Financial Performance - The company reported a total revenue of HKD 36,177,000 for the six months ended June 30, 2024, a decrease of 1.9% compared to HKD 36,862,000 in the same period of 2023[1]. - The total profit for the period was HKD 34,974,000, down from HKD 35,731,000 year-on-year, reflecting a decline of 2.1%[1]. - The net loss attributable to equity holders of the company was HKD 421,610,000, compared to a profit of HKD 88,679,000 in the prior year, marking a significant decline[1]. - The basic and diluted loss per share was HKD (21.1), compared to earnings of HKD 4.4 per share in the previous year[1]. - The total comprehensive loss for the period amounted to HKD 879,529,000, compared to HKD 175,860,000 in the same period last year, indicating a substantial increase in losses[2]. - The group recorded a pre-tax loss of HKD 418,967,000, compared to a pre-tax profit of HKD 90,419,000 in the previous year, highlighting a substantial decline in overall profitability[7]. - The group recorded a consolidated loss attributable to shareholders of HKD 422 million for the six months ended June 30, 2024, compared to a profit of HKD 89 million for the same period in 2023[20]. Expenses and Costs - Administrative expenses significantly decreased to HKD 8,784,000 from HKD 17,438,000, representing a reduction of 49.6%[1]. - The company incurred financing costs of HKD 14,790,000, which increased by 30.5% from HKD 11,337,000 in the previous year[1]. - Other operating expenses decreased to HKD 7 million from HKD 10 million in 2023, while financing costs increased to HKD 15 million from HKD 11 million due to higher interest rates[20]. - The group’s unallocated corporate expenses totaled HKD 10,696,000, which negatively affected the overall profitability[7]. Asset and Equity Changes - Non-current assets totaled HKD 10,109,428,000, down from HKD 10,919,823,000 at the end of 2023, reflecting a decrease of 7.4%[3]. - The company's total equity attributable to equity holders was HKD 9,747,266,000, a decrease from HKD 10,628,992,000, indicating a decline of 8.3%[3]. - As of June 30, 2024, total assets amounted to HKD 10,321,592,000, a decrease from HKD 11,158,084,000 as of December 31, 2023[8]. - The group’s equity in joint ventures as of June 30, 2024, was approximately HKD 9,516,412,000, down from HKD 10,325,161,000 as of December 31, 2023[14]. - The net asset value attributable to equity holders was HKD 9.7 billion, equivalent to HKD 4.9 per share, down from HKD 10.6 billion or HKD 5.3 per share at the end of 2023[27]. Revenue Segmentation - The property investment segment generated a profit of HKD 16,328,000, while the property development segment reported a loss of HKD 1,954,000, indicating a significant performance disparity between segments[7]. - Revenue from project management services was HKD 209,000 for the six months ended June 30, 2024, down from HKD 246,000 for the same period in 2023, representing a decline of approximately 15%[10]. - Total income from operating leases was HKD 3,606,000 for the six months ended June 30, 2024, slightly up from HKD 3,595,000 in 2023[10]. - The property investment segment's external revenue was HKD 34,681,000, while the financial investment segment generated HKD 1,285,000, showing varied revenue generation capabilities across segments[7]. - Revenue for the period was HKD 36 million, slightly down from HKD 37 million in 2023, with property investment contributing 96% of total revenue[20]. Joint Ventures and Investments - The group's share of profits from associates was HKD 10,021,000, a substantial increase from HKD 2,954,000 in the same period last year[1]. - The group recorded a loss of HKD 430,239,000 from its share of joint ventures for the six months ended June 30, 2024, compared to a profit of HKD 93,010,000 in 2023[14]. - The group's share of the joint venture's profit before accounting for losses was HKD 16 million, down from HKD 20 million in 2023[21]. - The group recorded a loss of HKD 430 million from its investment in LAAPL, compared to a profit of HKD 93 million in 2023, primarily due to adverse performance in the Chinese market[24]. - The group’s investment in OUE Healthcare Limited is approximately 70.36% as of June 30, 2024, focusing on high-growth healthcare assets in Asia[22]. Economic and Market Conditions - The overall economic environment remains challenging due to persistent core inflation, high interest rates, and geopolitical tensions[19]. - The recovery in Singapore's travel and tourism demand has exceeded expectations, contributing to growth in the tourism-related sectors operated by the group[19]. - The group anticipates stable global growth, with Singapore's GDP growth forecast narrowed to between 2.0% and 3.0% for 2024[28]. Future Outlook and Developments - The group successfully secured a lease for a new hotel at Changi Airport, expected to be completed and operational by 2028, designed to be Singapore's first zero-energy hotel[22]. - OUE REIT's commitment occupancy rate for Singapore office properties increased to 95.2%, with a strong rental renewal increase of 11.7% in Q2 2024[22]. - The retail segment at the Mandarin Gallery achieved a high commitment occupancy rate of 98.3%, with a rental renewal increase of 28.4% in Q2 2024[22]. - The company announced no interim dividend for the six months ended June 30, 2024[30].
香港华人有限公司(00655) - 2024 - 中期业绩