Core Viewpoint - New Hong Ji Company (00086) expects a significant increase in shareholder profit for the six months ending June 30, 2025, projected to be no less than 800 million HKD, compared to 75.4 million HKD for the same period ending June 30, 2024 [1] Summary by Relevant Categories Financial Performance - The anticipated profit increase is primarily driven by higher investment income from the company's investment management business [1] - The profit from the company's credit business is expected to decrease, partially offsetting the gains from the investment management sector [1]

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 分 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。 （ 於香港註冊成立之有限公司 ） （股份代號：86） 1 股東及潛在投資者在買賣本公司證券時，務請審慎行事。 代表 董事會 新鴻基有限公司 執行董事 Brendan James McGraw 香港，2025年8月6日 於本公佈日期，董事會成員包括： 執行董事： 正面盈利預告 本公佈乃新鴻基有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香 港聯合交易所有限公司證券上市規則（「上市規則」）第 13.09(2)(a)條及香港法例 第 571 章《證券及期貨條例》第 XIVA 部項下之內幕消息條文（定義見上市規 則）而作出。 本公司董事會（「董事會」）謹此通知本公司股東（「股東」）及潛在投資者，根據 管理層目前可獲得之資料及對本集團截至2025年6月30日止六個月之最新未經審 核綜合管理賬目(「管理賬目」）作出的初步審閱及評估，預計截至2025年6月30日 止六個月本公司股東應佔溢利將不低於8 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 新鴻基有限公司 | | | | 呈交日期: | 2025年8月4日 | | | | I. 法定/註冊股本變動 不適用 | | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00086 | 說明 | | 普通股 | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,964,958,493 | | 0 | | 1,964,958,493 | | 增加 / ...

Core Viewpoint - The company has demonstrated strong performance across its three core business lines—credit, investment management, and fund management—capitalizing on structural opportunities in the market, leading to significant stock price appreciation and recognition in the investment community [1][2][4]. Group 1: Market Performance - The Hang Seng Index has rebounded from a low of approximately 18,600 points, achieving a year-to-date increase of 19.07%, with a total fluctuation of nearly 30% between its lowest and highest points [1]. - The company's stock price has risen approximately 30% year-to-date, aligning with structural opportunities in the Hong Kong stock market and global capital allocation trends [1]. Group 2: Investment Management - The investment management segment has shown resilience, with alternative investments making up 74.2% of the segment by the end of 2024, indicating a strong focus on high-quality investment opportunities [1]. - The company is expected to realize value in both the Hong Kong and U.S. stock markets by 2025, reflecting its strategic positioning [1]. Group 3: Fund Management - The total assets under management in the fund management business reached a record of $2 billion in 2024, representing a 109.3% increase, which contributed to a 191.7% year-on-year revenue growth to HKD 49 million [4]. - The company's hedge fund, SHK Latitude Alpha, received a nomination for the HFM Asia-Pacific Performance Awards, highlighting its strong performance metrics and enhancing investor confidence [5]. Group 4: Credit Business - The credit business has been a stable revenue source, with the company successfully managing a $100 million residential mortgage loan portfolio and recently being appointed to manage a second $70 million portfolio [6]. - The company has leveraged insights into the real estate sector's challenges to expand its credit services, allowing developers to focus on project sales and development [6]. Group 5: Strategic Investments - The investment in Jefferson Capital, a leader in U.S. distressed consumer debt management, showcases the company's ability to identify opportunities in the credit market, with Jefferson Capital set to go public in June 2025 [3]. - The company's strategic investments reflect a deep understanding of the credit industry and an international perspective, enabling it to discover undervalued companies [3].

