Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was HKD 784.65 million, a decrease of HKD 49.33 million or 5.9% compared to 2023[17]. - The group's profit before tax for 2024 was HKD 233.27 million, down HKD 45.76 million or 16.4% from 2023[18]. - Shareholders' profit for 2024 was HKD 205.22 million, a decline of HKD 32.43 million or 13.6% compared to 2023, with basic and diluted earnings per share at HKD 0.2210[19]. - The EBITDA margin for 2024 was 76.8%, down from 80.2% in 2023 and 81.0% in 2022[12]. - In 2024, the company's revenue was HKD 784,650,000, a decrease of HKD 49,325,000 or 5.9% compared to 2023's revenue of HKD 833,975,000[39]. - The company's net profit attributable to shareholders for 2024 was HKD 205,221,000, down from HKD 237,654,000 in 2023[39]. - Gross profit declined by 20.1% to HKD 284,129,000 from HKD 355,565,000 year-over-year[52]. - The pre-tax profit decreased by 16.4% to HKD 233,265,000, down from HKD 279,021,000 in the previous year[52]. - The EBITDA for the year was HKD 602,477,000, representing a 9.9% decrease from HKD 668,880,000 in 2023[52]. - Other net income increased by 26.4% to HKD 111,811,000, primarily due to increased interest income from bank deposits[58]. Dividends - The company declared an interim cash dividend of HKD 0.045 per share and proposed a final cash dividend of HKD 0.065 per share for the fiscal year 2024[20]. - The board of directors will propose the final dividend at the annual general meeting scheduled for May 23, 2025[20]. - The company has adopted a dividend policy based on financial condition, business outlook, future income, cash flow, and other specified factors[136]. Satellite Operations - The satellite fleet includes APT 5C, APT 6C, APT 7, APT 9, APT 6D, and APT 6E, providing coverage to over 75% of the global population[22]. - APT 5C satellite, in partnership with Telesat Canada, is equipped with 63 transponders and provides enhanced broadband services in Southeast Asia[23]. - APT 6D satellite is the first high-throughput satellite optimized for mobile services, offering quality broadband satellite services across China and the Asia-Pacific region[27]. - The company continues to maintain a strong operational status of its satellite systems, ensuring reliable service for its customers[21]. - The company plans to expand its traditional satellite resource leasing business while leveraging high-throughput satellites to provide quality broadband services[34]. Financial Position - The company maintained a strong cash position with approximately HKD 2,448,394,000 in cash and bank deposits as of December 31, 2024[40]. - The total cash and bank balance increased by 14.0% to HKD 2,448,394,000 from HKD 2,148,555,000[54]. - The total liabilities decreased by 12.7% to HKD 877,443,000 from HKD 1,004,523,000[54]. - The company maintains a healthy financial position with sufficient internal funds and cash inflows from transponder leasing services to meet any financial obligations[48]. - The company has secured financing agreements totaling up to 85,600,000 USD (approximately 667,680,000 HKD) with Bank of China (Hong Kong) for its subsidiary, with no outstanding principal balance as of December 31, 2024[68]. Corporate Governance - The company continues to uphold high standards of corporate governance and internal controls to ensure compliance and ethical conduct[35]. - The board has established audit and risk management committees to ensure high standards of corporate governance[86]. - The company has complied with the corporate governance code throughout the year, with minor exceptions noted[87]. - The board consists of two executive directors, six non-executive directors, and four independent non-executive directors[89]. - The company emphasizes continuous review and adjustment of its business strategies to adapt to changing market conditions[84]. Risk Management - The company has established a risk management system aimed at managing risks to achieve business objectives[120]. - The board is responsible for ensuring robust internal controls and risk management to protect shareholder investments[120]. - The Audit and Risk Management Committee is tasked with monitoring the independence and objectivity of the external auditor[119]. - The internal control and risk management committee conducted an annual review of the effectiveness of the internal control system and risk management for the year ending December 31, 2024[125]. - The company has established a whistleblower protection policy to handle complaints regarding suspected fraud and unethical behavior, ensuring confidentiality of whistleblower identities[129]. Environmental, Social, and Governance (ESG) - The company has established a comprehensive ESG strategy, focusing on environmental protection, social responsibility, and corporate governance[139]. - The company has identified 37 key ESG issues through stakeholder consultation, prioritizing them based on their significance to both the business and stakeholders[155]. - The report covers the company's performance in environmental and social responsibilities from January 1, 2024, to December 31, 2024[150]. - The company has made progress in waste management and radiation emissions control at its satellite ground stations[140]. - The company aims to reduce greenhouse gas emissions from operations, with a focus on minimizing indirect emissions from purchased electricity and business travel[196]. Employee and Workplace - The company employed a total of 122 employees as of December 31, 2024, an increase from 108 in 2023, representing a growth of 12.96%[165]. - The employee turnover rate decreased to 10.0% in 2024 from 19.0% in 2023, indicating improved employee retention[166]. - The company provides competitive compensation packages, including medical insurance and performance bonuses, to retain top talent[161]. - The company emphasizes a diverse and inclusive workforce, hiring without discrimination based on gender, race, nationality, or religion[161]. - The company conducted regular fire drills and safety training to enhance workplace safety awareness among employees[169]. Training and Development - In 2024, 101 employees received training, representing 82.8% of the total workforce, compared to 93.5% in 2023[174]. - The average training hours per employee decreased from 14.6 hours in 2023 to 12.8 hours in 2024[176]. - The company emphasizes continuous professional development for directors, with training participation reported for various governance and anti-corruption programs[102]. - The management level employees received an average of 11.8 training hours in 2024, compared to 11.3 hours in 2023[176]. Community Engagement - The company actively participates in community activities and invests in social responsibility initiatives without utilizing financial resources this year[189]. - Stakeholder engagement is maintained through various communication channels, including press releases and annual reports[153].

