Financial Performance - The group's revenue reached HKD 5,392,000,000, with total attributable revenue from joint ventures and associates increasing by 79% to HKD 5,787,000,000[16] - Core profit surged 120% to HKD 1,063,000,000, while profit attributable to equity holders rose by 39% to HKD 1,081,000,000[16] - The contracted sales attributable to the group during the period amounted to HKD 12.4 billion[16] - As of June 30, 2022, the contracted but unrecognized sales attributable to the group stood at HKD 15.5 billion[16] - Earnings per share were HKD 0.3451, with an interim dividend of HKD 0.07 per share declared[16] - The group's revenue for the six months ended June 30, 2022, was HKD 5,392,000,000, with attributable revenue from joint ventures and associates amounting to HKD 5,787,000,000[18] - Attributable profit to equity holders for the period was HKD 1,081,000,000, while core profit (excluding fair value changes of investment properties) was HKD 1,063,000,000[18] - The group signed contracts for attributable sales of approximately HKD 12.4 billion during the period, primarily from projects in Hong Kong and mainland China[18] - The net profit for the period was HKD 1,109,727,000, compared to HKD 811,492,000 in the previous year, reflecting a year-on-year increase of 36.7%[36] - Basic earnings per share increased to HKD 34.51 from HKD 24.83, marking a growth of 39%[35] Dividend and Shareholder Returns - The total interim cash dividend declared amounts to HKD 219,303,000, consistent with the previous year's dividend of HKD 218,888,000[17] - The interim cash dividend declared is HKD 219,303,000, equivalent to HKD 0.07 per share, consistent with the previous year's dividend[56] Asset and Liability Management - The total assets and borrowings of the group amounted to HKD 61 billion as of June 30, 2022, down from HKD 64 billion at the end of 2021[26] - The group's bank borrowings decreased to HKD 14.92 billion as of June 30, 2022, compared to HKD 18.98 billion at the end of 2021, with 44% of repayments due within one year[27] - The group's cash and bank deposits were HKD 6.77 billion as of June 30, 2022, with approximately 76% held in RMB[27] - The debt ratio decreased from 24% at the end of 2021 to 18% as of June 30, 2022, due to strong contracted sales[27] - The group has a total of HKD 20.39 billion in undrawn bank loan facilities as of June 30, 2022, up from HKD 18.13 billion at the end of 2021[27] - The total assets as of June 30, 2022, were HKD 72,437,380,000, a decrease from HKD 78,497,598,000 at the end of 2021[37] - The company's total liabilities decreased to HKD 26,536,828,000 from HKD 33,282,164,000, indicating improved financial stability[37] Market Conditions and Strategy - The group continues to prudently seek opportunities in Hong Kong, the Pearl River Delta, and the Yangtze River Delta regions to appropriately replenish land reserves[16] - The Hong Kong property market saw a 41% year-on-year decline in primary market transaction volume, while the secondary market experienced a 37% drop[22] - The mainland property market faced challenges, with national housing sales down 32% year-on-year, but the group successfully sold all units in the newly launched residential projects in Shanghai and Nanjing[22] - The group expects to continue its prudent and optimistic approach towards the long-term stable development of the local and mainland real estate markets[25] - The group plans to leverage its financial strength to pursue land reserve strategies and seize opportunities in Hong Kong, the Yangtze River Delta, and the Pearl River Delta regions[25] Investment and Development Activities - The group successfully launched five new projects in mainland China, generating approximately RMB 5 billion in attributable sales[19] - The group participated in land auctions and is actively seeking new investment opportunities, including a collaboration for a redevelopment project in Guangzhou[23] Financial Position and Cash Flow - The company's cash and cash equivalents stood at HKD 6,771,248,000, down from HKD 8,136,563,000, reflecting a reduction in liquidity[37] - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 773,550,000, a decrease of 57.0% compared to HKD 1,801,408,000 in 2021[38] - The net cash from investing activities significantly increased to HKD 2,136,876,000 from HKD 228,484,000 in the previous year, indicating a substantial improvement in investment performance[38] - The net cash used in financing activities was HKD (4,023,960,000), compared to HKD (3,790,016,000) in the prior year, indicating a higher outflow in financing[38] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with some deviations noted regarding the roles of the chairman and the CEO[84] - The audit committee reviewed the company's accounting principles and practices, ensuring compliance with financial reporting standards[82] - The company has committed to maintaining high levels of corporate governance to enhance transparency and accountability[84] Share Options and Management - The company’s directors collectively hold approximately 65.42% of the issued share capital, with significant individual holdings reported[68] - The company has not granted any new options under the 2021 Share Option Scheme since its adoption on June 9, 2021[72] - The total number of options held by directors and employees as of January 1, 2022, was 5,720,000, with 650,000 options having expired during the period[73]
嘉华国际(00173) - 2022 - 中期财报