Financial Performance - The group's operating profit after tax for the six months ended June 30, 2020, was HKD 3.517 billion, a decrease of HKD 366 million or 9.4% compared to the same period last year [2]. - The group's net profit attributable to shareholders was HKD 2.667 billion, down HKD 1.222 billion or 31.4% year-on-year, with earnings per share at HKD 0.15 [3]. - Total revenue, excluding fuel adjustment costs, was HKD 17.965 billion, a decline of 9.8% from HKD 19.924 billion in 2019 [3]. - Revenue for the six months ended June 30, 2020, was HKD 18,235.3 million, a decrease of 10.4% compared to HKD 20,351.9 million in 2019 [17]. - Net profit for the period was HKD 3,188.1 million, representing a decline of 29.0% from HKD 4,485.4 million in 2019 [18]. - The total comprehensive income for the period was HKD 1,383.1 million, significantly lower than HKD 4,531.9 million in 2019 [18]. - The company reported a total comprehensive income of HKD 1,204.1 million for the period, compared to a total comprehensive income of HKD 2,666.9 million in the previous year [56]. Customer and Market Insights - The number of customers in Hong Kong reached 1,935,512, an increase of 1,785 from the end of 2019 [4]. - The group plans to enhance its integrated energy station business, combining electricity, natural gas, and renewable energy to improve energy efficiency [6]. - The company anticipates stable growth in the number of customers in Hong Kong for 2020, despite challenges posed by the COVID-19 pandemic and economic conditions [15]. Operational Developments - The total gas sales volume in mainland China was approximately 12.453 billion cubic meters, a decrease of 4% compared to the same period last year [6]. - The group’s total gas sales volume in Hong Kong was approximately 15,165 million megajoules, a decrease of 3.9% year-on-year [4]. - The group has obtained a total of 267 projects in 26 provinces and municipalities in mainland China, an increase of 2 projects from the end of last year [5]. - The group is actively developing new environmental energy businesses, including coalbed methane liquefaction and biomass conversion, contributing to business growth [5]. - The group is focused on expanding its environmental protection business, including kitchen waste treatment and waste-to-energy projects, to enhance operational synergies and revenue stability [8]. Financial Position and Capital Management - The group reported a net loss in other comprehensive income of HKD 1,269.4 million, primarily due to foreign exchange differences [22]. - The company reported a total asset net of current liabilities of HKD 113,015.9 million, slightly down from HKD 114,302.6 million at the end of 2019 [19]. - The net assets of the company were HKD 72,585.6 million, a decrease from HKD 75,396.7 million in the previous year [20]. - The group believes it has sufficient financial resources to meet its obligations, supported by available credit and expected cash flows [24]. - The total liabilities as of June 30, 2020, were HKD 14,532.0 million, slightly down from HKD 14,718.0 million as of December 31, 2019 [52]. Investments and Projects - The group has invested in 7 water supply projects in mainland China, including joint ventures and independent projects in Jiangsu and Anhui provinces [8]. - The organic waste resource utilization project in Suzhou has processed over 100,000 tons of organic waste, generating nearly 3 million cubic meters of biogas for urban use [7]. - The group has secured a 50-year contract for a liquefied natural gas receiving station in Tangshan, Hebei, allowing for the import of 1 million tons of LNG annually, significantly boosting storage capacity [7]. - The advanced biofuel business in Jiangsu Province's Zhangjiagang City is set to commence production in the third quarter of this year, utilizing self-developed technology [16]. Dividends and Shareholder Returns - The group’s interim dividend per share remains unchanged at HKD 0.12 [3]. - The board declared an interim dividend of HKD 0.12 per share, payable to shareholders on September 14, 2020 [14]. - The company declared a dividend of HKD 2,132.6 million, compared to HKD 2,031.0 million in 2019 [17]. Risk Management and Compliance - The group faced several financial risks, including market risk, credit risk, and liquidity risk, with no changes in risk management policies since the end of the previous year [27]. - The company has complied with all provisions of the Corporate Governance Code as of June 30, 2020 [66]. - The audit and risk committee reviewed the unaudited consolidated interim financial statements for the six months ended June 30, 2020, with no modifications in the review report from the external auditor [67]. Shareholder Information - Major shareholder Dr. Li Ka-shing holds 7,379,707,351 shares, representing 41.53% of the total issued shares as of June 30, 2020 [74]. - Timpani Investments Limited holds 5,703,993,415 shares, accounting for 32.10% of the total issued shares as of June 30, 2020 [74]. - The company holds 7,379,707,351 shares, representing a significant voting power exceeding one-third at the shareholders' meeting [76].

