Financial Performance - Total revenue for 2023 reached HKD 56,982 million, a 19.2% increase compared to HKD 47,812 million in 2022[3] - Recurring business profit for 2023 was HKD 4,281 million, compared to HKD 157 million in 2022, showing significant growth[3] - Net profit attributable to shareholders was HKD 7,784 million in 2023, a 20.8% decrease from HKD 9,827 million in 2022[3] - Annual profit for 2023 was HK$8,088 million, a decrease from HK$10,141 million in 2022[10] - Total comprehensive income for 2023 was HK$6,958 million, down from HK$8,425 million in 2022[10] - The company's retained earnings as of December 31, 2023, were HK$115,688 million, compared to HK$116,228 million in 2022[18] - The company's basic earnings per share for 2023 is HKD 1.26, calculated based on a profit attributable to shareholders of HKD 7.784 billion[27] - The diluted earnings per share for 2023 is HKD 1.26, adjusted for the dilutive effect of the company's share incentive plan[27] - The basic and diluted earnings per share from core business operations for 2023 is HKD 1.03, based on a profit of HKD 6.364 billion[27] - Net profit attributable to shareholders decreased by HKD 2.043 billion or 20.8% to HKD 7.784 billion in 2023[115] - Total recurring EBIT before special loss provisions increased by HKD 5.267 billion to HKD 8.122 billion in 2023[112] - Income tax increased by HKD 941 million to HKD 1.302 billion in 2023, driven by higher recurring business profits in Hong Kong[112] - Post-tax property development profit was HKD 2.083 billion in 2023, a decrease of HKD 8.397 billion from 2022, due to the recognition of profits from three development projects in 2022[113] - Post-tax fair value measurement gains on investment properties were HKD 1.420 billion in 2023, including HKD 1.360 billion from the initial fair value measurement of THE SOUTHSIDE mall[114] Property Development - Property development profit decreased by 80.1% to HKD 2,083 million in 2023 from HKD 10,480 million in 2022[3] - The company expects to recognize property development profits from projects such as "Ocean Promenade" and "The Southside" in the coming periods[6] - The company's profit from Hong Kong property development for 2023 was HK$2,035 million, a significant decrease from HK$10,413 million in 2022[19] - The company's Hong Kong property development profit before tax was HK$2,329 million in 2023, down from HK$11,589 million in 2022[19] - The company's profit from property development attributable to shareholders was HKD 2,083 million in 2023, down from HKD 10,480 million in 2022[31] - Property development profit (after tax) decreased by HKD 8.397 billion or 80.1% to HKD 2.083 billion in 2023, mainly due to lower profits from Hong Kong property development projects[104] - Hong Kong property development recorded HK$2.035 billion in post-tax profit in 2023, mainly from initial profit booking of "The Wings at Sea" and remaining profits from completed projects[82] - As of Dec 31, 2023, sales rates for key projects: "The Southside" Phase 1 (79%), Phase 2 (89%), "The Wings at Sea" I (79%), II (24%), III (26%), "Ocean Crest" (12%), "The Pavilia Farm" IA (17%), IB (98%), IC (85%), YOHO WEST (78%)[82] Investment Properties - The company recorded a fair value gain of HKD 1,420 million for investment properties in 2023, compared to a loss of HKD 810 million in 2022[3] - Investment properties increased to HK$98,205 million in 2023 from HK$91,671 million in 2022[11] - The company recognized a fair value measurement gain of HK$1,386 million from investment properties in 2023, compared to a loss of HK$810 million in 2022[20] - The company's investment property fair value measurement gain included HK$1,360 million from initial recognition of properties developed[20] - Investment property fair value measurement profit (after tax) was HKD 1.42 billion in 2023, compared to a loss of HKD 810 million in 2022, driven by gains from the initial recognition of investment properties from property development[105] - THE SOUTHSIDE mall recorded a fair value gain of HKD 1.36 billion in 2023, with 30 tenants operational during its initial trial phase[80] Rail Operations - The High-Speed Rail (Hong Kong Section) experienced a strong recovery, contributing to the rebound in passenger numbers and related duty-free business[4] - Hong Kong rail operations revenue increased to HKD 20,131 million in 2023 from HKD 13,404 million in 2022, reflecting a recovery in passenger traffic[7] - Total passenger trips for local rail services increased to 1,586.7 million in 2023 from 1,334.6 million in 2022, with cross-border services seeing a significant rise to 71.5 million from 0.4 million[58] - High-speed rail (Hong Kong section) recorded 20.1 million passenger trips in 2023, with daily average trips at 57.3 