Group 1 - Vanke A (万科A) closed at 6.77 yuan on May 16, 2025, down 0.29% with a turnover rate of 0.56% and a trading volume of 544,700 shares, amounting to a transaction value of 368 million yuan [1] - On the same day, the fund flow for Vanke A showed a net outflow of 23.47 million yuan from institutional investors, while retail investors had a net inflow of 17.63 million yuan [2][4] - Vanke Enterprise Co., Ltd. announced the interest payment for the "21 Vanke 04" bond on May 20, 2025, with an interest distribution of 37.00 yuan (including tax) for every 10 bonds with a face value of 1,000 yuan [2][4] Group 2 - The bond has a total balance of 566 million yuan, a term of 7 years, and a current coupon rate of 3.70%, with the issuer having the right to redeem at the end of the 5th year [2] - The interest payment date is set for May 20, 2025, with the record date on May 19, 2025, and the interest subject to a personal income tax rate of 20% for individual investors [2][4]

Market Overview - Hong Kong stocks surged today, with all three major indices rising over 2%. The Hang Seng Index increased by 2.3% or 532.38 points, closing at 23640.65 points, with a total turnover of 2228.41 million HKD [1] - The positive sentiment in the market is attributed to the unexpected progress in the first round of trade negotiations between China and the US, which is expected to continue in a constructive direction [1] Blue-Chip Stocks Performance - JD Health (06618) saw a notable increase of 5.13%, closing at 39.95 HKD, contributing 3.56 points to the Hang Seng Index. The company reported Q1 2025 revenue of 16.645 billion RMB, a year-on-year growth of 25.5%, and operating profit of 1.071 billion RMB, up 119.8% [2] - Other blue-chip stocks included China Life (02628) rising by 6.55% to 16.26 HKD, AIA (01299) up 5.15% to 65.3 HKD, while Link REIT (00823) fell by 1.34% to 40.45 HKD [2] Sector Performance - Large technology stocks collectively rose, with Baidu increasing over 4% and Alibaba and JD both rising over 3% [3] - Financial stocks experienced a significant rally, with China Pacific Insurance (02601) up 6.77% to 24.45 HKD, China Life (02628) up 6.55%, and GF Securities (01776) up 6.31% to 11.46 HKD [3] Shipping Sector - The shipping sector performed well, with Pacific Basin Shipping (02343) rising by 7.78% to 1.94 HKD and Seafront International (01308) up 6.51% to 22.9 HKD. The improvement is linked to the easing of tariff conflicts and a seasonal increase in container shipping demand [4][5] Automotive Sector - The automotive sector saw widespread gains, with Li Auto (02015) rising by 4.54% to 112.8 HKD and Xpeng Motors (09868) up 3.87% to 81.8 HKD. The retail sales of new energy passenger vehicles reached 905,000 units in April, a year-on-year increase of 33.9% [6][5] Coal Sector - The coal sector showed positive movement, with China Coal Energy (01898) up 4.91% to 8.55 HKD. Despite recent price declines, analysts suggest that demand may improve as summer approaches [7] Notable Stock Movements - Tencent Music (01698) surged by 12.84% to 61.5 HKD, reporting Q1 2025 revenue of 7.36 billion RMB, with online music service revenue growing by 15.9% [8] - Smoore International (06969) reached a new high, increasing by 10.18% to 17.32 HKD, amid rising sales of new tobacco products [9] - MicroPort Scientific (02252) saw a decline of 8.12% to 16.52 HKD due to a share placement announcement [10] - Samsonite (01910) dropped by 8.58% to 14.06 HKD after reporting a 7.3% decrease in net sales for Q1 2025 [11]

金融界4月2日消息，上证指数低开震荡，中证沪港深互联互通基建指数 (沪港深通基建，H30558)报 1477.90点。 从中证沪港深互联互通基建指数持仓的市场板块来看，上海证券交易所占比50.71%、香港证券交易所 占比37.59%、深圳证券交易所占比11.70%。 据了解，"中证沪港深主题指数系列基于中证沪港深互联互通综合指数样本和中证沪港深 500 指数样 本，同时结合中证行业分类的主题定义，选取相应主题指数样本，从多种主题投资的角度反映了在沪港 深三地上市的互联互通范围内证券的整体表现。"该指数以2004年12月31日为基日，以1000.0点为基 点。 从指数持仓来看，中证沪港深互联互通基建指数十大权重分别为：中国移动（11.52%）、长江电力 （8.2%）、中电控股（2.91%）、中国电信（2.91%）、长和（2.68%）、中国建筑（2.63%）、中国移 动（2.32%）、中国联通（2.12%）、中国核电（1.85%）、中国电信（1.84%）。 从中证沪港深互联互通基建指数持仓样本的行业来看，公用事业占比43.31%、工业占比26.77%、通信 服务占比26.59%、能源占比3.33%。 数据统计显示 ...

