Financial Performance - The company's shareholders' attributable profit for the first half of 2021 was HKD 2,509 million, an increase of 11% compared to HKD 2,262 million in the same period of 2020[11]. - Earnings per share rose to HKD 1.18, up from HKD 1.06 in the first half of 2020[4]. - The group's net profit attributable to shareholders for the six months ended June 30, 2021, was HKD 2,590 million for the six months ended June 30, 2021, compared to HKD 2,262 million in 2020, marking a 14.5% increase[39]. - The group's total comprehensive income for the six months ended June 30, 2021, was HKD 5,875 million, significantly higher than HKD 1,631 million in 2020[27]. - Total revenue for the group for the same period was HKD 615 million, compared to HKD 601 million in 2020, reflecting a growth of about 2.3%[26]. - The group's operating profit for the six months ended June 30, 2021, was HKD 612 million, compared to HKD 596 million in 2020, reflecting a 2.7% increase[34]. - The pre-tax profit for the six months ended June 30, 2021, was HKD 2,579 million, up from HKD 2,321 million in 2020, representing a 11.1% increase[38]. - The group reported a net cash inflow from investing activities of HKD 3,558 million for the first half of 2021, compared to HKD 3,040 million in the same period of 2020, indicating an increase of approximately 17%[30]. Dividends and Shareholder Returns - The interim dividend declared is HKD 0.78 per share, compared to HKD 0.77 per share in 2020[12]. - The company paid a total of HKD 4,354 million in dividends for the year-end dividend, slightly up from HKD 4,333 million in the previous year, marking an increase of about 0.5%[30]. - The board declared an interim dividend of HKD 0.78 per share, payable on September 14, 2021[80]. Business Segments and Contributions - The UK business contributed HKD 1,122 million in profit, an increase from HKD 842 million in 2020[13]. - The Australian business contributed HKD 630 million in profit, a decrease from HKD 663 million in 2020 due to regulatory resets in the distribution network[15]. - The Hong Kong business contributed HKD 294 million in profit, up from HKD 271 million in 2020, with a 1.9% increase in electricity sales in the first half of the year[17]. - In Canada, Canadian Power Holdings (CPH) saw revenue increase due to higher electricity prices in Alberta, with the Sheerness power plant completing its transition from coal to gas[16]. Cash Flow and Financial Position - The operating cash flow for the first six months of 2021 was HKD 2,570 million, slightly up from HKD 2,525 million in 2020[11]. - The net cash generated from operating activities for the first half of 2021 was HKD 221 million, a decrease from HKD 344 million in the same period of 2020, representing a decline of about 35.8%[30]. - The company's operating cash outflow was HKD 269 million for the first half of 2021, compared to HKD 81 million in the same period of 2020, representing a significant increase in cash outflow[30]. - The group's net debt as of June 30, 2021, was HKD 274 million, with a net debt to total equity ratio of 0.3%[23]. - The group's cash and cash equivalents as of June 30, 2021, were HKD 3,328 million, down from HKD 5,427 million as of December 31, 2020[43]. Regulatory and Market Developments - The UK Power Networks is preparing a business plan for a new regulatory period starting in April 2023[13]. - Northern Gas Networks and Wales & West Utilities are appealing to the UK Competition and Markets Authority regarding regulatory decisions that will reduce profit contributions[13]. - The group plans to prepare for the 2023 regulatory reset for UKPN as a priority for the remainder of 2021[20]. Sustainability and Governance - The group is committed to achieving carbon neutrality and has implemented a governance framework for environmental, social, and corporate governance compliance[19]. - The sustainable development committee is chaired by CEO Mr. Cai Zhaozhong, focusing on the development and implementation of sustainable measures[70]. - The company maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange listing rules throughout the six months ended June 30, 2021[58]. - The audit committee reviewed the effectiveness of the risk management and internal control systems for the six months ended June 30, 2021, and deemed them effective and adequate[65]. Shareholder Information - Major shareholders include Hyford Limited, holding 767,499,612 shares, representing 35.96% of the total equity[77]. - Univest Equity S.A. holds 279,011,102 shares, accounting for 13.07% of the total equity[77]. - BlackRock, Inc. holds 107,150,773 shares, representing approximately 5.02% of the total equity[78]. - The company has established various communication channels with shareholders, including annual general meetings and reports[71].

