Financial Performance - The company's consolidated profit attributable to equity shareholders for the year ended December 31, 2024, was HKD 255,841,000, representing an increase of 16.4% from HKD 219,656,000 in 2023[3] - Basic earnings per share for the year were HKD 0.752, up from HKD 0.646 in the previous year, reflecting a growth of 16.4%[5] - Total revenue for the year was HKD 1,692,023,000, a decrease of 2.7% compared to HKD 1,738,354,000 in 2023[5] - Operating profit increased to HKD 432,178,000 from HKD 362,570,000, marking a growth of 19.2%[5] - The total comprehensive income for the year was HKD 319,290,000, compared to HKD 300,158,000 in 2023, indicating an increase of 6.4%[7] - The pre-tax profit for 2024 was HKD 255,841,000, up from HKD 219,656,000 in 2023, reflecting an increase of 16.5%[31] - The group’s revenue for the year ended December 31, 2024, was HKD 1,692,000,000, a decrease of 2.7% compared to the same period in 2023[76] - The operating profit for the group was HKD 432,200,000 in 2024, compared to HKD 362,600,000 in 2023, including a reversal of impairment losses of HKD 169,900,000[76] - The profit attributable to equity shareholders for 2024 was HKD 255,800,000, an increase from HKD 219,700,000 in 2023[77] Revenue Breakdown - Hotel and club business revenue was HKD 1,590,265,000, down from HKD 1,645,163,000 in the previous year, representing a decline of 3.3%[17] - Rental income increased to HKD 90,302,000 from HKD 86,229,000, marking a growth of 4.4%[17] - Management fee income rose significantly to HKD 11,456,000, up from HKD 6,962,000, reflecting a growth of 64.0%[17] - The hotel segment reported a total revenue of HKD 1,584,082,000 for 2024, compared to HKD 1,639,040,000 in 2023, indicating a decrease of 3.4%[21] - The investment and company segment generated revenue of HKD 2,702,000 in 2024, slightly up from HKD 2,514,000 in 2023[21] Dividends - The company proposed a final dividend of HKD 0.07 per share, down from HKD 0.08 per share in 2023[3] - The group plans to pay an interim dividend of HKD 0.05 per share for 2024, up from HKD 0.03 per share in 2023, totaling HKD 17,010,000[41] - The group anticipates a final dividend of HKD 0.07 per share for 2024, down from HKD 0.08 per share in 2023, totaling HKD 23,814,000[41] Assets and Liabilities - Non-current assets totaled HKD 3,848,842,000, slightly up from HKD 3,801,939,000 in 2023[9] - The company's total equity increased to HKD 3,855,988,000 from HKD 3,739,798,000, reflecting a growth of 3.1%[10] - Total assets as of December 31, 2024, amounted to HKD 5,755,009,000, a slight decrease from HKD 5,796,137,000 in 2023[23] - Total liabilities as of December 31, 2024, were HKD 1,899,021,000, compared to HKD 2,056,339,000 in 2023, indicating a reduction of approximately 7.6%[25] - As of December 31, 2024, total bank loans amounted to HKD 1,281,287,000, down from HKD 1,443,870,000 in 2023[37] - The group has a total of HKD 1,206,333,000 in bank loans, consisting of HKD 1,196,287,000 secured loans and HKD 10,046,000 unsecured loans[36] - The group's debt-to-asset ratio was 21.0% in 2024, down from 23.7% in 2023[78] Cash Flow and Financial Position - The company reported a net cash position of HKD 1,523,656,000, compared to HKD 1,511,698,000 in 2023, indicating a slight increase[9] - The group maintains a strong financial position with HKD 1,523,700,000 in cash, bank deposits, and short-term bank deposits as of December 31, 2024[84] Market and Economic Outlook - Macau's GDP growth for 2024 is projected at 8.8%, recovering to 86% of pre-pandemic levels, with visitor numbers increasing by 23.8% year-on-year[48] - In 2024, Vietnam's GDP growth is projected at 7.09%, driven by the service sector and trade, despite challenges from Typhoon "Mokha"[59] - Japan's hotel industry achieved a record high of 36.9 million international visitors in 2024, a 47.1% increase from 2023, exceeding pre-pandemic levels[64] - The hotel industry is expected to continue recovering, driven by strong inbound tourism and major events, although operational cost increases and labor shortages may pose challenges[84] Operational Challenges - The total loss contribution from the hotel segment was HKD 101,634,000 in 2024, compared to a loss of HKD 11,372,000 in 2023, indicating a significant increase in losses[21] - The company reported a net loss from foreign exchange of HKD 16,013,000 in 2024, contrasting with a gain of HKD 5,617,000 in 2023[27] - The group has unfulfilled capital commitments of HKD 517,371,000 as of December 31, 2024, compared to HKD 55,511,000 in 2023[44] Future Plans - The company plans to continue focusing on market expansion and enhancing its investment properties, particularly in Macau[20] - The group plans to focus on improving occupancy rates and tenant retention through competitive leasing strategies amid challenges in the Macau real estate market[83] Miscellaneous - The group has not applied any new accounting standards that have not yet come into effect during the current accounting period[14] - The company is committed to maintaining compliance with the Hong Kong Financial Reporting Standards and the relevant listing rules[13] - The 2025 Annual General Meeting is scheduled for June 2, 2025, at 12:00 PM[90] - Share transfer registration will be suspended from May 28, 2025, to June 2, 2025, to determine eligibility for voting and dividend rights[92] - The record date for attending the AGM and voting is June 2, 2025[93] - The ex-dividend date is set for June 6, 2025[92] - Share transfer registration will be suspended from June 10, 2025, to June 13, 2025, for dividend entitlement[93]
激成投资(00184) - 2024 - 年度业绩