Financial Performance - For the six months ended June 30, 2023, the company reported total revenue of HKD 4,000[6] - Other income and losses amounted to HKD 19,387,000, a significant increase from HKD 82,000 in the same period last year[6] - Administrative expenses for the period were HKD 60,265,000, compared to HKD 5,928,000 in the previous year[6] - The loss before income tax for the six months ended June 30, 2023, was HKD 40,878,000, a decrease from HKD 96,944,000 in the same period last year[6] - Basic and diluted loss per share was HKD 1.633, compared to HKD 4.423 for the same period last year[6] - The company recorded a net loss of HKD 43,704,000 for the six months ended June 30, 2023, an improvement from a net loss of HKD 57,006,000 for the same period in 2022, reflecting a reduction of 23.3%[27] - The company incurred a loss of HKD 40,878,000 during the reporting period[39] - As of June 30, 2023, the company reported a loss of approximately HKD 40,878,000, compared to a loss of HKD 96,944,000 for the same period in 2022[46] - The company did not generate any revenue for the six months ended June 30, 2023, consistent with the period from January 20, 2022, to June 30, 2022[43] Assets and Liabilities - As of June 30, 2023, the company reported cash and cash equivalents of HKD 20,327,000, an increase from HKD 8,001,000 as of December 31, 2022, representing a growth of 153.4%[27] - The company has total current assets of HKD 21,745,000 as of June 30, 2023, compared to HKD 8,944,000 as of December 31, 2022, indicating a significant increase of 143.5%[27] - The company has total liabilities of HKD 1,066,449,000 as of June 30, 2023, slightly decreasing from HKD 1,066,950,000 as of December 31, 2022, showing a marginal decline of 0.05%[27] - The company has a restricted cash balance of HKD 1,001,000,000, unchanged from December 31, 2022, indicating stability in this asset category[27] - As of June 30, 2023, the company has cash of HKD 20,327,000 and net current liabilities of HKD 1,044,704,000[39] - The company has approximately HKD 1,001.0 million in non-current assets as of June 30, 2023, all attributed to the proceeds held in the trust account[112] - The company has approximately HKD 21.7 million in current assets, including cash and cash equivalents of about HKD 20.3 million[112] Share Capital and Financing - The company has issued 100,100,000 Class A shares and 50,050,000 listed warrants as of June 30, 2023, since its listing on June 10, 2022[30] - The total amount of funds raised from the listing is HKD 1,001,000,000, which is held in a trust account[33] - The total amount raised from the issuance of A shares and listed warrants on June 10, 2022, was HKD 1,001.0 million[81] - The company issued 25,025,000 B shares and 35,000,000 founder warrants, with total subscription amounts of HKD 195,000 and HKD 35,000,000 respectively[64] - The company has a maximum operating loan facility of HKD 10 million, but did not withdraw any funds from this facility during the relevant period[138] - The company has a loan agreement for HKD 10.0 million, dated June 2, 2022, which is an unsecured loan[162] Corporate Governance and Compliance - The company is committed to adhering to corporate governance principles and will continue to review and enhance the quality of its governance practices[125] - The company has adopted standard rules for regulating directors' securities trading[146] - The company has complied with the applicable corporate governance code provisions during the relevant period[146] - The company maintains compliance with public shareholding requirements as stipulated by listing rules[129] Special Purpose Acquisition Company (SPAC) Activities - The company was established as a special purpose acquisition company (SPAC) on January 20, 2022[8] - The company anticipates generating operational revenue only after the completion of a merger transaction[9] - The company is focusing on potential merger targets in the intelligent vehicle technology sector and companies with supply chain and cross-border e-commerce capabilities[82] - The company has not yet identified a suitable special purpose acquisition company target that aligns with its business strategy and commercial viability[84] - The expected special purpose acquisition company merger date is between December 2022 and December 2023, with a projected period of 5 years[101] - The company plans to conduct due diligence on the identified special purpose acquisition company targets and expects the related expenses to be covered by the successor company[75] - The company is in the process of identifying suitable targets for special purpose acquisition transactions that align with its business strategy[143] - The company has committed to publish announcements regarding special purpose acquisition company transactions within 18 and 30 months from the listing date[143] Future Outlook and Risks - There is significant uncertainty regarding the company's ability to continue as a going concern[40] - The company expects to continue incurring significant costs while executing the special purpose acquisition[39] - The company may require additional financing to complete SPAC transactions if cash needs exceed the amounts held in the trust account[111] - The company aims to create substantial returns for shareholders by selecting quality acquisition targets with attractive valuations[87] - The company will continue to closely monitor global economic and market conditions while exploring potential acquisition targets[88] Miscellaneous - The company has not engaged in any revenue-generating transactions during the reporting period[70] - The company has not yet commenced any business or generated any revenue since its establishment on January 20, 2022[93] - The company has not engaged in the purchase, sale, or redemption of any listed securities during the relevant period[150] - The company has not recognized any significant deferred tax liabilities during the reporting period[53] - The company has not employed any staff, and the executive and non-executive directors do not receive any remuneration[144] - The company has not pledged any of its assets as of June 30, 2023[145] - There have been no significant events for the company or its subsidiaries after the relevant period and until the approval date of this interim performance announcement[149]
VISION DEAL-Z(07827) - 2023 - 中期业绩