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 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]
亚太卫星(01045) - 2023 - 中期业绩