Financial Performance - The company reported a profit attributable to shareholders of HK$377.7 million in 2024, a significant turnaround from a loss of HK$471.4 million in 2023[28]. - The return on equity and return on assets increased to 1.8% and 1.5%, respectively, compared to -2.2% and -0.5% in 2023[28]. - Total revenue decreased by 3.9% to HKD 3,762.0 million[40]. - Revenue for 2024 was HKD 3,762.0 million, a decrease of 3.9% from HKD 3,916.6 million in 2023[48]. - Pre-tax profit increased significantly to HKD 861.3 million in 2024, up 1024.4% from HKD 76.6 million in 2023[50]. - Basic earnings per share for 2024 were HKD 19.3 cents, recovering from a loss of HKD 24.1 cents in 2023[50]. - Total investment management revenue reached HKD 394.4 million, a significant recovery from a loss of HKD 332.0 million in 2023[33]. - The pre-tax profit from consumer finance business was HKD 807.3 million, down from HKD 979.5 million in 2023, impacted by a one-time foreign exchange loss of HKD 46.1 million[34]. - The company achieved a pre-tax profit margin increase of 1,024.4%, amounting to HKD 861.3 million[40]. Asset Management - Total assets of the group amounted to approximately HKD 37.3 billion as of December 31, 2024[8]. - Total assets under management reached a record of $2.0 billion, more than doubling from 2023[25]. - The total assets under management reached $2,018 million by the end of 2024, up from $964 million in 2023, reflecting a significant organic growth driven by strong cash inflows and good market performance across almost all strategies[124]. - The composition of assets under management showed a decrease in the company's capital from 37.2% in 2023 to 20.1% in 2024, while external investor capital increased from 62.8% to 79.9%[130]. - Revenue from fees increased by 55.6% year-on-year to $56.5 million in 2024, driven by the significant expansion of assets under management[132]. Investment Strategies - The investment management division has become a significant source of excess returns for the group in the medium to long term[18]. - The company is focusing on alternative investment strategies to capture market misalignments and generate favorable returns[20]. - The alternative investment portfolio generated a return of 2.6%, with hedge fund returns at 10.6% and private equity returns at 1.1%[75]. - The company is leveraging its expertise and resources to transform into a leading alternative investment platform[24]. - The company plans to enhance its fund management platform through new partnerships and expanded distribution networks[136]. Credit and Loan Business - The credit business offers a diversified loan portfolio, including consumer finance and mortgage loans, providing stable returns[15]. - The company launched the SIM credit card in 2023 to meet the demand for quick-response credit solutions[16]. - The mortgage lending division introduced asset management services for residential mortgage portfolios in 2024[17]. - The credit business achieved a pre-tax profit of HKD 846.8 million, a decrease of 4.5% from HKD 886.3 million in 2023[53]. - The total loan balance in Hong Kong reached HKD 9,199.4 million, reflecting a slight increase of 0.8% compared to HKD 9,123.7 million in 2023[63]. Risk Management - The company maintains a diversified funding source to manage market risks effectively[170]. - Key risks identified include strategic risk, credit risk, market risk, liquidity risk, and operational risk, each with specific mitigation measures[170]. - The risk management framework is based on a "three lines of defense" model, ensuring effective oversight and internal controls[161]. - The company has implemented additional monitoring measures, resulting in an overall reduction in risk levels[168]. - Continuous improvement of the electronic risk management system has enhanced data collection and reporting efficiency[168]. Corporate Governance - The board of directors emphasizes high standards of corporate governance to enhance shareholder value[173]. - The company has established a strong compliance culture and has implemented internal policies to regulate its activities[154]. - The board consists of eight male directors and two female directors, meeting gender diversity requirements[192]. - The company has adopted a board diversity policy since September 1, 2013, to improve the overall skills and experience of the board[189]. - The nomination committee is responsible for ensuring a balanced perspective in terms of skills, experience, and diversity in the board composition[196]. Employee and Operational Efficiency - Employee headcount decreased to 978 from 1,087 in 2023, with total employee costs down to HKD 593.2 million from HKD 625.8 million[151]. - The company emphasizes employee well-being, competitive salaries, and career development to attract and retain top talent[153]. - The company plans to enhance operational efficiency by integrating AI tools and streamlining business processes[76]. - The implementation of a scalable and efficient customer relationship management (CRM) system has improved communication with clients and streamlined relationship management processes[121].

