeng Ping Street, Kwai Chung, will provide 601 workspaces with a building area of approximately 335 to 510 square feet, expected to be completed in Q4 2023[122] - The company anticipates that the easing of pandemic policies and improvements in the overall economic environment will positively impact the project market by the end of the year[122]

截至二零二二年十二月三十一日止年度之全年業績 及 建議採納經修訂及重列之公司細則 財務摘要 | --- | --- | --- | |------------------------------------------------------------------------|-----------------------------------------------------------|---------------------------------------------------------| | 除所得稅開支及投資物業公平值 虧損淨額前溢利 投資物業公平值虧損淨額 | 282 (464) | 331 (1,077) | | 除所得稅開支前虧損 | (182) | (746) | | 本公司擁有人應佔虧損 | (268) | (808) | | 每股基本虧損（以元計） | 港幣 (0.95) 元 | 港幣 (2.85) 元 | | 每股股息（以元計） — 建議末期股息 — 建議特別股息 | 港幣 0.20 元 — 於二零二二年 十二月三十一日 港幣百萬元 | 港幣 0.20 元 — 於二零二 ...

Knutsford Terrace INTERIM REPORT 6 笛 報 中 期 38 金 朝 陽 集 團 有 限 公 司 SOUNDWILL HOLDINGS LIMITED 於百嘉達註冊成立之有限公司 Incorporated in Bermuda with limited liability 股份代號 Stock Code : 0878 *僅供識別 / for identification only 98 N 目錄 2 公司資料 3 財務摘要 5 管理層討論及分析 18 綜合損益及其他全面收入表 21 綜合財務狀況表 23 綜合權益變動表 25 簡明綜合現金流量表 26 簡明綜合中期財務報表附註 02 金朝陽集團有限公司 公司資料 | --- | --- | --- | |----------------------------------|----------------------|--------------------------------------| | 董事 | 主要銀行 | | | 執行董事： | | 中國銀行（香港）有限公司 | | 傅金珠 （主席） | | 香港上海滙豐銀行有限 ...