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Financial Results |
APAC Resources Limited (“APAC” or the “Company”) and its
subsidiaries (collectively, the “Group”) reported a net loss
attributable to shareholders of the Company of HK$275,329,000
for the six months ended 31 December 2021 (“1H FY2022”),
compared with a net profit attributable to shareholders of the
Company of HK$1,177,467,000 for the six months ended 31
December 2020 (“1H FY2021”). This loss includes two large
non-cash items that relate to an impairment loss in an
associate of HK$752,976,000 due to the fall in the value in
use of Mount Gibson Iron Limited (“Mount Gibson”), partially
offset by gains from change in fair value of HK$342,584,000
due to the strong share price of Metals X Limited (“Metals
X”). Excluding these non-cash items, we reported underlying
segment profit of HK$287,865,000, which was driven by strong
performance in our Resource Investment division where we
generated a segment profit of HK$212,830,000.
Primary Strategic Investments
Financial Assets at Fair Value through Profit or Loss
Resource Investment
Commodity Business
Principal
Investment and Financial Services
Money Lending
Liquidity, Financial Resources and Capital Structure
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As at 31 December 2021, our non-current assets amounted to
HK$2,568,937,000 (As at 30 June 2021: HK$2,755,862,000) and net
current assets amounted to HK$1,774,214,000 (As at 30 June 2021:
HK$2,076,671,000) with a current ratio of 5.2 times (As at 30
June 2021: 20.7 times) calculated on the basis of its current
assets over current liabilities. Included in non-current assets
and current assets are loan notes of HK$3,940,000 (As at 30 June
2021: HK$3,924,000) and loan receivables of HK$375,357,000 (As
at 30 June 2021: HK$493,850,000).
As at 31 December 2021, we had borrowings (excluding lease
liabilities) of HK$118,771,000 (As at 30 June 2021: Nil) and had
undrawn banking facilities amounting to HK$433,942,000 secured
against certain term deposits or trading securities of the Group
upon utilisation of such banking facilities. As at 31 December
2021, we had a gearing ratio of nil (As at 30 June 2021: 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.
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(update as of
28
February 2022) |
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