Financial Performance - The company reported a profit attributable to shareholders of HKD 377.7 million for 2024, a significant recovery from a loss of HKD 471.4 million in 2023[8]. - The company achieved a pre-tax profit of HKD 861.3 million for the year ending December 31, 2024, up from HKD 76.6 million in 2023[23]. - The company reported a profit of HKD 591.3 million for the year ending December 31, 2024, compared to a loss of HKD 201.3 million in 2023, marking a significant turnaround[24]. - Total comprehensive income for the year was HKD 583.2 million, a recovery from a loss of HKD 318.3 million in the previous year[24]. - The company recorded a basic earnings per share of HKD 19.3 for 2024, a recovery from a loss of HKD 24.1 in 2023[23]. - The group reported a pre-tax profit of HKD 76.6 million for 2023, a significant decrease from HKD 861.3 million in 2024, reflecting a decline of approximately 91.1%[39]. - The group’s total segment profit was HKD 189.7 million in 2023, a decrease from HKD 807.1 million in 2024, reflecting a decline of approximately 76.6%[39]. - The company reported a significant increase in fund income sharing to HKD 28.8 million in 2024 from HKD 11.1 million in 2023, marking a growth of 159.5%[41]. Asset Management and Investments - In 2024, the total assets under management reached a record of $2.0 billion, more than doubling from 2023[4]. - The investment management segment reported total revenue of HKD 394.4 million in 2024, compared to a loss of HKD 332.0 million in 2023, marking a significant recovery[15]. - The overall investment return for 2024 was 2.5%, with hedge fund investments achieving a solid return of 10.6%[6]. - The private equity portfolio achieved a return of 1.1%, despite challenging capital market conditions for exits[15]. - The alternative investment portfolio's total value as of December 31, 2024, was HKD 11,063.2 million, with a yearly return of 2.6%, compared to a loss of 2.5% in 2023[110]. - The hedge fund investment portfolio achieved a robust return of 10.6% in 2024, with nearly every month recording positive returns[119]. - The company strategically shifted towards secured loans in mainland China, which reduced impairment expenses and improved operational efficiency[87]. Capital Management - The capital net debt ratio decreased by 740 basis points to 31.2% from 2023, reflecting disciplined capital management[8]. - The company repurchased and redeemed a total of $434.1 million in medium-term notes since 2022, enhancing capital efficiency amid market volatility[8]. - The company maintained a cautious approach to capital allocation, with total loan balances in the mortgage segment decreasing by 16.5% to HKD 2,146.2 million[90]. - The net debt ratio improved to 31.2% at the end of the year, down from 38.6% in 2023, indicating a stable capital structure[158]. - The interest coverage ratio increased significantly to 1.94 from 1.08 in 2023, primarily due to improved profitability[158]. Revenue and Dividends - The company announced a total dividend of HKD 0.26 per share, maintaining the same level as the previous year[10]. - The total dividend declared for 2024 was HKD 510.9 million, consistent with the previous year's total of HKD 511.1 million[50]. - Revenue for 2024 was HKD 3,762.0 million, a decrease of 3.9% from HKD 3,916.6 million in 2023[61]. - The consumer finance segment generated revenue of HKD 3,231.8 million in 2023, compared to HKD 3,144.8 million in 2024, indicating a year-over-year increase of about 2.8%[39]. Strategic Initiatives - Strategic partnerships with GAM Investments and Wentworth Capital were established to diversify product offerings and explore global expansion[12]. - The company plans to explore new partnerships and develop family office solutions to enhance its alternative asset management platform for future growth[21]. - The family office solutions business expanded selectively, leveraging the company's extensive investment network to provide exclusive alternative investment opportunities[12]. - The company is focusing on enhancing its technological infrastructure and integrating AI tools to improve operational efficiency[96]. Environmental and Social Responsibility - The company reduced paper usage by over 40% and water consumption by over 30% compared to 2023, reflecting its commitment to environmental sustainability[19]. - The company has implemented comprehensive health, wellness, and insurance benefits to support employee well-being[171]. - The company aims to enhance employee value propositions through competitive salaries, bonuses, and career development opportunities, fostering a collaborative and inclusive work environment[176]. Employee and Operational Metrics - As of December 31, 2024, the total number of employees in the group was 978, a decrease from 1,087 on December 31, 2023, primarily due to a reduction in unsecured loan operations in mainland China[169]. - Total employee costs amounted to HKD 593.2 million for 2024, down from HKD 625.8 million in 2023, reflecting the decrease in headcount[169]. - The group granted a total of 1,077,000 shares to selected employees or directors under the Employee Share Ownership Plan during the year, with 1,242,000 shares expected to vest in 2024[170]. Market Outlook - The company remains cautiously optimistic about the recovery of the Chinese market from the real estate sector downturn by 2025[105]. - The company is committed to enhancing governance standards and client trust through the implementation of new policies and processes[136].

