Hang Lung Properties Limited · HKEX:101
Hang Lung Properties — FY2023 Earnings Presentation
89 slides from Hang Lung Properties's earnings presentation, Jan 30, 2024
Slide 1: 2023 Annual Results Presentation
Home to Luxury at Plaza 66 - Nov 2023 The Phantom of the Opera at Grand Gateway 66 – May 2023 TAKE CENTER STAGE Gala Dinner at Centre 66 - Sep 2023 BE MY HEARTLAND at Heartland 66 – Sep 2023 Qr code Description automatically generated 2023 Annual Results Presentation January 2024
Slide 2: Please scan or click on the QR codes to view
Please scan or click on the QR codes to view 2023 Annual Results Presentation 2023 Annual Results Announcement ESG Presentation Hang Lung Properties Limited 2
Slide 3: Contents
Contents FY2023 Annual Results Highlights P.4 ESG Highlights P.15 CRM Highlights P.53 Mainland China Portfolio P.57 • Mall P.58 • Office P.63 • Hotel P.64 Hong Kong Portfolio P.65 Development Projects P.72 • Launching Pipeline for Mainland S.A. & HK Residential P.73 • Mainland China Serviced Apartme
Slide 4: FY2023 Annual Results Highlights
FY2023 Annual Results Highlights Hang Lung Properties (101.HK) Hang Lung Group (10.HK) Revenue Underlying Profit /(Loss) Revenue Underlying Profit /(Loss) 1-12/2023 YoY 1-12/2023 YoY change 1-12/2023 YoY 1-12/2023 YoY change (HK$mn) change (%) (HK$mn) (%) (HK$mn) change (%) (HK$mn) (%) Rental 10,316
Slide 5: FY2023 Financial Management
FY2023 Financial Management Key Financial Metrics Net debt to equity ratio Interest cover Average debt maturity Net debt Cash and bank deposits 31.9% 3.6x 3.0 years HK$45.3bn HK$5.4bn (end-2022: 28.1%) (2022: 4.6x) (2022: 3.2 years) (end-2022: HK$40.3bn) (end-2022: HK$5.2bn) Debt Portfolio HLP Avera
Slide 6: Revenue Contribution by Segments
Revenue Contribution by Segments HLP revenue contribution by segments (HK$mn) Revenue (FY23 RMB/HKD: -4.7% YoY) (HK$mn) 6,000 5,000 FY23 Mainland Rental: 4,000 RMB6,263mn / HK$6,967mn Accounts for 68% of total rental in RMB: +8% YoY / +9% vs FY21 3,000 in HKD: +3% YoY / flat vs FY21 2,000 FY23 HK Re
Slide 7: Mainland China Rental Revenue
Mainland China Rental Revenue HLP Mainland China overall rental revenue (RMB mn) and YoY change (%) Rental revenue YoY change (RMB mn) FY23 Mainland Rental Revenue: (%) RMB6,263mn (+8% YoY) 3,500 40% 3,000 2% 2% 1% 1% 2% 1% 18% 19% 30% 18% 19% 2,500 17% 20% 2,000 20% 1,500 10% 81% 80% 80% 79% 1,000
Slide 8: Mainland China Retail Rental Revenue
Mainland China Retail Rental Revenue HLP Mainland China retail rental revenue (RMB mn) and YoY change (%) YoY change Rental revenue (%) (RMB mn) FY23 Mainland Retail Rental Revenue: 50% RMB4,963mn (+8% YoY) 2,800 40% 2,300 30% 1,800 20% 1,300 10% 800 0% 300 -10% 1H21 2H21 1H22 2H22 1H23 2H23 Mainlan
Slide 9: Tenant Sales YoY Change in Mainland China Retail Portfolio (By category)
Tenant Sales YoY Change (%) in Mainland China Retail Portfolio (By category) Overall tenant sales Luxury malls Sub-luxury malls YoY change 2H23: FY23: 2H23: FY23: 2H23: FY23: (in RMB terms) +5% vs 2H22 +22% vs FY22 +7% vs 2H22 +23% vs FY22 +32% vs 2H22 +34% vs FY22 150% +3% vs 2H21 +11% vs FY21 +3%
Slide 10: Tenant Sales YoY Change in Mainland China Retail Portfolio (By geography)
Tenant Sales YoY Change (%) in Mainland China Retail Portfolio (By geography) Overall tenant sales Shanghai ex-Shanghai 2H23: FY23: 2H23: FY23: 2H23: FY23: YoY change +7% vs 2H22 +23% vs FY22 -1% vs 2H22 +25% vs FY22 +18% vs 2H22 +20% vs FY22 (in RMB terms) +3% vs 2H21 +11% vs FY21 -9% vs 2H21 -3% v
Slide 11: Mainland China Office Rental Revenue