Environmental Commitment and Sustainability - The company is committed to supplying environmentally friendly energy and products, aiming to create a sustainable future for the next generation [2]. - The company actively invests in research and development to seek breakthroughs in innovative technologies to address global environmental challenges [2]. - The company has been recognized for its corporate social responsibility efforts, receiving the Hong Kong Environmental Excellence Award and the Environmental Leadership Award from Bank of China (Hong Kong) [4]. - The group is committed to environmental sustainability, with initiatives to convert kitchen waste and other refuse into natural gas and solid fuels [151]. - The company is focusing on developing smart integrated energy stations and diversifying its energy portfolio to enhance energy efficiency and reduce emissions [157]. - The board announced a new strategy focusing on sustainability, aiming for a 30% reduction in carbon emissions by 2025 [166]. Financial Performance - The total revenue for the year was HKD 40,628 million, an increase of 4% from HKD 39,073 million in the previous year [136]. - The net profit attributable to shareholders decreased by 25% to HKD 6,966 million, down from HKD 9,313 million in the previous year [144]. - The company declared a dividend of HKD 5,924 million, an increase of 10% from HKD 5,385 million in the previous year [136]. - The company’s earnings per share decreased to HKD 0.412, down 25% from HKD 0.550 in the previous year [144]. - The company reported a significant increase in revenue, achieving a total of HKD 10.5 billion for the fiscal year, representing a 15% year-over-year growth [166]. - The company provided an optimistic outlook, projecting a revenue growth of 12% for the next fiscal year, targeting HKD 11.8 billion [166]. Customer Growth and Market Expansion - The number of customers as of December 31 reached 1,933,727, an increase of 1% from 1,908,511 in the previous year [136]. - The number of gas customers increased to approximately 29.78 million, representing an 8% growth [144]. - The company serves nearly 30 million customers across 132 gas projects in 23 provinces, autonomous regions, and municipalities in mainland China [174]. - User data showed a growth in active users, reaching 10 million, which is a 15% increase compared to the previous quarter [164]. - The company is expanding its market presence in mainland China, aiming to increase its market share by 5% over the next two years [166]. Operational Developments and Projects - The company invested HKD 70,500 million in production facilities, pipelines, and other fixed assets to expand its operations [147]. - The total number of projects in mainland China reached 265, covering 26 provinces and municipalities [147]. - The group has invested and operated 7 water supply projects in mainland China, including joint ventures in Suzhou and Wuhu, contributing to stable revenue and high environmental benefits [151]. - The company has initiated 11 new projects in 2019, including gas pipeline projects and distributed energy projects, to increase gas consumption among industrial customers [154]. - The company plans to expand its production capacity to 250,000 tons annually by mid-2020, with the project expected to yield good economic benefits [153]. Challenges and Responses - The group is facing challenges due to the COVID-19 pandemic, which has led to a significant reduction in industrial gas and water demand [151]. - The company is actively pursuing cost-cutting measures and innovation to enhance customer service and operational efficiency [157]. - The company anticipates that the demand for gas will gradually return to normal levels as business operations resume post-pandemic [157]. Research and Development - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience [164]. - Research and development investments increased by 25%, totaling HKD 500 million, to drive innovation in energy solutions [166]. - The company is actively exploring integrated and distributed energy service opportunities, including commercial hot water and heating services [154]. Strategic Initiatives - The company is exploring environmental projects in the Guangdong-Hong Kong-Macao Greater Bay Area to seize investment opportunities [157]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $200 million allocated for potential deals [164]. - The establishment of the National Pipeline Company in December 2019 is expected to promote the market-oriented reform of the natural gas sector [157]. Product and Service Innovations - The company launched a new gas safety initiative, conducting safety checks and promoting gas safety knowledge to over 6 million customers [187]. - The company is developing a smart kitchen series with IoT capabilities, with some products expected to launch in 2020 [186]. - New product launches are expected to contribute an additional HKD 1 billion in revenue, with a focus on smart home technologies [167].

