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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 所產生或因倚賴該等內容而引致的任何損失承擔任何責任。 2886 更換核數師 董事會及本公司審核委員會（「審核委員會」）均確認，除了有關審計費用事宜之外，本公 司與羅兵咸永道概無意見分歧，亦無有關羅兵咸永道辭任而需提請本公司證券持有人垂 注之情況。 截至本公告日期，羅兵咸永道尚未開始對本集團截至二零二四年十二月三十一日止年度 綜合財務報表進行任何審核工作。因此，董事會相信更換核數師將不會對本集團截至二 零二四年十二月三十一日止年度之年度審核工作產生任何重大影響。 本公告乃由濱海投資有限公司（「本公司」，連同其附屬公司，「本集團」）根據香港聯合交 易所有限公司（「聯交所」）證券上市規則（「上市規則」）第13.51(4)條作出。 核數師辭任 於二零二四年五月十日舉行的本公司股東週年大會上，羅兵咸永道會計師事務所（「羅兵 咸永道」）獲續聘為本公司核數師（「核數師」），任期直至本公司下屆股東週年大會結束為 止，並授權本公司董事會（「董事會」）釐定其薪酬。 董事會謹此 ...

組織章程 成員 會議 2886 濱海投資有限公司 （「公司」） 風險管理委員會 – 職權範圍 會議可以通過親自出席、電話或者電話會議及其他電信設施舉行，惟須所有參與者 都能同時通過聲音和其他會議參與者交流。 6. 次數 委員會每年至少召開1次會議，額外會議應委員會運作需要召開。 委員會主席可酌情決定或2位委員可聯名要求，召開額外會議。 - 1 - 1. 風險管理委員會（「委員會」）的目的在於協助本公司董事會（「董事會」）處理公司的風 險管理相關事宜。 2. 採用本職權範圍的委員會乃根據香港聯合交易所有限公司證券上市規則之企業管治 守則（「上市規則」）設立。 3. 委員會必須由至少4名成員（「成員」）組成，由董事會在董事中選任，且其成員大多數 應為獨立非執行董事； 4. 委員會主席由董事會會委任的獨立非執行董事擔任。 5. 由公司秘書擔任委員會秘書。委員會可以不時委任其他擁有適當資格和經驗的任何 人士作為委員會秘書。 7. 法定人數 會議的法定人數為2名成員或者於會議上有投票權的成員的50%，以較高者為准。 8. 決議 任何會議上的委員會決議均須出席成員多數票通過。 經所有成員簽署的書面決議被視為合法有效，如同 ...

濱海投資有限公司（「本公司」）董事會（「董事會」）謹此宣佈，自二零二四年十一月十五日 起，本公司之香港股份過戶登記分處更換為： 香港中央證券登記有限公司 香港 灣仔 皇后大道東183號 合和中心17樓 1712-1716號舖 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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告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。 2886 更換香港股份過戶登記分處 於本公告日期，董事會成員包括三名執行董事胡浩先生、汪鑫先生及高亮先生，三名非 執行董事張長亮先生、申洪亮先生及于克祥先生，以及四名獨立非執行董事葉成慶先生 銅紫荊星章，太平紳士、劉紹基先生、羅文鈺教授及鄧麗華博士。 電話號碼：(852) 2862 8555 傳真號碼：(852) 2865 0990 由二零二四年十一月十五日起，本公司的股份過戶及登記手續申請此後應遞交至香港中 央證券登記有限公司辦理。 承董事會命 濱海投資有限公司 執行董事 高亮 香港，二零二四年十月三十一日 ...

