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的任何損 失承擔任何責任。 截至二零二三年七月三十一日止年度之 末期業績公佈 業績 麗豐控股有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司（「本集團」）截至 二零二三年七月三十一日止年度之綜合業績，連同去年比較數字如下： 綜合收益表 截至二零二三年七月三十一日止年度 二零二三年 二零二二年 附註 千港元 千港元 營業額 3 1,800,510 2,515,771 銷售成本 (898,518) (1,218,917) 毛利 901,992 1,296,854 其他收入及收益 3 96,335 142,073 銷售及市場推廣費用 (112,161) (137,261) 行政費用 (307,919) (239,099) 其他經營費用淨額 (343,926) (725,598) 投資物業公平值增值╱（減值） (68,808) 340,974 ...

Financial Performance - For the six months ended January 31, 2023, the company reported interest expenses of HKD 349,218,000, an increase from HKD 299,465,000 in the previous year, representing a growth of approximately 16.6%[6] - The operating profit for the company was HKD 274,452,000 for the six months ended January 31, 2023, compared to HKD 214,424,000 in the same period last year, indicating a year-over-year increase of about 28%[8] - The company reported a loss of HKD 222,578,000 for the six months ended January 31, 2023, compared to a loss of HKD 119,777,000 for the same period in 2022, representing an increase in loss of approximately 85.9%[15] - Total revenue for the six months ended January 31, 2023, was HKD 1,002,365,000, while the cost of sales was HKD 527,521,000, resulting in a gross profit of HKD 474,844,000[13] - Operating profit decreased to HKD 189,902,000 for the current period from HKD 349,684,000 in the previous period, indicating a decline of approximately 45.7%[13] - The total comprehensive loss for the period was HKD 370,330,000, compared to a comprehensive income of HKD 285,718,000 in the previous year, marking a significant shift in performance[15] - Total revenue for the period reached HKD 1,002,365,000, a decrease of 21.7% compared to HKD 1,281,083,000 in the previous year[43] - Revenue from property sales was HKD 570,476,000, down from HKD 798,043,000, representing a decline of 28.5%[43] - Hotel and serviced apartment operations generated revenue of HKD 109,365,000, slightly down from HKD 111,079,000, a decrease of 1.5%[43] - The total tax expense for the period was HKD 138,210,000, down from HKD 254,873,000 in the previous year[52] Assets and Liabilities - The total assets of the company as of January 31, 2023, were HKD 32,085,449,000, a decrease from HKD 33,784,769,000 as of July 31, 2022, representing a decline of about 5%[9] - The company reported a total liability of HKD 17,992,700,000 as of January 31, 2023, down from HKD 19,321,690,000 in the previous year, indicating a reduction of approximately 6.9%[9] - Non-current assets totaled HKD 24,684,495,000 as of January 31, 2023, compared to HKD 24,368,332,000 as of July 31, 2022, showing a slight increase of approximately 1.3%[23] - Current liabilities decreased to HKD 4,030,708,000 from HKD 6,942,518,000, indicating a reduction of about 42%[23] - The company’s total assets less current liabilities amounted to HKD 28,054,741,000, compared to HKD 26,842,251,000, reflecting a growth of about 4.5%[23] - The company’s equity attributable to owners was HKD 14,092,749,000, down from HKD 14,463,079,000, indicating a decrease of approximately 2.6%[26] - The company’s total reserves as of January 31, 2023, were HKD 12,628,942,000, down from HKD 12,951,282,000 as of July 31, 2022[28] - The group’s accounts payable and accrued expenses totaled HKD 3,116,869, with current liabilities amounting to HKD 2,159,534 and non-current liabilities at HKD 957,335[72] - The group’s financial liabilities related to put options amounted to HKD 1,237,531, reflecting stability in financial commitments[72] Cash Flow - The company reported a net cash flow from operating activities of (HKD 192,160,000) for the six months ended January 31, 2023, compared to HKD 583,059,000 for the same period in 2022[37] - The company’s financing activities resulted in a net cash outflow of (HKD 1,411,081,000) for the period, compared to (HKD 91,880,000) in the previous year[37] - The company had cash and cash equivalents of HKD 1,599,442,000 at the end of the reporting period, down from HKD 2,499,329,000 at the end of the previous period[37] - The company’s cash and cash equivalents increased to HKD 502,342,000 from HKD 497,168,000, indicating a slight improvement in liquidity[66] - As of January 31, 2023, the group's cash and bank balances amounted to HKD 2.316 billion, with 82% denominated in RMB[142] - The group has unutilized loan financing of HKD 2.373 billion, ensuring sufficient liquidity for current property development and investment projects[144] Property and Development - The company’s revenue is derived from property sales, investment properties, hotel operations, building management, and theme park operations[35] - The group’s property development business recorded revenue of HKD 570,500,000 for the six months ended January 31, 2023, a decrease of 28.5% compared to HKD 798,000,000 in the same period last year[105] - The total area of completed unsold units, including residential, serviced apartment, and commercial units, was approximately 905,600 square feet, with a total book value of approximately HKD 740,700,000 as of January 31, 2023[111] - The average selling price for high-rise residential units was HKD 1,879 per square foot, contributing to sales revenue of HKD 444,100,000[110] - The average selling price for villa units was HKD 3,409 per square foot, contributing to sales revenue of HKD 20,100,000[110] - The average occupancy rate for the Zhuhai Hengqin Hyatt Hotel was 48.6%, with an average room rate of HKD 824[88] - The average occupancy rate for the Ascott Huaihai Road serviced apartments was 73.8%, with an average rent of HKD 1,013[102] - The total completed rental properties in Shanghai amount to 958,933 square feet for commercial/retail use and 996,935 square feet for office use, totaling 1,955,868 square feet[148] - The total completed rental properties in Guangzhou amount to 761,380 square feet for commercial/retail use and 1,210,553 square feet for office use, totaling 