thousand[58] - Revenue growth in 2023 driven by the resumption of cross-border services and high-speed rail (Hong Kong section) operations, with high-speed rail passenger volume surpassing 2019 levels due to increased frequency and expanded coverage to 73 mainland China stations[60] - Hong Kong's railway and bus passenger services saw a 50.2% increase in total revenue to HKD 20.131 billion in 2023, with a 76.5% reduction in EBIT loss to HKD 1.111 billion[67] - Total passenger volume for all railway and bus services increased by 24.9% to 1.8968 billion in 2023, with a 24.3% rise in average weekday passenger volume to 5.52 million[69] - The company's market share in Hong Kong's franchised public transport market increased to 50.1% in 2023, driven by the opening of the East Rail Line cross-harbour extension and the resumption of cross-border services[70] - The heavy rail network achieved over 99.9% punctuality and scheduled train performance in 2023, with seven delays exceeding 31 minutes[72] - High-speed rail services expanded to 73 mainland stations by the end of 2023, enhancing passenger connectivity[73] - The company invested HKD 1.3 billion to upgrade 2,400 automatic fare collection gates, supporting more electronic payment methods[73] - 13 new Q-trains equipped with SACEM signaling systems were deployed by December 31, 2023, with CBTC systems expected to be operational on the Tsuen Wan Line by 2025-2026[73] International Operations - The company incurred a provision of HKD 1 billion for loss-making contracts related to the early termination of Stockholm Commuter Rail and Mälartåg operations[5] - Mainland China and International Railway, Property Leasing and Management revenue slightly decreased to HKD 25,955 million in 2023 from HKD 26,016 million in 2022, with a profit contribution of HKD 524 million compared to HKD 962 million in 2022[29] - The company recognized a loss provision of HKD 700 million for the Stockholm Commuter Rail and Mälartåg regional transport in 2023[29] - MTR Express (Sweden) AB's assets of HKD 499 million and liabilities of HKD 99 million were reclassified as "held for sale" as of December 31, 2023, with the sale expected to be completed by the end of May 2024[33] - Revenue from external customers in Australia was HKD 15,972 million in 2023, slightly up from HKD 15,708 million in 2022, with designated non-current assets in Australia at HKD 900 million in 2023[35] - Revenue from external customers in Mainland China and Macau SAR was HKD 2,027 million in 2023, down from HKD 2,553 million in 2022, with designated non-current assets in the region at HKD 16,554 million in 2023[35] - Revenue from external customers in Sweden was HKD 4,809 million in 2023, down from HKD 5,232 million in 2022, with designated non-current assets in Sweden at HKD 116 million in 2023[35] - Revenue from external customers in the UK was HKD 3,212 million in 2023, up from HKD 2,733 million in 2022, with designated non-current assets in the UK at HKD 11 million in 2023[35] - The total revenue from external customers across all regions was HKD 56,982 million in 2023, up from HKD 47,812 million in 2022, with total designated non-current assets across all regions at HKD 297,793 million in 2023[35] - The company made a HKD 962 million impairment provision for Shenzhen Metro Line 4 in 2022 due to low ridership and lack of fare adjustments[93] - Hangzhou Metro Line 1 maintained a punctuality rate of over 99.9% in 2023 but continues to face financial challenges due to slow ridership growth[94] - The Macau Light Rail Transit Taipa Line, operated by the company, maintained stable operations in 2023 with the contract set to expire in 2024[94] - Elizabeth Line increased peak-hour train frequency from 22 to 24 trains per hour between Paddington and Whitechapel stations in May[95] - South Western Railway's operating contract extended to May 2025, with the UK government assuming all revenue and most cost risks[95] - MTRX sale agreement signed on February 8, 2024, with expected completion by May 2024, resulting in a non-material gain[95] - Stockholm commuter rail and Mälartåg operations terminated early, resulting in provisions of HKD 702 million and HKD 320 million respectively[95] - Melbourne rail network operating performance remained stable in 2023, with franchise extended to mid-2026[96] - Sydney Metro Northwest Line maintained high customer satisfaction, with City & Southwest Line testing underway for 2024 opening[96] - Company signed a Memorandum of Understanding with Malaysia's MRT Corporation for a TOD project near a new MRT line terminal[97] ESG and Sustainability - Carbon reduction targets for Hong Kong rail and investment property operations approved by the Science Based Targets initiative, aiming for significant greenhouse gas emission