Synagistics Limited — Interim / Quarterly Report 2024

Dec 28, 2023

Contents目錄

02	Corporate Information	公司資料
05	Management Discussion and Analysis	管理層討論及分析
36	Independent Review Report	獨立審閱報告
38	Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income	簡明綜合損益及其他全面收益表
40	Condensed Consolidated Statement of Financial Position	簡明綜合財務狀況表
42	Condensed Consolidated Statement of Changes in Equity	簡明綜合權益變動表
43	Condensed Consolidated Statement of Cash Flows	簡明綜合現金流量表
45	Notes to the Condensed Consolidated Financial Statements	簡明綜合財務報表附註

NOTICE OF CHANGE OF COMPANY NAMES

Since 28 August 2023, the English name of the Company has been changed from "Wealthking Investments Limited" to "Wealthink AI-Innovation Capital Limited", and "華科智能投資有限公司" has been adopted as the Chinese name of the Company. As some documents or information in this interim report was effective or applicable to the reporting period before the change of company name, Wealthink AI-Innovation Capital Limited, Wealthink AI, Wealthking Investments Limited and Wealthking Investments, in English and 華科智能投資有限公司, 華科智能投資, 華科資本有限公司 and 華 科資本in Chinese all refer to the Company in this interim report.

更改公司名稱通知

自二零二三年八月二十八日起,本公司的英文名稱已由「Wealthking Investments Limited」更改為「Wealthink AI-Innovation Capital Limited」,並採納「華科智能投資有限公司」為本公司的中文名稱。由於本中期報告中部分文件或 資料於更改公司名稱前的報告期間有效或適用,本中期報告的英文名稱Wealthink AI-Innovation Capital Limited、 Wealthink AI、Wealthking Investments Limited及Wealthking Investments以及中文名稱華科智能投資有限公司、華科 智能投資、華科資本有限公司及華科資本均指本公司。

CORPORATE INFORMATION 公司資料

BOARD OF DIRECTORS

Executive Director

Dr. LIU Zhiwei

Non-executive Directors

Dr. WANG Qin (Chairman) Dr. FU Weigang Dr. WANG Shibin

Independent Non-executive Directors

Mr. CHEN Yuming Mr. YAN Xiaotian Mr. ZHAO Kai

CHIEF EXECUTIVE OFFICER

Dr. QIAO Bingya

AUDIT COMMITTEE

Mr. CHEN Yuming (Chairman) Mr. YAN Xiaotian Mr. ZHAO Kai

REMUNERATION COMMITTEE

Mr. ZHAO Kai (Chairman) Mr. CHEN Yuming Mr. YAN Xiaotian

NOMINATION COMMITTEE

Dr. WANG Qin (Chairman) Mr. CHEN Yuming Mr. YAN Xiaotian Mr. ZHAO Kai

CORPORATE GOVERNANCE COMMITTEE

Mr. YAN Xiaotian (Chairman) Mr. CHEN Yuming Mr. ZHAO Kai

AUTHORIZED REPRESENTATIVES

Dr. LIU Zhiwei Ms. NG Sau Lai

董事會

執行董事

柳志偉博士

非執行董事

汪欽博士(主席) 傅蔚岡博士 王世斌博士

獨立非執行董事

陳玉明先生 閆曉田先生 趙凱先生

行政總裁

喬炳亞博士

審核委員會

陳玉明先生(主席) 閆曉田先生 趙凱先生

薪酬委員會

趙凱先生(主席) 陳玉明先生 閆曉田先生

提名委員會

汪欽博士(主席) 陳玉明先生 閆曉田先生 趙凱先生

企業管治委員會

閆曉田先生(主席) 陳玉明先生 趙凱先生

授權代表

柳志偉博士 伍秀麗女士

CORPORATE INFORMATION 公司資料

COMPANY SECRETARY

Ms. NG Sau Lai

INVESTOR RELATIONS CONTACT DETAILS

Tel: (852) 2842 9688 Fax: (852) 2842 9666 Email: ir@1140.com.hk

INVESTMENT MANAGER

Fortune Asset Management Limited

AUDITOR

ZHONGHUI ANDA CPA Limited 23/F, Tower 2, Enterprise Square Five 38 Wang Chiu Road Kowloon Bay, Kowloon Hong Kong

PRINCIPAL REGISTRAR

SMP Partners (Cayman) Limited Royal Bank House, 3rd Floor 24 Shedden Road, P.O. Box 1586 Grand Cayman KY1-1110 Cayman Islands

BRANCH REGISTRAR

Tricor Abacus Limited 17/F, Far East Finance Centre 16 Harcourt Road, Hong Kong

REGISTERED OFFICE

P.O. Box 309 Ugland House Grand Cayman, KY1-1104 Cayman Islands

公司秘書

伍秀麗女士

投資者關係聯絡資料

電話:(852) 2842 9688 傳真:(852) 2842 9666 電郵:ir@1140.com.hk

投資經理

富強資產管理有限公司

核數師

中匯安達會計師事務所有限公司 香港 九龍九龍灣 宏照道38號 企業廣場第五期2座23樓

主要股份登記處

SMP Partners (Cayman) Limited Royal Bank House, 3rd Floor 24 Shedden Road, P.O. Box 1586 Grand Cayman KY1-1110 Cayman Islands

股份登記分處

卓佳雅柏勤有限公司 香港夏慤道16號 遠東金融中心17樓

註冊辦事處

P.O. Box 309 Ugland House Grand Cayman, KY1-1104 Cayman Islands

CORPORATE INFORMATION 公司資料

PRINCIPAL PLACE OF BUSINESS

Room 3910–13, 39/F, COSCO Tower Grand Millennium Plaza 183 Queen's Road Central Hong Kong

PRINCIPAL BANKER

Shanghai Pudong Development Bank Co., Ltd. Hong Kong Branch China Guangfa Bank Co., Ltd. Hong Kong Branch Shanghai Commercial Bank Limited China Construction Bank Corporation Hong Kong Branch Hang Seng Bank Limited

STOCK CODE

The Stock Exchange of Hong Kong Limited Code: 1140

WEBSITE

www.1140.com.hk

主要營業地點

香港 皇后大道中183號 新紀元廣場 中遠大廈39樓3910–13室

主要往來銀行

上海浦東發展銀行股份有限公司香港分行 廣發銀行股份有限公司香港分行 上海商業銀行有限公司 中國建設銀行股份有限公司香港分行 恒生銀行有限公司

股份代號

香港聯合交易所有限公司 代號:1140

網址

www.1140.com.hk

WEALTHINK AI OVERVIEW

Wealthink AI-Innovation Capital Limited ("Wealthink AI") is a crossborder investor with a focus on China's fast-growing industries and the best investment opportunities. We believe that a long-term investment perspective is a critical enabler of value creation. The integration of industry, technology and financial capital has become an irresistible trend, which is propelling new industrial revolutions. Our mission is to identify great companies and enhance their performance through providing patient capital and strong support to the excellent management teams.

We leverage our capital strength to invest in targeted companies. Our investment strategy is comprised of three pillars, namely core-holdingcentered private equity, portfolio management as well as trading and others, with returns generated from interests, dividends and capital appreciation.

INVESTMENT REVIEW

Investment Activities

From the beginning of this year, downward pressure on China's economy still exists. The continued decline in the RMB exchange rate and the weak performance of the capital markets in mainland China and Hong Kong have brought certain challenges to our investment business and post-investment management. Confronted by the complex macro environment, Wealthink AI has relied on its flexibility to make adjustment on its investment strategy by increasing the fixedincome investments and interest investment in portfolio management category to create more stable returns for the Group. In addition, under the complex and ever-changing economic situation, we are also striving to identify certain industrial trends and fix our attention to the emerging technology fields while continuing to strengthen strategic execution in the technology field.

華科智能投資概覽

華科智能投資有限公司(「華科智能投資」)為 一間專注於中國高增長行業投資機會的跨境 投資公司。我們認為,長遠的投資眼光為創 造價值的關鍵所在。產業、科技與金融資本 的結合是大勢所趨,將推動新的產業革命。 我們的使命是發掘優秀公司,通過提供長期 資本以及支持其出色的管理團隊,來增強被 投資公司的業績表現。

我們憑藉自身資本實力對目標公司進行投資。 我們的投資策略由三個部分組成,即以核心 持股為中心的私募股權、投資組合管理以及 交易及其他,回報乃來自利息、股息及資本 增值。

投資回顧

投資活動

今年以來,中國經濟下行的壓力依然存在。 人民幣匯率持續下滑、中國內地和香港資本 市場表現疲弱,這一系列因素為我們的投資 業務和投後管理帶來一定的挑戰。面對複雜 的宏觀環境,華科智能投資靈活調整投資策 略,通過加大投資組合管理類別的固收類和 收益類投資,為本集團創造更多穩健回報。 此外,我們亦在複雜多變的經濟形勢中尋找 確定的產業趨勢,將投資視野聚焦於新興科 技領域,持續強化在科技領域的戰略執行。

During the Period, we exercised extra prudence on new equity investments and strove for the maximum value of our capital and the financing capability as a public company. Our investment and divestment decisions are made based on comprehensive considerations and assessments of return, risk and opportunity cost. We invested HK3,498.46 million during the Period, mainly through private equity, debt investments, funds as well as listed securities, and our divestment amounted to HK\$3,299.32 million, mainly derived from listed securities, funds, private equity investments and debt investments.

Portfolio Breakdown

To quickly adapt to the changes and seize the opportunities, in the FY2020/2021, we underwent a business transformation and strategic upgrade. During the Period, our investment strategy is comprised of three pillars, namely core-holding-centered private equity, portfolio management as well as trading and others.

Private equity strategy aims to leverage our capital to directly invest in and empower exceptional companies, and long-term core holding is our primary focus. We identify and invest in companies with high growth potential and hold them as core-holding portfolio supporting their long-term development with patient capital. Portfolio management strategy represents our medium- to long-term investment in the secondary market, fixed-income investment and others which are expected to contribute medium-term returns to the Group. The strategy of trading and others stress to balance liquidity and rate of return of the asset by capturing short-term investment opportunities and other opportunistic transactions in the secondary market in and outside China.

As of 30 September 2023, the four main sectors of our existing portfolio were Fixed-Income, Smart Education, Technology, Media and Telecom ("TMT") and Fintech, which represented 75.60% of our total investments holdings. In terms of valuation, in the Fixed-Income sector, Hong Kong Nanshan Development Ltd 7.5% 23-05-2024 (the "Nanshan Bonds") was the largest investment. In Smart Education Sector, 四川鴻鵠志遠教育管理集團有限公司 ("鴻鵠教育") was the largest investment while our major investment in the TMT sector included 青島萬峰時代領航股權投資中心 ("時代領航基金"). Our major investment in the Fintech sector was Jiedaibao Limited ("Jiedaibao").

於本期間,我們對新增股權投資採取更為審 慎的態度,並致力於實現作為上市公司所擁 有的資本及融資能力之最大價值。我們根據 回報、風險及機會成本的綜合考慮及評估以 決定投資及退出投資。於本期間,我們主要 通過私募股權、債務投資、基金及上市證券 投資港幣34.9846億元,而港幣32.9932億元 的退出投資主要源於上市證券、基金、私募 股權投資及債務投資。

投資組合明細

為迅速適應變化並把握機會,二零二零╱二 零二一財年我們進行了業務轉型及戰略升級。 於本期間,我們的投資策略由三個部分組成, 即以核心持股為中心的私募股權、投資組合 管理以及交易及其他。

私募股權策略旨在利用自有資本進行直接投 資,賦能優質企業,其中長期核心持股仍是 我們的首要重點。我們物色並投資具有高增 長潛力的公司並持有作為核心持股投資組合, 以提供長期資本支持其長期發展。投資組合 管理策略代表我們在二級市場的中長期投資、 固定收益投資及其他,預期為本集團帶來中 期回報。交易及其他策略則著重捕捉中國境 內外二級市場的短期投資機會及其他機會性 交易,平衡資產的流動性及回報率。

截至二零二三年九月三十日,我們現有投資 組合的四大主要領域分別為固定收益、智慧 教育、技術、媒體和電信(「技術、媒體和電 信」),以及金融科技,佔我們投資持倉總額 75.60%。就估值而言,於固定收益領域, Hong Kong Nanshan Development Ltd. 7.5% 23-05-2024(「南山債券」)為最大投資,於智 慧教育領域,四川鴻鵠志遠教育管理集團有 限公司(「鴻鵠教育」)為最大投資。而我們於 技術、媒體和電信領域的主要投資包括青島 萬峰時代領航股權投資中心(「時代領航基 金」)。我們於金融科技領域的主要投資為借 貸寶有限公司(「借貸寶」)。

3.65% 30.43% 13.08% 36.72% 16.12% <1 year >5 years 2–3 years 3–5 years 1–2 years 一至兩年 少於一年 大於五年 兩至三年 三至五年

MAJOR INVESTMENT PORTFOLIO

Private Equity

Private equity represents equity investment in private companies through our own capital to support its long-term development. We mainly divide private equity into two categories, namely long-term core holding and other private equity. As of 30 September 2023, Wealthink AI's holdings in private equity category amounted to HK\$3,727.87 million.

Long-Term Core Holding

As of 30 September 2023, three companies were categorized as our long- term core holding portfolio, namely iCarbonX, CSOP and OPIM Holdings Limited ("OPIM"). iCarbonX primarily focuses on digital health management, CSOP is the largest Qualified Foreign Institutional Investor ("RQFII") manager globally, and OPIM is Asia's leading hedge fund platform. Wealthink AI's holdings in the core holding companies amounted to HK\$1,082.29 million as at 30 September 2023. Given the growth potential of the core holding companies, Wealthink AI will continue to hold them and support their development in the long run while pursuing long-term investment return correspondingly.

主要投資組合

私募股權

私募股權指透過自有資金對私營企業進行股 權投資,以支持其長期發展。我們主要將私 募股權分為兩類,即長期核心持股及其他私 募股權。截至二零二三年九月三十日,華科 智能投資於私募股權類別的持倉額達港幣 37.2787億元。

長期核心持股

截至二零二三年九月三十日,碳雲智能、南 方東英及OPIM Holdings Limited(「東英資管」) 三間公司獲分類為我們的長期核心持股投資 組合。碳雲智能主要專注於數字健康管理, 南方東英為全球最大的合格境外機構投資者 (「RQFII」)管理公司,而東英資管則為亞洲領 先的對沖基金平台。於二零二三年九月三十 日,華科智能投資於核心持股公司的持倉額 達港幣10.8229億元。鑒於核心持股公司的增 長潛力,華科智能投資將繼續持有該等公司 以支持其長期發展,並相應地追求長期投資 回報。

iCarbonX Group Limited

Date of initial investment: 2018 Type of deal: Core Holding Equity ownership: 7.73% Cost: HK\$1,098.79 million Carrying value: HK\$911.34 million Location: China Sector: Medical & Health

In 2018, Wealthink AI invested in iCarbonX as one of its core holding companies and established a joint venture with iCarbonX named iCarbonX OP Investment Limited to capture potential investment opportunities within the healthcare industry. As at 30 September 2023, the Group owned 7.73% of equity interests in iCarbonX and the carrying value of the position stood at HK\$911.34 million.

iCarbonX is a global pioneer in artificial intelligence ("AI") and precision health management and aims to build an ecosystem of digital life based on a combination of individuals' life data, the internet and AI. Its main founding team comprises the world's top biologists with extensive experience in multi-omics technology, medical service, biological data analysis, AI and data mining.

In 2022, under the vision of continuing the construction of Digital Life ecosystem, iCarbonX continues to focus on business direction. Focusing on the unique peptide chip, which is a bias-free protein binding technology, iCarbonX will focus on the development of peptide drugs, in vitro diagnostics, smart chip manufacturing, medical and technology services in the future.

Wealthink AI believes iCarbonX's expertise in life science and AI equips the Group with unparalleled competitive advantages, particularly in an era of post-COVID-19, when AI-enabled healthcare research & development (R&D) is given significant prominence and people's awareness of health management improves. Going forward, the Group will continue to take an active role in bridging opportunities between iCarbonX and industry leaders to foster its development within the healthcare industry and attain capital appreciation. The investment in iCarbonX is believed to benefit Wealthink AI over the long run, therefore iCarbonX is held as a longterm core holding company within Wealthink AI's portfolio.

碳雲智能集團有限公司

初始投資日期:二零一八年 投資類別:核心持股 擁有權益:7.73% 成本:港幣10.9879億元 賬面值:港幣9.1134億元 地點:中國 領域:醫療與健康

於二零一八年,華科智能投資投資碳雲智能 作為其核心持股公司之一,並與碳雲智能成 立一間名為碳雲東英投資有限公司的合營企 業,以把握健康產業的潛在投資機會。於二 零二三年九月三十日,本集團擁有碳雲智能 7.73%之股權,持倉額賬面值為港幣9.1134 億元。

碳雲智能是全球人工智能(「人工智能」)及精 準健康管理領域的引領者,圍繞個人的生命 大數據、互聯網和人工智能創建數字生命的 生態系統。公司主要創始團隊由全球頂尖生 物學家組成,在多組學技術、醫療服務、生 物數據分析、人工智能及數據挖掘領域具有 豐富經驗。

二零二二年,碳雲智能在延續數位生命生態 系統構建的願景下,繼續對業務方向進行聚 焦。著眼於獨有的多肽芯片這個無偏差解析 蛋白結合的技術,碳雲智能未來將重點發展 多肽藥物、體外診斷、晶片智造、醫學和科 技服務。

華科智能投資認為,碳雲智能於生命科學及 人工智能方面的專業知識使本集團具備無可 比擬的競爭優勢,特別是於後2019冠狀病毒 期間,人工智能驅動之醫療研發(研發)極受 重視及人們健康管理意識提高。展望前景, 本集團將繼續積極促進碳雲智能與行業領袖 的對接機會,以推動其於健康產業的發展及 實現資本增值。於碳雲智能的投資相信將使 華科智能投資長期受惠,因此碳雲智能於華 科智能投資投資組合中作為長期核心持股公 司持有。

CSOP Asset Management Limited

Date of initial investment: 2008 Type of deal: Core Holding Equity ownership: 22.5% Cost: HK\$60 million Carrying value: HK\$139.95 million Location: Hong Kong Sector: Financial Services

CSOP was jointly established by Wealthink AI and China Southern Asset Management Co., Ltd in 2008. As at 30 September 2023, Wealthink AI owned 22.5% of the issued capital of CSOP, of which the carrying value stood at HK\$139.95 million, increasing 26.86% or HK\$29.63 million, as compared to HK\$110.32 million as at 31 March 2023, such change is due to robust business performance during the period.

CSOP is a well-known asset management company based in Hong Kong, which manages private and public funds, and provides investment advisory services to Asian and global investors with a dedicated focus on China investing. As a leading cross-border asset management expert in respect of Asset Under Management ("AUM"), CSOP is committed to providing investors with a flexible and efficient asset allocation tool through simple, transparent, and innovative products. As of December 2022, the scale of asset management of CSOP exceeded US\$12.6 billion.

CSOP has performed particularly well in issuing and innovating ETFs, and has demonstrated its competitiveness in the market. Among the top 10 most actively traded ETPs listed on the Hong Kong Stock Exchange, CSOP's products account for six of them. In addition, among all Hong Kong Leveraged and Inverse Products, CSOP's Leveraged and Inverse Products have a market share of over 96.6% in terms of size and 99.3% in terms of average daily turnover.

南方東英資產管理有限公司

初始投資日期:二零零八年 投資類別:核心持股 擁有權益:22.5% 成本:港幣6,000萬元 賬面值:港幣1.3995億元 地點:香港 領域:金融服務

南方東英由華科智能投資與南方基金管理股 份有限公司於二零零八年聯合成立。於二零 二三年九月三十日,華科智能投資擁有南方 東 英 已 發 行 股 本 的 22.5%,賬 面 值 為 港 幣 1.3995億元,較二零二三年三月三十一日的 港幣1.1032億元增加26.86%或港幣2,963萬 元,有關增長是由於南方東英於期內業績表 現持續強勁。

南方東英為一間香港知名的資產管理公司, 管理私募及公共基金,並為專注於中國投資 的亞洲及全球投資者提供投資顧問服務。作 為資產管理(「資產管理」)領域領先的跨境資 產管理專家,南方東英致力於用簡單、透明、 創新的產品,為投資者提供靈活高效的資產 配置工具。截至二零二二年十二月,南方東 英的資產管理規模超過126億美元。

南方東英在ETF發行及創新方面的表現尤為突 出,並在市場中展現出競爭力。在港交所上 市的前10名交易最活躍的ETP中,南方東英 發行的產品佔據六席。此外,在香港所有的 槓桿及反向產品中,南方東英的槓桿及反向 產品規模市佔率超過96.6%,日均成交額市 佔率超過99.3%。

CSOP have launched a total of seven new products in Hong Kong in 2022, including the first Metaverse Concept ETF in Hong Kong, the first Bitcoin Futures ETF in Asia and the first Ether Futures ETF in the world, which help investors capture multiple market opportunities. Meanwhile, CSOP became one of the first companies to participate in the mutualisation of ETF products between the Singapore Exchange (SGX) and the Shenzhen Stock Exchange (SZSE). Under the Shenzhen-Singapore ETF Product Interoperability Programme, the CSOP CSI STAR AND CHINEXT 50 INDEX ETF was listed on the Singapore Exchange on 30 December 2022.

Thanks to its excellent product design and strong performance, CSOP has won many awards in total from various parties at both corporate and product levels, including but not limited to the "Asia Fund House of the Year" and "Fund House of the Year" by AsianInvestor, which is a authoritative asset management magazine in Asia, this is also the first time that a Chinese asset manager has won "Asia Fund House of the Year" since the establishment of the awards.

China has been accelerating the reforms and opening-up of its financial market in recent years and it is one of the most attractive investment destinations for international investors. CSOP will continue to bridge investment opportunities in China for overseas investors with its innovative fund products and expertise, achieving decent returns for investors and at the same time enhancing its leading position in the RQFII product management sector. Wealthink AI believes that CSOP will continue to bring solid returns and therefore will hold it as a long-term core holding company.

南方東英於二零二二年在香港共推出七隻新 產品,包括香港首隻元宇宙概念ETF、亞洲首 隻比特幣期貨ETF、全球首隻太幣期貨ETF等, 助力投資者把握多方市場機會。同時,南方 東英成為首批參與新加坡交易所(SGX)和深圳 證券交易所(SZSE) ETF產品互通的公司。在深 新ETF產品互通計劃下,南方東英南方中證科 創創業50指數ETF於二零二二年十二月三十 日在新加坡交易所上市。

憑藉其優秀的產品設計及強勁表現,南方東 英榮獲多個企業和產品層面的獎項,包括但 不 限 於 獲 亞 洲 權 威 資 產 管 理 雜 誌 《AsianInvestor》(《亞洲投資人》月刊)頒發的 「亞洲年度基金公司」大獎和「年度基金公司」 大獎,這亦是該獎項設立以來中資基金公司 首次獲得「亞洲年度基金公司」大獎。

中國近年來一直加快改革和開放其金融市場, 對於國際投資者來說,中國為最具吸引力的 投資地之一。南方東英將繼續憑藉創新的基 金產品和專業技能,為海外投資者對接中國 投資機會,在為投資者創造可觀回報的同時, 持續鞏固其自身在RQFII產品管理領域的領導 地位。華科智能投資相信南方東英將繼續帶 來穩健回報,因此會將其作為核心持股公司 長期持有。

OPIM Holdings Limited

Date of initial investment: 2008 Type of deal: Core Holding Equity ownership: 30% Cost: HK\$59.47 million Carrying value: HK\$31.00 million Location: Hong Kong Sector: Financial Services

As at 30 September 2023, Wealthink AI owned 30% of the issued ordinary shares and 100% of the non-voting preference shares of OPIM, the position of the Group in OPIM stood at HK\$31.00 million. OPIM managed over 35 funds as at the end of 2022, and the scale of fund managed was over US\$1.5 billion.

