Shandong Hi-Speed Holdings Group (412) H1 2024 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2024 was HK$3,069 million, nearly flat year-over-year, with gross profit of HK$1,562 million, down from HK$1,662 million.

• Net loss attributable to owners was HK$394 million, compared to a net loss of HK$294 million in the same period last year.

• Total comprehensive loss attributable to owners was HK$884 million, reflecting significant fair value and exchange losses.

• The group maintained sufficient liquidity, with cash and cash equivalents of HK$11,912 million as of 30 June 2024.

• No interim dividend was declared for the period.

Financial highlights

• Revenue: HK$3,069 million (2023: HK$3,074 million).

• Gross profit: HK$1,562 million (2023: HK$1,662 million).

• Net loss attributable to owners: HK$394 million (2023: HK$294 million).

• Basic and diluted loss per share: HK$(6.54) cents (2023: HK$(4.89) cents).

• Total assets: HK$78,842 million (31 Dec 2023: HK$72,738 million).

Outlook and guidance

• The group expects a favorable monetary and financial environment in China as global tightening winds down.

• High-tech manufacturing and infrastructure investments are anticipated to drive moderate domestic growth in the second half of 2024.

• Focus remains on green industry investment, new energy, and new infrastructure, leveraging policy and market opportunities.

• Strategic emphasis on building a collaborative ecosystem and enhancing investee company value.