Lai Sun Garment (international) Ltd. · HKEX:191

Lai Sun Garment (international) — H1 FY2019 Earnings Presentation

113 slides from Lai Sun Garment (international)'s earnings presentation, April 2019

  1. Slide 1: 2019 Interim Result Presentation and Corporate Update

    2019 Interim Result Presentation and Corporate Update April 2019 Lai Sun Group © All rights reserved

  2. Slide 2: Contents

    Contents Contents 1. Group Overview 2. Property Operations Update 3. 2019 Interim Result Highlights Appendices I. Summary of Properties in HK & London II. Summary of Properties in the PRC III. Hotel and Restaurants Operations IV. Media and Entertainment Operations V. Summary Financials LAI SUN GROUP

  3. Slide 3: 1. Group Overview

    1. Group Overview LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  4. Slide 4: Introduction to the Lai Sun Group

    Introduction to the Lai Sun Group The Group was founded by Mr. Lim Por-Yen who migrated from Guangdong in 1930’s and started business as a garment Diversified into Hong Kong manufacturer after the war property development through Lai Sun Development Company Limited since the 1980’s Expanded into PRC

  5. Slide 5: Chairman of Lai Sun Group

    Chairman of Lai Sun Group Dr. Lam Kin Ngok, Peter  Standing Committee Member of the 13th CPPCC National Committee  Doctorate of the Academy honoris causa awarded by The HK Academy for Performing Arts  Chairman of HK Chamber of Films Limited  Member of Hong Kong Trade Development Council  Honora

  6. Slide 6: Group Structure

    Group Structure Group Market Capitalisation #: The Lam Family HK$17.9 billion 45.85%* (42.37%**) Lai Sun Garment (International) Limited (“LSG”) Market Capitalisation # HK$4.7 billion Investment Holding HK Stock Code: 191 Total Assets: HK$84.1 billion 56.14%* (48.04%**) Lai Sun Development Company L

  7. Slide 7: Completion of offers for eSun and LFH

    Completion of offers for eSun and LFH  LSD made a voluntary general offer to acquire shares of eSun that were not owned by LSD ("eSun Offer") in August 2018  eSun Offer became unconditional in August 2018 and triggered a mandatory general offer to LFH (“LFH Offer”)  eSun Offer closed on 22 August

  8. Slide 8: 2. Property Operations Update

    2. Property Operations Update LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  9. Slide 9: Strategy Update

    Strategy Update Continue consolidation and preparing the platform  Further accretion of interest subject to the “creeper Strengthen  Group consolidated provision” where applicable balance sheet  Deferred tax written back in 31 July 2012  Addition of new rental properties in the pipeline to stren

  10. Slide 10: Strengthen Balance Sheet

    Strengthen Balance Sheet Net Asset Value (in HK$’million) Financial consolidation LSD LSG completed 36,508  Concentrate asset 31,159 base 26,600 24,358 22,663 22,964  Stake accretion at 19,128 20,775 19,837 18,037 steep discount to 16,358 16,453 13,796 book value creating 11,959* 11,035 12,576 gai

  11. Slide 11: Fund Raising

    Fund Raising Secured resources for growth and removed refinancing risks Cumulative Fund Raising (in HK$’million) Oversubscription 2,200 3,000 6,550 9,280 11,400 13,649 13,729 13,939 14,568 15,377 (times) 809 LSG – CNY guaranteed notes**** 4.8 1,940 # 1,940 # LSD loan for TKO site 2.0 Total funds rai

  12. Slide 12: Build Pipeline - Alto Residences

    Build Pipeline - Alto Residences (LSD-50%, HK) – Nov 2012  Site area: 229,300 sq.ft.  Development GFA: 573,300 sq.ft. - 458,900 sq. ft. for residential use - 114,400 sq.ft. for commercial use  Usage : residential and commercial  605 residential units  Occupation Permit issued in May 2018  Cert

  13. Slide 13: Build Pipeline - Hong Kong Ocean Park Marriott Hotel

    Build Pipeline - Hong Kong Ocean Park Marriott Hotel (100%-LSD, HK) – May 2014  LSD being selected as the most preferred proponent in Oct 2013 and being awarded by Hong Kong Ocean Park for the Ocean Hotel project in May 2014  6 storeys, 471 guest rooms  Total GFA: 365,974 sq.ft.  Marriot as hote

  14. Slide 14: Build Pipeline - Pau Chung Street

    Build Pipeline - 93 Pau Chung Street (100%-LSD, HK) – April 2014  On 29 April 2014, LSD won the contract for Urban Renewal Authority’s residential-cum- commercial development of San Shan Road/Pau Chung Street project in Ma Tau Kok by tender  Site area: approx. 12,600 sq. ft.  Gross floor area: ap

  15. Slide 15: Build Pipeline - Monti

    Build Pipeline - Monti (Sai Wan Ho Street project) (100%-LSD, HK) – September 2015  On 22 September 2015, LSD won the contract for Urban Renewal Authority’s residential-cum- commercial development of Sai Wan Ho Street project in Shau Kei Wan by tender  Site area: approx. 7,600 sq. ft.  Gross floo