大家好欢迎大家参加国阵国际联合录影组举办的录影大会上市公司交流专场我是本场会议的主持人安心国际国阵国际研究分析师作业者本场会议我们邀请到了西红柿有限公司的领导来与我们交流投资者如果有任何问题可以随时在录影中的参会页面内的问答区域输入文字提问稍后我将带回念书 那么接下来我们把时间交给公司领导有请双双发言好的谢谢陆远中谢谢朱老师各位投资者大家下午好首先我向各位投资者汇报一下我们公司的一个业务和业绩的情况中间或者说之后有什么问题欢迎大家随时提出尽量去解答 今天大概主要是先讲一下我们的业务的情况然后就我们中期的业绩向投资者汇报一下我们各个业务板块的一个表现情况首先是看我们的目前三大业务板块第一大块是信贷业务旗下经营的品牌包括亚洲联合财务经营的是消费金融业务第二大块是投额按揭贷款 然后我们的经营品牌是信用机信贷然后在香港地区经营这个按揭贷款的业务那第二大条业务线是投资管理业务这个是我们从2015年的时候当我们把我们最初这个证券经济和财富管理业务出售掉以后我们利用这个所得资金开展了一个投资管理业务那从目前来看我们旗下投的资产包括公开市场另类投资和房地产 基于我们投资管理业务的成功我们在2021年的时候正式开始我们第三条业 ...

本公司2020年年度业绩投资者网站会议本次会议将以普通话进行各位投资者的麦克风设置为静音业绩简解结束后我们将开放问答环节首先我为大家介绍今天主讲的公司管理层公司的投资者关系副总裁张钱女士 在今天的会议上Shirley将会向各位投资者介绍公司2024年的业绩表现以及2025年的展望和发展计划 今天的讨论包含前瞻性陈述并涉及社集团无法控的假设和因素相关的陈述不一定代表集团未来的表现也不构成对未来表现的保证首先有请Shirley为大家讲解业绩谢谢大家下午好 我们的核心业务围绕三大板块展开包括信贷、投资管理和基金管理我们通过亚洲联合财务和西红柿信贷开展信贷业务为我们提供稳定、具有韧性的现金流 我们的投资管理业务提供独特的投资机会准入凭借我们强大的业务专长和机构级的管制力求通过多元化的资产类别投资期限和地区来寻求具有吸引力的经风险调整回报我们的基金管理业务拥有全面监管牌照通过基金合作伙伴关系 西红旗Capital Partners自有基金家族办公室解决方案和战略联盟不断地丰富我们的多元策略并且开拓新的收入来源 作为多元另类投资者我们致力于实现丰厚的回报我们的核心优势和独特之处在于稳健的商业模式独特的投资渠道在另类投资方 ...

