Financial Performance - For the six months ending June 30, 2023, the company achieved a revenue of HKD 4.716 billion, representing a growth of 23.9% compared to the previous year[9]. - The profit attributable to shareholders was HKD 437 million, an increase of 35.7% year-on-year[9]. - Earnings per share reached HKD 0.1936, reflecting a year-on-year growth of 29.9%[9]. - The total revenue for the six months ended June 30, 2023, was HKD 4.716 billion, an increase of 23.9% compared to HKD 3.806 billion for the same period in 2022[18]. - The profit attributable to shareholders for the same period was HKD 437 million, up 35.7% from HKD 322 million in 2022[18]. - The earnings per share increased to HKD 0.1936, representing a 29.9% rise from HKD 0.1490 in the previous year[18]. - Gross profit for the first half of 2023 was HKD 675.4 million, compared to HKD 535.7 million in the prior year, indicating a gross margin improvement[33]. - The net profit for the period was HKD 430.3 million, an increase from HKD 317.8 million in the previous year, marking a growth of 35.3%[34]. - The pre-tax profit for the period was HKD 498,187,000, compared to HKD 373,093,000 in the previous year, reflecting a growth of 33.6%[49]. Dividends - The company declared an interim dividend of HKD 0.055 per share, considering its profitability and cash flow levels[9]. - The company declared an interim dividend of HKD 0.055 per share for the period ending June 30, 2023, compared to HKD 0.041 per share for the same period in 2022[68]. - The company declared an interim dividend of HKD 0.055 per share, totaling approximately HKD 124,055,000, compared to HKD 0.041 per share and HKD 92,477,000 in the previous year[52]. Revenue Segments - The curtain wall engineering segment's revenue rose to HKD 3.648 billion, a 25.8% increase from HKD 2.899 billion in 2022[19]. - The revenue from the curtain wall engineering segment was HKD 3,647,654,000, up 26% from HKD 2,899,023,000 in 2022[45]. - The total new contract value signed was HKD 6.623 billion, achieving 55.2% of the annual target of at least HKD 12 billion[24]. - The total contract value on hand as of June 30, 2023, was approximately HKD 29.978 billion, with uncompleted contracts amounting to HKD 15.310 billion[24]. Operational Strategy - The company focused on expanding its market presence in Hong Kong and Macau while strategically reducing overseas operations[10]. - The company secured multiple large-scale facade projects in Hong Kong, including the Kai Tak Emergency Hospital and Prince of Wales Hospital[11]. - In mainland China, the company adopted a differentiated strategy, winning several significant facade projects such as the Huawei Guangzhou R&D Center and the Chengdu Lotte Plaza[11]. - The company launched the Light-A series of photovoltaic facade products, significantly improving performance compared to previous models[11]. - The company is actively transforming its operations management business, successfully winning project management contracts in Shenzhen[13]. - The company is enhancing its energy efficiency in heating services through smart control systems, significantly reducing coal and water consumption[13]. - The group continues to focus on urban development management and consulting services, engineering consulting services, and providing funding for infrastructure projects[43]. Financial Position - The group’s financial expenses increased to HKD 33 million due to reduced interest capitalization and rising interbank rates, a 97% increase excluding capitalization factors[23]. - The net gearing ratio as of June 30, 2023, was approximately 30.8%, up from 17.6% at the end of 2022[26]. - As of June 30, 2023, the equity attributable to shareholders was HKD 2.473 billion, an increase from HKD 2.092 billion as of December 31, 2022, representing a growth of approximately 18.2%[29]. - Total assets as of June 30, 2023, were HKD 11.122 billion, compared to HKD 10.300 billion at the end of 2022, representing an increase of 7.9%[35]. - The total liabilities increased to HKD 7.532 billion as of June 30, 2023, from HKD 6.712 billion at the end of 2022, indicating a rise of 12.2%[36]. - The company reported a decrease in cash and cash equivalents to HKD 645.0 million from HKD 974.8 million, a decline of approximately 33.7%[35]. - The group's total reserves increased to HKD 2,450,583 thousand as of June 30, 2023, compared to HKD 2,129,533 thousand on June 30, 2022[37]. Cash Flow - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (258,471) thousand, an improvement from HKD (291,483) thousand in the same period of 2022[38]. - The net cash used in investing activities was HKD (24,039) thousand, compared to HKD (35,346) thousand in the previous year, indicating a reduction in cash outflow[38]. - The net cash used in financing activities was HKD (17,324) thousand, a significant decrease from HKD 153,164 thousand in the same period last year[38]. - The total cash and cash equivalents at the end of the period were HKD 645,028 thousand, down from HKD 810,621 thousand as of June 30, 2022[38]. Shareholder Information - As of June 30, 2023, the total issued share capital of the company is 2,255,545,000 ordinary shares with a par value of HKD 0.01 each[70]. - Major shareholder 加寶控股有限公司 holds 1,596,403,279 shares, representing 70.78% of the issued shares[76]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2023[78]. - The board of directors confirmed compliance with the securities trading standards during the reporting period[79]. Compliance and Governance - The audit committee, composed of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2023[80]. - The group has not reported any significant impact on its performance and financial position from the newly adopted accounting standards[41]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and are presented in Hong Kong dollars[39].
中国建筑兴业(00830) - 2023 - 中期财报