Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 128,606 thousand, a decrease of 57.0% compared to HKD 299,038 thousand for the same period in 2021[7] - The company reported a loss before tax of HKD 81,890 thousand, a reduction from HKD 97,995 thousand in the same period last year[7] - Total comprehensive loss for the period was HKD 138,414 thousand, compared to HKD 89,026 thousand in the previous year[8] - The adjusted pre-tax loss for the group was HKD 80,604,000 for the six months ended September 30, 2022, an improvement from a loss of HKD 97,995,000 in the same period of 2021[26] - The group reported a basic loss per share of HKD 0.0128 for the six months ended September 30, 2022, compared to a loss of HKD 0.0162 in the same period of 2021[31] - The group reported a loss of approximately HKD 80.6 million for the period, a decrease of 17.8% compared to a loss of approximately HKD 98 million in the previous period[82] Revenue Breakdown - For the six months ended September 30, 2022, the revenue from the liquefied natural gas (LNG) business was HKD 127,143,000, a decrease from HKD 297,122,000 in the same period of 2021, representing a decline of approximately 57.3%[21] - The financial services and other segment reported revenue of HKD 1,463,000 for the six months ended September 30, 2022, down from HKD 1,916,000 in the prior year, a decrease of about 23.6%[21] - The total revenue for the group for the six months ended September 30, 2022, was HKD 128,606,000, compared to HKD 299,038,000 for the same period in 2021, reflecting a decline of approximately 57.0%[22] Assets and Liabilities - Non-current assets decreased to HKD 1,098,466 thousand as of September 30, 2022, from HKD 1,222,419 thousand as of March 31, 2022[9] - Current assets totaled HKD 299,605 thousand, down from HKD 364,305 thousand as of March 31, 2022[9] - As of September 30, 2022, the total current liabilities amounted to HKD 696,627,000, a decrease of 6.7% from HKD 746,894,000 as of March 31, 2022[10] - The total non-current liabilities decreased slightly to HKD 509,323,000 from HKD 519,216,000, reflecting a reduction of 1.7%[10] - The company's net asset value as of September 30, 2022, was HKD 192,121,000, down from HKD 320,614,000 as of March 31, 2022, indicating a decline of 40.0%[10] Cash Flow - The net cash flow from operating activities for the six months ended September 30, 2022, was HKD 36,082,000, significantly up from HKD 13,742,000 for the same period in 2021, representing a 162.5% increase[13] - The company recorded a tax refund of HKD 51,528,000 included in the net cash flow from operating activities for the six months ended September 30, 2022[13] - The company reported a net cash outflow from investing activities of HKD 8,057,000 for the six months ended September 30, 2022, compared to a much larger outflow of HKD 60,468,000 in the same period of 2021[13] Operational Changes - The company has ceased its securities brokerage business and is in the process of transferring unclaimed client assets to the High Court[14] - The company is engaged in the sale and distribution of liquefied natural gas (LNG) and has stopped providing securities brokerage services during this period[14] - The company plans to focus on improving operational efficiency and exploring new market opportunities in the upcoming quarters[5] Employee and Management Costs - The group’s employee costs, including directors' remuneration, were HKD 34,706,000 for the six months ended September 30, 2022, down from HKD 56,499,000 in the same period of 2021, a decrease of approximately 38.7%[26] - Total compensation for key management personnel was HKD 7,664,000 for the six months ended September 30, 2022, down from HKD 12,745,000 in the previous year[59] Shareholder Information - As of September 30, 2022, the company has 5,643,797,090 shares issued, with Dr. Jian holding 3,572,781,139 shares, representing approximately 63.3% ownership[102] - Dr. Jian is the sole major shareholder and serves as the Chairman, Executive Director, and CEO of the company[102] - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the prior year[29] Strategic Initiatives - The group plans to begin trial operations of a re-gasification project in Hubei province in December 2022, ensuring stable natural gas supply for winter heating[68] - A strategic partnership is being established to supply LNG at approximately 15% below current market prices, enhancing cost competitiveness[68] - The group aims to collaborate with Sinopec and CNOOC on LNG logistics and infrastructure projects to promote green development[71] Governance and Compliance - The company has adopted corporate governance practices in line with the listing rules and believes it has complied with all relevant provisions during the reporting period[95] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022[110] Miscellaneous - The document primarily serves as an acknowledgment rather than a detailed financial analysis[111] - The report is dated November 30, 2022[111] - The chairman of the board is Jian Zhijian[111]
中国港能(00931) - 2023 - 中期财报