  16. Slide 16: Build Pipeline - Novi

    Build Pipeline - Novi (Ki Lung Street project) (100%-LSD, HK) – May 2016  On 16 May 2016, LSD completed the purchase of the remaining unit for the proposed development in Ki Lung Street in Sham Shui Po, Kowloon  The site comprises numbers 48-56 on Ki Lung Street and is planned to be a residential

  17. Slide 17: Build Pipeline - Yuen Long site

    Build Pipeline - Yuen Long site (100% LSD, HK) – March 2019  LSD successfully tendered for and secured a site located at Lot No. 5382 in Demarcation District No.116, Tai Kei Leng, Yuen Long, New Territories  Lan premium: approx. HK$209.8 million.  Site area: approx. 12,000 sq.ft.  Total gross fl

  18. Slide 18: Build Pipeline - 107 Leadenhall

    Build Pipeline - 107 Leadenhall – May 2014 (100%-LSD, London)  On 25 April 2014, LSD succeeded in bidding for 107 Leadenhall in a private auction and the transaction was completed in May 2014  Located at the core of the insurance district in central London  Gross internal area: approx. 146,600 sq

  19. Slide 19: Build Pipeline - 100 Leadenhall

    Build Pipeline - 100 Leadenhall – Jan 2015 (100%-LSD, London)  LSD acquired 100 Leadenhall in Nov 2014 and the transaction was completed in Jan 2015  Office and ancillary accommodation of approx. 177,700 sq.ft. gross internal area  Currently let to Chubb Market Company Limited (formerly known as

  20. Slide 20: Build Pipeline - 106 Leadenhall

    Build Pipeline - 106 Leadenhall (100%-LSD, London) – 18 December 2015 (cont’d)  On 18 December 2015, LSD acquired 106 Leadenhall  Located adjacent to our other two wholly-owned properties, namely 100 and 107 Leadenhall Street  Multi-tenanted asset with approximately 19,924 square feet gross inter

  21. Slide 21: Potential upside from Leadenhall portfolio

    Build Pipeline - Potential upside from Leadenhall portfolio  Combined gross internal area: approx. 344,224 square feet  Total acquisition cost: approx. GBP189.1 million  All leases being aligned to expire in 2023  The City of London’s Planning and Transportation Committee has given a resolution

  22. Slide 22: Potential upside from Leadenhall portfolio (cont'd)

    Build Pipeline - Potential upside form Leadenhall portfolio (cont’d)  The Planning Consent would allow LSD to redevelop the Leadenhall properties into a 56 storey tower with:  approx.1,068,510 sq. ft. gross internal area of office space  new retail space of approx. 8,730 sq. ft.;  a free, public

  23. Slide 23: Well positioned for the Greater Bay Area growth

    Well positioned for the Guangdong-Hong Kong-Macau Greater Bay Area growth GFA* (in ‘000 sq.ft.) For-rental properties  HK$332.4 mil rental revenue for H12019 Hong Kong (LSD & LSG) 1,992  Asset value: HK$29.6bln** as at 31 January 2019  HK$141.2 mil rental revenue for H1 2019 Guangzhou (LFH) 1,314

  24. Slide 24: Hengqin Novotown

    Build Pipeline - Hengqin Novotown Hong Kong 58.5 million visitors in 2017 Macau 32.6 million visitors in 2017 LAI SUN GROUP 麗新集團 24 Lai Sun Group © All rights reserved

  25. Slide 25: Hengqin Novotown

    Build Pipeline - Hengqin Novotown  Guangdong free-trade zone status has been formally announced on Zhuhai New Central 21 April 2015 Business District Macau  Augmenting the growth of Macau through Guangdong-Macau Traditional Chinese tourism and Medicine Industrial Park entertainment  Creating the

  26. Slide 26: Hengqin Novotown

    Build Pipeline - Hengqin Novotown Hengqin Novotown  MOU entered into in Sep 2011  Site area : One square kilometre Phase I (80%-LFH, 20%-eSun) - succeeded in auction in Sep 2013  Site area: 1.4 million sq.ft.  Development GFA: 4.0 million sq.ft. (including car-parking spaces and ancillary facili

  27. Slide 27: Hengqin Novotown Phase I

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 Phase I GFA (sq.ft.) Cultural Cultural Cultural themed hotel 596,727 workshop themed hotel Cultural workshop 429,641 Cultural commercial area (podium) 523,843 Office Cultural commercial area (podium) Performance halls

  28. Slide 28: Novotown Phase I - Lionsgate

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d)  Licensing agreement being entered into in Nov 2015 with Lionsgate LBE, Inc. for the development and operation of an Immersive Experience Center (“IEC”) in Phase I of the Novotown.  Village Roadshow Theme Pa

  29. Slide 29: Novotown Phase I - National Geographic

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d)  Licensing agreements being entered into in Nov 2015 with a master license holder of National Geographic Society (“NGS”) to develop a Family Edutainment Center (“FEC”) in Phase I of the Novotown  The size of

