Conference Call Participants Operator Good afternoon. Welcome to the live webcast of CK Hutchison 2022 Final Results Presentation. Today, our speakers are Mr. Victor Li, our Chairman and Group Co-Managing Director; Mr. Canning Fok, Group CoManaging Director; Mr. Frank Sixt, Group Finance Director and Deputy Managing Director; Mr. Dominic Lai, Deputy Managing Director of CK Hutchison and Group Managing Director of A.S. Watson Group; and Malina Ngai, CEO of Asia and Europe of A.S. Watson and Group COO of A.S. ...

Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 457,229 million, an increase from HKD 445,383 million in 2021, representing a growth of approximately 2%[2] - EBITDA for the same period was HKD 142,132 million, up from HKD 135,653 million in 2021, reflecting a growth of about 5%[2] - Reported profit attributable to shareholders was HKD 36,680 million, compared to HKD 33,484 million in 2021, marking a 10% increase[2] - Basic earnings per share for 2022 was HKD 9.57, an increase of 10% from HKD 8.70 in 2021[5] - The group reported a net profit of HKD 34,869 million for 2022, compared to HKD 33,500 million in 2021[60] - The company reported a significant increase in deferred tax expenses, which rose by 243% to HKD 6,670 million[19] - The total tax expense for 2022 was HKD 8,274 million, significantly higher than HKD 2,230 million in 2021[100] Dividends - The board proposed a final dividend of HKD 2.086 per share, up 12% from HKD 1.860 in the previous year, leading to a total annual dividend of HKD 2.926 per share, a 10% increase from HKD 2.660 in 2021[2][6] - The company made a cash payment of HKD 10,353 million in dividends to ordinary shareholders in 2022, compared to HKD 9,627 million in 2021, reflecting an increase of about 7.5%[87] Segment Performance - The retail department operated 16,142 stores across 28 markets at the end of 2022, a 2% decrease from the previous year, with total revenue of HKD 169.64 billion, EBITDA of HKD 14.39 billion, and EBIT of HKD 11.04 billion, reflecting decreases of 2%, 11%, and 11% respectively in reported currency[8] - CK Hutchison Group Telecom reported revenue of HKD 83.29 billion, a 10% decrease from 2021, with EBITDA of HKD 32.19 billion and EBIT of HKD 12.83 billion, reflecting decreases of 25% and 45% respectively in reported currency[11] - The infrastructure department's contribution showed a 3% increase in net profit attributable to shareholders, amounting to HKD 7.748 billion, despite rising financial costs due to interest rate increases[10] - The telecommunications segment in Europe generated HKD 23,864 million, down 20% from HKD 29,892 million in 2021[60] Asset and Liability Management - Total assets decreased from HKD 1,032,113 million in 2021 to HKD 971,922 million in 2022, representing a decline of approximately 5.9%[33] - The company's total liabilities decreased to HKD 272,302 million from HKD 320,903 million in 2021, reflecting a decline of approximately 15.1%[86] - The net debt to total capital ratio improved to 16.7% from 20.3% year-over-year, reflecting a stronger financial position[15] Impairments and Gains - The company recorded a net gain of HKD 9,700 million from one-off items, including HKD 15,800 million from the sale of UK tower assets and HKD 6,100 million from the merger with Indonesian telecommunications, offset by HKD 12,000 million in non-cash goodwill impairment[4] - The company recognized a loss of $2,061 million from the translation of foreign subsidiaries, compared to a loss of $10,567 million in 2021, reflecting an improvement[32] - The company reported a significant impairment of goodwill related to Wind Tre amounting to HKD 11,039 million[72] Future Outlook - The company anticipates recovery in its mainland retail operations in 2023 following the easing of COVID-19 restrictions and border reopening[3] - The group anticipates challenges in 2023 due to external factors such as potential inflation and geopolitical risks[17] - The company plans to focus on market expansion and new product development in the upcoming fiscal year[19] Operational Efficiency - The company aims to enhance operational efficiency and explore potential mergers and acquisitions to drive growth[60] - The company continues to focus on expanding its telecommunications operations in Asia, particularly through mergers and acquisitions[79] Director Remuneration - The total director remuneration for 2022 was HKD 537 million, an increase from HKD 500 million in 2021, representing a growth of 7.4%[89] - The total remuneration for the directors from the company and its subsidiaries was HKD 537.01 million for 2022, with a breakdown of HKD 5.35 million in basic salary, HKD 46.86 million in allowances, and HKD 482.13 million in benefits[90]

