载通(00062) - 2023 - 中期业绩

Financial Performance - The group's unaudited profit attributable to shareholders for the six months ended June 30, 2023, was HKD 133.7 million, an increase of HKD 27.3 million or 25.7% compared to HKD 106.4 million for the same period in 2022[2]. - The revenue for the six months ended June 30, 2023, was HKD 3,805.4 million, up from HKD 2,946.7 million in the same period of 2022, representing an increase of 29%[3]. - The operating profit for the period was HKD 34.1 million, a significant improvement from an operating loss of HKD 170.1 million in the previous year[3]. - The basic earnings per share for the six months ended June 30, 2023, was HKD 0.28, compared to HKD 0.23 for the same period in 2022, reflecting a 21.7% increase[3]. - The interim dividend declared for the six months ended June 30, 2023, was HKD 0.30 per share, compared to no dividend for the same period in 2022[2]. - The company reported a pre-tax profit of HKD 2,084.3 million for the six months ended June 30, 2023, compared to HKD 1,973.2 million for the same period in 2022, reflecting a growth of 5.6%[17]. - The company recorded other income of HKD 98.2 million for the six months ended June 30, 2023, down from HKD 359.6 million in the previous year[16]. - Financing costs increased to HKD 84.9 million for the six months ended June 30, 2023, compared to HKD 19.3 million in the same period of 2022[18]. Operational Highlights - The flagship company, KMB, recorded a post-tax loss of HKD 48.2 million, an improvement of HKD 90.9 million compared to a post-tax loss of HKD 139.1 million in the same period last year[2]. - Employee costs increased to HKD 2,084.3 million from HKD 1,973.2 million, reflecting a rise of 5.6%[3]. - Fuel costs rose to HKD 487.9 million from HKD 342.7 million, marking an increase of 42.4%[3]. - The company reported a significant recovery in passenger volume, attributed to the easing of government pandemic measures, which positively impacted bus fare revenue[29]. - The company anticipates continued improvement in financial performance, despite rising fuel and employee costs[29]. Asset and Liability Management - Non-current assets totaled HKD 20,633.5 million as of June 30, 2023, compared to HKD 20,358.7 million as of December 31, 2022[5]. - The net current assets increased to HKD 380.7 million from HKD 233.9 million, indicating a significant improvement in liquidity[5]. - Total assets as of June 30, 2023, were HKD 20,911.5 million, while total liabilities were HKD 8,168.4 million, indicating a healthy asset-to-liability ratio[13]. - The company's total liabilities as of June 30, 2023, included a provision for the tunnel fee exemption fund amounting to HKD 465.9 million[17]. - The net debt of the group as of June 30, 2023, is HKD 28.626 billion, compared to HKD 27.251 billion on December 31, 2022[42]. Accounting Policy Changes - The company changed its accounting policy for investment properties and properties under development from a cost model to a fair value model, resulting in a fair value change of HKD 140.1 million for the six months ended June 30, 2023[8]. - Basic and diluted earnings per share for the six months ended June 30, 2023, were HKD 0.28, compared to a loss of HKD 0.08 before the accounting policy change[9]. - The retained earnings increased to HKD 12,352.1 million as of June 30, 2023, due to the adjustments from the new accounting policy[11]. - Deferred tax liabilities were adjusted to HKD 996.2 million as of June 30, 2023, reflecting the impact of the fair value measurement[11]. - The company anticipates that the new accounting policy will enhance comparability with other listed companies[8]. Future Outlook and Strategic Initiatives - The company plans to continue expanding its public transport services and exploring new business opportunities in the upcoming quarters[14]. - The company has been granted a new ten-year bus franchise starting from May 1, 2023, which is expected to enhance service quality and expand the bus service network[51]. - The company plans to increase its fleet of electric buses to over 80 units by the end of this year, aiming for 12.5% of the fleet to be electrified by 2025[51]. - The company is actively seeking to increase non-fare revenue and is pursuing various proposals with the government[51]. - The company is committed to a "zero emissions" roadmap in line with national and local carbon neutrality policies[51]. Employee and Compensation - Total employee compensation for the six months ended June 30, 2023, was HKD 2.0021 billion, representing approximately 52% of the group's total operating costs, an increase from HKD 1.8726 billion for the same period in 2022[49]. - The group has over 13,000 employees as of June 30, 2023, consistent with the number as of December 31, 2022[49]. Capital Expenditure and Financing - The group's capital expenditure for the six months ended June 30, 2023, was HKD 10.405 billion, an increase from HKD 6.687 billion for the same period in 2022[41]. - The group's unencumbered bank loans amount to HKD 50.078 billion as of June 30, 2023, up from HKD 49.676 billion on December 31, 2022[43]. - As of June 30, 2023, the group's unused bank credit totaled HKD 15.8 billion, an increase from HKD 6.2 billion as of December 31, 2022[44]. - Financing costs for the six months ended June 30, 2023, were HKD 49.1 million, up from HKD 9 million for the same period in 2022, primarily due to increased average bank loans and a rise in interest rates from 0.89% to 3.26%[45]. Governance and Compliance - The mid-term financial report for the six months ending June 30, 2023, has been reviewed by independent auditors and is available on the company's website[55]. - The company has complied with the applicable corporate governance code provisions during the review period[54]. - The company issued 11,974,451 shares at HKD 9.91 each on June 30, 2023, as part of a scrip dividend plan[52].