Financial Performance - Revenue for the six months ended June 30, 2021, was HK$202,564,000, compared to HK$0 for the same period in 2020[13] - Profit for the period was HK$47,331,000, a significant increase from a loss of HK$30,536,000 in the same period of 2020[14] - Total comprehensive income for the period was HK$60,810,000, compared to a loss of HK$59,065,000 in the previous year[14] - Basic and diluted earnings per share were both HK$0.51, compared to a loss of HK$0.31 per share in 2020[14] - The company reported a profit of HK$48,061,000 for the period, compared to a loss in the previous period[26] - Total comprehensive income for the period was HK$61,428,000, reflecting a significant recovery from previous losses[26] - Revenue from external customers for the six months ended June 30, 2021, was HK$202,564,000, a significant increase from HK$72,174,000 in the same period of 2020, representing a growth of 180%[175] - The Group reported a profit attributable to owners of the Company of HK$48,061,000 for the six months ended 30 June 2021, compared to a loss of HK$29,297,000 in the same period of 2020, representing a significant turnaround[195] - Basic earnings per share increased to HK$0.51 for the six months ended 30 June 2021, compared to a loss per share of HK$0.31 for the same period in 2020[195] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HK$2,736,301,000, a slight decrease from HK$2,757,368,000 as of December 31, 2020[18] - Current liabilities decreased to HK$573,200,000 from HK$664,594,000, reflecting a reduction of approximately 13.8%[21] - Net current liabilities improved to HK$(259,437,000) from HK$(329,524,000), indicating a positive change of 21.2%[21] - Non-current assets totaled HK$2,422,538,000, showing a marginal increase from HK$2,422,298,000[18] - Net assets increased to HK$1,672,179,000 from HK$1,611,369,000, representing a growth of approximately 3.8%[21] - The Group's reportable segment assets as of 30 June 2021 totaled HK$2,603,270,000[58] - The reportable segment liabilities as of 30 June 2021 were HK$941,717,000[58] Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$78,182,000, a decrease of 30% from HK$111,830,000 in 2020[30] - Net cash used in investing activities was HK$45,111,000, significantly reduced from HK$146,851,000 in the previous year, indicating a 69% decrease[30] - Net cash used in financing activities amounted to HK$22,078,000, compared to HK$6,226,000 in 2020, reflecting a substantial increase[30] - Cash and cash equivalents at the end of the period were HK$180,653,000, compared to HK$194,198,000 at the end of the previous year[30] - The effect of foreign exchange rate changes on cash and cash equivalents was an increase of HK$1,675,000[30] - The Group's cash flow from operating activities showed a downward trend, which may impact future operational strategies[30] Operational Costs - The company incurred finance costs of HK$21,791,000 during the reporting period[13] - Direct costs amounted to HK$21,710,000, indicating a focus on managing operational expenses[13] - The Group's staff costs, including wages and salaries, increased to HK$9,021,000 for the six months ended 30 June 2021, compared to HK$8,736,000 in the same period of 2020[182] Investments and Development - The company is actively pursuing strategies for market expansion and new product development, although specific details were not provided in the content[17] - Exploration and evaluation assets rose to HK$113,813,000 from HK$97,172,000, marking an increase of approximately 17.2%[18] - The Group purchased property, plant, and equipment amounting to approximately HK$30,124,000 during the six months ended 30 June 2021, a decrease from HK$99,199,000 in the same period of 2020[198] - Exploration and evaluation assets purchased during the six months ended 30 June 2021 were approximately HK$15,818,000, down from HK$48,798,000 in the prior year[198] Segment Information - The reportable segment profit before income tax for the Exploration, Production and Distribution of Natural Gas segment was HK$83,534,000[58] - Interest income for the Exploration, Production and Distribution of Natural Gas segment was HK$586,000[58] - Interest expense for the same segment amounted to HK$17,043,000[58] - Amortization of intangible assets for the Group was HK$17,463,000[58] - Depreciation of property, plant, and equipment was HK$20,208,000[58] Compliance and Standards - The Group has adopted all new and revised Hong Kong Financial Reporting Standards effective from 1 January 2021[51] - The Directors anticipate that the application of new standards will not have a material impact on the unaudited condensed consolidated financial statements[51] Other Information - No dividend was paid or proposed for the six months ended 30 June 2021, consistent with the same period in 2020[191] - The weighted average number of ordinary shares in issue remained stable at 9,505,344,000 for both periods[195] - The pre-tax discount rates used for value in use calculations were 16.2% for the six months ended 30 June 2021 and 16.8% for the year ended 31 December 2020[198] - The Group's deferred tax charge for the six months ended 30 June 2021 was HK$27,042,000, a substantial increase from HK$2,775,000 in the prior year[187] - The major product driving revenue growth was natural gas, which accounted for the entire revenue of HK$202,564,000 for the six months ended June 30, 2021[175]
中能控股(00228) - 2021 - 中期财报