Newly founded (659) is the infrastructure and service flagship of New World Development (17), operating across Hong Kong, mainland China and Macau. As of the year ending June this year, the Group's infrastructure business should account for operating profit up 8% year-on-year to 2,625 billion yuan, accounting for nearly 60% of the total; the service division fell 6% to 1,832 billion yuan. In February of this year, the group acquired 40% of Goshawk's shares and expanded its business to aircraft leasing. During the period, Goshawk's fleet increased to 40 aircraft, and began providing profit contributions. At the same time, Beijing Capital International Airport and Xiamen Container Terminal Group contributed their first full-year earnings, and the share of port and logistics operations in operating profit increased by 41%.
Also, the joint venture formed by the Group and the French Suez Group, which cooperated to invest in Derun Environment, held an unveiling ceremony in Chongqing at the beginning of last month. Dejun Environmental's total assets and cash value is approximately RMB 30 billion. It mainly engages in environmental protection operations such as drinking water and sewage treatment, waste conversion to energy, and recycling and utilization of renewable resources. The relevant work is in line with the general direction of national policy, and the prospects are promising.
In order to reallocate resources to its core business, the Group sold 12.5% of the shares in New Mining Resources (1231) and its holdings were reduced to 35.5%. However, the group still needed to confirm further depreciation losses and partial sales losses on account value, totaling 1.9 billion yuan. Also, since the traffic flow on the Guangzhou Dongxin Expressway was lower than expected, the group needed to share the impairment loss of 300 million yuan. Since the above impairment losses are all non-cash items, there is no impact on the Group's cash flow and operations. Last year, net cash generated by group operating activities was 2,795 million yuan, and cash on hand was 10.406 billion yuan. The net debt ratio fell 9 percentage points to 14%.
The group's total dividend last year was 0.6 yuan per share, and the current interest rate was 5.4%, which is quite attractive. In terms of trend, it stopped falling to 10.4 yuan on November 27 and rebounded again. The STC%K line rose through the %D line, the MACD bear gap narrowed, and the short-term trend continued to improve. Taking into account the absorption of 10.6 yuan, the medium line expected 11.9 yuan, and continued holding without falling below 10.2 yuan.
