Investment Strategy - The investment strategy consists of four pillars: coreholding-centered unlisted equity investments, debt investments, fund investments, and listed equity investments, aimed at achieving a balanced and efficient portfolio[14]. - The company has undergone comprehensive adjustments and optimization of its investment strategy since last year, reflecting a proactive approach to market conditions[14]. - The focus on unlisted equity investments aims to identify and invest in companies with long-term growth potential, providing necessary capital support[15]. - Debt investment strategy is designed to achieve stable fixed income through bond purchases or loans, enhancing overall portfolio stability[15]. - Fund investment strategy leverages industry expertise and market insights from professional fund management companies to diversify investment opportunities[15]. - Listed equity investment strategy emphasizes short-term investment opportunities in both domestic and international secondary markets to balance liquidity and returns[15]. - The company aims to deliver continuous and stable investment returns to shareholders through its diversified investment strategies[15]. - The management discussion highlights the importance of comprehensive assessments of return, risk, and opportunity cost in investment decisions[6]. - The company is committed to maximizing the value of its capital and financing capability as a public entity[6]. - The company has re-established its four core investment strategies: unlisted equity investments, debt investments, fund investments, and listed equity investments[21]. - The company emphasizes investment diversity and risk diversification in response to market volatility and uncertainty[21]. Financial Performance - As of September 30, 2024, total revenue reached HK$249,745,000, an increase of 12.6% compared to HK$221,641,000 for the same period in 2023[54]. - The comprehensive income for the period ended September 30, 2024, was HK$96,876,000, compared to HK$72,502,000 for the same period in 2023, reflecting a growth of 33.6%[54]. - The company reported a dividend income and interest revenue of HK$128,897,000 for the six months ended September 30, 2024, down from HK$147,416,000 in the previous year[54]. - The Hong Kong segment generated revenue of HK$380,533,000 as of September 30, 2024, up from HK$269,908,000 as of March 31, 2024, indicating a significant increase[57]. - The Mainland China segment reported revenue of HK$304,082,000, a decrease from HK$399,831,000 in the previous period[57]. - The company’s earnings for the purpose of calculating basic and diluted earnings per share were HK$24,374,000 for the six months ended September 30, 2024, compared to HK$23,146,000 in 2023, representing a growth of 5.3%[62]. - The total comprehensive income for the period as of September 30, 2023, was HK$10,009,496,000, compared to HK$9,870,137,000 as of September 30, 2024[1]. Investment Valuation - Investments at fair value through profit or loss amounted to HK$1,730,589,000 as of September 30, 2024[46]. - The company’s fair value measurements included a discount rate range of 7.79% to 37.52% for discounted cash flows[46]. - The market comparable companies' price-to-sales ratio was reported at 64.98, indicating a potential increase in fair value[46]. - The fair value of unlisted non-voting preference shares was reported at HK$24,500,000, with a price-to-book ratio of 1.91[73]. - The Group's share of net assets from unlisted investment funds and limited partnerships was HK$1,733,915,000[73]. - The discounted cash flows for unlisted economic interests were valued at HK$1,632,000, with a discount rate of 11.70%[73]. Debt and Borrowing - The average effective interest rate on borrowings was 6.50% as of September 30, 2024, slightly down from 6.55% as of March 31, 2024[99]. - The Group's interest on borrowings for the period was HK$24,695,000, a decrease from HK$42,023,000 in the same period of the previous year, indicating a reduction of approximately 41.1%[81]. - The provision for expected credit losses (ECL) for debt investments was HK$29,224,000 for the six months ended September 30, 2024, compared to a reversal of HK$12,033,000 in the previous period[106]. - Total debt investments as of September 30, 2024, were HK$2,787,157,000, a decrease from HK$3,749,489,000 as of March 31, 2024[111]. - The tenure of debt investments ranged from 6 months to 2 years, with interest rates applied between 7.00% to 10.00% per annum[91]. Corporate Governance and