1,971,933 square feet[150] - The total completed rental properties across major locations amount to 2,664,993 square feet for commercial/retail use and 2,207,488 square feet for office use, totaling 4,872,481 square feet[150] Governance and Strategy - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on its reported performance or financial position[41] - The company plans to focus on market expansion and new product development to drive future growth[50] - The board consists of 11 members, with 6 executive directors and 5 independent non-executive directors, ensuring a diverse professional background[187] - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the reporting period[185] - The company is actively managing its business to ensure sustainability while considering the interests of all stakeholders[186] - The group is actively pursuing market expansion through new developments and strategic partnerships in key locations[81] - The company remains confident in the ongoing development of the Hengqin Guangdong-Macao Deep Cooperation Zone, anticipating it will become a key hub in the Greater Bay Area[120] Shareholder Information - The company has initiated a new share option plan effective from December 19, 2022, allowing for the issuance of up to 33,103,344 shares, representing 10% of the issued shares as of January 31, 2023[170] - The company has 23,531,135 shares available for grant under the 2012 share option plan as of January 31, 2023[190] - The company has not granted any new share options under the 2012 plan since its expiration on December 17, 2022[194]

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的任何損 失承擔任何責任。 截至二零二三年一月三十一日止六個月 之中期業績公佈 業績 麗豐控股有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司（「本集團」）截至二零二三年 一月三十一日止六個月之未經審核綜合業績，連同去年同期比較數字如下： 簡明綜合收益表 截至二零二三年一月三十一日止六個月 截至一月三十一日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 千港元 千港元 營業額 3 1,002,365 1,281,083 銷售成本 (527,521) (661,169) 毛利 474,844 619,914 其他收入及收益 58,234 78,102 銷售及市場推廣費用 (53,652) (69,571) 行政費用 (161,297) (121,467) ...

Financial Performance - For the fiscal year ending July 31, 2022, the group recorded revenue of HKD 2,515.8 million, a decrease of approximately 21.3% compared to HKD 3,196.6 million in the previous year[14]. - Property sales revenue decreased by 28.6% to HKD 1,624.7 million from HKD 2,275.5 million year-on-year[15]. - Gross profit increased by 80.3% to HKD 1,296.9 million, attributed to improved profitability in property sales[14]. - The net loss attributable to the company's owners for the year ended July 31, 2022, was approximately HKD 134.5 million, a significant decrease from HKD 539 million in the previous fiscal year, primarily due to improved property sales profitability and an increase in the fair value of investment properties[19]. - The net loss per share for the year was HKD 0.406, down from HKD 1.628 in the previous year, indicating a reduction in losses[20]. - The company's net asset value attributable to owners as of July 31, 2022, was HKD 14.606 billion, a slight decrease from HKD 15.431 billion as of July 31, 2021, with net asset value per share dropping from HKD 46.62 to HKD 44.12[23]. - The group reported an adjusted net loss of HKD 391.6 million after excluding the impact of property revaluation, compared to HKD 727.5 million in the previous year[21]. - The increase in impairment losses on properties, plants, and equipment was HKD 366.3 million for the year, compared to HKD 189.4 million in the previous year[21]. - The company reported a total equity of HKD 14,463,079,000, down from HKD 15,451,598,000 in 2021[154]. - The company reported a tax expense of HKD 561,888,000, an increase from HKD 439,414,000 in the previous year[145]. Rental Income and Portfolio - Rental income slightly decreased by 1.7% to HKD 875.1 million from HKD 890.3 million in the previous year[15]. - The rental income from the leasing portfolio of approximately 4.5 million square feet in first-tier cities and the Greater Bay Area remained stable during the fiscal year[27]. - The company expects that first-tier cities and the Greater Bay Area will continue to be the main sources of rental income growth in the coming years[27]. - The rental income from Guangzhou Li Feng Center increased by 5.1% to HKD 142.9 million, compared to HKD 136.0 million in the previous year[60]. - The rental income from the Hengqin Innovation Phase I property decreased by 28.9% to HKD 61.2 million, down from HKD 86.1 million in the previous year[60]. - The group maintained a stable rental income from its leasing portfolio in key cities such as Shanghai, Guangzhou, and Zhongshan despite challenging operating conditions[59]. - The total revenue from leasing operations for the year ended July 31, 2022, was HKD 875.1 million, a slight decrease from HKD 890.3 million for the previous year[64]. - The average rental rate for Shanghai Hong Kong Plaza was 87.2% for retail and 85.9% for office, showing a decline from 90.3% and 83.8% respectively in the previous year[60]. Property Development and Future Outlook - The group aims to enhance its property development and investment strategies in the Chinese market moving forward[8]. - Future outlook includes potential acquisitions to strengthen market position and operational capabilities[9]. - The group plans to consider timely expansion of its land reserves while managing its financial situation based on macroeconomic conditions and existing business risks[31]. - The group anticipates that the residential units and unsold serviced apartments in the Zhongshan Palm Rainbow Garden will contribute to revenue in the upcoming fiscal year[31]. - The group's property development business recorded a revenue of HKD 1,624.7 million for the year ended July 31, 2022, a decrease of 28.6% compared to HKD 2,275.5 million in the previous year[95]. - The confirmed sales were primarily driven by residential units from the Zhongshan Palm Rainbow Garden and cultural workspaces from the Hengqin