reductions by 2030 compared to 2019 levels[62] - 44 key performance indicators established for ESG goals, with 41 either completed or on track[98] - Greenhouse gas emissions reduction target approved by SBTi, aiming for a 50% reduction by 2030 compared to 2019 levels[99] - The company is implementing expert recommendations to enhance railway asset management, including increased investment in asset renewal and maintenance, and the adoption of innovative technologies[72] Dividends and Shareholder Returns - The proposed final ordinary dividend for 2023 is HKD 0.89 per share, totaling HKD 5.533 billion[25] - Final ordinary dividend of HK$0.89 per share proposed, bringing the full-year dividend to HK$1.31 per share, unchanged from 2022[63] - The company paid cash dividends of HKD 7.595 billion in 2023, representing a final dividend of HKD 0.89 per share for 2022 and an interim dividend of HKD 0.42 per share for 2023, compared to HKD 8.562 billion in 2022[125] - The company's share register will be closed from May 16 to May 22, 2024, for the annual general meeting, with share transfer documents required to be submitted by May 14, 2024, at 4:30 PM Hong Kong time[126] - The share register will also be closed from May 28 to May 31, 2024, for the proposed final dividend for 2023, with share transfer documents required to be submitted by May 27, 2024, at 4:30 PM Hong Kong time[127] Future Outlook and Challenges - The company is optimistic about the future, focusing on sustainable growth, innovation, and ESG standards[59] - Challenges in 2024 include global economic uncertainties, inflationary pressures, and high interest rates, with a focus on cost control and leveraging smart technology to improve operational efficiency[64] - Hong Kong's property development projects, including the Tung Chung East Station Phase 1 and Siu Ho Wan projects, are progressing with the first batch of residents expected to move in by 2030[65] - The company expects to recognize property development profits for projects such as "Hoi Ying Shan" (South Island Line Phase 4), South Island Line Phase 5, Ho Man Tin Station Phase 1, and "The Pavilia Farm" (Ho Man Tin Station Phase 2) in 2024[65] - New projects including the Tung Chung Line Extension, Tuen Mun South Extension, and Kwu Tung Station on the East Rail Line signed with the government in 2023, supporting long-term sustainable development[61] - International expansion continued with the opening of Beijing Metro Line 16 and Line 17 North Section in December 2023, and contract extensions for South Western Railway (UK) and Melbourne Metro (Australia)[62] Retail and Commercial Operations - Hong Kong Station Commercial revenue increased to HKD 20,131 million in 2023 from HKD 13,404 million in 2022, with a profit contribution of HKD 3,792 million compared to HKD 2,270 million in 2022[29] - Hong Kong Property Leasing and Management revenue rose to HKD 5,079 million in 2023 from HKD 4,779 million in 2022, with a profit contribution of HKD 3,999 million compared to HKD 3,800 million in 2022[29] - Retail property portfolio expanded with two new malls, adding approximately 107,620 square meters of gross floor area, increasing the total retail property portfolio by about 30%[60] - Hong Kong station commercial revenue increased by 66.3% to HKD 5.117 billion in 2023, driven by the reopening of duty-free shops[76] - Retail rental income at stations surged by 122.1% to HKD 3.429 billion in 2023, despite a 6.9% decline in new rental rates[77] - Advertising revenue rose by 17.3% to HKD 981 million in 2023, supported by economic recovery and increased mainland tourist traffic[78] - Property leasing and management revenue grew by 6.3% to HKD 5.079 billion in 2023, with new malls "The Wai" and "THE SOUTHSIDE" contributing to growth[79] - The Wai mall, with 60,620 square meters of retail space and 150 tenants, began trial operations in July 2023[80] - THE SOUTHSIDE mall recorded a fair value gain of HKD 1.36 billion in 2023, with 30 tenants operational during its initial trial phase[80] - 30% of the mall's leases by rental area will expire in 2024, 22% in 2025, 31% in 2026, and 17% in 2027 or later[81] - The mall's tenant mix by rental area is 30% F&B, 21% services, 21% fashion/beauty/accessories, 19% leisure/entertainment, and 9% department stores/supermarkets[81] Tax and Provisions - The company's total tax expense for 2023 was HK$1,575 million, slightly lower than HK$1,608 million in 2022[22] - The company incurred HK$21 million in expenses related to the cancellation of the MPF offset mechanism in 2023[17] - The company recognized a deferred tax asset and liability related to lease transactions, with no impact on the overall deferred tax balance[15] - The company disclosed estimated tax liabilities under the OECD's Pillar