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告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 所產生或因倚賴該等內容而引致之任何損失承擔任何責任。 2886 公告 (1)續訂與泰達之持續關連交易 及 (2)根據與中國石化天然氣訂立之中國石化燃氣供應協議訂立新年度上限 獨立董事委員會及獨立股東之 獨立財務顧問 續訂與泰達之持續關連交易 謹此提述本公司日期為二零二一年十一月八日之公告，內容有關本公司與泰達訂立二 零二一年泰達燃氣供應協議及二零二一年泰達燃氣供應接駁協議，該等協議構成本公 司之持續關連交易。 鑑於二零二一年泰達燃氣供應協議及二零二一年泰達燃氣供應接駁協議將於二零二四 年十二月三十一日屆滿，且預期本集團將繼續與泰達集團進行類似交易，本公司已與 泰達訂立(i)自二零二五年一月一日起至二零二七年十二月三十一日止的泰達燃氣供應 協議，據此本集團將根據不時訂立的協議向泰達集團供應天然氣；及(ii)自二零二五年 一月一日起至二零二七年十二月三十一日止的泰達燃氣供應接駁協議，據此本集團將 根據不時訂立的燃氣委託配套建設協議向泰達集團提供燃氣供應接駁服務 ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of HKD 1.42, based on a P/E ratio of 7.2x for 2024 and a DDM valuation method assuming r=7% and g=0% [1][3]. Core Insights - The company, Binhai Investment (2886.HK), is a leading gas distributor in China, primarily operating in Tianjin and expanding to 8 provinces and 2 cities, with a strong focus on commercial clients [1][6]. - The company has a robust shareholder structure, with major stakeholders including Tianjin TEDA Investment Holding and Sinopec Great Wall Gas, providing strong support for its development [4][6]. - The company has seen a steady increase in gas sales volume, achieving 1.55 billion cubic meters in 2023, a year-on-year growth of 9%, and expects further growth in 2024 [1][6]. - The company has diversified its gas sources and reduced procurement costs by signing contracts with multiple suppliers, enhancing its supply chain flexibility [1][10]. - The company has launched value-added services, including the sale of gas appliances and safety products, which are expected to grow rapidly, with a gross profit of HKD 23.76 million in the first half of 2024, up 31.2% year-on-year [1][10]. - The company has maintained a high dividend payout, with a dividend yield of around 7%, making it attractive to investors [1][13]. Financial Performance and Valuation Summary - The company's revenue for 2023 was HKD 6.41 billion, with a projected increase to HKD 6.98 billion in 2024, reflecting a growth rate of 8.9% [2]. - The net profit attributable to shareholders for 2023 was HKD 256.61 million, with a slight increase expected in 2024 [2]. - The earnings per share (EPS) for 2024 is projected to be HKD 0.20, with a P/E ratio of 7.2x corresponding to a target price of HKD 1.42 [1][2].

Financial Performance - Revenue for the six months ended June 30, 2024, was HK$3,495,192, representing a 12% increase from HK$3,119,303 in the same period of 2023[4] - Gross profit decreased by 17% to HK$319,607 from HK$384,415 year-over-year[4] - Profit for the period was HK$171,176, a slight increase of 0% compared to HK$170,481 in the previous year[6] - Basic earnings per share attributable to owners rose by 1% to 12.41 cents from 12.31 cents[6] - Total comprehensive income for the period was HK$111,216, compared to HK$73,223 in the same period of 2023[7] - Profit for the period was HK$167,924,000, contributing to a total comprehensive income of HK$109,640,000 after accounting for other comprehensive loss[11] - Total segment revenue from external customers for the six months ended 30 June 2024 was HK$3,495,192,000, with sales of piped natural gas contributing HK$3,295,229,000[29] - Profit before income tax for the six months ended June 30, 2024, was HK$213,024,000, compared to HK$175,807,000 in the previous year, reflecting a growth of approximately 21.3%[30] - Profit attributable to owners of the Company for the six months ended 30 June 2024 was HK$167,924,000, slightly up from HK$166,436,000 in 2023, indicating a growth of 0.9%[44] Assets and Liabilities - Total assets decreased by 6% to HK$8,056,480 from HK$8,590,782 as of December 31, 2023[4] - Total liabilities decreased by 8% to HK$5,738,372 from HK$6,270,231[4] - Current assets decreased from HK$1,875,411,000 to HK$1,416,759,000, a reduction of about 24.4%[10] - Total equity attributable to owners of the Company increased slightly from HK$2,233,390,000 to HK$2,240,203,000, reflecting a growth of approximately 0.3%[11] - Non-current liabilities