Financial Performance - Tianjin Port Development's revenue increased by 3.6% to approximately HKD 13,479,800,000, contributing HKD 153,300,000 in profit, a 119.3% increase year-on-year[8] - The water supply company reported a revenue decrease of 4.8% to approximately HKD 311,300,000, but profit increased by 20.3% to HKD 16,000,000 due to improved operating margins[11] - Tianjin Teda Electric Power's revenue was approximately HKD 2,504,500,000, a 3% decrease, while profit increased by 5.4% to HKD 63,000,000[14] - The pharmaceutical segment's revenue decreased by 3.1% to approximately HKD 1,441,400,000, with a profit of HKD 370,100,000, significantly boosted by a one-time gain from land sales[15][16] - Otis Elevator (China) reported revenue of approximately HKD 20,629,400,000, a 17.6% decrease, with profit remaining stable at HKD 325,300,000[18] - The Courtyard by Marriott hotel saw a revenue increase of 67.8% to approximately HKD 130,400,000, with an average occupancy rate of 83.2%[19] - The electromechanical business reported a revenue of approximately HKD 166,800,000, down from HKD 281,400,000, resulting in a loss of HKD 35,500,000[19] - Revenue for the year ended December 31, 2023, was approximately HKD 3,338,429,000, a decrease of 10% from HKD 3,705,129,000 in 2022[22] - Profit attributable to owners of the company was approximately HKD 635,634,000, an increase of 77% compared to HKD 358,162,000 in 2022[22] - Basic earnings per share increased to HKD 0.5925 from HKD 0.3339, representing a growth of 77%[24] - The company reported a total revenue of 3,705,129 million, with a year-on-year increase of 32,634 million[50] - The company's total revenue for the year reached HKD 6,826,722,000, an increase from HKD 6,743,298,000 in the previous year, representing a growth of approximately 1.23%[66] Investments and Acquisitions - Tianjin Lisheng Pharmaceutical Co., Ltd. agreed to sell its 15% stake in Tianjin Pharmaceutical Group Finance Co., Ltd. for RMB 87,823,860[2] - The company acquired a 65% stake in Qingshunkangyuan Group for RMB 136,991,855, focusing on traditional Chinese medicine and e-commerce platforms[4] - The investment in Binhai Investment Co., Ltd. had a market value of approximately HKD 79,300,000 as of December 31, 2023, down from HKD 86,500,000 in the previous year, reflecting an unrealized loss of HKD 7,200,000[80] - The investment in Tianjin Pharmaceutical Group Co., Ltd. was valued at approximately HKD 1,587,100,000, an increase from HKD 1,072,300,000 in the previous year, with a fair value gain of about HKD 514,800,000 recognized in other comprehensive income[81] - The company has a 12.15% equity interest in Tianjin Tasly Holding Group Co., Ltd., which is a passive investment and not intended for sale in the foreseeable future[81] - The company’s investment in Tianjin Tasly Holding Group Co., Ltd. is classified as a non-core passive investment, primarily held by its wholly-owned subsidiary[81] Dividends and Shareholder Returns - The proposed final dividend is HKD 0.0880 per share, leading to a total annual dividend of HKD 0.1225 per share, which is a 37% increase from HKD 0.0895 in 2022[22] - The board proposed a final dividend of HKD 0.088 per share for the year ended December 31, 2023, compared to HKD 0.055 per share in 2022, resulting in a total annual dividend of HKD 0.1225 per share, up from HKD 0.0895 per share in 2022[102] Operational Efficiency and Future Outlook - The company reported a significant increase in net profit margin, reflecting improved operational efficiency[24] - User data showed a growth in active users, contributing to the overall revenue increase despite the decline in total revenue[24] - Future outlook indicates a focus on market expansion and potential acquisitions to drive growth[22] - The company is investing in new product development and technology enhancements to stay competitive in the market[22] - The company plans to continue leveraging its existing resources while exploring new strategic initiatives to enhance shareholder value[22] - The group plans to actively participate in the deepening reform of state-owned enterprises in Tianjin and seize new opportunities while maintaining stable progress in existing businesses[95] - The outlook for 2024 indicates that the global economic recovery will be uneven, with ongoing uncertainties, but the long-term positive trend of the Chinese economy remains unchanged[93] - Future outlook remains positive with strategic investments planned in new technologies and market expansion initiatives[44] Financial Position and Risk Management - The financial position remains strong with total assets of HKD 22,292,679,000, up from HKD 21,266,227,000 in the previous year[30] - The total accounts receivable (net of provisions) amounted to HKD 1,390,103,000, compared to HKD 1,371,974,000 last year, indicating a slight increase of about 1.32%[71] - The company reported a total of HKD 1,718,809,000 in accounts payable, compared to HKD 1,563,986,000 in the previous year, showing an increase of approximately 9.93%[73] - The company’s accounts payable aging analysis shows a total of HKD 1,390,103,000, with significant amounts due within 30 days[71] - As of December 31, 2023, the total cash and bank loans of the group were approximately HKD 6,604,700,000 and HKD 1,810,600,000, respectively, compared to HKD 6,338,500,000 and HKD 1,564,600,000 in 2022[96] - The group’s debt-to-equity ratio as of December 31, 2023, was approximately 14.4%, up from 13% in 2022[96] - The group has pledged restricted bank deposits of HKD 216,900,000 as collateral for general bank credit facilities as of December 31, 2023, compared to HKD 178,900,000 in 2022[100] - The group’s financial risk management aims to mitigate the impact of interest rate and exchange rate fluctuations on its overall financial condition[97] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules, except for the absence of the chairman at the annual general meeting held on June 21, 2023[106] - The audit committee consists of four independent non-executive directors and has reviewed the financial statements for