Financial Performance - The group's revenue for the fiscal year 2024 was HKD 784,650,000, a decrease of HKD 49,325,000 or 5.9% compared to HKD 833,975,000 in 2023[5] - The group's profit before tax for 2024 was HKD 233,265,000, down HKD 45,756,000 or 16.4% from HKD 279,021,000 in 2023[6] - The profit attributable to shareholders for 2024 was HKD 205,221,000, a decline of HKD 32,433,000 or 13.6% compared to HKD 237,654,000 in 2023, with basic and diluted earnings per share at HKD 0.2210[7] - Gross profit fell by 20.1% to HKD 284,129,000 from HKD 355,565,000, with a pre-tax profit decline of 16.4% to HKD 233,265,000[26] - EBITDA decreased to HKD 602,477,000, with an EBITDA margin of 76.8%, down from 80.2%[33] - The operating profit decreased to HKD 294,902,000, a decline of 14.2% compared to HKD 343,800,000 in the previous year[48] - The annual profit attributable to the company was HKD 202,320,000, representing a decrease of 15.0% from HKD 237,654,000 in 2023[48] - Total tax expenses for the year were HKD 30,945,000 in 2024, down from HKD 41,367,000 in 2023, reflecting a reduction of 25.1%[68] Dividends - The company declared an interim cash dividend of HKD 0.045 per share and proposed a final cash dividend of HKD 0.065 per share for the fiscal year 2024, down from HKD 0.145 per share in 2023[9] - The company declared a dividend of HKD 41,786,000 for the year 2024, compared to HKD 46,429,000 for 2023[54] - The interim dividend per ordinary share decreased to HKD 0.045 in 2024 from HKD 0.050 in 2023, a reduction of 10%[72] - The proposed final dividend per ordinary share decreased significantly to HKD 0.065 in 2024 from HKD 0.145 in 2023, a decrease of 55.2%[72] - The company declared a final dividend of HKD 60,357,000 after the reporting period[90] Market Conditions - The satellite transponder market remains in a state of oversupply, with declining rental prices impacting the group's transponder leasing business[20] - The company expects continued pressure on market expansion in the transponder leasing business due to economic challenges and currency shortages in client countries[22] Business Strategy - The company plans to expand its traditional satellite resource leasing business while leveraging high-throughput satellites to provide quality broadband services[22] - The group aims to integrate satellite ground systems, gateway operations, network operations, and transponder resources to offer comprehensive services to clients[22] - The company is actively exploring new satellite project investments and business areas to enhance competitiveness and service capabilities[23] - The group has established or acquired gateway station service capabilities in locations such as Hong Kong, Australia, Indonesia, and Malaysia to support high-throughput satellite operations[18] Assets and Liabilities - Total cash and bank balances increased by 14.0% to HKD 2,448,394,000, with a current asset ratio of 12.27 times, up from 9.80 times[26] - Total liabilities decreased by 12.7% to HKD 877,443,000, resulting in a debt-to-asset ratio of 12.6%, down 1.6 percentage points from the previous year[37] - The company's non-current liabilities decreased to HKD 662,822,000 from HKD 770,961,000 in the previous year[52] - The financial guarantee liability as of December 31, 2024, was HKD 2,355,000, compared to zero in 2023[45] - The company has a maximum financial guarantee liability of RMB 163,440,000 (equivalent to HKD 177,382,000) as of December 31, 2024[45] Income and Revenue Sources - Revenue from satellite transponder capacity for 2024 was HKD 680,358,000, a decrease of 7.8% from HKD 737,997,000 in 2023[60] - Revenue from satellite broadcasting and telecommunications services increased to HKD 4,123,000 in 2024 from HKD 3,979,000 in 2023, reflecting a growth of 3.6%[60] - The revenue from a major customer accounted for HKD 229,111,000 in 2024, slightly up from HKD 225,319,000 in 2023, representing a growth of 0.8%[61] - Non-current assets are primarily located in Hong Kong, with total revenue from Hong Kong customers amounting to HKD 136,785,000 in 2024, up from HKD 133,446,000 in 2023[63] - Interest income from bank deposits increased to HKD 108,786,000 in 2024 from HKD 87,597,000 in 2023, representing a growth of 24.5%[64] Capital Expenditures - Capital expenditures for property, plant, and equipment amounted to HKD 48,733,000, significantly higher than HKD 17,182,000 in 2023[34] - Construction in progress increased significantly to HKD 38,022,000 in 2024 from HKD 14,309,000 in 2023, indicating a growth of 165.5%[78] Corporate Governance - The company maintained strict corporate governance standards, focusing on regulatory compliance and internal controls[92] - The company has complied with the Corporate Governance Code during the fiscal year 2024, with some exceptions noted[95] Employee Information - The group employed a total of 122 staff members as of December 31, 2024, and continues to provide on-the-job training for employees[93]

