Financial Performance - For the six months ended June 30, 2022, the group recorded revenue of approximately HKD 10.35 million, compared to HKD 4.90 million for the same period in 2021, representing an increase of 111%[6] - The loss attributable to owners of the company for the six months ended June 30, 2022, was approximately HKD 1.24 million, an increase from a loss of HKD 606,000 in the same period of 2021[6] - For the three months ended June 30, 2022, the loss attributable to owners was approximately HKD 1.36 million, compared to a profit of HKD 118,000 for the three months ended March 31, 2022[6] - Total revenue for the six months ended June 30, 2022, was HKD 10,347,000, a 111% increase from HKD 4,895,000 in the same period of 2021[20] - The company reported a loss of HKD (1,239,000) for the six months ended June 30, 2022, compared to a loss of HKD (606,000) in the same period of 2021[20] - The group reported a basic and diluted loss per share of HKD 0.19 for the six months ended June 30, 2022, compared to a loss of HKD 0.09 for the same period in 2021[9] Assets and Liabilities - As of June 30, 2022, the total assets amounted to HKD 57.10 million, a decrease from HKD 64.00 million as of December 31, 2021[10] - The company's total equity as of June 30, 2022, was HKD 30.17 million, a slight decrease from HKD 31.44 million as of December 31, 2021[10] - The company's total liabilities increased to HKD 8,944,000 as of June 30, 2022, from HKD 7,067,000 as of December 31, 2021[22] - The net cash and cash equivalents as of June 30, 2022, were HKD 16.11 million, down from HKD 27.13 million as of December 31, 2021, indicating a decrease of 40.7%[10] - The total cash and cash equivalents decreased to HKD 16,112,000 as of June 30, 2022, from HKD 23,395,000 as of June 30, 2021[12] - As of June 30, 2022, the group's current assets net value was approximately HKD 24.62 million, down from HKD 27.71 million as of December 31, 2021[45] Operational Highlights - The company has not disclosed any new product developments or market expansion strategies in the interim report[6] - The company has expanded its operations into Singapore, generating HKD 1,002,000 in revenue for the six months ended June 30, 2022[25] - The group established a new wholly-owned subsidiary in Singapore to address travel restrictions, which may incur additional operational costs temporarily affecting financial performance[38] - The asset management business is still in its early development stage, with plans to introduce related products and services to enhance financial performance in the long term[43] - Revenue from corporate finance advisory services increased by approximately 111.4% compared to the same period last year, despite the challenging economic environment[40] Cash Flow and Expenses - The net cash used in operating activities for the six months ended June 30, 2022, was HKD (7,915,000), compared to HKD (1,142,000) for the same period in 2021, indicating a significant increase in cash outflow[12] - Employee costs for the half-year period amounted to approximately HKD 8.42 million, compared to HKD 3.58 million for the same period in 2021[49] - Operating expenses increased significantly due to the establishment costs of a new representative office in Singapore and increased employee costs, including those for the new office[44] Corporate Governance - The company has established a remuneration committee to review and recommend the remuneration policies for directors and senior management[67] - The company has a nomination committee responsible for developing nomination policies and making recommendations regarding the appointment of directors[68] - The company has established an audit committee to oversee financial reporting and internal control systems[69] - The board will continue to monitor and review the corporate governance structure to ensure compliance with corporate governance norms[64] - The company has complied with the corporate governance code except for the combined roles of chairman and CEO due to its relatively small size[63] Future Outlook - Management believes that once the pandemic is under control, the group's performance will gradually improve[37] - The board is confident in the sustainability and growth potential of the group's business despite challenges posed by the pandemic and global uncertainties[42] Shareholder Information - As of June 30, 2022, Mr. Li Junwei holds 138,790,000 shares, representing 21.69% of the company's equity[57] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending June 30, 2022[61] - There are no known conflicts of interest involving directors, supervisors, or management shareholders in competitive businesses as of June 30, 2022[59] - The company has not granted, exercised, or canceled any share options under the share option scheme as of the report date[60] Dividend Policy - The company did not recommend the payment of dividends for the six months ended June 30, 2022, consistent with the previous year[6] - The group did not recommend any dividend payment for the six months ended June 30, 2022, consistent with the previous year[36]
紫荆国际金融(08340) - 2022 - 中期财报