the year ending December 31, 2023[112] - The company plans to adopt new articles of association to align with the latest legal and regulatory requirements, allowing for hybrid meetings[110] - The company will issue a circular detailing proposed amendments to the existing articles of association for shareholder approval at the upcoming annual general meeting[109] - Deloitte has agreed to the figures presented in the preliminary performance announcement for the year ending December 31, 2023[113] - The board will continue to monitor and review the company's corporate governance practices and make appropriate changes as deemed necessary[107] - The company has established strict written guidelines for senior management and specific individuals who may have access to sensitive information regarding the company's securities[108] Share Transactions - The company will suspend the transfer of shares from June 7, 2024, to June 13, 2024, to determine eligibility for the annual general meeting[103] - No shares were purchased, sold, or redeemed by the company or its subsidiaries for the year ending December 31, 2023[105] - The group employed approximately 2,376 staff as of December 31, 2023, a decrease from 2,390 in 2022[98]

Financial Performance - The group's profit for the six months ended June 30, 2023, was approximately HKD 371,509,000, compared to HKD 272,476,000 for the same period in 2022, representing a significant increase[43]. - For the six months ended June 30, 2023, the company's total revenue was approximately HKD 1,179,400,000, representing a decrease of 7.8% compared to the previous year[71]. - The profit attributable to the company's owners for the same period was HKD 81,788,000, a significant increase from HKD 9,955,000 in the prior year[68]. - The company reported a net profit of HKD 478,537,000 for the six months ended June 30, 2023, compared to HKD 426,243,000 in the same period last year[68]. - The total profit for the period was HKD 482,313,000, compared to HKD 371,944,000 in the same period last year[68]. - Net profit attributable to the company's owners was HKD 374,996,000, a significant increase compared to the previous period's profit of HKD 61,152,000[81]. - The company reported a pre-tax profit of HKD 499,395,000, with a tax expense of HKD 20,858,000, resulting in a net profit after tax of HKD 478,537,000[81]. - The company recorded a comprehensive income of HKD 253,123,000 for the period, contrasting with a comprehensive loss of HKD 713,201,000 in the previous period[97]. Revenue Breakdown - Revenue from the water supply company was approximately HKD 153,000,000, remaining stable compared to the previous year, while profit increased from HKD 11,100,000 to approximately HKD 17,300,000, a rise of 55.8%[55]. - Revenue from the thermal power company decreased by 12.1% to approximately HKD 703,300,000, with profit dropping 33% to about HKD 17,500,000 due to reduced government subsidies and lower steam sales[56]. - The hotel segment reported an increase in revenue to approximately HKD 60,400,000, with profit rising from HKD 3,200,000 to HKD 12,200,000, reflecting improved occupancy rates from 68.2% to 80.8%[60]. - The revenue from the pharmaceutical segment was approximately HKD 738,000,000, remaining stable compared to the previous year, while the profit from this segment increased by 35.7% to HKD 79,400,000[72]. - Revenue from public utilities (water and heat supply) amounted to HKD 856,295,000, while pharmaceutical manufacturing and sales generated HKD 833,390,000[155]. Cash Flow and Investments - The net cash inflow from trading investments during the interim period was HKD 150,249,000, compared to a net cash outflow of HKD 92,422,000 for the same period last year[6]. - The net cash used in operating activities was HKD (960,310) thousand, compared to HKD 295,748 thousand in the previous year, indicating a significant decline[128]. - The net cash used in investing activities was HKD (332,296) thousand, down from HKD 562,203 thousand in the previous year, indicating reduced investment outflows[128]. - The company invested HKD 54,068,000 in property, plant, and equipment during the reporting period to expand its business[179]. Assets and Liabilities - The company’s total assets increased to HKD 21,535,021,000 as of June 30, 2023, compared to HKD 21,266,227,000 at the end of the previous year[99]. - Total liabilities amounted to HKD 4,936,181, an increase from HKD 4,836,947 in the previous audited period[1]. - The company’s equity attributable to shareholders increased to HKD 12,015,986 thousand, reflecting a growth in retained earnings[125]. - The company has a total of HKD 799,431,000 in accounts payable as of June 30, 2023, compared to HKD 842,894,000 in the previous year[11]. Strategic Initiatives - The company is focusing on market expansion and strategic investments in utilities and pharmaceuticals, aiming to enhance its competitive position[94]. - Future outlook includes continued investment in new technologies and product development to drive growth across various segments[94]. - The company is exploring potential mergers and acquisitions to further strengthen its market presence and operational capabilities[94]. - The company is taking a cautious approach towards the hydropower equipment business due to a slowdown in the industry and is considering restructuring options[61]. Shareholder Returns - The company declared dividends amounting to HKD (59,002) thousand, compared to HKD (30,117) thousand in the previous year, indicating a higher return to shareholders[126]. - The company declared an interim dividend of HKD 0.0345 per share, totaling approximately HKD 37,011,000[178]. Market Capitalization and Securities - As of June 30, 2023, the market capitalization of listed securities was HKD 116,344,000, while non-listed securities amounted to HKD 1,462,208,000[1]. - The fair value of financial assets measured at fair value on a recurring basis was HKD 1,338,889,000 as of June 30, 2023, up from HKD 1,072,316,000[13]. - The expected return rate on trust deposits in China remained stable between 6.0% and 7.3%[189].