Financial Performance - For the first half of 2024, the group's revenue was HKD 391,842,000, a decrease of 6.64% compared to HKD 419,728,000 in the same period of 2023[6] - Shareholders' profit attributable to the company was HKD 101,660,000, down 13.72% from HKD 117,829,000 in the previous year[6] - Basic and diluted earnings per share were both HKD 0.1095, compared to HKD 0.1269 in the same period last year[6] - The gross profit for the first half of 2024 was HKD 146,705,000, down 21.89% from HKD 187,812,000 in the previous year[22] - The EBITDA for the first half of 2024 was HKD 303,138,000, representing a decline of 12.08% from HKD 344,769,000 in the same period of 2023[22] - Operating profit decreased to HKD 144,544,000, a decline of 16.0% from HKD 172,117,000 in the previous year[40] - Total comprehensive income for the period was HKD 83,951,000, slightly down from HKD 85,631,000 in the previous year[42] - The company reported a foreign exchange loss of HKD 17,709,000 for the period, compared to a loss of HKD 32,198,000 in the previous year[42] Revenue Breakdown - The decrease in revenue was primarily due to a reduction in satellite transponder capacity income during the period[6] - Revenue from satellite transponder capacity decreased by 8.69% to HKD 343,652,000, while revenue from satellite broadcasting and telecommunications services increased by 7.38% to HKD 2,096,000[25] - Revenue from satellite transponder capacity was HKD 343,652,000, down from HKD 376,370,000, reflecting a decline of 8.7%[54] - Revenue from satellite broadcasting and telecommunications services increased to HKD 2,096,000 from HKD 1,952,000, representing a growth of 7.4%[54] - Revenue from other satellite-related services rose to HKD 46,094,000, up from HKD 41,406,000, marking an increase of 11.5%[54] Dividend and Shareholder Returns - The board declared an interim dividend of HKD 0.045 per share, down from HKD 0.050 per share in the previous year[7] - The interim dividend proposed for ordinary shares is HKD 0.045 per share, down from HKD 0.050 per share in 2023, totaling HKD 41,786,000 compared to HKD 46,429,000 in the previous year[62] - The company paid dividends of HKD 132,685,000, a decrease from HKD 155,562,000 in the previous year[46] Assets and Liabilities - As of June 30, 2024, the total cash and bank balance was HKD 2,134,303,000, a slight decrease of 0.66% from HKD 2,148,555,000 at the end of 2023[22] - The company reported a total asset value of HKD 6,997,048,000, down 1.25% from HKD 7,085,442,000 at the end of 2023[22] - As of June 30, 2024, total liabilities were HKD 966,821,000, a decrease of HKD 37,702,000 from December 31, 2023, leading to a debt-to-asset ratio of 13.8%, down 0.4 percentage points[32] - The company has outstanding capital commitments for the acquisition of properties, plants, and equipment totaling HKD 143,845,000 as of June 30, 2024, down from HKD 169,871,000 as of December 31, 2023[80] Cash Flow and Investments - The group recorded a net cash inflow of HKD 92,932,000 for the six months ended June 30, 2024, compared to a net cash outflow of HKD 229,278,000 for the same period last year[32] - Operating cash flow for the six months ended June 30, 2024, was HKD 139,390,000, a decrease of 34.4% from HKD 212,367,000 in 2023[46] - Cash used in investing activities amounted to HKD 123,640,000, a significant improvement from cash used of HKD 265,013,000 in 2023[46] - The company reported a net cash inflow from investing activities, contrasting with a net cash outflow in the previous year[46] Market and Operational Insights - The company anticipates continued pressure in the satellite transponder rental market due to oversupply and increased competition from low Earth orbit satellite operators like Starlink[16] - The company plans to expand its traditional satellite resource leasing business while also exploring high-throughput satellite communication markets and services[18] - The company continues to maintain stable and reliable services through its satellite system, ensuring operational efficiency[8] Employee and Governance - The number of employees increased to 113 as of June 30, 2024, compared to 107 on June 30, 2023, with ongoing training and regular salary reviews[39] - The company has complied with the Corporate Governance Code during the six-month period, except for the provision regarding the rotation of the chairman and CEO[91] - There were changes in the board of directors, with Mr. Lin Chengguang resigning and Mr. Liang Jiafei appointed as a non-executive director[90] Accounting and Financial Reporting - The company has not made significant changes to its accounting policies compared to the previous year[48] - The company has adopted new accounting standards effective from 2024, but these are not expected to impact the financial statements significantly[49] - The audit and risk management committee reviewed the group's accounting principles and practices as of June 30, 2024[94] - No significant matters were noted that would lead to the belief that the condensed consolidated interim financial statements were not prepared in accordance with IAS 34 or HKAS 34[97]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 * （於百慕達註冊成立之有限公司） （股份代號：1045） 二零二四年中期業績公佈 主席報告書 亞太衛星控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬公 司（「本集團」）截至二零二四年六月三十日止六個月未經審核中期業績。 本中期業績已經本公司審核及風險管理委員會（「審核及風險管理委員會」）及獨立 核數師審閱。 中期業績 二零二四年上半年，本集團收入為391,842,000港元（截至二零二三年六月三十日 止六個月：419,728,000港元），較上年度同期減少6.64%。收入減少主要原因是由 於期內提供衛星轉發器容量收入減少所致。股東應佔溢利為101,660,000港元（截 至二零二三年六月三十日止六個月：117,829,000港 元），較 上 年 度 同 期 減 少 13.72%。每股基本溢利及每股攤薄溢利皆為10.95港仙（截至二零二三年六月三十 日止六個月：12.69港仙）。 ...

