Financial Performance - Shareholders' profit for the year ended December 31, 2022, was HKD 21,683 million, an increase of 3.6% from HKD 21,241 million in 2021[2] - Earnings per share for 2022 was HKD 5.98, up from HKD 5.77 in 2021, reflecting a growth of 3.6%[3] - The group reported a net cash position of approximately HKD 12.6 billion after deducting borrowings as of the year-end closing date[12] - The group's total revenue for 2022 was HKD 56,341 million, a decrease of 9.2% from HKD 62,094 million in 2021[63] - The group's net profit for the year was HKD 21,963 million, slightly up from HKD 21,943 million in 2021, reflecting a stable performance[64] - The group's continuous business profit for 2022 was HKD 19,627 million, down from HKD 20,824 million in 2021, a decrease of 5.7%[67] Dividends - The proposed final dividend for 2022 is HKD 1.85 per share, which, combined with the interim dividend, results in a total annual dividend of HKD 2.28 per share, an increase of 3.6% from HKD 2.20 in 2021[4] - The company declared an interim dividend of HKD 0.43 per share for 2022, up from HKD 0.41 per share in 2021[63] - The proposed final dividend for 2022 is HKD 1.85 per share, compared to HKD 1.79 per share in 2021, reflecting a 3.4% increase[63] Property Sales and Revenue - The total property sales revenue for the year was HKD 25.756 billion, a decrease of 31.8% from HKD 37.798 billion in 2021[23] - The property sales segment generated HKD 25,706 million in 2022, down from HKD 37,760 million in 2021, indicating a significant decline of 31.9%[66] - Property sales contributed HKD 10,303 million in 2022, down from HKD 18,127 million in 2021, representing a decrease of 43.5%[67] - The property sales breakdown by region for 2022 shows Hong Kong at HKD 14.511 billion, Mainland China at HKD 9.916 billion, and overseas at HKD 1.329 billion[24] Rental Income - The total rental income for the year was HKD 5.843 billion, down from HKD 6.693 billion in 2021, reflecting a decrease of 12.7%[28] - The total revenue from property leasing in 2022 was HKD 4,580 million, compared to HKD 5,541 million in 2021, reflecting a decline of 17.4%[67] - Rental income decreased due to the sale of the 5 Broadgate property in London, but the group remains confident in the demand for prime office space in central business districts[7] Business Strategy and Operations - The group strategically exited the aircraft leasing industry and reinvested the proceeds into real estate projects, enhancing its property portfolio[5] - The group plans to continue seeking quality infrastructure and utility investments globally, having successfully monetized part of its stake in Northumbrian Water[10] - The group is focused on sustainable green residential and working spaces as a core aspect of its global business strategy[12] - The group is actively seeking opportunities while maintaining a prudent financial management approach to enhance recurring income and asset resilience[12] Environmental and Governance Initiatives - The group aims to reduce greenhouse gas emissions, water and electricity consumption, and waste paper by 2030, with a commitment to achieve net-zero emissions by 2040 for Greene King and between 2027 to 2050 for other subsidiaries[11] - The group has received an "A" rating from MSCI for its environmental, social, and governance (ESG) performance in 2022, recognizing its green building initiatives[11] - The company has established a strong corporate governance framework, adhering to the principles outlined in the Corporate Governance Code, with a focus on high-quality board composition and transparency to shareholders[56] Acquisitions and Sales - The group successfully acquired four redevelopment projects in Kowloon, covering a total area of approximately 58,534 square feet, with an estimated total buildable area of about 526,807 square feet[17] - The group completed the sale of Accipiter Finance S.à r.l. and Manchester Aviation Finance S.à r.l. for a total cash consideration of approximately USD 2.44 billion (approximately HKD 189.21 billion) and USD 1.84 billion (approximately HKD 142.58 billion)[17] - The group entered into an agreement to sell a 25% stake in Northumbrian Water Group Limited and Northumbrian Services Limited for a total cash consideration of £86.7 million (approximately HKD 8.07 billion)[18] Employee and Management - The group employed approximately 55,000 staff, with employee costs (excluding directors' remuneration) amounting to HKD 12.09 billion for the year[51] - The company has a dedicated Remuneration Committee, primarily composed of independent non-executive directors, to oversee executive compensation and align it with shareholder interests[58] Market Outlook - The group anticipates stable growth in the Hong Kong economy in 2023, despite external challenges, supported by national policies[12] - The group expects no significant impact from the new IFRS standards effective from January 1, 2022, and is currently assessing the impact of upcoming standards[72]

