Financial Performance - Gross proceeds from operations for the six months ended June 30, 2024, were HK$1,414,000, a decrease of 81.6% compared to HK$7,659,000 for the same period in 2023[3] - Revenue for the same period was HK$3,000, representing a 85% decline from HK$20,000 in 2023[3] - Loss before income tax for the period was HK$9,459,000, slightly improved from a loss of HK$10,275,000 in the previous year[4] - Total comprehensive expense attributable to owners of the Company was HK$9,459,000, compared to HK$10,275,000 in 2023[4] - Basic and diluted loss per share for the period was HK(7.8) cents, an improvement from HK(8.5) cents in the prior year[4] - The Group reported a loss attributed to the owners of the Company of HK$9,459,000 for the six months ended June 30, 2024, slightly improved from a loss of HK$10,275,000 in 2023[20] - The Group reported a loss after tax of approximately HK$9.46 million for the Period, an improvement from a loss of HK$10.28 million in the 2023 Period[37] Financial Position - Cash held by securities brokers decreased to HK$13,000 from HK$14,000 as of December 31, 2023[6] - Bank balances and cash significantly decreased to HK$616,000 from HK$4,003,000 as of December 31, 2023[6] - Total assets less current liabilities decreased to HK$5,937,000 from HK$10,996,000 as of December 31, 2023[7] - The net liabilities/assets value per share at the end of the period was HK(0.02), down from HK$0.06 at the end of 2023[8] - As of June 30, 2024, the company had issued and fully paid 121,132,020 ordinary shares, with an authorized share capital of HK$100,000,000,000[28] - As of July 31, 2024, the company's unaudited consolidated net liabilities amounted to HK$6,495,000, with a net liabilities value per share of approximately HK$0.05[31] Cash Flow and Investments - For the six months ended June 30, 2024, the gross proceeds from the disposal of financial assets at FVTPL amounted to HK$1,357,000, a decrease of 39.5% from HK$2,249,000 in the same period of 2023[16] - Dividend income for the same period was HK$3,000, down 85% from HK$20,000 in 2023[16] - The net realized losses on the disposal of financial assets at FVTPL were HK$210,000, compared to net realized losses of HK$5,595,000 in the previous year[19] - The fair value changes of financial assets at FVTPL included net unrealized losses of HK$3,926,000, compared to net unrealized gains of HK$635,000 in the previous year[19] - Proceeds from the disposal of financial assets at FVTPL which are revenue in nature decreased by approximately HK$892,000 compared to the 2023 Period, totaling HK$1.36 million[38] - Proceeds from the disposal of financial assets at FVTPL which are capital in nature decreased by approximately HK$5.336 million compared to the 2023 Period, totaling HK$54,000[38] Corporate Actions - No interim dividend was recommended for the current period, consistent with the previous year where no dividend was paid[22] - The Company issued convertible notes with an aggregate principal amount of HK$4,000,000 on December 29, 2023, maturing on December 29, 2025, with an interest rate of 8% per annum[24] - If fully converted, the convertible notes would result in the issuance of an additional 24,096,384 ordinary shares, representing 16.59% of the enlarged issued share capital[25] - A capital reorganization was completed on December 13, 2023, resulting in a reduced share capital of approximately HK$30,162,000 being transferred to the contributed surplus account[30] - The Group's gearing ratio at Period End Date was 119.58%, up from 66.33% at the end of 2023[46] Operational Insights - Administrative expenses increased to approximately HK$4.77 million from HK$4.22 million in the 2023 Period[37] - Staff remuneration accounted for approximately 60.42% of administrative expenses, totaling HK$2.883 million, compared to 57% in the 2023 Period[42] - The Group did not make any new unlisted investments during the Period[36] - The Group's investments during the period were primarily denominated in HK$, USD, and RMB, with no significant exposure to exchange rate fluctuations expected due to the peg of HK$ to USD[54] - There were no material acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[55] - The Group does not have major customers or suppliers, resulting in no aging analysis of accounts receivable and accounts payable[56] Strategic Outlook - The Group plans to prudently manage business operations and financial resources amid ongoing economic uncertainty and geopolitical tensions[59] - Management is exploring options to raise additional equity funding to strengthen the balance sheet and capture investment opportunities domestically and internationally[59] - Future outlook includes strategic initiatives aimed at market expansion and potential mergers or acquisitions[70] - Market expansion strategies are being implemented, focusing on key regions outside of Hong Kong[70] - The company is exploring new strategies to enhance shareholder value, including potential share buybacks or dividends[70] - Research and development investments are increasing, aimed at innovation and competitive advantage in the market[70] Compliance and Governance - The audit committee reviewed the accounting principles and practices adopted by the Group and discussed financial reporting matters during the period[61] - The Company complied with the corporate governance code provisions during the period[62] - All Directors confirmed compliance with the Model Code regarding securities transactions throughout the period[65] - The management team emphasized the importance of maintaining compliance with the Listing Rules and corporate governance standards[70] Market Trends - The Hang Seng Index increased by 5.53% from January 2, 2024, to June 30, 2024, reflecting market recovery trends[33] - User data trends indicate a growth in active users, with percentage increases to be highlighted in the performance metrics[70] - New product developments and technological advancements are in the pipeline, with expected launch dates and market impact to be discussed[70] - The company provided performance guidance for the upcoming quarters, projecting revenue growth percentages[70]
嘉进投资国际(00310) - 2024 - 中期业绩