Financial Performance - For the six months ended June 30, 2023, the company's revenue was HKD 419,728,000, a decrease of 15.79% compared to HKD 498,402,000 for the same period in 2022[10]. - EBITDA for the same period decreased by 16.57% to HKD 344,769,000, with an EBITDA margin dropping from 82.9% to 82.1%[4]. - The company's net profit attributable to shareholders decreased by 11.94% to HKD 117,829,000[10]. - Gross profit for the same period was HKD 187,812,000, down 25.3% from HKD 251,454,000 in the previous year[80]. - Operating profit decreased to HKD 172,117,000, compared to HKD 195,185,000 in the prior year, reflecting a decline of 11.8%[80]. - The company's profit for the six months ended June 30, 2023, was HKD 117,829,000, a decrease of 11.9% compared to HKD 133,808,000 for the same period in 2022[104]. - Total comprehensive income for the period was HKD 85,631,000, down from HKD 98,756,000 in the previous year, reflecting a decline of 13.3%[104]. - Basic earnings per share for the period is 0.127 HKD, down from 0.144 HKD in the same period last year, with a weighted average of 928,573,000 shares issued[24]. Revenue Breakdown - Revenue from satellite transponder capacity decreased by 17.64% to HKD 376,370,000, while revenue from satellite broadcasting and telecommunications services decreased by 12.03% to HKD 1,952,000[8]. - Revenue from a major customer accounted for over 10% of total revenue, amounting to HKD 110,764,000 for the six months ended June 30, 2023[60]. - Revenue by region for the six months ended June 30, 2023, included HKD 65,202,000 from Hong Kong, HKD 181,092,000 from Greater China, HKD 127,805,000 from Southeast Asia, and HKD 45,629,000 from other regions[62]. - Revenue from satellite transponder capacity and telecommunications services from subsidiaries was HKD 145,854 thousand for the six months ended June 30, 2023, down 20.7% from HKD 183,798 thousand in the same period of 2022[51]. Expenses and Costs - Tax expenses for the six months ended June 30, 2023, were HKD 22,022,000, down from HKD 34,456,000 in the same period last year, primarily due to reduced provisions for Hong Kong profits tax and overseas taxes[3][19]. - The company recorded a foreign exchange loss of HKD 32,198,000 for the period, compared to a loss of HKD 35,731,000 in the previous year[104]. - The company paid dividends amounting to HKD 155,562,000 during the financing activities, compared to HKD 187,590,000 in the previous year, indicating a decrease of 17.1%[113]. Assets and Liabilities - As of June 30, 2023, total liabilities were HKD 1,029,716,000, a decrease of HKD 30,139,000 from December 31, 2022[70]. - The asset-liability ratio improved to 14.7%, down 0.2 percentage points from December 31, 2022[70]. - Non-current assets decreased to HKD 5,008,577,000 as of June 30, 2023, from HKD 5,262,248,000 at the end of 2022, representing a reduction of 4.8%[106]. - Current assets increased to HKD 2,015,736,000, up from HKD 1,864,430,000, marking an increase of 8.1%[106]. - The company's total assets less current liabilities stood at HKD 6,812,300,000, a slight decrease from HKD 6,934,834,000 at the end of 2022, down by 1.8%[108]. - The equity attributable to the owners of the company was HKD 5,994,597,000, down from HKD 6,066,823,000, representing a decrease of 1.2%[108]. Cash Flow and Investments - The company recorded a net cash outflow of HKD 229,278,000, an improvement from HKD 400,725,000 in the previous year[71]. - The net cash generated from operating activities was HKD 205,260,000, compared to HKD 223,398,000 in the previous year, indicating a decrease of 8.1%[113]. - Cash and cash equivalents as of June 30, 2023, amount to 246,256 thousand HKD, down from 480,535 thousand HKD as of December 31, 2022[41]. - The company has cash and bank balances of HKD 1,809,461,000, with 93.36% in USD[71]. - The company has committed to invest 600 million RMB (approximately 736 million HKD) in Asia-Pacific Satellite Broadband Communication (Shenzhen) Co., Ltd., holding a 30% equity stake[35]. - The company has also committed to invest 6 million USD (approximately 46.8 million HKD) in Asia-Pacific Satellite Link Co., Ltd., holding a 20% equity stake[36]. Corporate Governance and Compliance - The company has complied with the corporate governance code, except for certain deviations regarding the tenure of independent non-executive directors[91]. - The audit and risk management committee reviewed the interim financial report for the six months ending June 30, 2023[95]. - The company’s financial data is prepared in accordance with International Financial Reporting Standards and Hong Kong Financial Reporting Standards[97]. - The company has not identified any significant issues that would lead to non-compliance with accounting standards in its interim financial data[101]. - The company’s directors confirmed compliance with the standards of conduct regarding securities trading during the reporting period[93]. Dividends - The interim dividend proposed for ordinary shares is 5.00 cents per share, unchanged from the previous year, amounting to 46,429 thousand HKD[23]. - The interim dividend declared after the reporting period totaled HKD 46,429,000[67]. - The board declared an interim dividend of HKD 0.050 per share, consistent with the previous year's interim dividend[143]. Satellite Operations - The satellite fleet includes APSTAR 5C, APSTAR 6C, APSTAR 7, APSTAR 9, and APSTAR 6D, providing extensive coverage to over 75% of the global population[144]. - APSTAR 5C satellite, in collaboration with Telesat Canada, has 63 transponders and covers the entire Asia-Pacific region[146]. - APSTAR 6C satellite is equipped with 45 transponders and covers the entire Asia-Pacific region[147]. - APSTAR 7 satellite has 56 transponders and provides coverage to the Asia-Pacific, Middle East, Africa, and parts of Europe[148]. - APSTAR 9 satellite features 46 transponders and covers the entire Asia-Pacific region[149]. Future Outlook - The company plans to expand its high-throughput satellite communication market and services, including satellite video integration services and frequency resource management[157]. - The satellite transponder rental market remains under pressure, with a continued oversupply and declining rental prices expected[154]. - The company is actively developing new markets in mainland China and Southeast Asia, achieving positive growth in business volume[154]. - The company is set to complete the Asia-Pacific 6E satellite project and the construction of ground facilities in Hong Kong, enhancing its service capabilities[157].
亚太卫星(01045) - 2023 - 中期财报