Financial Performance - The group reported an unaudited profit attributable to owners of HKD 470 million for the six months ended June 30, 2021, compared to a loss of HKD 279 million in 2020[9]. - Adjusted profit attributable to owners, after accounting for unrealized fair value changes from investment properties, was HKD 618 million, up from HKD 272 million in 2020[9]. - Basic earnings per share were HKD 0.156, a significant improvement from a loss of HKD 0.092 per share in the same period last year[9]. - The group recorded a profit of HKD 898 million in the property investment segment, slightly up by 2% from HKD 879 million in the first half of 2020[12]. - The group reported a net profit of HKD 600,179 million for the six months ended June 30, 2021, compared to a loss of HKD 219,471 million in the previous year[81]. - Basic earnings per share for the period was HKD 15.6, a recovery from a loss of HKD 9.2 per share in the same period of 2020[81]. - Total comprehensive income for the period amounted to HKD 701,723,000, a recovery from a loss of HKD 763,110,000 in the previous year[83]. - The company reported total revenue of HKD 1,901,562,000 for the six months ended June 30, 2021, compared to HKD 1,676,804,000 for the same period in 2020, representing an increase of approximately 13.4%[115]. - The company achieved a net profit of HKD 751,216,000 for the six months ended June 30, 2021, compared to HKD 600,179,000 for the same period in 2020, reflecting a growth of about 25.2%[121]. Property Development and Sales - The group achieved a sales rate of nearly 98% for the completed residential project "Ho Po" in Macau, with five units sold in the first half of 2021[13]. - The "Ho Shang" project, part of a major development, has sold 84% of its residential units as of June 30, 2021, with 62 units delivered to buyers in the first half of the year[13]. - The Hengqin comprehensive development project is expected to start generating rental income from retail, office, and parking spaces in 2022, providing a stable income source for the group[15]. - The group sold five residential units in the Macau project "Hau Ting" and 76 units in "Hau Shang" during the period, reflecting strong sales performance[67]. Hotel and Leisure Performance - The hotel and leisure segment incurred a loss of HKD 94 million in the first six months of 2021, impacted by ongoing pandemic challenges[42]. - The Hong Kong SkyCity Marriott Hotel recorded an average occupancy rate of only 30%, significantly lower than other city hotels due to the pandemic's impact on the exhibition and conference business[44]. - The average occupancy rate for the Macau Mandarin Oriental Hotel reached 43% during the pandemic, compensating for losses in inbound tourism through local staycation and dining promotions[45]. - The Luhuan Seaview Resort Hotel achieved an impressive average occupancy rate of 68% in the first half of 2021, leading other hotels in the area[46]. - The company is developing a flagship luxury hotel in Singapore with at least 142 rooms, expected to open in Q1 2023, delayed due to COVID-19[52]. Retail and Leasing Performance - The "Shengyue" shopping mall in Hong Kong has maintained a 100% occupancy rate as of June 30, 2021, despite the impact of the COVID-19 pandemic[28]. - The "Xibao City" shopping center has a rental area of approximately 158,000 square feet, with an occupancy rate of 87% as of June 30, 2021, following a major renovation[28]. - The "Shengyu" shopping center recorded an average occupancy rate of 39% as of June 30, 2021, due to the impact of the pandemic on tenant retention[29]. - The group holds 100% equity in shop 402 of the Shun Tak Center and 55% equity in a series of assets within the center, which has a total retail area of 213,786 square feet[30]. - The retail division, Retail Matters Company Limited, reported a 16% increase in sales year-on-year, despite a significant drop in inbound tourist numbers due to travel restrictions[64]. Financial Position and Investments - As of June 30, 2021, the group's bank balances and deposits reached HKD 6,749 million, an increase of HKD 1,303 million compared to December 31, 2020[71]. - The group's capital and debt ratio was 32.3% as of June 30, 2021, down from 35.6% on December 31, 2020, indicating a reduction in leverage[71]. - The group completed the acquisition of approximately 16.93% of Phoenix Satellite Television Holdings Limited for a cash consideration of approximately HKD 516 million, making it an associate company[65]. - The company has unfulfilled capital commitments of approximately HKD 422 million related to hotel property construction in Singapore as of June 30, 2021[74]. - The company recognized a gain of approximately HKD 321 million from the acquisition of identifiable assets exceeding the investment cost[132]. Market Outlook and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer experience[118]. - The company expects to maintain a positive outlook for the second half of 2021, with anticipated revenue growth driven by increased consumer demand and strategic initiatives[118]. - The group continues to monitor market conditions closely and is prepared to allocate resources pragmatically to deliver optimal value to shareholders[69]. - The overall financial performance indicates a strong recovery trajectory, positioning the company favorably for future growth opportunities[83]. Challenges and Adjustments - The transportation sector reported a loss of HKD 137 million in the first half of 2021, an improvement from a loss of HKD 275 million in the same period of 2020[38]. - The company has implemented cost-saving measures across its operations to navigate the challenging environment caused by the pandemic[69]. - The company has identified potential acquisition opportunities to strengthen its portfolio and market position[118]. - The company’s financial performance and position as of June 30, 2021, were not materially affected by the adoption of the new accounting standards[106].
信德集团(00242) - 2021 - 中期财报