Revenue and Profit - Revenue for the six months ended June 30, 2023, was approximately HKD 1,830,477,000, compared to HKD 1,963,837,000 for the same period in 2022, representing a decrease of about 6.8%[2] - Profit attributable to the company's owners for the six months ended June 30, 2023, was approximately HKD 371,509,000, an increase from HKD 272,476,000 in the same period of 2022, reflecting a growth of approximately 36.3%[2] - The net profit attributable to the company's owners for the six months ended June 30, 2023, was HKD 371,509,000, compared to HKD 272,476,000 for the same period in 2022, representing a year-on-year increase of approximately 36.4%[38] - The net profit for the period was HKD 482,313,000, up 29.7% from HKD 371,944,000 in the prior year[120] - The company's revenue from supplying water and heat to external customers for the six months ended June 30, 2023, was HKD 153,044,000 and HKD 703,251,000 respectively[139] Earnings Per Share and Dividends - Basic earnings per share for the six months ended June 30, 2023, was 34.63 HK cents, up from 25.40 HK cents for the same period in 2022, indicating an increase of approximately 36.2%[2] - The interim dividend declared was 3.45 HK cents per share, consistent with the interim dividend for the same period in 2022, totaling approximately HKD 37,011,000[23] - Earnings per share (basic and diluted) increased to HKD 34.63, compared to HKD 25.40 for the same period last year, reflecting a growth of 36.5%[119] Financial Position - The total assets less current liabilities as of June 30, 2023, were HKD 18,513,119,000, an increase from HKD 18,163,168,000 as of June 30, 2022, reflecting a growth of approximately 1.9%[6] - The total equity as of June 30, 2023, was HKD 16,598,840,000, an increase from HKD 16,429,280,000 at the end of 2022[114] - As of June 30, 2023, total assets amounted to HKD 21,535,021, an increase from HKD 21,266,227 as of December 31, 2022, representing a growth of approximately 1.27%[121] - The total liabilities increased to HKD 4,936,181 from HKD 4,836,947, reflecting a rise of approximately 2.07%[126] Cash Flow and Financial Expenses - The company's cash and cash equivalents decreased to HKD 2,466,965 from HKD 3,661,450, a decline of about 32.6%[121] - The company's financial expenses rose to HKD 44,543,000, compared to HKD 25,675,000 in the previous year, indicating an increase of 73.4%[119] - The total cash and bank loans as of June 30, 2023, were approximately HKD 5,445.2 million and HKD 1,808.2 million, respectively[83] Government Subsidies and Income - Government subsidy income for the six months ended June 30, 2023, was HKD 225,469,000, down from HKD 275,654,000 in the same period of 2022, a decrease of approximately 18.2%[16] - The profit of the thermal power company fell by 33% to approximately HKD 17,500,000 from HKD 26,100,000 in the same period last year, primarily due to a reduction in government subsidies by HKD 50,200,000 and a decline in steam sales volume[53] Accounts Receivable and Impairment - The accounts receivable aging analysis shows that as of June 30, 2023, overdue receivables over 180 days amounted to HKD 173,762,000, indicating a need for improved collection strategies[49] - The company reported a net loss from impairment of receivables of HKD 9,751,000 for the six months ended June 30, 2023, compared to a net loss of HKD 118,162,000 for the same period in 2022, indicating an improvement[19] Segment Performance - The revenue of the thermal power company decreased by 12.1% to approximately HKD 703,300,000 compared to HKD 800,300,000 in the same period last year[53] - The revenue of the pharmaceutical research institute decreased by 19.4% to approximately HKD 271,100,000, resulting in a loss of approximately HKD 33,500,000[55] - The pharmaceutical segment's profit, excluding the performance of the research institute, increased by HKD 22,000,000 to approximately HKD 112,900,000 compared to HKD 90,900,000 in the same period last year[55] - The revenue of Tianjin Power decreased by 7.8% to approximately HKD 1,179,400,000, contributing a profit of approximately HKD 29,400,000, a decrease of HKD 18,500,000 from the previous year[74] - The revenue for Otis Elevator (China) was approximately HKD 8,913.2 million, a decrease of 22.3% compared to the same period last year[98] Investments and Fair Value - The fair value of the investment in Tianjin Tasly Holding Group was approximately HKD 1,338.9 million as of June 30, 2023, compared to HKD 1,072.3 million as of December 31, 2022[100] - The market value of the group's equity in Binhai Investment was HKD 93,103,000 as of June 30, 2023, compared to HKD 86,493,000 as of December 31, 2022[65] Legal and Compliance - The company is currently involved in legal proceedings related to its sales and marketing operations, but management believes that any potential liabilities will not have a significant negative impact on its financial position[105] - The company’s independent auditor reviewed the interim financial statements in accordance with the relevant standards, ensuring compliance with financial reporting requirements[111] Accounting Policies - The company has applied new and revised Hong Kong Financial Reporting Standards during the period, which did not have a significant impact on the financial position and performance[10] - The company has implemented new accounting policies effective from January 1, 2023, related to insurance contracts and deferred tax assets[130]

