Financial Performance - The Group's revenue for the six months ended June 30, 2022, was approximately HK$2.4 million, a decrease from approximately HK$3.8 million for the same period in 2021[19]. - Loss attributable to owners of the Company for the Reporting Period was approximately HK$33.7 million, significantly higher than the loss of approximately HK$3.0 million for the Corresponding Period[19]. - Basic loss per share for the Group was HK cents 7.81 for the Reporting Period, compared to HK cents 0.83 for the Corresponding Period[19]. - The Group recorded a revenue of approximately HK$2.4 million for the Reporting Period, a decrease of approximately 36.8% compared to HK$3.8 million in the Corresponding Period[30]. - The Group suffered a loss attributable to owners of approximately HK$33.7 million, compared to a loss of approximately HK$3.0 million for the Corresponding Period[30]. - The Group reported a loss for the period attributable to owners of HK$33,727,000, compared to a loss of HK$3,028,000 in the previous period[139]. - Basic and diluted loss per share was HK$7.81, compared to HK$0.83 in the prior period[139]. - The company experienced a significant increase in accumulated losses, reaching HK$96,924,000[143]. - The company reported a total comprehensive expense of HK$33,727,000 for the period[143]. Dividends and Shareholder Returns - The Board resolved not to declare an interim dividend for the Reporting Period, consistent with the Corresponding Period where no dividend was declared[19]. - The company did not declare any interim dividend for the reporting period, consistent with the previous year[167]. - No discretionary bonuses were paid during the period, maintaining the same policy as in the prior year[163]. Assets and Liabilities - As of 30 June 2022, the Group's net assets were approximately HK$110.7 million, down 23.4% from HK$144.4 million at 31 December 2021[38]. - The Group's borrowings were approximately HK$17.9 million as of 30 June 2022, compared to HK$21.3 million at 31 December 2021, with a gearing ratio of approximately 16.5%[38]. - Total assets less current liabilities decreased to HK$124,238,000 from HK$158,111,000[141]. - Net current assets declined to HK$48,648,000, down from HK$82,824,000[141]. - The company's net assets were HK$110,676,000, a decrease from HK$144,403,000[141]. - The net asset value per share was HK$0.26, down from HK$0.33[141]. Investments and Securities - The Group plans to focus on investing in trading securities, private equity funds, and private enterprises with potential prospects in the second half of 2022[26]. - The Group's fair value loss on listed securities was approximately HK$33.6 million during the Reporting Period, significantly higher than HK$5.7 million in the Corresponding Period[30]. - The Group's unlisted investments were approximately HK$105.9 million as of 30 June 2022, slightly up from HK$103.8 million at 31 December 2021[31]. - The Group's trading securities were pledged to a securities broker, with a carrying amount of approximately HK$6.2 million as of June 30, 2022, up from HK$1.2 million at the end of 2021[92]. - The Group views its investments in Tencent, Alibaba, and SMIC as long-term holdings, expecting to monitor their performance closely[67][70][76]. Cash Flow and Financing - The Group had available funds of approximately HK$0.2 million as of 30 June 2022, down from HK$1.8 million at 31 December 2021[37]. - Net cash generated from operating activities was HK$582,000 for the six months ended June 30, 2022, compared to a net cash used of HK$22,401,000 in the same period of 2021[146]. - The Group's net cash used in financing activities was HK$5,603,000, compared to net cash generated of HK$14,743,000 in the prior year[146]. - The total cash flow used in financing activities included a redemption of a promissory note amounting to HK$5,000,000[146]. Corporate Governance - The Company has complied with the Corporate Governance Code during the six months ended June 30, 2022, with a noted deviation regarding the separation of the roles of chairman and chief executive officer[4]. - The chief executive officer position has been vacant since June 20, 2022, following the resignation of Ms. Chan Carman Wing Yan[4]. - The Board will continue to monitor and review the Company's corporate governance practices to ensure compliance with the Code[4]. - The new bye-laws of the Company were adopted on June 17, 2022, and are available on the Stock Exchange's website[115]. Share Options and Capital Structure - The Company has adopted a share option scheme allowing for the issuance of up to 43,167,222 shares, representing approximately 8.33% of the issued share capital, with a maximum of 10% of shares in issue as of the adoption date[113][114]. - No share options had been granted or exercised under the scheme as of the date of the report[114]. - The share option scheme is valid for ten years from the adoption date, with approximately 9 years and 10 months remaining[117]. - No share options have been granted, agreed to be granted, exercised, cancelled, expired, or lapsed as of the report date[117]. Market Conditions and External Factors - The external environment, including COVID-19 and the Russo-Ukrainian war, is expected to continue affecting the Group's financial performance[25].
中国天弓控股(00428) - 2022 - 中期财报