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 會 就 因 本 公 佈 之 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。 ROAD KING INFRASTRUCTURE LIMITED 路勁基建有限公司* 本公司股東及有意投資者於買賣本公司證券時，務請審慎行事，概不可過度依賴上述資 訊。當有疑問時，投資者應尋求專業或財務顧問的專業意見。 ** 此數據乃根據截至二零二四年四月的資訊而編制（即本集團完成出售於路勁（中國）基建有限公司的 權益（包括於國內四條高速公路的投資）的時間）。 1 承董事會命 Road King Infrastructure Limited （ 路勁基建有限公司*） （於百慕達註冊成立之有限公司） （股份代號：1098） 截至二零二四年十二月三十一日止全年 未經審核營運數據 Road King Infrastru ...

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，概不會就因本公佈之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。 ROAD KING INFRASTRUCTURE LIMITED 路勁基建有限公司* （於百慕達註冊成立之有限公司） （股份代號：1098） 啟智行使贖回權 Road King Infrastructure Limited（路勁基建有限公司*）（「本公司」）董事會（「董事 會」）茲提述本公司日期為二零二二年十月六日的公佈（「該公佈」）及日期為二零 二二年十二月二十二日的通函（「該通函」），內容有關本公司全資附屬公司耀貴與 利基全資附屬公司啟智根據投資協議就該項目成立合資企業。除另有指明外，該公佈 所界定的所有詞彙與本公佈所用者具有相同涵義。 根據投資協議的條款，耀貴已同意，啟智有權要求項目公司於二零二五年二月二十八 日按參考預先協定的公式計算的贖回價贖回應付其的全部或部分銷售貸款（「贖回 權」），此後將進行若干平衡交易，從而使各合資方於項目公司的股權與向項目公司 所提供的股東貸款（包括路勁承擔）的比 ...

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 會 就 因 本 公 佈 之 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。 ROAD KING INFRASTRUCTURE LIMITED 路勁基建有限公司* （於百慕達註冊成立之有限公司） （股份代號：1098） 更改百慕達主要股份過戶登記處及轉讓登記處 及 香港股份過戶登記分處及轉讓登記處 Road King Infrastructure Limited（路勁基建有限公司*）（「本公司」）董事會（「董事 會」）宣佈，自二零二五年一月一日起，本公司於百慕達之主要股份過戶登記處及轉讓 登記處將更改為： Conyers Corporate Services (Bermuda) Limited Clarendon House, 2 Church Street Hamilton HM 11 ...

路勁基建有限公司* （於百慕達註冊成立之有限公司） （股份代號：1098） 嘉堅交回參與權 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，概不會就因本公佈之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。 ROAD KING INFRASTRUCTURE LIMITED 根據參與協議的條款，路勁地產須於接獲交回通知後的23個營業日內支付交回價。誠如 該公佈所述，倘交回價超過港幣284,897,000元（即本公司於參與協議日期就上市規則第 14A.76(2)條規定的最低限額而言的最高應付金額），則路勁地產可在其交付交回價的計 算結果後的三個營業日內首先向嘉堅支付港幣284,897,000元，並在本公司獲得按上市規 則當時規定的任何股東批准後的三個營業日內支付餘額。倘在股東大會上向股東提呈的 相關決議案未獲通過，則參與權將按比例減少，而有關剩餘參與權的交回通知將被視為 已失效。 - 1 - 基於目前可得資料，交回價預計約為人民幣9,600萬元。在此基礎上，無需就付款而進一 步獲得股東批准。倘最終釐定的交回價與上述估 ...

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 會 就 因 本 公 佈 之 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。 截至二零二四年九月三十日止九個月，印尼高速公路項目日均混合車流量為 87,400 架 次，較二零二三年九月三十日的數據輕微下降約 3%。 ROAD KING INFRASTRUCTURE LIMITED 路勁基建有限公司* （於百慕達註冊成立之有限公司） （股份代號：1098） 截至二零二四年九月三十日止九個月 未經審核營運數據 截至二零二四年九月三十日止九個月，高速公路項目路費收入為人民幣 18.13 億元 （其中 人民幣 6.07 億元**來自國內及人民幣 12.06 億元來自印尼），較二零二三年九月三十日的 數據下降約 39%。收入大幅下降主要歸因於於二零二四年四月完成出售於國內的四條高 速公路。儘管如此， ...

