BEIJING ENT(00392)

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北京控股(00392) - 2019 - 年度财报
2020-04-16 14:56
Financial Performance - The company achieved a revenue of HKD 67.78 billion in 2019, remaining stable compared to the previous year[8]. - The profit attributable to shareholders increased by 6.3% to HKD 8.05 billion, with basic and diluted earnings per share reaching HKD 6.38, also up by 6.3%[8][12]. - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose by 6.2% to approximately HKD 15.95 billion[12]. - The total assets of the company increased by 6.5% to HKD 185.81 billion, while cash and bank balances grew by 23.5% to HKD 22.16 billion[8]. - The gross profit margin improved to 16.1%, up from 15.6% in the previous year[9]. - The net profit margin increased to 12.6%, compared to 11.7% in 2018[9]. - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the latest financial year[41]. - The company reported a net profit margin of 18%, which is an improvement from 16% in the previous year[43]. - Total revenue for the year ended December 31, 2019, was HKD 67,783,028 thousand, a slight increase from HKD 67,764,770 thousand in 2018[114]. - Gross profit for 2019 was HKD 10,946,137 thousand, compared to HKD 10,563,665 thousand in the previous year, reflecting a growth of approximately 3.6%[114]. - Profit before tax increased to HKD 9,595,978 thousand, up from HKD 9,095,451 thousand in 2018, representing a growth of about 5.5%[114]. - Net profit for the year was HKD 7,936,641 thousand, a decrease from HKD 8,573,609 thousand in 2018, indicating a decline of approximately 7.4%[115]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.74 per share, reflecting an 8.6% increase from the previous year[12]. - The company declared an interim dividend of HKD 0.40 per share and proposed a final dividend of HKD 0.74 per share for the year ending December 31, 2019, subject to shareholder approval[56]. - The company paid total dividends of HKD 1,426,120 in 2019, compared to HKD 1,262,053 in 2018, reflecting a commitment to returning value to shareholders[127]. Business Segments and Operations - The company operates five distinct business segments: pipeline gas, beer, water and environment, solid waste treatment, and corporate and others[200]. - The pipeline gas segment distributes and sells natural gas and related equipment in mainland China[200]. - The beer segment focuses on the production, distribution, and sale of beer products in mainland China[200]. - The water and environment segment constructs wastewater and drinking water treatment plants and provides consulting services in mainland China and several overseas countries[200]. - The solid waste treatment segment operates waste incineration plants in Germany and mainland China, generating electricity, steam, and thermal energy from waste[200]. - Performance evaluation of each segment is based on annual profit, consistent with the group's overall profit measurement[200]. Capital Expenditures and Investments - Beijing Gas's capital expenditure for the year was approximately HKD 27.3 billion[18]. - The total capital expenditure for solid waste-related businesses (domestic and overseas) was approximately HKD 2.37 billion in 2019[26]. - The company incurred capital expenditures of HKD 4,256,794 in 2019, a decrease from HKD 7,150,966 in 2018, indicating a reduction in investment in property, plant, and equipment[126]. Market and Strategic Focus - The company is focusing on enhancing the stability of natural gas supply in Beijing and expanding its market presence outside the capital[12]. - In the beer business, the company is innovating and expanding high-end product offerings to adapt to competitive market conditions[12]. - The beer business aims to capture market trends and enhance profitability through product structure upgrades and marketing channel expansion[31]. - The water and environment business will focus on high-quality investment projects and the standardization and intelligence of water plants[32]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified in the industry[42]. - The company is investing in new technology development, with a budget allocation of $50 million for R&D in the upcoming year[41]. Financial Position and Assets - The total assets increased to HKD 185,806,276, up from HKD 174,496,280, representing a growth of approximately 7.5% year-over-year[120]. - Total equity rose to HKD 87,014,827, compared to HKD 81,015,372, reflecting an increase of about 7.4%[118]. - Total liabilities increased to HKD 98,791,449, up from HKD 93,480,908, indicating a rise of approximately 5.4%[120]. - Non-current assets totaled HKD 148,177,088, an increase from HKD 141,700,672, marking a growth of about 