Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 331,236,000, an increase of 7.3% compared to HKD 308,729,000 for the same period in 2023[3] - Gross profit for the same period was HKD 177,610,000, up 16.2% from HKD 152,888,000 year-on-year[3] - Operating profit decreased to HKD 118,846,000, down 17.8% from HKD 144,563,000 in the previous year[3] - Profit attributable to equity holders for the period was HKD 685,367,000, a decrease of 7.9% compared to HKD 744,189,000 in 2023[3] - Basic and diluted earnings per share were both HKD 27.57, down from HKD 29.93 in the previous year[3] - The company reported a net profit of HKD 685,362,000 for the six months ended June 30, 2024, compared to HKD 744,184,000 for the same period in 2023[15][19] - The total profit before tax for the company was HKD 752,810,000, with tax expenses of HKD (67,448,000)[15] - For the first half of 2024, the group's profit before tax was approximately HKD 752.81 million, a decrease of about 6.57% compared to HKD 805.71 million in the same period of 2023[46] - The group's net profit for the first half of 2024 was approximately HKD 685.36 million, down about 7.90% from HKD 744.18 million in the first half of 2023[46] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 16,177,786,000, compared to HKD 16,027,223,000 at the end of 2023[6] - Non-current assets totaled HKD 9,438,174,000, an increase from HKD 9,276,280,000 at the end of 2023[6] - Current assets decreased slightly to HKD 6,739,612,000 from HKD 6,750,943,000 at the end of 2023[6] - Total equity attributable to equity holders increased to HKD 15,803,872,000 from HKD 15,514,788,000 at the end of 2023[6] - The total liabilities for the company were HKD 371,976,000, with segment liabilities for the oil terminal and storage services at HKD 146,631,000[18][22] - The company’s total liabilities as of June 30, 2024, were not explicitly stated but can be inferred to have changed in relation to the increase in total assets[24] Cash Flow and Investments - The company reported a net cash flow from operating activities of HKD 662,003,000 for the period[5] - The company’s cash and cash equivalents as of June 30, 2024, were HKD 1,266,428,000, with time deposits exceeding three months amounting to HKD 5,170,291,000[16] - The company invested HKD 17,746,000 in non-current segment assets during the reporting period[15] - As of June 30, 2024, the group's cash and cash equivalents totaled approximately HKD 6.44 billion, an increase of about 10.49% from HKD 5.83 billion at the end of 2023[51] Revenue Segments - The total revenue for the oil terminal and storage services segment reached HKD 331,236,000 for the six months ended June 30, 2024, representing an increase from HKD 308,729,000 for the same period in 2023[15][19] - The profit from the oil terminal and storage services segment was HKD 161,261,000, while the profit from joint ventures amounted to HKD 357,935,000, leading to a total segment performance of HKD 607,873,000[15] - Revenue from crude oil terminal services for the six months ended June 30, 2024, was HKD 252,078 thousand, up from HKD 238,067 thousand in the same period of 2023, reflecting a growth of 5.4%[26] - The group's income from the crude oil terminal and storage segment was approximately HKD 331.24 million, an increase of about 7.29% compared to HKD 308.73 million in the same period of 2023[48] - The group's performance in the crude oil terminal and storage segment was approximately HKD 607.87 million, remaining stable compared to HKD 607.19 million in the first half of 2023[48] Customer and Market Insights - All revenue generated during the six months ended June 30, 2024, came from customers located in China[23] - The major customer, Sinopec Group, accounted for over 92% of the group’s revenue, totaling approximately HKD 305,698 thousand for the six months ended June 30, 2024, compared to HKD 286,527 thousand in 2023[25] Dividends and Shareholder Information - The company declared an interim dividend of HKD 248,616 thousand for the six months ended June 30, 2024, consistent with the same amount declared in 2023[30] - The company announced an interim cash dividend of HKD 0.10 per share for 2024, consistent with the same period in 2023[40] - The major shareholder, Sinopec Guande International Co., Ltd., holds 1,500,000,000 shares, representing approximately 60.33% of the issued shares[66] Operational Highlights - The subsidiary Huizhou Daya Bay Huade Petrochemical Co., Ltd. handled 57 oil tankers, achieving a crude oil unloading volume of approximately 7.39 million tons, a year-on-year increase of about 23.58%[41] - The total throughput of the six domestic terminal companies decreased by approximately 4.76% to about 10 million tons in the first half of 2024[41] - The investment income from the subsidiary Fujairah Oil Storage Company increased by approximately 34.67% to about HKD 67.05 million in the first half of 2024[41] - The share of results from joint ventures was approximately HKD 408.66 million, a decrease of about 6.74% compared to HKD 438.21 million in the first half of 2023[45] Strategic Initiatives - The company aims to enhance its core business and explore business transformation to become a leading international petrochemical storage and logistics company[42] - The company decided to cease the Batam project due to economic infeasibility influenced by energy transition and increasing competition in the oil storage market from the Greater Singapore area[62] Compliance and Governance - The company has maintained compliance with the Corporate Governance Code during the six-month period ending June 30, 2024[67] - No purchases, sales, or redemptions of the company's listed securities occurred during the six-month period ending June 30, 2024[71] - The company has implemented a biodiversity policy and successfully introduced green electricity, with plans to complete ISO 45001 certification by September 2024[71] Employment and Workforce - As of June 30, 2024, the company had a total of 221 employees, down from 228 employees on June 30, 2023[63]
中石化冠德(00934) - 2024 - 中期业绩