Share Structure - As of the reporting date, the company has issued a total of 125,125,000 shares, including 100,100,000 Class A shares and 25,025,000 Class B shares[1]. - Major shareholders include China CITIC Group with 17.73% ownership, and Luo Xurui with 17.08% ownership of Class A shares[41]. - The company has issued 37,409,736 Class B shares as of the end of the reporting period, an increase from 25,025,000 shares at the beginning of the period[192]. - The company has issued a total of 35,600,000 warrants at a price of HKD 1.00 each during the private placement[151]. Financial Performance - The company's total comprehensive loss increased from approximately HKD 2.3 million to about HKD 27.1 million during the reporting period[46]. - The net loss for the period was HKD 27,098,737, which translates to a basic and diluted loss per share of HKD 1.08[123]. - The company incurred a total operating loss of HKD 26,558,197, compared to an operating loss of HKD 2,252,015 for the same period last year[123]. - The company reported interest income of HKD 21,473,507 for the six months ended June 30, 2023[123]. - The total equity as of June 30, 2023, stands at HKD (97,588,670)[165]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 1,028,823,736, compared to HKD 1,014,221,900 as of December 31, 2022[99]. - Total liabilities were reported at HKD 1,126,412,406, resulting in a negative net asset value of HKD (97,588,670)[99]. - The company had cash and cash equivalents of HKD 3,397,475 as of June 30, 2023, down from HKD 10,115,072 at the end of the previous year[99]. - The company experienced a decrease in cash and cash equivalents by HKD 6,717,597 during the reporting period[170]. - The total liabilities include HKD 102,874,772 from listed warrants and HKD 21,578,538 from deferred underwriting commissions[156]. Operating Activities - The company did not incur any capital expenditures or undertake any significant investments or acquisitions during the reporting period[22]. - There were no purchases, sales, or redemptions of any listed securities by the company during the reporting period[32]. - The company has no major plans for significant investments or capital assets beyond what has been disclosed in the report[23]. - The company has no significant future plans involving major investments or capital assets as of June 30, 2023[53]. - The company has not conducted any business since its establishment and does not expect to generate any operating income until the completion of the merger with a special purpose acquisition company[175]. Governance and Compliance - The company has adopted a code of conduct for trading its securities by directors and senior management to maintain high levels of corporate governance[30]. - The audit committee consists of three independent non-executive directors, and the interim results have not been audited by independent auditors[56]. - The interim financial report has not been audited but has been reviewed by KPMG according to the relevant standards[181]. - The company has not applied any new accounting standards that have not yet come into effect during the current reporting period[199]. Future Plans and Strategy - The company is focused on identifying high-growth companies in sectors such as innovative technology, consumer and new retail, high-end manufacturing, healthcare, and climate action in the Greater China region[13]. - The company is prepared for discussions and due diligence on potential acquisition targets, having secured HKD 20 million in loan financing[48]. - The company has a cash flow forecast indicating sufficient operating funds to meet obligations and continue operations for the next twelve months[179]. - As of June 30, 2023, the company has not identified any specific merger targets, but continues to seek potential acquisition opportunities[195]. - The company’s main business objective is to acquire suitable targets to complete the merger with a special purpose acquisition company, with no revenue generated during the reporting period[184]. Other Financial Information - The company recognized a fair value change of HKD 374,990 related to deferred underwriting commissions[123]. - The fair value change of deferred underwriting commissions recognized during the reporting period was approximately HKD 0.5 million, reflecting changes in the fair value of warrants classified as derivative liabilities[17]. - The company has a restricted cash balance of HKD 1,001,000,000 as of June 30, 2023[99]. - The company has no confirmed taxable profits and therefore has not recognized any income tax during the reporting period[188]. - The board has not proposed any interim dividend for the reporting period, as there is no intention to pay cash dividends before the completion of the SPAC merger[55].
INTERRA ACQ-Z(07801) - 2023 - 中期财报