Core Points - The A-share market indices closed mixed, with the China Securities Hong Kong-Shenzhen Connect Infrastructure Index at 1461.15 points [1] - The index has seen a 0.52% increase over the past month, a 2.31% decrease over the past three months, and a year-to-date decline of 2.31% [1] - The index is based on the comprehensive index samples of the Hong Kong-Shenzhen Connect and the China Securities 500 Index, reflecting the overall performance of securities listed in the three regions [1] Index Holdings - The top ten weighted stocks in the index include China Mobile (11.6%), China Yangtze Power (8.26%), China Telecom (2.96%), CLP Holdings (2.9%), China State Construction (2.66%), CK Hutchison Holdings (2.66%), China Mobile (2.35%), China Unicom (2.15%), China Nuclear Power (1.84%), and China Telecom (1.83%) [1] - The market share of the index holdings is distributed as follows: Shanghai Stock Exchange 50.81%, Hong Kong Stock Exchange 37.51%, and Shenzhen Stock Exchange 11.68% [1] Industry Composition - The industry composition of the index holdings shows that utilities account for 43.11%, industrials for 26.78%, communication services for 26.78%, and energy for 3.32% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

一脈相連 擁抱未來 股份代號：00002 2024年報 2024 年報 九龍啟德承啟道43號 中電總部 2024 年報 股份代號：00002 2024年報 一脈相連 擁抱未來 2024年報 引言 歡迎閱覽中電年報。在亞太區能源行業正迅速轉變之際，本年報深入探討集團如何抓緊 新機遇並提升組織能力，以穩健的業績為業務轉型和增長奠定堅實的基礎。 中電對可持續發展和減碳的承諾是成功的關鍵。 除了符合監管匯報準則外，本年報旨在讓持份者 更深入了解我們在建立長遠業務方面所付出的努力， 評估我們面對與可持續發展的相關風險，以及識別 集團的投資機會。本年報依據香港財務報告準則S1 號—可持續相關財務信息披露一般要求及香港財務 報告準則S2號—氣候相關披露的指引編製，並在 相關的中電《可持續發展報告》及 《氣候願景2050： 推進有序轉型》 中作出補充披露。同時，我們亦 遵循自2025年1月1日生效的香港聯合交易所新訂的 《環境、社會及管治（ESG）報告守則》所載的報告 原則。 本年報提供了一系列更廣泛的可持續發展目標和指 標，讓讀者能夠評估集團在管理業務關鍵議題方面 的表現。目前，我們正進行檢討，以便在下一個報 告周期，進一 ...

