Financial Performance - The company achieved a revenue of HKD 1.2 billion for the first half of 2024, reflecting a 10% year-on-year increase[4]. - The total revenue for the first half of 2024 was HKD 4.889 billion, a decrease of 8.2% compared to the same period last year[8]. - The telecommunications service revenue was HKD 4.160 billion, down 11.3% year-on-year[8]. - The profit attributable to shareholders was HKD 455 million, a decline of 36.9% compared to the previous year[8]. - EBITDA for the first half of 2024 was HKD 1.038 billion, a decrease of 28.3% year-on-year[8]. - The basic earnings per share were HKD 0.123, down 36.9% from the previous year[8]. - The group’s profit for the six months ended June 30, 2024, decreased by 35.8% to HKD 471 million, with profit attributable to shareholders down 36.9% to HKD 455 million, resulting in a basic earnings per share of HKD 0.123[24]. - The net profit for the period was HKD 471 million, down 35.8% from HKD 734 million in the previous year[74]. - The reported profit for the six months ended June 30, 2024, was HKD 1,059 million, a decrease of 30.3% compared to HKD 1,521 million for the same period in 2023[89]. - The pre-tax profit for the six months ended June 30, 2024, was HKD 568 million, down 36.3% from HKD 892 million in the prior year[89]. Revenue Breakdown - The mobile communication service revenue increased by 11.6% year-on-year, reaching HKD 510 million[15]. - Internet business revenue grew by 4.5% year-on-year, totaling HKD 737 million[15]. - International telecommunications business revenue decreased by 36.6% to HKD 1.237 billion, primarily due to a decline in messaging service revenue[34]. - Voice business revenue increased by 74.6% to HKD 899 million, partially offsetting the decline in messaging services[34]. - Corporate business revenue increased by 6.8% year-on-year to HKD 1.02 billion, totaling HKD 1.608 billion, primarily due to more projects awarded in Macau and Southeast Asia, offsetting a decline in mainland China[35]. Market Expansion and Technology - The group plans to expand its market presence in Southeast Asia, targeting a 20% increase in customer base by the end of 2024[5]. - The launch of the new 5.5G technology is expected to enhance service capabilities and drive a 25% increase in enterprise ICT service revenue[5]. - Macau Telecom launched 5.5G commercial services in July 2024, marking a significant technological advancement[15]. - The group aims to enhance its core product intelligence and promote smart product upgrades through the integration of emerging technologies like AI and big data algorithms[20]. - The group plans to leverage 5.5G technology and smart city digital infrastructure to introduce more innovative applications in Macau[20]. Sustainability and Corporate Responsibility - The company is committed to sustainable development, with plans to invest HKD 100 million in green technology initiatives over the next three years[5]. - The group has committed to sustainable development initiatives, participating in the "ESG Charter" action for the second consecutive year and receiving the "15 Years Plus Caring Company" logo for 15 years[19]. - The company emphasizes a sustainable development approach, integrating social responsibility into its core business strategy[70]. Operational Metrics - The total number of mobile users as of June 30, 2024, exceeded 710,000, representing a year-on-year increase of approximately 13.8%[32]. - The number of 5G mobile users reached over 624,000, accounting for 87.9% of the total mobile user base, up from 50.6% a year earlier[32]. - The group maintained a broadband market penetration rate of approximately 91.0% in Macau as of June 30, 2024[33]. - The average fixed broadband download speed in Macau is reported at 234.74 Mbps, ranking third globally according to cable.co.uk[16]. Financial Position and Liquidity - The net cash inflow from operating activities was HKD 891 million, a decrease of 27.4% compared to HKD 1.228 billion in 2023[47]. - The net debt increased to HKD 2.363 billion, with a net capital debt ratio rising from 17% to 18%[52]. - As of June 30, 2024, the company's cash balance is HKD 1.561 billion, with undrawn committed bank and other loan facilities amounting to HKD 7.290 billion, sufficient to cover total borrowings due in the next twelve months of HKD 3.855 billion[60]. - The total available credit facilities amount to HKD 12.257 billion, with drawn amounts of HKD 3.935 billion and undrawn amounts of HKD 8.322 billion[61]. - The company has a liquidity risk management policy that ensures sufficient cash reserves and compliance with borrowing covenants, with no significant contingent liabilities reported as of June 30, 2024[62]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, continuously reviewing governance practices to enhance investor confidence and protect shareholder interests[142]. - The company has fully complied with the applicable code provisions of the Corporate Governance Code during the six months ending June 30, 2024, except for one instance of absence at the annual general meeting[142]. - The audit committee, consisting of three independent non-executive directors and one non-executive director, reviewed the interim report and recommended its adoption by the board[142]. Shareholder Information - The interim dividend declared was HKD 0.060 per share, consistent with the previous year[15]. - The interim dividend is scheduled for distribution on September 27, 2024[147]. - The company will suspend share transfer registration from September 10, 2024, to September 13, 2024[147].
中信国际电讯(01883) - 2024 - 中期财报