Revenue Performance - Total revenue for the six months ended June 30, 2022, was HKD 229,616 million, with Europe contributing HKD 107,397 million, representing a 6% increase [3]. - Revenue from Mainland China was HKD 17,760 million, showing a 20% increase [3]. - Revenue from Hong Kong reached HKD 18,973 million, accounting for 8% of total revenue [3]. - The Asia, Australia, and other regions generated HKD 36,925 million, contributing 16% to total revenue [3]. - Total revenue for the first half of 2022 reached HKD 229,616 million, an increase of 8% compared to HKD 212,386 million in the same period of 2021 [7]. - Total revenue for the six months ended June 30, 2022, was HKD 229,616 million, an increase of 8% from HKD 212,386 million in the same period of 2021 [11]. - Total revenue for the first half of 2022 was HKD 39,407 million, a decrease of 9% compared to HKD 43,160 million in the first half of 2021 [47]. - Total revenue for the six months ended June 30, 2022, was HKD 131,358 million, a decrease from HKD 135,496 million in the same period of 2021, representing a decline of approximately 2.1% [127]. EBITDA and EBIT - EBITDA for the same period was reported at HKD 58,244 million, with a basic benchmark of HKD 53,106 million [4]. - EBIT for the six months ended June 30, 2022, was HKD 34,515 million, with a basic benchmark of HKD 29,377 million [6]. - EBITDA for the first half of 2022 was HKD 70,525 million, reflecting a 3% growth from HKD 68,167 million in the previous year [7]. - The EBIT for the first half of 2022 amounted to HKD 37,648 million, an increase of 8% from HKD 34,809 million in the same period of 2021 [7]. - EBITDA for the same period was HKD 58,244 million, up 5% from HKD 55,590 million year-on-year [12]. - EBIT totaled HKD 34,515 million, reflecting a 5% increase compared to HKD 32,773 million in the previous year [12]. - EBITDA for the first half of 2022 was HKD 58.24 billion, up from HKD 55.59 billion in the same period of 2021 [90]. - The company’s EBITDA margin for the first half of 2022 was approximately 46% compared to 100% in the previous year, indicating a shift in profitability [160]. Profit and Net Income - The net profit attributable to ordinary shareholders was HKD 19,088 million, a 4% increase from HKD 18,300 million in the previous year [7]. - The reported profit attributable to shareholders was HKD 17,740 million, a decrease of 4% from HKD 18,443 million in 2021 [12]. - The company reported a profit of HKD 19,088 million for the six months ended June 30, 2022 [132]. - The profit attributable to ordinary shareholders was HKD 19,088 million, up from HKD 18,300 million in 2021, reflecting a growth of approximately 4.3% [127]. - The company reported a net profit of $2.898 billion for the six months ended June 30, 2022, compared to $2.641 billion in the same period of 2021, representing an increase of approximately 9.8% [130]. Segment Performance - The port and related services segment generated revenue of HKD 22,651 million, up 14% from HKD 19,933 million in the previous year [7]. - Retail infrastructure revenue increased by 3% to HKD 84,905 million, compared to HKD 82,621 million in the same period of 2021 [7]. - CK Hutchison Group Telecom reported a revenue decline of 9% to HKD 41,817 million, down from HKD 45,826 million in the previous year [7]. - The financial and investment segment revenue surged by 47% to HKD 46,804 million, compared to HKD 31,858 million in the same period of 2021 [7]. - The telecommunications segment, CK Hutchison Group Telecom, reported revenue of HKD 41,817 million, down 9% from HKD 45,826 million in 2021 [11]. - The port division is implementing a decarbonization plan to achieve net-zero emissions, including upgrading existing infrastructure [15]. - The retail segment operated 16,244 stores across 28 markets as of June 30, 2022, reflecting a 1% decrease from the end of 2021 [16]. Market Strategy and Outlook - The company is focusing on market expansion and new product development as part of its growth strategy [2]. - Future outlook includes continued investment in technology and potential acquisitions to enhance market presence [2]. - The company is expanding its logistics business and aims to diversify revenue sources through strategic partnerships [15]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [170]. - The company continues to face challenges from currency fluctuations and inflationary pressures, particularly in Europe [14]. - The outlook for the global economy remains cautious due to inflation and growth slowdown, but the group expects to maintain stable growth in the second half of the year [29]. Financial Position and Capital Management - The group's total cash and liquid investments reached HKD 119.91 billion, while total bank and other debts amounted to HKD 288.38 billion, resulting in a net debt of HKD 168.39 