Financial Performance - For the six months ended December 31, 2023, the Group's revenue was approximately HK$144.3 million, representing an increase of approximately 32.5% compared to HK$108.9 million for the same period in 2022[116][119]. - The Group recorded a loss attributable to owners of approximately HK$36.9 million for the six months ended December 31, 2023, representing an increase of approximately 30.0% compared to a loss of approximately HK$28.4 million for the same period last year[137][139]. - Revenue from the football club segment for the six months ended December 31, 2023, was approximately HK$123.1 million, an increase of approximately 31.1% from HK$94.0 million in the corresponding period of 2022[191]. - The new energy automobiles and related business segment generated approximately HK$5.6 million in revenue since commencing operations in October 2023[191]. - The Healthcare Business reported revenue of approximately HK$1.5 million, reflecting a significant increase of approximately 66.9% from HK$0.9 million in the same period last year[191]. - Operating expenses for the six months ended December 31, 2023, were approximately HK$259.4 million, an increase of approximately 32.2% compared to HK$196.2 million in the previous year[195]. - Finance costs incurred during the six months ended December 31, 2023, were approximately HK$22.2 million, representing an increase of approximately 84.6% from HK$12.0 million in the same period of 2022[195]. Share Options and Management Remuneration - As of December 31, 2023, 11,134,016 share options lapsed during the six-month period, with no new options granted, exercised, or cancelled[34]. - As of December 31, 2023, a total of 70,840,090 share options were available for grant under the Share Option Scheme[58]. - The remuneration for directors identified as key management for the six months ended December 31, 2023, was HK$3,595,000, compared to HK$3,436,000 for the same period in 2022, reflecting an increase of approximately 4.6%[4]. - The remuneration of Mr. Zhao Wenqing has been increased to approximately HK$2,984,000 per annum effective from 1 November 2023[64]. - The remuneration of Mr. Huang Dongfeng has been increased to approximately HK$2,074,000 per annum effective from 1 January 2024[64]. - The remuneration of Mr. Yiu Chun Kong has been increased to approximately HK$293,000 per annum effective from 1 January 2024[64]. - The director's fee of Mr. Sue Ka Lok has been increased to approximately HK$270,000 per annum effective from 1 January 2024[64]. - The director's fee of Mr. Pun Chi Ping has been increased to approximately HK$210,000 per annum effective from 1 January 2024[64]. Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code for the six months ended December 31, 2023[63]. - The Board emphasized the importance of good corporate governance to enhance efficiency and safeguard shareholder interests[63]. - The Company’s financial statements for the six months ended December 31, 2023, were reviewed and approved by the Audit Committee and the Board[45]. - The condensed consolidated interim financial statements for the six months ended 31 December 2023 have been reviewed by the Audit Committee and approved by the Board[67]. Investments and Disposals - The Group's equity interest in BCL decreased from approximately 75% to approximately 51.72% after the completion of the disposal[75]. - The consideration received from the disposal was approximately HK$52,354,000, with non-controlling interests recognized at approximately HK$42,047,000[75]. - The excess of consideration received and loan assignment recognized within equity amounted to approximately HK$4,884,000[75]. - The total cash consideration for the disposal of the subsidiary was not disclosed in the report[100]. - The company agreed to sell 19,838,227 shares in BCL, representing approximately 24.34% of BCL's issued share capital, as part of a major transaction subject to shareholder approval[93]. - The gain on the disposal of the subsidiary was included in the other gains/(losses), net, in the condensed consolidated statement of profit or loss for the six months ended December 31, 2023[103]. Player Transfers and Contingent Liabilities - As of December 31, 2023, the maximum amount payable for player transfer fees not yet accrued is approximately HK$53,805,000 (equivalent to about £5,409,000), down from HK$92,580,000 (equivalent to about £9,361,000) as of June 30, 2023[2]. - As of December 31, 2023, the maximum contingent liabilities related to player transfer costs amounted to approximately HK$53,805,000 (equivalent to approximately GBP5,409,000), a decrease from HK$92,580,000 (approximately GBP9,361,000) as of June 30, 2023[50]. Strategic Partnerships and Business Segments - The Group operates in four reportable business segments: professional football club operations, new energy automobiles, property investment, and healthcare-related business[118][120]. - The Group has established strategic cooperation agreements with Weichai New Energy Commercial Vehicle Co., Ltd. and Beijing Foton International Trade Co., Ltd. for comprehensive collaboration in new energy vehicle manufacturing and product development[151]. - The Group aims to promote "ZO MOTORS" focusing on smart new energy commercial vehicles integrating high-tech innovations such as intelligent connectivity and autonomous driving[146][149]. - The Group's management is committed to enhancing the value of the Group through proactive exploration of new business opportunities in the new energy automobile market[146]. - The Group's commercial vehicles will primarily target overseas markets, including Japan, the United States, South America, Southeast Asia, and the Middle East[151]. Financial Ratios and Assets - As of 31 December 2023, the current ratio of the Group was approximately 120.8%, up from approximately 43.8% on 30 June 2023[170]. - The gearing ratio of the Group was approximately 39.3% as of 31 December 2023, compared to approximately 32.8% on 30 June 2023[170]. - The ratio of total liabilities to total assets of the Group was approximately 69.0% as of 31 December 2023, down from approximately 79.0% on 30 June 2023[170]. - The Group had no mortgaged assets as of December 31, 2023[48]. - The Group's investment properties were valued at approximately HK$470.7 million, accounting for approximately 44.5% of the total assets[154][158]. - The Group recorded rental income of approximately HK$14.1 million from investment properties during the six months ended 31 December 2023[178]. Cost Control and Future Development - The management is implementing cost control measures to monitor operational and administrative expenses to enhance financial strength for future business development[200]. - The Group aims to diversify its income streams through the new energy automobiles business, which is expected to improve overall financial performance[161].
大象未来集团(02309) - 2024 - 中期财报