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坛金矿业(00621) - 2025 - 中期财报
00621TAUNG GOLD(00621)2024-12-18 08:46

Financial Performance - The company reported a net loss of HKD 8.539 million for the six months ended September 30, 2024, compared to a net loss of HKD 9.904 million in the same period last year[5] - Total comprehensive income for the period was HKD 168.414 million, a significant improvement from a comprehensive loss of HKD 181.751 million in the previous year[5] - Basic and diluted loss per share for the period was HK 0.04 cents, an improvement from HK 0.05 cents in the same period last year[8] - The company reported a basic and diluted loss per share of HK0.04fortheperiod,comparedtoHK0.04 for the period, compared to HK0.05 in the same period last year[60] - Total pre-tax loss for the period was HK8.539million,includingunallocatedotherincomeofHK8.539 million, including unallocated other income of HK1.008 million and unallocated corporate expenses of HK5.441million[36]−Totalpre−taxlossimprovedfromHK5.441 million[36] - Total pre-tax loss improved from HK9.904 million in 2023 to HK8.539millionin2024[39]−OtherincomedecreasedfromHK8.539 million in 2024[39] - Other income decreased from HK1.593 million in 2023 to HK1.157millionin2024,primarilyduetolowerbankdepositinterestincome[42]−Netothergainsandlossesimprovedsignificantly,fromanetlossofHK1.157 million in 2024, primarily due to lower bank deposit interest income[42] - Net other gains and losses improved significantly, from a net loss of HK301,000 in 2023 to a net gain of HK354,000in2024[42]−Employeecosts(includingdirectors′remuneration)decreasedslightlyfromHK354,000 in 2024[42] - Employee costs (including directors' remuneration) decreased slightly from HK5.652 million in 2023 to HK5.474millionin2024[47]AssetsandLiabilities−Thecompany′sminingassetsincreasedtoHKD2.707billionasofSeptember30,2024,upfromHKD2.529billionasofMarch31,2024[11]−TotalassetslesscurrentliabilitiesstoodatHKD2.832billionasofSeptember30,2024,comparedtoHKD2.663billionasofMarch31,2024[11]−Thecompany′sequityattributabletoownersincreasedtoHKD2.261billionasofSeptember30,2024,fromHKD2.128billionasofMarch31,2024[13]−Non−controllinginterestsinthecompany′sequityrosetoHKD558.533millionasofSeptember30,2024,upfromHKD523.292millionasofMarch31,2024[13]−Thecompany′sreservesincreasedtoHKD2.079billionasofSeptember30,2024,comparedtoHKD1.946billionasofMarch31,2024[13]−Thecompany′scapital−to−debtratiois0asofSeptember30,2024,withtotalassetsofHKD2,839,791,000[62]−ThecompanyhasnooutstandingbankborrowingsorbankfinancingasofSeptember30,2024[62]CashFlowandLiquidity−OperatingcashoutflowincreasedtoHKD21.485millioninthesixmonthsendedSeptember30,2024,comparedtoHKD11.302millioninthesameperiodin2023[17]−CashandcashequivalentsdecreasedbyHKD24.745millioninthesixmonthsendedSeptember30,2024,comparedtoadecreaseofHKD12.009millioninthesameperiodin2023[17]−Thecompany′scashandcashequivalentsattheendoftheperiodwereHKD84.179million,downfromHKD108.868millionatthebeginningoftheperiod[17]−CashandcashequivalentsdecreasedtoHKD84,179,000asofSeptember30,2024,fromHKD108,868,000onMarch31,2024[62]FinancialReportingStandards−ThecompanyappliednewHongKongFinancialReportingStandards(HKFRS)amendmentseffectivefromApril1,2024,withnosignificantimpactonfinancialperformance[25]−ThecompanyexpectsthattheadoptionoffutureHKFRSamendmentswillnothaveamaterialimpactonitsfinancialstatements,exceptforcertainspecificamendments[27]−ThecompanyisevaluatingtheimpactofHKFRS9amendmentsrelatedtotheclassificationandmeasurementoffinancialinstruments,whichmayaffectdisclosuresbutnotfinancialperformance[29]−HKFRS18,whichwillreplaceHKAS1,aimstoimprovetransparencyandcomparabilityoffinancialperformancedata,withpotentialimpactsonthecompany′sfinancialstatementpresentation[30]MiningProjects−ThecompanyreportedasegmentlossofHK5.474 million in 2024[47] Assets and Liabilities - The company's mining assets increased to HKD 2.707 billion as of September 30, 2024, up from HKD 2.529 billion as of March 31, 2024[11] - Total assets less current liabilities stood at HKD 2.832 billion as of September 30, 2024, compared to HKD 2.663 billion as of March 31, 2024[11] - The company's equity attributable to owners increased to HKD 2.261 billion as of September 30, 2024, from HKD 2.128 billion as of March 31, 2024[13] - Non-controlling interests in the company's equity rose to HKD 558.533 million as of September 30, 2024, up from HKD 523.292 million as of March 31, 2024[13] - The company's reserves increased to HKD 2.079 billion as of September 30, 2024, compared to HKD 1.946 billion as of March 31, 2024[13] - The company's capital-to-debt ratio is 0 as of September 30, 2024, with total assets of HKD 2,839,791,000[62] - The company has no outstanding bank borrowings or bank financing as of September 30, 2024[62] Cash Flow