Financial Performance - For the first half of 2022, the group's revenue was HKD 498,402,000, an increase of 10.75% compared to HKD 450,039,000 in the same period last year[9]. - Shareholders' profit attributable to the company was HKD 133,808,000, up 11.06% from HKD 120,478,000 in the previous year[9]. - Basic and diluted earnings per share were both HKD 0.1441, compared to HKD 0.1297 for the same period last year[9]. - EBITDA for the same period rose by 10.28% to HKD 413,245,000, while the EBITDA margin slightly decreased from 83.3% to 82.9%[33]. - The company reported a profit of HKD 133,808,000 for the six months ended June 30, 2022, representing an increase of 11.5% compared to HKD 120,478,000 in the same period of 2021[44]. - Total comprehensive income for the period was HKD 98,756,000, a significant decrease of 59.5% from HKD 243,301,000 in the previous year[44]. - The company’s trade receivables increased significantly to HKD 279,261,000, up 99.9% from HKD 139,540,000 year-over-year[46]. - The company’s pre-tax profit was impacted by net losses of HKD 6,301,000 and foreign exchange losses of HKD 1,330,000[59]. Dividends - The board declared an interim dividend of HKD 0.050 per share, an increase from HKD 0.040 per share in the previous year[10]. - The interim dividend proposed for the six months ended June 30, 2022, is HKD 0.05 per share, an increase from HKD 0.04 per share in 2021, totaling HKD 46,429,000 compared to HKD 37,143,000 in the previous year[64]. - The company paid dividends amounting to HKD 8,370,000, an increase from HKD 5,603,000 in the previous year[46]. Revenue Sources - Revenue from satellite transponder capacity increased by 10.13% to HKD 456,962,000, while revenue from satellite broadcasting and telecommunications services decreased by 6.45% to HKD 2,219,000[27]. - Revenue from satellite transponder capacity was HKD 456,962,000, up from HKD 414,919,000, indicating a growth of 10.1% year-over-year[57]. - The company generated HKD 235,747,000 in revenue from the Greater China region, an increase from HKD 207,152,000 in the previous year, reflecting a growth of 13.8%[56]. - Revenue from satellite transponder capacity and satellite telecommunications services from subsidiaries reached 183,798 thousand for the six months ended June 30, 2022, up from 143,791 thousand in the previous year[87]. Assets and Liabilities - The total cash and bank balance as of June 30, 2022, was HKD 1,372,977,000, reflecting a slight increase of 0.66% from HKD 1,363,964,000[25]. - The total liabilities of the group as of June 30, 2022, amounted to HKD 1,169,849,000, an increase of HKD 8,594,000 compared to the previous year[35]. - The company's non-current assets decreased to HKD 5,526,836,000 from HKD 5,766,823,000, reflecting a decline of 4.2%[46]. - Current assets increased to HKD 1,685,521,000, up 10.3% from HKD 1,528,541,000 year-over-year[46]. - The asset-liability ratio increased to 16.2% from 15.9% year-on-year, indicating a slight increase in financial leverage[25][26]. - The company’s total equity as of June 30, 2022, was HKD 6,042,508,000, down from HKD 6,134,109,000, a decline of 1.5%[47]. Cash Flow - The net cash outflow for the six months ended June 30, 2022, was HKD 400,725,000, which included a net cash inflow from operating activities of HKD 223,398,000[36]. - The net cash generated from operating activities was HKD 223,398,000, compared to HKD 151,730,000 in the previous year, indicating a growth of 47.1%[50]. - The company experienced a net decrease in cash and cash equivalents of HKD 400,725,000, compared to a decrease of HKD 1,308,000 in the prior year[50]. - Cash and cash equivalents totaled 291,930 thousand as of June 30, 2022, down from 701,847 thousand as of December 31, 2021[79]. Corporate Governance - The group continues to maintain strict corporate governance standards, particularly in internal controls and regulatory compliance[23]. - The company has complied with the Corporate Governance Code during the six-month period ending June 30, 2022, with the exception of the provision regarding the rotation of the chairman and CEO[98]. - The company’s board of directors has confirmed compliance with the standards of the code of conduct regarding securities transactions during the period from January 1, 2022, to June 30, 2022[99]. - The Audit and Risk Management Committee reviewed the accounting principles and practices adopted by the group during the six-month period ending June 30, 2022[101]. Market Conditions - The group is facing increased market expansion pressure in the satellite transponder leasing business due to ongoing competition and the impact of COVID-19[21]. - The company plans to expand its traditional satellite resource leasing business while also exploring new satellite project investments and business areas[21]. Investments and Commitments - The company has committed to invest HKD 736,000,000 in Asia-Pacific Satellite Broadband Communication (Shenzhen) Co., Ltd., maintaining its 30% equity stake in the venture[74]. - The company has unprovided capital commitments of 215,683 thousand as of June 30, 2022, compared to 223,658 thousand as of December 31, 2021[86]. Review and Compliance - The review findings are based on the agreed terms outlined in the engagement letter[103]. - The firm does not express an audit opinion on the interim financial information[105]. - The report emphasizes the limited scope of the review compared to a full audit[104].
亚太卫星(01045) - 2022 - 中期财报