Financial Performance - The company reported a shareholder profit of HKD 6,132 million for 2020, a decrease of 14% from HKD 7,131 million in 2019[20]. - Earnings per share decreased to HKD 2.87 from HKD 3.34, reflecting a decline of approximately 14%[20]. - The total equity amounted to HKD 84,766 million, slightly down from HKD 85,492 million in the previous year[20]. - The group’s net profit attributable to shareholders decreased to HKD 61.32 billion in 2020 from HKD 71.31 billion in 2019, primarily due to a one-time non-cash charge of HKD 7.8 billion related to deferred tax liabilities in the UK[25]. - The UK business contributed a profit of HKD 24.6 billion in 2020, down from HKD 34.89 billion in 2019, impacted by the COVID-19 pandemic and a corporate tax rate of 19%[25]. - The Australian business contributed a profit of HKD 1.329 billion, down from HKD 1.445 billion in 2019, primarily due to the negative impact of the pandemic[29]. - The profit contribution from the mainland China operations decreased to HKD 98 million in 2020, compared to HKD 415 million in 2019, following the transfer of two coal-fired power plants to local partners[30]. Cash Flow and Dividends - The company maintained a cash balance of HKD 5,427 million, an increase from HKD 4,876 million in 2019[20]. - The proposed final dividend is HKD 2.04 per share, increasing from HKD 2.03 in 2019, resulting in a total annual dividend of HKD 2.81 per share for 2020[25]. - The operating cash flow increased from HKD 53.68 billion in 2019 to HKD 55.33 billion in 2020[25]. - The financial position remained strong with net cash of approximately HKD 18 billion as of December 31, 2020, up from HKD 16 billion in 2019[25]. Operational Capacity and Infrastructure - The total length of gas and oil pipelines reached 114,000 kilometers, supporting extensive distribution capabilities[8]. - The total generation capacity for renewable energy and waste-to-energy reached 1,004 MW[8]. - The gas generation capacity was reported at 4,754 MW, while coal and oil generation capacity stood at 4,216 MW[8]. - The company serves a total of 19,192,000 customers, indicating a strong market presence[8]. - The group serves over 19 million customers across 9 global markets with a total generation capacity of approximately 10,000 MW[50]. - In the UK, the group operates four companies providing services to over 13 million residential and commercial customers, with a total generation capacity of 1,144 MW and a network length of 189,400 km[55]. Sustainability and Environmental Initiatives - The group is focused on sustainable growth through strategic investments in energy and utility sectors globally[4]. - The group is committed to achieving net-zero greenhouse gas emissions by 2050, in line with UK government targets[34]. - The group is actively investing in green hydrogen projects, including the Hydrogen Park SA project in South Australia, aimed at reducing carbon content in gas supply[29]. - The group achieved all operational targets at the Jinwan Combined Heat and Power Plant in mainland China, offsetting 199,000 tons of carbon emissions[30]. - The group focuses on reducing carbon emissions through large-scale projects and has implemented electric vehicle charging facilities in multiple regions including Hong Kong, the UK, Australia, and New Zealand[53]. - The group has established a sustainability committee to oversee its sustainability strategies and provide recommendations to the board[155]. Customer Support and Community Engagement - The company launched community relief measures to support residential and commercial customers affected by the economic slowdown[28]. - Hong Kong Electric introduced various relief measures for residential and commercial customers affected by the pandemic, including allowing eligible customers to defer bill payments and waiving electricity tariff increases[79]. - The group has launched five relief measures to assist SMEs and customers, including waiving electricity tariff increases and providing energy efficiency equipment subsidies[43]. - The group continues to provide assistance to residential and commercial customers in distress during the pandemic, ensuring high customer satisfaction and operational reliability[52]. Strategic Development and Future Outlook - The company is focused on digitalizing the distribution network to enhance flexibility and accommodate more renewable energy sources[34]. - The company is advancing a five-year development plan to increase gas generation to 70% by the end of 2023[28]. - The group plans to increase the proportion of gas-fired power generation to 70% of total generation by the end of 2023 in Hong Kong[34]. - The company is expanding its market presence in D regions, aiming for a market share increase of E% by the end of the fiscal year[170]. - Strategic acquisitions are planned to enhance the company's portfolio, with an estimated investment of $F million[171]. Corporate Governance and Management - The company has maintained a high level of corporate governance, which is crucial for stable and transparent operations, attracting investors, and protecting shareholder interests[174]. - The board of directors is committed to maintaining strong corporate governance practices to support sustainable growth[161]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the year[174]. - The management team is well-educated, with qualifications including engineering and business management degrees, enhancing the company's operational capabilities[172]. - The board is responsible for approving and monitoring the group's strategies and policies, as well as evaluating group performance[175].

