蓝河控股(00498) - 2025 - 中期财报

Financial Performance - Revenue for the six months ended September 30, 2024, was HK$21,247,000, a decrease of 28.4$29,672,000 in the same period of 2023[113]. - Gross profit for the period was HK$6,453,000, down 61.5$16,741,000 year-on-year[113]. - Loss before taxation increased to HK$122,617,000 compared to a loss of HK$81,657,000 in the previous year, representing a 50.3% increase in losses[113]. - Total comprehensive expense for the period was HK$183,075,000, compared to HK$101,789,000 in the same period last year, indicating a 80.0% increase in comprehensive losses[115]. - The loss for the period was HK$122,612,000 for the six months ended September 30, 2024, compared to a loss of HK$81,797,000 for the same period in 2023[118]. - The total comprehensive income for the period was a loss of HK$183,073,000 for the six months ended September 30, 2024, compared to a loss of HK$101,807,000 for the same period in 2023[118]. - Basic and diluted loss per share increased to HK$11.8 from HK$7.9, reflecting a 49% increase[169]. - Loss attributable to owners of the Company for the six months ended 30 September 2024 was HK$122,612,000, compared to HK$81,797,000 for the same period in 2023, representing a 50% increase in loss[169]. Segment Performance - Minsheng Natural Gas recorded a segment loss of approximately HK$2 million for the period, an improvement from a loss of HK$6 million in 2023, with CNG sales volume decreasing by 24% to approximately 5.15 million cubic meters[13]. - The property business incurred a segment loss of approximately HK$11 million, slightly better than the HK$13 million loss in 2023, primarily due to fair value changes of investment properties[14]. - The financial services business reported a significant segment loss of approximately HK$88 million, compared to HK$21 million in 2023, mainly due to losses from investee associates[18]. - The Group's revenue from CNG products was HK$21,247,000, compared to HK$28,519,000 in the previous year, indicating a decline[164]. - Rental income remained stable at HK$900,000, unchanged from the previous year[164]. - The segment revenue from ports and logistics was HK$21,247,000, while property revenue was HK$900,000, with no revenue from securities[191]. Assets and Liabilities - As of September 30, 2024, the Group's total assets amounted to approximately HK$793 million, down from HK$976 million as of March 31, 2024[26]. - The Group's cash, bank balances, and deposits were approximately HK$4 million, down from HK$20 million as of March 31, 2024[41]. - Net current liabilities stood at HK$1,657,000, slightly increased from HK$1,488,000 as of March 31, 2024[117]. - Total assets less current liabilities were not specified, but non-current liabilities decreased to HK$745,416,000 from HK$931,555,000[117]. - Net assets decreased to HK$743,225,000 from HK$926,300,000, reflecting a decline of 20.0$43,019,000 to HK$45,507,000, reflecting a 6$11,500,000 to HK$4,225,000, a decline of approximately 63$15,133,000 to HK$17,878,000, representing an increase of 18$37,816,000, compared to HK$33,862,000 for the same period in 2023, indicating an increase in cash outflow[120]. - The net cash generated from investing activities was HK$24,763,000 for the six months ended September 30, 2024, a significant recovery from a net cash outflow of HK$240,572,000 in the same period of 2023[120]. - The net cash used in financing activities was HK$3,194,000, a substantial decrease from HK$455,765,000 in the prior period[152]. Share Capital and Dividends - The total number of issued shares of the Company as of September 30, 2024, was 1,040,946,114 shares with a par value of HK$0.1 each[51]. - The Board resolved not to declare any interim dividend for the six months ended September 30, 2024[46]. - The maximum number of awarded shares under the Share Award Scheme is 110,391,611 shares, which is 10% of the issued share capital at the Adoption Date[75][76]. - The company has not granted or allocated any shares under the Share Award Scheme since its adoption date, and the annual limit of 33,117,483 shares (3% of issued share capital) was not refreshed at the AGM on August 30, 2023[98][101]. - No share awards were granted, vested, exercised, cancelled, or lapsed during the period, resulting in a nil issuance of shares under the Share Award Scheme[101]. Management and Governance - The Audit Committee has reviewed the unaudited condensed consolidated interim financial information and recommended its adoption by the Board[61][83]. - The Company has confirmed compliance with the Model Code for Securities Transactions by Directors during the six-month period ending September 30, 2024[84]. - The Board is structured with a balance of power, with not less than half of its members being independent non-executive Directors[79]. - Mr. Kwong has been serving as both Chairman and CEO since July 1, 2023, following the resignation of the previous CEO[80]. - The Company expresses gratitude to its Board members and staff for their contributions and dedication[86]. Financial Risks - The Group's cautious financial and treasury policy aims to manage risks associated with exchange rates and interest rate fluctuations[26]. - The Group is mainly exposed to foreign exchange risk with respect to Renminbi, which may affect its performance[43]. - The Group has a reasonable expectation of sufficient working capital to continue operational existence for the foreseeable future[159]. Investments - The Group held a 34.72% equity interest in Hope Securities Limited, which is licensed for regulated activities, and shared a loss of approximately HK$16 million during the period[29]. - The Group's investment in Oshidori resulted in an unrealized fair value loss of approximately HK$28 million, impacting the investment revaluation reserve[24]. - As of September 30, 2024, the Group's investment in Oshidori Holdings Limited amounted to 465,000,000 shares, representing approximately 7.5% of Oshidori's issued share capital, with a fair value of about HK$60 million, accounting for approximately 7.6$130 million, with an accumulated unrealized fair value loss of about HK$70 million[31]. - In October 2024, the Company disposed of 159,000,000 Oshidori shares for a total consideration of HK$27,030,000, reducing its shareholding in Oshidori to 4.9%[32]. - The average price per Oshidori share during the disposal was HK$0.17[34]. - The Group's equity interest in Hope Capital Limited increased from approximately 22.99$18,051,000 due to the deemed acquisition of additional interest in the associate[199].