Sales Performance - In 2024, the Group recorded pre-sales of properties and car park units totaling approximately HK$784.5 million, an increase of 30.6% from HK$600.4 million in 2023[21]. - The total pre-sold gross floor area (GFA) was approximately 14,269 sq.m., an increase of approximately 89.2% from 2023[68]. - The average selling price (ASP) of pre-sold properties in 2024 was approximately HK$54,649.9 per sq.m., a decrease of approximately 30.3% compared to HK$78,355.4 per sq.m. in 2023[68]. - For the year ended December 31, 2024, the Group achieved property sales revenue (excluding car park sales) of approximately HK$804.3 million, with a saleable GFA of approximately 8,644 sq.m., representing increases of approximately 99.9% and 41.1% respectively compared to the previous year[74]. - Property sales revenue amounted to approximately HK$806.8 million, representing about 58.9% of total revenue, with a significant increase of approximately 99.0% compared to the previous year[98][101]. Rental Income and Occupancy - Rental income from investment properties was approximately HK$223.1 million in 2024, up by 2.7% from HK$217.2 million in 2023[21]. - The overall occupancy rate of the Group's investment properties was approximately 88.0% as of December 31, 2024[21]. - The average monthly rental income for the Group's investment properties was approximately HK$84.2 per sq.m. for the year ended December 31, 2024, compared to approximately HK$69.3 per sq.m. in the previous year[82]. - The occupancy rate of the Group's investment properties increased from approximately 82.5% as of December 31, 2023, to approximately 88.0% as of December 31, 2024[82]. - The average occupancy rate of Top Spring Commercial's projects was 90% as of the end of 2024, with 164 merchants signed throughout the year, representing a year-on-year increase of approximately 21.7% in rented area[39]. Property Development and Land Bank - The Group's land reserve across 17 property projects amounted to approximately 402,853 square meters as of December 31, 2024[21]. - The land reserve strategy focuses on the Greater Bay Area and first-tier cities such as Shenzhen, Shanghai, and Hong Kong[21]. - The total area of managed properties reached approximately 13.22 million square meters, with about 8.99 million square meters being properties not developed by the Group[21]. - The Group's strategic focus includes synergistic development of diversified businesses alongside its core real estate business[50]. - The Group plans to continue acquiring land with investment potential, particularly in economically vibrant areas with growth potential, such as the Greater Bay Area and Shanghai[91]. Financial Performance - The Group's consolidated revenue for the year ended December 31, 2024, reached approximately HK$1,369.3 million, an increase of approximately 43.5% compared to HK$954.3 million in 2023[95][100]. - The Group recorded a gross loss of approximately HK$116.8 million for the year, with a gross loss margin of approximately 8.5%, improved from a gross loss margin of approximately 26.6% in 2023[104][108]. - Direct costs increased to approximately HK$1,486.1 million, up from approximately HK$1,208.1 million in 2023, primarily due to increased property sales[103]. - The Group recorded an investment property valuation loss of approximately HK$1,195.9 million, a significant decline from a valuation gain of approximately HK$14.4 million in 2023[113]. - The Group's financing costs decreased by approximately 5.3% to approximately HK$303.2 million, attributed to the repayment of certain bank loans[114]. Market Conditions and Strategy - Over 700 policies have been introduced across various regions in 2024 to stabilize the real estate market, aiming for a "stop the decline and stabilize" policy goal[29]. - The Group is confident in Hong Kong's pivotal role in the Greater Bay Area and aims to leverage investment opportunities in high-end boutique properties[48]. - The Group aims to balance cash flow and profit in its commercial business while optimizing the portfolio to maximize asset returns[41]. - The Group is actively promoting the establishment of unmanned aerial vehicle landing sites in Yangpu District, enhancing the brand influence and competitiveness of the urban industrial community[32]. - The Group aims to capture business breakthroughs and growth points by integrating resources and investing prudently in line with market dynamics and industry trends[50]. Employee and Administrative Costs - As of December 31, 2024, the Group employed approximately 754 employees, a decrease from 851 employees as of December 31, 2023, representing a reduction of about 11.4%[159]. - Total staff and related costs for the year ended December 31, 2024, were approximately HK$196.9 million, down from approximately HK$218.6 million for the year ended December 31, 2023, indicating a decrease of about 9.9%[159]. - Administrative expenses increased by approximately 11.9% to approximately HK$197.8 million for the year ended 31 December 2024 from approximately HK$176.8 million for the year ended 31 December 2023[117]. Investment Properties - As of December 31, 2024, the total fair value of the Group's investment properties was approximately HK$6,378.4 million, accounting for about 38.4% of the Group's total assets[80]. - The Group recorded a loss in fair value of investment properties of approximately HK$915.9 million for the year ended December 31, 2024, compared to a gain of approximately HK$13.2 million in the previous year[80]. - The Group's investment property portfolio had a total leasable GFA of approximately 301,768 sq.m.[80]. - The proportion of leased area occupied by major tenants increased from approximately 29.6% to approximately 37.9% year-on-year[81]. - The Group's properties held for investment include 302,892 sq.m. of retail/office space and 574 sq.m. of campus space[65].
莱蒙国际(03688) - 2024 - 年度财报