Financial Performance - The company's profit attributable to shareholders for the six months ended June 30, 2022, was HKD 12,936 million, a 58% increase from HKD 8,355 million in the same period of 2021[3]. - Earnings per share for the same period rose to HKD 3.55, compared to HKD 2.25 in 2021, reflecting a 58% increase[4]. - The group reported a total equity of 1,688,741,093 shares, representing approximately 46.34% ownership by Li Ka Shing and related parties[60]. - The total comprehensive income for the period was HKD 11,627 million, compared to HKD 10,225 million in 2021, reflecting a 13.8% increase[123]. - The group’s profit attributable to shareholders for the six months ended June 30, 2022, was HKD 12,936 million, compared to HKD 8,355 million in 2021, marking a 54.5% increase[132]. - The group’s earnings before tax for the six months ended June 30, 2022, were HKD 11,351 million, compared to HKD 9,735 million in 2021, reflecting a 16.6% increase[133]. Dividends and Share Repurchase - The board declared an interim dividend of HKD 0.43 per share, up from HKD 0.41 per share in the previous year, representing a 5% increase[5]. - The company repurchased 6,561,500 shares for a total consideration of HKD 341.38 million during May and June 2022[19]. - The interim dividend declared is $0.43 per share, totaling $1,564,000,000, an increase from $1,494,000,000 in 2021[135]. Property Sales and Revenue - The company continues to expand its property sales, with revenue from Hong Kong property sales increasing compared to the previous year, driven by easing pandemic restrictions[8]. - Property sales revenue for the first half of the year was HKD 20.40 billion, up from HKD 14.79 billion in 2021, primarily driven by sales from the Sea to Sky residential units and Century Plaza in Shanghai[22]. - The group anticipates property sales in Hong Kong to reach HKD 8.34 billion and in mainland China and overseas to reach HKD 4.58 billion for the remainder of 2022[24]. Financial Position and Cash Flow - The group maintains a strong financial position with ample cash flow and rigorous financial discipline, allowing it to explore new projects[7]. - The group holds a net cash position of approximately HKD 13.9 billion after deducting borrowings, reflecting strong financial discipline and resilience in a challenging market environment[16]. - The group’s cash and cash equivalents stood at HKD 59,793 million, down from HKD 63,365 million at the end of 2021[124]. - The group reported a net cash inflow from operating activities of HKD 8,123 million for the six months ended June 30, 2022, compared to a net outflow of HKD 2,758 million in 2021[127]. Market Conditions and Economic Outlook - The global economic recovery remains uncertain due to inflationary pressures and interest rate hikes, impacting business operations[6]. - The group anticipates economic recovery in mainland China, while local economic performance in Hong Kong is expected to be impacted by the pandemic and global economic conditions[15]. - The ongoing COVID-19 pandemic continues to impact business operations and consumer behavior, potentially affecting the company's financial performance[89]. Strategic Investments and Expansion - The company is actively seeking quality property investments to optimize its portfolio and enhance stable income and long-term asset value[9]. - The group is focused on increasing land reserves through various strategies, including land bidding, to develop quality property projects[8]. - The group is expanding into global quality investments to enhance cash flow quality and strengthen fixed income bases, although success in these strategies is not guaranteed[117]. Governance and Management - The company maintains a robust governance structure with independent directors overseeing key committees[57][59]. - The company’s independent directors have extensive experience in various industries, enhancing governance and strategic oversight[58][59]. - The board of directors is committed to enhancing shareholder value through active engagement and decision-making processes[75]. Risks and Challenges - The group faces significant risks from industry trends, including market conditions, asset values, and interest rate cycles, which may adversely affect its business and financial performance[90]. - The group is exposed to risks related to global economic conditions, including inflationary pressures and supply chain disruptions due to the COVID-19 pandemic[88]. - The group operates in regions affected by social unrest, terrorism threats, and geopolitical tensions, which could adversely affect its business and financial conditions[99]. Sustainability and Corporate Responsibility - The group aims to achieve environmental targets by 2030, including reducing greenhouse gas emissions, electricity, water usage, and waste paper, with a commitment to net-zero carbon emissions by 2040[13]. - The company established a Sustainability Committee on December 1, 2020, to oversee sustainable development measures and provide recommendations to the board[83]. - The group has participated in various charitable activities, raising over HKD 110 million for Macmillan Cancer Support over the past decade[14].