Two model rules, effective immediately upon issuance[16] - The company's deferred tax adjustments included HK$638 million from depreciation allowances exceeding related depreciation[22] - The company's Hong Kong profits tax provision for 2023 was calculated at a rate of 16.5%, with the first HKD 2 million of assessable profits taxed at 8.25% and the remaining at 16.5%[23] - The total tax amount related to the MTR merger payments from 2007/2008 to 2023/2024 tax years is HKD 5.1 billion[23] - The company has purchased HKD 2.3 billion in tax reserve certificates to secure a deferral of additional tax payments[23] - The company has appealed the tax assessments for the 2011/2012 to 2017/2018 tax years, with the appeal hearing held in early 2024[24] - The company made a total of HKD 1.022 billion in special loss provisions in 2023, including HKD 702 million for the early termination of the Stockholm commuter rail franchise and HKD 320 million for the Mälartåg regional traffic due to ongoing operational challenges[108] Asset and Liability Management - Total assets grew to HK$346,426 million in 2023 from HK$327,081 million in 2022[11] - Total liabilities increased to HK$167,570 million in 2023 from HK$147,169 million in 2022[11] - Net assets slightly decreased to HK$178,856 million in 2023 from HK$179,912 million in 2022[11] - The company's equity attributable to shareholders was HK$178,344 million in 2023, down from HK$179,286 million in 2022

Financial Performance - Total revenue reached HKD 27.6 billion, an increase of 19.7% compared to the previous period[2] - Regular business profit was HKD 2.4 billion, a turnaround from a loss of HKD 0.7 billion in the same period last year[2] - Net profit attributable to shareholders was HKD 4.2 billion, up 11.7% year-on-year[2] - The net profit attributable to shareholders decreased by 11.7% to HKD 4.178 billion, equivalent to earnings per share of HKD 0.67[15] - Total revenue for the first half of 2023 reached HKD 2,415 million, a 63.1% increase compared to HKD 1,481 million in the same period of 2022[43] - Total revenue for the six months ended June 30, 2023, was HKD 27,574 million, an increase of 19.8% from HKD 23,033 million in the same period of 2022[131] - The profit attributable to shareholders for the six months ended June 30, 2023, was HKD 4,178 million, a decrease of 11.6% compared to HKD 4,732 million in the same period of 2022[132] Property Development - Property development profit increased by 90.6% to HKD 0.7 billion[2] - The property development segment achieved a profit of HKD 732 million, contributing to a total basic profit of HKD 3.152 billion, a decrease of 55.7% year-on-year[15] - The profit from property development in Hong Kong for the six months ended June 30, 2023, was HKD 712 million, down from HKD 7.747 billion in 2022, reflecting a significant decrease in property development profits[145] Investment Properties - Fair value measurement gains from investment properties amounted to HKD 1 billion, compared to a loss of HKD 2.4 billion in the previous period[2] - The company reported a loss from investment property fair value measurement of HKD 1,005 million, recovering from a loss of HKD 2,389 million in the previous year[131] - The fair value measurement gains from investment properties for the six months ended June 30, 2023, were HKD 1.005 billion, compared to losses of HKD 2.389 billion in 2022[146] Operational Highlights - The company is focused on expanding its core business in Hong Kong and developing new growth engines in mainland China and international markets[4] - In the first half of 2023, the company recorded a passenger volume recovery to over 90% of pre-pandemic levels, aided by new railway lines[14] - The company plans to invest over HKD 65 billion in railway asset renewal and maintenance over the next five years[14] - The company is actively pursuing opportunities in mainland China and international markets, with successful extensions of operating rights in Melbourne and the UK[14] Challenges and Risks - The company continues to face challenges from high inflation and rising interest rates, impacting its operational environment[12] - The company remains cautious about macroeconomic factors that could impact operations, including inflation and interest rates[30] Sustainability Initiatives - The company has set 44 key performance indicators to enhance its efforts in reducing greenhouse gas emissions, social inclusion, and development opportunities[17] - By 2030, the company aims to reduce greenhouse gas emissions per passenger kilometer by 46.2% compared to 2019 levels, and emissions per square meter of investment property by 58.6%[18] - The company is committed to achieving carbon neutrality by 2050, with science-based targets approved by the