2023-07-27-港交所-宏安地产_二零二三年年报_254页_8mb

报告摘要

2023 ANNUAL REPORT SUMMARY

Core Content

This summary outlines the key aspects of the 2023 Annual Report of Wang On Properties Limited (the "Group"), including corporate structure, financial performance, business developments, and future outlook.

Main Directors and Committees

Board of Directors

Executive Directors: Mr. Tang Ho Hong (Chief Executive Officer), Ms. Ching Tak Won Teresa, Ms. Wong Chin Han
Independent Non-executive Directors: Mr. Li Wing Sum Steven, Mr. Sung Tze Wah, Sr Dr. Leung Tony Ka Tung, Dr. Chan Ho Wah Terence (appointed on 1 December 2022)

Committees

Audit Committee: Mr. Li Wing Sum Steven (Chairman), Mr. Sung Tze Wah, Sr Dr. Leung Tony Ka Tung, Dr. Chan Ho Wah Terence
Remuneration Committee: Sr Dr. Leung Tony Ka Tung (Chairman), Mr. Li Wing Sum Steven, Mr. Sung Tze Wah, Dr. Chan Ho Wah Terence, Mr. Tang Ho Hong
Nomination Committee: Mr. Sung Tze Wah (Chairman), Mr. Li Wing Sum Steven, Sr Dr. Leung Tony Ka Tung, Dr. Chan Ho Wah Terence, Mr. Tang Ho Hong

Executive Committee

Chairman: Mr. Tang Ho Hong
Members: Ms. Ching Tak Won Teresa, Ms. Wong Chin Han

Corporate Information

Registered Office: Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda
Head Office in Hong Kong: Suite 3201, 32/F., Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong
Share Registrar and Transfer Office (Bermuda): Conyers Corporate Services (Bermuda) Limited
Share Registrar and Transfer Office (Hong Kong): Tricor Investor Services Limited
Board Lot: 4,000 shares

Financial Highlights

Item	2023	2022
Revenue	HK$1,991.8 million	HK$38.9 million
Profit Attributable to Owners of the Parent	HK$211.1 million	HK$285.1 million
Basic Earnings per Share	HK1.39 cents	HK1.88 cents
Total Assets	HK$9,746.0 million	HK$10,605.6 million
Net Assets	HK$5,282.7 million	HK$5,183.9 million
Net Asset Value per Share	HK$0.35	HK$0.34
Gearing Ratio	59.4%	68.2%

Business Development

The Group has adopted an asset-light business model, focusing on asset management, sales, and operations through joint ventures.
Key Joint Venture Partners: Angelo, Gordon & Co., L.P. (AG), APG Strategic Real Estate Pool (APG), Kohlberg Kravis Roberts & Co. L.P. (KKR)
Major Projects:
- The Met. Azure: Delivered in 2023, located in Tsing Yi, total gross floor area ~46,300 sq ft, revenue ~HK$1,971.1 million
- Larchwood: Launched in 2022, located in Kowloon, total sales proceeds ~HK$516.4 million, 96/98 units sold
- maya曦臺: Co-developed with CIFI, 326 units sold, total sales proceeds ~HK$4.3 billion, 50% equity interest
- Altissimo泓碧: Co-developed with Country Garden and China State Construction, 542/547 units sold, total sales proceeds ~HK$7.0 billion, 40% equity interest
- LADDER Dundas: Launched in 2022, located on Nathan Road, all 19 floors sold, total sales proceeds ~HK$611.9 million

Dividend

Final Dividend per Ordinary Share: HK0.69 cents (2022: HK0.75 cents)
Payment Date: Around 13 September 2023
Approval Required: At the Annual General Meeting on 22 August 2023

Corporate Social Responsibility (CSR)

The Group has established the Environmental, Social and Governance Committee to implement the ESG five-year roadmap.
Sustainable Development: Secured approximately HK$4.3 billion in sustainable development performance-linked loans.
Community Engagement:
- Participated in activities like "Visiting Low-income Families"
- Collaborated with Hang Seng University and University of Hong Kong to establish scholarships
- Supported youth development through events like "Young Innovators Bazaar"

Future Outlook

The Group plans to launch five development projects from 2023 to 2024, the most in recent years.
These include:
- Ming Fung Street (Wong Tai Sin)
- Pokfulam Road
- Ting Yip Street (Ngau Tau Kok)
- Main Street (Ap Lei Chau)
- Wai Fung Street (Ap Lei Chau)
The Group will continue to expand its asset management business, diversify its property investment portfolio, and enhance its competitiveness.
It will focus on smart home facilities and green building elements in residential projects.
The Group remains committed to sustainable development, creating long-term value for assets and delivering solid returns to shareholders.

Summary of Key Projects

Project	Location	Status	Key Features
The Met. Azure	Tsing Yi	Delivered	Residential project, total gross floor area ~46,300 sq ft
Larchwood	Kowloon	Pre-sold	Commercial and residential, 96/98 units sold
maya曦臺	Yau Tong	Sold out	Co-developed with CIFI, total sales proceeds ~HK$4.3 billion
Altissimo泓碧	Wong Tai Sin	Delivered	Co-developed with Country Garden and China State Construction, total sales proceeds ~HK$7.0 billion
LADDER Dundas	Kowloon	Sold out	Ginza-style commercial property, all 19 floors sold

Summary of Financial Performance

The Group's revenue for the year ended 31 March 2023 was HK$1,991.8 million, significantly higher than 2022's HK$38.9 million.
Profit attributable to owners of the parent was HK$211.1 million, compared to HK$285.1 million in 2022.
Gearing ratio improved from 68.2% in 2022 to 59.4% in 2023, reflecting better financial stability.
The Group is focusing on sustainable and green development, aligning with ESG goals.

Conclusion

Wang On Properties has made significant progress in its asset-light business model, property development, and sustainable initiatives in 2023. With a focus on urban renewal, smart home design, and green building, the Group continues to expand its property investment portfolio and strengthen its market position. It also emphasizes community engagement and social responsibility, aligning with its long-term vision of creating a prosperous future.