Financial Performance - The group's unaudited profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3.889 billion, a decrease of HKD 900 million or 18.8% compared to the same period last year [2]. - The company reported a decrease in local gas sales volume of 2.4% to 15,776 million megajoules due to economic slowdown and higher average temperatures [4]. - The net profit for the period was HKD 4,485.4 million, down from HKD 5,371.2 million in the previous year, indicating a decrease of about 16.5% [21]. - The company’s basic and diluted earnings per share were HKD 23.0, down from HKD 28.3 in the previous year, indicating a decline of approximately 18.6% [21]. - The company’s after-tax profit attributable to shareholders for the first half of the year was HKD 756 million, an increase of approximately 14% compared to the same period last year [13]. - The total comprehensive income for the period was HKD 4,531.9 million, compared to HKD 4,544.6 million in the same period of 2018, indicating a marginal decline [27]. - The total revenue for the six months ended June 30, 2019, was HKD 20,351.9 million, an increase of 5.8% from HKD 19,241.6 million in the same period of 2018 [50]. - The adjusted EBITDA for the group was HKD 5,878.1 million, with a breakdown of HKD 2,619.7 million from Hong Kong and HKD 2,888.8 million from mainland China [52]. Revenue and Sales - Revenue, excluding fuel adjustment costs, was HKD 19.924 billion, up from HKD 18.744 billion in 2018, representing an increase of 6.3% [3]. - Gas sales, including fuel adjustment fees, amounted to HKD 15,733.2 million, up from HKD 14,641.1 million, reflecting a growth of 7.5% [50]. - The revenue from gas, water, and related businesses in Hong Kong was HKD 5,207.3 million, while mainland China contributed HKD 13,020.1 million [52]. - The group’s other sales revenue reached HKD 647.6 million, compared to HKD 621.0 million in the previous year, indicating a growth of 4.5% [50]. Customer Growth - The number of Hong Kong gas customers reached 1,920,595, an increase of 12,084 customers compared to the end of 2018 [4]. - The company anticipates stable growth in the number of customers in Hong Kong, supported by government efforts to increase land and housing supply [18]. - The company’s pipeline gas business continues to grow, with an increasing customer base in both Hong Kong and mainland China, which will support the development of new businesses [19]. Investments and Projects - The group has invested in seven water supply projects across various provinces, including a new project in Guangdong Province, marking its first investment in the Greater Bay Area, which aligns with national development goals [8]. - The group is actively enhancing its gas storage capacity in Jiangsu Province, with the first phase of a gas storage facility under construction, aiming for a total capacity of approximately 460 million standard cubic meters, with three wells already operational since October 2018 [7]. - The second phase of the gas storage project plans to construct 12 additional wells, increasing total storage capacity to over 1 billion standard cubic meters, which will support gas supply during peak winter demand in East China [7]. - The group has obtained a total of 260 projects in mainland China, an increase of 6 projects compared to the end of last year [5]. - The company added 5 new projects in 2019, including distributed energy projects in various provinces, enhancing its project development capabilities [13]. Financial Management - The group plans to increase its medium-term note issuance limit from HKD 139 billion to USD 3 billion, enhancing future financing flexibility [15]. - The issuance of new perpetual securities at a coupon rate of 4.75% received over 14 times subscription, reflecting strong market demand [15]. - The group’s interest expenses decreased to HKD 559.5 million from HKD 609.4 million year-on-year, showing improved financial management [21]. - The net cash generated from operating activities for the six months ended June 30, 2019, was HKD 4,876.2 million, a decrease of 2.7% compared to HKD 5,010.6 million in the same period of 2018 [25]. - The total liabilities as of June 30, 2019, amounted to HKD 737.3 million, down from HKD 827.8 million as of December 31, 2018 [45]. Environmental Initiatives - The group’s waste treatment facility in Suzhou Industrial Park processes 500 tons of kitchen waste daily, converting it into natural gas and other products, and is the first of its kind in municipal environmental sanitation [8]. - The group is exploring high-quality public utility projects in mainland China, leveraging synergies between urban gas, midstream natural gas, and water services for stable revenue and environmental benefits [9]. - The group has established research bases in Shanghai and Suzhou to develop new energy-saving and emission-reduction technologies, with production bases under construction in East and North China expected to commence operations by the end of 2019 [19]. Shareholder Information - The board declared an interim dividend of HKD 0.12 per share, payable to shareholders listed on the register on September 13, 2019 [17]. - The proposed interim dividend for 2019 is HKD 2,031.0 million [73]. - The total number of issued shares increased to 16,925,052,244 as of June 30, 2019, up from 15,386,411,131 at the end of 2018, reflecting a growth of 10.0% [71]. - The total equity held by major shareholders and related parties is substantial, indicating strong control over the company [92]. Corporate Governance - The group has complied with all corporate governance codes as of June 30, 2019 [84]. - Dr. Li Ka-Kit was appointed as the chairman of the board and the nomination committee after the annual general meeting on May 28, 2019 [96]. - The board of directors includes independent non-executive directors such as Dr. Li Ka-Kit and Dr. Cheng Mu-Chi [99].

