Financial Performance - For the six months ended June 30, 2023, the group recorded revenue of approximately HKD 6.22 million, a decrease of 39.5% compared to HKD 10.35 million for the same period in 2022[7] - The loss attributable to owners of the company for the six months ended June 30, 2023, was approximately HKD 3.65 million, compared to a loss of HKD 1.24 million for the same period in 2022, representing an increase of 194.4%[7] - For the three months ended June 30, 2023, the loss attributable to owners was approximately HKD 1.22 million, contributing to the overall loss for the six months[7] - The company’s total comprehensive expenses for the six months ended June 30, 2023, were approximately HKD 3.81 million, compared to HKD 1.27 million for the same period in 2022[10] - The basic and diluted loss per share for the six months ended June 30, 2023, was HKD 5.6 cents, compared to HKD 2.0 cents for the same period in 2022[10] - The company reported a total loss of HKD (3,647,000) for the six months ended June 30, 2023, compared to a loss of HKD (1,239,000) in the same period of 2022[21] Equity and Cash Position - As of June 30, 2023, the total equity amounted to HKD 22.77 million, a decrease from HKD 24.06 million as of December 31, 2022[11] - The net cash and cash equivalents as of June 30, 2023, were HKD 8.65 million, down from HKD 13.51 million at the end of 2022[11] - Cash and cash equivalents decreased to HKD 8,645,000 at the end of June 30, 2023, from HKD 16,112,000 at the end of June 30, 2022[13] - The company's net current assets as of June 30, 2023, were approximately HKD 18.74 million, slightly down from approximately HKD 19.89 million as of December 31, 2022[42] - The company has maintained a healthy cash position and sufficient operating funds as of June 30, 2023[42] Revenue Breakdown - The segment revenue from corporate finance advisory services decreased to HKD 5,892,000, a decline of 43.5% compared to HKD 10,347,000 in the prior year[21] - Revenue from external customers in Hong Kong was HKD 4,748,000, down 49.3% from HKD 9,345,000 in the same period of 2022[25] - The company incurred a segment loss of HKD (1,050,000) from corporate finance advisory services for the six months ended June 30, 2023, compared to a profit of HKD 5,934,000 in the same period of 2022[21] Shareholder Information - The company did not recommend the payment of any dividend for the six months ended June 30, 2023, consistent with the previous year[7] - The basic loss per share for the six months ended June 30, 2023, was HKD (0.054) based on a weighted average of 67,235,165 shares[28] - The company issued ordinary shares amounting to HKD 2.56 million during the reporting period, increasing the share capital to HKD 7.68 million[12] - As of June 30, 2023, Mr. Li Junwei held 13,879,000 shares, representing an 18.07% stake in the company[53] Operational Insights - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (5,938,000), an improvement from HKD (7,915,000) in the same period of 2022[13] - The company completed a placement of 12,800,000 new shares at a price of HKD 0.20 per share, raising approximately HKD 2.53 million after expenses, which remains unused as of June 30, 2023[45] - The company has no borrowings as of June 30, 2023, maintaining a debt ratio that is not applicable[42] Governance and Compliance - The company has established a remuneration committee to review and recommend the remuneration policies for directors and senior management[64] - The company has complied with the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual due to the company's relatively small size[60] - The audit committee reviewed the financial statements for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards and full disclosure[68] - The board of directors consists of executive directors Li Junwei and Ji Yi, non-executive director Dr. Liang Jianchang, and independent non-executive directors Cai Dehui, Li Peizhen, and Liu Meixue[69] - The company is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15[68] Future Outlook - The company plans to adopt a conservative and prudent business strategy to support daily operations while exploring other potential opportunities for diversification and new revenue sources[40] - The company expects the Hong Kong IPO market to recover in the second half of 2023, supported by favorable regulations and improved economic conditions in China[40] Other Information - There were no significant contingent liabilities as of June 30, 2023[49] - The group did not hold any significant investments as of June 30, 2023[50] - There were no major acquisitions or disposals during the six months ending June 30, 2023, and no specific future plans for significant investments or capital assets[51] - The company had no major events occurring after June 30, 2023, up to the report date[52] - As of June 30, 2023, the group had 15 employees, with total employee costs amounting to approximately HKD 5.8 million, a decrease from HKD 8.42 million in the previous year[48] - The company did not buy, sell, or redeem any of its listed securities during the six months ending June 30, 2023[58]
紫荆国际金融(08340) - 2023 - 中期财报