and Liquidity - Operating cash outflow increased to HKD 21.485 million in the six months ended September 30, 2024, compared to HKD 11.302 million in the same period in 2023[17] - Cash and cash equivalents decreased by HKD 24.745 million in the six months ended September 30, 2024, compared to a decrease of HKD 12.009 million in the same period in 2023[17] - The company's cash and cash equivalents at the end of the period were HKD 84.179 million, down from HKD 108.868 million at the beginning of the period[17] - Cash and cash equivalents decreased to HKD 84,179,000 as of September 30, 2024, from HKD 108,868,000 on March 31, 2024[62] Financial Reporting Standards - The company applied new Hong Kong Financial Reporting Standards (HKFRS) amendments effective from April 1, 2024, with no significant impact on financial performance[25] - The company expects that the adoption of future HKFRS amendments will not have a material impact on its financial statements, except for certain specific amendments[27] - The company is evaluating the impact of HKFRS 9 amendments related to the classification and measurement of financial instruments, which may affect disclosures but not financial performance[29] - HKFRS 18, which will replace HKAS 1, aims to improve transparency and comparability of financial performance data, with potential impacts on the company's financial statement presentation[30] Mining Projects - The company reported a segment loss of HK4.068 million in gold exploration and development in South Africa for the six months ended September 30, 2024[36] - Compared to the same period in 2023, the segment loss in gold exploration and development decreased from HK4.802milliontoHK4.802 million to HK4.068 million[39] - The Jeanette project has a total capital cost of USD 1,252 million over a 22-year mine life, with a cash operating cost of USD 521 per ounce[72] - The Evander project has a total capital cost of USD 1,126 million over a 20-year mine life, with a cash operating cost of USD 704 per ounce[80] - Expenditure on the Jeanette project during the period ending September 30, 2024, was ZAR 5.22 million[74] - Expenditure on the Evander project during the period ending September 30, 2024, was ZAR 2.91 million[84] - Jeanette project financing arrangements are expected to be finalized between Q3 2024 and Q2 2025, with construction set to begin in Q3 2025 and production starting in 2028[92] - Evander project construction is planned to commence in 2027, with production expected to start in 2032 and continue until 2049[94] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code as outlined in Appendix C1 of the Listing Rules for the six months ended September 30, 2024[108] - No directors or key executives held any interests or short positions in the company's shares or related securities as of September 30, 2024[100] - The company has no knowledge of any employees violating the written guidelines on securities trading[110] - The audit committee, consisting of three independent non-executive directors, discussed accounting principles, internal controls, risk management, and financial reporting with the company's management[111] - The audit committee reviewed and discussed the unaudited consolidated financial statements for the six months ended September 30, 2024, with the company's management[111] - The company or its subsidiaries did not purchase, sell, or redeem any shares or other listed securities during the reporting period[112] Shareholding and Ownership - Goldborn Holdings Limited holds 11.03% of the company's issued shares as of September 30, 2024[102] - Mandra Materials Limited, Mandra Esop Limited, and Woo Foong Hong Limited collectively hold 5.89% of the company's issued shares, with Zhang Songyi owning 50% of these entities[102] - The company has not issued or exercised any share options under the 2020 Share Option Plan as of September 30, 2024[99] Risk Management and Strategy - The company focuses on reducing business risks by maintaining long-term relationships with established clients[62] - The company is monitoring foreign exchange risks and may consider hedging if deemed necessary[65] - The company is identifying short-term gold mining assets for potential acquisition[67] - The company is engaging with potential investors, including Chinese state-owned enterprises, for investment in its mining assets, with several confidentiality agreements signed[94] Employee and Operational Details - The total number of employees as of September 30, 2024, is 24, consistent with the previous count on March 31, 2024[98] - No interim dividend was declared for the six months ended September 30, 2024, consistent with the previous year's policy[61] - The report was issued by the Chairman and Executive Director of Tanjin Mining Limited on November 28, 2024[113]