Financial Performance - The company's revenue for the year 2023 was HKD 1,738,400,000, an increase of 21.6% compared to HKD 1,429,500,000 in 2022[13] - The operating profit for 2023 was HKD 362,600,000, up from HKD 162,100,000 in the previous year[13] - The profit attributable to equity shareholders for 2023 was HKD 219,656,000, compared to HKD 76,302,000 in 2022, resulting in a basic earnings per share of HKD 0.646[28] - The total assets of the company as of the reporting date were HKD 5,796,137,000, compared to HKD 5,635,896,000 in the previous year[8] - The equity attributable to equity shareholders increased to HKD 3,118,380,000 from HKD 2,936,799,000[8] - The company declared a final dividend of HKD 0.11 per share for 2023, up from HKD 0.05 per share in 2022[8] - The company declared an interim dividend of HKD 0.03 per share on October 26, 2023, compared to no dividend in 2022[141] - The board proposed a final dividend of HKD 0.08 per share for the year ending December 31, 2023, up from HKD 0.05 per share in 2022, indicating a 60% increase[141] Hotel Business Performance - The group's hotel business revenue increased to HKD 1,639,000,000 in 2023, up 23.1% from HKD 1,331,000,000 in 2022[59] - The hotel operating profit for the group was HKD 239,900,000 in 2023, significantly up from HKD 79,000,000 in 2022[59] - The occupancy rate for the Wuhan Holiday Inn increased to 56% in 2023 from 51% in 2022[58] - In Vietnam, the Sheraton Saigon Hotel's occupancy rate rose to 76.3% in 2023, up from 55.4% in 2022, with an average room rate of USD 172 compared to USD 148 in 2022[63] - The average room rate in China reached RMB 403 per night in 2023, compared to RMB 305 in 2022[35] - The occupancy rate for the Osaka Shinsaibashi Hotel improved to 75% in 2023 from 41% in 2022, with an average room rate of JPY 9,444 compared to JPY 6,326 in 2022[58] - The average room rate for the New York Sofitel Hotel was USD 389 per night in 2023, slightly up from USD 387 in 2022, with an occupancy rate of 77.0%[41] - The occupancy rate for the Delta Marriott Hotel at Toronto Airport and Conference Centre increased to 69.7% in 2023, up from 61.6% in 2022, with an average room rate of CAD 177 compared to CAD 158 in 2022[106] - The occupancy rate of the San Francisco W Hotel decreased to 66.5%, down from 68.8% in 2022[67] - The average room rate in 2023 was $336 per night, compared to $305 per night in 2022[67] - New York Sofitel Hotel achieved a 77% occupancy rate in 2023, up from 61% in 2022, with an average room rate of $389 compared to $387 last year[190] - San Francisco W Hotel reported a 67% occupancy rate in 2023, slightly down from 69% in 2022, with an average room rate of $336, an increase from $305[190] - Ho Chi Minh City Sheraton Hotel's occupancy rate improved to 76% in 2023 from 55% in 2022, with an average room rate of $172, up from $148[190] - Wuhan Qinchuan Holiday Inn recorded a 56% occupancy rate in 2023, an increase from 51% in 2022, with an average room rate of 403 RMB compared to 305 RMB last year[190] - Osaka Shinsaibashi Best Western Hotel achieved a 75% occupancy rate in 2023, significantly up from 41% in 2022, with an average room rate of 9,444 JPY compared to 6,326 JPY[190] Economic and Market Conditions - The Macau economy showed significant recovery in 2023, driven by a rebound in tourism and strong growth in gaming revenue[14] - The office property market is expected to face continued decline due to slow local business recovery and government shifts in property usage[30] - The US hotel industry showed resilience in 2023, with strong domestic demand driving recovery, although significant risks remain for 2024[66] - Vietnam welcomed 12.6 million international tourists in 2023, a 3.4 times increase compared to the previous year, although still about 70% of pre-pandemic levels[62] Risk Management and Sustainability - The company is closely monitoring risks and uncertainties related to the ongoing global pandemic and macroeconomic factors[79] - The company has established a risk management committee to oversee its risk management processes[104] - The company recognizes the importance of sustainable development and has implemented ESG strategies to manage environmental and social risks while identifying new business opportunities[115] - The company has established a risk management system to monitor and control the impacts of climate change, including implementing energy-saving measures and disaster recovery plans[116] - The company is committed to reducing emissions and has implemented measures such as upgrading boilers and installing additional solar panels[117] - The company has implemented waste reduction measures, including recycling and energy-saving initiatives, to minimize environmental impact[137] - The company is committed to social sustainability and community investment, reflecting its responsibility towards employees and the community[139] - The company has sufficient measures and monitoring systems in place to comply with local laws and regulations, with no significant non-compliance events reported during the year[123] Corporate Governance and Strategy - The company aims to create long-term value through disciplined investment and potential acquisitions[79] - The company emphasizes talent as a key driver for business growth and sustainable development, promoting workplace diversity to attract top talent[136] - The company operates primarily in property investment and development, with activities in Macau, Vietnam, China, Canada, the United States, and Hong Kong[139] - The company has established a selection process for suppliers based on quality, delivery, cooperation, and price, prioritizing those with economic and environmental awareness[135] - The company’s major suppliers account for less than 30% of total procurement, indicating a diversified supply chain[126] - The company has approximately 1,843 employees as of December 31, 2023, and adopts a localization policy for hiring[187] - The company has established defined contribution retirement plans in Hong Kong, Macau, the People's Republic of China, Vietnam, the United States, Canada, and Japan[187] Asset Management - The fair value of investment properties decreased by HKD 12,500,000 in 2023, compared to an increase of HKD 3,900,000 in 2022[16] - As of December 31, 2023, the Ottawa Sheraton Hotel was classified as an asset held for sale, with expected proceeds (before tax and transaction costs) of approximately CAD 28,014,000 (about HKD 161,622,000) from the sale, which is set to complete on February 29, 2024[106] - The company holds a 70.61% stake in the majority of its assets in Macau, which are managed by Golden Mountain Development Limited[17] - The company has a significant indirect holding of 56,675,000 shares in Jinshan Development Co., Ltd., accounting for 80.96% equity[172] - The company has a 99.70% equity stake in Lam Ho Investments Pte Ltd, with indirect holdings of 32,410,774 shares[170] - The company has a 100% equity stake in KSF Enterprises Sdn Bhd, holding 31,705,000 ordinary shares[174] - The company has a 100% equity stake in Chateau Ottawa Hotel Inc., with holdings of 9,000,000 ordinary shares[175] - The company holds a total of 198,580,800 shares, with a 58.37% equity percentage held by the major shareholders[168] - The indirect investment in Hubei Qingchuan Hotel Co., Ltd. amounts to USD 13,163,880, representing an 80.76% equity stake[171]
激成投资(00184) - 2023 - 年度财报