Financial Performance - The group's unaudited profit for the six months ended June 30, 2020, was HKD 2.262 billion, a decrease from HKD 3.791 billion in 2019, primarily due to a one-time non-cash deferred tax adjustment impacting HKD 780 million [15]. - The profit attributable to shareholders for the six months ended June 30, 2020, was HKD 2.262 billion, down 40.4% from HKD 3.791 billion in 2019 [31]. - The operating profit for the group was HKD 176 million, compared to HKD 443 million in the previous year, reflecting a significant decline [31]. - The group's revenue for the six months ended June 30, 2020, was HKD 601 million, a decrease of 9.6% from HKD 665 million in the same period of 2019 [31]. - The company's profit before tax for the six months ended June 30, 2020, was HKD 2,321 million, a decline of 39% compared to HKD 3,827 million for the same period in 2019 [49]. - The group reported a net profit attributable to shareholders of HKD 2,262 million for the six months ended June 30, 2020, compared to HKD 3,791 million in 2019, representing a decline of approximately 40.4% [44]. - The group's operating profit for the six months ended June 30, 2020, was HKD 701 million, down from HKD 1,033 million in 2019, reflecting a decrease of about 32.2% [39]. - The total comprehensive income of HKD 3,479 million for the six months ended June 30, 2019, compared to HKD 1,631 million for the same period in 2020, indicating a decrease of 53% [34]. Market Contributions - The UK market remains the largest for the group, contributing HKD 842 million in profit, down from HKD 1.825 billion in 2019, affected by the maintained corporate tax rate of 19% [18]. - Hong Kong operations contributed a profit of HKD 271 million, up from HKD 237 million in 2019, with a power supply reliability exceeding 99.999% [19]. - Australia operations generated a profit of HKD 663 million, down from HKD 742 million in 2019, with strong performance in core business offsetting some impacts from currency weakness and COVID-19 [20]. - Profit contribution from mainland China operations decreased to HKD 28 million, down from HKD 254 million in 2019, following the transfer of two coal-fired power plants [21]. Dividends and Shareholder Returns - The group announced an interim dividend of HKD 0.77 per share, consistent with the previous year [16]. - The company paid dividends totaling HKD 4,333 million, consistent with the previous year, indicating stable dividend policy [35]. - The company declared an interim dividend of HKD 1,643 million for the six months ended June 30, 2020, consistent with the same amount declared in 2019 [59]. Operational Measures and Employee Safety - The group has implemented measures to ensure employee safety and maintain operations during the COVID-19 pandemic, including remote work facilitation and provision of protective equipment [17]. - The group expressed gratitude to its team for maintaining normal operations during challenging times, highlighting the resilience of its regulated businesses [14]. Financial Position and Cash Flow - The group maintains a strong cash position with bank deposits and cash totaling HKD 3.361 billion as of June 30, 2020, down from HKD 4.876 billion at the end of 2019 [26]. - The net cash generated from operating activities was HKD 1,262 million, an increase from HKD 1,039 million in the previous year, reflecting a growth of 21.5% [35]. - The company's cash and cash equivalents totaled HKD 3,361 million, down from HKD 4,876 million as of December 31, 2019, representing a decrease of approximately 31% [48]. - Operating cash flow increased to HKD 837 million for the six months ended June 30, 2020, compared to HKD 496 million for the same period in 2019, reflecting a growth of 68% [49]. Regulatory and Market Challenges - The next regulatory period for Northern Gas Networks and Wales & West Utilities is expected to see a significant decrease in return rates, with the final agreement anticipated in December 2020 [18]. - The group is preparing for