Financial Performance - The company reported a consolidated profit of HKD 257,687,000 for the year ending June 30, 2022, primarily driven by strong performance in the resource investment segment, which contributed HKD 171,572,000 to the profit[16]. - For the fiscal year ending June 30, 2022, the company reported a loss attributable to shareholders of HKD 465,994,000, compared to a profit of HKD 1,357,290,000 for the previous fiscal year[18]. - The company's major strategic investments in Mount Gibson and Tanami Gold resulted in a net loss of HKD 340,418,000 for the fiscal year 2022, down from a profit of HKD 130,374,000 in the previous year[19]. - The company recorded a fair value gain of HKD 114,142,000 from its investment in Shougang Fushan, with a book value of HKD 379,705,000 as of June 30, 2022[33]. - The company recorded a fair value gain of HKD 21.14 million from other commodities and non-commodity-related investments[57]. - The commodity business generated a segment profit of HKD 53.65 million for the fiscal year 2022, compared to HKD 55.91 million in the previous fiscal year[58]. - The major investments and financial services segment reported a profit of HKD 32.47 million, down from HKD 50.20 million in the previous fiscal year[59]. Market Outlook - The company maintains a cautious outlook on the economic environment due to expectations of further interest rate hikes and tightening monetary policy, while specific commodities like battery metals and electric vehicles present growth opportunities[16]. - The company acknowledges the impact of geopolitical risks and external uncertainties on commodity markets, which have increased volatility[11]. - The company expresses a cautious stance on China's economic outlook due to ongoing "zero-COVID" policies and their effects on economic development and commodity demand[12]. - The company recognizes the potential for a bull market contingent on China's reopening and increased government stimulus measures[12]. - The company maintains a cautious outlook on commodities and stock markets due to ongoing monetary tightening policies by the Federal Reserve and China's dynamic zero-COVID policy, which may lead to global growth weakness[89]. Investments and Acquisitions - The company issued a total of 243,778,782 warrants to eligible shareholders, with 83,236,235 warrants exercised by June 30, 2022, raising approximately HKD 99,883,000 for investments in the natural resources sector[72]. - The acquisition of Allied Properties Resources Limited was completed on August 13, 2021, for approximately HKD 102,582,000, gaining a 25.83% stake in Dragon Resources, which operates mining and processing facilities in Finland and Sweden[74]. - On March 18, 2022, the company completed the acquisition of Baoyun Limited for HKD 75,000,000, acquiring a 45% stake in Huaneng Shouguang Wind Power Co., Ltd., which focuses on wind power generation[75]. - The company holds approximately 19.83% of Prodigy Gold NL and plans to participate in a rights issue to raise up to AUD 11,650,000, with a potential subscription of approximately AUD 2,310,000[84]. Financial Position - As of June 30, 2022, the group's non-current assets were valued at HKD 2.39 billion, while current assets net value was HKD 1.69 billion[61]. - The group had borrowings of HKD 289.62 million as of June 30, 2022, compared to zero in the previous year[62]. - The company reported no significant capital commitments as of June 30, 2022, indicating a stable financial position[76]. - The fair value of investments in Mount Gibson and Metals X decreased to HKD 956,057,000 and HKD 246,730,000 respectively, due to stock price declines and currency depreciation[83]. Shareholder Returns - The company plans to distribute a final dividend of HKD 0.10 per share for the year, with a commitment to reassess its dividend policy based on economic forecasts[17]. - The proposed final dividend for the year ending June 30, 2022, is HKD 0.10 per share, consistent with the previous year's final and special dividends[115]. - As of June 30, 2022, the distributable reserves available for shareholders amount to HKD 892,656,000, a decrease from HKD 1,266,534,000 in the previous year[129]. Governance and Management - The company has a strong management team with extensive experience in finance and investment[104]. - The CFO has over 32 years of experience in finance and accounting within international enterprises and Hong Kong listed companies[104]. - The company has independent non-executive directors with significant backgrounds in banking and corporate finance[98][101]. - The company has established a strong governance structure with members from various financial and accounting associations[101][102]. - The independent directors have served on multiple listed companies, enhancing the company's credibility[98][101]. Risk Management - The company continues to monitor the impact of the COVID-19 pandemic on its financial position and operations, with no significant adverse effects reported for the fiscal year 2022[78]. - The company has implemented various measures to minimize risks associated with COVID-19 while ensuring business continuity[81]. - The board report includes a business review covering key risks and uncertainties faced by the group[119]. Compliance and Regulations - The company emphasizes compliance with applicable laws and regulations governing its business operations, including the Securities Listing Rules[124]. - The company has not entered into any equity-linked agreements during the year that would result in the issuance of shares[128]. - The company maintains sufficient public float as per the listing rules, ensuring compliance with regulatory requirements[191].
亚太资源(01104) - 2022 - 年度财报