Innovation Phase I[95]. - The average selling price for residential units in the Shanghai Wuliqiao project was HKD 12,911 per square foot, contributing HKD 89 million to the group's revenue[104]. - The total sales from the Zhongshan Palm Rainbow Garden included 530 high-rise residential units and 16 villa units, generating revenue of HKD 1,070.5 million[96]. Financial Management and Debt - The group reported cash on hand of approximately HKD 4,142,600,000 as of July 31, 2022, down from HKD 4,699,000,000 in the previous year, and unused loan facilities of HKD 1,984,500,000[41]. - The debt-to-equity ratio as of July 31, 2022, was 53%, an increase from 45% in the previous year, indicating a cautious approach to financial management[41]. - The net debt increased to HKD 7,797.1 million from HKD 6,889.3 million year-over-year[46]. - Total borrowings amount to HKD 11,939,700,000, an increase of HKD 351,400,000 compared to HKD 11,588,300,000 in the previous year[130]. - The net debt to equity ratio is approximately 53%, up from 45% in the previous year[130]. - Approximately 23% of borrowings are fixed-rate, while 72% are floating-rate[131]. Environmental, Social, and Governance (ESG) Initiatives - The company has received approval from the management team and the board of directors for the annual Environmental, Social, and Governance (ESG) report[169]. - The board acknowledges the importance of ESG issues for the long-term success of the business and takes overall responsibility for the management and execution of these issues[170]. - The company conducted extensive stakeholder engagement activities to ensure that significant ESG issues are relevant to its business and stakeholders[172]. - The company aims to reduce its environmental impact and has set qualitative targets for the fiscal year 2020/2021, focusing on reducing energy consumption, greenhouse gas emissions, and waste generation[182]. - The company has obtained ISO 14001:2015 environmental management system certification for its properties in Guangzhou and Shanghai during the reporting year[186]. - The company has received multiple green building certifications, including LEED Gold certification for Guangzhou Li Feng Center and LEED Gold pre-certification for Shanghai Li Feng Tian Jie Center[185]. - The company has identified tropical cyclones as the most significant climate-related risk, potentially causing substantial asset and economic losses[190]. - The company has implemented waste management procedures requiring contractors to submit waste handling plans based on the "3R" principles (Reduce, Reuse, Recycle)[197].

Financial Performance - Revenue for the six months ended January 31, 2022, was HKD 1,281,083, a decrease of 17.6% compared to HKD 1,554,721 for the same period in 2021[6]. - Gross profit increased to HKD 619,914, compared to HKD 290,582 in the previous year, reflecting a significant improvement in profitability[6]. - Operating profit for the period was HKD 349,684, a turnaround from an operating loss of HKD 59,362 in the prior year[6]. - The net loss for the period was HKD 119,777, a substantial reduction from a loss of HKD 494,095 in the same period last year[8]. - The company reported a basic and diluted loss per share of HKD 0.226, an improvement from HKD 1.348 in the previous year[6]. - The total comprehensive income for the period was HKD 1,213,073,000, compared to HKD 1,659,155,000 in the previous year[19]. - The company reported a loss attributable to owners of the company of HKD (446,124,000) for the period[19]. - The company reported a loss of HKD 74,853 during the period, impacting retained earnings negatively[15]. Comprehensive Income - Other comprehensive income for the period totaled HKD 405,495, compared to HKD 1,707,168 in the previous year, indicating a decrease in overall comprehensive income[8]. - The total comprehensive income attributable to owners of the company was HKD 322,402, compared to HKD 1,213,031 in the prior year[8]. - The company experienced a foreign exchange gain of HKD 375,528, compared to a gain of HKD 1,705,911 in the previous year[8]. - Other comprehensive income for the period included a foreign exchange gain of HKD 367,288, contributing positively to overall equity[15]. Assets and Liabilities - As of January 31, 2022, total non-current assets increased to HKD 25,379,546, up from HKD 24,503,832 as of July 31, 2021, representing a growth of approximately 3.56%[10]. - Current liabilities rose significantly to HKD 7,547,186 from HKD 4,185,761, indicating an increase of approximately 80.00%[10]. - The net current assets decreased to HKD 2,928,477 from HKD 6,449,273, reflecting a decline of approximately 54.73%[10]. - The company’s total liabilities increased to HKD 20,116,817,000 from HKD 19,687,268,000, reflecting a growth of approximately 2%[35]. - The company’s total liabilities classified as current liabilities were HKD 2,004,229,000, a decrease from HKD 2,289,675,000 in the previous year[51]. Cash Flow - The net cash flow from operating activities for the six months was HKD 583,059,000, down from HKD 874,300,000 in the prior year, indicating a decline of approximately 33.3%[21]. - The net cash flow used in investing activities was HKD (857,727,000), compared to HKD (996,587,000) in the previous year, showing an improvement of about 13.9%[21]. - The net cash flow from financing activities was HKD (91,880,000), a significant decrease from HKD 1,132,738,000 in the previous year[21]. - The company’s cash and cash equivalents stood at HKD 2,499,329, a decrease from HKD 2,819,615, indicating a decline of approximately 11.37%[10]. Revenue Breakdown - Revenue from property sales was HKD 798,043,000, compared to HKD 816,617,000 in the previous year, reflecting a decrease of about 2.4%[28]. - Property sales revenue decreased by 27.2% to HKD 798.0 million, down from HKD 1,095.8 million in the previous year[97]. - The total rental revenue for the group increased by 6.3% to HKD 472.8 