INTERIM REPORT 2022 中期報告 2022 Delivering Value with Distinctive Quality

INTERIM REPORT 2022 中期報告 2022 Delivering Value with Distinctive Quality

OUR MISSION It is our mission to focus on customer needs and pursue the spirit of excellence with quality products and services through our commitment to research, design and value creation. With vision, perseverance and teamwork, we strive to provide shareholders with the best return on their investment. 企業使命 CORPORATE PROFILE K. Wah International Holdings Limited ( KWIH or the Group, stock code: 00173) is the listed property arm of K. Wah Group. With a strong foothold established in Hong Kong, KWIH has grown and prospered into a leading integrated developer and investor of exquisite and niche projects, with a strategic focus on Hong Kong, the Yangtze River Delta and Pearl River Delta regions. 公司簡介 00173 Committed to delivering premium projects built to an uncompromising standard of quality, our portfolio of large-scale residential communities and comprehensive development undertakings such as premium residential developments, Grade-A office towers, hotel, serviced apartments and retail premises are truly one-of-a-kind. Each of our properties boasts a perfect interplay of superb design, delicate craftsmanship, top-notch facilities and innovative features, thanks to a team of seasoned professionals. That is also why we are honoured with a host of international accolades, besides earning a reputed name for impeccable living. Cresleigh Property, the property management arm of the Group, delivers exceptional hotel serviced property management services guided by advanced and international standards in general to premium residential buildings, commercial facilities, office towers and real estate complexes. Sharing the common vision of excellence and sustainability, we go beyond both in the projects we develop and the communities we help grow and cultivate. We have always been a trend-setter pioneering unique and sophisticated lifestyle, embracing customers needs and creating added value in the projects we undertake as a premier brand. Taking pride in our track record and strong financial capability, guided by the spirit of prudence and excellence, we will continue to adopt a progressive strategy with a disciplined approach in land acquisition, in strive for setting ever higher standards of quality living spaces and delivering long term shareholder value.

目錄 2 3 4 9 10 11 12 13 14 15 27 嘉峯匯香港

公司資料 GBM MBELLD DSSc DBA BBS GBM GBS OBE LLD LLD GBM GBS OBE LLD GBM MBELLD DSSc DBA GBM MBELLD DSSc DBA LLD Victoria Place, 5th Floor 31 Victoria Street Hamilton HM 10 Bermuda 191 29 MUFG Fund Services (Bermuda) Limited 4th floor North Cedar House 41 Cedar Avenue Hamilton HM 12 Bermuda 183 17 1712 1716 http://www.kwih.com : 00173 : 173 HK : 0173.HK 2 嘉華國際集團有限公司

中期業績摘要及中期股息 K. Wah International Holdings Limited 5,392,000,000 79% 5,787,000,000 1.21,063,000,000 39% 1,081,000,000 124 155 34.517 14.3 7219,303,000 7218,888,000 二零二二年中期報告 3

管理層之討論及分析 5,392,000,000 395,000,000 5,787,000,000 1,081,000,000 1,063,000,000 764,000,000 124 155 47 31 3 J SENSES97% 2019 4 嘉華國際集團有限公司

49% 50 2019 11 98%90% 162,000,000 3.73% 46.840.4 10 2019 4.8%0.4%3.9% 1.3% 二零二二年中期報告 5

管理層之討論及分析 2019 41% 37% 32% 2.25% 6 嘉華國際集團有限公司

610 640 3,132,894,615 3,130,234,615 14,915,000,000 18,984,000,000 44% 197,000,000 1.6%1.8% 20,394,000,000 18,132,000,00015,510,000,000 12,686,000,000 4,884,000,000 5,446,000,000 6,771,000,000 8,137,000,000 76% 24% 18% 29 29 14,915,000,000 84% 81% 二零二二年中期報告 7

管理層之討論及分析 16,099,000,000 20,374,000,000 10,678,000,000 12,737,000,000 2,664,000,000 980,000,000 6,034,000,000 7,670,000,000 1,260,000,000 684,000,000 1,616,000,000 1,808,000,000 29,663,000,000 29,943,000,000 9,359,000,000 10,089,000,000 2,664,000,000 980,000,000 13,832,000,000 17,127,000,000 5,956,000,000 6,332,000,000 1,260,000,000 684,000,000 1,011 266,000,000 8 嘉華國際集團有限公司