Compliance - The Group's compliance with the Corporate Governance Code was confirmed, with no known issues reported[68]. - The Board is not aware of any information indicating non-compliance with the Corporate Governance Code during the reporting period[3]. - Management provided regular verbal reports to Directors, although monthly management accounts were not circulated, which was deemed sufficient for performance assessment[70]. Employee and Management Changes - The Group had 30 employees as of September 30, 2024, a decrease from 32 employees as of March 31, 2024[194]. - Total staff costs for the period amounted to HK$8.41 million, compared to HK$8.71 million for the six months ended 30 September 2023[194]. - Key management personnel compensation increased to HK$985,000 for the six months ended September 30, 2024, compared to HK$905,000 in the same period of 2023, reflecting a growth of approximately 8.8%[153]. - Dr. Liu Zhiwei resigned as an executive director on 9 October 2024[171]. - Mr. Chen Yuming resigned as an independent non-executive director effective 4 September 2024[179]. - Mr. Yang Songbin was appointed as an independent non-executive director and chairman of the audit committee effective 4 September 2024[181]. Investment Disposals - The company completed the disposal of Block AI Company Limited for a consideration of HK$15,000,000 on April 9, 2024[120]. - The total consideration for the disposal of Prestige Power Global Limited (PPG) was HK$865,863,000, completed on September 29, 2023[145]. - The gain on the disposal of PPG was HK$60,000, while the loss on the disposal of another subsidiary was HK$30,010[146]. - The net cash inflow from the disposal of Block AI Company Limited was HK$14,952,000 after accounting for cash and cash equivalents disposed of[121]. - The total liabilities disposed of in the recent transactions amounted to HK$54,278,000[126]. Future Outlook and Risks - The global economic outlook remains uncertain for the rest of 2024 due to changes in international situations affecting major economies[21]. - As of September 30, 2024, there were no plans for material investments or capital assets, but potential negotiations for investments may occur[1]. - The Group did not purchase, sell, or redeem any of its securities during the reporting period[1]. - There were no significant events after the reporting period that would impact the Group's financial position[2]. - The Group's maximum exposure to foreign exchange risk was RMB2,618.19 million, equivalent to HK$2,916.28 million[1]. - The Group held certain financial assets denominated in USD, with minimal exposure to USD foreign exchange risk due to the pegging of HKD to USD[1].

Financial Performance - For the six months ended September 30, 2024, the company reported a revenue of HKD 249,745,000, representing an increase of 12.7% compared to HKD 221,641,000 in the same period of 2023[4] - The company achieved a pre-tax profit of HKD 24,374,000, up from HKD 23,146,000 in the previous year, indicating a growth of 5.3%[6] - The company reported a net profit of HKD 24,374,000 for the six months ended September 30, 2024, compared to HKD 23,146,000 for the same period in 2023[29] - Basic and diluted earnings per share for the period were both HKD 0.23, compared to HKD 0.22 in the same period last year, marking a 4.5% increase[6] - The company's total revenue for the period was HKD 128.90 million, a decrease of 12.56% compared to HKD 147.42 million in the same period last year[88] - The company recorded a profit of HKD 24.37 million for the period, compared to HKD 23.15 million in the previous year, indicating a growth of 5.25%[88] Assets and Liabilities - The total equity of the company as of September 30, 2024, was HKD 10,009,496,000, compared to HKD 9,912,620,000 as of March 31, 2024, reflecting an increase of 1.0%[8] - The company's total assets decreased to HKD 10,528,758,000 from HKD 11,422,397,000, a decline of 7.8%[9] - The company’s total liabilities decreased significantly from HKD 1,509,777,000 to HKD 519,262,000, a reduction of 65.5%[12] - The debt-to-equity ratio improved to 4.47% from 14.30% as of March 31, 2024, indicating a stronger capital structure[95] Cash and Investments - The company’s cash and cash equivalents increased to HKD 87,361,000 from HKD 45,006,000, representing a growth of 94.3%[9] - The company reported a net unrealized loss on investments of HKD 101,102,000 for the period, a decrease from HKD 112,148,000 in the previous year[4] - The company has recognized expected credit