Financial Performance - In the first half of 2021, the Group recorded pre-sales of properties and car park units amounting to approximately HK$1,360.3 million, a significant increase from HK$33.6 million in the same period of 2020[13]. - The Group recorded total pre-sales of properties and car park units of approximately HK$1,360.3 million for the six months ended 30 June 2021, representing an increase of approximately 3,948.5% compared to the same period in 2020[30]. - For the six months ended June 30, 2021, the Group's total revenue was approximately HK$293.8 million, an increase of 15.7% compared to HK$254.0 million for the same period in 2020[69]. - The Group recorded a profit attributable to equity shareholders of approximately HK$96.6 million, compared to a loss of approximately HK$211.4 million in the corresponding period of 2020[69]. - Basic earnings per share for the six months ended June 30, 2021, was HK$0.06, compared to a loss of HK$0.14 in the same period of 2020[69]. - The Group recorded a gain of approximately HK$67.7 million in fair value of its investment properties for the six months ended 30 June 2021, compared to a loss of approximately HK$114.5 million for the same period in 2020[39]. - The company reported a profit for the period of HKD 96,647,000, which contributed to a total comprehensive income of HKD 228,359,000[155]. - Total comprehensive income for the period was HK$220,705,000, a turnaround from a loss of HK$436,922,000 in 2020[145]. Property Sales and Development - The pre-sold saleable gross floor area (GFA) reached 21,610 sq.m., compared to 2,176 sq.m. in the corresponding period of 2020[13]. - The average selling price (ASP) of properties for the six months ended 30 June 2021 was approximately HK$62,813.5 per sq.m., compared to approximately HK$14,154.4 per sq.m. for the same period in 2020[31]. - The Shenzhen Upper Residence project has a total value of RMB2.5 billion, with approximately RMB1.6 billion sold by the end of June 2021[17]. - The Yuen Long Shap Pat Heung Road Project in Hong Kong has a GFA of approximately 245,000 sq.ft. and has officially initiated project development[18]. - The Shenzhen Jishengchang urban renewal project is being developed into a "residential + public housing + school" district, with a feasibility study currently being prepared[17]. - The urban renewal project in Dalang, Longhua District, Shenzhen, is expected to be approved for commencement in 2022[17]. - The Group's land bank of 22 projects was approximately 511,413 sq.m. as of June 30, 2021, with a focus on the Guangdong-Hong Kong-Macau Greater Bay Area and first-tier cities in China[13]. - The Group's land bank strategy will primarily focus on first-tier cities such as Shenzhen, Shanghai, and Hong Kong[13]. Rental Income and Investment Properties - Rental income from investment properties was approximately HK$145.4 million, representing a 42.8% increase from HK$101.8 million in the same period of 2020[13]. - The total fair value of the Group's investment properties was approximately HK$7,679.1 million as of 30 June 2021, representing approximately 27.5% of the Group's total asset value[39]. - The average monthly rental income for the Group's investment properties under operation was approximately HK$92.0 per sq.m. for the six months ended 30 June 2021, compared to approximately HK$81.1 per sq.m. for the same period in 2020[44]. - The occupancy rate and rental rate of the Group's existing investment properties under operation increased during the six months ended 30 June 2021, contributing to the rise in average monthly rental income[44]. - The Group aims to maintain steady growth in rental income by expanding its portfolio of self-owned premium properties[25]. Strategic Initiatives and Partnerships - The Group has signed a strategic cooperation agreement with the government of Nansha District, Guangzhou, to promote the "Guangdong-Hong Kong-Macao International Innovative City" project[15]. - The Group has entered into a strategic cooperation agreement with Guangdong Productivity Promotion Center to enhance industrial resource integration for project development[15]. - The Group is actively seeking investment opportunities in premium projects to ensure continuous investment and development in the Hong Kong market[18]. - The Group continues to be optimistic about overseas real estate markets such as Hong Kong and Sydney, actively seeking quality projects[25]. Corporate Governance and Management - The company has complied with the Corporate Governance Code during the six months ended June 30, 2021, with the exception of the roles of chairman and CEO being held by the same individual[94]. - The Board believes that having the same person serve as both chairman and CEO ensures consistent leadership and effective long-term strategy planning[94]. - More than half of the Board members are non-executive or independent non-executive Directors, ensuring a balance of power[94]. - The company is committed to maintaining corporate governance to protect and maximize shareholder interests[94]. Financial Position and Liabilities - Total borrowings as at 30 June 2021 were approximately HK$10,251.3 million, with HK$6,549.7 million repayable within one year[82]. - The net gearing ratio improved to approximately 54.4% as at 30 June 2021, down from 59.8% as at 31 December 2020, primarily due to the repayment of bank loans[83]. - The Group's cash and bank deposits amounted to approximately HK$4,672.2 million as at 30 June 2021, representing a decrease of approximately 0.6% from HK$4,699.8 million as at 31 December 2020[82]. - The annualised average cost of borrowings increased to approximately 6.0% for the six months ended 30 June 2021, compared to approximately 5.8% for the same period in 2020[83]. Employee and Operational Metrics - As of June 30, 2021, the Group employed approximately 881 employees, a slight increase from approximately 879 employees as of December 31, 2020[93]. - Total staff costs for the six months ended June 30, 2021, were approximately HK$112.1 million, compared to approximately HK$92.7 million for the same period in 2020[93]. - Selling and marketing expenses increased by approximately 76.5% to approximately HK$33.0 million for the six months ended 30 June 2021, accounting for approximately 2.4% of total pre-sales[80]. Shareholder Information - The Company declared an interim dividend of HK3 cents per share for the six months ended June 30, 2021, compared to nil for the same period in 2020[100]. - The interim dividend is expected to be payable on October 25, 2021[100]. - The register of members will be closed from October 5, 2021, to October 8, 2021, for determining the entitlement to the interim dividend[101].
莱蒙国际(03688) - 2021 - 中期财报