载通(00062) - 2022 - 中期财报

Financial Performance - The company reported a loss attributable to shareholders of HKD 94.5 million for the six months ended June 30, 2022, compared to a profit of HKD 20.2 million for the same period in 2021, representing a negative variance of HKD 114.7 million[3]. - Kowloon Bus (1933) Limited recorded a post-tax loss of HKD 139.1 million for the six months ended June 30, 2022, compared to a post-tax loss of HKD 36.9 million for the same period in 2021, a negative variance of HKD 102.2 million[4]. - Long Win Bus Company recorded a post-tax loss of HKD 25.4 million for the six months ended June 30, 2022, compared to a profit of HKD 2.7 million for the same period in 2021, a negative variance of HKD 28.1 million[5]. - Revenue for the six months ended June 30, 2022, was HKD 2,946.7 million, a decrease of 13.5% compared to HKD 3,408.8 million for the same period in 2021[43]. - Operating loss for the period was HKD 173.5 million, compared to an operating profit of HKD 17.0 million in the previous year[43]. - The company incurred a net cash outflow from operating activities of HKD 182.6 million, a decline from a cash inflow of HKD 215.1 million in the same period of 2021[49]. - The company reported a net loss for the period of HKD 94.5 million, a significant decline from a profit of HKD 20.2 million in the same period last year, highlighting the impact of operational challenges[56]. Revenue and Income - Fare revenue for Kowloon Bus was HKD 2.5723 billion, a decrease of HKD 403.8 million or 13.6% compared to HKD 2.9761 billion in the same period of 2021, primarily due to a significant drop in passenger volume caused by the fifth wave of COVID-19[4]. - Fare revenue for Long Win Bus was HKD 139.4 million, a decrease of HKD 17.9 million or 11.4% compared to HKD 157.3 million in the same period of 2021[5]. - Other income increased significantly to HKD 359.6 million, up from HKD 135.1 million, representing a growth of 166.5%[43]. - Revenue from the franchised public bus service was HKD 2,711.3 million, down 13.5% from HKD 3,133.0 million in the previous year[57]. - The company’s property holding and development segment reported revenue of HKD 25.4 million, a slight increase from HKD 23.8 million in the previous year[54]. Dividends and Shareholder Returns - The company did not recommend the declaration of an interim dividend for the six months ended June 30, 2022, and 2021[4]. - The company approved a dividend of HKD 232.6 million for the previous year, reflecting its commitment to returning value to shareholders despite recent losses[48]. - The company paid dividends to equity holders amounting to HKD 116.8 million, compared to HKD 109.4 million in the previous year, indicating a commitment to shareholder returns despite financial challenges[50]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to HKD 17,735.3 million, an increase from HKD 17,186.5 million at the end of 2021[46]. - Current liabilities decreased to HKD 2,354.3 million from HKD 2,759.5 million, indicating improved liquidity[46]. - Non-current liabilities increased to HKD 4,595.3 million from HKD 3,507.8 million, reflecting higher long-term debt obligations[46]. - The company’s total equity decreased to HKD 13,140.0 million from HKD 13,678.7 million, indicating a reduction in shareholder value[46]. Capital Expenditure and Investments - The group's capital expenditure for the six months ended June 30, 2022, was HKD 668.7 million, a decrease from HKD 978.4 million in the same period of 2021[12]. - The company invested HKD 1,217.9 million in investing activities for the six months ended June 30, 2022, compared to HKD 481.6 million in the same period of 2021[49]. - The group purchased property, plant, and equipment for HKD 349.5 million during the six months ended June 30, 2022, down from HKD 615.7 million in the same period of 2021[69]. Debt and Financing - The group's net debt as of June 30, 2022, was HKD 2.7391 billion, an increase from HKD 1.8950 billion on December 31, 2021[14]. - The group’s cash and cash equivalents decreased to HKD 303.1 million from HKD 796.3 million in the previous year, indicating a liquidity contraction[50]. - The company reported a significant increase in new bank loans, totaling HKD 3,190.0 million, compared to HKD 1,500.0 million in the same period last year[50]. Operational Efficiency and Future Outlook - The group plans to expand its electric bus fleet, with 52 double-decker electric buses ordered, aiming for one-eighth of the fleet to be electric by 2025[21]. - The group has initiated the installation of approximately 30,000 solar panels by the end of 2023 to promote renewable energy usage[21]. - The group anticipates a recovery in passenger volume as COVID-19 restrictions ease, with ongoing projects expected to provide stable returns for shareholders[22]. - The board of directors remains optimistic about long-term growth, emphasizing a commitment to shareholder value and strategic investments[86]. Shareholder Information - As of June 30, 2022, the total number of shares held by directors amounted to 35,182,018, representing 7.408% of the issued shares[25]. - The company has a total of 3,317,532 shares held in private trusts by director Lei Zhongyuan and his family members[26]. - The company’s directors collectively hold a significant portion of shares, indicating strong insider ownership and alignment with shareholder interests[25]. Stock Options and Director Interests - The company has not granted any stock options under its stock option plan during the six months ending June 30, 2022[29]. - The stock options plan was adopted on May 26, 2016, allowing the board to grant options to employees for a period of ten years[29]. - The total number of stock options granted to various directors is 3,675,000, with a vesting period starting from November 19, 2021, until November 18, 2025[30]. - The company has no non-beneficial interests held by directors in the company's share capital as of June 30, 2022[27].