| 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告的內容概不負責，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 公告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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 美高梅中國控股有限公司 | | 股份代號 | 02282 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 06028 MGM CHINA N2405 | | 40258 | MGM CHINA N2506 | | 40634 | MGM CHINA N2702 | | 05036 | MGM CHINA N3106 | | 公告標題 | 截至二零二四年十二月三十一日止年度之末期股息 | | 公告日期 | 2025年3月20日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月31日 | | 宣派股息 | 每 股 0.251 HKD | ...

Financial Performance - MGM China Holdings Limited reported total revenue of HKD 31,387,155 thousand for the year ending December 31, 2024, an increase of 27.2% from HKD 24,684,210 thousand in 2023[3]. - The company's net profit attributable to shareholders rose to HKD 4,603,408 thousand, up 74.5% from HKD 2,638,304 thousand in the previous year[4]. - Adjusted EBITDA for the year was HKD 9,058,637 thousand, reflecting a growth of 25.2% compared to HKD 7,235,246 thousand in 2023[3]. - The basic earnings per share increased to HKD 1.211 from HKD 0.694, representing a growth of 74.5%[3]. - Total operating revenue for 2024 was HKD 31,387,155, up 27.1% from HKD 24,684,210 in 2023[22]. - The gaming segment generated revenue of HKD 27,282,911 in 2024, a 24.8% increase from HKD 21,821,840 in 2023[22]. - Casino revenue increased by 25.0% to HKD 27,282,911 thousand for the year ended December 31, 2024, compared to HKD 21,821,840 thousand in 2023[117]. - Main table gaming win increased by 33.6% to HKD 28,603,955 thousand, with betting amounts rising by 16.0% and 25.9% for MGM Macau and MGM Cotai, respectively[117]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.251 per share, totaling approximately HKD 953.8 million, which is about 20.7% of the net profit attributable to shareholders[5]. - The company declared a special dividend of HKD 0.353 per share, totaling HKD 1,341,900 thousand, paid on October 4, 2024[28]. - The company repurchased a total of 23,381,800 shares at a total cost of HKD 320.5 million for the year ending December 31, 2024[178]. - The repurchase aimed to maintain the same issued share capital and enhance the stability of the company's equity, thereby improving net asset value per share[179]. Assets and Liabilities - Total assets increased to HKD 30,603,648 thousand in 2024, compared to HKD 29,181,304 thousand in 2023, marking a growth of 4.9%[10]. - Total liabilities decreased slightly to HKD 30,076,121 thousand in 2024 from HKD 30,508,524 thousand in 2023[12]. - The company’s cash and cash equivalents rose to HKD 5,315,440 thousand, up from HKD 4,231,986 thousand in the previous year, indicating a 25.6% increase[10]. - The group has a net current liability of HKD 2,561,800 as of December 31, 2024, down from HKD 5,187,400 in 2023[14]. - Total borrowings decreased from HKD 24,098,731,000 in 2023 to HKD 22,919,939,000 in 2024, indicating improved debt management[44]. Operational Highlights - The company’s operating profit for the year was HKD 6,156,404 thousand, a 35.4% increase from HKD 4,547,486 thousand in 2023[3]. - The average daily win per main gaming table increased to HKD 107.3 in 2024 from HKD 92.0 in 2023, reflecting a growth in gaming performance[114]. - The occupancy rate for hotel rooms was 94.5% in 2024, up from 93.9% in 2023, indicating strong demand in the hospitality sector[114]. - The total win from main gaming tables at MGM Macau was HKD 12,158,127 in 2024, compared to HKD 9,866,398 in 2023, marking a significant increase[114]. - The total win from main gaming tables at MGM Cotai was HKD 16,445,828 in 2024, up from HKD 11,544,706 in 2023, showcasing robust growth[115]. Strategic Initiatives - MGM China Holdings Limited plans to continue expanding its operations following the easing of COVID-19 travel restrictions, which has positively impacted its financial performance[4]. - The company plans to continue expanding its operations in Macau, focusing on enhancing customer experience and service offerings[18]. - The company is focusing on developing new gaming technologies to enhance customer experience and operational efficiency[192]. - The company is actively identifying investment opportunities in innovative gaming and non-gaming facilities to diversify its service offerings[84]. - The company has expanded its international sales network to cities such as Kuala Lumpur, Manila, Seoul, and Osaka since 2023, aiming to further develop the international customer market[85]. Market and Industry Trends - The total number of inbound visitors to Macau increased by 23.8% compared to 2023, while the number of visitors from mainland China rose by 28.6%[88]. - Macau's gross gaming revenue for the year ending December 31, 2024, increased by 23.9% to HKD 220.2 billion compared to 2023[88]. - The company's overall market share in Macau's gaming sector reached 15.8% for the year ending December 31, 2024, up from 15.2% in 2023 and significantly higher than 9.5% before the COVID-19 pandemic[91]. - The company maintains an optimistic long-term growth outlook for the Macau market, supported by infrastructure improvements and increased travel demand from mainland China[89]. Compliance and Governance - The company has complied with all provisions of the corporate governance code as of December 31, 2024[181]. - The audit committee has reviewed the annual performance for the year ending December 31, 2024[184]. - The company has received approval for a tax exemption on profits generated from gaming operations in Macau for the period from January 1, 2023, to December 31, 2027[24]. Future Outlook - The company anticipates a positive outlook for the gaming industry in Macau, driven by increased tourism and consumer spending[192]. - The company is committed to enhancing customer experience through operational efficiency and quality service, focusing on the economic benefits of its properties in Macau[83]. - The company plans to launch the new Poly MGM Museum and the first resident show "Macau 2049" in 2024, enhancing its non-gaming product offerings[85].

