Financial Performance - The company reported a loss attributable to shareholders of HKD 2,167,800,000, an increase from HKD 1,665,400,000 in the previous year[3]. - Adjusted EBITDA grew to HKD 1,191,600,000, representing a year-on-year increase of 44.4%[2]. - Total comprehensive loss for the year was HKD 4,642,640,000, compared to HKD 4,747,447,000 in the previous year[4]. - The company reported a net loss attributable to shareholders of HKD 2,167,836,000 for 2024, compared to a loss of HKD 1,665,400,000 in 2023[22]. - Total revenue for the year 2024 reached HKD 6,341,234,000, an increase from HKD 5,169,027,000 in 2023, representing a growth of approximately 22.6%[13]. - Total revenue for 2024 reached HKD 6,096,141,000, a 22.1% increase from HKD 4,994,591,000 in 2023[15]. - Total comprehensive income for 2024 is HKD 95,923,000, down from HKD 105,132,000 in 2023, representing a decrease of 8.0%[10]. - The adjusted net loss attributable to the company's owners for the year ended July 31, 2024, was approximately HKD 521.6 million, a slight improvement from HKD 553.4 million in 2023[48]. Revenue Breakdown - Property sales surged to HKD 1,529,500,000, a year-on-year increase of 61.6%, primarily driven by flagship properties in China[2]. - Hotel business revenue for 2024 is HKD 1,157,000, an increase from HKD 662,000 in 2023, reflecting a growth of 74.8%[10]. - Restaurant and catering sales for 2024 is HKD 2,850,000, compared to HKD 2,975,000 in 2023, indicating a decrease of 4.2%[10]. - Media and entertainment revenue for 2024 is HKD 14,697,000, down from HKD 19,286,000 in 2023, showing a decline of 23.8%[10]. - Theme park operations revenue for 2024 is reported as HKD 4,209,000, a decrease from HKD 5,543,000 in 2023, which is a decline of 24.0%[10]. - The company experienced a significant increase in revenue from other sources, totaling HKD 4,983,698,000, up from HKD 3,955,446,000 in the previous year[15]. Asset and Liability Management - Total capital resources amounted to approximately HKD 10,171,300,000, including cash and bank balances of about HKD 4,234,300,000[2]. - Total non-current assets decreased to HKD 55,400,066 from HKD 60,496,827, a decline of approximately 8.5% year-over-year[5]. - Current assets totaled HKD 14,941,501, down from HKD 16,525,194, representing a decrease of about 9.6%[5]. - Current liabilities decreased significantly to HKD 6,588,781 from HKD 11,162,495, a reduction of approximately 41.0%[5]. - Total equity attributable to owners decreased to HKD 15,961,547 from HKD 18,290,718, a decline of about 12.7%[6]. - Non-current liabilities increased to HKD 29,614,005 from HKD 27,039,744, an increase of approximately 9.5%[6]. - Cash and cash equivalents stood at HKD 2,827,083, down from HKD 3,709,057, a decrease of about 23.7%[5]. Property Development and Sales - The company has sold 84 out of 156 units at Bal Residence and 103 out of 112 units at 尚柏, with estimated proceeds of HKD 436,200,000 and HKD 305,600,000 respectively[2]. - Property development and sales revenue for 2024 is HKD 44,956,000, a decrease from HKD 47,408,000 in 2023, representing a decline of 3.0%[10]. - The total confirmed sales revenue from property sales for the year ending July 31, 2024, was HKD 1,529.5 million, up from HKD 946.6 million in 2023, marking a substantial increase[81]. - The average selling price for residential units in the Bal Residence was HKD 15,314 per square foot, contributing HKD 316.7 million to sales revenue[81]. - The total contracted sales from joint venture projects in Hong Kong amounted to HKD 167.2 million, including 2 independent houses and 25 residential units[85]. Market Conditions and Strategic Initiatives - The company plans to continue reviewing and reallocating resources across its business segments[2]. - The company aims to optimize its tenant mix to maintain current occupancy rates amid market challenges[28]. - The company has implemented renovation and space optimization measures to enhance the competitiveness of its major leasing properties[28]. - The geopolitical tensions and economic uncertainties are expected to continue affecting global growth and business activities[27]. - The company is adapting to changing consumer behaviors and lifestyles to ensure long-term success[28]. - The Hong Kong government has relaxed residential purchase restrictions, including the cancellation of additional stamp duty, which initially led to a significant increase in property transaction volume[29]. Investment and Financing Activities - The company completed the sale of non-residential properties and parking spaces for HKD 80,000,000, enhancing its capital structure and financial resources[38]. - A 10% stake in Bayshore Development was sold for approximately HKD 1,422,000,000, improving cash flow and financial status[38]. - The company plans to complete the sale of 港嶽 for HKD 215,800,000 by January 2025, further reallocating financial resources[39]. - The net debt ratio as of July 31, 2024, was approximately 138%, up from 119% a year earlier[41]. - The group issued secured notes totaling USD 493 million and HKD 385 million, with fixed interest rates ranging from 4.9% to 5.25%[119]. Operational Highlights - The company has implemented attractive tax policies, reducing corporate income tax to 15% for qualifying enterprises in Hengqin[77]. - The company is focusing on new product development and technology advancements to drive future growth and market expansion[59]. - The company is closely monitoring the tourism market in Thailand for its hotel project, which is still in the planning stage[104]. - The company continues to produce engaging TV series, achieving satisfactory viewership ratings on platforms like Youku and TVB, and is in discussions for new projects with multiple Chinese partners[36]. Employee and Governance - The group employed approximately 3,800 employees as of July 31, 2024, maintaining competitive salary levels and performance-based promotions[124]. - The company adhered to all corporate governance code provisions except for the attendance of the chairman at the annual general meeting due to prior commitments[123]. - The annual general meeting is scheduled for December 13, 2024, with relevant documents to be published in mid-November 2024[128].
丽新国际(00191) - 2024 - 年度业绩