Financial Performance - The group's profit for the six months ended June 30, 2023, was approximately HKD 371,509,000, compared to HKD 272,476,000 for the same period in 2022, representing a significant increase[43]. - For the six months ended June 30, 2023, the company's total revenue was approximately HKD 1,179,400,000, representing a decrease of 7.8% compared to the previous year[71]. - The profit attributable to the company's owners for the same period was HKD 81,788,000, a significant increase from HKD 9,955,000 in the prior year[68]. - The company reported a net profit of HKD 478,537,000 for the six months ended June 30, 2023, compared to HKD 426,243,000 in the same period last year[68]. - The total profit for the period was HKD 482,313,000, compared to HKD 371,944,000 in the same period last year[68]. - Net profit attributable to the company's owners was HKD 374,996,000, a significant increase compared to the previous period's profit of HKD 61,152,000[81]. - The company reported a pre-tax profit of HKD 499,395,000, with a tax expense of HKD 20,858,000, resulting in a net profit after tax of HKD 478,537,000[81]. - The company recorded a comprehensive income of HKD 253,123,000 for the period, contrasting with a comprehensive loss of HKD 713,201,000 in the previous period[97]. Revenue Breakdown - Revenue from the water supply company was approximately HKD 153,000,000, remaining stable compared to the previous year, while profit increased from HKD 11,100,000 to approximately HKD 17,300,000, a rise of 55.8%[55]. - Revenue from the thermal power company decreased by 12.1% to approximately HKD 703,300,000, with profit dropping 33% to about HKD 17,500,000 due to reduced government subsidies and lower steam sales[56]. - The hotel segment reported an increase in revenue to approximately HKD 60,400,000, with profit rising from HKD 3,200,000 to HKD 12,200,000, reflecting improved occupancy rates from 68.2% to 80.8%[60]. - The revenue from the pharmaceutical segment was approximately HKD 738,000,000, remaining stable compared to the previous year, while the profit from this segment increased by 35.7% to HKD 79,400,000[72]. - Revenue from public utilities (water and heat supply) amounted to HKD 856,295,000, while pharmaceutical manufacturing and sales generated HKD 833,390,000[155]. Cash Flow and Investments - The net cash inflow from trading investments during the interim period was HKD 150,249,000, compared to a net cash outflow of HKD 92,422,000 for the same period last year[6]. - The net cash used in operating activities was HKD (960,310) thousand, compared to HKD 295,748 thousand in the previous year, indicating a significant decline[128]. - The net cash used in investing activities was HKD (332,296) thousand, down from HKD 562,203 thousand in the previous year, indicating reduced investment outflows[128]. - The company invested HKD 54,068,000 in property, plant, and equipment during the reporting period to expand its business[179]. Assets and Liabilities - The company’s total assets increased to HKD 21,535,021,000 as of June 30, 2023, compared to HKD 21,266,227,000 at the end of the previous year[99]. - Total liabilities amounted to HKD 4,936,181, an increase from HKD 4,836,947 in the previous audited period[1]. - The company’s equity attributable to shareholders increased to HKD 12,015,986 thousand, reflecting a growth in retained earnings[125]. - The company has a total of HKD 799,431,000 in accounts payable as of June 30, 2023, compared to HKD 842,894,000 in the previous year[11]. Strategic Initiatives - The company is focusing on market expansion and strategic investments in utilities and pharmaceuticals, aiming to enhance its competitive position[94]. - Future outlook includes continued investment in new technologies and product development to drive growth across various segments[94]. - The company is exploring potential mergers and acquisitions to further strengthen its market presence and operational capabilities[94]. - The company is taking a cautious approach towards the hydropower equipment business due to a slowdown in the industry and is considering restructuring options[61]. Shareholder Returns - The company declared dividends amounting to HKD (59,002) thousand, compared to HKD (30,117) thousand in the previous year, indicating a higher return to shareholders[126]. - The company declared an interim dividend of HKD 0.0345 per share, totaling approximately HKD 37,011,000[178]. Market Capitalization and Securities - As of June 30, 2023, the market capitalization of listed securities was HKD 116,344,000, while non-listed securities amounted to HKD 1,462,208,000[1]. - The fair value of financial assets measured at fair value on a recurring basis was HKD 1,338,889,000 as of June 30, 2023, up from HKD 1,072,316,000[13]. - The expected return rate on trust deposits in China remained stable between 6.0% and 7.3%[189].
天津发展(00882) - 2023 - 中期财报