香港中华煤气(00003) - 2022 - 中期财报

Financial Performance - The group's unaudited net profit after tax for the six months ended June 30, 2022, was HKD 3.315 billion, a decrease of HKD 0.885 billion or 21.1% compared to the same period last year[8]. - Revenue, excluding fuel adjustment costs, was HKD 29.032 billion, up from HKD 24.405 billion in 2021, representing an increase of 18.5%[8]. - Total revenue for the six months ended June 30, 2022, was HKD 29,721.0 million, an increase from HKD 24,727.6 million in 2021, representing a growth of 20.2%[31]. - Net profit for the period was HKD 4,056.5 million, down from HKD 4,868.5 million in the previous year, reflecting a decrease of 16.6%[31]. - Basic earnings per share decreased to HKD 17.8 from HKD 22.5, a decline of 20.9%[31]. - The company reported a net other comprehensive income of HKD 778.0 million, significantly lower than HKD 5,199.7 million in 2021, indicating a decrease of 85.0%[32]. - The company maintained a dividend of HKD 2,239.2 million, consistent with the previous year[31]. - The total comprehensive income for the period was HKD 601.2 million, down from the previous year[77]. Customer and Market Growth - The number of customers in Hong Kong reached 1,974,974, an increase of 1.1% from 1,952,813 in the previous year[8]. - The number of gas customers in mainland China increased to 36,002,287, up from 33,015,810 in the previous year, reflecting a growth of 9%[8]. - The group plans to reach a total customer base of 2 million by the end of the year[10]. - The group has obtained a total of 556 projects across 28 provincial regions in mainland China, an increase of 42 projects from the end of last year[11]. Operational Highlights - The total gas sales volume in mainland cities was approximately 16.057 million cubic meters, an increase of 1% compared to 15.899 million cubic meters in 2021[8]. - The total gas sales volume for the utility business was approximately 16.1 billion cubic meters, a 1% increase from the previous year[12]. - The group adjusted the standard gas charge in Hong Kong, increasing it by HKD 0.0115 per megajoule, a rise of 4.4%[10]. - The company's gas sales revenue (excluding fuel adjustment fees) for the six months ended June 30, 2022, was HKD 21,535.9 million, an increase of 20.4% from HKD 17,819.9 million in the same period of 2021[50]. Sustainability Initiatives - EcoCeres, Inc. was established to focus on sustainable biomass utilization, successfully raising about $100 million from strategic investor Kerogen Capital[15]. - Over 7,000 tons of sustainable aviation fuel (SAF) were produced in the first half of the year, establishing a leading position in the HVO and SAF sectors[16]. - The clean coal chemical business in Inner Mongolia has made progress in reducing carbon emissions and is expected to produce high-value low-carbon products in 2023[17]. - The group plans to achieve carbon neutrality by 2050 and has received certifications for its carbon emission statistics from HKQAA and BSI[23]. - The group plans to focus on zero-carbon smart park projects in key investment areas, including Jiangsu and Hebei, to provide carbon neutrality solutions for various industries[21]. Financial Position and Liabilities - Total assets less current liabilities amounted to HKD 129,833.3 million, slightly up from HKD 129,533.7 million in the previous year[33]. - Non-current liabilities increased to HKD 51,703.4 million from HKD 47,694.9 million, marking an increase of 8.4%[34]. - The company's net assets decreased to HKD 78,129.9 million from HKD 81,838.8 million, a decline of 4.5%[34]. - The group has issued USD 300 million in perpetual subordinated capital securities with a coupon rate of 4.75%[26]. - The group has established a medium-term note issuance plan with a total issuance capacity increased from USD 3 billion to USD 5 billion, enhancing future financing flexibility[25]. Cash Flow and Investments - Net cash from operating activities for the six months ended June 30, 2022, was HKD 4,442.9 million, a decrease of 15.8% from HKD 5,275.5 million in 2021[35]. - Net cash outflow from investing activities was HKD 2,763.4 million, significantly reduced from HKD 7,892.4 million in the previous year[35]. - Net cash outflow from financing activities was HKD 1,877.4 million, compared to a net inflow of HKD 3,493.2 million in 2021[35]. - The group has committed capital expenditures of HKD 5,767.6 million as of June 30, 2022, compared to HKD 5,868.7 million as of December 31, 2021[82]. Shareholder Information - The group plans to propose an interim dividend of HKD 2,239.2 million after the mid-year results[77]. - As of June 30, 2022, Dr. Li Ka-Shing holds 7,748,692,715 shares, representing 41.53% of the voting rights[98]. - Timpani Investments Limited owns 5,989,193,083 shares, accounting for 32.10% of the voting rights[98]. - Disley Properties Limited holds 4,313,717,809 shares, which is 23.12% of the voting rights[98]. Employee and Workforce - As of June 30, 2022, the group employed 2,076 staff in Hong Kong's gas business, serving 1,974,974 customers, resulting in a productivity increase of 2.5% year-on-year[27]. - The group has expanded its workforce in mainland China and overseas to approximately 53,690 employees as of June 30, 2022, an increase of about 2,110 from the previous year[27].