电能实业(00006) - 2019 - 中期财报

Financial Performance - The group's unaudited profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3,791 million, a decrease of 8% compared to HKD 4,120 million in the same period of 2018[4]. - Earnings per share for the first half of 2019 was HKD 1.78, down 8% from HKD 1.93 in the previous year[4]. - The group's total revenue for the six months ended June 30, 2019, was HKD 665 million, down from HKD 769 million in 2018, representing a decrease of approximately 13.5%[26]. - The operating profit for the same period was HKD 1.033 billion, an increase from HKD 852 million in 2018, reflecting a growth of about 21.3%[26]. - The profit attributable to shareholders for the six months ended June 30, 2019, was HKD 3.791 billion, compared to HKD 4.120 billion in 2018, indicating a decline of approximately 8%[27]. - The pre-tax profit for the six months ended June 30, 2019, was 2,844 million, down from 3,827 million in the same period of 2018, representing a decline of 25.7%[43]. - The total comprehensive income for the six months ended June 30, 2019, was HKD 3,479 million, compared to HKD 4,728 million in the same period of 2018[30]. - Adjusted profit before tax for the six months ended June 30, 2019, was HKD 3,827 million, a decrease from HKD 4,169 million in the same period of 2018, representing a decline of 8.2%[50]. Dividends - The interim dividend declared is HKD 0.77 per share, consistent with the previous year[12]. - The company declared an interim dividend of HKD 1,643 million for the period, compared to HKD 17,139 million in the previous year[30]. - The interim dividend declared for the six months ended June 30, 2019, was HKD 1,643 million, unchanged from the same period in 2018[59]. - The company declared an interim dividend of HKD 0.77 per share, payable on September 10, 2019[83]. Investments and Projects - The group is investing in innovation and technology to reduce carbon emissions, collaborating with government and academic institutions on various projects[13]. - The Northern Gas Networks in the UK is conducting a pilot project to integrate hydrogen and natural gas networks, while Australia’s Australian Gas Networks is working on a hydrogen energy zone project[13]. - The group aims to enhance gas-fired power generation capacity to significantly reduce carbon emissions[14]. - The group plans to increase the proportion of gas-fired power generation to approximately 70% by 2023 in Hong Kong[16]. - The construction of the first gas unit (L10) is nearing completion and is expected to be operational in early 2020[16]. Financial Position - The market capitalization as of June 30, 2019, was HKD 119.946 billion[9]. - The group’s bank deposits and cash as of June 30, 2019, were HKD 3.880 billion, down from HKD 5.229 billion as of December 31, 2018[21]. - As of June 30, 2019, the group's net cash level was HKD 479 million, a decrease from HKD 1.792 billion on December 31, 2018[22]. - The company's cash and cash equivalents decreased to HKD 2,068 million as of June 30, 2019, down from HKD 3,907 million a year earlier[32]. - The net asset value as of June 30, 2019, was HKD 82,679 million, a decrease from HKD 83,557 million at the end of 2018[30]. - The company’s total liabilities decreased to HKD 4,349 million from HKD 4,072 million as of December 31, 2018[28]. - The total assets of joint ventures as of June 30, 2019, were 130,342 million, an increase from 127,200 million as of December 31, 2018, representing a growth of 1.7%[47]. - The group’s total equity attributable to shareholders was 56,873 million as of June 30, 2019, compared to 55,697 million as of December 31, 2018, reflecting an increase of 2.1%[47]. Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations[64]. - The audit committee reviewed the effectiveness of the risk management and internal control systems as of June 30, 2019, and deemed them effective and adequate[71]. - The company is committed to maintaining high standards of corporate governance to attract investors and protect shareholder interests[64]. - The company’s nomination committee was established on January 1, 2019, and is composed of all directors, deviating from the code's requirements[64]. - The company’s secretary ensures compliance with all relevant laws and regulations, including the listing rules and corporate governance developments[66]. - The company established a Nomination Committee on January 1, 2019, chaired by Mr. Ho Kwan Ning, to review the board's structure and diversity[72]. - The Remuneration Committee, formed on January 1, 2005, consists of three members, two of whom are independent non-executive directors, and is responsible for reviewing the remuneration policies for directors and senior management[73]. - The Audit Committee, established on January 1, 1999, is composed of three independent non-executive directors and oversees financial reporting, risk management, and internal control systems[74]. Shareholder Information - Major shareholders include Hyford Limited holding 767,499,612 shares, representing 35.96% of the total equity[81]. - The company has established multiple communication channels with shareholders, including annual general meetings and reports[75]. - The company’s communication policy aims to facilitate effective communication with shareholders[76]. - The company’s board of directors and senior management have disclosed their interests in shares and related securities as required by the Securities and Futures Ordinance[80]. - The company’s Audit Committee regularly meets with external auditors to discuss audit procedures and accounting matters[74].