Core Viewpoint - Hong Kong Travel's 2024 financial report shows a 3% increase in total revenue to HKD 46.27 billion, but a 56% drop in net profit to HKD 1.06 billion, primarily due to a HKD 204 million loss in the fair value of investment properties [2][3] Financial Performance - Total revenue for 2024 reached HKD 46.27 billion, a 3% year-on-year increase [2][3] - Net profit fell to HKD 1.06 billion, a 56% decrease compared to the previous year [2][3] - Operating profit attributable to shareholders increased by 8% to HKD 3.07 billion [3] - Fair value loss of investment properties amounted to HKD 204 million, accounting for approximately 70% of the profit decline [2][3] Business Segment Analysis - Hotel and passenger transport businesses showed strong performance, with hotel revenue growing by 18% to HKD 8.20 billion and passenger transport revenue increasing by 11% to HKD 10.93 billion [3] - The core tourism and related business faced challenges, with total revenue of HKD 23.45 billion, a 2% increase, but only HKD 140 million in attributable profit, compared to a loss of HKD 100 million the previous year [4] - Revenue from natural and cultural scenic spots increased by 30% to HKD 12.41 billion, but attributable profit decreased by 39% [4] Strategic Adjustments - Hong Kong Travel is accelerating strategic adjustments, adding 5 new managed scenic spots, bringing the total to 27 [5] - The company is exploring new growth areas through partnerships, such as the "tourism + sports" initiative with the Hong Kong Jockey Club [5] - Digital transformation efforts include upgrading digital platforms and exploring AI and drone technology applications in scenic areas [5] Market Expansion Plans - The company aims to increase investment and asset allocation in Hong Kong, focusing on tourism and cultural projects [6] - Plans to enhance the tourism transportation business and develop the Anbala Resort project in Hainan, targeting completion by 2026 [6] - Future strategies include balancing asset allocation with core business profitability, enhancing service quality, and optimizing scenic area planning [6]
香港中旅2024年增收不增利：投资性物业公允价值下跌拖累净利骤降56％，文旅主业承压