OPIM is a leading hedge fund platform in Asia serving both global and Asia based managers to develop funds across diversified strategies for institutional and professional investors. It has built a whole ecosystem linking up fund managers, service providers and capital allocators, which enables the managers to launch offshore funds with efficient and affordable structures. With the ecosystem, managers are able to focus on fund performance and build a proven track record for future expansion. OPIM has also built strategic partnerships in Singapore, Europe and Mainland China to continue to increase its customer base and expand the scope of its service offerings to customers.

With the increasing scale of China's private funds in the overseas market, OPIM is expected to maintain the momentum of steady growth in terms of both the number of funds and the overall asset scale. At the same time, China has been accelerating the opening-up of its financial markets, which improves foreign managers' access to the Chinese market and as a result, OPIM is expected to benefit from it. Wealthink AI believes that OPIM has great potential to continue to grow its business, and therefore will hold it as a long- term core holding company.

OPIM Holdings Limited

初始投資日期:二零零八年 投資類別:核心持股 擁有權益:30% 成本:港幣5,947萬元 賬面值:港幣3,100萬元 地點:香港 領域:金融服務

於二零二三年九月三十日,華科智能投資擁 有東英資管30%已發行普通股及100%無表 決權優先股,本集團於東英資管的持倉額為 港幣3,100萬元。東英資管於二零二二年底管 理超過35隻基金,管理基金規模超過15億美 元。

東英資管為亞洲領先的對沖基金平台,服務 全球及亞洲基金經理,為機構及專業投資者 開發多元化策略基金。東英資管打造出一套 完整的生態系統連接基金經理、服務供應商 及基金投資人,使基金經理能透過快捷實惠 之基金架構發行離岸基金。該生態系統使基 金經理能專注基金表現,從而為未來擴展建 立良好的往績記錄。東英資管亦已在新加坡、 歐洲及中國內地建立戰略夥伴關係以持續擴 大其客戶基礎及為客戶提供服務的範圍。

隨著中國私募基金走向海外市場的規模不斷 擴大,預期東英資管將在基金數量及整體資 產規模方面保持穩定增長的勢頭。與此同時, 中國一直在加快開放其金融市場,改善外資 管理人進入中國市場,因此,預計東英資管 將能從中獲益。華科智能投資相信東英資管 的業務具有很大的持續增長潛力,因此將其 作為核心持股公司長期持有。

Other Private Equity

Apart from long-term core holding, Wealthink AI's holdings in the Other Private Equity category amounted to HK\$2,645.58 million as at 30 September 2023. The Group made no new investment and divested HK\$156.79 million during the Period. In making decisions on either to maintain the holdings for future divestment to benefit from growth of business, or to exit and harvest returns for potential new investments, the Group based on prudent and extensive analysis of market condition and investment projects' prospect.

The major investments are listed as below:

Jiedaibao Limited

Date of initial investment: 2020 Type of deal: Private Equity Equity ownership: 2.49% Cost: HK\$900.39 million Carrying value: HK\$971.42 million Location: China Sector: Fintech

In 2020, Wealthink AI entered into a share purchase agreement with an existing shareholder of Jiedaibao to purchase 1.97% of the shares issued by Jiedaibao at a consideration of HK\$700 million. Wealthink AI subsequently increased its capital by HK\$200.39 million in November 2021. As at 30 September 2023, the Group's position in Jiedaibao stood at HK\$971.42 million, representing 2.49% of the shares issued by Jiedaibao.

其他私募股權

除長期核心持股外,於二零二三年九月三十 日,華科智能投資於其他私募股權類別的持 倉額達港幣26.4558億元。於本期間,本集團 並無作出新投資,退出投資為港幣1.5679億 元。於決定維持持倉待未來退出投資,以從 業務增長中獲益,或退出投資收穫回報,以 備潛在新投資所用時,本集團按照對市況及 投資項目的前景作出審慎而全面的分析並作 出決定。

主要投資列示如下:

借貸寶有限公司

初始投資日期:二零二零年 投資類別:私募股權 擁有權益:2.49% 成本:港幣9.0039億元 賬面值:港幣9.7142億元 地點:中國 領域:金融科技

於二零二零年,華科智能投資與借貸寶現有 股東訂立購股協議,以代價港幣7億元購買 借貸寶之1.97%已發行股份,其後華科智能 投資於二零二一年十一月增資港幣2.0039億 元。於二零二三年九月三十日,本集團於借 貸寶的持倉額為港幣9.7142億元,佔借貸寶 之2.49%已發行股份。

Founded in 2014, Jiedaibao is an internet fintech company providing services of contract signing, registration and post-loan management for borrowing and lending money between individual users and supply chain finance of corporate users, aiming to solve the financing difficulty problem for individuals as well as micro-, small and mediumsized enterprises ("SME"). Jiedaibao strives to be the largest service platform for individual borrowings and corporate supply chain finance in China. The mobile App 借貸寶 ("借貸寶"), which is operated by Jiedaibao, mainly provides registration tools for online I Owe You ("IOU") issuance and supplementing and relevant value-added services. Adopting AI visual technology, a sound cloud storage system and online payment system, 借貸寶 empowers online borrowing and lending transactions and micro-SME's supply chain finance. The sources of revenue are mainly coming from registration service fee, collection service fee, marketing fee, certification service fee, software development fee and loan interests, etc.

By right of the universality of its function and the business model, 借 貸寶 has gained significant market share in Mainland China since its launch several years ago. With licenses of online payment, commercial banking and internet microloans, Jiedaibao is building a complete Fintech ecosystem. Wealthink AI expects the continuously growing business of Jiedaibao would generate considerable medium- term return for the Group.

上海恒嘉美聯發展有限公司( "恒嘉美聯")

Date of initial investment: 2022 Type of deal: Private Equity Equity ownership: 14.9% Cost: HK\$450 million Carrying value: HK\$420.50 million Location: China Sector: Others

借貸寶成立於二零一四年,是一家互聯網金 融科技公司,為個人間借貸和企業間供應鏈 金融提供簽約、登記和貸後管理服務,旨在 解決個人和中小微企業(「中小企」)融資難問 題。借貸寶致力成為中國最大的個人借貸和 企業供應鏈融資服務平台。其運營的移動端 APP借貸寶(「借貸寶」)主要提供I Owe You (「IOU」)線上打借條、補欠條等登記類工具 及相關增值服務。借貸寶結合人工智能視覺 技術,配套完善的雲儲存系統和互聯網支付 體系,為線上借貸交易及中小微企業供應鏈 金融賦能。其收益來源主要包括登記服務費、 清收服務費、營銷費用、認證服務費、軟件 開發費用和貸款利息等。

借貸寶經過多年的持續運營,憑藉其產品功 能的普適性和良好的商業模式,已佔有中國 內地可觀的市場份額。借貸寶整合互聯網支 付、商業銀行、互聯網小貸等牌照,正逐步 構建一個完整的金融科技生態體,華科智能 投資預計借貸寶不斷增長的業務規模,會為 本集團帶來可觀的中期回報。

上海恒嘉美聯發展有限公司(「恒嘉美聯」)

初始投資日期:二零二二年 投資類別:私募股權 擁有權益:14.9% 成本:港幣4.5億元 賬面值:港幣4.2050億元 地點:中國 領域:其他

Metaqi Capital Limited, a wholly-owned subsidiary of Wealthink AI, entered into a capital injection agreement with 恒嘉美聯, with a commitment to a capital contribution of HK\$600 million to acquire 19.9% of equity interest in 恒嘉美聯. As at 30 September 2023, the capital injection has reached HK\$450 million, representing 14.9% of equity interest in 恒嘉美聯.

恒嘉美聯 established in 1999, is a comprehensive group mainly engaged in equity investment, property investment and commodity trading. 恒嘉美聯 focuses on equity investment in financial services and currently holds equity interest in more than ten companies, including 長安基金管理公司 and Yingkou Coastal Bank, all of which have achieved different degrees of increase in value. 恒嘉美聯 also further improves its asset allocation through property investment and international commodity trading business, which are operating well and continue to generate stable income.

Over the past 20 years since its establishment, 恒 嘉 美 聯 has accumulated substantial investment experience and industrial layout capabilities in the fields of finance, property and commodities. With the rapid development of the Chinese economy driven by economic globalization, the Group believes that under the background of further liberalization of the financial market, 恒嘉美聯 will usher in new development opportunities, which is expected to bring mediumterm returns to the Group.

Portfolio Management

As at 30 September 2023, Wealthink AI's holdings in the portfolio management category amounted to approximately HK\$7,029.28 million. Wealthink AI holds listed securities included in this category amounted to HK\$11.58 million, debt investments amounted to HK\$3,591.50 million, fund investments amounted to HK\$1,721.34 million and economic interest investment amounted to HK\$1,704.86 million. The Group added investments of HK\$3,482.05 million and exited from listed securities, fund investments, and debt investments amounting to HK\$3,139.09 million in total in this category during the Period. At the same time, our portfolio of debt instruments recorded provision for expected credit losses under HKFRS 9, while some listed securities recorded market price changes during the Period.

華科智能投資全資附屬公司Metaqi Capital Limited與恒嘉美聯訂立增資協議,承諾出資 港幣6億元收購恒嘉美聯的19.9%股權。於 二零二三年九月三十日,注資款達港幣4.5億 元,佔恒嘉美聯的14.9%股權。

恒嘉美聯成立於一九九九年,是一家以股權 投資、物業投資以及大宗商品貿易為主業的 綜合型集團。恒嘉美聯專注於金融服務類股 權投資,目前持有長安基金管理公司、營口 沿海銀行等十餘家公司股權,均實現不同程 度的增值。恒嘉美聯亦通過物業投資和國際 商品貿易業務進一步完善資產配置,兩大業 務板塊運營情況良好並持續產生穩定收益。

恒嘉美聯成立20多年來,在金融、物業、商 品領域積累了豐富的投資經驗和產業佈局能 力。經濟全球化推動中國經濟快速發展,本 集團相信在金融市場進一步開放的大背景下, 恒嘉美聯將迎來新的發展機遇,預期將為本 集團帶來中期回報。

投資組合管理

於二零二三年九月三十日,華科智能投資於 投資組合管理類別的持倉額達港幣70.2928 億元。華科智能投資持有計入該類別的上市 證 券 達 港 幣 1,158 萬 元,債 務 投 資 達 港 幣 35.9150億元,基金投資達港幣17.2134億 元,而收益權投資達港幣17.0486億元。於本 期間,本集團於此類別新增投資港幣34.8205 億元,退出上市證券、基金投資及投資合共 港幣31.3909億元。同時,我們的債務工具投 資組合根據香港財務報告準則第9號錄得預 期信貸虧損撥備,而於本期間部分上市證券 的市價出現了變動。

The Group invests in instruments with the consideration of return, risk and liquidity. For the Period, the interest rate we charged for the instruments, of which the borrowers were mainly investment companies, ranged from 7% to 10% as compared to 6% to 10% for the same period last year. The total interest income generated from instruments was HK\$147.09 million with loan tenures ranging from 270 days to 2 years, while the corresponding amount and range for the same period last year were HK\$84.61 million and 1 year to 5 years, respectively.

Wealthink AI maintains regular communication with bond issuers and loan borrowers. As at the end of the Period, management have assessed the repayment ability of the issuers/borrowers for the determination of expected credit loss provisions.

The major investments are listed as below:

四川鴻鵠志遠教育管理集團有限公司

Date of initial investment: 2023 Type of deal: Economic interest Cost: HK\$1,704.86 million Carrying value: HK\$1,704.86 million Location: China Sector: Smart Education

Wealthink AI acquired an economic interest in 29.99% of the equity of 鴻鵠教育. Such economic interest comprises entitlement to dividend and a call option to acquire up to 29.99% of the equity of 鴻鵠教育. 鴻鵠教育 focuses on the operation of private high schools, aiming to provide inclusive and high-quality high school education services for students through technology. The first school, 鴻鵠高級中學 in Dazhou City, Sichuan Province, has officially opened in early June 2021. Currently there are three campuses in Dazhou, Ziyang and Chengdu. 鴻 鵠 教 育 adopts the "RAIC (Ruike) model" , which includes dual-classes with video lessons and guidance from famous teachers, the artificial intelligence feedback training system, and the innovative model of customised teaching by precise division of disciplines, to provide students with highly personalised and highquality education experience. As at 30 September 2023, the Group's holdings in 鴻鵠教育 amounted to HK\$ 1,704.86 million.

本集團基於回報、風險及流動性的考慮做出 投資決策。於本期間,我們就借款人主要為 投 資 公 司 之 債 務 投 資 收 取 利 率 介 乎 7% 至 10%,去年同期則介乎6%至10%。債務投 資所得利息收入總額為港幣1.4709億元,貸 款期介乎270日至2年,而去年同期相應金額 及範圍分別為港幣8,461萬元及介乎1年至5 年。

華科智能投資與債券發行人及貸款借貸人保 持定期聯繫。於本期間結束時,管理層已就 釐定預期信貸虧損撥備評估發行人╱借貸人 之還款能力。

主要投資列示如下:

四川鴻鵠志遠教育管理集團有限公司

初始投資日期:二零二三年 投資類別:收益權 成本:港幣17.0486億元 賬面值:港幣17.0486億元 地點:中國 領域:智慧教育

華科智能投資收購鴻鵠教育29.99%股權的收 益權。有關收益權包括收取股息權利及收購 鴻鵠教育最多29.99%股權的認購期權。鴻鵠 教育以高中民辦學校運營為核心業務,旨在 通過科技為廣大學生提供普惠、高品質的高 中教育服務。第一所學校四川省達州市鴻鵠 高級中學已經於二零二一年六月初正式開學, 目前在達州、資陽和成都三個地方設有校區。 鴻鵠教育採用「RAIC(睿課)模式」,包括名師 錄課與指導下的雙師課堂、人工智能反饋訓 練系統以及精準分科分層的因材施教創新模 式,為學生提供高度個性化和高質量的教育 體驗。於二零二三年九月三十日,本集團於 鴻鵠教育的持倉額為港幣17.0486億元。

鴻鵠教育 has a sound and efficient organisational system supported by its core research and development department, including 鴻鵠教育 科學研究院 and 鴻鵠教育智能資訊中心, and has set up various functional departments such as the Group's operation centre, course service centre and teaching quality monitoring centre. 鴻鵠教育科學 研究院 is committed to the research and development of teaching content. With a team of highly educated and experienced teaching and research personnel, it produces high-quality teaching courseware and designs teaching plans. 鴻鵠教育智能信息中心 is responsible for the implementation of technology empowerment, accurately matching teaching resources through big data and multi-dimensional analysis of data, and using artificial intelligence system to conduct accurate analysis of wrong questions and push personalised review plans.

The business model of 鴻鵠教育 has grasped the future trend, closely integrated technology with teaching, and has a mature smart classroom model, which provides a competitive advantage for future development. With its excellent technology and R&D team, its business model has passed a small-scale test and will soon enter the stage of large-scale commercial implementation, showing high development potential. The Group believes that with the combination of technological strengths and excellent management capabilities, 鴻鵠教 育 can expand its campus to different regions in an efficient manner, which is expected to bring medium-term returns to the Group.

Hong Kong Nanshan Development Ltd 7.5% 23-05-2024

Date of initial investment: 2023 Type of deal: Bond Cost: HK\$975 million Carrying value: HK\$973.79 million Location: Hong Kong Sector: Fixed-Income

On 25 May 2023, 30 May 2023, 5 June 2023 and 8 June 2023, Wealthink AI, through its wholly-owned subsidiary, subscribed the Nanshan Bonds in the r espec ti ve princ ipal amounts of HK\$197,000,000, HK\$197,000,000, HK\$330,000,000 and HK\$251,000,000. The Nanshan Bonds bear interest at the rate of 7.5% per annum and will mature on 24 May 2024. The issuer is Hong Kong Nanshan Development Limited ("Nanshan Development") and the guarantor is Nanshan Group Co., Ltd ("Nanshan Group").

鴻鵠教育具備完善且高效的組織體系,以其 核心研發部門包括鴻鵠教育科學研究院和鴻 鵠教育智能資訊中心為支撐,同時設立了集 團運營中心、課程服務中心、教學品質監測 中心等多個職能部門。鴻鵠教育科學研究院 致力於教學內容的研發,擁有高學歷和豐富 經驗的教研團隊,製作高質量教學課件以及 設計教學方案。鴻鵠教育智能信息中心則負 責實現科技手段賦能工作,通過大數據和多 維度分析數據,精準匹配教學資源,以及使 用人工智能系統針對錯題進行精準分析和推 送個性化複習方案。

鴻鵠教育的商業模式把握未來趨勢,將科技 與教學緊密融合,擁有成熟的智慧課堂模式, 為未來發展提供了競爭優勢。憑借優秀的技 術和研發團隊,其商業模式已經通過小範圍 測試,即將進入大規模商業落地的階段,展 現出較高的發展潛力。本集團相信,結合科 技力量和卓越管理能力,鴻鵠教育能夠以高 效的方式將校區擴展至不同地區,預期為本 集團帶來中期回報。

Hong Kong Nanshan Development Ltd 7.5% 23-05-2024

初始投資日期:二零二三年 投資類別:債券 成本:港幣9.75億元 賬面值:港幣9.7379億元 地點:香港 領域:固定收益

於二零二三年五月二十五日、二零二三年五 月三十日、二零二三年六月五日及二零二三 年六月八日,華科智能投資透過其全資附屬 公 司 認 購 南 山 債 券,本 金 額 分 別 為 港 幣 197,000,000元、港幣197,000,000元、港幣 330,000,000元及港幣251,000,000元。南山 債券票面利息為每年7.5%,於二零二四年五 月 二 十 四 日 到 期,發 行 人 是 Hong Kong Nanshan Development Limited(「 Nanshan Development」),擔保人是南山集團有限公 司(「南山集團」)。

The long-term credit rating of Nanshan Group was granted an "AAA" by China Lianhe Credit Rating Co., Ltd in 2022. As at 30 September 2023, the Group's position in Nanshan Bonds amounted to HK\$973.79 million.

Founded in 1979, Nanshan Group has formed a multi-industry development pattern led by Nanshan Aluminum, 南山智尚, Yulong Petrochemical, logistics, finance, education, tourism, technology, and healthcare after years of development. As a large-scale integrated group enterprise focusing on aluminum further fabrication in China, Nanshan Group has significant advantages in terms of industry status, completeness of the industrial chain, research and development strength and capacity utilisation level. Nanshan Group is the controlling shareholder of three listed companies, including Shandong Nanshan Aluminum Co., Ltd. (600219.SH), Shandong Nanshan Fashion Sci-tech Co., Ltd (300918.SZ) and Hengtong Logistics Co., Ltd. (603223.AS). The Group believes that the interest rate of Nanshan Bonds is generally higher than the time deposit interest rate offered by well-known financial institutions in Hong Kong, which will enable the Group to obtain stable returns in the current turbulent economic environment.

青島萬峰時代領航股權投資中心

Date of initial investment: 2022 Type of deal: Fund Cost: HK\$803.08 million Carrying value: HK\$758.87 million Location: China Sector: TMT

In September 2022, Wealthink AI entered into a partnership agreement with 北京泰合萬峰投資管理有限公司 through its whollyowned subsidiary, in order to subscribe for the interest in the limited partnership of 時代領航基金. 時代領航基金 mainly invests in the equity of non-listed companies in related industries such as cybersecurity software, the internet, artificial intelligence, integrated circuit, etc.. The scope of investment includes products such as primary equity, treasury bond, central bank bills, money market funds. The scale of 時代領航基金 is RMB1.539 billion, with a total of 6 investment projects covering software development, semiconductor, computer and other industries, and the position of the Group in 時代 領航基金 was HK\$758.87 million as at 30 September 2023.

聯合資信評估股份有限公司於二零二二年確 定南山集團主體長期信用等級為「AAA」。於 二零二三年九月三十日,本集團於南山債券 的持倉額為港幣9.7379億元。

南山集團成立於一九七九年,經過多年發展 已形成了以南山鋁業、南山智尚、裕龍石化、 物流、金融、教育、旅遊、科技、健康養生為 主導的多產業並舉的發展格局。作為國內以 鋁深加工為主的大型綜合類集團企業,南山 集團在行業地位、產業鏈完整程度、研發實 力、產能利用水準等方面具備明顯優勢。南 山集團是三家上市公司的控股股東,包括山 東南山鋁業股份有限公司(600219.SH)、山東 南山智尚科技股份有限公司(300918.SZ)以及 恒通物流股份有限公司(603223.AS)。本集團 認為南山債券的利率普遍高於香港知名金融 機構提供的定期存款利率,可讓本集團在目 前動盪的經濟環境下獲得穩定回報。

青島萬峰時代領航股權投資中心

初始投資日期:二零二二年 投資類別:基金 成本:港幣8.0308億元 賬面值:港幣7.5887億元 地點:中國 領域:技術、媒體和電信

二零二二年九月,華科智能投資通過全資附 屬公司與北京泰合萬峰投資管理有限公司訂 立合夥協議,認購時代領航基金有限合夥的 份額。時代領航基金主要投資於網絡安全軟 件、互聯網、人工智能、集成電路等相關行 業的非上市公司股權,投資範圍包括一級股 權、國債、中央銀行票據和貨幣市場基金等 產品。時代領航基金的規模為人民幣15.39億 元,目前累計投資項目達6個,覆蓋軟件開 發、半導體、計算機等行業,而於二零二三 年九月三十日,本集團於時代領航基金的持 倉額為港幣7.5887億元。

北京泰合萬峰投資管理有限公司, the General Partner of 時代領航 基金, has extensive experience, deep industry understanding and comprehensive professional technology in private equity investments and capital market. It is able to aggregate quality projects for the fund and facilitate the construction of a broader ecosystem for the invested projects. The "14th Five-Year Plan" has elevated technology and innovation to a crucial position in the whole field of China's modernization, and comprehensively supporting the development of new generation information technology, new materials, high-end equipment, and other emerging industries at the policy level. The Group believes that the subscription of the 時代領航基金 will allow the Group to participate indirectly in the emerging technology industry investment in China and reduce the risk of direct investment through the professional management of the investment manager, which is expected to bring substantial medium-term returns to the Group.

北京泰合萬峰投資管理有限公司是時代領航 基金的普通合夥人,在私募股權投資和資本 市場方面具有廣泛經驗、深刻的行業理解以 及全面的專業技術,為基金聚合優質項目並 協助所投項目建設更寬廣的生態圈。「十四五 規劃」將科技創新提升到中國現代化建設全局 中的核心地位,在政策層面全面支持新一代 信息技術、新材料、高端裝備等新興產業的 發展。本集團認為認購時代領航基金令本集 團間接參與中國新興科技產業的投資,並通 過投資經理的專業管理降低直接投資風險, 預期為本集團帶來可觀的中期投資回報。

青島泰合專精特新股權投資中心( "專精特新基金")

Date of initial investment: 2022 Type of deal: Fund Cost: HK\$450.23 million Carrying value: HK\$416.42 million Location: China Sector: TMT

In July 2022, Wealthink AI entered into a partnership agreement with 北 京 泰 合 萬 峰 投 資 管 理 有 限 公 司 through its wholly-owned subsidiary, in order to subscribe for the interest in the limited partnership of 專 精 特 新 基 金 . 專 精 特 新 基 金 mainly invests in innovative non-listed companies with distinctive expertise that focus on niche markets, including energy conservation and environmental protection, fintech, new energy, Internet of Things, and other related industries. The scope of investment includes products such as primary equity, bank deposits and money market funds. The scale of 專精特 新基金 is 801 million, with a total of 5 investment projects covering new energy, internet, media, culture, and entertainment and other industries, and the position of the Group in 專精特新基金 was HK\$416.42 million as at 30 September 2023.

