截至2025年5月30日收盘，山金国际（000975）报收于19.69元，较上周的20.54元下跌4.14%。本周，山金国际5月26日盘中最高价报20.9元。5月29 日盘中最低价报19.32元。山金国际当前最新总市值546.74亿元，在贵金属板块市值排名3/11，在两市A股市值排名246/5146。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 公司公告汇总：全资子公司间调剂担保额度，Osino Gold Exploration and Mining(Pty) Ltd.的200000万元担保额度全部调整至Osino Mining Investments Limited。 公司公告汇总：新增对Sino Gold Tenya（HK） Limited的担保，金额为21562.80万元。 本周关注点 公司公告汇总 山金国际黄金股份有限公司发布公告，全资子公司之间调剂担保额度及担保进展。公司于2024年12月19日和2025年1月15日召开董事会及监事会会 议，并在2025年第一次临时股东大会上审议通过为子公司提供担保额度预计的议案，预计担 ...

金银价走高+克金成本下降，公司业绩顺利释放2024 年公司营收136 亿元，同比+68%；归母21.7 亿元， 同比+53%。其中： （1）矿产金收入44 亿元，同比+34%；毛利率74%，同比+13pct；产量8.04吨，同比+15%；销量8.05 吨，同比+10%；售价550 元/克，同比+22%；克金销售成本145 元/克，同比-18%。 （2）矿产银收入9.9 亿元，同比+10%；毛利率52%，同比+3pct；产量196吨，同比+1.6%；销量176 吨，同比-9.6%；库存33 吨，同比+156%；售价5.6 元/克（税后），同比+22%；克银销售成本2.67 元/ 克，同比+14%。 25Q1 公司营收43 亿元，同比+56%，环比+185%；归母6.9 亿元，同比+38%，环比+56%。其中： （1）矿产金收入13 亿元，同比+20%；毛利率78%，同比+10pct；产量1.8吨，同比-11%；销量2 吨，同 比-11%；售价659 元/克，同比+35%；克金销售成本148 元/克，同比-5%。 （2）矿产银收入1.5 亿元，同比+7%；毛利率62%，同比+23pct；产量22吨，同比+6%；销 ...

股份代號 ： 9 7 股份代號 ： 9 7 2024 年 年 報 2024 年 年 報 OUTPUT時請關閉PREVIEW圖層 OUTPUT時請關閉PREVIEW圖層 公司簡介 公司簡介 恒基兆業發展有限公司自一九七二年在香港上市，現為本港具領導地位之 地產發展集團 — 恒基兆業地產有限公司 — 之附屬公司。本公司現於香港 經營百貨公司、實用家品專賣店以及超級市場業務。 恒基兆業發展有限公司自一九七二年在香港上市，現為本港具領導地位之 地產發展集團 — 恒基兆業地產有限公司 — 之附屬公司。本公司現於香港 經營百貨公司、實用家品專賣店以及超級市場業務。 目錄 前瞻性陳述 本年報載有若干陳述帶有前瞻性或使用類似前瞻性詞彙。該等前瞻性陳述乃本公司董事局根據所經 營的業內及市場現況而作出之目前信念、假設及期望，並且會因為風險、不明朗因素及其他非本公 司所能控制之因素而可能令實際結果或業績與該等前瞻性陳述所表示或暗示之情況有重大差別。 封面內頁 公司簡介 4 集團架構 5 董事局主席報告 12 企業文化、業務模式和策略方向 14 財務回顧 17 五年財務摘要 18 可持續發展 47 企業管治報告 69 董事局報告 8 ...