Financial Performance - Revenue for the first half of 2024 was HKD 1,915.8 million, a decrease of 2.7% compared to HKD 1,968.3 million in the same period last year[6] - Profit attributable to shareholders was HKD 75.4 million, a significant turnaround from a loss of HKD 287.5 million in the first half of 2023[7] - Total revenue for the six months ended June 30, 2024, was HKD 1,939.2 million, a decrease from HKD 2,014.8 million in the same period in 2023[148] - Net profit attributable to the company's shareholders for the six months ended June 30, 2024, was HKD 75.4 million, compared to a net loss of HKD 287.5 million in the same period in 2023[148] - Basic earnings per share for the six months ended June 30, 2024, were HKD 3.9, compared to a loss per share of HKD 14.7 in the same period in 2023[148] - The company's total comprehensive income for the six months ended June 30, 2024, was HKD 146.2 million, compared to a total comprehensive loss of HKD 307.7 million in the same period in 2023[148] - The company's interest income for the six months ended June 30, 2024, was HKD 1,817.7 million, a decrease from HKD 1,890.0 million in the same period in 2023[148] - The company's financial assets impairment loss for the six months ended June 30, 2024, was HKD 427.8 million, an increase from HKD 310.8 million in the same period in 2023[148] - The company's management expenses for the six months ended June 30, 2024, were HKD 511.6 million, an increase from HKD 503.7 million in the same period in 2023[148] - The company's profit before tax for the six months ended June 30, 2024, was HKD 307.4 million, compared to HKD 36.5 million in the same period in 2023[148] - Pre-tax profit increased significantly to HKD 307.4 million in H1 2024 from HKD 36.5 million in H1 2023, a 742% increase[171] - Other income increased to HKD 98.1 million in H1 2024 from HKD 78.3 million in H1 2023, a 25.3% growth[178] - Other losses increased to HKD 55.1 million in H1 2024 from HKD 24.0 million in H1 2023, a 129.6% rise[180] - Current tax expenses for Hong Kong decreased to HKD 78.9 million from HKD 97.2 million in the previous year, while China's current tax increased slightly to HKD 2.2 million from HKD 1.8 million[185] - Deferred tax expenses decreased to HKD 41.8 million from HKD 68.3 million, contributing to a total tax expense of HKD 122.9 million, down from HKD 167.3 million[185] - Basic earnings per share improved to HKD 75.4 million from a loss of HKD 287.5 million in the previous year, with weighted average shares remaining stable at 1,957.2 million[189] Asset and Liability Management - Total assets of the group amounted to approximately HKD 39.5 billion as of June 30, 2024[3] - Total assets decreased from HKD 31,423.1 million to HKD 29,639.8 million compared to the previous period[154] - Net current assets increased to HKD 10,270.3 million from HKD 11,431.9 million[152] - Cash and cash equivalents decreased from HKD 6,462.1 million to HKD 5,428.0 million[152] - Total equity decreased slightly from HKD 24,395.6 million to HKD 24,264.7 million[156] - Non-current liabilities decreased significantly from HKD 7,027.5 million to HKD 5,375.1 million[152] - Retained earnings decreased from HKD 12,831.1 million to HKD 12,633.3 million[156] - Bank and other borrowings under current liabilities increased from HKD 5,495.4 million to HKD 6,171.0 million[152] - Investment properties increased slightly from HKD 1,197.7 million to HKD 1,233.4 million[152] - Property and equipment decreased from HKD 402.1 million to HKD 342.5 million[152] - Deferred settlement borrowings decreased to HKD 1,859.9 million as of June 30, 2024, from HKD 3,484.4 million as of December 31, 2023[169] - The company's capital net debt ratio decreased to 33.3% as of June 30, 2024, down from 38.6% at the end of 2023[97] - Total borrowings decreased by 8.2% to HKD 13,687.3 million as of June 30, 2024, with 64.2% due within one year[98] - Asset return ratio improved to 0.9% as of June 30, 2024, compared to -0.5% at the end of 2023[101] - The company's right-of-use assets increased to HKD 296.4 million, with office and retail space accounting for HKD 292.6 million of the total[192] - Lease expenses for the period included depreciation of right-of-use assets at HKD 62.8 million and interest on lease liabilities at HKD 8.2 million[193] - The company's financial assets measured at fair value totaled HKD 12,758.9 million, with non-current assets making up HKD 8,765.3 million of the total[196] - Financial liabilities measured at fair value amounted to HKD 402.8 million, with current liabilities accounting for HKD 293.4 million[196] - The fair value of financial assets through other comprehensive income