路 勁 基 建 有 限 公 司 (於百慕達註冊成立之有限公司) (股份代號 : 1098) 中期報告 2024 <<<moved 7mm 集團簡介 集團簡介 ii 路勁基建有限公司 00C240711704InsideCover.indd 2 2/9/2024 10:19 ROAD KING INFRASTRUCTURE LIMITED（路勁基建有限公司*） Road King Infrastructure Limited（路勁基建有限公司*）是一家在內地 及香港經營的前列房地產發展商，致力於發展優質住宅項目；亦是一 家從事投資及營運收費公路的先行者，在公路業務擁有逾30年經驗， 並於二零一九年成功進入東南亞市場，是內地和香港的高速公路公司 中，首家投資印尼高速公路並參與經營管理的企業。路勁現時持有的 房地產資產組合主要位於長三角地區、渤海灣地區及粵港澳大灣區， 土地儲備約295萬平方米。截至二零二四年六月三十日，收費公路項 目組合包括位於印尼的四條高速公路，皆位處主要的經濟區域，總里 程約335公里。 * 僅供識別 目錄 目錄 33 企業管治 34 權益披露 38 其他披露 43 集團資料 中期報告2024 ...

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，概不會就因本公佈之全部或 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。 ROAD KING INFRASTRUCTURE LIMITED 路勁基建有限公 司 * （ 於百慕達註冊成立之有限公 司） （ 股份代 號：1098） 截至二零二四年六月三十日止六個月 中期業績公佈 | --- | --- | --- | |--------------------------------------|-----------------------------------|---------------------------| | | | | | 摘要 | 截至六月三十日止六個月 二零二四年 | 二零二三年 | | 物業銷售額（包括合資及聯營企業項目） | 人民幣 73.04 億元 | 人民幣 156.87 億元 | | 物業交付額（包括合資及聯營企業項目） | 人民幣 221.35 億元 | 人民幣 186.44 億元 | | 高速公路項目路費收入 | 港幣 15.94 億元 ...

