中国碳中和(01372) - 2023 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2023, was HK$197,513,000, a decrease of 14.6$231,099,000 in the same period of 2022[5]. - Gross profit increased to HK$16,339,000, up 32.1$12,351,000 year-on-year[5]. - Operating loss for the period was HK$36,835,000, compared to an operating profit of HK$3,523,000 in the previous year[5]. - Loss for the period attributable to owners of the Company was HK$36,294,000, compared to a profit of HK$3,916,000 in 2022[9]. - Total comprehensive expense for the period was HK$39,345,000, significantly higher than HK$2,203,000 in the prior year[9]. - Basic loss per share for the period was HK$9.9 cents, compared to earnings of HK$1.3 cents in the previous year[9]. - The Group reported a loss before tax of HK$36,835,000 for the six months ended June 30, 2023, compared to a profit of HK$3,438,000 in the same period of 2022[34]. - The Group reported a loss attributable to owners of approximately HK$36.3 million for the six months ended 30 June 2023, compared to a profit of approximately HK$3.9 million in 2022[167]. - Basic and diluted loss per share for the six months ended 30 June 2023 were HK$9.9 cents, while in 2022, basic and diluted earnings per share were HK$1.3 cents and HK$5.4 cents respectively[168]. Assets and Liabilities - Non-current assets increased to HK$53,321,000 as of June 30, 2023, compared to HK$33,514,000 at the end of 2022[12]. - Current assets decreased to HK$260,905,000 from HK$281,024,000 at the end of 2022[12]. - Current liabilities increased to HK$160,124,000, up from HK$156,908,000 at the end of 2022[12]. - As of June 30, 2023, total non-current liabilities decreased to HK$87,738,000 from HK$207,399,000 as of December 31, 2022, representing a reduction of approximately 57.7$66,364,000 as of June 30, 2023, compared to net liabilities of HK$49,769,000 at the end of 2022, indicating a turnaround in financial position[13]. - Total equity attributable to owners of the Company reached HK$68,099,000 as of June 30, 2023, up from a deficit of HK$49,146,000 at the end of 2022[13]. - The share capital increased to HK$4,465,000 as of June 30, 2023, compared to HK$3,205,000 at the end of 2022, reflecting a growth of approximately 39.2$1,222,000 in December 2022 to HK$764,000 in June 2023, indicating improved asset quality[71]. - The liability component of convertible bonds decreased to HK$57,529,000 as of June 30, 2023, down from HK$177,544,000 at the beginning of the year, a reduction of 67.6$11,786,000, a significant improvement from a cash outflow of HK$36,199,000 in the same period of 2022[17]. - Total cash flows used in investing activities amounted to HK$21,023,000, compared to HK$12,987,000 in the prior year, reflecting increased investments in subsidiaries and intangible assets[17]. - Cash and cash equivalents at the end of the period were HK$76,595,000, down from HK$84,941,000 at the end of June 2022, indicating a decrease of approximately 9.5$359,000 for the six months ended June 30, 2023, contrasting with a decrease of HK$3,285,000 in the same period of 2022[17]. Share Capital and Equity - The Company issued new shares amounting to HK$15,000,000 during the period, contributing to the increase in share capital[16]. - The company’s share capital increased by HK$800,000 and HK$250,584,000 due to the issuance of 80,000,000 conversion shares in April 2023[132]. - The company’s share premium account increased by HK$125,640,000 from the issuance of 40,000,000 conversion shares in May 2023[133]. - The company’s total issued share capital as of June 30, 2023, was HK$4,465,000, reflecting the impact of recent share issuances[127]. Segment Performance - The Company operates two reportable segments: Global Carbon Neutral Business and Civil Engineering and Construction Business, which are monitored separately for performance assessment[30]. - For the six months ended June 30, 2023, the total segment revenue was HK$197,513,000, a decrease of 14.5$231,099,000 for the same period in 2022[34]. - The Global Carbon Neutral segment generated revenue of HK$3,337,000, significantly down from HK$420,000 in 2022, while the Civil Engineering and Construction segment revenue decreased to HK$194,176,000 from HK$230,679,000[34]. - The revenue of the Global Carbon Neutral Business for 1H2023 was approximately HK$3.3 million, a significant increase from approximately HK$0.4 million in 2022[178]. Carbon Credit and Environmental Initiatives - The Company’s principal activities include trading of carbon-credit assets and development in carbon neutral related fields, which are expected to drive future growth[22]. - The company is focused on carbon capture, utilization, and storage (CCUS) technologies, which are central to its global carbon neutral business strategy[22]. - The Group's carbon neutral business management team consists of experts with extensive experience in financial, asset management, and corporate management fields, enhancing its operational capabilities[184]. - The Group aims to achieve negative carbon emissions of 100 million metric tons each from nature-based solutions and technology-based solutions, contributing to a 2% reduction in China's CO2 emissions[197]. - The Group's investment in afforestation is expected to absorb 100 million metric tons of CO2, while the development of CCUS projects will also reduce 100 million metric tons of CO2 emissions[197]. Acquisitions and Strategic Developments - The Group acquired 73% equity interest in Shenzhen Jianxin Zhuhe Technology Company Limited on March 27, 2023, resulting in significant goodwill recognized[83]. - The acquisition of Jianxin Zhuhe is expected to enhance the company's position in the carbon-neutral business and generate good financial returns[140]. - The Group acquired a 73% equity interest in The Green Credit Technology Co., Ltd., a leading blockchain-based digital technology service provider in China, to enhance carbon-neutral development[193]. Governance and Leadership Changes - The company’s chairman, Ms. Chan Tan Na Donna, resigned on February 20, 2023, indicating potential changes in leadership[69].