Financial Performance - K. Wah International Holdings Limited reported a cash dividend of HKD 0.07 per share for the interim period ending June 30, 2022[10]. - The company announced a cash dividend of HKD 0.14 per share for the final dividend for the year ending December 31, 2022[10]. - For the fiscal year ending December 31, 2022, the company recorded contract sales exceeding HKD 18.8 billion and revenue of approximately HKD 9.35 billion[17]. - The profit attributable to equity holders was around HKD 1.37 billion, with core profit approximately HKD 1.45 billion[17]. - The total revenue for 2022 decreased by 46.1% compared to the previous year, which was HKD 16.22 billion[12]. - The company's earnings before tax for 2022 was HKD 2.07 billion, a decline of 59.3% from HKD 5.09 billion in 2021[12]. - The group’s revenue for the year ended December 31, 2022, was HKD 8,794,000,000, primarily from property sales in Hong Kong and mainland China, as well as rental income from Shanghai[22]. - The attributable profit to equity holders for the year was HKD 1,372,000,000, with core profit (excluding fair value changes of investment properties) at HKD 1,452,000,000, reflecting a decrease compared to 2021 due to fewer presale projects completed[22]. - The total signed sales for the year reached a historical high of approximately HKD 18.8 billion, mainly from projects in Hong Kong and Shanghai[22]. - The total equity and borrowings amounted to HKD 62 billion as of December 31, 2022, down from HKD 64 billion in 2021[98]. Awards and Recognition - KWIH was recognized as one of the top 10 property developers in Hong Kong by BCI Asia in 2022[6]. - The company received the Best Property Development Award in the Guangdong-Hong Kong-Macao Greater Bay Area in 2022[6]. - The company has been awarded multiple accolades for its property quality and design, reflecting its commitment to excellence[6]. - The company received multiple awards for its projects, including gold and merit awards in the "2022 Best Landscape Award - Private Property" category[117]. Property Development and Management - KWIH's property management arm, Cresleigh Property, provides premium management services to various types of properties, including residential and commercial[3]. - The company has a strategic focus on integrated development projects in Hong Kong, the Yangtze River Delta, and the Pearl River Delta regions[3]. - KWIH aims to adopt a progressive strategy in land acquisition to enhance the quality of living spaces[3]. - KWIH's projects include large-scale residential communities and Grade-A office towers, showcasing its expertise in premium property development[3]. - The company emphasizes sustainability and community development in its project undertakings[3]. - The group plans to continue launching high-quality residential projects in Hong Kong and mainland China[17]. Market Conditions and Challenges - The company faced challenges in the global economic environment, including geopolitical tensions and rising inflation rates[17]. - In mainland China, new housing sales and prices fell by 27% and 28% year-on-year, respectively, during the year[91]. - The group maintains a cautiously optimistic outlook for the medium to long-term development of the real estate market in Hong Kong and mainland China, supported by recent government measures[19]. Corporate Governance - The board of directors is committed to delivering sustained value to shareholders through effective corporate governance practices[128]. - The board consists of eight members, including the chairman and managing director, with independent non-executive directors making up more than one-third of the board[131]. - The company has established mechanisms to ensure independent viewpoints and opinions are obtained and undergoes an annual review[138]. - The company has adopted a set of standard codes for securities trading by directors and their associates, confirming compliance for the year ending December 31, 2022[141]. - The company has complied with the corporate governance code as per Listing Rule Appendix 14 for the fiscal year ending December 31, 2022, with some exceptions noted[156]. Sustainability Initiatives - The company aims to reduce greenhouse gas emissions density and energy density by 26% and 39% respectively by 2025, compared to 2016 levels[116]. - In 2022, the company signed HKD 8 billion in sustainable development performance-linked revolving and term loans with nine banks[116]. - The company achieved a 5.3% reduction in greenhouse gas emissions density in 2022 compared to 2021[116]. Employee and Community Engagement - The company emphasizes training and development opportunities, providing training subsidies and programs to encourage continuous education[118]. - The company actively supports community initiatives, including donations of rapid test kits and hotel accommodations for frontline healthcare workers during the COVID-19 pandemic[120]. - As of December 31, 2022, the total number of employees in Hong Kong and mainland China was 968, with employee costs (excluding director remuneration) amounting to approximately HKD 421 million[112]. Financial Policies and Shareholder Communication - The board of directors has adopted a dividend policy considering operational performance, working capital needs, and financial conditions[169]. - The company has implemented a shareholder communication policy, revised in March 2023, to ensure timely and effective information dissemination to shareholders and stakeholders[152]. - The company encourages shareholders to attend annual general meetings to stay informed about progress and summaries of operations[152].
嘉华国际(00173) - 2022 - 年度财报