Financial Performance - The revenue of the company decreased by 10.8% to approximately HKD 748,600,000, resulting in a loss of about HKD 51,000,000, compared to a loss of HKD 34,400,000 in 2021[1] - The company's total revenue for the year ended December 31, 2022, was HKD 3,705 million, a decrease of 7.0% compared to HKD 3,985 million in 2021[64] - The revenue of Tianjin Port Development decreased by 25% to approximately HKD 13,009,800,000, contributing a profit of about HKD 69,900,000 to the company, a decrease of 63.9% compared to the previous year[13] - The electromechanical business revenue was approximately HKD 281,400,000, a decrease of 23%, with a loss of HKD 13,800,000, improved from a loss of HKD 70,900,000 in 2021[12] - Otis Elevator (China) generated revenue of approximately HKD 25,049,700,000, a decrease of 7%, while contributing a profit of about HKD 325,200,000, an increase of 10% compared to last year[15][16] - The pharmaceutical segment's revenue was approximately HKD 1,486,800,000, a 1.5% increase from HKD 1,464,400,000 in 2021, with a profit of approximately HKD 80,800,000, down from HKD 104,100,000 in the previous year[30][31] - The average occupancy rate of the hotel increased to approximately 64.1%, up by 9 percentage points from the previous year, with revenue rising by HKD 20,500,000 to about HKD 77,700,000[11] - The company reported a net profit attributable to shareholders of HKD 358 million, down from HKD 470 million in 2021[54] Cash and Debt Management - The company's cash and bank loans as of December 31, 2022, were approximately HKD 6,338,500,000 and HKD 1,564,600,000, respectively, compared to HKD 6,962,100,000 and HKD 2,302,300,000 in 2021[4] - The debt-to-equity ratio as of December 31, 2022, was approximately 13%, down from 18% in 2021[5] - The group’s cash and restricted bank deposits amounted to approximately HKD 178,900,000 as of December 31, 2022, compared to HKD 119,000,000 in 2021[32] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.055 per share, maintaining the same as the previous year, resulting in a total annual dividend of HKD 0.0895 per share[21] Segment Performance - The hotel segment reported a significant revenue increase of 36.8%, reaching HKD 78 million compared to HKD 57 million in 2021[64] - The public utilities segment revenue increased by 12.4% to HKD 1,859 million from HKD 1,654 million in the previous year[64] - The medical segment's revenue slightly rose by 1.6% to HKD 1,487 million from HKD 1,464 million[64] - The electromechanical segment experienced a decline of 23.2%, with revenue falling to HKD 281 million from HKD 366 million[64] - The port services segment revenue decreased significantly by 64% to HKD 70 million from HKD 194 million in the previous year[54] Strategic Focus and Future Outlook - The company is focusing on strategic investments and market expansion in public utilities and healthcare sectors[44] - Future outlook includes continued investment in new technologies and potential acquisitions to enhance market position[44] - The company plans to focus on high-quality development and actively explore sustainable business expansion opportunities[92] - The company aims to restructure its existing businesses and optimize asset structure as a key development strategy moving forward[92] Governance and Management - The company has appointed a new non-executive director, enhancing its governance structure[113] - The company has a diverse board with members holding various qualifications and extensive experience in finance and management[116][117] - The company is focused on enhancing corporate governance through the expertise of its independent directors[147][149] - The recent changes in the board are expected to strengthen the company's leadership and strategic direction moving forward[138][150] Environmental, Social, and Governance (ESG) Initiatives - The company has established an environmental management system in accordance with ISO 14000 standards to better control and reduce environmental impact[101] - The company is actively involved in environmental, social, and governance (ESG) reporting to improve transparency[104] - The company has established a governance framework for environmental, social, and governance policies to enhance sustainability performance[158] - The company has set up various communication channels to understand stakeholders' views on environmental, social, and governance issues[160] - The board is responsible for overseeing the company's environmental, social, and governance (ESG) activities and policies, with annual reviews of progress[183] Compliance and Risk Management - The company has a robust compliance framework in place to ensure adherence to labor laws and regulations[105] - The company is committed to complying with local environmental laws and regulations, including the Environmental Protection Law of the People's Republic of China[190] - The company continues to monitor ESG-related risks and has appropriate internal controls in place to manage these risks[184]

Financial Performance - The company's annual profit attributable to shareholders for the year ended December 31, 2022, was HKD 358,162,000, a decrease of 24.5% from HKD 470,379,000 in 2021[5] - The total comprehensive income for the year was HKD (1,320,288,000), compared to HKD 987,186,000 in the previous year, indicating a significant decline[7] - Revenue from continuing operations was approximately HKD 3,705,129,000, an increase from HKD 3,540,957,000 in the previous year, representing a growth of 4.65%[20] - Profit attributable to the company's owners was approximately HKD 358,162,000, down from HKD 470,379,000 in the previous year, reflecting a decrease of 23.83%[20] - Basic earnings per share were HKD 0.3339, compared to HKD 0.4385 in the previous year, indicating a decline of 23.83%[20] - Gross profit for the year was HKD 1,010,477,000, slightly down from HKD 1,015,358,000 in the previous year, a decrease of 0.85%[22] - The pre-tax profit was HKD 554,043,000, down from HKD 680,996,000 in the previous year, representing a decline of 18.63%[22] - The annual profit for the year ended December 31, 2022, was HKD 504,154,000, a decrease from HKD 592,967,000 in 2021, representing a decline of approximately 14.9%[59] Assets and Liabilities - Non-current assets decreased from HKD 12,705,711,000 in 2021 to HKD 11,210,411,000 in 2022, reflecting a reduction of approximately 11.7%[8] - Current assets also saw a decline, dropping from HKD 10,752,276,000 in 2021 to HKD 10,055,816,000 in 2022, a decrease of about 6.5%[8] - The company's total assets decreased from HKD 23,457,987,000 in 2021 to HKD 21,266,227,000 in 2022, representing a decline of approximately 9.3%[8] - The total equity decreased to HKD 16,429,280,000 from HKD 17,875,658,000 in the previous year, a reduction of 8.06%[26] - Total liabilities decreased to HKD 4,836,947,000 from HKD 5,582,329,000 in the previous year, a decrease of 13.36%[26] Cash Flow and Investments - The company's cash and cash equivalents decreased from HKD 3,998,814,000 in 2021 to HKD 3,661,450,000 in 2022, a reduction of about 8.4%[8] - The net cash from