Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 9,994,518, a decrease of 40.5% compared to HKD 16,771,559 for the same period in 2024[4] - The company reported a loss attributable to owners of the company of HKD 28,537, compared to a loss of HKD 27,018 in the prior year[5] - For the six months ended June 30, 2025, the company reported a net loss of HKD 28,537,000, compared to a net loss of HKD 27,018,000 for the same period in 2024[10] - The operating loss for the six months ended June 30, 2025, was HKD 10,451,000, compared to a loss of HKD 10,180,000 in the same period of 2024[30] - The company reported a decrease in accumulated losses to HKD 7,545,575,000 as of June 30, 2025, from HKD 7,596,941,000 at the beginning of the period[10] - The company reported a foreign exchange gain of HKD 76,831 for the period, compared to a loss of HKD 37,621 in the previous year[5] - The total comprehensive income for the period was HKD 48,984, compared to a loss of HKD 64,887 in the previous year[5] Assets and Liabilities - Non-current assets increased to HKD 1,990,953 as of June 30, 2025, from HKD 1,926,237 as of December 31, 2024[7] - Current assets rose to HKD 924,012, up from HKD 873,762 at the end of 2024[7] - Total liabilities increased to HKD 1,565,802 as of June 30, 2025, compared to HKD 1,499,820 at the end of 2024[8] - The total assets as of June 30, 2025, amounted to HKD 2,914,965,000, an increase from HKD 2,799,999,000 as of December 31, 2024[21] - The company's cash and bank balances decreased to HKD 240,015 from HKD 278,675[7] - The company had cash and cash equivalents of HKD 240,015,000 at the end of the period, down from HKD 256,887,000 at the end of June 2024[11] - The overdue accounts receivable over 90 days increased significantly to HKD 50,072,000 as of June 30, 2025, compared to HKD 22,455,000 as of December 31, 2024, representing a 123.5% increase[52] Cash Flow and Expenditures - Cash flow from operating activities showed a net outflow of HKD 158,023,000, a significant decrease from a net inflow of HKD 204,078,000 in the previous year[11] - The company incurred capital expenditures of HKD 1,184,000 for property, plant, and equipment, compared to HKD 22,034,000 in the previous year[11] - The company’s management compensation increased to HKD 8,857,000 for the six months ended June 30, 2025, compared to HKD 7,476,000 in the same period of 2024[76] Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2025, consistent with the previous year[35] - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the previous year[135] - As of June 30, 2025, the major shareholder, 延长石油集团, held 634,310,161 shares, representing 57.66% of the total issued ordinary shares[142] Operational Highlights - Average daily production in Canada was 1,216 barrels of oil and 2,250 thousand cubic feet of gas, with a total net production of 263,000 barrels of oil equivalent, representing a 37% year-on-year decrease[85][80] - The group achieved natural gas sales of 58,700 equivalent barrels, reaching 97% of its target despite challenges from third-party pipeline pressures[86] - The company is focusing on fine management of oil fields to enhance economic efficiency and has implemented 52 various production enhancement measures, increasing daily production by 103 barrels[89] - Novus achieved oil and gas sales volume of 263,010 equivalent barrels, generating revenue of HKD 94,132,000, a decrease from 456,989 equivalent barrels and HKD 189,103,000 in the same period last year, representing a decline of approximately 42.5% in sales volume and 50% in revenue[101] Compliance and Governance - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and policies adopted by the company for the six months ended June 30, 2025[148] - The company has no significant contingent liabilities as of June 30, 2025[74] - The company has adopted new or revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial results for the current or prior periods[15]
延长石油国际(00346) - 2025 - 中期财报