Mainland China Office Rental Revenue HLP Mainland China office rental revenue (RMB mn) and YoY change (%) Rental revenue YoY change (RMB mn) FY23 Mainland Office Rental Revenue: (%) RMB1,161mn (+5% YoY) 600 25% 550 20% 500 15% 450 10% 400 5% 350 300 0% 1H21 2H21 1H22 2H22 1H23 2H23 Mainland Office r
Slide 12: CRM: 2023 Highlights
CRM: 2023 Highlights House 66 hello • Launched in 2019, spanning 10 Hang Lung projects in eight cities • Launched in 2021, the program offers bespoke shopping across Mainland China experiences to customers in Hong Kong Total valid members Member sales Total valid members Member sales (Up to Dec 23)
Slide 13: Hong Kong Rental Revenue
Hong Kong Rental Revenue HLP HK rental revenue (HK$mn) and YoY change (%) Rental revenue YoY change (HK$mn) (%) FY23 HK Rental Revenue: HK$3,349mn (+2% YoY) 2,000 10% 7% 7% 5% 1,600 7% 7% 8% 7% 0% 35% 1,200 34% 33% 33% -5% 34% 33% 800 -10% 59% 60% 60% -15% 58% 59% 59% 400 -20% 0 -25% 1H21 2H21 1H22
Slide 14: Key milestones on Sustainability in 2H2023
Key milestones on Sustainability in 2H2023 Resource utilization Tenant Partnerships scheme for Hang Lung’s Program on Sustainability Hong Kong Office • Announced a tenant Sustainable Finance Rejuvenation Project partnerships program including all types of tenants, • As of December 31, 2023, • Comple
Slide 15: ESG Highlights
ESG Highlights Sustainability Report 2022 Hang Lung Properties Limited 15
Slide 16: Upcoming Initiatives
Upcoming Initiatives Q1 Q2 Q3 2024 2024 2024 ➢ Real Estate & Climate ➢ Publish net-zero Forum with LVMH Group roadmap ➢ Publish Sustainability ▪ All three scopes of ➢ Publish second annual Report 2023 emissions Common Charter with ▪ Renewable energy LVMH Group (including ▪ Energy efficiency 20 susta
Slide 17: Sustainability Achievements in 2023
Sustainability Achievements in 2023 Green Supply Chain Corporate Information Transparency Index (CITI) Corporate Climate Action Transparency Index (CATI) CITI: 20.3 ESG risk rating: (industry ranking: 3rd out of 79) “Low” risk rating since 2020 4-star performance rating since 2021 CATI: 30.0 A grade
Slide 18: ESG Awards Received in 2023
ESG Awards Received in 2023 NEW IN 2023 Excellence Award in Environment, Excellence in Environmental Impact – Grand Award Bronze Award in the Hong Kong Sustainability Award Social and Governance Reporting Best ESG Report (Large-cap) – Commendation OSH Report Award Distinction Award (Large Cap) 2023
Slide 19: Board Engagement and Diversity
Board Engagement and Diversity Highly engaged (as of December 31, 2023) ▪ 6 regular Board meetings/year (100% attendance) ▪ 4 Audit Committee meetings/year (93% attendance) ▪ 4 meetings of Audit Committee members with external auditor without the presence of management Board diversity of Hang Lung P
Slide 20: A Clear Agenda for the Short, Medium and Long Term
A Clear Agenda for the Short, Medium and Long Term ▪ Set Strategic ESG ▪ Define concrete and ▪ Goals: Provide broad ▪ Reach net-zero value KPIs across the quantifiable measures principles governing our chain greenhouse gas Group tied to for all employees for the efforts emissions by no later departm
Slide 21: Commitment to SBTi Net-Zero Standard: Net Zero Emissions by 2050
Commitment to SBTi Net-Zero Standard: Net Zero Emissions by 2050 • First real estate company in Hong Kong and mainland China to receive approval from the Science Based Targets initiative (SBTi) for its near- and long-term company-wide emissions reduction targets in line with the SBTi Net-Zero Standa
Slide 22: 2030 Sustainability Goals and Targets