losses of HKD 29,224,000 for debt investments during the period, compared to a reversal of HKD 12,033,000 in the previous year[28] - The debt investment portfolio reached HKD 2.78716 billion, with new investments of HKD 165 million and exits totaling HKD 1.12801 billion during the period[70] - The company’s share of profits from associates and joint ventures was HKD 25.05 million, up from HKD 20.19 million, marking an increase of 24.00%[92] Investment Strategy - The company has adjusted its investment strategy to focus on four core strategies: non-listed equity investments, debt investments, fund investments, and listed equity investments[35] - The investment portfolio is diversified into four strategies: non-listed equity investments (54%), bond investments (27%), fund investments (18%), and listed equity investments (1%) as of September 30, 2024[40] - The company focuses on non-listed equity investments in firms with long-term growth potential, with a total holding of HKD 5.48154 billion in this category as of September 30, 2024[44] - The company aims to enhance its investment portfolio's diversity and stability by investing in various asset classes, including non-listed equities, bonds, funds, and listed equities[36] - The investment strategy has been adjusted to focus on emerging technology sectors, aiming to capitalize on industry trends amid global economic uncertainties[36] Operational Highlights - The company did not incur any taxable profits for the periods ended September 30, 2024, and 2023, resulting in no income tax provisions[26] - The company’s operating and administrative expenses decreased to HKD 18.25 million from HKD 32.03 million, a reduction of 43.00%[92] - The group had a total employee cost of HKD 8.41 million, a decrease from HKD 8.71 million in the previous six months[105] Corporate Governance - The audit committee consists of three independent non-executive directors who reviewed the group's accounting principles and internal controls[117] - The group has adopted a policy for directors and employees regarding securities trading, confirming compliance during the period[115] - The group has no arrangements for directors or senior executives to acquire shares or bonds during the period[116] Future Outlook - As of September 30, 2024, the group had no significant investment or capital asset plans, but may engage in discussions for potential investments[109] - The mid-term performance announcement will be published on the Hong Kong Stock Exchange and the company's website, covering the six months ending September 30, 2024[124]

Company Overview - The company changed its name to Wealthink AI-Innovation Capital Limited to reflect its strategic focus on intelligent technology and to enhance its brand image[4]. - The Company has been operating as an investment company since its incorporation on July 26, 2002[185]. Investment Strategy - The investment strategy for FY2023/2024 includes core-holding-centered unlisted equity investment, debt investment, fund investment, and listed equity investment[10]. - The company established a four-core investment strategy focusing on core-holding-centered unlisted equity investment, debt investment, fund investment, and listed equity investment[22]. - The investment strategy was adjusted in response to the volatile international trading environment and geopolitical risks affecting China's economy[22]. - The Company’s principal investment objective is to achieve earnings through capital appreciation[185]. - The Group's main investment objective is to achieve medium to long-term capital appreciation through a diversified global investment portfolio[162]. Financial Performance - The Group recorded total revenue of HK$308.33 million for the year, representing an increase of 59.97% compared to HK$192.74 million in the same period last year[97]. - Profit for the year was HK$53.65 million, down from HK$146.38 million in the previous year, impacted by net changes in unrealized losses and finance costs[97]. - The Group's net asset value as of March 31, 2024, was HK$9,912.62 million, or HK$0.94 per share, compared to HK$10,010.76 million and HK$0.95 per share as of March 31, 2023[106]. - The Group's total loans increased to HK$1,417.41 million as of March 31, 2024, compared to HK$1,280.39 million in the previous year[139]. - The Group's investments in associates and joint ventures decreased by 28.79% to HK$656.50 million, primarily due to losses from Treasure Up Ventures and disposals during the year[97]. Investment Holdings - As of March 31, 2024, the company's holdings in core holding companies amounted to HK$934.00 million, with iCarbonX Group Limited being a significant investment[12]. - Wealthink AI's unlisted equity investments totaled HK$4,329.53 million as of March 31, 2024, with new investments of HK$1,707.63 million and divestments of HK$156.79 million during the year[37]. - Wealthink AI's holdings in unlisted equity investments amounted to HK$5,263.53 million, representing a significant investment strategy focus[51][52]. - Wealthink AI's debt investment portfolio reached HK$37.4949 billion as of March 31, 2024, with new investments of HK$14.7195 billion during the year[47]. - As of March 31, 2024, Wealthink AI's holdings in the fund investment category amounted to HK$1,755.43 million, with new investments of HK$489.00 million and exits totaling HK$1,675.29 million during the year[90]. Risk Management - The company emphasizes risk management and has strengthened its internal control and compliance management over the past year[4]. - The company conducted a comprehensive business risk assessment to prioritize major risk points and prepare corresponding risk control plans[4]. - The company believes that the recovery of the Chinese economy will bring new vitality to the investment market, enhancing its project selection and risk management capabilities[5]. - The company emphasized risk management and enhanced internal controls to mitigate various risks, ensuring stable development of investment operations[20]. Market and Economic Outlook - The company aims to identify startups with disruptive technologies and explore strategic cooperation opportunities with industry leaders in AI and big data[4]. - The biotechnology industry is expected to have broad market prospects, contributing to the Group's investment strategy in advanced manufacturing and technology sectors[104]. - The Group anticipates that the further liberalization of the financial market will present new development opportunities for 恒嘉美聯, expected to yield medium-term returns[67]. Management and Governance - Dr. Wang Qin appointed as Chairman of the Board and Chairman of the Nomination Committee on June 8, 2023, bringing over 30 years of experience in finance and investment[156]. - The Company has made appropriate insurance arrangements for its Directors and senior management against legal actions arising from corporate activities[166]. - The report confirms that all independent non-executive Directors are considered independent according to the relevant regulations[168]. - The Directors do not recommend the payment of a dividend for the year[161]. Employee and Operational Insights - As of 31 March 2024, the Group had 32 employees, a decrease from 33 employees as of 31 March 2023[149]. - Total staff costs for the year amounted to HK$16.10 million, down from HK$17.03 million in FY2022/2023, representing a decrease of approximately 5.4%[149]. - Operating and administrative expenses decreased to HK$61.94 million from HK$77.23 million in FY2022/2023, primarily due to reduced depreciation from office relocation[138].

Financial Performance - The total revenue for the year was HKD 308.33 million, an increase of 59.97% compared to HKD 192.74 million in the previous year[61]. - The company recorded a profit of HKD 53.65 million for the year, compared to HKD 146.38 million in the previous year[61]. - For the fiscal year ending March 31, 2024, the operating profit was HKD 240,071,000, an increase from HKD 137,013,000 in the previous year, representing a growth of 75.2%[88]. - The total revenue for the year was HKD 522,006,000, compared to HKD 469,589,000 in the previous year, indicating an increase of 11.1%[95]. - The net profit attributable to the company's owners for the year was HKD 53,653,000, down from HKD 146,383,000, reflecting a decrease of 63.4%[88]. - The company's earnings per share (EPS) for the year was HKD 0.51, a decrease from HKD 1.80 in the previous year, representing a decline of 71.7%[88]. - The company did not declare or recommend any dividends for the year 2024, consistent with 2023[111]. - The group received dividends amounting to HKD 61.775 million, an increase from HKD 41.536 million in the previous year[166]. Investment Activities - The company made new investments totaling HKD 3.83748 billion and exited investments worth HKD 3.33707 billion during the fiscal year[7]. - The largest investment in the non-listed equity category is in Sichuan Honghu Zhi Yuan Education Management Group, with a holding amount of HKD 