Financial Performance - The net loss attributable to the company's sponsors for the year was HKD 58,174,577, compared to a loss of HKD 139,058,251 in the previous year, showing an improvement of approximately 58%[18]. - The company reported no revenue generated during the reporting period, as its main business focuses on identifying suitable acquisition targets[15]. - The company incurred a total operating loss of HKD 11,947,158 for the year ending December 31, 2023, compared to a loss of HKD 96,314,662 in the previous year[31]. - The company's total comprehensive loss for the year was HKD (58,174,577), compared to HKD (139,058,251) in the previous year[31]. - The basic and diluted loss per share for the year was HKD (2.32), compared to HKD (4.33) in the previous year[31]. - The company's loss and total comprehensive income decreased from approximately HKD 139.1 million to about HKD 58.2 million during the reporting period[130]. Assets and Liabilities - As of December 31, 2023, total assets amounted to HKD 1,050,876,911, an increase from HKD 1,014,221,900 in the previous year, representing a growth of approximately 3.6%[6]. - Total liabilities rose to HKD 1,172,446,205 from HKD 1,130,385,429, reflecting an increase of about 3.7%[6]. - The total liabilities include HKD 1,047,259,451 in redeemable debt from Class A shares, up from HKD 1,001,000,000 in the previous year[6]. - The company's net liabilities increased from HKD 116.2 million as of December 31, 2022, to approximately HKD 121.6 million as of December 31, 2023[134]. - The total recognized liability for the redemption of Class A shares increased to HKD 46,259,451 as of January 1, 2023[177]. Cash Flow and Financial Position - Cash and cash equivalents decreased to HKD 2,077,546 from HKD 10,115,072, indicating a decline of about 79.5%[6]. - The company's cash and cash equivalents, along with interest receivables and prepaid items, are expected to be recoverable or recognized as expenses within one year[22]. - The company raised a total of HKD 35.6 million from the sale of sponsor warrants, which is held outside the escrow account[164]. - The company reported no revenue during the reporting period, but recognized interest income of approximately HKD 44.7 million, compared to HKD 2.6 million for the previous period[94]. - Cash and cash equivalents decreased to approximately HKD 2.1 million from HKD 10.1 million due to net cash used for financing activities related to the company's listing expenses, amounting to approximately HKD 4.1 million[133]. Share Issuance and Capital Structure - The company issued 100,100,000 Class A shares and 40,040,000 warrants at a price of HKD 10.00 per share during its initial public offering[10]. - The company issued 35,600,000 warrants at a price of HKD 1.00 each during its private placement[34]. - The company issued 25,025,000 Class B shares at a price of HKD 0.0001 per share on July 28, 2022[55]. - The total subscription price for the 35,600,000 founder warrants issued was HKD 35,600,000, with each warrant allowing the holder to purchase one share of the successor company at HKD 11.5[55]. - The company plans to manage and adjust its capital structure in response to economic conditions, which may include issuing new shares or redeeming existing debt[63]. Acquisition Strategy - The company is actively seeking potential acquisition targets since its establishment and issuance[66]. - The company is focused on identifying high-growth companies in sectors such as innovative technology, consumer and new retail, high-end manufacturing, healthcare, and climate action for potential acquisitions[91]. - The company must complete the acquisition transaction within 36 months of the listing date to avoid returning funds to Class A shareholders[45]. - The company has not identified any specific acquisition targets or entered into binding agreements for any potential special purpose acquisition company transactions[122]. - The company plans to conduct comprehensive due diligence on potential acquisition targets and expects significant costs associated with this process[106]. Corporate Governance and Compliance - The company maintains a high level of corporate governance to protect shareholder interests and enhance corporate value[115]. - The company has established an audit committee in accordance with corporate governance guidelines[166]. - The company has complied with all applicable corporate governance rules during the reporting period[160]. - The company does not have any external capital requirement restrictions[120]. Future Outlook and Events - The annual general meeting is scheduled for June 21, 2024, with relevant notices to be published in due course[169]. - There are no significant subsequent events reported after the reporting period[169]. - The company has not made any significant investments or acquisitions during the reporting period[107]. - There are no major investments or capital asset plans disclosed for the future as of December 31, 2023[157].
INTERRA ACQ-Z(07801) - 2023 - 年度业绩