胡桃资本(00905) - 2025 - 中期业绩

Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income The Group's H1 2025 loss widened to HK$26,747 thousand, mainly from cryptocurrency impairment and administrative expenses, but revaluation gains led to positive total comprehensive income Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Metric | June 30, 2025 (HK$ thousand) | June 30, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 960 | 166 | 794 | +478.3% | | Loss on disposal of cryptocurrencies | (819) | – | (819) | N/A | | Impairment loss recognized on cryptocurrencies | (14,435) | – | (14,435) | N/A | | Net loss from fair value changes of financial assets at fair value through profit or loss | (2,331) | (11,786) | 9,455 | -80.2% | | Administrative and other operating expenses | (10,023) | (7,291) | (2,732) | +37.5% | | Loss before income tax | (26,747) | (18,650) | (8,097) | +43.4% | | Loss for the period attributable to owners of the Company | (26,747) | (18,650) | (8,097) | +43.4% | | Revaluation gain on cryptocurrencies | 64,702 | – | 64,702 | N/A | | Total comprehensive income/(expense) for the period attributable to owners of the Company | 37,955 | (18,650) | 56,605 | N/A | | Basic and diluted loss per share (HK cents) | (2.55) | (2.26) | (0.29) | +12.8% | Condensed Consolidated Statement of Financial Position As of June 30, 2025, the Group's net assets significantly grew to HK$220,729 thousand, primarily from increased cryptocurrency assets, reflecting a strengthened financial position Condensed Consolidated Statement of Financial Position Summary | Metric | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Non-current assets | 7,158 | 7,169 | (11) | -0.2% | | Current assets | 224,585 | 133,958 | 90,627 | +67.7% | | Of which: Cryptocurrencies | 138,695 | 41,012 | 97,683 | +238.2% | | Of which: Financial assets at fair value through profit or loss | 80,402 | 85,444 | (5,042) | -5.9% | | Current liabilities | 11,014 | 13,468 | (2,454) | -18.2% | | Net current assets | 213,571 | 120,490 | 93,081 | +77.2% | | Net assets | 220,729 | 127,659 | 93,070 | +72.9% | | Total equity | 220,729 | 127,659 | 93,070 | +72.9% | | Net assets per share (HK$) | 0.21 | 0.12 | 0.09 | +75.0% | Notes to the Condensed Consolidated Financial Statements These notes provide comprehensive details on the Group's accounting policies, financial statement preparation, key data changes, cryptocurrency measurement policy, related party transactions, and investment portfolio - The Group's principal business activities involve investing in listed equity securities, unlisted equity and debt securities, unlisted investment funds, and cryptocurrencies[7] - The condensed consolidated financial statements are presented in HK$, with all values rounded to the nearest thousand[7] - The Board adopted the going concern basis for preparing the financial statements, expecting the Group to have sufficient resources to continue operations in the foreseeable future[7] 1. General Information and Basis of Preparation This section outlines Walnut Capital Limited's registration, principal business (investing in securities and cryptocurrencies), and the preparation basis of condensed consolidated financial statements under HKAS 34 and Listing Rules on a going concern basis - The Company was incorporated in the Cayman Islands and continued in Bermuda, with its shares listed on the Hong Kong Stock Exchange[7] - The Group's principal business involves investing in listed equity securities, unlisted equity and debt securities, unlisted investment funds, and cryptocurrencies[7] - The financial statements are prepared in accordance with HKAS 34 and the Listing Rules, and presented in HK$[7] 2. Principal Accounting Policies The condensed consolidated financial statements are primarily prepared on a historical cost basis, with certain financial instruments and cryptocurrencies measured at fair value or revalued amounts, and new HKFRS amendments having no material impact - The condensed consolidated financial statements are prepared on a historical cost basis, except for certain financial instruments and cryptocurrencies measured at fair value or revalued amounts[8] - Revisions to Hong Kong Financial Reporting Standards were first applied in this interim period but had no material impact on the Group's financial position and performance[9] 3. Change in Accounting Policy for Measurement of Cryptocurrencies The Group changed its cryptocurrency measurement policy from the cost model to the revaluation model on May 26, 2025, to better reflect economic substance and financial position, applying this change prospectively without restating comparative figures - The Group changed its cryptocurrency measurement policy from the cost model to the revaluation model on May 26, 2025[10] - Under the revaluation model, cryptocurrencies are presented at revalued amounts less subsequent accumulated impairment, providing more reliable and relevant financial information[10] - The change is applied prospectively, and comparative figures for 2024 are not restated[10] 4. Revenue For the six months ended June 30, 2025, the Group's revenue significantly increased to HK$960 thousand, primarily due to a substantial rise in interest income, while dividend income and bond interest income decreased or became zero Revenue Sources | Revenue Source | June 30, 2025 (HK$ thousand) | June 30, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Interest income | 936 | – | 936 | N/A | | Dividend income | 24 | 68 | (44) | -64.7% | | Bond interest income | – | 98 | (98) | -100% | | Total Revenue | 960 | 166 | 794 | +478.3% | 5. Segment Information The Group's chief operating decision maker considers its business to be a single operating segment, investing in various securities and cryptocurrencies, thus no segment information is presented - The chief operating decision maker considers the Group to be a single business segment, hence no segment information is presented[12] - The Group's principal business activities involve investing in listed equity securities, unlisted equity and debt securities, unlisted investment funds, and cryptocurrencies[12] 6. Other Income For the six months ended June 30, 2025, the Group had no other income, compared to HK$360 thousand from disposal of property, plant and equipment in the prior period Other Income Sources | Income Source | June 30, 2025 (HK$ thousand) | June 30, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Gain on disposal of property, plant and equipment | – | 360 | (360) | -100% | 7. Finance Costs The Group's finance costs for the six months ended June 30, 2025, remained stable at HK$99 thousand, entirely attributable to interest on non-convertible bonds Finance Costs Sources | Finance Cost Source | June 30, 2025 (HK$ thousand) | June 30, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Interest on other financial liabilities – non-convertible bonds | 99 | 99 | 0 | 0% | [8. Loss Before Income Tax](index=9&type=section&id=8.%20Loss%20Before%20