载通(00062) - 2025 - 中期财报

Financial Performance - For the six months ended June 30, 2025, the group reported a profit attributable to shareholders of HKD 285.1 million, up from HKD 120.3 million in the same period last year, representing an increase of 137.5%[3] - Basic earnings per share increased to HKD 0.56 from HKD 0.24, reflecting a growth of 133.3% year-on-year[3] - Revenue for the six months ended June 30, 2025, was HKD 4,226.3 million, an increase of 4.0% compared to HKD 4,064.4 million for the same period in 2024[59] - Operating profit for the same period was HKD 355.4 million, up from HKD 186.3 million in 2024[59] - Net profit attributable to shareholders for the six months was HKD 190.0 million, compared to HKD 120.3 million in 2024, representing a 58.0% increase[59] - Total comprehensive income for the period was HKD 164.2 million, significantly up from HKD 31.2 million in the previous year, indicating a strong recovery in overall performance[61] Dividends - The board declared an interim dividend of HKD 0.30 per share, totaling HKD 157.8 million, compared to no dividend in the same period last year[5] - The approved and paid final dividend for the previous fiscal year during the interim period is HKD 0.50 per share, amounting to HKD 254.4 million, compared to HKD 247.2 million for the previous year[85] - The interim dividend for the year 2025 is set at HKD 0.30 per share, to be paid on October 21, 2025[121] Revenue and Costs - Kowloon Bus Company recorded a profit after tax of HKD 176.7 million, an improvement of HKD 154.8 million compared to HKD 21.9 million in the previous year, driven by increased fare revenue and reduced fuel costs[7] - Fare revenue for Kowloon Bus reached HKD 3.5779 billion, an increase of HKD 138 million or 4.0% from HKD 3.4399 billion in the previous year[7] - Total operating costs for Kowloon Bus decreased by HKD 72.9 million or 2.0% to HKD 3.5176 billion, primarily due to lower fuel prices[7] - Revenue from the core bus services for the six months ended June 30, 2025, was HKD 3,891.0 million, up from HKD 3,742.3 million in 2024, reflecting a growth of 3.98%[77] Investments and Assets - The group's investment in LCK Real Estate Limited includes a 17-story commercial building in Lai Chi Kok with a total floor area of approximately 156,700 square feet, generating rental income[15] - As of June 30, 2025, the group's investment in mainland China transportation business amounted to HKD 589.8 million, reflecting a slight increase from HKD 569.6 million as of December 31, 2024[16] - The fair value of investment properties as of June 30, 2025, is HKD 8,216.2 million, down from HKD 8,273.3 million as of December 31, 2024[89] - The fair value of commercial properties in Hong Kong is HKD 5,189.2 million, while factory properties are valued at HKD 101.0 million as of June 30, 2025[91] Debt and Financing - As of June 30, 2025, the group's net debt was HKD 2.069 billion, down from HKD 2.281 billion as of December 31, 2024, with total unused bank credit amounting to HKD 3.280 billion[22] - The group's financing cost for the six months ended June 30, 2025, was HKD 26.8 million, a decrease of HKD 27 million from HKD 53.8 million for the six months ended June 30, 2024, primarily due to a reduction in average bank loans and a decrease in the average annual interest rate from 4.53% to 3.12%[23] - The company increased its bank loans to HKD 3,115.0 million in the current period, up from HKD 1,510.0 million in the previous year, indicating a significant rise in financing activities[69] Employee Compensation and Operations - Total employee compensation for the six months ended June 30, 2025, was HKD 2.1867 billion, compared to HKD 2.1280 billion for the same period in 2024, accounting for approximately 55% of the group's total operating costs[27] - The group maintained stable passenger volume for its bus services, benefiting from increased demand due to the Hong Kong-Zhuhai-Macao Bridge and fare adjustments approved by the government[28] - The group is actively expanding its bus services in response to changing passenger needs, including new routes in areas like New Territories East and Yuen Long, and special routes for major events[29] Market and Strategic Developments - The group is committed to sustainable development, operating the largest fleet of new energy buses in Hong Kong and establishing a training facility for electric vehicle maintenance[30] - The group aims to adapt to new operating environments and maintain positive development in core businesses while exploring innovative technologies and service areas to enhance shareholder value[32] - The group is closely monitoring market conditions and adjusting its strategies to manage interest rate risks and credit risks effectively[25] Stock Options and Shareholding - The total number of shares held by directors amounts to 25,175,702 shares, representing 4.787% of the issued shares[37] - The company has granted a total of 16,350,000 stock options as of March 31, 2023, with 6,980,000 options awarded to 15 directors and 9,370,000 options to various employees[40] - The total number of stock options granted is 21,115,000, with 20,285,000 remaining unexercised after accounting for 830,000 cancellations[46] - The company plans to continue its strategy of issuing stock options to incentivize employees and align their interests with shareholders[46] Financial Position and Liquidity - The company's net current assets dropped to HKD 107.8 million, a significant decrease from HKD 670.0 million in the previous year, indicating potential liquidity concerns[64] - The company reported a net cash inflow from operating activities of HKD 740.7 million for the six months ended June 30, 2025, compared to HKD 704.6 million in the same period of 2024, representing an increase of approximately 5.0%[68] - The company reported a decrease in cash used in investing activities to HKD 246.5 million from HKD 639.6 million in the previous year, reflecting improved cash management[69] Compliance and Governance - The company has adopted the standard code of conduct for securities transactions by directors, and all directors have complied with the trading standards[56] - The company has complied with the applicable code provisions of the Corporate Governance Code during the six months ended June 30, 2025[57] - The company has not identified any issues that would lead to a belief that the interim financial report as of June 30, 2025, is not prepared in accordance with HKAS 34[116]