Financial Performance - The Group recorded a revenue of approximately HK$56,090,000 for the six months ended 30 September 2022, representing a significant decrease of approximately 72.36% compared to HK$202,925,000 for the same period in 2021[8]. - The Group reported an unaudited consolidated loss attributable to owners of approximately HK$6,223,000 for the six months ended 30 September 2022, compared to a profit of approximately HK$2,023,000 for the same period last year[9]. - The Group's gross profit for the six months ended 30 September 2022 was HK$1,692,000, down from HK$5,551,000 in the same period of 2021[12]. - The loss before tax for the six months ended 30 September 2022 was HK$6,368,000, compared to a profit of HK$4,173,000 for the same period in 2021[12]. - The total comprehensive expense for the six months ended September 30, 2022, was HK$43,249,000, a significant decrease from a comprehensive income of HK$3,865,000 in the same period of 2021[16]. - The basic and diluted loss per share for the six months ended September 30, 2022, was HK$10.57, compared to earnings of HK$3.43 in the same period of 2021[16]. - The net cash used in operating activities for the six months ended September 30, 2022, was HK$5,378,000, compared to a net cash generated of HK$5,894,000 in the same period of 2021[21]. - Total other income for the six months ended September 30, 2022, was HK$642,000, down from HK$4,932,000 in 2021, indicating a decline of approximately 87%[64]. Expenses and Costs - Administrative expenses increased to HK$4,399,000 for the six months ended 30 September 2022, compared to HK$3,871,000 for the same period in 2021[12]. - The Group's cost of sales for the six months ended 30 September 2022 was HK$54,398,000, compared to HK$197,374,000 for the same period in 2021[12]. - The provision for impairment loss under the expected credit loss model on trade receivables was HK$4,271,000 for the six months ended 30 September 2022, up from HK$2,403,000 in the same period of 2021[12]. - Staff costs increased from HK$1,747,000 in the first half of 2021 to HK$1,913,000 in 2022, reflecting an increase of about 9.5%[68]. Assets and Liabilities - As of September 30, 2022, the company's total assets less current liabilities amounted to HK$372,317,000, down from HK$415,641,000 as of March 31, 2022[19]. - The company's net current assets as of September 30, 2022, were HK$322,873,000, a decrease from HK$362,705,000 as of March 31, 2022[19]. - The Group's total liabilities decreased to HK$7,034,000 as of September 30, 2022, from HK$11,464,000 as of March 31, 2022, a reduction of approximately 38.3%[53]. - The accumulated losses increased to HK$567,671,000 as of September 30, 2022, from HK$561,448,000 as of April 1, 2022[20]. Revenue Sources - For the three months ended September 30, 2022, revenue from trading of LNG was HK$27,484,000, a decrease of 73% compared to HK$101,726,000 for the same period in 2021[43]. - For the six months ended September 30, 2022, revenue from trading of LNG was HK$56,090,000, down 72% from HK$202,925,000 for the same period in 2021[43]. - Revenue from external customers in the People's Republic of China (PRC) was HK$56,090,000 for the six months ended September 30, 2022, down from HK$202,925,000 in the same period of 2021, a decline of approximately 72.4%[56]. Corporate Governance - The Company complied with the Corporate Governance Code except for one deviation during the six months ended September 30, 2022[171]. - The Audit Committee has reviewed the Group's interim results for the six months ended 30 September 2022, confirming compliance with applicable accounting standards and adequate disclosures[179]. - The Remuneration Committee is responsible for recommending remuneration policies for Directors and senior management, ensuring alignment with corporate goals[183]. - The Nomination Committee reviews the structure and composition of the Board at least annually, making recommendations to complement the Company's corporate strategies[188]. Shareholder Information - Mr. HN Chen holds 7,141,000 shares, representing approximately 12.12% of the issued share capital of the Company[137]. - Keen Insight Limited and Hony Capital Group L.P. each hold 8,250,000 shares, accounting for 14.01% of the issued share capital[144]. - The total issued Shares as of September 30, 2022, is 58,900,537[156]. - The shares held by Mr. HN Chen are registered under Wise Triumph Limited, which is wholly owned by him[139]. Future Outlook - The Group anticipates steady growth in LNG demand due to the PRC government's low-carbon emission goals and pollution control measures[121]. - The geopolitical tensions and global recession risks are expected to lead to uneven business recovery for a prolonged period[116]. - The Group will continue to develop its core LNG business and explore other opportunities to create shareholder value[121].
华夏能源控股(08009) - 2023 - 中期财报