电能实业(00006) - 2022 - 中期财报

Financial Performance - The unaudited profit for the first six months of 2022 was HKD 2,871 million, representing a 14% increase from HKD 2,509 million in 2021[8] - Operating cash flow for the first half of 2022 totaled HKD 2,973 million, up 16% from HKD 2,570 million in 2021[8] - The profit attributable to shareholders for the six months ended June 30, 2022, was HKD 2,871 million, an increase of 14.4% compared to HKD 2,509 million in 2021[28] - The basic and diluted earnings per share increased to HKD 1.35 from HKD 1.18, reflecting a growth of 14.4%[28] - Total comprehensive income for the six months ended June 30, 2022, was HKD 4,347 million, up from HKD 5,875 million in the previous year, indicating a decrease of 26.0%[31] - The company's cash and cash equivalents as of June 30, 2022, stood at HKD 3,201 million, compared to HKD 2,835 million at the end of June 30, 2021, marking an increase of 12.9%[32] - The company's total equity as of June 30, 2022, was HKD 86,760 million, compared to HKD 84,766 million as of June 30, 2021, reflecting an increase of 2.3%[31] - The company's non-current bank loans as of June 30, 2022, were HKD 3,356 million, slightly down from HKD 3,433 million as of December 31, 2021, a decrease of 2.2%[54] Dividends - The interim dividend declared is HKD 0.78 per share, consistent with the previous year[9] - The company declared an interim dividend of HKD 1,665 million for the six months ended June 30, 2022, consistent with the previous year's interim dividend[31] - The interim dividend for the year 2022 is declared at HKD 0.78 per share, to be distributed on September 14, 2022[89] Operational Highlights - The UK operations contributed HKD 1,433 million in profit, an increase from HKD 1,122 million in 2021, primarily due to non-cash adjustments related to deferred tax[10] - The Australian operations generated a profit contribution of HKD 671 million, compared to HKD 630 million in 2021[12] - The group reported a profit contribution of HKD 298 million from Power Assets Holdings in Hong Kong, with a 6.8% decrease in electricity sales compared to the same period in 2021 due to the pandemic and mild weather[18] - The Jabiru hybrid renewable energy power station in Northern Territory is completed, expected to supply at least 50% renewable energy to Jabiru[14] Cash Flow and Investments - The net cash level of the group was HKD 738 million as of June 30, 2022, down from HKD 1.177 billion at the end of 2021[23] - The net cash generated from operating activities was HKD 302 million for the first half of 2022, compared to HKD 221 million in the same period of 2021, reflecting a 36.7% increase[32] - The company invested HKD 266 million in joint ventures during the first half of 2022, slightly down from HKD 270 million in the same period of 2021[32] - The company received dividends from joint ventures amounting to HKD 2,023 million in the first half of 2022, compared to HKD 1,530 million in the previous year, representing a significant increase of 32.2%[32] Financial Position - The group’s financial position remains strong, with a diversified business model to mitigate impacts from global market fluctuations[8] - The group’s financial position remains strong, with a stable long-term credit rating of A from Standard & Poor's since 2018[23] - The total value of financial derivative contracts outstanding as of June 30, 2022, was HKD 33.52 billion, down from HKD 34.47 billion at the end of 2021[25] - The fair value of financial derivative instruments as of June 30, 2022, was HKD 2.474 billion, significantly up from HKD 1.112 billion at the end of 2021[24] - The net assets of the group as of June 30, 2022, were HKD 86.76 billion, slightly down from HKD 86.77 billion at the end of 2021[30] Sustainability and Projects - The group is actively involved in hydrogen projects and has integrated its 20th biomethane operating site into the gas network, achieving a total biomethane gas supply capacity of 1.87 billion kWh[11] - The group’s renewable energy generation capacity will be enhanced to support Hong Kong's net-zero emissions target, with a feasibility study for a 150 MW offshore wind farm underway[20] - The group’s two wind farms in Yunnan and Hebei offset 96,800 tons of carbon emissions over a six-month period[17] - The group is committed to sustainable development strategies, including the use of renewable energy and hydrogen blending for green heating[19] Corporate Governance - The company maintained compliance with corporate governance codes as per the Hong Kong Stock Exchange regulations during the reporting period[66] - The board consists of 13 members, including 6 executive directors, 2 non-executive directors, and 5 independent non-executive directors as of June 30, 2022[67] - The audit committee is composed of 3 independent non-executive directors, with the chairman being Mr. Ye Yuqiang, and it is responsible for reviewing the group's financial reporting and overseeing external auditor relationships[72][73] - The company has a structured approach to corporate governance, with various committees established to enhance oversight and accountability[72] - The company has established a risk management and internal control system, which was reviewed by the audit committee and deemed effective and sufficient as of June 30, 2022[79]