for the year ended 30 June
for the year ended 30 June
Further information
Revenues 68,212.7 68,233.2

Segment performance - Revenues

Property development 17,369.6 22,581.6
Property investment 4,823.5 4,700.7
Roads 2,717.5 3,033.2
Aviation - -
Construction 25,759.1 22,074.0
Insurance 12,371.6 9,639.3
Hotel operations 823.5 807.6
Others 4,347.9 5,396.8
Total 68,212.7 68,233.2


  • 72,000

  • 60,000

  • 48,000

  • 36,000

  • 24,000

  • 12,000

  • 0



  • Others

  • Hotel operations

  • Insurance

  • Construction

  • Aviation

  • Roads

  • Property investment

  • Property development

Segment results(1) 13,835.4 14,190.5
Underlying profit 7,084.6 6,957.9
Dividend per share (HK$) 2.06 2.06
As at 30 June 2022
As at 30 June 2021
Total assets 635,883.9 627,077.4
Cash and bank balances
(including restricted bank balances)
62,210.1 61,955.1
Undrawn facilities from banks 42,761.9 56,599.4
Consolidated net debt(2) 124,349.3 108,194.9
Net gearing ratio (%)(3) 43.2 35.6
The Group recorded consolidated revenues of HK$68,212.7 million, on a par with FY2021. Underlying profit was HK$7,084.6 million and profit attributable to shareholders of the Company was HK$1,249.2 million, up by 1.8% and 8.5%, respectively
The Group’s attributable contracted sales in Hong Kong amounted to about HK$8.24 billion
The Group’s overall contracted sales in Mainland China amounted to about RMB17.1 billion, with the Southern Region, led by the Greater Bay Area, accounting for around 73%
Segment results of property development in Mainland China increased 10.9% YOY, segment margin increased from 40% in FY2021 to 57% in FY2022
Segment results of property investment in Hong Kong grew 6.0% YOY, benefitting largely from the improvement in operational efficiency and occupancy rate of K11 MUSEA and K11 ATELIER King’s Road
Segment results of property investment in Mainland China increased 11.0% YOY, mainly attributed to improved operational efficiency and higher occupancy rates of K11 projects
Continuous stringent cost control efforts as evidenced by an approximately 4.7% YOY decrease in recurring administrative and other operating expenses
Non-core asset disposal amounted to approximately HK$13.9 billion in FY2022, which exceeded target for the year
Total capital resources amounted to approximately HK$105.0 billion, including cash and bank balances of approximately HK$62.2 billion and undrawn facilities from banks of approximately HK$42.8 billion
Overall financing cost decreased from 2.8% in FY2021 to 2.5% in FY2022
All refinancing of borrowings due in FY2023 has been taken care of
FY2022 final dividend: HK$1.5 per share, or HK$2.06 per share for the whole year, same as compared to FY2021, maintains the prevailing sustainable and progressive dividend policy
(1)Include share of results of joint ventures and associated companies, but exclude changes in fair value of investment properties
(2)The aggregate of bank loans, other loans, fixed rate bonds and other borrowings less cash and bank balances
(3)Consolidated net debt divided by total equity