Financial Performance - The company reported a net profit of $140,452,686 for the six months ended June 30, 2025, compared to $59,503,492 for the same period in 2024, representing an increase of 136%[5] - Total comprehensive income for the period was $142,432,301, up from $56,610,309 in the previous year, marking a growth of 151%[5] - The company experienced a significant increase in pre-tax profit, which rose to $190,838,967 from $72,310,340, representing a growth of 164%[8] - Pre-tax profit for the six months ended June 30, 2025, was $140.45 million, compared to $59.50 million for the same period in 2024, reflecting an increase of 136.5%[34] - The net income from financial assets for the period was $188.75 million, a significant increase of 151.16% from $75.15 million in the previous year[52] Assets and Liabilities - The company's total assets, after deducting current liabilities, increased to $960,577,905 from $772,980,664, reflecting a growth of 24%[6] - Total assets reached $992.67 million as of June 30, 2025, compared to $806.79 million at the end of 2024, an increase of 23.0%[30] - Total liabilities increased to $208.95 million in June 2025 from $159.42 million in December 2024, representing a rise of 31.1%[30] - Deferred tax liabilities increased to $175.03 million as of June 30, 2025, from $124.45 million at the end of 2024, reflecting a growth of 40.6%[38] Shareholder Returns - The company declared a dividend of $6,093,321 for the fiscal year 2024, which was paid during this reporting period[7] - The company declared an interim dividend of $0.04 per share for the six months ended June 30, 2025, totaling $12.19 million, compared to $6.09 million for the same period in 2024[37] - The interim and special interim dividends declared for the six months ending June 30, 2025, are $0.04 per share, totaling $12,186,641, compared to $6,093,321 for the same period in 2024[115] Financial Assets and Investments - The fair value of financial assets measured at fair value through profit or loss increased to $955,982,410 from $770,688,567, an increase of 24%[6] - The fair value of financial assets and liabilities as of June 30, 2025, is reported at $964,983,028, an increase from $775,652,669 as of December 31, 2024, representing a growth of approximately 24.4%[15] - The company reported a net gain of $133,770,497 from financial assets measured at fair value through profit or loss for the six months ending June 30, 2025[17] - The total investment income for the six months ended June 30, 2025, was $1,693,182, a decrease from $1,931,659 in 2024, reflecting a decline of 12.3%[23] Segment Performance - The total segment profit for the financial services segment was $78,694,748 for the six months ended June 30, 2025, compared to $60,430,924 in 2024, showing an increase of 30.2%[28] - The total segment profit for the information technology segment was $112,003,648 for the six months ended June 30, 2025, compared to $12,437,976 in 2024, indicating a significant increase[28] Administrative Expenses - The company’s administrative expenses significantly decreased to $1,094,013 from $5,493,400, a reduction of approximately 80%[5] - The total administrative expenses for the period were $(1,094,013), compared to $(5,493,400) in the previous year, reflecting a reduction of 80%[28] Financial Risk Management - The company’s financial risk management policy remains unchanged during the interim period[12] - The report indicates that the financial risk factors include market risk, credit risk, and liquidity risk, which are inherent in the company's operations[11] Compliance and Governance - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period, except for the establishment of a remuneration committee[126] - The interim report has been reviewed by KPMG in accordance with the Hong Kong Institute of Certified Public Accountants' standards[125] - The company has adopted the standard code for securities transactions by directors as per the listing rules Appendix C3, confirming compliance during the reporting period[128] Market and Economic Conditions - The global economic growth is projected to slow down to 2.3% in 2025, significantly down from previous forecasts due to rising trade barriers and increased policy uncertainty[105] - China's economic growth is expected to achieve a target of around 5.0% in 2025, supported by proactive macroeconomic policies and a focus on demand-side reforms[105] - The Consumer Price Index (CPI) in China decreased by 0.1% year-on-year in the first half of 2025, indicating low inflation levels[104]
招商局中国基金(00133) - 2025 - 中期财报