Property Management and Real Estate Market - The company manages approximately 26 million square meters of properties, primarily residential, with a stable cash flow despite low profit margins[1] - The company is ranked among the top ten in service quality for property management in 2023 according to third-party annual surveys[1] - The company anticipates a long-term demand for quality housing in China, estimating a market size of around RMB 8 trillion to RMB 10 trillion[5] - The company expects that the era of high leverage and rapid turnover in real estate is over, with a decline in bank lending ratios[5] - The real estate market continues to decline despite government intervention, with a noted decrease in total real estate sales from RMB 13 trillion last year to RMB 11 trillion this year[13] - The company recognizes the unpredictability of the market and the potential for gradual recovery in the real estate sector[6] - The company has faced challenges with cash flow, leading to difficulties in acquiring new land, with private developers securing less than 15% of land sales[13] - The outlook for the next two years is expected to be very challenging for the company and other developers in the market[14] - The company is exploring opportunities in property management as many small to medium developers face bankruptcy and may sell their management businesses[1] - The company has sold excess inventory below market value to improve cash flow and reduce debt[12] - The company acquired only two residential land plots in mainland China during the year, with a total floor area of approximately 90,000 square meters, reflecting a cautious approach to land acquisition[156] - The outlook for 2024 anticipates continued challenges in the mainland real estate market, with a cautious stance on land acquisition decisions due to market uncertainties[160] Financial Performance and Challenges - The total property sales for the year 2023, including joint ventures and associates, amounted to RMB 27.65 billion, with a total revenue of HKD 13.075 billion and a loss attributable to shareholders of HKD 3.962 billion[35] - The company reported a total property sales revenue of RMB 276.50 billion and toll revenue from highway projects of RMB 39.06 billion for the year 2023, totaling RMB 315.56 billion[69] - The company anticipates a tax loss of HKD 3.761 billion for the year 2023, with a loss attributable to shareholders of HKD 3.962 billion[69] - The company's total assets as of December 31, 2023, were HKD 18.866 billion, down from HKD 20.928 billion in 2022[21] - The net debt-to-equity ratio remains a significant concern due to substantial debt obligations that need to be addressed in the coming three years[27] - The group reported a loss of HKD 2.074 billion in its operations, which included interest costs and impairment provisions, with no signs of recovery in this business segment[135] - The gross profit margin fell from 17% in 2022 to a gross loss margin of 5% in 2023, primarily due to a significant decrease in sales volume and a depressed market atmosphere[136] - The group experienced a first-time gross loss of approximately HKD 648 million in 2023, driven by the need to reduce prices to secure cash flow amid a challenging market[136] - The group's equity decreased significantly by HKD 4.55 billion, with net asset value per share dropping by 22% to HKD 20.95[134] - The board decided not to declare dividends for at least the next two years due to significant losses and tight cash flow, prioritizing debt repayment[152] Toll Road and Infrastructure Revenue - The revenue from toll road projects in 2023 was RMB 1.477 billion, representing an increase of approximately 58% compared to 2022[28] - The company anticipates that the toll road revenue will see significant growth in 2024 and beyond, following recent toll rate increases[28] - The total traffic volume for the company's highway projects in mainland China and Indonesia reached 118 million vehicles, with an average daily traffic of approximately 362,300 vehicles, representing a 14% increase year-on-year[158] - The toll revenue for the highway segment was RMB 3.906 billion, an increase of 5% compared to the previous year, despite a decline in profit due to the termination of revenue-sharing rights for the Tangjin Expressway project[158] - Total toll revenue from domestic highway projects (excluding Tangjin Expressway) increased by 4% year-on-year to RMB 2.229 billion, with average daily mixed traffic volume rising by 18%[178] - The overall toll revenue, including Tangjin Expressway, decreased by 13% to RMB 2.429 billion, despite a 20% increase in average daily mixed traffic volume[178] - The company received cash distributions from highway partnerships amounting to HKD 501 million during the year[158] Strategic Initiatives and Future Plans - The company is focusing on optimizing personnel and simplifying operations due to a significant decline in existing projects[12] - The group plans to stabilize cash flow and ensure delivery by optimizing operational structure and reducing costs, while also considering necessary measures for debt management to protect stakeholder interests[75] - The group is actively managing cash flow to meet operational and debt repayment needs due to multiple overseas loans maturing in the next three years, with two loans due in the second half of 2024[75] - The group aims to complete various projects, including a residential development in Jiangsu with a development area of 28,000 square meters and a land area of 61,000 square meters, targeted for completion in 2024[83] - A significant project, "玖園," has a development area of 112,000 square meters and is expected to be completed by 2025, with a 95% interest allocation[89] - The group has ongoing projects in the Yangtze River Delta region, with a focus on residential properties, including "雲錦東方" with a development area of 117,000 square meters, targeted for completion in 2024[92] - The group is committed to enhancing its brand recognition and becoming a more widely acknowledged developer in the market[76] - The group is exploring various funding sources, including the sale of properties, to address cash flow challenges[75] - The group is focused on maintaining operational efficiency and ensuring project delivery as part of its long-term development strategy[76] Land Reserves and Acquisitions - The company holds land reserves of approximately 3.6 million square meters, primarily located in key economic regions[29] - The company's land reserves totaled approximately 3.57 million square meters, with 1.07 million square meters sold but not yet delivered as of December 31, 2023[156]

