电能实业(00006) - 2023 - 中期财报

Financial Performance - The company's unaudited profit attributable to shareholders for the six months ended June 30, 2023, was HKD 2,959 million, an increase from HKD 2,871 million in the same period of 2022, representing a growth of approximately 3.1%[2] - Earnings per share for the period was HKD 1.39, compared to HKD 1.35 in the previous year, reflecting a year-on-year increase of about 2.96%[2] - The group reported a revenue of HKD 662 million for the six months ended June 30, 2023, compared to HKD 598 million for the same period in 2022, representing an increase of 10.7%[22] - Operating profit for the same period was HKD 750 million, up from HKD 571 million in 2022, reflecting a growth of 31.4%[22] - The group’s profit before tax for the six months ended June 30, 2023, was HKD 3,061 million, compared to HKD 2,969 million for the same period in 2022, reflecting a 3.1% increase[32] - The total comprehensive income for the six months ended June 30, 2023, was HKD 5,783 million, compared to HKD 4,347 million for the same period in 2022, representing a 33.1% increase[25] Dividends - The interim dividend declared is HKD 0.78 per share, unchanged from the previous year[8] - The company declared an interim dividend of HKD 1,662 million for the six months ended June 30, 2023, compared to HKD 1,665 million for the same period in 2022, reflecting a slight decrease of 0.2%[25] - The interim dividend for the year 2023 is declared at HKD 0.78 per share, payable on September 12, 2023[71] Operational Highlights - The UK operations contributed HKD 1,398 million to profit, down from HKD 1,433 million in 2022, impacted by regulatory resets and rising financing costs[9] - In Hong Kong, the profit contribution from Power Assets' operations was HKD 328 million, up from HKD 298 million in 2022, driven by a 3% increase in electricity sales[10] - The new liquefied natural gas receiving terminal in Hong Kong commenced commercial operations in July 2023, with a storage capacity of 263,000 cubic meters[10] - The group is enhancing network capacity to accommodate large-scale solar power trends, including the launch of a neighborhood battery project in Melbourne, providing power for up to 170 households for 3 hours during peak times[11] - The group’s gas operations are performing well, with the Dampier Bunbury Pipelines compressor station achieving a reliability rate of 99.61%[12] Investments and Financial Position - Capital expenditures and investments are primarily funded by cash generated from operations, with total unsecured bank loans amounting to HKD 3.269 billion as of June 30, 2023[17] - The group’s bank deposits and cash stood at HKD 3.970 billion as of June 30, 2023, down from HKD 5.894 billion at the end of 2022[17] - The group plans to seek suitable investment opportunities in stable and well-regulated energy markets to support long-term growth[16] - The group’s total assets less current liabilities amounted to HKD 92,035 million as of June 30, 2023, compared to HKD 90,489 million at the end of 2022[24] - The group’s total equity attributable to shareholders was HKD 88,293 million as of June 30, 2023, an increase from HKD 86,857 million on December 31, 2022[24] Sustainability and Regulatory Compliance - The company is in discussions with the government regarding the 2024-2028 development plan and the mid-term review of the current regulatory framework, aiming for long-term investment in decarbonization projects[10] - The group is focusing on sustainable development, including hydrogen integration in heating fuels, with projects in the UK and Australia aiming for significant hydrogen production by 2025[15] - The group is committed to supporting government initiatives for net-zero carbon targets and enhancing power networks to accommodate renewable energy[16] Corporate Governance - The board consists of 13 directors, including 6 executive directors, 2 non-executive directors, and 5 independent non-executive directors, complying with the requirement that independent non-executive directors represent at least one-third of the total board members[51] - The company has adhered to the corporate governance code as stipulated in the Hong Kong Stock Exchange Listing Rules for the six months ending June 30, 2023[50] - The company has established a whistleblowing procedure to handle reports of financial reporting, internal controls, or other misconduct[56] - The audit committee, composed of 3 independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2023[56] Shareholder Information - As of June 30, 2023, the company had a total of 2,131,105,154 shares issued, with significant shareholdings reported by directors and executives[64] - Major shareholders include Hyford Limited, holding 767,499,612 shares, representing 36.01% of the total equity[69] - The company has a shareholder communication policy to establish a framework for effective communication with shareholders and investors[62] - The company allows shareholders to request changes in the language version of communications, enhancing accessibility[62]