Financial Performance - The company's profit attributable to shareholders for the six months ended June 30, 2021, was HKD 8,355 million, representing a 30.8% increase from HKD 6,360 million in the same period of 2020[5]. - The earnings per share for the first half of 2021 was HKD 2.25, compared to HKD 1.72 in the first half of 2020, reflecting a growth of 30.8%[6]. - The group reported a profit attributable to shareholders of HKD 8,355 million for the first half of 2021, up from HKD 6,360 million in 2020, representing a growth of 31.3%[135]. - The group's total revenue for the first half of 2021 was HKD 12,332 million, compared to HKD 12,209 million in the same period of 2020, reflecting a slight increase of 1.0%[135]. - The total revenue for 2021 was HKD 3,320 million, an increase of 35% compared to HKD 2,456 million in 2020[46]. - Total comprehensive income for the six months ended June 30, 2021, was HKD 10,225 million, significantly higher than HKD 5,059 million in 2020, marking an increase of around 101.5%[126]. Dividends and Share Repurchase - The board declared an interim dividend of HKD 0.41 per share for 2021, up 20.6% from HKD 0.34 per share in 2020[7]. - The interim dividend declared was HKD 0.41 per share, totaling HKD 1,494 million, compared to HKD 1,256 million in 2020, an increase of 18.9%[138]. - The group repurchased a total of 380,000,000 shares at a total cost of HKD 19,380,000,000 on June 4, 2021[85]. - During the six months ended June 30, 2021, the company repurchased 3,150,000 shares at a total cost of HKD 163,423,500[85]. Acquisitions and Investments - The company acquired interests in UK Power Networks, Northumbrian Water, Wales & West Utilities, and Dutch Enviro Energy for HKD 17 billion, funded by issuing 333,333,333 shares[9]. - The total cost of the acquisition and share buyback was approximately HKD 19.38 billion, which was well-supported by independent shareholders[9]. - The group completed the acquisition of a 20% stake in UK Power Networks and other utilities for HKD 17,000 million, issuing 333,333,333 shares at HKD 51 each[145]. - The group continues to explore acquisition opportunities in the market, although there are risks associated with due diligence and integration of acquired businesses[121]. Market and Economic Conditions - The ongoing challenges posed by COVID-19 variants continue to impact the business environment, but the company is focused on improving performance[8]. - The local real estate market showed support due to a low-interest environment and continued user demand, with the Sea to Sky residential project sold out during the period[10]. - The GDP of mainland China grew by 12.7% year-on-year in the first half of the year, supported by a reduction in the reserve requirement ratio to release approximately RMB 1 trillion in long-term funds[17]. - Hong Kong's GDP turned positive with a year-on-year increase of 7.8% in the first half, aided by rising vaccination rates and government stimulus measures[17]. Operational Performance - The rental income of the group continues to be affected by the business environment and market consumption confidence, with the rental rate remaining under pressure[11]. - The hotel operations showed slight revenue growth, with the overall business benefiting from long-term lease agreements despite strict travel restrictions in Hong Kong[12]. - Aircraft leasing profits decreased by 18% compared to the same period last year, with over 95% of the fleet being narrow-body aircraft, which are more stable during the pandemic[13]. - The group achieved property sales revenue of HKD 14.79 billion in the first half of 2021, a decrease of 24.5% compared to HKD 19.48 billion in 2020[22]. Risks and Challenges - The ongoing COVID-19 pandemic continues to pose significant risks to the global economy, affecting the company's operations and financial performance[90]. - The group faces foreign exchange risk due to operations in multiple countries, which could impact financial status and operational performance[95]. - Climate change poses long-term risks to the group's assets and operations, potentially