increased significantly from HK$2,059,386,000 to HK$3,000,074,000, marking an increase of approximately 45.7%[9] - Current liabilities decreased from HK$4,051,960,000 to HK$2,580,500,000, a decline of about 36.3%[10] - As of June 30, 2024, the Group's current liabilities exceeded its current assets by approximately HK$1,163,741,000[18] Cash Flow and Financing - Cash generated from operating activities decreased significantly to HK$104,913,000 from HK$288,015,000, representing a decline of about 63.5% year-over-year[15] - The net cash inflow from operating activities was HK$66,306,000, down from HK$255,255,000, indicating a decrease of approximately 74%[15] - The company reported a net finance income of HK$15,179, significantly up from HK$2,847 in the previous year[5] - The company experienced a net cash outflow from investing activities of HK$138,207,000, compared to HK$172,110,000 in the prior year, which is a reduction of approximately 19.7%[15] - The Group's total borrowings amounted to HK$3,907,086, showing a slight increase from HK$3,905,630 as of December 31, 2023[56] - Current borrowings decreased to HK$907,012 from HK$1,846,244, reflecting a reduction in short-term liabilities[56] Dividends and Shareholder Information - The company approved dividends totaling HK$102,827,000 for the last year, which included HK$62,725,000 from retained earnings[11] - The total 2023 Final Dividend recommended was approximately HK$102,827,000, down 24% from HK$135,203,000 in 2022[40] - The Company did not declare an interim dividend for the six months ended 30 June 2024[40] - The company’s largest shareholder, TEDA HK, holds a 36.56% ownership interest as of June 30, 2024, up from 36.24% at the end of 2023[82] Operational Highlights - The Group's income from sales of piped natural gas amounted to HK$3,295,229,000, representing an increase of HK$501,479,000 or 18% compared to HK$2,793,750,000 for the same period last year[103] - The total gas sales volume in the first half of 2024 was 1.327 billion cubic meters, a year-on-year increase of 23.2%, with piped natural gas sales reaching 0.947 billion cubic meters, an increase of 23.9%[109] - The Group's strategic focus includes the continuous optimization of upstream and downstream industry chains as part of the "14th Five-Year Plan"[109] - The Group has established a supply chain company in Shenzhen to enhance resource coordination and market expansion efforts[109] Employee and Governance - The Group had a total of 1,741 employees, a slight decrease from 1,752 employees as of December 31, 2023[119] - Employee salaries and wages for the period amounted to HK$121,200,000, representing an increase of approximately 3.5% from HK$117,168,000 for the same period in 2023[119] - The Company has adopted a Code of Conduct for securities transactions by Directors, ensuring compliance with the Model Code for Securities Transactions by Directors of Listed Issuers[140] - The Board comprises three executive Directors and three non-executive Directors as of the report date[146]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 3,495,192 thousand, representing a 12% increase compared to HKD 3,119,303 thousand for the same period in 2023[1] - Gross profit decreased by 17% to HKD 319,607 thousand from HKD 384,415 thousand year-on-year[1] - Net profit for the period was HKD 171,176 thousand, slightly up from HKD 170,481 thousand, reflecting a 0% change[1] - Operating profit for the period was HKD 255,145 thousand, down from HKD 286,428 thousand in the same period last year[3] - Other income decreased to HKD 49,327 thousand from HKD 68,424 thousand year-on-year[3] - The company reported a total comprehensive income of HKD 111,216 thousand, compared to HKD 73,223 thousand in the previous year[5] - The company reported a profit of HKD 167,924 thousand for the six months ended June 30, 2024, compared to HKD 166,436 thousand in the same period of 2023, indicating a slight increase of approximately 0.9%[9] - The company’s total comprehensive income for the six