Financial Performance - For the six months ended September 30, 2023, the net cash used in operating activities was HK$25,755,000, compared to HK$14,745,000 for the same period in 2022, indicating an increase in cash outflow [40]. - The total comprehensive income for the period was HK$31,099,000, a significant increase from the previous period's loss of HK$8,215,000 [12]. - The company recorded a loss for the period of HK$6,737,000, which is a decrease from the loss of HK$7,050,000 in the previous period, indicating a slight improvement in performance [3]. - The company reported a loss before income tax of HK$6,863,000 for the six months ended September 30, 2023 [67]. - The Group recorded a loss of approximately HK$8.0 million for the Period, a slight increase from the loss of approximately HK$7.1 million in the Preceding Period, mainly due to a decrease in gross profit margin and an increase in administrative expenses [130]. - The Group's total comprehensive expenses for the Period were approximately HK$5.5 million, compared to approximately HK$11.8 million in the Preceding Period [144]. Cash and Liquidity - Cash and cash equivalents at the end of the reporting period were HK$25,290,000, up from HK$624,000 at the end of the previous period, reflecting a strong liquidity position [40]. - The Group's current ratio improved to approximately 2.8 as of September 30, 2023, up from approximately 2.5 as of 31 March 2023, indicating a stronger liquidity position [161]. - The Group raised approximately HK$29.8 million from placing activities, with net proceeds allocated for debt repayment, business expansion, and general working capital [167]. - As of September 30, 2023, the Group utilized approximately HK$12.4 million of the net proceeds, leaving a remaining balance of approximately HK$17.4 million [167]. Revenue and Sales - The Group's revenue from external customers for the six months ended 30 September 2023 was HK$35,369,000, a decrease from HK$39,000,000 in the same period of 2022, representing a decline of approximately 9.1% [55]. - Revenue for the Period was approximately HK$43.1 million, representing a slight increase of about 2.7% compared to approximately HK$42.0 million for the same period in 2022, driven by advertising services and sales of new energy products [129]. - The advertising services segment generated revenue of approximately HK$35.4 million, a decrease of about 15.7% from HK$42.0 million in the previous period due to weak market conditions [110]. - Revenue from sales of new energy batteries for the six months ended 30 September 2023 was HK$22,578,000, while advertising service income was HK$18,244,000 [57]. - The new energy battery segment secured contracts for high-power batteries to golf carts in the PRC, recording revenue of approximately HK$2.2 million during the period [113]. - Sales of new energy off-road vehicles generated revenue of approximately HK$2.3 million during the review period [115]. - Zixing Health recorded revenue of approximately HK$3.2 million, driven by increasing demand for health products in the market [120]. Financing Activities - The company reported a net cash generated from financing activities of HK$32,429,000, compared to HK$11,537,000 in the prior year, indicating improved financing capabilities [40]. - The issuance of share capital during the period generated proceeds of HK$29,874,000, contributing positively to the company's financial position [40]. - Outstanding borrowings decreased to approximately HK$20.2 million as of 30 September 2023, down from approximately HK$26.2 million as of 31 March 2023, reflecting a reduction of approximately HK$6.0 million [162]. - The Group's finance costs decreased by approximately 44.3% to approximately HK$1.0 million, down from approximately HK$1.8 million in the Preceding Period, due to a reduction in borrowings from approximately HK$19.3 million to approximately HK$10.7 million [139]. Strategic Focus and Growth Areas - The company is focused on expanding its sales in new energy batteries and off-road vehicles, which are key growth areas for future revenue [42]. - The Group's corporate mission for Weishi New Energy is to become the world's leading supplier of graphene battery fast charging solutions, aligning with its strategic plan to focus on new energy battery business [113]. - The global demand for new energy batteries is accelerating, with China accounting for over 50% of the global electric vehicle market, indicating strong growth opportunities for the Group [174][176]. - The Group plans to actively seek opportunities to integrate its new energy battery and off-road vehicle businesses to reduce costs and enhance competitiveness [152]. Corporate Governance and Compliance - The Group's directors confirm that the information contained in the report is accurate and complete in all material respects, ensuring transparency and accountability [123]. - The company has complied with all code provisions as set out in the Corporate Governance Code for the six months ended September 30, 2023 [198]. Shareholder Information - Basic loss per share attributable to owners of the Company for the six months ended September 30, 2023 was HK$8,215,000, compared to HK$6,737,000 for the same period in 2022 [95]. - The weighted average number of ordinary shares in issue during the six months ended September 30, 2023 was 1,561,864,000, compared to 1,018,971,000 for the same period in 2022 [95]. - Mr. Mou Zhongwei holds 153,500,000 shares, representing 8.36% of the total shares issued as of September 30, 2023 [192]. - The total number of issued shares as of September 30, 2023, is 1,834,136,305 [192]. - The company did not recommend an interim dividend for the six months ended September 30, 2023 [82].
嘉鼎国际集团(08153) - 2024 - 中期财报