4.4%[120]. - Current assets reached HKD 37,629,188, compared to HKD 32,795,608, showing an increase of approximately 14.3%[120]. - Cash and cash equivalents increased significantly to HKD 22,158,921 from HKD 17,935,496, representing a growth of about 23.5%[120]. Risk Management and Compliance - The company identified significant risks related to fraud and errors during the audit process, emphasizing the importance of internal controls[112]. - The board is responsible for maintaining effective risk management and internal control systems, with annual evaluations to ensure adequacy and effectiveness[95]. - The company has established a three-line defense risk management framework, with the first line being the business units responsible for risk management[96]. - The company emphasizes a culture of integrity and requires adherence to a code of conduct regarding conflicts of interest and confidentiality[81]. - The company maintained compliance with relevant laws and regulations impacting its operations throughout the year[51]. Sustainability and Community Engagement - The board of directors highlighted the importance of sustainable practices in future strategies, aiming for a 30% reduction in carbon emissions by 2025[42]. - The company actively participated in the Beijing government's clean air action plan by advancing LNG storage projects to enhance the stability of natural gas supply[51]. - The company is committed to green operations and waste management as part of its environmental governance efforts[55]. - The group engaged in community development activities and environmental initiatives to build harmonious relationships with local communities[55]. Audit and Governance - The audit committee consists of independent non-executive directors with extensive business experience, ensuring effective oversight of financial reporting and risk management[89]. - The board believes that the risk management and internal control systems are effective and sufficient during the reporting period[97]. - The company has adopted a written terms of reference for the audit committee, which is published on its website, outlining its powers and responsibilities[89]. - The company has signed three-year appointment letters with all independent non-executive directors, ensuring their commitment to the board[88]. - The company secretary has participated in no less than 15 hours of relevant professional training as required by listing rules[99]. Financial Reporting and Standards - The financial statements are prepared based on the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[137]. - The company’s subsidiaries are consolidated into the financial statements from the date control is obtained until the date control is lost, reflecting a comprehensive view of the group’s performance[138]. - The company adopted HKFRS 16 on January 1, 2019, which replaced HKAS 17 and changed the accounting treatment for leases[144]. - The company assesses impairment losses when the carrying amount of an asset exceeds its recoverable amount, with impairment losses deducted from the income statement in the relevant expense category[169].
北京控股(00392) - 2019 - 中期财报
2019-09-26 08:41
Financial Performance - The consolidated revenue for the first half of 2019 was HKD 34.23 billion, remaining stable compared to the same period last year[11]. - The profit attributable to shareholders increased by 11.2% to HKD 4.75 billion[11]. - The overall revenue for the group was approximately HKD 34.23 billion, with gas sales contributing HKD 24.25 billion, beer sales contributing HKD 6.53 billion, and solid waste treatment and environmental services contributing HKD 3.45 billion[30]. - The profit attributable to China Gas Holdings was HKD 964 million, a 46% increase year-on-year, with a gas sales volume of 24.66 billion cubic meters, up 32.1%[22]. - The company's profit for the period was HKD 5,151,448, an increase from HKD 4,728,341 in the previous period, representing an increase of approximately 8.9%[44]. - The net profit for the six months ended June 30, 2019, was HKD 4,745,330,000, compared to HKD 4,267,378,000 for the same period in 2018, representing a growth of approximately 11.2%[50]. - The total comprehensive income for the period amounted to HKD 3,657,990, down from HKD 4,564,923 in the previous period, indicating a decrease of about 19.8%[44]. - The company's earnings per share for the first half of 2019 was HKD 3.76, compared to HKD 3.38 in the same period last year[41]. Business Segments - The pipeline gas business generated a profit of HKD 3.84 billion, accounting for 68.3% of the total profit[12]. - Beijing Gas recorded a revenue of HKD 24.25 billion, with a profit of HKD 3.01 billion, up 5.6% year-on-year[16]. - The