months ended June 30, 2024, was HKD 109,640 thousand, compared to HKD 72,434 thousand in the same period of 2023, representing an increase of approximately 51.4%[10] Assets and Liabilities - Total assets as of June 30, 2024, decreased by 6% to HKD 8,056,480 thousand from HKD 8,590,782 thousand as of December 31, 2023[1] - Total liabilities decreased by 8% to HKD 5,738,372 thousand from HKD 6,270,231 thousand year-on-year[1] - Total equity as of June 30, 2024, was HKD 2,318,108 thousand, a slight decrease from HKD 2,320,551 thousand as of December 31, 2023[7] - The company’s total assets decreased from HKD 8,590,782 thousand in December 2023 to HKD 8,056,480 thousand in June 2024, representing a decline of about 6.2%[8] - The company’s borrowings increased from HKD 2,059,386 thousand in December 2023 to HKD 3,000,074 thousand in June 2024, indicating a significant increase of approximately 45.7%[8] - The total liabilities, including accounts payable and other payables, increased to HKD 1,324,506 from HKD 1,183,124, reflecting a growth of 11.9%[46] Cash Flow and Financing - The net cash inflow from operating activities for the six months ended June 30, 2024, was HKD 66,306 thousand, a significant decrease from HKD 255,255 thousand in the same period of 2023, reflecting a decline of about 74%[12] - The company’s cash generated from operating activities was HKD 104,913 thousand for the six months ended June 30, 2024, compared to HKD 288,015 thousand in the same period of 2023, indicating a decrease of approximately 63.5%[12] - The net cash inflow from financing activities for the six months ended June 30, 2024, was HKD 1,351,267,000, compared to HKD 605,182,000 in the same period of 2023, representing an increase of 123.5%[13] - The net cash outflow from financing activities was HKD 48,378,000 for the six months ended June 30, 2024, a decrease from HKD 162,413,000 in the previous year, indicating improved cash management[13] - The total cash and cash equivalents decreased by HKD 120,279,000, down from a decrease of HKD 79,268,000 in the same period last year, reflecting a more challenging liquidity position[13] Shareholder Information - The company’s largest shareholder, Taida Hong Kong, holds approximately 40.63% of the issued ordinary shares, while Sinopec holds about 29.97%[14] - The total amount of final dividend proposed for the year ended December 31, 2023, is approximately HKD 102,827,000, down from HKD 135,203,000 for the previous year[96] Operational Highlights - The segment performance for pipeline natural gas sales showed a gross profit of HKD 188,923,000 for the six months ended June 30, 2024, compared to HKD 175,807,000 in 2023, indicating an increase of about 7%[28] - The company’s administrative expenses for the six months ended June 30, 2024, were HKD 139,109,000, compared to HKD 143,913,000 in 2023, showing a reduction of approximately 3%[28] - The company recognized a net profit before tax of HKD 203,772,000 for the six months ended June 30, 2024, compared to HKD 213,024,000 in 2023, representing a decrease of approximately 4%[28] - The company’s income tax expense for the six months ended June 30, 2024, was HKD 32,596,000, down from HKD 42,543,000 in 2023, a decrease of 23.4%[35] - In the first half of 2024, the company achieved a total gas sales volume of 1.327 billion cubic meters, representing a year-on-year increase of 23.2%[85] Strategic Initiatives - The company plans to continue optimizing its upstream and downstream industrial chain as part of its strategic development during the 14th Five-Year Plan[84] - The company established a supply chain company in Shenzhen in 2023 to enhance upstream resource integration and reduce procurement costs[84] - The company aims to leverage the "dual carbon" policy opportunities to drive revenue growth while exploring new profit growth points[87] - The company has established a new brand "Taiyuejia" to diversify its product offerings and enhance profitability in its value-added services