Financial Performance - For the six months ending December 31, 2022, the group reported an interim performance excluding the impact of fair value changes in investment properties[8]. - The company's revenue for the six months ended December 31, 2022, was HKD 6,406,167,141, a decrease of 41.5% compared to HKD 10,913,891,469 for the same period in 2021[34]. - Gross profit for the same period was HKD 2,783,321,404, down from HKD 5,538,848,425, reflecting a decline of 49.9%[34]. - The net profit for the period was HKD 2,463,702,889, a decrease of 43.6% from HKD 4,378,095,767 in the previous year[34]. - Basic earnings per share decreased to HKD 0.68 from HKD 1.19, representing a decline of 42.9%[34]. - Total comprehensive income for the period was HKD 2,245,806,130, down from HKD 4,498,251,657 year-on-year, reflecting a decline of 50%[36]. - The total profit attributable to shareholders for the six months ended December 31, 2022, was HKD 1,559,224,277, compared to HKD 2,395,460,913 for the same period in 2021, indicating a decline of about 34.9%[67]. - The company reported a financial gain of HKD 589,310,036 for the period, significantly up from HKD 132,032,200 in the previous year[34]. Dividend Information - The interim dividend proposed is HKD 0.15 per share, with the expected dispatch date for dividend statements around April 18, 2023[7]. - The interim dividend declared was HKD 0.15 per share, consistent with the previous year[9]. - The company declared an interim dividend of HKD 0.15 per share for the six months ended December 31, 2022, totaling HKD 306,639,659, which is an increase from HKD 298,908,004 for the same period in 2021[63]. Property Sales and Development - The total property sales revenue attributable to the company was HKD 3.899 billion, down from HKD 8.49 billion in 2021[9]. - The company plans to launch multiple new projects, including ONE CENTRAL PLACE and other residential developments, with two additional projects expected to receive pre-sale consent in 2023[10]. - The company sold 98.4% of the units in the Kaihui project and 60.6% in the Victoria Harbour project[9]. - Property sales revenue amounted to HKD 3,947,351,849, down from HKD 8,685,166,816, reflecting a decline of 54.5% year-over-year[48]. Rental and Hotel Operations - Total rental income for the first half of the year was HKD 1.728 billion, a decrease of 3.8% year-on-year from HKD 1.799 billion[18]. - Net rental income decreased by 4.9% to HKD 1.480 billion compared to HKD 1.558 billion in the previous year[18]. - Hotel revenue for the period was HKD 689.28 million, significantly up from HKD 247.7 million in the same period last year[19]. - Hotel operations generated revenue of HKD 455,151,150, compared to HKD 194,913,796, representing a significant increase of 133.3% year-over-year[48]. Financial Position - The group reported a net cash position of HKD 413.21 billion as of December 31, 2022, after deducting total borrowings of HKD 40.168 billion[22]. - The total assets and shareholders' equity of the group were HKD 181.54 billion and HKD 89.74 billion, respectively, with a book net asset value per share of HKD 43.9 as of December 31, 2022[22]. - The company's total assets as of December 31, 2022, were HKD 160,966,278,011, reflecting a stable asset base[40]. - The company's equity attributable to shareholders increased to HKD 89,742,874,245 from HKD 88,258,646,727, reflecting a growth of 1.7%[39]. Sustainability and Corporate Governance - The group was awarded a five-star rating in the Global Real Estate Sustainability Benchmark (GRESB) assessment, recognizing its commitment to sustainable development[23]. - The group aims to integrate sustainable development into all aspects of its business operations, focusing on creating long-term value for stakeholders and the community[23]. - The company has implemented sustainable development measures, including the WELL™ certification for its new hotel project, which opened in July 2022[31]. - The company established a Compliance Committee to enhance corporate governance, which meets bi-monthly to review compliance reports and provide regulatory updates[122]. Market Outlook and Strategic Focus - The company continues to focus on strategic investments and market expansion to drive future growth[8]. - The company is optimistic about the recovery of hotel demand in core markets as leisure travel is expected to rise[21]. - The company anticipates that the easing of interest rate pressures and the reopening of China will support the Hong Kong residential market[31]. - The company remains focused on enhancing operational efficiency through digital platforms to improve customer engagement[31]. Shareholder Communication - The company has posted its interim report on its website, allowing shareholders to access it electronically or request printed copies[3]. - Shareholders can change their preferred method of receiving corporate communications by notifying the company's share registrar[4]. - The company is committed to enhancing shareholder communication through various channels, including email and fax[7]. Corporate Structure and Management - The board of directors includes independent non-executive members, ensuring corporate governance and oversight[7]. - The company has established a remuneration committee to oversee the compensation policies for all directors and senior management[119]. - The audit committee reviewed the accounting policies and practices adopted by the company for the six months ending December 31, 2022[121].
TST PROPERTIES(00247) - 2023 - 中期财报