Financial Performance - For the six months ended September 30, 2023, the company reported total revenue of HKD 1,963,000, a decrease of 12.3% compared to HKD 2,239,000 for the same period in 2022[6]. - The company's net loss for the six months was HKD 4,348,000, compared to a loss of HKD 4,095,000 in the same period last year, representing an increase in loss of 6.2%[6]. - The company reported a basic and diluted loss per share of HKD 0.13 for the six months ended September 30, 2023, compared to HKD 0.11 for the same period in 2022[6]. - The group reported a total loss before tax of HKD (4,154,000) for the six months ended September 30, 2023, compared to a loss of HKD (1,414,000) in the previous period[20]. - The total loss for the period was approximately HKD 4,348,000, representing a 6% increase from HKD 4,095,000 in the same period of 2022, primarily due to a decrease in interest income[65]. Assets and Liabilities - The company's total assets decreased to HKD 109,756,000 from HKD 124,544,000 as of March 31, 2023, reflecting a decline of 11.9%[7]. - The company's equity attributable to owners decreased to HKD 45,719,000 from HKD 50,624,000, a decline of 9.4%[7]. - Total liabilities decreased from HKD 29,003,000 as of March 31, 2023, to HKD 18,613,000 as of September 30, 2023, a reduction of approximately 36%[23]. - The company's total assets decreased from HKD 146,873,000 as of March 31, 2023, to HKD 121,870,000 as of September 30, 2023, representing a decline of approximately 17%[23]. Cash Flow - For the six months ended September 30, 2023, the net cash used in operating activities was HKD (3,882,000), a decrease of 36.5% compared to HKD (6,083,000) for the same period in 2022[10]. - The net cash generated from investing activities was HKD 11,409,000, significantly up from HKD 3,617,000 in the previous year, indicating a 215.5% increase[10]. - The net cash used in financing activities was HKD (14,252,000), compared to HKD (5,157,000) in the prior year, reflecting a 176.5% increase in cash outflow[10]. - The total cash and cash equivalents at the end of the period were HKD 79,998,000, down from HKD 106,318,000, representing a decrease of 24.8% year-over-year[10]. - As of September 30, 2023, the group's bank balances and cash amounted to approximately HKD 79,998,000, down from HKD 90,885,000 as of March 31, 2023[66]. Operational Expenses - Employee costs increased to HKD 3,321,000 for the six months, up 14% from HKD 2,914,000 in the previous year[6]. - Other operating expenses decreased to HKD 2,451,000 from HKD 2,639,000, a reduction of 7.1%[6]. - Interest income for the period was HKD 1,129,000, down from HKD 2,062,000 in the previous year, indicating a decrease of 45.2%[10]. - The company recorded a fair value loss on financial assets of HKD 88,000 for the six months, compared to a loss of HKD 71,000 in the previous year[6]. Future Outlook and Strategy - The company plans to focus on market expansion and new product development to improve future performance[6]. - Future outlook indicates a focus on market expansion and new product development, aiming for a revenue growth of 20% in the next fiscal year[9]. - The company aims to reduce operational costs by 10% over the next year through efficiency improvements[9]. - A new product line is expected to launch in Q3 2024, projected to contribute an additional 15% to overall revenue[9]. - The company has set a performance guidance of achieving a break-even point by the end of the next fiscal year[9]. Investments and Acquisitions - A strategic acquisition is planned, targeting a company with a valuation of approximately 906,074 million HKD to enhance market presence[9]. - The company is investing in new technologies, with a budget allocation of 45,719 million HKD for R&D initiatives[9]. - The group has engaged in various investments, including eSports services and smart agriculture solutions, indicating a focus on market expansion and diversification[11]. Share Options and Capital - The company issued a total of 41,000,000 share options on August 14, 2023, with an exercise price of HKD 0.0242, which will vest from August 14, 2023, to August 13, 2024[46]. - The total number of unexercised share options as of September 30, 2023, was 72,736,217, with a weighted average exercise price of HKD 0.0625[48]. - The company recognized a total expense of HKD 82,000 related to the share options granted during the six months ended September 30, 2023[49]. - The company’s issued and paid-up capital remained at HKD 906,074,000 as of both March 31, 2023, and September 30, 2023, with 2,812,881,803 shares issued[41]. Compliance and Governance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[12]. - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO[10]. - The audit committee consists of three independent non-executive directors who reviewed the interim report[10].
天时资源(08028) - 2024 - 中期财报