# EDGAR Filing Document

**Accession Number:** 0001809691
**File Stem:** 0001193125-23-044249
**Filing Date:** 2023-2
**Character Count:** 18445
**Document Hash:** 38e58cfc7b3c40ff9cce60cc4d04c11d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-044249.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001193125-23-044249

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230222

**FILED AS OF DATE**: 20230222

**DATE AS OF CHANGE**: 20230222

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMTD Digital Inc.
- **CENTRAL INDEX KEY:** 0001809691
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40463
- **FILM NUMBER:** 23650687

**BUSINESS ADDRESS:**
- **STREET 1:** #13-02 CECIL COURT
- **STREET 2:** 138 CECIL STREET
- **CITY:** SINGAPORE
- **STATE:** U0
- **ZIP:** 069538
- **BUSINESS PHONE:** 65

**MAIL ADDRESS:**
- **STREET 1:** #13-02 CECIL COURT
- **STREET 2:** 138 CECIL STREET
- **CITY:** SINGAPORE
- **STATE:** U0
- **ZIP:** 069538

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM 6-K** 

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**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16 UNDER** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of February 2023** 

**Commission File Number: 001-40463** 

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## AMTD Digital Inc.
**(Registrant's Name)** 

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**25/F Nexxus Building** 

**41 Connaught Road Central** 

**Hong Kong** 

**(Address of Principal Executive Offices)** 

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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

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**EXHIBIT INDEX** 

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release—AMTD Digital Inc.'s First Half 2023 Financials Achieved over 130% Increase in Net Profit](d301997dex991.htm) |

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

**AMTD Digital Inc.**

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| | |
|:---|:---|
|  By: | /s/ Xavier Zee |

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Name: Xavier Zee

Title: Chief Financial Officer

Date: February 22, 2023

## Exhibit 99.1

**Exhibit 99.1** 

**AMTD Digital Inc.'s First Half 2023 Financials Achieved over 130% Increase in Net Profit** 

**NEW YORK, SINGAPORE, HONG KONG, February 22, 2023** 

AMTD Digital Inc. ("**AMTD Digital**" or the "**Company**") (NYSE: HKD), a NYSE-listed company and a subsidiary of AMTD IDEA Group ("**AMTD IDEA**") (NYSE: AMTD; SGX: HKB), today announced its unaudited financial results for the six months ended October 31, 2022. AMTD IDEA is a subsidiary of AMTD Group Inc. ("**AMTD Group**") and AMTD Group is a Hong Kong-headquartered conglomerate focusing on the "IDEA" strategy to develop the four pillars of core businesses, namely international connectors and business services, digital solutions, education and training, and premium assets and hospitality.

**Highlights of Interim Financial Results and Key Changes for the Six Months Ended October 31, 2022** 

• Profit and total comprehensive income for the six months ended October 31, 2022, increased by 131.8% and
134.8%, respectively, as compared to the same period in prior year to HK$83.7 million (US$10.7 million equivalent) and HK$83.3 million (US$10.6 million equivalent), respectively.

• The Company successfully expanded its digital media, content and marketing business. To date, AMTD Digital Media
and Entertainment Group, being AMTD Digital's media, cultural and entertainment arm, and including therein AMTD Digital Media Limited, has become one of the major operating subsidiaries under AMTD Digital, and boasts enormous credentials and
experience to produce, promote and distribute quality, entertaining and cultural movies, contents, images and outputs to the public.

• Developments subsequent to October 31, 2022:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Previously announced transaction of injecting AMTD Assets Group ("AMTD Assets") into AMTD Digital has
been closed successfully in February 2023. AMTD Assets represents the letter "A" of AMTD Group's "IDEA" strategy, and holds a global portfolio of premium whole building properties, with a fair market value of approximately
US$500 million. Following the completion of the transaction, AMTD Digital owns 100% of the equity interest in AMTD Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. AMTD Digital is strong in its cash and cash equivalent position. As of October 31, 2022, the Company had a cash
and cash equivalent balance of US$138.7 million. In addition, the Company was granted a clean facility line amounting to US$15 million from an international financial institution in February 2023.

**Statement from the Board Members and Senior Management:** 

Dr. Timothy Tong, chairman of the board of directors and independent director of AMTD Digital, commented, "The six-month period that ended on October 31, 2022 was filled with challenges arising from the COVID pandemic and geopolitical tensions around the world. Despite having to face such strong head-wind that was not conducive to business growth, AMTD Digital achieved a nearly 132% net profit growth as compared to the same period a year earlier and was successfully listed on the New York Stock Exchange on July 15, 2022. Further, the management of AMTD Digital has positioned the company for further business growth through strategic investments into the digital entertainment and life style sectors, combining multi-media channels, intellectual properties and digital tools to provide VIP services to customers. I thank the management for working so diligently and am cautiously optimistic about the future prospect for strong performance by the company."

