Financial Performance - Revenue increased by 55.95% year-on-year to RMB 1,284,256,000[1] - Gross profit rose by 89.11% year-on-year to RMB 367,501,000[1] - Profit attributable to owners increased by 157.55% year-on-year to RMB 177,309,000[1] - Basic and diluted earnings per share were RMB 8.675 and RMB 8.673 respectively[1] - Operating profit for the period was RMB 215,068,000, compared to RMB 104,510,000 in the previous year[2] - The company reported a pre-tax consolidated profit of RMB 207,759,000 for the six months ended June 30, 2024, compared to RMB 93,515,000 for the same period in 2023[24] - The company reported a net profit attributable to shareholders of approximately RMB 177,309,000 for the first half of 2024, with basic and diluted earnings per share of RMB 8.675 and RMB 8.673, respectively[60] Dividends - The board proposed an interim dividend of HKD 0.03 per share for the six months ended June 30, 2024[1] - The company has proposed an interim dividend of HKD 0.03 per share for the six months ended June 30, 2024, compared to no dividend for the same period in 2023[32] - The board proposed an interim dividend of HKD 0.03 per share for the six months ending June 30, 2024, to be paid on October 16, 2024[72] Assets and Liabilities - Total assets decreased from RMB 2,721,644,000 as of December 31, 2023, to RMB 2,248,914,000 as of June 30, 2024[4] - Net assets increased to RMB 2,207,451,000 from RMB 2,011,739,000[6] - Current liabilities decreased from RMB 1,781,239,000 to RMB 1,311,325,000[5] - The company’s total liabilities as of June 30, 2024, were RMB 1,438,735 thousand, compared to RMB 1,379,936 thousand as of January 1, 2024, indicating an increase of approximately 4.2%[9] - The total equity attributable to owners of the company as of June 30, 2024, was RMB 825,354 thousand, up from RMB 611,981 thousand as of December 31, 2023, marking an increase of around 35%[9] Cash Flow - For the six months ended June 30, 2024, net cash generated from operating activities was RMB 450,601 thousand, a significant increase from RMB 177,996 thousand in the same period of 2023, representing a growth of approximately 153%[10] - The total cash and cash equivalents at the end of June 30, 2024, amounted to RMB 951,065 thousand, compared to RMB 729,701 thousand at the end of June 30, 2023, reflecting an increase of about 30%[11] - The company reported a net increase in cash and cash equivalents of RMB 195,744 thousand for the six months ended June 30, 2024, compared to RMB 107,806 thousand for the same period in 2023, indicating a growth of approximately 81%[11] - The net cash used in investing activities for the six months ended June 30, 2024, was RMB (10,072) thousand, compared to RMB (80,496) thousand in the same period of 2023, indicating a reduction in cash outflow by approximately 87%[10] - The company’s financing activities resulted in a net cash outflow of RMB 174,361 thousand for the six months ended June 30, 2024, compared to RMB 41,402 thousand in the same period of 2023, reflecting a significant increase in cash used for financing[10] Segment Performance - The oil and gas segment reported external revenue of RMB 1,281,731,000 and segment profit of RMB 363,509,000 for the six months ended June 30, 2024, compared to RMB 677,016,000 and RMB 111,536,000 respectively for the same period in 2023[23] - The new energy and refining segment generated external revenue of RMB 2,226,000 with a segment profit of RMB 4,428,000 for the six months ended June 30, 2024, compared to RMB 141,016,000 and RMB 83,062,000 for the same period in 2023[23] Operational Highlights - The company continues to focus on expanding its market presence and enhancing its service offerings in both existing and new sectors[22] - The company is actively pursuing international marine engineering market opportunities and maintaining close relationships with long-term clients in the oil and gas service sector[50] - The company has implemented measures to enhance risk management in operations amid macroeconomic developments and uncertainties[50] - The company continues to optimize project management and strengthen production capabilities, focusing on digital systems and smart equipment upgrades to enhance operational efficiency[50] Employee and Governance - The total number of employees increased to 2,310 as of June 30, 2024, compared to 2,281 as of December 31, 2023, with management and technical personnel rising to 1,063 from 1,026[70] - The company is committed to employee development, providing ongoing training and encouraging continuous education[70] - The company has established an audit committee consisting of four independent non-executive directors to review financial reporting and risk management systems[101] - The audit committee reviewed the unaudited interim financial information for the six months ending June 30, 2024, and found it compliant with applicable accounting standards and regulations[101] Share Options and Capital Management - The company has adopted a new share incentive plan, purchasing 163,700,000 shares at prices ranging from HKD 0.51 to HKD 0.95, with a total cost of approximately HKD 107,882,000 (RMB 98,032,000)[45] - The updated 2024 Share Option Scheme permits the issuance of up to 213,159,838 shares, which is 10% of the issued shares as of the 2024 AGM[80] - The total number of options granted to directors and employees from various plans amounts to 119,200,000, representing 5.59% of the company's total share capital[89] - The company believes that the share option plan effectively incentivizes eligible participants without the need for performance targets[91] - The capital structure is actively managed, with adjustments made to dividends, share issuance, and debt levels in response to economic conditions and asset risk characteristics[68] Risks and Uncertainties - The company faces potential business uncertainties due to its subsidiary being listed on the OFAC Specially Designated Nationals List, which may impact future orders and contract settlements[50] - The company is cautiously assessing the impacts of global political and economic tensions on its business development and is seeking solutions to navigate these challenges[71]
巨涛海洋石油服务(03303) - 2024 - 中期财报