2030 Sustainability Goals and Targets ▪ In December 2020, we announced our overarching ambition to become one of the most sustainable real estate companies in the world by 2030, supported by four goals and ten targets to achieve by 2030 CLIMATE RESOURCE SUSTAINABLE WELLBEING RESILIENCE MANAGEMENT TR
Slide 23: 25 x 25 Sustainability Targets
25 x 25 Sustainability Targets ▪ Targets are tied to compensation through departmental and individual KPIs and semiannual performance reviews CLIMATE RESOURCE SUSTAINABLE WELLBEING RESILIENCE MANAGEMENT TRANSACTIONS ▪ Greenhouse gas (GHG) ▪ Water efficiency of ▪ Employee engagement ▪ Assessment of s
Slide 24: Strategic ESG KPIs for 2023
28 Strategic ESG KPIs for 2023 ▪ The strategic ESG KPIs cascade down to expectations for individual employees and are tied to the semiannual performance appraisal process Climate Resilience (7) Resource Management (6) Wellbeing (9) Sustainable Transactions (5) ▪ Scopes 1, 2 and 3 GHG ▪ Reduce constr
Slide 25: Scope 1 & 2 GHG Emissions
Scope 1 & 2 GHG Emissions 2022 Progress Achieved a 38.28% GHG emissions intensity reduction compared to our 2018 baseline. Further details on the factors contributing to the 38.28% reduction are as follows: ▪ 16.35% from energy efficiency and onsite renewable energy, ▪ 11.22% (5.81%) from grid decar
Slide 26: Scope 3 GHG Emissions
Scope 3 GHG Emissions 2022 Progress Breakdown of Carbon Emissions by Scope in 2022 ▪ Refined and enhanced our inventory calculation to develop a more comprehensive Scope 3 emissions disclosure ▪ Included finance- and investment-related emissions and employee commuting emissions in the accounting bou
Slide 27: Scope 3 GHG Emissions Update
Scope 3 GHG Emissions Update Planned Improvements by 2025 Examine Blind Spots Find More Reduction More Granular in Tenant Areas Opportunities Measurement & Disclosure Go deeper into neglected Engage partners to move Two more applicable categories forward areas from 2023 • Embodied carbon from tenant
Slide 28: Scope 3 Emissions Update
Scope 3 Emissions Update Enhanced Scope 3 disclosures. Provided a full inventory of our scope 3 emissions for the first time in Sustainability Report 2022 Invited by HKEX to share our climate disclosure practices alongside MTR and HSBC Hang Lung Properties Limited 28
Slide 29: Sustainability Partnership with LVMH
Sustainability Partnership with LVMH First-of-Its-Kind Sustainability Partnership Between Landlord and Tenants ▪ We launched a pioneering and ambitious three-year partnership Covers 8 properties in with LVMH Group to collaborate on sustainability initiatives mainland China across seven cities in mai
Slide 30: Sustainability Partnership with LVMH
Sustainability Partnership with LVMH We Co-Created Solutions at our Real Estate & Climate Forum Our inaugural two-day innovative event in November 2022 generated over 200 ideas for tackling real estate & retail sustainability challenges Stakeholder Collaboration Formed sustainability partnership wit
Slide 31: LVMH Common Charter
LVMH Common Charter (launched in March 2023) 20 Actions to Accelerate Sustainability Progress in 2023 Climate Resilience Resource Management People and Wellbeing Sustainability Governance Hang Lung Properties Limited 31
Slide 32: Sustainability Partnership with LVMH
Sustainability Partnership with LVMH Also Collaborating with Specific Brands under LVMH Partnership Panel on Fashion, Innovation and Circularity – with Stella McCartney • Evolution of conservation efforts in China • Purpose-driven innovation in sustainable retail • Sustainability in real estate incl
Slide 33: Building a Tenant Partnership Program
