恒基地产(00012) - 2024 - 年度业绩

Financial Performance - The group's attributable profit for the year ended December 31, 2024, was HKD 9.77 billion, an increase of HKD 68 million or 1% compared to HKD 9.70 billion in the previous year[2]. - Basic earnings per share for the year were HKD 2.02, up from HKD 2.00 in 2023[2]. - The group's attributable profit after accounting for fair value losses and adjustments was HKD 6.29 billion, a decrease of HKD 2.96 billion or 32% from HKD 9.26 billion in the previous year[2]. - The proposed final dividend is HKD 1.30 per share, with a total dividend of HKD 1.80 per share for the year, unchanged from the previous year[3]. - Total revenue for the year ended December 31, 2024, was HKD 25,256 million, a decrease of 8.3% from HKD 27,570 million in 2023[112]. - Net profit for the year was HKD 7,283 million, down 25.5% from HKD 9,778 million in the previous year[114]. - Basic and diluted earnings per share decreased to HKD 1.30 from HKD 1.91, representing a decline of 32.0%[114]. - Total comprehensive income for the year was HKD 5,257 million, down 30.6% from HKD 7,575 million in 2023[116]. - The company's net asset value stood at HKD 340,577 million, slightly down from HKD 344,100 million[119]. - The group’s total revenue for the fiscal year 2024 was HKD 25,256 million, a decrease of 8.4% compared to HKD 27,570 million in fiscal year 2023[130]. Property Development - The group's attributable revenue from property development in Hong Kong decreased by 16% to approximately HKD 12.32 billion[5]. - The total contract sales amount for self-owned properties in Hong Kong was approximately HKD 11.28 billion for the year ended December 31, 2024[6]. - The group has acquired approximately 1.7 million square feet of self-owned floor area for urban redevelopment projects[8]. - The total floor area of properties under development or planned for development is approximately 12.3 million square feet[11]. - The company has 24 ongoing development projects with a total remaining saleable area of 1,994,363 square feet, of which 1,397,524 square feet is attributable to the group[13]. - The company plans to launch 10 new projects in 2025, with a total saleable area of 3,216,989 square feet, including the major project at Kai Tak with 1,205,028 square feet[18]. - The company has a 30% interest in the Kai Tak New Kowloon Inland Lot project, which is expected to yield substantial returns upon completion[18]. - The company is focusing on expanding its market presence through strategic developments in high-demand areas such as Kai Tak and Hung Hom[18]. - The total remaining saleable area for residential units is projected to be 1,799,372 square feet by 2025, indicating strong future sales potential[20]. - The company plans to launch 11 development projects in Hong Kong this year, with an estimated 6,400 self-owned residential units or approximately 3 million square feet of self-owned residential floor area available for sale by 2025[104]. Rental Income and Property Management - The total rental income attributable to the group in Hong Kong increased by 2% to HKD 6.84 billion for the year ending December 31, 2024[33]. - The average occupancy rate of the group's rental properties in Hong Kong was 93% as of December 31, 2024[34]. - The group has a total of 10.4 million square feet of completed rental properties, with 54% being retail space and 40% being office space[34]. - The group’s rental income from the International Finance Centre project decreased by 5% to HKD 1.62 billion[33]. - The group’s retail properties have maintained high occupancy rates despite challenges in the retail market, with some malls exceeding pre-pandemic visitor levels[36]. - The group’s office property portfolio remains resilient, with stable occupancy rates despite economic uncertainties and significant new supply[39]. - The group completed several development projects in Hong Kong, including The Henderson with a total floor area of 465,005 sq ft and a 100% ownership interest[43]. - The group manages over 79,000 residential and commercial units, totaling 10 million sq ft of shopping mall and office space, along with 20,000 parking spaces, establishing a leading position in the industry[44]. Market Expansion and Strategic Initiatives - The company is actively pursuing new strategies for market expansion and product development to enhance its competitive position in the real estate sector[18]. - The company is in the process of acquiring additional urban redevelopment projects, with an estimated self-owned floor area of about 177,000 square feet expected post-reconstruction if all rights are acquired[24]. - The company is developing a comprehensive property project at Central Waterfront No. 3, with a total floor area of 1.6 million square feet and over 300,000 square feet of green recreational space, expected to be completed in two phases by Q4 2026 and Q4 2032[28]. - The company plans to expand its market presence in mainland China, targeting a 10% increase in market share over the next fiscal year[158]. - The company is exploring potential acquisitions to diversify its product offerings and expand its customer base[158]. - The company is investing HKD 300 million in technology development to enhance operational efficiency[158]. Environmental and Sustainability Initiatives - The group has secured over HKD 50 billion in green loans and sustainable development loan quotas since 2020, reflecting its commitment to environmental sustainability[98]. - The group has achieved various environmental certifications for its projects, including BEAM Plus and LEED Platinum pre-certification[28]. - The company initiated Hong Kong's first green hydrogen project, expected to produce about 330 kilograms of hydrogen daily by 2025[85]. - EcoCeres, a strategic partner, produced approximately 180,000 tons of sustainable aviation fuel (SAF), capturing about 20% of the global SAF market[82]. - The green methanol production facility in Inner Mongolia has an annual capacity of 100,000 tons, expected to increase to 150,000 tons by the end of 2025[84]. Challenges and Market Conditions - The company recorded a total self-owned contract sales amount of approximately RMB 3.085 billion, a decrease of 48% compared to the previous year, with a corresponding sales area of 220,000 square feet, down 41%[55]. - The average annual completion of private residential units in the next five years is projected to decrease by about 8% compared to the previous five years, which is expected to support the local property market[103]. - The company reported a foreign exchange loss of HKD 546 million in 2024, contrasting with a gain of HKD 353 million in 2023[145]. - The company’s accounts payable aging analysis shows that overdue amounts increased from HKD 1,733 million in 2023 to HKD 2,719 million in 2024, indicating a potential liquidity concern[185]. Future Outlook - The company has set a performance guidance of HKD 13 billion in revenue for the next fiscal year, representing a growth target of 5%[158]. - The company aims for a revenue growth target of 8% for the upcoming fiscal year, driven by market expansion and new product offerings[163]. - Future guidance indicates a focus on enhancing operational efficiency and increasing revenue streams[164].