Financial Performance - Revenue for the six months ended June 30, 2019, was HK$1,868,000, compared to HK$1,563,000 for the same period in 2018, representing an increase of 19.5%[6] - Loss before income tax for the period was HK$13,687,000, a significant improvement from a loss of HK$56,864,000 in the prior year, indicating a reduction of 76.0%[8] - Basic and diluted loss per share decreased to HK$1.95 from HK$8.12, reflecting a 76.0% improvement year-over-year[8] - The total comprehensive loss for the period attributable to owners of the company was HK$13,687,000, compared to HK$56,864,000 in the prior year, a reduction of 76.0%[8] - Loss for the six months ended June 30, 2019 attributable to owners of the Company was HK$13,687,000, a decrease from HK$56,864,000 in the same period of 2018, representing a reduction of approximately 76.0%[99] - The decrease in loss for Global Mastermind Capital Limited was mainly due to a reduction in loss arising from changes in fair value of financial assets at fair value through profit or loss, from approximately HK$46,886,000 in 2018 to approximately HK$5,261,000 in 2019[190] Assets and Liabilities - Total assets as of June 30, 2019, were HK$398,309,000, slightly down from HK$409,514,000 at the end of 2018, a decrease of 2.8%[10] - Net current assets were HK$370,607,000, compared to HK$388,008,000 at the end of 2018, indicating a decline of 4.7%[11] - As of June 30, 2019, total equity amounted to HK$374,638,000, a decrease from HK$388,325,000 as of January 1, 2019, reflecting a loss of HK$13,687,000 for the period[15] - The accumulated losses increased to HK$472,902,000 as of June 30, 2019, from HK$459,215,000 as of January 1, 2019[15] Cash Flow - For the six months ended June 30, 2019, net cash used in operating activities was HK$10,111,000, compared to a net cash generated of HK$39,717,000 for the same period in 2018[19] - Cash and cash equivalents at the end of the period were HK$29,801,000, down from HK$36,836,000 at the end of June 30, 2018[19] - The company reported a net decrease in cash and cash equivalents of HK$8,699,000 for the six months ended June 30, 2019, contrasting with an increase of HK$29,819,000 in the previous year[19] Expenses - Administrative expenses decreased to HK$9,924,000 from HK$11,426,000, a reduction of 13.1% year-over-year[8] - Staff costs for the six months ended June 30, 2019 were HK$1,844,000, down from HK$2,181,000 in 2018, indicating a decrease of about 15.5%[99] - Directors' remuneration decreased to HK$2,400,000 in the first half of 2019 from HK$4,035,000 in 2018, reflecting a reduction of approximately 40.5%[99] - Finance costs for the six months ended June 30, 2019 totaled HK$437,000, compared to HK$178,000 in 2018[92] Investments - The Group's principal activity is investment in listed and unlisted companies, regarded as a single business segment[90] - The Group's major investments included approximately HK$298,921,000 in a portfolio of listed financial instruments and approximately HK$62,478,000 in direct investments in unlisted financial instruments[200] - The investment portfolio primarily consists of equity and debt securities mainly located in Hong Kong, Canada, and the United States[200] - The Group's investments include Affluent Partners Holdings Limited with a market value of HK$29,341,000 as of June 30, 2019[152] - The total market value of the Group's investments as of June 30, 2019, is HK$339,628,000[152] Financial Instruments and Fair Value - The fair value of the Group's listed equity securities in Hong Kong and outside Hong Kong (excluding suspended trading securities) was approximately HK$252,164,000 as of the date of approval of the financial statements[115] - The Group's financial assets at fair value through profit or loss totaled HK$361,399,000 at the end of the reporting period, with unlisted equity and debt securities valued at HK$62,478,000[110] - The carrying amounts of the Group's financial instruments at amortized cost were not materially different from their fair values as of June 30, 2019, and December 31, 2018[128] - The fair value measurements are categorized into three levels based on the observability and significance of the inputs used in the valuation technique[131] Accounting Policies - The company's financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, reflecting the same accounting policies as in the 2018 annual financial statements[20] - The Group applied HKFRS 16 for the first time, which superseded HKAS 17, with no material impact on the Interim Financial Information for the current and prior periods[28][30]. - The Group has not applied any new and revised HKFRSs that have been issued but not yet effective for the current accounting period[29]. Related Party Transactions - The Group's significant related party transactions include secretarial fees received of HK$63,000 and lease payments of HK$1,862,000 for the six months ended June 30, 2019[145] Dividend Policy - The Group did not recommend the payment of an interim dividend for the six months ended June 30, 2019, consistent with the previous year where no dividend was declared[104] - The Board of Global Mastermind Capital Limited resolved not to declare an interim dividend for the six months ended June 30, 2019, consistent with the previous year[190]
胡桃资本(00905) - 2019 - 中期财报