
Delivering Value withDistinctive Quality 企 業 使 命 OUR MISSION It is our mission to focus on customer needs and pursue thespirit of excellence with quality products and services throughour commitment to research, design and value creation. Withvision,perseverance and teamwork,we strive to provideshareholders with the best return on their investment. 公 司 簡 介 CORPORATE PROFILE K. Wah International Holdings Limited (“KWIH” or “the Group”, stockcode: 00173) is the listed property arm of K. Wah Group. With a strongfoothold established in Hong Kong, KWIH has grown and prospered into aleading integrated developer and investor of exquisite and niche projects,with a strategic focus on Hong Kong, the Yangtze River Delta and PearlRiver Delta regions. 00173 Committed to delivering premium projects built to an uncompromisingstandard of quality, our portfolio of large-scale residential communitiesand comprehensive development undertakings such as premium residentialdevelopments, Grade-A office towers, hotel, serviced apartments and retailpremises are truly one-of-a-kind. Each of our properties boasts a perfectinterplay of superb design, delicate craftsmanship, top-notch facilities andinnovative features, thanks to a team of seasoned professionals. That isalso why we are honoured with a host of international accolades, besidesearning a reputed name for impeccable living. Cresleigh Property, the property management arm of the Group, deliversexceptional hotel serviced property management services guided byadvanced and international standards in general to premium residentialbuildings, commercial facilities, office towers and real estate complexes. Sharing the common vision of excellence and sustainability, we go beyondboth in the projects we develop and the communities we help grow andcultivate. We have always been a trend-setter pioneering unique andsophisticated lifestyle, embracing customers’ needs and creating addedvalue in the projects we undertake as a premier brand. Taking pride in our track record and strong financial capability, guidedby the spirit of prudence and excellence, we will continue to adopt aprogressive strategy with a disciplined approach in land acquisition,in strive for setting ever higher standards of quality living spaces anddelivering long term shareholder value. 目 錄 1213141527 23491011 公 司 資 料 GBMMBELLDDSSc DBA Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda BBS 19129 GBMGBS OBE (1)(2)LLD MUFG Fund Services (Bermuda) Limited4th floor NorthCedar House41 Cedar AvenueHamilton HM 12Bermuda (3)(2)LLDGBMGBS OBE(4) 1831717121716 (3)(2)LLDGBMMBELLDDSSc DBA(4) http://www.kwih.com GBMMBELLDDSSc DBA(4)(2)LLD :00173:173 HK:0173.HK 鳯 (1)(2)(3)(4) 中 期 業 績 摘 要 及 中 期 股 息 K. Wah International Holdings Limited •3,100,000,000482,000,000•40•186•15.47•13.8• 7219,303,0007219,303,000 管 理 層 之 討 論 及 分 析 3,100,000,000921,000,0004,021,000,000 482,000,000462,000,000 700,000,000 40 186 10664 4A2 JSENSES665% 1096%50 90%90% 162,000,0003.72%49.751.630.2 管 理 層 之 討 論 及 分 析 31%4.3%6120,000,000 6.3% 5.2%5% 2.9%1.5%4–5% • 6106203,132,894,615 15,037,000,00014,939,000,00033%27,000,0002.6%4.1% 16,376,000,00019,074,000,00014,019,000,00015,804,000,0002,357,000,0003,270,000,000 8,569,000,0008,660,000,00083%13%14% 管 理 層 之 討 論 及 分 析 2025 15,037,000,00093%87% 4,839,000,0004,921,000,000 8,314,000,0009,096,000,0002,664,000,0002,664,000,0005,401,000,0005,520,000,0001,467,000,0001,347,000,0001,519,000,0001,697,000,000 28,605,000,00030,698,000,0007,782,000,0008,411,000,0002,664,000,0002,664,000,00014,611,000,00014,548,000,0005,329,000,0005,453,000,0001,467,000,0001,347,000,000 945256,000,000 中 期 財 務 資 料 的 審 閱 報 告 10263434() 2410 34 22 簡 明 綜 合 全 面 收 益 表(未 經 審 核) 簡 明 綜 合 資 產 負 債 表 簡 明 綜 合 現 金 流 量 表(未 經 審 核) 簡 明 綜 合 權 益 變 動 表(未經 審 核) 中 期 財 務 資 料 附 註 1 Victoria Place, 5th Floor, 31 Victoria Street, Hamilton HM 10, Bermuda19129 2 34 1281212—1717 中 期 財 務 資 料 附 註 2 3 4 (a) 4 (b) (c) ••• (d) 中 期 財 務 資 料 附 註 5 中 期 財 務 資 料 附 註 5 7 中 期 財 務 資 料 附 註 9 16.5%16.5%25%25% 30%60% 10 11 219,303,00077219,303,000 12 4,300,0001,300,000 中 期 財 務 資 料 附 註 15 2,660,000 16 中 期 財 務 資 料 附 註 19 28,605,000,00030,698,000,0007,782,000,0008,411,000,0002,664,000,0002,664,000,00014,611,000,00014,548,000,0005,329,000,0005,453,000,0001,467,000,0001,347,000,000 20 (a)32,364,00031,466,000(b)726,000778,000(c)2,867,0002,965,000 其 他 資 料 XV78352XV (1)8,317,120(2)(3)(4)(5) – 其 他 資 料 312,697,461 (c) 39,420,0001.26%1.26% 27(3) XV 336 其 他 資 料 HSBCInternational Trustee LimitedCWLAssets(PTC) Limited1,681,776,769Super Focus Company Limited1,120,247,673Best Chance Investments Ltd.66,919,192Favor Right InvestmentsLimited229,857,444PremiumCapital Profits LimitedStarII Limited184,229,079Star II Limited80,523,381 XV23 13.22 13.22 2410 (i)B.2.2(ii)C.2.1 13.51B(1) Hutchison Port Holdings Management Pte. LimitedHutchison Port Holdings Trust–HPH ManagementHPH Mana