国际化战略完成重要一步。2024 年8 月公司成功完成Osino100%股权收购，实现海外项目零的突破，为 公司新增127.2 吨黄金资源量，预计投产后年产5吨黄金，显著提升公司资产规模和盈利潜力。 维持"强烈推荐"投资评级。考虑金价持续上行，我们上调盈利预测，预计2025-27 年归母净利润 29/31/43 亿元，对应市盈率19/18/12 倍，维持"强烈推荐"投资评级。 风险提示：贵金属价格下行、投产项目进度不达预期、公司矿山或同业事故性风险、地缘政治风险、汇 兑风险等。 公司发布2024 年年报：公司2024 年实现营业收入 135.9 亿元，同比+ 67.6%；实现归母净利润21.7 亿 元，同比+52.6%，实现扣非归母净利润22.1 亿元，同比+56.9%。24Q4 实现营业收入15.1 亿元，同比/ 环比分别+50%/-72.8%，实现归母净利润4.5 亿元，同比/环比分别+45.7%/-31.7%，实现扣非归母净利润 为4.3 亿元，同比/环比分别+32.1%/-35.3%。 矿山金产销量小幅提升，吉林板庙子和青海大柴旦增量明显，2025 年预计产量持稳。公司2024 年矿产 金产销量分别为 ...

Financial Performance - The company's net loss attributable to shareholders for the year ended December 31, 2024, was HKD 125 million, compared to a loss of HKD 72 million in the previous year, representing an increase in loss of approximately 74%[2] - The company reported a post-tax loss of HKD 96 million for the year ending December 31, 2024, compared to a loss of HKD 120 million in 2023[16] - The consolidated post-tax loss for the group was HKD 1.116 billion for the year ending December 31, 2024, up from HKD 620 million in 2023[17] - The company reported a basic and diluted loss per share of HKD 4.1 for the year ending December 31, 2024, compared to HKD 2.4 in 2023[25] - Pre-tax loss for the year was HKD 125 million, compared to a loss of HKD 72 million in 2023, indicating a deterioration in performance[54] Revenue and Sales - The total sales revenue for self-operated products decreased by 10% to HKD 287 million, with a gross margin of 31%, down from 34% in the previous year[10][11] - The total sales amount from consignment and franchised counters decreased by 12% to HKD 1,358 million, with commission income falling to HKD 308 million, also down 12% year-on-year[9][12] - Total revenue for the year 2024 was HKD 1,535 million, a decrease of 1% from HKD 1,551 million in 2023[50] - Sales revenue increased to HKD 1,151 million in 2024 from HKD 1,118 million in 2023, representing a growth of 3%[42] Assets and Liabilities - The company's net asset value as of December 31, 2024, was HKD 1.053 billion, or HKD 0.35 per share, compared to HKD 1.173 billion or HKD 0.38 per share in the previous year[2] - The total assets less current liabilities amounted to HKD 1.645 billion as of December 31, 2024, down from HKD 1.866 billion in 2023[29] - Total liabilities for lease obligations decreased to HKD 666 million in 2024 from HKD 924 million in 2023[79] - The group had no bank borrowings other than lease liabilities amounting to HKD 666,000,000 as of December 31, 2024, compared to HKD 924,000,000 in 2023[91] Operational Efficiency - The company is focusing on improving operational efficiency by consolidating the operations of Citistore and Unicorn[6] - The company plans to optimize its store network and expand its membership loyalty program to enhance customer engagement[20] Employee and Costs - The company’s employee costs, excluding director remuneration, decreased to HKD 256 million in 2024 from HKD 276 million in 2023[47] - The total employee cost for the year ending December 31, 2024, was HKD 257,000,000, down from HKD 277,000,000 in 2023[98] - The group had 866 full-time employees as of December 31, 2024, a decrease from 962 in 2023[98] Goodwill and Impairment - The goodwill for Citistore is valued at HKD 810 million, and for Unicorn at HKD 262 million, totaling HKD 1,072 million as of December 31, 2024[60] - The board assessed that there is no impairment loss for Citistore goodwill as of December 31, 2024, with