operating activities was HKD 504,154,000, down from HKD 639,279,000 in the previous year, reflecting a decrease of 21.06%[22] - The company reported a net cash inflow of HKD 184,344,000 from the sale of a subsidiary, with a total consideration of HKD 614,482,000[173] Dividends - The proposed final dividend is HKD 0.055 per share, maintaining the same as the previous year, with a total annual dividend of HKD 0.0895 per share[20] - The company proposed a final dividend of HKD 0.055 per ordinary share for the year ended December 31, 2022, consistent with the previous year, amounting to approximately HKD 59,002,000[72] - The group issued and paid an interim dividend of HKD 0.0345 per share for 2022, consistent with the previous year[97] Government Subsidies - Government subsidies amounted to HKD 632,061,000 in 2022, compared to HKD 341,313,000 in 2021, indicating an increase of approximately 85.4%[59] Segment Performance - Total revenue from external customers reached HKD 3,705,129,000, with contributions from various segments including public utilities (HKD 1,859,231,000) and pharmaceuticals (HKD 1,486,791,000) [33] - Revenue from water supply and thermal energy was HKD 326,962,000 and HKD 1,532,269,000 respectively, showing a year-on-year increase in both categories [35] - The pharmaceutical segment's revenue fell by 10.8% to approximately HKD 748.6 million, resulting in a loss of HKD 51 million compared to a loss of HKD 34.4 million in the previous year[89] - The electricity segment reported revenue of approximately HKD 2,581,200,000, a 3.7% increase, with profit contribution rising by 40.4% to HKD 59,800,000[112] - The hotel segment's revenue increased by HKD 20,500,000 to approximately HKD 77,700,000, with a profit turnaround to HKD 2,600,000 from a loss of HKD 8,600,000 in the previous year[115] Foreign Exchange and Financial Management - The company incurred a loss of HKD 65,044,000 from foreign exchange in 2022, contrasting with a gain of HKD 22,516,000 in 2021[63] - The financial expenses related to equity-accounted joint ventures amounted to HKD (23,633,000), reflecting the company's investment strategy [33] - The company’s tax expenses included current tax of HKD 61,681,000 and deferred tax of HKD 9,197,000, indicating effective tax management [40] Corporate Governance - The company has complied with the corporate governance code as per the listing rules, except for the absence of the chairman at the annual general meeting due to other commitments[153] - The audit committee, consisting of five independent non-executive directors, regularly reviews the group's accounting principles and practices, as well as risk management and internal control systems[152] - The company has adopted the standard code for securities trading by directors, confirming compliance by all directors throughout the year[151] Future Outlook - Future outlook includes continued focus on expanding public utility services and enhancing operational efficiency across all segments [29] - The company aims to strengthen its business foundation and financial strength while accelerating high-quality transformation despite a competitive operating environment[120]

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 1,963,837,000, an increase of 10.5% compared to HKD 1,776,676,000 in the same period of 2021[15] - Gross profit for the same period was HKD 583,618,000, up from HKD 528,380,000, reflecting a gross margin improvement[15] - Profit before tax increased slightly to HKD 412,139,000 from HKD 409,816,000, indicating stable operational performance[15] - Net profit attributable to shareholders for the period was HKD 272,476,000, compared to HKD 263,904,000 in the previous year, representing a growth of 3.5%[20] - Basic earnings per share for the ongoing operations was HKD 25.40, an increase from HKD 24.60 in the prior year[20] - The company reported a period profit of HKD 371,944,000 for 2022, an increase of 15.8% compared to HKD 321,024,000 in 2021[23] - The total comprehensive income for the period was a loss of HKD 713,201,000, compared to a gain of HKD 359,634,000 in the previous year[23] - The fair value change of equity instruments through other comprehensive income resulted in a loss of HKD 400,033,000, significantly higher than the loss of HKD 62,711,000 in 2021[23] Operating Expenses and Income - The company reported a significant increase in other income to HKD 198,866,000 from HKD 141,859,000, marking a growth of 40%[15] - Total operating expenses decreased to HKD 520,973,000 from HKD 566,028,000, showing a reduction of approximately 8%[15] - The company reported a significant reduction in financial expenses, which were recorded at HKD 7,797,000, down from previous levels, contributing to improved net profitability[68] Assets and Liabilities - The company's total assets decreased to HKD 22,694,823,000 from HKD 23,457,987,000, reflecting a decline of approximately 3.2%[26] - Current assets amounted to HKD 10,676,665,000, slightly down from HKD 10,752,276,000 in the previous year[26] - Total liabilities increased to HKD 5,628,579,000 from HKD 5,582,329,000, indicating a rise of approximately 0.8%[29] - The equity attributable to the company's owners decreased to HKD 12,455,784,000 from HKD 12,898,693,000, a decline of about 3.4%[29] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 295,748, compared to a net cash used of HKD (104,717) in the same period of 2021[34] - The net cash generated from investing activities was HKD 562,203, an improvement from a net cash used of HKD (698,433) in the prior year[34] - The total cash and cash equivalents increased to HKD 4,594,562 as of June 30, 2022, up from HKD 3,427,477 a year earlier[34] - The company reported a significant increase in cash and cash equivalents, with a net increase of HKD 759,510 compared to a decrease of HKD (899,772) in the previous year[34] Segment Performance - Revenue from public utilities reached HKD 954,703, while revenue from pharmaceuticals was HKD 819,441 for the six months ended June 30, 2022[53] - The hotel segment generated revenue of HKD 40,337, and the electromechanical segment contributed HKD 149,356 during the same period[53] - The pharmaceutical segment reported revenue of approximately HKD 819,400,000, an increase of 5.2% compared to HKD 779,000,000 in the same