Financial Performance - Revenue for the six months ended June 30, 2023, was HK$9,250,424,000, an increase from HK$8,179,795,000 in the same period of 2022, representing a growth of approximately 13.1%[8] - Gross profit for the period was HK$1,198,691,000, compared to HK$1,256,333,000 in the previous year, indicating a decrease of about 4.6%[8] - Operating profit decreased to HK$927,033,000 from HK$1,087,056,000, reflecting a decline of approximately 14.7%[8] - Profit for the period was HK$767,745,000, down from HK$884,947,000 in the prior year, representing a decrease of about 13.2%[10] - The company reported a profit before taxation of HK$963,089,000, compared to HK$1,055,857,000 in the same period last year, a decrease of approximately 8.8%[8] - Total comprehensive income for the period was HK$222,294,000, down from HK$381,810,000 in the previous year, reflecting a decline of about 41.9%[1] - Basic and diluted earnings per share for the period were both HK$8.190, down from HK$10.965 in the previous year, indicating a decrease of approximately 25.5%[11] Assets and Liabilities - As of June 30, 2023, total assets amounted to HK$21,431,295,000, a decrease from HK$22,947,693,000 as of December 31, 2022, representing a decline of about 6.6%[13] - Total liabilities as of June 30, 2023, amounted to HK$12,369,618,000, down 11.5% from HK$13,967,843,000 at the end of 2022[22] - The total equity attributable to owners of the company was HK$9,061,677,000 as of June 30, 2023, compared to HK$8,979,850,000 at the beginning of the year, indicating a growth of about 0.9%[1] - The company’s retained profits as of June 30, 2023, were HK$5,155,934,000, compared to HK$4,758,859,000 at the beginning of the year, an increase of approximately 8.3%[1] Cash Flow - For the six months ended June 30, 2023, the net cash generated from operating activities was HK$702,179,000, a decrease of 29.1% compared to HK$990,397,000 for the same period in 2022[32] - The company reported a net cash used in financing activities of HK$1,159,674,000 for the first half of 2023, significantly higher than HK$307,766,000 in the same period of 2022[32] - Cash and cash equivalents at the end of the period were HK$2,913,189,000, a decrease from HK$3,162,402,000 at the end of June 2022[32] Segment Performance - For the six months ended June 30, 2023, the Group's total revenue was HK$9,250,424,000, with segment revenues from natural gas sales at HK$7,270,183,000, gas pipeline construction at HK$418,360,000, crude oil and natural gas production at HK$241,923,000, and coal-derived clean energy sales at HK$1,319,958,000[48] - Segment results for natural gas sales were HK$753,694,000, for gas pipeline construction were HK$182,138,000, for crude oil and natural gas production were HK$81,069,000, and for coal-derived clean energy were HK$5,198,000[48] Market and Strategic Initiatives - The company is focusing on expanding its natural gas sales, with provinces reporting sales volumes exceeding 500 million cubic meters in the first half of 2023[16] - The company is preparing to enter new provinces for business expansion in the near term, indicating a strategic move towards market growth[16] - The Group aims to optimize business layout and innovate business models while expanding gas sources and developing markets[91] Governance and Compliance - The Company has complied with the relevant code provisions set out in the Corporate Governance Code during the six months ended 30 June 2023, except for certain deviations[143] - The Audit Committee, comprising three independent non-executive Directors, reviewed the unaudited interim financial statements for the six months ended 30 June 2023[146] - The company remains committed to adhering to corporate governance codes, ensuring transparency and accountability in its operations[152]
中油燃气(00603) - 2023 - 中期财报