【财华社讯】长和(00001.HK)公布，截至2025年6月30日止六个月，按照IFRS 16后基准，收益总额约 2406.63亿港元，同比增长3.45%；普通股股东应占呈报溢利8.52亿港元，同比减少91.65%；普通股股东 应占基本溢利113.21亿港元，同比增长10.94%；每股盈利2.96港元。拟派中期股息每股0.71港元。 本文源自财华网 ...

Financial Highlights - Revenue increased by 3% to HK$2407 billion in 1H 2025[6] - Net earnings decreased by 92% to HK$09 billion in 1H 2025, but underlying net earnings increased by 11%[6] - EPS decreased by 92% to $022 in 1H 2025, but underlying EPS increased by 11%[6] - EBITDA decreased by 14% to $450 billion in 1H 2025, but underlying EBITDA increased by 7%[7] - Operating Free Cash Flow increased by 11% to $218 billion in 1H 2025[7] - Free Cash Flow increased by 248%[17] Segment Performance - Ports and Related Services revenue increased by 9% to HK$23597 million[71], with throughput increasing by 4% to 440 million TEUs[26] - Retail revenue increased by 8% to HK$98840 million[71], with a 2% increase in store numbers to 16935[28] - Infrastructure revenue increased by 6% to HK$28627 million[71] - CK Hutchison Group Telecom revenue increased by 5% to HK$45012 million[71] - Finance & Investments and Others revenue decreased by 10% to HK$44587 million[71] Telecommunications - 3 Group Europe - 3 Group Europe's total revenue increased by 5% to HK$41958 million[38] - Underlying EBITDA increased by 7% to HK$11816 million[38] - Active customer base increased by 40% to 566 million[108] Financial Position - Liquid assets totaled $1373 billion, sufficient to cover all debt maturing before December 2028[21] - Net Debt Ratio was 147%[7] - Group GHG performance reduced scope 1 + 2 emissions by approximately 20% against 2020 baseline[54]

Core Viewpoint - The former chairman of China Tower, Tong Jilu, and his family have been reported missing since late May 2023, raising concerns about potential investigations involving his son at China International Capital Corporation (CICC) [1][4]. Group 1: Company Background - China Tower was established in July 2014 as a state-owned enterprise to enhance telecommunications infrastructure and promote shared resources among major telecom operators [2]. - The company primarily focuses on the construction, maintenance, and operation of communication towers and related facilities, playing a crucial role in China's 5G infrastructure development [2]. - Tong Jilu served as both chairman and general manager of China Tower, consolidating significant power within the company until he stepped down as general manager in June 2019 [2][3]. Group 2: Financial Performance - In the first half of 2025, China Tower reported a revenue of 49.601 billion yuan, reflecting a year-on-year growth of 2.8% [5][6]. - For the fiscal year 2024, the company achieved a revenue of 97.772 billion yuan, marking a 4.0% increase compared to the previous year, with major contributions from the three state-owned telecom operators [6]. - As of the end of 2024, China Tower's total assets exceeded 330 billion yuan, with a net asset value surpassing 200 billion yuan, solidifying its position as the largest telecommunications infrastructure service provider globally [6].

智通财经APP讯，长和(00001)发布公告，该公司将于2025年9月25日派发中期股息每股0.71港元。 ...

Group 1 - The company reported total revenue of HKD 240.663 billion for the first half of 2025, representing a year-on-year increase of 3.45% [1] - The reported profit attributable to ordinary shareholders was HKD 0.852 billion, a significant decrease of 91.65% year-on-year, while the basic profit attributable to ordinary shareholders increased by 10.94% to HKD 11.321 billion [1] - The interim dividend proposed is HKD 0.71 per share [1] Group 2 - The company's basic net profit, calculated under IFRS 16 before adjustments, grew by 11% year-on-year to HKD 11.362 billion [1] - The growth was driven by a 7% increase in basic EBITDA and a 9% increase in EBIT compared to the first half of 2024, primarily due to strong performance in the port sector, improvements in retail, increased contributions from infrastructure, and favorable results from CK Hutchison Group Telecom and treasury operations [1] - The company faced adverse impacts on growth due to falling commodity prices and significant maintenance activities that reduced contributions from Cenovus Energy [1] Group 3 - The company recognized a one-time non-cash loss of HKD 10.922 billion related to the UK merger under IFRS 16 before adjustments [2] - After accounting for this loss, the reported profit attributable to ordinary shareholders for the six months ended June 30, 2025, was HKD 0.44 billion [2] - The net cash received from the merger was approximately GBP 1.3 billion [2]

