Financial Performance - The revenue for the six months ended June 30, 2024, was HKD 19,854 million, an increase from HKD 18,512 million in the same period last year, representing a growth of 7.2%[2] - The gross profit for the same period was HKD 1,232 million, compared to HKD 1,269 million in the previous year, indicating a decrease of 2.9%[2] - The profit attributable to equity shareholders for the six months was HKD 783 million, down from HKD 844 million year-on-year, reflecting a decline of 7.2%[2] - The basic and diluted earnings per share for the period were HKD 0.294, compared to HKD 0.314 in the previous year, a decrease of 6.4%[3] - The total comprehensive income for the period was HKD 776 million, an increase from HKD 704 million in the same period last year, representing a growth of 10.2%[4] - Adjusted EBITDA for the reporting segments was HKD 1,188,651 thousand, compared to HKD 1,292,278 thousand in the previous year, indicating a decrease of 8.0%[16] - The reported segment profit before tax was HKD 939,260 thousand for 2024, down from HKD 1,073,030 thousand in 2023, indicating a decrease of 12.5%[16] - Profit attributable to equity shareholders for the first half of 2024 was approximately HKD 783 million, a decrease of about 7.34% from HKD 845 million in the same period of 2023[58] Revenue Breakdown - Coal sales generated HKD 16,858,477 thousand, up 19.9% from HKD 14,061,455 thousand year-on-year[12] - Supply chain integrated services revenue decreased to HKD 2,100,552 thousand, down 31.7% from HKD 3,072,510 thousand in the previous year[12] - Revenue from oil and petrochemical products was HKD 746,656 thousand, a decline of 32.5% compared to HKD 1,106,862 thousand in the prior year[12] - Revenue from iron ore was HKD 112,917 thousand, down 41.6% from HKD 194,140 thousand year-on-year[12] - The geographical revenue breakdown shows that revenue from China (including Hong Kong, Macau, and Taiwan) was HKD 14,942,943 thousand, an increase of 3.5% from HKD 14,430,553 thousand in 2023[12] - Revenue from Indonesia surged to HKD 1,835,536 thousand, up 83.7% from HKD 998,118 thousand in the previous year[12] - The supply chain trade segment generated revenue of approximately HKD 17,718 million, accounting for 89.24% of total revenue in the first half of 2024[47] - The revenue from the supply chain integrated services segment decreased by approximately 31.63% to HKD 2,101 million in the first half of 2024, down from HKD 3,073 million in the same period of 2023[48] Assets and Liabilities - The total assets less current liabilities amounted to HKD 9,775 million, up from HKD 9,456 million at the end of the previous year, indicating an increase of 3.4%[5] - The cash and cash equivalents as of June 30, 2024, were HKD 2,192 million, down from HKD 2,955 million at the end of 2023, a decrease of 25.9%[5] - Non-current assets totaled HKD 5,689 million, slightly up from HKD 5,668 million at the end of the previous year, reflecting a marginal increase of 0.4%[6] - The net current assets were HKD 4,086 million, an increase from HKD 3,787 million at the end of the previous year, indicating a growth of 7.9%[6] - Total bank loans as of June 30, 2024, amounted to approximately HKD 1,995 million, with a debt-to-asset ratio of 48.16%, down from 50.51% as of December 31, 2023[60] Cash Flow - In the first half of 2024, the net cash inflow from operating activities was approximately HKD 379 million, a significant decrease from HKD 1,716 million in the same period of 2023[67] - The net cash outflow from investing activities in the first half of 2024 was approximately HKD 748 million, compared to HKD 586 million in the same period of 2023[67] - The cash outflow from financing activities in the first half of 2024 was approximately HKD 379 million, slightly up from HKD 353 million in the same period of 2023[67] Dividends - The company declared an interim dividend of HKD 0.073 per share, totaling approximately HKD 196 million[2] - The company declared an interim dividend of HKD 0.073 per share for the first half of 2024, compared to HKD 0.078 per share for the same period in 2023, resulting in a total dividend payout of HKD 195,715 thousand[37] - The board has approved an interim cash dividend of HKD 0.073 per share, amounting to approximately HKD 196 million, expected to be distributed around January 16, 2025[82] Investments and Acquisitions - The group acquired properties, plants, and equipment amounting to HKD 121,136,000 for the six months ended June 30, 2024, compared to HKD 65,520,000 for the same period in 2023[26] - The company has entered into an agreement to acquire 70% of the issued share capital of Five Hills Investment Limited for a cash consideration of USD 77.9 million, which will make it a wholly-owned subsidiary[83] Employee and Training - As of June 30, 2024, the company employed 1,759 full-time employees, with 57% in freight driving roles in Mongolia[76] - The company conducted a total of 519 hours of training, with 4,830 participants across various training programs in the first half of 2024[78] Governance and Compliance - The company has complied with the corporate governance code, with the exception of a deviation regarding the separation of the roles of Chairman and CEO, which is justified by the board[84] - The audit committee has reviewed the interim results for the six months ending June 30, 2024, which were not audited but reviewed by KPMG[86] - The company has confirmed that all directors have adhered to the standards of the securities trading code during the six months ending June 30, 2024[85] Environmental, Social, and Governance (ESG) - The company emphasizes its focus on environmental, social, and governance (ESG) issues as part of its operational strategy[80] - The company has engaged an independent third party to consult on ESG matters and has published its 2023 ESG report[80]
易大宗(01733) - 2024 - 中期业绩