Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 49,113, compared to HKD 48,993 in the same period last year, reflecting a slight increase [4]. - The company incurred a loss before tax of HKD 5,477, compared to a loss of HKD 4,154 in the previous year, indicating a deterioration in financial performance [4]. - The total comprehensive loss for the period was HKD 3,522, significantly improved from HKD 9,108 in the prior year, showing a reduction in overall losses [4]. - Basic and diluted loss per share was HKD (1.25), slightly better than HKD (1.29) in the previous year, indicating a marginal improvement in per-share performance [4]. - Total revenue for the six months ended September 30, 2024, was HKD 117,870,000, a decrease of 4,063,000 compared to the previous period [6]. - The group reported a total of HKD 1,531,000 in other income and gains for the six months ended September 30, 2024, compared to HKD 1,963,000 in the previous year [17]. - The group reported a financing cost of HKD 131,000 for the six months ended September 30, 2024 [14]. - The group recorded a loss of approximately HKD 5,345,000 for the period, which is a 32% increase compared to the restated loss of HKD 4,063,000 for the same period last year [55]. Assets and Liabilities - Non-current assets totaled HKD 33,210 as of September 30, 2024, up from HKD 31,300 as of March 31, 2024, suggesting growth in long-term asset investments [5]. - Current assets increased to HKD 67,884 from HKD 91,176, indicating a decrease in liquidity over the period [5]. - Total assets as of September 30, 2024, amounted to HKD 101,094,000, a decrease from HKD 122,476,000 as of March 31, 2024 [16]. - Total equity decreased to HKD 78,368 from HKD 97,656, indicating a decline in the company's net worth [5]. - The total liabilities for the group as of September 30, 2024, were HKD 22,726,000, down from HKD 24,820,000 [16]. - The group’s debt-to-asset ratio as of September 30, 2024, was approximately 9.03%, down from 24.47% on March 31, 2024 [60]. Cash Flow - The net cash flow from operating activities was HKD 47,592,000, with a net cash outflow of HKD 1,342,000 [7]. - Cash and cash equivalents at the end of the period increased to HKD 59,748,000 from HKD 79,998,000 in the previous year [7]. - The group’s cash and cash equivalents as of September 30, 2024, amounted to approximately HKD 59,748,000, down from HKD 82,618,000 as of March 31, 2024 [56]. - The net cash inflow from investing activities was HKD 32,921,000, compared to HKD 11,409,000 in the previous year [7]. - Financing activities resulted in a net cash outflow of HKD 22,628,000, compared to HKD 14,252,000 in the previous year [7]. Operational Highlights - The company is engaged in mining and metal trading, as well as research and development of biological and nanomaterials [8]. - The company completed the sale of 81 kilograms of gold during the period, generating a gross profit of approximately HKD 120,000 [44]. - The company expects to obtain a renewed mining license by the end of 2024, with plans to start construction of the mine in the second half of 2025 [45]. - The company has completed two open-pit drill holes with a total depth of approximately 987 meters at the Baishiquan copper-nickel mine [46]. - The company anticipates that the demand for electric vehicles will boost global nickel prices in the future [44]. Employee and Management Expenses - Employee benefit expenses, including directors and senior management remuneration, increased to 4,483,000 HKD from 3,321,000 HKD year-on-year [20]. - The company’s management compensation for the six months ended September 30, 2024, totaled HKD 784,000, compared to HKD 692,000 in 2023 [42]. - The company paid HKD 437,000 in rent and office expenses to related parties for the six months ended September 30, 2024, a decrease from HKD 453,000 in 2023 [41]. Shareholder Information - The group has issued a total of 337,288,180 shares, with a total equity of HKD 915,382,000 as of both March 31, 2024, and September 30, 2024 [33]. - The company approved a share consolidation of every 10 existing shares into 1 share, effective January 2, 2024 [39]. - The maximum number of stock options available under the 2023 Stock Option Plan is 281,288,180 shares, which will be adjusted to 28,128,818 shares after the share consolidation [71]. - Starmax Holdings Limited holds 67,807,440 shares, representing 20.10% of the issued share capital [67]. - Zhang Ming owns 24,624,909 shares, accounting for 7.30% of the issued share capital [67]. Corporate Governance - The company has adhered to the GEM Listing Rules Appendix C1 on corporate governance, except for Rule C.2.1, which requires the separation of the roles of Chairman and CEO [73]. - The Audit Committee is responsible for reviewing and monitoring the financial reporting process, internal controls, and risk management systems [76]. - The Audit Committee consists of three independent non-executive directors, who have reviewed the interim report, including the unaudited consolidated financial statements for the six months ending September 30, 2024 [77].
天时资源(08028) - 2025 - 中期业绩