Financial Performance - Revenue grew by 13% to HKD 9.250 billion, compared to HKD 8.180 billion in the previous year[2][3] - Gross profit was HKD 1.199 billion, down from HKD 1.256 billion year-on-year[3] - Operating profit decreased to HKD 927 million from HKD 1.087 billion in the previous year[3] - Profit attributable to owners of the company was HKD 402 million, a decrease from HKD 553 million year-on-year[9] - Total comprehensive income for the period was HKD 381 million, compared to HKD 337 million in the previous year[9] - The group reported a total profit before tax of HKD 963,089,000 for the six months ended June 30, 2023, compared to HKD 767,745,000 for the same period in the previous year, indicating an increase of approximately 25.5%[35] - The total revenue for the group for the six months ended June 30, 2023, was HKD 9,250,424,000, compared to HKD 8,179,795,000 for the same period in the previous year, representing a growth of approximately 13.1%[35] - The group recorded a revenue of HKD 9.25 billion for the six months ended June 30, 2023, representing a 13% increase from HKD 8.18 billion in the same period of 2022[81] Assets and Liabilities - Total assets amounted to HKD 21.431 billion, down from HKD 22.948 billion at the end of the previous year[10] - Total liabilities decreased to HKD 12,369,618,000 as of June 30, 2023, from HKD 13,967,843,000 as of December 31, 2022, representing a reduction of approximately 11.5%[27] - The group's total assets as of June 30, 2023, were HKD 21,431,295,000, down from HKD 22,947,693,000 as of December 31, 2022, indicating a decrease of approximately 6.6%[27] - Total debt as of June 30, 2023, was HKD 7.65 billion, down from HKD 8.40 billion as of December 31, 2022[83] Equity and Earnings - The group’s total equity increased to HKD 9,061,677,000 as of June 30, 2023, compared to HKD 8,979,850,000 as of December 31, 2022, reflecting a growth of approximately 0.9%[27] - The company reported a basic and diluted earnings per share of HKD 8.190, down from HKD 10.965 in the previous year[9] - The diluted earnings per share for the six months ended June 30, 2023, was approximately HKD 0.082, based on a profit attributable to shareholders of approximately HKD 402,116,000[21] Operational Highlights - Natural gas sales volume reached 3.766 billion cubic meters, an increase of 14%[2] - The total gas sales and transmission volume for the first half of 2023 was 3.766 billion cubic meters, a 14% increase from 3.291 billion cubic meters in the same period of 2022[73] - External customer sales for the gas pipeline construction and connection segment amounted to HKD 7,270,183,000 for the six months ended June 30, 2023[35] - The group added 68,836 residential users, bringing the total to 1,982,377, and added 552 commercial users, totaling 17,248[51] Financial Management - Financial income increased to HKD 123 million from HKD 89 million year-on-year[3] - The group’s financial income and other losses, net, amounted to HKD 122,630,000 for the six months ended June 30, 2023[35] - The group’s trade receivables as of June 30, 2023, were HKD 1,129,110,000, an increase from HKD 997,933,000 as of December 31, 2022[45] - The group’s cash and cash equivalents as of June 30, 2023, were not explicitly stated but are part of the total assets reported[27] - The average cost of the group's debt was 5% as of June 30, 2023, compared to 4% in the same period of 2022[57] - The net debt to asset ratio increased to 22% as of June 30, 2023, compared to 19% as of December 31, 2022[101] Strategic Initiatives - The company continues to focus on expanding its energy-related business in China and Canada, including natural gas operations and clean energy products[12] - The group plans to explore new energy projects, including integrating photovoltaic systems into residential users[51] - The group plans to continue expanding its market presence and optimizing its business layout following the acquisition of Shandong Shengli Co., Ltd.[79] - The group aims to enhance internal management and innovate business models to meet customer demands while deepening its core business[79] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has ensured compliance by all directors during the six months ended June 30, 2023[109] - The audit committee, established in 1998, consists of three independent non-executive directors and has reviewed the unaudited interim financial statements for the six months ended June 30, 2023[111] - The board includes four executive directors and three independent non-executive directors, ensuring a balance of power and authority within the governance structure[112] Dividends - The group will not declare any interim dividend for the six months ended June 30, 2023[69] - The group did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[91]
中油燃气(00603) - 2023 - 中期业绩