million for the six months ended January 31, 2022, compared to HKD 444.7 million for the same period in 2021[114]. Future Plans and Strategy - The company plans to focus on market expansion and new product development to drive future growth[5]. - The company plans to continue focusing on property development and investment, as well as expanding its hotel and theme park operations[26]. - The company plans to consider expanding its land reserves in a timely manner, taking into account macroeconomic conditions and existing business in relevant cities[86]. - The company is committed to providing regular updates to its board, ensuring transparency and informed decision-making regarding its performance and future prospects[200]. Corporate Governance - The board of directors consists of 11 members, with a diverse background in real estate, investment, banking, accounting, finance, and law, ensuring comprehensive oversight of the company's operations[200]. - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange regulations during the reporting period[199]. - The company is focused on long-term sustainability and strategic planning to align with shareholder interests and stakeholder considerations[200].

Financial Performance - For the fiscal year ending July 31, 2021, the company recorded a revenue of HKD 3,196.6 million, an increase of approximately 166.0% compared to HKD 1,201.8 million in the previous fiscal year[14]. - The increase in revenue was primarily due to a significant rise in property sales, with property sales revenue reaching HKD 2,275.5 million, up 435.9% from HKD 424.6 million[15]. - Gross profit increased by 20.4% to HKD 719.1 million from HKD 597.3 million in the previous year[14]. - The net loss attributable to the company's owners decreased to approximately HKD 539 million, compared to HKD 1,006.3 million in the previous year, marking a significant reduction[17]. - The loss per share was HKD 1.628, down from HKD 3.049 in the previous year, indicating an improvement in financial performance[18]. - The company's net asset value attributable to owners increased to HKD 15,431.3 million, up from HKD 14,309.1 million the previous year, with a slight increase in net asset value per share from HKD 43.23 to HKD 46.62[18]. - Operating profit was HKD 165.8 million, a turnaround from an operating loss of HKD 918.6 million, with an operating margin of 5.2%[44]. - The net profit for the year was a loss of HKD 675,565,000, compared to a loss of HKD 1,224,558,000 in the previous year, indicating an improvement in financial performance[133]. Revenue Sources - Rental income for the year was HKD 890.3 million, representing a 17.4% increase from HKD 758.1 million in the previous year[15]. - The rental revenue from the leasing portfolio of approximately 4.5 million square feet remained stable during the review period, with major growth expected from first-tier cities and the Greater Bay Area[23]. - The total rental revenue for the group increased by 17.4% to HKD 890.3 million in 2021 from HKD 758.1 million in 2020[57]. - The rental revenue from Hengqin Innovation Phase I surged by 611.6% to HKD 86.1 million, up from HKD 12.1 million in the previous year[57]. Property Development - The property development business recorded a revenue of HKD 2,275,500,000 for the year ended July 31, 2021, representing a 435.9% increase compared to HKD 424,600,000 in 2020[93]. - The confirmed sales primarily came from residential units and parking spaces in the Shanghai Wuliqiao project and the Zhongshan Palm Rainbow Garden, as well as sales from the Hengqin Harrow School occupied property[93]. - The total area of the Zhuhai Hengqin Hyatt Hotel is approximately 594,800 square feet, with the group’s share being about 475,800 square feet, including 493 guest rooms[93]. - The average selling price per square foot for the Shanghai Wuliqiao residential units was HKD 15,331, generating a revenue of HKD 846 million[94]. - The total planned gross floor area for the Zhongshan Palm Rainbow Garden project is approximately 6,075,000 square feet, with confirmed sales contributing HKD 836.3 million to revenue[108]. Strategic Initiatives - The company is focused on expanding its investment and development in hotel-style serviced apartments, residential, office, and commercial properties in mainland China[9]. - Future outlook includes continued growth in property sales and potential new developments in cultural and recreational facilities[9]. - The company plans to enhance its operational efficiency and explore strategic acquisitions to support its growth objectives[9]. - The group plans to expand its land reserves and will consider various factors including macroeconomic conditions and existing business risks[29]. Market Outlook - The company remains optimistic about the long-term business environment in China, particularly in the Greater Bay Area, and expects continued growth in the tourism market[22]. - The company anticipates that ongoing cooperation between Hengqin and Macau will encourage more residents to move to Hengqin, further promoting market growth[26]. Corporate Governance and ESG - The board of directors emphasizes the importance of sustainable development and corporate governance in its future strategies[9]. - The company identified 23 significant environmental, social, and governance (ESG) issues relevant to its operations through benchmarking against peers[160]. - Key ESG issues identified include energy management, waste management, employee relations, and customer satisfaction, all of which are critical for both property and hotel operations[162]. - The company aims to enhance its ESG strategy based on stakeholder feedback collected during the year[158]. Employee Relations - The group employed approximately 2,000 employees as of July 31, 2021, emphasizing the importance of maintaining a stable workforce for continued success[127]. - The group has implemented competitive salary policies and performance-based