Financial Performance - The group's revenue for the year ended December 31, 2023, was HKD 6,103,000,000, with a total revenue including joint ventures and associates amounting to HKD 11,960,000,000[3]. - Core profit for the year was HKD 769,000,000, while profit attributable to equity holders was HKD 802,000,000[3]. - Earnings per share for the year were HKD 0.256, with a total annual dividend of HKD 0.16 per share, including a final dividend of HKD 0.09[3]. - The group reported a pre-tax profit of HKD 1,488,934,000, down from HKD 2,068,046,000 in the previous year[4]. - The total comprehensive loss for the year was HKD 862,217,000, compared to a comprehensive income of HKD 558,368,000 in the previous year[5]. - The company's net income for the year ended December 31, 2023, was HKD 842,230[11]. - Total revenue for 2023 was HKD 6,102,809, a decrease of 30.5% from HKD 8,793,712 in 2022[14]. - The company reported a pre-tax profit of HKD 646,704 in 2023, slightly up from HKD 641,563 in 2022[17]. - Basic and diluted earnings per share for 2023 were HKD 802,156 compared to HKD 1,372,387 in 2022[18]. - The company proposed a final dividend of HKD 0.09 per share for 2023, down from HKD 0.14 per share in 2022[21]. Assets and Liabilities - The group's total assets as of December 31, 2023, were HKD 72,506,967,000, a decrease from HKD 76,635,909,000 in the previous year[6]. - The group's total liabilities decreased to HKD 27,409,526,000 from HKD 29,993,038,000 in the previous year[6]. - The company's total liabilities were HKD 27,409,526, with HKD 6,657,770 from Hong Kong and HKD 17,687,553 from Mainland China[11]. - Total liabilities decreased to HKD 1,731,040 in 2023 from HKD 2,422,933 in 2022, showing improved financial health[25]. - The group's bank borrowings amounted to HKD 15.182 billion as of December 31, 2023, with an average borrowing interest rate rising from 2.6% to 4.7% due to market interest rate hikes[58]. - The debt ratio increased from 13% at the end of the previous year to 17% as of December 31, 2023[58]. Sales and Contracts - The group signed contracts for attributable sales amounting to HKD 59 billion as of December 31, 2023, with unrecognized attributable sales of HKD 126 billion[3]. - The group has signed contracts for approximately HKD 5,900,000,000 in attributable sales, primarily from various projects in Hong Kong[28]. - As of December 31, 2023, the group had approximately HKD 12,600,000,000 in signed but unrecognized attributable sales expected to be recognized starting in 2024[28]. - The group sold 6 units at the Kai Tak project, generating a signed sales amount of HKD 700,000,000[29]. - The group confirmed attributable revenue of approximately HKD 3,600,000,000 from the sale of units at the Victoria Harbour project, which began delivery in June[29]. - The Nanjing project, one of the group's popular developments, generated approximately RMB 5,000,000,000 in signed but unrecognized sales[36]. Investment and Development Projects - The group acquired a residential land parcel in Hong Kong and plans to prudently seek opportunities in Hong Kong, the Pearl River Delta, and the Yangtze River Delta regions[3]. - The group is developing several projects in Hong Kong and mainland China, with construction progress on all projects proceeding as scheduled[29][36]. - The residential project in Shanghai's Lujiazui Financial Center has a total floor area of approximately 14,200 square meters, offering 106 residential units, with all but one unit sold upon pre-sale launch in 2022[37]. - The project in Hongkou District, Shanghai, has a total floor area of about 47,000 square meters and sold all 215 residential units on the first day of pre-sale in 2022[38]. - The comprehensive development project in Xuhui District, Shanghai, spans approximately 195,800 square meters and includes 440 residential units, with over half sold on the first day of pre-sale scheduled for February 2024[38]. - The project in Jianye District, Nanjing, covers approximately 477,000 square meters and has pre-sold about 96% of the 856 residential units by the end of 2023[38]. Rental and Investment Properties - The rental performance of the group's investment properties remains stable, with an average occupancy rate of approximately 95% for key properties in Hong Kong[42]. - Shanghai Jiayu Li has a total floor area of approximately 8,000 square meters and is fully leased by the end of this year[45]. - Shanghai Yingkai Cultural Plaza has a total floor area of about 21,000 square meters and maintains a 100% occupancy rate this year[46]. - The company’s investment property fair value changes contributed HKD 24,288 to the overall profit for the year[11]. Corporate Governance and Compliance - The board of directors has adhered to the corporate governance code, with some deviations noted regarding the roles of the chairman and managing director[64]. - The company has maintained compliance with environmental, labor, occupational health and safety, anti-corruption, and personal data privacy regulations throughout the year[66]. - The board will continue to review and address any deviations from corporate governance practices as necessary[64]. Market Conditions and Economic Outlook - The Hong Kong property market faced challenges in 2023, with first-hand transaction volumes dropping to 10,752, a 33% decrease from the 10-year average[53]. - In 2023, the national new housing sales volume and sales amount in mainland China decreased by 8.2% and 6.0% year-on-year, respectively[54]. - The average new housing price index in first-tier cities increased by 1.1% year-on-year, indicating relative stability in these markets[54]. - The International Monetary Fund forecasts a GDP growth of 4.6% for mainland China in 2024, surpassing developed economies[54].
嘉华国际(00173) - 2023 - 年度业绩