K. Wah International Holdings Limited · HKEX:173
K. Wah International — FY2024 Earnings Presentation
31 slides from K. Wah International's earnings presentation, Mar 27, 2025
Slide 1: 2024 Annual Results
www.kwih.com KT Marina, Hong Kong Sierra, Nanjing 2024 Annual Results 27 March 2025 Delivering Value with Distinctive Quality 1
Slide 2: Disclaimer
Disclaimer Some information contained in this presentation has been obtained from public sources that are believed to be reliable but has not been independently verified. There is no guarantee, representation or warranty provided for the accuracy or completeness for the information contained in this
Slide 3: Results highlights
KT Marina, Hong Kong Sierra, Nanjing Results highlights 3
Slide 4: Financial Highlights
Financial Highlights For the year ended 31 Dec (HK$ million) Change 2024 2023 Revenue 7,187 6,103 +18% Attributable Revenue* 8,426 11,960 -30% Profit Attributable to Equity Holders 335 802 -58% Underlying Profit 361 769 -53% Basic EPS (HK cents) 10.63 25.60 -59% Dividend / share (HK cents) 9 16 -44%
Slide 5: Financial Highlights - Solid Financial Position
Financial Highlights - Solid Financial Position As at 31 Dec As at 31 Dec (HK$ million) Change 2024 2023 Total Assets 66,371 72,507 -8% Cash and Cash Equivalents 9,649 7,496 +29% Total Debts 14,563 15,182 -4% Net Debts 4,914 7,686 -36% Shareholders’ Funds 40,079 42,328 -5% Gearing Ratio(1) 12% 17% -
Slide 6: Financial Highlights - Discipline in Financial Management
Financial Highlights - Discipline in Financial Management • Total debts maintained at HK$14.6 billion (HK$15.2 billion @ Dec 2023) (Cash on hand: HK$9.7 billion; Net debts: HK$4.9 billion) as at 31 Dec 2024: 1 year 26% RMB Fixed rate# 51% 51% >5 years Maturity Currency Fixed#/Floating 2% 2-5 years H
Slide 7: Revenue for the Period – Quality Projects Engender Strong Performance
Revenue for the Period – Quality Projects Engender Strong Performance • Attributable revenue* from sales of properties amounted to HK$7.7 billion in 2024, mainly from the below projects: K.Summit Sierra 嘉峯匯 嘉璟峰 Nanjing Hong Kong Grand Victoria Cosmo 維港滙 嘉云匯 Guangzhou * Attributable revenue comprises
Slide 8: Contracted Sales for the Year – Visible Contracted Sales Provide Sustainability
Contracted Sales for the Year – Visible Contracted Sales Provide Sustainability • Despite the slow economy, the Group continued to launch its quality projects, HK$6.9 billion attributable contracted sales* were achieved in 2024 (+17% vs 2023) HK$5.0 billion sales to PRD 8% HK$1.9 billion sales be bo
Slide 9: Avenir in Shanghai
Avenir in Shanghai 嘉俊庭(60%) 上海華涇項目(住宅) Launched on 25 Feb 2024 (All units were pre-sold in 2024) 9
Slide 10: Sierra In Nanjing
Sierra In Nanjing 南京嘉璟峰 Sierra 竣工証 was obtained on 15 Aug 2024 (Approximately 95% of the launched units sold as of year-end.) 10
Slide 11: Diversified Investment Portfolio Provides Recurring Income and Stable Cashflow
Diversified Investment Portfolio Provides Recurring Income and Stable Cashflow • Rental income, including hotel receipts, rose 0.7% yoy to HK$734 million in 2024, despite RMB depreciation • Diversified portfolio: office, commercial, serviced apartments and hotel with total attributable GFA ~310,000
Slide 12: Key Awards in 2024 – Endorsement of KWIH's Brand and Product Excellence
Key Awards in 2024 – Endorsement of KWIH’s Brand and Product Excellence KT Marina, Hong Kong • 2024 – 2025 Asia Pacific Property Awards — WYSH, Shanghai “Best Residential High Rise Development Hong Kong" and • Best New Fashion and Cultural Landmark "Award Winner of Landscape Architecture Hong Kong"
Slide 13: Key Awards in 2024 – Endorsement of KWIH's Brand and Product Excellence
Key Awards in 2024 – Endorsement of KWIH’s Brand and Product Excellence K. Wah International Holdings Limited Citta Residences, Shanghai • BCI Asia Hong Kong’s Top 10 Developers 2024 • Serviced Apartments of Readers’ Choice 2023 • Caring Company • Serviced Apartments of the Year 2023 • Corporate Bra
Slide 14: Strategy and Outlook
Grand Mayfair, Hong Kong Cosmo, Guangzhou Strategy and Outlook 14
Slide 15: Premium Assets in Prime Cities
Premium Assets in Prime Cities Hong Kong Yangtze River Delta Pearl River Delta Shanghai Nanjing Suzhou Guangzhou Jiangmen 2 Grampian Road Avenir Cavendish Avanti K. Wah Plaza J City Grand Victoria Cosmo Ziwei Gongguan The Palace Sierra VETTA Dongguan Grand Mayfair Bayview KT Marina • Continue to mon
Slide 16: Development Portfolio – Projects & Land Bank (Hong Kong)
Development Portfolio – Projects & Land Bank Hong Kong Development projects • Attributable GFA: ~1.2 million sqft, covering, inter alia, 1 Solaria 嘉熙 2 projects in Kai Tak Area – Becoming a comprehensive community 2 2 Grampian Road 嘉琳 3 projects with rails connected – Convenient access to city c
