HONG KONG, Aug. 31, 2021 /PRNewswire/ -- Shanghai Industrial Holdings Limited ("SIHL" or the "Company", together with its subsidiaries collectively refers to as the "Group"; HKSE stock code: 363) has announced its unaudited interim results for six months ended 30 June 2021. Revenue amounted to HK$16,316 million, representing an increase of 23.5% year-on-year. Profit attributable to owners of the Company amounted to HK$2,131 million, representing a significant increase of 165.4% year-on-year. The Board of Directors has recommended an interim dividend of HK48 cents per share to reciprocate our shareholders' long-term support.
2021 Interim Results Highlights:
For the six months ended 30 June (Unaudited) |
|||
2021 |
2020 |
Change |
|
Revenue (HK$ million) |
16,316 |
13,211 |
+23.5% |
Profit attributable to owners of the Company (HK$ million) |
2,131 |
803 |
+165.4% |
Earnings per share – Basic (HK$) |
1.945 |
0.725 |
+168.3% |
Dividend per share – Interim (HK cents) |
48 |
37 |
|
In which: Cash dividend |
48 |
22 |
|
Stock dividend |
15 * |
||
Dividend payout ratio |
24.7% |
51% |
|
As at 30 June (Unaudited) |
As at 31 December (Audited) |
||
2021 |
2020 |
Change |
|
Total assets (HK$ million) |
210,759 |
194,882 |
+8.1% |
Equity attributable to owners of the Company (HK$ million) |
45,752 |
43,679 |
+4.7% |
* According to dispatch date (22 October 2020), the close price of Shanghai Industrial Urban Development Group Limited (SIUD). Stock dividend was 1 SIUD share for every 5 SIHL shares.
Revenue and Profit Contributions by Business:
For the six months ended 30 June (Unaudited) |
|||
Segment Revenue (HK$ million) |
2021 |
2020 |
Change |
Infrastructure Facilities |
5,000 |
3,344 |
+49.5% |
Real Estate |
9,606 |
8,131 |
+18.1% |
Consumer Products |
1,710 |
1,736 |
-1.5% |
Total |
16,316 |
13,211 |
+23.5% |
Segment Net Profit (HK$ million) |
2021 |
2020 |
Change |
Infrastructure Facilities |
1,215 |
408 |
+197.5% |
Real Estate |
768 |
256 |
+199.5% |
Consumer Products |
292 |
360 |
-18.9% |
During the first half of 2021, the Group overcame various challenges to ensure stable operations and development of its core businesses and achieved considerable business and profit growth by leveraging on the opportunity of economic and production recovery from the pandemic. Net profit of the infrastructure facilities business amounted to HK$1,215 million, representing a significant increase of 197.5% year-on-year and accounting for approximately 53.4% of the total profit of the Group. The toll road business has resumed since the second half of last year, achieving significant year-on-year growth in revenue and profit during the period. In addition, the Group received the compensation for the reduction in toll mileage on the inbound section of the toll road during the period.
In the first half of 2021, the real estate business recorded a profit of HK$768 million, representing a significant increase of 199.5% year-on-year and accounting for approximately 33.7% of the total net profit of the Group, mainly due to the profit contribution from the delivery of Shanghai Bay (Phase IV), a joint venture between the Company and SI Development. The Company has a 49% interest in the project.
In the first half of 2021, the consumer products business recorded a profit of HK$292 million, representing a decrease of 18.9% year-on-year and accounting for approximately 12.9% of the total net profit of the Group. As global pandemic has not been fully controlled, coupled with the restrictions on customs clearance of travel goods, Nanyang Tobacco recorded lower revenue during the period. The packaging business of Wing Fat Printing focused on high-quality projects and achieved positive growth, while the medicine package business grew rapidly and gradually increased its contribution to revenue.
Business Highlights:
Infrastructure Facilities
Real Estate
Consumer Products
Mr. Shen Xiao Chu, Chairman of SIHL, said, "In the second half of 2021, with ongoing uncertainties of political and economic situation under the pandemic globally, we are facing severe challenges in many aspects. As for the infrastructure and environmental protection business, SIIC Environment will take advantage of the development opportunities brought by the national policy to promote the environmental protection and clean energy segments to accelerate the deployment in the field of environmental protection technology and promote the integration of production and financing for high quality development. We will continue to improve operational efficiency of toll roads to maintain stable business development. Investments in the new business arena and green energy sector are expected to be new revenue contribution to the Group. In the real estate business, we will closely monitor policies and market dynamics, revitalize stock assets, innovate financing methods and channels, and explore upgrading and transformation. In the consumer products business, Nanyang Tobacco will step up efforts to cultivate innovative products in the second half of 2021, adjust the structure of product channels and seek cooperation with large mainland cigarette companies in overseas production and sales to enhance its internationalization and marketability. Wing Fat Printing will strive to achieve the annual business target while strengthening its long-term deployment amid the changing environment. Overall, the Group will accelerate the upgrade of its core businesses and acquire more quality projects at the right time to maximize the returns for shareholders."
About SIHL
Shanghai Industrial Holdings Limited ("SIHL", HKSE Stock Code: 363) is the largest overseas conglomerate under Shanghai Industrial Investments (Holdings) Co., Ltd ("SIIC"). As the flagship of the SIIC group of companies, SIHL has been successful in leveraging its Shanghai advantage since listing, in terms of securing the best investment opportunities in mainland China with full support from the parent company. Over the past 20 years, SIHL has secured a unique position as a leading red chip company in Hong Kong with three core businesses: infrastructure facilities (including toll roads/bridge, and environmental protection related business such as sewage treatment and solid waste treatment business), real estate and consumer products (including Nanyang Tobacco and Wing Fat Printing). SIHL will continue to raise its governance standard in order to create favourable returns and value for shareholders.
For more information about SIHL, please visit the company website at www.sihl.com.hk.