Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 6,918,479,000, a decrease of 7.6% compared to HKD 7,486,998,000 in the same period of 2022[3]. - The operating profit for the same period was HKD 2,114,900,000, down 57.8% from HKD 5,008,198,000 year-on-year[3]. - The net profit for the period was HKD 626,331,000, representing a decline of 46.9% compared to HKD 1,181,502,000 in the previous year[5]. - Total revenue for the six months ended June 30, 2023, was HKD 6,918,479,000, with the toll road and environmental business contributing HKD 4,633,655,000[14]. - The group’s net profit for the period was HKD 626,331,000, after accounting for tax expenses of HKD 493,189,000[14]. - The company reported a net profit attributable to ordinary shareholders of HKD 92,045 for the six months ended June 30, 2023, down from HKD 581,575 in the same period of 2022, indicating a significant decline of approximately 84.2%[21]. - The company’s basic earnings per share for the six months ended June 30, 2023, was HKD 0.04, a decrease from HKD 0.26 in the same period of 2022[21]. - The company’s financial income for the six months ended June 30, 2023, was a net loss of HKD 110,430, compared to a loss of HKD 175,262 in the same period of 2022[18]. - The company incurred total financial costs of HKD 1,556,714 for the six months ended June 30, 2023, which is consistent with HKD 1,556,545 in the previous year[18]. - The company’s net profit from toll road operations increased by 11% year-on-year to HKD 1.238 billion[80]. Assets and Liabilities - The company's total assets decreased to HKD 127,148,517,000 as of June 30, 2023, from HKD 133,494,925,000 at the end of 2022, a reduction of 4.7%[7]. - The total equity attributable to ordinary shareholders was HKD 29,313,389,000, down from HKD 31,247,864,000, a decrease of 6.2%[6]. - The carrying amount of intangible assets decreased from HKD 32,922,243,000 to HKD 28,197,571,000, a reduction of approximately 14%[24]. - The debt-to-equity ratio increased to 76%, up 4 percentage points compared to the end of 2022, primarily due to increased borrowing for investment activities[99]. - Total borrowings amounted to approximately HKD 50.18 billion, a decrease of 7% from the end of 2022[107]. - Cash reserves decreased by 24% to approximately HKD 10.65 billion from HKD 14.03 billion at the end of 2022, mainly due to repayment of high-interest loans[101]. Cash Flow and Capital Expenditure - Net cash inflow from operating activities was approximately HKD 1.63 billion, while net cash outflow from investing activities was about HKD 1.87 billion, and net cash outflow from financing activities was around HKD 2.49 billion[100]. - Capital expenditures for the period were approximately RMB 3.7 billion (equivalent to HKD 4 billion), with expected capital expenditures for the second half of 2023 projected at RMB 5.6 billion (equivalent to HKD 6.1 billion)[102]. - The company maintains a cash and unused bank credit line of approximately HKD 88.4 billion, ensuring sufficient liquidity for operations and business expansion[109]. Business Segments and Operations - The company continues to focus on its core businesses in toll roads and logistics within the People's Republic of China[8]. - The logistics business segment includes third-party logistics and logistics information services, contributing to overall revenue growth[12]. - The company is actively pursuing new investment opportunities in the logistics sector, particularly in smart warehousing and cold chain logistics, to enhance revenue streams[93]. - The company is focused on developing smart logistics and cold chain logistics as key growth areas, aiming to enhance its logistics business and supply chain quality[54]. - The company is implementing a "investment-construction-financing-management" closed-loop business model to enhance logistics port asset securitization and reduce debt ratios[51]. Shareholder Information - The group’s major shareholder, Shenzhen Investment Holdings, holds approximately 44.25% of the company’s issued shares[9]. - The board decided not to declare an interim dividend for the period, with a total final dividend of HKD 613,667,000 paid in June 2023[23]. - The company issued 5,339,689 new shares at approximately HKD 6.714 each, totaling HKD 35,851,000 as part of the scrip dividend scheme[23]. Market Conditions and Future Outlook - The company anticipates challenges in the second half of 2023 due to insufficient domestic demand and operational difficulties faced by some enterprises[90]. - The logistics industry is experiencing a slowdown, with national logistics warehouse rental rates declining and vacancy rates increasing due to weak economic recovery and low consumer demand[91]. - The company aims to maintain a high occupancy rate for its parks, targeting to keep the rental rate above 90% for parks operating for over a year[92]. - The company is committed to enhancing operational efficiency in its toll road and environmental protection businesses, with a focus on cost reduction and project profitability[96]. - The company is implementing a comprehensive strategy to strengthen financial control and risk management, aiming to enhance core competitiveness and ensure long-term stable development[97].
深圳国际(00152) - 2023 - 中期业绩