billion, with a net debt to total equity ratio of 20.5% [27]. - The group aims to reduce its net debt to total equity ratio to 17.5% following the completion of the UK tower transaction in August 2022 [27]. - The group's interest expenses and financing costs for the first half of 2022 amounted to HKD 7.87 billion, a 9% increase year-on-year [69]. - The weighted average cost of debt for the group was 1.8% as of June 30, 2022, compared to 1.6% in the previous year [69]. - The company aims to enhance long-term returns for stakeholders through sustainable profit and cash flow growth, focusing on capital management and strategic alliances in technology sectors [99]. Shareholder Information - The company declared an interim dividend of HKD 0.84 per share, a 5% increase from HKD 0.80 per share in the previous year [11]. - As of June 30, 2022, the total number of shares held by Li Ka-Shing is 1,165,421,760, representing approximately 30.39% of the company's equity [101]. - The report indicates that the actual performance may differ significantly from the forward-looking statements due to risks and uncertainties [100]. - The company has a diverse range of equity interests among its directors, with various family and personal holdings detailed in the report [101]. Risks and Compliance - The report emphasizes the importance of understanding the risks associated with forward-looking statements and the potential for significant deviations from expected performance [100]. - The company maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations [121]. - The board of directors has adopted a standard code for securities transactions, ensuring compliance during the reporting period [122].

Financial Data and Key Metrics Changes - The company's net earnings for the first half of the year reached HKD19.1 billion, with earnings per share increasing by 5% to $4.98 [3] - Revenue increased by 8% to HKD222.6 billion, with a 13% increase in local currencies [5] - EBITDA was reported at HKD58.2 billion, reflecting a 5% growth, while operating cash flow decreased to HKD16 billion from HKD17.7 billion in the previous year [6][19] - The net debt stood at HKD168.4 billion, resulting in a gearing ratio of 20.5%, which is expected to decrease to 17.5% with incoming cash [4][34] Business Line Data and Key Metrics Changes - The ports division saw a 16% increase in EBITDA, driven by higher storage income due to port congestion [9][38] - Retail reported an EBITDA of HKD6.03 billion, a decrease of 10% in reported currency, primarily due to challenges in Health and Beauty China [49][57] - Infrastructure earnings increased by 46% to HKD4.4 billion, with stable contributions across most units [60] - The telecom division experienced a 21% drop in EBITDA to HKD11 billion, largely due to a significant decline in Italy [67][70] Market Data and Key Metrics Changes - The European and U.K. markets contributed 49% to the overall EBITDA, with the U.K. alone accounting for 21% [8] - The Asia, Australia, and North America regions contributed 29%, while Hong Kong and China contributed 23% and 6%, respectively [8] - The retail division's sales in China dropped by 17% year-on-year due to COVID-related lockdowns, impacting footfall by 30% [51][52] Company Strategy and Development Direction - The company emphasizes in-market consolidation and network sharing as key strategies to enhance telecom business performance [108] - The retail division continues to optimize its store portfolio, focusing on strategic locations and enhancing customer loyalty through its O+O strategy [44][46] - Sustainability initiatives are being prioritized across divisions, with a focus on decarbonization and improving ESG ratings [97][106] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by inflation, military conflicts, and currency volatility but highlighted the strength of the company's diverse portfolio in maintaining steady performance [114][115] - The outlook for the second half of the year is cautiously optimistic, particularly for the retail sector in China, which is expected to improve as restrictions ease [110] - The company remains committed to shareholder value and plans to continue share buybacks post the completion of the U.K. tower deal [109] Other Important Information - The company is expecting significant proceeds from the Cellnex tower deal, estimated at €3.7 billion, which will positively impact the net debt ratio [36][86] - The merger in Indonesia has resulted in a substantial increase in the active customer base and EBITDA, showcasing the benefits of consolidation [90][91] Q&A Session Summary Question: How has the group been affected by inflation, military conflicts, and pandemic restrictions? - Management stated that the diverse portfolio allows the company to balance out risks and maintain steady performance despite external challenges [114][115]

