北京控股(00392) - 2024 - 中期财报

Financial Performance - For the first half of 2024, Beijing Holdings Limited reported a consolidated revenue of RMB 42.32 billion, with a profit attributable to shareholders of RMB 3.15 billion, representing a year-on-year decrease of 8.1% after excluding one-off items from the previous year[19]. - The overall profit of the group, after accounting for non-controlling interests, was RMB 3.87 billion[20]. - The group's operating revenue for the first half of 2024 was approximately RMB 42.32 billion, a slight decrease of 0.6% compared to the same period last year[49]. - The group's net profit attributable to shareholders for the first half of 2024 was RMB 3.15 billion, a decrease of 23% year-on-year, or an 8.1% decrease when excluding one-time factors from the previous year[57]. - The total comprehensive income for the period was RMB 3,876,792, compared to RMB 5,075,221 in the prior year, reflecting a decrease of 23.6%[72]. - The group reported a pre-tax profit of RMB 4,467,467, down 15.4% from RMB 5,276,185 in the same period last year[68]. - The group’s pre-tax profit for the six months ended June 30, 2024, was RMB 3,149,443,000, a decrease from RMB 4,090,917,000 for the same period in 2023, representing a decline of approximately 22.9%[143]. Business Segment Contributions - The after-tax profit contributions from various business segments were as follows: Gas business contributed RMB 2.80 billion (58.0%), Water business RMB 461.5 million (9.6%), Environmental business RMB 654.2 million (13.6%), and Beer business RMB 911.5 million (18.8%)[20]. - Beijing Gas recorded a revenue of RMB 30.66 billion for the first half of 2024, a decrease of 2.9% year-on-year, with a pre-tax profit of RMB 2.56 billion[24]. - The environmental business segment contributed RMB 654.2 million to the after-tax profit, indicating a significant role in the company's overall performance[20]. - Beijing Yanjing Beer recorded beer sales of 2.3049 million kiloliters, a year-on-year increase of 0.65%, with operating revenue of RMB 7.13 billion, up 5.0%[39]. - The environmental business segment achieved a waste processing volume of 3.6181 million tons, a year-on-year increase of 7.6%, with revenue from domestic environmental projects decreasing by 20.6% to RMB 1.15 billion[38]. Cash Flow and Dividends - The interim cash dividend declared is HKD 0.85 per share, down from HKD 0.93 per share in the same period last year, to be paid on November 1, 2024[19]. - The operating cash flow of China Gas increased by 13.1% to HKD 11.34 billion, with free cash flow rising significantly by 70.2% to HKD 4.29 billion[33]. - The company reported a net cash flow from operating activities of RMB 4,026,276,000 for the six months ended June 30, 2024, compared to RMB 2,307,043,000 for the same period in 2023, representing an increase of approximately 75%[91]. - The company generated operating cash of RMB 4,694,913,000 during the first half of 2024, compared to RMB 2,961,468,000 in the same period of 2023, reflecting a significant increase of approximately 58%[91]. Assets and Liabilities - Total assets as of June 30, 2024, reached RMB 216,145,970, an increase of 5.8% from RMB 204,454,706 at the end of 2023[76]. - Total liabilities increased to RMB 51,628,193,000 as of June 30, 2024, from RMB 49,705,000,000 as of December 31, 2023, indicating a rise in financial obligations[88]. - Non-current liabilities increased to RMB 26,630,789, up 20.1% from 22,174,394 at the end of 2023[85]. - The company’s total liabilities increased to RMB 120,234,505 as of June 30, 2024, compared to RMB 111,405,341 as of December 31, 2023[125]. Cost Management and Efficiency - The company is focusing on cost reduction and efficiency improvement across its business segments while maintaining stable operational development amid a complex external environment[23]. - The overall gross margin increased to 15.7% from 14.8% in the previous year, primarily due to effective cost control in the beer business[51]. - Sales and distribution expenses increased by 19.3% to RMB 1.09 billion, mainly due to increased costs in the beer business[53]. Financing and Investment - The company incurred a net cash outflow from investing activities of RMB 6,721,723,000 for the six months ended June 30, 2024, compared to RMB 4,925,771,000 in the prior year, indicating an increase in investment expenditures[91]. - The company issued a total of RMB 4 billion in technology innovation bonds in July and August 2024, indicating a strategy to enhance liquidity and manage debt obligations[102]. - The company plans to use the proceeds from the bond issuance to repay existing bank loans, indicating a focus on debt management[185]. Market and Strategic Initiatives - The company aims to accelerate the transformation and incubation of new productive forces to adapt to changing market conditions[23]. - Beijing Gas plans to expand its LNG distribution market and enhance its processing business in the second half of 2024[42]. - China Gas aims to improve its gross margin levels and expand its comprehensive energy business while responding to the national green economy initiative[43]. Shareholder Information - The company declared an interim dividend of HKD 0.85 per share, down from HKD 0.93 per share in 2023, reflecting a decrease of approximately 8.6%[189]. - 京泰实业（集团）有限公司持有4,615,000普通股，占公司已发行股份总数的0.37%[197]. - 北京控股集团有限公司持有786,582,788普通股，占公司已发行股份总数的62.53%[197].