Financial Performance - The company reported an unaudited loss attributable to shareholders of HKD 425 million for the six months ended June 30, 2023, compared to a profit of HKD 229 million in the same period of 2022[6]. - Adjusted loss attributable to shareholders, after accounting for unrealized fair value changes from investment properties, was HKD 274 million, down from a profit of HKD 458 million in 2022[6]. - Basic loss per share was HKD 0.141, compared to basic earnings per share of HKD 0.076 in the previous year[6]. - Total revenue for the six months ended June 30, 2023, was HKD 1,495,148 thousand, a decrease of 20.9% from HKD 1,889,517 thousand in the same period of 2022[57]. - The group reported a net loss of HKD 417,749 thousand for the six months ended June 30, 2023, compared to a profit of HKD 305,704 thousand in the same period of 2022[57]. - The group's financing costs increased to HKD 299,878 thousand in the first half of 2023, compared to HKD 152,879 thousand in the same period of 2022[57]. - Cash generated from operating activities is HKD 498,069, down 23.1% from HKD 647,966 in the previous year[65]. - Net cash from operating activities after tax payments is HKD 485,086, a decrease of 16.1% compared to HKD 578,020 last year[65]. - The company reported a net cash outflow from investing activities of HKD 1,405,632, compared to a net inflow of HKD 499,904 in the previous year[65]. - The company incurred financing costs totaling HKD 336,007,000 for the six months ended June 30, 2023, compared to HKD 166,770,000 in the previous year[83]. Real Estate Performance - The real estate segment recorded a profit of HKD 223 million in the first half of 2023, a decrease from HKD 610 million in the same period of 2022[8]. - The company achieved a sales rate of 98% for the residential project "Ho Po" in Macau, with a total of 620 units[9]. - The "Hengqin Comprehensive Development Project" has sold 422 residential units as of June 30, 2023, with 421 units delivered to buyers[11]. - The Shanghai Suhewan comprehensive development project has a total saleable floor area of over 82,000 square meters and a total leasable area exceeding 158,000 square meters, with a shopping mall occupancy rate of 91% in the first half of 2023[17]. - The Singapore project "Baihao" has a total floor area of approximately 125,000 square feet, with 48 units sold as of June 30, 2023, including 3 penthouses, and 4 units sold in the first half of 2023[20]. - The "Lanshinju" project in Singapore has sold 12 units as of June 30, 2023, with 3 units sold in the first half of 2023, and construction is expected to be completed within 2023[20]. Hotel and Leisure Performance - The hotel and leisure division reported a profit of HKD 6 million in the first half of 2023, compared to a loss of HKD 130 million in the same period of 2022[31]. - The average occupancy rate for the Hong Kong SkyCity Marriott Hotel was 56% as of June 30, 2023, amid increasing competition in the airport and Tung Chung area[32]. - The Mandarin Oriental, Macau achieved a 56% average occupancy rate in the first half of 2023, benefiting from the lifting of travel restrictions and stable growth in bookings and related services[32]. - The average occupancy rate for the Macau Luhuan Haitan Resort Hotel was 51% in the first half of 2023, following its reopening in December 2022[35]. - The Beijing Dongzhimen Yacheng Hotel achieved an average occupancy rate of 77% as of June 30, 2023, benefiting from the significant recovery in the tourism industry[35]. - The company plans to launch two new hotels in mainland China in the second half of 2023, increasing its presence in Shanghai to ten properties by year-end[34]. Investment and Development Projects - The company has partnered with a Singapore-based group to develop a 330,000 square meter healthcare project near Tianjin South High-Speed Railway Station, expected to commence operations in Q4 2023[15]. - The Shanghai Qiantan 31 project, developed in joint venture, has completed construction and is preparing for a Q4 2023 opening[16]. - The company is collaborating with Singapore-based Perennial Group to develop two hotel projects, including a hotel in Tianjin with 982 rooms[34]. - The company has committed to invest approximately USD 88 million in an associate for healthcare-related real estate projects in China as of June 30, 2023, compared to USD 94 million as of December 31, 2022[101]. Occupancy Rates and Performance Metrics - The "Shengyue Mall" in Hong Kong has an occupancy rate of 98% as of June 30, 2023, following a restructuring of the tenant mix[21]. - The "Xibao City" shopping mall in Hong Kong has an occupancy rate of 89% as of June 30, 2023, with a focus on family-oriented tenants[21]. - The "Star Horizon Plaza" in Macau achieved an occupancy rate of 88% in the first half of 2023, with successful lease renewals for major tenants[24]. - The "One Plaza" shopping mall in Hong Kong has an occupancy rate of 88% as of June 30, 2023, benefiting from increased tourist foot traffic[25]. - The "Xinde Jinghui Center" in Beijing has an office occupancy rate of 67% as of June 30, 2023, with gradual business recovery post-pandemic[26]. - The Guangzhou Xinde Business Building has an average occupancy rate of 78% as of June 30, 2023, comprising a six-story shopping mall and a 32-story office building[26]. Financial Position and Capital Management - As of June 30, 2023, the group's bank balances and deposits reached HKD 7,097 million, an increase of HKD 559 million compared to December 31, 2022[50]. - The group's capital and debt ratio was 29.7% as of June 30, 2023, up from 28.3% on December 31, 2022[50]. - The company has unfulfilled capital commitments of approximately HKD 688 million related to its investment in Perennial HC Holdings Pte. Ltd.[52]. - The company has not made any significant acquisitions or disposals during the reporting period[51]. - The total value of retained earnings as of June 30, 2023, was HKD 22,434,360 thousand, down from HKD 22,859,815 thousand[61]. - The company's equity attributable to owners decreased from HKD 33,392,311 thousand to HKD 31,877,606 thousand, a decline of approximately 4.53%[61]. Shareholder Information - The company reported a total of 3,020,379,785 issued and fully paid ordinary shares as of June 30, 2023, unchanged from December 31, 2022[93]. - Ms. Ho Chiu-king held 18.14% of the total issued shares, amounting to 373,620,627 shares[118]. - Renita Investments Limited owns 500,658,864 shares, accounting for 16.58% of the issued shares[124]. - No share buybacks or repurchases were made by the company or its subsidiaries during the six months ending June 30, 2023[126]. Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and CEO[126]. - The unaudited condensed consolidated interim financial statements for the six months ended June 30, 2023, have been reviewed by the Audit and Risk Management Committee[131]. - The external auditor, PwC, conducted the review in accordance with the Hong Kong Institute of Certified Public Accountants' standards[131].
信德集团(00242) - 2023 - 中期财报