中期財務資料的審閱報告 10 26 34 34 ( ) 2410 34 22 二零二二年中期報告 9

簡明綜合損益表 ( 未經審核 ) 6 5,391,730 2,510,912 (3,686,276) (1,279,498) 1,705,454 1,231,414 261,174 136,355 126,324 30,983 482,477 25,329 38,199 (324,721) (195,218) (336,768) (324,125) 7 (30,135) (18,111) (16,225) 18,123 18,210 24,218 8 1,428,642 1,424,315 9 (318,915) (612,823) 1,109,727 811,492 1,081,087 776,278 28,640 35,214 1,109,727 811,492 10 34.51 24.83 34.51 24.78 10 嘉華國際集團有限公司

簡明綜合全面收益表 ( 未經審核 ) 1,109,727 811,492 1,039,898 308,720 (1,415,489) 333,787 (375,591) 642,507 734,136 1,453,999 763,953 1,401,653 (29,817) 52,346 734,136 1,453,999 二零二二年中期報告 11

簡明綜合資產負債表 332,900 356,821 16,422,091 16,946,902 22,286 23,226 11,242,903 11,225,144 2,562,569 3,120,932 7,604,253 6,564,355 139,258 146,223 65,483 2,240,118 2,367,954 40,631,861 40,751,557 23,054,540 26,835,315 1,716 1,362 54,634 129,003 13 527,569 587,710 50,000 100,000 11,510 245,077 1,166,702 1,089,225 789,386 14 6,771,248 8,136,563 31,805,519 37,746,041 72,437,380 78,497,598 15 313,289 313,023 44,357,117 43,585,993 44,670,406 43,899,016 1,230,146 1,316,418 45,900,552 45,215,434 16 8,354,234 16,385,011 22,743 7,019 5,455 2,767,786 2,860,327 11,129,039 19,273,536 1,478,699 773,232 58,238 142,289 17 2,082,026 2,429,360 4,320,046 3,891,367 16 6,560,433 2,598,955 3,338 908,347 4,170,087 15,407,789 14,008,628 26,536,828 33,282,164 72,437,380 78,497,598 16,397,730 23,737,413 57,029,591 64,488,970 12 嘉華國際集團有限公司

簡明綜合現金流量表 ( 未經審核 ) 773,550 1,801,408 (70,135) (972,558) 721,341 (41,324) 404,103 (31,012) 904,934 1,230,197 14,157 88,250 20,000 88,383 9,024 2,136,876 228,484 6,789,875 5,832,064 (10,761,737) (9,172,908) (450,000) (3,080) (2,517) 2,105 3,345 (58,560) 7,437 (4,023,960) (3,790,016) (1,113,534) (1,760,124) 8,136,563 7,673,477 (251,781) 52,333 6,771,248 5,965,686 二零二二年中期報告 13

簡明綜合權益變動表 ( 未經審核 ) 313,023 9,380,198 34,205,795 43,899,016 1,316,418 45,215,434 1,081,087 1,081,087 28,640 1,109,727 (317,134) (317,134) (58,457) (375,591) 266 7,171 7,437 7,437 (3,577) 3,577 2,105 2,105 (58,560) (58,560) 313,289 9,066,658 35,290,459 44,670,406 1,230,146 45,900,552 312,697 11,756,794 31,507,280 43,576,771 1,248,191 44,824,962 776,278 776,278 35,214 811,492 625,375 625,375 17,132 642,507 5,652 5,652 5,652 (183) 183 3,345 3,345 312,697 12,387,638 32,283,741 44,984,076 1,303,882 46,287,958 14 嘉華國際集團有限公司

中期財務資料附註 1 Victoria Place, 5th Floor, 31 Victoria Street, Hamilton HM 10, Bermuda 19129 2 34 16 37 3 9 16 20182020 二零二二年中期報告 15