is HKD 192.3 million, including HKD 25.4 million for Hong Kong listed equity securities and HKD 158.4 million for overseas listed equity securities[199] - The fair value of financial assets through profit or loss totals HKD 13,834.7 million, with HKD 9,711.4 million in non-listed overseas investment funds[199] - Non-current assets account for HKD 9,470.9 million, while current assets amount to HKD 4,363.8 million[199] - The fair value of financial liabilities through profit or loss is HKD 367.6 million, including HKD 100.3 million for quoted futures and options[199] - Non-current liabilities are HKD 111.6 million, and current liabilities are HKD 256.0 million[199] Business Segment Performance - The credit business contributed HKD 425.3 million in pre-tax profit, a decrease of 30.9% compared to HKD 615.2 million in the first half of 2023[13] - Investment management pre-tax loss narrowed significantly to HKD 358.4 million from HKD 861.4 million in the first half of 2023[13] - Fund management achieved a pre-tax profit of HKD 1.3 million, with assets under management reaching a record high of USD 1.2 billion[12] - Operating costs decreased by 1.1% to HKD 679.0 million, reflecting improved operational efficiency in the consumer finance segment[12] - Revenue for the first half of 2024 was HKD 1,567.7 million, a decrease of 3.7% year-on-year and 2.2% quarter-on-quarter[16] - Net loan balance decreased by 2.7% year-on-year to HKD 10,346.4 million, while total loan balance decreased by 2.3% to HKD 10,920.4 million[16][19] - Operating costs decreased by 6.1% year-on-year to HKD 500.2 million, driven by cost rationalization measures and a shift from unsecured to secured lending in the mainland China market[19] - Net impairment losses increased by 31.6% year-on-year to HKD 386.3 million, reflecting the deteriorating economic environment and cautious provisioning[16][19] - The SIM credit card, launched in November 2023, achieved a cumulative transaction volume of HKD 1 billion by June 2024, with outstanding loan balances increasing monthly[26] - The company's cost-to-income ratio improved to 31.9% in the first half of 2024, down from 32.7% in the same period last year[16] - The annualized net impairment loss ratio increased to 7.0% of average loan balances, up from 5.1% in the first half of 2023[21] - The company's loan approval rate decreased as it tightened credit standards in response to rising bankruptcy applications and changing consumer behavior[26] - Total loan balance in mainland China decreased to HKD 1,928.5 million in H1 2024 from HKD 2,096.6 million in H1 2023, a decline of 8.0%[30] - New loans issued in mainland China during H1 2024 amounted to HKD 1,660.7 million, a 46.1% increase compared to H1 2023[30] - Loan return rate in mainland China dropped to 18.8% in H1 2024 from 22.9% in H1 2023[30] - Write-off rate in mainland China improved significantly to 1.8% in H1 2024 from 9.9% in H1 2023[30] - Mortgage loan business revenue decreased by 15.0% to HKD 124.2 million in H1 2024 compared to H1 2023[32] - Operating costs for mortgage loan business reduced by 17.0% to HKD 25.3 million in H1 2024[32] - Pre-tax contribution from mortgage loan business declined by 65.1% to HKD 25.0 million in H1 2024[32] - Total loan balance for mortgage business decreased by 15.0% to HKD 2,299.3 million in H1 2024[32] - Consumer finance segment revenue decreased to HKD 1,567.7 million in H1 2024 from HKD 1,628.6 million in H1 2023, a decline of 3.7%[171] - Total external customer revenue decreased slightly to HKD 1,915.8 million in H1 2024 from HKD 1,968.3 million in H1 2023, a 2.7% drop[171] - Revenue from Hong Kong increased to HKD 1,726.2 million in H1 2024 from HKD 1,682.4 million in H1 2023, a 2.6% growth[177] - Revenue from Mainland China decreased to HKD 189.6 million in H1 2024 from HKD 285.9 million in H1 2023, a 33.7% decline[177] - Financial asset impairment losses increased to HKD 427.8 million in H1 2024 from HKD 310.8 million in H1 2023, a 37.6% rise[179] - Investment property fair value losses increased to HKD 48.1 million in H1 2024 from HKD 23.4 million in H1 2023, a 105.6% rise[180] - Interest income decreased to HKD 1,817.7 million in H1 2024 from HKD 1,890.0 million in H1 2023, a 3.8% decline[171] Investment Performance - Alternative investments and real estate recorded unrealized gains of HKD 172.2 million in H1 2024, compared to losses of HKD 99.5 million in H1 2023[37] - Pre-tax loss narrowed by 58.4% to HKD 358.4 million in H1 2024 compared to H1 2023[37] - Public market investments recorded a loss of 1.0% in H1 2024, with corporate holdings contributing to a loss of 22.2 million HKD[43][46] - Alternative investments generated a