Financial Performance - The company reported unaudited revenue of HKD 164,000 for the six months ending December 31, 2024, compared to HKD 4,123,000 for the same period in 2023, indicating a significant decline[2]. - Other income and losses amounted to HKD 3,677,000, a decrease from HKD 1,000,000 year-on-year[2]. - The company recorded a fair value gain of HKD 1,139,000 from financial assets, down from HKD 72,082,000 in the previous year[2]. - Administrative expenses decreased to HKD 2,780,000 from HKD 4,263,000, reflecting a reduction of approximately 34.8%[2]. - The company reported a pre-tax profit of HKD 1,641,000, significantly lower than HKD 68,325,000 in the prior year[2]. - The net profit for the period was HKD 1,641,000, compared to HKD 68,325,000 in the same period last year, marking a substantial decline[2]. - Total comprehensive income for the period was HKD 1,926,000, down from HKD 79,262,000 year-on-year[4]. - The group recorded a profit of HKD 1,641,000 for the six months ending December 31, 2024[9]. - Basic earnings per share for the six months ending December 31, 2024, were HKD 0.15, compared to HKD 6.23 for the same period in 2023[25]. - The group recorded a pre-tax profit of HKD 1,641,000 for the six months ending December 31, 2024[17]. - The group did not declare an interim dividend for the six months ending December 31, 2024[24]. - The total employee cost for the period was HKD 1,102,000, a decrease from HKD 2,327,000 for the same period in 2023[44]. Assets and Liabilities - The company's total assets less current liabilities stood at HKD 167,123,000, an increase from HKD 165,514,000[5]. - Cash and cash equivalents increased to HKD 38,303,000 from HKD 19,000, indicating improved liquidity[5]. - The company’s net current assets amounted to HKD 101,652,000, up from HKD 100,132,000, showing a slight improvement in financial health[5]. - The net asset value of the group increased to HKD 167,069,000 as of December 31, 2024, compared to HKD 165,143,000 as of June 30, 2024[6]. - The group's total equity remained stable at HKD 167,069,000, with a net asset value per share of HKD 1.52[6]. - The group’s total liabilities were not allocated to reportable segments, indicating a focus on asset management[19]. - The group had no bank borrowings or capital commitments as of December 31, 2024[38]. - There were no significant contingent liabilities as of December 31, 2024[41]. - The current ratio as of December 31, 2024, was approximately 5.07 times, up from 4.95 times on June 30, 2024[37]. - The debt-to-asset ratio as of December 31, 2024, was approximately 13.03%, a slight decrease from 13.49% on June 30, 2024[37]. Investment Activities - The group operates primarily in investment activities in Hong Kong and the People's Republic of China[7]. - The company plans to exit investments in the micro-lending industry due to concerns over declining interest rates and rising operational risks, while continuing to focus on investments in the bioenergy sector[31][32]. - The company sold 2,555,000 shares of Hengding Industrial, generating total proceeds of approximately HKD 149,000, resulting in a realized loss of approximately HKD 8,015,000 based on an investment cost of approximately HKD 8,164,000[29]. - The company holds a 30% equity interest in Hainan Keyi Huirui Bioenergy Technology Co., Ltd., with a cost of HKD 117,450,000[34]. - The company has a 30% stake in Henan Zhongxin Bioenergy Co., Ltd., with a fair value of HKD 22,109,000[34]. - The company is focusing on the bioethanol industry in China to maximize shareholder value[36]. - The company has invested in multiple joint ventures, including a 30% stake in Henan Tian Guan Energy Biochemical Technology Co., Ltd.[35]. - The company has a 30% interest in Jiangxi Huazhang Hancheng Guarantee Group Co., Ltd., with a cost of HKD 43,150,000[34]. - The company has a 30% stake in Xi'an Kairong Financial Services Co., Ltd., with a cost of HKD 18,724,000[34]. - The company is actively involved in the development and sales of clean energy products, including biofuels and chemical products[34]. - The company has a 30% equity interest in Tianjin Binlian Microfinance Co., Ltd., with a cost of HKD 12,271,000[34]. Financial Management and Governance - The company may need to secure additional equity or debt financing to support future capital plans[9]. - The company continues to monitor cash flow and assess future funding options based on market conditions[9]. - The financial statements are prepared in accordance with the Hong Kong Accounting Standards and reflect the group's ongoing business operations[10]. - The company emphasizes the importance of resource allocation and performance evaluation based on investment categories and related businesses[15]. - The group has applied new amendments to the Hong Kong Financial Reporting Standards, effective from July 1, 2024, which did not have a significant impact on the financial position[14]. - The group has adopted the corporate governance code and has complied with the relevant rules, with some deviations noted[46]. - The group recognized a reversal of impairment losses on other receivables amounting to HKD 3,677,000 for the six months ending December 31, 2024[22]. - The total profit from listed securities business during this period was HKD 3,356,000, with no dividend income recorded from listed investments for the six months ending December 31, 2024[28]. - The market value of listed securities as of December 31, 2024, was HKD 36,998,000, an increase from HKD 33,791,000 as of June 30, 2024[28]. - The group incurred a total loss of HKD 1,053,000 from unlisted investments during this period, a significant decline from a profit of HKD 53,431,000 in the same period last year[30]. - The fair value of unlisted investments decreased by 2.09% to HKD 51,244,000 as of December 31, 2024, down from HKD 52,339,000 as of June 30, 2024[30]. - The group’s net asset value as of December 31, 2024, was HKD 167,069,000, reflecting a slight increase from HKD 165,143,000 as of June 30, 2024[26]. - The total number of issued shares remained constant at approximately 10,971,634,030 shares as of December 31, 2024[42]. - The financing costs decreased from HKD 453,000 in 2023 to HKD 433,000 in 2024[18]. - The company aims to carefully assess and mitigate potential risks while striving to deliver greater returns to shareholders[36].
中国金融国际(00721) - 2025 - 中期业绩