嘉里建设(00683) - 2024 - 年度业绩

Financial Performance - The consolidated revenue for the year ended December 31, 2024, was HKD 21,361 million, an increase of 18% compared to HKD 18,127 million in 2023[3]. - The group recorded a net profit attributable to shareholders of HKD 808 million, a decrease of 75% from HKD 3,243 million in 2023[3]. - Basic earnings per share for 2024 were HKD 0.56, down 75% from HKD 2.23 in 2023[11]. - The adjusted earnings per share increased by 25% to HKD 2.74 from HKD 2.20 in the previous year[11]. - The group's consolidated profit decreased by 13% to HKD 6,850 million, with a gross profit margin of 32%, down from 44% in the previous year[25]. - The group's basic profit, including impairment provisions, was HKD 2,576 million, a slight increase of 2% from HKD 2,518 million in 2023[23]. - The group reported a net profit of HKD 1,512 million for 2024, down from HKD 4,163 million in 2023, with basic and diluted earnings per share at HKD 0.56[64]. - The total tax expense for the year ended December 31, 2024, was HKD 1,070 million, down from HKD 2,696 million in 2023, indicating a reduction of about 60.3%[4]. Property Sales and Revenue - Property sales revenue reached HKD 13,830 million, up 33% from HKD 10,416 million in the previous year[3]. - Contract sales amounted to HKD 12,605 million, a decline from HKD 14,071 million in 2023, primarily due to reduced saleable resources in mainland China[8]. - The mainland property division recorded consolidated revenue of HKD 136,650 million, up from HKD 99,000 million in 2023, driven by increased recognized sales[35]. - The mainland property division reported consolidated revenue of HKD 7.457 billion in 2024, up from HKD 3.459 billion in 2023, driven by increased sales recognition from completed projects[36]. - The Hong Kong property division recorded consolidated revenue of HKD 7.696 billion in 2024, down from HKD 8.227 billion in 2023, primarily due to reduced sales recognition from development properties[43]. Investment Properties - Rental income from investment properties (excluding hotel operations) decreased by 2% to HKD 5,355 million from HKD 5,450 million in 2023[10]. - The investment property and hotel portfolio has a total attributable floor area of 18.6 million square feet, with 83% (15.5 million square feet) located in mainland China[21]. - The mainland investment property and hotel portfolio generated consolidated revenue of HKD 6.208 billion in 2024, down from HKD 6.441 billion in 2023, with rental income from investment properties contributing HKD 4.069 billion[38]. - The investment property portfolio in Hong Kong generated consolidated rental income of HKD 1.286 billion in 2024, an increase from HKD 1.234 billion in 2023, with a gross profit margin of 76%[47]. Debt and Financial Management - The debt ratio increased to 41.5% as of December 31, 2024, up from 34.1% in 2023, due to an increase in total debt[33]. - Total borrowings increased to HKD 595.81 billion in 2024 from HKD 551.31 billion in 2023, with net borrowings rising to HKD 483.74 billion[56]. - The group's available financial resources decreased by 13% to HKD 381.36 billion in 2024, covering approximately 64% of total borrowings[57]. - The group maintains a cautious financial policy to manage liquidity and financial risks, with regular reviews by the finance committee[52]. - The group plans to increase the proportion of sustainable financing in its overall debt portfolio to enhance cost efficiency and advance environmental goals[59]. Sustainability and Future Outlook - The company plans to reduce operational carbon emissions by 2% annually until 2030 as part of its sustainability goals[12]. - The company maintains an optimistic long-term growth outlook for the mainland market, driven by urbanization and rising middle-class consumption[14]. - The company plans to add 1.04 million square feet to its investment property and hotel portfolio over the next six years, including approximately 570,000 square feet of office space and 410,000 square feet of retail space[21]. - The company is focused on developing and selling premium and luxury properties in key urban areas of Hong Kong and mainland China, aiming to generate stable recurring income[97]. - The company remains committed to ESG initiatives, with plans to reduce carbon emissions by 30% over the next five years[112]. Corporate Governance and Compliance - The company has fully complied with the corporate governance code throughout 2024, except for the dual role of the chairman and CEO, which is deemed beneficial for business development[102]. - The annual general meeting for the year ending December 31, 2024, is scheduled for May 23, 2025[109]. - The company will publish its annual report on April 29, 2025, which will be available on the "disclosure" website and the company's website[111].