Annual Report 2023

Report of the Directors ANNUAL REPORT 2023 59 The Board is pleased to present the Company’s annual report together with the audited financial statements for the year ended 31 December 2023. All references in this section “Report of the Directors” to other sections in the Annual Report form part of this section. PRINCIPAL ACTIVITIES AND GEOGRAPHICAL ANALYSIS OF OPERATIONS The Company is an investment holding company. The principal activities of its subsidiaries, associates and joint ventures are set out in notes 40 to 42 to the consolidated financial statements, respectively. An analysis of the Group’s performance for the current year by operating segments is set out in note 5 to the consolidated financial statements. RESULTS AND APPROPRIATIONS The results of the Group for the year are set out in the consolidated statement of profit or loss on page 83. The Board had declared an interim dividend of 22 HK cents per share, totaling HK$900 million, which was paid on 22 November 2023. The Directors have resolved to recommend the payment of a final dividend of 48 HK cents per share, totalling HK$2,015 million for the year ended 31 December 2023 to the shareholders of the Company (the “ Shareholders ”) whose names appear on the register of members of the Company on 7 June 2024 (2022: scrip dividend of 60 HK cents per share by way of issue of new shares equivalent with cash alternative), payable on or around 5 July 2024. The final dividend, if approved, is to be payable in cash in Hong Kong Dollars. BUSINESS REVIEW A review of the business of the Group during the year and a discussion on the Group’s prospects are provided in the “Chairman’s Statement” and the “Management Discussion and Analysis” on pages 6 to 10 and pages 11 to 29 of the Annual Report respectively. Description of key risk factors and uncertainties that the Group is facing is provided in the “Management Discussion and Analysis” on pages 11 to 29 of the Annual Report while the financial risk management of the Group can be found in note 35 to the consolidated financial statements. An analysis of the Group’s performance during the year using financial key performance indicators is provided in Financial Highlights on inside front cover of the Annual Report. In addition, discussions on the Group’s compliance with relevant laws and regulations which have a significant impact on the Group, relationships with its key stakeholders including shareholders, employees, customers and suppliers etc are contained in the “Management Discussion and Analysis” and “Corporate Governance Report” on pages 11 to 29 and pages 32 to 49 of the Annual Report respectively. Furthermore, the Group recognises environmental protection is of vital importance to the long term development of the Group. The “Environmental, Social and Governance Report” which contains discussion and review on the environmental policies and performance of the Group will be separately published on the same day of the publication of the annual report. For details, please refer to the Company’s website. PRINCIPAL SUBSIDIARIES The particulars of the principal subsidiaries of the Company are set out from pages 195 to 198 of the Annual Report.