嘉里建设(00683) - 2021 - 中期财报

Financial Performance - The group recorded consolidated revenue of HKD 6.37 billion, an increase of 63%[9] - The underlying profit, excluding fair value changes of investment properties, was HKD 2.36 billion, representing a 113% increase[9] - Profit attributable to shareholders was HKD 3.77 billion, up 251%[9] - Earnings per share increased to HKD 2.59, a 250% rise compared to the same period last year[9] - The fair value of the investment property portfolio increased by HKD 1.41 billion[9] - The company reported a total revenue of HKD 6,374,122, with a gross profit of HKD 3,659,488 for the six months ended June 30, 2021, compared to HKD 3,917,548 and HKD 2,395,384 in the same period of 2020[47] - Operating profit before financing costs was HKD 4,432,260, significantly up from HKD 1,712,152 in the previous year[47] - The company achieved a net profit of HKD 4,483,893 for the period, compared to HKD 1,163,252 in the prior year[48] Sales and Revenue - Contracted sales amounted to HKD 8.19 billion, achieving 61% of the annual sales target[9] - Property leasing income was HKD 2.66 billion, a 14% increase year-on-year[9] - The mainland property division recorded revenue of HKD 3.71 billion in the first half of 2021, a 56% increase from HKD 2.38 billion in 2020, driven by a 145% increase in sales from completed properties[25] - Contract sales in the mainland property division reached HKD 6.17 billion, achieving 78% of the annual target of HKD 7.9 billion[27] - The Hong Kong property division recorded revenue of HKD 2.66 billion for the six months ended June 30, 2021, up from HKD 1.54 billion in 2020[14] Investment Properties - The fair value increase of investment properties amounted to HKD 1,210,132, which is a significant factor in the overall financial performance[70] - The company’s investment properties had a net book value of HKD 85,490,420,000 as of June 30, 2021, compared to HKD 80,209,689,000 on January 1, 2020, reflecting a growth of approximately 6.4%[7] - The valuation of the investment property portfolio increased by HKD 1.41 billion as of June 30, 2021, compared to a decrease of HKD 0.32 billion in the same period of 2020[13] Dividends - The board declared an interim dividend of HKD 0.4 per share and a special dividend of HKD 2.3 per share following the partial offer and sale of Kerry Logistics shares[9][10] - The company expects to receive no less than HKD 11 billion from the partial offer, placement agreement, and special dividend declared by Kerry Logistics[11] Occupancy and Leasing - The occupancy rate for residential properties reached 94% as of June 30, 2021, compared to 83% at the end of 2020[18] - MegaBox's occupancy rate was 94% as of June 30, 2021, down from 99.9% at the end of 2020[21] - The average occupancy rate for the Jing An Shangri-La Hotel was 68%, significantly up from 30% in the previous year[33] - The occupancy rates for major properties include 97% for Jing An Kerry Centre and 100% for Pudong Kerry City[30] Development Projects - The company plans to launch the LA MARINA project in the third quarter and the second phase of the Tsing Shan project in the fourth quarter of 2021[14] - The LA MARINA project will provide 600 residential units with a total floor area of approximately 493,000 square feet, with pre-sales expected to start in Q3 2021[22] - The company plans to continue selling projects in Fuzhou, Zhengzhou, Hangzhou, and Shenyang in the second half of 2021, with a new project launch in Qinhuangdao[43] Financial Position - As of June 30, 2021, the company had total borrowings of HKD 429.5 billion, with 18% due within one year[44] - The debt-to-equity ratio was reported at 23.9% as of June 30, 2021, down from 25.1% at the end of 2020[44] - The total liabilities decreased from HKD 50,495,826 thousand to HKD 47,993,100 thousand, a decline of 4.9%[51] - The total equity increased from HKD 124,656,340 thousand to HKD 128,456,759 thousand, representing a growth of 3%[53] Share Options and Equity - The 2020 Share Option Plan was adopted on May 20, 2020, replacing the 2011 Share Option Plan, which has been terminated[96] - The total number of unexercised share options as of June 30, 2021, is 18,953,500, with 850,000 options having lapsed during the period[99] - Directors' equity in the company includes a total of 6,497,176 shares held by Guo Konghua, representing 0.45% of total equity[102] Corporate Governance - The company has complied with the Corporate Governance Code as per the listing rules during the six months ending June 30, 2021[112] - The board confirmed adherence to the standard code of conduct for securities transactions during the six months ending June 30, 2021[112]