Financial Performance - The Major Investment and Financial Services segment recorded a loss of HKD 15,957,000 in the first half of the fiscal year 2023, compared to a profit of HKD 24,843,000 in the same period of fiscal year 2022[1]. - The total revenue from external customers for the six months ended December 31, 2022, was HKD 108,933,000, an increase from HKD 82,917,000 for the same period in the previous year[14]. - The loss before tax for the period was HKD 54,887,000, a reduction from a loss of HKD 265,980,000 in the previous year, indicating improved financial performance[54]. - The total comprehensive loss for the period was HKD 74,729,000, compared to HKD 329,605,000 in the prior year, reflecting a substantial decrease in losses[60]. - For the six months ended December 31, 2022, the company reported a net loss attributable to shareholders of HKD 43,424,000, compared to a net loss of HKD 275,329,000 for the same period in 2021[108]. Assets and Liabilities - As of December 31, 2022, the Group's non-current assets were valued at HKD 2,254,614,000, down from HKD 2,386,729,000 as of June 30, 2022[3]. - The company's total assets as of December 31, 2022, were HKD 4,365,848,000, down from HKD 4,471,917,000 as of June 30, 2022[65]. - The group’s total liabilities were HKD 472,263,000 as of December 31, 2022[130]. - The Group's borrowings (excluding lease liabilities) as of December 31, 2022, were HKD 226,814,000, down from HKD 289,617,000 as of June 30, 2022[4]. Revenue and Sales - The Group's revenue from external customers in China for the six months ended December 31, 2022, was HKD 107,978,000, compared to HKD 71,914,000 for the same period in the previous year[14]. - The group reported customer contract revenue from commodity trading (iron ore) of HKD 98,260,000 for the six months ended December 31, 2022, compared to HKD 61,835,000 in the same period of 2021, representing a growth of 58.8%[75]. - The total amount from the sale of resource investments was HKD 1,872,906,000[30]. Impairment and Provisions - The Group made an impairment provision of approximately HKD 8,676,000 for receivables during the first half of fiscal year 2023, compared to a reversal of impairment loss of HKD 404,000 in the same period of fiscal year 2022[2]. - The impairment loss on interests in associates was HKD 166,477,000, a notable decrease from HKD 759,867,000 in the prior period, suggesting better asset management[54]. - The company recognized impairment losses of HKD 152,007,000 for Mount Gibson Iron Limited (MGX) during the reporting period, compared to HKD 752,976,000 in the previous period[99]. Employee and Compensation - The total compensation and retirement contributions for the first half of fiscal year 2023 amounted to HKD 12,835,000, a decrease from HKD 22,161,000 in the same period of fiscal year 2022[7]. - The Group had 23 employees as of December 31, 2022, an increase from 15 employees as of June 30, 2022, primarily due to the addition of Prodigy Gold as a subsidiary[7]. Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.10 per share for the year ending June 30, 2022, totaling approximately HKD 130,248,552, paid on February 20, 2023[44]. - The company declared a final dividend of HKD 0.10 per share, totaling HKD 130,249,000, down from HKD 260,425,000 in the previous year[91]. Market and Economic Outlook - The company remains cautiously optimistic about the commodity outlook for 2023, as China is in the early stages of economic recovery after a challenging 2022[47]. - The board believes that capital investment performance will depend on market conditions influenced by commodity prices, interest rate changes, geopolitical situations, and macroeconomic performance[46]. - The company is concerned that the U.S. Federal Reserve may maintain high interest rates longer than the market expects, potentially leading to overall economic weakness[47]. Investments and Strategic Focus - The company plans to continue a prudent investment strategy while seeking quality investment opportunities that can generate substantial long-term returns[48]. - The company is focusing on increasing production capacity at the Koolan Island mine, which is expected to generate strong free cash flow in the coming years[48]. - The group continues to seek new acquisition opportunities in its commodity business following the restart of operations at Koolan Island[84]. Foreign Exchange and Financial Instruments - The company reported a foreign exchange loss of HKD 30,025,000 in the current period, compared to a gain of HKD 2,855,000 in the previous year[15]. - The group’s financial assets are primarily denominated in AUD, with liabilities mainly in AUD, USD, and HKD, indicating exposure to foreign exchange risks[87]. Environmental and Governance - The company has recognized a total environmental provision of approximately HKD 12,449,000 related to environmental guarantees[36]. - The company has fully complied with the corporate governance code as per the Hong Kong Stock Exchange regulations[49].
亚太资源(01104) - 2023 Q2 - 季度业绩