Financial Performance - Property sales amounted to RMB 27.65 billion in 2023, a decrease of 34.4% from RMB 42.02 billion in 2022[4] - Property delivery revenue reached RMB 31.65 billion in 2023, down 7.4% from RMB 34.20 billion in 2022[4] - The company reported a loss attributable to shareholders of HKD 3.96 billion in 2023, compared to a profit of HKD 0.50 billion in 2022[6] - Total revenue for the year ended December 31, 2023, was HKD 13,075,348,000, a decrease from HKD 17,155,976,000 in 2022, representing a decline of approximately 23.5%[40] - The company reported a total loss of HKD (3,760,547,000) for the year, compared to a profit of HKD 458,612,000 in the previous year[40] - The group reported total income of HKD 13,000,936 thousand in 2023, compared to HKD 17,073,281 thousand in 2022, reflecting a decline of around 24%[31] - The group’s total equity decreased by approximately 15% from the previous year, primarily due to reduced reserves[16] - The company’s basic loss per share for the year was HKD (5.29), compared to HKD (0.66) in the previous year[40] Assets and Liabilities - Total assets decreased to HKD 73.15 billion in 2023, down 18.8% from HKD 90.00 billion in 2022[7] - The company’s equity attributable to shareholders decreased to HKD 15.70 billion in 2023, down 22.5% from HKD 20.25 billion in 2022[4] - Total liabilities decreased from HKD 90,002,373 thousand in 2022 to HKD 73,146,313 thousand in 2023, representing a reduction of about 19%[16] - Non-current liabilities, including bank and other loans, decreased significantly from HKD 21,890,008 thousand in 2022 to HKD 12,753,149 thousand in 2023, a drop of approximately 42%[16] - The total assets of the group amounted to HKD 73,146,313,000, down from HKD 90,002,373,000 in 2022, indicating a decrease of approximately 18.7%[35] - Total liabilities decreased to HKD (45,948,649,000) from HKD (57,241,890,000) in 2022, reflecting a reduction of approximately 19.5%[35] Cash Flow and Financial Position - Cash and bank balances were HKD 5.48 billion in 2023, a decline of 33.0% from HKD 8.26 billion in 2022[7] - The net debt-to-equity ratio improved to 63% in 2023, down from 73% in 2022[4] - The group’s net current assets were HKD 14.166 billion as of December 31, 2023, compared to HKD 21.709 billion in 2022[77] - The group’s accounts receivable from customer contracts amounted to HKD 217.618 million in 2023, an increase from HKD 154.797 million in 2022[74] - The group repaid a total of HKD 11.051 billion in loans during the year, including a USD 343 million offshore bond and part of an offshore syndicated loan[148] Revenue Sources - Segment revenue from real estate development and investment was HKD 13,000,936,000, while toll road operations generated HKD 74,412,000 in revenue[33] - The group's revenue for the year primarily comes from the sale of completed residential properties and property management services[91] - The total revenue is derived entirely from customers in mainland China and Hong Kong, with no single customer accounting for more than 10% of total revenue in relevant segments[92][93] Market Conditions and Future Outlook - The group continues to face a challenging real estate operating environment, with financing difficulties for property companies unresolved and market confidence not fully restored[147] - The group anticipates a continued bottoming out of the mainland real estate market in 2024, with potential policy easing to support reasonable housing and financing needs[152] - The Hong Kong government plans to remove all residential property demand management measures in February 2024, which may stimulate buyer demand despite ongoing high interest rates[152] - The group plans to focus on expanding its investment in infrastructure projects and exploring new market opportunities[4] Operational Highlights - The group achieved property sales of RMB 27.65 billion and highway project toll revenue of RMB 3.91 billion for a total of RMB 31.56 billion for the year ending December 31, 2023[107] - The group plans to sell its entire mainland highway business for RMB 4.4118 billion, with an estimated after-tax gain of approximately HKD 1.5 billion expected to be reflected in the 2024 financial statements[111] - The group has successfully acquired four toll roads in Indonesia and will continue to seek reasonable investment return projects in the Asia-Pacific region in 2024[163] Employee and Cost Management - The total employee costs (excluding directors' remuneration) amounted to HKD 847,874, a decrease from HKD 1,018,688 in the previous year[96] - The total number of employees as of December 31, 2023, was 3,994, with employee expenses amounting to HKD 907 million[125] Accounting and Reporting Changes - The company has implemented revised accounting standards effective from January 1, 2023, impacting the preparation of its financial statements[10] - The group plans to apply the revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which may impact future financial reporting[52]

