电能实业(00006) - 2023 - 中期业绩

Financial Performance - The group's unaudited profit for the six months ended June 30, 2023, was HKD 2.959 billion, an increase from HKD 2.871 billion in 2022, reflecting strong core business performance despite rising global interest rates and currency fluctuations [2]. - The group reported a revenue of HKD 662 million for the six months ended June 30, 2023, compared to HKD 598 million in the same period of 2022, representing an increase of approximately 10.7% [18]. - Operating profit for the same period was HKD 750 million, up from HKD 571 million in 2022, indicating a growth of about 31.4% [18]. - The net profit attributable to shareholders for the six months ended June 30, 2023, was HKD 2,959 million, compared to HKD 2,871 million in 2022, reflecting an increase of approximately 3.1% [18]. - The comprehensive income attributable to shareholders for the six months ended June 30, 2023, was HKD 5,783 million, compared to HKD 4,347 million in 2022, an increase of approximately 32.9% [19]. - The pre-tax profit for the six months ended June 30, 2023, was HKD 2,589 million, up from HKD 2,491 million in the same period of 2022, reflecting a 3.9% increase [27]. - The income tax expense for the six months ended June 30, 2023, was HKD 102 million, compared to HKD 98 million in the same period of 2022, indicating a 4.1% increase [28]. - Earnings per share for the six months ended June 30, 2023, was HKD 2.95, slightly up from HKD 2.87 in the same period of 2022 [29]. Dividends - The interim dividend declared is HKD 0.78 per share, unchanged from 2022, to be distributed on September 12, 2023 [3]. - The interim dividend declared for the six months ended June 30, 2023, was HKD 1,662 million, consistent with HKD 1,665 million in the same period of 2022 [32]. Operational Highlights - The UK operations contributed HKD 1.398 billion in profit, down from HKD 1.433 billion in 2022, impacted by regulatory resets and rising financing costs [4]. - In Hong Kong, the profit contribution from Power Assets was HKD 328 million, up from HKD 298 million in 2022, with electricity sales increasing by 3% due to warmer weather and economic recovery [6]. - The Australian operations generated a profit of HKD 558 million, down from HKD 671 million in 2022, affected by regulatory resets and unfavorable exchange rates [7]. - The group has installed over 303,000 smart meters in Hong Kong, enhancing its advanced metering infrastructure [6]. - The operating profit for the reported segments was HKD 750 million, up from HKD 660 million, indicating a growth of approximately 13.6% [24]. Investments and Future Plans - The group is investing in a new 380 MW gas generation unit expected to be operational in early 2024, as part of its development plan [6]. - The group plans to replace cast iron and unprotected steel pipelines with polyethylene pipes to improve safety and reduce gas leakage [8]. - The group is collaborating on projects to transition 2,000 properties from gas heating to hydrogen heating by 2025 in the UK [11]. - The group is focusing on long-term investments in the global energy market to build a sustainable business portfolio, including hydrogen integration in heating fuels [10]. - The group aims to continue seeking suitable investment opportunities globally while supporting government initiatives for net-zero carbon goals [12]. - The group plans to focus on optimizing strategies in response to regulatory changes in its main markets in the UK and Australia [12]. Financial Position - The group’s cash and bank deposits as of June 30, 2023, amounted to HKD 3,970 million, down from HKD 5,894 million as of December 31, 2022, a decrease of about 32.6% [13]. - The group’s net cash level as of June 30, 2023, was HKD 638 million, a significant decrease from HKD 2,658 million as of December 31, 2022, representing a decline of approximately 76.0% [14]. - The total amount of guarantees and indemnities made by the group as of June 30, 2023, was HKD 230 million, down from HKD 253 million as of December 31, 2022, a decrease of about 9.1% [16]. - As of June 30, 2023, the total assets amounted to HKD 91,496 million, an increase from HKD 87,647 million as of December 31, 2022, representing a growth of approximately 4.2% [20]. - The net current assets decreased significantly to HKD 539 million from HKD 2,842 million, indicating a decline of about 81% [20]. - The company's net assets increased to HKD 88,293 million from HKD 86,857 million, reflecting a growth of approximately 1.6% [20]. - The company’s investment in joint ventures and associates increased to HKD 61,212 million from HKD 57,331 million, reflecting a growth of approximately 6.6% [20]. - The cash and cash equivalents decreased to HKD 3,907 million from HKD 5,894 million, a decline of about 33.7% [20]. - The total assets of the group's joint ventures as of June 30, 2023, amounted to HKD 140,667 million, an increase from HKD 132,482 million as of December 31, 2022, representing a 6.5% growth [30]. Governance and Compliance - The company did not repurchase, sell, or redeem any of its listed securities during the six months ended June 30, 2023 [34]. - The company maintained compliance with the corporate governance code as stipulated in the Hong Kong Stock Exchange Listing Rules during the reporting period [34]. - All directors confirmed compliance with the standard code of conduct for securities transactions during the six months ended June 30, 2023 [35]. - The board of directors consists of 6 executive directors, 2 non-executive directors, and 5 independent non-executive directors [36].