中期財務資料附註 2 1 1 2 8 12 10 28 17 17 5 2020 3 16 嘉華國際集團有限公司

4 (a) (b) (c) 二零二二年中期報告 17

中期財務資料附註 4 (d) 5 18 嘉華國際集團有限公司

5 3,427,392 1,624,612 5,052,004 21,962 21,962 317,764 317,764 3,427,392 1,624,612 317,764 21,962 5,391,730 1,108,812 173,574 261,335 (158,726) 1,384,995 62,777 (16,309) 25,329 25,329 (30,135) (17,639) 1,414 (16,225) (5,944) 24,154 18,210 1,428,642 (318,915) 1,109,727 5,935,017 27,549,684 16,975,744 50,460,445 8,116,829 8,116,829 9,642,628 1,654,909 11,297,537 2,531,563 31,006 2,562,569 18,109,208 29,235,599 16,975,744 8,116,829 72,437,380 6,653,514 16,305,060 3,542,765 35,489 26,536,828 724,908 1,424,620 2,149,528 30,108 30,108 331,276 331,276 724,908 1,424,620 331,276 30,108 2,510,912 363,612 440,662 263,678 (144,390) 923,562 (27,880) (16,273) 482,477 482,477 38,199 38,199 (18,111) (12,689) 30,812 18,123 (3,153) 27,371 24,218 1,424,315 (612,823) 811,492 9,342,789 30,072,938 17,612,943 57,028,670 6,993,849 6,993,849 9,479,467 1,874,680 11,354,147 3,113,050 7,882 3,120,932 21,935,306 31,955,500 17,612,943 6,993,849 78,497,598 10,732,773 18,930,062 3,543,888 75,441 33,282,164 131 6,849 70,427 48 77,455 716 9,501 972,587 278 983,082 二零二二年中期報告 19

中期財務資料附註 5 3,470,967 758,472 1,920,763 1,752,440 5,391,730 2,510,912 2,977,167 2,978,471 13,800,110 14,348,478 16,777,277 17,326,949 6 5,052,004 2,149,528 317,764 331,276 21,962 30,108 5,391,730 2,510,912 7 175,753 197,904 539 363 176,292 198,267 (146,157) (180,156) 30,135 18,111 20 嘉華國際集團有限公司

8 139,232 83,052 48,745 4,555 103,074 25,791 9,259 12,492 31,162 7,421 3,631,540 1,219,024 263,563 139,773 237,000 313,000 13,035 13,595 3,274 2,678 4,239 3,983 17,155 17,880 9 153,316 53,310 114,651 112,779 31,364 318,124 (18) 19,602 128,610 318,915 612,823 16.5%16.5% 25%25% 30% 60% 二零二二年中期報告 21

中期財務資料附註 10 1,081,087 776,278 3,132,451,282 3,126,974,615 5,237,526 11 3,132,451,282 3,132,212,141 219,303,000 7 7 218,888,000 12 1,300,000 2,400,000 13 8,576 4,916 242,128 222,314 50,865 31,297 45,264 18,658 34,999 176,045 280,217 527,569 587,710 22 嘉華國際集團有限公司

13 5,223 2,336 2,664 505 474 26 215 2,049 8,576 4,916 14 4,881,910 5,755,119 1,889,338 2,381,444 6,771,248 8,136,563 15 5,000,000,000 500,000 5,000,000,000 500,000 3,130,234,615 313,023 3,126,974,615 312,697 2,660,000 266 3,132,894,615 313,289 3,126,974,615 312,697 2,660,000 二零二二年中期報告 23

中期財務資料附註 15 2.796 6,030,000 4.760 15,630,000 16,480,000 4.520 17,588,000 18,568,000 3.462 23,940,000 24,920,000 57,158,000 65,998,000 16 2,389,500 3,297,349 12,525,167 14,786,617 14,914,667 18,083,966 900,000 14,914,667 18,983,966 (6,560,433) (2,598,955) 8,354,234 16,385,011 24 嘉華國際集團有限公司

17 1,173,450 1,739,999 124,554 103,901 534,298 325,067 246,124 254,699 3,600 5,694 2,082,026 2,429,360 1,165,097 1,732,094 1,890 3,025 1,462 1,718 5,001 3,162 1,173,450 1,739,999 18 248,737 304,513 2,772,791 1,831,228 4,630,311 1,864,685 7,651,839 4,000,426 二零二二年中期報告 25