青島泰合專精特新股權投資中心(「專精特新 基金」)

初始投資日期:二零二二年 投資類別:基金 成本:港幣4.5023億元 賬面值:港幣4.1642億元 地點:中國 領域:技術、媒體和電信

二零二二年七月,華科智能投資通過全資附 屬公司與北京泰合萬峰投資管理有限公司訂 立合夥協議,認購專精特新基金有限合夥的 份額。專精特新基金主要投資於專注細分市 場具備特色專業技術的創新型非上市公司, 包括節能環保、金融科技、新能源、物聯網 等相關行業。投資範圍包括一級股權、銀行 存款和貨幣市場基金等產品。專精特新基金 的規模為人民幣8.01億元,合共有5個投資 項目,覆蓋新能源、互聯網、影視文化娛樂 等行業,而於二零二三年九月三十日,本集 團於專精特新基金的持倉額為港幣4.1642億 元。

As the fund manager of 專精特新基金, 北京泰合萬峰投資管理有 限公司 has obtained the registration of management institutions of privately offered investment funds from Asset Management Association of China in 2015. It has solid experiences and track records in private equity investments, as well as execution experience in business development and management across various industries. Currently, China has been continuously increasing its efforts in nurturing Specialized and Sophisticated SME, which have become an important support for China's manufacture and an essential force for stimulating innovation and optimising ecological industries. Given that 專精特新基金 will invest in Specialized and Sophisticated SME in PRC, the Group considered that subscribing 專精特新基金 will provide diversified investment opportunities and potential investment returns from different high growth industries to the Group.

青島東英領航股權投資中心( "東英領航基金")

Date of initial investment: 2023 Type of deal: Fund Cost: HK\$489.00 million Carrying value: HK\$484.15 million Location: China Sector: TMT

In 2023, Wealthink AI, through its wholly-owned subsidiary, invested RMB450 million in 東英領航基金 and became a limited partner of the fund. 東英領航基金, with a size of RMB990 million, focuses on investment opportunities in advanced manufacturing sectors in China. Key investment areas include unlisted companies in related industries such as new materials, terminal equipment, biotechnology and newgeneration information technology. The investment scope includes products such as primary equity and bonds (including convertible bonds).

北京泰合萬峰投資管理有限公司作為專精特 新基金的基金管理人,已於二零一五年取得 中國證券投資基金業協會私募股權投資管理 人登記,在私募股權投資方面具有可靠經驗 和回報實績,並在業務發展和跨行業管理方 面均有豐富的執行經驗。目前,中國不斷加 大培育專精特新企業的力度,專精特新企業 已成為中國製造的重要支撐,也是激發創新 活力、完善生態產業不可或缺的關鍵力量。 鑒於專精特新基金將對中國境內專精特新企 業進行投資,本集團認為認購專精特新基金 可為本集團提供多元化的投資機會,從不同 的高增長行業獲得潛在投資回報。

青島東英領航股權投資中心(「東英領航基金」)

初始投資日期:二零二三年 投資類別:基金 成本:港幣4.890億元 賬面值:港幣4.8415億元 地點:中國 領域:技術、媒體和電信

二零二三年,華科智能投資通過全資附屬公 司向東英領航基金投資人民幣4.5億元,成為 該基金的有限責任合夥人。東英領航基金規 模為人民幣9.90億元,聚焦於中國境內先進 製造領域的投資機會,重點投資領域包括新 材料、高端設備、生物技術、新一代信息技 術等相關行業的非上市公司。投資範圍包括 一級股權和債券(含可轉債)等產品。

南方東英股權投資基金管理(深圳)有限公司 is the general partner of 東 英 領 航 基 金 and has a team with extensive investment experience and industry resources in advanced manufacturing industry. As at 30 September 2023, the Group's holdings in 東英領航 基金 amounted to HK\$484.15 million.

China's advanced manufacturing sector is experiencing rapid technological innovation and market expansion. The research and development and application of new materials are growing, and the high-end equipment manufacturing industry is in a stage of rapid development. The biotechnology industry has a broad market prospect in the medical and life sciences sectors, and the new generation of information technology has had a profound impact on various industries. 東 英 領 航 基 金 covers these industries with significant growth potential and the Group believes that the subscription will provide the Group with an opportunity to participate in the future economic growth and benefit from the rapid development of China's advanced manufacturing sector, which is expected to inject new growth momentum into our investment portfolio.

Trading and Others

As at 30 September 2023, Wealthink AI's holdings in the trading and others category amounted to HK\$49.20 million. Wealthink AI's holdings in listed securities that fell into this category amounted to HK\$48.75 million, while the holdings in the other equity investment amounted to HK\$0.45 million. During the Period, Wealthink AI made new investments in and divestments from some listed securities to enhance the capital liquidity and generated returns from capital gains.

Save as disclosed herein, there had been no material change in the development or future development of the Group's business and financial position, and no important event affecting the Group had occurred since the publication of the Company's annual report for the year ended 31 March 2023.

南方東英股權投資基金管理(深圳)有限公司 是東英領航基金的普通合夥人,團隊具備豐 富的先進製造行業投資經驗與行業資源。於 二零二三年九月三十日,本集團於東英領航 基金的持倉額為港幣4.8415億元。

中國的先進製造領域正在經歷迅速的技術創 新和市場擴展。新材料的研發和應用正在不 斷壯大,高端設備製造業正處於快速發展的 階段,生物技術行業在醫療和生命科學領域 有著廣闊的市場前景,新一代信息技術則已 經在各行各業產生深遠影響。東英領航基金 涵蓋了這些具有巨大增長潛力的行業,本集 團認為認購東英領域航基金將為本集團帶來 參與未來經濟增長的機會,從中國先進製造 領域的快速發展中受益,預期為我們的投資 組合注入新的增長動力。

交易及其他

於二零二三年九月三十日,華科智能投資於 交易及其他類別的持倉額達港幣4,920萬元。 華科智能投資持有計入該類別的上市證券達 港幣4,875萬元,持有其他股權投資達港幣 45萬元。於本期間,華科智能投資對部分上 市證券進行新增投資及退出投資,以增強資 本流動性,亦從資本收益中產生回報。

除本報告所披露者外,自本公司截至二零 二三年三月三十一日止年度的年報刊發以來, 本集團業務發展或未來發展及財務狀況並無 任何重大變動,亦無發生影響本集團的重大 事件。

FINANCIAL REVIEW

Financial position

Net asset value: As at 30 September 2023, the Group's net asset value was HK\$9,870.14 million, or HK\$0.94 per share, as compared to HK\$10,010.76 million and HK\$0.95 per share respectively as at 31 March 2023.

Gearing: The gearing ratio, which was calculated on the basis of total liabilities over total equity as at 30 September 2023, was 0.13 (31 March 2023: 0.14).

Investments in associates and joint ventures: It represents our interests in companies accounted for using equity method such as core holding company CSOP and Treasure Up, etc. Assets value stood at HK\$839.73 million as at 30 September 2023, representing an decrease of 8.91% as compared to HK\$921.86 million as at 31 March 2023, mainly due to share of loss of Treasure Up and disposal of an associate along with disposal of a subsidiary during the Period.

Investments at fair value through profit and loss: It stood at HK\$6,375.12 million as at 30 September 2023, representing an decrease of 4.25% as compared to HK\$6,658.22 million as at 31 March 2023, mainly attributable to the depreciation of RMB.

Debt investments: It represents the investments in debt instruments as at 30 September 2023, which amounted to HK\$3,591.50 million. The increase of 6.65% as compared to HK\$3,367.46 million as at 31 March 2023 due to new investments during the Period.

Bank and cash balances: As at 30 September 2023, the Group's bank and cash balances stood at HK\$34.38 million (31 March 2023: HK\$108.36 million). We manage our bank and cash balances principally on the basis of making good use of capital to achieve returns for shareholders and ensuring sufficient liquidity for our working capital requirements.

財務回顧

財務狀況

資產淨值:於二零二三年九月三十日,本集 團之資產淨值為港幣98.7014億元,或每股港 幣0.94元,而二零二三年三月三十一日則分 別為港幣100.1076億元及每股港幣0.95元。

資產負債水平:於二零二三年九月三十日, 按總負債除總權益為基準計算之資產負債比 例為0.13(二零二三年三月三十一日:0.14)。

於聯營公司及合營企業之投資:指我們以權 益法入賬之公司權益如核心持股公司南方東 英及Treasure Up等。於二零二三年九月三十 日,資 產 價 值 為 港 幣 8.3973 億 元,較 二 零 二三年三月三十一日的港幣9.2186億元減少 8.91%,主要由於本期間分佔Treasure Up虧 損及隨著出售一間附屬公司而出售一間聯營 公司。

按公平值計入損益賬之投資:於二零二三年 九月三十日為港幣63.7512億元,較二零二三 年 三 月 三 十 一 日 的 港 幣 66.5822 億 元 減 少 4.25%,主要由於人民幣貶值。

債務投資:指於二零二三年九月三十日對債 務工具之投資,為數達港幣35.9150億元,較 二零二三年三月三十一日的港幣33.6746億 元增加6.65%,乃由於本期間的新投資。

銀行及現金結存:於二零二三年九月三十日, 本集團之銀行及現金結存為港幣3,438萬元(二 零二三年三月三十一日:港幣1.0836億元)。 我們管理銀行及現金結存,主要以善用資本 為股東賺取回報為基準,並確保有足夠之流 動資金滿足我們營運資金之需求。

MANAGEMENT DISCUSSION AND ANALYSIS

The Group recorded a total revenue of HK\$147.42 million during the Period, representing an increase of 71.62% as compared to HK\$85.90 million same period of last year. The Group recorded profit for the Period of HK\$23.15 million as compared to HK\$213.21 million for the same period last year. Current period's results comprised of HK\$147.09 million of revenue generated on debt investments, HK\$20.19 million of share of profit of associates and joint ventures and HK\$11.21 million of reversal of provision for ECL, but offset by HK\$112.15 million of unrealised loss and HK\$45.14 million of realised loss on investments at fair value through profit or loss.

本集團於本期間錄得總收益港幣1.4742億元, 較去年同期的港幣8,590萬元增加71.62%。 本集團錄得本期間盈利港幣2,315萬元,去年 同期則為港幣2.1321億元。本期間業績包括 債務投資所得收益港幣1.4709億元、分佔聯 營公司及合營企業溢利港幣2,019萬元及預期 信貸虧損撥備撥回港幣1,121萬元,但被按公 平值計入損益賬之投資未變現虧損港幣1.1215 億元及已變現虧損港幣4,514萬元所抵銷。

Condensed consolidated statement of profit or loss and other comprehensive income

收益主要指本期間已收及應收投資收入,詳

情如下:

簡明綜合損益及其他全面收益表

Revenue mainly represents the income received and receivable on investments during the Period as follows:

		Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年	2022 二零二二年
		HK\$'000 港幣千元	HK\$'000 港幣千元
		(Unaudited) (未經審核)	(Unaudited) (未經審核)
Dividend income	股息收入	–	1,038
Interest revenue(1)	利息收益(1)	147,416	84,866
		147,416	85,904

(1) Interest revenue was primarily generated from the Group's debt instruments as well as term deposit in banks.

Other income and gains, net: The other income and gains, net mainly represents the net gain on disposal of subsidiaries of HK\$84.81 million (1H FY2022/2023: nil) during the Period. Unlisted investment funds, unlisted debt investment and listed securities included in investments at fair value through profit or loss, and private equity investment included in investments in associates were divested along with the disposal of subsidiaries.

(1) 利息收益主要來自本集團債務工具以及於銀行 的定期存款。

其他收入及收益淨額:其他收入及收益淨額 主要指本期間出售附屬公司的收益淨額港幣 8,481萬元(二零二二╱二零二三財年上半年: 無)。非上市投資基金、非上市債務投資及非 上市證券計入按公平值計入損益賬之投資, 而私募股權投資(計入於聯營公司之投資)隨 著出售附屬公司而退出投資。

Net change in unrealised loss on investments at fair value through profit or loss: The net change in unrealised loss of HK\$112.15 million (1H FY2022/2023: HK\$29.26 million) mainly represents the net results of unlisted investment funds, private equity investments and listed securities with unrealised loss of HK\$132.47 million, but offset by unrealised gain of HK\$20.32 million.

Net change in unrealised gain on financial liabilities at fair value through profit or loss: The net change in unrealised gain of HK\$0.20 million (1H FY2022/2023: HK\$0.28 million) mainly represents the share of unrealised loss on co-investments by our co-investment partners.

Net realised (loss)/gain on disposal/distribution of investments: The realised loss of HK\$45.14 million (1H FY2022/2023: gain of HK\$21.51 million) during the Period mainly represents loss from disposal of listed securities and an unlisted equity investment.

Reversal of provision for ECL: The reversal of provision for ECL of HK\$11.21 million for the Period (1H FY2022/2023: HK\$103.53 million) mainly due to change of provision rate of ECL during the Period.

Operating and administrative expenses: The total amount of HK\$32.03 million operating and administrative expenses (1H FY2022/2023: HK\$41.30 million) was mainly the result of staff costs, asset management fee, as well as legal and professional fees. The decrease in operating and administrative expenses was primarily driven by decrease of depreciation of right-of-use assets as a result of office relocation.

Share of profits of associates and joint venture: a net profit of approximately HK\$20.19 million (1H FY2022/2023: net profit of HK\$104.26 million) mainly accounted for share of results of CSOP and Treasure Up. The significant decrease was due to share of loss of Treasure Up during the Period.

Other comprehensive expense: Changes in the Group's NAV, which are not accounted for in "profit for the Period", are recorded under "other comprehensive expense". The net loss of HK\$163.76 million (1H FY2022/2023: HK\$188.19 million) represented the exchange differences primarily due to depreciation of RMB.

按公平值計入損益賬之投資未變現虧損變動 淨額:未變現虧損變動淨額港幣1.1215億元 (二零二二╱二零二三財年上半年:港幣2,926 萬元),主要為非上市投資基金、私募股權投 資及上市證券的淨業績,未變現虧損港幣 1.3247億元,但被未變現收益港幣2,032萬元 所抵銷。

按公平值計入損益賬之財務負債未變現收益 變動淨額:未變現收益變動淨額港幣20萬元 (二零二二╱二零二三財年上半年:港幣28萬 元),主要指我們之合作投資夥伴分攤之合作 投資未變現虧損。

出售╱分派投資之已變現(虧損)╱收益淨額: 於本期間已變現虧損港幣4,514萬元(二零 二二╱二零二三財年上半年:收益港幣2,151 萬元),主要指出售上市證券及非上市股權投 資產生的虧損。

預期信貸虧損撥備撥回:於本期間預期信貸 虧損撥備撥回港幣1,121萬元(二零二二╱二 零二三財年上半年:港幣1.0353億元)主要由 於本期間預期信貸虧損撥備率更改所致。

營運及行政開支:總額港幣3,203萬元(二零 二二╱二零二三財年上半年:港幣4,130萬元) 之營運及行政開支主要是員工成本、資產管 理費以及法律及專業費用。營運及行政開支 減少主要由於搬遷辦公室導致使用權資產折 舊減少所致。

應佔聯營公司及合營企業盈利:純利淨額為 港幣2,019萬元(二零二二╱二零二三財年上 半年:純利港幣1.0426億元),主要為分攤南 方東英及Treasure Up業績。顯著減少乃由於 本期間分攤Treasure Up虧損。

其他全面開支:未計入「本期間盈利」之本集 團資產淨值變動,已記於「其他全面開支」內。 虧損淨額港幣1.6376億元(二零二二╱二零 二三財年上半年:港幣1.8819億元)指匯兌差 額,主要由於人民幣貶值。

DIVIDEND POLICY AND PROPOSED INTERIM DIVIDEND

In considering whether to declare and/or recommend the payment of dividends to the Shareholders, the Board will take into account factors including but not limited to the Group's overall financial position; cash flow; future operating and administrative expenses; future investment plans; the regional and global economic conditions and other factors that may have an impact on the investment market. The Board has resolved not to pay any interim dividend in respect of the Period (1H FY2022/2023: nil).

LIQUIDITY AND FINANCIAL RESOURCES

The Group's major sources of revenue currently are dividend income from investments held, interest revenue from bank deposits and financial instruments held.

As at 30 September 2023, the Group had bank and cash balances of HK\$34.38 million (31 March 2023: HK\$108.36 million). The Group had an aggregate of HK\$1,176.92 million loans primarily comprised of bank loans from our principal bankers and unsecured other interest-bearing borrowings as at 30 September 2023 (31 March 2023: HK\$1,280.39 million). The debt-to-equity ratio (interest-bearing external borrowings divided by shareholders' equity) stood at 11.92% (31 March 2023: 12.09%) while the debt ratio (total borrowings divided by total assets) was 10.57% (31 March 2023: 11.26%). The current ratio (current assets divided by current liabilities) was 4.35 times (31 March 2023: 4.18 times). For further analysis of the Group's cash position, current assets and gearing, please refer to paragraphs under subsections headed "Financial Position".

The Board believes that our operations and borrowing resources are sufficient to provide funding to satisfy our ongoing investment and working capital requirements for the foreseeable future.

股息政策及建議中期股息

於考慮是否向股東宣派任何股息及╱或建議 支付股息時,董事會將考慮的因素包括但不 限於本集團的整體財務狀況;現金流量;未 來的經營及行政開支;未來的投資計劃;區 域及全球經濟狀況以及其他可能對投資市場 產生影響的因素。董事會議決不就本期間派 付任何中期股息(二零二二╱二零二三財年上 半年:無)。

流動資金及財政資源

目前本集團之主要收入來源為所持投資之股 息收入及所持銀行存款及財務工具之利息收益。

於二零二三年九月三十日,本集團有銀行及 現金結存港幣3,438萬元(二零二三年三月 三十一日:港幣1.0836億元)。於二零二三年 九 月 三 十 日,本 集 團 擁 有 貸 款 合 共 港 幣 11.7692億元,主要包括來自我們主要銀行的 銀行貸款及無抵押其他計息借款(二零二三年 三月三十一日:港幣12.8039億元)。股本負 債比率(以計息外部借款除股東權益計算)為 1 1 . 9 2%(二 零 二 三 年 三 月 三 十 一 日: 12.09%),而負債比率(以總借款除總資產計 算)為10.57%(二零二三年三月三十一日: 11.26%)。流動比率(以流動資產除流動負債 計算)則為4.35倍(二零二三年三月三十一日: 4.18倍)。有關本集團現金狀況、流動資產及 資產負債水平之進一步分析,請參閱「財務狀 況」分節各段。

董事會相信我們的營運及借款資源足以提供 資金,以滿足我們於可見將來之持續投資及 營運資金需求。

CAPITAL STRUCTURE

As at 30 September 2023, Shareholders' Equity and the total number of shares in issue of the Company stood at HK\$9,870,137,000 (31 March 2023: HK\$10,010,755,000) and 10,520,324,505 (31 March 2023: 10,520,324,505), respectively.

MATERIAL ACQUISITIONS AND DISPOSALS OF INVESTMENTS

The Group had the following material acquisitions as well as disposals of investments during the Period.

資本架構

於二零二三年九月三十日,股東權益及本公 司已發行股份總數分別為港幣9,870,137,000 元( 二 零 二 三 年 三 月 三 十 一 日 : 港 幣 10,010,755,000元)及10,520,324,505股(二 零二三年三月三十一日:10,520,324,505股)。

投資項目之重大收購及出售

本集團於本期間有以下重大收購及出售投資 項目。

		New/
		Additional	Divestment/
		Investments	Disposal
		新增╱	退出╱
		追加投資	出售投資
		(HK\$ million)	(HK\$ million)
		(港幣百萬元)	(港幣百萬元)
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Private Equity	私募股權	–	(156.79)
Portfolio Management	投資組合管理	3,482.05	(3,139.09)
— Listed security	— 上市證券	0.01	(425.15)
— Debt instrument	— 債務工具	1,288.18	(1,039.07)
— Economic interest	— 收益權	1,704.86	–
— Others	— 其他	489.00	(1,674.87)
Trading and others	交易及其他	16.41	(3.44)
Total	總計	3,498.46	(3,299.32)

SEGMENT INFORMATION

分部資料

Segment information of the Group is set out in note 6 on page 58 to 60 of this report.

本集團之分部資料載於本報告第58至60頁之 附註6。

ADVANCE TO ENTITY

On 25 May 2023, 30 May 2023, 5 June 2023 and 8 June 2023, the Company through its wholly-owned subsidiary subscribed for the Nanshan Bonds issued by Nanshan Development in the respective principal amount of HK\$197,000,000, HK\$197,000,000, HK\$330,000,000, and HK\$251,000,000. As at 30 September 2023, the balances due from Nanshan Development in respect of the subscription of the Nanshan Bonds (excluding any accrued interest) amounted to HK\$975,000,000. The Nanshan Bonds bear interest at the rate of 7.5% per annum and will mature on 24 May 2024. Nanshan Group will unconditionally and irrevocably guarantee the due payment of all sums expressed to be payable by Nanshan Development under the Nanshan Bonds and the trust deed(s) constituting the Nanshan Bonds.

EMPLOYEES

As of 30 September 2023, the Group had 31 employees (31 March 2023: 33), inclusive of all Directors of the Company and its subsidiaries. Total staff costs for the Period amounted to HK\$8.71 million (1H FY 2022/23: HK\$8.34 million). The Group's remuneration policies are in line with market practices and are determined on the basis of the performance and experience of individual employees.

SHARE OPTION SCHEME

During the Period, the Board did not grant any share option under the Company's share option scheme to any Directors or eligible employees of the Group and there were no granted share options exercised (1H FY2022/23: nil). As at 30 September 2023 there were nil (31 March 2023: nil) share options that remained outstanding under the share option scheme.

向實體墊款

於二零二三年五月二十五日、二零二三年五 月三十日、二零二三年六月五日及二零二三 年六月八日,本公司透過其全資附屬公司認 購Nanshan Development發行的南山債券,本 金 額 分 別 為 港 幣 197,000,000 元、港 幣 197,000,000元、港幣330,000,000元及港幣 251,000,000元。於二零二三年九月三十日, Nanshan Development就認購南山債券(不包 括 任 何 應 計 利 息 )的 應 收 餘 額 為 港 幣 975,000,000元。南山債券按年利率7.5%計 息,於二零二四年五月二十四日到期。南山 集 團 將 無 條 件 且 不 可 撤 銷 地 擔 保 Nanshan Development妥為支付根據南山債券及構成南 山債券的信託契據明確應付的所有款項。

僱員

截至二零二三年九月三十日,本集團有31名 僱員(二零二三年三月三十一日:33名),其 中包括本公司及其附屬公司之全體董事。本 期間之員工成本總額達港幣871萬元(二零 二二╱二零二三財年上半年:港幣834萬元)。 本集團之薪酬政策與市場慣例一致,並會根 據個別僱員之表現及經驗決定。

購股權計劃

於本期間,董事會並無根據本公司之購股權 計劃向任何董事或本集團合資格僱員授出任 何購股權,亦無已授出購股權獲行使(二零 二二╱二零二三財年上半年:無)。於二零 二三年九月三十日,根據該購股權計劃有零 份(二零二三年三月三十一日:零份)購股權 尚未行使。

EXPOSURE TO FLUCTUATIONS IN EXCHANGE RATES AND RELATED HEDGES

The Group was exposed to foreign exchange risk arising from financial instruments that are monetary items including investments at fair value through profit or loss, debt investment, interest receivables, loans and other receivables, bank balances, borrowings and lease liabilities and other payables. As at 30 September 2023, these assets were denominated in RMB and the maximum exposure to foreign exchange risk was RMB3,019.06 million, equivalent to HK\$3,240.20 million (31 March 2023: RMB2,039.41 million, equivalent to HK\$2,329.01 million).