Financial Performance - Operating profit for 2024 reached HK$10.49 billion, an increase of 8%[24] - Total profit for 2024 was HK$11.74 billion, a significant rise of 76%[24] - The total dividend for 2024 was HK$3.15 per share, reflecting a growth of 1.6%[31] - EBITDAF for 2024 amounted to HK$25.73 billion, representing a 9% increase[31] - Operating profit increased by 8% to HKD 10,949 million in 2024, compared to HKD 10,127 million in 2023[36] - The total profit surged by 76% to HKD 11,742 million, up from HKD 6,655 million in the previous year[36] - Apraava Energy's operating profit grew by 9% to HKD 329 million, implementing profit growth strategies[36] Customer and Market Growth - The total number of customers in Hong Kong increased by 28,000, reaching 2.8 million[24] - The Hong Kong electricity sales volume rose by 2.1% due to an accelerated economic recovery and hot weather[40] Operational Performance - The electricity generation output for 2024 was 79.8 billion kWh, a slight increase of 0.3%[24] - The installed generation capacity was 22,600 MW, with an increase of 700 MW[24] - EnergyAustralia's performance showed significant improvement, contributing positively to overall results[33] - EnergyAustralia's performance improved significantly with a 425% increase in operating profit to HKD 591 million, driven by strong generation asset performance[36] - The mainland China segment saw an 11% decline in operating profit to HKD 1,851 million, primarily due to reduced contributions from nuclear power[36] Capital Expenditure and Investments - Capital expenditure for regulated projects was HKD 10.8 billion, including HKD 2.8 billion for generation and HKD 8 billion for transmission and distribution[40] - Capital investments (excluding maintenance capex) for 2024 are estimated at 169 billion HKD, with dividends paid amounting to 78 billion HKD[57] - The company invested over HKD 200 million in the "CLP Community Energy Saving Fund" to support residential and commercial customers in promoting carbon reduction and energy savings[40] Energy Transition and Sustainability - The company completed a strategic review to support long-term sustainable growth through energy transition[22] - The company is focusing on energy transition initiatives, including the introduction of more zero-carbon energy sources to meet the 2035 carbon reduction targets[40] - EnergyAustralia plans to expand its renewable energy portfolio to 3,000 MW by the end of 2030, enhancing its flexible generation capacity[46] - Renewable energy projects are currently executing approximately 2,000 MW of zero-carbon projects, including the largest 300 MW solar project to date[49] - The company aims to achieve a 59% reduction in greenhouse gas emissions intensity by 2030 and eliminate coal assets by 2040 as part of its climate vision[70] - The renewable energy target for 2030 includes achieving 3,000 MW through power purchase agreements, with a focus on energy transition investments in favorable regulatory environments[74] - The company has set a goal to develop approximately 8,000 MW of renewable energy capacity, including 1.6 GW of storage and 0.9 GW of renewable energy in India[74] Financial Health and Strategy - The net debt as of December 31, 2023, is 56.3 billion HKD, with a leverage ratio of 33.0%[60] - The company maintains a disciplined capital allocation strategy, generating strong free cash flow and promoting ordinary dividend growth consistent with underlying earnings[80] - The company has a strong investment-grade credit rating, with S&P rating at A and Moody's at A2, ensuring robust financing strategies[80] Digital and Operational Excellence - The company is committed to enhancing its digital and data capabilities, integrating digitalization throughout its operations[79] - The company is focused on maintaining a world-class power supply reliability through its smart grid strategy[72] - The company aims to become the preferred partner for customers in the region for decarbonization solutions, including integrated energy services for buildings and low-carbon transport[72] Safety and Reliability - The safety record improved with a total recordable injury rate of 0.24, a decrease of 0.06[24] - The company is focusing on managing fuel costs and supply to maintain operational reliability and safety performance in thermal power generation[52]

