Financial Performance - Revenue for the six months ended June 30, 2022, increased by 32% to HK$3,046,876,000 compared to HK$2,316,905,000 in the same period of 2021[2] - Gross profit decreased by 4% to HK$433,733,000 from HK$453,067,000 year-on-year[2] - Profit for the period rose by 11% to HK$263,521,000, up from HK$238,114,000 in the previous year[2] - Basic earnings per share attributable to owners of the Company increased by 12% to 19.09 cents from 17.09 cents[5] - Total comprehensive income for the period was HK$154,114,000, a decrease from HK$266,449,000 in the previous year[6] - For the six months ended June 30, 2022, the profit for the period was HK$258,128,000, compared to HK$231,116,000 for the same period in 2021, representing an increase of approximately 11.7%[12] - Total comprehensive income for the period was HK$152,225,000, down from HK$258,752,000 in the previous year, indicating a decrease of approximately 41.2%[12] Assets and Liabilities - Total assets as of June 30, 2022, decreased by 4% to HK$7,879,888,000 compared to HK$8,179,625,000 at the end of 2021[3] - Total equity as of June 30, 2022, slightly decreased by 1% to HK$2,295,219,000 from HK$2,322,787,000[3] - Total liabilities as of June 30, 2022, decreased by 5% to HK$5,584,669,000 compared to HK$5,856,838,000 at the end of 2021[3] - Current assets decreased to HK$1,437,909 from HK$1,700,664, a reduction of about 15.4%[8] - Total equity attributable to owners of the company is HK$2,222,894, slightly down from HK$2,252,351, indicating a decrease of around 1.3%[9] - Non-current liabilities increased to HK$2,540,863 from HK$2,456,544, reflecting an increase of approximately 3.4%[9] - Current liabilities decreased to HK$3,043,806 from HK$3,400,294, a decrease of about 10.5%[10] Cash Flow and Financing - Cash generated from operations for the six months ended June 30, 2022, was HK$262,196,000, a decrease from HK$299,728,000 in 2021, reflecting a decline of about 12.5%[13] - Net cash inflow from operating activities was HK$252,938,000, compared to HK$209,648,000 in the previous year, showing an increase of approximately 20.7%[13] - The Group's net cash outflow from investing activities was HK$312,166,000 for the six months ended June 30, 2022, compared to HK$365,978,000 in 2021, reflecting an improvement of about 14.7%[14] - Proceeds from borrowings for the six months ended June 30, 2022, were HK$805,090,000, a decrease from HK$1,665,558,000 in the previous year, indicating a decline of approximately 51.7%[14] - The Group has access to undrawn bank borrowing facilities of RMB207,173,000 (approximately HK$242,534,000) as of June 30, 2022[22] - The Group obtained financing proceeds of RMB300,000,000 (approximately HK$351,000,000) through a finance lease arrangement in April 2022[23] Shareholder Information - Dividends paid to the Company's shareholders amounted to HK$121,682,000, compared to HK$106,810,000 in the previous year, representing an increase of about 13.9%[14] - The total amount of the 2021 Final Dividend paid during the period was approximately HK$121,682,000, compared to approximately HK$106,810,000 for the six months ended June 30, 2021, representing a growth of 13.9%[67] - The Company has not declared an interim dividend for the six months ended June 30, 2022[67] Operational Highlights - Total segment revenue from external customers for the six months ended June 30, 2022, was HK$3,046,876,000, representing an increase from HK$2,316,905,000 for the same period in 2021[48] - Sales of piped natural gas accounted for HK$2,663,803,000, while construction and gas pipeline installation generated HK$337,211,000[48] - The company recognized a net impairment reversal on financial and contract assets amounting to HK$32,186,000[48] - The sales of bottled natural gas reached HK$15,205,000 for the six months ended June 30, 2022[48] - Gas passing through service generated revenue of HK$30,657,000 during the same period[48] Risk Management - The Group's overall risk management program focuses on minimizing potential adverse effects on financial performance due to market unpredictability[35] - The Group's financial risk factors include market risk, credit risk, and liquidity risk, with a focus on managing these risks effectively[35] Employee and Compensation - The Group had a total of 1,687 employees as of June 30, 2022, with salaries and wages amounting to HK$117,292,000 during the period[195] - Approximately HK$18,600,000 of the total salaries and wages was recorded as research and development expenses for the six months ended June 30, 2022[195] Future Outlook - The Group expects China's natural gas consumption to exceed 430 billion cubic meters by 2025 and over 550 billion cubic meters by 2030, indicating significant market potential[175] - A framework agreement signed with major shareholders TEDA and Sinopec is anticipated to inject new momentum into the Group's development and competitiveness in the natural gas industry[177]
滨海投资(02886) - 2022 - 中期财报