Financial Performance - K. Wah International Holdings Limited reported a mid-year performance for the six months ending June 30, 2024, with a cash dividend of HKD 0.04 per share announced for distribution on October 25, 2024[29]. - The company's revenue for 2023 was HKD 6,102,809, a decrease of 30.5% from HKD 8,793,712 in 2022[45]. - Profit attributable to equity holders for 2023 was HKD 802,156, down 41.5% from HKD 1,372,387 in 2022[47]. - Earnings per share for 2023 was HKD 25.6, a decline of 41.3% compared to HKD 43.8 in 2022[48]. - The company declared a final dividend of HKD 9.0 per share for 2023, reduced from HKD 16.0 in 2022[49]. - The net asset value per share for 2023 was HKD 12.71, down from HKD 14.00 in 2022[51]. - The total assets decreased to HKD 55,402,930 in 2024 from HKD 60,130,267 in 2023[45]. - Profit attributable to equity holders was approximately HKD 340 million, with core profit around HKD 360 million[60]. - The company achieved a revenue of HKD 7.19 billion, with significant contributions from property sales in Nanjing, Guangzhou, and Hong Kong[60]. Strategic Focus and Development - The company has a strategic focus on integrated development and investment in premium residential projects, Grade-A office towers, hotels, serviced apartments, and retail premises across Hong Kong and the Greater Bay Area[4][5]. - KWIH aims to maintain a disciplined approach in land acquisition to enhance the quality of living spaces and deliver long-term shareholder value[8]. - The company plans to continue expanding its footprint in the Yangtze River Delta and Pearl River Delta regions, leveraging its established reputation and expertise in the property sector[4]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[45]. - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its portfolio[45]. Awards and Recognition - The company has been recognized with multiple international accolades for its unique and sophisticated lifestyle projects, reflecting its commitment to quality and innovation[5]. - KWIH's projects in Hong Kong and Shanghai have recently won awards at the 2024-2025 Asia Pacific Property Awards, highlighting its excellence in high-rise residential development and integrated architectural design[28]. - The company has received multiple awards for excellence in real estate development and corporate social responsibility in 2024[37]. - K. Wah International received multiple awards for its landscape and garden design, including the "Outstanding Clubhouse and Landscape Design" award at the 2024 Hong Kong Economic Times Corporate Awards[155]. Sustainability and Community Development - The company is focused on sustainability and community development, ensuring that its projects not only meet market demands but also contribute positively to the environment[7]. - The group continues to focus on sustainable development, emphasizing resource management and green building initiatives[154]. - The group has set mid-term greenhouse gas reduction targets aiming for a 26% reduction in emissions density and a 39% reduction in energy density by 2025 compared to 2016 levels[154]. - The group actively participates in community programs focusing on arts, youth development, and support for underprivileged families[160]. - K. Wah International's "GO GREEN @ K. Wah" initiative includes various environmental activities aimed at enhancing employee awareness and promoting sustainable community development[159]. Property Management and Sales - KWIH's property management arm, Cresleigh Property, provides exceptional management services guided by international standards, enhancing the value of its premium properties[6]. - The company sold over 230 units in the Victoria Harbour project and successfully sold all 440 units in the Shanghai project during the review period[56]. - The group recorded a contracted sales amount of HKD 3 billion from the sale of high-end properties, contributing to a total of HKD 2.3 billion in attributable sales for the year[64]. - The residential project in Yuen Long has sold nearly all units from the first two phases, with the third phase expected to be launched in 2025[75]. - The group is developing a project in Hong Kong with a total floor area of approximately 4,100 square meters, which has received an occupancy permit and will be launched based on market conditions[71]. Corporate Governance - The board consists of seven members, including the chairman, two co-managing directors, one non-executive director, and three independent non-executive directors, with independent directors accounting for more than one-third of the board[175]. - The board is committed to enhancing gender diversity, with one female member among the seven directors[176]. - The company has established a comprehensive set of guidelines for new directors to ensure compliance with applicable rules and regulations[178]. - The board has established procedures to address conflicts of interest in accordance with corporate governance codes[179]. - The board is responsible for reviewing and monitoring the company's corporate governance policies and practices annually[188]. Financial Management - The group had guarantees for credit facilities amounting to HKD 28,471 million, slightly down from HKD 28,693 million in 2023[147]. - The company's bank borrowings amounted to HKD 14,563 million, down from HKD 15,182 million in 2023, with an average borrowing rate reduced from 4.7% to 4.3%[136]. - The debt ratio decreased from 17% at the end of last year to 12% as of December 31, 2024[137]. - The total value of pledged assets for bank borrowings was HKD 4,341 million, down from HKD 5,242 million in 2023[145]. - The unutilized bank loan facilities were HKD 17,666 million, an increase from HKD 16,811 million in 2023, with cash and bank deposits rising to HKD 9,649 million from HKD 7,496 million[137].
嘉华国际(00173) - 2024 - 年度财报