Financial Performance - Total revenue for the six months ended September 30, 2025, was HKD 5,183,257, a decrease of 12.9% compared to HKD 5,952,633 in 2024[9] - Gross profit for the same period was HKD 1,827,001, down 20.1% from HKD 2,286,230 in 2024[9] - Profit for the period was HKD 955,561, reflecting a decline of 22.8% from HKD 1,238,001 in 2024[9] - Operating profit for the six months was HKD 1,608,686, compared to HKD 2,019,134 in 2024, reflecting a decline of approximately 20.4%[33] - Profit attributable to the company's owners for the period was HKD 571,251, down from HKD 755,649 in 2024, a decrease of about 24.4%[35] - Basic and diluted earnings per share for the period were both HKD 35.12, compared to HKD 46.29 in 2024, a decline of approximately 24.0%[35] - Total comprehensive income for the period was HKD 1,283,533, down from HKD 1,574,104 in 2024, representing a decrease of about 18.5%[37] - The company reported a net decrease in cash and cash equivalents of HKD 757,998 for the period, with a closing balance of HKD 4,042,256[42] - The net cash flow from operating activities for the six months ended September 30, 2025, was HKD 390,607, down from HKD 715,128 in the previous year[42] Assets and Liabilities - The company’s net assets increased by 10.8% to HKD 24,226,275 from HKD 21,872,686 in the previous year[9] - The total assets rose by 2.9% to HKD 67,826,821 compared to HKD 65,891,643 as of March 31, 2025[9] - As of September 30, 2025, total liabilities amounted to HKD 43,938,423, a decrease from HKD 44,482,219 as of March 31, 2025[39] - Non-current assets as of September 30, 2025, totaled HKD 49,912,466, an increase from HKD 48,271,896 as of March 31, 2025[38] - Current assets amounted to HKD 17,914,355, slightly up from HKD 17,619,747 as of March 31, 2025[38] - The total outstanding borrowings decreased to HKD 24,456,400,000 as of September 30, 2025, from HKD 25,185,200,000 as of March 31, 2025, primarily due to debt repayments[113] Dividends and Shareholder Returns - The company maintained an interim dividend of HKD 0.13 per share, unchanged from the previous year[9] - The proposed interim dividend was HKD 212,202 thousand, reflecting the company's commitment to returning value to shareholders[44] - The board declared an interim dividend of HKD 0.13 per ordinary share for the six months ended September 30, 2025, consistent with the previous year[96] Segment Performance - Revenue from urban water supply operations was HKD 1,801,219, an increase from HKD 1,724,342, reflecting a growth of about 4.5%[55] - The environmental business, including wastewater treatment, showed a revenue increase of 8.7% to HKD 832,400 compared to HKD 765,600 in 2024[24] - Revenue from the Urban Water Supply segment was HKD 3,270,800,000, down 13.1% from HKD 3,765,200,000 in the previous year, with profit decreasing by 17.4% to HKD 941,300,000[99] - Revenue from the Direct Drinking Water Supply segment was HKD 263,200,000, a decrease of 28.3% from HKD 367,100,000, with profit declining by 55.2% to HKD 74,600,000[100] - The environmental segment reported revenue of HKD 832,400,000, an increase of 8.7% compared to HKD 765,600,000 in the previous year, with profit rising by 29.7% to HKD 366,600,000 from HKD 282,700,000[101] Financial Management and Strategy - The company continues to assess the impact of new accounting standards on its financial position and performance, with no significant effects reported so far[47] - The company is focused on enhancing its digital capabilities and financial strategies to manage foreign exchange risks effectively[117] - The company plans to leverage government-issued long-term bonds and special bonds to promote a light asset development strategy, aiming to enhance operational flexibility and cash flow generation[111] - The company aims to deepen smart water management by integrating AI, IoT, and big data technologies to improve operational efficiency and service resilience[110] Shareholder Information - The total number of issued and fully paid ordinary shares as of September 30, 2025, was 1,632,322,000, with a par value of HKD 0.01 per share[84] - The company has a total of 447,311,901 shares held by Mr. Duan Chuanliang, representing approximately 27.40% of the issued share capital[125] - Asset Full Resources Limited, wholly owned by Mr. Duan, holds 218,044,301 shares, accounting for 13.36% of the issued share capital[125] - ORIX Corporation holds 445,136,277 shares, which is about 27.27% of the issued share capital[125] Governance and Compliance - The company has complied with all applicable provisions of the Corporate Governance Code, except for certain deviations regarding the roles of the Chairman and CEO[127] - The audit committee, composed of four independent non-executive directors, has reviewed the accounting principles and practices adopted by the group[133] - The interim financial statements for the six months ending September 30, 2025, have been reviewed by Ernst & Young according to the relevant Hong Kong standards[134]
中国水务(00855) - 2026 - 中期财报