segment[85] Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Accounting Standards and the relevant listing rules, ensuring compliance and transparency[15] - The group has not utilized any derivative financial instruments to hedge its financial risks as of June 30, 2024, indicating a conservative risk management approach[22] - The company is committed to transparency and compliance with regulatory requirements[104] - The board of directors consists of three executive directors and four independent non-executive directors[104] - The board includes members with diverse backgrounds, including professionals and scholars[104] Employee Information - The group employed 1,741 staff as of June 30, 2024, with total employee compensation amounting to HKD 121,200,000 for the period[100]

Investment Rating - The report does not explicitly state an investment rating for the company [41] Core Insights - The company operates primarily in urban gas sales, pipeline installation, and natural gas transportation across 8 provinces and 2 cities in China [4] - The group achieved a total gas sales volume of over 2.2 billion cubic meters in 2023, representing a year-on-year increase of 9.4%, with pipeline gas sales growing by 12.3% [6] - The gross margin for 2023 was RMB 0.47, an increase of RMB 0.09 year-on-year, with expectations for further expansion in 2024 due to cost reductions and price adjustments [2][32] Financial Performance - The group's revenue for 2023 increased by 5% to HKD 6.41 billion, while net profit decreased by 21% to HKD 260 million, primarily due to increased financing costs [28] - The company maintained a dividend payout ratio of 40%, with an expected dividend of HKD 0.076 per share [28] - The group's operating cash flow for 2023 was HKD 830 million, significantly up from HKD 350 million in 2022 [20] Business Growth Highlights - The company aims to achieve a total gas sales target of 2.5 billion cubic meters in 2024, a 15% increase from 2023, driven by stable demand from existing customers and new large users [40][49] - The value-added services segment, which includes small installations and gas appliance sales, recorded a 44% year-on-year increase in gross profit, contributing significantly to overall profitability [34] - The group has established strategic partnerships to enhance upstream resource procurement, which is expected to lower costs and improve profitability [30][24] Market Position and Strategy - The company is well-positioned with connections to four LNG receiving stations, allowing it to access low-cost gas sources without heavy capital investment [8][24] - The major shareholders, including Tianjin TEDA Investment and Sinopec's subsidiary, are expected to support the group's long-term development and enhance its competitive edge [19][51] - The group has completed several strategic contracts to secure gas supply, which will further strengthen its market position [30][17]

Financial Performance - Revenue for the year ended 31 December 2023 was approximately HK$6.41 billion, representing a 5% increase from HK$6.10 billion in 2022[13]. - Profit for the year amounted to approximately HK$263 million, a decrease of 21% from HK$333 million in 2022[13]. - The gross profit margin for the year was 11.7%, a slight decrease from 11.9% in the previous year[12]. - The profit margin for the year was 4.1%, down from 5.5% in 2022[12]. - The Group's gross profit for the year ended December 31, 2023, was approximately HK$749 million, with a gross profit margin of approximately 12%, unchanged from 2022[69]. - Profit attributable to equity owners of the Company decreased to approximately HK$257 million for the year ended December 31, 2023, down from approximately HK$326 million in 2022, mainly due to increased finance costs[69]. - Basic earnings per share for the year ended December 31, 2023, were HK$19.0 cents, compared to HK$24.1 cents for the year ended December 31, 2022[69]. Sales and Customer Growth - The Group achieved a record high in total gas sales, exceeding 2.2 billion cubic metres, with piped natural