信和置业(00083) - 2023 - 中期财报

Financial Performance - For the six months ending December 31, 2022, the group's unaudited profit attributable to shareholders was HKD 2.802 billion, down from HKD 4.369 billion in 2021, representing a decrease of 36%[12] - Basic earnings per share for the interim period were HKD 0.36, compared to HKD 0.58 in the previous year, reflecting a decline of 38%[12] - After accounting for a revaluation loss of investment properties of HKD 340.6 million, the net profit attributable to shareholders was HKD 2.459 billion, down from HKD 4.225 billion in 2021, a decrease of 42%[12] - The interim earnings per share, after revaluation losses, were HKD 0.31, compared to HKD 0.56 in the previous year, indicating a decline of 45%[12] - For the six months ended December 31, 2022, the company's revenue was HKD 6,382,562,292, a decrease of 41.5% compared to HKD 10,892,121,664 for the same period in 2021[38] - The company's gross profit for the same period was HKD 2,780,700,567, down from HKD 5,536,437,680, reflecting a gross margin decline[38] - The profit attributable to shareholders for the six months was HKD 2,459,821,495, a decrease of 41.8% from HKD 4,225,517,118 in the previous year[38] - Total comprehensive income for the period was HKD 2,233,180,306, down from HKD 4,518,664,076 year-over-year, indicating a decline of about 50%[39] - The company reported a profit of HKD 2,460,271,746 for the six months ended December 31, 2022, compared to HKD 4,392,196,323 in the same period of 2021, reflecting a decrease of approximately 44%[39] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.15 per share, consistent with the previous year's dividend[13] - The total interim dividend declared for the six months ended December 31, 2022, was HKD 1,209,189,324, compared to HKD 1,142,268,702 for the same period in 2021, reflecting an increase of about 5.9%[63] - The company did not declare any special dividend for the six months ended December 31, 2022, compared to HKD 0.28 per share for the same period in 2021[62] Property Sales and Revenue - The group's attributable property sales revenue for the interim period was HKD 38.99 billion, a decrease from HKD 84.97 billion in the previous year[14] - Revenue from property sales for the six months ended December 31, 2022, was HKD 3,947,351,849, down 54.5% from HKD 8,685,166,816 in the same period of 2021[49] - The segment profit for the property sales division was HKD 1,132,653,182, down from HKD 4,135,626,503 in the previous year, indicating a decrease of about 72.6%[50] Rental and Hotel Operations - The total rental income for the interim period was HKD 1.728 billion, down 3.8% year-on-year, while net rental income decreased by 4.9% to HKD 1.4806 billion[21] - The group's hotel revenue for the interim period was HKD 692.8 million, a significant increase from HKD 247.7 million in the same period last year, with operating profit rising to HKD 229.2 million from HKD 12.6 million[23] - Revenue from hotel operations increased to HKD 455,151,150, a significant rise from HKD 194,913,796 in the previous year, reflecting a growth of 133.3%[49] Financial Position and Assets - The group maintained a strong financial position with cash and bank deposits totaling HKD 44.46 billion, resulting in a net cash position of HKD 41.23 billion after deducting total borrowings of HKD 3.22 billion[26] - The group’s total assets and total equity were valued at HKD 179.39 billion and HKD 159.33 billion, respectively, as of December 31, 2022[26] - The company's non-current assets increased to HKD 111,853,827,165 as of December 31, 2022, up from HKD 107,558,890,604 as of June 30, 2022, representing a growth of approximately 4%[40] - The company's total equity attributable to shareholders rose to HKD 159,323,330,115 as of December 31, 2022, compared to HKD 157,397,300,099 at the end of June 2022, an increase of approximately 1.2%[41] Market Outlook and Strategy - The company anticipates that the easing of interest rate pressures and the reopening of China will support the Hong Kong residential market[36] - The company is focused on enhancing operational efficiency and business performance amid ongoing economic challenges, including inflation and consumer confidence issues[34] - The company remains cautiously optimistic about the Hong Kong property market, supported by government efforts to stimulate economic recovery and urbanization[35] Sustainability and Corporate Governance - SINO Land Company achieved a five-star rating in the Global Real Estate Sustainability Benchmark (GRESB) assessment, marking a significant milestone in its commitment to sustainable development[29] - The company aims to reduce scope 1 and 2 greenhouse gas emissions by 53.1% per square meter by 2030, using 2018 levels as a baseline[31] - SINO Land was recognized as one of the top 100 sustainable companies globally by Corporate Knights, highlighting its leadership in sustainability within the local real estate sector[29] - The company launched the "CORAL REEFStoration" project, utilizing 3D-printed coral reef structures to restore coral ecosystems in Hong Kong[31] - The company established a Compliance Committee to enhance corporate governance, which meets every two months to review compliance reports and provide regulatory updates[116] - The company adhered to all provisions of the Corporate Governance Code as per the Listing Rules for the six months ending December 31, 2022, although the roles of Chairman and CEO are currently held by the same individual[118] Shareholder Information - Major shareholder Huang Zhixiang holds 4,720,566,903 shares, representing 58.55% of the issued shares[95] - The estate of the late Huang Tingfang, managed by joint executors, holds 4,714,732,371 shares, accounting for 58.69% of the issued shares[104] - The company has a total of 17,252,756 shares under controlled corporation interests and 4,714,250,371 shares under the estate of the late Huang Tingfang[104] Committees and Compliance - The company has established a remuneration committee to oversee the remuneration policies for all directors and senior management, ensuring transparency and regular reviews[113] - The audit committee has reviewed the accounting policies and practices adopted by the company for the six months ended December 31, 2022[115] - All directors confirmed compliance with the Board's Securities Trading Code during the six months ending December 31, 2022[117]