  30. Slide 30: Novotown Phase I - Hyatt Regency

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d)  Hyatt being engaged as the manager for the cultural themed hotel in March 2015 . The 490-room Hyatt Regency Hotel provides comfortable and cozy accommodation for visitors’ stay at Novotown. LAI SUN GROUP 麗新集

  31. Slide 31: Novotown Phase I - Cross-border bus service

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d)  Entered into cooperation framework agreement in April 2016 with Trans-Island Limousine Service Limited (“TIL”, subsidiary of Kwoon Chung Bus Holdings Limited) to develop a cross-border bus service between HK

  32. Slide 32: Novotown Phase I - Healthcare and beauty center

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d)  A shareholders' agreement was entered into in Jan 2017 with Sanitas Management Company Limited, which owns the Taipei Beitou Health Management Hospital in Taiwan to form a joint venture company co-developing

  33. Slide 33: Novotown Phase I - Halls

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 (cont’d)  The Hall of Inspiration is a multi-purpose venue for a wide spectrum of events, including fashion shows, gala dinners, TV broadcasts, reality shows, mini concerts, corporate meetings and conferences etc.  T

  34. Slide 34: Hengqin Novotown Phase I

    Build Pipeline - Hengqin Novotown Phase I (80%-LFH; 20%-eSun, the PRC) – Sep 2013 LAI SUN GROUP 麗新集團 34 Lai Sun Group © All rights reserved

  35. Slide 35: Novotown Phase II - Real Madrid World

    Build Pipeline - Hengqin Novotown Phase II (100%-LFH) – December 2018  A licence agreement was entered into in Jun 2017 with Real Madrid Club de Fútbol in relation to the development and operation of a location based entertainment centre, namely Real Madrid World in Novotown  The Real Madrid World

  36. Slide 36: Novotown Phase II - Harrow ILA Hengqin

    Build Pipeline - Hengqin Novotown Phase II (100%-LFH) – December 2018 (cont’d)  A cooperation agreement was entered into in Nov 2017 with Harrow International (China) Management Services Limited and ILA Holdings Limited bringing Harrow International China Group, the world’s leading learning institu

  37. Slide 37: Novotown Phase II - Ducati Experience Centre

    Build Pipeline - Hengqin Novotown Phase II (100%-LFH) – December 2018 (cont’d)  A license agreement was entered into in December 2018 with Ducati Motor Holding S.p.A in relation to the development and operation of the Ducati Experience Centre in Novotown Phase II  The Ducati Experience Centre expe

  38. Slide 38: Hengqin Novotown Phase II

    Build Pipeline - Hengqin Novotown Phase II (100%-LFH) – December 2018 LAI SUN GROUP 麗新集團 38 Lai Sun Group © All rights reserved

  39. Slide 39: Shanghai Wuli Bridge project

    Build Pipeline - Shanghai Wuli Bridge project (100%-LFH, the PRC) – Jul 2014 Zhabei District  In July 2014, LFH succeeded in the bid of the land use rights of Hongkou District the land located by the Huangpu river in Huangpu district, Shanghai, the PRC  Site area: approx. 74,100 sq.ft.  Attributa

  40. Slide 40: Northgate Plaza Redevelopment

    Build Pipeline - Northgate Plaza Redevelopment (100%-LFH, the PRC)  Shanghai Northgate Plaza I is located in the Jing'an District of Shanghai, near the Shanghai Railway Terminal Northgate Plaza I  Shanghai Northgate Plaza II is a vacant site adjacent to Northgate Plaza I  Acquisition of the 6th t

  41. Slide 41: Guangzhou Haizhu Plaza

    Build Pipeline - Guangzhou Haizhu Plaza (100%-LFH, the PRC)  Located on Chang Di Main Road in Yuexiu District, Guangzhou along the Pearl River.  Total project GFA of approximately 580,500 square feet  Intended to be developed for rental purposes  Construction is expected to commence in the secon

  42. Slide 42: Zhongshan Palm Spring

    Build Pipeline - Zhongshan Palm Spring (100%-LFH, the PRC)  The overall development has a total planned GFA of approximately 6.075 million sq.ft., comprise of high-rise residential towers, townhouses, serviced apartments and commercial  During the period under review, 37,653 square feet of high-ri

  43. Slide 43: Build Pipeline - projects under development

    Build Pipeline Project under development Usage Group interest Attributable GFA Total development cost (100%) OP Date (sq.ft.) (HK$'million) LFH - Mainland China Q2 2022 Shanghai Northgate Plaza Redevelopment Commercial/Office 100% 693,600 1,930 (expected) Q2 2019 Shanghai Wuli bridge project Residen

  44. Slide 44: 2013/2014 – Consolidating Strengths

    2013/2014 – Consolidating Strengths Ownership changes eSun commenced Financial Continued accretion of LFH 2014 US$200m Acquisitions Lam Family increased accreting stake in equity interests across bond consent solicitation Operations stake in LSG LFH the group completed Research coverage Financial LS