recoverable amount exceeding the carrying value[64] - The board has determined that there is no impairment loss for Unicorn goodwill as of December 31, 2024[70] - Sensitivity analysis indicates potential impairment losses for Citistore goodwill could be HKD 19 million, HKD 82 million, and HKD 183 million under various scenarios[65] Compliance and Reporting - The company is committed to compliance with the Hong Kong Financial Reporting Standards and relevant regulations[32] - The company’s financial statements are prepared on a going concern basis, indicating confidence in its operational sustainability[34] - The company’s auditors issued unqualified opinions on the financial statements for both years, indicating no significant issues were raised[33] Dividends - The company did not recommend a final dividend for the year due to the recorded loss[3] - The company did not declare any interim or final dividends for the year 2024, consistent with 2023[53]

HENDERSON INVESTMENT LIMITED 恒 基 兆 紫 發 展 有 限 公 司 Stock Code 股份代號：97 Interim Report 中期報告 0 02 24) 目錄 38 董事局主席報告 38 中期業績及股息 38 業務回顧 42 集團財務 42 展望 43 財務回顧 46 獨立核數師審閱報告 簡明中期財務報表 47 綜合損益表 48 綜合損益及其他全面收益表 49 綜合財務狀況表 50 綜合權益變動表 51 簡明綜合現金流量表 67 其他資料 52 簡明中期財務報表（未經審核）附註 69 披露權益資料 37 2024中期報告 恒基兆業發展有限公司 董事局主席報告 中期業績及股息 集團截至二零二四年六月三十日止六個月，股東應佔（未經審核）虧損為港幣六千九百萬元，對比去年同期 錄得虧損港幣一千八百萬元。虧損主要是由於出境旅遊、以及跨境消費及購物熱潮導致集團零售額下降所致。 每股虧損為港幣2.3仙（二零二三年：港幣0.6仙）。 由於期內錄得虧損，董事局宣佈不派發中期股息（二零二三年：無）。 業務回顧 期內，出境旅遊、以及跨境消費及購物增加，繼續對本港零售業構成壓力。而去年同期則有 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 HENDERSON INVESTMENT LIMITED 恒 寶 兆 業 發 萬 有 限 公 司 於香港註冊成立方限公司 (股份代號 : 87 二零二四年中期業績公佈 董事局主席報告 中期業績及股息 集團截至二零二四年六月三十日止六個月，股東應佔(未經審核)虧損為港幣六千 九百萬元，對比去年同期錄得虧損港幣一千八百萬元。虧損主要是由於出境旅遊、 以及跨境消費及購物熱潮導致集團零售額下降所致。每股虧損為港幣2.3仙 (二零 二三年：港幣0.６仙)。 由於期內錄得虧損，董事局宣佈不派發中期股息(二零二三年：無)。 1 業務回顧 期內，出境旅遊、以及跨境消費及購物增加，繼續對本港零售業構成壓力。而去年同 期則有消費劵計劃推動本地消費。據政府統計處資料顯示，本港零售業整體總銷貨價 值於二零二四年上半年較去年同期下跌達 6.6%。 集團業務主要透過以下兩家全資附屬公司營運： (i) Citistore (Hong ...

Financial Performance - The group reported a pre-tax operating loss of HKD 51 million for the year ended December 31, 2023, compared to a pre-tax operating profit of HKD 46 million in 2022[20]. - The company reported a net loss attributable to shareholders of HKD 72 million for the year ended December 31, 2023, compared to a profit of HKD 5 million in 2022[51]. - Total sales revenue for Unicorn decreased by 16% year-on-year to HKD 1,121 million in the fiscal year ending December 31, 2023, down from HKD 1,334 million in 2022[128]. - The total after-tax loss for Unicorn was HKD 120 million for the fiscal year ending December 31, 2023, compared to a loss of HKD 63 million in 2022[129]. - Total sales for the year ended December 31, 2023, remained flat at HKD 1.542 billion, with self-operated product sales decreasing by 11% to HKD 319 million[149]. Cash and Assets - Total cash and bank balances decreased by HKD 175 million or 67% to HKD 85 million as of December 31, 2023, primarily due to cash outflows from various activities[22]. - The group has no bank borrowings as of December 31, 2023, maintaining a lease liability of HKD 924 million[22]. - As of December 31, 2023, the group had no bank borrowings and a net cash balance of HKD 85 million, down from HKD 260 million in 2022[132]. Employee and Workforce - The total employee cost for the year was HKD 277 million, slightly up from HKD 274 million in 2022, with a total of 962 full-time employees and 115 part-time employees as of December 31, 2023[25]. - Total employees