Financial Performance - For the six months ended June 30, 2023, the company reported a total comprehensive loss of HKD 24.7 million, a significant improvement from a loss of HKD 94.0 million for the same period in 2022[28]. - The company recorded other income and losses of HKD 19.5 million for the six months ended June 30, 2023, compared to HKD 0.5 million for the same period in 2022, indicating improved financial performance[28]. - The fair value change of warrant liabilities resulted in a gain of HKD 0.4 million for the six months ended June 30, 2023, compared to a loss of HKD 5.0 million for the same period in 2022[30]. - The loss before tax for the six months ended June 30, 2023, was HKD 24,704 thousand, a reduction from a loss of HKD 93,981 thousand in the same period of 2022, reflecting improved financial performance[114]. - The basic and diluted loss per share for the six months ended June 30, 2023, was HKD 1.02, compared to HKD 2.73 in 2022, showing a decrease in loss per share[114]. - The company reported a total revenue of 19,467,000 HKD for the six months ended June 30, 2023, compared to 510,000 HKD in the same period of 2022[157]. - The company incurred a loss of HKD (24,704) thousand during the period, contributing to the total comprehensive loss of HKD (24,704) thousand[200]. - The total comprehensive loss for the first half of 2023 was HKD (24,704) thousand, indicating a challenging financial environment[200]. Administrative Expenses - Administrative expenses for the six months ended June 30, 2023, were HKD 44.6 million, compared to HKD 24.1 million for the same period in 2022, reflecting increased operational costs[28]. - Administrative expenses for the six months ended June 30, 2023, amounted to HKD 44.6 million, up from HKD 24.1 million for the same period in 2022, primarily due to a shorter reporting period in 2022[32]. - The share-based payment expense for the period was HKD 42,949 thousand, compared to HKD 62,020 thousand in the previous period[200]. Cash and Cash Equivalents - As of June 30, 2023, cash and cash equivalents were HKD 33.3 million, an increase from HKD 16.6 million as of December 31, 2022, attributed to interest income from the proceeds of the B shares and warrants[34]. - As of June 30, 2023, the company's cash and cash equivalents balance was HKD 33,333 thousand, up from HKD 10,520 thousand in the previous year[119]. - The company reported a net increase in cash and cash equivalents of HKD 16,726,000 for the six months ended June 30, 2023, compared to HKD 10,520,000 in the same period of 2022[190]. Merger and Acquisition Activities - The company has not entered into any binding agreements with potential merger targets or third-party investors as of the report date, indicating ongoing evaluation of acquisition opportunities[19]. - The company is actively assessing and negotiating potential merger transactions, incurring due diligence and other expenses related to these efforts[27]. - The company plans to focus on technology-enabled new economy sectors in Asia, particularly in China, such as green energy and advanced technology[23]. - The company has not selected any potential merger targets or entered into any binding agreements for special purpose acquisition transactions as of June 30, 2023[99]. - The company expects to incur due diligence and transaction expenses related to the successful completion of a special purpose acquisition company merger, to be funded from its own cash and third-party investment proceeds[167]. - The company remains confident in completing a merger transaction within the regulatory timeline despite existing risks and uncertainties[11]. - The company anticipates the special purpose acquisition company merger to occur between December 2022 and December 2023[172]. Corporate Governance - The company has maintained compliance with all applicable corporate governance codes, except for the requirement that the roles of Chairman and CEO be held by different individuals[66]. - The company’s board has confirmed compliance with the trading policies set forth in the standard code for directors as of June 30, 2023[90]. - The company has established an audit committee consisting of two independent non-executive directors and one non-executive director[86]. - The company has adopted governance measures appropriate for its status as a SPAC, allowing for efficient decision-making[85]. Shareholder Information - As of June 30, 2023, the major shareholder, China Merchants Bank Co., Ltd., holds 19,394,403 shares, representing approximately 19.42% of Class A shares[73]. - The company’s major shareholders include CMB Global Access SPC and CMBI Private Equity Series B SPC, holding 371,857 and 5,453,910 Class A shares respectively[90]. - The company has a total of 13,568,636 Class A shares that may be issued upon the exercise of founder warrants[91]. Regulatory and Compliance - The company is classified as a special purpose acquisition company (SPAC) and is subject to specific regulations regarding the completion of acquisition transactions[99]. - The company has adopted all new and revised International Financial Reporting Standards effective from January 1, 2023, with no significant impact on its accounting policies or financial statements[114]. - The company has not recognized any income tax provisions for the six months ended June 30, 2023, as it is not required to pay income tax in the Cayman Islands[136]. Operational Status - The company has not commenced any business operations and has not generated any revenue for the six months ended June 30, 2023[45]. - The company has not engaged in any purchases, sales, or redemptions of its listed securities as of June 30, 2023[62]. - The company has not conducted any major capital asset acquisitions or investments during the reporting period[81]. - The company has not engaged in any business operations and thus faces no foreign exchange risk[82]. - The company has no employees and relies on the staff of its parent company, CMB International Financial Limited[81]. Financial Position - As of June 30, 2023, non-current assets in the form of restricted cash amounted to HKD 1,000.7 million, with current assets totaling HKD 33.5 million[53]. - The company has net current liabilities of 1,009,128,000 HKD and net debt of 8,478,000 HKD as of June 30, 2023[152]. - The company has significant uncertainty regarding its ability to continue as a going concern, which may affect its ability to realize assets or settle liabilities[131]. - The company has no significant unrecognized deferred tax assets as of the reporting period[158]. - The company has not disclosed any other individuals with interests in its shares or related securities as of June 30, 2023[92].
AQUILA ACQ-Z(07836) - 2023 - 中期业绩