Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 39,958 thousand, a decrease of 45.5% compared to HKD 73,253 thousand for the same period in 2022[1] - Net loss from financial assets at fair value through profit or loss was HKD (2,001) thousand, a significant decline from a gain of HKD 38,697 thousand in the previous year[1] - Interest income increased to HKD 35,199 thousand, up 9.5% from HKD 32,141 thousand in the prior year[1] - Dividend income rose to HKD 6,129 thousand, compared to HKD 2,069 thousand in the same period last year, marking a 195.5% increase[1] - Other income for the period was HKD 17,907 thousand, an increase of 59.5% from HKD 11,243 thousand in the previous year[2] - The company reported a pre-tax profit of HKD 14,168 thousand, a turnaround from a loss of HKD (37,139) thousand in the same period last year[2] - Net profit for the period was HKD 11,781 thousand, compared to a loss of HKD (39,449) thousand in the previous year[2] - Basic and diluted earnings per share for the period were HKD 0.19, a recovery from a loss of HKD (0.65) per share in the same period last year[2] - The group recorded a net profit of HKD 11,800,000 for the six months ended June 30, 2023, compared to a net loss of HKD 39,400,000 for the same period in 2022[82] - The company recorded a total comprehensive loss of HKD 336.1 million during the reporting period, compared to HKD 297.1 million in the previous period[147] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 4,964,115 thousand, a decrease from HKD 5,279,626 thousand as of December 31, 2022[3] - The company's net asset value remained stable at HKD 4,964,115 thousand compared to HKD 5,278,315 thousand at the end of the previous year[3] - Total assets as of June 30, 2023, amounted to HKD 5,754,134,000, with HKD 794,213,000 in financial services, HKD 3,629,545,000 in tactical and/or strategic investments, and HKD 334,529,000 in credit services[28] - The total liabilities were HKD 475,819,000, with HKD 59,083,000 in financial services and HKD 251,631,000 in tactical and/or strategic investments[28] - The group’s total liabilities decreased from HKD 294,023,000 as of December 31, 2022, to HKD 178,755,000 as of June 30, 2023[79] - The group’s non-secured loans decreased from HKD 240,824,000 as of December 31, 2022, to HKD 126,538,000 as of June 30, 2023[79] Operational Highlights - Employee benefits expenses amounted to HKD 7,430,000, including salaries and other benefits[31] - The company did not experience significant impacts from the adoption of new or revised Hong Kong Financial Reporting Standards during the reporting period[20] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[35] - The company sold all equity interests in the Siston Group for a consideration of HKD 110,000,000, with the transaction completed on August 8, 2023[95] - The group employed 28 full-time employees as of June 30, 2023, a slight decrease from 29 employees at the end of 2022[179] Investment and Strategic Initiatives - The company continues to hold a 17.81% stake in Future Capital, acquired for 750,000,000 HKD, indicating a strategic investment for long-term holding[42] - The company’s non-listed investment funds primarily invest in securities listed in Hong Kong and overseas, with a total value of HKD 88,066,000 as of June 30, 2023, down from HKD 103,143,000[94] - The company is cautiously seeking opportunities to expand its business beyond the leasing property market while maintaining a conservative treasury policy due to market uncertainties[129] - The company aims to build a resilient and robust investment portfolio to create shareholder value, despite the uncertain overall economic outlook[146] Credit and Risk Management - The company’s credit model focuses on providing large loans to high-quality borrowers, including listed companies and individuals with valuable assets[104] - The credit committee evaluates potential clients based on their creditworthiness, repayment ability, and legal due diligence, ensuring a thorough assessment process[112] - The company emphasizes monitoring loan repayment situations and taking appropriate actions for overdue loans, including legal measures if necessary[132] - The interest income from receivables during the reporting period was HKD 10,700,000, down 47.7% from HKD 20,500,000 in the previous period, attributed to a prudent approach in credit services[118] Market Conditions and Future Outlook - The global business and investment environment remains challenging and uncertain for the second half of 2023[177] - The company continues to monitor foreign exchange risk exposure and will consider appropriate actions to mitigate risks as necessary[174] - The mid-term report will be sent to shareholders in September 2023 and will be available on the company's website[183]
威华达控股(00622) - 2023 - 中期业绩