SBTi[18] Employee and Governance - The company achieved a 25% female board member ratio in May 2023, surpassing its 2025 target[22] - The company has received four "Employee Experience Awards" for its efforts in fostering a culture of continuous learning and employee training[21] - The company is committed to promoting workplace diversity, equality, and inclusion, with initiatives such as the "Gender Equality Network" launched in March 2023[72] Market Share and Competition - MTR's overall market share in Hong Kong's public transport sector increased to 49.6% in the first five months of 2023, up from 47.2% in the same period of 2022[36] - The market share for cross-boundary transport services rose to 53.5% in the first five months of 2023, compared to 0.0% in the same period last year due to service suspensions[36] Future Projects - The company is actively pursuing the Tung Chung Line extension project, which is expected to be completed by 2029, enhancing transportation connectivity and supporting sustainable population growth[26] - The East Rail Line extension project is expected to be completed by 2029, enhancing transportation efficiency for the Tung Chung residents[54] - The company has 14 new residential property projects underway, providing approximately 16,000 units to the Hong Kong residential market in the near to medium term[57] Financial Position - Total assets increased by 4.5% to HKD 341.7 billion compared to December 31, 2022[2] - The net debt-to-equity ratio improved by 1.0 percentage point to 22.3% compared to December 31, 2022[2] - Total liabilities rose by 11.5% to HKD 164.065 billion, mainly due to the accrual of the 2022 final dividend and net loan drawdowns[90] Shareholder Information - The company declared an interim ordinary dividend remained stable at HKD 0.42 per share, unchanged from the previous year[2] - The company will see a change in its financial director, with the new appointee starting on January 1, 2024[107] - The company has established a whistleblowing policy to encourage reporting of misconduct in a safe and confidential manner[102]

Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 27,574 million, representing a 19.7% increase from HKD 23,033 million in the same period of 2022[3] - Regular business profit for the same period was HKD 2,420 million, a significant recovery from a loss of HKD 678 million in the previous year[3] - The profit for the six months ended June 30, 2023, was HKD 4,353 million, a decrease of 11.6% compared to HKD 4,928 million for the same period in 2022[10] - Total comprehensive income for the period was HKD 3,586 million, down from HKD 4,260 million year-on-year, reflecting a decline of 15.8%[10] - The profit attributable to shareholders was HKD 4.178 billion, a decrease of 11.7% from HKD 4.732 billion in the previous year[99] - The profit from property development (after tax) in Hong Kong was HKD 712 million, a significant decrease of 90.8% compared to HKD 7.747 billion in the previous year[99] - The profit from fair value measurement of investment properties for the six months ended June 30, 2023, was HKD 1.026 billion, a recovery from a loss of HKD 2.376 billion in 2022[26] - The company reported a decrease in other comprehensive income, with a loss of HKD 767 million compared to a loss of HKD 668 million in the previous year[10] Dividends - The company declared an interim ordinary dividend of HKD 0.42 per share, with an option for scrip dividend[3] - The interim ordinary dividend declared was HKD 2,610 million, slightly up from HKD 2,604 million in 2022, with an interim dividend per share of HKD 0.42[21] - The final ordinary dividend for the previous year was HKD 5,520 million, down from HKD 6,317 million in 2022, with a decrease in dividend per share from HKD 1.02 to HKD 0.89[21] Revenue Sources - The Hong Kong railway operations revenue increased to HKD 9,342 million from HKD 5,815 million year-on-year[7] - Revenue from Hong Kong passenger services increased to HKD 11.757 billion for the six months ended June 30, 2023, compared to HKD 7.296 billion in 2022, with a profit contribution of HKD 1.024 billion[25] - Revenue from the Hong Kong station business reached HKD 2.415 billion, up from HKD 1.481 billion in 2022, with a profit contribution of HKD 1.798 billion[25] - Revenue from property leasing and management in Hong Kong was HKD 2.456 billion, compared to HKD 2.307 billion in 2022, with a profit contribution of HKD 1.990 billion[25] - Revenue from international and mainland China railway and property leasing and management was HKD 13.079 billion, slightly down from HKD 13.150 billion in 2022, with a profit contribution of HKD 290 million[25] - Revenue from other businesses was HKD 282 million, up from HKD 142 million in 2022, with a profit contribution of