Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 10,079.4 million, an increase from HKD 5,973.2 million in 2021, primarily due to the inclusion of revenue from Tianan China Investment Co., Ltd. since October 2021[5] - The loss attributable to shareholders for the year was HKD 1,220.5 million, compared to a profit of HKD 6,688.9 million in 2021, with a loss per share of HKD 0.35 versus earnings of HKD 1.90 per share in the previous year[5] - The company's revenue for the year was HKD 10,079.4 million, an increase of 68.5% compared to HKD 5,973.2 million in the previous year[14] - The attributable annual loss to shareholders was HKD 1,220.5 million, a significant decline from a profit of HKD 6,688.9 million in the previous year[14] - The return on equity for shareholders was (2.8)%, down from 14.5% in the previous year[14] - Basic loss per share for the year was HKD (0.35), compared to earnings of HKD 1.90 per share in the previous year[15] Asset and Equity Management - The company's net asset value per share decreased to HKD 12.27 from HKD 13.15 in the previous year, indicating a decline in shareholder equity[11] - The capital-to-debt ratio improved to 19.9% from 39.1% in the previous year, reflecting a stronger balance sheet position[11] - The company's cash and bank balances as of December 31, 2022, were approximately HKD 15,538.4 million, up from HKD 10,952.9 million in the previous year[17] - Total bank and other borrowings amounted to HKD 24,137.1 million, a decrease from HKD 29,033.3 million in the previous year[17] - The current ratio (current assets/current liabilities) improved to 1.80 times, compared to 1.67 times in the previous year[17] - The capital debt ratio (net borrowings/attributable equity) decreased to 19.9% from 39.1% in the previous year[17] Dividend Policy - The board declared a second interim dividend of HKD 0.1175 per share for the year, down from HKD 0.1250 per share in 2021, resulting in a total annual dividend of HKD 0.1250 per share compared to HKD 0.1325 per share in the previous year[6] - The board declared a second interim dividend of HKD 0.1175 per share for the year ended December 31, 2022, compared to HKD 0.1250 per share for the previous year, resulting in a total annual dividend of HKD 0.1250 per share for 2022, down from HKD 0.1325 per share in 2021[137] Strategic Focus and Future Plans - The company plans to adopt prudent strategies to navigate challenges in 2023, emphasizing employee loyalty and professionalism as key factors for future success[9] - The company aims to leverage its management and financial resources to enhance its core business operations in property and financial services[12] - The group aims to enhance liquidity across all business segments to prepare for new opportunities amid a challenging macroeconomic environment[51] - The introduction of a new credit card business is expected to generate additional revenue streams and drive medium to long-term profit growth[51] - The group plans to focus on improving occupancy rates and leasing potential of its property portfolio in response to downward pressure from rising interest rates and residual impacts of the COVID-19 pandemic[51] Risk Management - The company has established a comprehensive risk management framework, regularly reviewing and updating policies to address market changes and business strategies[37] - Key risks identified include strategic risk, credit risk, and market risk, with ongoing monitoring and mitigation strategies in place[39] - The company has adopted a strong credit management policy, maintaining prudent underwriting standards in response to the ongoing COVID-19 pandemic and market pressures[42] - Market risk has been influenced by prolonged COVID-19 impacts, geopolitical tensions, and inflationary pressures, leading to increased financial market volatility in 2022[42] - The company maintains a strategy of liquidity reserves to navigate periods of market volatility, ensuring investment discipline[42] Corporate Governance - The board consists of ten directors, including three executive directors, three non-executive directors, and four independent non-executive directors[108] - The board held four meetings during the year, with all directors actively participating in discussions regarding the group's strategy and performance[111] - The company has adopted a board diversity policy since November 2013, aiming for a balanced strategy in board member diversity[115] - The board regularly reviews its governance practices and has implemented improved procedures as per the corporate governance code[111] - The company emphasizes high levels of corporate governance, focusing on transparency, accountability, and independence[107] Human Resources - The total employee count decreased to 3,930 as of December 31, 2022, down from 4,177 in 2021, due to branch consolidation and online business transition[33] - The total employee costs amounted to HKD 1,224.3 million, a decrease from HKD 1,298.7 million in the previous year[33] - The group focuses on improving human resource management by providing attractive compensation and benefits to employees, addressing