Financial Performance - For the six months ended September 30, 2021, the Group recorded gross proceeds from the disposal of securities of approximately HK$15.2 million, down from approximately HK$17.7 million in 2020, representing a decrease of about 14.1%[7]. - Revenue increased from approximately HK$2.1 million for the six months ended September 30, 2020, to approximately HK$2.4 million for the current period, reflecting a growth of approximately 14%[7]. - The financial profit attributable to the owners of the Company changed from a loss of approximately HK$12.9 million in 2020 to a profit of approximately HK$15.8 million for the current period[7]. - Profit before tax for the period was HK$15,792,000, a turnaround from a loss of HK$12,896,000 in the same period last year[93]. - The profit attributable to shareholders of the Company was HK$15,792,000, compared to a loss of HK$12,896,000 in the previous year, marking a significant improvement[93]. - The total comprehensive income for the period was HK$15,792,000, marking a positive turnaround compared to the previous losses[98]. Asset Management - The unaudited consolidated net assets of the Group as of September 30, 2021, amounted to approximately HK$232.5 million, an increase from approximately HK$195.5 million as of March 31, 2021[7]. - The increase in net asset value was driven by a net profit of approximately HK$21.0 million for the period, excluding non-cash share-based payments of approximately HK$5.2 million, and net placing proceeds of approximately HK$16.0 million[7]. - The Group's total investment portfolio was valued at approximately HK$202.3 million, comprising listed equities, debt investments, and direct investments in unlisted equities[13]. - The portfolio included HK$154.4 million in listed shares across thirty-nine companies, HK$23.8 million in bonds from two listed companies, and HK$24.1 million in direct investments in unlisted equity securities[13]. - The net asset value per share remained stable at approximately HK$0.72 as of September 30, 2021, unchanged from March 31, 2021[8]. - The Group's cash and cash equivalents as of September 30, 2021 were approximately HK$22.2 million, a significant increase from approximately HK$2.8 million as of 31 March 2021[44]. Investment Activities - The net realised gain on disposal of listed equity investments was approximately HK$2,242,000, net of realised loss of approximately HK$2,176,000[19]. - The net unrealised gain on listed equity investments was approximately HK$21,000,000[20]. - The Group's unlisted debt investments contributed stable interest income of approximately HK$1.5 million for the period[22]. - The Group's margin payables increased to approximately HK$5.9 million as of 30 September 2021, compared to approximately HK$4.4 million as of 31 March 2021[44]. - The Group's margin payables are related to margin loans from trading listed investments, which are repayable on demand[156]. Shareholder Information - The Board resolved not to recommend a payment of an interim dividend for the six months ended 30 September 2021[28]. - The Company did not recommend the payment of a dividend for the six months ended 30 September 2021, consistent with no dividend in 2020[118]. - The weighted average number of ordinary shares in issue for the six months ended 30 September 2021 was 286,312,010, an increase from 227,246,928 shares in the same period of 2020[119][123]. - The diluted earnings per share (EPS) for the six months ended 30 September 2021 was 5.28 HK cents, with a diluted weighted average number of shares of 299,294,269[122]. Corporate Governance - The Company has complied with the Code on Corporate Governance Practices throughout the reporting period, with some deviations noted[80]. - The Audit Committee reviewed the unaudited consolidated results and discussed matters related to auditing, internal controls, and financial reporting[89]. - The Company confirmed that all Directors have complied with the required standards for securities transactions throughout the reporting period[88]. Operational Insights - The Group's operations are solely based in Hong Kong, with all revenue derived from this region, indicating a focused geographical strategy[106]. - The Group does not have any major customers as determined by its operations, reflecting a diversified investment approach[109]. - The management considers the activities of interest income and dividend income from investment holding as a single business segment due to common risks and returns[105]. Future Outlook - The Company has maintained a healthy liquidity position, supported by highly liquid listed securities[44]. - The Company does not have any concrete plan for material investments or capital assets as of 30 September 2021[26]. - The management believes that Power Financial will spur revenue growth and create more value in the long run[149][152].
中国投融资(01226) - 2022 - 中期财报