鹰君(00041) - 2021 - 中期财报

Financial Performance - For the six months ended June 30, 2021, the core business revenue was HKD 2,563.8 million, representing a 53.9% increase from HKD 1,666.3 million in the same period of 2020[11]. - The core profit attributable to equity holders after tax was HKD 534.9 million, a significant increase of 502.4% compared to HKD 88.8 million in the previous year[11]. - The total revenue calculated under statutory accounting standards was HKD 3,569.3 million, a 31.0% increase from HKD 2,724.4 million in the prior year[11]. - The company reported an accounting loss attributable to equity holders of HKD 784.0 million, compared to a loss of HKD 6,512.8 million in the same period last year, indicating an improvement[11]. - Core profit after tax for the first half of 2021 reached HKD 535.0 million, a 496.4% increase compared to HKD 89.7 million in the same period of 2020[14]. - The total comprehensive loss for the period was HKD 955,156,000, significantly lower than HKD 9,820,434,000 in the same period last year, indicating a substantial improvement[134]. - The company reported a loss attributable to shareholders of HKD (783,974,000) for the six months ended June 30, 2021, compared to a loss of HKD (6,512,770,000) for the same period in 2020, indicating a significant improvement[184]. Revenue Sources - The revenue from property sales for the first half of 2021 was HKD 957.6 million, which was not applicable in the same period of 2020[14]. - The hotel business generated external revenue of HKD 1,002,590,000, while property investment and development contributed HKD 75,703,000 and HKD 957,622,000 respectively[169]. - Rental income from investment properties decreased to HKD 1,303,514, down 6.1% from HKD 1,388,705 in the previous year[154]. - The group’s total income from the US fund was HKD 34.0 million, down 30.9% from HKD 49.2 million in the same period of 2020[19]. - The company achieved a total of HKD 1,546,574,000 in revenue from Hong Kong, which was the largest contributor by region[162]. Assets and Liabilities - The total assets of the group as of June 30, 2021, amounted to HKD 101,897 million, with total liabilities of HKD 36,902 million, resulting in a net asset value of HKD 64,995 million[16]. - The company's consolidated net debt was HKD 29,454 million, an increase of HKD 7,625 million from December 31, 2020[66]. - The total liabilities increased to HKD 68,008,740,000, highlighting a growing debt burden[137]. - The company's equity attributable to shareholders increased from HKD 58,203,744 thousand as of December 31, 2020, to HKD 57,159,723 thousand as of June 30, 2021, showing a decrease of approximately 1.8%[136]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.33 per share, consistent with the previous year's interim dividend[7]. - The total dividends paid for the financial year ended December 31, 2020, amounted to HKD 720,792,000, with an interim dividend of HKD 241,243,000 declared for the six months ended June 30, 2021[181]. Operational Challenges - The hotel operations continue to be severely impacted by the COVID-19 pandemic, with no significant recovery expected for the remainder of 2021[73]. - The group temporarily closed some hotels due to the ongoing impact of the COVID-19 pandemic, affecting operational performance[143]. - The management anticipates rental income and distributions per fund unit for the Crown Industrial Trust to remain under pressure in 2021[73]. Strategic Developments - The company is developing two premium residential projects in Hong Kong and several projects in the United States, Japan, and Italy[2]. - The group successfully acquired a luxury residential project in Ho Man Tin, with a total floor area of approximately 742,000 square feet, enhancing its asset base[22]. - The company plans to focus on market expansion and new product development to drive future growth[137]. - The company is exploring strategic acquisitions to enhance its market position and operational capabilities[137]. Governance and Leadership - The company has appointed independent non-executive directors with extensive experience in various sectors, including finance and law, enhancing governance and oversight[81][82][83][84][85][87]. - The company has established a strong governance framework with various committees, including audit and remuneration, to ensure accountability and transparency[81][82][83][84][85][87]. - The company has a commitment to sustainability, which is seen as essential for improving the quality of life in local communities and globally[94]. Market Conditions - The geopolitical tensions between the US and China may further impact the economy and the company's operations in Hong Kong[76]. - The overall performance of overseas hotels was mixed, heavily influenced by varying COVID-19 restrictions across different countries[26]. - The company is in a relatively favorable position due to its strong balance sheet, allowing it to navigate the current economic challenges[76].