Financial Performance - Contract sales reached approximately RMB 14.8 billion, an increase of 198% year-on-year, achieving 64% of the annual sales target[2]. - Revenue amounted to HKD 6.06 billion with a gross profit of HKD 2.08 billion, resulting in an overall gross margin of 34.4%[2]. - The loss attributable to equity shareholders was HKD 117 million, with a basic loss per share of HKD 0.0131[2]. - Operating profit was HKD 1.33 billion, down from HKD 5.99 billion in the previous year[3]. - For the six months ended June 30, 2023, total revenue amounted to HKD 6,152,635 thousand, a decrease of 94,745 thousand compared to the previous period[14]. - The company reported a loss attributable to equity shareholders of HKD (116,615) for the six months ended June 30, 2023, compared to a profit of HKD 2,360,778 in the same period of 2022[25]. - The company reported a revenue of approximately HKD 6.06 billion for the first half of 2023, a decrease of 61% compared to the same period last year[45]. - Gross profit for the same period was approximately HKD 2.08 billion, with an overall gross margin of 34.4%[45]. - The company recorded a loss attributable to equity shareholders of approximately HKD 117 million, resulting in a basic loss per share of HKD 0.0131[45]. - The total tax expense for the six months ended June 30, 2023, was HKD 557,217, significantly lower than HKD 3,335,836 for the same period in 2022[22]. Revenue Sources - Revenue from property investment, property management, and hotel operations grew by 25%, 11%, and 62% respectively[2]. - Property development revenue was HKD 2,946,867 thousand, while property investment revenue was HKD 709,618 thousand, contributing to the overall revenue[14]. - Rental income for the six months ended June 30, 2023, was HKD 693,708, compared to HKD 555,731 in the previous year, representing an increase of 24.8%[17]. - Hotel operating revenue was approximately HKD 190 million, a 62% increase year-on-year, with the Mandarin Oriental Hotel in Shenzhen receiving a five-star rating from Forbes Travel Guide[55]. - Property investment revenue reached approximately HKD 690 million in the first half of the year, an increase of about 25% compared to the same period last year[49]. - The urban comprehensive operation business achieved a revenue of approximately HKD 1.42 billion, an 11% increase compared to the same period last year[87]. Assets and Liabilities - Total assets amounted to HKD 165.34 billion, compared to HKD 163.47 billion at the end of the previous year[5][8]. - Total liabilities increased to HKD 118.73 billion from HKD 113.91 billion[8]. - The total equity attributable to equity shareholders decreased to HKD 41.75 billion from HKD 44.63 billion[6]. - Cash and cash equivalents stood at HKD 11.44 billion, slightly down from HKD 11.67 billion[5]. - The company’s total loans secured by various assets were approximately HKD 8,175,624,000 as of June 30, 2023, down from HKD 10,339,363,000 as of December 31, 2022[36]. - The company’s investment properties had a fair value of approximately HKD 34.33 billion, with a revaluation increase of HKD 27.6 million during the period[86]. - The group’s cash balance, including restricted cash, was HKD 15.15 billion as of June 30, 2023, compared to HKD 13.36 billion at the end of 2022[94]. - The net debt ratio as of June 30, 2023, was 53.2%, down from 60.2% at the end of 2022[94]. Dividends - The board declared an interim dividend of HKD 0.02 per share[2]. - The interim dividend for 2023 is set at HKD 0.02 per share, amounting to HKD 177,976,000, compared to HKD 0.03 per share or HKD 266,964,000 for the interim dividend in 2022[27]. - The company declared a final dividend of HKD 0.12 per share for the year ended December 31, 2022, totaling approximately HKD 1,067,855,000, which was paid in cash on July 5, 2023[27]. Market and Operational Insights - The company faces challenges in the real estate market, with a slow recovery and significant differentiation in performance across projects[44]. - The overall occupancy rate of the smart mobility industrial park in Shenzhen remains above 96%, with a rental growth rate of 3%-5%[50]. - Cumulative signed subscription area reached 17,000 square meters, with over 80% occupancy rate in the Shima Technology Park located in Ma'anshan[51]. - The group expanded 43 new operational projects in the first half of 2023, with a total contracted area of approximately 75.61 million square meters[53]. - The company is focusing on urban renewal projects and will expedite negotiations for project relocations to realize resource transformation[69]. - The company is preparing to launch the Zhongshan Bay New City commercial project, which will feature Asia's first international indoor theme park cluster[72]. - The company plans to actively research the feasibility of asset securitization for high-value investment properties and parks to promote a virtuous cycle of asset management[70]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange Listing Rules during the six months ended June 30, 2023[101]. - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and practices adopted by the group[102]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the six months ended June 30, 2023[103]. Employee and Talent Management - The total number of employees as of June 30, 2023, was 22,229, an increase from 21,786 as of June 30, 2022[99]. - Total employee compensation (excluding directors' remuneration) for the six months ended June 30, 2023, was approximately HKD 1.371 billion, down from HKD 1.498 billion for the same period in 2022[99]. - The company is committed to enhancing its talent pool by precisely recruiting urgently needed talents to support high-quality development[64]. - The company has implemented a centralized human resources database to unify the management of over 24,000 employees' business processes and compensation data[65]. Strategic Initiatives - The company plans to deliver approximately RMB 30 billion in saleable value in the second half of the year, focusing on residential projects in prime locations such as Shenzhen, Zhongshan, Shanghai, and Chengdu[68]. - The company aims to strengthen its agricultural sector by enhancing supply chain product systems and promoting brand effects, targeting a significant increase in annual sales revenue[73]. - The company is focusing on expanding its technology investments, particularly in the smart control industry, to enhance its market share and overseas presence[73]. - The group has successfully obtained a USD 730 million external debt quota and signed a HKD 5 billion medium to long-term loan agreement[62]. - The group continues to maintain a good rating on the MSCI-ESG index and has won the "Best ESG Award" for two consecutive years[61].
深圳控股(00604) - 2023 - 中期业绩