promotions, which are crucial for employee retention and motivation[127]. - The group has established various employee benefits, including stock option plans and medical insurance, to enhance employee satisfaction and retention[127]. Financial Position - The group had cash on hand of approximately HKD 4.699 billion as of July 31, 2021, compared to HKD 2.525 billion in 2020, and undrawn loan facilities of HKD 3.026 billion[35]. - The debt-to-equity ratio as of July 31, 2021, was 45%, down from 55% in 2020[35]. - The group reported a significant increase in current assets, which rose to HKD 10,635,034,000 from HKD 8,532,774,000, reflecting improved liquidity[138]. Construction and Development Projects - The second phase of the "Innovation Park" is under construction, expected to be completed in stages by 2024, providing a total area of approximately 2,519,800 square feet for commercial and entertainment facilities[26]. - The group is currently delivering pre-sold units in the Zhongshan Palm Rainbow Garden project, which has completed construction[27]. - The Guangzhou Haizhu Square project is currently under construction, with an estimated completion date in the first half of 2023 and a total site area of 90,708 square feet[147]. Environmental Initiatives - The group is committed to reducing environmental impact by integrating sustainability into business operations, with specific goals for reducing greenhouse gas emissions, energy consumption, and waste generation[163]. - The group has achieved LEED Gold certification for the Guangzhou Li Feng Center and Gold pre-certification for the Guangzhou Haizhu Plaza Development Project, emphasizing its commitment to sustainable building practices[166]. - The company has implemented a waste management strategy that includes recycling bins in office areas and properties, and has introduced smart recycling bins in Zhongshan to enhance waste processing[176].

Financial Performance - For the six months ended January 31, 2021, the company reported revenue of HKD 1,554,721,000, a significant increase from HKD 599,898,000 in the same period last year, representing a growth of approximately 159%[3] - The gross profit for the same period was HKD 290,582,000, down from HKD 312,049,000 year-on-year, indicating a decrease of about 7%[3] - Operating loss narrowed to HKD 59,362,000 compared to a loss of HKD 249,786,000 in the previous year, showing an improvement of approximately 76%[3] - The company incurred a total loss of HKD 494,095,000 for the period, which is an improvement from a loss of HKD 570,790,000 in the prior year, reflecting a reduction of about 13%[5] - Other income and gains increased to HKD 54,964,000 from HKD 30,526,000, marking an increase of approximately 80%[3] - The financing costs rose to HKD 186,318,000 from HKD 115,477,000, representing an increase of about 61%[3] - The company reported a foreign exchange gain of HKD 1,705,911,000, a significant turnaround from a loss of HKD 424,811,000 in the previous year[5] - Total comprehensive income for the period was HKD 1,213,073,000, compared to a loss of HKD 995,610,000 in the same period last year, indicating a substantial recovery[5] - The company’s basic and diluted loss per share was HKD 1.348, slightly improved from HKD 1.351 in the previous year[3] Assets and Liabilities - Total non-current assets increased to HKD 24,222,784,000 from HKD 22,425,560,000, representing an increase of approximately 8%[8] - Current assets rose to HKD 10,851,823,000 compared to HKD 8,532,774,000, marking a growth of around 27%[8] - Total liabilities remained stable with current liabilities at HKD 6,723,661,000, slightly down from HKD 6,725,324,000[8] - Net current assets improved significantly to HKD 4,128,162,000 from HKD 1,807,450,000, indicating a growth of over 128%[8] - Total equity attributable to owners increased to HKD 15,522,287,000 from HKD 14,309,099,000, reflecting an increase of approximately 8.5%[10] - The total value of non-current liabilities rose to HKD 12,718,194,000 from HKD 9,813,488,000, an increase of about 29%[8] Cash Flow - The net cash flow from operating activities for the six months ended January 31, 2021, was HKD 874,300,000, a turnaround from a cash outflow of HKD 298,903,000 in the same period of 2020[19] - The company recorded a net cash flow from financing activities of HKD 1,132,738,000, compared to HKD 703,658,000 in the previous year, reflecting an increase of approximately 60.9%[19] - The cash and cash equivalents at the end of the period increased to HKD 2,290,979,000 from HKD 1,249,053,000, marking a growth of about 83.4%[19] - The company’s cash and cash equivalents increased to HKD 2,290,979,000 from HKD 1,193,956,000, a growth of approximately 92%[8] Revenue Sources - Revenue from customer contracts amounted to HKD 992,787,000, compared to HKD 322,046,000 in the previous year, indicating a growth of about 208.5%[26] - The company generated rental income from investment properties amounting to HKD 282,702,000, compared to HKD 277,852,000 in the previous year, showing a slight increase[26] - Total revenue for the year 2021 reached HKD 1,564,300,000, an increase from HKD 609,916,000 in 2020[31] - The group recorded a revenue of HKD 1,554.7 million for the six months ending January 31, 2021, representing an increase of approximately 159.2% compared to the previous year[93] Property Development and Leasing - The company has engaged in various new accounting standards and policies, which did not have a significant impact on the reported performance or financial position[23] - The company is actively pursuing market expansion opportunities in the Greater Bay Area, particularly in Hengqin, which is positioned as a core city in Guangdong Province[127] - The group recorded property development revenue of HKD 1,095,800,000 for the six months ended January 31, 2021, representing an increase of 525.5% compared to the same period last year[141] - The company has ongoing