HKD 10 million[25] Investment and Development - The company is investing over HKD 65 billion in railway asset renewal and maintenance over the next five years[4] - The new shopping mall "Wai Fong" opened in July 2023, contributing to the company's property development strategy[4] - The company expects to tender approximately 4,000 units in the next 12 months, depending on market conditions[6] - The estimated project cost for the Hong Kong section of the high-speed rail has been revised to HKD 84.42 billion, which includes an increase of HKD 19.42 billion due to project delays[29] - The company is involved in multiple major projects under the Railway Development Strategy 2014, including the Tuen Mun South Extension and the new Kwu Tung station, with completion dates ranging from 2027 to 2030[77] Financial Position - Cash and bank balances increased to HKD 23,956 million as of June 30, 2023, compared to HKD 16,134 million at the end of 2022, representing a growth of 48.5%[11] - The company's total assets amounted to HKD 341,726 million, up from HKD 327,081 million at the end of 2022, indicating a rise of 4.5%[11] - The company's liabilities increased to HKD 164,065 million from HKD 147,169 million, marking an increase of 11.5%[11] - The company’s equity attributable to shareholders decreased to HKD 177,149 million from HKD 179,286 million, a decline of 1.2%[11] Market Outlook - The company remains cautiously optimistic about its business outlook, considering global inflation and high interest rates as potential uncertainties[6] - Future outlook remains cautious due to market conditions, with no specific guidance provided for the upcoming quarters[12] - The company anticipates that rising interest rates may impact the valuation of its investment property portfolio[58] Operational Performance - Total passenger numbers for local railway services reached 777.2 million, up from 570.5 million in the same period last year, representing a 36.3% increase[49] - Average daily passenger numbers for cross-border services increased to 155.1 thousand, compared to just 1.2 thousand in the previous year[49] - The railway service punctuality rate reached 99.9%, exceeding operational agreement requirements, with only five delays of 31 minutes or more attributed to controllable factors[64] Corporate Governance and Social Responsibility - The company aims to achieve a 25% female board member ratio by 2025, enhancing governance standards and ensuring ethical business practices[96] - MTR has set 44 key performance indicators for 2023 to measure progress in reducing greenhouse gas emissions and promoting social inclusion[93] - The company is committed to enhancing local community connectivity with nearby Greater Bay Area cities through its infrastructure projects[75] Challenges and Risks - The company has not reported any significant new product launches or technological advancements during this period[12] - The company continues to negotiate with the Hong Kong government regarding the Hung Hom incident, with no claims received as of the mid-year financial report date[39] - The international business reported a regular loss of HKD 32 million, mainly due to operational challenges faced by the Stockholm Commuter Railway and Mälartåg[82]

Passenger Volume and Services - Total passenger volume exceeded 1.5 billion trips with a punctuality rate of 99.9%[13] - Total passenger numbers for local railway services decreased to 1,334.6 million in 2022, down 6.1% from 1,421.7 million in 2021[38] - The average daily passenger volume on Sundays decreased by 6.3% to 4.45 million in 2022[85] - The Airport Express saw a passenger volume of 3.1 million, an increase of 44.2% compared to 2021, due to the gradual easing of international travel restrictions[193] - The overall market share in Hong Kong's public transport sector increased from 47.3% in 2021 to 48.3% in 2022[195] Financial Performance - Total revenue for 2022 reached HKD 47,812 million, a 1.3% increase from HKD 47,202 million in 2021[33] - EBITDA for the year was HKD 19,500 million, reflecting a 1.3% growth compared to HKD 19,245 million in the previous year[33] - The company's net profit attributable to shareholders was HKD 9,827 million, up 2.9% from HKD 9,552 million in 2021[33] - Regular business profit decreased by 91.3% to HKD 157 million, primarily due to a HKD 962 million impairment loss related to the Shenzhen Metro Line 4[138] - The profit from mainland China and international railway, property leasing, and management subsidiaries rose by 54.7% to HKD 962 million[132] Property Development - New property development projects, including "The Wai" mall and "THE SOUTHSIDE" mall, are expected to open in 2023[15] - The company is advancing 14 residential property projects and has received approval for