Building a Tenant Partnership Program Building on our sustainability partnership with LVMH, we are developing a Tenant Partnership Program to invite more 2-Tier Recognition Program tenants to collaborate on sustainability. The program will address important sustainability issues in the built environ
Slide 34: Changemakers: Tenant Partnerships on Sustainability
Changemakers: Tenant Partnerships on Sustainability Category No. Foundational Advanced • Share monthly energy data as well as data from • Share monthly energy consumption data Energy measurement #1 submeters Climate Resilience • Participate in energy benchmarking • Participate in energy benchmarking
Slide 35: Sustainable Procurement & Supplier Engagement Plan 2023-25
Sustainable Procurement & Supplier Engagement Plan 2023-25 Priority tasks in the next two years Timeline 2023 2024 2025 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Sustainable Working with a consultant and LVMH to Stakeholder review exchange best practices and improve Procurement sustainable procurement and update S
Slide 36: Climate Adaptation Roadmap to 2050
Climate Adaptation Roadmap to 2050 2023: Grand Gateway 66, Forum 66 (include SY3), Heartland 66, Spring City 66 2024: Palace 66, Parc 66, Olympia 66 2022 Progress Plans ▪ Conducted climate hazard and vulnerability ▪ Conduct the assessment for other mainland China and assessment and adaptation strate
Slide 37: Climate Adaptation
Climate Adaptation Our program goes beyond assessments from climate models ▪ We analyze risks from flooding, typhoon and extreme rain, heat waves and rain-induced landslides and will cover 100% of mainland China properties and core properties in Hong Kong by 2024 ▪ Our analysis of risks starts with
Slide 38: Climate Adaptation: Riverside 66, Tianjin
Climate Adaptation Case Study: Riverside 66, Tianjin ▪ We conduct a deep dive analysis for properties that have a higher residual risk to identify risk reduction measures ▪ Our Riverside 66 property in Tianjin is highly exposed to flooding risks and was affected by heavy rainfall events in recent ye
Slide 39: Electricity Intensity Reduction
Electricity Intensity Reduction Electricity intensity reduction from 2018-2022 Case study: High Efficiency Heat Pump Installation at Conrad Shenyang at Forum 66 Key internal measures Retro- Use of passive AI Pilot Commissioning radiative cooling paint Use of AI diagnosis Since the system’s deploymen
Slide 40: Resource Management Plan – Water Management
Resource Management Plan – Water Management WATER MANAGEMENT Hong Kong • Conducted feasibility study to install highly efficient water restrictors and water recycling facilities Mainland • Installed highly efficient water restrictors at three Mainland properties • Concluded to prioritize AC condensa
Slide 41: Resource Management Plan – Biodiversity
Resource Management Plan – Biodiversity BIODIVERSITY Hong Kong ▪ Baseline flora and fauna survey: conducting survey at Peak Galleria to identify opportunities for ecological conservation Mainland ▪ Biodiversity study: conducted study for our development project Westlake 66 – identified suggestions f
Slide 42: Green Building Certifications
Green Building Certifications Pre-certifications ~80% construction floor Hangzhou – Westlake 66 area certified to LEED / BEAM Plus Gold or above ▪ LEED Platinum: Office Tower 1 & 2 ▪ LEED Gold: Shopping Mall, Tower 3, 4 & 5, Hotel Received 40 green building certifications or pre-certifications ▪ CGB
Slide 43: Wellness Certifications