Stock code: 1 (Incorporated in the Cayman Islands with limited liability) 有限公司 ON HOLDINGS LIMITED 2022 Interim Results Operations Analysis 2022 | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The total revenue for 2021 reached HKD 445,383 million, with a 16% increase year-on-year[12]. - Total revenue reached HKD 445,383 million, a 10% increase from HKD 403,846 million in the previous year[16]. - The company reported a net profit of HKD 33,500 million, representing a 16% increase from HKD 29,000 million in the previous year[16]. - The group reported a profit attributable to ordinary shareholders of HKD 33.5 billion for 2021, representing a 16% increase compared to 2020[29]. - The reported profit for 2021 was HKD 33.48 billion, representing a 15% increase from HKD 29.14 billion in 2020[50]. - The group’s total EBITDA for the year was HKD 135.65 billion, an increase from HKD 122.35 billion in 2020[50]. - The company achieved a profit before tax of HKD 49,977 million, which is a 29% increase from HKD 38,713 million in 2020[53]. - The company reported a net profit attributable to shareholders of HKD 4 million, with EBITDA and EBIT decreasing by 18% and 71% year-over-year, respectively, mainly due to declining roaming revenues[139]. Revenue Breakdown - The retail segment revenue was HKD 173,601 million, accounting for 39% of total revenue, with a 9% year-over-year increase[16]. - Revenue from mainland China was HKD 38,111 million, accounting for 21% of the total revenue[12]. - Port and related services generated HKD 42,285 million in revenue, a 29% increase from HKD 32,865 million[16]. - Financial and investment segment revenue rose by 23% to HKD 72,036 million from HKD 58,760 million[16]. - The telecommunications segment reported revenue of HKD 92,575 million, a 2% increase from HKD 90,663 million[16]. - Total revenue for the retail segment reached HKD 173,601 million in 2021, a 9% increase from HKD 159,619 million in 2020[78]. - The total revenue for the European segment increased to HKD 13,332 million in 2021, up 24% from HKD 10,782 million in 2020[69]. - Total revenue for the Asian, Australian, and other segments increased by 10% to HKD 18,060 million in 2021, compared to HKD 16,441 million in 2020[70]. EBITDA and EBIT - The EBITDA for 2021 amounted to HKD 111,227 million, reflecting a 65% contribution from the UK market[13]. - EBITDA totaled HKD 111,227 million, reflecting a 15% growth compared to HKD 96,944 million last year[16]. - EBITDA for 2021 was HKD 135,653 million, up from HKD 122,348 million in 2020[17]. - EBITDA for the group was HKD 43.052 billion, down 11% from HKD 48.540 billion in 2020[119]. - The group’s EBITDA margin (excluding mobile revenue) was 40% for the year[126]. - The overall retail segment's EBIT increased by 14% in 2021 compared to 2020[87]. - EBIT increased by 20% to HKD 64,744 million from HKD 53,854 million in the prior year[16]. - EBIT for the year was HKD 64,744 million, reflecting a 20% increase from HKD 53,854 million in 2020[52]. Market Expansion and Investments - Future outlook includes continued expansion in retail and telecommunications sectors, leveraging technological advancements[11]. - The company plans to invest in and operate a port in Saudi Arabia, enhancing its market presence in the region[24]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[54]. - The company plans to continue expanding its retail presence and investing in new product development to drive future growth[106]. - The company expanded its retail network in Hong Kong to over 500 points of sale, including partnerships with major retailers[24]. - The company has entered a new regulatory period for several regulated businesses in the UK and Australia, resulting in reduced revenue and allowed returns[110]. Sustainability and Technology - The company emphasizes sustainability and the adoption of new technologies to address environmental and social responsibilities[7]. - The group’s core sustainable development goals will continue to be emphasized, with a focus on achieving net-zero emissions targets[48]. - The company continues to focus on reducing customer churn and enhancing service offerings to improve customer retention[121]. - The company continues to adapt to market changes and maintain a strong financial position despite global economic challenges[156]. Customer Metrics - The number of retail stores increased to 16,398 in 2021, up from 16,167 in 2020, representing a 1% growth[78]. - The loyalty membership in the health and beauty products segment grew to 141 million in 2021, up from 138 million in 2020, with a sales participation rate of 64%[80]. - Total active customers for Hutchison Asia Telecom reached approximately 56.2 million as of December 31, 