Financial Performance - 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]. - Basic and diluted loss per share was HKD 3.24 for the six months ended June 30, 2023, compared to HKD 1.54 for the same period in 2022[19]. - Adjusted loss for the period was HKD 20,252,510, a significant improvement from a loss of HKD 1,990,310 in the previous period[19]. - The company recorded a total loss and comprehensive income of approximately HKD 81,200,000 for the reporting period, with an adjusted profit of approximately HKD 20,300,000 after excluding certain expenses[80][81]. - The total expenses for the six months ended June 30, 2023, amounted to HKD 3,075,348, compared to HKD 656,681 for the same period in 2022, indicating a significant increase in operational costs[142]. Assets and Liabilities - The company had cash and cash equivalents of HKD 26,520,898 as of June 30, 2023, a significant increase from HKD 5,047,637 at the end of 2022[20]. - Total assets amounted to HKD 1,029,250,121 as of June 30, 2023, compared to HKD 1,009,217,611 at the end of 2022[20]. - The total liabilities were HKD 1,199,645,693 as of June 30, 2023, slightly up from HKD 1,195,608,185 at the end of 2022[20]. - As of June 30, 2023, the company's net liabilities were approximately HKD 170,400,000, down from HKD 186,400,000 as of December 31, 2022[52]. - The company has a net debt of HKD 170,395,572, primarily from financial liabilities including HKD 147,078,503 in special purpose acquisition company warrants and HKD 51,751,690 in deferred underwriting commissions[131]. SPAC Activities - The company is actively seeking special purpose acquisition company (SPAC) merger targets but has not selected any specific targets as of June 30, 2023[9]. - The company has not commenced any business activities since its incorporation and expects to generate operational revenue only after completing a SPAC merger transaction[22]. - The company plans to utilize the proceeds from the special purpose acquisition company (SPAC) for completing acquisition transactions within 36 months from the listing date[90]. - The company has a 24-month period from August 15, 2022, to announce terms for potential SPAC transactions and a 36-month period to complete such transactions[49]. - The company aims to select high-quality SPAC acquisition targets to negotiate favorable acquisition terms and create attractive returns for shareholders[76]. Capital and Financing - The company raised a total of HKD 1,000,500,000 from its special purpose acquisition company (SPAC) offering, which is held in a custodial account for future acquisitions[54]. - The company issued 100,050,000 SPAC shares and 50,025,000 warrants at a total price of HKD 1,000,500,000 on the listing date[32]. - After deducting approximately HKD 15,100,000 in underwriting expenses and about HKD 7,500,000 in listing expenses, the net proceeds from the sale of founder warrants are estimated to be around HKD 8,800,000[106]. - The company has committed to providing financial support of HKD 10,000,000 through loan financing[139]. - The company has received a maximum unsecured, interest-free loan of HKD 10,000,000 from Hong Kong Acquisition Limited[102]. Governance and Compliance - The audit committee has reviewed the interim results and believes they comply with relevant accounting standards and regulations[121]. - The company has adopted corporate governance practices in line with the listing rules since the listing date[92]. - The company has no outstanding borrowings, resulting in a net capital debt ratio that is not applicable as of June 30, 2023[55]. - The company has no income tax liabilities due to the absence of taxable profits in any jurisdiction[143]. - The company’s financial report was authorized for publication on August 23, 2023[138]. Operational Status - The company has not engaged in any business activities since its establishment and is focused on identifying potential acquisition targets with strong growth prospects[49]. - The company has not generated any revenue during the reporting period, as its main business is focused on acquiring suitable targets for special purpose acquisition transactions[141]. - The company has no full-time employees and did not incur any employee costs during the reporting period[87]. - The company has not made any significant investments or acquisitions during the reporting period[86]. - The company has no major investments or capital asset plans beyond those disclosed in the listing document as of June 30, 2023[110].
汇德收购-Z(07841) - 2023 - 中期业绩