1.632 billion as of March 31, 2024[23]. - The company holds 22.5% of the issued share capital of Southern Eastern Asset Management, valued at HKD 111.87 million, reflecting an increase of HKD 1.55 million from the previous year[14]. - The company has a 30% stake in Dongying Asset Management, with a holding amount of HKD 24.5 million as of March 31, 2024[17]. - The company’s investment in Lending Treasure amounts to HKD 1.08213 billion, representing 2.49% of the issued shares[19]. - The company has committed HKD 600 million to acquire a 19.9% stake in Hengjia Meilian[21]. - The company has invested HKD 1.70763 billion in non-listed equity investments during the year, with an exit investment of HKD 156.79 million[154]. - The total holding in non-listed equity investments reached HKD 4.32953 billion as of March 31, 2024[154]. - The group’s investment in non-listed equity reached HKD 5.26353 billion as of March 31, 2024, focusing on companies with long-term growth potential[176]. - The group’s debt investment holdings amounted to HKD 3.74949 billion as of March 31, 2024, with new investments of HKD 1.47195 billion and exits totaling HKD 1.05428 billion during the year[191]. - The group’s fund investment holdings reached HKD 1.75543 billion as of March 31, 2024, with new investments of HKD 489 million and exits of HKD 1.67529 billion during the year[193]. Financial Position - As of March 31, 2024, the net asset value of the company is HKD 9,912,620,000, a decrease from HKD 10,010,755,000 in 2023[5]. - The company's cash and bank balance as of March 31, 2024, was HKD 45.01 million, down from HKD 108.36 million a year earlier[32]. - As of March 31, 2024, the company's total equity was HKD 99.13 billion, down from HKD 100.11 billion a year earlier[67]. - The total assets as of March 31, 2024, were HKD 11,422,397,000, slightly up from HKD 11,366,205,000 in the previous year, showing a growth of 0.5%[90]. - The total liabilities increased to HKD 1,509,777,000 from HKD 1,355,450,000, marking an increase of 11.4%[90]. - The company's cash and bank balances decreased to HKD 45,006,000 from HKD 108,360,000, a decline of 58.5%[97]. - The company's net asset value per share was HKD 0.94, down from HKD 0.95 in the previous year, reflecting a decrease of 1.1%[90]. Operational Efficiency - Operating and administrative expenses totaled HKD 61.94 million, a decrease from HKD 77.23 million in the previous fiscal year[34]. - The company had 32 employees as of March 31, 2024, with total employee costs amounting to HKD 16.10 million for the year[42]. - The company incurred a loss of HKD 6,214,000 due to goodwill impairment from an investment in an associate in 2024[107]. - The expected credit loss provision for debt investments and receivables was HKD 3,956,000 in 2024, a significant improvement from a loss of HKD 108,967,000 in 2023[133]. Strategic Focus - The company’s investment strategy has been adjusted to focus on four core strategies: non-listed equity investment, debt investment, fund investment, and listed equity investment[6]. - The investment strategy focuses on diverse asset classes, including non-listed equity, debt, funds, and listed equity, to enhance portfolio stability and returns[143]. - The company aims to leverage emerging technology trends to strengthen its strategic execution in the tech sector[143]. - The company expects to benefit from the ongoing growth of the Chinese private equity market and the opening of its financial markets[152]. - The group believes that investing in the Era Navigation Fund allows indirect participation in China's emerging technology industry, with expectations of considerable mid-term investment returns[194]. - The focus on specialized and innovative enterprises has become a crucial force in stimulating innovation and improving the ecological industry in China[195]. - The group anticipates that investing in the specialized and innovative fund will provide diversified investment opportunities and potential returns from various high-growth industries[195]. Market Position and Recognition - The group aims to become the largest personal lending and supply chain financing service platform in China through its internet fintech company[186]. - The group has established strategic partnerships in Singapore, Europe, and mainland China to expand its client base and service offerings[183]. - The group has received multiple awards for its asset management products, including five awards at the 2024 "Best of the Best Awards" by Asian Asset Management[181].

