英皇国际(00163) - 2024 - 中期业绩

Financial Performance - Total revenue increased by 49.7% to HKD 810,300,000 for the six months ended September 30, 2023, compared to HKD 541,200,000 in 2022[17] - Core profit attributable to shareholders was HKD 213,200,000, a significant recovery from a loss of HKD 19,200,000 in 2022[18] - The group reported a net loss of HKD 760,100,000, narrowing from a loss of HKD 956,400,000 in the previous year[18] - Total revenue for the six months ended September 30, 2023, was HKD 810,285,000, a 49.8% increase from HKD 541,245,000 in 2022[29] - Core profit attributable to the company's owners was HKD 213,170,000, compared to a loss of HKD 19,197,000 in the previous year[29] - The gross profit for the period was HKD 492,653,000, significantly up from HKD 230,995,000 in 2022[29] - The total comprehensive income attributable to the company's owners for the six months ended September 30, 2023, was a loss of HKD 1,081,313, compared to a loss of HKD 1,950,116 for the same period in 2022, representing a 44.5% improvement[48] - The group reported a total loss of HKD 757,072,000 for the period, compared to a loss of HKD 1,037,256,000 in the same period last year, indicating a reduction in losses[83] Revenue Sources - Hotel services revenue surged by 261.3% to HKD 348,800,000, accounting for 43.1% of total revenue[17] - Rental income increased to HKD 448,938,000 from HKD 430,692,000, reflecting a growth of 4.8%[29] - The service revenue from gaming operations reached HKD 215,645,000, a significant increase from HKD 24,382,000 in the same period last year, representing a growth of 786%[81] - Hotel room revenue was HKD 79,842,000, compared to HKD 34,335,000 in the previous year, marking a growth of 132%[81] - Total revenue from customer contracts amounted to HKD 361,347,000, up from HKD 110,553,000, reflecting a growth of 227%[81] - The total income from property leasing was HKD 448,938,000, while property development contributed HKD 12,506,000, and related businesses generated HKD 348,841,000, leading to a total of HKD 810,285,000[83] Asset and Liability Management - The net asset value as of September 30, 2023, was HKD 22,794,900,000, with a net asset value per share of HKD 6.2[8] - The net debt ratio was 39.1% as of September 30, 2023, slightly improved from 39.3% as of March 31, 2023[28] - The group's total assets less current liabilities as of September 30, 2023, amounted to HKD 37,796,435, down from HKD 39,971,144 as of March 31, 2023, indicating a decrease of 5.4%[73] - The total liabilities of the group as of September 30, 2023, were HKD 13,113,978, compared to HKD 13,726,000 as of March 31, 2023, showing a reduction of 4.5%[70] - The net asset value attributable to the owners of the company as of September 30, 2023, was HKD 22,794,912, down from HKD 23,887,196 as of March 31, 2023, representing a decrease of 4.6%[75] - As of September 30, 2023, the outstanding principal of medium-term notes issued by the group was HKD 379,600,000, down from HKD 1,247,300,000 as of March 31, 2023[87] Operational Developments - The group plans to launch the residential project "Cheng Tian" for pre-sale in November 2023, with strong market response expected[25] - The group plans to complete the redevelopment project of a luxury residential building in Central by 2024 or later, which is expected to enhance future revenue streams[60] - The company has completed the foundation work for a new residential building in Happy Valley, expected to be finished in 2024 or later[39] - The group completed the sale of a shopping mall in North Point for approximately HKD 1,944,200,000, enhancing its financial position[22] - The group completed the sale of its entire equity interest in Joybridge Services Limited for an adjusted total consideration of approximately HKD 1,944,215,000 on September 22, 2023[136] Employee and Dividend Information - The total employee cost for the period was HKD 223,100,000, down from HKD 252,400,000 in 2022, with an increase in employee count to 946 from 768[44] - The interim dividend declared was HKD 0.003 per share, totaling approximately HKD 11,000,000, compared to HKD 18,400,000 in the previous year[45] - The group paid an interim dividend of HKD 0.003 per share, totaling approximately HKD 11,033,000, down from HKD 18,388,000 in 2022[127] Risk Management - The group closely monitors its foreign exchange risk due to some bank borrowings being denominated in RMB and GBP, and will take appropriate measures to mitigate currency risks as necessary[64] - The group has not granted credit periods to tenants of leasehold properties, ensuring a strict internal assessment of potential tenants' credit quality[134] Investment Properties - The fair value loss on investment properties was HKD 462,781,000, an improvement from a loss of HKD 899,695,000 in the previous year[29] - The fair value of investment properties decreased by approximately HKD 462,781,000, compared to a decrease of HKD 899,695,000 in 2022[103] - The fair value of investment properties as of September 30, 2023, was determined based on independent professional property valuers[113] Miscellaneous - The group has implemented a share option scheme to incentivize employees, which is expected to enhance employee performance and retention[65] - The group incurred additional costs of approximately HKD 185,021,000 for properties, machinery, and equipment during the period, compared to HKD 150,870,000 in 2022[114] - The group recognized a write-down of HKD 131,907,000 for the period, with a reversal of previously recognized write-downs amounting to HKD 90,455,000[105] - The group experienced a net exchange loss of HKD 38,498,000 during the period, compared to a loss of HKD 163,165,000 in the previous year[92] - The group plans to maintain various financing channels, including bank borrowings and bond issuance, to support operational funding[87] - The company will suspend shareholder registration from December 13 to December 14, 2023, for the purpose of determining eligibility for interim dividends[88]