APAC Resources Limited (“APAC” or the “Company”) and its subsidiaries (collectively, the “Group”) reported a net profit attributable to shareholders of the Company of HK$593,272,000 for the six months ended 31 December 2023 (“1H FY2024”), compared with a net loss attributable to shareholders of the Company of HK$43,424,000 for the six months ended 31 December 2022 (“1H FY2023”). In 1H FY2024, the Group reported underlying segment profit of HK$301,758,000, driven by our Resource Investment and Commodity Business divisions, which generated segment profits of HK$237,951,000 and HK$69,373,000 respectively.

As at 31 December 2023, our non-current assets amounted to HK$2,041,542,000 (As at 30 June 2023: HK$2,025,899,000) and net current assets amounted to HK$2,055,950,000 (As at 30 June 2023: HK$1,569,339,000) with a current ratio of 6.1 times (As at 30 June 2023: 6.1 times) calculated on the basis of its current assets over current liabilities. Included in non-current assets and current assets are loan receivables of HK$193,885,000 (As at 30 June 2023: HK$346,074,000).

As at 31 December 2023, we had borrowings of HK$88,000,000 (excluding lease liabilities) (As at 30 June 2023: HK$183,240,000) and had undrawn letter of credit, bank and other loan facilities amounting to HK$517,909,000. As at 31 December 2023, we had a gearing ratio of nil (As at 30 June 2023: Nil), calculated on the basis of net debt over equity attributable to owners of the Company. For this purpose, net debt is defined as borrowings (excluding lease liabilities) less cash and cash equivalents.