leading to business disruptions and financial losses[101]. - The group faces significant risks from natural disasters, which could adversely affect its business, financial condition, operational performance, or development prospects[102]. Corporate Governance - The board consists of 14 directors, including 8 executive directors and 6 independent non-executive directors, ensuring compliance with listing rules[75]. - The company has adopted a whistleblowing policy to handle potential misconduct and has established policies for handling confidential information and securities trading[74]. - The audit committee, consisting of 6 independent non-executive directors, reviewed the group's financial reporting system and risk management effectiveness for the six months ending June 30, 2021[79]. - The company emphasizes transparency and accountability in its governance practices, with regular reviews and updates to its governance policies[74].

Financial Performance - Group revenue for 2020 was HKD 74,152 million, a decrease of 22.9% compared to 2019[3] - Shareholders' profit for 2020 was HKD 16,332 million, down 44% from HKD 29,134 million in 2019[3] - The basic earnings per share for the year ended December 31, 2020, was HKD 5.24, a decrease of 32.5% compared to HKD 7.76 in 2019[14] - The total profit attributable to shareholders for the year was HKD 4.42 per share, down 44.0% from HKD 7.89 in 2019[14] - The proposed final dividend for the year 2020 is HKD 1.46 per share, down 7.6% from HKD 1.58 in 2019, with a total annual dividend of HKD 1.80, a decrease of 14.3% from HKD 2.10[16] - The overall rental income decreased by 14% due to the impact of the pandemic on local consumption and economic slowdown[17] - The total property sales revenue for the year was HKD 38.67 billion, a decrease from HKD 64.11 billion in 2019[36] - The group's total revenue for the year was HKD 19.11 billion, compared to HKD 21.37 billion in 2019, with significant contributions from mainland property sales[38] - The group’s total revenue for the year was HKD 59.35 billion, a decrease from HKD 68.97 billion in 2019, reflecting a decline of approximately 13.5%[41] Asset Management - Total assets as of 2020 amounted to HKD 449,880 million, a slight decrease from HKD 458,299 million in 2019[4] - Investment properties valued at HKD 128,683 million in 2020, compared to HKD 119,832 million in 2019, reflecting a 7.4% increase[4] - The net asset value per share increased to HKD 96.02 in 2020, up from HKD 93.21 in 2019[4] - The fair value of real estate investment trusts and investment properties decreased by HKD 10.67 billion and HKD 9.45 billion, respectively, while the impairment of pub property assets was HKD 9.95 billion[14] - The group has a land reserve of approximately 80 million square feet, with 5 million square feet in Hong Kong, 71 million square feet in mainland China, and 4 million square feet overseas[39] Development Projects - The company launched several new residential projects, including the successful sale of the 4B phase of Changsha Yingfeng Cui Di[6] - The company plans to develop private residential units and government-subsidized housing on the acquired land in Kwun Tong[9] - The group achieved strong sales progress for Guangzhou Yichui Villa and other projects, indicating positive market response[11] - The group completed several property developments in 2020, including a project in Guangzhou with a floor area of 120,187 square feet (80% ownership) and a project in Shanghai with 1,136,766 square feet (60% ownership)[31] - The company plans to develop a site in Kai Tak, Kowloon, with a site area of approximately 117,843 square feet and a potential gross floor area of about 648,137 square feet[35] Sustainability Initiatives - The establishment of a sustainability committee at the board level aims to enhance the company's sustainable development initiatives and stakeholder engagement[20] - The group is committed to sustainable development and has integrated sustainability principles into its business management, establishing a sustainability committee at the board level to oversee