period last year[169] - The revenue from pharmaceutical product sales was approximately HKD 737,000,000, up 5.5% from HKD 698,400,000 year-on-year[169] Future Strategies - Future strategies include potential market expansion and investment in new technologies to enhance operational efficiency and service delivery[8] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and service delivery[60] Shareholder Information - The major shareholder, Tianjin TEDA Investment Holding Co., Ltd., held 62.81% of the issued shares as of June 30, 2022[195] - The interim dividend declared for the six months ended June 30, 2022, is HKD 3.45 per share, totaling approximately HKD 37,011,000, consistent with the previous year's interim dividend[104] Compliance and Governance - The company complied with the corporate governance code as per the Stock Exchange Listing Rules, except for the absence of the chairman at the annual general meeting[198] Employee Information - The group employed approximately 2,531 employees, including 213 management personnel and 781 technical staff during the review period[188]

Financial Performance - The consolidated profit attributable to shareholders for the year ended December 31, 2021, was approximately HKD 470.4 million, an increase of 59.7% from HKD 294.5 million in the previous year[27]. - The total revenue for the year 2021 was HKD 3,985 million, representing a 6.4% increase compared to HKD 3,746 million in 2020[24]. - The public utility segment generated revenue of HKD 1,654 million, a 30.8% increase from HKD 1,265 million in 2020[24]. - The pharmaceutical segment reported revenue of HKD 1,464 million, up 3.9% from HKD 1,409 million in the previous year[24]. - The hotel segment saw a significant revenue increase of 62.9%, reaching HKD 57 million compared to HKD 35 million in 2020[24]. - The electromechanical segment's revenue increased by 45.8% to HKD 366 million from HKD 251 million in 2020[24]. - The company declared a final dividend of HKD 0.055 per share, with total dividends for the year amounting to HKD 0.0895 per share, a 15% increase from the previous year[27]. Business Strategy and Development - The company plans to focus on restructuring existing businesses and optimizing asset structures as key development strategies moving forward[28]. - The company achieved stable growth in its public utility business, leveraging opportunities in Tianjin and the Binhai New Area[28]. - The company plans to accelerate business integration and actively participate in the high-quality development of Tianjin and Binhai New Area[33]. - The company is focused on expanding its market presence and exploring new investment opportunities through strategic partnerships and acquisitions[75]. - The management team emphasizes the importance of innovation and technology development to drive future growth and enhance competitive advantage[78]. - The company aims to improve operational efficiency and financial performance through rigorous financial management and strategic planning[79]. Operational Highlights - The average occupancy rate for the Hong Kong Marriott hotel business was approximately 54.7% during the year, with room rates slightly adjusted downwards[29]. - The revenue from the water supply company increased by 20.5% to approximately HKD 348,800,000, while profit was approximately HKD 15,000,000, down from HKD 17,600,000 last year[38]. - The thermal energy segment's revenue rose by 33.7% to approximately HKD 1,304,900,000, with a profit of approximately HKD 7,900,000, down from HKD 13,200,000 last year[41]. - The electricity segment reported a revenue of approximately HKD 2,488,100,000, an increase of 16.5%, contributing a profit of approximately HKD 42,600,000, up from HKD 27,700,000 last year[42]. Financial Position and Risk Management - The total cash and bank loans as of December 31, 2021, were approximately HKD 6,962,100,000 and HKD 2,302,300,000, respectively[60]. - As of December 31, 2021, the debt-to-equity ratio was approximately 18%, down from 19% in 2020[61]. - The total outstanding bank loans amounted to HKD 2,302,300,000, with HKD 1,995,500,000 at a floating interest rate of HIBOR + 1.6% and RMB 251,000,000 (approximately HKD 306,800,000) at fixed rates of 4.35% to 5.66%[61]. - The group regularly reviews its liquidity and financing needs to ensure sufficient financial resources are available[61]. - The group is committed to managing financial risks related to interest rates and foreign exchange fluctuations to minimize their impact on overall financial health[61]. Environmental, Social, and Governance (ESG) Initiatives - The governance framework for environmental, social, and governance (ESG) initiatives has been strengthened, with a dedicated team overseeing compliance and risk management[99]. - The company has committed to reducing carbon emissions by 40% by 2030 as part of its sustainability strategy[96]. - The company aims to reduce air and water discharge intensity by 5% per RMB 1,000 revenue by 2025 compared to FY2019[100]. - The company has engaged external consultants for regular independent reviews of risk management and internal control systems[101]. - The company emphasizes the importance of stakeholder engagement for long-term business sustainability and has established various communication channels[101]. Employee and Community Engagement - The employee turnover rate increased to approximately 5.80% in FY2021 from 4.33% in FY2020[172]. - Training hours provided increased to 57,675 in FY2021 from 48,025 in FY2020, with 91.94% of employees receiving training[185]. - The company encourages employee participation in community activities and has organized various social events to support disadvantaged groups[199]. - The company has established a comprehensive training program to support employee development and align with operational needs[185]. Compliance and Ethical Standards - The company has established internal policies and employee codes of conduct to combat corruption and money laundering, ensuring high ethical standards[197]. - No significant non-compliance issues related to corruption and money laundering were found during the reporting period[198]. - The company adheres strictly to pharmaceutical production and quality management regulations, ensuring product quality and marketing ethics[195].