decreased from 1,298 in 2022 to 1,086 in 2023, a reduction of approximately 16.3%[160]. - Employee turnover rate increased significantly, with male turnover rising from 34% in 2022 to 50% in 2023, and female turnover increasing from 36% to 53%[160]. - The average training hours for male employees increased from 2.2 hours in 2022 to 3.5 hours in 2023, while female training hours remained relatively stable at 2.2 hours[162]. - The number of full-time employees decreased from 1,039 in 2022 to 971 in 2023, a decrease of approximately 6.5%[160]. Sustainability and Environmental Impact - The company aims to reduce carbon intensity by 15% per square foot of retail space by 2030 compared to the 2023 baseline[45]. - The total greenhouse gas emissions for the group decreased to 9,631 tons of CO2 equivalent in 2023 from 9,897 tons in 2022, representing a reduction of approximately 2.7%[124]. - The total waste generated by the group decreased to 250,678 kg in 2023 from 354,502 kg in 2022, a reduction of approximately 29.3%[124]. - The number of plastic shopping bags used decreased significantly to 1,341,159 in 2023 from 6,954,889 in 2022, reflecting a reduction of approximately 80.7%[124][125]. - The company is committed to improving energy and fuel efficiency throughout its operations to reduce its carbon footprint[42]. Customer Engagement and Satisfaction - The group aims to enhance customer satisfaction through regular feedback and improvements in products and services[35]. - The group plans to expand its membership base and enhance customer relationship management (CRM) to better understand customer needs and drive promotional activities[134]. - The CU APP membership program has grown to over 600,000 members, contributing significantly to the group's revenue[137]. Corporate Governance - The company emphasizes the importance of good corporate governance practices and procedures[200]. - As of December 31, 2023, the company has complied with the applicable code provisions of the Corporate Governance Code under the Hong Kong Stock Exchange Listing Rules[200]. - The company has not distinguished the roles of the Chairman and CEO, believing that Dr. Li Ka-shing's dual role serves the best interests of the company[200]. - All significant decisions are made after consulting board members with relevant knowledge and expertise, ensuring that power is not overly concentrated[200]. - The current governance arrangements are still subject to appropriate checks and balances despite the lack of role distinction[200]. Operational Improvements - The group completed the renovation of the APITA supermarket and department store in Taikoo City, Hong Kong, contributing to operational improvements[24]. - The renovation of APITA, covering over 40,000 square feet, was completed in Q4 2023, introducing a new supermarket and premium meat offerings, including certified Angus beef[199]. - The integration of Citistore and Unicorn's online shopping platforms into the "CU APP" has been completed, enhancing operational efficiency and customer experience for 600,000 members[176]. Risk Management and Compliance - The company conducts regular reviews of risk management plans related to typhoon impacts[43]. - The company has implemented measures to protect sensitive information and prevent cyber threats, including comprehensive training for all employees[70]. - The company has not violated any relevant environmental laws and regulations during the reporting period[73].

