Financial Performance - The group's revenue for the year ended December 31, 2022, was HKD 8,794,000,000, with attributable revenue from joint ventures and associates amounting to HKD 9,347,000,000[3]. - Core profit reached HKD 1,452,000,000, while profit attributable to equity holders was HKD 1,372,000,000, resulting in earnings per share of HKD 0.4381[4]. - The total comprehensive income for the year was HKD 558,368,000, compared to HKD 1,089,152,000 in the previous year[5]. - Total revenue for the year ended December 31, 2022, was HKD 8,793,712, a decrease of 46.1% from HKD 16,217,700 in 2021[13]. - Revenue from property sales was HKD 8,098,033 in 2022, down from HKD 15,479,022 in 2021, representing a decline of 47.6%[13]. - The company reported a profit for the year of HKD 3,439,293, down from HKD 3,354,877 in 2021, indicating a slight increase of 2.5%[18]. - Basic earnings per share for 2022 were HKD 0.438, compared to HKD 1.071 in 2021, a decrease of 59.1%[18]. - The audited loss attributable to equity holders for the year ended December 31, 2022, was HKD 3,434,000,000, compared to a profit of HKD 1,326,000,000 in 2021[44]. Assets and Liabilities - The group's total assets as of December 31, 2022, amounted to HKD 76,635,909,000, a decrease from HKD 78,497,598,000 in the previous year[6]. - The group's total liabilities decreased to HKD 29,993,038,000 from HKD 33,282,164,000 in the previous year[6]. - The group's net asset value per share was HKD 14[3]. - Non-current assets totaled HKD 16,184,355 as of December 31, 2022, compared to HKD 17,326,949 in 2021, a decrease of 6.6%[13]. - The group provided guarantees for loans amounting to HKD 13,457,470,000 as of December 31, 2022, with utilized guarantees of HKD 8,564,795,000[21]. - The group had pledged assets with a book value of HKD 4.921 billion as of December 31, 2022, compared to HKD 20.374 billion in 2021[55]. Cash Flow and Financing - The group's cash and cash equivalents were HKD 8,660,364,000, an increase from HKD 8,136,563,000 in the previous year[6]. - The group's bank borrowings amounted to HKD 14.939 billion as of December 31, 2022, down from HKD 18.984 billion in 2021, with an average interest rate increase from 1.6% to 2.6%[52]. - The unutilized bank loan facilities were HKD 19.074 billion as of December 31, 2022, compared to HKD 18.132 billion in 2021, with cash and bank deposits at HKD 8.66 billion[53]. - The debt ratio decreased from 24% as of December 31, 2021, to 13% as of December 31, 2022, due to net cash inflow[53]. - The group executed a HKD 8 billion syndicated loan in October 2022 to refinance a HKD 7 billion club loan maturing in January 2023, enhancing its financing capacity[53]. Market and Economic Conditions - The global inflation rate reached historical highs, with the US inflation rate soaring to 9.1% and the UK at 11.1%, prompting central banks to raise interest rates[46]. - China's GDP growth slowed to 3% in 2022, with inflation at a relatively mild 2% compared to Western economies[46]. - In Hong Kong, property transaction volumes fell by 42% and 39% for new and second-hand properties respectively, with the private residential price index dropping by 15.6%, the largest decline since 1998[47]. - Nationwide, new home sales and prices in China decreased by 27% and 28% year-on-year, respectively, due to economic slowdown and strict COVID-19 policies[48]. - The IMF forecasts China's GDP growth to be 5.2% in 2023, up from a previous estimate of 4.4%, with the central government's growth target set at around 5%[50]. Strategic Plans and Developments - The group plans to continue seeking opportunities in Hong Kong, the Pearl River Delta, and the Yangtze River Delta regions to replenish land reserves[3]. - The group aims to prudently and orderly acquire residential/commercial land through wholly-owned or joint ventures[3]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[12]. - The group plans to launch more units in response to strong market demand following successful sales of the aforementioned projects[29]. Projects and Sales - The group signed contracts for attributable sales reaching a historical high of HKD 18.8 billion as of December 31, 2022, with unrecognized attributable sales of HKD 18.6 billion[3]. - The group recorded sales revenue of approximately HKD 31,000,000,000 from the delivery of pre-sold units in the year[23]. - The project "Kai Tak Kai Fung Wai" has a total floor area of approximately 53,000 square meters, providing 1,006 units, and was completed in November 2021[24]. - The "Yuen Long Po Long" project has sold 96% of its units during the pre-sale phase, with a total floor area of approximately 114,800 square meters[26]. - The group achieved nearly RMB 8.2 billion in contracted sales from five new projects in mainland China, including Shanghai and Nanjing[29]. Corporate Governance and Compliance - The board has adopted the standard code of conduct for securities trading as per the listing rules, confirming all directors complied with the regulations for the year ended December 31, 2022[61]. - The company plans to adopt new rules to align with the latest statutory and regulatory requirements in Bermuda and the listing rules[66]. - The company will suspend share transfer registration from June 2 to June 7, 2023, to determine shareholder eligibility for voting at the annual general meeting[64]. Dividends - The company declared an interim cash dividend of HKD 0.07 per share for 2022, consistent with the previous year[18]. - The company proposed a final cash dividend of HKD 0.14 per share, totaling HKD 438,605,000 for the year ended December 31, 2022, consistent with the previous year's dividend[63]. - The total dividend for the year, including an interim cash dividend of HKD 0.07 per share, amounts to HKD 0.21 per share, unchanged from the previous year[63].
嘉华国际(00173) - 2022 - 年度业绩