Financial Performance - Revenue for the first half of 2021 reached HKD 2,015,603, an increase of 18.4% compared to HKD 1,701,403 in the same period of 2020[19] - Gross profit for the first half of 2021 was HKD 571,788, representing a gross margin of 28.4%, up from HKD 533,464 in 2020[19] - Net profit for the period was HKD 321,024, a significant increase of 85.5% compared to HKD 172,759 in the first half of 2020[19] - Basic earnings per share increased to HKD 24.60, compared to HKD 10.68 in the same period last year, reflecting strong profitability growth[19] - Other income for the first half of 2021 was HKD 175,485, up from HKD 143,721 in 2020, indicating a growth of 22.0%[19] - Total comprehensive income for the period was HKD 359,634, compared to a loss of HKD 85,575 in the first half of 2020[23] - The net profit attributable to the company's owners for the six months ended June 30, 2021, was HKD 294,070,000, compared to HKD 158,417,000 for the same period in 2020, reflecting a growth of about 85.5%[83] - For the six months ended June 30, 2021, the company reported a profit of HKD 263,904,000, compared to HKD 114,549,000 for the same period in 2020[116] Revenue Breakdown - The group reported total revenue of HKD 2,015,603,000 for the six months ended June 30, 2021, with public utilities contributing HKD 791,479,000, pharmaceuticals HKD 779,047,000, hotels HKD 17,600,000, and electromechanical services HKD 427,477,000[62] - The public utilities segment generated revenue from water supply of HKD 155,235,000 and energy supply of HKD 636,244,000, totaling HKD 791,479,000[62] - The pharmaceuticals segment achieved revenue of HKD 698,421,000 from the production and sale of pharmaceutical products and HKD 80,626,000 from packaging design, manufacturing, and printing services, totaling HKD 779,047,000[62] - The electromechanical segment reported revenue of HKD 238,927,000 from hydraulic machinery and equipment and HKD 188,550,000 from hydropower equipment and large pump sets, totaling HKD 427,477,000[62] - The hotel segment generated revenue of HKD 17,600,000 from hotel operations in Hong Kong[62] - Revenue from water supply and thermal energy for the six months ended June 30, 2021, was HKD 155,235,000 and HKD 636,244,000, respectively, compared to HKD 127,226,000 and HKD 550,010,000 for the same period in 2020, indicating increases of 22.0% and 15.7%[87] Assets and Liabilities - Total assets increased to HKD 24,313,209 thousand, up from HKD 23,879,408 thousand, representing a growth of approximately 1.8%[30] - Current assets rose to HKD 6,976,909 thousand, compared to HKD 6,759,698 thousand, indicating an increase of about 3.2%[30] - Total liabilities amounted to HKD 6,948,510 thousand, up from HKD 6,838,627 thousand, reflecting an increase of approximately 1.6%[30] - Total equity increased to HKD 17,364,699 thousand from HKD 17,040,781 thousand, showing a growth of approximately 1.9%[30] - The company reported a net loss from operating activities of HKD (104,717) thousand, contrasting with a net gain of HKD 395,677 thousand in the prior year[38] Cash Flow and Investments - Net cash used in operating activities was HKD (104,717) thousand, a significant decrease from HKD 395,677 thousand in the previous year[38] - The company’s investment activities resulted in a net cash outflow of HKD (698,433) thousand, compared to a net inflow of HKD 455,960 thousand in the previous year[38] - The company’s financing activities resulted in a net cash outflow of HKD (96,622) thousand, slightly higher than the outflow of HKD (94,383) thousand in the previous year[38] - The group reported a net cash outflow of HKD 42,403,000 from trading investments during the reporting period, compared to a net cash inflow of HKD 268,353,000 in the previous six months[140] Strategic Plans and Market Position - The company plans to continue expanding its utility services and exploring strategic investments in the healthcare and mechanical sectors[9] - The company plans to continue expanding its core services in public utilities and explore new market opportunities in the coming quarters[88] - The company is focused on enhancing operational efficiency and leveraging technology to improve service delivery and customer satisfaction[88] Segment Performance - The pharmaceutical segment's revenue was approximately HKD 779,000,000, a 5.5% increase from HKD 738,000,000 in the previous year[200] - Revenue from pharmaceutical product sales was approximately HKD 698,400,000, up 4.6% from HKD 667,400,000 year-on-year[200] - Revenue from packaging materials increased by 14.2% to approximately HKD 80,600,000 compared to the previous year[200] - The profit of the pharmaceutical segment was approximately HKD 54,400,000, down from HKD 62,900,000 in the previous year[200] - The revenue from the Tianjin Drug Research Institute decreased by 5.2% to approximately HKD 458,600,000, resulting in a loss of HKD 21,200,000 after minority interests, compared to a loss of HKD 12,500,000 in the previous year[200] Government and Regulatory Matters - The group received annual government subsidy income from the Tianjin Economic and Technological Development Zone, with the amount to be agreed upon at the end of the fiscal year[49] - The group has applied revised Hong Kong Financial Reporting Standards for the first time in preparing the interim financial statements, which did not have a significant impact on the financial position and performance[45] Shareholder Information - The company is controlled by Tianjin Lian Group Limited, which held approximately 62.81% of the shares as of June 30, 2021[176] - The company declared an interim dividend of HKD 3.45 per share for the current period, compared to HKD 3.00 per share for the same period last year, totaling approximately HKD 37,011,000[122]

Stock Code : 882 Annual Report 2020 年報 Annual Report 股份代號 : 882 年 報 2020 目錄 | --- | --- | |--------------------------|-------| | | | | 公司資料 | 2 | | 業務架構 | 3 | | 財務摘要 | 5 | | 總經理報告書 | 7 | | 管理層討論及分析 | 9 | | 董事及高級管理人員履歷 | 15 | | 環境、社會及管治報告 | 21 | | 企業管治報告 | 37 | | 董事會報告書 | 50 | | 獨立核數師報告 | 58 | | 綜合損益表 | 63 | | 綜合損益及其他全面收益表 | 64 | | 綜合財務狀況表 | 65 | | 綜合權益變動表 | 67 | | 綜合現金流量表 | 68 | | 綜合財務報表附註 | 69 | | 財務概要 | 180 | 公司資料 | --- | --- | |-----------------------|------------------------------| | | | | 董事會 | 註冊辦事處 | ...