中期財務資料附註 19 10,677,706 6,034,181 12,736,762 7,670,048 2,664,050 1,259,989 980,000 683,885 1,616,492 1,616,492 1,807,975 1,807,975 14,958,248 8,910,662 15,524,737 10,161,908 29,663,000,000 29,943,000,000 9,359,000,000 10,089,000,000 2,664,000,000 980,000,00013,832,000,000 17,127,000,000 5,956,000,000 6,332,000,000 1,260,000,000 684,000,000 20 (a) 31,466,000 32,830,000 (b) 778,000 769,000 (c) 2,965,000 6,963,000 26 嘉華國際集團有限公司

其他資料 XV78 352 XV 31,005,941 8,317,120 (1) 334,612,213 (2) 1,675,533,769 (3) 2,049,469,043 65.42 11,138,035 1,675,533,769 (3) 1,686,671,804 53.84 27,457,605 210,000 (4) 1,675,533,769 (3) 1,703,201,374 54.37 17,851,428 4,005,183 (5) 1,675,533,769 (3) 1,697,390,380 54.18 849,175 849,175 0.03 1,052,726 1,052,726 0.03 1,040,000 1,040,000 0.03 160,000 160,000 0.01 (1) 8,317,120 (2) (3) (4) (5) 二零二二年中期報告 27

其他資料 2,900,000 2,900,000 4.760 3,000,000 3,000,000 4.520 3,100,000 3,100,000 3.462 1,300,000 1,300,000 (a) 2.796 1,300,000 1,300,000 4.760 1,300,000 1,300,000 4.520 1,300,000 1,300,000 3.462 1,000,000 500,000 (a) 500,000 2.796 2,900,000 2,900,000 4.760 3,000,000 3,000,000 4.520 3,100,000 3,100,000 3.462 2,800,000 500,000 (a) 2,300,000 2.796 2,900,000 2,900,000 4.760 3,000,000 3,000,000 4.520 3,100,000 3,100,000 3.462 160,000 160,000 4.760 160,000 160,000 4.520 160,000 160,000 3.462 160,000 160,000 4.760 160,000 160,000 4.520 160,000 160,000 3.462 160,000 160,000 (b) 2.796 160,000 160,000 4.760 160,000 160,000 4.520 160,000 160,000 3.462 160,000 160,000 3.462 (c) 770,000 200,000 (d) 570,000 2.796 5,720,000 650,000 5,070,000 4.760 7,438,000 730,000 6,708,000 4.520 13,680,000 980,000 12,700,000 3.462 280,000 200,000 80,000 4.760 350,000 250,000 100,000 4.520 28 嘉華國際集團有限公司

(a) 3.010 (b) 3.060 (c) 120,000 4.760 130,000 4.520 300,000 3.462 (d) 3.030 27(3) XV 二零二二年中期報告 29

其他資料 336 CWL Assets (PTC) Limited 1,675,533,769 53.48 HSBC International Trustee Limited 1,670,183,737 (1) 53.31 Super Focus Company Limited 1,120,247,673 35.76 Star II Limited 264,752,460 8.45 Favor Right Investments Limited 229,857,444 7.34 206,285,639 6.58 Premium Capital Profits Limited 184,229,079 5.88 (1) HSBC International Trustee Limited1,670,183,737 HSBC International Trustee Limited1,675,533,769 (i) Favor Right Investments Limited229,857,444(ii) Best Chance Investments Ltd.60,676,192(iii) Super Focus Company Limited1,120,247,673(iv) Premium Capital Profits Limited184,229,079 (v) 80,523,381 HSBC International Trustee Limited CWL Assets (PTC) Limited 1,675,533,769Super Focus Company Limited 1,120,247,673Best Chance Investments Ltd.60,676,192Favor Right Investments Limited229,857,444Premium Capital Profits Limited Star II Limited 184,229,079Star II Limited80,523,381 XV23 30 嘉華國際集團有限公司

13.22 13.22 2,444,681 680,714 97,862,933 26,730,596 (19,775,299) (6,305,725) 80,532,315 21,105,585 3,498,042 1,415,490 2,589,427 697,701 46,495,624 11,746,915 27,949,222 7,245,479 80,532,315 21,105,585 2410 二零二二年中期報告 31