gas sales reaching 1.61 billion cubic metres, a year-on-year increase of 12%[3]. - The number of regular customers increased by about 100,000, bringing the total to approximately 2,399,000[3]. - The Group's income from sales of piped natural gas amounted to HK$5,850,142,000, representing an increase of approximately 9% compared to HK$5,380,406,000 in 2022[39]. - The natural gas trading business contributed a trading volume of 0.059 billion cubic metres, achieving a gross profit of approximately HK$3 million[3]. Business Development and Strategy - The Group's value-added business gross profit increased year-on-year by 44%, significantly enhancing profitability[3]. - The Group plans to continue developing diversified value-added businesses to drive rapid growth in the coming years, focusing on reducing gas procurement costs and enhancing profitability[34]. - The Group aims to actively develop diversified value-added businesses, expecting significant growth in performance over the next few years[59]. - The Group is committed to green development and responding to national clean energy strategies, focusing on sustainable growth and maximizing shareholder returns[59]. Infrastructure and Operations - The cumulative length of urban medium-pressure gas pipelines increased by 170 kilometers to approximately 3,891 kilometers as of December 31, 2023[41]. - The Group's engineering construction and gas pipeline installation service revenue was approximately HK$504,871,000, a decrease of about 22% from HK$646,835,000 in the previous year[41]. - The Group successfully realized an incremental production of 300,000 cubic meters for the daily gas consumption of the Qinhuangdao Yaohua Glass Project, enhancing its upstream resource advantage[16]. Financial Position and Liquidity - As of December 31, 2023, total borrowings amounted to approximately HK$3,905,630,000, a slight increase from HK$3,904,259,000 in 2022[70]. - Cash and bank deposits were approximately HK$946,324,000, down from HK$1,018,114,000 in 2022, including cash equivalents of HK$808,364,000[70]. - The Group's current liabilities exceeded its current assets by approximately HK$2,176,549,000 as of December 31, 2023[71]. - The current ratio was approximately 0.46, indicating potential liquidity concerns[70]. - The gearing ratio was approximately 56%, calculated as net debt divided by total capital[70]. Corporate Governance - The Company fully complied with the Corporate Governance Code provisions as set out in the Listing Rules on The Stock Exchange of Hong Kong for the year ended 31 December 2023[93]. - The Board comprises nine Directors, including three Executive Directors and four Independent Non-Executive Directors[98]. - The Company adopted a code of conduct for securities trading by Directors, requiring approval from the Chairman for transactions[95]. - The Nomination Committee held two meetings during the year ended December 31, 2023, discussing the appointment and re-election of directors, and reviewing the effectiveness of the Board Diversity Policy[126]. Risk Management - The Group's risk management framework is overseen by the Risk Committee, which comprises four independent non-executive Directors and one executive Director[186]. - The internal control work in 2023 focused on enhancing risk assessments and improving the efficiency of control activities[181]. - The Risk Committee discussed the overview and assessment of the Group's principal risks during its meeting held in the year ended December 31, 2023[167]. Employee and Board Diversity - As of December 31, 2023, the total number of male and female employees was 1,219 and 533 respectively, resulting in a male to female ratio of approximately 2:1[150]. - The company emphasizes fairness and impartiality in its recruitment process, ensuring equal opportunities for all applicants[125]. - The Board Diversity Policy aims to maintain competitive advantage through diverse talents, skills, and backgrounds, with measurable objectives set by the Nomination Committee[121].

