NOTES TO CONDENSED CONSOLIDATED FINANCIAL INFORMATION For the six months ended 30 June 2022 4. REVENUE, OTHER INCOME AND GAINS, NET (a) Revenue An analysis of revenue is as follows: For the six months ended 30 June 2022 2021 (Unaudited) (Unaudited) US$’000 US$’000 Rental income from investment property operating leases (note (i)) 57,655 50,648 Management fee 371,035 123,872 Construction income 151 26,741 Solar energy income 2,865 3,138 Total 431,706 204,399 Timing of revenue recognition For the six months ended 30 June 2022 2021 (Unaudited) (Unaudited) US$’000 US$’000 Rental income from investment property operating leases 57,655 50,648 Point in time Management fee 125,606 38,368 Over time Management fee 245,429 85,504 Construction income 151 26,741 Solar energy income 2,865 3,138 431,706 204,399 Note: (i) Rental from investment property operating leases does not include variable lease payments that do not depend on an index or a rate. R E A C H I N G N E W H E I G H T S 56
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