2021, a decrease of 1% compared to 2020, primarily due to the operating environment in Indonesia[45]. - The total registered customer count in the UK as of December 31, 2021, was 13,147 thousand, with a growth of +5% from June 30, 2021[128]. Debt and Financial Management - The group maintained a strong financial position with cash holdings of HKD 8.1 billion and a net debt to total capital ratio of 14.7% as of December 31, 2021[111]. - The group’s cash and cash equivalents accounted for 95% of current assets, an increase from 94% in 2020[177]. - The group’s net debt as of December 31, 2021, was HKD 168.69 billion, a decrease from HKD 185.13 billion in 2020[174]. - The group recorded current and deferred tax expenses of HKD 9.58 billion in 2021, an increase from HKD 1.47 billion in 2020, mainly due to prior year adjustments and increased pre-tax profits[155]. - The group has a policy against early repayment of debt due to changes in credit ratings[166]. Operational Challenges - The pandemic continues to pose significant risks to the group's operations, including potential declines in throughput at ports and reduced foot traffic at retail stores due to factory closures and decreased demand in Europe and the US[198]. - Uncertainty remains regarding the long-term adverse effects of the pandemic on the global economy and financial markets, which may impact the group's operational performance, cash flow, and financial condition[199]. - The company's revenue from tower assets decreased by 2% year-over-year, totaling HKD 86.972 billion in 2021 compared to HKD 85.786 billion in 2020[125].

SON HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) | --- | --- | --- | |---------------|-------|-----------------------------------------| | | | | | Stock code: 1 | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 Annual Results Operations Analysis | Disclaimer The information, statements and opinions contained in this Presentation and subsequent discussion do not constitute an offer to sell or solicitation of any offer to subscribe for or purchase any securities or other ...

CK Hutchison Holdings Limited (OTCPK:CKHUY) Q3 2021 Earnings Conference Call March 17, 2022 5:15 AM ET Company Participants Victor Li – Chairman and Group Co-Managing Director Kin Ning Fok – Group Co-Managing Director Frank Sixt – Group Finance Director and Deputy Managing Director Dominic Lai – Deputy Managing Director and Group Managing Director of A.S. Watson Group Conference Call Participants Operator Good morning. Welcome to the live webcast of CK Hutchison 2021 Final Results Presentation. Today, our s ...

Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 212,386 million, representing a 15% increase[3] - EBITDA for the same period was HKD 38,974 million, with a significant contribution from Europe at HKD 29,187 million[3] - EBIT for the six months was reported at HKD 32,773 million, with European operations contributing HKD 15,701 million[4] - The company recorded a non-cash goodwill impairment of HKD 15,500 million related to its telecommunications business in Italy[4] - Total revenue for the six months ended June 30, 2021, was HKD 212,386 million, representing a 12% increase from HKD 189,942 million in the same period of 2020[6] - EBITDA for the same period increased by 15% to HKD 68,167 million, up from HKD 59,341 million[8] - Profit attributable to ordinary shareholders was HKD 18,300 million, a 41% increase from HKD 13,000 million in the same period last year[8] - The company reported a 33% increase in profit before tax, amounting to HKD 25,576 million, up from HKD 19,243 million in the previous year[6] - Reported profit for the six months ended June 30, 2021, was HKD 18,300 million, representing a 40.0% increase from HKD 13,000 million in 2020[11] - The group reported a total revenue of HKD 199.33 billion for the first half of 2021, representing increases of 24%, 26%, and 38% year-on-year[13] Revenue Breakdown - The revenue breakdown by region shows Europe at HKD 109,138 million, China at HKD 16,903 million, and Hong Kong at HKD 20,200 million[3] - The retail segment reported revenue of HKD 82,621 million, a 12% increase compared to HKD 73,627 million in the previous year[6] - The infrastructure segment's revenue grew by 10% to HKD 27,798 million, compared to HKD 25,181 million in the previous year[6] - The financial and investment segment reported a revenue increase of 14%, reaching HKD 31,858 million, up from HKD 27,880 million[6] - The telecommunications segment, specifically Hutchison Asia Telecom, experienced a revenue decline of 4%, with figures at HKD 4,350 million compared to HKD 4,521 million[6] Strategic Initiatives - The company plans to expand its market presence in Asia, Australia, and other regions, which generated HKD 32,761 million in