Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 6,226,137, an increase of 3.4% compared to HKD 6,020,796 for the same period in 2022[4] - Gross profit decreased to HKD 2,549,269, down 20.7% from HKD 3,212,342 in the previous year[4] - Operating profit increased to HKD 2,440,998, representing a growth of 27% from HKD 1,923,875 in the prior period[4] - Profit before tax rose to HKD 2,239,495, up 40.1% from HKD 1,598,853 year-on-year[4] - Net profit for the period was HKD 1,663,117, an increase of 10.1% compared to HKD 1,510,239 in the same period last year[4] - Basic earnings per share increased to HKD 6.36, up from HKD 5.77, reflecting a growth of 10.2%[4] - The company reported a total comprehensive income of HKD 1,666,891 for the period, compared to HKD 1,530,136 in the previous year, marking an increase of 8.9%[5] - The group’s total comprehensive income for the period was HKD 1,663,117, compared to HKD 1,510,239 for the same period in 2022, showing an increase of approximately 10.1%[24] - The group’s profit for the six months ended June 30, 2023, was approximately HKD 1,663,123,000, compared to HKD 1,510,248,000 for the same period in 2022, representing an increase of about 10.1%[34] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 20,967,249, an increase from HKD 19,445,535 at the end of 2022[8] - Non-current assets increased to HKD 18,771,901 from HKD 17,414,747, indicating a growth of 7.8%[7] - Current liabilities rose to HKD 9,217,574, compared to HKD 7,974,309 at the end of 2022, reflecting a 15.6% increase[8] - The total assets for the group as of June 30, 2023, amounted to HKD 27,127,058, compared to HKD 23,710,613 as of December 31, 2022, indicating an increase of approximately 14.3%[24] - The total liabilities for the group as of June 30, 2023, were HKD 7,749,508, up from HKD 5,425,145 as of December 31, 2022, reflecting an increase of approximately 42.9%[24] Cash Flow and Investments - Cash generated from operating activities for the six months ended June 30, 2023, was HKD 2,851,219, down from HKD 3,182,024 in 2022, reflecting a decrease of approximately 10.4%[12] - The net cash used in investing activities was HKD (3,163,299) for the six months ended June 30, 2023, compared to HKD (2,593,123) in the previous year, indicating an increase in investment outflows[12] - The company’s capital expenditures for property, plant, and equipment amounted to HKD (3,270,013), up from HKD (2,040,518) in the previous year, reflecting a 60.5% increase[12] - The total capital expenditure for oil exploration, development, and production activities was approximately HKD 3,415,635,000[76] Dividends and Shareholder Information - The company paid dividends of HKD 1,051,597 during the period, consistent with the previous year[12] - The group declared a special dividend of HKD 0.04 per ordinary share for 2023, amounting to HKD 1,051,597,000, while no interim dividend was declared for the same period in 2022[37] - The total issued and paid-up capital remained stable at HKD 262,899,000 as of June 30, 2023, unchanged from December 31, 2022[56] Production and Exploration - The average daily production of oil equivalent from the group's assets in Pakistan is 44,558 barrels as of the reporting period[72] - The average daily production of oil equivalent from the group's assets in the Middle East and North Africa is 57,069 barrels as of the reporting period[72] - The average daily production reached approximately 170,271 barrels of oil equivalent, a 3.0% increase from 165,338 barrels of oil equivalent in the same period last year[79] - The company achieved 6 commercial discoveries during the reporting period, with 3 in Pakistan, 2 in Egypt, and 1 in Iraq[78] - The average operating daily production in Iraq's B9 block increased by 16.2% to approximately 62,839 barrels of oil equivalent[82] Financial Ratios and Costs - The effective tax rate for the reporting period was approximately 25.7%, an increase of 20.2 percentage points from 5.5% in the previous year[106] - The financing costs for the six months ended June 30, 2023, totaled HKD 143,659, a decrease from HKD 167,950 in the same period of 2022, representing a reduction of about 14.5%[29] - The average daily production target for 2023 is set between 165,000 and 179,000 barrels of oil equivalent, with capital expenditures expected to reach USD 990 million to USD 1.05 billion[114] Corporate Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2023, except for the CEO position being vacant[147] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023, and found them satisfactory[151] Employee and Shareholder Information - The group employed a total of 2,256 full-time employees across various regions including Hong Kong, China, Pakistan, Dubai, and other parts of the Middle East and North Africa as of June 30, 2023[128] - The company granted a total of 20,600,000 shares under the Performance Share Unit (PSU) plan to 55 eligible employees for the 2023 plan year[137]
联合能源集团(00467) - 2023 - 中期财报