Financial Performance - In the first half of 2023, the company achieved property sales amounting to RMB 15.687 billion and toll revenue from highway projects of RMB 1.979 billion, totaling approximately RMB 17.666 billion, representing a 6% increase compared to the same period last year[24]. - The company recorded a loss of HKD 8.81 billion in the first half of 2023, with a loss attributable to shareholders of HKD 12.20 billion, resulting in a loss per share of HKD 1.63[24]. - The group reported a total revenue of RMB 6.277 billion for the first half of 2023, up from RMB 4.973 billion in the same period of 2022, marking a 26% increase[38]. - The net loss attributable to the company’s owners for the first half of 2023 was RMB 1.220 billion, compared to a profit of RMB 85 million in the same period of 2022[38]. - The company reported a total comprehensive income of HKD (1,073,614) for the period, reflecting a significant decrease compared to previous periods[157]. - The total comprehensive loss for the period amounted to HKD 1,073,614 thousand, compared to a loss of HKD 155,213 thousand in the same period last year[169]. - The company reported a loss of HKD 881,368 thousand for the period, compared to a profit of HKD 468,932 thousand in the previous year[169]. Real Estate Performance - The average selling price of properties in the real estate segment was RMB 20,800 per square meter, with the Yangtze River Delta and Bohai Bay regions accounting for approximately 53% and 36% of total sales, respectively[6]. - The gross profit margin for the real estate segment decreased to 12% due to declining property prices amid a continuing downturn in the real estate market[9]. - In the first half of 2023, the real estate division achieved property sales of RMB 15.187 billion, a 5.9% increase from RMB 14.340 billion in the same period of 2022[26]. - The total area sold in the first half of 2023 was 729,000 square meters, compared to 631,000 square meters in the first half of 2022, reflecting a 15.5% increase[29]. - The revenue contribution from the real estate projects in the Yangtze River Delta region was 54% of total sales, while the Greater Bay Area contributed 24%[38]. - The company signed sales contracts worth RMB 3.7 billion for the Zhu Lin No. 1 project, with an average residential price of approximately RMB 24,000 per square meter in the first half of 2023[2]. - The company plans to deliver approximately 23,000 square meters of the Zhu Lin No. 1 project in the second half of 2023[2]. Land Reserves and Acquisitions - As of June 30, 2023, the company's land reserves totaled approximately 4.3 million square meters, with 1.26 million square meters sold but not yet delivered[25]. - The total land reserve of the company is approximately 4.29 million square meters, with 89% designated for sale and 11% for investment purposes[64]. - The company acquired two residential land parcels in mainland China with a total floor area of approximately 89,000 square meters during the first half of 2023, in collaboration with strong enterprises to mitigate financial burdens[10]. - The land reserve in the Yangtze River Delta region accounts for 50% of the total land area, highlighting the company's focus on this key economic area[64]. Financial Position - The total assets of the group as of June 30, 2023, were RMB 82.089 billion, down from RMB 102.255 billion at the end of 2022[38]. - The group’s cash and cash equivalents stood at RMB 7.137 billion as of June 30, 2023, compared to RMB 10.370 billion at the end of 2022[38]. - The company’s equity attributable to owners decreased to RMB 18.856 billion as of June 30, 2023, from RMB 21.758 billion at the end of 2022[38]. - The company’s total liabilities as of June 30, 2023, were reported at HKD 30,959,767, reflecting ongoing financial obligations[157]. - The company’s equity attributable to owners decreased to HKD 5,141,120 as of June 30, 2023, from HKD 6,169,521 previously reported[157]. Project Development - The company aims to complete 40% of its projects by 2023, with significant developments in Jiangsu Province and the Yangtze River Delta region[51][53]. - The company has a target completion date for several projects in 2024, including residential developments in Jiangsu Province[74][76]. - The company has successfully entered the Southeast Asian market, being the first to invest in and manage highways in Indonesia since 2019[55]. - The company holds a 93.75% interest in the "Lujing Yuyuan" project, which has a development area of 28,000 square meters[66]. - The company has a total development area of 15,000 square meters for the project "Jinhuan" with a 50% attributable interest, targeted for completion by 2024[104]. Market Outlook - The company anticipates that the real estate market in mainland China will continue to stabilize, with expectations for increased land supply in the second half of 2023[14]. - The management indicated that the real estate market is expected to stabilize in the second half of 2023, supported by government policies aimed at boosting buyer confidence[26]. Financial Management - The company maintains a robust financial policy, focusing on managing liquidity risks and ensuring sufficient cash flow[147]. - The company is actively monitoring interest rate risks associated with its borrowings in RMB and USD[149]. - The company has adopted the corporate governance code for securities transactions as per the listing rules[150].