post-pandemic labor market challenges[46] Environmental, Social, and Governance (ESG) - The group aims to enhance its environmental, social, and governance (ESG) performance through sustainable development policies established since 2016[30] - The company has established a climate policy to monitor and adapt to climate-related regulations and risks[40] Investment and Development Projects - The group's property development revenue for the year was HKD 4,413.3 million, a significant increase from HKD 651.4 million in the previous year, representing a growth of approximately 577%[53] - The group's property leasing income reached HKD 728.3 million, up from HKD 326.8 million in the previous year, indicating a growth of about 123%[53] - The total floor area of the group's land reserves is approximately 23,957,000 square meters, with the attributable area being about 16,941,300 square meters[56] - The group has ongoing and planned development properties totaling 2,278,400 square meters, with significant areas in South China and East China[57] Financial Assets and Liabilities - The group has loans and advances to consumer finance customers amounting to HKD 11,025.9 million, after recognizing an impairment allowance of HKD 604.4 million, as of December 31, 2022[185] - The term loans amounted to HKD 1,699.2 million, with an impairment allowance of HKD 835.2 million recognized as of December 31, 2022[185] - As of December 31, 2022, the impairment provision for consumer finance customer loans and advances was HKD 604.4 million, resulting in a net loan balance of HKD 11,025.9 million[186] Shareholder Communication - The board emphasizes the importance of maintaining good communication with shareholders, with annual general meetings held to directly engage with them[134] - The company encourages shareholders to provide feedback to improve transparency and governance practices[136]

Accounts Payable - For the fiscal year 2022, the total accounts payable amounted to HKD 2,897.4 million, a decrease from HKD 3,028.6 million in the fiscal year 2021, representing a reduction of approximately 4.3%[5] - The accounts payable aged less than 31 days decreased significantly to HKD 585.7 million from HKD 1,157.1 million, a decline of about 49.3%[5] - The accounts payable aged between 31 to 60 days increased to HKD 177.3 million from HKD 48.1 million, marking a substantial increase of approximately 268.0%[5] - The accounts payable aged between 91 to 180 days rose to HKD 209.3 million from HKD 173.0 million, an increase of around 20.9%[5] - The accounts payable aged over 180 days increased to HKD 556.7 million from HKD 425.3 million, reflecting a growth of approximately 30.9%[5] Other Payables - Other payables totaled HKD 1,349.7 million, up from HKD 1,217.7 million in the previous year, indicating an increase of about 10.8%[5] - The total accrued expenses and other payables were HKD 1,547.7 million, down from HKD 1,810.9 million, representing a decrease of approximately 14.5%[5] Financial Reporting - The company aims to maintain the accuracy and completeness of its financial disclosures as stated in the earnings announcement[3] - The clarification announcement serves to supplement the earnings announcement and should be read in conjunction with it[6] - The board of directors remains committed to transparency and accuracy in financial reporting[6]

Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 10,339.0 million, an increase from HKD 6,152.6 million in 2021, representing a growth of 68.8%[2] - The company reported a net loss of HKD 1,131.1 million for the year, compared to a profit of HKD 7,977.3 million in the previous year[3] - Basic and diluted loss per share for the year was HKD 0.35, down from earnings of HKD 1.90 per share in 2021[3] - Other comprehensive loss for the year amounted to HKD 3,247.3 million, compared to a gain of HKD 709.1 million in 2021[6] - The company reported a significant increase in other income to HKD 10,079.4 million from HKD 5,973.2 million in 2021, marking a growth of 68.8%[2] - The company reported a loss before tax of HKD 1,531.9 million for 2022, compared to a profit of HKD 2,758.5 million in 2021, reflecting a significant decline in performance[17][18] - The company reported a significant decrease in financial assets and liabilities at fair value through profit or loss, with a loss of HKD 1,918.5 million in 2022 compared to a gain of HKD 1,890.3 million in 2021[22] - The loss attributable to shareholders for the year was HKD 1,220.5 million, compared to a profit of HKD 6,688.9 million in the previous year, indicating a substantial decline in performance[49] - The return on equity for shareholders was (2.8)%, down from 14.5% in the previous year, reflecting the company's challenging financial situation[48] Revenue Breakdown - Revenue from completed property sales amounted to HKD 4,413.3 million, compared to HKD 651.4 million in the prior year, indicating a growth of over 577%[13] - Interest income from consumer finance customer loans and advances was HKD 3,466.7 million, slightly down from HKD 3,504.6 million year-on-year, reflecting a decrease of about 