Financial Performance - For the fiscal year ending June 30, 2023, the group's basic profit attributable to shareholders was HKD 3.4195 billion, a slight decrease from HKD 3.598 billion in the previous fiscal year, resulting in a basic earnings per share of HKD 1.68 compared to HKD 1.82[1] - The group's profit, including a non-cash investment property revaluation loss of HKD 902 million, was HKD 3.2871 billion, up from HKD 3.1592 billion in the previous year, with earnings per share of HKD 1.61 compared to HKD 1.60[1] - The group's revenue for the fiscal year was HKD 11,928,929,454, a decrease from HKD 15,597,640,466 in the previous year, reflecting a decline of approximately 23%[32] - The net profit for the year was HKD 5,910,404,500, slightly down from HKD 5,956,886,085, indicating a decrease of about 0.77%[33] - Total comprehensive income for the year was HKD 5,434,345,209, a decrease from HKD 5,503,148,836 in the previous year[34] Dividends - The board proposed a final dividend of HKD 0.43 per share, bringing the total dividend for the fiscal year to HKD 0.58 per share, including an interim dividend of HKD 0.15[2] Property Sales and Development - The property sales revenue for the fiscal year was HKD 11.973 billion, an increase from HKD 10.841 billion in the previous year, primarily from completed residential units and parking spaces[4] - The company sold 23.6% of the residential project in Tseung Kwan O, and other projects had sales percentages ranging from 22.3% to 88%[5] - The company has multiple new projects planned for sale, including ONE CENTRAL PLACE in Central and a residential project in Yau Tong, pending pre-sale consent[5] - As of June 30, 2023, the company held land reserves of approximately 19.5 million square feet, with a balanced property type distribution: 46.8% commercial, 27.9% residential, 11.3% industrial, 8% parking, and 6% hotel[6] - The company received development rights for a residential project in Hong Kong, with a total floor area of 185,278 square feet[7] Rental Income and Occupancy - Total rental income for the fiscal year was HKD 3.548 billion, a decrease of 1.1% year-on-year[13] - Net rental income for the fiscal year was HKD 2.985 billion, down 3.7% from the previous year[13] - Overall occupancy rate for investment properties was 91.2%, an increase of 0.4 percentage points year-on-year[13] - Retail properties saw the largest increase in occupancy rate, rising 2.1 percentage points to 95%[14] Hotel Operations - The hotel operating revenue for the fiscal year was HKD 1.37555 billion, up from HKD 582.7 million last year, with an operating profit of HKD 451.7 million compared to HKD 92.9 million in the previous year[16] - In July 2023, inbound travelers reached 3.6 million, the highest level since the COVID-19 outbreak, benefiting the hotel industry as international travel resumes[16] - The company plans to reopen the Hong Kong Ocean Park Hotel in Q4 2023 with new business and operational strategies after renovations[16] - The company has implemented cost control measures while enhancing hotel service quality and efficiency in response to inflation[16] Financial Position - As of June 30, 2023, the company had cash and bank deposits of HKD 44.825 billion, with net cash of HKD 42.0534 billion after deducting total borrowings of HKD 2.77111 billion[19] - The company maintains a strong financial position with a total asset value of HKD 181.0497 billion and total equity of HKD 91.5902 billion as of June 30, 2023[19] - The company’s net cash position allows it to benefit from a high-interest environment, as all borrowings are based on floating interest rates[19] Sustainability and Corporate Governance - 信和置业在2022年全球房地产可持续标准（GRESB）中获得五星级别，成为全球业界领导者[24] - 信和置业被评为亚太区域ESG最高评级企业，并在MSCI环境、社会及治理指数中评级上调至AA级[24] - 信和置业与香港创新基金及其他合作伙伴推出香港首个珊瑚保育计划，旨在修复香港南部海域的珊瑚礁[25] - 信和置业的企业创新计划吸引超过3000个来自70个国家的解决方案，推动房地产科技发展[26] - 信和置业在香港可持续发展奖中获得大型机构组别的香港可持续发展大奖，肯定其ESG努力[24] Market Outlook - The company is optimistic about the medium to long-term prospects of the mainland real estate market, supported by recent government policies to stimulate growth[18] - The Hong Kong residential market outlook remains cautiously optimistic, supported by an increase in population from 7.3 million in mid-2022 to 7.5 million in mid-2023[29] - The group anticipates a gradual recovery in the business environment, aided by clearer interest rate prospects, which will support the Hong Kong residential market[30] Commitments and Guarantees - The group has provided financial guarantees for bank loans to joint ventures and associates, with utilized guarantees amounting to HKD 7,073,251,812 and unutilized guarantees at HKD 3,019,040,843 as of June 30, 2023, totaling HKD 10,092,292,655[62] - The group's capital commitments as of June 30, 2023, include contracted amounts of HKD 41,797,197 and authorized but not contracted amounts of HKD 186,564, totaling HKD 41,983,761[63] Corporate Governance - The company has adopted its own corporate governance code based on the principles and code provisions of the Corporate Governance Code, complying with all code provisions during the fiscal year[66] - The board of directors has determined that the long tenure of independent non-executive directors does not affect their ability to provide independent and objective opinions[67] - The audited consolidated financial statements for the year ended June 30, 2023, have been reviewed by the company's audit committee[68] - The annual report for 2023 will be sent to all shareholders around September 29, 2023, in compliance with the Listing Rules[68]
TST PROPERTIES(00247) - 2023 - 年度业绩