Wellness Certifications ▪ Nearly 64% of the total construction floor area (for both existing properties and projects under development) is certified with or has applied for WELL and WELL Health and Safety Rating ▪ Planning to expand WELL HSR coverage Certified Pre-certified • WELL Platinum rating: P
Slide 44: Sustainability Learning
Sustainability Learning Department-specific training by topics 2025 Target 13% 25% Deliver priority ESG training targeted to all departments and seniority levels 18% 13% 2023 ESG KPI 6% 500 hours of ESG training for specific 13% 12% departments including 100 hours focused on delivering climate-relat
Slide 45: Health & Safety Program
Health & Safety Program GOVERNANCE TRAINING EDUCATION • Established a Health and • 2023 ESG KPI: Provide health • Launched a series of workplace Safety Subcommittee and safety training to 100% of safety activities at our Hong Kong employees in mainland China and Mainland properties to • Met twice a
Slide 46: Sustainability Learning – Selected Examples
Sustainability Learning – Selected Examples Renewable energy policy Water management and developments and electricity price water stress projections Sustainable Net-zero procurement Hang Lung Properties Limited 46
Slide 47: Community Investment
Community Investment Hang Lung Hang Lung Mathematics Awards (HLMA) Future Women Leaders Program • Founded in 2004, the biennial • A nationwide community investment project in mainland China and Hong Kong HLMA aims to empower secondary • Empowers women’s development and reinforces Hang Lung’s commitm
Slide 48: Community Investment
Community Investment The Hang Lung Scholarship and Hang Lung x HKYWCA Development Donation for the “Love·No·Limit” Hang Lung Visually Impaired Dementia Friendly Program As One volunteer teams • Partnered with the Ebenezer School & • A three-year scheme to offer support • Over 1,500 active volunteers
Slide 49: Community Investment
Community Community Investment Investment Chair Mr. Ronnie Chan awarded the Grand Chair Mr. Ronnie Chan awarded the 2018 Dwight Bauhinia Medal (GBM), the highest honor D. Eisenhower Global Leadership Award bestowed, by the Government of the Hong Kong by the Business Council for International Underst
Slide 50: Community Investment
Community Community Investment Investment Rebuilding of Jianfu Palace Garden & Hang Lung Center for Real Estate, The Hall of Rectitude Complex in Beijing Tsinghua University, Beijing • Projects funded by the China Heritage Fund, a non-profit • The Hang Lung Center for Real Estate serves as an organi
Slide 51: Chan Family's Philanthropy
Chan Family’s Chan Family’s Philanthropy Philanthropy Harvard T.H. Chan School of Public Health University of Southern California • The Morningside Foundation, founded by Chair Mr. Ronnie • Chair Mr. Ronnie Chan and his wife Chan and Non-Executive Director of Hang Lung Group Mrs. Barbara Chan made a
Slide 52: Sustainable Finance
Sustainable Finance Sustainable finance reached 55% of Sustainable Finance HLP’s total debts and available facilities in 2023 • Arranged Sustainable finance amounting to 55% HK$36.4 billion as at December 31, 2023 60% 50% 46% • Accounted for 55% of total debts & available facilities (as of December
Slide 53: CRM Highlights
CRM Highlights Hang Lung Properties Limited 53
Slide 54: Experience Exclusiveness Engagement
EXPERIENCE EXCLUSIVENESS ENGAGEMENT Hang Lung Properties Limited 54
Slide 55: HOUSE – Build Hang Lung Branded Experience
HOUSE 66 – Build Hang Lung Branded Experience Spanning 10 Hang Lung projects in eight cities across Mainland China EXPERIENCE EXCLUSIVENESS Exclusive Privilege Highlights • VIP lounge • Valet parking • Hands-free service • Dedicated parking space • Personalized birthday parties • 3rd party partnersh
