Financial Position - As of June 30, 2023, the company's cash and cash equivalents amounted to HKD 26,520,898, a significant increase from HKD 5,047,637 as of December 31, 2022, representing a growth of approximately 426%[5] - Total assets reached HKD 1,029,250,121, compared to HKD 1,009,217,611 at the end of 2022, indicating an increase of about 2%[5] - The company's total liabilities were HKD 1,199,645,693, slightly up from HKD 1,195,608,185, reflecting a marginal increase of around 0.3%[5] - The company has net liabilities of HKD 170,395,572, primarily from financial liabilities related to warrants and deferred underwriting commissions[25] - The company had no significant contingent liabilities as of June 30, 2023, and no borrowings, resulting in a net capital debt ratio that is not applicable[80][81] Operational Performance - The net loss attributable to the company's shareholders for the six months ended June 30, 2023, was HKD 170,395,572, compared to a loss of HKD 186,390,574 for the same period in 2022, showing an improvement of approximately 8.6%[5] - The company reported a total loss of HKD 81,152,854 for the six months ended June 30, 2023, compared to a loss of HKD 1,990,310 for the same period in 2022[19] - Adjusted loss for the period was HKD 20,252,510, significantly improved from a loss of HKD 1,990,310 in the previous year[19] - The company incurred total operating expenses of HKD 97,147,856, which includes share-based payment expenses related to warrants and shares[19] - The company incurred expenses of approximately HKD 104,500,000 during the reporting period, with no operational revenue generated aside from interest income of approximately HKD 23,300,000[75][76] Share Capital and Securities - The company’s issued share capital remained unchanged at HKD 2,501 as of June 30, 2023[5] - The company issued 100,050,000 special purpose acquisition company shares and 50,025,000 warrants at a total price of HKD 1,000,500,000[34] - The company issued 1,000,500,000 special purpose acquisition company (SPAC) shares, with transaction costs amounting to HKD 55,694,586[49] - The total proceeds from the special purpose acquisition company (SPAC) sale amounted to HKD 1,000,500,000, with net proceeds from the sale of warrants estimated at approximately HKD 8,800,000 after deducting related expenses[110][111] Acquisition Strategy - The company has not yet identified any specific acquisition targets as of June 30, 2023, despite ongoing efforts to find suitable opportunities[12] - The company is focused on identifying high-quality SPAC merger targets with attractive valuations and aims to complete a merger within 36 months from the listing date[68] - The company plans to seek SPAC merger targets with strong and sustainable growth prospects in the coming months[70] - The company has not engaged in any negotiations or evaluations regarding potential SPAC merger transactions as of the reporting period[68] - The company has not identified any specific SPAC merger targets as of June 30, 2023, and continues to focus on its business strategy outlined in its listing document[98] Governance and Compliance - The company has adopted the corporate governance principles and code provisions as a basis for its corporate governance practices since its listing date[122] - The audit committee, consisting of three independent non-executive directors, has reviewed the interim results and confirmed compliance with relevant accounting standards[115] Future Plans and Funding - The company has committed to securing financial support of HKD 10,000,000 from its sponsors[12] - The company plans to utilize the proceeds from the SPAC sale for the completion of the SPAC merger transaction and to meet operational funding needs prior to the merger[124] - The company plans to utilize unspent proceeds from the sale of founder warrants, with approximately HKD 2,700,000 used for general operational funding during the reporting period[91] - The company expects to have sufficient working capital to meet its obligations for the next twelve months[25] Employee and Dividend Policy - The company has no full-time employees as of June 30, 2023, and did not incur any employee costs during the reporting period[106] - The company does not plan to hire any full-time employees until the completion of the SPAC merger transaction[87] - The company has not declared or paid any dividends during the reporting period[56] - The company will not declare any interim dividends for the reporting period, similar to the situation on June 30, 2022[109] - The company has no plans to pay dividends before the completion of the SPAC merger transaction[109] Currency and Market Risks - The company emphasizes that any currency fluctuations may adversely affect the attractiveness of potential acquisition targets and the financial condition of the successor company post-merger[105]
汇德收购-Z(07841) - 2023 - 中期业绩