Environmental Management - The company's water usage in 2023 was 800 cubic meters, with a density of 0.96 cubic meters per million HKD of revenue, compared to 716 cubic meters and 0.76 cubic meters per million HKD in 2022[7] - The company's environmental, social, and governance (ESG) report highlights compliance with waste disposal and chemical regulations in Hong Kong[16] - The company's ESG initiatives include managing greenhouse gas emissions, energy usage, and water resources, as well as addressing supply chain environmental and social risks[30] - Total non-hazardous waste generated remained constant at 5.92 tons in both 2022 and 2023, with a density of 0.01 tons per million HKD revenue[82] - The company continued its emission reduction measures, effectively controlling emissions despite increased business volume[83] - The company's water usage remained low due to its operational and business nature, with no significant water-related challenges encountered[115][116] - The company's waste disposal did not pose a significant risk, with non-hazardous waste being collected by contracted cleaning services[113] - The company's environmental goals include reducing water usage and promoting water-saving awareness among employees[116] - The company's greenhouse gas emissions are categorized into Scope 1 (direct emissions from operations), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (other indirect emissions, including employee business travel and waste disposal), calculated based on the Hong Kong Stock Exchange's Environmental Key Performance Indicators Reporting Guidelines[123] - The company's water usage increased by 11.7% in 2023 compared to 2022, with water usage density increasing by 26.3%, primarily due to the resumption of normal office operations post-pandemic[154] - The company is actively reducing the use of natural resources and converting unavoidable waste into resources to support a circular economy, including reducing the number of printed annual reports to minimize paper usage[131] - The company has identified climate-related risks that could disrupt operations and is consulting with independent advisors to mitigate these risks[136] - The company is focusing on improving electricity efficiency as a priority, not only as part of its environmental policy but also to reduce operational costs and increase marginal profit value[143] - The company anticipates increasing compliance costs due to growing emissions reporting obligations and plans to develop mitigation measures to address the impact of climate change on operations and services[144] - The company's satellite operations do not rely heavily on natural resource consumption and do not generate significant waste or hazards to the environment, but it continues to monitor radiation emissions from satellite antennas[138] - The company has implemented energy efficiency measures, including controlling room temperature to 25°C, increasing the use of natural light in office and public areas, and automatically turning off unused lighting, which has significantly reduced power consumption[156] - The company has optimized the tracking strategy of KA 13m antennas, greatly reducing the working time of drive motors and lowering daily power consumption[156] - The company has replaced some high-power amplifiers with low-power ones based on actual business needs, further reducing power consumption[156] - The company has relocated some HPAs from radio frequency rooms to the center of the antenna body, significantly reducing feeder loss[156] - The company has reduced printing and turned off radio frequency equipment, including HPAs and frequency converters, when not in use to save energy[156] - The company's ESG performance indicators include emissions, resource usage, and environmental impact, with specific KPIs for greenhouse gas emissions, waste management, energy consumption, and water usage[191] Employee Management and Training - The company employs 87% of its staff in Hong Kong and strictly complies with local employment laws[31] - The company employed 108 employees in 2023, with 87.0% from Hong Kong, 6.5% from Mainland China, and 6.5% from other regions[47] - Male employees accounted for 68.5% (74 employees) and female employees accounted for 31.5% (34 employees) in 2023[47] - 93.5% of employees (101 employees) received training in 2023, compared to 66.4% (75 employees) in 2022[51] - 90.5% of male employees (67 employees) and 100.0% of female employees (34 employees) received training in 2023[51] - Management-level employees had an 85.7% training participation rate (6 employees), mid-level employees had 100.0% (6 employees), and general employees had 93.7% (89 employees) in 2023[51] - The company provided annual health check-ups for employees to promote health awareness[48] - The company ensured compliance with labor laws, including no use of child labor and adherence to the Hong Kong Occupational Safety and Health Ordinance[53] - Total number of full-time employees decreased from 113 in 2022 to 108 in 2023, maintaining a 100% full-time employment rate[70] - Employee turnover rate increased from 14.2% in 2022 to 19.0% in 2023, with the highest turnover among employees under 30 years old (68.8%)[70] - The company maintained a 0% injury rate and 0 lost workdays in 2023, consistent with previous years[75] - The company strictly adhered to employment laws and regulations in Hong Kong and other jurisdictions, including the Employment Ordinance and Mandatory Provident Fund Schemes Ordinance[76] - The company provided time and funding for employees to attend external training programs related to their work scope in both 2022 and 2023[86] - The company maintained a diverse workforce, with 63.9% of employees aged 30-50 and 21.3% over 50 years old in 2023[70] - The company has a comprehensive training program for employees, with training hours and participation rates categorized by gender and employee type[165] - The company has implemented measures to prevent child labor and forced labor, with steps to address any violations[165] Corporate Governance and Compliance - The company's annual general meeting in 2023 adopted amendments to the articles of association to align with updated listing rules and allow for electronic or hybrid meetings[36] - The company's shareholder communication policy ensures timely and accessible information, with direct engagement opportunities at the annual general meeting[5] - The company's Board of Directors took overall responsibility for ESG strategy and reporting, ensuring environmental protection measures and good social responsibility practices[72] - The company's internal control and risk management