Financial Performance - For the six months ended September 30, 2021, the gross proceeds from the disposal of trading securities amounted to HK$4,487,000, an increase of 88.0% compared to HK$2,388,000 in the same period of 2020[11]. - Revenue for the same period was HK$4,051,000, representing a 29.4% increase from HK$3,129,000 in 2020[11]. - The net loss on financial assets at fair value through profit or loss was HK$4,077,000, significantly improved from a loss of HK$20,270,000 in the previous year[11]. - The total comprehensive loss attributable to owners of the Company for the period was HK$1,998,000, a substantial reduction from HK$19,002,000 in the prior period[11]. - Basic and diluted loss per share decreased to 0.16 cents from 1.49 cents year-over-year[11]. - For the six months ended 30 September 2021, the Group reported a loss attributable to owners of approximately HK$1,998,000, a significant improvement from a loss of HK$19,002,000 in the same period of 2020, representing a reduction of approximately 89.5%[45][47]. - The decrease in net loss was primarily due to a reduction in realized and unrealized losses on financial assets at fair value through profit or loss, which amounted to approximately HK$4.1 million for the period, compared to HK$20.3 million in the previous corresponding period[99]. Assets and Equity - As of September 30, 2021, the Group's net assets were HK$102,688,000, down from HK$104,686,000 as of March 31, 2021[13]. - The Group's total equity as of September 30, 2021, was HK$102,688,000, compared to HK$104,686,000 as of March 31, 2021[13]. - The Group's net assets as of 30 September 2021 were approximately HK$102,688,000, a slight decrease from HK$104,686,000 as of 31 March 2021[56][58]. - The fair value of listed equity securities in Hong Kong was HK$95,445,000 as of 30 September 2021, down from HK$99,852,000 as of 31 March 2021, reflecting a decrease of approximately 4.5%[49][50]. - The fair value of unlisted equity securities increased to HK$1,898,000 as of 30 September 2021, compared to HK$1,450,000 as of 31 March 2021, representing an increase of approximately 30.9%[49][51]. Cash Flow and Liquidity - The cash and bank balances increased to HK$3,601,000 from HK$1,772,000 at the end of the previous reporting period[13]. - For the six months ended September 30, 2021, the net cash used in operating activities was HK$2,222,000, an improvement from HK$5,324,000 in the same period of 2020[18]. - The cash and cash equivalents at the end of the period increased to HK$3,601,000 from HK$3,550,000 at the end of the previous period, indicating a slight growth[18]. - The Group's cash levels as of September 30, 2021, were approximately HK$3,600,000, compared to HK$1,770,000 as of March 31, 2021, indicating healthy liquidity[100]. Investment Strategy - The Group operates solely in the investment holding and trading of securities, with all revenue derived from the Hong Kong market[31]. - The Group's short-term strategy focuses on trading listed securities to maintain sufficient dividend levels, while the long-term strategy aims to balance listed and unlisted investments for better returns[103]. - The Group plans to conduct further reviews on the acquisition of unlisted equity investments in the future[103]. - The Group remains cautiously optimistic about the outlook for global and Hong Kong equity markets, considering investments in higher-yield listed securities while maintaining sufficient liquidity for future opportunities[115][116]. Related Party Transactions - The amount due from related companies increased to HK$939,000 from HK$810,000[13]. - Investment management fees paid to a related company amounted to HK$807,000 for the period, a decrease from HK$836,000 in the same period of 2020, representing a decline of approximately 3.5%[62]. - The Group's transactions with connected parties were carried out in the normal course of business on mutually agreed terms[77]. Market Conditions - The Group expects challenges in global stock markets due to uncertainties surrounding the U.S. interest rate hike timetable and new regulations in China, alongside the impact of COVID-19 infections on Hong Kong's economy[114][116]. - The Hang Seng Index decreased sharply by 13.40% from 28,378 at the end of March 2021 to 24,575 at the end of September 2021, primarily due to negative impacts from COVID-19 and increased regulations in various sectors[111]. Dividend Policy - The Group did not declare any interim dividend for the six months ended 30 September 2021, consistent with the previous year[57][59]. - No performance fee was recorded for the six months ended 30 September 2021 and 2020, with management fees included under administrative expenses[66].
开明投资(00768) - 2022 - 中期财报