Financial Position - As of June 30, 2023, the company's total assets were approximately HKD 1,028.8 million, an increase from HKD 1,014.2 million as of December 31, 2022[28]. - Cash and cash equivalents decreased to approximately HKD 3.4 million from HKD 10.1 million as of December 31, 2022, primarily due to net cash used in operating activities of approximately HKD 2.6 million and listing expenses of approximately HKD 4.1 million[28]. - Interest receivables increased significantly to approximately HKD 24.1 million from HKD 2.6 million as of December 31, 2022, mainly due to an increase in interest receivables from trust accounts[28]. - The company's total liabilities were reported at HKD 1,126,412,406, a decrease from HKD 1,130,385,429 in the previous period[65]. - The company's net liabilities decreased from approximately HKD 116.2 million as of December 31, 2022, to approximately HKD 97.6 million as of June 30, 2023[49]. - As of June 30, 2023, the company had no borrowings, making the asset-to-liability ratio not applicable[29]. - The company has a net debt of HKD 97,588,670 as of June 30, 2023, primarily due to financial liabilities including HKD 102,874,772 in listed warrants[99]. - The company has a redemption liability of HKD 1,001.0 million related to A-class shares, unchanged from the previous reporting period[162]. Operating Performance - The company reported an operating loss that increased from approximately HKD 2.3 million to approximately HKD 26.6 million during the reporting period[25]. - The net loss for the period increased from approximately HKD 2.3 million in the first half of 2022 to approximately HKD 27.1 million in the current reporting period[47]. - For the six months ending June 30, 2023, the company reported a total revenue of HKD 21,473,507, with a significant operating loss of HKD (26,558,197)[64]. - The company recorded a basic and diluted loss per share of HKD (1.08) for the same period, compared to HKD (0.06) in the previous period[64]. - The company has not generated any revenue from its main business of acquiring suitable targets for special purpose acquisition company transactions during the reporting period[102]. - The company has not generated any revenue during the reporting period and has focused solely on identifying potential acquisition targets[127]. - The company has incurred total expenses of HKD (45,673,596) during the reporting period[64]. - The company reported total expenses of HKD 2,107,235 for the six months ending June 30, 2023, compared to HKD 596,879 for the same period last year[81]. Acquisition Strategy - The company has not identified any specific acquisition targets or entered into binding agreements for any potential special purpose acquisition company transactions during the reporting period[22]. - The company is actively seeking acquisition targets with strong and sustainable growth prospects to recommend to shareholders for approval[30]. - The company is focused on identifying suitable targets for a business combination within the stipulated timeframe[73]. - The company is continuously seeking potential acquisition targets for special purpose acquisition company transactions[78]. - The company is actively seeking acquisition targets in high-growth sectors such as innovative technology, consumer and new retail, high-end manufacturing, healthcare, and climate action in the Greater China region[155]. Corporate Governance - The company has maintained a high level of corporate governance to safeguard shareholder interests and enhance corporate value[35]. - The company has established an audit committee in accordance with corporate governance guidelines[173]. - The company has not adopted any employee compensation policy since its establishment and will determine such policies post-acquisition[52]. Financial Management - The company aims to ensure its continued operation and provide returns to shareholders, with no external capital requirements imposed[20]. - The company plans to maintain or adjust its capital structure through the issuance of new shares or debt financing as needed[124]. - The company has sufficient financial resources to meet its ongoing capital requirements prior to the completion of the acquisition of the special purpose acquisition company[132]. - The company plans to gradually utilize the remaining unallocated funds held outside the trust account upon the completion of the acquisition transaction within 36 months post-listing[191]. - The company confirmed interest income of approximately HKD 21.5 million during the reporting period, compared to zero in the previous year[177]. Shareholder Matters - The company has obligations to redeem Class A shares at HKD 10 per share under certain conditions, and if not redeemed, will issue additional warrants[6]. - Shareholders will receive 0.2 additional warrants for each A share held if the special purpose acquisition company transaction is not redeemed[96]. - The company has not declared or paid any dividends during the reporting period[121]. - The company has not proposed any final dividend for the reporting period due to the ongoing acquisition transaction[168]. Compliance and Reporting - The independent auditor, PwC, has reviewed the interim financial data according to the Hong Kong Institute of Certified Public Accountants' standards[192]. - The interim performance and interim report will be published[193]. - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the current accounting period[79]. - The company has not made any changes to its accounting policies during the reporting period[180]. - There were no significant subsequent events reported after the reporting period[174].
INTERRA ACQ-Z(07801) - 2023 - 中期业绩