the Tuen Mun South Extension and Kwu Tung Station[15] - The property development profit (after tax) increased by 12.2% to HKD 10.48 billion, driven by three major development projects in Hong Kong[132] - The property development segment performed well, with the completion of land exchange documents for the new Siu Ho Wan project, expected to provide approximately 10,720 private residential units[77] - The company has 14 new residential property projects underway, expected to provide approximately 16,000 units to the Hong Kong residential market in the near term[115] Technology and Innovation - Investment in new technologies and travel services aims to solidify core business and achieve long-term growth[15] - The launch of the "Care Ride" mobile app enhances seamless travel experiences for passengers with special needs[18] - The company is exploring Web3 scenarios to connect with customers through new digital methods[19] - The company has established partnerships with multiple academic institutions to jointly develop innovative smart technologies[19] - The company is collaborating with Alibaba Cloud to develop an AI-driven remote monitoring and alert detection platform to improve railway maintenance and operations[93] Environmental and Social Responsibility - The company is committed to environmental, social, and governance (ESG) initiatives, providing support to suppliers and communities during the pandemic[18] - Over 25% of mall dining tenants participated in the food waste reduction program, reflecting the company's commitment to sustainability[26] - The company aims to achieve carbon neutrality by 2050 and has set science-based carbon reduction targets for 2030[65] - The company has established 10 commitments and 35 key performance indicators to support its environmental, social, and governance (ESG) strategies[167] - The company is focused on sustainable development and environmental protection while providing world-class passenger services[188] Challenges and Future Outlook - The company faced significant challenges in 2022 due to the fifth wave of COVID-19, impacting passenger volume and foot traffic in malls[56] - Future outlook includes continued focus on expanding operations in Hong Kong and mainland China, with strategic investments planned in new technologies and market segments[33] - The company is exploring further opportunities to expand its railway network in Hong Kong, mainland China, and globally[56] - The lifting of travel restrictions at the end of 2022 marked a positive turning point for the company's operations and the Hong Kong economy[56] - The company is preparing to collaborate with the government on future transport infrastructure developments to enhance connectivity with the Greater Bay Area and mainland China[188] Investor Relations and Communication - The company held approximately 100 meetings with investors to provide updates on various business operations[18] - The company will maintain regular communication with investors through various channels, including physical meetings and roadshows[19] - The next employee engagement survey is scheduled for Q4 2023, following the communication of the previous survey results in February 2023[19] - The company continues to optimize its supplier list to manage suppliers efficiently and effectively[19] - The company is committed to updating its social and environmental participation strategies to meet the needs of different communities[19]

Financial Performance - Total revenue for the first half of 2022 was HKD 23 billion, representing a 3.2% increase compared to the previous period[2]. - The company reported a recurring business loss of HKD 700 million, a decline from a recurring profit of HKD 900 million for the same period in 2021[2]. - Net profit attributable to shareholders was HKD 4.7 billion, reflecting a 77.0% increase[2]. - The profit from property development business increased by 78.0% year-on-year to HKD 7.108 billion, while the net profit attributable to shareholders grew by 77.0% to HKD 4.732 billion, equivalent to earnings per share of HKD 0.76[21]. - The company reported a profit of HKD 4,928 million for the period, up 77.1% from HKD 2,782 million in the previous year[111]. - The company’s net profit attributable to shareholders was HKD 4,732 million, a 77.0% increase from HKD 2,673 million year-on-year[111]. - The company’s regular business reported a loss of HKD 678 million, contrasting with a profit of HKD 912 million in the previous year[111]. - The company incurred a loss from fair value measurement of investment properties amounting to HKD 2,389 million, compared to a loss of HKD 1,307 million in the previous year[148]. Dividends and Shareholder Returns - Interim ordinary dividend per share was HKD 0.42, up from HKD 0.25 in 2021[2]. - The