恒隆集团(00010) - 2023 - 年度业绩

Revenue Performance - Total revenue for the year ended December 31, 2023, decreased by 1% to HKD 10,881 million, impacted by RMB depreciation and a decline in property sales revenue[4] - Total revenue for 2023 reached HKD 219.081 billion, a slight increase from HKD 214.679 billion in 2022[57] - Total revenue for 2023 was HKD 10,881 million, a slight decrease of 0.5% from HKD 10,941 million in 2022[55] Rental Income - Rental income increased by 2% to HKD 10,879 million, with mainland rental income rising by 3% and Hong Kong rental income also increasing by 2%[5] - Total rental income for 2023 increased by 7% to RMB 6,651 million, with operating profit rising by 8%[8] - Overall rental income growth in Hong Kong dollars was limited to 3% due to the depreciation of the RMB[8] Profitability - Overall operating profit rose by 1% to HKD 7,794 million, with a breakdown showing mainland operating profit at HKD 5,007 million and Hong Kong at HKD 2,787 million[3] - Shareholders' basic net profit decreased by 2% to HKD 2,931 million, resulting in basic earnings per share of HKD 2.15[4] - The net profit for the year was HKD 4,915 million, representing an increase of 2.5% compared to HKD 4,795 million in 2022[50] Property Sales and Valuation - The net revaluation loss of properties attributable to shareholders was HKD 120 million, compared to a loss of HKD 284 million in 2022[4] - Property sales revenue significantly dropped to HKD 2 million in 2023 from HKD 316 million in 2022[55] - The company reported a net gain from the sale of non-core investment properties amounted to HKD 11 million during the reporting year[27] Debt and Financial Position - The net debt-to-equity ratio increased to 28.6% from 25.9% in the previous year[3] - Total borrowings as of December 31, 2023, reached HKD 50,693 million, up from HKD 45,953 million in 2022, with RMB-denominated borrowings constituting 29%[36] - The average effective borrowing rate rose to 4.3% in 2023 from 3.5% in 2022, leading to a 29% increase in total financial costs to HKD 1,987 million[42] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.65 per share, maintaining the same level as the previous year[6] - Basic earnings per share for 2023 were HKD 2.15, down from HKD 2.20 in 2022, indicating a decrease of 2.3%[66] Operational Highlights - Tenant sales and rental income in mainland China increased by 23% and 7% respectively year-on-year, reflecting a recovery in business[7] - Hotel operations saw a significant recovery, with revenue increasing by 90% year-on-year due to the easing of travel restrictions[8] - The company plans to enhance its shopping experience by constructing a new retail building of approximately 3,000 square meters at Shanghai Hang Lung Plaza[11] Employee and Governance - As of December 31, 2023, the total number of employees was 4,213, including 968 in Hong Kong and 3,245 in mainland China[71] - The company adhered to the corporate governance code as per the Hong Kong Stock Exchange during the year[72] - The company regularly reviews employee compensation to ensure competitiveness and compliance with regulations[71] Future Plans and Projects - The company plans to launch several new projects in mainland China, including high-end serviced apartments and hotels, with phased completions starting in 2024[31] - The company plans to launch new projects, including Hangzhou Henglong Plaza by the end of 2024 and Kunming Junyue Hotel in mid-2024, to capture post-pandemic business and leisure travel opportunities[48] Environmental Initiatives - The company has established a strategic partnership with a carbon capture technology firm to develop low-carbon recycled aggregates, marking a significant step towards decarbonization in real estate projects[45] - The company successfully reduced urban solid waste by nearly 140,000 kg and avoided over 510 tons of carbon emissions through its office renovation project[46]