development projects, including the second phase of Innovation Square, which is expected to cover approximately 1,898,725 square feet upon completion[183] Market Outlook and Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The company remains optimistic about the long-term business environment in China, driven by the government's dual circulation development model[76] - Future outlook includes continued investment in property development and potential acquisitions to strengthen the portfolio and drive revenue growth[127] Corporate Governance - The company has not established a nomination committee, with its functions being undertaken by the entire board of directors[192] - The board of directors consists of 14 members, including 7 executive directors and 5 independent non-executive directors, ensuring diversity in gender, nationality, and professional background[193] - The company has adopted a share option scheme to recognize the contributions of eligible participants, including directors and employees, which will remain effective for ten years from the adoption date[200] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules, with minor deviations noted[190]

Financial Performance - For the fiscal year ending July 31, 2020, the company reported revenue of HKD 1,201.8 million, a decrease of approximately 17.8% compared to HKD 1,461.2 million in 2019[12] - The gross profit fell by 34.9% from HKD 917.5 million in the previous year to HKD 597.3 million[12] - Rental income decreased by 10.6% to HKD 758.1 million, while property sales dropped by 30.8% to HKD 424.6 million[14] - The company recorded a net loss attributable to shareholders of approximately HKD 1,006.3 million, compared to a profit of HKD 668.6 million in the previous year[14] - The average exchange rate of RMB depreciated by about 3.7% during the reporting period, leading to a 14.6% decline in revenue when measured in RMB[12] - The company reported a net loss per share of HKD 3.049, compared to earnings per share of HKD 2.043 in 2019[15] - The net profit attributable to the company's owners for the year ended July 31, 2020, was HKD (1,006.3) million, compared to a profit of HKD 668.6 million in 2019[16] - The company did not recommend a final dividend for the year ended July 31, 2020, compared to a dividend of HKD 0.20 per share in 2019[19] - The company’s net asset value per share decreased to HKD 43.23 from HKD 48.36 year-over-year[41] - The group recorded a revenue of HKD 424.6 million from property sales for the year ending July 31, 2020, a decrease of 30.8% compared to HKD 613.3 million in 2019[87] Operational Highlights - The theme park operations revenue surged by 6266.7% to HKD 19.1 million, reflecting a significant increase in this segment[14] - Increased operating expenses were primarily due to higher depreciation costs for properties, plants, and equipment during the reporting period[14] - The property investment segment contributed approximately 63% to the total revenue, with a rental portfolio of 4,500,000 square feet located in first-tier cities and the Greater Bay Area[20] - The company expects to have a rental portfolio of approximately 8,800,000 square feet after the completion of ongoing projects, including the redevelopment of Shanghai Zhabai Plaza and Guangzhou Haizhu Plaza[21] - The first phase of the Innovation Square has achieved 69% occupancy, with major tenants including Adidas and Starbucks, despite a five-month closure due to COVID-19[23] - The Shanghai Wuliqiao project has sold 17 out of 28 residential units, generating a signed sales total of approximately RMB 536.4 million, with additional units under subscription expected to increase this figure to RMB 756.2 million[25] Strategic Plans - The company plans to continue focusing on property development and investment in cultural and recreational facilities in mainland China[7] - The company aims to enhance its market presence through strategic investments and potential acquisitions in the property sector[7] - The company plans to expand its land reserves considering macroeconomic conditions and existing business risks[26] - The expected growth of the rental portfolio and development projects is outlined for fiscal years 2021 to 2024, with significant contributions anticipated from completed projects[29] - The company is developing key facilities in the second phase of Innovation Square, including the Harrow International School, expected to open in February 2021[24] Financial Position - As of July 31, 2020, the company had cash on hand of approximately HKD 2,524.6 million, down from HKD 3,097.3 million a year earlier[36] - The net debt to equity ratio increased to 54.6% from 38.0% in the previous year[41] - The stock price as of July 31, 2020, was HKD 8.93, compared to HKD 7.84 a year prior[41] - The group’s total borrowings as of July 31, 2020, amounted to HKD 10,339,500,000, an increase of HKD 1,220,300,000 from the previous year[126] - The group holds cash and bank balances of HKD 2,524,600,000 and undrawn loan facilities of HKD 3,034,200,000 as of July 31, 2020[126] Sustainability and Compliance - The company is committed to environmental sustainability, adhering to all relevant environmental laws and regulations without any violations reported during the fiscal year[157] - The company has upgraded its management systems in Shanghai and Guangzhou to comply with the latest ISO 14001:2015 standards[160] - The company employs green building practices in its projects, following LEED v4 standards for design and construction[158] - The company has established a waste management plan based on the "3R" principles (Reduce, Reuse, Recycle) to manage waste generated from property development[163] - The company has committed to providing a safe working environment, implementing health and safety measures, and offering training to employees to manage occupational health risks[174] Employee Engagement and Training - The group employed approximately 