北京控股(00392) - 2025 - 中期业绩

Financial Performance - The company's revenue for the first half of 2025 was approximately RMB 44.529 billion, representing a year-on-year increase of 5.2%[13] - The profit attributable to shareholders was approximately RMB 3.404 billion, an increase of 8.1% compared to the previous year[13] - The basic and diluted earnings per share were RMB 2.71[7] - For the six months ended June 30, 2025, the company reported operating revenue of RMB 44,528.87 million, an increase of 5.19% from RMB 42,324.60 million in the same period of 2024[15] - The gross profit for the same period was RMB 6,924.38 million, up from RMB 6,640.67 million, reflecting a gross margin of 15.55%[15] - The net profit attributable to shareholders for the six months was RMB 3,403.59 million, representing an increase of 8.06% compared to RMB 3,149.44 million in 2024[15] - The overall gross margin for the first half of 2025 was 15.55%, slightly down from 15.69% in the same period last year[56] - The group's attributable profit for the first half of 2025 was RMB 3.404 billion, an increase of 8.1% year-on-year[57] Business Segments - The company’s gas business generated revenue of RMB 3,256.4 million, a 6.20% increase from RMB 3,066.3 million in the previous year[14] - The beer business saw revenue growth of 3.72%, reaching RMB 739.4 million, with a significant increase in net profit margin to 43.64%[14] - The environmental business reported revenue of RMB 453.0 million, a slight increase of 0.82%, but experienced a decrease in net profit margin to 25.25%[14] - The gas business generated revenue of approximately RMB 32.564 billion, a year-on-year increase of 6.2%, while pre-tax profit remained stable at RMB 3.038 billion[54] - LNG trading revenue surged by 52.7% year-on-year to RMB 7.770 billion, driven by the full production of the Tianjin Nangang project[54] - The beer business reported revenue of RMB 7.394 billion, a 3.7% increase year-on-year, with pre-tax profit rising by 42.7% to RMB 1.541 billion due to improved cost management[55] Cash Flow and Financial Management - The operating cash flow and free cash flow significantly improved due to enhanced asset disposal and cost reduction efforts[7] - The company’s cash and cash equivalents stood at RMB 30,086.10 million, down from RMB 30,960.21 million at the end of 2024[18] - The company’s cash flow forecast indicates sufficient funds for ongoing operations despite a net current liability of RMB 11,041,058,000 as of June 30, 2025[21] - The group’s cash and bank deposits amounted to RMB 30.086 billion, a decrease of RMB 0.874 billion compared to the end of 2024, while maintaining ample cash resources[61] - The group’s financial expenses decreased by 10.6% year-on-year to RMB 1.083 billion, reflecting effective control over financing costs[57] - The company saved over RMB 100 million in interest expenses compared to the previous year by replacing high-cost debt with low-cost financing opportunities[85] Assets and Liabilities - Total assets as of June 30, 2025, amounted to RMB 216,487.27 million, an increase from RMB 209,752.12 million at the end of 2024[18] - The total liabilities amounted to RMB 114,852,993,000, compared to RMB 112,136,934,000 at the end of 2024, indicating a rise of about 2.4%[19] - As of June 30, 2025, the group's net current liabilities were RMB 11.041 billion, a decrease of RMB 1.048 billion compared to the end of 2024[67] - The asset-liability ratio was 44% as of June 30, 2025, compared to 45% at the end of 2024[68] Strategic Focus and Future Plans - The company plans to focus on enhancing operational quality and efficiency, optimizing capital operations, and promoting technological innovation and industrial upgrades in the second half of the year[69] - The group aims to strengthen its core business advantages in urban energy, water, environment, and consumption, while pursuing strategic opportunities for mergers and acquisitions[71] - Beijing Gas will further consolidate its advantages in the urban gas business and actively expand incremental markets[72] - The environmental business will focus on enhancing existing asset quality and efficiency, optimizing low-efficiency assets, and improving technological innovation capabilities[76] - Yanjing Beer aims to enhance cost control and optimize production efficiency while promoting product innovation and business expansion to improve market competitiveness[77] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.85 per share, payable in either HKD or RMB[7] - The company declared an interim cash dividend of HKD 0.85 per share for the fiscal year 2025, to be paid on October 31, 2025[78] Compliance and Governance - The company has complied with the Corporate Governance Code as per the Listing Rules Appendix C1 for the six months ending June 30, 2025[88] - The company has adopted the Securities Trading Standards Code as per the Listing Rules Appendix C3, ensuring all directors adhered to the trading standards during the reporting period[90] - The interim results announcement has been published on the company's website and the Hong Kong Stock Exchange website, with the interim report to be sent to shareholders at an appropriate time[91]