Financial Performance - The company's basic earnings attributable to shareholders for 2022 increased to HKD 11.07 billion, a 72.4% rise from HKD 6.42 billion in 2021[2]. - The basic earnings per share for 2022 were HKD 0.94, compared to HKD 0.55 in 2021[3]. - The net profit attributable to shareholders for the year ended December 31, 2022, was HKD 12.15 billion, a decrease of 45.0% from HKD 22.09 billion in 2021[3]. - The group's net profit for the year was HKD 1,209,876,000, a decrease from HKD 2,210,054,000 in 2021, reflecting a decline of 45.2%[16]. - The group's earnings per share for the year was HKD 1.03, down from HKD 1.88 in the previous year, indicating a decline of 45.2%[16]. - The company reported a pre-tax profit of HKD 1,646,679,000 for 2022, compared to HKD 2,335,266,000 in 2021, reflecting a decrease of approximately 29.5%[31]. - The company incurred financial costs of HKD 96,309,000 in 2022, up from HKD 41,825,000 in 2021, indicating a rise of approximately 130%[32]. - The company reported a significant decrease in other net expenses, which amounted to HKD 92,540,000 in 2022 compared to HKD 1,076,700,000 in 2021[31]. Revenue and Sales - The group's total revenue for the year ended December 31, 2022, was HKD 4,581,905,000, an increase from HKD 2,050,388,000 in 2021, representing a growth of 123.5%[16]. - The total sales revenue from the residential project "Ocean Garden" in Hong Kong was approximately HKD 3 billion, with over 520 units sold by December 31, 2022[6]. - The group recorded a total pre-sale/sales amount of approximately RMB 2 billion from development projects in mainland China for the year ended December 31, 2022[6]. - The group recorded cash inflows of approximately HKD 2,890,000,000 from pre-sales and sales of projects in Hong Kong during the year, mainly from the sale of the Ocean Garden project[42]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.57 per share, maintaining the same level as in 2021, with a total annual dividend of HKD 0.83 per share[4]. - The diluted earnings per share for the year ended December 31, 2022, was HKD 0.26 for the interim dividend, an increase from HKD 0.25 in 2021, with total dividends declared amounting to HKD 976,604,000 compared to HKD 964,838,000 in 2021[37]. Assets and Liabilities - Total non-current assets as of December 31, 2022, amounted to HKD 19,795,875, a decrease from HKD 20,164,146 in 2021, reflecting a decline of approximately 1.8%[19]. - Current assets totaled HKD 27,969,929, slightly up from HKD 27,953,080 in the previous year, indicating a marginal increase of 0.06%[20]. - Current liabilities increased significantly to HKD 19,190,832 from HKD 14,628,888, representing a rise of approximately 31.5%[20]. - The net asset value decreased to HKD 18,535,699 from HKD 19,074,434, a decline of about 2.8% year-over-year[20]. - The total assets as of December 31, 2022, amounted to HKD 47,765,804,000, slightly down from HKD 48,117,226,000 in 2021[27]. - The company's total liabilities increased to HKD 10,039,273 from HKD 14,413,904, indicating a decrease of approximately 30.5%[20]. Property Development and Projects - The company acquired 70% equity interest in a property development project in Zhuhai, China, enhancing its land reserve[7]. - The group is actively developing several major property projects in various cities, with completion dates ranging from 2023 to 2028[9]. - The group plans to launch pre-sales for the residential development project in Tseung Kwan O, which has approximately 1,000 unsold units, in 2023[14]. - The group expects to complete the foundation works for the first phase of the Hengda Plaza project in Zhuhai in the first half of 2023, with superstructure works commencing in the second half of the year[15]. - The group has a 49% stake in the Tianjin City Square project, with the office building of Phase 3A expected to be completed in 2023 and Phase 3B in 2025[11]. - The group is progressing with the foundation works for the Jiangwan City Phase 5 project in Shenyang and expects to commence construction for the Jiangwan South Garden Phase 3 residential project in Huizhou within the year[14]. - The group invested approximately HKD 1,852,000,000 in project development during the year, focusing on both Hong Kong and mainland China projects[42]. Market Conditions - The Hong Kong residential property prices fell over 15% in 2022, ending a 13-year upward trend, while transaction volumes also decreased[5]. - The group anticipates that the economic recovery in Hong Kong and mainland China will positively impact the real estate market, with a GDP growth target of around 5% set for 2023[14]. Human Resources - The total number of employees decreased to 2,668 as of December 31, 2022, from 2,854 in the previous year, with total employee costs rising to HKD 633 million, up from HKD 623 million in 2021[45]. - The group emphasizes the importance of human resources quality in maintaining competitive advantages and has implemented various training programs to enhance employee skills[45]. Corporate Governance - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2022, with no discrepancies found between the preliminary financial figures and the final report[46][47]. - The company has complied with all corporate governance codes except for the specific provision C.2.1 regarding the dual role of the chairman and CEO[48][49]. - No purchase, sale, or redemption of the company's listed securities occurred during the year ended December 31, 2022[50]. - The 2023 Annual General Meeting is scheduled for June 7, 2023, with a notice to be published in due course[50]. - The company will suspend share transfer registration from June 2, 2023, to June 7, 2023, to determine shareholder eligibility for the AGM[51]. - A report for the year 2022 will be published on the company's website and sent to shareholders by the end of April 2023[53].
九龙建业(00034) - 2022 - 年度业绩