Financial Performance - In the first half of 2024, the company reported a revenue of HKD 3.76 billion, with a loss attributable to equity shareholders of HKD 1.1 billion[12]. - The company achieved a revenue of HKD 3.76 billion in the first half of 2024, a decrease of approximately 38% year-on-year[32]. - Total revenue for the six months ended June 30, 2024, was HKD 3.76 billion, down from HKD 6.06 billion in the same period of 2023[81]. - The company reported a mid-term loss of HKD 1.14 billion for the six months ended June 30, 2024, compared to a loss of HKD 36.02 million in the same period of 2023[81]. - The company reported a net loss before tax of HKD 945,851 for the six months ended June 30, 2024, compared to a profit of HKD 521,200 for the same period in 2023[134]. - Total comprehensive income for the period was HKD (1,706,478,000), down from HKD 1,886,387,000 in the previous year[83]. - The total comprehensive income attributable to shareholders for the six months ended June 30, 2024, was HKD 185,513, down from HKD 1,359,661 in 2023, indicating a significant decline[128]. Sales and Contract Performance - The company's contract sales reached RMB 6.18 billion, despite a 42% year-on-year decline in total sales for the top 100 real estate companies in China[14]. - In the first half of 2024, the group recorded a contract sales amount of approximately RMB 6.18 billion, a year-on-year decrease of 58%[39]. - The total sales area for the first half of 2024 was approximately 239,000 square meters, with an average selling price of RMB 28,483 per square meter[39]. - Residential products contributed 84% to the contract sales amount, while non-residential products accounted for 16%[39]. - The company transferred sales area of approximately 54,119 square meters, a decline of about 50% compared to the same period last year[33]. - The revenue from transferred sales was approximately RMB 920 million, equivalent to about HKD 1.02 billion, a decrease of around 65% year-on-year[33]. Property Development and Management - The company expanded its urban operation business, achieving a net increase in contracted area of 9.29 million square meters, including joint ventures[15]. - The company plans to expand its business operations and aims to achieve a managed scale of over 10 million square meters[24]. - The company is actively exploring integrated facility management services to enhance service quality and diversify its value-added service system[24]. - The company is focusing on transforming into urban asset management and comprehensive operations, emphasizing business and product innovation[27]. - The company’s property management revenue was about HKD 1.47 billion during the period[15]. - The company’s property management business achieved revenue of approximately HKD 1.47 billion, an increase of 3% year-on-year, with a gross profit margin of about 17%[55]. Financial Position and Debt Management - As of June 30, 2024, the company's total bank and other borrowings amounted to HKD 38.43 billion, down from HKD 39.04 billion at the end of 2023[67]. - The company's cash balance as of June 30, 2024, was HKD 11.06 billion, with approximately 89% denominated in RMB[67]. - The company's net asset value after excluding the interests of the controlling shareholder was HKD 40.09 billion, with a debt-to-asset ratio of 68.9%[67]. - The net debt ratio increased to 68.3% as of June 30, 2024, compared to 58.1% as of December 31, 2023[68]. - The company reported a financial cost of HKD 722.25 million for the six months ended June 30, 2024, compared to HKD 579.38 million in the same period of 2023[81]. - The company’s total liabilities increased to HKD 127,953,583,000 from HKD 126,933,147,000[87]. Operational Efficiency and Risk Management - The company aims to enhance operational efficiency and risk management while ensuring cash flow safety through improved financial management practices[18]. - The company will strictly control new investments and capital expenditures to maintain stable operations amid ongoing industry pressures[30]. - The management believes that the group will have sufficient working capital to meet its financial obligations for at least the next 12 months[112]. - The group has significant financial risks, including market risk (currency, interest rate, and price risks), credit risk, and liquidity risk, primarily due to its operations in China[114]. Investment Properties and Revenue - The property investment income for the first half of 2024 was approximately HKD 680 million, maintaining a stable operation with an overall occupancy rate of 89%[17]. - The property investment revenue for the first half of 2024 was approximately HKD 680 million, a decrease of 3% compared to the same period last year, with a gross profit margin of about 71%[54]. - As of June 30, 2024, the total value of investment properties was HKD 33,299,309,000, reflecting a decrease from HKD 33,450,507,000[151]. - The fair value loss on investment properties was HKD 27,265 for the six months ended June 30, 2024, compared to a gain of HKD 276,216 in 2023[129]. Employee and Operational Metrics - The company employed 20,417 staff as of June 30, 2024, down from 22,229 staff a year earlier[75]. - Total compensation for employees (excluding directors and executives) was approximately RMB 1.255 billion for the six months ended June 30, 2024, compared to RMB 1.277 billion in the same period of 2023[75]. - The company’s employee benefits expenses were HKD 441,525 for the six months ended June 30, 2024, compared to HKD 482,959 in 2023, reflecting a decrease of about 9%[134]. Shareholder Returns and Dividends - The company declared a final dividend of HKD 0.07 per share for the year ended December 31, 2023, totaling approximately HKD 622,916,000, down from HKD 1,067,855,000 for the previous year's final dividend of HKD 0.12 per share[148]. - No interim dividend was declared for the six months ended June 30, 2024, compared to HKD 0.02 per share for the same period in 2023, which amounted to HKD 177,976,000[149]. Stock Options and Equity - As of the reporting period, the company has a total of 7,630,000 unexercised stock options, representing approximately 0.09% of the company's issued shares[200]. - The total issued and fully paid ordinary shares remained unchanged at 8,898,793,115 shares as of June 30, 2024, with a share capital of HKD 22,071,756,000[185].
深圳控股(00604) - 2024 - 中期财报