Financial Performance - The company has not generated any revenue during the reporting period and prior periods[19]. - For the six months ended June 30, 2023, the company reported interest income of HKD 23,327,858[78]. - The company incurred a total operating loss of HKD 76,895,346 for the same period[78]. - The adjusted profit/loss for the period was HKD 20,252,510, compared to a loss of HKD 1,990,310 in the previous period[89]. - The basic and diluted loss per share was HKD 3.24, compared to HKD 1.54 in the prior period[78]. - The company reported a total comprehensive loss of HKD 81,152,854 for the period[78]. - The company recorded a total loss and comprehensive income of HKD 81,152,854 for the reporting period[157]. Capital Structure - The company issued 100,050,000 special purpose acquisition company shares and 50,025,000 warrants at a total price of HKD 1,000,500,000[27]. - The average number of founder shares outstanding as of June 30, 2023, was 25,012,500[22]. - The company issued 25,012,499 founder shares at a total subscription price of HKD 2,501[57]. - The company has issued founder warrants at a price of HKD 0.0001 per share, with a total issuance of 31,400,000 warrants[31]. - The fair value of SPAC warrants increased to HKD 147,078,503 as of June 30, 2023[51]. - The total amount raised from the special purpose acquisition company (SPAC) offering on August 15, 2022, was HKD 1,000,500,000, which is held in a custodial account[134]. - The total proceeds from the special purpose acquisition company (SPAC) offering amounted to HKD 1,000,500,000, held in cash or cash equivalents[193]. - The net proceeds from the sale of founder warrants, after deducting approximately HKD 15,100,000 in underwriting expenses and about HKD 7,500,000 in listing expenses, are estimated to be around HKD 8,800,000[193]. Governance and Compliance - The company has established an audit committee in accordance with corporate governance codes[1]. - The company has adopted the principles and code provisions of the Corporate Governance Code since its listing date[81]. - The audit committee, consisting of three independent non-executive directors, oversees the company's financial reporting and risk management[183]. - The company has complied with all applicable code provisions of the corporate governance code during the reporting period[171]. - The company has not disclosed any changes in the information of directors or senior management as of the report date[2]. Operational Activities - The company has not engaged in any business activities since its establishment and does not expect to generate operational income until the completion of a SPAC transaction[130]. - The company has not engaged in any business activities related to selecting, organizing, or completing special purpose acquisition transactions prior to the completion of such transactions[154]. - The company continues to focus on identifying attractive SPAC acquisition targets[126]. - The company aims to identify acquisition targets with strong and sustainable growth prospects in the coming months[88]. - The company aims to focus on financial services and technology companies with competitive advantages in sustainability and corporate governance in the Greater China region[153]. - The company has not selected any specific SPAC acquisition targets as of June 30, 2023[130]. Financial Position - As of June 30, 2023, the company's net liabilities amounted to HKD 170,395,572, a decrease from HKD 186,390,574 as of December 31, 2022[131]. - As of June 30, 2023, the company's assets were unencumbered, with no secured borrowings[135]. - As of June 30, 2023, the company had no borrowings, resulting in a net capital debt ratio of 0%[189]. - As of June 30, 2023, the company held cash and cash equivalents of approximately HKD 26,520,898, a significant increase from HKD 5,047,637 as of December 31, 2022[163]. Costs and Expenses - The company incurred legal and professional fees of HKD 1,194,800 for the six months ended June 30, 2023[20]. - The company reported a total expenditure of HKD 3,075,348 for the six months ended June 30, 2023[20]. - The total amount of deferred underwriting commissions recognized in profit or loss for the six months ended June 30, 2023, is HKD 51,751,690[68]. - The company anticipates incurring significant costs in evaluating potential acquisition targets and negotiating special purpose acquisition transactions[155]. Shareholder Information - Dr. Chen has a 100% ownership of 25,012,500 founder shares, representing 20% of the total issued share capital[199]. - Ms. Zeng holds 8,004,000 founder shares, accounting for 32% of the relevant class of shares and 6.40% of the total issued share capital[199]. - Dr. Huang owns 4,252,125 founder shares, which is 17% of the relevant class and 3.40% of the total issued share capital[199]. - The shareholder agreement dated June 21, 2022, grants Pride Vision the right to exercise voting rights for 8,004,000 founder shares held[200]. Miscellaneous - No dividends were declared or paid during the reporting period[36]. - The company has no significant contingent liabilities as of June 30, 2023[79]. - The company has no significant post-reporting date events up to the date of this report[80]. - The company has no major investments or capital asset plans as of June 30, 2023[136]. - The company has no full-time employees as of June 30, 2023, and has not incurred any employee costs during the reporting period[139]. - The board has resolved not to declare any interim dividends for the reporting period[140]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[164]. - The company holds 31,400,000 founder warrants, allowing the holder to receive up to 15,700,000 shares upon cashless exercise[3]. - Antong Road Limited holds 23,517,500 SPAC warrants, which entitle the holder to receive up to 11,758,750 shares upon cashless exercise[8]. - The company is subject to foreign currency risks that may affect the attractiveness of acquisition targets and the financial performance of the successor company[190].
汇德收购-Z(07841) - 2023 - 中期财报