Core Insights - The company reported total revenue of HKD 240.663 billion for the six months ending June 30, 2025, representing a year-on-year growth of 3% [1] - EBIT totaled HKD 23.161 billion, down from HKD 30.955 billion in the same period last year [1] - Basic earnings increased to HKD 11.321 billion, reflecting an 11% year-on-year growth [1] - The board proposed an interim dividend of HKD 0.71 per share, compared to HKD 0.688 per share for the period ending June 30, 2024 [1]

EF001 EF001 | 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 長江和記實業有限公司之董事為: | | | 執行董事: | | | 李澤鉅先生 (主席) | | | 霍建寧先生 (副主席) | | | 陸法蘭先生 (集團聯席董事總經理兼集團財務董事) | | | 黎啟明先生 (集團聯席董事總經理) | | | 葉德銓先生 (副董事總經理) | | | 甘慶林先生 (副董事總經理) | | | 施熙德女士 | | | 甄達安先生 | | | 非執行董事: | | | 周近智先生 | | | 周胡慕芳女士 | | | 李業廣先生 | | | 獨立非執行董事: | | | 周靜宜女士 | | | 蓆紀倫先生 | | | 斐歷嘉道理先生 | | | 梁劉柔芬女士 | | | 戴保羅先生 | | | 詹婧翎女士 | | | 黃桂林先生 | | 第 2 頁 共 2 頁 v 1.1.1 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司 ...