return of 0.1% in H1 2024, with private equity external funds returning 0.4% and direct/co-investment projects losing 3.0%[43][53] - Real estate investments achieved a return of 2.6% in H1 2024, with a gain of 63.3 million HKD[43] - Corporate holdings by region: 54.2% in Mainland China, 10.0% in Switzerland, and 8.9% in Australia[52] - Private equity holdings by region: 31.5% in Greater China, 31.3% in North America, and 15.7% in Asia[62] - Hedge funds returned 4.6% in H1 2024, with persistent funds contributing 5.8% and terminated funds losing 5.6%[53] - Special opportunities investments returned 2.3% in H1 2024, with a gain of 16.6 million HKD[53] - Corporate holdings by industry: 25.6% in financials, 24.1% in technology, media, and telecom, and 17.1% in consumer discretionary[50] - Private equity holdings by industry: 39.3% in technology, media, and telecom, 19.0% in financial and insurance services, and 17.6% in diversified industries[60] - Hedge fund holdings by strategy: 40.6% in market neutral, 33.2% in long/short equity, and 9.9% in convertible arbitrage[66] - Real estate investment portfolio valuation increased to HKD 2,502.4 million as of June 30, 2024, up from HKD 2,413.5 million at the end of 2023[73] - Real estate division achieved a 2.6% return, driven by strong recovery in EU hotel investments and robust performance in Asia-Pacific real estate lending[73] - Asset under management (AUM) reached a record USD 1,195 million as of June 30, 2024, with net cash inflows of USD 132 million and market gains of USD 99 million[87] - External capital accounted for 67.2% of total AUM, an increase of 4.4 percentage points compared to the end of 2023[87] - The company's funds and fund partners achieved strong growth in AUM, reaching USD 1.2 billion, driven by capital inflows and market performance[78] - The company's real estate holdings are diversified, with 66.6% in Hong Kong, 27.7% in the EU, and 4.4% in the UK[77] - The company's real estate portfolio is allocated as 43.0% office, 31.5% hotel, and 25.5% residential properties[75] Cash Flow and Financing Activities - The group repurchased USD 27.8 million worth of medium-term notes during the period, bringing the total repurchased since 2022 to USD 147.1 million[8] - Operating cash flow from activities increased to HKD 1,494.6 million in H1 2024, up from HKD 1,363.1 million in H1 2023[160] - Interest received decreased to HKD 1,781.4 million in H1 2024 from HKD 1,893.6 million in H1 2023[160] - Net cash used in investing activities was HKD 958.9 million in H1 2024, compared to net cash generated of HKD 946.1 million in H1 2023[160] - Net cash used in financing activities increased to HKD 1,553.3 million in H1 2024 from HKD 1,308.1 million in H1 2023[160] - Cash and cash equivalents decreased by HKD 1,017.6 million in H1 2024, compared to an increase of HKD 1,001.1 million in H1 2023[160] - The company repurchased USD 24.4 million of 5.75% notes due November 2024 and USD 3.4 million of 5.00% notes due September 2026[102] - The company committed EUR 21.5 million to a joint venture as of June 30, 2024, with an additional commitment of EUR 54.2 million post-reporting period[104] - The company repurchased a total of 10,000 shares during the six months ended June 30, 2024, with a total consideration of HKD 23,550 (excluding fees)[137][138] - The company repurchased USD 24,434,000 of 5.75% interest-bearing guaranteed notes due November 2024 and USD 3,386,000 of 5.00% interest-bearing guaranteed notes due September 2026, both issued by Sun Hung Kai & Co. (BVI) Limited[139] Corporate Governance and Shareholder Information - The company declared an interim dividend of 12.0 HK cents per share, unchanged from the previous year[6] - The book value per share decreased by 2.7% to HKD 10.7 as of June 30, 2024, compared to HKD 11.0 in the same period last year[8] - The company declared an interim dividend of 12 HK cents per share for the six months ended June 30, 2024, unchanged from the previous year[135] - The company will suspend share transfer registration from September 9 to September 11, 2024, with the ex-dividend date set for September 5, 2024[136] - The company's major shareholders include United Group, Lee and Lee Trust, and Li Shuhui, holding approximately 73.50%, 73.50%, and 74.52% of the issued shares, respectively[

