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]
亚太卫星(01045) - 2024 - 中期财报