[Performance Highlights and Chairman's Report](index=1&type=section&id=I.%20Performance%20Highlights%20and%20Chairman's%20Report) [Performance Highlights](index=1&type=section&id=1.1%20Performance%20Highlights) This section outlines the unaudited results for the six months ended June 30, 2025, including revenue, EBITDA, EBIT, reported profit, underlying profit, and interim dividend per share, compared to the same period last year, providing data under both IFRS 16 post-adoption and pre-adoption accounting standards 2025 H1 Key Financial Data (Post-IFRS 16) | Metric | 2025 (HKD million) | 2024 (HKD million) | Change | | :--- | :--- | :--- | :--- | | Total Revenue | 240,663 | 232,644 | - | | Total EBITDA | 56,983 | 63,422 | - | | Total EBIT | 23,161 | 30,955 | - | | Reported Profit (Underlying) | 11,321 | 10,205 | +11% | | Reported Profit (One-off Items) | (10,469) | - | - | | Reported Profit (Total) | 852 | 10,205 | -92% | | Reported Earnings Per Share | 0.22 | 2.66 | -92% | | Interim Dividend Per Share | 0.710 | 0.688 | +3% | 2025 H1 Key Financial Data (Pre-IFRS 16) | Metric | 2025 (HKD million) | 2024 (HKD million) | Change (Reported Currency) | Change (Local Currency) | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | 240,663 | 232,644 | +3% | +3% | | Total EBITDA | 44,998 | 52,201 | -14% | -15% | | Total EBIT | 20,487 | 28,843 | -29% | -30% | | Reported Profit | 440 | 10,192 | -96% | -98% | - The Group has adopted International Financial Reporting Standard 16 'Leases' ('IFRS 16') for its statutory reporting, while its management reporting continues to adopt the previous leasing accounting standard, International Accounting Standard 17 'Leases' ('IAS 17')[2](index=2&type=chunk) [Chairman's Report](index=2&type=section&id=1.2%20Chairman's%20Report) The Chairman's Report highlights a challenging economic environment in the first half of 2025, yet the Group achieved robust underlying profit growth, primarily driven by the merger of its UK telecom business with Vodafone, and strong performance in the Ports, Retail, and Infrastructure divisions, also noting a one-off non-cash loss and interim dividend distribution [Macroeconomic Environment and Group Performance](index=2&type=section&id=1.2.1%20Macroeconomic%20Environment%20and%20Group%20Performance) The economic environment in the first half of 2025 was challenging due to escalating geopolitical and trade tensions and weak consumer sentiment, with the Group's performance favorably impacted by exchange rate fluctuations but unfavorably by commodity prices, achieving a robust 11% growth in underlying profit net on a pre-IFRS 16 basis - The economic situation in the first half of **2025** was challenging, with escalating geopolitical and trade tensions, coupled with weak consumer sentiment[3](index=3&type=chunk) - Overall, exchange rate fluctuations had a favorable impact on performance, while commodity price movements did not[3](index=3&type=chunk) 2025 H1 Underlying Profit Growth (Pre-IFRS 16) | Metric | 2025 H1 (HKD million) | 2024 H1 (HKD million) | Change | | :--- | :--- | :--- | :--- | | Underlying Net Profit | 11,362 | 10,192 | +11% | | Underlying EBITDA | 55,920 | 52,201 | +7% | | Underlying EBIT | 31,409 | 28,843 | +9% | - Growth was driven by enhanced performance in the Ports division, improvements in the Retail division, increased contributions from the Infrastructure division, and strong performance from CK Hutchison Group Telecom and treasury operations[3](index=3&type=chunk) [UK Telecom Business Merger](index=2&type=section&id=1.2.2%20UK%20Telecom%20Business%20Merger) The Group completed the merger of its UK telecom business with Vodafone UK in May 2025, recognizing a one-off non-cash loss but receiving approximately GBP 1.3 billion in net cash proceeds - The Group completed a major strategic transaction in May **2025**, the merger of its UK telecom business with Vodafone UK ('UK Merger')[3](index=3&type=chunk) - On a pre-IFRS **16** basis, the Group recognized a one-off non-cash loss and related impact of **HKD 10.922 billion** from the UK Merger[4](index=4&type=chunk) - The Group also received net cash proceeds of approximately **GBP 1.3 billion** from the merger[4](index=4&type=chunk) Impact of UK Merger on Reported Profit | Metric | 2025 H1 (HKD million) | 2024 H1 (HKD million) | Change | | :--- | :--- | :--- | :--- | | Reported Profit (Pre-IFRS 16) | 440 | 10,192 | -96% | | Reported Profit (Post-IFRS 16) | 852 | 10,205 | -92% | | Reported Earnings Per Share (Post-IFRS 16) | 0.22 | 2.66 | -92% | [Dividend Policy](index=2&type=section&id=1.2.3%20Dividend%20Policy) The Board recommended an interim dividend of HKD 0.71 per share, representing an increase from the same period last year Interim Dividend Per Share | Metric | 2025 H1 (HKD) | 2024 H1 (HKD) | Change | | :--- | :--- | :--- | :--- | | Interim Dividend Per Share | 0.710 | 0.688 | +3% | - The Board recommended an interim dividend to be paid on Thursday, September **25**, **2025**, to shareholders whose names appear on the Company's register of members on Tuesday, September **16**, **2025**[5](index=5&type=chunk) [Business Segment Performance](index=3&type=section&id=II.%20Business%20Segment%20Performance) [Ports and Related Services](index=3&type=section&id=2.1%20Ports%20and%20Related%20Services) The Ports and Related Services division reported a 9% year-on-year increase in revenue, with EBITDA and EBIT growing by 10% and 12% respectively in the first half of 2025, driven by higher throughput, increased storage income, and effective cost management, with significant full-year profit growth expected Ports and Related Services Division 2025 H1 Performance | Metric | 2025 H1 (HKD million) | 2024 H1 (HKD million) | Change | Change (Local Currency) | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | 23,597 | 21,594 | +9% | +10% | | EBITDA | 8,719 | 7,938 | +10% | +8% | | EBIT | 6,508 | 5,785 | +12% | +11% | | Throughput (million TEUs) | 44.0 | 42.3 | +4% | - | - The increase in throughput was mainly driven by Yantian Port, Shanghai Port, and container terminals in Asia and the Middle East[7](index=7&type=chunk) - Storage income from Mexico and European ports surged by **27%**[7](index=7&type=chunk) - The Ports division made significant progress in reducing its environmental footprint, with Scope **1** and **2** emissions per TEU decreasing by nearly **4%** year-on-year, and diesel consumption reducing by **5%** year-on-year[37](index=37&type=chunk) [Retail](index=4&type=section&id=2.2%20Retail) The Retail division's total revenue grew by 8%, with EBITDA and EBIT increasing by 12% and 14% respectively in the first half of 2025, primarily driven by significant growth in health and beauty businesses in the UK, Poland, and the Philippines, though China's business was affected by weak consumer demand, with future growth strategies focusing on optimizing store locations, expanding online presence, and enhancing customer experience Retail Division 2025 H1 Performance | Metric | 2025 H1 (HKD million) | 2024 H1 (HKD million) | Change | Change (Local Currency) | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | 98,840 | 91,469 | +8% | +6% | | EBITDA | 7,974 | 7,089 | +12% | +8% | | EBIT | 6,180 | 5,433 | +14% | +9% | | Number of Stores | 16,935 | 16,548 | +2% | - | - Significant growth was observed in the health and beauty businesses in the UK, Poland, and the Philippines[9](index=9&type=chunk) - The China health and beauty business continued to underperform due to weak consumer demand, resulting in a **4%** reduction in store count[9](index=9&type=chunk)[39](index=39&type=chunk) - The number of dark stores for the China health and beauty business increased from **131** as of December **31**, **2024**, to **394** as of June **30**, **2025**, further enhancing online business capabilities[39](index=39&type=chunk) - The

