Summary by Moomoo AI
Hong Kong Electric Investments and its wholly-owned subsidiary Hong Kong Electric completed the development plan from 2019 to 2023 in the first half of 2024 and initiated a new development plan from 2024 to 2028 to actively promote the transformation of green energy. In March 2024, Hong Kong Electric commissioned a 380 MW gas-fired combined cycle generator unit L12 and retired two coal-fired generator units L4 and L5 in January and June, respectively, increasing the proportion of natural gas power generation to approximately 70%. In the next 5 years, Hong Kong Electric will invest HKD 22 billion in the development of carbon reduction infrastructure, including the construction of a new 380 MW gas-fired combined cycle generator unit L13. As of June 30, 2024, Hong Kong Electric Investments' pre-tax profit was HKD 3.989 billion, and the unverified profit attributable to unit holders was HKD 0.947 billion. The interim dividend is HKD 0.1594 per unit, which will be distributed on September 6, 2024.
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