Financial Performance - Revenue for the first half of 2020 was HKD 1,429,639,000, a decrease of 23.1% compared to HKD 1,860,086,000 in the same period of 2019[14] - Gross profit for the first half of 2020 was HKD 516,537,000, down 37.1% from HKD 821,150,000 in the previous year[14] - Profit attributable to owners of the company from continuing operations was HKD 193,053,000, a decline of 35.5% compared to HKD 299,573,000 in 2019[16] - The company reported a profit of HKD 172,759,000 for the six months ended June 30, 2020, a decrease of 61.3% compared to HKD 445,592,000 for the same period in 2019[18] - Total comprehensive income for the period was a loss of HKD 85,575,000, contrasting with a gain of HKD 211,341,000 in the prior year[18] - The group reported a pre-tax loss of HKD 100,911,000 for the current period, compared to a pre-tax loss of HKD 97,811,000 in the previous period[90] - The group recorded a net loss of HKD 99,986,000 for the six months ended June 30, 2020, compared to a net loss of HKD 97,046,000 in the same period of 2019[90] Revenue Breakdown - The total revenue for the first half of 2020 was HKD 1,701,403,000, a decrease from HKD 2,804,134,000 in the same period of 2019[54] - Water supply revenue was HKD 127,226,000, and thermal energy revenue was HKD 550,010,000, compared to HKD 166,526,000 and HKD 579,705,000 respectively in the first half of 2019[65] - Pharmaceutical segment revenue reached HKD 738,037,000, which includes HKD 667,432,000 from the manufacturing and sales of pharmaceutical products[51] - Hotel segment generated revenue of HKD 14,366,000, a decline from HKD 62,970,000 in the previous year[55] - The electromechanical segment reported revenue of HKD 271,764,000, which includes HKD 202,803,000 from hydraulic machinery and equipment sales[51] - The revenue from the electricity business for the period was HKD 499,190,000, with a gross profit of HKD 1,680,000[109] Expenses and Costs - The company’s total operating expenses decreased to HKD 486,252,000 from HKD 704,371,000 in the previous year, reflecting a cost reduction strategy[14] - The company’s financial expenses were HKD 31,801,000, slightly down from HKD 32,623,000 in 2019[14] - The company’s tax expense for the first half of 2020 was HKD 23,721,000, compared to HKD 32,949,000 in the same period of 2019[14] - The company incurred research and development expenses of HKD 46,374,000 during the period[117] Cash Flow and Assets - Operating cash flow for the six months ended June 30, 2020, was HKD 395,677,000, a significant improvement from a cash outflow of HKD 285,040,000 in the same period of 2019[28] - The net increase in cash and cash equivalents was HKD 757,254,000, recovering from a decrease of HKD 1,366,485,000 in the prior year[28] - The company reported cash and cash equivalents of HKD 3,396,692,000, an increase from HKD 3,097,288,000 in the previous period, showing a growth of 9.7%[21] - The company's total assets as of June 30, 2020, were HKD 22,334,201,000, a slight decrease from HKD 22,556,153,000 at the end of 2019[21] - Current assets net amount increased to HKD 6,868,590,000 from HKD 6,103,557,000, reflecting a growth of 12.5%[24] Strategic Focus and Future Plans - The company plans to continue focusing on strategic investments and market expansion despite the current challenges[14] - The company is focusing on expanding its pharmaceutical research and development services through its investment in Tianjin Institute of Pharmaceutical Research[43] - The company plans to enhance its market presence in the electromechanical sector by leveraging its manufacturing capabilities[45] - The company aims to maintain a prudent and proactive strategy, focusing on internal restructuring and actively participating in the high-quality development reforms in Tianjin[198] Impact of COVID-19 - The ongoing impact of the COVID-19 pandemic has introduced additional uncertainties affecting the company's operational environment and financial performance[39] - The company has taken necessary actions to mitigate the impact of COVID-19 on its business and will continue to monitor the situation closely[39] - The company experienced a significant impact on its operations due to the COVID-19 pandemic, affecting various segments including pharmaceuticals and hotels[183][184] Dividends and Shareholder Returns - The company declared dividends of HKD 51,278,000 during the period, consistent with the previous year[26] - The company declared an interim dividend of HKD 3.00 per share for the six months ended June 30, 2020, down from HKD 3.26 per share for the same period in 2019, totaling approximately HKD 32,183,000[127] Related Party Transactions - Related party transactions included land lease expenses of HKD 17,342 million and raw material purchases of HKD 513,477 million for the six months ended June 30, 2020[171] - Total remuneration for key management personnel was HKD 2,341 million for the six months ended June 30, 2020, down from HKD 3,643 million in the same period of 2019[172]