Financial Performance - Total revenue for the period from January 1, 2023, to June 30, 2024, reached HKD 959,084,000, compared to HKD 709,306,000 for the previous year, representing an increase of approximately 35.2%[1] - Gross profit for the same period was HKD 49,905,000, up from HKD 42,506,000, indicating a growth of about 17.8%[2] - The company reported a net loss of HKD 137,338,000 for the current period, compared to a net loss of HKD 199,038,000 in the previous year, reflecting a reduction in losses of approximately 30.9%[3] - The basic and diluted loss per share for the current period was HKD (28.90), compared to HKD (63.0) for the previous year, indicating a significant reduction in loss per share[5] - The group reported a loss of approximately HKD 137.3 million for the period, a decrease of about 31.0% from a loss of HKD 199.0 million in the previous year[46] Expenses and Liabilities - Research and development expenses increased to HKD 12,019,000 from HKD 4,018,000, marking a rise of about 199.5%[2] - Administrative and selling expenses rose to HKD 102,279,000, compared to HKD 86,014,000, which is an increase of approximately 18.9%[2] - The company incurred financial expenses of HKD 72,647,000, up from HKD 59,420,000, indicating an increase of approximately 22.2%[2] - Total liabilities increased to HKD 331,308,000 from HKD 156,908,000, representing a growth of 111.0%[7] - The group’s financial expenses, excluding lease liabilities, amounted to HKD (70,876,000) for the reporting period[16] Assets and Equity - Total non-current assets increased to HKD 67,511,000 as of June 30, 2024, from HKD 33,514,000 in the previous year, reflecting a growth of 101.5%[6] - Current assets totaled HKD 296,745,000, up from HKD 281,024,000 year-over-year, showing an increase of 5.5%[6] - The company’s cash and cash equivalents rose to HKD 138,125,000 from HKD 76,117,000, marking an increase of 81.5%[6] - The company’s equity attributable to owners was HKD 2,176,000, compared to a loss of HKD (49,146,000) in the previous year, indicating a recovery in equity[7] Strategic Focus and Future Plans - The company plans to focus on expanding its carbon neutral business and enhancing its digital technology services in the upcoming fiscal year[1] - The management highlighted ongoing efforts in market expansion and potential mergers and acquisitions to strengthen its competitive position[1] - The company plans to continue developing existing carbon credit projects and seek new carbon projects to ensure a steady supply of carbon credits[10] - The company aims to improve operational efficiency and reduce non-operating expenses in the next financial period[4] - The group is focusing on global carbon neutrality business, including carbon credit asset trading and development, and plans to collaborate with Qidi Industrial Park for integrated business innovation in new energy[44] Acquisitions and Investments - The company acquired 73% of Shenzhen Jianxin Building and Technology Co., Ltd. for HKD 19,686,000, which will be renamed Zhong Carbon Green Technology (Shenzhen) Co., Ltd. after the merger on April 7, 2024[37] - The company also purchased 60% of Henan Zailiang New Energy Recycling Co., Ltd. for HKD 30,000,000, which is approved by the Ministry of Industry and Information Technology of China for lithium battery recycling[37] - The total purchase price for both acquisitions amounts to HKD 49,686,000, with cash payments of HKD 41,822,000[39] - The group has completed the cash acquisition of 60% equity in Henan Zai Liang New Energy, a lithium battery recycling company approved by the Ministry of Industry and Information Technology of China[55] Carbon Neutrality Initiatives - The company plans to continue exploring and developing carbon credit assets through various emission reduction projects, including biogas and solar energy initiatives[20] - The group aims to reduce 2% of China's CO2 emissions, targeting a total of 100 million tons of negative carbon emissions through natural and technological solutions[48] - The group successfully registered the first fertilizer carbon reduction project on the VCS platform in Huoqiu County, achieving an annual reduction of 76,000 tons of CO2 equivalent over a ten-year period, totaling 760,000 tons[47] - The waste incineration power generation project in Yingkou registered on the VCS platform, with an annual reduction of 245,000 tons of CO2 equivalent, totaling 5.145 million tons over a 21-year period[47] Corporate Governance and Compliance - The board does not recommend the payment of any final dividend for the current period[63] - The audit committee currently consists of three members, all of whom are independent non-executive directors, and has reviewed the group's accounting principles and policies[67] - The company emphasizes its commitment to transparency and compliance with regulatory requirements[69] - The financial statements have been prepared on a going concern basis, indicating the company's belief in its ability to meet future financial obligations[11]
中国碳中和(01372) - 2024 - 年度业绩