Financial Performance - The group's revenue for the six months ended September 30, 2022, was approximately HKD 10,955,000, a decrease of about 62% compared to the same period last fiscal year[7]. - The gross profit for the same period was approximately HKD 10,160,000, down from HKD 22,291,000 in the previous fiscal year[7]. - The loss attributable to owners of the company for the six months ended September 30, 2022, was approximately HKD 38,867,000, compared to a profit of HKD 17,614,000 in the same period last year[7]. - The company reported a total comprehensive loss of HKD 45,685,000 for the six months ended September 30, 2022, compared to a loss of HKD 1,906,000 in the same period last year[20]. - The basic and diluted loss per share for the six months ended September 30, 2022, was HKD 1.70, compared to HKD 0.78 in the previous year[22]. - The group reported a net loss of approximately HKD 38,867,000 for the six months ended September 30, 2022, compared to a net loss of HKD 17,614,000 for the same period in 2021[48]. - Financial services revenue for the six months ended September 30, 2022, was HKD 3,933,000, compared to HKD 11,898,000 for the same period in 2021, representing a decline of approximately 66.9%[59]. - Cryptocurrency business revenue was HKD 5,514,000 for the six months ended September 30, 2022, while there was no revenue reported for the same period in 2021[59]. - Total revenue for the six months ended September 30, 2022, was HKD 10,955,000, down from HKD 29,200,000 in the same period of 2021, indicating a decrease of about 62.5%[70]. - The group reported a pre-tax loss of HKD 38,867,000 for the six months ended September 30, 2022, compared to a pre-tax loss of HKD 17,614,000 for the same period in 2021[93]. Assets and Liabilities - Total assets less current liabilities as of September 30, 2022, were HKD 181,764,000, down from HKD 242,469,000 as of March 31, 2022[30]. - Current assets as of September 30, 2022, were HKD 94,017,000, compared to HKD 109,503,000 as of March 31, 2022[27]. - Non-current liabilities as of September 30, 2022, included HKD 149,545,000 in notes payable, down from HKD 167,382,000 as of March 31, 2022[31]. - The net asset value as of September 30, 2022, was HKD 22,982,000, a decrease from HKD 68,667,000 as of March 31, 2022[32]. - The group’s total non-current assets as of September 30, 2022, were HKD 93,742,000, down from HKD 109,228,000 as of March 31, 2022[75]. - Trade receivables, net of expected credit loss provisions, amounted to HKD 4,730,000 as of September 30, 2022[107]. Cash Flow - Cash and cash equivalents at the end of the period were HKD 75,291,000, down from HKD 82,773,000 in the previous year[43]. - The net cash generated from operating activities was HKD 22,244,000, a significant improvement from a cash outflow of HKD 37,116,000 in the prior year[43]. - The group incurred a net cash outflow of HKD 8,911,000 during the period, compared to HKD 38,260,000 in the same period last year[43]. - Cash and bank balances were approximately HKD 75,291,000 as of September 30, 2022, a decrease of about 12% from the balance as of March 31, 2022[139]. Cost Management and Operational Changes - The group aims to strengthen cost control measures to enhance profitability and cash inflow[51]. - The group incurred an impairment loss of HKD 23,688,000 related to cryptocurrency for the six months ended September 30, 2022[77]. - The group’s employee benefits expenses for the six months ended September 30, 2022, totaled HKD 9,208,000, compared to HKD 13,306,000 for the same period in 2021, reflecting a decrease of approximately 30.5%[84]. - Administrative expenses were reduced by 51% from approximately HKD 34,643,000 to about HKD 17,024,000 due to improved internal controls and no additional administrative costs from the cryptocurrency segment[126]. Dividend and Shareholder Matters - The board of directors does not recommend the payment of an interim dividend for the six months ended September 30, 2022[7]. - Fresh Success Investment Limited holds 1,437,914,040 shares, representing 62.95% of the issued share capital[161]. - Raywell Holdings Limited owns 135,430,000 shares, accounting for 5.93% of the issued share capital[161]. - The company has no provisions for preemptive rights in its articles of association or under Cayman Islands law[162]. Corporate Governance - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reporting and internal controls[169]. - The remuneration committee is tasked with formulating policies regarding the remuneration of directors and senior management[170]. - The company has complied with all corporate governance codes as per GEM listing rules, with one exception regarding the attendance of the chairman at the annual general meeting[175]. - The board comprises four executive directors and three independent non-executive directors[177]. Future Outlook and Strategic Plans - The group plans to implement strict monitoring of receivables to improve cash flow and financial condition[51]. - The group will continue to seek financial support from major shareholders to meet its financial obligations[51]. - The group is in discussions with creditors to defer repayment of its debts[51]. - The board believes that with the planned measures and support, the group will have sufficient working capital to meet its financial responsibilities[51]. - The company’s management anticipates a challenging outlook due to the ongoing impacts of the US-China trade dispute and the COVID-19 pandemic[138]. - The company has suspended cryptocurrency mining operations in response to regulatory guidance from the Chinese government and has relocated operations to Kazakhstan since July 2021[134].
帝国金融集团(08029) - 2023 - 中期财报