Summary by Moomoo AI
Hong Kong Electric Investments Limited (HK Electric) released its mid-year report for 2024, indicating that its revenue increased from HKD 5.229 billion in 2023 to HKD 5.572 billion. The total distribution remains unchanged at HKD 1.408 billion, with a mid-year distribution per share unit of 15.94 HK cents. The report pointed out that HK Electric has made progress in energy transformation, with a 380 MW gas-fired combined cycle generator commissioned in 2024, and two coal-fired generators retired, increasing the proportion of natural gas power generation to about 70%. In addition, HK Electric will invest HKD 22 billion in the next five years to expand carbon reduction infrastructure and strengthen other facilities. Half-year results show that the unaudited profit before interest, tax, depreciation, and amortization is HKD 3.989 billion, and the unaudited profit attributable to unit holders is HKD 0.947 billion. The mid-year distribution will be paid on September 6, 2024.
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