第三级輸入數據： 資產或負債之不可 4. The Group's policy is to recognise transfers into and transfers out of any of the three levels as of the date of the event or change in circumstances that caused the transfer. 攀科智能投资有限公司/中期報告2023/24 Description Total 第三级 HK$'000 港幣千元 Assets profit or loss FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月 4. Recurring fair value measurements at 30 September 2023 using: | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------- ...

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Investment Performance - OPIM is expected to maintain steady growth in the number of funds and overall assets due to the increasing scale of China's private funds in the overseas market[1]. - Wealthking Investments' holdings in Other Private Equity amounted to HK$2,939.02 million as of 31 March 2023, with new investments of HK$679.51 million during the year[1]. - The Group's investment in Jiedaibao Limited has a carrying value of HK$970.52 million, representing 2.49% of the shares issued by Jiedaibao as of 31 March 2023[1]. - The Group's position in the Shidai Linghang Fund was HK$808.30 million as of 31 March 2023, with a total fund scale of RMB2 billion[14]. - The Group's investment in the Specialized and Innovative Fund amounted to HK$444.86 million as of 31 March 2023, with a total fund scale of RMB790 million[16]. - The Group recorded total revenue of HK$192.74 million during the year, representing an increase of 105.20% compared to HK$93.93 million in the same period last year[33]. - The Group achieved a profit for the year of HK$146.38 million, down from HK$221.27 million for the same period last year[33]. - Investments at fair value through profit and loss amounted to HK$6,658.22 million as at 31 March 2023, an increase of 27.60% from HK$5,217.87 million as at 31 March 2022[33]. - Debt investments reached HK$3,367.46 million as at 31 March 2023, a 5.47 times increase from HK$616.09 million as at 31 March 2022[33]. - The Group's position in Nanshan Bonds amounted to HK$975.72 million as at 31 March 2023, with the bonds fully redeemed thereafter[22]. - The Group's investment in associates and joint ventures was valued at HK$921.86 million as at 31 March 2023, an increase of 33.86% from HK$688.65 million as at 31 March 2022[33]. - The Group's net change in unrealised loss on investments at fair value through profit or loss was HK$78.61 million for the current year[33]. - Wealthking Investments' holdings in private equity amounted to HK$4,035.09 million as of March 31, 2023[124]. - The core holding companies of Wealthking Investments, including iCarbonX, CSOP, and OPIM, had a combined value of HK$1,096.07 million as of March 31, 2023[126]. - Wealthking Investments' investment portfolio is concentrated in four main sectors, accounting for 69.64% of total holdings[120]. Financial Metrics - The total interest income from debt instruments was HK$191.40 million, with interest rates ranging from 6% to 9%[8]. - The interest income from debt instruments was lower than the previous year, which was HK$91.11 million[8]. - The Group's bank and cash balances stood at HK$108.36 million as at 31 March 2023, up from HK$86.40 million as at 31 March 2022[33]. - Wealthking Investments' net asset value as of March 31, 2023, was HK$10,010.76 million, or HK$0.95 per share, compared to HK$5,528.24 million and HK$1.36 per share as of March 31, 2022[52]. - The gearing ratio for Wealthking Investments as of March 31, 2023, was 0.14, a decrease from 0.35 on March 31, 2022[52]. - The company made new investments totaling approximately HK$4.908 billion during the fiscal year, with debt investments accounting for about HK$2.858 billion[87]. - The divestment during the year amounted to approximately HK$412.87 million, primarily from listed securities, funds, and private equity investments[99]. Strategic Focus - The Group's investment strategy focuses on sectors such as technology, high-end manufacturing, and emerging industries, aligning with China's "14th Five-Year Plan"[15]. - The company aims to expand its operations in vector control and rural vitalization sectors, which are expected to contribute to medium-term returns[52]. - The company is focusing on investment strategies in technological innovation and expanding its technology-themed