Company Overview - The group operates in 22 countries and regions, with nearly 2,500 employees and network nodes covering over 150 countries, connecting more than 600 operators and serving over 3,000 multinational enterprises and 40,000 local businesses[4]. - The group holds a 99% stake in Macau Telecom, which is a leading integrated telecom service provider in Macau, offering comprehensive telecom services including mobile, internet, fixed-line, data center, and enterprise ICT services[4]. - The group aims to become an internet-based telecom company, providing global communication and ICT services with a customer-centric approach[5]. - The group is focused on digital transformation projects and smart solutions, positioning itself as a trusted advisor for government and enterprise clients in the region[3]. - The group has established strategic partnerships, including a collaboration with Bank of China Macau Branch to launch a smart dining retail system[11]. Financial Performance - Total revenue for the first half of 2021 was HKD 4,795 million, an increase of 9.4% compared to HKD 4,384 million in the same period of 2020[20]. - The company's net profit attributable to shareholders was HKD 534 million, reflecting a growth of 4.3% from HKD 512 million year-on-year[20]. - EBITDA for the first half of 2021 was HKD 1,254 million, up 1.8% from HKD 1,232 million in the previous year[20]. - Telecom service revenue was HKD 3,993 million, a slight decrease of 0.8% from HKD 4,025 million in the same period last year[20]. - Mobile phone and equipment sales revenue surged over 100% to HKD 802 million, compared to HKD 359 million in the previous year[20]. Assets and Liabilities - Total assets as of June 30, 2021, were HKD 18,220 million, a decrease of 0.6% from HKD 18,337 million at the end of 2020[23]. - Total borrowings decreased by 3.4% to HKD 5,667 million from HKD 5,868 million[23]. - The net debt-to-equity ratio improved to 30% from 31% year-on-year[23]. - Cash and bank deposits totaled HKD 1.52 billion as of June 30, 2021, providing liquidity to cover upcoming debt obligations[68]. - The company maintained a cash balance sufficient to cover upcoming debt repayments of HKD 268 million due within the next year[70]. Market Share and Customer Base - In the first half of 2021, Macau Telecommunications achieved a 0.2% increase in broadband user numbers compared to the end of 2020, capturing approximately 97.1% market share in Macau's internet sector[29]. - The mobile market share of Macau Telecommunications rose by 1.0 percentage points to 45.4% compared to the end of 2020, while the 4G market share increased by 1.2 percentage points to 47.0%[29]. - The residential broadband customer fiberization rate improved to 95.9%, an increase of 1.2 percentage points from the end of 2020[29]. - The total user base as of June 30, 2021, exceeded 564,000, a decrease of approximately 29.6%, primarily due to a reduction in prepaid customers[45]. Dividends and Shareholder Returns - The company announced an interim dividend of HKD 0.055 per share, representing a 10.0% increase compared to the previous year's interim dividend[27]. - The company declared an interim dividend of HKD 0.055 per share, totaling HKD 202 million, compared to HKD 183 million for the same period in 2020, representing a 10.4% increase[128]. Technological Innovation - Acclivis Technologies and Solutions Pte. Ltd. won a pilot project with a major public healthcare institution in Singapore to implement a smart visitor management solution using AI video analysis[8]. - CPC's DataHOUSE™ AR remote operation and maintenance service won the "Telecom Industry Augmented Reality and Virtual Reality Project" award at the 2021 Singapore Business Review Excellence Technology Awards[11]. - CPC's CeOne-CONNECT Hybrid SD-WAN service received multiple awards, including the "2020 SD-WAN Outstanding Service Award" and "2020 SD-WAN Excellent Industry Application Award" from the SNAI Industry Alliance[11]. - The group has developed the world's first mobile data traffic trading platform, "DataMall Free Travel," and offers multi-number SIM cards as part of its innovative product offerings[3]. - The group continues to focus on technological innovation, integrating advanced technologies such as AI, IoT, and blockchain into its service offerings[30]. Cost Management - Financial costs decreased by 15.4% to HKD 132 million, down from HKD 156 million in the same period last year[39]. - Total operating costs for telecom services were HKD 2,012 million, a decrease of 3.6% from HKD 2,088 million in 2020[106]. - Employee costs increased to HKD 524 million, up 8.5% from HKD 483 million in 2020[107]. Corporate Governance and Compliance - The company has fully complied with the applicable code provisions of the Corporate Governance Code during the six months ended June 30, 2021, except for one instance of absence at the annual general meeting[161]. - The company has established credit policies to continuously monitor credit risks associated with trade receivables and contract assets[78]. Future Outlook - The company is actively integrating into national development plans and aims to expand its business areas and regions in line with the "14th Five-Year Plan" and the Greater Bay Area initiative[28]. - The group aims to expand its ICT business in Southeast Asia, leveraging the RCEP agreement to enhance its business scale in the region[32].
中信国际电讯(01883) - 2021 - 中期财报