Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HKD 49,643,000, a significant increase from HKD 16,808,000 in the same period last year, representing a growth of 195.8%[16] - The gross profit for the same period was HKD 4,512,000, down from HKD 9,391,000, indicating a decline of 52.0%[16] - The company incurred a loss before tax of HKD 22,363,000 compared to a profit of HKD 20,095,000 in the previous year, reflecting a negative swing of HKD 42,458,000[16] - The company’s total other income and gains for the period were HKD 1,103,000, a decrease from HKD 15,044,000 in the previous year[16] - For the six months ended June 30, 2022, the total comprehensive loss amounted to HKD 8,647 million, compared to a profit of HKD 19,740 million for the same period in 2021[19] - The company's basic loss per share for the period was HKD (0.86), a significant decline from HKD 3.69 in the previous year[19] - The company recorded a loss attributable to shareholders of approximately 9,000,000 HKD for the six months ended June 30, 2022[43] Revenue Breakdown - Revenue from the mainland China market was HKD 2,426,000, down from HKD 8,982,000 in the previous year, indicating a decline of 73%[53] - Revenue from Hong Kong increased to HKD 44,371,000 from HKD 7,046,000, showing a growth of 530%[53] - Major customer B contributed HKD 14,103,000 in revenue, up from HKD 5,842,000, reflecting an increase of 141%[54] - The total revenue from customer contracts amounted to HKD 48,751,000, with significant contributions from various segments including asset financing and trading[56] - The revenue from the U.S. market was HKD 2,846,000, a substantial increase from HKD 780,000 in the previous year, marking a growth of 264%[53] Expenses and Costs - The company’s administrative expenses increased to HKD 21,237,000 from HKD 16,294,000, marking a rise of 30.0%[16] - The company’s financing costs were reported as nil for the current period, compared to HKD 25,782,000 in the previous year[16] - The cost of sold inventory was HKD 34,383 million, significantly higher than HKD 6,490 million from the previous year, marking an increase of approximately 429.5%[67] - Selling and administrative expenses rose to approximately HKD 21,200,000, compared to HKD 16,300,000 in the previous period[147] Assets and Liabilities - Non-current assets increased to HKD 175,967 million as of June 30, 2022, up from HKD 168,974 million at the end of 2021[21] - Current assets rose to HKD 382,078 million, compared to HKD 304,118 million at the end of 2021, driven by an increase in trade receivables and inventories[21] - The total liabilities increased to HKD 420,921 million, reflecting a rise in trade payables and other payables[21] - The net value of current liabilities was reported at HKD (35,417) million, an improvement from HKD (116,803) million at the end of 2021[23] - The total equity attributable to shareholders was HKD 131,053 million as of June 30, 2022, compared to HKD 41,394 million at the end of 2021[23] Cash Flow - The company reported a net cash flow from operating activities of (76,983) HKD million for the period[38] - The net cash flow from investing activities was (15,164) HKD million, while the cash inflow from the sale of equity investments was 4,375 HKD million[38] - The net cash flow from financing activities was 85,352 HKD million, with significant proceeds from share placements amounting to 4,228 HKD million[38] - The cash and cash equivalents decreased by 6,795 HKD million, ending the period at 80,561 HKD million[38] Business Operations - The company operates in six segments: silver mining, oil and gas, asset financing, tourism, photovoltaic, and trading[47] - The company is in the process of renewing exploration licenses for its mining operations, which are set to maintain their status until December 9, 2022[7] - The group has resumed production at the Western Mine since the third quarter of the year, after being affected by COVID-19 measures and local government mandates[111] - The group is engaged in silver mining and sales, photovoltaic power generation, tourism agency services, and natural gas and oil exploration in the United States[107] Future Plans and Investments - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20] - The company aims to expand its market presence and enhance product offerings in the renewable energy sector, particularly in solar energy[51] - The group plans to invest in more solar photovoltaic system projects and other renewable energy opportunities in Hong Kong, China, and Japan[96] - The company is preparing to apply for mining permits for the Eastern Mine, with infrastructure construction planned upon approval[114] Corporate Governance - The board believes the company has complied with the applicable corporate governance code throughout the reporting period[190] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial statements for 2022[192] - The audit committee is responsible for overseeing the financial reporting process, internal controls, and risk management systems of the group[192]
金山能源(00663) - 2022 - 中期财报