恒基地产(00012) - 2024 - 年度财报

Financial Performance - For the year ended December 31, 2024, the group's revenue from property development decreased by 15% to HKD 20,548 million, while the pre-tax profit contribution increased by 31% to HKD 5,632 million[1]. - Total rental income from property leasing rose by 1% to HKD 8,942 million, with pre-tax net rental income also increasing by 1% to HKD 6,507 million[1]. - The group's basic earnings attributable to shareholders for the year were HKD 9,774 million, a slight increase of 1% from HKD 9,706 million in the previous year, resulting in basic earnings per share of HKD 2.02[1][27]. - The announced profit attributable to shareholders decreased by 32% to HKD 6,296 million, with announced earnings per share dropping to HKD 1.30 from HKD 1.91[1][27]. - The net asset value per share as of December 31, 2024, was HKD 66.55, down 1% from HKD 67.45 in the previous year[1]. - The group's total contracted sales in Hong Kong amounted to approximately HKD 112,850 million for the year ended December 31, 2024, with an unrecognized contracted sales amount of HKD 81,650 million as of the end of December 2024[1][32]. - The group recorded a fair value loss of HKD 20,222 million on completed investment properties and properties under development, while adjustments from sold investment properties amounted to HKD 14,556 million[1][27]. - The group has a strong financial position, with a focus on maximizing shareholder value through quality products and services[2]. Land and Development Projects - The company holds a substantial land reserve of 3.78 million square feet in New Territories, 2.38 million square feet in Kowloon, and 0.64 million square feet on Hong Kong Island, which is expected to generate significant revenue in the coming years[11]. - Future expansion plans include developing a series of commercial and residential projects across its extensive land reserves, aiming to capitalize on market opportunities[11]. - The total floor area available for sale by 2025 is 3.2 million square feet, consisting of 1.4 million square feet from unsold units and 1.8 million square feet from upcoming projects[34]. - The total area of urban redevelopment projects is 5.0 million square feet, including 1.7 million square feet from fully acquired properties and 0.6 million square feet from properties with over 20% ownership[34]. - The total area of New Territories projects is 4.1 million square feet, with significant contributions from the Hung Shui Kiu project at 3.4 million square feet[34]. - The company has 24 ongoing major development projects, with a total remaining residential area of 1,994,363 square feet as of December 31, 2024[39]. - The group plans to launch "Belgravia Place" Phase 2 and "South Point" in Ma Tau Kok in February and March 2025, respectively, with strong initial sales performance expected[1][32]. - The company has several projects in the pipeline, including the Kai Tak New Kowloon site with a total floor area of 1,205,028 sq ft and 2,060 units, of which 30% is owned[41]. Sustainability and Environmental Initiatives - The company is focused on sustainable development, achieving Platinum-level certifications in various green building standards, which reflects its commitment to environmental responsibility[13][18]. - The group has secured over HKD 50 billion in green loans and sustainable development financing since 2020, highlighting its commitment to environmental responsibility[114]. - The group has initiated a recycling program for old uniforms, transforming them into eco-friendly school uniforms for special needs students, demonstrating its commitment to sustainability[65]. - The group has launched an environmental Christmas tree project, using collected aluminum cans to create a festive display, further promoting its green initiatives[65]. - The group aims to continue its commitment to sustainable development through its "G.I.V.E." strategy, focusing on environmental protection, innovation, community care, and integrity[115]. Market Position and Strategy - Henderson Land Development has a diversified portfolio with interests in various sectors, including retail, hospitality, and energy, enhancing its market presence and revenue streams[20]. - The company is actively exploring mergers and acquisitions to enhance its market position and expand its operational capabilities[20]. - The group is focusing on leasing large commercial projects, achieving over 80% occupancy for the "Starry International Business Center" in Guangzhou and nearly 90% for the "Starry West Coast Center" in Shanghai[69]. - The group is exploring new market opportunities and potential acquisitions to further enhance its portfolio and market presence[197]. - The group is actively managing lease expirations, with several properties set to expire in 2047, ensuring long-term stability[198]. Awards and Recognition - The company has received multiple awards in 2024, including the Quality Building Award for innovative projects and the Hong Kong Institute of Architects Annual Awards, highlighting its commitment to quality and sustainability[13][18]. - The flagship project, The Henderson, completed in 2024, received multiple awards, including the Hong Kong Non-Residential Project Award at the Quality Building Awards 2024[116]. - The Henderson has received multiple international awards, including the Platinum pre-certification from LEED and the Asia Pacific Green Building Leadership Award from WorldGBC, highlighting the group's commitment to quality and sustainability[62]. Rental and Property Management - The average occupancy rate of the group's rental properties as of December 31, 2024, was 93%[55]. - The group's self-owned rental property portfolio expanded to approximately 10.4 million square feet, with 54% in retail space and 40% in office space[55]. - The total rental income attributable to the group increased by 2% to HKD 6.84 billion, while the attributable net rental income remained stable at HKD 4.91 billion[54]. - The office property portfolio remains resilient with a stable occupancy rate of around 90%, despite challenges in the leasing market due to economic uncertainty and significant new supply[58][60]. - The group manages over 79,000 residential and commercial units, 10 million square feet of retail and office space, and 20,000 parking spaces, maintaining a leading position in the property management industry[64]. Future Outlook - The group anticipates that the average annual completion of private residential units in the next five years will decrease by approximately 8% compared to the previous five years, providing support for the local property market[118]. - The group plans to launch 11 development projects in Hong Kong this year, with approximately 6,400 self-owned residential units or about 3 million square feet of self-owned residential floor area expected to be available for sale by 2025[120]. - The group is expanding its sustainable aviation fuel production capacity with a new plant in Johor, Malaysia, expected to be completed by 2025[122]. - The company is actively pursuing market expansion through various residential and mixed-use developments across key locations in Hong Kong[196].