Financial Performance - For the six months ended March 31, 2025, the Company reported a turnover of HK$ (278,058) compared to HK$ 48,513,038 for the same period in 2024, indicating a significant decline in revenue[10]. - The operating loss for the period was HK$ (5,348,755), a decrease from an operating profit of HK$ 21,414,362 in the previous year[10]. - The loss before tax was HK$ (7,230,443), compared to a profit before tax of HK$ 18,179,019 for the same period last year[10]. - The total comprehensive loss attributable to equity holders of the Company for the period was HK$ (7,230,443), down from a profit of HK$ 18,384,344 in the prior year[10]. - Basic and diluted earnings per share for the period were both HK$ (1.61), compared to HK$ 4.38 in the same period last year[10]. - The total comprehensive loss for the period was HK$7,230,443, compared to a profit of HK$18,384,344 in the same period last year, reflecting a challenging financial environment[14]. - The Group reported a net realized loss on financial assets of HK$3,760,839 for the six months ended 31 March 2025, compared to a loss of HK$623,723 for the same period in 2024[29]. - The net unrealized loss on financial assets was HK$3,603,844 for the six months ended 31 March 2025, a significant decrease from a gain of HK$42,024,823 in 2024[29]. - The Group recorded a loss of approximately HK$7.4 million for the six months ended March 31, 2025, compared to a profit of approximately HK$41.4 million for the same period last year[88]. Assets and Equity - As of March 31, 2025, the Company’s net assets were HK$ 300,275,695, a decrease from HK$ 307,506,138 as of September 30, 2024[11]. - The net asset value per share decreased to HK$ 0.67 from HK$ 0.73 in the previous reporting period[11]. - As of March 31, 2025, total equity stood at HK$300,275,695, a decrease from HK$319,850,847 as of October 1, 2023, indicating a decline in shareholder value[14]. - The accumulated losses increased to HK$1,156,927,267 as of March 31, 2025, from HK$1,137,572,929 as of October 1, 2023, highlighting ongoing financial difficulties[14]. - The Group's net asset value decreased to HK$300,275,695 as of 31 March 2025, down from HK$307,506,138 as of 30 September 2024, indicating a decline of approximately 2.0%[63]. Cash Flow and Liquidity - For the six months ended March 31, 2025, the net cash used in operating activities was HK$9,578,422, a decrease from HK$17,979,171 in the same period of 2024, indicating improved cash flow management[16]. - The company reported a net decrease in cash and cash equivalents of HK$7,640,022 for the six months ended March 31, 2025, compared to a minor decrease of HK$31,171 in the same period of 2024[16]. - The company had cash and cash equivalents of HK$25,178,400 as of October 1, 2024, down from HK$33,075,167 on October 1, 2023, indicating a liquidity challenge[16]. - The current ratio improved to 7.0 as of March 31, 2025, compared to 4.6 as of September 30, 2024, indicating a strong liquidity position[89]. - The gearing ratio remained low at 12.6% as of March 31, 2025, compared to 12.9% as of September 30, 2024[90]. Investments - The net cash from investing activities for the same period was HK$1,938,400, a significant decrease from HK$17,948,000 in the previous year, suggesting a reduction in investment activities[16]. - The Group's principal bond investments include Gold Medal Hong Kong Limited with a carrying amount of HK$35,903,415 and a coupon rate of 6.50%, representing 11.96% of the net assets attributable to the investment as of 31 March 2025[54]. - Significant investments include 607.8 million shares of WLS Holdings Limited valued at approximately HK$23.7 million as of March 31, 2025[95]. - The Group also holds 40.2 million shares of Japan Kyosei Group Company Limited valued at approximately HK$22.4 million as of March 31, 2025[98]. - The Group's bond investments include HK$62.0 million in bonds issued by Gold Medal Hong Kong Limited and HK$42.5 million in bonds issued by Hao Wen Holdings Limited[92]. Corporate Governance - The Audit Committee, comprising all independent non-executive directors, reviewed the unaudited interim results for the six months ended March 31, 2025[134]. - The Company has complied with the Corporate Governance Code provisions, except for the separation of the roles of chairman and chief executive[136]. - The Company confirmed that all directors complied with the Model Code for Securities Transactions during the period[135]. - The Company has a strong corporate governance structure to ensure effective oversight of management[139]. Share Capital and Dividends - The company issued 7,500,000 shares upon conversion of convertible bonds, impacting the share capital structure[14]. - The Group's issued share capital increased from 420,128,249 shares to 450,128,249 shares due to the conversion of convertible bonds[116]. - The Company did not declare any dividends for the period, consistent with the previous year[10]. - No interim dividend was recommended for the six months ended 31 March 2025, consistent with the previous year[38][43]. Operational Efficiency - Administrative expenses for the period were HK$ 5,070,697, down from HK$ 7,589,623 in the previous year[10]. - Total staff costs decreased to HK$1,794,916 for the six months ended 31 March 2025, down from HK$2,036,593 in 2024[36]. - The investment management fee paid to Evergrande Securities (Hong Kong) Limited was HK$4,839 for the six months ended 31 March 2025, compared to HK$300,000 for the same period in 2024, indicating a significant reduction[67]. Market Conditions - The Hang Seng Index (HSI) increased from 21,134 points as of 30 September 2024 to 23,120 points as of 31 March 2025, indicating a positive market trend[84]. - The Group anticipates a cautious approach to managing its investment portfolio due to the unpredictable global political environment and lack of clear signals for improvement or recession[87]. - The Group anticipates no significant improvement or severe decline in global investment markets for the remainder of the year, maintaining a cautious approach to managing its investment portfolio[88].
首都创投(02324) - 2025 - 中期财报