As at 30 September 2023, the Group held certain financial assets which were denominated in USD. The Board is of the opinion that the Group's exposure to USD foreign exchange risk is minimal as HKD is pegged to USD based on the Linked Exchange Rate System in Hong Kong.

CHARGES ON THE GROUP'S ASSETS AND CONTINGENT LIABILITIES

As at 30 September 2023, save as certain interests in an associate and debt investment are pledged for the Group's bank loans, these were no charge on Group's assets.

FUTURE PLANS FOR MATERIAL INVESTMENTS OR CAPITAL ASSETS AND THEIR EXPECTED SOURCES OF FUNDING

As at 30 September 2023, there were no plans for material investments or capital assets, but the Group may, at any point, be negotiating potential investments. The Company considers new investments as part of its daily business, and therefore management may publically announce these plans as they become necessarily disclosable to shareholders during the course of the financial year.

PURCHASE, SALE OR REDEMPTION OF SECURITIES

The Group or any of its subsidiaries has not purchased, sold or redeemed any of the Group's securities during the Period.

匯率波動風險及有關對沖

本集團承受之外匯風險來自財務工具,該等 工具為貨幣項目,包括按公平值計入損益賬 之投資、債務投資、應收利息、貸款及其他 應收款項、銀行結存、借款及租賃負債及其 他應付款項。於二零二三年九月三十日,該 等資產均以人民幣計值,所承受外匯風險之 最高金額為人民幣30.1906億元,等值港幣 32.4020億元(二零二三年三月三十一日:人 民幣20.3941億元,等值港幣23.2901億元)。

於二零二三年九月三十日,本集團持有若干 以美元計值之財務資產。董事會認為,由於 港幣與美元因香港之聯繫匯率制度而掛鈎, 故本集團面對之美元匯兌風險屬輕微。

本集團資產抵押及或然負債

於二零二三年九月三十日,除若干在一家聯 營公司的權益及債權投資用以抵押作本集團 的多項銀行貸款之外,本集團概無作出任何 資產抵押。

未來重大投資或資本資產計劃 及其預期之集資來源

於二零二三年九月三十日,概無涉及重大投 資或資本資產之計劃,惟本集團可能隨時就 潛在投資進行磋商。本公司視新增投資為其 日常業務之一部分,因此,倘該等計劃為必 須向股東披露,管理層或會於財政年度期間 作出公佈。

購買、出售或贖回證券

於本期間,本集團或其任何附屬公司並無購 買、出售或贖回本集團任何證券。

CHANGE OF COMPANY NAME

Following the passing of the relevant resolution by way of special resolution at the extraordinary general meeting of the Company held on 25 August 2023, the Shareholders approved the change of the English name of the Company from "Wealthking Investments Limited" to "Wealthink AI-Innovation Capital Limited", and the Chinese name of the Company from "華科資本有限公司" to "華科 智能投資有限公司". The Board took the view that the change of Company names could provide the Company with a new corporate image and identity of the Company's innovation-driven investment strategy with a focus on premium investment opportunities in artificial intelligence and high-tech industries.

On 28 August 2023, the Registrar of Companies in Cayman Islands issued the certificate of incorporation on change of name of the Company. Accordingly, the English name of the Company has been changed from "Wealthking Investments Limited" to "Wealthink AI-Innovation Capital Limited" and the dual foreign name in Chinese of the Company has been adopted and registered as "華科智能投資有 限公司" in place of its former Chinese name of "華科資本有限公司" effective from 28 August 2023.

EVENTS AFTER THE REPORTING PERIOD

Change of Stock Short Names and Company Logo

The stock short names of the Company for trading in the Shares on the Stock Exchange has been changed from "WEALTHKING INV" to "WEALTHINK AI" in English and from "華科資本" to "華科智能投 資" in Chinese with effect from 9 October 2023. The stock code of the Company on the Stock Exchange remains unchanged as "1140". The new logo of the Company, bearing the new Company names, was adopted on 3 October 2023.

更改公司名稱

經本公司於二零二三年八月二十五日舉行的 股東特別大會上以特別決議案方式通過相關 決議案後,股東批准將本公司的英文名稱由 「 Wealthking Investments Limited 」更 改 為 「Wealthink AI-Innovation Capital Limited」及將 本公司的中文名稱由「華科資本有限公司」更 改為「華科智能投資有限公司」。董事會認為, 更改公司名稱可為本公司提供新的企業形象, 並表明本公司創新驅動投資戰略的定位,專 注人工智能及高科技行業的優質投資機會。

於二零二三年八月二十八日,開曼群島公司 註冊處處長發出本公司的公司更改名稱註冊 證 書 。 因 此 , 本 公 司 的 英 文 名 稱 已 由 「 Wealthking Investments Limited 」更 改 為 「Wealthink AI-Innovation Capital Limited」,而 本公司的中文雙重外文名稱已獲採納及註冊 為「華科智能投資有限公司」,以取代其原有 的中文名稱「華科資本有限公司」,均於二零 二三年八月二十八日生效。

報告期後事項

更改股票簡稱及公司標誌

本公司於聯交所進行股份買賣的英文股票簡 稱 將 由「 W E A L T H K I N G I N V 」更 改 為 「WEALTHINK AI」,而中文股票簡稱則由「華 科資本」更改為「華科智能投資」,自二零二三 年十月九日起生效。本公司於聯交所的股票 代號將維持不變為「1140」。本公司附有新公 司名稱的新標誌於二零二三年十月三日獲採納。

CORPORATE GOVERNANCE CODE

Except otherwise stated herein, none of the Directors is aware of any information that would reasonably indicate that the Company is not, or was not, at any time during the Period, in compliance with the Corporate Governance Code set out in Appendix 14 to the Listing Rules.

Code Provision D.1.2 provided that the management should provide all members of the board with monthly updates on the issues, performance, position, and prospects, which may include monthly management accounts and materials between projections and actual results. During the Period, although management accounts were not circulated to board members on a monthly basis, regular reports were given by management to the Directors from time to time, which the Directors consider to be sufficient and appropriate in the circumstances in giving a balanced and understandable assessment of the Company's performance and enable Directors to discharge their duties.

MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS OF LISTED ISSUERS

The Company has adopted a "Policy for Director and Employee Dealings in the Company's Securities" which supplements the Model Code for Securities Transactions by Directors of Listed Issuers ("Model Code") set out in Appendix 10 of the Listing Rules. Following a specific enquiry by the Company, all Directors have confirmed that they have fully complied with the Model Code and the aforesaid internal policy regarding directors' securities transactions throughout the Period.

企業管治守則

除本報告另有註明者外,董事概不知悉有任 何資料,可合理顯示本公司於本期間任何時 間沒有或曾經沒有遵守載於上市規則附錄 十四之企業管治守則。

守則條文第D.1.2條規定,管理層應每月向董 事會全體成員提供有關發行、表現、財務狀 況及前景的最新資料,其中可能包括每月的 管理層賬目及預測與實際數字之資料。於本 期間,儘管並未按月向董事會成員傳閱管理 層賬目,惟管理層不時向董事定期匯報,董 事認為此舉足以妥善對本公司之表現進行公 正及易於理解之評估,並讓董事能履行其職責。

上巿發行人董事進行證券交易 的標準守則

本公司已採納「公司董事及僱員買賣證券之政 策」,該政策補充上市規則附錄十所載上市發 行人董事進行證券交易的標準守則(「標準守 則」)。經本公司作出特定查詢後,全體董事 均確認,彼等於本期間內一直完全遵守標準 守則及上述有關董事證券交易之內部政策。

CHANGES IN DIRECTORS' INFORMATION PURSUANT TO RULE 13.51B(1) OF THE LISTING RULES

Changes in Directors' information since the publication of the Company's annual report for the year ended 31 March 2023 is set out below pursuant to Rule 13.51B(1) of the Listing Rules:

Dr. Fu Weigang ceased to be an adjunct professor at Shanghai University of Finance and Economics (SHUFE), Shanghai Normal University and other universities.

Dr. Wang Shibin is currently the chief executive officer of Chenghe Acquisition Co., a company listed on NASDAQ.

Save as disclosed above, there is no other changes in the Directors' information required to be disclosed pursuant to Rule 13.51B(1) of the Listing Rules.

DIRECTORS' AND CHIEF EXECUTIVE'S INTERESTS AND/OR SHORT POSITIONS IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY OR ANY ASSOCIATED CORPORATION

As at 30 September 2023, the interests and short positions of the Directors and chief executive of the Company in the shares, underlying shares and debentures of the Company and its associated corporation(s) (within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO")) which were notified to the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests or short positions which they were taken or deemed to have under such provisions of the SFO), or which were recorded in the register required to be kept by the Company under Section 352 of the SFO, or which were required, pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers (the "Model Code") in the Listing Rules, to be notified to the Company and the Stock Exchange were as follows:

根據上市規則第13.51B(1)條的 董事資料變動

自本公司截至二零二三年三月三十一日止年 度 的 年 度 報 告 刊 發 以 來 根 據 上 市 規 則 第 13.51B(1)條的董事資料變動載列如下:

傅蔚岡博士不再擔任上海財經大學、上海師 範大學等高校之兼職教授。

王 世 斌 博 士 目 前 擔 任 納 斯 達 克 上 市 公 司 Chenghe Acquisition Co.的行政總裁。

除上文所披露者外,概無其他董事資料變動 須根據上市規則第13.51B(1)條予以披露。

董事及主要行政人員於本公司 或任何相聯法團股份、相關股 份及債券之權益及╱或淡倉

於二零二三年九月三十日,董事及本公司主 要行政人員於本公司及其相聯法團(定義見證 券及期貨條例(「證券及期貨條例」)第XV部) 之股份、相關股份及債券中,擁有已根據證 券及期貨條例第XV部第7及第8分部通知本 公司及香港聯合交易所有限公司(「聯交所」) 之權益及淡倉(包括根據證券及期貨條例有關 條文其被當作或被視為擁有之權益或淡倉), 或已記入本公司根據證券及期貨條例第352 條須存置之登記冊之權益及淡倉,或根據上 市規則上巿發行人董事進行證券交易的標準 守則(「標準守則」)須知會本公司及聯交所之 權益及淡倉如下:

Long positions and/or short position in shares and underlying shares of the Company:

於 本 公 司 股 份 及 相 關 股 份 之 好 倉 及╱或淡倉:

(L) denotes Long position.

(L)指好倉。

Number of ordinary shares/Underlying shares held in the Company 於本公司持有普通股╱相關股份數目

Name of director	Nature of Interests	Interests in shares	Interests under equity derivatives	As to % to the capital of the Company as at 30 September 2023 佔本公司 於二零二三年
董事姓名	權益性質	於股份之權益	股本衍生工具 項下權益	九月三十日之 股本百分比 (note 1) (附註1)
Dr. LIU Zhiwei 柳志偉博士	Beneficial owner and interest of controlled corporation 實益擁有人及受控制之公司權益	2,751,339,130 (L)	–	26.15
Notes: (1)	The percentage of shareholding was calculated on the basis of the	附註: (1)	股權百分比乃按本公司於二零二三年九月三十

Company's issued share capital of 10,520,324,505 shares as at 30 September 2023.

Save as disclosed above, as at 30 September 2023, none of the Directors or chief executive of the Company had any interest or short positions in the shares, underlying shares and debentures of the Company or any of its associated corporations that was required to be recorded pursuant to Section 352 of the SFO, or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code.

日之已發行股本10,520,324,505股股份為基準 計算。

除上文披露者外,於二零二三年九月三十日, 董事或本公司主要行政人員概無於本公司或 其任何相聯法團之股份、相關股份及債券中 擁有根據證券及期貨條例第352條須予記錄, 或根據標準守則須通知本公司及聯交所之任 何權益或淡倉。

SUBSTANTIAL SHAREHOLDERS' INTERESTS AND/ OR SHORT POSITIONS IN SHARES AND UNDERLYING SHARES

As at 30 September 2023, so far as the Directors or chief executive of the Company are aware, the following corporation and persons other than a Director or the chief executive of the Company had an interest or a short position in the Shares and underlying Shares, which were required to be disclosed pursuant to the provisions of Divisions 2 and 3 of Part XV of the SFO, or which were required pursuant to Section 336 of the SFO, to be entered in the register referred to therein:

Long positions and/or short position in shares and underlying shares of the Company:

(L) denotes long position.

主要股東於股份及相關股份之 權益及╱或淡倉

於二零二三年九月三十日,據董事或本公司 主要行政人員所知,下列公司及人士(董事或 本公司主要行政人員除外)於股份及相關股份 中擁有根據證券及期貨條例第XV部第2及3 分部的條文須予披露,或根據證券及期貨條 例第336條須記入該條所述登記冊的權益或 淡倉如下:

於本公司股份及相關股份之好倉及╱或淡倉:

(L)指好倉。

Number of ordinary shares/Underlying shares held in the Company 於本公司持有普通股╱相關股份數目

Name of shareholders	Capacity in which interest are held	Interests in shares	Interests under equity derivatives	As to % to the capital of the Company as at 30 September 2023 佔本公司
股東姓名	持有權益之身份	於股份之權益	股本衍生工具 項下權益	於二零二三年 九月三十日之 股本百分比 (note 1) (附註1)
Acorn Harvest (note 2) Acorn Harves(t 附註2)	Beneficial owner 實益擁有人	1,605,150,622 (L)	–	15.26
Blossom International (note 2) Blossom Internationa(l 附註2)	Interest of controlled corporation 受控制之公司權益	1,605,150,622 (L)	–	15.26
YANG Fang (note 2) YANG Fang(附註2)	Interest of controlled corporation 受控制之公司權益	1,605,150,622 (L)	–	15.26
Ming Yang (note 3) Ming Yang(附註3)	Interest of controlled corporation 受控制之公司權益	1,209,939,000 (L)	–	11.50

Number of ordinary shares/Underlying shares held in the Company 於本公司持有普通股╱相關股份數目

Name of shareholders 股東姓名	Capacity in which interest are held 持有權益之身份	Interests in shares 於股份之權益	Interests under equity derivatives 股本衍生工具 項下權益	As to % to the capital of the Company as at 30 September 2023 佔本公司 於二零二三年 九月三十日之 股本百分比 (note 1) (附註1)
Tycoon Champ (note 3) 冠享(附註3)	Interest of controlled corporation 受控制之公司權益	1,209,939,000 (L)	–	11.50
Bright Victory (note 4) 光威(附註4)	Beneficial owner 實益擁有人	978,260,870 (L)	–	9.30
TCHL (note 4) TCHL(附註4)	Interest of controlled corporation 受控制之公司權益	978,260,870 (L)	–	9.30
TIMGCL (note 4) TIMGCL(附註4)	Interest of controlled corporation 受控制之公司權益	978,260,870 (L)	–	9.30
TJIHCL (note 4) TJIHCL(附註4)	Interest of controlled corporation 受控制之公司權益	978,260,870 (L)	–	9.30
WU Gang (note 4) WU Gang(附註4)	Interest of controlled corporation 受控制之公司權益	978,260,870 (L)	–	9.30
Hong Sheng (note 5) Hong Sheng(附註5)	Beneficial owner 實益擁有人	812,263,200 (L)	–	7.72
CHEN Jiabin (note 5) CHEN Jiabin(附註5)	Interest of controlled corporation 受控制之公司權益	812,263,200 (L)	–	7.72
Grand Link (note 6) Grand Link(附註6)	Beneficial owner 實益擁有人	652,173,913 (L)	–	6.20
WANG Delian (note 6) WANG Delian(附註6)	Interest of controlled corporation 受控制之公司權益	652,173,913 (L)	–	6.20

Notes:

• (1) The percentage of shareholding was calculated on the basis of the Company's issued share capital of 10,520,324,505 shares as at 30 September 2023.
• (2) This represented 1,605,150,622 shares held by Acorn Harvest Holdings Limited ("Acorn Harvest"). Acorn Harvest is a wholly owned subsidiary of Blossom International Investment Holdings Limited ("Blossom International"). Blossom International is in turn beneficially wholly owned by Ms. YANG Fang. By virtue of the SFO, each of Acorn Harvest, Blossom International and Ms. YANG Fang is deemed to be interested in the shares and underlying shares of the Company held by Acorn Harvest.
• (3) This represented an aggregate ("Aggregated Shares") of the 197,400,000 shares held by CVAM Investment Fund SPC, acting on behalf and for the accounts of CVAM Greater China Selected Fixed Income SP, the 20,000,000 shares held by Ming Yang International Opportunities SPC, acting on behalf and for the accounts of Ming Yang International Opportunities Fund SP2, the 204,752,000 shares held by Ming Yang International Opportunities SPC, acting on behalf and for the accounts of Ming Yang International Opportunities Fund SP6, and the 787,787,000 shares held by Ming Yang International Opportunities SPC, acting on behalf and for the accounts of Ming Yang International Opportunities Fund SP1. By virtue of the SFO, Ming Yang Capital Limited ("Ming Yang"), and Tycoon Champ Limited ("Tycoon Champ") who owns 100% of the issued share capital in Ming Yang, are deemed to be interested in the Aggregated Shares.
• (4) This represented 978,260,870 shares held by Bright Victory International Limited ("Bright Victory"). Bright Victory is a wholly owned subsidiary of Tong Chuang Holdings Limited ("TCHL"). TCHL is in turn a wholly subsidiary of Tongchuangjiuding Investment Management Group Co., Ltd. ("TIMGCL") while 46.29% of the issued share capital of TIMGCL is owned by Tongchuang Jiuding Investment Holdings Co. Ltd. ("TJIHCL"). 35.00% of the issued share capital of TJIHCL is beneficially owned by Mr. WU Gang. By virtue of the SFO, each of TJIHCL, TIMGCL, TCHL and Mr. WU Gang is deemed to be interested in the shares and underlying shares of the Company held by Bright Victory.
• (5) This represented 812,263,200 shares held by Hong Sheng Universe Limited ("Hong Sheng"). Mr. CHEN Jiabin owns 100% of the issued share capital in Hong Sheng. By virtue of the SFO, Mr. CHEN Jiabin is deemed to be interested in the shares held by Hong Sheng.

附註:

• (1) 股權百分比乃按本公司於二零二三年九月三十 日之已發行股本10,520,324,505股股份為基準 計算。
• (2) 該等權益指由Acorn Harvest Holdings Limited (「Acorn Harvest」)持有的1,605,150,622股股 份。Acorn Harvest 為 Blossom International Investment Holdings L imited(「 Blos som International」)之全資附屬公司。故Blossom International由YANG Fang女士全資實益擁有。 根據證券及期貨條例,Acorn Harvest、Blossom International及YANG Fang女士各自被視為於 Acorn Harvest持有之本公司股份及相關股份中 擁有權益。
• (3) 該等權益指合計由CVAM Investment Fund SPC 代表及為CVAM Greater China Selected Fixed Income SP賬目行事而持有之197,400,000股股 份、Ming Yang International Opportunities SPC代 表及為Ming Yang International Opportunities Fund SP2賬目行事而持有之20,000,000股股份、 Ming Yang International Opportunities SPC代表 及為Ming Yang International Opportunities Fund SP6賬目行事而持有之204,752,000股份以及 Ming Yang International Opportunities SPC代表 及為Ming Yang International Opportunities Fund SP1賬目行事而持有之787,787,000股份(「合計 股 份」)。根 據 證 券 及 期 貨 條 例,Ming Yang Capital Limited(「Ming Yang」)及 擁 有 Ming Yang已發行股本100%的冠享有限公司(「冠享」) 被視為於合計股份中擁有權益。
• (4) 該等權益指由光威國際有限公司(「光威」)持有 之978,260,870股股份。光威為Tong Chuang Holdings Limited(「TCHL」)之全資附屬公司。故 TCHL 為 T o n g c h u a n g j i u d i n g I n v e st m e n t Management Group Co., Ltd.(「TIMGCL」)之全 資附屬公司,而TIMGCL之46.29%已發行股本 則由Tongchuang Jiuding Investment Holdings Co. Ltd(. 「TJIHCL」)擁有。TJIHCL已發行股本由WU Gang先生實益擁有35.00%。根據證券及期貨 條例,TJIHCL、TIMGCL、TCHL及WU Gang先生 各自被視為於光威持有之本公司股份及相關股 份中擁有權益。
• (5) 該等權益指Hong Sheng Universe Limited(「Hong Sheng 」)持 有 之 812,263,200 股 股 份。CHEN Jiabin先生擁有Hong Sheng之全部已發行股本。 根據證券及期貨條例,CHEN Jiabin先生被視為 於Hong Sheng持有之股份中擁有權益。

(6) This represented 652,173,913 shares held by Grand Link Finance Limited ("Grand Link"). Mr. WANG Delian owns 100% of the issued share capital in Grand Link. By virtue of the SFO, Mr. WANG Delian is deemed to be interested in the shares held by Grand Link.

Save as disclosed above, as at 30 September 2023, the Company has not been notified by any other persons, not being a Director or chief executive of the Company, who has interests or short positions in the shares and underlying shares of the Company representing 5% or more of the Company's issued share capital.

DIRECTORS' RIGHTS TO ACQUIRE SHARES AND DEBENTURES

At no time during the Period was the Company or its associated corporation(s) a party to any arrangements to enable the Directors or chief executive of the Company to acquire any interests or short positions in the shares, underlying shares or debentures of the Company or its associated corporation(s).

AUDIT COMMITTEE

The Company's audit committee, comprising three independent nonexecutive Directors, has reviewed with management the accounting principles and practices adopted by the Group and discussed auditing and financial reporting matters including a review of the condensed consolidated interim financial information for the Period before recommending them to the Board for approval.

REVIEW OF INTERIM FINANCIAL INFORMATION

The external auditor has reviewed the interim financial information for the Period in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Hong Kong Institute of Certified Public Accountants.

(6) 該等權益指Grand Link Finance Limited(「Grand Link 」)持 有 之 652,173,913 股 股 份。WANG Delian先生擁有Grand Link之全部已發行股本。 根據證券及期貨條例,WANG Delian先生被視 為於Grand Link持有之股份中擁有權益。

除上文披露者外,於二零二三年九月三十日, 本公司並不知悉任何其他人士(並非董事或本 公司主要行政人員)於本公司股份及相關股份 中持有之權益或淡倉相當於本公司已發行股 本5%或以上。

董事收購股份及債券之權利

於本期間內任何時間,本公司或其相聯法團 概無訂立任何安排,使董事或本公司主要行 政人員可收購本公司或其相聯法團之股份、 相關股份或債券之任何權益或淡倉。

審核委員會

本公司由三名獨立非執行董事組成之審核委 員會已與管理層共同審閱本集團所採納之會 計原則及慣例,並已討論審計及財務申報事 宜,包括審閱本期間之簡明綜合中期財務資 料,方提呈予董事會批准。

審閱中期財務資料

外聘核數師已根據香港會計師公會頒佈之香 港審閱委聘準則第2410號「由實體的獨立核 數師執行中期財務資料審閱」審閱本期間之中 期財務資料。

INDEPENDENT REVIEW REPORT 獨立審閱報告

TO THE BOARD OF DIRECTORS OF WEALTHINK AI-INNOVATION CAPITAL LIMITED (formerly known as WEALTHKING INVESTMENTS LIMITED) (Incorporated in the Cayman Islands with limited liability)

INTRODUCTION

We have reviewed the interim financial information set out on pages 38 to 92 which comprises the condensed consolidated statement of financial position of Wealthink AI-Innovation Capital Limited (formerly known as Wealthking Investments Limited) (the "Company") and its subsidiaries (collectively referred to as the "Group") as at 30 September 2023 and the related condensed consolidated statement of profit or loss and other comprehensive income, condensed consolidated statement of changes in equity and condensed consolidated statement of cash flows for the six-month period then ended, and other explanatory notes. The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on interim financial information to be in compliance with the relevant provisions thereof and Hong Kong Accounting Standard 34 "Interim Financial Reporting" ("HKAS 34") issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA"). The directors are responsible for the preparation and presentation of this interim financial information in accordance with HKAS 34. Our responsibility is to express a conclusion on this interim financial information based on our review and to report our conclusion solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

致華科智能投資有限公司(前稱華科資本有限 公司)董事會

(於開曼群島註冊成立的有限公司)

引言

我們已審閱載於第38至92頁的中期財務資 料,包括華科智能投資有限公司(前稱華科資 本有限公司)(「貴公司」)及其附屬公司(統稱 「貴集團」)於二零二三年九月三十日的簡明綜 合財務狀況表以及截至該日止六個月期間的 相關簡明綜合損益及其他全面收益表、簡明 綜合權益變動表及簡明綜合現金流量表,以 及其他附註解釋。香港聯合交易所有限公司 證券上市規則規定,就中期財務資料擬備的 報告必須符合以上規則的有關條文以及香港 會計師公會(「香港會計師公會」)頒布的香港 會計準則第34號「中期財務報告」(「香港會計 準則第34號」)。董事須負責根據香港會計準 則第34號擬備及列報該等中期財務資料。我 們的責任是根據我們的審閱對該等中期財務 資料作出結論,並僅按照我們協定的業務約 定條款向 閣下(作為整體)報告我們的結論, 除此之外本報告別無其他目的。我們不會就 本報告的內容向任何其他人士負上或承擔任 何責任。

INDEPENDENT REVIEW REPORT 獨立審閱報告

SCOPE OF REVIEW

We conducted our review in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the HKICPA. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

CONCLUSION

Based on our review, nothing has come to our attention that causes us to believe that the interim financial information is not prepared, in all material respects, in accordance with HKAS 34.