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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示不會就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 內幕消息 MGM CHINA HOLDINGS LIMITED 2282 6028, 40258, 40634, 5036 股息政策 本公告乃根據證券及期貨條例（第571章）第XIVA部內幕消息條文及香港聯合交易所有 限公司證券上市規則第13.09條而作出。 茲提述美高梅中國控股有限公司（「本公司」）日期為2013年2月28日之公告，內容有關 批准本公司股息政策。 本公司董事會（「董事會」）謹此知會本公司股東及潛在投資者，董事會已於2025年3月 20日批准本公司股息政策之修訂（「經修訂股息政策」）。 茲提述本公司日期為2013年2月28日之公告，內容有關批准本公司股息政策。 董事會謹此知會本公司股東及潛在投資者，董事會已於2025年3月20日批准本公司股息政 策之修訂（「經修訂股息政策」）。 根據經修訂股息政策，本公司擬每年作出總額不超過本公司預期綜合年度利潤50%的半年 度分派，惟須符合下文所述之標準 ...

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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示不會就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 2282 董事會會議召開日期 美高梅中國控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈將於2025年3月20日（星 期四）舉行董事會會議，藉以（其中包括）考慮及批准本公司及其附屬公司截至2024年12月 31日止全年業績及其發佈，以及建議派付末期股息（如有）。 承董事會命 美高梅中國控股有限公司 公司秘書 Antonio MENANO 香港，2025年3月10日 截至本公告刊發日期，本公司的董事如下：何超瓊、William Joseph HORNBUCKLE、 John M. MCMANUS、劉珍伲及馮小峰為執行董事；Daniel J. TAYLOR、Ayesha Khanna MOLINO及Jonathan S. HALKYARD為非執行董事；及黃林詩韻、Russell Francis BANHAM、孟生及劉志敏為獨立非執行董事。 MGM CHINA HOLDINGS LIMITED ...

Investment Rating - The report maintains a "Buy" rating for the company [1][5]. Core Insights - The company's revenue for the full year 2024 reached HKD 31.39 billion, representing a year-on-year growth of 27.2%. Adjusted EBITDA was HKD 9.06 billion, up 25.2% year-on-year, with an EBITDA margin of 28.9%, a slight decrease of 0.5 percentage points compared to the previous year [4][5]. - The company is expected to maintain a market share of approximately 15%, with projected revenues of HKD 33.4 billion and HKD 35.08 billion for 2025 and 2026, respectively, reflecting growth rates of 6.4% and 5.0% [5][7]. - The report highlights a steady growth in Q4 2024, with revenues of HKD 7.92 billion, a 3.2% increase year-on-year, and adjusted EBITDA of HKD 2.13 billion, a decrease of 2.9% year-on-year [5][4]. Financial Performance Summary - **Revenue**: - 2023A: HKD 24.68 billion - 2024E: HKD 31.39 billion (27.2% YoY growth) - 2025E: HKD 33.4 billion (6.4% YoY growth) - 2026E: HKD 35.08 billion (5.0% YoY growth) [7] - **Adjusted EBITDA**: - 2023A: HKD 7.24 billion - 2024E: HKD 9.06 billion (25.2% YoY growth) - 2025E: HKD 9.61 billion (6.1% YoY growth) - 2026E: HKD 10.1 billion (5.0% YoY growth) [7] - **Net Profit**: - 2023A: HKD 2.64 billion - 2024E: HKD 4.5 billion (70.6% YoY growth) - 2025E: HKD 5.35 billion (18.9% YoY growth) - 2026E: HKD 6.1 billion (14.1% YoY growth) [7] - **EBITDA Margin**: - 2023A: 29.3% - 2024E: 28.9% - 2025E: 28.8% - 2026E: 28.8% [7] - **Earnings Per Share (EPS)**: - 2023A: 69.4 HKD cents - 2024E: 118.5 HKD cents - 2025E: 140.8 HKD cents - 2026E: 160.6 HKD cents [7]

我們的控股股東 美高梅國際酒店集團業績 截至2024年12月31日止年度 表格10-K年度報告 本公告乃根據證券及期貨條例（第571章）第XIVA部內幕消息條文及香港聯合交易所有 限公司證券上市規則第13.09及37.47B條刊發。 我們的控股股東美高梅國際酒店集團已於2025年2月18日（紐約時間下午4時15分）或前 後公佈其截至2024年12月31日止年度的年度報告。 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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示不會就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 MGM CHINA HOLDINGS LIMITED 2282 6028, 40258, 40634, 5036 內幕消息 美高梅國際酒店集團已於2025年2月18日（紐約時間下午4時15分）或前後公佈其截至2024 年12月31日止年度的經審核業績（「年度報告」）。為確保美高梅中國全體股東及潛在投資 者均同樣及適時取得有關本集團的資料， 閣下如欲查閱由美高梅國際酒店集團編製並 向美國證交會存檔的年度報告，請瀏覽http://www.s ...