gas transmission business recorded a gas transmission volume of 26.46 billion cubic meters, an increase of 7.5% year-on-year[20]. - The VCNG project completed oil sales of 3.787 million tons, with attributable profit of HKD 550 million[21]. - Beijing Yanjing Beer achieved beer sales of 2.58 million kiloliters, with the Yanjing main brand contributing 1.76 million kiloliters and the "1+3" brand contributing 2.38 million kiloliters[23]. - Beijing Yanjing Beer reported a revenue of HKD 6.53 billion and a pre-tax profit of HKD 753 million for the reporting period[23]. - Beijing Enterprises Water Group's revenue increased by 28.2% to HKD 12.83 billion, with a net profit attributable to shareholders rising by 17.1% to HKD 2.77 billion[24]. - The solid waste treatment segment achieved a processing scale of 26,932 tons per day, with EEW GmbH's revenue growing by 3.7% to HKD 2.61 billion[155]. User Growth and Sales Volume - The gas sales volume was approximately 8.562 billion cubic meters, a decrease of 3.7% year-on-year due to warm winter conditions[16]. - The company added approximately 59,000 residential users and 3,208 public service users during the period, totaling around 6.31 million pipeline gas users[18]. Dividends and Shareholder Returns - The company declared an interim cash dividend of HKD 0.40 per share, up from HKD 0.32 per share in 2018[13]. - The interim cash dividend declared was HKD 0.40 per share, totaling HKD 504,821,000, compared to HKD 0.32 per share totaling HKD 403,857,000 in the previous year[85]. Financial Position and Assets - Total assets increased to HKD 180,518,878 from HKD 174,496,280, reflecting a growth of approximately 3.9%[45]. - Non-current assets increased by HKD 1.32 billion, mainly due to the increase in natural gas-related construction projects by Beijing Gas[36]. - Cash and bank deposits as of June 30, 2019, were HKD 18 billion, remaining stable compared to the end of 2018[39]. - The company's total liabilities increased to HKD 96,498,116 from HKD 93,480,908, representing an increase of approximately 3.2%[48]. - The company's equity attributable to shareholders was HKD 72,149,530, up from HKD 69,672,617, showing an increase of approximately 2.1%[48]. Expenses and Financial Management - The group's management expenses for the first half of 2019 were HKD 2.11 billion, a decrease of 11.5% compared to the same period last year[34]. - The group's financial expenses for the first half of 2019 were HKD 1.05 billion, an increase of 14.3% year-on-year, primarily due to an increase in bank loans[34]. - The effective income tax rate decreased to 28.9% from 34.1% in the same period last year, mainly due to the absence of withholding tax expenses on certain dividend income[36]. Cash Flow and Investments - Operating cash flow net amount was 1,504,070 thousand HKD, down from 1,868,774 thousand HKD in the previous period, representing a decrease of approximately 19.5%[52]. - Cash flow from financing activities net amount was (552,723) thousand HKD, compared to (476,919) thousand HKD in the previous period, indicating a decline in financing cash flow[52]. - The company received government grants of 922,774 thousand HKD for property, plant, and equipment, which was not recorded in the previous period[52]. Accounting Standards and Changes - The company adopted HKFRS 16 on January 1, 2019, which requires the recognition of right-of-use assets and lease liabilities for all leases, with certain exemptions for short-term leases[191]. - The transition to HKFRS 16 resulted in a significant increase in lease liabilities and a corresponding increase in right-of-use assets[192]. - The right-of-use assets are depreciated on a straight-line basis over the shorter of the estimated useful life or the lease term[196]. Corporate Governance and Management - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ending June 30, 2019[130]. - The company has complied with the Corporate Governance Code, with some deviations noted regarding the roles of the chairman and CEO[128]. - The company has adopted several corporate governance measures to enhance operational efficiency and market competitiveness[127].
北京控股(00392) - 2018 - 年度财报
2019-04-29 08:40
年 報 2018 北 京 控 股 有 限 公 司 股份代號 : 392 STATULATION AND THE -FIFEEERA 原浆FF 北京校长夺限公司 BEIJING ENTERPRISES HOLDINGS LIMITED BEHL_ar18_cover_Eng_OP.pdf 3 23/4/2019 13:20 目錄 北京控股有限公司 2018年年報 01 目錄 2 公司資料 4 公司架構 5 財務摘要 6 主席報告 8 管理層討論及分析 20 董事及高級管理人員 24 董事會報告 38 企業管治報告 52 獨立核數師報告 58 綜合損益表 59 綜合全面收益表 61 綜合財務狀況表 64 綜合權益變動表 66 綜合現金流量表 70 財務報表附註 204 五年財務概要 206 專用詞䤈 公司資料 公司資料 董事 執行董事 侯子波先生(主席兼行政總裁) 李永成先生(副主席) 趙曉東先生(副主席) 鄂 萌先生(常務副總裁) 姜新浩先生(副總裁) 譚振輝先生(財務總監兼公司秘書) 獨立非執行董事 武捷思先生 林海涵先生 施子清博士 楊孫西博士 馬 社先生 審核委員會 武捷思先生 林海涵先生(委員會主席) ...