Slide 56: hello – Build Hang Lung Branded Experience
hello – Build Hang Lung Branded Experience Offering bespoke shopping experiences to customers in Hong Kong MEMBER ENGAGEMENT PROGRAM OFFERING • Launch of hello dollar in May 2023 • Launch of hello mini program in Aug 2023 • Weekly hello Thursday limited offers • Sales promotions & exclusive privileg
Slide 57: Mainland China Portfolio
Mainland China Portfolio Hang Lung Properties Limited 57
Slide 58: Luxury Malls in Shanghai
Luxury Malls in Shanghai Plaza 66 @ Shanghai 24% YoY 100% (same vs end-22) 2023 Tenant Sales Mall Occupancy Grand Gateway 66 @ Shanghai 30% YoY 99% (same vs end-22) 2023 Tenant Sales Mall Occupancy Note: Occupancy rate as at Dec 31, 2023 and end-22 refers to Dec 31, 2022 Hang Lung Properties Limit
Slide 59: Luxury Malls outside Shanghai
Luxury Malls outside Shanghai Center 66 @ Wuxi 19% YoY 98% (1% vs end-22) 2023 Tenant Sales Mall Occupancy ◄ Opened in Jan 2024 Olympia 66 @ Dalian 29% YoY 90% (1% vs end-22) 2023 Tenant Sales Mall Occupancy Note: Hang Lung 59 Occupancy Properties rate as at Dec 31, 2023 and end-22 refers to Dec
Slide 60: Luxury Malls outside Shanghai
Luxury Malls outside Shanghai 100% Powered by Renewable Spring City 66 @ Kunming Energy 8% YoY 98% (3% vs end-22) 2023 Tenant Sales Mall Occupancy Heartland 66 @ Wuhan 20% YoY 82% (4% vs end-22) 2023 Tenant Sales Mall Occupancy Note: Occupancy rate as at Dec 31, 2023 and end-22 refers to Dec 31,
Slide 61: Luxury / Sub-luxury Malls outside Shanghai
Luxury / Sub-luxury Malls outside Shanghai Forum 66 @ Shenyang 9% YoY 81% (6% vs end-22) 2023 Tenant Sales Mall Occupancy Palace 66 @ Shenyang 44% YoY 90% (9% vs end-22) 2023 Tenant Sales Mall Occupancy Note: Occupancy rate as at Dec 31, 2023 and end-22 refers to Dec 31, 2022 Hang Lung Propertie
Slide 62: Sub-luxury Malls Outside Shanghai
Sub-luxury Malls Outside Shanghai 100% Powered by Parc 66 @ Jinan Renewable Energy 25% YoY 93% (3% vs end-22) 2023 Tenant Sales Mall Occupancy Riverside 66 @ Tianjin 41% YoY 90% (10% vs end-22) 2023 Tenant Sales Mall Occupancy Note: Occupancy rate as at Dec 31, 2023 and end-22 refers to Dec 31,
Slide 63: Mainland China Office Portfolio
Mainland China Office Portfolio Plaza 66 Forum 66 Center 66 Spring City 66 Heartland 66 Shanghai Shenyang Wuxi Kunming 100% Wuhan Powered by Renewable Energy Office 96% 89% 85% 88% 76% Occupancy (same vs end-22) (2% vs end-22) (same vs end-22) (same vs end-22) (3% vs end-22) Other • Conrad • HANGO
Slide 64: Mainland China Hotel Portfolio
Mainland China Hotel Portfolio 2019 2024 2025 Opened Targeted opening Targeted opening Conrad Shenyang Grand Hyatt Kunming Curio Collection by Mandarin Oriental (at Forum 66) (at Spring City 66) Hilton Hangzhou (at Center 66) (at Westlake 66) Note: The photographs, images, drawings or sketches shown
Slide 65: Hong Kong Portfolio
Hong Kong Portfolio Hang Lung Properties Limited 65
Slide 66: Hong Kong Rental Performance
Hong Kong Rental Performance Hong Kong Rental Revenue (HK$mn) Hong Kong Occupancy Rate (%) Occupancy Rental revenue FY2023: Rate (%) (HK$mn) HK$3,349mn 120% 4,000 95% 100% Resi.&S.A.: Resi.&S.A.: 89% 8% of total 7% of total 80% 3,000 Office: 77% 33% of total Office: 60% 2,000 33% of total 40% Retail
Slide 67: Hong Kong Investment Properties
Hong Kong Investment Properties Central Portfolio • Comprising 4 office buildings with a diversified tenant profile • Form a thriving fine-dining hub in Central Formed a fine-dining hub Standard Chartered Bank Building 1 Duddell Street New F&B opened in 2H23 in 1 Duddell Street Printing House Basker
