Financial Performance - The company reported a revenue of HKD 1,543,055,000 for the first half of 2023, representing a 28% increase compared to HKD 1,207,792,000 in the same period of 2022[7]. - Interest income rose by 29% to HKD 1,189,534,000, up from HKD 924,606,000 year-on-year[7]. - The net profit attributable to ordinary shareholders decreased by 26% to HKD 119,420,000, down from HKD 161,251,000 in the previous year[7]. - Total costs increased by 38% to HKD 1.44 billion, mainly due to a significant rise in financing costs, with the average Hong Kong Interbank Offered Rate (HIBOR) increasing 12.58 times to approximately 3.52%[20]. - Operating profit for the period was HKD 824,294,000, compared to HKD 501,245,000 in the previous year, reflecting a significant increase[60]. - The profit for the period attributable to owners of the parent was HKD 119,420,000, down from HKD 161,251,000 in the same period last year, representing a decrease of 26%[60]. - Total comprehensive income for the period attributable to owners of the parent was HKD 131,952,000, compared to HKD 118,422,000 in the previous year, indicating an increase of 11%[60]. Assets and Liabilities - Total assets increased by 9% to HKD 102,803,973,000 as of June 30, 2023, compared to HKD 94,455,086,000 at the end of 2022[7]. - Total liabilities rose by 10% to HKD 87.83 billion, up from HKD 79.52 billion at the end of 2022, primarily due to an increase in issued debt securities[23]. - The nominal leverage ratio increased to 6.02 times as of June 30, 2023, compared to 5.44 times at the end of 2022[24]. - As of June 30, 2023, the group's current assets amounted to HKD 85.33 billion, an increase of 10% compared to the end of 2022[26]. - The group's cash and cash equivalents balance was HKD 11.97 billion, up from HKD 7.76 billion at the end of 2022[26]. Dividends and Shareholder Returns - The company maintained a high dividend payout ratio of 80%, compared to 59% in the same period last year, reflecting a 21 percentage point increase[7]. - The interim dividend declared is HKD 0.01 per share, consistent with the previous year's interim dividend[33]. - The final dividend for 2022 paid to shareholders was HKD 95,540, reflecting the company's commitment to returning value to its investors[69]. Operational Developments - The company achieved its first operational carbon neutrality by offsetting greenhouse gas emissions through carbon credits from certified forestry projects[17]. - The new mobile trading application "Junhong Global" was launched to enhance digital financial services and improve customer experience[16]. - The company became one of the first qualified participants in the "Swap Connect" and "Dual Counter Model" for providing quality market-making services[15]. Risk Management and Strategic Focus - The group aims to enhance its wealth management services and expand its external asset management business in response to market opportunities[32]. - The group will continue to focus on risk management and improving risk-adjusted returns for investors[32]. Employee and Corporate Governance - The group employed a total of 617 employees as of June 30, 2023, with competitive compensation packages[31]. - The company has adopted all principles and code provisions of the Corporate Governance Code as of June 30, 2023[48]. - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[52]. Financial Instruments and Derivatives - The total notional amount of current derivatives was HK$82,521,697,000, with assets of HK$1,797,266,000 and liabilities of HK$1,470,150,000[140]. - The total notional amount of interest rate derivatives was HK$12,495,536,000, with assets valued at HK$488,068,000 and liabilities of HK$271,177,000[140]. - The total financial liabilities at fair value through profit or loss amounted to HK$2,261,958 thousand as of June 30, 2023, up from HK$2,108,386 thousand as of December 31, 2022[160]. Share Options and Capital Structure - The company has a stock option plan that allows for the issuance of up to 10% of the total shares at the time of adoption, which equates to 164,000,000 shares[41]. - As of June 30, 2023, there were 43,334,428 share options outstanding, representing approximately 0.45% of the company's shares in issue[176]. - The company did not recognize any equity-settled share-based compensation expense for share options under the Share Option Scheme for the six months ended June 30, 2023[173]. Related Party Transactions - Professional and consultancy fees paid to fellow subsidiaries for capital market information amounted to HKD 19,500,000 for the period ended June 30, 2023, compared to HKD 24,000,000 in 2022[183]. - The Group's accounts receivable included a broker receivable from the ultimate holding company amounting to HKD 109,267,000, an increase of 23.8% from HKD 88,297,000 as of December 31, 2022[186].
国泰君安国际(01788) - 2023 - 中期财报