revenue[3] - Future outlook includes potential mergers and acquisitions to enhance market share and operational efficiency[4] - The company is focusing on new product development and technological advancements to drive growth[4] - The group plans to continue share buyback programs and explore new investment opportunities to maximize long-term sustainable value for shareholders[24] - The company expects continued growth driven by strong consumer demand and market recovery across regions[33] Operational Efficiency - The financial performance indicates a strong recovery trajectory post-pandemic, with a 6% growth in EBITDA compared to the previous period[4] - The company aims to maintain a robust capital structure while exploring strategic investments in high-growth sectors[4] - The group’s total cash and liquid investments amounted to HKD 190.46 billion, with total bank and other debts at HKD 354.71 billion, resulting in a net debt of HKD 164.28 billion, down from HKD 205.87 billion as of June 30, 2020[24] - The group’s net debt to total net capital ratio improved to 19.9% from 25.1% as of June 30, 2020[24] - The group’s total revenue, EBITDA, and EBIT for the first half of 2021 were HKD 199.33 billion, HKD 69.83 billion, and HKD 47.69 billion respectively, representing increases of 24%, 26%, and 38% year-on-year[13] Market Expansion - The company plans to expand its market presence through strategic acquisitions and new technology developments in the upcoming quarters[1] - The group has identified four key sustainability goals for 2021-2022, including actions to address climate change and investment in sustainable business models[25] - The group established a 50/50 joint venture with Yantian Port Group to develop and manage a new container terminal in Shenzhen, enhancing its operational capacity[14] - The company continues to evaluate its financial performance based on both IFRS 16 and previous accounting standards to ensure comprehensive reporting[11] - The company is committed to long-term investment ratings and balanced debt repayment[102] Shareholder Returns - The interim dividend per share was increased to HKD 0.800, up 30% from HKD 0.614 in 2020[11] - The group’s total equity and perpetual capital securities increased to HKD 538.19 billion as of June 30, 2021, compared to HKD 518.97 billion on December 31, 2020, reflecting the group's profit for the first half of 2021[93] - The company paid dividends of HKD 6.555 billion for the year 2020, impacting the equity[134] - The company focuses on sustainable profit, cash flow, and dividend growth while maintaining financial strength and stability[102] - The company anticipates continued growth in revenue and EBITDA for the remainder of 2021, driven by market expansion and new product launches[49] Customer Base and Loyalty - The retail division operated 16,206 stores across 27 markets, a 2% increase year-on-year, with total revenue reaching HKD 82.62 billion, up 12% from the previous year[15] - The number of loyalty members in the retail sector rose to 140 million, accounting for 66% of total sales[15] - The total number of loyal members in the health and beauty products segment increased to 139 million, up from 136 million year-over-year[38] - The sales participation rate of loyal members in the health and beauty products segment rose to 64%, compared to 63% in the previous year[38] - The active customer base of CK Hutchison's telecommunications subsidiary in Hong Kong and Macau reached approximately 3.2 million as of June 30, 2021[22] Sustainability and Environmental Goals - Cheung Kong Infrastructure aims to achieve net-zero emissions and is leading hydrogen energy development in the UK and Australia[18] - The group has made significant progress in carbon reduction targets and investments, including acquiring Canadian wind power facilities and trialing hydrogen fuel cell technology[26] - The company has identified sustainability as a key focus area, with plans to address climate change and invest in sustainable business models[25] - The group has established foreign exchange swap arrangements amounting to HKD 29.64 billion to mitigate foreign exchange risk[78] - The company emphasizes technology transformation as a key initiative to capture new cost and revenue opportunities across all businesses[102]

ISON HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) Stock code: 1 1 2021 Interim Results Operations Analysis Three. Disclaimer 2021 The information, statements and opinions contained in this Presentation and subsequent discussion do not constitute an offer to sell or solicitation of any offer to subscribe for or purchase any securities or other financial instruments or any advice or recommendation in respect of such securities or other financial instruments. Potential investors ...