Slide 68: Hong Kong Investment Properties
Hong Kong Investment Properties Causeway Bay Portfolio Peak Galleria • An elite shopping destination featuring numerous • A tourist landmark, with pet-friendly internationally renowned fashion, beauty, and lifestyle features to attract local pet lovers brands Fashion Walk • A variety of F&B and ente
Slide 69: Hong Kong Investment Properties
Hong Kong Investment Properties Kornhill Plaza / Mongkok Portfolio Amoy Plaza Kornhill Apartments • Continued to solidify the area’s • A one-stop community hub • A community mall in position as the place “Where in Kowloon East Quarry Bay offering the Trends Meet” largest Japanese department store in
Slide 70: Hong Kong Investment Properties
Hong Kong Investment Properties 228 Electric Road, North Point completed in 1H 2023 • Grade A office tower / Retail area on podium floors • Commence to generate revenue in May 2023 Scan to view the website A qr code on a white background Description automatically generated Note: The photographs, ima
Slide 71: Hong Kong Residential Properties (Investment Properties)
Hong Kong Residential Properties (Investment Properties) Burnside Villa @ Southern District The Summit @ Mid-Levels • Total no. of units: 56 units • Total no. of units: 54 duplex suites • Renovation commenced in Sep 2023 Hang Lung Properties Limited 71
Slide 72: Development Projects
Development Projects Hang Lung Properties Limited 72
Slide 73: Launching Pipeline: Serviced Apartments in Mainland China & HK Residential
Launching Pipeline: Serviced Apartments in Mainland China & HK Residential Pipeline 2021-2022 2023 2024 2025 + Mainland China Heartland Residences • Topped-out (2021) • Completion certificates obtained in Oct Grand Hyatt Residences • Topped-out (2022) • Targeted Kunming completion Center • Topped-ou
Slide 74: Mainland China Serviced Apartments
Mainland China Serviced Apartments Heartland Residences Grand Hyatt Residences Kunming Office Panlong District Qiaokou District Tower Residences (the central business and / Hotel commercial hub of Kunming) 254 apartments 492 Residences including Mall (28-57/F) Total no. of units 3 premium penthouses
Slide 75: Mainland China Serviced Apartments
Mainland China Serviced Apartments Center Residences Forum Residences Shenhe District Liangxi District Comprises part of 573 the Forum 66 Total no. of units development Design and 2025 planning works Targeted completion are underway 2028+ Targeted completion Hang Lung Properties Limited 75
Slide 76: Hong Kong Residential at Prime Locations
Hong Kong Residential at Prime Locations For Sale The Aperture (targeted completion in 1H2024) For Sale 23-39 Blue Pool Road (Completed) Shouson Hill Road Redevelopment (under development) Investment Properties • The Summit • Burnside Villa • Approx. 47,397 sq ft total GFA Investment Properties Prop
Slide 77: Hong Kong Residential (under development)
Hong Kong Residential (under development) The Aperture Shouson Hill Road Redevelopment Kowloon Bay Southern District 294 Approx. 47,397 sq ft Total no. of units Total GFA 168 unsold units as at Dec 31, 2023 General building plan was approved in 2024 Aug 2022 Targeted completion • Pre-sale launched i
Slide 78: Hong Kong Residential (completed)
Hong Kong Residential (completed) 23-39 Blue Pool Road Happy Valley 8 semi-detached houses for SALE 2 semi-detached houses for LEASE No. of unsold units as at Dec 31, 203 4,571 – 4,599 sq ft Saleable area per unit • 3 floors plus roof floor • 5 luxury en-suites • Private elevator and garage Project