regulatory resets in multiple major markets, anticipating challenges in achieving satisfactory outcomes [24]. Corporate Governance - The company has maintained high standards of corporate governance, which is crucial for attracting investors and protecting shareholder interests [65]. - The audit committee has reviewed procedures for handling reports of financial reporting or internal control misconduct, enhancing the company's internal control systems [71]. - The company is committed to maintaining transparency and accountability in its operations, which is essential for stakeholder trust [65]. - The company established a nomination committee on January 1, 2019, to review the board's structure, size, diversity, and skills mix [73]. - The internal audit function of the group provides independent assurance on risk management and internal controls effectiveness, reporting to the executive director and audit committee [72]. Asset Management - The group's diversified asset portfolio includes operations in Asia, Europe, Australia, New Zealand, and North America, focusing on thermal and renewable energy generation, transmission, and distribution [15]. - The group is constructing two additional gas turbine units, expected to increase gas-fired generation to approximately 70% of total generation by the end of 2023 [19]. - The group has completed the installation of an 18 MW wind farm and a 13 MW battery in Western Australia, which commenced commercial operations in April 2020 [20]. Shareholder Information - Major shareholders include Hyford Limited, holding 767,499,612 shares, representing 35.96% of the equity [81]. - Univest Equity S.A. holds 279,011,102 shares, accounting for 13.07% of the equity [81]. - Monitor Equities S.A. has a stake of 287,211,674 shares, which is 13.46% of the equity [81]. - Interman Development Inc. owns 186,736,842 shares, representing 8.75% of the equity [81]. - Venniton Development Inc. holds 153,797,511 shares, accounting for 7.21% of the equity [81].

Financial Performance - The group's audited profit attributable to shareholders for 2019 was HKD 7,131 million, a decrease from HKD 7,636 million in 2018[7]. - The earnings per share for 2019 was HKD 3.34, down from HKD 3.58 in 2018[7]. - The total equity increased to HKD 85,492 million in 2019 from HKD 83,557 million in 2018[8]. - The cash balance at the end of 2019 was HKD 4,876 million, compared to HKD 5,229 million in 2018[8]. - The contribution from the UK business to the group's profit was HKD 3,489 million, down from HKD 4,045 million in 2018[16]. - Hong Kong business profit contribution was HKD 777 million, down from HKD 1.018 billion in 2018, primarily due to a decrease in allowed profit return rate under the new regulatory scheme[17]. - Australian business profit contribution was HKD 1.445 billion, slightly down from HKD 1.451 billion in 2018, affected by a weak AUD exchange rate[18]. - Profit contribution from mainland China business was HKD 415 million, down from HKD 469 million in 2018, with a total coal-fired generation capacity reduction of 1,600 MW upon completion of ownership transfers[19]. Renewable Energy and Sustainability Initiatives - The total generating capacity from renewable energy and waste-to-energy was 1,731 MW[6]. - The group aims to support net-zero carbon emission goals by accelerating decarbonization in residential heating and power systems, alongside necessary infrastructure development[21]. - The company plans to increase the proportion of gas-fired power generation to 70% of total generation by 2023, alongside significant reductions in carbon emissions from coal-fired plants[22]. - The group is progressing with a 1.25 MW hydrogen electrolysis plant in South Australia as part of the Hydrogen Park SA project, aimed at developing business models using "green" hydrogen[18]. - The group’s distribution networks are being upgraded to accommodate increased renewable energy integration and the growing demand for electric vehicle charging facilities[21]. - The group