Financial Performance - CLP Holdings reported an operating profit increase of 8.1% to HKD 10,949 million for 2024, reflecting strong market performance[4]. - Total profit surged to HKD 11,742 million, significantly up from HKD 6,655 million in 2023, primarily due to the absence of one-time negative items[5]. - Comprehensive revenue rose by 4.4% to HKD 90,964 million, driven by higher wholesale market prices in Australia[5]. - The total dividend for 2024 increased by 1.6% to HKD 3.15 per share, compared to HKD 3.10 per share in 2023[6]. - The operating profit of the company's operations in mainland China was HKD 1,851 million in 2024, a decrease of 10.7% from HKD 2,073 million in 2023, primarily due to lower electricity prices at the Yangjiang Nuclear Power Station and increased costs[23]. - EnergyAustralia reported an operating profit of HKD 591 million in 2024, a significant improvement from an operating loss of HKD 182 million in 2023[29]. - The Mount Piper power plant's output increased by 31% to 7,010 GWh compared to 5,360 GWh in 2023, benefiting from a stable coal supply[33]. - The group reported a net profit of HKD 12,718 million for the year, an increase from HKD 12,000 million in 2023, representing a growth of 6.0%[61]. Investments and Initiatives - CLP Holdings is investing in low-carbon fuel initiatives, including the commissioning of advanced gas turbine units and the retirement of coal-fired units[6]. - The company has 740 MW of renewable energy projects under construction in mainland China, contributing to national decarbonization goals[7]. - Apraava Energy in India is developing over 2,000 MW of zero-carbon energy projects to meet growing electricity demand[9]. - The company is enhancing its strategy to ensure sustainable growth and adaptability to changing market conditions[10]. - The company plans to establish a joint venture with CNOOC Guangdong Shipping Clean Energy Co., Ltd. to provide LNG refueling services in Hong Kong, expected to start in the first half of 2025[17]. - The company is constructing its first independent battery storage system in Shandong, with a capacity of 100 MW, expected to be completed in 2025[26]. - Apraava Energy aims to triple its low-carbon energy portfolio in the medium term, emphasizing its role in India's energy transition[39]. Renewable Energy and Sustainability - The company has ongoing renewable energy projects totaling 590 MW, including wind and solar projects, with several expected to be operational by 2025[25]. - The company's renewable energy projects are designed to operate without government subsidies, with a total capacity increase of approximately 1,530 MW expected upon completion of new projects[26]. - The "Feed-in Tariff" program has approved a generation capacity of over 400 MW since its launch in 2018, equivalent to the annual electricity consumption of about 99,700 households[21]. - The company is committed to supporting the government's plans for the electrification of public buses and taxis, aligning with the green transformation roadmap[20]. - China Light and Power's renewable energy portfolio continues to expand, signing a ten-year green power certificate agreement with a multinational software company, marking the largest and longest such transaction to date[27]. Customer Engagement and Technology - The company continues to enhance customer interaction through a new mobile application that consolidates all electricity accounts, improving overall customer experience[22]. - The electric vehicle charging demand is increasing, with seven out of ten newly registered vehicles in Hong Kong being electric, prompting the company to provide innovative charging solutions[19]. - The company showcased new electric vehicle charging technologies at the ReThink HK 2024 event, including customized power solutions for fast charging[19]. - In 2024, the company launched a new electric vehicle charging station network in Hong Kong, providing ultra-fast and medium-speed charging services to meet the growing demand from commercial fleets and electric taxis[20]. Financial Position and Assets - The company's non-current assets reached HKD 206,874 million in 2024, compared to HKD 202,121 million in 2023, reflecting a growth of 2.9%[53]. - The total assets of the group as of December 31, 2024, amounted to HKD 233,713 million, compared to HKD 220,000 million in 2023, showing a growth of 6.2%[61]. - The group’s total liabilities as of December 31, 2024, were HKD 123,595 million, up from HKD 120,000 million in 2023, indicating a rise of 3.0%[61]. - The total receivables as of December 31, 2024, amount to HKD 14,114 million, compared to HKD 13,650 million in 2023, indicating a growth of approximately 3.4%[71]. - The group maintains a strong financial position with HKD 31 billion in undrawn bank loan facilities and HKD 5 billion in bank balances as of December 31, 2024[76]. Corporate Governance and Compliance - The company has adopted a corporate governance code that exceeds the standards set by the Hong Kong Stock Exchange, with only one deviation regarding the publication of quarterly earnings reports[84]. - The company has maintained compliance with the corporate governance code and the securities trading code throughout the fiscal year ending December 31, 2024[86]. - The audit committee reported that there were no significant internal control issues affecting the integrity of the financial statements during the period from January 1, 2024, to the announcement date[85]. - The internal audit department completed 17 audits and 8 special review reports in 2024, with two audit reports indicating less than ideal results, but no identified control weaknesses significantly impacting the financial statements[85].

