Financial Performance - The turnover for the six months ended March 31, 2019, was HK$47,686,670, a decrease of 57.5% compared to HK$112,237,197 for the same period in 2018[10]. - The operating loss for the period was HK$65,974,495, compared to an operating loss of HK$124,012,927 in the previous year, representing a 46.8% improvement[10]. - Loss before tax for the period was HK$66,439,000, down from HK$124,899,003 in the prior year, indicating a 46.8% reduction in losses[10]. - Total comprehensive loss attributable to equity holders of the Company for the period was HK$66,439,000, compared to HK$122,399,003 in the previous year, reflecting a 45.2% decrease[11]. - The total comprehensive loss for the period ended March 31, 2019, was HK$122,399,003, which includes a loss of HK$66,439,000 for the period[17]. - The net loss attributable to equity holders of the Company was approximately HK$66.4 million, down from HK$124.9 million in 2018, primarily due to improved performance of listed securities[94]. - The Group reported a net realized loss on financial assets at fair value through profit or loss (FVTPL) of HK$39,799,733 for the six months ended 31 March 2019, compared to a loss of HK$81,482,230 for the same period in 2018[40]. - The net unrealized loss on financial assets of FVTPL was HK$18,282,881 for the six months ended 31 March 2019, down from HK$33,675,455 in the previous year[40]. - The Group recorded a net loss on listed securities investment of approximately HK$58.0 million during the Period, compared to HK$115.2 million in the corresponding period of last year[94]. Assets and Liabilities - The net asset value per share as of March 31, 2019, was HK$0.2436, down from HK$0.2670 as of September 30, 2018[14]. - Current assets as of March 31, 2019, totaled HK$663,531,643, a slight decrease from HK$684,799,627 as of September 30, 2018[13]. - Non-current assets decreased to HK$31,901,797 from HK$66,697,626, indicating a significant reduction of 52.1%[13]. - As of March 31, 2019, the total equity was HK$670,990,538, down from HK$735,554,038 as of October 1, 2018[17]. - The net asset value of the Group as of March 31, 2019, is HK$670,990,538, down from HK$735,554,038 as of September 30, 2018, indicating a decrease of approximately 8.8%[78][80]. - The Group's liquidity position improved, with bank balances decreasing to approximately HK$14.0 million from HK$56.9 million as of September 30, 2018[104]. - The current ratio as of March 31, 2019, was 27.1, down from 43.0 as of September 30, 2018, indicating a healthy level of liquidity[104]. - The gearing ratio increased to 3.5% as of March 31, 2019, compared to 2.1% as of September 30, 2018, while the Group had no material commitments or contingent liabilities[105]. - The debt-to-asset ratio remained low at 3.5% as of March 31, 2019, compared to 2.1% as of September 30, 2018[107]. Cash Flow - For the six months ended March 31, 2019, the net cash used in operating activities was HK$79,992,888, compared to HK$31,880,445 for the same period in 2018, indicating a significant increase in cash outflow[20]. - The net cash from investing activities for the same period was HK$37,089,520, a recovery from a cash outflow of HK$500,000 in the previous year[20]. - The company reported a decrease in cash and cash equivalents of HK$42,903,368 for the six months ended March 31, 2019, compared to a decrease of HK$32,380,445 in the same period of the previous year[20]. - The bank balances and cash as of March 31, 2019, were HK$13,958,969, down from HK$19,771,075 a year earlier[20]. Expenses - Administrative expenses for the period were HK$16,452,249, a decrease from HK$17,275,730 in the previous year, showing a 4.8% reduction[10]. - Total staff costs, including directors' remuneration and share-based payments, rose to HK$4,072,236 for the six months ended March 31, 2019, compared to HK$2,389,944 in the previous year[47]. - The short-term benefits for key management personnel increased to HK$1,943,136 for the six months ended March 31, 2019, compared to HK$1,415,364 for the same period in 2018, marking an increase of approximately 37.1%[86]. Dividends - The Company did not declare any dividends for the period, consistent with the previous year[11]. - No interim dividend was recommended for the six months ended March 31, 2019, consistent with the previous year[49]. - The Group did not recommend the payment of an interim dividend for the six months ended March 31, 2019, consistent with the previous year[54]. Share Options and Capital - The Company granted a total of 165,000,000 share options to certain directors and employees, representing approximately 0.6% of the issued share capital as of the grant date[134]. - The exercise price of the share options is HK$0.037 per share, with a fair value of HK$1,875,500 calculated using the Binomial Option Pricing Model[138]. - As of March 31, 2019, 110,448,249 share options remained ungranted, which is approximately 4.01% of the issued share capital[134]. - No share options were exercised during the six months ended March 31, 2019[135]. - The Company did not repurchase, redeem, or sell any of its listed securities during the six months ended March 31, 2019[140]. - The company did not conduct any capital exercises during the period, maintaining issued share capital of 2,754,882,496 shares with a par value of HK$0.025 each[120]. Compliance and Governance - The Audit Committee, comprising three independent non-executive directors, reviewed the accounting principles and practices adopted by the Company[141]. - The Company has fully complied with the Model Code for Securities Transactions by Directors during the Period[142]. - The company has complied with the Corporate Governance Code, with some deviations, including the roles of chairman and chief executive being held by the same person, which the board believes allows for prompt decision-making[147]. - All non-executive directors are subject to retirement by rotation, although they do not have specific terms of appointment, which the company considers sufficient to meet governance standards[148]. Investments - The Group completed the disposal of its investment in Kendervon Profit Inc. for HK$30,000,000, with the fair value of this investment being HK$30,000,000 as of 30 September 2018[65]. - The fair value of unlisted bonds held by the Group increased to HK$175,226,539 as of 31 March 2019, up from HK$120,300,000 as of 30 September 2018[64]. - The total fair value of financial assets at fair value through profit or loss increased to HK$520,960,381 as of 31 March 2019, compared to HK$465,607,302 as of 30 September 2018[64]. - The Group's investment in unlisted equity securities was valued at HK$27,733,160 as of 31 March 2019, with no such investments reported as of 30 September 2018[64]. - The Group's receivables from disposed available-for-sale investments increased to HK$85,200,015 as of 31 March 2019, compared to HK$61,029,609 as of 30 September 2018[73].
首都创投(02324) - 2019 - 中期财报