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 1,939.2 million, a decrease of 3.7% from HKD 2,014.8 million in the same period of 2023[2] - The company reported a profit of HKD 184.5 million for the period, compared to a loss of HKD 130.8 million in the previous year[3] - Basic earnings per share improved to HKD 3.9, compared to a loss of HKD 14.7 per share in the same period last year[3] - The company’s share of profits from associates was HKD 283.1 million, significantly up from HKD 54.7 million in the previous year[2] - Profit before tax improved to HKD 75.4 million compared to a loss of HKD (287.5) million in the same period last year[20] - The net profit attributable to shareholders was HKD 75.4 million, a turnaround from a loss of HKD 287.5 million in the same period last year[33] - Profit before tax increased significantly to HKD 307.4 million, compared to HKD 36.5 million in the previous year, representing a 742.2% increase[32] Revenue and Income Sources - Interest income decreased to HKD 1,817.7 million, down 3.8% from HKD 1,890.0 million year-on-year[2] - Revenue from external customers for Hong Kong increased to HKD 1,726.2 million, up from HKD 1,682.4 million year-over-year, while revenue from China decreased to HKD 189.6 million from HKD 285.9 million[13] - Service and commission income rose to HKD 40.2 million, a 100% increase from HKD 20.1 million in the previous year[14] - Total other income decreased to HKD 23.4 million from HKD 46.5 million, primarily due to a drop in gains from repurchased notes[15] Asset and Liability Management - Non-current assets increased to HKD 19,369.5 million from HKD 19,991.2 million as of December 31, 2023[5] - Total liabilities increased to HKD 29,639.8 million from HKD 31,423.1 million as of December 31, 2023[6] - The company’s cash and cash equivalents decreased to HKD 5,428.0 million from HKD 6,462.1 million[5] - The net loan balance as of June 30, 2024, was HKD 10,346.4 million, representing a year-on-year decrease of 2.7%[41] - The total amount of overdue consumer finance customer loans and advances was HKD 10,920.4 million, with a provision for impairment of HKD 574.0 million[22] Operational Efficiency - The company’s management expenses increased slightly to HKD 511.6 million from HKD 503.7 million year-on-year[2] - Operating costs decreased by 1.1% to HKD 679.0 million, reflecting improved operational efficiency in the consumer finance segment in mainland China[36] - The company’s operating costs decreased by 6.1% to HKD 500.2 million compared to HKD 532.9 million in the first half of 2023[40] - The cost-to-income ratio for the first half of 2024 was 31.9%, down from 32.7% in the first half of 2023[40] Investment Management - The total assets under management (AUM) reached USD 1.2 billion, marking a record since the platform's launch in 2021[35] - The overall return rate for investment management improved to 0.4%, with real estate and alternative investments achieving positive returns of 2.6% and 0.1%, respectively, while the public market recorded a negative return of 1.0%[54] - The company has established a diversified investment portfolio including private equity, hedge funds, and special opportunities to capitalize on financial dislocations[62] - The investment portfolio's valuation is stabilizing following the end of the Federal Reserve's interest rate hike cycle, with net capital inflows recorded[65] Employee and Corporate Governance - The total number of employees decreased to 1,009 as of June 30, 2024, from 1,087 as of December 31, 2023, primarily due to a reduction in unsecured loan operations in mainland China[97] - Employee costs totaled HKD 277.2 million for the first half of 2024, reflecting a decrease from HKD 284.7 million in the same period of 2023[97] - The group aims to enhance employee value propositions through competitive salaries, career development paths, and a supportive work environment[98] - The group has implemented several key measures to strengthen employee well-being and work-life balance, including comprehensive health benefits and flexible work arrangements[98] Dividend and Shareholder Returns - The company declared an interim dividend of HKD 12 cents per share, totaling HKD 235.8 million, slightly down from HKD 236.0 million in the previous year[19] - The board declared an interim dividend of HKD 0.12 per share for the six months ended June 30, 2024, consistent with the previous year[99] - The company repurchased a total of 10,000 shares at a total cost of HKD 23,550 during the six-month period ending June 30, 2024[106] Challenges and Future Outlook - The company faced challenges in the economic environment, leading to tightened lending standards and a focus on operational efficiency[41] - The company remains cautiously optimistic despite challenges such as high interest rates and geopolitical tensions, focusing on innovative product development in its credit business[89] - The company anticipates future growth in loan issuance and refinancing, supported by adequate bank loans secured in advance[41]