systems remained effective throughout 2023, with no significant control failures reported in financial, operational, or regulatory areas[92][93] - The company's internal audit team independently tested and evaluated the effectiveness of selected internal controls, with results reviewed by the Audit and Risk Management Committee[92] - The company's internal control framework is based on the COSO recommendations, covering financial, operational, and regulatory controls, as well as risk management[104] - The company has a robust anti-corruption and bribery policy, including a whistleblowing mechanism for employees to report any suspected misconduct anonymously[142] - The company's board of directors is responsible for reviewing corporate governance policies, training, and compliance with legal and regulatory requirements, as well as the company's adherence to the Corporate Governance Code[120] - The company regularly reports its financial status to the board of directors, ensuring continuous, balanced, and clear assessments for strategic decisions and regulatory compliance[159] - The company has disclosed key ESG performance indicators, including climate change-related issues, employee statistics, health and safety measures, and anti-corruption efforts[165][166] - The company has a robust anti-corruption framework, including training for directors and employees, and a reporting mechanism for corruption cases[166] - The company has implemented a shareholder communication policy to enhance effective communication with shareholders and encourage their active participation in corporate affairs[186] Satellite Operations and Infrastructure - The company operates satellites covering approximately 75% of the global population across Asia, Europe, Africa, and Oceania[14] - The company has invested in building a new earth station to support the government's 5G development plan and minimize the impact on community residents[27] - The company's satellite system provides high-quality services, positioning it as a leading satellite operator in the Asia-Pacific region[19] - The company has identified physical risks from climate change, including extreme weather events such as typhoons and heavy rainfall, which can affect satellite operations. To mitigate these risks, the company has designed ground systems with sufficient redundancy and uses high wind-resistant antennas capable of withstanding wind speeds of up to 320 km/h[190] - The company has established a backup control center outside of Hong Kong to ensure satellite safety and control during extreme and unpredictable climate disasters[190] Financial Performance and Reporting - The company's financial performance for the year ended December 31, 2023, is detailed in the consolidated financial statements on pages 95 to 177[198] - Changes in the company's share capital are detailed in Note 26(b) of the consolidated financial statements[200] - The company's dividend policy is based on financial conditions, business prospects, future income, cash flow, and asset costs, with final dividends requiring approval at the annual general meeting[125] Supply Chain and Product Responsibility - The company collaborated with 714 suppliers in 2023, up from 674 suppliers in 2022[57] - The company prioritized suppliers with green policies and environmental certifications[55] - The company's supply chain management practices include identifying environmental and social risks at each stage of the supply chain and promoting the use of environmentally friendly products and services[193] - The company's product responsibility KPIs include tracking the percentage of products recalled for safety and health reasons, handling customer complaints, and ensuring consumer data protection and privacy[193] Energy and Emissions Management - The company's total energy consumption decreased by 6.0% in 2023, with energy intensity increasing by 6.5% compared to 2022, primarily due to a decline in data center operations[108] - Direct energy consumption in 2023 was 111,791 kWh, while indirect energy consumption was 10,260,443 kWh, resulting in a total energy consumption of 10,372,234 kWh[108] - Total CO2 equivalent emissions in 2023 were 4,103,267 kg, a decrease from 4,319,103 kg in 2022[111] - Direct CO2 emissions in 2023 were 29,312 kg, while indirect emissions from energy were 4,001,573 kg[111]

Revenue Performance - Satellite transponder capacity revenue decreased by 14.3% to HKD 737,997,000 compared to HKD 861,299,000 in the previous year[2] - Total revenue from satellite broadcasting and telecommunications services fell by 9.2% to HKD 3,979,000 from HKD 4,381,000[2] - Revenue for the year ended December 31, 2023, was HKD 833,975,000, a decrease of 11.7% compared to HKD 944,305,000 in 2022[24] - Revenue from satellite broadcasting and telecommunications services decreased to HKD 3,979,000 from HKD 4,381,000, a decline of about 9.2%[110] - Revenue from a major customer accounted for over 10% of total revenue, generating HKD 225,319,000 in 2023, down from HKD 275,800,000 in 2022[111] - Revenue by region for 2023: Hong Kong HKD 133,446,000, Greater China HKD 350,258,000, Southeast Asia HKD 257,579,000, and Other Regions HKD 92,692,000, compared to HKD 93,016,000, HKD 429,698,000, HKD 323,243,000, and HKD 98,348,000 in 2022[113] Profitability - Total net income for the year ended December 31, 2023, was HKD 237,654,000, a slight increase from HKD 231,610,000 in 2022[14] - The company reported a net profit attributable to shareholders of HKD 237,654,000, an increase of 2.6% from HKD 231,610,000 in 2022[24] - Gross profit decreased by 21.9% to HKD 355,565,000 from HKD 455,050,000 in the previous year[24] - EBITDA for 2023 was HKD 668,880,000, down 12.6% from HKD 765,102,000 in 2022, with an EBITDA margin of 80.2%[24] - The company’s operating profit for the year was HKD 343,800,000, slightly down from HKD 354,174,000 in 2022, reflecting stable operational performance despite revenue decline[92] - The total comprehensive income for the year was HKD 218,382,000, compared to HKD 169,500,000 in 2022, indicating a significant improvement[94] Financial Position - The group's total liabilities decreased to HKD 1,004,523,000, down HKD 55,332,000 from the previous year, resulting in a debt-to-asset ratio of 14.2%, a decrease of 0.7 percentage points[10] - Total cash and bank balances increased by 22.8% to HKD 2,148,555,000 from HKD 1,749,738,000 in 2022[24] - Total assets decreased slightly by 0.6% to HKD 7,085,442,000 compared to HKD 7,126,678,000 in the previous year[24] - Total liabilities decreased by 5.2% to HKD 1,004,523,000 from HKD 1,059,855,000 in 2022[24] - The company maintained