中国星集团2023年报

(Incorporated in Bermuda with limited liability)()Stock code: 326(Incorporated in Bermuda with limited liability)()Stock code: 326 PageCorporate Information2Chairman’s Statement4Management Discussion and Analysis8Biographical Details of Directors and Senior Management22Corporate Governance Report27Directors’ Report52Independent Auditors’ Report65Consolidated Income Statement73Consolidated Statement of Comprehensive Income74Consolidated Statement of Financial Position75Consolidated Statement of Changes in Equity77Consolidated Statement of Cash Flows79Notes to the Consolidated Financial Statements82Five Year Financial Summary258Properties Under Development and Investment Property260 公 司 資 料 Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Heung Wah Keung(Chairman)Ms. Chen Ming Yin, Tiffany(Vice Chairman)Ms. Li Yuk Sheung Independent Non-Executive Directors Mr. Hung Cho SingMr. Ho Wai Chi, PaulMr. Tai Kwok Leung, Alexander AUDIT COMMITTEE Mr. Ho Wai Chi, Paul(Chairman)Mr. Hung Cho SingMr. Tai Kwok Leung, Alexander REMUNERATION COMMITTEE Mr. Hung Cho Sing(Chairman)Ms. Chen Ming Yin, TiffanyMr. Tai Kwok Leung, Alexander NOMINATION COMMITTEE Mr. Tai Kwok Leung, Alexander(Chairman)Mr. Heung Wah KeungMr. Hung Cho Sing AUTHORISED REPRESENTATIVES Ms. Li Yuk SheungMs. Wong Shuk Han, Dorothy COMPANY SECRETARYMs. Wong Shuk Han, Dorothy REGISTERED OFFICE Victoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda Victoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda 公 司 資 料 Corporate Information HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS 168-2003409 Unit 3409Shun Tak Centre, West Tower168-200 Connaught Road CentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE MUFG Fund Services (Bermuda) Limited26 Burnaby StreetHamilton HM11Bermuda MUFG Fund Services (Bermuda) Limited26 Burnaby StreetHamilton HM11Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKERS Industrial and Commercial Bank of China (Macau) LimitedBank of China (Hong Kong) LimitedThe Bank of East Asia, LimitedIndustrial and Commercial Bank of China (Asia) Limited AUDITORS HLB Hodgson Impey Cheng LimitedCertified Public Accountants LEGAL ADVISERS Appleby RobertsonsApplebyClifford ChanceLeonel Alberto Alves Advegado e Notario Privado STOCK CODE326 326 WEBSITE www.chinastar.com.hkwww.irasia.com/listco/hk/chinastar www.chinastar.com.hkwww.irasia.com/listco/hk/chinastar 主 席 報 告 Chairman’s Statement To the shareholders, Onbehalf of the board of directors(the“Board”),we arepleased to present the annual results and the annual reportforthe year ended 31st December 2023 of China StarEntertainmentLimited(the“Company”)and its subsidiaries(collectively as the “Group”) to the shareholders. 9387.9%1,831333.8%62.6%1,8001,80020%1,0871,304 In the year of 2023, as the first financial year after overcomingthedark shadow of the pandemic and returning to normaltraveland daily life,we are delighted to see signs ofimprovementin the economy of mainland China and theGreaterBay Area(including Hong Kong and Macau).Forexample,the unemployment rate and the underemploymentratehave reached low levels in Macau.During the eight-daylong holiday period of the Mid-Autumn Festival andtheNational Day last year,the Golden Week,Macauwelcomedover 930,000 inbound tourists,with an averagehoteloccupancy rate of 87.9%.The annual gross gamingrevenuereached MOP183.1 billion,representing a year-on-yearincrease of 333.8%.This indicates that the gamingrevenue has rebounded to 62.6% of the level in 2019. It isworthmentioning that at the end of last year,the Macaugovernment renewed contracts with six casino operators for aunified ten-year concession period, from 1st January 2023, to31st December 2032. The fact that Macau’s gaming revenueexceeded MOP180 billion in 2023 indicates great significanceforthe six casino operators.According to the contractsbetween the government and the six casino operators, duringthefirst five years of the new concession period,the sixcasino operators must increase their total investment in non-gaming projects by 20% if the gross gaming revenue exceedsMOP180 billion for any year from 2023 to 2027. Prior to thiscommitment, MOP108.7 billion was already allocated for non-gaming projects by the casino operations, and it is estimatedto reach MOP130.4 billion with the additional 20% investment.This is a significant support for the moderate diversification ofMacau’s economic trajectory over the next ten years. 主 席 報 告 Chairman’s Statement 1132.24 The Greater Bay Area also presents positive prospects. Forexample, the GDP of the nine cities in the Greater Bay Areaaccountsfor 80%of Guangdong Province’s GDP;half ofChina’s unicorns valued at over RMB100 billion are located inthe Greater Bay Area; Guangzhou-Shanwei high-speed railwayhas been opened to traffic with the fastest travel time fromGuangzhouto