Investment Rating - The report initiates coverage with an OUTPERFORM rating for CLP Holdings [3][31]. Core Views - CLP Holdings is a century-old energy operator rooted in Hong Kong, with diversified operations across the Asia Pacific region [5]. - The company has shown significant profit recovery in 2023, with a net profit of HK$6.655 billion, reflecting a 620.2% year-on-year increase [7][10]. - The company aims to achieve a net-zero power generation target by 2050, aligning with Hong Kong's climate action goals [18]. Summary by Sections 1. Company Overview - CLP Holdings is one of the largest private power companies in the Asia Pacific, with operations in Hong Kong, mainland China, Australia, India, Taiwan, and Thailand [5]. - The company operates a diverse generation portfolio, including coal, gas, nuclear, wind, hydro, and solar power [5]. 2. Financial Performance - Revenue has fluctuated from HK$85.689 billion in 2019 to HK$97.169 billion in 2023, with a CAGR of approximately 0.4% [7]. - The company’s operating profit before fair value changes was HK$101.27 billion in 2023, with Hong Kong contributing 76% [10]. - The company maintained a stable dividend policy, with a dividend yield of 4.81% in 2023 [14]. 3. Market Position - CLP Holdings is one of the two major electricity suppliers in Hong Kong, providing power to over 2.79 million customers [5]. - The company’s operations are regulated under a scheme that guarantees a return on investment, ensuring stable revenue streams [20]. 4. Renewable Energy Transition - The company is committed to expanding its renewable energy portfolio, with significant growth potential in mainland China, Australia, and India [26]. - CLP Holdings plans to phase out fossil fuel assets and increase renewable energy capacity, aiming for a reduction in greenhouse gas emissions intensity by 2030 [29]. 5. Future Outlook - The report forecasts revenues of HK$902.66 billion, HK$938.67 billion, and HK$985.31 billion for 2024-2026, with net profits projected at HK$69.41 billion, HK$73.38 billion, and HK$75.63 billion respectively [31].

Financial Performance - The group's operating profit before fair value changes increased by 22.0% to HKD 5,683 million, driven by strong performance across various businesses and improved earnings from EnergyAustralia[4]. - Total revenue for the first half of 2024 reached HKD 44,086 million, a 1.8% increase from HKD 43,302 million in the same period last year[5]. - Total profit for the first half of 2024 was HKD 5,951 million, up 17.6% from HKD 5,060 million in the previous year[4]. - Earnings per share increased to HKD 2.36, representing a 17.6% growth compared to HKD 2.00 in the same period last year[5]. - Cash inflow from operating activities rose significantly by 52.2% to HKD 9,016 million, compared to HKD 5,922 million in the previous year[5]. - The consolidated EBITDAF for 2024 reached HKD 12,990 million, an increase of 17.2% from HKD 11,082 million in 2023[16]. - The EBITDAF for Hong Kong was HKD 9,125 million, up 5.6% from HKD 8,641 million in 2023[16]. - The EBITDAF for Australia surged to HKD 2,224 million, a significant increase of 362.4% from HKD 481 million in 2023[16]. - The net financial expenses increased to HKD 6,910 million, reflecting a rise of 15.8% from HKD 5,966 million in 2023[17]. - The company reported a one-time income of HKD 106 million from the Hagler Power Plant in India, contributing to the overall performance improvement[16]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.63 per share, consistent with the previous year's dividend[8]. - The annual bonus for 2024 includes a payment of 20.8 million HKD for early payments of long-term bonuses for 2022, 2023, and a pro-rated amount for 2024[6]. - The company declared dividends totaling HKD 4,649 million during the period, including HKD 1,592 million for the first interim dividend of 2024[103]. Assets and Liabilities - The total assets as of June 30, 2024, were HKD 234,343 million, a 2.3% increase from HKD 229,051 million at the end of 2023[5]. - The net debt to total capital ratio increased to 34.0% from 31.6% in the previous year[5]. - Fixed assets, right-of-use assets, and investment properties totaled HKD 165,657 million as of June 30, 2024, up 2.5% from HKD 161,663 million at the end of 2023[20]. - The net debt increased to HKD 58,818 million, a rise of 12.4% from HKD 52,311 million in 2023[20]. - The total liabilities stood at HKD 120,846 million, with bank loans and borrowings accounting for HKD 61,765 million[108]. Renewable Energy Initiatives - The company is focusing on low-carbon energy solutions to meet growing energy demands and achieve carbon reduction goals[8]. - The total installed capacity of renewable energy projects in mainland China reached 450 MW, with 300 MW of new projects under construction[11]. - The company is actively pursuing opportunities in green hydrogen production to support Hong Kong's goal of achieving net-zero emissions by 2050[11]. - The contribution from renewable energy projects in mainland China was stable, supported by increased water resources and new wind and solar projects[16]. - The renewable energy generation capacity approved