審閱範圍

我們已根據香港會計師公會頒布的香港審閱 準則第2410號「由實體的獨立核數師執行中 期財務資料審閱」進行審閱。審閱中期財務資 料包括主要向負責財務和會計事務的人員作 出查詢,及應用分析性和其他審閱程序。審 閱的範圍遠較根據《香港審計準則》進行審計 的範圍為小,故不能令我們可保證我們將知 悉在審計中可能被發現的所有重大事項。因 此,我們不會發表審計意見。

結論

按照我們的審閱,我們並無發現任何事項, 令我們相信中期財務資料未有在各重大方面 根據香港會計準則第34號擬備。

ZHONGHUI ANDA CPA Limited Certified Public Accountants Yeung Hong Chun Practising Certificate Number P07374

Hong Kong, 29 November 2023

中匯安達會計師事務所有限公司 執業會計師 楊匡俊 執業證書編號P07374

香港,二零二三年十一月二十九日

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 簡明綜合損益及其他全面收益表

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

			(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		Notes 附註	2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Turnover	營業額	5	221,641	211,193
Revenue Other income and gains, net Net change in unrealised (loss)/gain on investments at fair value through	收益 其他收入及收益淨額 由以下各項產生的按公平值計入 損益賬之未變現投資(虧損)╱	5 7	147,416 84,570	85,904 7
profit or loss arising from — listed investments — unlisted investments	收益變動淨額 — 上市投資 — 非上市投資		(21,692) (90,456) (112,148)	(244,664) 215,402 (29,262)
Net realised (loss)/gain on disposal/ distribution of investments arising from — listed investments — unlisted investments	由以下各項產生的出售╱分派之 已變現投資(虧損)╱收益淨額 — 上市投資 — 非上市投資		(17,402) (27,739) (45,141)	27,244 (5,734) 21,510
Net change in unrealised gain on financial liabilities at fair value through profit or loss	按公平值計入損益賬之未變現 財務負債收益變動淨額		195	276
Exchange difference Reversal of provision for expected credit losses	匯兌差額 預期信貸虧損撥備撥回		(8,560) 11,208	(1,825) 103,530
Operating and administrative expenses	營運及行政開支		(32,025)	(41,299)
Operating profit Finance costs Share of profits of associates and	營運盈利 融資成本 應佔聯營公司及合營企業	8	45,515 (42,561)	138,841 (29,888)
joint ventures Profit before tax	盈利 稅前盈利		20,192 23,146	104,257 213,210

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 簡明綜合損益及其他全面收益表

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

			(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		Notes 附註	2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Profit before tax Income tax expense	稅前盈利 所得稅開支	9	23,146 –	213,210 –
Profit for the period attributable to owners of the Company	本公司擁有人應佔本期間盈利	10	23,146	213,210
Other comprehensive income/ (expense): Items that may be reclassified to	其他全面收益╱(開支): 可能重新分類至損益之項目:
profit or loss: Realisation of reserve from disposal of subsidiaries	出售附屬公司儲備變現		31,939	–
Exchange differences on translating foreign operations Share of associates' and joint venture's — Exchange differences on translating foreign operations	換算海外業務之匯兌差額 應佔聯營公司及合營企業 — 換算海外業務之匯兌差額		(195,581) (122)	(172,236) (15,956)
Other comprehensive expense for the period, net of income tax	本期間其他全面開支, 扣除所得稅		(163,764)	(188,192)
Total comprehensive (expense)/ income for the period attributable to owners of the Company	本公司擁有人應佔本期間全面 (開支)╱收益總額		(140,618)	25,018
Earnings per share (HK cents) — Basic	每股盈利(港仙) — 基本	12	0.22	3.25
— Diluted	— 攤薄		0.22	3.25

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 簡明綜合財務狀況表

AS AT 30 SEPTEMBER 2023 於二零二三年九月三十日

			30 September	31 March
			2023	2023
			二零二三年	二零二三年
			九月三十日	三月三十一日
			HK\$'000	HK\$'000
			港幣千元	港幣千元
		Notes	(Unaudited)	(Audited)
		附註	(未經審核)	(經審核)
ASSETS	資產
Non-current assets	非流動資產
Equipment	設備		3,117	4,178
Right-of-use assets	使用權資產		12,326	11,409
Intangible assets	無形資產		782	782
Investments in associates and	於聯營公司及合營企業
joint ventures	之投資	13	839,729	921,863
Investments at fair value through	按公平值計入損益賬
profit or loss	之投資	14	4,542,219	4,600,522
Debt investments	債務投資	15	261,066	199,865
			5,659,239	5,738,619
Current assets	流動資產
Investments at fair value through	按公平值計入損益賬
profit or loss	之投資	14	1,832,905	2,057,701
Debt investments	債務投資	15	3,330,434	3,167,597
Accounts and loan receivables	應收賬款及貸款	16	28,024	114,516
Interest receivables	應收利息		172,180	121,854
Prepayments, deposits and	預付款項、按金及
other receivables	其他應收款項		81,302	57,558
Bank and cash balances	銀行及現金結存		34,382	108,360
			5,479,227	5,627,586
TOTAL ASSETS	總資產		11,138,466	11,366,205
EQUITY AND LIABILITIES	權益及負債
Equity	權益
Share capital	股本	19	1,052,032	1,052,032
Reserves	儲備		8,818,105	8,958,723
Total equity	總權益		9,870,137	10,010,755

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 簡明綜合財務狀況表

AS AT 30 SEPTEMBER 2023 於二零二三年九月三十日

			30 September	31 March
			2023	2023
			二零二三年	二零二三年
			九月三十日	三月三十一日
			HK\$'000	HK\$'000
			港幣千元	港幣千元
		Notes	(Unaudited)	(Audited)
		附註	(未經審核)	(經審核)
Liabilities	負債
Current liabilities	流動負債
Accounts payables	應付賬款	17	50	50
Other payables	其他應付款項		55,694	39,926
Financial liabilities at fair value through	按公平值計入損益賬
profit or loss	之財務負債		2,030	2,225
Borrowings	借款	18	1,176,924	1,280,393
Lease liabilities	租賃負債		7,659	7,056
Current tax liabilities	即期稅項負債		17,818	17,818
			1,260,175	1,347,468
Net current assets	流動資產淨值		4,219,052	4,280,118
Non-current liabilities	非流動負債
Financial liabilities at fair value through	按公平值計入損益賬
profit or loss	之財務負債		1,624	1,667
Lease liabilities	租賃負債		6,530	6,315
			8,154	7,982
Total liabilities	總負債		1,268,329	1,355,450
TOTAL EQUITY AND LIABILITIES	總權益及負債		11,138,466	11,366,205
NET ASSETS	資產淨值		9,870,137	10,010,755
Net asset value per share	每股資產淨值	20	HK\$0.94	HK\$0.95
			港幣0.94元	港幣0.95元

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 簡明綜合權益變動表

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

		(Unaudited)
		Attributable to owners of the Company
					(未經審核)
					本公司擁有人應佔
		Share
		capital			Reserves
		股本			儲備
				Share-based
		Issued	Share	payment	Surplus	Exchange	Accumulated
		capital	premium	reserve	reserve	reserve	losses	Total
				股份支付
		已發行股本	股份溢價	款項儲備	盈餘儲備	匯兌儲備	累計虧損	總計
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		港幣千元	港幣千元	港幣千元	港幣千元	港幣千元	港幣千元	港幣千元
At 1 April 2022	於二零二二年四月一日	406,132	5,301,407	14,969	465	60,356	(255,085)	5,528,244
Total comprehensive (expense)/	本期間全面(開支)╱
income for the period	收益總額	–	–	–	–	(188,192)	213,210	25,018
Issue of shares (note 19)	發行股份(附註19)	556,958	3,551,748	–	–	–	–	4,108,706
Changes in equity for the period 期內權益變動		556,958	3,551,748	–	–	(188,192)	213,210	4,133,724
At 30 September 2022	於二零二二年九月三十日	963,090	8,853,155	14,969	465	(127,836)	(41,875)	9,661,968
At 1 April 2023	於二零二三年四月一日	1,052,032	9,111,087	–	465	(59,096)	(93,733)	10,010,755
Total comprehensive (expense)/	本期間全面
income for the period	(開支)╱收益總額	–	–	–	–	(163,764)	23,146	(140,618)
At 30 September 2023	於二零二三年九月三十日	1,052,032	9,111,087	–	465	(222,860)	(70,587)	9,870,137

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 簡明綜合現金流量表

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

		(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年 HK\$'000	2022 二零二二年 HK\$'000
		港幣千元	港幣千元
Cash flows from operating activities Net cash used in operating activities	經營活動所得之現金流量 經營活動所用現金淨額	(33,428)	(80,553)
Cash flows from investing activities Purchase of investments at fair value through	投資活動所得之現金流量 購買按公平值計入損益賬
profit or loss	之投資	(505,421)	(1,405,448)
Subscription of debt investments	認購債務投資	(1,229,913)	(2,301,700)
Purchases of equipment	購買設備	–	(3)
Distribution and disposal of investments	分派及出售按公平值計入損益賬 之投資
at fair value through profit or loss Repayments of loans to third parties	向第三方貸款還款	74,225 –	79,310 3,225
Interest received	已收利息	85,555	34,021
Dividends received	已收股息	41,536	47,772
Net redemption of unlisted investment funds	贖回非上市投資基金淨額	–	45,979
Acquisition of a joint venture	收購一間合營企業	–	(199,000)
Net proceeds on disposal of subsidiaries	出售附屬公司所得款項淨額	16,248	–
Proceeds on settlement of debt investments	結清債務投資所得款項	1,029,550	–
Other investing cash flows (net)	其他投資現金流量(淨額)	415	–
Net cash used in investing activities	投資活動所用現金淨額	(487,805)	(3,695,844)
Cash flows from financing activities	融資活動所得之現金流量
Decrease in pledged bank deposits	已抵押銀行存款減少	–	20,000
Repayment of borrowings	償還借款	(1,066,843)	(71,080)
Drawdown of borrowings	提取借款	1,541,492	1,086,780
Payment for principal portion of lease liabilities 償還租賃負債本金部分		(3,912)	(17,353)
Lease interests paid Loan interests paid	已付租賃利息 已付貸款利息	(538) (22,944)	(508) (9,013)
Proceeds from issue of shares	發行股份所得款項	–	2,708,706
Net cash generated from financing activities	融資活動所得現金淨額	447,255	3,717,532

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 簡明綜合現金流量表

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

		(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the period	現金及等同現金項目減少淨額 期初現金及等同現金項目	(73,978) 108,360	(58,865) 86,396
Cash and cash equivalents at the end of the period	期末現金及等同現金項目	34,382	27,531
Analysis of cash and cash equivalents Bank and cash balances	現金及等同現金項目分析 銀行及現金結存	34,382	27,531

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

1. GENERAL INFORMATION

Wealthink AI-Innovation Capital Limited (formerly known as Wealthking Investments Limited) (the "Company") was incorporated in the Cayman Islands as an exempted company with limited liability. The address of its registered office is P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The address of its principal place of business is Room 3910-13, 39/F, COSCO Tower, Grand Millennium Plaza, 183 Queen's Road Central, Hong Kong. The Company's shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Company is an investment holding company.

2. BASIS OF PREPARATION

These condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA") and the applicable disclosures required by the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").

These condensed consolidated financial statements should be read in conjunction with the annual financial statements for the year ended 31 March 2023. The accounting policies and methods of computation used in the preparation of these condensed consolidated financial statements are consistent with those used in the annual financial statements for the year ended 31 March 2023.

1. 一般資料

華科智能投資有限公司(前稱華科資本 有限公司)(「本公司」)於開曼群島註冊 成立為一間獲豁免有限公司。註冊辦事 處地址為P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands。主要營業地點為香港皇后大道 中 183 號 新 紀 元 廣 場 中 遠 大 廈 39 樓 3910–13室。本公司股份乃於香港聯合 交易所有限公司(「聯交所」)主板上市。

本公司為一間投資控股公司。

2. 編製基準

此等簡明綜合財務報表乃按照香港會計 師公會(「香港會計師公會」)所頒布之香 港會計準則第34號「中期財務報告」及 聯交所證券上市規則(「上市規則」)的適 用披露規定而編製。

此等簡明綜合財務報表應與截至二零 二三年三月三十一日止年度之年度財務 報表一併閱覽。編製此等簡明綜合財務 報表所用之會計政策及計算方法與編製 截至二零二三年三月三十一日止年度之 年度財務報表所採用者一致。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

3. ADOPTION OF NEW AND REVISED HONG KONG FINANCIAL REPORTING STANDARDS

In the current period, the Company and its subsidiaries (collectively referred to as the "Group") has adopted all the new and revised Hong Kong Financial Reporting Standards ("HKFRSs") issued by the HKICPA that are relevant to its operations and effective for its accounting period beginning on 1 April 2023. HKFRSs comprise Hong Kong Financial Reporting Standards ("HKFRS"); Hong Kong Accounting Standards; and Interpretations. The adoption of these new and revised HKFRSs did not result in significant changes to the Group's accounting policies, presentation of the Group's consolidated financial statements and amounts reported for the current period and prior years.

The Group has not applied the new and revised HKFRSs that have been issued but are not yet effective. The Group has already commenced an assessment of the impact of these new and revised HKFRSs but is not yet in a position to state whether these new and revised HKFRSs would have a material impact on its results of operations and financial position.

4. FAIR VALUE MEASUREMENTS

The carrying amounts of the Group's financial assets and financial liabilities as reflected in the condensed consolidated statement of financial position approximate their respective fair values.

1. 採納新訂及經修訂香港財 務報告準則

於本期間,本公司及其附屬公司(統稱 為「本集團」)已採納香港會計師公會頒 布的與其營運有關並於二零二三年四月 一日開始的會計期間生效的所有新訂及 經修訂香港財務報告準則(「香港財務報 告準則」)。香港財務報告準則包括香港 財務報告準則(「香港財務報告準則」); 香港會計準則;及詮釋。採納該等新訂 及經修訂香港財務報告準則並無導致本 集團之會計政策、本集團綜合財務報表 之呈列以及本期間及過往年度呈報之金 額出現重大變動。

本集團並無應用已頒布但尚未生效之新 訂及經修訂香港財務報告準則。本集團 已開始評估該等新訂及經修訂香港財務 報告準則之影響,惟尚未能確定該等新 訂及經修訂香港財務報告準則會否對其 經營業績及財務狀況構成重大影響。

4. 公平值計量

於簡明綜合財務狀況表所反映之本集團 財務資產及財務負債之賬面值與其各自 之公平值相若。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

1. 公平值計量(續)

分為三級:

公平值是市場參與者在計量日進行之有 秩序交易中出售一項資產所收取或轉移 一項負債所支付之價格。以下披露之公 平值計量使用公平值層級,有關層級將 用以計量公平值之估值技術之輸入數據

4. FAIR VALUE MEASUREMENTS (Continued)

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following disclosures of fair value measurements use a fair value hierarchy that categorises into three levels the inputs to valuation techniques used to measure fair value:

Level 1 inputs:	quoted prices (unadjusted) in active markets for identical assets or liabilities that the Group can access at the measurement date.	第一級輸入數據: 本集團可在計量日 取得之相同資產或 負債在活躍市場之 報價(未經調整)。
Level 2 inputs:	inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly.	第二級輸入數據: 除第一級內包括的 報 價 以 外,基 於 可 直接或間接觀察取 得資產或負債之輸 入數據。
Level 3 inputs:	unobservable inputs for the asset or liability.	第三級輸入數據: 資產或負債之不可 觀察輸入數據。

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.

本集團之政策是於轉撥事件或導致轉撥 之情況出現變動之日,確認轉入及轉出 三個級別任何之一。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

• 1. 公平值計量(續) 4. FAIR VALUE MEASUREMENTS (Continued)
• (a) 公平值層級之各層披露 (a) Disclosures of level in fair value hierarchy

於二零二三年九月三十日使用以 下級別之經常性公平值計量:

Recurring fair value measurements at 30 September 2023 using:

	(Unaudited)
		(未經審核)
Description		Level 1	Level 2	Level 3	Total
描述		第一級	第二級	第三級	總計
		HK\$'000	HK\$'000	HK\$'000	HK\$'000
		港幣千元	港幣千元	港幣千元	港幣千元
Assets	資產
Investments at fair value through	按公平值計入損益賬之
profit or loss	投資
— Listed equity securities	— 上市股權證券	60,327	–	–	60,327
— Unlisted equity investments	— 非上市股權投資	–	–	2,888,591	2,888,591
— Unlisted investment funds	— 非上市投資基金及
and limited partnership	有限合夥企業	–	20,130	1,701,213	1,721,343
— Unlisted economic interest	— 非上市收益權	–	–	1,704,863	1,704,863
		60,327	20,130	6,294,667	6,375,124
Liabilities	負債
Financial liabilities at fair value	按公平值計入損益賬之
through profit or loss	財務負債	–	–	(3,654)	(3,654)
Total recurring fair value	經常性公平值計量總額
measurements		60,327	20,130	6,291,013	6,371,470

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

FAIR	VALUE MEASUREMENTS	(Continued)	4.	公平值計量(續)
(a)	Disclosures of level in (Continued)	fair value hierarchy	(a)		公平值層級之各層披露(續)
	Recurring fair value measurements at 31 March 2023 using:				於二零二三年三月三十一日使用 以下級別之經常性公平值計量:
				(Audited) (經審核)
	Description		Level 1	Level 2	Level 3	Total
	描述		第一級	第二級	第三級	總計
			HK\$'000	HK\$'000	HK\$'000	HK\$'000
			港幣千元	港幣千元	港幣千元	港幣千元
	Assets	資產
	Investments at fair value through profit or loss	按公平值計入損益賬之 投資
	— Listed equity securities	— 上市股權證券	534,476	–	–	534,476
	— Unlisted equity investments	— 非上市股權投資	–	–	3,113,682	3,113,682
	— Unlisted investment funds	— 非上市投資基金及
	and limited partnership	有限合夥企業	–	21,160	2,979,370	3,000,530
	— Unlisted debt investments	— 非上市債務投資	–	–	9,535	9,535
			534,476	21,160	6,102,587	6,658,223
	Liabilities	負債
	Financial liabilities at fair value through profit or loss	按公平值計入損益賬之 財務負債	–	–	(3,892)	(3,892)
	Total recurring fair value	經常性公平值計量總額
	measurements		534,476	21,160	6,098,695	6,654,331

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. FAIR VALUE MEASUREMENTS (Continued)

(Unaudited)

• (b) Reconciliation of assets and liabilities measured at fair value based on level 3
• (b) 以第三級公平值計量之資產 及負債對賬

				(未經審核)
				Investments at fair value
				through profit or loss
				按公平值計入損益賬之投資
							Financial
			Unlisted				liabilities at
			investment				fair value
		Unlisted	funds and	Unlisted	Unlisted		through
		equity	limited	debt	economic	Total	profit
Description		investments	partnership	investments	interest	assets	or loss
			非上市投資				按公平值
		非上市	基金及有限	非上市	非上市		計入損益賬
描述		股權投資	合夥企業	債務投資	收益權	總資產	之財務負債
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		港幣千元	港幣千元	港幣千元	港幣千元	港幣千元	港幣千元
At 1 April 2023	於二零二三年四月一日	3,113,682	2,979,370	9,535	–	6,102,587	(3,892)
Total gains or losses	已確認收益或虧損總額
recognised
— in profit or loss(#)	— 計入損益賬內(#)	(112,131)	(5,022)	(14)	–	(117,167)	195
Additions	添置	–	489,002	–	1,704,863	2,193,865	–
Disposals and distributions 出售及分派		(90,153)	–	–	–	(90,153)	–
Disposal of subsidiaries	出售附屬公司	–	(1,674,870)	(9,521)	–	(1,684,391)	–
Exchange difference	匯兌差額	(22,807)	(87,267)	–	–	(110,074)	43
At 30 September 2023	於二零二三年九月三十日	2,888,591	1,701,213	–	1,704,863	6,294,667	(3,654)
(#) Include gains or losses	(#) 包括報告期末所持
for assets and liabilities	資產及負債之收益
held at the end of the	或虧損
reporting period		(84,392)	(5,022)	–	–	(89,414)	195

^4. 公平值計量(續)

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. FAIR VALUE MEASUREMENTS (Continued)

• (b) Reconciliation of assets and liabilities measured at fair value based on level 3 (Continued)
• (b) 以第三級公平值計量之資產 及負債對賬(續)

			Investments at fair value through profit or loss 按公平值計入損益賬之投資	(Unaudited) (未經審核)
		Unlisted	Unlisted investment funds and	Unlisted		Financial liabilities at fair value through
		equity	limited	debt	Total	profit
Description		investments	partnership 非上市投資	investments	assets	or loss 按公平值
		非上市	基金及有限	非上市		計入損益賬
描述		股權投資	合夥企業	債務投資	總資產	之財務負債
		HK\$'000	HK\$'000	HK\$'000	HK\$'000	HK\$'000
		港幣千元	港幣千元	港幣千元	港幣千元	港幣千元
At 1 April 2022 Total gains or losses recognised	於二零二二年四月一日 已確認收益或虧損總額	2,706,024	1,517,675	10,290	4,233,989	(4,555)
— in profit or loss (#)	— 計入損益賬內(#)	58,712	163,585	30	222,327	276
Additions	添置	478,548	1,304,177	–	1,782,725	–
Disposals and distributions	出售及分派	–	(209)	–	(209)	–
Exchange difference	匯兌差額 匯兌差額	(45,261)	(21,665)	–	(66,926)	78
At 30 September 2022	於二零二二年九月三十日	3,198,023	2,963,563	10,320	6,171,906	(4,201)
(#) Include gains or losses for assets and liabilities held at the end of the	(#) 包括報告期末所持資產 及負債之收益或虧損
reporting period		58,712	163,585	30	222,327	276

The total gains or losses recognised in profit or loss including those for assets and liabilities held at the end of the reporting period are presented in net change in unrealised (loss)/gain on investments at fair value through profit or loss arising from unlisted investments and net change in unrealised gain on financial liabilities at fair value through profit or loss in the condensed consolidated statement of profit or loss and other comprehensive income.