  45. Slide 45: 2015/2016 – Consolidating Strengths

    2015/2016 – Consolidating Strengths LSD LSD LFH ‘s SHMFP 5% Rated research report Rated research minority buyout Ownership changes issued by BNP report issued by DBS Financial LFH ‘s property swap in Acquisitions AGM to approve relation to Eastern Place V Operations final dividend and Paramount Cent

  46. Slide 46: 2017/2018 – Consolidating Strengths

    2017/2018 – Consolidating Strengths Ownership changes eSun Financial LSD acquired 49.96% Placing of new LSD’s investment Acquisitions Operations interest in Camper & shares under in Phuket hotel Research coverage Nicholsons International SA general mandate project Aug 16 Sep Oct Nov Dec Jan Feb Mar

  47. Slide 47: Discount to NAV – LSG

    Discount to Net Asset Value (“NAV”) – LSG 25,000 100% 22,964 85% 86% 85% 90% 83% 79% 78% 19,837 80% CAGR: 17.8% 20,000 80% 18,037 78% 16,453 64% 70% 15,000 13,796 60% 12,576 50% 11,035 10,000 9,027 40% 6,739 6,570 30%CAGR: 17.5% 4,429 4,660 5,000 20% 2,426 2,120 2,406 1,930 10% 1,391 1,310 - 0% 31 J

  48. Slide 48: Discount to NAV – LSD

    Discount to Net Asset Value (“NAV”) – LSD 40,000 85% 90% 83% 81% 83% 78% 35,000 76% 76% 74% 80%CAGR: 16.0% 36,508 67% 70% 30,000 31,159 60% 25,000 26,600 24,358 50% 20,000 22,663 20,775 19,128 40% 15,000 16,358 30% 10,000 11,959 8,773 CAGR: 14.3% 8,134 7,915 20% 4,554 3,932 4,222 5,000 2,903 2,809 3

  49. Slide 49: Discount to NAV - LFH

    Discount to Net Asset Value (“NAV”) - LFH 18,000 83% 90% 80% 79% 76% 77% 77% 77% 16,000 80% 73% 73% CAGR: 7.7% 15,503 15,832 14,000 14,584 70% 13,466 13,315 12,000 12,663 60% 11,419 10,000 50% 10,438 8,000 9,073 40% 6,000 30% 3,908 3,578 CAGR: 5.7% 4,000 3,090 2,931 3,349 20% 2,350 2,661 2,316 2,213

  50. Slide 50: Investor Relations

    Investor Relations For the year ending 31 July 2019 September 2018 2018 SCB Annual Investor Reverse Roadshow Standard Chartered Bank Hong Kong October 2018 Post results non-deal roadshow DBS Singapore November 2018 Post results non-deal roadshow Maybank Kim Eng Hong Kong November 2018 Post results n

  51. Slide 51: Substantial Shareholders

    Substantial Shareholders The Lam Family Mr. Yu Cheuk Yi & Ms. Yu Siu Yuk 45.85%* (42.37%**) Lai Sun Garment (International) Limited (“LSG”) 28.67%# Investment Holding HK Stock Code: 191 56.14%* (48.04%**) Lai Sun Development Company Limited (“LSD”) Property Development & investment in HK & Overseas

  52. Slide 52: Operations Update – Hong Kong and London

    Operations Update Hong Kong and London – replenishing landbank Major assets of LSD: 2,435 Hong Kong:  CSW Plaza  Ocean Park Hotel grand opened in March 2019 Attributable rental GFA added approx. 366,000 sq. ft. rental GFA  CWB Plaza II  Lai Sun Comm Center  Actively reviewing sites to expand po

  53. Slide 53: Rental Income Growth – Hong Kong

    Rental Income Growth – Hong Kong Six months ended 31 January Rental turnover and building management fee (HK$’million) 2019 2018 LSG Crocodile Center 48.1 47.4 1.5% Por Yen Building 7.5 7.4 1.4% Others 2.0 1.4 42.9% LSG Subtotal: 57.6 56.2 2.5% LSD Hong Kong Cheung Sha Wan Plaza 160.0 153.7 4.1% Cau

  54. Slide 54: Operations Update – PRC rental portfolio

    Operations Update PRC – growing the rental portfolio… FY 2019 FY 2022 FY 2023 FY 2024 Properties to be Properties to be Properties to be Properties to be added: added: added: added:  Hengqin  Northgate Plaza  Haizhu Plaza  Hengqin Novotown redevelopment Novotown Phase II Phase I* project 10,205

  55. Slide 55: Rental Income Growth – the PRC

    Rental Income Growth – the PRC Rental turnover Six months ended 31 Jan Six months ended 31 Jan 2019 2018 2019 2018 (HK$ million) (HK$ million) (RMB million) (RMB million) @0.878 @0.8433 Shanghai Shanghai Hong Kong Plaza 227.9 206.3 10.5% 200.1 174.0 15.0% Shanghai May Flower Plaza 32.7 38.8 -15.7% 2

