Financial Performance - The company reported a profit or loss of HK$163,585 for the reporting period, with financial liabilities at fair value through profit or loss recorded at (HK$3,892)[27]. - Wealthink Al-Innovation Capital Limited invested HK$34.9846 billion during the period, with HK$32.9932 billion in exit investments primarily from listed securities, funds, private equity, and debt investments[89]. - The company reported a recurring fair value measurement total of HK$6,654,331, with liabilities at fair value through profit or loss recorded at (HK$3,892)[27]. Investment Strategy - The investment strategy includes private equity, portfolio management, and trading, focusing on long-term core holdings and medium-term returns[88]. - Wealthink Al has adjusted its investment strategy to increase fixed-income investments to create more stable returns amid economic challenges[111]. - The company emphasizes a three-pillar investment strategy: core-holding-centered private equity, portfolio management, and trading[116]. Corporate Identity and Name Change - The company has undergone a name change from "Wealthking Investments Limited" to "Wealthink AI-Innovation Capital Limited" effective August 28, 2023, to reflect its focus on innovation-driven investment strategies[35]. - The stock short names for trading have changed to "WEALTHINK AI" in English and "華科智能投資" in Chinese, effective October 9, 2023, while the stock code remains unchanged as "1140"[36]. Asset Management and Holdings - The total recurring fair value measurements as of September 30, 2023, amounted to HK$6,371,470, with listed equity securities contributing HK$534,476 and unlisted equity investments contributing HK$3,113,682[11]. - The total assets measured at fair value include unlisted investment funds and limited partnerships amounting to HK$3,000,530[27]. - As of September 30, 2023, the four main sectors of the company's portfolio were Fixed-Income, Smart Education, Technology, Media and Telecom (TMT), and Fintech, representing 75.60% of total investment holdings[117]. Risk Management - The maximum foreign exchange risk exposure as of September 30, 2023, was RMB 3.01906 billion, equivalent to HK$3.24020 billion, indicating an increase from RMB 2.03941 billion (HK$2.32901 billion) as of March 31, 2023[43]. - The Group's portfolio of debt instruments recorded provisions for expected credit losses under HKFRS 9, indicating a proactive approach to risk management[192]. - Wealthink Al maintains regular communication with bond issuers and loan borrowers to assess repayment abilities for expected credit loss provisions[192]. Investment Portfolio - As of September 30, 2023, the investment portfolio's major sectors included fixed income, smart education, technology, media, and telecommunications, accounting for 75.60% of total investments[90]. - The company's holdings in private equity amounted to HK$3,727.87 million as of September 30, 2023, with long-term core holdings including iCarbonX, CSOP, and OPIM[124]. - The Group's holdings in listed securities in the portfolio management category amounted to HK$11.58 million as of 30 September 2023[187]. Major Investments - The Group holds a 7.73% equity interest in iCarbonX, with a carrying value of HK$911.34 million as of September 30, 2023[99]. - CSOP, a major investment, has a market share of over 96.6% in size and 99.3% in average daily turnover among all Hong Kong Leveraged and Inverse Products[106]. - Wealthink AI's investment in iCarbonX is valued at HK$911.34 million, representing a 7.73% equity ownership, highlighting its focus on life sciences and AI[156]. Future Outlook - The anticipated growth of OPIM is supported by China's increasing scale of private funds in overseas markets, expected to maintain steady growth in fund numbers and asset scale[172]. - Jiedaibao is building a complete Fintech ecosystem with licenses for online payment, commercial banking, and internet microloans, which is expected to generate considerable medium-term returns[180]. - The investment in Jiedaibao is expected to yield significant medium-term returns due to its strong market share in Mainland China[182].
华科智能投资(01140) - 2024 - 中期财报