中国燃气(00384) - 2025 - 中期业绩

Financial Performance - For the six months ended September 30, 2024, the company reported a revenue of HKD 35,105,202, a decrease of 2.6% compared to HKD 36,049,154 for the same period in 2023[2]. - The gross profit for the same period was HKD 5,855,695, representing a gross margin of approximately 16.7%[3]. - The net profit attributable to the company's owners was HKD 1,760,747, down from HKD 1,830,412 in the previous year, indicating a decline of 3.8%[8]. - The total comprehensive income for the period was HKD 3,879,660, compared to HKD 3,396,983 in the prior year, reflecting an increase of 14.2%[10]. - Basic earnings per share for the period were HKD 0.3271, a decrease from HKD 0.3400 in the same period last year[11]. - The group reported a total segment profit of HKD 3,856,283 thousand for the six months ended September 30, 2024, compared to HKD 3,673,888 thousand for the same period in 2023, reflecting a growth of approximately 5%[34][37]. - The attributable profit declined by 3.8% to HKD 1,760,747,000, with basic earnings per share at HKD 0.327, also down by 3.8%[63]. - Free cash flow was HKD 2,222,093,000, down from HKD 4,974,242,000 year-on-year[101]. Assets and Liabilities - Non-current assets increased to HKD 106,183,466 as of September 30, 2024, up from HKD 103,450,545 as of March 31, 2024[14]. - Current assets totaled HKD 47,290,062, an increase from HKD 45,247,179 in the previous reporting period[14]. - The company's total assets less current liabilities amounted to HKD 105,671,479, compared to HKD 98,315,467 in the prior year[18]. - The total equity attributable to the company's owners was HKD 57,123,321, an increase from HKD 53,927,655 as of March 31, 2024[20]. - The group has total bank loans and other loans amounting to HKD 46,397,031,000 as of September 30, 2024[107]. - The group has pledged bank deposits of HKD 232,854,000, and properties, plants, and equipment valued at HKD 8,935,040,000 as of September 30, 2024[111]. Revenue Streams - The group's revenue decreased by 2.6% year-on-year to HKD 35,105,202,000[63]. - The segment revenue from natural gas sales was HKD 19,641,836 thousand for the six months ended September 30, 2024, down from HKD 21,718,489 thousand for the same period in 2023, a decrease of approximately 9.6%[34][37]. - The sales revenue from liquefied petroleum gas (LPG) amounted to HKD 9,557,976,000, reflecting a year-on-year increase of 13.5%[85]. - The group achieved LPG sales of 201,800 tons, which is a 1.9% increase year-on-year[85]. - The sales volume of urban and rural pipeline gas was 9.33 billion cubic meters, an increase of 1.4% compared to the same period last year[80]. Expenses and Financial Management - The interest and other income and losses for the six months ended September 30, 2024, amounted to HKD 71,135 thousand, while the financial expenses were HKD 407,825 thousand[33]. - The group’s income tax expense for the six months ended September 30, 2024, was HKD 647,264 thousand, an increase from HKD 412,023 thousand for the same period in 2023, representing a rise of approximately 57%[39][41]. - Financial expenses decreased by 16.7% to approximately HKD 828,740,000 compared to the previous year[96]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.15 per share for the six months ended September 30, 2024, consistent with the previous year's dividend[50]. - The interim dividend will be paid in cash, with shareholders having the option to receive new shares under a scrip dividend scheme[50]. - The expected cash interim dividend checks and shares under the scrip dividend scheme will be mailed around February 18, 2025[51]. Operational Strategies and Market Position - The group is actively exploring innovative business growth paths and enhancing operational efficiency through digital transformation[60]. - The group emphasizes safety operations and aims to enhance safety management as a core objective[61]. - The group is focusing on expanding value-added services and kitchen renovation business in response to market opportunities[61]. - The group plans to actively expand its market presence in the real estate sector, with new user installation business expected to stabilize[117]. - The group aims to enhance its operational strategy by focusing on customer orientation and value creation, while exploring new business areas such as energy storage and biomass energy[116]. Market Conditions and Economic Outlook - The Chinese government has introduced significant policies to stabilize the economy, which is expected to positively impact the natural gas industry[56]. - The group anticipates that the Chinese government will introduce more concrete and effective stimulus policies to stabilize the economy, positively impacting the capital market[115]. - The global LNG prices have stabilized at low levels, providing a favorable environment for the group's operations[55].