Revenue and Profitability - Revenue for the year ended December 31, 2023, was HKD 6,406,681, representing a 5% increase from HKD 6,102,638 in 2022[2] - Gross profit increased by 3% to HKD 748,979, compared to HKD 727,322 in the previous year[2] - Net profit for the year decreased by 21% to HKD 263,422, down from HKD 332,753 in 2022[2] - Earnings per share (EPS) decreased by 21%, with basic EPS at HKD 19.0 compared to HKD 24.1 in 2022[2] - The group reported a total revenue of HKD 140,681,000 for 2023, a significant increase from HKD 63,359,000 in 2022, representing a growth of approximately 121.5%[33] - The group’s consolidated gross profit for the year ended December 31, 2023, was approximately HKD 749 million, compared to HKD 727 million in 2022, maintaining a gross profit margin of 12%[112] - The profit attributable to the company's owners for the year ended December 31, 2023, was approximately HKD 257 million, down from HKD 326 million in 2022, primarily due to increased financing costs driven by rising SOFR rates[113] Financial Position - Total assets as of December 31, 2023, were HKD 8,590,782, a slight increase of 0% from HKD 8,570,664 in 2022[5] - Current liabilities increased by 7% to HKD 4,051,960, up from HKD 3,788,969 in the previous year[5] - As of December 31, 2023, the group's current liabilities exceeded current assets by approximately HKD 2,176,549,000, indicating a need for sufficient financial resources to meet obligations[68] - Total current borrowings increased to HKD 135,000 million from HKD 122,000 million, representing an increase of approximately 10.7% year-on-year[81] - The total borrowings amounted to HKD 3,905,630 million, slightly up from HKD 3,904,259 million[81] - The group's current ratio as of December 31, 2023, was approximately 0.46, with a debt-to-capital ratio of about 56%[114] Costs and Expenses - The cost of gas procurement for 2023 was HKD 5,081,867,000, up from HKD 4,789,548,000 in 2022, indicating an increase of about 6.1%[35] - The net financing cost for 2023 was HKD (156,400,000), compared to HKD (106,567,000) in 2022, reflecting an increase of approximately 47%[36] - The group's total sales and service costs and administrative expenses amounted to HKD 6,007,889,000 in 2023, compared to HKD 5,690,138,000 in 2022, indicating an increase of approximately 5.6%[35] - The group's administrative expenses for the year ended December 31, 2023, were approximately HKD 350 million, an increase of about HKD 35 million or 11% compared to HKD 315 million for the previous year[92] Dividends - The proposed final dividend per ordinary share is HKD 0.10, an increase from HKD 0.09 in the previous year[27] - The proposed final dividend for the year ended December 31, 2023, is approximately HKD 102,827,000, down from HKD 135,203,000 in 2022, which corresponds to a decrease of about 24%[39] - The board proposed a final dividend of HKD 0.076 per share for the year ended December 31, 2023, down from HKD 0.10 per share in 2022, with shareholders having the option to receive the dividend in cash or new ordinary shares[128] Operational Highlights - The total gas sales volume for 2023 reached a record high of 2.2 billion cubic meters, with pipeline gas sales increasing by 12% year-on-year to 1.61 billion cubic meters[55] - The pipeline natural gas sales revenue for the year was HKD 5,850,142,000, an increase of approximately 9% from HKD 5,380,406,000 in the previous year[60] - The group’s rental income increased to HKD 10,180,000 in 2023 from HKD 6,533,000 in 2022, marking a growth of approximately 55.5%[33] - The group’s insurance agency service revenue rose to HKD 9,246,000 in 2023, compared to HKD 6,561,000 in 2022, representing an increase of about 40.6%[33] - The cumulative number of users reached approximately 2,399,000, with about 100,000 new regular users added during the year[55] Strategic Initiatives - The group plans to enhance its upstream gas source structure and reduce procurement costs through strategic partnerships, including agreements with Beijing Gas Group and Sinopec[87] - The group aims to enhance its core gas supply business in 2024 by actively expanding pipeline gas and transportation gas customers while reducing procurement costs to improve profitability[120] - The company plans to continue developing diversified value-added services, expecting this segment to drive significant growth in the coming years[120] - The group is committed to promoting green development and responding to national clean energy strategies, focusing on sustainable growth and creating new profit growth points[120] Market Outlook - The OECD forecasts China's economic growth rate to be 4.7% in 2024, which is expected to positively impact the natural gas industry[99] - The group expects China's LNG imports to rebound to 80 million tons in 2024, surpassing the record of 78.79 million tons set in 2021[99] Employee and Corporate Governance - The group has 1,752 employees as of December 31, 2023, with total employee compensation amounting to approximately HKD 222 million, up from HKD 216 million in the previous year[101] - The group received several awards for its corporate social responsibility efforts, including the "Best ESG Company Award" at the 8th Zhitong Finance Capital Market Annual Meeting[58] Miscellaneous - The annual report for the year ended December 31, 2023, is expected to be published around April 12, 2024[108] - The group had no significant contingent liabilities as of December 31, 2023[118]