新鸿基公司(00086) - 2021 - 中期财报

Financial Performance - The company's attributable profit increased by 287.4% year-on-year to HKD 2,693.0 million[6]. - Basic earnings per share increased by 290.3% to HKD 136.2 cents[6]. - Pre-tax profit for the first half of 2021 was HKD 3,215.7 million, a 238.3% increase compared to HKD 950.5 million in the same period of 2020[10]. - The revenue for the first half of 2021 increased by 7% to HKD 1,741.4 million compared to HKD 1,623.7 million in the same period of 2020[16]. - Total revenue for the six months ended June 30, 2021, was HKD 2,170.2 million, an increase from HKD 2,049.6 million for the same period in 2020, representing a growth of 5.9%[80]. - The net profit for the period was HKD 2,951.9 million, significantly higher than HKD 862.7 million for the same period in 2020, marking an increase of 242.5%[80]. - The total comprehensive income for the period was HKD 3,253.2 million, compared to HKD 688.1 million in the same period last year, representing an increase of 373.5%[80]. Asset and Liability Management - Total assets rose by 11% to approximately HKD 47,654.0 million as of June 30, 2021[6]. - The book value per share increased by 23.1% to HKD 12.8 as of June 30, 2021[11]. - The company's total liabilities were HKD 10,117.3 million, up from HKD 9,247.5 million, indicating an increase of 9.4%[81]. - The total equity increased to HKD 28,474.7 million from HKD 25,952.3 million, reflecting a growth of 9.7%[81]. - The net debt to equity ratio decreased to 39.2% as of June 30, 2021, from 41.4% at the end of 2020[55]. - The total borrowings amounted to HKD 15,709.7 million, a 5% decrease from HKD 16,614.1 million as of December 31, 2020[56]. Dividend and Shareholder Returns - The interim dividend remained unchanged at HKD 12.0 cents per share[8]. - The company declared an interim dividend of HKD 0.12 per share for the six months ended June 30, 2021, consistent with the previous year[71]. - A total of 550,000 shares were repurchased at a maximum price of HKD 4.25 and a minimum price of HKD 4.15, with a total cost of HKD 2,317,150[71]. Operational Efficiency - Operating costs increased by 43.3% to HKD 896.5 million due to higher loan volumes and increased employee expenses[10]. - The cost-to-income ratio improved to 32.0% from 30.6% year-on-year, reflecting better operational efficiency[16]. - The company reduced its borrowing costs by 33% due to lower interest rates, positively impacting profitability[14]. Loan and Financing Performance - The net loan balance increased by 17% year-on-year to HKD 11,082.8 million, while the total loan balance rose by 16% to HKD 11,765.6 million[17]. - The overdue loan ratio decreased to 7.5% as of June 30, 2021, down from 8.1% at the end of 2020[16]. - The company achieved a pre-tax contribution of HKD 871.9 million from its financing business, a 68% increase compared to the same period in 2020[16]. - The financing business generated a pre-tax profit of HKD 919.4 million, up 51.3% from HKD 607.8 million in the previous year[10]. Investment Management - Investment management pre-tax profit surged by 430.0% to HKD 2,312.2 million, driven by strong performance across all asset classes[10]. - Total revenue for the investment management segment reached HKD 2,728.9 million, a 313.4% increase from HKD 660.1 million year-on-year[33]. - The average asset return for the investment management segment was 14.2% for the first half of 2021[32]. Risk Management - The group emphasizes the importance of risk management alongside business growth, focusing on financial risks such as market risk, credit risk, and liquidity risk[142]. - Credit risk is managed through established procedures regulated by the executive committee, utilizing external and internal data to forecast economic variables and assess credit loss[143]. - The group maintains a prudent liquidity ratio to ensure effective cash flow management, even in adverse market conditions[144]. Economic Outlook - The company remains cautiously optimistic about achieving strong full-year performance despite ongoing economic challenges[25]. - The company is actively seeking new investment opportunities while cautiously managing existing portfolios amid ongoing pandemic impacts[45]. - The company plans to continue expanding its market presence in Mainland China, leveraging the growth in revenue from that region[90].