Government Grants and Income - As of June 30, 2023, the company received government grants totaling HK$57,593,000 for gas pipeline construction projects, a decrease from HK$61,443,000 as of December 31, 2022[3] - Grants for gas pipeline and heating construction projects amounted to approximately HK$74,782,000 as of June 30, 2023, down from HK$79,339,000 as of December 31, 2022[3] - Deferred income recognized in profit or loss as other income during the six months ended June 30, 2023, was HK$2,125,000, slightly lower than HK$2,135,000 for the same period in 2022[3] Related Party Transactions - The company reported related party transactions with entities controlled by TEDA amounting to HK$121,174,000 for the six months ended June 30, 2023, compared to HK$57,554,000 in 2022[11] - The total revenue from entities controlled by Sinopec was HK$1,167,390,000 for the six months ended June 30, 2023, an increase from HK$1,008,464,000 in 2022[14] Financial Performance - For the six months ended June 30, 2023, the gross profit of the Group was HK$384,415,000, a decrease of 11.4% from HK$433,733,000 for the same period in 2022, with a gross profit margin of 12.3% compared to 14.2% last year[41] - The profit attributable to owners of the Company was HK$166,436,000, representing a decrease of 36% or HK$91,692,000 compared to HK$258,128,000 for the corresponding period last year[42] - Basic earnings per share for the period were 12.31 HK cents, down from 19.09 HK cents in the same period last year[51] - Profit for the period attributable to owners of the company was HK$166,436,000, a decrease of 35.5% compared to HK$258,128,000 in the same period last year[168] - Total comprehensive income for the period was HK$73,223,000, down 52.5% from HK$154,114,000 in the prior year[169] Assets and Liabilities - The company’s total liabilities as of June 30, 2023, were HK$46,814,000, down from HK$50,117,000 as of January 1, 2023[5] - The Group's total assets as of June 30, 2023, were HK$7,984,839, a decrease of 7% from HK$8,570,664 at the end of 2022[178] - Total liabilities decreased by 8% to HK$5,781,553 from HK$6,284,678 at the end of 2022[178] - As of June 30, 2023, the Group's current liabilities exceeded current assets by approximately HK$2,535,054,000, raising concerns about its ability to continue as a going concern[90] Borrowings and Financial Management - The Group's non-current bank borrowings increased to HK$1,211,185,000 as of June 30, 2023, from HK$1,018,507,000 as of December 31, 2022[45] - The Group's current bank borrowings decreased slightly to HK$587,532,000 as of June 30, 2023, from HK$598,284,000 as of December 31, 2022[45] - Total borrowings as of June 30, 2023, amounted to HK$3,887,779, a slight decrease from HK$3,904,259 as of December 31, 2022[143] - Current borrowings increased significantly from HK$1,575,868 as of December 31, 2022, to HK$2,368,302 as of June 30, 2023, reflecting an increase of approximately 50.4%[143] Employee and Administrative Expenses - The Group had a total of 1,723 employees as of 30 June 2023, a slight increase from 1,722 employees at the end of 2022[1] - Employee salaries and wages for the period amounted to HK$117,168,000, compared to HK$117,292,000 for the same period in 2022[1] - Administrative expenses increased by HK$2,150,000 or 2% to HK$143,913,000, primarily due to higher research and development expenses[63] Research and Development - Research and development expenses during the period were approximately HK$20,600,000, up from approximately HK$18,600,000 in the previous year[1] Share Options and Equity - The maximum number of Ordinary Shares to be issued upon exercise of share options under the 2021 Scheme is 62,294,575, representing approximately 4.6% of the total issued Ordinary Shares as of the date of this interim report[1] - The total equity attributable to owners of the company was HK$2,222,894,000 as of June 30, 2022, compared to HK$2,295,219,000 at the end of the previous year[173] Financial Risk Management - The Group's financial risk management focuses on minimizing potential adverse effects on financial performance due to market unpredictability[197] - As of June 30, 2023, the Group did not use any derivative financial instruments to hedge against its financial risk exposures[197] - Management concluded that the Group will have sufficient financial resources to support its operations and meet financial obligations in the coming twelve months[194] Other Financial Information - The actual amount of the 2022 Final Dividend paid was approximately HK$135,200,000[1] - The Board recommended a final dividend of HK$0.10 per ordinary share for the year ended 31 December 2022[68] - The Group had a net unrealized foreign exchange loss of HK$55,351,000 for financing activities during the six months ended 30 June 2023[67]
滨海投资(02886) - 2023 - 中期财报