Financial Performance - The Group reported a loss after tax of approximately HK$9.46 million for the Period, an improvement from the loss of HK$10.28 million in the 2023 Period[14]. - The Group recorded a loss of approximately HK$9.46 million for the current period, compared to a loss of HK$10.28 million in the 2023 period[17]. - The loss before income tax for the period was HK$9,459,000, compared to a loss of HK$10,275,000 in the previous year, indicating a slight improvement[65]. - The loss attributable to owners of the Company for the period was HK$9,459,000, which is a decrease of 7.9% from HK$10,275,000 in 2023[65]. - Basic and diluted loss per share for the period was HK$7.8, compared to HK$8.5 in the same period last year, reflecting a reduction in loss per share[65]. - The company experienced a loss for the period of HK$9,459,000, contributing to an accumulated loss of HK$466,969,000 as of June 30, 2024[80]. Revenue and Income - Proceeds from the disposal of financial assets at FVTPL which are revenue in nature decreased by approximately HK$892,000, totaling HK$1,357,000 compared to HK$2,249,000 in 2023[15]. - Dividend income for the Period was HK$54,000, a significant decrease from HK$5,390,000 in the previous year[15]. - For the six months period ended June 30, 2024, the gross proceeds from operations were HK$1,414,000, a decrease of 81.6% compared to HK$7,659,000 in the same period of 2023[65]. - Revenue for the same period was HK$3,000, down 85% from HK$20,000 in 2023[65]. - Dividend income for the same period was HK$3,000, down 85% from HK$20,000 in 2023[102]. Assets and Liabilities - The Group's unaudited consolidated net liabilities as of 31 July 2024 amounted to HK$6,495,000, with a net liabilities value per share of approximately HK$0.05[12]. - At the end of the period, the margin loan from a securities broker amounted to approximately HK$2.56 million, compared to HK$2.42 million at the end of 2023[29]. - The Group's gearing ratio at Period End Date was 119.58%, significantly increased from 66.33% at 31 December 2023[35]. - As of June 30, 2024, total assets less current liabilities amounted to HK$5,937,000, a decrease of 46.0% from HK$10,996,000 as of December 31, 2023[68]. - The company reported a net current asset value of HK$2,000, a significant decline from HK$4,262,000 at the end of 2023[71]. - The total (deficit)/equity as of June 30, 2024, was HK$(2,463,000), compared to HK$6,996,000 at the end of 2023, indicating a substantial decrease in equity[71]. Investments - The Group's significant investment in ITC Properties Group Ltd saw a share price decrease of 38.46% during the period, with an unrealized loss of HK$3.66 million[30]. - The Group's investment in ITC represented 46.56% of its total assets at the end of the period[30]. - The Group held a 14.7% equity interest in Wealth Spread, which has an indirect 54% equity interest in a lead and zinc mining entity in the PRC[33]. - The Group's investment strategy focuses on identifying and investing in both listed and unlisted investments with growth potential across various industries[29]. - The fair value of financial assets at FVTPL was approximately HK$5,854,000 as of June 30, 2024, down from HK$9,513,000 on December 31, 2023, indicating a decrease of about 38.9%[134]. Expenses - Investment management expenses decreased from HK$0.32 million to HK$0.24 million, contributing to the reduction in overall losses[14]. - Administrative expenses amounted to approximately HK$4.77 million, an increase from HK$4.22 million in the 2023 period[19]. - Staff remuneration was the largest component of administrative expenses at HK$2.88 million, representing approximately 60.42% of total administrative expenses[22]. - Interest expenses for the period were approximately HK$365,000, a decrease from HK$806,000 in the 2023 period, due to reduced margin loans[29]. - Staff costs, including directors' remuneration, increased to HK$2,883,000 for the six months ended June 30, 2024, from HK$2,398,000 in 2023[117]. Corporate Governance and Management - The Company complied with the corporate governance code provisions during the period, ensuring proper governance practices[59]. - The audit committee reviewed the accounting principles and practices adopted by the Group, focusing on internal control and financial reporting matters[62]. - The board of directors and senior management's compensation policies are reviewed at least annually by the compensation committee[49]. - Management is exploring options to raise additional equity funding to strengthen the balance sheet for future investment opportunities[48]. - The position of executive director has been vacant since June 10, 2021, and the Board continues to assess performance as a whole[99]. Market Outlook - The company anticipates a challenging outlook for the upcoming year due to economic uncertainties, geopolitical tensions, and potential financial market instability[49]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[196]. - The company provided an optimistic outlook, projecting a revenue growth of 10-15% for the second half of 2024[196]. - New product launches are expected to contribute an additional HK$30 million in revenue by the end of 2024[196]. - A new marketing strategy is being implemented, aiming to increase brand awareness by 30% in the next year[196].
嘉进投资国际(00310) - 2024 - 中期财报