has increased to 391 MW, equivalent to the annual electricity consumption of 96,500 households[36]. Operational Efficiency and Customer Service - The reliability of electricity supply in Hong Kong reached a world-class level of 99.999%[12]. - The installation of smart meters is nearing completion, with over 2.44 million smart meters connected as of June 30, allowing customers to monitor their electricity usage[36]. - The company serves approximately 281,000 customers in Kowloon, New Territories, and most outlying islands in Hong Kong, achieving 100% customer service coverage[144]. - The company operates a total of 14,773 kilometers of transmission and distribution lines, with 100% operational efficiency in Hong Kong[144]. Environmental and Safety Initiatives - The company aims to enhance its health, safety, and environmental management strategies by the end of this year, focusing on adapting to changing business needs[57]. - The company has not recorded any environmental violations leading to fines or prosecutions in the first half of 2024[58]. - The total recordable injury rate for employees increased to 0.26 in the first half of 2024 from 0.08 in the same period of 2023, indicating a significant rise in workplace incidents[55]. - The loss time injury rate for employees rose to 0.15 in the first half of 2024, compared to 0.03 in the same period of 2023, highlighting a concerning trend in workplace safety[55]. Strategic Developments and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[109]. - The company is focusing on enhancing operational capabilities through strategic partnerships and potential acquisitions[108]. - Future outlook remains positive, with ongoing investments in new technologies and market expansion strategies planned[108]. - The company is enhancing its reporting standards to better communicate the impacts, risks, and opportunities related to sustainability[61]. Corporate Governance and Management - The company appointed a new Chief Financial Officer, effective April 1, 2024, as part of a succession plan[73]. - The total remuneration for the CEO, Mr. Jiang Dongqiang, for the six months ended June 30, 2024, was HKD 14.0 million, which includes basic salary, performance bonuses, and other benefits[83]. - The total remuneration for the CFO, Mr. Ji Anli, for the same period was HKD 9.2 million, reflecting a combination of regular and performance-based compensation[83]. - The company has established and follows an effective risk management and internal control system, as monitored by the Audit and Risk Committee[85]. Community Engagement and Social Responsibility - The "CLP Community Energy Saving Fund" allocated over HKD 200 million in 2024 to assist vulnerable communities with energy costs, including HKD 50 million for electricity subsidies[35]. - EnergyAustralia's employees donated over AUD 150,000 to charities, with the company matching donations, and contributed approximately 500 hours of volunteer service[67]. - The company has implemented various support measures for vulnerable communities to alleviate the burden of energy costs amid moderate economic growth in Hong Kong[10].

Financial Performance - In the first half of 2024, CLP Holdings reported an operating profit of HKD 5,683 million, a 22.0% increase, driven by strong performance across its businesses and improved earnings from EnergyAustralia[3]. - Total profit for the first six months rose to HKD 5,951 million, compared to HKD 5,060 million in the same period last year, reflecting a 17.6% year-on-year growth[4]. - The group's consolidated revenue slightly increased by 1.8% to HKD 44,086 million[3]. - Operating profit for the first half of 2024 increased by 22.0% to HKD 5,683 million, driven by strong performance across various businesses and improved profitability from EnergyAustralia[9]. - Total profit for the first six months of 2024 grew to HKD 5,951 million, reflecting a 17.6% increase compared to the same period in 2023[10]. - The company reported a basic and diluted earnings per share of HKD 2.36 for the first half of 2024, compared to HKD 2.00 in the same period of 2023[43]. - The total comprehensive income for the period was HKD 6,330 million, an increase from HKD 5,144 million in the previous year[44]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.63 per share, consistent with the previous year[5]. - The company announced an interim dividend of HKD 0.63 per share for the second period of 2024, consistent with the dividend of HKD 0.63 per share in 2023, to be distributed on September 13, 2024[75]. - The dividend will be distributed based on the currently issued shares totaling 2,526,450,570[75]. Energy Transition and Sustainability Initiatives - CLP Holdings is focusing on low-carbon energy solutions, with a new 600 MW gas-fired unit D2 at the Lung Kwu Tan Power Station now operational[6]. - The company is committed to enhancing its financial strength and strategic position in the Australian market to contribute to the clean energy transition[7]. - CLP Holdings is actively pursuing opportunities in green hydrogen production to support Hong Kong's goal of achieving net-zero emissions by 2050[6]. - The company