strategies[29] - The group emphasizes the importance of sustainable business development and is committed to balancing employee and community welfare, environmental protection, and economic factors[77] - The group has implemented various resource protection measures and waste management initiatives to minimize environmental impact, including a corporate social responsibility policy and environmental policy[77] - The company is focusing on developing sustainable building practices, aiming for a 20% reduction in carbon footprint by 2025[73] Market Outlook - The group anticipates that the local economy and employment will continue to face challenges in the first half of the year due to the pandemic, but expects positive growth for the full year as vaccination rates increase[22] - The group remains optimistic about regaining growth as the pandemic situation improves and the operating environment stabilizes[22] - The company provided an optimistic outlook, projecting a revenue growth of 10-12% for the next fiscal year, driven by new product launches and market expansion[64] - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[67] Corporate Governance - The company has established a formal plan outlining matters requiring board approval and those delegated to management[162] - The company has a formal appointment letter for all directors, specifying the main terms and conditions of their appointment[162] - The company has established various communication channels with shareholders, including annual general meetings and press conferences to provide updates on performance[124] - The board consists of 14 directors, including 8 executive directors and 6 independent non-executive directors, ensuring over one-third of the board members are independent[125] - The company has established a shareholder communication policy, which was first published in June 2015 and is regularly reviewed for effectiveness[124] Risk Management - The company has implemented a risk management system based on a risk management policy approved by the audit committee during the 2020 fiscal year[144] - The board ensures that the financial statements are prepared in accordance with applicable regulations and accounting standards[141] - The company maintains a robust internal control system designed to reasonably prevent and detect any material misstatements or losses[144] - The company has established a dedicated risk management task force to oversee the operation of the enterprise risk management system[144] - The risk management policy guides the identification, assessment, and management of significant risks within the company[147] Employee Engagement - The group employed approximately 58,000 employees, with annual employee costs amounting to HKD 10.875 billion[61] - The company has a strong focus on technology and information systems, with senior managers having over 25 years of experience in IT management[72] - The company has a diverse team with expertise in multiple areas, including finance, engineering, and information technology[72] - The company has established procedures for handling confidential and insider information, ensuring compliance with regulations[154] Shareholder Information - As of December 31, 2020, the total issued share capital of the company was 3,693,400,500 shares[100] - The company has a single class of shares, all with the same voting rights and entitlement to dividends[166] - The company aims to maintain continuous dividend distribution aligned with its profit growth and long-term development strategy[166] - The final dividend declaration received a 100.00% approval rate from shareholders[167]

優化資產 持續增值 CK ASSET HOLDINGS LIMITED 長 江 實 業 集 團 有 限 公 司 (於関曼群島註冊成立之有限公司) 股份代號 : 1113 2019 年報 集團架構 長江實業集團有限公司 （於香港註冊及上市之開曼群島有限公司） 股份代號：1113 長江實業集團總市值 發展物業 投資物業 飛機租賃 18.26% 匯賢產業信託 （於香港上市， 股份代號：87001） 32.17% 40% CK William集團 100% 100% 65% 75% 66% 100% 置富產業信託 （於香港上市， 股份代號：778） 27.07% 基建及實用 資產業務 英式酒館 業務 酒店及 服務套房 泓富產業信託 （於香港上市， 股份代號：808） 港幣1,560億元 2020年3月19日 | --- | --- | --- | --- | --- | --- | --- | --- | |--------|------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | 3 1 ...