於損益確認之收益或虧損總額(包 括於報告期末所持資產及負債)於 簡明綜合損益及其他全面收益表 呈列為非上市投資產生的按公平 值計入損益賬之未變現投資(虧 損)╱收益變動淨額及按公平值計 入損益之未變現金融負債收益變 動淨額。

^4. 公平值計量(續)

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. FAIR VALUE MEASUREMENTS (Continued)

(c) Disclosure of valuation process used by the Group and valuation techniques and inputs used in fair value measurements at the end of the reporting period

The Group's chief financial officer is responsible for the fair value measurements of assets and liabilities required for financial reporting purposes, including level 3 fair value measurements. The chief financial officer reports directly to the board of directors (the "Board" or the "Directors") for these fair value measurements. Discussions of valuation processes and results are held between the chief financial officer and the Board at least twice a year.

For level 3 fair value measurements, the Group will normally engage external valuation experts with the recognised professional qualifications and recent experience to perform the valuations, and refer to prices quoted by fund administrators.

Level 2 fair value measurements

• 1. 公平值計量(續)
• (c) 於報告期末本集團採用之估 值程序以及公平值計量採用 之估值方法及輸入數據之披 露

本集團之財務總監負責就財務申 報進行之資產及負債公平值計量, 包括第三級公平值計量。財務總 監直接向董事會(「董事會」或「董 事」)報告該等公平值計量。財務 總監與董事會每年至少進行兩次 有關估值過程及結果的討論。

就第三級公平值計量,本集團通 常會委聘具有認可專業資格及近 期經驗的外部估值專家履行估值, 並參考基金管理人的報價。

第二級公平值計量

			Fair value at 於下列日期之公平值
			30 September	31 March
Description	Valuation technique	Inputs	2023	2023
			二零二三年	二零二三年
描述	估值方法	輸入數據	九月三十日	三月三十一日
			HK\$'000	HK\$'000
			港幣千元	港幣千元
			(Unaudited)	(Audited)
			(未經審核)	(經審核)
Unlisted investment funds	Share of net assets	N/A	20,130	21,160
非上市投資基金	分佔資產淨值	不適用

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. FAIR VALUE MEASUREMENTS (Continued)

Level 3 fair value measurements

1. 公平值計量(續)

露(續)

第三級公平值計量

(c) 於報告期末本集團採用之估 值程序以及公平值計量採用 之估值方法及輸入數據之披

(c) Disclosure of valuation process used by the Group and valuation techniques and inputs used in fair value measurements at the end of the reporting period (Continued)

Valuation technique 估值方法	Unobservable inputs 無法觀察之輸入數據	Range 範圍	Effect on fair value for increase of inputs 增加輸入 數據對 公平值的影響	Fair value at 30 September 2023 於二零二三年 九月三十日之 公平值 HK\$'000 港幣千元 (Unaudited)
Investments at fair value through profit or loss 按公平值計入損益賬之投資 Unlisted equity investments				(未經審核)
非上市權益投資
Latest transaction price	N/A	N/A	N/A	21,702
最近交易價	不適用	不適用	不適用
Share of net assets 分佔資產淨值	N/A 不適用	N/A 不適用	N/A 不適用	755,760
Discounted cash flows 貼現現金流量	Discount rate 貼現率	8.42%–	Decrease 減少	1,882,755
		29.24%
	Long-term growth rate 長遠增長率	2.20%– 3.00%	Increase 增加
	Discount for lack of	15.70%–	Decrease
	marketabilities and control 缺乏適銷性及控制之貼現	20.00%	減少
Market approach 市場法	Discount rate 貼現率	13.98%	Decrease 減少	168,293 (note (b)) (附註(b))
Market comparable companies 市場可資比較公司	Price-to-book ratio 市賬率	1.40	Increase 增加	29,081 (note (a)(i))
	Price-to-sales ratio 市銷率	94.27	Increase 增加	(附註(a)(i))
	Discount rate for lack of	20.60%–	Decrease
	marketabilities 缺乏適銷性及控制之貼現率	30.00%	減少

Wealthink AI-Innovation Capital Limited / Interim Report 2023/24 華科智能投資有限公司 / 中期報告2023/24

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. FAIR VALUE MEASUREMENTS (Continued)

1. 公平值計量(續)

露(續)

(c) 於報告期末本集團採用之估 (c) Disclosure of valuation process used by the Group and valuation techniques and inputs used in fair value measurements at the end of the reporting period (Continued)

Level 3 fair value measurements (Continued)

值程序以及公平值計量採用 之估值方法及輸入數據之披

Valuation technique 估值方法	Unobservable inputs 無法觀察之輸入數據	Range 範圍	Effect on fair value for increase of inputs 增加輸入 數據對 公平值的影響	Fair value at 30 September 2023 於二零二三年 九月三十日之 公平值 HK\$'000 港幣千元 (Unaudited) (未經審核)
Investments at fair value through profit or loss (Continued)
按公平值計入損益賬之投資(續) Unlisted non-voting preference shares 非上市無表決權優先股
Market comparable companies 市場可資比較公司	Price-to-book ratio 市賬率	1.72	Increase 增加	31,000 (note (b))
	Discount rate for lack of marketabilities 缺乏適銷性之貼現率	20.50%	Decrease 減少	(附註(b))
Unlisted investment funds and limited partnership 未上市投資基金及有限合夥
Share of net assets 分佔資產淨值	N/A 不適用	N/A 不適用	N/A 不適用	1,701,213 (note (a)(ii)) (附註(a)(ii))
Unlisted economic interest 非上市收益權
Latest transaction price 最新交易價格	N/A 不適用	N/A 不適用	N/A 不適用	1,704,863
Financial liabilities at fair value through profit or loss 按公平值計入損益賬的財務負債
Share of investment results 分佔投資業績	N/A 不適用	N/A 不適用	N/A 不適用	(3,654)

第三級公平值計量(續)

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. FAIR VALUE MEASUREMENTS (Continued)

• 1. 公平值計量(續)
• (c) Disclosure of valuation process used by the Group and valuation techniques and inputs used in fair value measurements at the end of the reporting period (Continued)
• 露(續)

(c) 於報告期末本集團採用之估 值程序以及公平值計量採用 之估值方法及輸入數據之披

Level 3 fair value measurements (Continued)

第三級公平值計量(續)

Valuation technique 估值方法	Unobservable inputs 無法觀察之輸入數據	Range 範圍	Effect on fair value for increase of inputs 增加輸入 數據對 公平值的影響	Fair value at 31 March 2023 於二零二三年 三月三十一日之 公平值 HK\$'000 港幣千元 (Audited) (經審核)
Investments at fair value through profit or loss 按公平值計入損益賬之投資 Unlisted equity investments 非上市權益投資
Latest transaction price	N/A	N/A	N/A	151,076
最新交易價	不適用	不適用	不適用
Share of net assets	N/A	N/A	N/A	798,212
分佔資產淨值	不適用	不適用	不適用
Discounted cash flows	Discount rate	8.42%–	Decrease	1,916,369
貼現現金流量	貼現率	30.58%	減少
	Long-term growth rate	2.20%–	Increase
	長遠增長率	3.00%	增加
	Discount for lack of	15.70%–	Decrease
	marketabilities and control 缺乏適銷性及控制之貼現	20.00%	減少
Market approach	Discount rate	12.36%	Decrease	171,623
市場法	貼現率		減少
Market comparable companies 市場可資比較公司	Price-to-book ratio 市賬率	1.77	Increase 增加	36,502
	Discount rate for lack of marketabilities 缺乏適銷性之貼現率	20.60%	Decrease 減少

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. FAIR VALUE MEASUREMENTS (Continued)

1. 公平值計量(續)

露(續)

(c) 於報告期末本集團採用之估 (c) Disclosure of valuation process used by the Group and valuation techniques and inputs used in fair value measurements at the end of the reporting period (Continued)

Level 3 fair value measurements (Continued)

值程序以及公平值計量採用 之估值方法及輸入數據之披

Valuation technique 估值方法	Unobservable inputs 無法觀察之輸入數據	Range 範圍	Effect on fair value for increase of inputs 增加輸入 數據對 公平值的影響	Fair value at 31 March 2023 於二零二三年 三月三十一日之 公平值 HK\$'000 港幣千元 (Audited) (經審核)
Investments at fair value through profit or loss (Continued)
按公平值計入損益賬之投資(續) Unlisted non-voting preference shares 非上市無表決權優先股
Market comparable companies 市場可資比較公司	Earnings multiples 盈利倍數	11.77	Increase 增加	39,900
	Discount rate for lack of marketabilities 缺乏適銷性之貼現率	20.50%	Decrease 減少
Unlisted investment funds and limited partnership 未上市投資基金及有限合夥
Latest transaction price	N/A	N/A	N/A	1,962
最新交易價	不適用	不適用	不適用
Share of net assets	N/A	N/A	N/A	2,977,408
分佔資產淨值	不適用	不適用	不適用
Unlisted bond 非上市債券
Market comparable companies 市場可資比較公司	Price-to-book ratio 市賬率	18.00	Increase 增加	9,535
	Discount rate for lack of marketabilities 缺乏適銷性之貼現率	30.00%	Decrease 減少
Financial liabilities at fair value through profit or loss
按公平值計入損益賬之財務負債
Share of investment results	N/A	N/A	N/A	(3,892)
分佔投資業績	不適用	不適用	不適用

第三級公平值計量(續)

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. FAIR VALUE MEASUREMENTS (Continued)

(c) Disclosure of valuation process used by the Group and valuation techniques and inputs used in fair value measurements at the end of the reporting period (Continued)

Level 3 fair value measurements (Continued)

Notes:

• (a) During the six months ended 30 September 2023, there were no changes in the valuation techniques used except the following investments:
• (i) 深圳量旋科技有限公司

The valuation technique was changed from "Latest transaction price" to "Market comparable companies" as the transaction price was arrived at for more than a year ago and no longer constituted an appropriate reference for the most recent valuation and "Market comparable companies" is a more appropriate approach to value fair value of a company that is under development stage with great growth potential in the future.

(ii) Value Internet Fund I

The valuation technique was changed from "Latest transaction price" to "Share of net assets" as the transaction price was arrived at for more than a year ago and no longer constituted an appropriate reference for the most recent valuation and "Share of net assets" is a more appropriate approach.

(b) The fair value of certain investments at fair value through profit or loss as at 30 September 2023 has been arrived at on the basis of valuations carried out on those dates by an independent qualified professional valuer not connected to the Group.

• 1. 公平值計量(續)
• (c) 於報告期末本集團採用之估 值程序以及公平值計量採用 之估值方法及輸入數據之披 露(續)

第三級公平值計量(續)

附註:

• (a) 截至二零二三年九月三十日止六 個月,除對下列投資外,所使用的 估值方法沒有變化:
• (i) 深圳量旋科技有限公司

估值方法由「最近交易價」 改為「市場可資比較公司」, 因為交易價是在一年多以 前所得出,不再構成最新估 值的適當參考,而「市場可 資比較公司」是評估一個處 於發展階段、未來有巨大增 長潛力的公司之公平值的 更合適方法。

(ii) Value Internet Fund I

估值方法由「最近交易價」 改為「分佔資產淨值」,因 為交易價是在一年多以前 所得出,不再構成最新估值 的適當參考,而「分佔資產 淨值」是更適合的方法。

(b) 於二零二三年九月三十日,若干 按公平值計入損益賬之投資的公 平值是根據與本集團並無關聯的 獨立合資格專業估值師在該等日 期進行的估值所得出。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

5. TURNOVER AND REVENUE

Turnover represents the aggregate of dividend income, interest revenue and gross sales proceeds from disposal/redemption of investments at fair value through profit or loss.

Turnover and revenue recognised during the periods are analysed as follows:

5.	營業額及收益

營業額指股息收入、利息收益以及出 售╱贖回按公平值計入損益賬之投資之 銷售所得款項總額之總和。

期內確認之營業額及收益分析如下:

		(Unaudited) (未經審核) Six months ended
		30 September 截至九月三十日止六個月
		2023	2022
		二零二三年	二零二二年
		HK\$'000	HK\$'000
		港幣千元	港幣千元
Dividend income	股息收入	–	1,038
Interest revenue	利息收益	147,416	84,866
Total revenue	總收益	147,416	85,904
Gross sales proceeds from disposal/ redemption of investments at fair value	出售╱贖回按公平值計入損益賬 之投資之銷售所得款項總額
through profit or loss		74,225	125,289
Turnover	營業額	221,641	211,193

6. SEGMENT INFORMATION

The chief operating decision maker has been identified as the executive director, subject to requirements of the Listing Rules. The executive director assesses the operating segments using a measure of operating profit. The Group's measurement policies for segment reporting under HKFRS 8 are the same as those used in its HKFRS financial statements.

On adopting of HKFRS 8, based on the internal financial information reported to the executive director for decisions about resources allocation to the Group's business components and review of these components' performance, the Group has identified only one operating segment, being investment holding. Accordingly, segment disclosures are not presented.

6. 分部資料

主要經營決策者已認定為執行董事,受 限於上市規則規定。執行董事採用計量 經營盈利之方法評估經營分部。本集團 根據香港財務報告準則第8號作出分部 報告之計量政策,與其根據香港財務報 告準則編製之財務報表所採用者一致。

於採納香港財務報告準則第8號後,根 據就決定本集團業務組成部分之資源分 配及審閱此等組成部分之表現而向執行 董事呈報之內部財務資料,本集團僅識 別投資控股一個經營分部。因此,並無 呈列分部披露資料。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

6. SEGMENT INFORMATION (Continued)

1. 分部資料(續)

Geographical information

地區資料

			(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Revenue	收益
— Hong Kong	— 香港	111,875	57,292
— Mainland China	— 中國內地	33,289	26,786
— United States of America	— 美國	2,252	1,826
		147,416	85,904

In presenting the geographical information, revenue in relation to equity investments is based on the location of the investments and revenue in relation to debt investments is based on location of provision of credit.

於呈列地區資料時,有關股權投資之收 益之呈列乃以投資所在地為依據,而有 關債務投資之收益呈列乃以提供信貸所 在地為依據。

Non-current assets other than financial instruments

非流動資產(財務工具除外)

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Hong Kong	香港	365,314	330,451
Mainland China	中國內地	489,858	606,999
United States of America	美國	782	782

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

分部資料(續)

Revenue from major debt investments

主要債務投資的收益

Revenue of the Group which individually accounted for 10% or more of the Group's total revenue is shown below:

本集團的收益(各佔本集團總收益10% 或以上)如下:

		(Unaudited) (未經審核) Six months ended 30 September
		截至九月三十日止六個月
		2023 二零二三年	2022 二零二二年
		HK\$'000	HK\$'000
		港幣千元	港幣千元
Debt investment A	債務投資A	24,389	–
Debt investment B	債務投資B	20,305	12,058
Debt investment C	債務投資C	19,403	9,092
Debt investment D	債務投資D	#	16,362
Debt investment E	債務投資E	#	9,212

: The amount of revenue was less than 10% of the total revenue for the relevant period.

7. OTHER INCOME AND GAINS, NET

: 收益金額少於相關期間總收入的10%。

1. 其他收入及收益淨額

			(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		Notes 附註	2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Net gain on disposal of subsidiaries Others	出售附屬公司收益淨額 其他	22	84,308 262	– 7
			84,570	7

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

8. FINANCE COSTS

8. 融資成本

		(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Interest on borrowings Interest on lease liabilities	借款利息 租賃負債利息	42,023 538	29,380 508
		42,561	29,888

9. INCOME TAX EXPENSE

9. 所得稅開支

			(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年	2022 二零二二年
		HK\$'000 港幣千元	HK\$'000 港幣千元
Current tax	即期稅項	–	–

No income tax provision for the six months ended 30 September 2023 and 2022 as the Group did not generate any assessable profits during those periods.

由於本集團於截至二零二三年及二零 二二年九月三十日止六個月並無產生任 何應課稅溢利,故並無就該等期間作出 所得稅撥備。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

10. PROFIT FOR THE PERIOD

1. 本期間盈利

The Group's profit for the period is stated after charging/ (crediting) the following:

本集團本期間盈利在扣除╱(計入)下列 各項後列賬:

		(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Depreciation of equipment Depreciation of right-of-use assets (Reversal of)/provision for expected credit	設備折舊 使用權資產折舊 下列各項之預期信貸虧損	1,019 3,559	2,942 15,562
losses ("ECL") of — debt investments — accounts, loans, interest and other receivables	(「預期信貸虧損」)(撥回)╱撥備 — 債務投資 — 應收賬款、貸款、利息及 其他應收款項	(12,033) 825	(97,829) (5,701)
Staff costs including Directors' emoluments	僱員成本(包括董事酬金)	(11,208) 8,711	(103,530) 8,336

11. DIVIDEND

11. 股息

No dividends was paid or proposed for ordinary shareholders of the Company during the six months ended 30 September 2023, nor has any dividend been proposed at the end of the reporting period (six months ended 30 September 2022: nil).

截至二零二三年九月三十日止六個月並 無向本公司普通股股東派付或建議派付 股息,於報告期末亦無建議派付任何股 息(截至二零二二年九月三十日止六個 月:無)。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

12. EARNINGS PER SHARE

1. 每股盈利

The calculation of the basic and diluted earnings per share is based on the following:

	每股基本及攤薄盈利乃根據以下各項計
算:

		(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年 HK\$'000 港幣千元	2022 二零二二年 HK\$'000 港幣千元
Earnings Earnings for the purpose of calculating basic and diluted earnings per share	盈利 用以計算每股基本及 攤薄盈利之盈利	23,146	213,210
		'000 千股	'000 千股
Number of shares Weighted average number of ordinary shares for the purpose of calculating basic and diluted earnings per share	股份數目 用以計算每股基本及 攤薄盈利之普通股加權 平均數	10,520,325	6,560,757
		HK cents 港仙	HK cents 港仙
Basic and diluted earnings per share	每股基本及攤薄盈利	0.22	3.25

The effects of all potential ordinary shares are anti-dilutive for the six months ended 30 September 2023.

截至二零二三年九月三十日止六個月, 所有潛在普通股的影響均具有反攤薄作用。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

13. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

1. 於聯營公司及合營企業之 投資

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Unlisted investments	非上市投資
— Associates	— 聯營公司
— Share of net assets	— 分佔資產淨值	627,860	712,793
— Goodwill	— 商譽	6,214	6,214
		634,074	719,007
— Joint ventures — share of net assets	— 合營企業 — 分佔資產淨值	205,655	202,856
		839,729	921,863

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

13. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Continued)

Details of the Group's associates and joint ventures at 30 September 2023 are as follows:

於二零二三年九月三十日之本集團聯營 公司及合營企業詳情如下:

		Percentage of ownership interest and voting rights held by the Group at 本集團持有的所有權
			權益及投票權百分比
		30 September	31 March
Name of entity		2023	2023
		二零二三年	二零二三年
實體名稱		九月三十日	三月三十一日
Associates	聯營公司
CSOP Asset Management Limited	南方東英資產管理有限公司
("CSOP") (note)	(「南方東英」)(附註)	22.50%	22.50%
Guotai Junan Fund Management Limited	國泰君安基金管理有限公司	29.90%	29.90%
OPIM Holdings Limited ("OPIM")	OPIM Holdings Limited(「OPIM」)	30.00%	30.00%
Treasure Up Ventures Limited ("TUVL")	寶晉創投有限公司(「TUVL」)	25.00%	25.00%
iCarbonX OP Investment Limited	碳雲東英投資有限公司	29.00%	29.00%
東英騰華融資租賃(深圳)有限公司	東英騰華融資租賃(深圳)
("東英騰華")	有限公司(「東英騰華」)	30.00%	30.00%
上海赫奇企業管理諮詢有限公司	上海赫奇企業管理諮詢
("上海赫奇")	有限公司(「上海赫奇」)	0.00%	23.52%
Greater Bay Area Kunlun Investment SPC	粵港澳大灣區昆侖投資基金管理
("昆侖投資基金")	有限公司(「昆侖投資基金」)	0.00%	30.00%
東創智能(海南)數字科技有限公司	東創智能(海南)數字科技
("東創智能")	有限公司(「東創智能」)	30.00%	30.00%
博石資產管理股份有限公司	博石資產管理股份有限公司 合營企業	29.90%	29.90%
Joint ventures
Shen Jiang L.P. Magopt Investment L.P.	Shen Jiang L.P. Magopt Investment L.P.	50.00% 50.00%	50.00% 50.00%
OP EBS Fintech Investment L.P.	OP EBS Fintech Investment L.P.	40.00%	40.00%
深圳市君匯鑫亦諮詢合夥企業(有限合夥) 深圳市君匯鑫亦諮詢合夥企業
	(有限合夥)	50.00%	50.00%
Golden Cloud Principal Technology	金雲正科技有限公司(「金雲正」)
Company Limited ("Golden Cloud")		19.90%	19.90%

^13. 於聯營公司及合營企業之 投資(續)

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

13. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Continued)

The Group's share of investments' net assets are as follows:

本集團分佔投資的資產淨值如下:

	30 September	31 March
	2023	2023
	二零二三年	二零二三年
	九月三十日	三月三十一日
	HK\$'000	HK\$'000
	港幣千元	港幣千元
	(Unaudited)	(Audited)
	(未經審核)	(經審核)
CSOP (note)	南方東英(附註) 139,952	110,325
TUVL	TUVL 398,063	436,840
東英騰華	東英騰華 66,745	70,550
上海赫奇	上海赫奇 –	69,794
Golden Cloud	金雲正 203,488	200,337
Others	其他 25,267	27,803
	833,515	915,649

Note: As at 30 September 2023 and 31 March 2023, it is pledged to secured bank facilities granted to the Group.

For the description of the business and financial information of the investments, please refer to the Company's annual report for the year ended 31 March 2023.

附註:於二零二三年九月三十日及二零二三年 三月三十一日,其質押作為授予本集團 之銀行融資之抵押。

有關各項投資之業務簡介及財務資料, 請 參 閱 本 公 司 截 至 二 零 二 三 年 三 月 三十一日止年度的年報。

^13. 於聯營公司及合營企業之 投資(續)

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

1. INVESTMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS 14. 按公平值計入損益賬之投 資

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Listed equity securities	上市股權證券	60,327	534,476
	非上市股權投資
Unlisted equity investments		2,888,591	3,113,682
Unlisted investment funds and	非上市投資基金及有限合夥企業
limited partnership		1,721,343	3,000,530
Unlisted debt investments	非上市債務投資	–	9,535
Unlisted economic interest	非上市收益權	1,704,863	–
		6,375,124	6,658,223
Analysed as:	分析如下:
— Non-current assets	— 非流動資產	4,542,219	4,600,522
— Current assets	— 流動資產	1,832,905	2,057,701
		6,375,124	6,658,223

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

15. DEBT INVESTMENTS

1. 債務投資

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Listed debt investment (note)	上市債務投資(附註)	–	975,717
Unlisted debt investments (note)	非上市債務投資(附註)	3,623,753	2,436,620
Less: provision for ECL	減:預期信貸虧損撥備	(32,253)	(44,875)
Total debt investments, net	總債務投資淨值	3,591,500	3,367,462
Analysed as:	分析如下:
— Non-current assets	— 非流動資產	261,066	199,865
— Current assets	— 流動資產	3,330,434	3,167,597
		3,591,500	3,367,462

Note: As at 30 September 2023, HK\$973,785,000 (31 March 2023: HK\$975,717,000) was pledged to secure for the Group's bank borrowings as detailed in note 18(b) to the condensed consolidated financial statements.

The tenure of debt investments ranged from 270 days to 2 years. The applied interest rates ranged from 7.00% to 10.00% (31 March 2023: 6.00% to 9.00%) per annum ("p.a."). They are expected to be settled on maturity date.

