GREAT EAGLE H (00041) releases annual performance. According to the statutory accounting standards, the statutory loss attributable to equity holders amounted to HK$1.734 billion, turning from a profit to a loss compared to the previous year.

Great Eagle Holdings Limited (00041) announced its financial performance for the year ending December 31, 2024. It achieved revenue of HK$10.879 billion, representing a 2.2% increase compared to the previous year. Shareholders' net loss attributable to equity holders amounted to HK$1.734 billion, a turnaround from a profit of HK$764 million in the same period last year. The proposed final dividend is HK$0.5 per share. During the reporting period, the Group successfully launched the pre-sale project "Long Xian Feng". The joint development project in the Kai Tak and Ma Tau Chung areas has also made steady progress. In terms of hotels, the construction of The New Grand Lisboa Hotel and the renovation of the Chelsea Hotel in Toronto are ongoing, while the planning work to rebuild the Chelsea Hotel's current site into a mixed-use apartment hotel project is underway. Additionally, the Group has formed a joint venture with a Singaporean developer to acquire a hotel portion of a mixed-use development project in Kuala Lumpur's city center. The hotel will be managed by Langham Hotels Group upon completion and is scheduled to open by the end of 2027. Due to rising construction costs, the Group is in discussions with potential investors with local development experience for a joint venture on the Langham Hotel development project in Tokyo. Furthermore, the Group continues to expand its mid-range brand Ying'nFlo with a light-asset operating model and plans to open new hotels in major cities in mainland China such as Hangzhou, Nanjing, and Wuhan by 2025. During the reporting period, the Group's total core revenue increased by 4.1% to HK$7.833 billion (2023: HK$7.522 billion), mainly driven by contributions from the "Langtao" project. However, operating revenue decreased by 8.7% to HK$2.886 billion (2023: HK$3.161 billion), partly due to a one-time, non-recurring cost savings of HK$300 million obtained after settling with the main contractor of the "Langtao" project last year. Although the fees received from CHAMPION REIT decreased, the Group's operating revenue for 2024 remained relatively stable.