Financial Performance - Revenue for the six months ended December 31, 2021, was HKD 181,000, a decrease of 3.2% from HKD 187,000 in the same period of 2020[5]. - Other income significantly dropped to HKD 3,000 from HKD 22,946, indicating a decline of approximately 99.9%[5]. - The loss before tax for the period was HKD (46,093,000), compared to HKD (27,874,000) in the prior year, representing an increase of 65.5%[5]. - Total comprehensive income for the period was HKD (31,445,000), up from HKD (20,316,000) in the previous year, indicating a rise of 55.5%[5]. - The company reported a loss of HKD 46,093,000 for the six months ended December 31, 2021, compared to a loss of HKD 27,874,000 for the same period in 2020, representing an increase in loss of approximately 65.5%[12]. - The group reported a loss attributable to shareholders of HKD 46,093,000 for the six months ended December 31, 2021, compared to a loss of HKD 27,874,000 in the same period of 2020, indicating an increase in loss of approximately 65.5%[33]. - For the six months ended December 31, 2021, the company reported a total loss of HKD 37,648,000, compared to a loss of HKD 37,341,000 for the same period in 2020[25]. Assets and Liabilities - The net asset value as of December 31, 2021, was HKD 768,086,000, down from HKD 799,531,000 as of June 30, 2021, a decrease of 3.9%[7]. - Non-current assets totaled HKD 689,980,000, a decrease from HKD 727,548,000 as of June 30, 2021, reflecting a decline of 5.1%[7]. - Current assets increased to HKD 120,812,000 from HKD 106,833,000, marking a growth of 13%[7]. - The company’s total assets as of December 31, 2021, were valued at HKD 768,086,000, down from HKD 799,531,000 at the end of 2020[10]. - The company’s accumulated losses increased to HKD 1,687,944,000 as of December 31, 2021, compared to HKD 1,641,851,000 at the end of 2020[10]. - The company’s total liabilities were not allocated to reportable segments, indicating a focus on asset management without direct liabilities impacting segment performance[27]. Cash Flow and Financing - The company recorded a net cash inflow from operating activities of HKD 3,539,000 for the six months ended December 31, 2021, compared to a net cash outflow of HKD 9,965,000 for the same period in 2020[12]. - The company’s financing activities resulted in a net cash outflow of HKD 716,000 for the six months ended December 31, 2021, compared to HKD 35,114,000 for the same period in 2020[12]. - The company may need to obtain additional equity or debt financing to support future capital plans, depending on various external factors[17]. - The company’s operating cash flow before changes in working capital showed a loss of HKD 7,463,000 for the six months ended December 31, 2021[12]. Investments - The group held 436,079,429 shares of China Urban Infrastructure Group, representing about 13.94% of its issued share capital, with an investment market value of HKD 65,412,000 as of December 31, 2021, up from HKD 54,074,000 as of June 30, 2021[38]. - The group reported a total of HKD 609,882,000 in non-listed equity investments as of December 31, 2021, down from HKD 654,067,000 as of June 30, 2021, indicating a decrease of about 6.7%[37]. - The group has invested in several non-listed equity investments, including a 30% stake in Henan Tianguan Energy Biochemical Technology Co., which produces and sells denatured fuel ethanol and biodegradable plastics, with a fair value of HKD 39,313,000 as of December 31, 2021[48]. - The investment in Hunan South New Energy Co., also at 30%, focuses on new energy technology development, with a fair value of HKD 150,065,000 as of December 31, 2021[48]. - The group has made significant investments in bioenergy, focusing on reducing greenhouse gas emissions and enhancing resilience in agriculture and food processing[119]. Segment Performance - The clean energy segment reported a loss of HKD 61,324,000 for the six months ended December 31, 2021, compared to a loss of HKD 11,801,000 in the previous year[25]. - The real estate and natural gas segment reported assets of HKD 104,712,000 as of December 31, 2021, an increase from HKD 86,562,000 as of June 30, 2021[27]. - The group plans to exit investments in the micro-lending industry due to declining performance and increasing operational risks, while continuing to focus on investments in the bioenergy sector[119]. Corporate Governance - The company has complied with the corporate governance code, except for the combined role of Chairman and CEO held by 杜林東, which the board believes is suitable for the current stage of development[152]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group and recommended the unaudited interim consolidated financial statements for board approval[155]. Shareholder Information - Major shareholders owning 5% or more of the company's ordinary shares include 甘小清 with 1,117,780,000 shares (10.19%), 鴻景控股有限公司 with 1,016,860,000 shares (9.27%), and 張祖豪 with 1,000,000,000 shares (9.11%)[146]. - The company has not granted, exercised, or forfeited any share options under the share option scheme adopted on December 15, 2017, as of December 31, 2021[148].
中国金融国际(00721) - 2022 - 中期财报