Financial Performance - The company reported an unaudited loss attributable to shareholders of HKD 425 million for the six months ended June 30, 2023, compared to a profit of HKD 229 million in the same period of 2022[1]. - The basic loss per share was HKD 14.1, a decline from a basic earnings per share of HKD 7.6 in 2022[2]. - Total revenue for the period was HKD 1,683.6 million, down from HKD 1,969.5 million in the previous year, representing a decrease of approximately 14.6%[2]. - The operating loss for the period was HKD 116.8 million, compared to an operating profit of HKD 346.6 million in 2022[2]. - Total comprehensive loss for the period amounted to HKD 1,518.7 million, compared to a total comprehensive loss of HKD 1,022.9 million in 2022[3]. - The company incurred a total loss of HKD 417,749,000 for the period, reflecting challenges in operational efficiency[13]. - The company recorded a net profit of HKD 305,704,000 for the period, compared to a profit of HKD 367,271,000 in the previous year, indicating a decrease of about 16.8%[15]. - The company reported a net loss of HKD 272,091,000 from financial assets measured at fair value through profit or loss, compared to a gain of HKD 10,972,000 in the previous year[17]. Revenue and Segments - For the six months ended June 30, 2023, total revenue was HKD 1,495,148,000, with property segment revenue contributing HKD 1,185,366,000[13]. - The investment segment reported a loss of HKD 220,793,000, impacting overall performance significantly[14]. - Rental income from the property segment was HKD 226,682,000, contributing to overall revenue stability[13]. - The fair value change of investment properties resulted in a profit of HKD 223,171,000, indicating some positive asset performance[13]. Assets and Liabilities - Non-current assets decreased to HKD 33,034 million as of June 30, 2023, from HKD 35,150 million as of December 31, 2022[4]. - Current assets increased to HKD 20,084 million as of June 30, 2023, compared to HKD 19,872 million as of December 31, 2022[4]. - The company's total liabilities decreased to HKD 13,354 million as of June 30, 2023, from HKD 12,660 million as of December 31, 2022[5]. - The company's total assets as of June 30, 2023, amounted to HKD 53,118,430,000, a decrease from HKD 55,021,949,000 at the end of 2022[16]. - The total liabilities increased to HKD 18,927,289,000 as of June 30, 2023, compared to HKD 19,243,114,000 at the end of 2022[16]. Dividends - The company decided not to declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[1]. - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[21]. Operational Segments - The operational segments include real estate, transportation, hotel and leisure, and investment, each requiring distinct marketing strategies[10]. - The transportation department recorded a profit of HKD 9 million in the first half of 2023, a significant improvement from a loss of HKD 94 million in the same period of 2022[41]. - The hotel and leisure segment recorded a profit of HKD 6 million in the first half of 2023, a significant improvement from a loss of HKD 130 million in the same period of 2022[44]. Projects and Developments - The total sales of completed residential units in Macau's project "Ho Po" reached 98%, with one unit sold in the first half of 2023[27]. - The "Ho Shang" project in Macau has sold 88% of its residential units, with 24 units sold in the first half of 2023[27]. - The Hengqin comprehensive development project has sold 422 residential units, with 421 units delivered to buyers as of June 30, 2023[28]. - The Singapore project "Somerset Road 111" achieved a commercial, retail, medical, and office space leasing rate of 94% as of June 30, 2023[28]. - The Beijing Tongzhou comprehensive development project is expected to start pre-sales of its residential units by the end of 2023, pending government approval[29]. - The Tianjin South High-Speed Railway Station project is expected to begin phased operations in Q4 2023, covering a total commercial area of 330,000 square meters[30]. - The Shanghai Qiantan 31 project has completed construction and is preparing for a Q4 2023 opening, featuring a cultural performance center with a capacity of 4,000[31]. - The Shanghai Suhewan project has achieved a rental rate of 91% for its shopping mall in the first half of 2023, with all residential units delivered to buyers[33]. Occupancy Rates - The average occupancy rate for the Hong Kong SkyCity Marriott Hotel was 56% as of June 30, 2023, with increased demand driven by upcoming events at the AsiaWorld-Expo[45]. - The average occupancy rate for the Mandarin Oriental, Macau was also 56% as of June 30, 2023, benefiting from the removal of travel restrictions and a steady increase in bookings[46]. - The average occupancy rate for the Luhuan Seaview Resort Hotel was 51% in the first half of 2023, having reopened to the public in December 2022[48]. - The Beijing Dongzhimen Yat Sing Hotel achieved an average occupancy rate of 77% as of June 30, 2023, benefiting from the significant recovery in the tourism sector[49]. - Macau Yacheng Hotel's average occupancy rate rose to 62% in the first half of 2023, benefiting from the reopening of the Macau border[52]. Financial Management - The group’s bank balances and deposits reached HKD 7,097 million as of June 30, 2023, an increase of HKD 559 million compared to December 31, 2022[68]. - The group’s capital and debt ratio was 29.7% as of June 30, 2023, compared to 28.3% at the end of 2022, indicating a slight increase in leverage[68]. - The group has capital commitments of approximately HKD 43 million for hotel property developments in Singapore and Hengqin as of June 30, 2023[69]. - The group’s total assets pledged as collateral for bank loans amounted to HKD 6,539 million as of June 30, 2023[70]. - The group has provided corporate guarantees for bank credit facilities of an associated company, with a loan balance of HKD 161 million as of June 30, 2023[71]. Corporate Governance - 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[74]. - The group’s interim financial statements for the six months ending June 30, 2023, were reviewed by the Audit and Risk Management Committee[75]. - The board consists of four independent non-executive directors providing independent advice and opinions[74].
信德集团(00242) - 2023 - 中期业绩