01270.HK 's interim results for 2021 announced that the loss in the first half of the year narrowed sharply by 75% to 510 million yuan, without paying interim interest, because the distributable income in the first half of the year was about 36 million yuan, so the distributable income per share was negligible. In the same period last year, the distributable income was 36000 yuan. Langham does not expect a significant recovery in the company's hotel business this year, but expects to lift travel restrictions to boost the hotel business.

During the period, the company's hotel portfolio income increased by 10.7% year-on-year to about 288 million yuan, while the overall occupancy rate was 27.3%, an annual increase of 6.3%. The operating loss of the hotel portfolio was 18.2 million yuan, narrowing by 52.8% year-on-year, while the net property income of the trust group was 92.5 million yuan, an annual increase of 3.2%.

Langham said that the continuing epidemic, travel restrictions in various countries and Hong Kong's mandatory quarantine regulations had put pressure on hotel room demand in the first half of the year, and the government introduced consumption coupons this month to benefit the local consumer market. the company will continue to focus on business targeting local residents.

Looking to the future, Langham pointed out that there are still many uncertainties, especially the possibility of another large-scale outbreak and the evolution of a new variant of the virus, even if the hotel business is not expected to recover significantly in the rest of the year. It is expected that some stage of travel restrictions will be lifted and travel will be restored to boost the hotel business, and it is hoped that the entry and exit restrictions will be lifted in 2022. It is also pointed out that the company will adjust the size of its business according to the times to ensure cost balance and flexibility, and it is expected that the tourism and tourism business will eventually recover.