亚洲金融(00662) - 2023 - 中期业绩

Financial Performance - The company reported an operating profit of HKD 338,706,000 for the six months ended June 30, 2023, compared to HKD 84,298,000 for the same period in 2022, representing a significant increase [4]. - The net profit attributable to shareholders for the period was HKD 299,724,000, up from HKD 50,458,000 in the previous year, indicating a growth of approximately 493% [4]. - The company reported total comprehensive income of HKD 136,002,000 for the six months ended June 30, 2023, compared to a loss of HKD 159,472,000 in the same period of 2022 [5]. - Total revenue for the six months ended June 30, 2023, was HKD 1,375,443,000, an increase from HKD 1,003,268,000 for the same period in 2022 [17]. - The net profit for the period was HKD 299,724,000, significantly higher than the restated profit of HKD 50,458,000 for the same period in 2022, indicating a substantial increase [25]. - The company reported a profit attributable to shareholders of HKD 299.7 million for the first half of 2023, an increase of 494.0% compared to the same period in 2022 [28]. - Earnings per share reached HKD 0.321, reflecting a growth of 494.4% year-on-year [28]. - The insurance segment recorded a profit of HKD 256.2 million, a 109.5% increase from the same period last year [32]. Assets and Liabilities - The total assets of the company as of June 30, 2023, amounted to HKD 14,708,954,000, compared to HKD 14,734,713,000 at the end of 2022, showing a slight decrease [6]. - The total liabilities as of June 30, 2023, were HKD 3,728,992,000, compared to HKD 3,839,415,000 as of December 31, 2022 [18]. - The company’s cash and bank balances stood at HKD 2,634,609,000 as of June 30, 2023, down from HKD 2,728,885,000 at the end of 2022 [6]. - The company’s equity attributable to shareholders increased to HKD 10,979,962,000 as of June 30, 2023, from HKD 10,895,298,000 at the end of 2022 [6]. - The total liabilities for insurance contracts were adjusted from HKD 4,499,512 thousand to HKD 3,220,220 thousand due to the adoption of new accounting standards [12]. Dividends - The company declared an interim dividend of HKD 37,220,000, which translates to an interim dividend per share of 4.0 HK cents, compared to 1.5 HK cents in the previous year [4]. - The board declared an interim dividend of HKD 0.04 per ordinary share for the six months ended June 30, 2023, compared to HKD 0.015 in 2022 [51]. - The company declared an interim dividend of HKD 0.04 per share, up 166.7% from the previous year [28]. Insurance Revenue - The company’s insurance revenue for the period was HKD 1,244,434,000, compared to HKD 1,023,936,000 in the previous year, reflecting a growth of approximately 21.5% [3]. - The insurance segment generated revenue of HKD 1,244,434,000 from external customers, compared to HKD 1,023,936,000 in the previous year, reflecting a growth of approximately 21.5% [17]. - Insurance revenue grew by 21.5% year-on-year, demonstrating strong performance in medical, life, and property insurance sectors [32]. Investments - The company’s investment income for the period included realized gains of HKD 4,855,000 and unrealized gains of HKD 34,840,000, contributing to a total investment income of HKD 371,033,000 [3]. - The investment portfolio recorded realized and unrealized profits in the first half of 2023, with stable earnings from joint ventures and associates, including significant contributions from China Life Insurance Company, which holds a 5% stake in the company [34]. - The stock trading investment portfolio saw returns increase in the first half of 2023, driven by high-yield equity holdings and fixed-income investments, with a focus on maintaining a diversified portfolio across various asset classes [35]. Share Repurchase - The company repurchased 5,866,000 shares at a total cost of HKD 19.9 million during the reporting period [26]. - During the six months ended June 30, 2023, a subsidiary repurchased 5,866,000 ordinary shares for a total consideration of approximately HKD 20.011 million, all funded from retained earnings [44]. - The total number of shares repurchased during the reporting period was 5,866,000, with the highest purchase price being HKD 3.50 and the lowest HKD 3.24 [45]. - In July 2023, the company repurchased an additional 98,000 shares at a total cost of HKD 331,000 (excluding fees) [47]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code, except for a deviation regarding the separation of the roles of Chairman and CEO [49]. - The company’s audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2023, and recommended approval to the board [50]. Future Outlook - The company plans to maintain a conservative long-term strategy while monitoring market conditions for potential opportunities [28]. - The management remains optimistic about the insurance business outlook despite economic challenges and competitive market conditions [31]. - The company aims to continue expanding its distribution channels and enhancing product offerings to meet customer needs [31]. - The company invested in technology improvements, cybersecurity, and a new online insurance trading platform to enhance service for clients in Hong Kong and Macau, maintaining a strong position in the Asian insurance market with a positive outlook for the core underwriting business in the second half of 2023 [33]. Employee and Operational Metrics - The total number of employees increased to 338 as of June 30, 2023, reflecting the company's commitment to performance-based compensation and employee development [43]. - As of June 30, 2023, the company had cash and bank balances of HKD 2.634 billion, with no bank loans and a stable liquidity position to meet operational needs [40]. - The company has no significant contingent liabilities as of June 30, 2023, indicating a strong financial position [42].