Financial Performance - The group recorded revenue of HKD 872.0 million for the first half of 2024, a decrease of 26.8% compared to HKD 1,191.5 million in the first half of 2023[1]. - Profit attributable to shareholders increased by 71.2% to HKD 55.3 million, up from HKD 32.3 million in the same period last year[1]. - EBITDA for the first half of 2024 was HKD 168.7 million, a decrease of 2.8% from HKD 173.6 million in the first half of 2023[1]. - The group reported a total comprehensive income of HKD 24.6 million for the first half of 2024, a significant improvement from a loss of HKD 63.1 million in the same period last year[3]. - Total revenue for the six months ended June 30, 2024, was HKD 871,956,000, a decrease of 26.8% from HKD 1,191,450,000 for the same period in 2023[15]. - The total segment profit for the six months ended June 30, 2024, was HKD 136,436,000, compared to HKD 114,982,000 for the same period in 2023, indicating an increase of 18.6%[15]. - The pre-tax profit for the six months ended June 30, 2024, was HKD 53,816,000, compared to HKD 46,590,000 for the same period in 2023, reflecting an increase of 15.0%[19]. - The company reported a total gas sales volume of 263.4 million cubic meters for the first half of 2024, down 20.2% from 329.9 million cubic meters in the same period of 2023[30]. - Gross profit for the first half of 2024 was HKD 16.7 million, down 62.5% from HKD 44.6 million in the same period of 2023, resulting in a gross margin of 1.9%[30]. - The company's attributable profit for the first half of 2024 was HKD 55.3 million, an increase of 71.2% compared to HKD 32.3 million in the first half of 2023[30]. Dividends and Earnings Per Share - Basic and diluted earnings per share for the first half of 2024 were both HKD 0.24, compared to HKD 0.14 in the same period last year[1]. - The board of directors did not recommend the declaration of an interim dividend for the first half of 2024, consistent with the previous year[1]. - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[22]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 4,042.2 million, an increase from HKD 3,823.8 million as of December 31, 2023[4]. - Current liabilities totaled HKD 2,327.6 million as of June 30, 2024, compared to HKD 2,284.3 million at the end of 2023[5]. - Net assets attributable to shareholders increased to HKD 1,650.5 million from HKD 1,625.9 million at the end of 2023[5]. - As of June 30, 2024, the group's current liabilities net amount is approximately HKD 1,190.2 million, indicating sufficient available funds for continued operations[7]. - Total liabilities to total assets ratio was 68.1% as of June 30, 2024, slightly up from 68.0% as of December 31, 2023[55]. - The net debt ratio improved to 136.8% as of June 30, 2024, down from 141.9% as of December 31, 2023[55]. - The group maintained a current ratio of 0.49 as of June 30, 2024, compared to 0.55 as of December 31, 2023[55]. Business Operations and Segments - The group operates three main business segments: urban gas operations, natural gas trading and distribution, and integrated clean energy and new energy development[11]. - The group has commenced the development and operation of integrated clean energy and new energy businesses, marking a new operational segment[11]. - The natural gas business experiences seasonal fluctuations, with higher demand typically observed in the second half of the year due to winter heating needs[10]. - The gas operation segment generated revenue of HKD 528,900,000, down from HKD 540,330,000, while the natural gas trading and distribution segment saw a significant decline to HKD 341,714,000 from HKD 651,120,000[15]. - The group added 15,561 new gas connection users in the first half of 2024, bringing the total number of users to 551,846[34]. - The group signed a long-term gas supply agreement with Beijing Gas Group, ensuring stable gas supply from January 1, 2024, to December 31, 2026[35]. Financing and Investments - The company completed the acquisition of a 49% stake in Beijing Unait Energy Engineering Technology Co., Ltd. for RMB 41,650,000 (approximately HKD 45,737,000) on July 3, 2024[26]. - The company has a capital commitment of HKD 57,790,000 as of June 30, 2024, compared to HKD 45,960,000 as of December 31, 2023[27]. - The group issued convertible bonds totaling HKD 300 million, maturing on December 28, 2025[52]. - The group has utilized 100% of the funds raised from the capital increase and asset injection plan for repaying existing bank loans and related interests[58]. - The company is appealing a civil judgment requiring it to pay RMB 25,088,000 related to a lawsuit, with the appeal scheduled for September 5, 2024[26]. Sustainability and Future Plans - The company aims to increase its clean low-carbon energy business in response to the rapid development of the energy storage market, which has seen a growth of over 40% in installed capacity compared to the end of 2023[29]. - The company is focusing on the green low-carbon transition, with non-fossil energy consumption expected to reach 18.9% of total energy consumption by 2024[29]. - The company is focusing on expanding its energy storage business, particularly in East and South China, with the Yangzhou project entering the construction phase[39]. - The company received the "ESG Environmentally Friendly Excellence Enterprise" award, reflecting its commitment to sustainable development[40]. Corporate Governance - The board is committed to high standards of corporate governance and has adopted practices in line with the corporate governance code[70]. - The audit committee has reviewed the accounting principles and discussed risk management and internal controls for the first half of 2024[68].
北京燃气蓝天(06828) - 2024 - 中期业绩