鹰君(00041) - 2022 - 中期财报

Financial Performance - Core business revenue for the six months ended June 30, 2022, was HKD 2,967 million, representing a 15.7% increase from HKD 2,563.8 million in the same period of 2021[11]. - Profit attributable to equity holders, excluding tax, was HKD 513 million, down 4.1% from HKD 534.9 million in the previous year[11]. - Earnings per share attributable to equity holders, excluding tax, was HKD 0.70, compared to HKD 0.74 in the prior year[11]. - Total revenue according to statutory accounting standards was HKD 4,091 million, a 14.6% increase from HKD 3,569.3 million in the previous year[11]. - Core profit before tax for the six months ended June 30, 2022, was HKD 589.8 million, a 7.5% increase from HKD 548.8 million in the same period of 2021[15]. - The group reported a core profit after tax of HKD 512.7 million, a decrease of 4.2% from HKD 535.0 million in the same period of 2021[15]. - Total revenue for the first half of 2022 was HKD 4,091.0 million, representing a 14.6% increase from HKD 3,569.3 million in the first half of 2021[19]. - The group achieved a profit attributable to shareholders of HKD 123.864 million for the period[134]. - The group reported a net profit before tax of HKD 378.685 million, showcasing robust financial health[134]. - The company reported a significant increase in investment income, amounting to HKD 216,708 million for the period[114]. Dividend and Shareholder Returns - The company declared an interim dividend of HKD 0.33 per share, consistent with the previous year's interim dividend[8]. - The group declared an interim dividend of HKD 0.33 per share for the six months ended June 30, 2022, consistent with the previous year[146]. - The company issued 16,682,933 shares as scrip dividends at a price of HKD 15.98 per share, compared to 10,247,300 shares at HKD 25.32 per share in the previous period[194]. Assets and Liabilities - The total assets of the group as of June 30, 2022, amounted to HKD 100,329 million, with net assets of HKD 66,318 million[17]. - The total assets of the group's operations decreased from HKD 47,069 million at the end of 2021 to HKD 44,000 million as of June 30, 2022[18]. - The company's total liabilities as of June 30, 2022, were HKD 11,602,821,000, compared to HKD 11,573,080,000 as of December 31, 2021, indicating a slight increase in debt levels[140]. - The company's total non-current liabilities amounted to HKD 28,037 million, an increase from HKD 27,501 million as of December 31, 2021, representing a growth of approximately 1.9%[113]. - The company's cash and cash equivalents stood at HKD 4,930,936,000, down from HKD 6,119,146,000 at the end of 2021, reflecting a need for cash flow optimization[112]. Revenue Breakdown - Hotel segment revenue increased by 119.2% to HKD 1,591.3 million compared to HKD 725.9 million in the previous year[15]. - The revenue from property sales was HKD 539.6 million, down 43.7% from HKD 957.6 million in the same period last year[19]. - Rental income from investment properties was HKD 1,253,306,000, a slight decrease of 3.9% from HKD 1,303,514,000 in the prior period[123]. - The hotel business segment generated external revenue of HKD 2,008.281 million, contributing significantly to the overall performance[134]. Operational Developments - The company is developing two premium residential projects in Hong Kong and several hotel projects in the United States, Japan, and Italy[3]. - The company plans to pre-sell a residential project in Ho Man Tin in the first half of 2023, with completion expected in Q4 2024[20]. - The company is advancing the redevelopment of the Chelsea hotel project in London, which will exceed 1.7 million square feet[27]. - The company launched a new mid-range hotel brand "Yifeng Hotel" to expand its hotel business in mainland China[29]. Financial Management and Costs - The group's administrative and other expenses increased by 41.2% to HKD 270.0 million from HKD 191.2 million in the previous year[15]. - The company's financial costs net value increased to HKD 76.4 million, up from HKD 30.3 million in the first half of 2021[21]. - The total finance costs for the six months ended June 30, 2022, were HKD 349,259,000, a decrease of 4.5% compared to HKD 367,073,000 for the same period in 2021[143]. Market Conditions and Future Outlook - The group anticipates ongoing pressure on its hotel business due to the pandemic, inflation, and geopolitical tensions, but expects recovery in overseas hotel operations as travel restrictions ease[62]. - The group plans to continue seeking acquisition opportunities, particularly in mid-sized hotels or related chains, during the current market downturn[62]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[135]. Corporate Governance - The company has a strong focus on corporate governance, with various committees including remuneration, audit, and nomination committees led by experienced directors[66]. - The company has a commitment to maintaining high standards of corporate governance, as evidenced by the roles of independent directors in key committees[66]. - The board of directors has been monitoring and reviewing corporate governance practices, ensuring compliance with most provisions of the corporate governance code[74]. Shareholder Structure - The company holds a 67.99% stake in the Crown Industrial Trust as of June 30, 2022[88]. - The company has a 69.53% ownership in Langham Hospitality Investments as of June 30, 2022[91]. - Dr. Lo Ka Shing holds 64,790,835 shares, representing 8.67% of the issued share capital[85].