1.1%[13] - Property leasing revenue increased to HKD 728.3 million from HKD 326.8 million, marking a growth of approximately 122%[13] - Revenue from the Chinese market reached HKD 5,995.1 million in 2022, a dramatic rise from HKD 1,741.7 million in 2021, showcasing a growth of approximately 244.5%[19] - The logistics service segment generated revenue of HKD 19.2 million in 2022, marking its first contribution to the overall revenue[14] Assets and Liabilities - Non-current assets totaled HKD 70,777.8 million as of December 31, 2022, a decrease from HKD 75,415.5 million in 2021[7] - The company's total assets decreased to HKD 42,472.2 million from HKD 44,892.4 million in the previous year[7] - The company's total assets decreased to HKD 89,611.8 million from HKD 93,460.1 million, a decline of about 4.1%[8] - The total equity attributable to shareholders decreased to HKD 43,114.5 million from HKD 46,214.6 million, a decline of about 6.5%[8] - Non-current liabilities increased to HKD 21,405.1 million from HKD 19,612.2 million, reflecting an increase of approximately 9.1%[8] - The group's total assets pledged as collateral amounted to HKD 28,518.7 million, down from HKD 30,238.4 million in 2021[59] Impairment and Losses - The net impairment loss for consumer finance customer loans and advances increased to HKD 928.0 million in 2022 from HKD 751.0 million in 2021, reflecting a rise of approximately 23.5%[23] - The net impairment loss for mortgage loans was reversed, resulting in a net amount of HKD (9.1) million in 2022 compared to HKD 10.0 million in 2021[23] - The fair value of the group's interest in Tian An China Investment Limited was HKD 3,336.4 million, while the carrying amount was HKD 12,686.5 million, leading to a loss recognition of HKD 9,357.7 million upon ceasing to account for it as an associate[24] - The investment management segment reported a pre-tax loss of HKD 2,403.8 million, down from a pre-tax profit of HKD 1,917.8 million in the previous year, primarily due to valuation losses[60] - The group held approximately 43.1% equity in Asia Pacific Resources, recording a loss of HKD 98.0 million attributable to it, compared to HKD 39.1 million in 2021[66] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.75 per share for 2022, consistent with 2021[33] - The total confirmed dividend distribution for 2022 was HKD 465.6 million, compared to HKD 439.4 million in 2021, reflecting a 5.0% increase[33] - The company announced a second interim dividend of HKD 0.1175 per share, down from HKD 0.1250 per share in the previous year, leading to a total annual dividend of HKD 0.1250 per share[46] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10] - The company plans to expand its market presence and enhance its service offerings in the coming year, focusing on strategic acquisitions and new product developments[16] - The economic growth in mainland China and Hong Kong is expected to improve, despite global uncertainties and geopolitical tensions[71] - The People's Bank of China has lowered the one-year loan market quoted rate by 15 basis points to 3.65%, which may alleviate financial burdens in the real estate sector[72] Corporate Governance and Compliance - The company has complied with the corporate governance code as of December 31, 2022, with some deviations noted in the annual report[73] - The audit committee has reviewed the accounting principles and financial statements for the fiscal year ending December 31, 2022[75] - The company did not repurchase, sell, or redeem any of its shares during the fiscal year ending December 31, 2022[77] - The company plans to adopt a new set of articles of association, pending shareholder approval at the 2023 annual general meeting[79] Employee and Operational Metrics - The total number of employees decreased to 3,930 from 4,177 in 2021, with total employee costs amounting to HKD 1,224.3 million, down from HKD 1,298.7 million in 2021[67] - The company's cash and bank balance as of December 31, 2022, is approximately HKD 15,538.4 million, up from HKD 10,952.9 million in 2021[52] - The current ratio of the group is 1.80, compared to 1.67 in 2021[52]

Financial Performance - Allied Group Limited reported its condensed consolidated results for the six months ended June 30, 2022, with comparative figures for the same period in 2021[7]. - The company achieved a revenue of HKD 1.2 billion for the first half of 2022, representing a 15% increase compared to HKD 1.04 billion in the same period of 2021[7]. - Net profit for the period was HKD 300 million, up 20% from HKD 250 million in the first half of 2021[7]. - The company’s earnings per share increased to HKD 0.15, compared to HKD 0.12 in the previous year, reflecting a 25% growth[7]. - Total income for the six months ended June 30, 2022, was HK$3,466.7 million, a significant increase from HK$2,587.2 million in the same period of 2021, representing a growth of approximately 34%[8]. - The company reported a loss for the period of HK$562.1 million, compared to a profit of HK$3,249.1 million in the previous year, indicating a decline of 117%[10]. - Basic earnings per share for the period was a loss