嘉里建设(00683) - 2019 - 中期财报

Financial Performance - The company's profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3.595 billion, a decrease of 10% compared to HKD 3.990 billion for the same period in 2018[4] - The earnings per share for the period was HKD 2.47, a decline of 10% from HKD 2.75 in the same period last year[7] - The group's revenue for the six months was HKD 11.225 billion, compared to HKD 10.560 billion in the previous year, reflecting an increase in sales[7] - The gross profit for the period was HKD 4.995 billion, up from HKD 4.262 billion in the previous year[7] - The total comprehensive income for the period was HKD 4.024 billion, compared to HKD 4.906 billion in the previous year[8] - The company recorded a significant increase in profit attributable to shareholders before the impact of fair value adjustments, rising 103% to HKD 3.143 billion from HKD 1.552 billion[5] - The net profit for the six months ended June 30, 2019, was HKD 3,594,589 thousand, contributing to a total comprehensive income of HKD 4,024,105 thousand[18] - The group reported a profit of HKD 60,854,000 recognized in other comprehensive income for the six months ended June 30, 2019[31] Investment Properties - The net increase in the fair value of investment properties, after tax, was HKD 452 million, down from HKD 2.438 billion in the previous year[5] - The company’s investment properties rose to HKD 78,579,786 from HKD 74,228,117, an increase of about 5.0%[10] - The total fair value of investment properties as of June 30, 2019, was HKD 78,579,786,000, an increase from HKD 73,951,879,000 on June 30, 2018[32] - The group’s investment properties saw a fair value increase of HKD 499,724,000 during the first half of 2019[32] - The increase in fair value of investment properties for the six months ended June 30, 2019, was HKD 406,981, compared to HKD 3,386,745 in 2018[40] Cash Flow and Liabilities - Cash and bank balances decreased to HKD 13,690,473 from HKD 13,860,952, a decline of about 1.2%[11] - Net cash generated from operating activities for the six months ended June 30, 2019, was HKD 2,045,768, down 69.5% from HKD 6,687,521 in the same period of 2018[15] - Total liabilities increased to HKD 36,021,981 from HKD 35,439,213, reflecting a rise of approximately 1.6%[13] - The company reported a decrease in current liabilities to HKD 24,766,413 from HKD 23,803,928, indicating a reduction of about 4.0%[12] - The total liabilities as of June 30, 2019, were HKD 82,175,415, compared to HKD 80,776,918 as of December 31, 2018, showing an increase of about 1.7%[41] - The total bank loans as of June 30, 2019, amounted to HKD 35,968,054,000, an increase of 16.67% from HKD 30,766,560,000 as of December 31, 2018[63] Equity and Shareholder Information - The total equity increased to HKD 113,867,884 from HKD 110,941,673, marking an increase of approximately 2.7%[14] - As of June 30, 2019, total equity attributable to shareholders was HKD 99,780,081 thousand, an increase from HKD 97,540,964 thousand at the beginning of the year[18] - The percentage of equity held by directors in the company is approximately 0.31% for most directors, with specific holdings detailed[136] - Kerry Group Limited holds 859,531,055 ordinary shares, representing 59.02% of the company's equity[141] - The total number of issued ordinary shares of the company as of June 30, 2019, is 1,456,241,228[142] Property Sales and Revenue - The group’s property sales revenue reached HKD 2,427,419,000 for the six months ended June 30, 2019, slightly down from HKD 2,427,741,000 in the previous year[37] - The mainland property division recorded a revenue of HKD 7.914 billion, a 5% decrease from HKD 8.326 billion in 2018, attributed to reduced sales and rental income[70] - The Hong Kong property division recorded revenue of HKD 3.311 billion for the six months ended June 30, 2019, compared to HKD 2.234 billion in 2018, representing a year-on-year increase of 48%[104] - The sales revenue from completed properties in Hong Kong was HKD 2.717 billion for the first six months of 2019, compared to HKD 1.668 billion in 2018, marking a year-on-year increase of 63%[111] Occupancy Rates - The occupancy rate for the office properties in the mainland portfolio was 87% as of June 30, 2019[72] - The average occupancy rate for the Shangri-La Hotel at Jing'an Kerry Centre was 75% during the review period, compared to 77% in 2018[78] - The occupancy rate for the retail and office spaces at Pudong Kerry City was 100% as of June 30, 2019[79] - The average occupancy rate for the Beijing Kerry Centre was 84% during the review period, consistent with the rate in 2018[80] - The occupancy rate for the office building in Hangzhou Kerry Center was 96%, up from 82% on December 31, 2018, while the retail space occupancy rate was 93%, down from 94%[81] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code as of June 30, 2019[143] - The board of directors has confirmed compliance with the standard code of conduct for securities transactions during the six months ending June 30, 2019[143] - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending June 30, 2019[146] Employee and Stock Options - As of June 30, 2019, the group employed approximately 8,200 staff, with competitive salary levels and discretionary bonuses[128] - A total of 19,413,500 stock options were granted under the 2011 stock option plan, which aims to incentivize executives and key employees[129] - The total number of stock options available for exercise is 19,413,500 after accounting for 828,000 exercised and 260,000 expired[136]