  56. Slide 56: Operations Update – PRC build-for-sale pipeline

    Operations Update PRC – steady build-for-sale pipeline; replenishing land bank FY2019 FY2020 FY2021 FY2021 Land bank as at 31 January 2019 – 9.1 million sq. ft.# Completion : Completion : Completion : Completion :  Shanghai Wuli  Cultural studios of  Palm Spring  Palm Spring Bridge project Hengq

  57. Slide 57: Operations Update – PRC contracted but not recognised sales

    Operations Update PRC – contracted but not recognised sales Approximate GFA Average Selling Price# Turnover# As at 31 January 2019 No. of units Square feet HK$/square foot HK$ million RMB million Zhongshan Palm Spring Residential High-rise Units 104 130,127 1,605 208.8 183.3 Residential House Units

  58. Slide 58: 3. 2019 Interim Result Highlights

    3. 2019 Interim Result Highlights LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  59. Slide 59: Continue preparation for future growth

    Continue preparation for future growth HK$ million unless specified otherwise Revenue Profit /(loss) attributable to owners of the company Key drivers (% Change) (EPS) Reported : HK$2,914.6 million (HK$7.568)  Steady performance from rental properties in Hong Kong and London LSG HK$3,815.9 +315.7%

  60. Slide 60: Stable Financial Foundation

    Stable Financial Foundation Cash and bank balance as at 31 January 2019 (HK$'million) Consolidated 5,895 5,692 4,270 3,690 Ex-listed subs 202 1,422 317 N/A Undrawn facilities as at 31 January 2019 (HK$'million) Consolidated 6,631 6,381 3,663 3,592 Ex-listed subs 250 2,718 71 N/A 64% 59% 38% 32% 25%

  61. Slide 61: Appendix I – Summary of Properties in HK & London

    Appendix I – Summary of Properties in HK & London LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  62. Slide 62: Overview of major properties in Hong Kong

    Overview of major properties in Hong Kong GFA by type as at 31 January 2019 (‘000 sq.ft.) By type Commercial No. of Office Industrial Residential Hotel Total / Retail carparks Completed Hotel Properties and Serviced Lai Sun Garment Apartments 18% Completed properties held for Properties Under 91 - 1

  63. Slide 63: Major Rental Properties – Hong Kong

    Major Rental Properties – Hong Kong Prime commercial areas in Hong Kong AIA Central CCB Tower 1 Connaught Road Central, Central, Hong Kong 3 Connaught Road Central, Central, Hong Kong Building specification: Project Particulars: • Completed in 2005 • Partner with China Construction Bank (50:50 JV) •

  64. Slide 64: Major Rental Properties – Hong Kong

    Major Rental Properties – Hong Kong Prime commercial areas in Hong Kong Causeway Bay Plaza 2 463-483 Lockhart Road, Causeway Bay, Hong Kong (100%) Building specification: • Completed in 1992 • GFA: 206,000 sq.ft. • Office and retail • 28-storey • Retail 109,800 sq.ft.. • Office 96,200sq.ft. • 57 car

  65. Slide 65: Major Rental Properties – Hong Kong

    Major Rental Properties – Hong Kong Prime commercial areas in Hong Kong Cheung Sha Wan Plaza 833 Cheung Sha Wan Road, Cheung Sha Wan, Kowloon, Hong Kong (100%) Building specification: • Completed in 1989 • GFA: 643,700 sq.ft. (excl. carparks) • 2 office towers • Retail podium (5-storey) • 355 carpar

  66. Slide 66: Major Rental Properties – Hong Kong

    Major Rental Properties – Hong Kong Lai Sun Commercial Centre 680 Cheung Sha Wan Road, Cheung Sha Wan, Kowloon, Hong Kong (100%) Building Specification: • Completed in 1987 • GFA: 169,200 sq.ft. (excl. carparks) • Office / retail mixed use development • 521 carparks Tenants in arcade dominated by lo

  67. Slide 67: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Property Development & Investment in Hong Kong & Overseas Projects completed for sale 339 Tai Hang Road, Hong Kong Ocean One, Yau Tong, Kowloon (100%) (100%) Project Particulars: Project Particulars: • Luxury residential development at • Residential-cum-comme

  68. Slide 68: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Projects under development Alto Residences, Tseung Kwan O Project Particulars: • 50:50JV • Land area: 229,300 sq.ft. • Total GFA: 573,300 sq.ft. • 605 flats, including 23 detached houses • Occupation Permit being issued in May 2018 • Certificate of Compliance

  69. Slide 69: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Projects under development Ocean Park Hotel (100%) Project Particulars: • 6 storeys, 471 guest rooms • Total GFA: 366,000 sq.ft. • Expected investment: HK$4.4 billion • Marriot as hotel operator and manager • Construction completed • Hotel license being issue