In order to minimise the credit risk, the Group has assessed the creditworthy of the investees and closely monitored the repayment ability of the investees.

附註: 於 二 零 二 三 年 九 月 三 十 日,港 幣 973,785,000 元(二 零 二 三 年 三 月 三十一日:港幣975,717,000元)已質 押作為本集團銀行借款之抵押,詳情 載於簡明綜合財務報表附註18(b)。

債務投資之期限介乎270日至2年。應 用年利率(「年利率」)介乎每年7.00%至 10.00%(二零二三年三月三十一日: 6.00%至9.00%)。預計將在到期日清償。

為減低信貸風險,本集團已評估投資對 象之信譽,並密切監察投資對象之還款 能力。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

15. DEBT INVESTMENTS (Continued)

15. 債務投資(續)

As at 30 September 2023, certain debt investments were impaired. It is analysed as follows:

於二零二三年九月三十日,若干債務投 資已減值。分析如下:

					Carrying amount at 賬面值
				30	31
		Loan	Provision	September	March
		principal	for ECL	2023	2023
			預期信貸	二零二三年	二零二三年
		貸款本金	虧損撥備	九月三十日	三月三十一日
		HK\$'000	HK\$'000	HK\$'000	HK\$'000
		港幣千元	港幣千元	港幣千元	港幣千元
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		(未經審核)	(未經審核)	(未經審核)	(經審核)
Neither past due nor impaired	無逾期或減值	3,571,068	26,454	3,544,614	3,326,906
Credit risk significantly increased	信貸風險顯著增加	52,685	5,799	46,886	40,556
				3,591,500	3,367,462

Provision for ECL was recognised in the condensed consolidated statement of profit or loss and other comprehensive income as follows:

預期信貸虧損撥備已於簡明綜合損益及 其他全面收益表確認如下:

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Opening balance	期初結餘	44,875	142,740
Credit during the period/year	於本期間╱年度計入	(12,033)	(96,157)
Transfer from interest receivables	自應收利息轉撥	754	–
Exchange difference	匯兌差額 匯兌差額	(1,343)	(1,708)
Closing balance	期末結餘	32,253	44,875

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

16. ACCOUNTS AND LOAN RECEIVABLES

16. 應收賬款及貸款

			30 September	31 March
			2023	2023
			二零二三年	二零二三年
			九月三十日	三月三十一日
		Notes	HK\$'000	HK\$'000
		附註	港幣千元	港幣千元
			(Unaudited)	(Audited)
			(未經審核)	(經審核)
Unsecured loan	無抵押貸款	(a)	–	45,102
Accounts receivables	應收賬款	(b)	1,089	1,089
Amounts due from associates, joint	應收聯營公司、合營企業及
ventures and related companies	關聯公司款項	(c)	26,935	26,789
Dividend receivables	應收股息	(d)	–	41,536
			28,024	114,516
Notes:		附註:
(a)		(a)
			30 September 2023 二零二三年 九月三十日 HK\$'000 港幣千元 (Unaudited) (未經審核)	31 March 2023 二零二三年 三月三十一日 HK\$'000 港幣千元 (Audited) (經審核)
Unsecured loan to a third party Less: provision for ECL	對第三方之無抵押貸款 減:預期信貸虧損撥備		– –	47,344 (2,242)
			–	45,102

Unsecured loan of RMB41,457,000, equivalent to HK\$47,344,000 was provided to a third party established in the People's Republic of China ("PRC") with interest rate of 8.00% p.a. as at 31 March 2023. ECL of RMB1,963,000, equivalent to HK\$2,242,000 was recognised against the unsecured loan as at 31 March 2023 based on estimated recoverable amount determined by reference to an analysis of the counterparty's current operation.

於二零二三年三月三十一日,對在中華 人民共和國(「中國」)成立的第三方提供 人 民 幣 4 1 , 4 5 7 , 0 0 0 元( 等 值 港 幣 47,344,000元)之無抵押貸款,年利率為 8.00%。於二零二三年三月三十一日確 認之沖抵無抵押貸款預期信貸虧損人民 幣1,963,000元(等值港幣2,242,000元) 乃參考對手方現時營運分析釐定之估計 可收回金額而決定。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

16. ACCOUNTS AND LOAN RECEIVABLES

16. 應收賬款及貸款(續)

(Continued)

Notes: (Continued)

(a) (Continued)

The unsecured loan was disposed along with the disposal of WK Metalight Holdings Limited during the six months ended 30 September 2023 as detailed in note 22(b) to the condensed consolidated financial statements.

The Group does not hold any collateral or other credit enhancement over the balance.

(b) The Group does not hold any collateral or other credit enhancements over the accounts receivables from co-investment partners. The ageing analysis of accounts receivables, based on invoice date of accounts receivables, and net of allowance, is as follows:

附註:(續)

(a) (續)

無抵押貸款已於二零二三年九月三十日 止六個月隨出售WK Metalight Holdings Limited一併處置,詳情載於簡明綜合財 務報表附註22(b)。

本集團並無就結餘持有任何抵押品或設 立其他信貸增強措施。

(b) 本集團並無就來自合作投資夥伴之應收 賬款持有任何抵押品或設立其他信貸增 強措施。根據應收賬款發票日期並扣除 撥備之應收賬款賬齡分析如下:

(c) 應收聯營公司、合營企業及關聯公司款 項主要來自就潛在投資項目提供之預付 款項及本集團代表其聯營公司、合營企 業及關聯公司支付之行政開支。該等款 項為無抵押、免息及須應要求償還。

截至二零二三年九月三十日止六個月, 鑒於應收一間聯營公司款項可收回性之 不確定因素,故預期信貸虧損撥備港幣 7,000元(截至二零二二年九月三十日止 六個月:港幣2,541,000元)於損益中確認。

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Unbilled	未發出賬單	1,089	1,089

(c) Amounts due from associates, joint ventures and related companies mainly arise from advance money provided for potential investment projects and administrative expenses paid by the Group on behalf of its associates, joint ventures and related companies. The amounts are unsecured, interest-free and repayable on demand.

During the six months ended 30 September 2023, in view of the uncertainty on the recoverability of the amount due from one of the associates, provision for ECL of HK\$7,000 (six months ended 30 September 2022: HK\$2,541,000) was recognised in profit or loss.

(d) 於二零二三年三月三十一日,應收股息 指南方東英宣派之股息。該金額已於截 至二零二三年九月三十日止六個月償付。 (d) As at 31 March 2023, dividend receivables represents dividend declared by CSOP. The amounts was settled during the six months ended 30 September 2023.

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

17. ACCOUNTS PAYABLES

1. 應付賬款

The ageing analysis of accounts payables, based on the recognition date of accounts payables, is as follows:

應付賬款按應付賬款確認日期的賬齡分 析如下:

		30 September	31 March
		2023	2023
		二零二三年	二零二三年
		九月三十日	三月三十一日
		HK\$'000	HK\$'000
		港幣千元	港幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Over 1 year	超過1年	50	50

18. BORROWINGS

18. 借款

			30 September	31 March
			2023	2023
			二零二三年	二零二三年
			九月三十日	三月三十一日
		Notes	HK\$'000	HK\$'000
		附註	港幣千元	港幣千元
			(Unaudited)	(Audited)
			(未經審核)	(經審核)
Securities margin trading borrowing	融資融券借款	(a)	–	90,768
Secured borrowings from banks	來自銀行的有抵押借款	(b)	645,000	648,731
Unsecured other borrowings	無抵押其他借款
— Interest bearing	— 計息	(c)	531,924	470,889
— Non-interest bearing	— 不計息	(d)	–	70,005
			1,176,924	1,280,393

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

18. BORROWINGS (Continued)

Notes:

• (a) As at 31 March 2023, securities margin trading borrowing from a securities company secured by certain listed securities of the Group and repayable within 1 year. The amounts was settled and disposed along with the disposal of WK Metalight Holdings Limited during the six months ended 30 September 2023 as detailed in note 22(b) to the condensed consolidated financial statements.
• (b) Secured borrowings from banks are secured by the Group's certain interests in an associate and debt investment and repayable within 1 year.
• (c) The interest bearing other borrowings of HK\$531,924,000 (31 March 2023: HK\$470,889,000) are unsecured, interest bearing from 6.50% to 8.00% (31 March 2023: 7.00% to 7.75%) p.a. and repayable within 1 year.
• (d) Non-interest bearing borrowing represented RMB61,300,000 loan due to 上海赫奇 for a potential investment opportunity in the PRC as at 31 March 2023. The borrowing was non-interest bearing and repayable on demand. The amounts was disposed along with the disposal of WK Metalight Holdings Limited during the six months ended 30 September 2023 as detailed in note 22(b) to the condensed consolidated financial statements.

The average effective interest rate of bank and other borrowings was 7.74% (31 March 2023: 7.63%) p.a..

18. 借款(續)

附註:

• (a) 於二零二三年三月三十一日,向證券公 司以本集團的若干上市證券作擔保借入 資金用於融資融券業務,借款須於1年內 償還。該等款項已於截至二零二三年九 月三十日止六個月與出售WK Metalight Holdings Limited一併償付及處置,詳情 載於簡明綜合財務報表附註22(b)。
• (b) 來自銀行的已抵押借款以本集團於一間 聯營公司及債務投資的權益作擔保,並 須於1年內償還。
• (c) 港幣531,924,000元( 二零二三年三月 三十一日:港幣470,889,000元)的計息 其他借款為無抵押、按年利率6.50%至 8.00%(二零二三年三月三十一日:7.00% 至7.75%)計息及須於1年內償還。
• (d) 於二零二三年三月三十一日,不計息借 款指就中國潛在投資機會應付上海赫奇 之貸款人民幣61,300,000元。借款為不 計息及須應要求償還。該等款項已於截 至二零二三年九月三十日止六個月與出 售WK Metalight Holdings Limited一併處 置,詳 情 載 於 簡 明 綜 合 財 務 報 表 附 註 22(b)。

銀行及其他借款之平均實際年利率為 7.74%(二 零 二 三 年 三 月 三 十 一 日: 7.63%)。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

19. SHARE CAPITAL

1. 股本

Ordinary shares of HK\$0.1 each

每股港幣0.1元之普通股

法定: Authorised: 於二零二二年四月一日、 At 1 April 2022, 31 March 2023 二零二三年三月三十一日 and 1 April 2023 及二零二三年四月一日 添置 Addition (a) 於二零二三年九月三十日 At 30 September 2023 已發行及繳足: Issued and fully paid:	20,000,000,000 30,000,000,000 50,000,000,000	2,000,000 3,000,000 5,000,000
於二零二二年四月一日 At 1 April 2022	4,061,316,000	406,132
發行股份 Issue of shares (b)	3,152,173,913	315,217
發行股份 Issue of shares (c)	812,263,200	81,226
發行股份 Issue of shares (d)	1,605,150,622	160,515
發行股份 Issue of shares (e)	889,420,770	88,942
於二零二三年 At 31 March 2023, 1 April 2023 三月三十一日、 and 30 September 2023 二零二三年四月一日 及二零二三年九月三十日	10,520,324,505	1,052,032

divided into 20,000,000,000 ordinary shares of HK\$0.10 each to HK\$5,000,000,000 divided into 50,000,000,000 ordinary shares by the creation of an additional 30,000,000,000 ordinary shares, such new shares ranking pari passu in all respects with the existing shares of the Company.

普 通 股,將 本 公 司 之 法 定 股 本 由 港 幣 2,000,000,000元(分為20,000,000,000股 每股港幣0.10元的普通股)增加至港幣 5,000,000,000元(分為50,000,000,000股 普通股)。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

19. SHARE CAPITAL (Continued)

19. 股本(續)

Ordinary shares of HK\$0.1 each (Continued)

Notes: (Continued)

(b) On 30 May 2022, the Company issued 1,521,739,130 ordinary new shares at an issue price of HK\$0.92 per share. The aggregate consideration was settled by way of set off against an unsecured interest bearing other borrowing with principal amount of HK\$1,400,000,000 borrowed from a company incorporated in British Virgin Islands which is ultimately controlled by Dr. LIU Zhiwei, the executive director of the Company, interest bearing at 2.50% p.a..

On the same date, the Company issued 1,630,434,783 ordinary new shares at a subscription price of HK\$0.92 per share for a total cash consideration of HK\$1,500,000,000.

• (c) On 19 July 2022, the Company issued 812,263,200 ordinary new shares at a subscription price of HK\$0.50 per share for a total cash consideration of HK\$406,131,000.
• (d) On 27 September 2022, the Company issued 1,605,150,622 ordinary new shares at a subscription price of HK\$0.50 per share for a total cash consideration of HK\$802,575,000.
• (e) On 20 March 2023, the Company issued 889,420,770 ordinary new shares at a subscription price of HK\$0.39 per share for a total cash consideration of HK\$346,874,000.

20. NET ASSET VALUE PER SHARE

The net asset value per share is calculated by dividing the net asset value of the Group as at 30 September 2023 of HK\$9,870,137,000 (31 March 2023: HK\$10,010,755,000) by the number of ordinary shares in issue at that date, being 10,520,324,505 (31 March 2023: 10,520,324,505).

每股港幣0.1元之普通股(續)

附註:(續)

(b) 於二零二二年五月三十日,本公司以發 行價每股港幣0.92元發行1,521,739,130 股普通新股。總代價以抵銷從一間於英 屬處女群島註冊成立的公司借入的無抵 押貸款之方式償付,該公司由本公司執 行董事柳志偉博士最終控制,未償還本 金 為 港 幣 1,400,000,000 元,年 利 率 為 2.5%。

於同日,本公司以認購價每股港幣0.92 元發行1,630,434,783股新普通股,總現 金代價為港幣1,500,000,000元。

• (c) 於二零二二年七月十九日,本公司以認 購價每股港幣0.50元發行812,263,200股 新 普 通 股 , 總 現 金 代 價 為 港 幣 406,131,000元。
• (d) 於二零二二年九月二十七日,本公司以 認 購 價 每 股 港 幣 0 . 5 0 元 發 行 1,605,150,622股新普通股,總現金代價 為港幣802,575,000元。
• (e) 於二零二三年三月二十日,本公司以認 購價每股港幣0.39元發行889,420,770股 新 普 通 股 , 總 現 金 代 價 為 港 幣 346,874,000 元。

20. 每股資產淨值

每股資產淨值是按本集團於二零二三年 九 月 三 十 日 之 資 產 淨 值 港 幣 9,870,137,000 元(二 零 二 三 年 三 月 三十一日:港幣10,010,755,000元)除 以 當 日 已 發 行 之 普 通 股 數 目 10,520,324,505 股(二 零 二 三 年 三 月 三十一日:10,520,324,505股)計算。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

21. SHARE-BASED PAYMENTS

Under the Share Option Scheme adopted on 17 May 2016, the Board may at any time following the date of adoption and before the tenth anniversary thereof, offer to grant to certain selected classes of participants (including, among others, directors, employees and consultants) of the Company, an option to subscribe for shares as incentives or rewards for their contribution to the Company. The subscription price will be determined by the Board (subject to adjustment), and will not be less than the highest of (a) the closing price of the shares of the Company as stated in the Stock Exchange's daily quotations sheet on the date of grant, which must be a business day; (b) the average closing price of the shares of the Company as stated in the Stock Exchange's daily quotations sheet for the five trading days immediately preceding the date of grant; and (c) the nominal value of the shares of the Company. A nominal consideration of HK\$1.00 is payable on acceptance of the grant of an option. The maximum number of shares which may be issued upon exercise of all outstanding options granted and yet to be exercised under this scheme and any other share option schemes adopted by the Company may not exceed 10% of the share capital of the Company in issue.

An option may be accepted by a participant within 21 days from the date of the offer for grant of the option. An option may be exercised in accordance with the terms of the share option scheme at any time not later than 10 years from the date on which the offer for grant of the option is made. Subject to the terms of the share options determined by the Board, the participant may have to meet certain vesting conditions before becoming unconditionally entitled to the share options. For the share options that existed during the six months ended 30 September 2023 and 2022, vesting conditions includes performance conditions such as complete or successful exit of specified investment projects and market conditions such as the Company's market capitalisation. Share options do not confer rights on the holders to dividends or to vote at shareholders' meetings.

21. 股份支付款項

根據二零一六年五月十七日採納之購股 權計劃,董事會可在採納當日後及在計 劃十周年前任何時間,作出要約以授出 可認購股份之購股權予若干本公司經選 定類別參與者(其中包括董事、僱員及 顧問),作為給予彼等對本公司所作貢 獻之獎勵或報酬。認購價格將由董事會 釐定(可予調整),但不得低於以下三項 之最高者:(a)本公司股份於授出日期(必 須為營業日)在聯交所每日報價表所報 之收市價;(b)本公司股份於緊接授出日 期前五個交易日在聯交所每日報價表所 報之平均收市價;及(c)本公司股份面 值。於接納所授購股權時須繳付港幣 1.00元之名義代價。因行使根據本計劃 及本公司採納之任何其他購股權計劃所 授出及尚未行使之所有尚未行使購股權 可予發行之股數上限不得超過本公司已 發行股本之10%。

參與者可於授出購股權要約日期起計21 天內接納購股權。購股權可於作出授出 購股權要約之日起計10年內隨時根據 購股權計劃之條款行使。根據董事會釐 定之購股權條款,參與者或須符合若干 歸屬條件,方可無條件享有購股權。就 截至二零二三年及二零二二年九月三十 日止六個月存在之購股權而言,歸屬條 件包括表現條件(例如完成或成功退出 特定投資項目),以及本公司市值等市 場條件。購股權並不賦予持有人獲派股 息或於股東會議上表決之權利。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

• 1. SHARE-BASED PAYMENTS (Continued)
• 1. 股份支付款項(續)

Movement of the Company's share options during the period:

本期間內本公司之購股權變動:

Date of grant of share options: 1 February 2018

授出購股權日期:二零一八年二 月一日

		Number of share options 購股權數目
Grantee	Exercisable period	Balance at 1 April 2023 and 30 September 2023 於二零二三年 四月一日及 二零二三年 九月三十日 之結存 '000	Balance at 1 April 2022 and 30 September 2022 於二零二二年 四月一日及 二零二二年 九月三十日 之結存 '000
承授人	行使期	千股	千股
Ex-director 前董事	1 February 2019 to 31 January 2023 二零一九年二月一日至二零二三年一月三十一日	–	2,500
	1 February 2020 to 31 January 2023 二零二零年二月一日至二零二三年一月三十一日	–	2,500
	1 February 2021 to 31 January 2023 二零二一年二月一日至二零二三年一月三十一日	–	2,500
	1 February 2022 to 31 January 2023 二零二二年二月一日至二零二三年一月三十一日	–	2,500
		–	10,000
Employees and ex-employees 僱員及前僱員	1 February 2019 to 31 January 2023 二零一九年二月一日至二零二三年一月三十一日	–	1,500
	1 February 2020 to 31 January 2023 二零二零年二月一日至二零二三年一月三十一日	–	1,500
	1 February 2021 to 31 January 2023 二零二一年二月一日至二零二三年一月三十一日	–	1,500
	1 February 2022 to 31 January 2023 二零二二年二月一日至二零二三年一月三十一日	–	1,500
		–	6,000
		–	16,000

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

• 1. SHARE-BASED PAYMENTS (Continued)
• Date of grant of share options: 1 February 2018 (Continued)

The closing price of the ordinary shares of the Company immediately before the date of grant of share options was HK\$2.57 on 1 February 2018.

The Binomial Option Pricing Model has been used to estimate the fair value of the options. The variables and assumptions used in computing the fair value of the share options are based on the Directors' best estimate. The value of an option varies with different variables of certain subjective assumptions.

Details of the share options granted on 1 February 2018 was as follows:

Theoretical aggregate value: HK\$20,539,000 Fair value recognised in profit or loss during the period: Exercise price: HK\$2.60 Risk free interest rate: 1.828% Expected volatility: 43.30% Expected life of the options: 5 years from the date of grant Expected dividend yield: 0.93%

nil (six months ended 30 September 2022: nil) 21. 股份支付款項(續)

授出購股權日期:二零一八年二 月一日(續)

緊接授出購股權日期前,本公司普通股 於二零一八年二月一日的收市價為港幣 2.57元。

已採用二項式期權定價模式估計購股權 之公平值。用作計算購股權之公平值之 變數及假設乃基於董事之最佳估計。購 股權價值因應若干主觀假設之不同變數 而異。

於二零一八年二月一日授出之購股權詳 情如下:

理論總值:	港幣20,539,000元
期內於損益	零(截至二零二二年
確認之公平值:	九月三十日止六個月:零)
行使價:	港幣2.60元
無風險利率:	1.828%
預期波幅:	43.30%
預期購股權年期:	自授出日期起5年
預期股息收益:	0.93%

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

21. SHARE-BASED PAYMENTS (Continued)

21. 股份支付款項(續)

Date of grant of share options: 1 February 2018 (Continued)

The measurement date of the share options was 1 February 2018, being the date of grant of the share options. Where the grantees have to meet vesting conditions before becoming unconditionally entitled to the share options, the total estimated fair value of the share options is spread over the vesting period, taking into account the probability that the options will vest or lapse.

Options forfeited, if any, before the expiry of the options will be treated as lapsed options which will be added back to the number of ordinary shares available to be issued under the Share Option Scheme.

The expected volatility of the underlying security of the options was determined based on the historical volatility of the share prices of the Company, as extracted from Bloomberg and Reuters.

授出購股權日期:二零一八年二 月一日(續)

購股權之計量日期為二零一八年二月一 日,即購股權之授出日期。承授人須符 合歸屬條件後才可無條件地有權獲得購 股權,購股權之估計公平值總額於歸屬 期攤分,並計及購股權將歸屬或失效之 可能性。

到期前遭作廢之購股權(如有)均當作失 效購股權處理,即將有關購股權數目重 新納入有關購股權計劃可予發行之普通 股數目內。

購股權相關證券之預期波幅乃基於摘錄 自彭博及路透社之本公司股價過往波幅 而釐定。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

22. DISPOSAL OF SUBSIDIARIES

1. 出售附屬公司

(a) Disposal of WK Venture Success Limited

On 28 July 2023, the Board has approved the disposal of WK Venture Success Limited to an independent third party purchaser for a consideration of HK\$40,000,000. The disposal of WK Venture Success Limited was completed on 28 July 2023.

Net assets at the date of disposal were as follows:

(a) 出售WK Venture Success Limited

於二零二三年七月二十八日,董 事會已批准向獨立第三方買家出 售WK Venture Success Limited,代 價為港幣40,000,000元。出售WK Venture Success Limited已於二零 二三年七月二十八日完成。

於出售當日資產淨值如下:

		HK\$'000
		港幣千元
		(Unaudited)
		(未經審核)
Investments at fair value through profit or loss	按公平值計入損益賬之投資	9,521
Net assets disposed of	已出售資產淨值	9,521
Gain on disposal of a subsidiary	出售附屬公司收益	30,479
Total consideration	總代價	40,000
Satisfied by:	按以下方式支付:
Cash	現金	15,000
Cash (included in other receivables)	現金(包括其他應收款項)	25,000
Total cash consideration	總現金代價	40,000
Net cash inflow arising on disposal:	出售所產生的現金流入淨額:
Cash consideration received	已收現金代價	15,000
Cash and cash equivalents disposed of	已出售現金及等同現金項目	–
		15,000

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

22. DISPOSAL OF SUBSIDIARIES (Continued)

22. 出售附屬公司(續)

(b) Disposal of WK Metalight Holdings Limited

On 4 August 2023, the Board has approved the disposal of WK Metalight Holdings Limited through WK Intellect Limited, a wholly-owned subsidiary of the Company, to an independent third party purchaser for a consideration of HK\$1,500,000. The disposal of WK Metalight Holdings Limited was completed on 4 August 2023.

