Financial Performance - For the six months ended September 30, 2025, the company reported revenue of HKD 123,889,000, a significant increase from HKD 49,113,000 in the same period last year, representing a growth of approximately 152.3%[6] - The cost of sales for the same period was HKD 121,681,000, compared to HKD 48,993,000 last year, indicating an increase of about 147.1%[6] - The company recorded a loss before tax of HKD 4,397,000, an improvement from a loss of HKD 5,477,000 in the previous year, reflecting a reduction of approximately 19.7%[6] - The total comprehensive loss for the period was HKD 4,634,000, compared to HKD 5,345,000 in the prior year, showing a decrease of about 13.3%[6] - The basic and diluted loss per share for the period was HKD 0.66, compared to HKD 1.21 in the same period last year, indicating an improvement of approximately 45.5%[6] - The company reported other income and gains of HKD 5,662,000, up from HKD 1,531,000 in the previous year, marking an increase of about 270.5%[6] - The net loss attributable to shareholders was 4,226 million yuan, indicating a challenging financial environment[8] - The company recorded a net increase in cash and cash equivalents of HKD 6,403,000 for the six months ended September 30, 2025, compared to an increase of HKD 8,951,000 in the previous year[9] - The company recorded a loss of approximately HKD 4,634,000 for the six months ending September 30, 2025, a 13% decrease compared to a loss of HKD 5,345,000 in the same period of 2024, attributed to improved performance in the mining and metals business and profitability in the software business[71] Assets and Liabilities - Total assets decreased from HKD 157,874 million to HKD 86,489 million, a decline of approximately 45%[7] - Current liabilities increased significantly from HKD 18,026 million to HKD 94,224 million, representing a growth of about 422%[7] - Net current assets decreased from HKD 68,463 million to HKD 63,650 million, a reduction of approximately 7%[7] - Non-current assets totaled HKD 32,737 million, up from HKD 31,484 million, indicating an increase of about 4%[7] - Total equity decreased from HKD 95,557 million to HKD 91,909 million, a decline of about 4%[7] - The company's total liabilities increased from HKD 18,026 million to HKD 94,224 million, a significant rise of approximately 422%[7] - As of September 30, 2025, total assets amounted to HKD 190,611,000, with mining and metal business assets at HKD 103,028,000 and software business assets at HKD 30,072,000[17] - The total liabilities as of September 30, 2025, were HKD 98,702,000, with mining and metal business liabilities at HKD 32,168,000 and software business liabilities at HKD 36,051,000[17] Cash Flow - Operating cash flow net amount was HKD (12,236,000) for the six months ended September 30, 2025, compared to HKD (1,342,000) in the previous year, indicating a decline in cash flow from operations[9] - Investment activities resulted in a net cash outflow of HKD (11,344,000) for the six months ended September 30, 2025, compared to a net inflow of HKD 32,921,000 in the same period last year[9] - Total cash and cash equivalents at the end of the period were HKD 47,469,000, down from HKD 59,748,000 at the end of the same period last year[9] Business Segments - The mining and metals business generated revenue of approximately HKD 88,608,000 for the six months ending September 30, 2025, up from HKD 49,113,000 in the same period of 2024[69] - The software business generated segment revenue of HKD 35,281,000 for the six months ending September 30, 2025, compared to no revenue in the same period of 2024, with a segment profit of approximately HKD 131,000[64] - The group sold 3,400 ounces of processed precious metals during the period, with revenue of HKD 88,608,000 and gross profit of HKD 672,000, compared to 2,592 ounces, HKD 49,113,000, and HKD 365,000 respectively for the six months ending September 30, 2024[54] Strategic Initiatives - The company aims to enhance its market presence and explore new strategies for growth, although specific details on new products or technologies were not disclosed in the report[6] - Future guidance suggests a focus on expanding market presence and enhancing product offerings[8] - New product development initiatives are underway, aiming to leverage emerging technologies[8] - The company plans to explore strategic acquisitions to bolster its market position[8] - The software business is expected to continue significant growth, supported by strong demand from government and downstream software users, with plans to allocate more resources to expand the customer base and revenue sources[66] Shareholder Information - The total equity as of September 30, 2025, was HKD 944,653,000, with 505,932,270 shares issued and fully paid[41] - Major shareholder Starmax Holdings Limited, beneficially owned by Chen Yihui, holds 101,711,160 shares, accounting for 20.10% of the issued share capital[95] - As of September 30, 2025, the total shares held by executive director Chen Yihui amount to 148,302,360, representing 29.31% of the company's total issued shares[91] Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and have been reviewed by the company's audit committee[11] - The company has complied with the corporate governance code as per GEM listing rules as of September 30, 2025[102] - The audit committee consists of three independent non-executive directors who reviewed the interim results announcement[105] Market Trends and Future Outlook - Nickel prices on the London Metal Exchange showed a downward trend during the period, fluctuating between approximately USD 13,800 and USD 16,000 per metric ton, despite rising demand from electric vehicles and stainless steel industries[58] - The group anticipates obtaining approval from the National Development and Reform Commission for the development of the second phase of the Baishiquan copper-nickel mine by the end of 2025, with construction expected to commence in the second half of 2026[58] - The group is exploring potential collaboration opportunities for the issuance of a silver-backed digital currency with HashKey Token Limited and Aide Securities, pending approval from the Securities and Futures Commission[55]
天时资源(08028) - 2026 - 中期业绩