Financial Performance - The group reported a net profit attributable to shareholders of HKD 28.8 million for the six months ended December 31, 2023, compared to a loss of HKD 51.5 million in the same period of 2022[3]. - Revenue for the interim period was HKD 65.7 million, slightly down from HKD 68.2 million in 2022[3]. - Earnings per share for the interim period were HKD 0.0252, compared to a loss per share of HKD 0.0450 in the previous year[3]. - Gross profit for the same period was HKD 37,694,834, compared to HKD 35,062,738 in the previous year, reflecting an increase of 7.5%[45]. - The pre-tax profit for the six months ended December 31, 2023, was HKD 28,949,413, compared to a loss of HKD 51,344,070 for the same period in 2022[58]. - The total net financial income for the period was HKD 25,929,698, significantly higher than HKD 10,213,916 in the previous year[56]. - The company reported a significant increase in the share of profits from joint ventures, amounting to HKD 66,227,118 compared to HKD 329,733 in the previous year[56]. Dividends and Assets - The group declared an interim dividend of HKD 0.015 per share, compared to no dividend in 2022[9]. - Total assets less current liabilities amounted to HKD 4,082,757,074 as of December 31, 2023, a slight decrease from HKD 4,143,043,962 as of June 30, 2023[49]. - The company's cash and cash equivalents increased to HKD 1,156,378,271 from HKD 911,594,178 in the previous period, indicating improved liquidity[49]. - The net current assets stood at HKD 1,247,345,560, up from HKD 915,969,772 in the previous period, indicating a stronger short-term financial position[49]. - The group maintains a strong financial position with no outstanding debts as of December 31, 2023[42]. Hotel Operations and Occupancy - The average occupancy rates for the three hotels were 100% for City Garden Hotel, 69.5% for Hong Kong Park Lane Hotel, and 84.7% for Royal Pacific Hotel, showing significant improvement from the previous year's rates[13]. - The hotel industry in Hong Kong has seen a significant recovery with increased occupancy rates and room prices due to the resurgence of business and leisure travel[32]. - Revenue for the hotel operations segment for the six months ended December 31, 2023, was HKD 65,755,260, a decrease of 3.7% from HKD 68,264,106 for the same period in 2022[56]. - The recovery of business and leisure travel has led to a significant increase in hotel demand, with nearly 34 million visitors to Hong Kong in 2023, approaching pre-pandemic levels[12]. - The group is prepared to meet the rising demand for travel as air passenger volumes recover and ticket prices normalize[42]. Sustainability and Community Engagement - The group continues to emphasize sustainable development and community engagement through various employee participation initiatives[20]. - The group was recognized as one of the top ten in the "Hotel Sustainability Index" by the Chinese University of Hong Kong for the second consecutive year, highlighting its commitment to sustainable development in the hotel industry[21]. - The group installed 72 solar panels at the City Garden Hotel to support renewable energy development in Hong Kong[24]. - The group initiated the "Plastic Reduction Action" in April 2018, replacing plastic bottled water with smart water filtration stations and ceasing the use of disposable plastic straws and umbrella bags[25]. - The group donated a total of 283 kilograms of surplus food to local underprivileged families through the Royal Pacific Hotel in collaboration with the Feeding Hong Kong Foundation[25]. - The group actively engages in community service initiatives, including the "Love Soup Action" to provide hot soup to the elderly during winter[27]. Employee Training and Customer Satisfaction - The company has focused on employee training programs, with over 90% of staff participating, resulting in a 10% increase in customer satisfaction[20]. - The group continues to enhance its products and services to ensure a pleasant stay experience for guests[42]. - The group emphasizes the importance of understanding changes in consumer behavior, particularly among mainland Chinese tourists, who account for 78.7% of visitors to Hong Kong[40]. Future Outlook and Strategic Plans - The company’s financial performance reflects a strategic shift and potential for future growth, with ongoing assessments of new products and market expansion strategies[51]. - The company plans to issue its mid-term report on March 12, 2024, detailing all relevant information as per listing rules[73].
SINO HOTELS(01221) - 2024 - 中期业绩