Net liabilities at the date of disposal were as follows:

(b) 出售WK Metalight Holdings Limited

於二零二三年八月四日,董事會 已批准通過本公司全資附屬公司 WK Intellect Limited向獨立第三方 買家出售WK Metalight Holdings Limited,代 價 為 港 幣 1,500,000 元。出 售 WK Metalight Holdings Limited已於二零二三年八月四日 完成。

於出售當日負債淨值如下:

		HK\$'000 港幣千元 (Unaudited) (未經審核)
Investment in an associate Investments at fair value through profit or loss	於一間聯營公司之投資 按公平值計入損益賬之投資	66,219 397,305
Accounts and loans receivables Interest receivables Other receivables Bank balances Other payables	應收賬款及貸款 應收利息 其他應收款項 銀行結餘 其他應付款項	42,804 2,542 66 249 (4,275)
Borrowings	借款	(559,188)
Net liabilities disposed of Release of foreign currency translation reserve Gain on disposal of subsidiaries	已出售負債淨值 解除外幣匯兌儲備 出售附屬公司收益	(54,278) 31,939 23,839
Total consideration – satisfied by cash	總代價 — 以現金支付	1,500
Net cash inflow arising on disposal: Cash consideration received Cash and cash equivalents disposed of	出售產生之現金流入淨額: 已收現金代價 已出售現金及等同現金項目	1,500 (249)
		1,251

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

22. DISPOSAL OF SUBSIDIARIES (Continued)

22. 出售附屬公司(續)

(c) Disposal of Silver Path Ventures Limited ("SPV")

On 27 September 2023, the Board has approved the disposal of SPV through WK Strata Holdings Limited, a wholly-owned subsidiary of the Company, to an independent third part y pur chaser for a total consideration of HK\$839,000,000. The disposal of SPV was completed on 29 September 2023.

Net assets at the date of disposal were as follows:

(c) 出售Silver Path Ventures Limited(「SPV」)

於二零二三年九月二十七日,董 事會已批准通過本公司全資附屬 公司WK Strata Holdings Limited向 獨立第三方買家出售SPV,總代價 為港幣839,000,000元。出售SPV 已於二零二三年九月二十九日完成。

於出售當日資產淨值如下:

		HK\$'000 港幣千元 (Unaudited)
		(未經審核)
Investments at fair value through profit or loss	按公平值計入損益賬之投資	778,999
Bank balances	銀行結餘	1
Net assets disposed of	已出售資產淨值	779,000
Gain on disposal of a subsidiary	出售一間附屬公司收益	60,000
Total consideration – satisfied by investments at	總代價 — 以按公平值計入損益賬之
fair value through profit or loss	投資支付	839,000
Net cash inflow arising on disposal:	出售產生現金流入淨額︰
Cash consideration received	已收現金代價	–
Cash and cash equivalents disposed of	出售現金及等同現金項目	(1)
		(1)

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

22. DISPOSAL OF SUBSIDIARIES (Continued)

22. 出售附屬公司(續)

(d) Disposal of Prestige Power Global Limited ("PPG")

On 27 September 2023, the Board has approved the disposal of PPG through WK Strata Holdings Limited, a wholly-owned subsidiary of the Company, to an independent third part y pur chaser for a total consideration of HK\$865,863,000. The disposal of PPG was completed on 29 September 2023.

Net assets at the date of disposal were as follows:

(d) 出售裕力環球有限公司(「裕

力環球」)

於二零二三年九月二十七日,董 事會已批准通過本公司全資附屬 公司WK Strata Holdings Limited向 一名獨立第三方買方出售裕力環 球,總 代 價 為 港 幣 865,863,000 元。出售裕力環球已於二零二三 年九月二十九日完成。

於出售當日資產淨值如下:

		HK\$'000 港幣千元 (Unaudited) (未經審核)
Investments at fair value through profit or loss Bank balances	按公平值計入損益賬之投資 銀行結餘	895,871 2
Net assets disposed of Loss on disposal of a subsidiary	已出售資產淨值 出售附屬公司虧損	895,873 (30,010)
Total consideration — satisfied by investments at fair value through profit or loss	總代價 — 以按公平值計入損益賬之 投資支付	865,863
Net cash outflow arising on disposal: Cash consideration received Cash and cash equivalents disposed of	出售產生現金流出淨額︰ 已收現金代價 出售現金及等同現金項目	– (2)
		(2)

23. CONTINGENT LIABILITIES

1. 或然負債

As at 30 September 2023, the Group and the Company did not have any significant contingent liabilities (31 March 2023: nil).

於二零二三年九月三十日,本集團及本 公司並無任何重大或然負債(二零二三 年三月三十一日:零)。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

24. CAPITAL COMMITMENTS

1. 資本承擔

The Group's capital commitments at the end of the reporting period are as follows:

本集團於報告期末的資本承擔如下:

			30 September	31 March
			2023	2023
			二零二三年	二零二三年
			九月三十日	三月三十一日
		Notes	HK\$'000	HK\$'000
		附註	港幣千元	港幣千元
			(Unaudited)	(Audited)
			(未經審核)	(經審核)
Capital contribution to 東英騰華	向東英騰華注資	(a)	96,593	102,780
Capital contribution to	向OP Fine Billion L.P.
OP Fine Billion L.P.	注資	(b)	5,000	5,000
Capital contribution to 昆侖投資基金 向昆侖投資基金注資		(c)	–	2,400
Capital contribution to 東創智能	向東創智能注資	(d)	3,220	3,426
Capital contribution to	向上海恒嘉美聯發展有限公司
上海恒嘉美聯發展有限公司	(「恒嘉美聯」)注資
("Hengjiameilian")		(e)	150,000	150,000
Capital contribution to	向青島萬峰時代領航股權
青島萬峰時代領航股權投資中心	投資中心(「時代領航基金」)
("時代領航基金")	注資	(f)	77,274	82,224
			332,087	345,830

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

24. CAPITAL COMMITMENTS (Continued)

Notes:

• (a) According to "Investment agreement" of 東英騰華, the Group has committed to a capital contribution of RMB90,000,000, equivalent to HK\$96,593,000 (31 March 2023: HK\$102,780,000) to 東英騰華. The capital will be drawn down on as-needed basis.
• (b) According to the "Exempted Limited Partnership Agreement" signed between OPFI GP(2) Limited, as the general partner, and the limited partner on 24 November 2015, the Group has committed to a capital contribution of HK\$5,000,000. The capital will be drawn down on asneeded basis.
• (c) According to "Shareholders' Agreement" and "Supplementary to Shareholders' Agreement" signed by the Company and Great Wonderful Limited, a wholly-owned subsidiary of the Company, the Group has committed to a capital contribution of HK\$3,000,000 to 昆 侖 投 資 基 金 . As at 30 September 2023, 昆 侖 投 資 基 金 was liquidated and commitment was lapsed.
• (d) According to "shareholders' resolution" of 東創智能, the Company has committed to a capital contribution of RMB3,000,000, equivalent to HK\$3,220,000 (31 March 2023: HK\$3,426,000), to 東創智能. The capital will be drawn down on as-needed basis.
• (e) According to a subscription agreement signed between the Company, through its wholly owned subsidiary, and Hengjiameilian in September 2021, the Group has committed to a capital contribution of HK\$600,000,000, equivalent to RMB472,035,000. As at 30 S e p t e m b e r 2 0 2 3 , HK \$ 4 5 0 , 0 0 0 , 0 0 0 ( 3 1 M a r c h 2 0 2 3 : HK\$450,000,000) has been paid. The capital will be drawn down on as-needed basis.
• (f) According to Partnership Agreement of 時代領航基金, the Group has committed to a capital contribution of RMB780,000,000. As at 3 0 S e p t e m b e r 2 0 2 3 , RMB 7 0 8 , 0 0 0 , 0 0 0 , e q u i v a l e n t t o HK\$759,861,000, (31 March 2023: RMB708,000,000, equivalent to HK\$808,536,000) has been paid.

24. 資本承擔(續)

附註:

• (a) 根據東英騰華之《投資協議》,本集團已 承諾向東英騰華注資人民幣90,000,000 元(等值港幣96,593,000元( 二零二三年 三月三十一日:港幣102,780,000元))。 資金將按需要而提取。
• (b) 根據OPFI GP(2) Limited(為一般合夥人)與 有限合夥人於二零一五年十一月二十四 日簽訂之《獲豁免有限合夥協議》,本集 團已承諾注資港幣5,000,000元。資金將 按需要而提取。
• (c) 根據本公司與本公司之全資附屬公司鴻 妙有限公司簽訂之《股東協議》及《股東補 充協議》,本集團已承諾向昆侖投資基金 注資港幣3,000,000元。於二零二三年九 月三十日,昆倫投資基金已清盤及承諾失 效。
• (d) 根據東創智能之《股東決議案》,本公司 已承諾向東創智能注資人民幣3,000,000 元(等值港幣3,220,000元)(二零二三年 三月三十一日:港幣3,426,000元)。資 金將按需要而提取。
• (e) 根據本公司(透過其全資附屬公司)及恒 嘉美聯於二零二一年九月簽訂的認購協 議,本集團承諾注資港幣600,000,000元 (等值人民幣472,035,000元)。於二零 二 三 年 九 月 三 十 日 , 已 支 付 港 幣 450,000,000元(二零二三年三月三十一 日:港幣450,000,000元)。資金將按需 要而提取。
• (f) 根據時代領航基金的合夥協議,本集團 承諾注資人民幣780,000,000元。於二零 二 三 年 九 月 三 十 日,已 支 付 人 民 幣 708,000,000元(等值港幣759,861,000 元)(二零二三年三月三十一日:人民幣 708,000,000元(等值港幣808,536,000 元))。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

25. RELATED PARTY TRANSACTIONS

25. 關聯人士交易

Transactions and balances with related parties

In addition to those related party transactions and balances disclosed elsewhere in notes to the condensed consolidated financial statements, the Group had the following transactions and balances with its related parties during the period:

與關聯人士之交易及結存

除於簡明綜合財務報表附註其他部分已 披露之該等關聯人士交易及結存外,本 集團於本期間與其關聯人士之交易及結 存如下:

			(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
			2023 二零二三年	2022 二零二二年
Name of related party	Nature of transaction	Notes	HK\$'000	HK\$'000
關聯人士名稱	交易性質	附註	港幣千元	港幣千元
Bestone Capital Limited ("BCL") 博石資本有限公司(「BCL」)	Investment management fee 投資管理費	(a)	–	(280)
Fortune Asset Management Limited ("FAML")	Investment management fee	(b)	(610)	(54)
富強資產管理有限公司(「FAML」)	投資管理費
富強資管(深圳)股權投資基金管理 有限公司("富強資管")	Office rental income	(c)	261	–
富強資管(深圳)股權投資基金管理 有限公司(「富強資管」)	辦公室租金收入

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

25. RELATED PARTY TRANSACTIONS (Continued)

1. 關聯人士交易(續)

Transactions and balances with related parties

與關聯人士之交易及結存(續)

(Continued)

				30 September	31 March
				2023	2023
				二零二三年	二零二三年
				九月三十日	三月三十一日
	Name of related party	Nature of balance	Notes	HK\$'000	HK\$'000
	關聯人士名稱	結存性質	附註	港幣千元	港幣千元
				(Unaudited)	(Audited)
				(未經審核)	(經審核)
BCL BCL		Investment management fee payable 應付投資管理費	(a)	527	527
FAML FAML		Investment management fee payable 應付投資管理費	(b)	1,253	643
	Rich Fortune Allied Limited ("RFAL")	Office rent, building management	(d)	391	391
	聯豐財富有限公司(「聯豐財富」)	fee and government rates payables 應付辦公室租金、樓宇管理費用 及政府差餉
Notes:			附註:
(a)		BCL is a related party to the Group as Dr. LIU Zhiwei, the executive director of the Company, is an ultimate beneficial shareholder of BCL.	(a)	由於本公司執行董事柳志偉博士為BCL 之最終實益股東,故BCL為本集團關聯方。
(b)	director of the Company, is a beneficial shareholder of FAML.	FAML is a related party to the Group as Dr. LIU Zhiwei, the executive	(b)	由於本公司執行董事柳志偉博士為FAML 之實益股東,故FAML為本集團關聯方。
(c)	資管.	富強資管 is a related party to the Group as Dr. LIU Zhiwei, the executive director of the Company, is a beneficial shareholder of 富強	(c)	由於本公司執行董事柳志偉博士為富強 資管實益股東,故富強資管為本集團關 聯方。
(d)	shareholder of RFAL.	RFAL is a related party to the Group as Dr. LIU Zhiwei, the executive director of the Company, is a common director and ultimate beneficial	(d)	由於本公司執行董事柳志偉博士為聯豐 財富之共同董事及最終實益股東,故聯 豐財富為本集團關聯方。

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

1. 關聯人士交易(續) 25. RELATED PARTY TRANSACTIONS (Continued)

Compensation of key management personnel

主要管理人員薪酬

		(Unaudited) (未經審核) Six months ended 30 September 截至九月三十日止六個月
		2023 二零二三年	2022 二零二二年
		HK\$'000	HK\$'000
		港幣千元	港幣千元
Salaries and other benefits	薪金及其他津貼	905	746

26. PARTICULARS OF MAJOR INVESTMENTS HELD BY THE GROUP

Particulars of investments held by the Group as at 30 September 2023 disclosed pursuant to Chapter 21 of the Listing Rules are as follows:

1. 本集團持有之主要投資詳 情

本集團根據上市規則第21章披露於二 零二三年九月三十日持有之投資詳情如 下:

Name of investments	Nature of business	Proportion of investee's capital owned	Cost	Carrying amount	Net asset attributable to the Group	Dividend received/ receivable	Percentage of the Group's total assets 佔本集團
投資名稱	業務性質	擁有所投資公 司之資本比例	成本 HK\$'000 港幣千元	賬面值 HK\$'000 港幣千元	本集團所佔 之資產淨值 HK\$'000 港幣千元	已收╱ 應收股息 HK\$'000 港幣千元	總資產之 百分比
Investments in associates 於聯營公司之投資 TUVL — ordinary shares	Asset management	25.00%	351,671	398,063	398,063	–	3.57%
TUVL — 普通股 CSOP — ordinary shares 南方東英 — 普通股	資產管理 Asset management 資產管理	22.50%	60,000	139,952	139,952	–	1.26%

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

26. PARTICULARS OF MAJOR INVESTMENTS HELD BY THE GROUP (Continued)

1. 本集團持有之主要投資詳 情(續)

Particulars of investments held by the Group as at 30 September 2023 disclosed pursuant to Chapter 21 of the Listing Rules are as follows: (Continued)

本集團根據上市規則第21章披露於二 零二三年九月三十日持有之投資詳情如 下:(續)

Name of investments	Nature of business	Proportion of investee's capital owned 擁有所投資公	Cost	Carrying amount	Net asset attributable to the Group 本集團所佔	Dividend received/ receivable 已收╱	Unrealised (loss)/gain for the period 期內未變現 (虧損)╱	Realised (loss)/gain for the period 期內已變現 (虧損)╱		Percentage of the Group's total assets 佔本集團 總資產之
投資名稱	業務性質	司之資本比例	成本 HK\$'000 港幣千元	賬面值 HK\$'000 港幣千元	之資產淨值 HK\$'000 港幣千元	應收股息 HK\$'000 港幣千元	收益 HK\$'000 港幣千元	收益 HK\$'000 港幣千元		百分比
Investments at fair value through profit or loss
按公平值計入損益賬之投資
OPIM — non-voting preference shares	Asset management	100.00%	58,000	31,000	31,000	–	(8,900)	–		0.28%
OPIM — 無投票權之優先股	資產管理
iCarbonX Group Limited — ordinary shares	Medical and healthcare	7.73%	1,098,790	911,334	911,334	–	(34,515)	–	#	8.18%
碳雲智能集團有限公司 — 普通股	醫療保健
Jiedaibao Limited	Internet-based financial services	2.49%	900,389	971,421	971,421	–	901	–	#	8.72%
借貸寶有限公司	互聯網金融服務
Hengjiameilian	Equity and property investments, and commodity trading	14.9%	450,000	420,501	420,501	–	(26,936)	–	#	3.78%
恒嘉美聯	股權及物業投資及商品貿易
時代領航基金	Asset management	N/A	803,084	758,867	758,867	–	(784)	–	#	6.81%
時代領航基金	資產管理	不適用
青島泰合專精特新股權投資中心	Asset management	N/A	450,232	416,415	416,415	–	4,116	–	#	3.74%
青島泰合專精特新股權投資中心	資產管理	不適用
青島東英領航股權投資中心	Asset management	N/A	489,002	484,145	484,145	–	1,204	–	#	4.35%
青島東英領航股權投資中心	資產管理	不適用
四川鴻鵠志遠教育管理集團有限公司 Education		N/A	1,704,863	1,704,863	1,704,863	–	–	–	#	15.31%
四川鴻鵠志遠教育管理集團有限公司 教育		不適用

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

26. PARTICULARS OF MAJOR INVESTMENTS HELD BY THE GROUP (Continued)

26. 本集團持有之主要投資詳 情(續)

Particulars of investments held by the Group as at 30 September 2023 disclosed pursuant to Chapter 21 of the Listing Rules are as follows: (Continued)

本集團根據上市規則第21章披露於二 零二三年九月三十日持有之投資詳情如 下:(續)

Name of investments	Principal activity of borrower	Tenure	Cost	Carrying amount	Net asset attributable to the Group 本集團所佔	Total interest for the period 本年度	Interest detail		Percentage of the Group's total assets 佔本集團 總資產之
投資名稱	借款方主要業務	期限	成本 HK\$'000 港幣千元	賬面值 HK\$'000 港幣千元	之資產淨值 HK\$'000 港幣千元	利息總額 HK\$'000 港幣千元	利息詳情		百分比
Unlisted debt investments 非上市債務投資
Nanshan Bonds	Trading	1 year	975,000	973,785	973,785	24,389	7.50% p.a., pay	#	8.74%
南山債券	貿易	1年					semi-annually 年利率7.5%, 每半年支付一次
Debenture B	Investment holding	270 days	450,000	449,439	449,439	20,305	9.00% p.a., pay	#	4.04%
債券B	投資控股	270日					upon maturity 年利率9.00%, 於到期時支付
Debenture C	Investment holding	270 days	430,000	429,464	429,464	19,403	9.00%p.a., pay	#	3.86%
債券C	投資控股	270日					upon maturity 年利率9.00%, 於到期時支付

Represents the ten largest investments as at 30 September 2023.

指於二零二三年九月三十日之十大投資。

Particulars of investments held by the Group as at 31 March 2023 disclosed pursuant to Chapter 21 of the Listing Rules are as follows:

本集團根據上市規則第21章披露於二 零二三年三月三十一日之投資詳情如下:

Name of investments	Nature of business	Proportion of investee's capital owned 擁有所	Cost	Carrying amount	Net asset attributable to the Group	Dividend received/ receivable	Percentage of the Group's total assets 佔本集團
投資名稱	業務性質	投資公司之 資本比例	成本 HK\$'000 港幣千元	賬面值 HK\$'000 港幣千元	本集團所佔 之資產淨值 HK\$'000 港幣千元	已收╱ 應收股息 HK\$'000 港幣千元	總資產之 百分比
Investments in associates 於聯營公司投資
TUVL — ordinary shares TUVL — 普通股	Asset management 資產管理	25.00%	351,671	436,840	436,840	–	* 3.84%
CSOP — ordinary shares 南方東英 — 普通股	Asset management 資產管理	22.50%	60,000	110,325	110,325	41,536	0.97%

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

26. PARTICULARS OF MAJOR INVESTMENTS HELD BY THE GROUP (Continued)

1. 本集團持有之主要投資詳 情(續)

Particulars of investments held by the Group as at 31 March 2023 disclosed pursuant to Chapter 21 of the Listing Rules are as follows: (Continued)

本集團根據上市規則第21章披露於二 零二三年三月三十一日之投資詳情如下: (續)

Name of investments	Nature of business	Proportion of investee's capital owned	Cost	Net asset Carrying attributable amount to the Group 本集團所佔 賬面值 之資產淨值 HK\$'000 HK\$'000 港幣千元 港幣千元		Dividend received/ receivable	Unrealised gain/(loss) for the year 年內	Realised loss for the year 年內	Percentage of the Group's total assets 佔本集團
投資名稱	業務性質	擁有所投資公 司之資本比例	成本 HK\$'000 港幣千元			已收╱ 應收股息 HK\$'000 港幣千元	未變現 收益╱(虧損) HK\$'000 港幣千元	已變現 虧損 HK\$'000 港幣千元		總資產之 百分比
Investments at fair value through profit or loss
按公平值計入損益賬之投資 OPIM — non-voting preference shares OPIM — 無投票權之優先股	Asset management 資產管理	100.00%	58,000	39,900	39,900	–	2,100	–		0.35%
iCarbonX Group Limited — ordinary shares	Medical and healthcare	7.73%	1,098,790	945,849	945,849	–	(54,701)	–	*	8.32%
碳雲智能集團有限公司 — 普通股 Jiedaibao Limited 借貸寶有限公司	醫療保健 Internet-based financial services 互聯網金融服務	2.49%	900,389	970,520	970,520	–	15,936	–	*	8.54%
Hengjiameilian	Equity and property investments, and commodity trading	14.9%	450,000	447,437	447,437	–	(2,563)	–	*	3.94%
恒嘉美聯 Dagang Holding Group Co., Limited	股權及物業投資及商品貿易 Manufacture and service of road construction, maintenance machinery and equipment	18.90%	781,225	452,432	452,432	–	(193,331)	(15,385)	*	3.98%
達剛控股集團股份有限公司	道路建設、保養機械設備之 製造及服務
Ninth Eternity Asia Fund LP 九久亞洲基金	Asset management 資產管理	N/A 不適用	700,000	778,999	778,999	–	79,299	–	*	6.85%
Ninth Eternity Asia Fund II LP 九久亞洲基金II	Asset management 資產管理	N/A 不適用	800,000	895,871	895,871	–	96,245	–	*	7.88%
時代領航基金 時代領航基金	Asset management 資產管理	N/A 不適用	803,084	808,298	808,298	–	(237)	–	*	7.11%
青島泰合專精特新股權投資中心 青島泰合專精特新股權投資中心	Asset management 資產管理	N/A 不適用	450,232	444,859	444,859	–	3,029	–	*	3.91%

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023 截至二零二三年九月三十日止六個月

26. PARTICULARS OF MAJOR INVESTMENTS HELD BY THE GROUP (Continued)

26. 本集團持有之主要投資詳 情(續)

Particulars of investments held by the Group as at 31 March 2023 disclosed pursuant to Chapter 21 of the Listing Rules are as follows: (Continued)

本集團根據上市規則第21章披露於二 零二三年三月三十一日之投資詳情如下: (續)

Name of investment	Principal activity of borrower	Tenure	Cost	Carrying amount	Net asset attributable to the Group 本集團 所佔之	Total interest for the year 本期間	Interest detail		Percentage of the Group's total assets 佔本集團 總資產之
投資名稱	借款方主要業務	期限	成本 HK\$'000 港幣千元	賬面值 HK\$'000 港幣千元	資產淨值 HK\$'000 港幣千元	利息總額 HK\$'000 港幣千元	利息詳情		百分比
Listed debt investment 上市債務投資 Nanshan Capital Holdings Limited	Trading	1 year	975,000	975,717	975,717	51,016	7% p.a., pay	*	8.58%
南山資本控股有限公司	貿易	1年					semi-annually 年利率7%, 每半年支付一次

* Represents the ten largest investments as at 31 March 2023.

* 指於二零二三年三月三十一日之十大投資。

27. APPROVAL OF THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. 批准簡明綜合財務報表

The condensed consolidated financial statements were approved and authorised for issue by the Board on 29 November 2023.

董事會已於二零二三年十一月二十九日 批准及授權刊發簡明綜合財務報表。