Investment Rating - The report maintains a "Buy" rating for MGM China [1] Core Views - The company's performance in Q4 2024 exceeded expectations, with total revenue reaching HKD 8.71 billion, a 10% increase quarter-on-quarter, and recovering to 128.3% of the same period in 2019 [6] - The company achieved a significant increase in market share, with VIP and mass market gaming revenue growing by 29.9% and 8.0% respectively, leading to an overall market share increase to approximately 15.6% [6] - The report forecasts continued growth in revenue and adjusted property EBITDA for 2024-2026, with target prices set at HKD 16.6 [6] Financial Projections - Total revenue is projected to grow from HKD 24,684.2 million in 2023 to HKD 31,381.9 million in 2024, representing a 369% year-on-year increase [1] - Adjusted property EBITDA is expected to rise from HKD 7,235.3 million in 2023 to HKD 9,244.1 million in 2024, reflecting a 28% increase [1] - The diluted earnings per share are forecasted to increase from HKD 0.69 in 2023 to HKD 1.34 in 2024 [1] Market Performance - The stock closed at HKD 9.71, with a market capitalization of HKD 36,899 million [4] - The stock has a historical price range of HKD 9.00 to HKD 14.92 over the past year [4] Balance Sheet Highlights - The total assets are projected to be HKD 29,181 million in 2023, with a significant portion in non-current assets [7] - The company has a debt ratio of 100.2%, indicating a high level of leverage [5]

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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示不會就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 MGM CHINA HOLDINGS LIMITED 2282 6028, 40258, 40634, 5036 澄清公告 茲提述美高梅中國控股有限公司（「美高梅中國」或「本公司」）日期為2025年2月13日的公 告，內容有關美高梅國際酒店集團第四季度及截至2024年12月31日止年度的未經審核業 績，其中包括根據美國公認會計原則編制及呈列的美高梅中國控股有限公司財務資料 （「原公告」）。除另有界定者外，本澄清公告所用詞彙與原公告所用者具有相同涵義。 美高梅中國 下表載列美高梅中國的主要博彩統計數據： | | 截至12月31日止三個月 | | | | --- | --- | --- | --- | | | 2024年 | 2023年 | 變動百分比 | | | （百萬美元） | | | | 娛樂場收益 | 885 | 849 | 4% | | 主場地賭枱投注額 | 3,582 | 3,762 | (5)% ...

Investment Rating - The report maintains a "Buy" rating for MGM China [6][7] Core Views - The company's performance in Q4 2024 exceeded expectations, with total revenue reaching HKD 79.2 billion, a 9.3% increase quarter-on-quarter, and a recovery to 139.1% of Q4 2019 levels [6] - The adjusted property EBITDA for Q4 2024 was HKD 21.3 billion, a 7.2% quarter-on-quarter increase, surpassing market expectations by 3% [6] - The company is expected to attract more inbound tourists due to the opening of "MGM 2049" and the renovation of suites, positively impacting revenue [6] Financial Forecasts and Valuation - Total revenue projections for 2024-2026 are HKD 31,381.9 million, HKD 33,635.5 million, and HKD 35,193.5 million respectively, with year-on-year growth rates of 27%, 7%, and 5% [6][7] - The adjusted property EBITDA forecasts for the same period are HKD 9,244.1 million, HKD 10,206.2 million, and HKD 10,850.7 million, with year-on-year growth rates of 28%, 10%, and 6% [6][7] - The current stock price corresponds to EV/adjusted property EBITDA multiples of 6.0, 5.4, and 5.1 for 2024-2026 [6][7]

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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示不會就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 MGM CHINA HOLDINGS LIMITED 2282 6028, 40258, 40634, 5036 內幕消息 我們的控股股東美高梅國際酒店集團第四季度及 截至2024年12月31日止年度的未經審核業績 本公告乃根據證券及期貨條例（第571章）第XIVA部內幕消息條文及香港聯合交易所有 限公司證券上市規則第13.09及37.47B條刊發。 我們的控股股東美高梅國際酒店集團已於2025年2月12日（紐約時間下午4時15分）或前 後公佈其第四季度及截至2024年12月31日止年度的未經審核業績，其中包括根據美國 公認會計原則編制及呈列的美高梅中國控股有限公司財務資料。 本公告乃美高梅中國控股有限公司（「美高梅中國」或「本公司」）根據證券及期貨條例（第 571章）第XIVA部內幕消息條文及香港聯合交易所有限公司（「香港聯交所」）證券上市規則 第13.09及37.47B條刊發。 美高梅中國的控股股東美 ...