Financial Performance - Total sales for the year ending December 31, 2023, remained stable at HKD 1,542 million, compared to HKD 1,786 million in 2022, reflecting a decrease of approximately 13.6%[5][27] - Revenue from self-operated products was HKD 319 million, down from HKD 359 million in the previous year, representing a decline of 11.1%[6][27] - The company reported a net loss attributable to shareholders of HKD 72 million for the year ended December 31, 2023, compared to a profit of HKD 5 million in 2022[80] - Total revenue for the year was HKD 1,551 million, a decrease from HKD 1,786 million in the previous year, representing a decline of approximately 13.1%[182] - Sales revenue decreased to HKD 1,118 million in 2023 from HKD 1,359 million in 2022, representing a decline of 17.7%[195] - The group reported a post-tax loss of HKD 120 million for the year, compared to a loss of HKD 63 million in 2022[154] Operational Performance - The operating loss before tax for the year was HKD 81 million, compared to a profit of HKD 16 million in 2022, indicating a significant downturn in operational performance[27] - The company has optimized its product mix, focusing on travel goods, apparel, and cosmetics to meet changing market demands[5] - The company continues to enhance collaboration with suppliers and implement various promotional activities to improve overall operational performance[5] - The integration of Citistore and Unicorn's operations aims to enhance operational synergy and efficiency, with a unified online shopping platform launched[157] Cash Flow and Liquidity - Cash and bank balances decreased by HKD 175 million or 67% to HKD 85 million as of December 31, 2023, primarily due to cash outflows from various activities[103] - The company had no bank borrowings as of December 31, 2023, and had fully repaid its bank loans[82] - The total liabilities increased to HKD 1,362 million in 2023 from HKD 1,203 million in 2022, primarily due to an increase in lease liabilities[184] Employee and Cost Management - Employee costs (excluding directors' remuneration) increased slightly to HKD 264 million from HKD 261 million[24] - The group had a total of 962 full-time employees and 115 part-time employees as of December 31, 2023, with total employee costs amounting to HKD 277 million, reflecting a slight increase from HKD 274 million in the previous year[108] Impairment and Asset Valuation - The impairment assessment for Citistore was based on the use value of cash-generating units, with future net cash inflows projected for the next five budget years, ending December 31, 2028, reflecting a discount cash flow model[35] - If total sales revenue decreases by 3% or gross margin decreases by 1.5% over the next five budget years, potential impairment losses for Citistore goodwill could be estimated at HKD 33 million and HKD 156 million respectively[37] - The impairment assessment for Unicorn was similarly based on the use value of cash-generating units, with future net cash inflows projected for the same five-year period[39] - If total sales revenue decreases by 3% or gross margin decreases by 1.5% over the next five budget years, potential impairment losses for Unicorn goodwill could be estimated at HKD 25 million[41] Lease Liabilities and Financing Costs - Lease liabilities increased to HKD 924 million as of December 31, 2023, up from HKD 745 million in 2022, representing a growth of approximately 24%[66] - The financing cost of lease liabilities for the year was HKD 34 million, down from HKD 41 million in the previous year, reflecting a decrease of approximately 17%[66] - The company’s total liabilities related to leases due within one year increased to HKD 255 million in 2023 from HKD 228 million in 2022, a rise of about 12%[66] Market Conditions and Sales Trends - The overall retail market in Hong Kong showed a decline, with supermarket sales value dropping by 7.1% year-on-year, influenced by increased outbound travel and cross-border shopping[137] - Total sales for Unicorn, including self-operated goods and consignment counters, decreased by 16% year-on-year, with specific sales figures showing a decline in self-operated goods sales to HKD 799 million (down 20%) and consignment sales to HKD 322 million (down 4%) for the year ended December 31, 2023[120][133] Governance and Compliance - The group has complied with the corporate governance code as per the Hong Kong Stock Exchange Listing Rules, although there is no distinction between the roles of the chairman and CEO[114] - The company confirmed that all directors have fully complied with the standards set out in the code for securities trading by directors[117] - The group has no contingent liabilities as of December 31, 2023[107] Future Outlook - The company plans for an average annual sales revenue growth of 11% over the next five budget years[66] - The average gross margin is expected to increase by 0.6 percentage points annually over the next five budget years[66] - The company plans to expand its membership base and enhance customer relationship management (CRM) to better understand customer needs and increase spending[180]