2,000 employees as of July 31, 2020, maintaining competitive salary levels and performance-based promotions[132] - The company provides extensive internal and external development programs for employees, including tuition assistance for those with over 12 months of service[179] - Training programs for property management staff cover sales and marketing skills, customer service, and property safety management, among others[180] - Employee training opportunities in the hotel sector include topics such as business development and customer service, aimed at fostering growth[182] Customer Satisfaction and Safety - High customer satisfaction levels were recorded, with overall satisfaction rates of 99%, 97%, and 99% for properties in Guangzhou[186] - The company has implemented various COVID-19 preventive measures across its operations to ensure the health and safety of customers and employees[190] - The Shanghai Ascott Huaihai Road serviced apartment has established standard operating procedures for health checks and safety protocols during the pandemic[192] - The company has received recognition from the Yuexiu District government for its exemplary COVID-19 response measures in property management[191]

Financial Performance - For the six months ended January 31, 2020, the company reported a revenue of HKD 599,898,000, an increase from HKD 571,086,000 in the same period last year, representing a growth of 5%[5] - The gross profit for the same period was HKD 312,049,000, down from HKD 359,137,000, indicating a decrease of approximately 13%[5] - The operating loss for the period was HKD 249,786,000, compared to an operating profit of HKD 353,320,000 in the previous year, reflecting a significant decline[5] - The net loss attributable to the company's owners was HKD 570,790,000, compared to a profit of HKD 82,686,000 in the prior year, marking a substantial turnaround[5] - Basic and diluted loss per share for the period was HKD 1.351, compared to earnings of HKD 0.211 per share in the same period last year[5] - The total comprehensive loss for the period was HKD 995,610,000, compared to a comprehensive income of HKD 417,305,000 in the previous year[7] Expenses and Costs - The company incurred finance costs of HKD 115,477,000, up from HKD 73,549,000, indicating an increase of approximately 57%[5] - Selling and marketing expenses rose to HKD 33,010,000 from HKD 19,707,000, reflecting an increase of approximately 67%[5] - The company recorded a total tax expense of HKD 205,412,000 for the period, compared to HKD 178,803,000 for the same period in 2019[59] - Depreciation of property, plant, and equipment was HKD 103,613,000 for the six months ended January 31, 2020, compared to HKD 36,438,000 for the same period in 2019[54] Assets and Liabilities - As of January 31, 2020, total non-current assets amounted to HKD 25,139,873, an increase from HKD 24,825,442 as of July 31, 2019, representing a growth of 1.26%[9] - Current assets totaled HKD 6,123,143, a decrease from HKD 6,484,185 as of July 31, 2019, reflecting a decline of 5.55%[9] - Total liabilities increased to HKD 12,084,448 from HKD 11,577,701, marking a rise of 4.37%[11] - The net current asset value decreased to HKD 2,066,552 from HKD 2,933,942, indicating a decline of 29.54%[9] - The company's equity attributable to owners was HKD 14,918,407, down from HKD 15,834,007, a decrease of 5.78%[11] Cash Flow - The company reported a net cash flow used in operating activities of HKD (298,903,000) for the six months ended January 31, 2020, compared to HKD (82,079,000) for the same period in 2019[21] - The net cash flow used in investing activities was HKD (1,008,251,000) for the six months ended January 31, 2020, compared to HKD (79,945,000) for the same period in 2019[21] - The company generated a net cash flow from financing activities of HKD 703,658,000 for the six months ended January 31, 2020, compared to HKD 1,305,945,000 for the same period in 2019[21] - The company's cash and cash equivalents stood at HKD 1,249,053, down from HKD 1,923,484, a decrease of 35.0%[9] Revenue Breakdown - Revenue from property sales was HKD 175,186,000, compared to HKD 145,668,000 in 2019, reflecting a significant increase of about 20.2%[45] - Rental income from investment properties decreased to HKD 277,852,000 from HKD 289,795,000, a decline of approximately 4.1%[45] - The company’s segment revenue from hotel and serviced apartments was HKD 78,168,000, down from HKD 80,072,000 in 2019, a decrease of about 2.4%[51] Investment Properties - The fair value loss on investment properties was HKD 387,598,000, compared to a gain of HKD 109,692,000 in the previous year, showing a significant negative shift[5] - The company recorded a significant fair value impairment on investment properties during the review period[121] Shareholder Information - The company reported a loss attributable to shareholders of HKD 442,388,000 for the six months ended January 31, 2020, compared to a profit of HKD 69,005,000 for the same period in 2019[63] - The company’s net asset value attributable to shareholders decreased to HKD 14.92 billion from HKD 15.83 billion as of July 31, 2019[126] - The company reported a loss per share of HKD 1.35 for the six months ended January 31, 2020, compared to earnings per share of HKD 0.21 for the same period in 2019[64] Future Plans and Strategies - The company plans to continue evaluating its investment strategies and market expansion opportunities in response to changing market conditions[43] - The company plans to expand its rental portfolio to approximately 9,300,000 square feet after completing ongoing projects in major cities[107] - The company is considering measures to restore public float to meet the minimum requirement of 25% of total issued shares[119] Property Development - The property development business recorded a revenue of HKD 175.2 million from property sales for the six months ended January 31, 2020, representing a 20.2% increase compared to the same period last year[164] - The average selling price for high-rise residential units in Zhongshan Palm Rainbow Garden was HKD 1,667 per square foot, with a total of 13 units sold[165] - The average selling price for villa residential units in Zhongshan Palm Rainbow Garden was HKD 2,565 per square foot, with a total of 10 units sold[165] Market Conditions - The average exchange rate for RMB depreciated by approximately 2.6% compared to the same period last year, impacting rental income[131] - The company will consider expanding its land reserves based on macroeconomic conditions and existing business in relevant cities[111]

