港通控股(00032) - 2024 - 中期财报

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 470,185,000, an increase of 14.4% compared to HKD 410,955,000 for the same period in 2023[5] - Operating profit for the same period was HKD 303,173,000, up 32.3% from HKD 229,113,000 in 2023[5] - Profit attributable to equity shareholders from continuing operations was HKD 231,970,000, representing a 32% increase from HKD 175,929,000 in the previous year[5] - The company reported a profit of HKD 235,172,000, compared to HKD 422,658,000 for the same period in 2023, representing a decrease of approximately 44.4%[20] - Total comprehensive income for the six months ended June 30, 2024, was HKD 236,178,000, down from HKD 420,212,000 in the previous year, indicating a decline of about 43.7%[20] - Reported segment revenue for the six months ended June 30, 2024, was HKD 469,897,000, an increase of 14.5% compared to HKD 410,004,000 in 2023[39] - Reported segment profit before tax for the same period was HKD 326,788,000, up 23.9% from HKD 263,546,000 in 2023[40] Earnings and Dividends - The company reported a basic and diluted earnings per share of HKD 0.63, down from HKD 1.13 in the same period last year[5] - The company declared dividends of HKD 22,361,000 during the current fiscal year, consistent with the previous year[20] - The company declared an interim dividend of HKD 0.06 per share for the first quarter, totaling HKD 22,361,000, consistent with the previous year[66] Assets and Liabilities - Total assets less current liabilities as of June 30, 2024, were HKD 7,806,255,000, compared to HKD 7,686,853,000 at the end of 2023[14] - The net asset value increased to HKD 7,573,276,000 from HKD 7,413,033,000 at the end of 2023[14] - The company’s total liabilities decreased to HKD 730,837,000 from HKD 828,992,000 at the end of 2023[11] - The company’s cash and cash equivalents amounted to HKD 2,677,142,000, a decrease from HKD 2,764,791,000 at the end of 2023[11] - As of June 30, 2024, total equity attributable to shareholders was HKD 7,339,557,000, an increase from HKD 7,168,722,000 as of June 30, 2023, representing a growth of about 2.4%[20] Cash Flow and Investments - The company’s cash and cash equivalents decreased by HKD 83,045,000 during the six months ended June 30, 2024, compared to an increase of HKD 336,439,000 in the same period of 2023[23] - Operating cash flow for the six months ended June 30, 2024, was HKD 9,139,000, significantly lower than HKD 30,996,000 for the same period in 2023, reflecting a decline of approximately 70.6%[23] - The company reported a decrease in cash generated from investment activities, totaling HKD 72,235,000 for the six months ended June 30, 2024, compared to HKD 413,646,000 in the same period of 2023[23] - The company incurred financial costs of HKD 9,358,000, which is an increase of 52.5% compared to HKD 6,143,000 in 2023[40] Segment Performance - Revenue from driving school operations increased to HKD 379,908,000 in 2024 from HKD 320,574,000 in 2023, reflecting a growth of 18.5%[30] - The group’s revenue from electronic road tolling services decreased by 75.0% in the first half of 2024, primarily due to the full implementation of the EasyPass system starting January 2024[96] - The financial management segment recorded a net profit of HKD 169.3 million in the first half of 2024, significantly up from the previous year, with fair value gains from financial assets contributing HKD 116.8 million[101] Economic Environment - Hong Kong's GDP grew by 2.7% and 3.3% in the first and second quarters of 2024, respectively, compared to a growth rate of 4.3% in the fourth quarter of 2023[92] - The total value of goods exported and imported in the first five months of 2024 increased by 12.5% and 7.4% year-on-year, respectively[92] - Retail sales in April and May 2024 decreased by 14.7% and 11.4% year-on-year, reflecting changes in consumer behavior[92] - The company anticipates that the business environment in Hong Kong will stabilize, with economic recovery expected to continue in the second half of 2024[92] Accounting and Compliance - The report is unaudited, but KPMG has conducted a review in accordance with the relevant standards[26] - The financial report is prepared in accordance with the applicable disclosure requirements of the Hong Kong Stock Exchange and the Hong Kong Financial Reporting Standards[28] - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period[28] - The interim report has been reviewed by the audit committee and KPMG, ensuring adherence to accounting principles and internal controls[134] Investment Portfolio - The group's investment portfolio includes 52 private equity funds as of June 30, 2024, down from 55 funds as of December 31, 2023[56] - The total fair value of non-listed funds held as of June 30, 2024, was HKD 2,959.7 million, accounting for 34.7% of total assets[112] - The total fair value of equity securities held was HKD 1,165.9 million, representing 13.7% of total assets[113] - The company has diversified its investment portfolio by investing in various non-listed funds across different industries and regions, while also selling interests in five non-listed funds and some US-listed equity securities to enhance financial resources for future investment opportunities[97]