investment portfolio[81]. - The company is dedicated to following technological trends to ensure sustainable growth and investment opportunities[68]. - The investment strategy is focused on three pillars: core-holding-centered private equity, portfolio management, and trading, with returns generated from interests, dividends, and capital appreciation[85]. - The company has strengthened its risk management framework to effectively monitor and evaluate investment portfolio risks in a volatile market environment[90]. - The company is focusing on emerging technology fields while continuing to strengthen strategic execution in the technology sector[94]. Market Conditions - The global economic environment has been challenging, with inflation and geopolitical tensions impacting growth[78]. - The overall road machinery market experienced a downturn in 2022, impacting performance metrics[198]. Company Developments - Wealthking Investments made new investments in listed securities and equity investments to enhance capital liquidity during the year[52]. - The company successfully completed four strategic capital increases over the past year, further strengthening its capital base[82]. - As of the end of the fiscal year, the total number of shares issued reached approximately 10.5 billion, with net assets exceeding HKD 10 billion[82]. - The company is committed to fulfilling corporate social responsibilities and responding to national policies to create more value for society and investors[81]. - The company is actively investing in cutting-edge technologies, particularly in cloud computing and big data, to capitalize on AI innovations[68]. - The company recognizes the potential of AI technology to enhance production efficiency across various industries[68]. - The company plans to continue its focus on building AI infrastructure and industrial application portfolios[68]. Specific Investments - The initial investment in Ninth Eternity Asia Fund II LP was HK$803.08 million, with a carrying value of HK$808.30 million as at 31 March 2023[27]. - The cost of Wealthking Investments' initial investment in the Ninth Eternity Asia Fund LP was HK$700 million, with a carrying value of HK$779 million[50]. - Wealthking Investments acquired a 25% equity interest in Treasure Up Ventures Limited, with a carrying value of HK$436.84 million as of March 31, 2023, an increase of HK$42.49 million from HK$394.35 million in the previous year[162]. - Jiedaibao, an internet fintech company, aims to become the largest service platform for individual borrowings and corporate supply chain finance in China, leveraging AI technology and a comprehensive fintech ecosystem[151]. - Jiedaibao has gained significant market share in Mainland China, supported by licenses for online payment, commercial banking, and internet microloans, contributing to its expected medium-term returns[152]. - Dagang Holding is expected to benefit from its market leadership in high-end road equipment and the growth in urban road smart operation and maintenance sectors[52]. - The hazardous waste and solid waste recycling sector's growth momentum is anticipated to positively impact Dagang Holding's performance[52].

Financial Performance - For the fiscal year ending March 31, 2023, the group reported a total revenue of HKD 469,589,000, a significant increase from HKD 271,503,000 in the previous year, representing a growth of approximately 73%[1] - The group's operating income for the year was HKD 192,741,255, compared to HKD 93,929,130 in the prior year, indicating an increase of around 105%[1] - The group recorded total income of HKD 192.74 million for the year, an increase of 105.20% from HKD 93.93 million in the previous year[103] - The company reported a net loss of HKD 220,907,000 for the year, compared to a loss of HKD 135,915,000 in the previous year[185] - The pre-tax profit for the year 2023 was HKD 149,523,000, a decrease from HKD 217,160,000 in 2022, representing a decline of approximately 31.1%[196] - The income tax expense for 2023 was HKD 29,307,000, compared to a tax benefit of HKD (68,199,000) in 2022, indicating a significant shift in tax position[196] Investment Activities - The group’s investment strategy consists of three components: core holdings in private equity, portfolio