is committed to investing in opportunities arising from the transition to a net-zero future, aiming to provide affordable, reliable, and sustainable energy[8]. - The company aims to reduce greenhouse gas emissions intensity from electricity sold by tightening the target from 0.3 kg CO2 equivalent per kWh to 0.26 kg CO2 equivalent by 2030[36]. - The company has not recorded any environmental violations leading to fines or prosecutions in the first half of 2024[35]. - The company has received multiple awards for its sustainability reporting, including the Gold Award at the Asia Annual Report Awards for six consecutive years[38]. Renewable Energy Projects - In mainland China, existing renewable energy projects saw a slight increase in generation, with 300 MW of new projects under construction, bringing total wind and solar capacity to 450 MW[7]. - Apraava Energy in India secured multiple low-carbon project development rights, including a 350 MW renewable energy project and installation of over 1.7 million smart meters[7]. - EnergyAustralia is developing flexible generation capacity projects and advancing significant energy storage projects in Victoria and South Australia[7]. - CLP's renewable energy development in mainland China remains robust, with solar and hydropower output increasing due to new projects, despite some operational challenges at nuclear plants[19]. - CLP China has initiated construction on 300 MW of solar and wind projects, including a 100 MW wind farm in Guizhou and two solar projects in Jiangsu, expected to be operational by mid-2025[20]. - Apraava Energy is actively developing renewable energy projects, including a 350 MW capacity and nearly 200 km of transmission lines, to meet India's growing energy demand[27]. - Apraava Energy successfully secured a 300 MW solar PV project in Rajasthan, with construction expected to begin in the second half of this year[28]. - The company has also won a 50 MW solar project in the same state, with construction anticipated to start after receiving approval later this year[28]. Customer and Market Developments - Electricity sales in Hong Kong rose to 16,743 million kWh, a 2.6% increase year-on-year, supported by economic recovery and higher demand due to warmer weather[12]. - The reliability of electricity supply remains at a world-class level of 99.999%, with ongoing efforts to enhance supply reliability and minimize public impact during incidents[14]. - Average net electricity price was reduced by 1.6% in the first half of 2024, in response to declining international fuel prices[15]. - Profit from the Hong Kong energy business increased by 2.8% to HKD 4,165 million, while profit from mainland China decreased by 28.0% to HKD 988 million due to planned outages[10]. - The Indian segment saw a significant profit increase of 59.8% to HKD 203 million, attributed to higher electricity prices and stable contributions from renewable energy projects[10]. - EnergyAustralia's retail customer count decreased by 23,200, approximately 1%, by June 2024 compared to December 2023, although customer satisfaction scores improved[23]. Operational Efficiency and Safety - The company is implementing a comprehensive review of its power supply system management to reduce electricity incidents and improve response times[14]. - The company is committed to enhancing workplace health and safety, with a strategy update planned by the end of the year to strengthen health and safety management systems[34]. - The total recordable injury rate and lost time injury rate slightly increased, reflecting a rise in incidents during maintenance shutdowns[32]. - The lost time injury rate for employees increased to 0.15 in the first half of 2024 from 0.03 in the same period of 2023, while the total recordable injury rate rose to 0.26 from 0.08[33]. Financial Position and Capital Management - The company reported a decrease in cash and cash equivalents to HKD 2,929 million from HKD 5,182 million, a decline of 43.3%[46]. - The bank loans and other borrowings increased to HKD 48,443 million from HKD 44,943 million, an increase of 7.1%[47]. - The group maintained a strong liquidity position with HKD 27.3 billion in undrawn bank loan facilities and HKD 2.9 billion in bank balances as of June 30, 2024[66]. - The group secured a total loan facility of HKD 5.3 billion during the first half of 2024 for refinancing and business needs[66]. - The group’s net debt to total capital ratio increased to 34.0% as of June 30, 2024, up from 31.6% at the end of 2023[68]. - Funds from operations (FFO) interest coverage ratio improved to 9 times for the six months ended June 30, 2024, compared to 7 times in the same period of 2023[68]. Governance and Compliance - The board of directors was updated with new members, receiving strong support from shareholders during the 2024 annual meeting[69]. - The company maintained compliance with its corporate governance code, with only one deviation regarding the publication of quarterly financial results[71]. - The audit and risk committee submitted five audit reports and three special review reports, with no significant issues identified affecting the financial statements[73].