a strong cash position with a current ratio of 9.80 times, up from 9.72 times in the previous year[24] - The company holds cash and bank balances of HKD 2,148,555,000, with 95.54% in USD, indicating strong liquidity for future investments[59] Capital Expenditures and Investments - Capital expenditures for property, plant, and equipment increased to HKD 17,182,000 from HKD 11,264,000 in the previous year[7] - The company has secured financing of up to USD 85,600,000 (equivalent to HKD 667,680,000) from Bank of China (Hong Kong) for its subsidiary[9] - The company has established or acquired gateway station capabilities in Hong Kong, Australia, Indonesia, and Malaysia to support high-throughput satellite services[67] - The company plans to expand into high-throughput satellite communication markets and enhance satellite video integrated services[22] Taxation and Financial Costs - Tax expenses fell to HKD 41,367,000 from HKD 55,657,000 in 2022[55] - Total tax expense for 2023 was HKD 41,367,000, compared to HKD 55,657,000 in 2022, reflecting a decrease in tax liabilities[118] - The effective tax rate for Hong Kong profits tax remained at 16.5% for both 2023 and 2022[119] - Financial costs decreased to HKD 5,765,000 from HKD 7,013,000 in 2022, primarily due to reduced interest on lease liabilities[52] Other Income and Expenses - The company reported a significant increase in other net income, rising by 895.3% to HKD 88,461,000[50] - Interest income from bank deposits increased significantly to HKD 87,597,000 in 2023 from HKD 26,280,000 in 2022[114] - The company experienced a foreign exchange loss of HKD 2,155,000 in 2023, an improvement from a loss of HKD 26,406,000 in 2022[114] - Other income for 2023 was HKD 1,928,000, down from HKD 5,739,000 in 2022[114] Dividends - The company declared a final dividend of HKD 134,643,000 after the reporting period[33] - The company declared an interim cash dividend of HKD 0.05 per ordinary share for the year, and a proposed final cash dividend of HKD 0.145 per ordinary share for the fiscal year ending December 31, 2023, compared to HKD 0.17 in 2022[86] - The company declared a dividend of HKD 46,429,000 for the current year[100] Market Conditions and Future Outlook - The market for satellite transponders remains competitive with continued oversupply and declining rental prices expected in 2024[21] - The company successfully launched the Asia-Pacific 6E high-throughput satellite in January 2023, which is expected to provide services in 2024[66] - The company achieved positive business growth in the mainland China and Southeast Asia markets despite challenging market conditions[69] Asset Management - The company has a strong asset base with non-current assets totaling HKD 4,796,306,000 as of December 31, 2023, compared to HKD 5,262,248,000 in 2022[96] - Net asset value increased to HKD 6,080,919,000 from HKD 6,066,823,000, reflecting a growth of about 0.2%[98] - Total equity increased to HKD 6,080,919,000 from HKD 6,066,823,000, reflecting a growth of about 0.2%[100] Miscellaneous - The company did not report any significant new product launches or technological advancements during the period[111] - There were no major mergers or acquisitions reported in the financial year ending December 31, 2023[111]

於二零二二年十二月三十一日，中國新華電視控股有限公司於聯交所上市的股份自二零二二 年八月十五日起停牌（「停牌股份」）。根據管理層的評估，於二零二二年十二月三十一日停牌 股份的公允價值按港元零元重新計量。 於二零二三年六月三十日，停牌股份仍然處於停牌狀態。根據管理層的評估，於二零二三年 六月三十日停牌股份的公允價值為港元零元。 本集團之透過損益以反映公允價值計量之金融資產詳情載於本報告附註13。 稅項 截至二零二三年六月三十日止六個月，稅項與上年度同期之34,456,000港元比較下降至 22,022,000港元。減少主要是由於本期香港利得稅及海外稅項撥備減少所致。本集團之稅項 詳情載於本報告附註6。 EBITDA 由於業務收入減少，截至二零二三年六月三十日止六個月之EBITDA減 少16.57%至 344,769,000港元，然而EBITDA利潤率由82.9%下降至82.1%。 中期報告 2023 08 資本開支、資金流動性、財務資源及資產負債比率 於期內，本集團之物業、廠房及設備的資本開支為13,552,000港元（截至二零二二年六月三十 日止六個月：2,859,000港元）。主要資本開支是新增設備及在建工 ...

Financial Performance - For the six months ended June 30, 2023, the group's revenue was HKD 419,728,000, a decrease of 15.79% compared to HKD 498,402,000 for the same period in 2022[20] - The group's net profit attributable to shareholders for the same period was HKD 117,829,000, down 11.94% from HKD 133,808,000 in the previous year[20] - Gross profit declined by 25.31% to HKD 187,812,000 from HKD 251,454,000 year-on-year[41] - EBITDA for the period decreased by 16.57% to HKD 344,769,000, with an EBITDA margin of 82.1%, down from 82.9%[49] - Operating profit for the six months ended June 30, 2023, was HKD 172.117 million, compared to HKD 195.185 million for the same period in 2022[79] - Total comprehensive income for the six months ended June 30, 2023, was HKD 85,631,000, compared to HKD 98,756,000 for the same period in 2022, representing a decrease of approximately 13%[96] - The company reported a pre-tax profit of HKD 32,133,000 for the six months ended June 30, 2023, compared to a loss of HKD 6,341,000 in the same period of 2022[123] Cash and Liquidity - The total cash and bank balances as of June 30, 2023, were HKD 1,809,461,000, reflecting an increase of 3.41% from HKD 1,749,738,000[6] - The group recorded a net cash outflow of HKD 229,278,000, which included a net cash inflow from operating activities of HKD 205,260,000[52] - The net cash and bank balances held by the group amounted to HKD 1,809.461 million, with 93.36% denominated in USD, indicating a strong liquidity position to support future investments[87] - The company’s cash and cash equivalents as of June 30, 2023, totaled HKD 246,256,000, a decrease from HKD 480,535,000 as of December 31, 2022[163] Assets and Liabilities - The total assets decreased by 1.44% to HKD 7,024,313,000 from HKD 7,126,678,000[6] - As of June 30, 2023, the group's total liabilities decreased to HKD 1,029.716 million, a reduction of HKD 30.139 million compared to December 31, 2022, resulting in a debt-to-asset ratio of 14.7%, down by 0.2 percentage points[75] - The total equity of the group as of June 30, 2023, was HKD 5,994.597 million, a slight decrease from HKD 6,066.823 million at the end of 2022[95] Revenue Breakdown - Revenue for the six months ended June 30, 2023, was HKD 65,202,000 from Hong Kong, HKD 181,092,000 from Greater China, HKD 127,805,000 from Southeast Asia, and HKD 45,629,000 from other regions, compared to HKD 45,111,000, HKD 235,747,000, HKD 170,597,000, and HKD 46,947,000 respectively for the same period in 2022[122] - Revenue from satellite transponder capacity for the six months ended June 30, 2023, was HKD 376,370,000, down from HKD 456,962,000 in 2022, indicating a decline of about 17.5%[107] - Revenue from satellite broadcasting and telecommunications services decreased to HKD 1,952,000 in 2023 from HKD 2,219,000 in 2022, a drop of approximately 12%[107] - For the six