Financial Performance - The unaudited profit attributable to owners for the six months ended June 30, 2022, was HKD 229 million, a decrease of 51% compared to HKD 470 million in the same period of 2021[6]. - The profit attributable to owners, adjusted for unrealized fair value changes from investment properties, was HKD 458 million, down from HKD 618 million in the previous year, representing a decline of 26%[6]. - The basic earnings per share for the period were HKD 0.076, compared to HKD 0.156 in the same period last year, reflecting a 51% decrease[6]. - Total revenue for the six months ended June 30, 2022, was HKD 1,889,517, a slight decrease of 0.6% compared to HKD 1,901,562 in the same period of 2021[61]. - Operating profit for the same period was HKD 346,639, down 52.1% from HKD 724,428 in 2021[61]. - Net profit for the period was HKD 305,704, representing a decrease of 49.1% compared to HKD 600,179 in the previous year[62]. - The company reported a net profit of HKD 228,557,000 for the six months ended June 30, 2022, compared to HKD 469,978,000 for the same period in 2021, indicating a decrease of approximately 51.3%[103]. - Total revenue for the six months ended June 30, 2022, was HKD 1,901,562,000, a decline from HKD 1,927,036,000 in the previous year, representing a decrease of about 1.3%[98]. Real Estate Development - The real estate sector recorded a profit of HKD 610 million in the first half of 2022, down 33% from HKD 898 million in the same period of 2021[8]. - As of June 30, 2022, 98% of residential units in the completed project "The Waterside" in Macau have been sold and accounted for[9]. - The "Hengqin Integrated Development Project" has sold 422 residential units, with 419 units delivered to buyers as of June 30, 2022[11]. - The Beijing Tongzhou Integrated Development Project is expected to complete its first phase in 2024, covering 127,000 square meters of retail space and 119,000 square meters of office space[13]. - The Tianjin South High-Speed Railway Station Integrated Development Project is expected to be completed in phases by Q4 2022, covering a total construction area of 330,000 square meters[15]. - The Shanghai Qiantan cultural and arts community project has a total construction area of 140,500 square meters, including a five-star hotel with 202 rooms, expected to be completed in 2023[16]. - The Shanghai Suhewan integrated development project covers an area of 186,500 square meters, strategically located near popular tourist attractions and major business districts[16]. - The Kunming South High-Speed Railway Station integrated development project, covering 65,000 square meters, aims to create a regional medical and commercial hub with a total floor area of approximately 550,000 square meters, expected to commence operations in 2024[18]. - The Singapore project, covering 43,356 square feet, has sold 37 units, including three penthouses, since its pre-sale began in May 2021, with construction expected to be completed in the first half of 2024[19]. Occupancy Rates and Retail Performance - The Hong Kong shopping mall, located at West Kowloon, has maintained a 100% occupancy rate as of June 30, 2022, with new tenants enhancing the retail mix[22]. - The Xibao City shopping mall in Hong Kong achieved a 92% occupancy rate as of June 30, 2022, following renovations aimed at attracting family-oriented customers[23]. - The Macau Star Plaza shopping mall has an occupancy rate of 89% as of June 30, 2022, with all major tenants operational despite pandemic-related challenges[26]. - The group holds a 100% stake in the Macau retail property, maintaining a 100% occupancy rate as of June 30, 2022, while providing rent reductions to long-term tenants due to significant losses from decreased tourist numbers[26]. - The average office occupancy rate for the Xin De Jing Hui Center in Beijing reached 70% as of June 30, 2022[27]. - The Guangzhou Xin De Business Tower achieved an average occupancy rate of 89% as of June 30, 2022, contributing to stable revenue for the group[28]. Transportation and Hotel Performance - The transportation sector reported a loss of HKD 94 million in the first half of 2022, compared to a loss of HKD 137 million in the same period of 2021[29]. - The hotel and leisure division recorded a loss of HKD 130 million in the first half of 2022, compared to a loss of HKD 94 million in the same period of 2021[33]. - The average occupancy rate for the Hong Kong SkyCity Marriott Hotel was 19% as of June 30, 2022[36]. - The average occupancy rate for the Luhuan Seaside Resort Hotel in Macau reached 82% as of June 30, 2022, benefiting from demand from travelers from Hong Kong and Taiwan[37]. - The average occupancy rate for Beijing Dongzhimen Yacheng Hotel dropped to 35% in the first half of 2022 due to COVID-19 restrictions[38]. - Shanghai Hongqiao Yacheng Hotel recorded an average occupancy rate of 37% during the same period, impacted by a surge in COVID-19 cases[38]. - Shanghai Hongqiao Yacheng Ti Hotel's average occupancy rate fell to 26% in the first half of 2022, primarily serving healthcare personnel during the pandemic[38]. - The group plans to open five new hotels in mainland China by the end of 2022, increasing the total number of hotels in Shanghai to seven[43]. Financial Position and Commitments - The group reported a bank balance and deposits of HKD 7,963 million as of June 30, 2022, an increase of HKD 144 million from December 31, 2021[55]. - The group's capital and debt ratio was 30.3% as of June 30, 2022, compared to 28.0% on December 31, 2021[55]. - The group has a capital commitment of approximately HKD 281 million for hotel property construction in Singapore as of June 30, 2022[56]. - The group has an outstanding capital commitment of approximately USD 94 million (equivalent to about HKD 736 million) for its investment in Perennial HC Holdings Pte. Ltd.[57]. - The group has secured bank loans totaling approximately HKD 7,389 million against assets with a book value of HKD 14,387 million[58]. - The group anticipates a slight decline in overall performance for 2022 compared to the previous year due to economic challenges in Macau[52]. - The group’s total assets as of June 30, 2022, were HKD 53,319,217, a decrease from HKD 55,383,192 at the end of 2021[63]. - The group’s non-current liabilities totaled HKD 16,448,364, down from HKD 17,165,378 at the end of the previous year[64]. Shareholder Information and Corporate Governance - The company had a total of 3,020,379,785 issued and fully paid ordinary shares as of June 30, 2022, slightly down from 3,021,479,785 shares as of December 31, 2021[111]. - Ms. Ho Choi Kiong held a total of 373,620,627 shares, representing approximately 17.87% of the total issued shares[135]. - Ms. Ho Choi Fung owned 134,503,471 shares, which accounted for 7.42% of the total issued shares[135]. - Renito Investments Limited holds 500,658,864 shares, representing 16.58% of the total issued shares, making it the largest shareholder[141]. - Oakmount Holdings Limited owns 396,522,735 shares, accounting for 13.13% of the total issued shares[141]. - The board believes it has complied with all provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and CEO[143]. - The company has four independent non-executive directors providing independent advice and opinions on board matters[143].
信德集团(00242) - 2022 - 中期财报