Slide 17: Development Portfolio – Projects & Land Bank (Yangtze River Delta)
Development Portfolio – Projects & Land Bank Yangtze River Delta region • Attributable GFA: ~560,000 sqm, covering, inter alia, 南京市 The comprehensive development projects in Shanghai Nanjing City and Nanjing for residential, apartment, office, retail and hotel 上海市 Shanghai City 3 2 1 6 5 4 Develop
Slide 18: Development Portfolio – Projects & Land Bank (Pearl River Delta)
Development Portfolio – Projects & Land Bank Pearl River Delta region • Attributable GFA: ~740,000 sqm, covering, inter alia, J City in Jiangmen, a project completed, and Cosmo in Guangzhou under development in phases, both launched 3 Development projects 4 Integrated Project, Huadu District, 1 Gu
Slide 19: Sales pipeline in Hong Kong
Sales pipeline in Hong Kong Project Attri. GFA (sqft) (approx) Large-scale KT Marina, Kai Tak (launched KT Marina 1) 430,000# joint ventures Grand Mayfair, Yuen Long (launched Grand Mayfair I & II) 411,000* Villa Garda, Tseung Kwan O (launched) 287,000 Wholly-owned 2 Grampian Road, Kowloon (launched
Slide 20: Sales pipeline in Hong Kong – cont'd
Sales pipeline in Hong Kong – cont’d Project Attri. GFA (sqft) (approx) Large-scale Kai Tak Area 4A Site 2 (obtained pre-sale consent) 120,000 joint ventures LOHAS Park Package 13, Tseung Kwan O 387,000 (obtained pre-sale consent) Villa Garda, Tseung Kwan O Kai Tak Area 4A Site 2 LOHAS Park Package
Slide 21: Sales pipeline in the Mainland
Sales pipeline in the Mainland Location Project Attri. GFA (sqm) (approx) Nanjing Sierra (嘉璟峰), Jianye District 24,000^ (Last block of residential portion of Site 2020G72, Hexi New Town) Nanjing Site 2020G72, Hexi New Town, Jianye District 31,000 (Phase I – Office portion) Nanjing Site 2020G72, Hexi
Slide 22: Launched projects momentum continues
Launched projects momentum continues • Continued sales momentum of the launched projects in Hong Kong and the Mainland such as Hong Kong: Solaria Shanghai: The Palace, Grand Summit, Navale Nanjing: Sierra, Cavendish Suzhou: Avanti, VETTA Guangzhou: Cosmo Dongguan: Bayview Jiangmen: J C
Slide 23: Building up Investment Portfolio
Building up Investment Portfolio • WYSH(翡悅里), the Wuyi Road urban redevelopment commercial/office project in Shanghai with a GFA of 13,300 sqm. Operation commenced in 2024 with around 90% of the commercial portion was leased. • Cosmo Avenue, the commercial portion at COSMO with a GFA of 23,000 sqm.
Slide 24: Building up Investment Portfolio – cont'd
Building up Investment Portfolio – cont’d • On top of the existing portfolio of attributable GFA ~310,000 sqm, total GFA of ~200,000 sqm for offices, commercial premises, serviced apartments and hotel, within the Nanjing comprehensive development, to be developed in phases. • Joint venture comprehen
Slide 25: Solid Foundation for Long-term Sustainability
Solid Foundation for Long-term Sustainability 1 Encouraging sales underpins results ahead 6 2 Solid financial position High visibility of project fuels future growth pipeline with enhanced asset turn 5 3 Disciplined land Expansion in recurring replenishment at income portfolio to opportune time to d
Slide 26: Appendix: Projects Summary
Villa Garda, Hong Kong Appendix: Projects Summary 26
Slide 27: Major Development Projects in Hong Kong
Major Development Projects in Hong Kong Year of first sales launch GFA# % Sold Group’s Target KWIH’s Property Portfolio (sqm) as of 2024 or before 2025 or beyond Interest completion (approx.) Dec 2024 Solaria 嘉熙 61,600 ~ 99% 100% Completed 2 Grampian Road 嘉琳 2,000 20% 100% Completed 30 Po Shan R
Slide 28: Major Development Projects in Yangtze River Delta region
Major Development Projects in Yangtze River Delta region Year of first sales launch GFA % Sold Group’s Target KWIH’s Property Portfolio (sqm) as of 2024 or 2025 or Interest completion (approx.) Dec 2024 before beyond Phase I Ph I: 33,000 ~ 99% The Palace, Xuhui District, Shanghai Phase II Ph II:
Slide 29: Major Development Projects in Pearl River Delta region
Major Development Projects in Pearl River Delta region Year of first sales launch GFA % Sold Group’s Target KWIH’s Property Portfolio 2024 or 2025 or (sqm) as of Interest completion before beyond (approx.) Dec 2024 Integrated Project, Huadu District, Guagnzhou 廣州花都大型綜合項目 99% Phase I Ph I: 187,000
Slide 30: Major Investment Properties
Major Investment Properties GFA Group’s Status / KWIH’s Investment Properties Type (sqm) Interest Target completion (approx.) J SENSES Commercial 3,400 100% Completed Chantilly 肇輝臺6號 Residential 4,700 100% Completed Hong Kong Commercial Complex at Twin Peaks 嘉悅商業項目 Commercial 3,500 100% Completed Sh
Slide 31: Thank You!
Thank You! 31
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