华润电力(00836) - 2023 - 中期财报

Financial Performance - The company's turnover for the six months ended June 30, 2023, was HK$51,483,669, representing an increase from HK$50,409,175 in the same period of 2022[10]. - Profit attributable to owners of the company for the first half of 2023 was HK$6,740,100, compared to HK$4,369,939 in the first half of 2022, indicating a significant growth[10]. - Turnover for 1H23 was reported at HK$82,716 million, a decrease of 4.4% compared to HK$86,538 million in 1H22[14]. - Profit attributable to owners of the company rose to HK$6,740 million in 1H23, marking an increase of 54.3% from HK$4,370 million in 1H22[15]. - Basic earnings per share attributable to owners of the company increased to HK$1.40 in 1H23, up from HK$0.91 in 1H22, reflecting a growth of 53.8%[15]. - The total comprehensive income for the period, net of tax, was HK$2,344,625, compared to a loss of HK$2,576,134 in the first half of 2022[55]. - The Group's profit before income tax was HK$8,692,178 thousand, with a profit attributable to owners of the Company of HK$5,884,090 thousand[81]. - The profit for the period was reported at HK$6,740,100, while other comprehensive income resulted in a loss of HK$4,553,846, leading to a total comprehensive income of HK$2,240,902 for the six months ended June 30, 2023[161]. Operational Capacity - As of June 30, 2023, CR Power's total attributable operational generation capacity was 54,986 MW, with renewable energy sources (wind, hydro-electric, and photovoltaic) accounting for approximately 34.5% of this capacity at 18,970 MW[5][10]. - The total operational generation capacity of the company as of June 30, 2023, was 70,793 MW[16]. - The attributable operational generation capacity in Central China was 16,019 MW, representing the largest share of the company's capacity distribution[10]. - The attributable operational generation capacity of wind power was 16,682 MW, with 5,504 MW under construction; photovoltaic power capacity was 2,009 MW, with 5,039 MW under construction; and hydro power capacity was 280 MW[34]. - The total effective interest for the Yangjiang Wind Phase II project is 45.5 MW, fully attributable to the company[22]. - The Group's operational generation capacity was 70,793 MW, with attributable operational capacity of 54,986 MW, of which thermal power accounted for 36,016 MW, representing 65.5%[35]. Renewable Energy Focus - CR Power is focusing on expanding its renewable energy portfolio, with significant investments in new projects across various provinces[18]. - The company has maintained its position in the Hang Seng ESG 50 Index for four consecutive years, highlighting its commitment to sustainable development[6]. - Renewable energy's share of total operational generation capacity reached 34.5% in 1H23, compared to 32.6% in 1H22, indicating a positive trend towards renewable sources[12]. - The Group's strategic focus on expanding its renewable energy portfolio aligns with global trends towards sustainable energy solutions[34]. - The company is expanding its photovoltaic capacity, with projects like Guangzhou Photovoltaic at 14.3 MW and Shenzhen Photovoltaic at 5.6 MW, both fully attributable[22]. Financial Position - CR Power's non-current assets as of June 30, 2023, totaled HK$248,202,376, an increase from HK$227,535,156 in 2022[10]. - The company's net debt to shareholders' equity ratio was 171.0% as of June 30, 2023, compared to 149.1% in 2022, indicating a rise in leverage[10]. - Total assets increased to HK$310,548,837, up from HK$283,387,646, representing a growth of 9.1%[59]. - Total liabilities increased to HK$209,250,186, compared to HK$182,834,098, indicating a rise of 14.4%[61]. - The Group's total borrowings as of June 30, 2023 amounted to HK$158,034 million, an increase from HK$138,319 million as of 31 December 2022[124]. Cash Flow and Investments - Cash capital expenditure for the first half of 2023 was approximately HK$18,758 million, with HK$12,599 million allocated to wind and photovoltaic power plant construction[40]. - The Group aims to add 7,000 MW of new wind and photovoltaic projects for grid connection in 2023, with many projects expected to connect in the second half of the year[43]. - Net cash inflows from operating activities for the six months ended June 30, 2023, were HK$8,425,849, up from HK$8,193,823, reflecting a growth of 2.8%[64]. - Net cash outflows from investing activities amounted to HK$18,605,838, compared to HK$12,891,182, showing an increase of 44.5%[64]. - Cash flows from financing activities showed net inflows of HK$19,386,312 for the six months ended June 30, 2023, compared to HK$6,598,203 in 2022, representing a substantial increase in financing activities[167]. Dividends and Shareholder Returns - The interim dividend declared is HK$0.328 per share for the six months ended 30 June 2023, an increase from HK$0.21 per share in 2022, totaling approximately HK$1,578 million[112][113]. - The final dividend for the year ended 31 December 2022 was HK$0.376 per share, approved by shareholders, resulting in a total payment of approximately HK$1,809 million in July 2023, compared to HK$216 million in 2022[112][113]. - The company paid dividends amounting to HK$1,808,727 to owners during the period, reflecting ongoing shareholder returns despite the comprehensive income fluctuations[161]. Market Recognition and Strategic Development - CR Power has been included in the Hang Seng Index since June 5, 2023, reflecting recognition of its strategic transformation and innovative development by capital markets[6]. - Future outlook remains positive with ongoing development in integrated energy services and renewable energy technologies[20]. - The Group's diversified energy portfolio positions it well to capitalize on the growing demand for clean energy solutions[34].