is constructing the largest commercial-scale electrolyzer in Australia to produce green hydrogen, integrating it with the existing gas network[38]. - The group’s UK gas distribution company is injecting 20% hydrogen into the existing gas network, aiming to eventually replace natural gas[38]. - The group reduced its coal-fired generation capacity by 1,600 MW, aligning with global carbon reduction goals[38]. Operational Developments - The new gas unit L10 in Hong Kong successfully connected to the grid in October 2019 and commenced operations in February 2020, contributing to asset growth and increasing gas generation to approximately 70% by 2023[17]. - The group’s Australian Energy Operations connected Moorabool and Elaine wind farms to the grid in 2019, contributing to overall performance[18]. - The company has invested in a second plastic sorting line at AVR, significantly enhancing its recycling capabilities and performance[28]. - The company has completed the connection of the 321 MW Moorabool wind farm and the 85 MW Elaine wind farm to the grid[28]. - The company is focusing on renewable energy, waste-to-energy, and gas infrastructure as key areas for investment and growth[24]. - The company is implementing innovative technologies to improve performance in carbon reduction, renewable energy storage, and energy efficiency[24]. Customer and Market Insights - The number of customers in the UK reached 8,300,000, making it the largest market for the group[40]. - UK Power Networks (UKPN) distributed 77.15 billion kWh in 2019, a decrease from 79.63 billion kWh in 2018, while achieving a customer satisfaction rating of 90%, the highest ever[44]. - Northern Gas Networks (NGN) supplied 69.43 billion kWh of gas in 2019, slightly down from 69.72 billion kWh in 2018, and was recognized as the most efficient gas distribution network by Ofgem[47]. - The number of electric vehicles in UKPN's operational area is currently close to 70,000, with an estimated increase to 4 million by 2030[44]. Environmental Impact and Compliance - The total greenhouse gas emissions amounted to 10,885,046 tons of CO2 equivalent in 2019, a decrease from 12,642,974 tons in 2018, representing a reduction of approximately 13.9%[176]. - Nitrogen oxide emissions were recorded at 5,916 tons in 2019, down from 6,951 tons in 2018, indicating a reduction of about 14.9%[176]. - The total amount of non-hazardous waste generated was 545,445 tons in 2019, down from 705,422 tons in 2018, showing a reduction of about 22.7%[176]. - The company has not reported any significant legal violations affecting the environment during the reporting period[139]. Governance and Corporate Structure - The company maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the year ending December 31, 2019[192]. - The board of directors held a total of four meetings in 2019, with additional meetings conducted as necessary[195]. - The audit committee reviewed the governance structure and compliance status of the corporate governance code for the year 2018 and the first half of 2019[194]. - The company has established procedures for directors to seek independent professional advice at the company's expense when necessary[196]. - The company has purchased insurance for the responsibilities of its directors[196]. - The board's diversity status as of December 31, 2019, reflects a commitment to maintaining a diverse composition[198]. Employee Engagement and Development - The company recruited 9 trainee engineers following a recruitment seminar held in 2019[142]. - In 2019, 45 employees received sponsorship for external training courses to enhance their skills[144]. - The company implemented a flexible working arrangement to help employees balance personal needs and job responsibilities[142]. - A training website was launched to provide convenient and efficient training and development courses for all employees[144]. - The company conducted regular employee surveys and workshops to gather feedback for operational improvements[143].