其他資料 (i) B.2.2(ii) C.2.1 13.51B(1) GBM GBS OBE 183 17 1712 1716 K. Wah International Holdings Limited 32 嘉華國際集團有限公司

The information, drawings (including design concept drawings) and/or photos of the developments in Hong Kong (inclusive of the developments under construction) as provided in this Interim Report are for the purpose of the Interim Report of K. Wah International Holdings Limited ( KWIH ) (please refer to the sales brochures for details of the respective developments) and are not and do not form part of any advertisement purporting to promote the sale of any residential property, and do not constitute and shall not be construed as constituting any offer, representation, warranty, covenant or contractual term whether expressed or implied (whether related to the development, any residential property in the development, the standard provisions, fittings, finishes and appliances, etc. of any residential property, appearance, view, surrounding environment and facilities, and clubhouse facilities, etc. or not). No publishing or transfer to any third party is allowed without the prior written consent of KWIH and the respective vendors as stated in the sales brochures of the respective developments (each a Vendor ). For some of such developments or projects, permission for promotional activities and/or pre-sale consent is/are not yet applied for and/or issued and the time of issue of such permissions and pre-sale consents are not certain. All time schedule of sales launch set out herein are of the tentative sale schemes and are for reference only. KWIH and the respective Vendors do not represent or warrant the time of issue of such permissions and/or consents. KWIH and the respective Vendors shall not be liable for any reliance of these information, drawings and/or photos by any party for his/her decision on purchase of any residential property in the respective developments or otherwise. All photos, images, drawings or sketches in this Interim Report represent artists impressions of the respective developments or the part of the respective developments concerned only. They are not drawn to scale and/or may have been edited and processed with computerized imaging techniques. In respect of any design concept drawings of the respective residential developments contained in this Interim Report, they are products of computer renderings. Pipes, conduits, air-conditioners, grilles etc. which might exist on the external walls, flat roofs or roofs, etc. of the respective developments, and the surrounding environment and buildings of the respective developments have been omitted. The respective renderings do not simulate or reflect the actual appearance and the surrounding environment of the respective developments. The respective design concept drawings do not simulate or reflect the view from any part of the respective developments and the present or future condition of the surrounding environment and buildings of the respective developments. The layout, partition, specifications, dimensions, colour, materials, fittings, finishes, appliances, equipment, furniture, household accessories, display, decorations, signs, clubhouse facilities, sculptures, models, artwork, plant, trees, landscape design, lighting features and lightings, etc. shown in the respective design concept drawings might be different from those, if any, to be actually provided in the respective developments and that they might not appear in the part of the developments concerned. The respective Vendors reserve the right to alter, increase and reduce the above items and clubhouse and recreational facilities, which are subject to the agreements for sale and purchase. The respective Vendors reserve the right to alter the building plans and other plans from time to time, which are subject to the final approvals of the relevant Government authorities. The provision of clubhouses and recreational facilities are subject to the terms and conditions of the agreements of sale and purchase and the final approvals of the relevant Government authorities. The opening time and use of different clubhouses and recreational facilities are subject to the relevant laws, land grant conditions, terms of the deed of mutual covenant and the actual conditions of the facilities. The use and operations of some parts of the facilities and/or services may be subject to the consents or permits to be issued by the relevant Government authorities. The respective Vendors reserve the right to amend the use of the facilities and/or services which are shown or not shown or specified in the design concept drawings. Such facilities (including clubhouse and ancillary recreational facilities, etc.) may not be in operation when the respective developments can be occupied. The respective Vendors reserve the rights to alter the clubhouse facilities and the partition, design, layout and use thereof. Fees may be separately charged on the use of the clubhouse(s) and different recreational facilities. The existing, future or tentative buildings and facilities as shown in this Interim Report (if any) are subject to changes from time to time, and may not be completed or ready for operation when the relevant developments can be occupied, and their physical state after completion may be different from those as stated or shown in this Interim Report, and are for reference only.

INTERIM REPORT 2022 中期報告 2022 Delivering Value with Distinctive Quality