  70. Slide 70: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Projects under development 93 Pau Chung Street (100%) Project Particulars: • Site area: approx. 12,600 sq. ft. • Permitted GFA: approx. 111,400 sq.ft. - 94,500 sq. ft. for residential use - 16,900 sq.ft. for commercial use • 209 flats, including studios, one

  71. Slide 71: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Projects under development Monti (100%) Project Particulars: • Site area: approx. 7,600 sq. ft. • Permitted gross floor area: approx. 59,800 sq.ft. • Expected total development cost: HK$0.9 billion • 144 residential units • Expected completion: Q3 2019 • Pre-

  72. Slide 72: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Projects under development Novi (100%) Project Particulars: • Combined site area: approx. 5,100 sq.ft. • Total gross floor area: approx. 42,900 sq.ft. • Expected total development cost: HK$0.4 billion • Expected completion: Q3 2019 • Pre-sales launched in Jul

  73. Slide 73: Major Development Properties – Hong Kong

    Major Development Properties – Hong Kong Projects under development Yuen Long site (100%) Project Particulars: • Site area: approx. 12,000 sq.ft. • Total gross floor area: maximum of approx. 42,200 sq.ft. • The site is designated for private residential purposes LAI SUN GROUP 麗新集團 73 Lai Sun Group ©

  74. Slide 74: Major Rental Properties - London

    Major Rental Properties - London Core of the financial district in central London 107 Leadenhall (100%)  On 25 April 2014, LSD succeeded in bidding for 107 Leadenhall in a private auction and the transaction was completed in May 2014  Located at the core of the insurance district in central London

  75. Slide 75: Major Rental Properties - London

    Major Rental Properties - London Core of the financial district in central London 100 Leadenhall (100%)  LSD acquired 100 Leadenhall in Nov 2014 and the transaction was completed in Jan 2015  Office and ancillary accommodation of approx. 177,700 sq.ft. gross internal area  Currently let to Chubb

  76. Slide 76: Major Rental Properties - London

    Major Rental Properties - London Core of the financial district in central London 106 Leadenhall (100%)  Located adjacent to 100 and 107 Leadenhall Street  Multi-tenanted asset with approximately 19,900 square feet gross internal area of commercial and offices space  Currently fully leased out 10

  77. Slide 77: Appendix II – Summary of Properties in the PRC

    Appendix II – Summary of Properties in the PRC LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  78. Slide 78: Overview of major properties in the PRC – Lai Fung & eSun

    Overview of major properties in the PRC – Lai Fung & eSun By type Compl eted Total GFA of major properties in the PRC: 13.1 million sq.ft.* Properties Held for Sa l e 5% Shanghai Guangzhou Attributable GFA Properti es Under Compl eted Properties Attributable GFA ('000 sq.ft.) Development hel d for r

  79. Slide 79: Overview of major properties in the PRC – Lai Fung & eSun

    Overview of major properties in the PRC – Lai Fung & eSun GFA by type as at 31 January 2019 (‘000 sq.ft.) Commercial / Serviced No. of Office Residential Total Retail Apartments carparks eSun 2 Properties Under Development 196 118 205 - 518 418 Completed Properties Held for Sale - - - 39 39 eSun Tot

  80. Slide 80: Major Rental Properties - PRC

    Major Rental Properties - PRC Hong Kong Plaza, Shanghai Hong Kong Plaza, Shanghai (100%) Building Specification • 32 storey office tower, 32 storey serviced apartment, 7 level commercial podium with basement parkade • GFA 1.18 million sq.ft./ Office 360,700 sq.ft./ Serviced apartment 354,200 sq.ft.

  81. Slide 81: Major Rental Properties - PRC

    Major Rental Properties - PRC May Flower Plaza, Shanghai Shanghai May Flower Plaza (The Mid Town) (100%)  Mixed use development comprising retail, offices and residential with total project GFA of approximately 1,195,000 sq.ft.  Located in Jing’an District at the heart of Shanghai and along metro

  82. Slide 82: Major Rental Properties - PRC

    Major Rental Properties - PRC May Flower Plaza and West Point, Guangzhou Mayflower Plaza, Guangzhou (100%) Building Specification: • 13 level building including basement • Total GFA: 436,800 sq.ft. • Retail 357,400 sq.ft. • Office 79,400 sq.ft. • 136 carparks West Point , Guangzhou Leasing condition

  83. Slide 83: Major Rental Properties - PRC

    Major Rental Properties - PRC Lai Fung Tower, Guangzhou Lai Fung Tower, Guangzhou (100%) Building Specification: • 38-storey office building • Total GFA: 705,600 sq.ft. - Retail 99,100 sq.ft. - Office 606,500 sq.ft. - 313 carparks Leasing condition – January 2019 • Retail 100.0% • Office 100.0%* *Ex

  84. Slide 84: Major Development Properties – PRC

    Major Development Properties – PRC Key projects under development and being sold Palm Spring, Zhongshan (100%)  The overall development has a total planned GFA of approximately 6.075 million sq.ft., comprise of high-rise residential towers, townhouses, serviced apartments and commercial  During th

