香港中华煤气(00003) - 2023 - 中期业绩

Financial Performance - For the first half of 2023, the group reported a net profit of HKD 3.614 billion, an increase of 7% compared to the same period last year, with earnings per share at HKD 0.194[3]. - The group achieved a post-tax profit attributable to shareholders of HKD 1.115 billion in the first half of 2023, representing an increase of approximately 7.1% compared to the same period last year[13]. - The net profit for the period was HKD 4,319.5 million, up from HKD 4,056.5 million in the previous year, indicating an increase of about 6.5%[20]. - The total comprehensive income for the period was HKD 1,595.6 million, significantly higher than HKD 778.0 million in the previous year, marking an increase of approximately 104.0%[20]. - The group reported a total revenue of HKD 29,177.6 million for the first half of 2023, a decrease from HKD 29,721.0 million in the same period of 2022, representing a decline of approximately 1.8%[19]. - Adjusted EBITDA for the group was HKD 6,680.6 million, compared to HKD 6,522.7 million in the previous year, reflecting an increase of 2.4%[34]. Gas Sales and Customers - Total gas sales in Hong Kong reached 14,966 million megajoules, a slight increase of 0.6% year-on-year, driven by a 22% growth in industrial gas sales due to the recovery of the tourism and catering sectors[4][5]. - In mainland China, gas sales volume was approximately 17.454 billion cubic meters, representing a year-on-year increase of nearly 9%[2][4]. - The total gas sales volume for the public utility business was approximately 17.5 billion cubic meters, an increase of 8.7% year-on-year, with gas customers growing to over 38.56 million[7]. - The number of gas customers in Hong Kong increased to 2,005,023, up by 9,941 customers from the end of 2022[4][5]. Renewable Energy Initiatives - The renewable energy distributed photovoltaic business has progressed well, with 91 zero-carbon smart park projects developed, totaling over 2.20 GW of signed capacity[2]. - The group aims to achieve carbon neutrality by 2050, actively expanding renewable energy and hydrogen-related low-carbon businesses[14]. - The renewable energy business has developed high-quality projects across 22 provincial regions, with 91 zero-carbon smart parks under development as of June 30, 2023[13]. - The group signed contracts for over 2.20 GW of photovoltaic installed capacity and connected over 1.12 GW to the grid by June 30, 2023[13]. Strategic Developments - The group has established a gas sourcing business segment to enhance its gas supply chain and reduce costs, with a total gas storage capacity nearing 400 million cubic meters[8]. - The group has signed strategic cooperation agreements with public institutions in Jiangsu and Shandong provinces to promote energy-saving initiatives and green transformation[8]. - The group exited a 25% stake in Shanghai Gas Co., recovering RMB 4.663 billion, while continuing to strengthen strategic cooperation in gas resources and renewable energy[2]. - The group has established a clean energy research institute in Shenzhen, focusing on five key R&D areas: hydrogen energy, energy storage, energy digitalization, renewable energy, and energy efficiency[9]. Financial Position and Liabilities - As of June 30, 2023, the group's current liabilities net amount is approximately HKD 7 billion, primarily due to the utilization of HKD 18.5 billion in short-term borrowings[23]. - The group's net assets stood at HKD 71.6 billion, down from HKD 75.1 billion at the end of 2022, indicating a decrease of approximately 4.5%[22]. - The total equity of the group is HKD 71.6 billion, compared to HKD 75.1 billion in the previous period, reflecting a decline of about 4.5%[22]. - The group reported a deferred tax liability of HKD 42.0 billion as of June 30, 2023, compared to HKD 39.6 billion at the end of 2022, representing an increase of approximately 6.1%[22]. Investments and Capital Management - The group plans to invest in renewable energy projects and enhance energy management technology to provide comprehensive energy solutions, aligning with national green development goals[17]. - The group issued a total of HKD 24.91 billion in medium-term notes as of June 30, 2023, compared to HKD 24.07 billion as of December 31, 2022, reflecting an increase of approximately 3.5%[52]. - The group successfully raised RMB 1.5 billion through the issuance of panda bonds in June 2023, with an average interest rate of 3.27%[52]. - The group’s long-term bank loans amounted to HKD 10.93 billion as of June 30, 2023, compared to HKD 8.29 billion as of December 31, 2022[53]. Human Resources and Governance - The total number of employees in the Hong Kong gas business was 2,100 as of June 30, 2023, compared to 2,076 a year earlier, showing a slight increase in workforce[49]. - The group reported a human resources cost of HKD 619 million for the first half of the year, which is an increase of HKD 4 million compared to the same period last year[49]. - The group has complied with all provisions of the Corporate Governance Code as of June 30, 2023[57].