Financial Performance - The group recorded revenue of approximately HKD 69,000, a decrease from HKD 83,000 in the same period last year, primarily due to reduced dividend income from listed equity securities[9]. - The group achieved a profit attributable to owners of approximately HKD 5,107,000, compared to a loss of HKD 3,758,000 in the previous year, driven by waived director salaries and increased fair value gains on financial assets[9]. - Total revenue for the six months ended June 30, 2025, was HKD 69,163,000, a decrease of 16.0% compared to HKD 82,643,000 for the same period in 2024[76]. - Other income for the same period was HKD 5,572,694,000, with a significant increase attributed to fair value changes in financial assets[76]. - Profit before tax for the period was HKD 5,107,044,000, compared to a loss of HKD 3,757,925,000 in the previous year, indicating a turnaround in performance[76]. - The total comprehensive income for the period was HKD 5,105,890,000, a significant recovery from a loss of HKD 3,758,270,000 in the previous year[76]. - Basic and diluted earnings per share for the period were HKD 0.018, compared to a loss per share of HKD 0.013 in the same period last year[76]. - The company reported a foreign exchange loss of HKD 10,192,000 during the period, impacting overall comprehensive income[76]. Expenses and Cost Management - The group's administrative and operating expenses were approximately HKD 2,692,000, down from HKD 4,282,000 in the previous year, mainly due to some directors waiving their salaries[9]. - The total employee cost for the six months ended June 30, 2025, was HKD 999,000, a decrease from HKD 2,282,000 in the previous year[26]. - The total director's remuneration waived amounted to HKD 1,972,694 and HKD 3,600,000 for the six months ended June 30, 2025, contributing to other income[99]. - The total interest expense on lease liabilities decreased to HKD 41,015 in the first half of 2025 from HKD 62,593 in the same period of 2024, reflecting improved cost management[101]. - The company reported a significant decrease in depreciation expenses for property, plant, and equipment, from HKD 73,907 in 2024 to HKD 2,415 in 2025, indicating a reduction in asset write-downs[102]. Assets and Liabilities - As of June 30, 2025, the group's cash and cash equivalents amounted to HKD 2,690,945, significantly up from HKD 354,521 as of December 31, 2024[14]. - The company's total assets as of June 30, 2025, amounted to HKD 9,706,155,000, an increase from HKD 5,964,680,000 as of December 31, 2024[78]. - Current liabilities decreased significantly from HKD 7,819,343,000 to HKD 4,468,989,000, improving the company's liquidity position[78]. - The net asset value as of June 30, 2025, was HKD 4,363,829,000, recovering from a net loss of HKD 742,061,000 in the previous year[78]. - The company has no significant capital commitments as of June 30, 2025[24]. - The company has no major contingent liabilities as of June 30, 2025[28]. Financing Activities - The group is exploring various financing options, including debt financing and share placements, to support its operations and expansion[15]. - The company announced a rights issue on May 9, 2025, offering 144,000,000 shares at HKD 0.07 per share, aiming to raise approximately HKD 10.08 million[19]. - The company completed the rights issue on July 7, 2025, as detailed in subsequent announcements[20]. - The net proceeds from the rights issue are estimated to be around HKD 9.2 million, intended for general working capital[68]. - The company received HKD 2,579,535 from share application money during the financing activities, indicating strong investor interest[82]. - The company raised approximately HKD 10.08 million through a rights issue, with a subscription price of HKD 0.07 per share, completed on July 7, 2025[67][68]. Shareholder Information - Major shareholders holding 5% or more of the company's shares include CICC Technology Holdings Limited with 42,460,000 shares (14.74%) and Hong Kong Jintai Feng Group Limited with 37,720,000 shares (13.10%)[49]. - The total number of issued and fully paid ordinary shares as of June 30, 2025, was 288 million, with a par value of HKD 0.02 per share[114]. - As of June 30, 2025, the interests of directors and key executives in the company's shares include 42,460,000 shares held by Mr. Yang Zhi Cheng, representing 14.74% of the issued shares[45][47]. - Major shareholder Liu Li holds a 13.10% stake in the company, equivalent to 37,720,000 shares out of 288,000,000 issued shares as of June 30, 2025[53]. Corporate Governance and Compliance - The company has complied with corporate governance codes and relevant laws and regulations throughout the reporting period[59][60]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2025[65]. - The company has adopted a standard code for securities trading by directors, ensuring compliance with the relevant regulations[58]. - There were no significant transactions or contracts involving directors with substantial interests during the reporting period[54]. - No major disputes occurred with employees, suppliers, or other stakeholders during the reporting period[61]. Investment Activities - The group continues to invest in listed equity securities, with a diversified portfolio including Alibaba Group, Tencent Holdings, and others as of June 30, 2025[13]. - The company is actively seeking and evaluating high-potential investment opportunities to enhance its investment portfolio and increase long-term shareholder returns[29]. - The company has no plans for significant investments or capital assets at the report date but will conduct feasibility studies for any potential investment opportunities[32]. - The fair value of financial assets measured at fair value through profit or loss increased to HKD 6,687,060 as of June 30, 2025, from HKD 5,170,700 as of December 31, 2024[95]. - For the six months ended June 30, 2025, the unrealized gains from investments amounted to HKD 1,516,360, compared to HKD 504,420 for the same period in 2024, indicating a significant increase[103]. Other Relevant Information - The company did not engage in any securities trading or hold treasury shares during the reporting period[64]. - The company did not declare any interim dividends for the six months ended June 30, 2025, consistent with the previous year[105]. - The company has unutilized tax losses of HKD 118,868,784 as of June 30, 2025, which can offset future taxable profits[104]. - The company did not purchase or sell any property, plant, and equipment during the six months ended June 30, 2025, maintaining its asset base[107].
中国科创产业投资(00339) - 2025 - 中期财报