Financial Performance - The company did not generate any revenue during the period from January 20, 2022, to December 31, 2022[27]. - Bank interest income amounted to 6,944 thousand HKD during the same period[28]. - The loss before income tax expense was 61,715 thousand HKD[34]. - The company recorded a total loss of approximately HKD 153.6 million for the reporting period, primarily due to listing expenses and changes in the fair value of warrant liabilities[150]. - The company did not engage in any revenue-generating transactions during the reporting period, resulting in no employees, customers, or suppliers[187]. Share Issuance and Financial Instruments - The company has issued A class shares classified as financial liabilities under International Accounting Standard 32[20]. - The company issued 100,100,000 Class A shares and 50,050,000 warrants on June 9, 2022, at a total price of HKD 10 per share[59]. - The fair value of the conversion rights of B class shares and founder warrants was calculated at the listing date[8]. - The fair value of the listed warrants as of December 31, 2022, was approximately HKD 30,030,000, resulting in a recognized fair value gain of HKD 50,776,000[56]. - The estimated fair value of each warrant was HKD 1.6145, based on a Monte Carlo simulation model[65]. - The total amount raised from the issuance of redeemable Class A shares was HKD 1,001,000, after deducting transaction costs of HKD 60,224[60]. Assets and Liabilities - As of December 31, 2022, the company's total non-current assets amounted to approximately HKD 1,001 million, all attributed to funds received from the sale held in a trust account[161]. - The total current assets as of December 31, 2022, were approximately HKD 8.9 million, including cash and cash equivalents of about HKD 8.0 million[161]. - As of December 31, 2022, the company had cash and cash equivalents that were approximately equal to their carrying value due to their short-term nature[78]. - The company has not recognized any liabilities for potential economic outflows due to past events[3]. - The company did not have any pledged assets as of December 31, 2022[175]. Risks and Financial Management - The company faced credit risk, liquidity risk, interest rate risk, and market risk during its normal business operations[83]. - The company did not recognize any impairment provisions for expected credit losses on amounts due from sponsors during the reporting period[85]. - The company did not have any major financial assets or liabilities denominated in currencies other than its functional currency, thus avoiding significant foreign exchange risks[171]. - The company did not face any significant foreign exchange risks during the reporting period[191]. Acquisition Plans and Strategy - The expected merger date for the special purpose acquisition company is between December 2022 and December 2023, with an exercise price of HKD 11.50 per warrant[77]. - The company plans to identify potential acquisition targets in sectors such as smart automotive technology and cross-border e-commerce capabilities[151]. - The company has not selected any specific acquisition targets as of the report date and has not entered into any binding agreements for potential transactions[152]. - The company expects to attract opportunities through the reputation of its sponsors and management team, with thorough due diligence on potential acquisition targets[156]. - The company will seek independent third-party investors for its acquisition transactions, ensuring compliance with listing rules regarding investor independence[158]. - The company believes it has sufficient financial resources to meet its capital needs prior to the completion of any acquisition transaction[164]. - As of December 31, 2022, the company had no significant investments or capital asset plans aside from identifying potential targets for special purpose acquisition company transactions[170]. Corporate Governance and Compliance - There were no directors who received retirement benefits or termination benefits during the reporting period[39]. - The company has not established any financial assistance or guarantees that require disclosure under Listing Rule 13.22 during the reporting period[181]. - The company has not entered into any agreements that impose specific performance obligations on any controlling shareholders during the relevant period[180]. - The company has actively consulted insurance experts to determine appropriate terms and reasonable premiums for directors' and officers' liability insurance during the reporting period[192]. - The company did not violate any terms of its loan agreements that could significantly impact its operations as of December 31, 2022[178].
VISION DEAL-Z(07827) - 2022 - 年度财报