Financial Performance - Revenue for the six months ended June 30, 2023, was HK$3,442,305,000, a decrease of 26% compared to HK$4,662,983,000 in 2022[10]. - Gross profit for the same period was HK$2,232,651,000, also down by 26% from HK$3,006,836,000 in 2022, with a gross profit margin of 65%[10]. - Profit for the period was HK$1,519,093,000, reflecting a 22% decline from HK$1,936,269,000 in the previous year[10]. - Profit attributable to owners of the Company decreased by 23% to HK$1,232,644,000 from HK$1,606,697,000[10]. - EBITDA for the period was HK$2,372,560,000, down 27% from HK$3,267,024,000 in 2022[10]. - Basic earnings per share decreased to 24.40 HK cents, a 23% drop from 31.80 HK cents in 2022[10]. - Total comprehensive income for the period was HK$1,323,564,000, down from HK$1,646,154,000, representing a decline of 19.6%[23]. - Profit before income tax was HK$2,121,154,000, compared to HK$2,749,626,000 in the previous year, indicating a decline of 22.8%[21]. Assets and Liabilities - Total assets as of June 30, 2023, increased by 3% to HK$24,178,695,000 from HK$23,463,484,000 at the end of 2022[12]. - Total liabilities rose by 17% to HK$5,592,427,000 from HK$4,786,265,000[12]. - Total current assets rose to HK$11,424,003, compared to HK$10,442,805, reflecting an increase of about 9.4%[25]. - Net current assets improved to HK$7,386,949, up from HK$7,208,171, indicating a growth of around 2.5%[28]. - Net assets decreased slightly to HK$18,586,268 from HK$18,677,219, a decline of about 0.5%[30]. - Total equity attributable to owners of the Company decreased to HK$16,411,027 from HK$16,768,677, a decline of about 2.1%[32]. Cash Flow - Net cash inflow from operating activities for the first half of 2023 was HK$2,720,518, compared to HK$1,879,534 in the same period of 2022, representing a 44.9% increase[41]. - Cash generated from operations was HK$3,416,045, with income tax paid amounting to HK$695,527[41]. - The company reported a net cash outflow from investing activities of HK$1,329,616 for the six months ended June 30, 2023, compared to HK$142,546 in the same period of 2022[43]. - The net increase in cash and cash equivalents for the same period was HK$1,265,841,000, down from HK$1,630,619,000 in 2022, indicating a decrease of about 22.4%[45]. - Cash and cash equivalents at June 30, 2023, totaled HK$5,027,222,000, a decrease from HK$5,865,117,000 at the end of June 2022, reflecting a decline of approximately 14.3%[45]. Dividends - Interim dividend per share was reduced to 10.00 HK cents, a decrease of 33% from 15.00 HK cents in 2022[10]. - The total interim dividend declared for the six months ended June 30, 2023, is HK$505,184,000, based on 5,051,837,842 ordinary shares[81]. - The interim dividend per ordinary share for 2023 is HK$0.10, down from HK$0.15 in 2022[79]. Production and Sales - The Group produced approximately 2.66 million tonnes of raw coking coal, a slight decrease of 1% YoY, while clean coking coal production increased by 7% YoY to approximately 1.86 million tonnes[161]. - The sales volume of clean coking coal increased by 3% YoY, with both sales accounting for 100% of the Group's revenue during the period[164]. - The average realised selling price of clean coking coal decreased by 22% YoY to RMB 1,973/tonne, down from RMB 2,521/tonne in the previous year[165]. - The Group sold clean coking coal amounting to HK$1,437,157,000 for the six months ended 30 June 2023, a decrease of 28.2% compared to HK$2,001,941,000 for the same period in 2022[145]. Cost Management - Cost of sales for the Period Under Review was approximately HK$1,210 million, representing a decrease of approximately HK$446 million or 27% YoY[176]. - The unit production cost of raw coking coal decreased by 4% YoY to RMB400 per tonne, while cash production cost decreased by 5% YoY to RMB326 per tonne[180]. - The Group faced rising cost pressures but implemented stringent cost controls, resulting in a reduction of RMB4 per tonne YoY in material and electricity costs[183]. Other Income and Expenses - Other income and gains, net, rose to approximately HK$32 million, an increase of approximately HK$29 million YoY, despite a net foreign exchange loss of approximately HK$42 million[186]. - Selling and distribution expenses decreased by approximately HK$36 million or 21% YoY to approximately HK$132 million, primarily due to a drop in sales by train[190]. - General and administrative expenses slightly increased by approximately HK$2 million YoY to approximately HK$91 million[191]. Environmental and Safety Measures - The Group emphasizes production safety and environmental protection while maintaining stable coal production[200]. - The Group is committed to safety management and enhancing environmental protection measures[200]. - All coal mines of the Group have obtained necessary permissions from relevant Chinese regulators[200]. - The Group actively manages production procedures to eliminate wastewater and waste gas discharge[200]. - The Group focuses on energy saving, emission reduction, and environmental protection[200].
首钢资源(00639) - 2023 - 中期财报