恒隆地产 2024年度报告

In 2024, Hang Lung expanded with new hotel andresidential developments that complement our existingmalls and office towers, shaping destinations thatseamlessly blend retail, work, and hospitality. By steadilyraising the bar in design, service, innovation, andsustainability, we continue to reinforce our leadership ina consolidating market with selective, strategic projectsthat position us for long-term success. The cover ofthis year’s annual report captures this commitment,showcasing the new Grand Hyatt Kunming, whichopened in August 2024, as a symbol of our dedicationto excellence and our vision for creating world-class,compelling spaces that enrich lives. LEADERSHIP INA CHANGING ERA CONTENTS 4Financial Highlights62024 Highlights14Chair’s Letter to Shareholders22Review of Operations66Financial Review80Sustainability89Corporate Governance Report122Profile of the Directors126Profile of Key Executives129Report of the Directors139Independent Auditor’s Report144Financial Statements206Ten-Year Financial Summary208Glossary210Corporate Information211Financial Calendar212Listing Information OUR VISION CORPORATE PROFILE We create compellingspaces that enrich lives Hang Lung Properties Limited (SEHK stock code: 00101),the property arm of Hang Lung Group Limited (SEHK stockcode: 00010), strives to create compelling spaces that enrichpeople’s lives. OUR MISSION We are a well-established, top-tier property developer withcustomer-centricity at the heart of our operations. Ourdiversified portfolio comprises numerous properties inHong Kong and in nine Mainland cities of Shanghai, Shenyang,Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou(listed by opening year). Through its luxury positioning underthe “66” brand, our Mainland portfolio has established a leadingposition as the “Pulse of the City”. We pursue sustainablegrowth by connectingour customers andcommunities OUR VALUES We are leading the way in enhancing sustainability initiatives inthe real estate industry, all the while driving sustainable growthby connecting customers and communities. Further to ouroutlined 2030 Sustainability Goals and Targets, we have set out25 new targets to be achieved by the end of 2025 (“25 x 25Sustainability Targets” or “25 x 25”), as well as a long-termtarget to achieve net-zero greenhouse gas emissions acrossthe value chain by 2050, pursuing quantifiable measures thatwill address significant sustainability challenges. These targetsalso provide a clear agenda for our long-term ambition tobecome one of the most sustainable real estate companies inthe world. We live up to our brandmotto ofWe Do It Wellby focusing on:INTEGRITYSUSTAINABILITYEXCELLENCEOPENNESS At Hang Lung Properties,We Do It Well. FINANCIAL HIGHLIGHTS Results Earnings and Dividends (HK$) Financial Ratios 2024 HIGHLIGHTS Mr. Adriel Chan Becomes Chair Mr. Adriel Chan became the Chair ofHang Lung Group and Hang LungProperties on April 26. Since joining theGroup in 2010, Adriel has brought astrategic vision focused on fosteringsustainable growth. In this role, heprovides leadership to the Board,championing effective governance andstakeholder engagement. His guidancewill steer the Company toward exploringnew opportunities and drivinginnovations that align with dynamicshifts in the market. Grand Hyatt KunmingOpens at Spring City 66 Meticulously blending elements of local heritage, natural beauty, andcontemporary design with unparalleled hospitality, facilities, and diningoptions, Grand Hyatt Kunming has set new standards for premieraccommodation in Southwest China. Officially opened on August 6,it solidifies Spring City 66’s status as the leading luxury hub in the region. Hang Lung Brings Kimpton Hotels &Restaurants to Grand Gateway 66 Hang Lung partners withInterContinental Hotels Group torevitalize one of the servicedapartment towers at Grand Gateway 66with the introduction of KimptonHotels & Restaurants. The newKimpton Xujiahui Shanghai willenhance Grand Gateway 66’spositioning as the “Gateway toInspiration” and address the demandfor luxury hospitality in Xujiahuibusiness district. The Aperture inHong Kong is Complete The Aperture, our residentialproject located in Hong Kong’sKowloon East, was completed inthe first half of the year. Itsclubhouse, designed by theacclaimed CL3 under theleadership of Managing DirectorWilliam Lim, emphasizescompelling and cozy spaces thatblend modern design with classicelegance. Conveniently locatedjust a three-minute walk from theMTR Kowloon Bay Station, TheAperture offers family-and-pet-friendly living environments. The “HOME TO LUXURY”Gala Sets New Records Plaza 66 in Shanghai hosted its eighth“HOME TO LUXURY” gala in November,featuring Asian superstar Rain and themusic icon Faye. Guests enjoyed accessto more than 100 first-release, exclusive,and limited-edition collections,complemented by animations fromrenowned global brands and a gourmetfeast by Michelin-starred chefs. Thethree-day event set new records inat