Core Viewpoint - Shanghai Industrial Holdings (00363.HK) reported a decline in overall revenue and profit for the fiscal year 2024, primarily due to reduced revenue recognition from property handovers and a high base effect from the previous year [1] Financial Performance - Total revenue for the year was HKD 28.918 billion, a decrease of 11.6% year-on-year [1] - Shareholders' profit was HKD 2.808 billion, down 18.0% compared to the previous year [1] - The board proposed a final dividend of HKD 0.52 per share, with a total annual dividend of HKD 0.94 per share, resulting in a payout ratio of 36.4% [1] Business Segments - Infrastructure and environmental business recorded a profit of HKD 2.629 billion, an increase of 13.3% year-on-year, contributing approximately 85.1% to the group's net profit [1] - The toll road segment saw a stable increase in traffic volume and toll revenue, with a 1.3% rise in overall traffic volume and a 0.2% increase in toll revenue to HKD 2.029 billion [1] Environmental Business - Shanghai Industrial Environment Holdings reported a revenue of RMB 7.596 billion, a slight increase of 0.3%, and a profit of RMB 605 million, up 0.2% year-on-year [2] - The company added four new wastewater treatment projects with a total design capacity of 445,000 tons per day [2] Strategic Initiatives - The company sold a 23.06% stake in the Hangzhou Bay Bridge for RMB 1.864 billion, using part of the proceeds to subscribe for REIT shares, which is expected to enhance investment returns [2] - The Hangzhou Bay Bridge public infrastructure REIT successfully listed, achieving the highest subscription multiples and premiums in nearly two years [2] Future Outlook - The chairman expressed optimism about new development opportunities in 2025, driven by China's economic resilience and policy support [1] - The company plans to focus on innovation and smart transformation to elevate its business [1] Real Estate Sector - The real estate segment reported a loss of HKD 236 million, a shift from profit due to decreased revenue from property handovers [3] - The company is adopting a cautious approach in the real estate market, which is undergoing significant adjustments, and is exploring new business models such as long-term rental apartments and REITs [3] Consumer Goods Sector - The consumer goods segment contributed HKD 643 million in profit, a significant increase of 71.8% year-on-year, accounting for approximately 20.8% of the group's net profit [4] - Nanyang Brothers Tobacco Company reported revenue and net profit of HKD 2.182 billion and HKD 560 million, respectively, with year-on-year increases of 20.2% and 86.0% [4]
上海实业控股：2024年主营业务稳健发展，实现净利28.08亿港元