interim dividend declared was HKD 0.42 per share, compared to HKD 0.25 per share in the same period last year[21]. - The company declared an interim dividend of HKD 6,317 million for the year ended December 31, 2021, which was paid out during the reporting period[152]. Property Development - Property development profit amounted to HKD 7.8 billion[2]. - The company recorded a profit of HKD 7.747 billion from property development after tax in the first half of 2022, mainly from the 10th phase of "Sunrise" and the first and second phases of "South Island"[55]. - The profit from property development attributable to the company was HKD 9,161 million for the six months ended June 30, 2022, compared to HKD 3,635 million for the same period in 2021, representing an increase of 152%[164]. Operational Highlights - The East Rail Line cross-harbour section officially commenced service in May 2022, marking the completion of the long-awaited Sha Tin to Central Link project[18]. - The company achieved a train service punctuality rate of 99.9% in its heavy rail network during the first half of the year[31]. - The company has ordered 93 new eight-car heavy rail trains and 40 new light rail vehicles, with 13 heavy rail trains and 22 light rail vehicles already delivered as of June 30, 2022[45]. - The company maintained a market share of 47.2% in the public transport sector in Hong Kong for the first five months of 2022, up from 46.2% in the same period of 2021[39]. Challenges and Risks - The ongoing global supply chain disruptions and inflationary pressures have posed significant challenges to the macroeconomic environment[16]. - The company faced significant external challenges, including rising global inflation and supply chain disruptions, impacting future business outlook[29]. - The company anticipates that rental income from station businesses and properties will continue to be affected by declining new rents and rent concessions for the next six months[108]. Sustainability and Governance - The company is committed to achieving carbon neutrality by 2050 and has set a science-based target for reducing emissions by 2030[23]. - The company aims to drive sustainable development in the communities where it operates through its long-term environmental, social, and governance strategies[17]. - The company is committed to maintaining a minimum of 20% female representation on its board immediately, aiming for 25% by 2025[25]. - The company has established a joint laboratory with Hong Kong University of Science and Technology to research smart community and smart travel solutions[106]. Infrastructure and Expansion - The company continues to push forward with new railway projects to enhance local transportation links and promote economic growth[29]. - The company is actively exploring collaboration opportunities through its new subsidiary, MTR Lab Company Limited, to drive smart and sustainable urban development[31]. - The company is expanding its property portfolio with new shopping malls, including "The Wai" at Tai Wai Station, set to open in mid-2023, and "THE SOUTHSIDE" at Wong Chuk Hang Station, expected in the second half of 2023, adding approximately 107,620 square meters of total floor area, which represents 30% of the current retail property portfolio[63]. Financial Position - Total assets reached HKD 292.3 billion, a slight increase of 0.1% compared to December 31, 2021[2]. - The total debt decreased by 10.2% to HKD 39.29 billion, while the weighted average cost of borrowings remained stable at 2.2%[92]. - The net debt to equity ratio improved to 12.7%, down from 18.1% as of December 31, 2021[93]. - The company’s total equity attributable to shareholders was HKD 180,037 million, an increase from HKD 176,981 million as of December 31, 2021, reflecting a growth of approximately 1.2%[152]. Employee Engagement and Training - The company provided an average of 2.4 days of training per employee in Hong Kong during the first half of the year[105]. - The employee engagement survey conducted in December 2021 had a participation rate of 79%[105]. - As of June 30, 2022, the company employed 16,848 and 15,229 staff in Hong Kong and outside Hong Kong, respectively, with a voluntary turnover rate of 6.6% among Hong Kong employees[104].

股份代號：66 2021年報 目錄 歡迎閱覽港鐵2021年報，本報告詳述儘管面對全球疫情帶 來的持續營運及經濟挑戰，公司仍致力讓城市前行，為股 東創優增值。年內，我們亦圍繞企業責任、環境管理和管 治以及創新求變、技術進步和業務拓展的原則，在持續轉 型、鞏固及重塑組織方面取得長足進展，令港鐵繼續成為 安全可靠及環保的集體運輸的全球領導者。 2021年報 2021年可持續 發展報告 此外，我們誠邀您細閱我們的《2021年可持續發展報告》， 該報告闡述我們致力在營運中納入相關及重要的可持續發 展措施。 我們希望這些報告能讓您清楚了解我們的業務活動、業績 及未來策略，以實現港鐵及社區的互惠發展。在股東及持 份者的鼎力支持下，我們將一如既往不負重託，實現卓越 表現，延展動力，創建未來。 2 4 6 8 9 10 12 14 18 概覽 行政總裁回顧及展望 | --- | |--------------------| | | | 摘要 | | 企業策略進展及計劃 | | 聯繫持份者 | | 三個社會及環境目標 | | 主要獎項 | 主要數據 我們的網絡 主席函件 業務回顧與分析 | --- | --- | --- | | ...