Financial Performance - The group's revenue for the six months ended June 30, 2024, was HKD 1,213 million, a decrease from HKD 3,100 million in the same period last year[3] - The attributable profit for the period was HKD 153.8 million, down from HKD 481.9 million year-on-year, resulting in earnings per share of HKD 4.91 compared to HKD 15.38 previously[4] - The total comprehensive loss for the period was HKD 1,433.8 million, compared to a loss of HKD 1,255.997 million in the previous year[5] - The group reported a significant fair value change in financial assets, with a loss of HKD 1,194.3 million for the period[5] - Total revenue for the six months ended June 30, 2024, was HKD 1,213,010,000, a decrease of 60.8% compared to HKD 3,100,250 for the same period in 2023[18] - Property sales revenue for the six months ended June 30, 2024, was HKD 846,318, down 68.9% from HKD 2,734,990 in 2023[18] - The company reported a pre-tax profit of HKD 153,787 for the six months ended June 30, 2024, compared to HKD 481,907 in 2023, reflecting a decline of 68.1%[22] - The attributable profit to equity holders for the period was HKD 154,000,000, while core profit (excluding fair value changes of investment properties) was HKD 132,000,000[28] Assets and Liabilities - The group's total assets as of June 30, 2024, were HKD 71.48 billion, a slight decrease from HKD 72.51 billion at the end of 2023[6] - The group's total liabilities were reported at HKD 27,950,159,000, with significant liabilities in mainland China amounting to HKD 18,852,287,000[15] - Non-current assets as of June 30, 2024, totaled HKD 17,021,826, slightly down from HKD 17,042,886 as of December 31, 2023[18] - The company’s total assets as of June 30, 2024, were HKD 72,506,967, compared to HKD 72,506,967 as of December 31, 2023[18] - The company’s total liabilities as of June 30, 2024, were HKD 27,409,526, a decrease from HKD 27,409,526 as of December 31, 2023[18] Cash and Cash Equivalents - The group's cash and cash equivalents increased to HKD 9.29 billion from HKD 7.50 billion year-on-year[6] - As of June 30, 2024, the group's cash and bank deposits amounted to HKD 9,291,000,000, an increase from HKD 7,496,000,000 as of December 31, 2023[37] Debt and Financing - The group's debt ratio decreased from 17% at the end of last year to 11% as of June 30, 2024[3] - The group's borrowings as of June 30, 2024, were HKD 14,019,000,000, with an average borrowing rate reduced from 4.7% to 4.6%[36] - The total amount of interest rate swap contracts signed by the group as of this period end was HKD 2,000,000,000, unchanged from December 31, 2023[38] - The total value of mortgaged assets for certain subsidiaries was HKD 4,369,000,000 as of June 30, 2024, down from HKD 5,242,000,000 as of December 31, 2023[39] - The group provided guarantees for credit facilities totaling HKD 28,248,000,000 as of June 30, 2024, a decrease from HKD 28,693,000,000 as of December 31, 2023[40] Dividends - The company declared an interim cash dividend of HKD 126,109,000, equating to HKD 0.04 per share, down from HKD 0.07 per share in 2023[23] - The interim cash dividend declared for the six months ended June 30, 2024, is HKD 0.04 per share, totaling HKD 126,109,000, compared to HKD 0.07 per share and HKD 219,303,000 for the same period in 2023[45] Future Outlook and Strategy - The group plans to continue seeking land reserves in Hong Kong and the Greater Bay Area, leveraging its financial resources[3] - The group anticipates no significant impact on its financial performance and position from the adoption of new accounting standards and interpretations[10] - The group expects to continue evaluating the impact of new accounting standards on its operations[10] - The group plans to continue monitoring land market opportunities in Hong Kong and mainland China to maximize potential returns[34] Operational Highlights - The group's signed but unrecognized sales amounted to HKD 51 billion as of June 30, 2024, with total signed sales of HKD 161 billion[3] - The group successfully sold all residential units of the new project Shanghai Jiajun Ting, generating sales of RMB 3.7 billion[30] - The average occupancy rate for the premium office building Shanghai Jiahua Center was maintained at 92%, while serviced apartments in Shanghai recorded an overall occupancy rate of 90%[30] - The group's investment in Galaxy Entertainment Group amounted to 162,000,000 shares, representing a 3.72% stake, with a fair value change of approximately HKD 1.2 billion recorded in reserves[31] Management and Governance - The executive directors include Dr. Lui Che-woo (Chairman and Managing Director) and others, while the independent non-executive directors include Mr. Wong Kwai-lam and others[48]
嘉华国际(00173) - 2024 - 中期业绩