Slide 79: Mainland China Projects Under Development
Mainland China Projects Under Development Spring City 66 Westlake 66 Center 66 Forum 66 Kunming Hangzhou Wuxi Shenyang Location Dongfeng Dong Road, Bai Jing Fang, Renmin Zhong Road & Qingnian Street, Shenhe Panlong District Gongshu District Jiankang Road, Liangxi District District Land use right sig
Slide 80: Westlake 66 in Hangzhou
Westlake 66 in Hangzhou Completion by phases from 2024 onwards Location Bai Jing Fang, Gongshu District A retail podium, five Grade A office Usage towers, and Mandarin Oriental Hangzhou Total: 4.2mn sq ft Retail: 0.8mn sq ft Total gross floor area Office: 1.0mn sq ft Hotel: 0.3mn sq ft Carparks and
Slide 81: Appendix
Appendix Hang Lung Properties Limited 81
Slide 82: HLP - Mainland China Rental Revenue Breakdown
HLP - Mainland China Rental Revenue Breakdown Year ended December 31, 2023 Rental Revenue (RMB mn) • Mall Rental Revenue (YoY change) Name of project City Mall Office Hotel Total Grand Gateway 66 Plaza 66 mall Luxury malls mall Plaza 66 Shanghai 1,755 668 - 2,423 10% YoY 6% YoY Grand Gateway 66 S
Slide 83: Hang Lung Properties – Financial Highlights
Hang Lung Properties – Financial Highlights 1-12/2023 1-12/2022 Property Property Property Property Total Leasing Sales Total (HK$mn) Leasing Sales Revenue 10,316 - 10,316 10,031 316 10,347 - Mainland China 6,967 - 6,967 6,752 - 6,752 - Hong Kong 3,349 - 3,349 3,279 316 3,595 Operating Profit / (Los
Slide 84: Hang Lung Properties – Financial Position
Hang Lung Properties – Financial Position (HK$mn) 31/12/2023 31/12/2022 Investment Properties 169,046 167,861 - Mainland China 107,219 107,934 - Hong Kong 61,827 59,927 Investment Properties under development 23,610 22,703 Properties for sale 14,223 11,668 Cash and bank deposits 5,352 5,229 Total Bo
Slide 85: Hang Lung Group – Financial Highlights
Hang Lung Group – Financial Highlights 1-12/2023 1-12/2022 Property Property Property Property Total Leasing Sales Total (HK$mn) Leasing Sales Revenue 10,879 2 10,881 10,625 316 10,941 - Mainland China 7,399 - 7,399 7,218 - 7,218 - Hong Kong 3,480 2 3,482 3,407 316 3,723 3,92 Operating Profit / (Los
Slide 86: Hang Lung Group – Financial Position
Hang Lung Group – Financial Position (HK$mn) 31/12/2023 31/12/2022 Investment Properties 177,458 176,381 - Mainland China 113,835 114,648 - Hong Kong 63,623 61,733 Investment Properties under development 23,610 22,703 Properties for sale 14,244 11,689 Cash and bank deposits 6,343 5,785 Total Borrowi
Slide 87: Investment Property Portfolio: HLG
Investment Property Portfolio: HLG Note: Properties held via HLP are excluded from this session 9 Wing Hong Street Luen Cheong Can Centre Tai Hing Gardens Grand Gateway 66 Cheung Sha Wan, HK Tuen Mun, HK Tuen Mun, HK Puxi, Shanghai Usage • Office • Office • Retail portion • Office Tower I & Serviced
Slide 88: Grand Gateway 66, Above Xujiahui Subway Station, Puxi, Shanghai
Grand Gateway 66, Above Xujiahui Subway Station, Puxi, Shanghai Rental Revenue Occupancy (Year ended Dec 31, 2023) (at Dec 31, 2023) Office Tower I RMB240mn 86% 4% YoY Residential & Serviced RMB148mn 89% Apartments 1% YoY Mall (held via HLP) RMB1,213mn 99% 6% YoY Hang Lung Properties Limited 8
Slide 89: Thank You
Thank You Disclaimer 1. All information and data are provided for information purposes only. All opinions included herein are based on information available as of the date hereof and are subject to change without notice. There is no guarantee, representation or warranty provided for accuracy, timeli