management, and trading[23] - The group made a new investment of HKD 679.51 million during the year, bringing the total holdings in private equity to HKD 2.93902 billion as of March 31, 2023[29] - The group’s investment in a healthcare sector company has a cost of HKD 1,098,790,000 and a book value of HKD 945,850,000[26] - The company has invested HKD 895.87 million in the Jiujiao Asia Fund II, which focuses on high-growth sectors such as consumption, internet, and pharmaceuticals, with a total fund size of HKD 3 billion[85] - The company has identified several potential investment opportunities in sectors such as AI, high-end product design, and green technology since the second half of 2021[127] Financial Position - The net asset value of the group as of March 31, 2023, was HKD 10.01076 billion, or HKD 0.95 per share, compared to HKD 5.52824 billion and HKD 1.36 per share on March 31, 2022[101] - The company's total assets increased to HKD 11,366,205,000 in 2023 from HKD 7,441,213,000 in 2022, indicating a growth of 53%[188] - The company’s total equity rose to HKD 10,010,755,000 in 2023, compared to HKD 5,528,244,000 in 2022, an increase of 81%[188] - The company’s financial liabilities decreased from HKD 1,912,969,000 in 2022 to HKD 1,355,450,000 in 2023, a reduction of 29%[189] - The group’s total borrowings amounted to HKD 12.8039 billion, down from HKD 18.4497 billion the previous year, with a debt-to-equity ratio of 12.09%[134] Dividends and Shareholder Returns - The group did not declare or recommend any dividends for the fiscal year ending March 31, 2023, consistent with the previous year[12] - The board has decided not to declare any interim dividends for the current period, similar to the previous fiscal year[110] Credit and Risk Management - The group has recognized a tax provision of 25% on taxable profits for the fiscal year ending March 31, 2023, while there was no tax provision in the previous year due to no taxable profits generated in China[11] - The expected credit loss provision for the year was RMB 6.073 million (equivalent to HKD 6.909 million), compared to RMB 7.438 million (equivalent to HKD 9.155 million) in the previous year[45] - The company maintains regular communication with bond issuers and borrowers to assess expected credit loss provisions based on repayment capabilities[67] Operational Insights - The company believes its operational and borrowing resources are sufficient to meet its ongoing investment and operational funding needs in the foreseeable future[112] - The company is optimistic about the recovery of its business and financial activities in China, anticipating economic growth to rebound[152] - The company has committed to actively seizing quality investment opportunities arising from the Chinese government's economic reopening policies[156] Future Outlook - The company plans to expand its market presence and invest in new technologies to drive future growth[190] - The company aims to enhance its capital and shareholder base for long-term development through the July 2022 and September 2022 fundraising efforts[169] - The overall performance for the fiscal year ending March 31, 2023, will be elaborated in future disclosures, highlighting key metrics and strategic directions[198]

as 6 LTHKING INVESTMENTS Wealthking Investments Limited 華 科 資 本 有 限 公 司 Stock Code 股份代號 : 1140 Bridging · Integration l 視 Interim Report 中期報告 2022/2023 Contents 目錄 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|------------------------------------------------|-------|-------|-------|-------|------------------------------|-------|-------|-------| | | | | | | | | | | | | 2 | Corporate Information | | | | | 公司資料 | | | | | 5 | Management Discussion and Analysis | | | | | 管理層討論及分析 | | | | ...

华科资本 | --- | --- | --- | --- | |-------|-------|-------|----------------------------------------| | | | | | | | | | wealthking Investments | | | | | 華 科 資 本 有 限 公 司 股份代號: 1140 | | | | | | | | | | | | | | | 融 通 • 滙 聚 | 年 報 2021/2022 目錄 前瞻性陳述 頁碼 | --- | --- | |------------------------------|-------| | • 公司資料 | | | • 主席報告書 | | | • 管理層討論及分析 | | | • 董事及高級管理人員簡歷 | | | • 董事會報告 | | | • 企業管治報告 | | | • 環境、社會及管治報告 | | | • 獨立核數師報告 | | | • 綜合損益及其他全面收益表 | | | • 綜合財務狀況表 | | | • 綜合權益變動表 | | | • 綜合現金流量表 | | | • 綜合財務報表附註 | | ...