Financial Performance - The company reported a total revenue of 132 million, showing a slight increase from the previous period[22]. - The company reported a significant increase in revenue, achieving a total of 205 million in the latest quarter, reflecting a growth of 15% year-over-year[23]. - The group’s revenue from gas sales reached HKD 40 billion in 2018, indicating a steady growth trend[1]. - The total revenue for 2018 was HKD 39,073.0 million, up from HKD 32,476.5 million in 2017, reflecting a year-over-year increase of about 20.0%[182]. - The net profit attributable to shareholders for 2018 was HKD 9,312.8 million, an increase from HKD 8,225.3 million in 2017, which is a rise of about 13.2%[182]. - The profit before tax for 2018 was HKD 12,339.5 million, compared to HKD 11,096.7 million in 2017, indicating a growth of approximately 11.2%[182]. - The earnings per share for 2018 was HKD 0.61, compared to HKD 0.54 in 2017, representing an increase of approximately 12.9%[182]. - The proposed dividend for 2018 was HKD 3,538.9 million, up from HKD 3,217.2 million in 2017, reflecting an increase of about 10.0%[182]. Customer Growth - User data indicates a growth in active users, reaching 131,130, which represents a significant increase compared to last year[22]. - User data showed an increase in active users, reaching 1.2 million, which is a 20% increase compared to the previous quarter[23]. - The number of customers as of December 31, 2018, reached 1,908,511, an increase from 1,883,407 in 2017, representing a growth of approximately 1.3%[182]. - The number of gas customers in mainland China increased to approximately 27.54 million, representing a growth of 9%[34]. Market Expansion and Investment - The company is focusing on new product development, particularly in the areas of distributed energy and LNG stations[22]. - Market expansion efforts include the establishment of new gas supply projects in Hainan and other regions[22]. - The company is exploring potential acquisitions to enhance its market position in the energy sector[22]. - Investment in biomass and other renewable energy projects is a key strategy moving forward[22]. - The company plans to expand its market presence and enhance its service offerings in the energy sector[24]. - The company is actively investing in gas infrastructure in mainland China to supply reliable clean energy to homes and businesses[61]. - The company plans to invest in more LNG receiving stations to meet the growing demand for clean energy, with negotiations ongoing for projects expected to start in 2020[71]. Environmental Initiatives - The company has initiated a pilot project in Tangshan, Hebei Province, utilizing patented technology to convert agricultural waste into furfural and fiber pulp, marking a significant step towards a green economy[7]. - The company is committed to creating economic value for shareholders and the community through its gas, water, and environmental services, promoting a green and low-carbon lifestyle[2]. - The company has reduced carbon emissions by 430,000 tons through its landfill gas application project, equivalent to the carbon absorption of 18.5 million trees annually[138]. - The company is developing new energy-saving and emission-reduction technologies, with several projects expected to commence production within the year[41]. - The company is actively seeking environmentally friendly projects in the Greater Bay Area to align with national development policies and seize investment opportunities[43]. Operational Efficiency - The company aims to improve its logistics capabilities for coal transportation, which is expected to enhance operational efficiency[22]. - The company plans to enhance its distribution network, aiming for a 20% increase in efficiency by the end of the fiscal year[23]. - The company aims to enhance production efficiency and utilize innovative technologies to ensure safe and stable gas supply[137]. - The company has implemented employee training programs and asset management systems to enhance operational safety and security[168]. Awards and Recognition - The company received multiple awards in 2018, including the Supreme Care Award and the Most Creative Award from the "Industrial Love" recognition program[5]. - The company has been recognized multiple times for its outstanding family-friendly employer initiatives[163]. - The "Cooking Together" program for elderly individuals has been recognized with multiple awards, including the "Best Dementia Care Program Award" at the Asia-Pacific Innovation in Elderly Care Services Awards[146]. Community Engagement - The company participated in 265 community service activities in Hong Kong, contributing a total of 91,628 service hours, with cumulative service hours reaching 875,677[145]. - The company donated over 408,600 RMB worth of gifts to more than 13,300 needy individuals, with around 1,800 volunteers packaging nearly 51,000 rice dumplings[146]. - The company organized educational activities to raise awareness of environmental issues among students and teachers[144]. Safety and Compliance - The company conducted safety and risk audits for 106 joint ventures in the 2017-2018 period, with nearly half receiving a "superior" rating of over 90 points[79]. - The overall safety performance of joint ventures improved significantly, with an 80% reduction in accident rates compared to 2009[79]. - The company emphasizes customer safety and regularly conducts safety inspections to ensure the safe operation of gas installations and equipment[80]. - The company has established a comprehensive quality management system to monitor all critical distribution and storage facilities, ensuring compliance with international standards[168].