Financial Performance - The group's revenue for 2024 is reported at HKD 8,816 million, a decrease of 26.5% compared to HKD 11,929 million in 2023[7] - The basic operating profit for 2024 is HKD 2,943 million, down 13.9% from HKD 3,419 million in 2023[7] - Profit attributable to shareholders for 2024 is HKD 2,508 million, a decline of 23.7% from HKD 3,287 million in 2023[7] - Basic earnings per share for 2024 is HKD 1.41, down from HKD 1.68 in 2023, representing a decrease of 16.1%[7] - The group has reported a significant drop in revenue from HKD 24,585 million in 2021 to HKD 8,816 million in 2024, indicating a downward trend over the years[7] Dividends - The interim dividend for 2024 remains at 15 HK cents per share, consistent with the previous year[7] - The final dividend for 2024 is set at 43 HK cents per share, unchanged from 2023[7] - The company is committed to enhancing shareholder value through consistent dividend payments despite the decline in profits[7] Assets and Equity - The group's total assets increased from HKD 155.3 billion in 2020 to HKD 170.1 billion in 2023, with a projected increase to HKD 174.3 billion in 2024[8] - The total equity attributable to shareholders increased from HKD 78.9 billion in 2020 to HKD 91.6 billion in 2023, with a forecast of HKD 94.9 billion in 2024[8] - The group’s non-current assets rose from HKD 107.1 billion in 2020 to HKD 112.4 billion in 2023, with a slight decrease projected to HKD 110.7 billion in 2024[8] Property Development and Sales - Property sales accounted for 40.6% of total revenue for the fiscal year ending June 30, 2024, while property leasing contributed 32.2%[11] - The company plans to launch new residential projects, including ONE CENTRAL PLACE in Central and 柏瓏Ⅲ in Yuen Long, with presale consent expected in the upcoming fiscal year[16] - The group expects to receive presale consent for two additional residential projects in the fiscal year 2024/2025, depending on market conditions[16] - As of June 30, 2024, the company has a land reserve of approximately 19.5 million square feet, with a balanced property type distribution: 47.5% commercial, 28.3% residential, 10.2% industrial, 8% parking, and 6% hotel[17] Rental Income and Occupancy - Total rental income for the fiscal year was HKD 3.55 billion, a year-on-year increase of 1.3%, while net rental income decreased by 2.5% to HKD 2.91 billion[22] - The overall occupancy rate of the investment property portfolio was 90.8%, a decrease of 0.4 percentage points from the previous year, with residential properties seeing an increase of 4.8 percentage points to 86.8%[22] Sustainability Initiatives - The company is focusing on sustainable development and risk management as part of its strategic initiatives[5] - Sino Land Company was recognized as one of the world's most sustainable companies for 2024 by Time magazine and Statista[31] - The company received an "AA" rating in the MSCI Environmental, Social, and Governance (ESG) Index and achieved a five-star rating in the 2023 Global Real Estate Sustainability Benchmark (GRESB) assessment[31] - The company is committed to climate change initiatives, achieving certification from the Science Based Targets initiative for its short-term greenhouse gas reduction goals[34] - The company has integrated sustainable development elements into its managed properties, with the Fullerton Hotel Singapore becoming the first historical hotel in Singapore to receive GSTC certification[34] Community Engagement - The company is actively involved in community support, providing over 2,000 festive gift packs to underprivileged families during the Mid-Autumn Festival[35] - The company continues to support various community projects, including transitional housing initiatives aimed at alleviating short-term housing needs for low-income families[35] - The community living room project aims to serve at least 500 grassroots families, providing approximately 80,000 service visits annually over a three-year period[76] Corporate Governance - The company emphasizes high standards of corporate governance and aims to provide the best returns for shareholders[79] - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors, exceeding the target of having at least one-third independent non-executive directors[86] - The board held four meetings during the fiscal year ending June 30, 2024, with all directors attending all meetings[90] - The company has established four board committees: the Remuneration Committee, Nomination Committee, Audit Committee, and Compliance Committee, each with defined responsibilities[90] Risk Management - The company has adopted an enterprise risk management system to assist in managing major risks faced by the business units[116] - The internal audit department operates independently and reports directly to the Audit Committee, conducting regular risk assessments[117] - The company conducts quarterly risk assessments based on established risk management policies and frameworks[119] - The audit committee is composed of three independent non-executive directors and meets at least four times a year to ensure effective oversight of financial reporting and risk management[123] Employee Engagement and Diversity - 51% of employees, including senior management, are female as of June 30, 2024[111] - The company aims to maintain gender balance in all management positions by 2030[111] - The company provides training and workshops on gender equality for employees[111] Shareholder Communication - The company emphasizes effective communication with shareholders through various channels, including financial reports and annual meetings[135] - The company encourages shareholders to provide email addresses for timely and effective communication[135]
TST PROPERTIES(00247) - 2024 - 年度财报