Workflow
中国碳中和(01372) - 2024 - 中期财报
01372C CARBONNEUTRAL(01372)2025-03-20 12:33

Revenue and Profitability - Revenue for the six months ended December 31, 2024, was HK307,757,000,representinga55.8307,757,000, representing a 55.8% increase from HK197,513,000 for the same period in 2023[4] - Gross profit increased to HK25,205,000,up54.325,205,000, up 54.3% from HK16,339,000 year-over-year[4] - The company recorded a loss for the period of HK26,256,000forthesixmonthsendedDecember31,2024[13]−ThelossattributabletoownersoftheCompanydecreasedtoapproximatelyHK26,256,000 for the six months ended December 31, 2024[13] - The loss attributable to owners of the Company decreased to approximately HK26.3 million in 1H2024 from approximately HK36.3millionin1H2023,primarilyduetoareductioninimputedinterestonconvertiblebondsbyHK36.3 million in 1H2023, primarily due to a reduction in imputed interest on convertible bonds by HK8.4 million[161] - Basic and diluted loss per share improved to HK0.049,comparedtoHK0.049, compared to HK0.099 for the same period last year[8] Expenses and Costs - Loss before tax improved to HK27,268,000,areductionof26.027,268,000, a reduction of 26.0% compared to a loss of HK36,835,000 in the previous period[4] - Research and development costs rose to HK9,035,000,anincreaseof174.59,035,000, an increase of 174.5% from HK3,287,000 in the prior period[4] - Total comprehensive expense for the period was HK29,289,000,down25.629,289,000, down 25.6% from HK39,345,000 in the previous period[6] - The Group's employee benefit expense (excluding directors' remuneration) decreased to HK14,424,000fromHK14,424,000 from HK17,696,000[61] - The Group's financial costs decreased to HK14,852,000forthesixmonthsendedDecember31,2024,fromHK14,852,000 for the six months ended December 31, 2024, from HK23,084,000 in the prior period[59] Assets and Liabilities - Total non-current assets decreased to HK59,857,000fromHK59,857,000 from HK67,511,000 as of June 30, 2024[10] - Current assets increased to HK316,667,000,upfromHK316,667,000, up from HK296,745,000 as of June 30, 2024[10] - Net current liabilities increased to HK58,785,000fromHK58,785,000 from HK34,563,000 as of June 30, 2024[10] - Cash and cash equivalents decreased to HK118,981,000fromHK118,981,000 from HK138,125,000 as of June 30, 2024[10] - The net liabilities reported as of December 31, 2024, were HK(30,687,000),comparedtoHK(30,687,000), compared to HK(1,398,000) as of June 30, 2024, indicating a significant increase in deficit[11] Segment Performance - The global carbon neutral segment generated revenue of HK2,739,000,whilethecivilengineeringandconstructionsegmentcontributedHK2,739,000, while the civil engineering and construction segment contributed HK287,466,000, indicating a strong performance in construction services[43] - The battery cascading utilization business segment reported revenue of HK12,211,000,markingtheintroductionofnewservicesinwastebatterytrading[50]−ThesegmentresultsfortheglobalcarbonneutralsegmentshowedalossofHK12,211,000, marking the introduction of new services in waste battery trading[50] - The segment results for the global carbon neutral segment showed a loss of HK15,340,000, while the civil engineering segment achieved a profit of HK6,064,000,highlightingvariedperformanceacrosssegments[43]FinancialManagementandStrategy−TheGroupplanstocontinuedevelopingcarboncreditassetsfromexistingprojectsandidentifynewcarbonprojectstoenhanceitscarboncreditassetportfolio[30]−Thedirectorsbelievetherewillbesufficientfinancialresourcesavailabletomeetliabilitiesastheyfalldue[32]−TheGroupaimstoimproveitsgearingbyrepayingotherborrowingstoreducelong−termfinancecosts[30]−TheGroup′sstrategyincludesholdinginvestmentsinequityinstrumentsformediumtolong−termpurposes,ratherthanfortrading,asreflectedinthedesignationoftheseinvestmentsasFVTOCI[78]CarbonNeutralInitiatives−Thecompanyisfocusingoncarbonneutralityinitiatives,aligningwithmarkettrendstowardssustainability[14]−TheGroupisdevelopinga"DualCarbonDigitalManagementandControlPlatform"toenhancetransparencyandefficiencyincarbon−neutraldevelopment,integratingadvancedsecuritytechnologiesandbigdataanalysis[174]−TheGroupaimstoexpanditscarbonassetdevelopmentandmanagementbusiness,focusingoncarbontrading,carbonoptions,andfutures,toenhanceitsmarketpresence[173]−TheGroupsuccessfullylaunchedacarbon−neutraldigitalplatform,enhancingcapabilitiesincarbonaccounting,trading,planning,andconsulting,contributingtorevenuegrowththroughgovernmentprocurementcontracts[178]ConstructionandEngineering−RevenuefromtheCivilEngineeringandConstructionBusinessreachedHK6,064,000, highlighting varied performance across segments[43] Financial Management and Strategy - The Group plans to continue developing carbon credit assets from existing projects and identify new carbon projects to enhance its carbon credit asset portfolio[30] - The directors believe there will be sufficient financial resources available to meet liabilities as they fall due[32] - The Group aims to improve its gearing by repaying other borrowings to reduce long-term finance costs[30] - The Group's strategy includes holding investments in equity instruments for medium to long-term purposes, rather than for trading, as reflected in the designation of these investments as FVTOCI[78] Carbon Neutral Initiatives - The company is focusing on carbon neutrality initiatives, aligning with market trends towards sustainability[14] - The Group is developing a "Dual Carbon Digital Management and Control Platform" to enhance transparency and efficiency in carbon-neutral development, integrating advanced security technologies and big data analysis[174] - The Group aims to expand its carbon asset development and management business, focusing on carbon trading, carbon options, and futures, to enhance its market presence[173] - The Group successfully launched a carbon-neutral digital platform, enhancing capabilities in carbon accounting, trading, planning, and consulting, contributing to revenue growth through government procurement contracts[178] Construction and Engineering - Revenue from the Civil Engineering and Construction Business reached HK287.5 million, up from HK194.2millioninthepreviousperiod,withagrossprofitmarginof7.4194.2 million in the previous period, with a gross profit margin of 7.4%[191] - The Civil Engineering and Construction Business generated revenue of HK287.5 million for the period, up from HK$194.2 million for the same period last year, representing a growth of approximately 48.1%[193] - The Group was awarded 2 new substantial contracts during the period, including civil engineering works for public housing development projects and improvement works at specific estates[198] - The Group emphasizes sustainable construction principles and has achieved ISO 14001 certification for its environmental management system[193]