Financial Performance - The unaudited consolidated revenue for the nine months ended September 30, 2024, was HKD 18,142.31 million, representing a 10.4% increase from HKD 16,435.34 million in the same period of 2023[2]. - The unaudited consolidated profit attributable to owners of the company decreased by 6.1% to HKD 3,593.95 million, down from HKD 3,827.69 million in 2023[4]. - The pre-tax profit for the period was HKD 5,287.76 million, a decline of 11.2% compared to HKD 5,953.39 million in the previous year[2]. - The net loss from changes in the fair value of investment properties was HKD 106.99 million, compared to a net gain of HKD 486.80 million in 2023[2]. - The pre-tax loss for the period was HKD 573,663,000, compared to a pre-tax profit of HKD 136,910,000 in 2023, primarily due to higher gross margins from properties delivered in the previous year[18]. - The pre-tax profit (excluding net finance costs) for the period was HKD 252,009,000, down 11.2% from HKD 283,877,000 in 2023[25]. Assets and Equity - The total assets as of September 30, 2024, were HKD 138,034.48 million, a decrease of 1.4% from HKD 139,965.97 million as of December 31, 2023[2]. - The equity attributable to owners of the company increased to HKD 43,248.04 million from HKD 41,802.21 million, reflecting a growth of 3.5%[2]. - The company held completed unsold properties valued at approximately HKD 98.28 billion and development properties valued at approximately HKD 201.92 billion as of September 30, 2024[19]. Water Supply Projects - The total water supply for the Dongshen Water Supply Project was 1,646 million tons, a decrease of 4.8% from 1,729 million tons in 2023, generating revenue of HKD 5,159.00 million, which is a 0.4% increase[7]. - The pre-tax profit from the Dongshen Water Supply Project increased by 3.8% to HKD 3,461.00 million, compared to HKD 3,334.00 million in the previous year[7]. - The total water supply capacity of the group's subsidiaries and joint ventures reached 8,786,800 tons per day as of September 30, 2024, with wastewater treatment capacity at 2,054,400 tons per day[10]. - The group has ongoing water resource projects with a total water supply capacity of 1,287,000 tons per day and wastewater treatment capacity of 50,000 tons per day as of September 30, 2024[11]. - The group operates several water supply plants with capacities ranging from 24,000 to 1,060,000 tons per day across various subsidiaries[9][10]. Property Investment - The property investment business revenue of Guangdong Tianhe City increased by 8.3% to HKD 1,204,167,000, up from HKD 1,111,978,000 in 2023[12]. - The pre-tax profit from property investment business rose by 14.2% to HKD 689,281,000, compared to HKD 603,318,000 in the previous year[12]. - The total rental income for the period reached HKD 1,204,167 thousand, an increase of 8.3% compared to HKD 1,111,978 thousand in the previous year[13]. - Tianhe City Plaza – Tianhe City Shopping Center reported a rental income of HKD 527,831 thousand, up 7.1% from HKD 493,031 thousand in the previous year[13]. - Guangzhou Animation Star City saw a significant increase in rental income, rising by 57.1% to HKD 68,729 thousand from HKD 43,738 thousand[13]. - The occupancy rate for Tianhe City Plaza – Tianhe City Shopping Center was 98.9%, while Tianhe City Plaza – Yuehai Tianhe City Building had a lower occupancy rate of 84.9%, down 6.0%[13]. - The new Yuehai Tiandi project, which opened in December 2023, generated an initial rental income of HKD 31,180 thousand, marking a 100% occupancy rate[13]. Development and Strategy - The company plans to continue enhancing its corporate governance and transparency by voluntarily disclosing financial information quarterly[3]. - The company plans to enhance its development strategy by focusing on high-value-added businesses and optimizing asset allocation in response to the economic recovery challenges[28]. - The company aims to leverage potential development opportunities arising from the "Guangdong-Hong Kong-Macao Greater Bay Area" strategy and explore related market acquisition opportunities[28]. - The company will maintain a stable development strategy to ensure risk control and create long-term value for stakeholders[28]. Construction and Other Operations - The construction service revenue for the period was HKD 211,304,000, down from HKD 1,161,003,000 in 2023[11]. - The total revenue from the energy projects decreased by 8.1% to HKD 1,215,920,000, while the pre-tax profit increased by 37.0% to HKD 121,921,000 due to lower coal prices[24]. - The total revenue from the department store operations decreased by 1.7% to HKD 582,158,000, with a pre-tax profit decline of 30.8% to HKD 46,697,000[21]. - The total area of the department stores operated by the company was approximately 194,390 square meters, a decrease from 209,900 square meters in the previous year[21]. Traffic and Toll Revenue - The average daily toll traffic on the Xingliu Expressway decreased by 2.7% to 26,348 vehicles, down from 27,083 vehicles in 2023[25]. - Toll revenue for the period was HKD 479,085,000, a decrease of 5.3% compared to HKD 506,161,000 in 2023, impacted by a 1.3% decline in the RMB to HKD exchange rate[25].
粤海投资(00270) - 2024 Q3 - 季度业绩