Financial Performance - The group's unaudited profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3,791 million, a decrease of 8% compared to HKD 4,120 million in the same period of 2018[4]. - Earnings per share for the first half of 2019 was HKD 1.78, down 8% from HKD 1.93 in the previous year[4]. - The group's total revenue for the six months ended June 30, 2019, was HKD 665 million, down from HKD 769 million in 2018, representing a decrease of approximately 13.5%[26]. - The operating profit for the same period was HKD 1.033 billion, an increase from HKD 852 million in 2018, reflecting a growth of about 21.3%[26]. - The profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3.791 billion, compared to HKD 4.120 billion in 2018, indicating a decline of approximately 8%[27]. - The pre-tax profit for the six months ended June 30, 2019, was 2,844 million, down from 3,827 million in the same period of 2018, representing a decline of 25.7%[43]. - The total comprehensive income for the six months ended June 30, 2019, was HKD 3,479 million, compared to HKD 4,728 million in the same period of 2018[30]. - Adjusted profit before tax for the six months ended June 30, 2019, was HKD 3,827 million, a decrease from HKD 4,169 million in the same period of 2018, representing a decline of 8.2%[50]. Dividends - The interim dividend declared is HKD 0.77 per share, consistent with the previous year[12]. - The company declared an interim dividend of HKD 1,643 million for the period, compared to HKD 17,139 million in the previous year[30]. - The interim dividend declared for the six months ended June 30, 2019, was HKD 1,643 million, unchanged from the same period in 2018[59]. - The company declared an interim dividend of HKD 0.77 per share, payable on September 10, 2019[83]. Investments and Projects - The group is investing in innovation and technology to reduce carbon emissions, collaborating with government and academic institutions on various projects[13]. - The Northern Gas Networks in the UK is conducting a pilot project to integrate hydrogen and natural gas networks, while Australia’s Australian Gas Networks is working on a hydrogen energy zone project[13]. - The group aims to enhance gas-fired power generation capacity to significantly reduce carbon emissions[14]. - The group plans to increase the proportion of gas-fired power generation to approximately 70% by 2023 in Hong Kong[16]. - The construction of the first gas unit (L10) is nearing completion and is expected to be operational in early 2020[16]. Financial Position - The market capitalization as of June 30, 2019, was HKD 119.946 billion[9]. - The group’s bank deposits and cash as of June 30, 2019, were HKD 3.880 billion, down from HKD 5.229 billion as of December 31, 2018[21]. - As of June 30, 2019, the group's net cash level was HKD 479 million, a decrease from HKD 1.792 billion on December 31, 2018[22]. - The company's cash and cash equivalents decreased to HKD 2,068 million as of June 30, 2019, down from HKD 3,907 million a year earlier[32]. - The net asset value as of June 30, 2019, was HKD 82,679 million, a decrease from HKD 83,557 million at the end of 2018[30]. - The company’s total liabilities decreased to HKD 4,349 million from HKD 4,072 million as of December 31, 2018[28]. - The total assets of joint ventures as of June 30, 2019, were 130,342 million, an increase from 127,200 million as of December 31, 2018, representing a growth of 1.7%[47]. - The group’s total equity attributable to shareholders was 56,873 million as of June 30, 2019, compared to 55,697 million as of December 31, 2018, reflecting an increase of 2.1%[47]. Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations[64]. - The audit committee reviewed the effectiveness of the risk management and internal control systems as of June 30, 2019, and deemed them effective and adequate[71]. - The company is committed to maintaining high standards of corporate governance to attract investors and protect shareholder interests[64]. - The company’s nomination committee was established on January 1, 2019, and is composed of all directors, deviating from the code's requirements[64]. - The company’s secretary ensures compliance with all relevant laws and regulations, including the listing rules and corporate governance developments[66]. - The company established a Nomination Committee on January 1, 2019, chaired by Mr. Ho Kwan Ning, to review the board's structure and diversity[72]. - The Remuneration Committee, formed on January 1, 2005, consists of three members, two of whom are independent non-executive directors, and is responsible for reviewing the remuneration policies for directors and senior management[73]. - The Audit Committee, established on January 1, 1999, is composed of three independent non-executive directors and oversees financial reporting, risk management, and internal control systems[74]. Shareholder Information - Major shareholders include Hyford Limited holding 767,499,612 shares, representing 35.96% of the total equity[81]. - The company has established multiple communication channels with shareholders, including annual general meetings and reports[75]. - The company’s communication policy aims to facilitate effective communication with shareholders[76]. - The company’s board of directors and senior management have disclosed their interests in shares and related securities as required by the Securities and Futures Ordinance[80]. - The company’s Audit Committee regularly meets with external auditors to discuss audit procedures and accounting matters[74].

