Financial Performance - The Company reported a loss attributable to owners of approximately HK$21,469,000 for the six months ended 30 June 2023, compared to a loss of approximately HK$16,571,000 in the same period last year, representing an increase in loss of about 29%[9]. - Revenue from continuing operations was approximately HK$79,345,000 for the Period, an increase of approximately HK$19,669,000 or 32.9% compared to HK$59,676,000 in the same period last year[9]. - Gross profit from continuing operations for the Period was approximately HK$53,304,000, compared to approximately HK$40,390,000 in the same period last year, indicating a growth of about 32%[9]. - Loss before tax for the six months was approximately HK$21,624,000, compared to a loss of HK$17,701,000 in the same period last year, indicating an increase in loss of about 22%[13]. - The total comprehensive expense for the period attributable to owners of the company for the six months ended June 30, 2023, was HK$21,189,000, compared to HK$16,765,000 in 2022, reflecting a 26% increase[15]. - The company reported a total comprehensive expense of HK$9,631,000 for the three months ended June 30, 2023, compared to HK$3,204,000 in 2022, a significant increase of 201%[15]. - The loss per share for the six months ended June 30, 2023, was HK$2.85, compared to HK$2.70 in the same period of 2022, indicating a 6% increase in loss per share[16]. - For the three months ended June 30, 2023, the company reported a loss of HK$9,911,000 compared to a loss of HK$3,203,000 in the same period of 2022, representing an increase in loss of 209%[14]. Revenue Segments - Total revenue for the six months included contributions from various segments, with the food and beverage business generating approximately HK$69,793,000, up from HK$47,120,000 in the same period last year, reflecting a growth of about 48%[13]. - Segment revenue from alcoholic beverages distribution increased to HK$1,024,000 in 2023 from HK$608,000 in 2022, a growth of 68%[43]. - Revenue from food and beverage segment rose to HK$69,793,000 in 2023, compared to HK$47,120,000 in 2022, marking a 48% increase[43]. - Revenue from financial services, including commissions from securities dealing, totaled HK$1,036,000 for the six months ended June 30, 2023, down from HK$2,828,000 in 2022, a decline of 63.4%[56]. Expenses and Costs - General and administrative expenses increased to approximately HK$65,408,000 for the six months ended 30 June 2023, compared to HK$56,507,000 in the same period last year, representing an increase of about 15.5%[13]. - The cost of sales for the six months ended June 30, 2023, was HK$26,041,000, compared to HK$19,259,000 in 2022, representing a 35.2% increase[83]. - Central administration costs decreased to HK$5,743,000 in 2023 from HK$7,308,000 in 2022, showing improved cost management[43]. Cash Flow and Assets - The company's cash and cash equivalents decreased to HK$26,029,000 as of June 30, 2023, down from HK$42,325,000 at the end of 2022, a decline of 38%[18]. - Trade receivables decreased to HK$57,672,000 as of June 30, 2023, from HK$80,097,000 at the end of 2022, representing a reduction of 28%[18]. - The company's non-current assets totaled HK$62,653,000 as of June 30, 2023, compared to HK$40,253,000 at the end of 2022, an increase of 56%[18]. - Total assets less current liabilities decreased to HK$129,328,000 as of June 30, 2023, down from HK$142,560,000 as of December 31, 2022, representing a decline of approximately 9.5%[19]. - Net assets decreased to HK$107,967,000 as of June 30, 2023, compared to HK$129,371,000 as of December 31, 2022, indicating a reduction of about 16.5%[19]. Dividends and Share Capital - The Board of Directors does not recommend the payment of any interim dividend for the six months ended 30 June 2023, consistent with the previous year where no dividend was paid[9]. - The issued and fully paid share capital remained at 752,902,000 shares as of June 30, 2023, unchanged from the previous period[178]. Financial Reporting and Compliance - The audit committee of the Board has reviewed the interim results, which are unaudited but presented in compliance with the GEM Listing Rules[10]. - The interim financial statements for the six months ended June 30, 2023, have been prepared in accordance with HKAS 34 and GEM Listing Rules[30]. - The financial statements are unaudited but have been reviewed by the Audit Committee, ensuring compliance with accounting standards[32]. Strategic Moves and Disposals - The company disposed of 15.93% of its equity interest in Wealthy Leader Limited, reducing its continuing interest to 84.07%, with proceeds from the disposal amounting to approximately HK$3,000,000[22]. - The company completed the disposal of Talent Ford Group Limited for a cash consideration of HK$1,300,000 on March 10, 2023[183]. - The company completed the disposal of its 100% equity interest in Surplus Jade International Limited for a cash consideration of HK$450,000, resulting in a gain on disposal of HK$450,000[186]. - The company also disposed of Circle Trend Group Limited for HK$925,000, achieving a gain on disposal of HK$407,000 after accounting for net assets disposed of HK$518,000[189]. Risk Management - The Company emphasizes the importance of understanding the potential risks associated with investing in small and mid-sized companies listed on GEM[2]. - The Group considers that the adoption of new HKFRSs effective from January 1, 2023, will not have a material impact on its financial results[35]. - The Group is assessing the impact of new financial reporting standards on its results and financial position, indicating proactive management[35].
国农金融投资(08120) - 2023 - 中期财报