Financial Performance - For the fiscal year ending July 31, 2019, the company reported a revenue of HKD 1,461,200,000, an increase of approximately 53.7% compared to HKD 950,800,000 in the previous year[17] - Gross profit rose by 35.1% to HKD 917,500,000 from HKD 679,300,000 year-on-year[17] - Total revenue for the year ended July 31, 2019, was HKD 1,461.2 million, representing a 36.9% increase from HKD 1,067.7 million in 2018[27] - Net profit attributable to shareholders decreased by approximately 43.3% to HKD 668.6 million from HKD 1,180.1 million in 2018[31] - Basic earnings per share fell to HKD 2.043, down from HKD 3.615 in the previous year[28] - Excluding property revaluation effects, net profit attributable to shareholders was HKD 263.7 million, a decline of 58.1% from HKD 629.1 million[30] - The company's net asset value per share increased slightly to HKD 48.36 from HKD 47.40 in 2018[31] - Reported profit attributable to the company's owners was HKD 668.6 million, a decrease of 43% compared to HKD 1,180.1 million in the prior year[57] - Adjusted profit attributable to the company's owners fell by 58% to HKD 263.7 million from HKD 629.1 million[57] Revenue Sources - Property sales revenue surged by 232.2% to HKD 613.3 million from HKD 184.6 million in the previous year[25] - Rental income increased by 10.6% to HKD 847.6 million from HKD 766.2 million year-on-year[24] - Revenue for the year ended July 31, 2019, was HKD 1,461.2 million, representing a 54% increase from HKD 950.8 million in the previous year[57] - The group recorded rental revenue of HKD 847.6 million for the year ended July 31, 2019, representing a 10.6% increase from HKD 766.2 million in the previous year[74] - Revenue from rental properties was HKD 736.3 million, while property management operations contributed HKD 111.3 million, showing a slight decline of 3.9% from HKD 766.2 million last year[74] Property Development - The property development business recorded a revenue of HKD 613.3 million for the year ending July 31, 2019, representing a significant increase of 232.2% compared to HKD 184.6 million in 2018[95] - The average selling price for residential units in the Zhongshan Palm Rainbow Garden reached HKD 1,590 per square foot, contributing to a total sales revenue of HKD 240.2 million from 129 units sold[96] - The total planned construction area for the Zhongshan Palm Rainbow Garden project is approximately 6,075,000 square feet, with confirmed sales of HKD 378.1 million during the review period[110] - The Shanghai Wuliqiao project, covering an area of about 74,100 square feet, is expected to launch sales in the coming months after construction completion in August 2019[103] Financial Position - As of July 31, 2019, the group's land reserves amounted to approximately 8,400,000 square feet, with cash on hand of HKD 3,097,300,000 and undrawn loan facilities of HKD 2,647,900,000[53] - The group plans to maintain a prudent and flexible approach while expanding its land reserves and managing its financial situation[53] - The group has unutilized loan facilities amounting to HKD 2,647,900,000 as of July 31, 2019[125] - The group reported a cash and bank balance of HKD 3,097,300,000, with 77% in RMB, 15% in HKD, and 8% in USD[127] - The total liabilities of the group amounted to HKD 15,127,944,000 in 2019, compared to HKD 12,439,940,000 in 2018, marking an increase of approximately 21.5%[133] Market and Business Outlook - The company maintains a cautious optimism regarding business prospects in the Greater Bay Area, particularly in southern China[34] - The group has outlined a growth plan for its leasing portfolio, with new properties expected to be added in fiscal years 2022 to 2024[42] - The group anticipates revenue contributions from remaining residential units in Zhongshan Palm Rainbow Garden and the Shanghai Wuliqiao project, which is expected to be completed in August 2019[39] Environmental and Social Responsibility - The company has established an environmental management policy aimed at improving performance in emissions, energy use, waste management, and resource usage[151] - The company has implemented multiple emission reduction procedures to actively manage its emissions, including monitoring measures across all business units[152] - The company has adopted the LEED v4 building design and construction standards for new projects in mainland China, ensuring compliance with environmental impact assessments[153] - The company has set up a waste management program to minimize waste generated during daily operations, promoting recycling and proper disposal of hazardous waste[155] - The company actively engages in community service and development, providing local employment opportunities and supporting education for youth[183] Corporate Governance - The company is committed to maintaining high levels of corporate governance in accordance with the Hong Kong Stock Exchange's listing rules[191] - The board consists of 15 members, including 8 executive directors, 2 non-executive directors, and 5 independent non-executive directors, exceeding the minimum requirement set by listing rules[196] - The attendance record for board meetings shows that all executive directors attended 100% of the meetings, with the exception of one non-executive director who attended 80%[199]