Financial Performance - Shareholders' profit attributable to the company for 2018 was HKD 7,636 million, a decrease of 8% from HKD 8,319 million in 2017[8] - Basic earnings per share for 2018 was HKD 3.58, down 8% from HKD 3.90 in 2017[8] - The company achieved an 11% increase in core business performance, excluding one-time gains from property sales in 2017[20] - The proposed final dividend is HKD 2.03 per share, with a total annual dividend of HKD 2.80 per share[20] - The group is undertaking a significant capital investment plan of HKD 26.6 billion, which includes a 20% reduction in future dividends due to regulatory changes[22] Capital Investment and Projects - The group has been authorized by the Hong Kong government to invest HKD 26.6 billion in capital projects over the next five years, with 61% of the funds allocated for upgrading the power generation mix, gradually transitioning from coal to gas[25] - The new gas units are expected to be operational by 2023, increasing the gas generation proportion to approximately 70% of total power generation[22] - The Iberwind project in Portugal aims to increase wind power generation capacity by 60%, with construction expected to commence in 2019[25] - AEO has received government approval to build and operate two new wind farms in Australia, with a total capacity of 465 MW, expected to be operational in the first half of 2019[29] - The company has completed the construction of a new oil pipeline capable of transporting 100,000 barrels per day, which is expected to enhance operational efficiency[25] Sustainability and Environmental Initiatives - The company is actively investing in innovative technologies to improve performance in carbon reduction and renewable energy management[15] - The company is committed to sustainable energy solutions and has a diversified asset portfolio across four continents[15] - The group is investing in innovative projects to reduce carbon emissions and support global climate change goals[22] - The company aims to reduce greenhouse gas emissions by 37% from 1990 levels by 2020, in line with UK targets[36] - The company has developed an action plan to respond to extreme weather events, including contingency measures and staff deployment strategies[61] Operational Performance - The company reported a stable performance in 2018, reflecting the excellence of its asset portfolio, with a focus on customer service, operational efficiency, and environmental protection[32] - The group has achieved a record of zero system switching incidents in the past year, showcasing operational excellence in network management[24] - UK Power Networks (UKPN) achieved a distribution volume of 79.639 billion kWh in 2018, a 0.7% increase from 2017, while maintaining the lowest electricity system usage charges among UK operators[41] - UKPN invested approximately £620 million in its regulated network in 2018 to maintain high reliability standards[41] - The company operates over 24 assets globally, with a diversified portfolio across Asia, Australia, North America, and Europe[32] Customer Engagement and Community Support - The company actively engages with customers through surveys and modern communication platforms to maintain high customer satisfaction levels[167] - The company served over 2,100 elderly individuals through its "Warmth Community" program, providing care and assistance[172] - The company conducted approximately 1,000 courses at the "Hong Kong Third Age Academy," with a total enrollment of 16,300 participants in 2018[173] - UKPN contributed HKD 3,529,335 to local charities and communities in 2018 through various donation programs[177] - The "Green Energy Dream Come True" competition in 2018 supported 13 secondary school teams to promote energy efficiency and renewable energy[177] Corporate Governance - The company maintained a high level of corporate governance, ensuring transparency and attracting investors, which is crucial for shareholder value[187] - The board of directors held four meetings in 2018, with attendance records indicating full participation from executive directors[190] - The audit committee reviewed the governance structure and compliance with corporate governance codes during meetings held in March and July 2018[187] - The company’s governance policies aim to protect the rights of shareholders and stakeholders, enhancing the value of shares held[187] - The company has established procedures for directors to seek independent professional advice when necessary, with costs covered by the company[191] Environmental Impact and Compliance - The company achieved outstanding performance in emissions, with the Jinwan Power Plant being one of the few coal-fired power plants in mainland China with "near-zero" emissions[166] - The total greenhouse gas emissions amounted to 12,642,974 tons of CO2 equivalent, an increase from 12,195,081 tons in 2017, representing a rise of approximately 3.7%[178] - The total nitrogen oxides emissions in 2018 were 6,951 tons, up from 6,816 tons in 2017, indicating an increase of about 2.0%[178] - The total harmful waste generated in 2018 was 66,541 tons, slightly down from 66,649 tons in 2017, showing a decrease of about 0.2%[178] - The company has implemented various environmental protection measures to mitigate the impact of business activities on biodiversity and local ecosystems[143]