Financial Performance - The group recorded revenue of approximately HKD 194,000,000 for the six months ended June 30, 2023, compared to HKD 164,000,000 for the same period in 2022, representing an increase of 18.3%[8]. - Other income amounted to approximately HKD 185,000,000 for the current period, compared to zero in the previous year[8]. - The loss attributable to owners of the company was approximately HKD 2,255,000, a significant reduction from HKD 6,579,000 in the prior year, indicating a decrease in loss of 65.7%[8]. - Revenue for the six months ended June 30, 2023, was HKD 193,710,000, an increase of 17.8% compared to HKD 164,418,000 for the same period in 2022[61]. - Other income for the same period was HKD 185,333,000, with no corresponding figure in 2022[61]. - Loss before tax for the six months was HKD 2,254,948,000, a significant improvement from a loss of HKD 6,579,484,000 in the previous year, representing a reduction of approximately 65.7%[61]. - Basic and diluted loss per share improved to HKD 0.009 from HKD 0.027 year-on-year, reflecting a decrease in loss per share of approximately 66.7%[61]. - The company reported a net cash outflow from operating activities of HKD 601,788,000, compared to an outflow of HKD 676,647,000 in the previous year[66]. Expenses and Liabilities - The group's administrative and other operating expenses were approximately HKD 4,015,000, up from HKD 3,867,000 in 2022, reflecting an increase of 3.8%[8]. - Current liabilities increased to HKD 6,326,376,000 from HKD 6,049,490,000, indicating a rise of approximately 4.6%[63]. - The interest expense on lease liabilities for the six months ended June 30, 2023, was HKD 61,030, a decrease of 70.3% from HKD 129,086 in the same period of 2022[86]. Cash and Assets - As of June 30, 2023, the group's cash and cash equivalents were HKD 230,605,000, down from HKD 323,642,000 as of December 31, 2022, a decrease of 28.8%[13]. - The group's net asset value as of June 30, 2023, was HKD 5,395,249,000, compared to HKD 7,650,684,000 as of December 31, 2022, representing a decline of 29.5%[13]. - Total assets decreased to HKD 10,757,088,000 as of June 30, 2023, down from HKD 12,066,820,000 at the end of 2022, reflecting a decline of about 10.9%[63]. - The total equity attributable to owners decreased to HKD 5,395,249,000 from HKD 7,650,684,000, a decline of about 29.5%[63]. Investments and Market Outlook - The investment market outlook remains cautious due to potential economic downturns and inflation concerns, with a recommendation for investors to be prudent in evaluating valuations and fundamentals[10]. - The company has not reported any new product launches or significant market expansion strategies during this period[68]. - The company has not engaged in any fundraising activities during the current period[15]. - The management anticipates a challenging global economic environment in the future and will adopt prudent measures to manage existing investments[26]. - The company has not entered into any arrangements for the purchase of its own shares or debt securities during the reporting period[44]. Shareholder Information - The stock option plan allows for the issuance of up to 11,600,000 shares, representing approximately 4.82% of the issued share capital as of June 30, 2023[34]. - The company’s directors and key executives hold a total of 58,075,000 shares, representing approximately 24.15% of the issued share capital as of June 30, 2023[40]. - Major shareholders include Hong Kong Kintai Fung Group Limited holding 57,950,000 shares, representing 24.10% of the issued share capital as of June 30, 2023[42]. - Sun Oxford Co., Limited holds 27,800,000 shares, accounting for 11.56% of the issued share capital[42]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules throughout the six months ending June 30, 2023[49]. - The audit committee reviewed the group's unaudited condensed consolidated financial statements for the six months ending June 30, 2023[51]. - The external auditor conducted a review of the financial statements in accordance with the relevant standards[52]. Changes in Management - Liu Li resigned as a non-executive director, and Yan Jia was appointed as a non-executive director effective May 12, 2023[47]. Fair Value and Financial Assets - The fair value of financial assets classified as "fair value through profit or loss" as of June 30, 2023, is HKD 10,306,930, compared to HKD 11,413,341 as of December 31, 2022, indicating a decrease of approximately 9.7%[79]. - The fair value of suspended listed equity securities is HKD 66,200 as of June 30, 2023, down from HKD 1,078,200 as of December 31, 2022, reflecting a significant decline[79]. - The fair value of listed equity securities (excluding suspended stocks) was HKD 10,240,730 as of June 30, 2023, compared to HKD 9,462,159 as of December 31, 2022[92]. - The company reported a net unrealized gain of HKD 2,140,479 for the six months ended June 30, 2023, compared to a net unrealized loss of HKD 3,716,228 for the same period in 2022[85]. Tax and Contingent Liabilities - As of June 30, 2023, the company had unutilized tax losses of HKD 106,628,362, up from HKD 101,719,030 as of December 31, 2022[88]. - The company has no significant contingent liabilities as of June 30, 2023, consistent with the previous year[25]. Other Notable Information - There were no significant acquisitions or disposals related to subsidiaries, associates, or joint ventures during the period[27]. - The company has not pledged any assets as of June 30, 2023, remaining unchanged from December 31, 2022[23]. - There were no major post-reporting period events up to the report date[53].
核心经济投资(00339) - 2023 - 中期财报