Financial Performance - The group recorded revenue of approximately HKD 25.411 billion for the six months ended June 30, 2023, an increase of about 6.1% compared to HKD 23.949 billion for the same period in 2022[2] - Profit attributable to shareholders for the six months ended June 30, 2023, was approximately HKD 1.934 billion, representing a growth of about 20.5% from HKD 1.605 billion in the prior year[2] - Basic and diluted earnings per share for the six months ended June 30, 2023, were approximately HKD 5.37, compared to HKD 4.46 for the same period in 2022[2] - The group reported a total comprehensive income of HKD 26.757 million for the six months ended June 30, 2023, compared to a loss of HKD 7.990 million in the same period of 2022[5] - The group's profit before tax for the six months ended June 30, 2023, was HKD 193,355,000, compared to HKD 160,483,000 for the same period in 2022, representing an increase of approximately 20.5%[41] Cash Flow and Liquidity - Net cash flow from operating activities for the six months ended June 30, 2023, was approximately HKD 2.884 billion, up from HKD 2.723 billion in the previous year[2] - Net cash flow from operating activities for the six months ended June 30, 2023, was HKD 288,390, compared to HKD 272,305 for the same period in 2022, representing an increase of approximately 5%[9] - Net cash flow used in financing activities was HKD (171,909) for the six months ended June 30, 2023, compared to HKD (42,164) in the previous year, indicating a significant increase in financing outflows[9] - The net decrease in cash and cash equivalents was HKD (262,127) for the first half of 2023, compared to HKD (89,108) in the same period of 2022, reflecting a worsening cash position[9] - Cash and cash equivalents at the end of the period stood at HKD 1,282,178, down from HKD 1,547,497 at the end of June 2022, marking a decrease of approximately 17%[9] Dividends - The interim cash dividend declared per share for the six months ended June 30, 2023, was HKD 1.2, compared to HKD 1.0 for the same period in 2022[2] - The interim dividend declared on August 25, 2023, was HKD 0.012 per share, totaling approximately HKD 43,200,000, compared to HKD 36,000,000 for the same period in 2022[45] Assets and Liabilities - The total assets as of June 30, 2023, amounted to HKD 8.312 billion, down from HKD 8.744 billion as of December 31, 2022[7] - Current liabilities decreased to HKD 1.898 billion as of June 30, 2023, from HKD 2.355 billion at the end of 2022[8] - The net asset value as of June 30, 2023, was HKD 4.041 billion, slightly down from HKD 4.058 billion at the end of 2022[8] - The total trade payables decreased to HKD 320,664,000 as of June 30, 2023, down from HKD 359,326,000 at the end of 2022, indicating a reduction of approximately 10.7%[58] - The total bank and other borrowings amounted to HKD 2,695,209,000 as of June 30, 2023, a decrease from HKD 2,807,862,000 in 2022[58] Revenue Breakdown - Environmental hygiene services revenue reached HKD 2,166,830, an increase of 12.7% from HKD 1,922,785 in the same period last year[25] - Hazardous waste treatment revenue was HKD 306,463, slightly up from HKD 302,134, reflecting a growth of 0.4%[25] - The group achieved a total revenue of approximately HKD 306.5 million from hazardous waste treatment services for the six months ended June 30, 2023, compared to HKD 302.1 million for the same period in 2022[86] - The group's revenue from the e-waste treatment business was approximately HKD 67.9 million for the six months ended June 30, 2023, down from HKD 170 million for the same period in 2022, accounting for about 2.7% of total revenue[80] Operational Highlights - The company continues to focus on expanding its environmental hygiene and hazardous waste treatment services in the Chinese market[27] - The number of environmental hygiene service projects remained stable at 152 as of June 30, 2023, with 16 new projects added and 16 terminated during the period[66] - The group has a total of 152 environmental hygiene service projects as of June 30, 2023, compared to 134 projects as of June 30, 2022[78] - The group won a total of 16 environmental hygiene service projects through public bidding, with a total contract value of approximately HKD 1.4 billion and estimated annual revenue of HKD 281 million[68] Cost and Expenses - The cost of goods sold decreased to HKD 199,016,000 from HKD 288,825,000, a reduction of about 30.9% year-on-year[37] - Total financing costs increased to HKD 68,402,000 from HKD 49,370,000, reflecting a rise of approximately 38.6%[37] - Administrative expenses rose to HKD 240.4 million for the six months ended June 30, 2023, compared to HKD 220.0 million in the same period of 2022[91] Strategic Initiatives - The group is advancing a five-year strategic plan focusing on "integrated governance services+" to enhance its response to external business demands[113] - The company aims to strengthen its core competitive capabilities through a "six-force system" and establish an ecological collaborative model for business growth[114] Corporate Governance - The company emphasizes maintaining high levels of corporate governance to enhance performance and ensure transparency and accountability[125] - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the six months ending June 30, 2023[137] - The interim results announcement will be published on the company's website and the Hong Kong Stock Exchange website[138] Employee and Workforce - The group employed 52,713 employees as of June 30, 2023, compared to 50,436 employees as of June 30, 2022, with total employee costs amounting to approximately HKD 1.301 billion for the six months ended June 30, 2023, up from HKD 1.0407 billion in the prior year[120]
北控城市资源(03718) - 2023 - 中期业绩