Financial Performance - For the six months ended June 30, 2023, the company reported a loss attributable to owners of the company of HKD 117,400,000, compared to a loss of HKD 109,947,000 for the same period in 2022, representing an increase in loss of approximately 4.1%[9] - The company reported a mid-term revenue from continuing operations of HKD 14,339,000 and a mid-term loss of HKD 4,368,000 if the acquisition of Wuhan Junyi had been completed on January 1, 2023[33] - Other income and losses resulted in a net loss of HKD 117.5 million, compared to a net loss of HKD 90.9 million in 2022, primarily due to unrealized fair value losses on investments[69] - The group reported an unrealized loss of HKD 22.6 million on investment properties, compared to a gain of HKD 1.7 million in 2022[84] - The group's loss attributable to owners for the six months ended June 30, 2023, was HKD 117.4 million, compared to HKD 109.9 million in 2022, primarily due to unrealized losses on investments[93] Revenue and Income - For the six months ended June 30, 2023, the property investment segment recorded rental income of HKD 14 million, a decrease from HKD 14.6 million in 2022, primarily due to the negative impact of GBP depreciation on rental income from Scotland[62] - The automotive segment generated revenue of HKD 11.7 million in the first half of 2023, reflecting the financial contribution from the acquisition of Wuhan Junyi Automobile Sales Service Co., Ltd. in February 2023[63] - The group recorded a rental income of HKD 11 million from investment properties in Hong Kong and Scotland, down from HKD 13.5 million in 2022[84] Assets and Liabilities - The fair value of investment properties as of June 30, 2023, was HKD 468,390,000, down from HKD 579,155,000 as of January 1, 2022, reflecting a fair value loss of HKD 55,449,000[12] - As of June 30, 2023, the group's bank balance and cash amounted to HKD 27.2 million, down from HKD 42.8 million as of December 31, 2022[71] - The debt-to-equity ratio increased from 95.4% as of December 31, 2022, to 136.0% as of June 30, 2023, reflecting total borrowings of HKD 383.7 million and total equity of HKD 282.1 million[73] - As of June 30, 2023, the group's bank deposits and properties totaled HKD 470.4 million, a slight decrease from HKD 471.7 million as of December 31, 2022[78] Borrowings and Financial Costs - The company obtained a new loan of HKD 12,000,000 during the period, with an interest rate of 9%, maturing on April 17, 2025[29] - The group successfully secured borrowings of HKD 12 million and received an interest-free loan of HKD 11.6 million from an affiliate during the period[70] - Financial costs increased to HKD 7.7 million, up from HKD 6.5 million in 2022, mainly due to higher interest expenses on bank and other borrowings[90] Shareholder Information - The weighted average number of ordinary shares used to calculate diluted loss per share was 5,292,515,390 for both periods ended June 30, 2023, and June 30, 2022[9] - As of June 30, 2023, the total number of issued shares is 5,292,515,390, with major shareholders holding significant stakes, including 鼎珮投資集團有限公司 at 28.70%[143] - The company’s major shareholder, Ms. Mai Siu-Hin, directly holds approximately 22.94% of the issued share capital and indirectly holds about 5.76% through Maini Investments Limited, totaling approximately 28.7%[169] Corporate Governance - The company maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange during the reporting period[155] - The company has complied with the corporate governance code, ensuring the roles of chairman and CEO are separate[178] - The remuneration committee includes independent non-executive directors and is chaired by Mr. Du Zhenwei[187] Acquisitions and Business Development - The company acquired a subsidiary during the period, recognizing a right-of-use asset of HKD 5,712,000, compared to zero in 2022[14] - The acquisition of Wuhan Junyi was completed on February 17, 2023, and its financial statements have been consolidated with the group[53] - The company completed the acquisition of 武漢駿意 in February 2023, expanding its Maserati dealership network in China[129] - The group has opened a new Maserati 4S dealership in Wuhan, China, covering 47,000 square feet, enhancing its service offerings[107] - The group is actively seeking investment targets within the CDMO value chain, focusing on cell line development and media formulation[110] - The group plans to continue exploring potential business opportunities to deliver long-term value growth for shareholders amid economic uncertainties[111] Employee Information - As of June 30, 2023, the company employed a total of 34 staff in Hong Kong and mainland China, emphasizing the importance of employees for sustainable business development[126] Stock Options and Securities - The company reported a total of 60,000,000 unexercised stock options granted under the expired stock option plan as of June 30, 2023[147] - A total of 90,700,000 stock options were granted to the group's advisors, with 300,700,000 options remaining unexercised as of June 30, 2023[151] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2023[154] Changes in Management - The company experienced a change in its board of directors, with Mr. Huang Ruishen resigning as an executive director effective July 27, 2023[150] - Mr. Ng Chiu-Wai resigned as an executive director on July 27, 2023, resulting in the expiration of 18,000,000 share options granted to him[174] - Dr. Shen Zhongping was appointed as an independent non-executive director and member of the audit, nomination, and remuneration committees effective May 24, 2023[183] Other Information - The company did not declare or propose any dividends for the periods ended June 30, 2023, and June 30, 2022[11] - The company did not declare an interim dividend for the six months ended June 30, 2023, compared to no dividend declared in 2022[137] - The company has successfully renewed its lending license in February 2023, ensuring adequate financial infrastructure for its financial services sector[131] - The interim financial statements have been reviewed but not audited, indicating ongoing financial oversight[197]
意达利控股(00720) - 2023 - 中期财报