Financial Performance - The company reported a loss of approximately HKD 353.13 million for the six months ended June 30, 2022, compared to a loss of approximately HKD 128.15 million for the same period in 2021[26]. - The net loss from fair value changes of financial assets amounted to approximately HKD 499.90 million, significantly higher than the net loss of approximately HKD 120.55 million in the previous year[26]. - The group reported a net loss attributable to shareholders of HKD 353.1 million for the six months ended June 30, 2022, compared to a loss of HKD 128.2 million in the same period of 2021[71]. - The company incurred a total comprehensive loss of HKD 353,126,452 for the six months ended June 30, 2022, compared to a loss of HKD 128,150,058 for the same period in 2021[75]. - The company reported a loss attributable to owners of the company of HKD 353,126,452 for the six months ended June 30, 2022, compared to a loss of HKD 128,150,058 for the same period in 2021, resulting in a basic and diluted loss per share of HKD 12.17[126]. Financial Position - As of June 30, 2022, the company's net asset value decreased to approximately HKD 1.47871 billion from HKD 1.83184 billion as of December 31, 2021[26]. - The company had total borrowings of HKD 0 as of June 30, 2022, down from HKD 390 million as of December 31, 2021, resulting in a debt-to-equity ratio of approximately 0%[29]. - Cash and cash equivalents were approximately HKD 14.66 million as of June 30, 2022, compared to approximately HKD 265.24 million as of December 31, 2021[29]. - The total equity as of June 30, 2022, was HKD 1,478,710,282, down from HKD 1,831,836,734 as of December 31, 2021, reflecting a decrease of 19.3%[75]. - Total assets as of June 30, 2022, amounted to HKD 1,480,907,605, a decrease of 33.5% from HKD 2,228,233,642 as of December 31, 2021[73]. Investment Activities - The company is actively seeking quality investment opportunities in logistics infrastructure, supply chain services, advanced manufacturing, and new energy sectors[45]. - The company agreed to invest $25 million to acquire 7,245 shares of Jolly, which issued a total of 31,449 shares[46]. - The group aims to leverage resources from the China Development Bank to enhance operational efficiency and expand business opportunities[45]. - The company sold a 4.82% stake in P.G. Logistics for RMB 192.8 million, completing the transaction on July 15, 2022[47]. - The fair value of the group's investment in Meicai as of June 30, 2022, was approximately HKD 423,720,000, down from HKD 565,463,000 as of December 31, 2021[146]. Financial Management - The company maintains a prudent financial management strategy to minimize financial risks and meet operational needs while seeking investment opportunities[27]. - The board believes the company maintains a robust financial position as of June 30, 2022[29]. - The company did not disclose any changes in its capital structure during the period[30]. - The company has not recorded any taxable profits in Hong Kong for the periods under review, thus no provision for Hong Kong profits tax has been made[119]. - The company has not made any acquisitions or significant market expansions during the reporting period[179]. Risk Management - The group faces various financial risks, including market risk, credit risk, and liquidity risk, which are detailed in the annual financial statements[88]. - The group has not changed its risk management policies since the year-end[89]. - The group has no significant foreign exchange risk due to over half of its retained cash being denominated in USD and held in major banks in Hong Kong[67]. - The company's financial risk management includes significant unobservable inputs, which are critical for fair value estimation[100]. - The group’s financial risk management disclosures are incomplete in the interim financial data and should be read in conjunction with the annual financial statements[88]. Corporate Governance - The audit committee consists of four members, all of whom are non-executive directors, and regularly reviews financial reports and internal control systems[182]. - The company has complied with all provisions of the Corporate Governance Code, except for a deviation regarding the balance of executive and non-executive directors on the board[188]. - The Nomination Committee consists of three members, with a majority being independent non-executive directors, and is chaired by Mr. Lu Yanpo[186]. - Mr. Bai Zhe resigned as executive director and chairman of the board effective June 30, 2022, and the board is actively seeking a suitable replacement[191]. - The company expresses gratitude to external professionals for their services during the period and acknowledges the contributions of the board members and employees[193].
国开国际投资(01062) - 2022 - 中期财报