CK ASSET(HK:01113)2020-04-07 09:38Financial Performance - The group's revenue for 2019 was HKD 82.382 billion, representing a significant increase compared to previous years[5]. - Shareholders' profit attributable to the group was HKD 29.134 billion for 2019, reflecting a decrease from HKD 40.117 billion in 2018[5]. - The group reported a total comprehensive income of HKD 96.319 billion for the year, compared to HKD 64.481 billion in 2018[5]. - The group reported a basic earnings per share of HKD 7.78, an increase of 19% compared to HKD 6.53 in 2018[14]. - The group achieved a total revenue of HKD 28,729 million for the year, up from HKD 24,134 million in 2018, reflecting a growth of 19%[14]. - The total property sales revenue for the year was HKD 64.108 billion, a significant increase from HKD 34.767 billion in 2018, with major contributions from residential units in Hong Kong and various projects in mainland China[38]. - The company reported a significant increase in revenue, achieving a total of HKD 29 billion for the year, representing a year-on-year growth of 10%[64]. - The company reported a total revenue of 35 billion in 2019, reflecting a significant growth compared to previous years[73]. Property Sales and Development - The total property sales for the group amounted to approximately HKD 28.2 billion, with over 4,500 units sold across Hong Kong, mainland China, Singapore, and London[7]. - The group's property sales saw significant growth due to new projects like My Central and Victoria Peak, despite a slower market in mainland China[19]. - The company completed several property developments in 2019, including projects in mainland China, Singapore, and the UK, totaling over 7 million square feet[33]. - The company signed contracts for unrecognized property sales amounting to HKD 13.909 billion as of December 31, 2019, with HKD 1.809 billion in Hong Kong and HKD 9.833 billion in mainland China[41]. - The company has a land reserve of approximately 92 million square feet, with 4 million square feet in Hong Kong, 84 million square feet in mainland China, and 4 million square feet overseas[41]. Investments and Acquisitions - The acquisition of Greene King, a leading brewery and pub operator in the UK, was completed in October 2019, contributing positively to the group's profits[23]. - The acquisition of Greene King contributed HKD 3.611 billion in revenue and HKD 555 million in profit for the year[50]. - CK William Group contributed HKD 1.548 billion to the group's profit, with operations in Australia and other countries providing electricity solutions[24]. - Reliance Home Comfort contributed HKD 1.086 billion, while ista contributed HKD 1.26 billion from energy management services in Europe[24]. Market Presence and Expansion - The group has continued to expand its market presence, with successful launches in Guangzhou and Dongguan, receiving positive market responses[8]. - The group plans to continue its expansion and development of new properties in key markets, focusing on enhancing its portfolio[8]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share within the next three years[66]. - Future economic growth in mainland China is expected to rebound post-pandemic, with government policies supporting stability[25]. Corporate Governance and Management - The company has a strong management team with members holding various degrees and professional qualifications, including chartered accountants and registered surveyors, ensuring a high level of expertise in financial management and project oversight[69]. - The company emphasizes continuous professional development for its staff, ensuring that they remain competitive and knowledgeable in their respective fields[69]. - The company has established a clear policy and procedures for the nomination of directors, ensuring transparency and accountability[137]. - The company has a commitment to maintaining high standards in financial reporting and governance, as evidenced by the composition of its audit and nomination committees[68]. Environmental, Social, and Governance (ESG) Initiatives - The group emphasizes the importance of sustainable operations, integrating environmental, social, and governance (ESG) principles into its business practices[174]. - The investment committee considers ESG performance when making new investment decisions, including compliance with environmental regulations and management capabilities[175]. - The group has implemented various measures to control greenhouse gas emissions, including carbon audits and the use of low-emission equipment in its properties[180]. - The company is committed to reducing waste through source reduction and recycling initiatives, including good inventory planning and construction site management[185]. Financial Stability and Debt Management - The group's net debt to total capital ratio was 5.2%, supported by a stable financial foundation and diversified income sources[26]. - The total bank and other borrowings of the group amounted to HKD 80.1 billion, an increase of HKD 10.6 billion compared to December 31, 2018[56]. - The net debt to total net capital ratio was approximately 5.2% as of December 31, 2019, calculated by deducting bank balances and time deposits of HKD 60.3 billion from bank and other borrowings[56]. Awards and Recognition - The group has been recognized for its corporate strategies, receiving awards for outstanding business strategies and best local chain hotel[9]. - The group received multiple awards, including the "Outstanding Listed Company Award 2019" from various financial publications, highlighting its market position[11]. - The company received multiple awards in 2019 for its environmental protection efforts, including the Hong Kong Environmental Excellence Award[191]. Employee and Community Engagement - The group employed approximately 56,000 staff, with annual salaries (excluding directors' remuneration) amounting to HKD 6.525 billion[60]. - The group donated approximately HKD 6 million to various charitable organizations during the year[122]. - The company encourages employees to reduce paper waste by promoting double-sided printing and electronic communication[185].