华科智能投资(01140) - 2023 - 年度财报

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$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$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$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].