Revenue Performance - Revenue for the six months ended 30 September 2023 was HK$6,213,000, a decrease from HK$9,279,000 for the same period in 2022, representing a decline of approximately 33.4%[3] - Revenue for the six months ended September 30, 2023, was HK$6,221,000, a decrease of 32.4% compared to HK$9,215,000 in the same period of 2022[67] - For the six months ended September 30, 2023, total revenue amounted to HK$9,215,000, a decrease from HK$9,279,000 in the same period of 2022[163] - Total revenue and other income and gains were HK$7,246,000, a decrease of 30.5% from HK$10,458,000 in the previous year[67] - Revenue from external customers for the asset management business segment was HK$5,767,000, while intersegment revenue was HK$45,000, leading to a total segment revenue of HK$6,221,000[145] Loss and Financial Position - The loss attributable to shareholders for the six months ended 30 September 2023 was HK$47,034,000, compared to a loss of HK$38,170,000 for the same period in 2022, reflecting an increase in loss of approximately 23.2%[10] - Operating loss for the period was HK$42,103,000, compared to an operating loss of HK$37,157,000 in 2022, reflecting an increase in losses of 13.1%[67] - Total comprehensive loss for the period was HK$47,389,000, compared to HK$38,165,000 in the previous year, indicating an increase of 24.5%[73] - The Group reported a loss before tax of HK$47,034,000 for the six months ended September 30, 2023, compared to a profit of HK$1,383,000 in the previous period[145] - The loss before tax for the six months ended September 30, 2023, was HK$47,034,000, compared to a loss of HK$38,170,000 for the same period in 2022[199] Assets and Liabilities - Total non-current assets decreased from HK$ 40,323,000 to HK$ 36,162,000, a decline of approximately 10.7%[1] - Total current assets decreased from HK$ 77,159,000 to HK$ 69,601,000, a decline of approximately 9.8%[1] - Total non-current liabilities increased to HK$39,715,000 as of 30 September 2023, up from HK$36,618,000 as of 31 March 2023, representing a growth of 5.99%[117] - Net assets decreased significantly to HK$25,872,000 as of 30 September 2023, down from HK$33,649,000 as of 31 March 2023, a decline of 23.29%[117] - Total equity attributable to shareholders dropped to HK$(9,954,000) as of 30 September 2023, compared to HK$33,649,000 as of 31 March 2023, indicating a substantial decrease[117] Cash Flow - For the six months ended 30 September 2023, the net cash flows used in operating activities amounted to HK$ (47,232,000), compared to HK$ (40,843,000) for the same period in 2022, representing an increase of approximately 10.5% in cash used[99] - The net cash flows generated from investing activities were HK$ 9,264,000 for the six months ended 30 September 2023, compared to a cash outflow of HK$ (4,909,000) in the same period of 2022, indicating a significant turnaround[99] - The net cash flows generated from financing activities totaled HK$ 38,544,000 for the six months ended 30 September 2023, compared to HK$ 27,837,000 in the previous year, reflecting an increase of approximately 38.6%[99] - As of 30 September 2023, cash and cash equivalents at the end of the period were HK$ 54,311,000, up from HK$ 49,037,000 at the end of the same period in 2022, marking an increase of approximately 10.5%[99] Expenses - Employee benefit expenses (excluding directors' remuneration) for the six months ended 30 September 2023 were HK$16,296,000, down from HK$21,775,000 in the same period of 2022, representing a decrease of approximately 25.3%[8] - Employee benefit expenses decreased to HK$22,343,000 from HK$27,590,000, a reduction of 19.1%[67] - Consultancy, legal, and professional fees increased to HK$6,365,000 from HK$5,986,000, reflecting a rise of 6.3%[67] - Information technology and maintenance expenses surged to HK$9,684,000 from HK$2,151,000, marking a significant increase of 350.5%[67] Investments and Collaborations - The company made a minority investment in GFO-X for a total consideration of US$502,740 (approximately HK$4 million), aiming to leverage innovative technology to support blockchain-based finance business[28] - The company plans to collaborate with GFO-X to grow digital assets trading services in Asia, enhancing its market presence[24] - As of September 30, 2023, the carrying amount of the investment in GFO-X was approximately HK$3,566,000, with a fair value loss of HK$355,000 recognized during the six months ended September 30, 2023[35] Accounting and Compliance - The condensed consolidated financial statements have been reviewed by the Audit Committee and external auditor, ensuring compliance with financial reporting standards[108] - The company is preparing for the implementation of new accounting guidelines related to the Mandatory Provident Fund, which may impact future financial reporting[112] - The financial statements were prepared in accordance with Hong Kong Accounting Standards and have not been audited but reviewed by the external auditor[130] - The Group's management has begun implementing changes in accounting policies due to new HKICPA guidance, which is expected to be adopted retrospectively in the annual financial statements for the year ending March 31, 2025[153] Shareholder Information - The weighted average number of ordinary shares in issue during the period was 19,143,179,880, an increase from 18,681,761,880 in the previous period[175] - The Directors do not recommend the payment of an interim dividend for the six months ended 30 September 2023[176] - No interim dividend is recommended for the six months ended September 30, 2023, consistent with the previous year[200]
裕承科金(00279) - 2024 - 中期财报