嘉里建设(00683) - 2018 - 年度财报

Financial Performance - The company's revenue for 2018 was HKD 21,433 million, a decrease of 40% compared to HKD 35,548 million in 2017[8] - Gross profit for 2018 was HKD 9,003 million, down 8% from HKD 9,745 million in 2017, resulting in a gross margin of 42.0%[8] - Operating profit decreased by 11% to HKD 9,772 million in 2018 from HKD 10,938 million in 2017, with an operating margin of 45.6%[8] - Shareholders' profit before fair value changes of investment properties was HKD 3,345 million, a 50% decline from HKD 6,651 million in 2017[8] - The net profit attributable to shareholders after fair value changes was HKD 7,499 million, down 19% from HKD 9,242 million in 2017[8] - The earnings per share after fair value changes was HKD 5.16, a decrease of 19% from HKD 6.40 in 2017[8] - The group's profit attributable to shareholders for the year ended December 31, 2018, was HKD 7.499 billion, a decrease of 19% from HKD 9.242 billion in 2017[27] - The fair value increase of the investment property portfolio attributable to shareholders was HKD 4.154 billion for the year ended December 31, 2018, compared to HKD 2.591 billion in 2017[30] Debt and Equity - The company's net debt decreased by 23% to HKD 18,727 million from HKD 24,274 million in 2017[8] - The company's total equity increased by 3% to HKD 97,541 million from HKD 94,349 million in 2017[8] - The group’s total foreign currency loans (excluding RMB loans) amounted to HKD 3.338 billion, while RMB bank loans totaled HKD 5.568 billion, representing approximately 10% and 17% of the total borrowings of HKD 33.111 billion, respectively[121] - As of December 31, 2018, the group's debt-to-equity ratio was 19.2%, down from 25.7% in 2017, with net debt of HKD 18.727 billion against equity of HKD 97.541 billion[121] Dividends - The company declared a final dividend of HKD 1.35 per share, a reduction of 10% from HKD 1.50 in 2017[8] - The board proposed a final dividend of HKD 0.95 per share, totaling HKD 1.35 per share for the year[19] - The board proposed a final dividend of HKD 0.95 per share, totaling an annual cash dividend of HKD 1.35 per share for the year ended December 31, 2018, down from HKD 1.50 in 2017[31] Property Development and Sales - The total value of property assets reached HKD 1217.94 billion in 2018, with a 55% contribution from mainland China[17] - The company successfully launched residential projects in Shenzhen, Nanjing, Hangzhou, Shenyang, and Qinhuangdao, achieving expected sales prices[21] - The company acquired land in Fuzhou and Wuhan, as well as commercial land in Qianhai, to enhance its land reserves[22] - The company plans to launch the key project "Tian Shan" in Hong Kong, which is a low-density residential project[22] - Property sales in mainland China recorded revenue of HKD 7.516 billion with a gross profit of HKD 2.381 billion for the year, down from HKD 8.463 billion and HKD 2.659 billion in 2017 respectively[64] - Hangzhou Yunhe Ting project sold all 408 units in phase one and 550 units in phase two, with 98% of the 725 units in phase three pre-sold as of December 31, 2018[65] - Nanjing Jinling Yasun Residence sold 97% of its 429 units as of December 31, 2018[66] Investment Properties - The investment property portfolio is being expanded, with new developments in Shenyang and Jinan to enhance rental income[23] - The company aims to maintain a stable rental income by optimizing tenant structure and enhancing property management[24] - The group's revenue from completed investment properties in China for the year was HKD 3.686 billion, an increase of 7% from HKD 3.444 billion in 2017[41] - The overall occupancy rate for the group's properties as of December 31, 2018, was 88% for offices and commercial properties, consistent with the previous year[42] - The average occupancy rate for the Shanghai Jing'an Kerry Centre's office space was 99% as of December 31, 2018, up from 98% in 2017[48] Sustainability and Corporate Responsibility - The group plans to establish sustainable development goals for 2030 and has initiated pilot projects in Hong Kong for climate change risk assessment[26] - The group has been included in the Hang Seng Sustainable Development Index, reflecting its commitment to sustainable business practices[26] - The company aims to achieve a carbon intensity reduction target ahead of the 2020 goal, with plans for new targets by 2030[150] - The company has been included in the Hang Seng Sustainable Development Index for four consecutive years, ranking in the top 30 out of 93 constituents in 2018[165] - The company received the Sustainable Development Leader Award from the World Green Organization for the second time, highlighting its commitment to sustainable development[167] Governance and Management - The board consists of three independent directors, with two possessing appropriate professional qualifications in accounting and financial management[191] - The company has implemented a board diversity policy, details of which are included in the annual report[194] - The board's composition ensures a balanced distribution of power and authority among its members[190] - The company has received annual independence confirmations from all independent directors as per listing rules[191] - The company emphasizes the importance of continuous professional development for its directors[196]