  85. Slide 85: Major Development Properties - PRC

    Major Development Properties - PRC Up and coming Hengqin Novotown Phase I (80% LFH - 20% eSun) - succeed in auction in Sep 2013  Site area: 1.4 million sq.ft.  80:20 held by LFH and eSun  Development GFA: 4.2 million sq.ft. including car-parking spaces and ancillary facilities  Average land cost

  86. Slide 86: Major Development Properties - PRC

    Major Development Properties - PRC Up and coming Hengqin Novotown Phase II (100% LFH) - Succeeded in bidding-for-sale process in December 2018  Site area: approx. 1.5 million sq.ft.  100% held by LFH  Development GFA: 3.1 million sq.ft. (including car-parking spaces and ancillary facilities)  In

  87. Slide 87: Major Development Properties - PRC

    Major Development Properties - PRC Up and coming Wuli Bridge project (100%) Hongkou District  Located by the Huangpu river in Huangpu district, Shanghai, the Zhabei District PRC  Site area: approx. 74,100 sq.ft.  Attributable gross floor area: approx. 77,900 sq.ft.  Types of products: high end l

  88. Slide 88: Major Development Properties - PRC

    Major Development Properties - PRC Up and coming Shanghai Northgate Plaza redevelopment (100%)  Shanghai Northgate Plaza I is located in the Jing'an District of Shanghai, near the Shanghai Railway Terminal  Shanghai Northgate Plaza II is a vacant site adjacent to Northgate Plaza I  Acquisition of

  89. Slide 89: Major Development Properties - PRC

    Major Development Properties - PRC Up and coming Guangzhou Haizhu Plaza (100%)  Located on Chang Di Main Road in Yuexiu District, Guangzhou along the Pearl River.  Total project GFA of approximately 580,500 square feet  Intended to be developed for rental purposes  Construction is expected to co

  90. Slide 90: Appendix III – Hotel and Restaurant Operations

    Appendix III – Hotel and Restaurant Operations LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  91. Slide 91: Hotel Ownership & Management

    Hotel Ownership & Management Current : 1,632 rooms STARR Resort Residence Zhongshan 90 rooms Soft-opened August 2013 STARR Hotel Shanghai 239 rooms Soft-opened in November 2013 Ocean Park Hotel: 471 rooms Caravelle Hotel, Ho Chi Minh City, “STARR” Vietnam Shanghai Hong Kong Plaza – 335 rooms Furama

  92. Slide 92: Restaurant Operations

    Restaurant Operations Hospitality Hotel Property Management Development & Investment in Hong Kong & Overseas Acclaimed Michelin starred restaurants Asian Cuisine • China Tang Hong Kong Landmark (50%) (The Plate Michelin (2019)) • China Tang Harbour City (60%) (The Plate Michelin (2019)) • Howard’s G

  93. Slide 93: Restaurant Operations (cont'd)

    Restaurant Operations (cont’d) Hospitality Hotel Property Management Development & Investment in Hong Kong & Overseas Acclaimed Michelin starred restaurants Western Cuisine • 8 ½ Otto e Mezzo, BOMBANA Hong Kong (37%) (Three Michelin stars (2012-2019)) • Otto e Mezzo, BOMBANA (Shanghai) (13%) (Two Mi

  94. Slide 94: Restaurant Operations (cont'd)

    Restaurant Operations (cont’d) Hospitality Hotel Property Management Development & Investment in Hong Kong & Overseas Acclaimed Michelin starred restaurants Japanese Cuisine • Kaiseki Den by Saotome (59%) (One Michelin star (2010-2019)) • Takumi by Daisuke Mori (63%) (One Michelin star (2017-2019))

  95. Slide 95: Appendix IV – Media and Entertainment

    Appendix IV – Media and Entertainment LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  96. Slide 96: Media & Entertainment

    Media & Entertainment  Produced and co-produced more than 100 Chinese-language films over last 10 years The most diversified leading  Organised over 1,000 concerts and shows since Chinese-language entertainment 2001 provider in Asia  Published over 300 titles of albums since 2001  Representing a

  97. Slide 97: Award and Achievements

    Award and Achievements  Media Asia’s films won over 140 international awards out of over 359 nominations from major internal film festivals and award ceremonies  Media Asia’s music albums and singers received numerous awards in major music festivals LAI SUN GROUP 麗新集團 97 Lai Sun Group © All rights

  98. Slide 98: Film Production

    Film Production  One of the top Chinese-language film production companies in Asia  Cooperation with influential state-owned film enterprises and invest in film production and distribution under CEPA arrangement LAI SUN GROUP 麗新集團 98 Lai Sun Group © All rights reserved

  99. Slide 99: Film & Video Distribution

    Film & Video Distribution  A leading film distribution company with a time-honored tradition of excellence  Acquires quality independent productions internationally from all over the world including the U.S., Europe, Japan and South Korea  Intercontinental Film Distribution Limited of IGHL is the

