大象未来集团2024/2025中期报告

CONTENTS 2 4 6 16 CONDENSED CONSOLIDATED STATEMENTOF PROFIT OR LOSS AND OTHERCOMPREHENSIVE INCOME 17 19 CONDENSED CONSOLIDATED STATEMENTOF CHANGES IN EQUITY 21 22 56 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Zhao Wenqing (Chairman)Mr. Huang Dongfeng (Chief Executive Officer)Mr. Yiu Chun KongDr. Guo Honglin # Non-executive DirectorMr. Sue Ka Lok# Independent Non-executive DirectorsMr. Pun Chi PingMs. Leung Pik Har, ChristineMr. Yeung Chi Tat COMPANY SECRETARYMr. Yam Pui Hung, Robert AUDIT COMMITTEE Mr. Yeung Chi Tat (Chairman)Mr. Pun Chi PingMs. Leung Pik Har, Christine REMUNERATION COMMITTEE Mr. Pun Chi Ping (Chairman)Ms. Leung Pik Har, ChristineMr. Yeung Chi Tat NOMINATION COMMITTEE Ms. Leung Pik Har, Christine (Chairlady)Mr. Pun Chi PingMr. Yeung Chi Tat 2831 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 31/F., Vertical Sq, No. 28 Heung Yip Road,Wong Chuk Hang, Hong Kong REGISTERED OFFICE 4th Floor, Harbour Place,103 South Church Street,George Town,P.O. Box 10240,Grand Cayman KY1-1002,Cayman Islands 4th Floor, Harbour Place,103 South Church Street,George Town,P.O. Box 10240,Grand Cayman KY1-1002,Cayman Islands CORPORATE INFORMATION(Continued) SHARE REGISTRARS Principal share registrar and transfer office Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place,103 South Church Street,George Town,P.O. Box 10240,Grand Cayman KY1-1002,Cayman Islands Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place,103 South Church Street,George Town,P.O. Box 10240,Grand Cayman KY1-1002,Cayman Islands Hong Kong branch share registrar and transfer office 1617 Tricor Tengis Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong AUDITOR ZHONGHUI ANDA CPA LimitedCertified Public Accountants LEGAL ADVISERS As to Hong Kong lawLoeb & Loeb LLP As to Cayman Islands lawHarney Westwood & Riegels PRINCIPAL BANKERS Bank of Communications Co., Ltd., Hong Kong BranchBank of Communications (Hong Kong) LimitedHSBC UK Bank PlcMizuho Bank Ltd, JapanChina CITIC BANK Beijing Branch STOCK CODE 2309 The Stock Exchange of Hong Kong Limited: 2309 www.zogroup.com.hk COMPANY WEBSITE www.zogroup.com.hk ABBREVIATIONS In this interim report, the following abbreviations have the following meanings unless otherwise specified: ZO Future Group ABBREVIATIONS(Continued) MANAGEMENT DISCUSSION AND ANALYSIS PERFORMANCE AND RESULTS 20241231172,600,00020231231144,300,00019.6% For the six months ended 31 December 2024, the revenue of the Groupwas approximately HK$172.6 million (six months ended 31 December2023: approximately HK$144.3 million), representing an increase ofapproximately 19.6% as compared with last year. 20241231117,100,00036,900,000217.4%(i) BCFC(ii)(iii)(iv)(v) The Group recorded a loss attributable to owners of the Company ofapproximately HK$117.1 million for the six months ended 31 December2024, representing an increase of approximately 217.4% as comparedto the loss of approximately HK$36.9 million for the corresponding periodlast year. The significant increase in loss was mainly due to, during theperiod under review: (i) a decrease in broadcasting income due to therelegation of BCFC to the EFL League One this season; (ii) a decline inprofit on sales of players’ registration; (iii) an increase in finance costsmainly driven by higher borrowings; (iv) a rise in operating expenses inthe Club mainly due to higher match day and commercial expenses andan increase in depreciation on property, plant, and equipment followingthe completion of the repair and maintenance of infrastructure and facilityupgrades; and (v) an increase in selling and marketing expenses andadministrative expense of the automobiles business, which was partlyoffset by an increase in commercial income and match day receipts and again on fair value change on financial assets recorded during the period. 2024123114.36202312314.78 The basic loss per share for the six months ended 31 December 2024was approximately HK14.36 cents (six months ended 31 December2023: approximately HK4.78 cents). BUSINESS REVIEW AND PROSPECT 20241231(i)(ii)(iii) During the six months ended 31 December 2024, the Group isprincipally engaged in three reportable business segments: (i) operationof a professional football club in the UK and other related business; (ii)new energy automobiles and related business; and (iii) investment inproperties. MANAGEMENT DISCUSSION AND ANALYSIS (Continued) BUSINESS REVIEW AND PROSPECT(Continued) (i) (i)Football club BCFC2024/251 The Group operates a football club through BCFC in the UK. TheClub was relegated after finishing the previous season and is nowplaying in the EFL League One in the season 2024/25. At the dateof this report, the Club stood at the 1st position in the EFL LeagueOne division. The management is ambitious to secure a promotionback to EFL Championship after this season. BCFC(i)(ii)(iii)BCFC26,400,00048.2%2024/25BCFC145,800,00018.4% Revenue streams of BCFC