2025-10-08 08:32Financial Performance - Group revenue for the year ended June 30, 2025, was HKD 79,721 million, an increase of 11.5% from HKD 71,506 million in 2024[17] - Profit attributable to shareholders for the same period was HKD 19,277 million, reflecting a 1.2% increase from HKD 19,046 million[17] - Basic earnings per share attributable to shareholders increased to HKD 6.65, up 1.2% from HKD 6.57[17] - For the fiscal year ending June 30, 2025, the company's attributable profit to shareholders was HKD 19.28 billion, compared to HKD 19.05 billion in the previous year, reflecting a slight increase[31] - The basic earnings per share for the year was HKD 7.54, up from HKD 7.50 in the previous year[31] - The group recorded a total rental income of HKD 24.46 billion, a decrease of 2% year-on-year[34] - The profit from property sales was HKD 8.29 billion, compared to HKD 7.85 billion in the previous year[33] - The fair value change of investment properties resulted in a net loss of HKD 2.58 billion, compared to a loss of HKD 2.69 billion in the previous year[28] - The group maintained a strong financial position with a net debt-to-equity ratio of 15.1% and an interest coverage ratio of 6 times as of June 30, 2025[80] Rental Income and Property Management - Total rental income decreased by 2.1% to HKD 24,461 million, while net rental income fell by 3.2% to HKD 18,392 million[17] - The total rental income from the group's property investment portfolio in Hong Kong slightly decreased by 2% year-on-year to HKD 17.53 billion, with an overall occupancy rate of approximately 95%[46] - The total rental income from the group's rental properties in mainland China decreased by 2% year-on-year to RMB 5.713 billion, impacted by reduced retail property turnover rent and office rental pressure[65] - The total rental income from joint ventures and associates was HKD 17.53 billion, a slight decrease of 2% year-on-year, with an average occupancy rate of approximately 92%[166] - The rental income from the property portfolio was HKD 17.53 billion, representing a decrease of 2% compared to the previous fiscal year[122] Land Reserves and Development Projects - The total land reserve in Hong Kong was 57.4 million square feet, with 19.7 million square feet under development[17] - In mainland China, the total land reserve was 65.3 million square feet, with 44.2 million square feet under development[17] - The group holds approximately 1.97 million square feet of properties under development, sufficient to meet development needs for the next 6 to 7 years[121] - The group has a land reserve of approximately 65.3 million square feet in mainland China, with over 50% designated for high-quality residential and office developments[59] - The group is developing the Kai Tak Sky project, which will provide around 1,500 luxury residential units with a total residential floor area of approximately 1.1 million square feet[132] Strategic Initiatives and Future Plans - The company plans to announce its interim results on February 27, 2025, and the annual results on September 4, 2025[15] - The group plans to launch new residential projects in Hong Kong, including the second phase of Kai Tak's residential units and other major projects, with sufficient inventory to support future business development[98] - The group is committed to developing the West Kowloon area into a strategic commercial hub, with projects totaling over 7 million square feet to meet diverse business and tourist needs[57] - The group plans to enhance its competitive advantage in the office property sector by focusing on transportation accessibility and high standards of property management[53] - The group is exploring potential applications of artificial intelligence to better understand market trends and improve efficiency and service quality[101] Community Engagement and Corporate Social Responsibility - The group is actively promoting community engagement through initiatives like the "High Mountain Road Community Living Room," providing 4,600 square feet of shared space for underprivileged families[89] - The group is involved in various sports and community events, including sponsoring the largest cycling event in Hong Kong, enhancing its corporate social responsibility profile[90] - The group has expanded the pet-friendly park "Pawsome Park" in Yuen Long, increasing its area by over 100%[179] Sustainability and ESG Initiatives - The group achieved an MSCI ESG rating upgrade to AA, reflecting its outstanding performance in environmental, social, and governance aspects[84] - Approximately 150 green building certifications have been obtained in Hong Kong, with the International Trade Centre being the first in Asia to receive LEED v5.0 Platinum certification[85] - The group has installed around 20,000 solar panels across managed properties and construction sites, creating the largest solar power network in Hong Kong[85] - The West Kowloon Global Trade Square is the first building in Asia to receive LEED V5.0 Platinum certification, showcasing the group's commitment to ESG standards[189] Market Trends and Consumer Behavior - The membership program "The Point" has over 3 million members, with active members showing steady growth in spending, indicating consumer resilience[47] - The group is actively optimizing its mall tenant mix and services to enhance customer traffic and stimulate consumption amid changing consumer preferences[65] - The group’s shopping malls actively host outdoor markets and festive decorations to enhance foot traffic and consumer spending[183]