Core Points - The 2025 Shanghai Cooperation Organization (SCO) Finance Ministers and Central Bank Governors meeting was held on June 3 in Beijing, focusing on deepening regional financial cooperation [1][3] - The meeting discussed global and regional economic and financial challenges, sharing policy practices related to fiscal and monetary issues, green transformation, and financial development [3] Group 1 - The meeting supported actions to enhance regional financial cooperation, including the establishment of the SCO Development Bank and the creation of an SCO financial think tank network [3] - Discussions included improving local currency settlement arrangements and deepening digital inclusive finance cooperation [3] - The meeting emphasized the need for member countries to uphold multilateralism and strengthen macroeconomic policy coordination [3] Group 2 - The current global landscape is characterized by rapid changes, including a new round of technological revolution and industrial transformation, presenting new cooperation opportunities for SCO member countries [3] - Challenges such as trade protectionism, globalization backlash, geopolitical conflicts, and climate change pose significant threats to global and regional economic stability [3] - The meeting aimed to foster a closer SCO community and contribute to a new phase of financial cooperation among member states [3]

Core Points - Chen Yong, the chairman of Shahe Co., Ltd., has resigned due to work adjustments, effective immediately, and will no longer hold any position within the company [2][4] - The company will promptly complete the election of a new director and chairman [2] - Shahe Co., Ltd. has faced significant business contraction, with Q1 revenue of only 7.94 million, a 96.23% year-on-year decline, and a net loss of 9.538 million, a 120.56% year-on-year decrease [5] Company Background - Shahe Co., Ltd. was established in July 1987, primarily engaged in real estate development and property management, with actual control by the Shenzhen State-owned Assets Supervision and Administration Commission [5] - Chen Yong has a strong background in real estate management, having held various positions within the industry before becoming chairman in July 2023 [4] Performance Challenges - The company is expected to report a net loss of 18 to 20 million for the first half of the year, compared to a profit of 54.11 million in the same period last year [5] - The decline in performance is attributed to a decrease in the area and revenue from real estate project handovers [5] - Market analysts indicate that Chen Yong's departure comes at a critical time for the company, which is under pressure from both performance issues and industry adjustments [5]