洪桥集团(08137) - 2025 - 中期业绩

Unaudited Condensed Interim Results The Group's unaudited condensed interim results for the six months ended June 30, 2025, show a narrowed loss from continuing operations but an overall loss, with total comprehensive income turning significantly positive due to exchange gains Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For the six months ended June 30, 2025, Hongqiao Group's loss from continuing operations narrowed, but an overall loss was still recorded, with total comprehensive income turning into a significant gain from a loss in the prior period, primarily due to exchange gains Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (for the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Continuing operations | | | | Revenue | 15,487 | 46,054 | | Gross profit | 213 | 12,506 | | Loss before income tax | (40,092) | (44,385) | | Loss for the period | (40,092) | (44,385) | | Discontinued operations | | | | Loss for the period | (3,054) | (8,738) | | Total loss for the period | (43,146) | (53,123) | | Total comprehensive income/(loss) for the period | 489,154 | (710,140) | | Basic loss per share from continuing and discontinued operations | (0.27) HK cents | (0.44) HK cents | | Basic loss per share from continuing operations | (0.26) HK cents | (0.41) HK cents | | Basic loss per share from discontinued operations | (0.01) HK cents | (0.03) HK cents | - Total comprehensive income for the period turned from a loss of HK$710,140 thousand in the first half of 2024 to a gain of HK$489,154 thousand in the first half of 2025, primarily due to exchange differences of HK$534,563 thousand arising from the translation of financial statements of overseas operations[6] Condensed Consolidated Statement of Financial Position As of June 30, 2025, the Group's total assets and net assets significantly increased, driven by higher exploration and evaluation asset values and equity growth from share issuance Condensed Consolidated Statement of Financial Position (as of June 30) | Metric | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Non-current assets | | | | Exploration and evaluation assets | 6,189,942 | 5,367,781 | | Total non-current assets | 6,259,043 | 5,465,255 | | Current assets | | | | Cash and cash equivalents | 410,975 | 65,784 | | Total current assets | 522,492 | 222,166 | | Current liabilities | | | | Total current liabilities | 128,478 | 154,630 | | Net assets | 4,383,857 | 3,513,948 | | Total equity | 4,383,857 | 3,513,948 | - Exploration and evaluation assets increased from HK$5,367,781 thousand as of December 31, 2024, to HK$6,189,942 thousand as of June 30, 2025, indicating increased investment in mineral resources[7] - Cash and cash equivalents significantly increased from HK$65,784 thousand as of December 31, 2024, to HK$410,975 thousand as of June 30, 2025, primarily due to proceeds from share placing[7][83] Condensed Consolidated Statement of Changes in Equity For the six months ended June 30, 2025, equity attributable to owners of the Company significantly increased due to share placing and currency translation gains, despite recording a loss for the period Condensed Consolidated Statement of Changes in Equity (for the six months ended June 30) | Metric | As at January 1, 2025 (HK$ thousand) | As at June 30, 2025 (HK$ thousand) | | :--- | :--- | :--- | | Total attributable to owners of the Company | 3,559,289 | 4,437,275 | | Non-controlling interests | (45,341) | (53,418) | | Total equity | 3,513,948 | 4,383,857 | | Key Changes | | | | Shares issued through placing | 376,000 | | | Loss for the period | (32,562) | | | Currency translation | 534,281 | | - Equity increased by HK$376,000 thousand through share placing, comprising HK$4,700 thousand in share capital and HK$371,300 thousand in share premium, significantly boosting the Company's equity[9] - Currency translation generated HK$534,281 thousand in other comprehensive income, positively impacting equity[9] Condensed Consolidated Statement of Cash Flows For the six months ended June 30, 2025, the Group's cash outflow from operating activities decreased, and cash inflow from financing activities significantly increased, leading to a substantial rise in cash and cash equivalents at period-end Condensed Consolidated Statement of Cash Flows (for the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net cash used in operating activities | (9,943) | (18,382) | | Net cash used in investing activities | (5,253) | 18,505 | | Net cash generated from financing activities | 362,156 | (11,861) | | Net increase in cash and cash equivalents | 346,960 | (11,738) | | Cash and cash equivalents at end of period | 410,975 | 151,282 | - Net cash generated from financing activities turned from an outflow of HK$11,861 thousand in the first half of 2024 to an inflow of HK$362,156 thousand in the first half of 2025, primarily due to HK$376,000 thousand cash inflow from share placing[10] - Net cash used in operating activities decreased from HK$18,382 thousand in the first half of 2024 to HK$9,943 thousand in the first half of 2025, indicating an improvement in operating cash outflow[10] Notes to the Financial Statements This section provides detailed notes on the Group's financial statements, covering accounting policies, revenue breakdown, segment information, and specific asset and liability details Basis of Presentation and Changes in Accounting Policies These financial statements are prepared in accordance with HKFRS, the Hong Kong Companies Ordinance, and GEM Listing Rules, reviewed by the Audit Committee, with no significant impact from new or revised standards effective January 1, 2025 - These financial statements are unaudited but have been reviewed by the Company's Audit Committee[11] - New or revised HKFRS accounting standards effective from January 1, 2025, had no significant impact on the Group's accounting policies[12] Revenue The Group's total revenue significantly decreased from HK$71,447 thousand in the first half of 2024 to HK$22,386 thousand in the first half of 2025, mainly due to a substantial reduction in lithium battery sales from continuing operations and ride-hailing service income from discontinued operations Revenue Composition (for the six months ended June 30) | Business Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Continuing operations | | | | Lithium battery sales | 11,600 | 44,666 | | Battery testing service income | 3,887 | 1,388 | | Discontinued operations | | | | Ride-hailing services and related income | 6,899 | 25,393 | | Total Revenue | 22,386 | 71,447 | - Continuing operations revenue decreased from HK$46,054 thousand to HK$15,487 thousand, with lithium battery sales revenue decreasing by approximately 74%[14]