鹰君(00041) - 2024 - 年度财报

Financial Performance - For the fiscal year 2024, the core business after-tax profit was approximately HKD 1,553 million[6]. - Core business revenue for 2024 reached HKD 7,833.1 million, an increase of 4.1% compared to HKD 7,522.3 million in 2023[17]. - Equity holders' post-tax core profit decreased by 16.4% to HKD 1,553.0 million from HKD 1,858.1 million year-on-year[17]. - Total revenue under statutory accounting standards was HKD 10,878.5 million, up 2.2% from HKD 10,644.2 million in the previous year[17]. - The overall operating income declined by 8.7% to HKD 2,885.6 million from HKD 3,161.2 million in the previous year[32]. - The total assets of the group amounted to HKD 99,404 million, with total liabilities of HKD 36,378 million, resulting in a net asset value of HKD 63,026 million[27]. - The group's overall performance remains resilient, with a financial cost increase of 15.4% to HKD 512.0 million due to rising interest rates[34]. - The consolidated financial cost for the year amounted to HKD 1,543 million, with an interest coverage ratio of 2.5 times[95]. Dividends - The proposed final dividend for the year ending December 31, 2024, is HKD 0.50 per share, consistent with the previous year[12]. - The total dividend for the fiscal year 2024 is expected to be HKD 0.87 per share, unchanged from 2023[12]. - The mid-term dividend of HKD 0.37 per share was distributed on October 15, 2024[12]. - The group maintained a consistent annual dividend of HKD 0.87 per share for both 2024 and 2023[17]. Property and Development Projects - The company is involved in several development projects, including two premium residential projects in Hong Kong and two hotel development projects in Tokyo and Venice[5]. - The total number of hotel rooms in the company's portfolio exceeds 11,000 across 31 hotels globally[6]. - The residential development project "Lang Hin Peak" in Ho Man Tin has sold 62.5% of its total usable area, generating approximately HKD 9.3 billion in sales proceeds[78]. - The joint development project in Kai Tak has a total land price of HKD 5.35 billion, with a total gross floor area of approximately 992,270 square feet[79]. - The joint development project in Kowloon City has a total land price of HKD 1.934 billion, with a total gross floor area of approximately 414,920 square feet[80]. - The total gross floor area for the Tokyo hotel redevelopment project is approximately 380,000 square feet, with a flagship hotel featuring 270 rooms designed by Kengo Kuma & Associates[83]. - The Venice Murano Island hotel project has a total building area of approximately 170,000 square feet and is set to feature 133 rooms, with construction starting in Q2 2024[86]. Financial Position and Debt - As of December 31, 2024, the group's consolidated net debt is HKD 25,097 million, a decrease of HKD 3,314 million from HKD 28,411 million on December 31, 2023, primarily due to positive cash flow from operations[87]. - The group's equity attributable to shareholders is HKD 54,089 million as of December 31, 2024, down from HKD 56,779 million a year earlier, mainly due to valuation losses on investment properties[87]. - The group's leverage ratio is 36.1% as of December 31, 2024, down from 39.5% a year earlier, reflecting a decrease in net debt[88]. - The total borrowings of the group, including medium-term notes and other loans, amounted to HKD 31,978 million as of December 31, 2024, compared to HKD 34,378 million on December 31, 2023[91]. Market Outlook - The outlook for 2025 indicates potential disruptions to global trade and investment flows due to geopolitical tensions and rising interest rates, impacting economic growth in mainland China and Hong Kong[99]. - The hotel division's outlook remains stable despite operational challenges, including labor shortages and rising costs, with a focus on cost control and innovation[100]. - The office rental market is under pressure due to high inventory levels, with expectations of continued rental pressure on specific properties[100]. Environmental and Sustainability Initiatives - The company aims to reduce energy consumption by 30% and carbon emissions by 46% by 2030, using 2019 as the baseline[114]. - Since 2019, the overall energy consumption and carbon emissions have decreased by 12.2% and 25.9%, respectively[114]. - The company has identified three main climate risks: typhoons, extreme rainfall leading to flooding, and extreme heat[110]. - The company has installed smart water meters in key properties, with no leaks detected, resulting in a 1.4% reduction in overall water consumption since 2019[114]. - Over 12 tons of oyster shells have been converted into sustainable cement products as part of the "Oyster Shell Upgrade and Reuse Program"[115]. - The company has launched a tenant engagement program called "EcoChampion Pledge" to enhance climate change adaptation and mitigation measures for over 30 tenants[122]. Corporate Governance - The company updated its anti-fraud, bribery, and corruption policies, as well as its employee conduct code and privacy policy in 2024[144]. - The board consists of 35% executive directors, 33% non-executive directors, and 47% independent non-executive directors, ensuring a diverse governance structure[160]. - The board has established a comprehensive governance policy framework, including anti-fraud, bribery, and corruption policies[146]. - The board's responsibilities include approving significant business expansions and changes to the capital structure[163]. - The board held a total of four meetings during the fiscal year ending December 31, 2024, with all meetings conducted via teleconference or video conference[176]. Employee and Director Remuneration - A total of 6,155,000 stock options were granted to eligible employees under the 2019 stock option plan, officially announced on March 20, 2024[144]. - The remuneration policy for executive directors is based on their skills, knowledge, responsibilities, and the company's financial performance, with no director participating in decisions regarding their own remuneration[196]. - The annual director's remuneration for each director is set at HKD 220,000 for the year ending December 31, 2024[197].