Investment Strategy - The investment strategy is structured around five pillars: core-holding-centered unlisted equity investments, debt investments, fund investments, listed equity investments, and artwork investments[19]. - The company underwent comprehensive adjustments to its investment strategy, re-establishing its five-core investment strategy[13]. - The investment portfolio is diversified into five strategies: unlisted equity investment (49.91%), fund investment (15.72%), listed equity investment (1.00%), debt investment (21.79%), and artwork investments (11.58%) as of the reporting date[26]. - The investment strategy emphasizes a balanced and efficient portfolio to provide stable returns to shareholders[23]. - The company focused on enhancing portfolio diversity by deploying across multiple asset classes, including artificial intelligence and quantum computing[15]. Investment Performance - During the six-month period ended 30 September 2025, new investments amounted to HK$1,302.41 million, while divestments totaled HK$990.38 million[18]. - The Group's investment in 鴻鵠教育 amounts to HK$1,655.00 million as of September 30, 2025, representing a 29.99% economic interest[66][70]. - The Group's debt investment holdings reached HK$2,278.49 million as of September 30, 2025, with new investments of HK$287.72 million and exits totaling HK$849.16 million during the period[71][76]. - The Group's fund investment holdings amounted to HK$1,643.39 million as of September 30, 2025, with new investments of HK$25.00 million and exits of HK$44.95 million during the period[74][77]. - The Group's holdings in 恒嘉美聯 are valued at HK$460.61 million, representing a 14.92% equity stake[62]. Financial Results - Profit for the period was HK$70.38 million, significantly up from HK$24.37 million for the same period last year[95]. - The Group recorded total revenue of HK$119.55 million during the period, a decrease of 7.25% compared to HK$128.90 million for the same period last year[95]. - Total comprehensive income for the period attributable to owners reached HK$129,408,000, compared to HK$96,876,000 in the previous year, indicating a 33.5% growth[190]. - Operating profit surged to HK$245,107,000, compared to HK$24,394,000 in the previous year, reflecting a significant increase[189]. - The net unrealised gain on investments was HK$79.33 million, a significant recovery from a loss of HK$101.10 million in the previous year[100]. Asset Management - As of September 30, 2025, the company's holdings in unlisted equity investments reached HK$5.21845 billion, focusing on long-term growth potential[27]. - Wealthink AI's holdings in unlisted equity investments amounted to HK$4,524.05 million as of September 30, 2025, with no new investments or divestments during the period[46]. - The Group's position in the 時代領航基金 was HK$769.06 million as of September 30, 2025, with the fund's total scale being RMB1.539 billion[79]. - The Group's exposure to foreign exchange risk was RMB2,219.46 million, equivalent to HK$2,422.98 million, as of 30 September 2025, an increase from RMB1,971.55 million (HK$2,109.85 million) as of 31 March 2025[127]. - The Group's debt investment portfolio recorded provisions for expected credit losses under HKFRS 9 during the period[71][76]. Shareholder Information - The total issued share capital of the Company as of September 30, 2025, was 10,520,324,505 shares[1]. - GoFintech Quantum Innovation Limited holds 3,064,454,515 shares, representing 29.13% of the Company's issued share capital[172]. - Marvel Champion Investment Limited is a beneficial owner of 2,751,339,130 shares, accounting for 26.15% of the Company's issued share capital[172]. - As of September 30, 2025, no Directors or chief executive of the Company had any Discloseable Interests or Short Positions in the shares, underlying shares, and debentures of the Company[165]. - The independent review report confirmed that the interim financial information was prepared in accordance with HKAS 34, ensuring compliance[184]. Market Conditions - The international political landscape remained uncertain, impacting risk appetite and capital flows during the period[14]. - The company aims to enhance resilience against market volatility through diversified investments, including artwork[23]. - OPIM is positioned to benefit from the increasing scale of China's private funds in the overseas market and the opening-up of its financial markets[45]. - The strategic partnerships established by OPIM in Singapore, Europe, and Mainland China are aimed at expanding its customer base and service offerings[44]. Operational Efficiency - Operating and administrative expenses decreased to HK$17.30 million from HK$18.25 million, primarily due to reduced staff costs[102]. - Total staff costs for the period were HK$4.97 million, a decrease from HK$8.41 million for the six months ended 30 September 2024[121]. - The company has confirmed compliance with the Corporate Governance Code throughout the reporting period[144]. - The company has adopted a policy for Director and Employee dealings in the company's securities, ensuring compliance with the Model Code[150].
华科智能投资(01140) - 2026 - 中期财报