  100. Slide 100: TV Drama

    TV Drama  Access to production licenses in mainland China  Solid cooperation relationship with the famous producer and first-class artists and TV stations  Experienced distribution team with solid relationship with major television network  Ex-TVB’s head of drama production, Mr. Tommy Leung (梁家樹

  101. Slide 101: Live Entertainment & Music

    Live Entertainment & Music  Actively organize and invest in live performances in HK and mainland China  Diversified live entertainment events including major pop concerts, touring shows and musicals  Over 5,000 songs in the music library, including some all-time hits from Leslie Cheung, Anita Mui

  102. Slide 102: Artiste Management

    Artiste Management  Represents and manages over 20 top Asian artists  Continuous efforts to develop new talents  In discussion with various managers and workshops of PRC artists LAI SUN GROUP 麗新集團 102 Lai Sun Group © All rights reserved

  103. Slide 103: Cinemas in Mainland China

    Cinemas in Mainland China  In Nov 2018, eSun acquired No. of No. of an additional 10% interest Attributable interest Screens Seats in Intercontinental Group Cinema to eSun (Note 1) (Note 1) Holdings Limited (“IGHL”) Mainland China  Multiplex Cinema Limited Suzhou Grand Cinema City 100 10 1,440 (MC

  104. Slide 104: Appendix V – Summary Financials

    Appendix V – Summary Financials LAI SUN GROUP 麗新集團 Lai Sun Group © All rights reserved

  105. Slide 105: Financial Summary – Lai Sun Garment

    Financial Summary – Lai Sun Garment For the six months ended 31 January (HK$’million unless stated otherwise) 2019 2018 % change Turnover 3,815.9 917.9 316% - Property Investment 731.5 405.7 80% - Property Development 1,751.3 - N/A - Restaurant Operation 269.8 268.5 0.5% - Hotel Operation 280.6 231.

  106. Slide 106: Financial Summary – Lai Sun Garment (cont'd)

    Financial Summary – Lai Sun Garment (cont’d) (HK$million unless stated otherwise) As at 31 January 2019 As at 31 July 2018 % change Total assets 84,095.0 50,721.1 66% Cash and bank balances 5,894.7 4,545.5 30% Standalone cash and bank balances* 202.4 205.7 -2% Interest bearing debt 20,589.1 13,172.9

  107. Slide 107: Financial Summary – Lai Sun Development

    Financial Summary – Lai Sun Development For the six months ended 31 January (HK$'million unless stated otherwise) 2019 2018 % change Turnover 3,760.7 863.8 335% - Property Investment 673.9 349.5 93% - Property Development 1,751.3 - N/A - Restaurant Operations 269.8 268.5 0% - Hotel Operation 280.6 2

  108. Slide 108: Financial Summary – Lai Sun Development (cont'd)

    Financial Summary – Lai Sun Development (cont’d) (HK$'million unless stated otherwise) As at 31 January 2019 As at 31 July 2018 % change Total assets 80,025.8 46,702.9 71% Cash and bank balances 5,692.3 4,339.8 31% Standalone cash and bank balances* 1,422.4 4,339.8 -67% Interest bearing debt 19,422.

  109. Slide 109: Financial Summary – eSun Holdings

    Financial Summary – eSun Holdings For the six months ended 31 January (HK$’million unless stated otherwise) 2019 2018 % change Turnover 1,260.2 1,184.9 6% - Media and Entertainment 233.1 237.1 -2% - Film Production & Distribution 240.3 199.2 21% - Cinema Operations 214.3 189.5 13% - Property Develop

  110. Slide 110: Financial Summary – eSun Holdings (cont'd)

    Financial Summary – eSun Holdings (cont’d) (HK$’million unless stated otherwise) As at 31 January 2019 As at 31 July 2018 % change Total assets 34,407.8 32,049.8 7% Cash and bank balances 4,269.7 3,209.8 33% Standalone cash and bank balances* 317.3 341.9 -7% Interest bearing debt 9,690.6 8,199.0 18%

  111. Slide 111: Financial Summary – Lai Fung

    Financial Summary – Lai Fung For the six months ended 31 January (HK$'million unless stated otherwise) 2019 2018 % change Turnover* 571.1 509.4 12% - Property Investment* 425.4 379.5 12% - Property Development 145.7 129.9 12% Gross Profit 359.1 345.7 4% Gross margin 63% 68% Net Profit attributable t

  112. Slide 112: Financial Summary – Lai Fung (cont'd)

    Financial Summary – Lai Fung (cont’d) (HK$'million unless stated otherwise) As at 31 January 2019 As at 31 July 2018 % change Total assets 31,001.2 28,228.3 10% Cash and bank balances 3,690.4 2,437.9 51% Interest bearing debt 8,777.5 7,445.6 18% Undrawn facilities 3,592.3 3,552.0 1% Equity attributa

  113. Slide 113: Disclaimer

    Disclaimer The financial informa tion included in this document does not cons ti tute the Company’s s ta tutory a nnual consolida ted financial s tatements but deri ved from those financial s tatements . Further informa tion relating to these s ta tutory fi nancial s tatements required to be disclos

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