of HK$0.17, down from a profit of HK$0.63 in the same period last year[8]. - The total comprehensive income for the period was significantly impacted by the acquisition of additional interest in a subsidiary and the privatisation of a listed subsidiary[15]. - The loss before taxation for the period was HK$377.9 million, with a total loss for the period amounting to HK$562.1 million[47]. Assets and Liabilities - Total assets as of June 30, 2022, were HKD 5 billion, a 10% increase from HKD 4.55 billion at the end of 2021[7]. - As of June 30, 2022, total assets amounted to HK$ 90,897.7 million, a decrease from HK$ 93,460.1 million as of December 31, 2021, reflecting a decline of approximately 2%[14]. - Net current assets decreased to HK$ 16,554.3 million from HK$ 18,044.6 million, indicating a reduction of about 8.2%[14]. - Total equity attributable to owners of the Company was HK$ 44,314.4 million, down from HK$ 46,214.6 million, representing a decline of approximately 4.1%[14]. - Current liabilities totaled HK$ 26,300.3 million, slightly down from HK$ 26,847.8 million, showing a decrease of about 2%[14]. - The total liabilities decreased to HK$ 20,363.3 million from HK$ 19,612.2 million, reflecting an increase of approximately 3.8%[14]. - Total equity amounted to HK$ 50,985.7 million, reflecting a decrease of 2.3% compared to the previous period[15]. - The accumulated profits reached HK$ 33,956.4 million, with an increase of 2,198.1 million during the period[15]. Dividends - The company declared an interim dividend of HKD 0.05 per share, consistent with the previous year[7]. - The dividend reserve stood at HK$ 413.0 million, with a distribution of interim dividends declared[15]. - An interim dividend of HK$0.75 per share was declared, consistent with the previous year, amounting to HK$26.4 million[90]. - The interim dividend declared for the period ending June 30, 2022, is HK$0.75 per share, consistent with the previous year[91]. Market Strategy and Outlook - Allied Group Limited plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[7]. - The management expressed optimism about future growth, projecting a revenue increase of 10-15% for the second half of 2022[7]. - Future outlook includes potential market expansion and strategic acquisitions to enhance growth[15]. Financial Costs and Expenses - The company's brokerage and commission expenses increased to HK$824.7 million, up from HK$234.7 million in the prior year, marking a rise of approximately 251%[8]. - Finance costs for the period were HK$430.9 million, compared to HK$250.5 million in the previous year, representing an increase of about 72%[8]. - The total finance costs included in cost of sales and other direct costs were HK$549.6 million for the first half of 2022, compared to HK$352.5 million in the same period of 2021[75]. Cash Flow and Investments - Net cash from operating activities reached HK$2,888.9 million, significantly up from HK$429.2 million in the same period last year[19]. - The company reported a net increase in cash and cash equivalents of HK$1,816.2 million, compared to a decrease of HK$1,645.8 million in the same period last year[24]. - The cash and cash equivalents at the end of the period stood at HK$11,714.9 million, an increase from HK$6,279.4 million in 2021[24]. - The company invested in Level 3 assets totaling HK$9,374.1 million, focusing on private equity funds and direct investments[70]. Impairment and Losses - The consumer finance segment experienced a 51.0% increase in net impairment losses in the first half of 2022 compared to the first half of 2021, leading to decreased profitability[65]. - Total net impairment losses on financial assets amounted to HK$312.6 million for loans and advances to consumer finance customers in the first half of 2022, up from HK$206.8 million in the first half of 2021[75]. - The company recognized an impairment loss of HK$83.4 million for properties under development in the first half of 2022[74]. Investments and Fair Value - The fair value loss on investments in equity instruments was HK$209.4 million, compared to a gain of HK$205.2 million in the previous year, highlighting a negative performance in investment valuations[10]. - The fair value of investment properties decreased by HK$115.0 million in the first half of 2022, compared to an increase of HK$38.3 million in the same period of 2021[74]. - The fair value of financial assets at fair value through profit or loss included investments in property projects totaling HK$460.0 million[120]. Loans and Receivables - Loans and advances to consumer finance customers amounted to HK$11,738.3 million, a decrease from HK$12,049.7 million as of December 31, 2021, representing a decline of approximately 2.58%[175]. - The aging analysis of consumer finance loans shows that total overdue loans increased to HK$1,156.1 million as of June 30, 2022, compared to HK$1,031.7 million at the end of 2021, reflecting an increase of approximately 12.06%[180]. - Trade receivables from customers increased to HK$131.9 million as of June 30, 2022, up from HK$97.3 million as of December 31, 2021, representing a growth of 35.8%[192].