Financial Performance - For the six months ended September 30, 2024, the Group recorded gross proceeds from the disposal of securities of approximately HK$11.0 million, down from approximately HK$15.9 million for the same period in 2023, representing a decrease of about 30.6%[6] - Revenue increased from approximately HK$2.7 million for the six months ended September 30, 2023, to approximately HK$3.3 million for the current period, reflecting an increase of approximately 24.4%[6] - Loss attributable to owners decreased from approximately HK$27.7 million for the six months ended September 30, 2023, to approximately HK$7.0 million for the current period[6] - The Group reported a net realized loss on disposal of equity instruments of HK$675,000, compared to HK$4,958,000 in the previous year, indicating an improvement[98] - The Group reported a loss attributable to shareholders of approximately HK$6,966,000 for the six months ended September 30, 2024, compared to a loss of approximately HK$27,695,000 in 2023, indicating a significant improvement[117] Asset Management - The unaudited consolidated net assets of the Group as of September 30, 2024, amounted to approximately HK$151.9 million, down from approximately HK$158.9 million as of March 31, 2024[6] - The net asset value per share was approximately HK$0.37 as of September 30, 2024, compared to approximately HK$0.39 as of March 31, 2024[7] - The Group's investment portfolio value is approximately HK$151.8 million, primarily consisting of unlisted equity securities, unlisted debt securities, and listed equity securities in Hong Kong and China[12] - The Group's cash and cash equivalents decreased to approximately HK$1.0 million as of September 30, 2024, compared to approximately HK$7.1 million as of March 31, 2024[72] - The Group's gearing ratio increased to 4.5% as of September 30, 2024, from 3.9% as of March 31, 2024, indicating a slight increase in leverage[72] Investment Strategy - The Group aims to manage its investment portfolio prudently amidst high geopolitical risks and uncertainties in the global market[63] - The Group will continue to explore investment opportunities that offer outstanding returns under acceptable risk levels[64] - Minerva Group recognizes the potential in the healthcare sector and will actively pursue investments aligned with its strategic objectives[18] - The Group's investments include HK$98.6 million in listed equities, HK$46.9 million in debt investments, and HK$6.3 million in direct investments in unlisted equities[10] - The Group's loss on listed investments for the period was approximately HK$6.3 million, including net realised and unrealised losses[52] Operational Insights - The Group's operations are solely based in Hong Kong, with all revenue derived from this region[111] - The Group's activities are primarily focused on investment holding, with no significant changes in accounting policies reported for the current period[110] - The Group retained eleven employees as of September 30, 2024, consistent with the previous year[74] - Total staff costs for the six months ended September 30, 2024, were approximately HK$0.2 million, a decrease from approximately HK$0.5 million in the same period of 2023[74] - The Group did not have any significant acquisitions or disposals of subsidiaries during the six months ended September 30, 2024[72] Governance and Compliance - The Company confirmed compliance with the public float requirement of the Listing Rules for the six months ended 30 September 2024[87] - The Company has complied with the Code on Corporate Governance Practices throughout the six months ended 30 September 2024, with deviations from Provision C.2.1[88] - The roles of the Chairman and the Chief Executive Officer are currently being separated, with the Board in the process of finding an appropriate person to fill these positions[89] - Related party transactions were conducted on normal commercial terms during the six months ended September 30, 2024 and 2023[135] - The financial statements for the six months ended 30 September 2024 are unaudited[137] Future Outlook - The management believes that revenue growth and value creation from investments in Minerva Group are expected in the coming years[19] - WLS Holdings Limited anticipates that geopolitical tensions and the effects of monetary tightening will continue to impact Hong Kong's economic growth in 2024[20] - WLS Group will maintain its focus on scaffolding, fitting out, and auxiliary services for construction, as well as money lending and securities investment[20] - WLS Group aims to explore suitable investment opportunities to diversify its business horizons and strengthen overall development[29] - The company plans to continue expanding into corporate and individual loans through its wholly-owned subsidiaries, E Cash Fintech Limited and E Finance Limited[15]
中国投融资(01226) - 2025 - 中期财报