长实集团(01113) - 2018 - 年度财报

Financial Performance - Group revenue for 2018 was HKD 64,481 million, a decrease from HKD 63,780 million in 2017[5] - Shareholders' profit attributable to the company was HKD 40,117 million, up from HKD 30,125 million in 2017, representing a growth of 33%[5] - Total revenue for 2018 was HKD 64,481 million, an increase from HKD 63,780 million in 2017[20] - Shareholders' profit for 2018 was HKD 40,117 million, up 34% from HKD 30,125 million in 2017[21] - Earnings per share increased to HKD 10.85, a 34% rise from HKD 8.07 in 2017[21] - The total property sales revenue for the year was HKD 34.767 billion, a decrease of 18.9% from HKD 42.851 billion in 2017[38] - The property sales revenue from Hong Kong was HKD 11.497 billion, down 10.1% from HKD 12.792 billion in 2017[39] - The property sales revenue from mainland China was HKD 22.142 billion, a decline of 25.1% from HKD 29.555 billion in 2017[39] - The rental income for the year was HKD 76.35 billion, a slight decrease from HKD 78.3 billion in 2017[43] - The hotel and serviced suite business revenue increased to HKD 51.52 billion, up 10.5% from HKD 47.98 billion in 2017[47] Property Development and Investments - The company completed the sale of a commercial building in Central for HKD 40.2 billion in May 2018[12] - The acquisition of the 5 Broadgate property in London was completed for GBP 1 billion in June 2018[12] - The company launched the market sale of the 90 Repulse Bay Road property in Hong Kong, receiving a positive market response[12] - The company completed property developments in 2018, including a total floor area of 1,798,648 sq ft in Tsuen Wan and 1,633,185 sq ft in Shanghai, with various ownership stakes ranging from 60% to 100%[34] - The company plans to complete several properties in 2019, including a total floor area of 4,944,796 sq ft in Shanghai and 1,063,878 sq ft in Beijing, with ownership stakes of 60% to 100%[35] - The group plans to continue seeking suitable investment opportunities to enhance its property development portfolio[30] - The company is actively expanding its property development portfolio in Hong Kong, mainland China, Singapore, and the UK, focusing on both residential and commercial properties[33] Financial Stability and Cash Flow - The group maintains a strong cash flow with a debt ratio below 4% as of the year-end[31] - The company has a strong financial foundation and aims to maintain a favorable capital structure and investment credit rating while seeking diversified global financing sources[33] - The contribution from CK William Group was HKD 1,605 million, marking a significant addition to fixed income sources[28] - The company has issued approximately USD 1.29 billion in notes under its USD 5 billion Euro Medium Term Note Program as of December 31, 2018[36] - As of year-end, the total amount of bank and other borrowings was HKD 69.5 billion, a decrease of HKD 2.5 billion from the previous year[60] - The net debt to total equity ratio was approximately 3.6% as of December 31, 2018[60] Corporate Governance and Leadership - The company is focused on maintaining strong governance through its independent directors, ensuring compliance and risk management[72] - The board comprises experienced professionals with diverse backgrounds in finance, engineering, and international business, enhancing the company's strategic decision-making capabilities[72] - The company has a structured internal monitoring policy to ensure compliance with relevant laws and regulations[41] - The company’s board members have confirmed their independence according to the listing rules, ensuring governance standards are upheld[85] - The company has established a nomination committee as of January 1, 2019, chaired by the chairman of the board, with all board members as members[136] - The board is responsible for reviewing its structure, size, and composition to ensure it has the necessary skills and experience to meet the company's business needs[136] Risk Management - The company has implemented a corporate risk management system based on a "top-down" approach, ensuring rigorous oversight by the board and relevant committees[153] - The risk management policy provides guidance on identifying, assessing, and managing significant risks, ensuring sustainability in risk management activities[151] - The internal audit department is responsible for evaluating the effectiveness of the risk management and internal control systems[154] - The company integrates risk management activities into business and decision-making processes, including strategy formulation and daily operations[157] - The board confirmed the effectiveness of the risk management and internal control systems as of December 31, 2018[160] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of sustainable operations and integrates environmental, social, and governance (ESG) principles into its business practices[179] - The board of directors oversees the company's ESG direction, while a cross-departmental team is responsible for implementing ESG measures and monitoring operations[179] - The group achieved a total greenhouse gas emission of 115,616.27 tons CO2 equivalent in 2018, a significant increase from 60,465.23 tons in 2017, representing a 91% rise[186] - The group implemented various measures to control greenhouse gas emissions, including carbon audits and the use of low-emission equipment in managed properties[185] - The group has integrated green practices into daily operations to enhance energy efficiency and reduce waste[185] Employee and Management Practices - The group employed approximately 18,900 employees at the year-end settlement date, with annual compensation (excluding director remuneration) amounting to HKD 5.973 billion[64] - Employee compensation is determined based on individual performance, group profitability, industry standards, and market conditions, ensuring competitiveness[64] - The company emphasizes continuous professional development, with many managers holding multiple professional certifications[79] - The management team includes individuals with extensive backgrounds in project management, advertising, and market communication, contributing to a well-rounded leadership structure[76] Shareholder Communication and Engagement - The company has established various communication channels with shareholders, including printed and electronic communications, annual general meetings, and a dedicated website for updates[132] - The company ensures that shareholders received notifications at least 20 business days before the annual general meeting and 10 business days for other meetings[168] - The attendance rate of directors at the annual general meeting and special general meeting in 2018 was high, with key members present to address shareholder questions[167]