Financial Performance - The company reported a loss of HKD 18 million for the six months ended June 30, 2023, compared to a profit of HKD 24 million in the same period last year[6]. - Total income for the period was HKD 8 million, an increase from HKD 6 million year-on-year, driven by sponsorship fees and miscellaneous income[2]. - The group reported a net loss attributable to shareholders of HKD 18 million for the six months ended June 30, 2023, compared to a profit of HKD 24 million in the same period last year, representing a significant decline[30]. - Total sales for Unicorn, including self-operated goods and consignment counters, decreased by 17% year-on-year, with a net loss of HKD 54 million for the period, compared to a loss of HKD 14 million in the previous year[27]. - The earnings per share for the group was a loss of HKD 0.6 cents, compared to a profit of HKD 0.8 cents in the previous year[30]. - Revenue for the six months ended June 30, 2023, was HKD 796 million, a decrease of 14.2% from HKD 928 million in the same period of 2022[106]. - The company reported a loss before tax of HKD 21 million compared to a profit of HKD 27 million in the previous year, indicating a significant decline in profitability[106]. - The company experienced a decrease in sales cost of inventory to HKD 405 million from HKD 509 million year-over-year[98]. - The company recorded a tax expense of HKD 8 million for the current period, compared to HKD 5 million for the same period in 2022[99]. Revenue and Sales - Total revenue for the six months ended June 30, 2023, was HKD 781 million, representing a 6% increase from HKD 740 million in the same period last year[60]. - Sales from self-operated products decreased by 10% to HKD 162 million, but total sales including consignment and franchise counters increased by 6% compared to the previous year[24]. - The total revenue from self-operated goods sales for Citistore was HKD 162 million, down from HKD 180 million in the same period last year[42]. - Sales revenue decreased to HKD 575 million in 2023 from HKD 716 million in 2022, representing a decline of 19.7%[122]. - The group received consignment sales income of HKD 567 million for the six months ended June 30, 2023, slightly up from HKD 563 million in 2022[122]. - The group’s total consignment and licensed counter sales income was HKD 792 million in 2023, an increase of 8.9% from HKD 727 million in 2022[122]. Dividends and Shareholder Returns - The company announced no interim dividend for the period due to the recorded loss, compared to a dividend of HKD 0.01 per share in the previous year[17]. - No interim dividend was declared for the six months ended June 30, 2023, compared to HKD 30 million declared in the same period of 2022[125]. Operational Efficiency and Cost Management - The group expects further improvements in operational efficiency and cost-effectiveness due to the recent establishment of a central distribution center and cold storage[43]. - The group incurred rental and related expenses totaling HKD 56 million for the six months ended June 30, 2023, up from HKD 44 million in the previous year[70]. - The group confirmed a financing cost related to lease liabilities of HKD 16 million for the reporting period, down from HKD 22 million in the previous year[49]. - Total employee costs for the six-month period amounted to HKD 139 million, unchanged from HKD 139 million in 2022[86]. Assets and Liabilities - As of June 30, 2023, the group reported a cash and bank balance of HKD 133 million, a decrease of HKD 127 million or 49% compared to HKD 260 million as of December 31, 2022[51]. - Total assets as of June 30, 2023, were HKD 1,914 million, down from HKD 2,037 million at the end of 2022[109]. - Current liabilities decreased to HKD 499 million from HKD 660 million, reflecting improved liquidity management[109]. - Non-current liabilities, including lease liabilities, decreased to HKD 461 million from HKD 517 million, indicating a reduction in long-term financial obligations[109]. - The total liabilities decreased from HKD 430 million as of December 31, 2022, to HKD 339 million as of June 30, 2023, a reduction of approximately 21.3%[176]. Market and Consumer Trends - The retail market in Hong Kong showed improvement, but supermarket sales value decreased by 7.8% year-on-year due to reduced consumer purchases[18]. - The group launched several promotional activities, including the "Korean Food Festival" and "Thai Food Festival," to adapt to changing local consumption patterns[33]. Future Outlook - The company expects an average sales revenue growth of 6.3% for the next five twelve-month periods[146]. - The projected total sales revenue for Unicorn is expected to grow by an average of 13.4% for the periods ending June 30, 2024, 2025, 2026, 2027, and 2028[162]. - The company anticipates a 0.1 percentage point average increase in gross margin for the cash-generating unit of Citistore over the next five years[158]. - The average gross profit margin is projected to increase by 0.7 percentage points over the next five reporting periods ending June 30, 2024, to June 30, 2028[166]. Corporate Governance and Compliance - The interim results for the six months ended June 30, 2023, were reviewed by the company's auditor, PwC, in accordance with the Hong Kong Institute of Certified Public Accountants' standards[198]. - The audit committee reviewed internal controls, risk management, and compliance systems in August 2023, confirming adherence to the applicable code provisions of the Corporate Governance Code[200].