months ended June 30, 2023, the revenue from satellite transponder capacity and satellite telecommunications services from subsidiaries was HKD 145,854,000, a decrease of 20.7% compared to HKD 183,798,000 in the same period of 2022[180] Dividends - The group declared an interim dividend of HKD 0.05 per share, consistent with the previous year[8] - The company approved a dividend of HKD 157,857,000 for the year, compared to HKD 190,357,000 in the previous year, representing a decrease of about 17%[96] - The company declared an interim dividend totaling HKD 46,429,000 after the reporting period[149] Investments and Future Plans - The group plans to launch the Asia-Pacific 6E high-throughput satellite in early 2024, which is expected to enhance broadband satellite services[35] - The group plans to expand its traditional satellite resource leasing business while exploring high-throughput satellite communication markets[38] - The group aims to enhance its competitive and service capabilities by completing the Asia-Pacific 6E satellite project and expanding into new satellite project investments[38] - The company has committed to contribute HKD 736,000,000 to establish Asia-Pacific Satellite Broadband Communication (Shenzhen) Co., Ltd., holding a 30% equity stake[136] - The company has committed to invest $6,000,000 (equivalent to HKD 46,800,000) for a 20% stake in Asia Pacific Starlink Satellite Co., which has a total registered capital of $30,000,000 (equivalent to HKD 234,000,000) as of August 31, 2021[137] Market Conditions - The group anticipates continued pressure on the market due to oversupply in the satellite transponder market and economic challenges in various regions[38] Employee and Governance - As of June 30, 2023, the group had 107 employees, a slight decrease from 109 employees as of June 30, 2022[184] - The group has complied with the Corporate Governance Code, except for the appointment of a new independent non-executive director, which was challenging due to the need for suitable candidates[186]

Financial Performance - The group's revenue for the fiscal year ended December 31, 2022, was HKD 944,305,000, an increase of HKD 16,498,000 or 1.8% compared to HKD 927,807,000 in 2021[10] - The net profit attributable to shareholders for 2022 was HKD 231,610,000, a decrease of 12.1% from HKD 263,382,000 in 2021[60] - The basic earnings per share for 2022 was HKD 0.2494, down from HKD 0.2836 in 2021, reflecting a decline of 12.1%[60] - The EBITDA for 2022 was HKD 765,102,000, up 4.3% from HKD 733,826,000 in 2021, with an EBITDA margin of 81.0%[60] - Revenue from satellite transponder capacity was HKD 861,299,000, up 1.6% from HKD 847,388,000 in the previous year[88] Cash and Financial Position - The group held approximately HKD 1,749,738,000 in cash and bank deposits as of December 31, 2022, ensuring a stable financial position[23] - The total cash and bank balances as of December 31, 2022, amounted to HKD 1,749,738,000, representing an increase of 28.3% from HKD 1,363,964,000 in 2021[60] - The group maintains a low level of debt, allowing for potential external borrowing if necessary in the future[23] - The group’s total liabilities decreased to HKD 1,059,855,000, down 8.7% from HKD 1,161,255,000 in 2021, resulting in a debt-to-asset ratio of 14.9%[60] - The company has no outstanding principal balance on a USD 12,000,000 revolving loan as of December 31, 2022[68] Dividends - The board declared a final cash dividend of HKD 0.17 per ordinary share for the fiscal year ended December 31, 2022, down from HKD 0.2050 per share in 2021[11] - The company has adopted a dividend policy based on financial condition, business outlook, future income, cash flow, and other specified factors[200] Business Development and Strategy - The group has successfully implemented the Asia-Pacific 6D satellite project, enhancing its competitive edge with advanced technology and a wider range of services[27] - The group is focusing on developing more Ku, Ka band, and high-throughput payload transponders to mitigate the impact of 5G on current satellite frequency usage[25] - The group achieved a positive business growth in markets such as mainland China and Southeast Asia despite facing significant market competition[46] - The group has a total capital commitment of USD 26,842,000 (approximately HKD 209,370,000) for developing gateway facilities and investing in joint ventures[23] Corporate Governance - The company has established an internal control and risk management committee to enhance risk and compliance management[105] - The board confirmed compliance with all relevant regulations and guidelines in all material aspects for the fiscal year 2022[101] - The board has established audit, risk management, nomination, and remuneration committees to ensure high standards of corporate governance[77] - The company emphasizes transparency in the remuneration process to prevent conflicts of interest among directors[111] - The independent non-executive directors are responsible for ensuring corporate governance standards are met[111] Board Composition and Diversity - The board consists of two executive directors, six non-executive directors, and four independent non-executive directors[107] - The board's current composition includes 1 director aged 30-49, 6 directors aged 50-59, and 6 directors aged 60 and above, with 100% male representation[153] - The company emphasizes the importance of board diversity for maintaining competitive advantage and has established a diversity policy since August 26, 2013[154] - The company plans to appoint at least one female director by December 31, 2024, as part of its board diversity policy[125] - The nomination committee regularly reviews the board's structure and composition to ensure a balanced diversity profile[150] Risk Management and Internal Controls - The company has implemented a robust internal control system based on the COSO framework, with annual reviews to ensure effectiveness[171] - The internal control and risk management committee conducted an annual review of the effectiveness of the internal control system and risk management for the year 2022[191] - The internal audit team independently tested and assessed the effectiveness of selected internal controls, with results reviewed by the audit and risk management committee[191] - No significant control failures were reported for the year ending December 31, 2022, indicating strong internal monitoring[173] - The company has a whistleblower protection policy in place to prevent corruption and bribery within the organization[175] Employee Development and Training - The company continues to prioritize employee training and development to enhance governance and compliance with legal regulations[185] - The company has implemented training programs for directors to enhance their knowledge and skills regarding corporate governance[128] Meeting Attendance and Performance - The attendance record for board meetings shows that the chairman attended 4 out of 4 meetings, while some directors had perfect attendance[109] - The remuneration committee held three meetings in 2022 to review the remuneration policies and performance of directors and senior management[111] - The nomination committee also held three meetings in 2022, focusing on the appointment and reappointment of directors[117] - The board of directors held four meetings and one annual general meeting in 2022[123]

