Financial Performance - The company recorded revenue of approximately HKD 58,439,000 for the six months ended June 30, 2022, compared to HKD 5,157,000 for the same period in 2021, representing an increase of 1,030%[3] - The company reported a loss of approximately HKD 13,481,000 for the six months ended June 30, 2022, compared to a loss of HKD 9,733,000 for the same period in 2021, indicating a deterioration in performance[4] - Basic loss per share for the six months ended June 30, 2022, was HKD 0.17, compared to HKD 0.13 for the same period in 2021[9] - The company reported a net loss of HKD 19,551,000 for the total comprehensive loss for the six months ended June 30, 2022, compared to HKD 8,330,000 for the same period in 2021[9] - The group reported a loss of 13,471 thousand HKD for the six months ended June 30, 2022, compared to a loss of 9,728 thousand HKD in the same period of 2021[38] Assets and Liabilities - Total assets decreased to HKD 274,599,000 as of June 30, 2022, from HKD 295,567,000 as of December 31, 2021, reflecting a decline of approximately 7.1%[11] - Current liabilities decreased to HKD 102,963,000 as of June 30, 2022, from HKD 104,380,000 as of December 31, 2021, showing a slight reduction[11] - The company’s non-current assets decreased to HKD 37,555,000 as of June 30, 2022, from HKD 39,683,000 as of December 31, 2021, reflecting a decline of approximately 5.4%[11] - As of June 30, 2022, the net current assets amounted to HKD 134,081,000, a decrease of 11.5% from HKD 151,504,000 as of December 31, 2021[12] - Total assets less current liabilities were HKD 171,636,000, down 10.2% from HKD 191,187,000 in the previous year[12] - The company's equity attributable to owners decreased to HKD 158,872,000 from HKD 178,404,000, reflecting a decline of 11%[12] Cash Flow and Operating Activities - The net cash used in operating activities for the six months ended June 30, 2022, was HKD (23,213,000), an improvement from HKD (44,502,000) in the same period last year[18] - The company reported a total cash and cash equivalents of HKD 30,743,000 at the end of the period, down from HKD 48,867,000 a year earlier[18] Revenue Sources - Commission income from securities and futures brokerage services was HKD 43,278,000 for the three months ended June 30, 2022, compared to HKD 1,951,000 in the same period last year[23] - The company sold vehicles generating revenue of approximately HKD 58.25 million and less than HKD 0.01 million from agency and service fees for parts procurement during the reporting period[66] - As of June 30, 2022, the automotive segment accounted for approximately 99.7% of the group's revenue, despite challenges from COVID-19 and trade tensions[70] Investments and Development - The group has invested approximately 33,324,000 HKD in a limited partnership for drug development projects in China[42] - The company has invested in the development of new drugs for lymphoma, sarcoma, colorectal cancer, and drug-resistant tuberculosis, with two drugs entering Phase I clinical trials as of June 30, 2022[67] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the six months ending June 30, 2022, and confirmed compliance with applicable accounting standards[99] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[97] - The company has established an audit committee to oversee financial reporting and internal control processes[98] - The chairman and CEO roles are held by the same individual, which deviates from the GEM listing rules regarding the separation of these roles[96] - The company has complied with all principles and provisions of the corporate governance code, except for specific deviations noted[95] Dividends and Shareholding - The board of directors did not recommend the payment of any dividend for the six months ended June 30, 2022[5] - The company did not recommend any dividend payment for the six months ended June 30, 2022, consistent with the previous year[65] - The company has not identified any individuals with significant shareholding (5% or more) in its shares or related shares[89] Other Financial Metrics - The group incurred a segment loss of (576) thousand HKD in the automotive segment for the six months ended June 30, 2022[32] - Interest income for the six months ended June 30, 2022, was 7 thousand HKD, down from 8 thousand HKD in the same period of 2021[32] - Other income and losses netted to (29) thousand HKD for the six months ended June 30, 2022, compared to 2,392 thousand HKD in the same period of 2021[36] - The total employee cost was approximately HKD 6.99 million as of June 30, 2022, compared to HKD 7.11 million as of June 30, 2021[77] Market Outlook - The group remains optimistic about the prospects of the Chinese and Hong Kong stock markets and will continue to seek opportunities to expand revenue sources[72]
华亿金控(08123) - 2022 - 中期财报