NEW WORLD DEV(00017)2022-10-25 09:03Financial Performance - The group recorded total revenue of HKD 68,212.7 million, remaining stable compared to the fiscal year 2021 [17]. - Basic profit increased by 1.8% to HKD 7,084.6 million, while profit attributable to shareholders rose by 8.5% to HKD 1,249.2 million [18]. - The group achieved a reduction of approximately 4.7% in recurring administrative and operational expenses due to strict cost control measures [18]. - Non-core asset sales for the fiscal year 2022 amounted to approximately HKD 13.9 billion, exceeding the annual target [18]. - Overall financing costs decreased from 2.8% in fiscal year 2021 to 2.5% in fiscal year 2022 [18]. - The final dividend for the fiscal year 2022 was HKD 1.5 per share, maintaining a sustainable and progressive dividend policy [18]. Property Development - Property contract sales in Hong Kong amounted to approximately HKD 8.24 billion, while total property contract sales in mainland China reached approximately RMB 171.0 billion, with the southern region contributing about 73% [18]. - The segment performance for mainland property development grew by 10.9% year-on-year, with profit margin increasing from 40% in fiscal year 2021 to 57% in fiscal year 2022 [18]. - In the fiscal year 2022, the company's property development revenue in Hong Kong, including joint ventures, was HKD 5,842.8 million, with segment performance contributing HKD 2,384.1 million [27]. - The company's attributable property contract sales in Hong Kong amounted to approximately HKD 8.24 billion, primarily from residential projects such as Ying Hai and Aloha, as well as the Grade A office project, South Commercial Financial Innovation Center [27]. - The South Commercial Financial Innovation Center, a Grade A office project, was completed in May 2022, with a total floor area of approximately 520,000 square feet, and 73% of the total floor area sold, contributing HKD 6.0 billion to property contract sales [27]. Investment and Land Reserves - Available funds totaled approximately HKD 105 billion, including cash and bank balances of about HKD 62.2 billion and available bank loans of approximately HKD 42.8 billion [18]. - The company has a land reserve in Hong Kong of approximately 9,318,700 square feet and agricultural land reserve of about 16,327,400 square feet as of June 30, 2022 [26]. - The company successfully acquired a residential project site in Kai Tak for a total consideration of HKD 7.948 billion, enhancing its land reserve in a prime location [29]. - The company plans to develop four agricultural land sites in Yuen Long, with a total floor area of approximately 500,000 square feet, expected to provide over 9,000 residential units [29]. Social Responsibility and Community Engagement - The group aims to align business success with social progress, contributing to national development and economic growth [19]. - The company established a non-profit social enterprise, "New World Build a Good Life," at the end of 2021 to alleviate housing pressure for young people in Hong Kong [22]. - The company is actively involved in social innovation initiatives, including the establishment of a non-profit housing organization aimed at addressing local housing issues [32]. - The group launched the "Share for Good" donation matching platform during the peak of the pandemic in March 2022, effectively delivering supplies to those in need [60]. - The group has initiated various community support measures, including the provision of 200 large heaters during a winter cold snap and offering hotel rooms for healthcare workers [60]. Sustainability and Environmental Initiatives - The company is committed to sustainable development with a "2030 Sustainable Development Vision," focusing on environmental protection, health, intelligence, and care [22]. - The company aims to achieve net-zero emissions by 2050, with short-term targets approved by the Science Based Targets initiative [91]. - The company has launched the "Create Shared Value Leasing" program to enhance tenant awareness of sustainability and reward performance in energy saving and waste management [84]. - The company has been recognized with over 40 sustainability awards for corporate and construction projects in the fiscal year 2022 [82]. - The company has committed to linking its 2030 sustainability vision performance with the compensation of its CEO and employees [84]. Governance and Leadership - Dr. Zheng Jiachun has been the chairman since March 2012 and has extensive experience in various public companies in Hong Kong [68]. - Dr. Zheng Zhigang has been the executive vice chairman and CEO since May 2020, overseeing strategic directions for property development and investment projects [70]. - The board includes independent non-executive directors who contribute to the audit and remuneration committees, ensuring corporate governance [72]. - The company emphasizes the importance of risk management and wealth management in its strategic planning [76]. - The company is committed to enhancing its governance structure through the appointment of qualified and experienced board members [73][74][75][76]. Employee Engagement and Development - The employee satisfaction survey covered 16 categories, with sustainability, culture, performance management, diversity and inclusion, and corporate governance receiving the highest scores [199]. - The company emphasizes diversity and inclusion in its recruitment and training processes, ensuring equal opportunity for all applicants [199]. - Mandatory ESG and innovation training is provided to all employees, including board members, to address climate change and business redesign needs [200]. - The company is committed to professional development through various training opportunities, including workshops led by internal and external experts [199]. - The employee satisfaction working group was established to gather feedback and improve employee engagement and satisfaction [199]. Technology and Innovation - The company has implemented a blockchain platform for property transactions, enhancing customer service and streamlining the buying process [185]. - The company has established Asia's largest hybrid solar photovoltaic and thermal energy system, producing 177,000 kWh of energy annually [145]. - The company has integrated IoT monitoring devices in 11 SKIES to manage indoor air quality in real-time, reducing the risk of air pollution transmission [184]. - The company collaborates with Tencent Cloud to develop smart screens in the Guangfo New World project, integrating information and data effectively [193]. - The implementation of Building Information Modeling (BIM) technology has optimized resource usage across project lifecycles, contributing to improved efficiency [174]. Market Expansion and Future Projects - The company aims to launch 28 K11 projects in Hong Kong and mainland China by fiscal year 2026, enhancing the unique shopping experience nationwide [22]. - The "11 Sky" project at Hong Kong International Airport is set to open in phases from 2022 to 2025, with a total floor area of 3.8 million square feet [58]. - The company plans to increase the proportion of female board members to 30% in the fiscal year 2023 to enhance board diversity [86]. - The K11 ECOAST project in Shenzhen, set to open by the end of 2024, covers a total floor area of 228,500 square meters and aims to promote sustainable living through innovative design and environmental protection [110]. - The company has successfully generated 36 business integrations with 30 startups over the past three years, addressing social and environmental challenges [126].