Financial Performance - The company's revenue for the fiscal year ended December 31, 2022, was HKD 944,305,000, an increase of 1.8% compared to HKD 927,807,000 in 2021[18]. - The company's profit before tax for 2022 was HKD 287,267,000, a decrease of 9.9% from HKD 318,910,000 in 2021[19]. - The profit attributable to shareholders for 2022 was HKD 231,610,000, down 12.1% from HKD 263,382,000 in 2021[19]. - Gross profit for 2022 was HKD 455,050,000, reflecting a 1.9% increase from HKD 446,396,000 in the previous year[32]. - EBITDA for 2022 was HKD 765,102,000, up 4.3% from HKD 733,826,000 in 2021, with an EBITDA margin of 81.0%[32][33]. - The company faced a 12.1% decline in net profit attributable to shareholders, which was HKD 231,610,000 compared to HKD 263,382,000 in 2021[32]. - The company's basic earnings per share for the year 2022 was HKD 231,610,000, down from HKD 263,382,000 in 2021, indicating a decline of 12.1%[88]. - The company's total tax expenses for the year 2022 amounted to HKD 55,657,000, slightly up from HKD 55,528,000 in 2021, reflecting a year-over-year increase of 0.2%[84]. Revenue Sources - The satellite transponder capacity revenue was HKD 861,299,000, up 1.6% from HKD 847,388,000 in 2021[14]. - The revenue from satellite broadcasting and telecommunications services was HKD 4,381,000, down 6.5% from HKD 4,684,000 in 2021[14]. - The group's revenue from satellite transponder capacity and related services accounted for over 90% of total income for the years ended December 31, 2022, and 2021[96]. - Revenue for the year ended December 31, 2022, was HKD 944,305,000, an increase of 1.8% compared to HKD 927,807,000 in 2021[32]. Dividends - The company declared a final cash dividend of HKD 0.17 per share for the fiscal year ended December 31, 2022, compared to HKD 0.205 per share in 2021[21]. - The interim dividend declared for the year was HKD 5.00 per share, an increase from HKD 4.00 per share in the previous year, resulting in a total payout of HKD 46,429,000 compared to HKD 37,143,000 in 2021, representing a 25.5% increase[86]. - The proposed final dividend for the year is HKD 17.00 per share, down from HKD 20.50 per share in 2021, leading to a total proposed payout of HKD 157,857,000 compared to HKD 190,357,000 in the previous year, a decrease of 17.1%[86]. Assets and Liabilities - Total liabilities decreased to HKD 1,059,855,000, down HKD 101,400,000 from the previous year, resulting in a debt-to-asset ratio of 14.9%, a decrease of 1.0 percentage points[40]. - The total cash and bank balances amounted to HKD 1,749,738,000, reflecting a 28.3% increase from HKD 1,363,964,000[53]. - The total assets decreased by 2.3% to HKD 7,126,678,000, down from HKD 7,295,364,000[53]. - The company's equity as of December 31, 2022, was HKD 6,066,823,000, compared to HKD 6,134,109,000 in 2021, indicating a decrease of 1.1%[92]. - Non-current assets as of December 31, 2022, totaled HKD 4,185,970,000, a decrease from HKD 4,564,484,000 in 2021, reflecting a decline of 8.3%[90]. - Current assets decreased to HKD 5,262,248,000 in 2022 from HKD 5,766,823,000 in 2021, representing a decline of 8.7%[90]. - The company's total assets less current liabilities amounted to HKD 6,934,834,000 in 2022, down from HKD 7,065,430,000 in 2021, a decrease of 1.9%[90]. Cash Flow and Investments - The group recorded a net cash outflow of HKD 221,312,000, compared to a net cash inflow of HKD 88,810,000 in 2021[63]. - The company holds cash and bank deposits totaling HKD 1,749,738,000, with 76.82% in USD, indicating strong liquidity for future investments[41]. - The company reported a significant increase in interest income from bank deposits, rising by 48.7% to HKD 28,309,000[35]. - Interest income from bank deposits increased to HKD 26,280,000 in 2022 from HKD 13,649,000 in 2021, representing a growth of 92%[99]. - The company is actively exploring new satellite project investments and business areas to maintain stable growth amid challenging market conditions[30][50]. Operational Developments - The company has successfully launched the Asia-Pacific 6E high-throughput satellite in January 2023, expected to provide services by the end of 2023 to early 2024[8]. - The company has established or acquired gateway station capabilities in Hong Kong, Australia, Indonesia, and Malaysia to support high-throughput satellite services[8]. - The company continues to expand its service offerings, including satellite television broadcasting, telecommunications services, and data center services[11]. - The satellite transponder market remains under pressure, with declining rental prices and subdued demand due to oversupply and global chip shortages[10]. - The company plans to expand its satellite resources and high-throughput satellite communication market, enhancing its service capabilities and competitiveness[30]. Foreign Exchange and Impairments - The company recorded a foreign exchange loss of HKD 26,406,000, a significant decline compared to a gain of HKD 17,681,000 in the previous year[35]. - The group reported a loss of HKD 26,406,000 from foreign currency exchange in 2022, compared to a gain of HKD 17,681,000 in 2021[99]. - The company reported a foreign exchange loss of HKD 62,138,000 in 2022, contributing to a total comprehensive income of HKD 169,500,000, down from HKD 407,174,000 in 2021[92]. - The group did not recognize any impairment loss on intangible assets with indefinite useful lives for the years ended December 31, 2022, and 2021[106]. Employee and Corporate Governance - The group employed 113 staff as of December 31, 2022, and continues to provide on-the-job training for employees[115]. - The company has maintained compliance with the Corporate Governance Code, with no share buybacks during the reporting period[138]. - The company celebrated its 30th anniversary in 2022, attributing its success to customer support and employee efforts[145].