Dr. Feridun Hamdullahpur, chairman of AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and an independent director of AMTD Digital, commented, "I am pleased to see very strong performance by AMTD Digital delivering solid results for the six months ended October 31, 2022. AMTD Digital has shown resilience, perseverance, and a great deal of creativity moving the company solidly and confidently forward through global turbulent waters. I congratulate the leadership team for their dedication, commitment and hard work."

Mr. Mark Lo, CEO and director of AMTD Digital, commented, "For most part of 2022 our markets continued to be affected by the ongoing COVID pandemic and travel restrictions, geopolitical tensions and rising U.S. interest rates environment. However, we are delighted to report that our business growth remained solid, with interim results demonstrating an over 130% net profit growth against a challenging macro backdrop. Our company also achieved a significant milestone in July 2022 which was the successful listing on the New York Stock Exchange amid an overall challenging environment in the capital markets. Post IPO we continued to demonstrate our ambition and commitment to expansion, with recent developments to strengthen our presence into the digital media and entertainment segment, including various film productions. Lastly, I would like to thank the board for its support and guidance and also the strong commitment from the management team. I would also like to take this opportunity to express my gratitude to our shareholders, business partners and clients for their support and business opportunities."

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**Interim Financial Results for the Six Months Ended October 31, 2022** 

*Revenue* 

Our revenue from contracts with customers increased from HK$101.4 million for the six months ended October 31, 2021 to HK$109.3 million (US$13.9 million) for the six months ended October 31, 2022, primarily due to the expansion of the following businesses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Digital financial services.</u> Our commission income from the digital financial services segment increased
from HK$3.7 million for the six months ended October 31, 2021 to HK$4.6 million (US$0.6 million) for the six months ended October 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Digital solutions.</u> Our fee income from the digital solutions segment increased from HK$97.5 million
for the six months ended October 31, 2021 to HK$100.7 million (US$12.8 million) for the six months ended October 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Corporate.</u> Our digital media, content, and marketing services income from corporate segment increased from
HK$0.2 million for the six months ended October 31, 2021 to HK$4.0 million (US$0.5 million) for the six months ended October 31, 2022.

*Employee benefits expense* 

Our employee benefits expense decreased by 13.5% from HK$34.1 million for the six months ended October 31, 2021 to HK$29.5 million (US$3.7 million) for the six months ended October 31, 2022, primarily due to the decrease in share-based payment expense.

*Advertising and promotion expense* 

Our advertising and promotion expense decreased by 19.4% from HK$3.1 million for the six months ended October 31, 2021 to HK$2.5 million (US$0.3 million) for the six months ended October 31, 2022 mainly due to a decrease in third-party media sponsorship during the six months ended October 31, 2022 as we successfully developed and evolved into a global media company.

*Premises and office expenses* 

Our premises and office expenses increased by 8.6% from HK$3.5 million for the six months ended October 31, 2021 to HK3.8 million (US$0.5 million) for the six months ended October 31, 2022 mainly due to our business expansion in the six months ended October 31, 2022.

*Legal and professional fee* 

Our legal and professional fee decreased by 5.1% from HK$9.9 million for the six months ended October 31, 2021 to HK$9.4 million (US$1.2 million) for the six months ended October 31, 2022 mainly due to decrease in legal and professional fee as our listing was completed in July 2022.

*Depreciation and amortization* 

Our depreciation and amortization expenses remained steadily at HK$3.3 million (US$0.4 million) for the six months ended October 31, 2022.

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*Changes in fair value on financial assets measured at fair value through profit or loss ("FVTPL")* 

Our changes in fair value on financial assets measured at FVTPL was HK$0.3 million in the six months ended October 31, 2021, compared to HK$2.7 million (US$0.3 million) in the six months ended October 31, 2022, primarily due to the unrealized gain from certain investments in the six months ended October 31, 2022.

*Interest income from notes receivable* 

Our interest income from notes receivable of HK$24.2 million (US$3.1 million) was recorded for the six months ended October 31, 2022 due to the new notes issued by counter-parties in arm's length transactions after October 31, 2021.

*Income tax expense* 

We incurred income tax expense of HK$11.4 million and HK$13.6 million (US$1.7 million) for the six months ended October 31, 2021 and 2022, respectively. The increase in our income tax expense was attributable to an increase in assessable profits in the six months ended October 31, 2022.

*Profit for the period* 

As a result of the foregoing, our profit increased from HK$36.1 million for the six months ended October 31, 2021 to HK$83.7 million (US$10.7 million) for the six months ended October 31, 2022.

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**Exchange rate** 

The Company's business is mainly conducted in Hong Kong and most of its revenues generated are denominated in Hong Kong dollars. This announcement contains translations of Hong Kong dollars into U.S. dollars solely for the convenience of the reader. Unless otherwise noted, all translations from Hong Kong dollars to U.S. dollars are made at a rate of HK$7.8498 to US$1.00, the exchange rate in effect as of October 31, 2022 as set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. No representation is made that the Hong Kong dollar amounts could have been, or could be, converted, realized, or settled into U.S. dollars at that rate on October 31, 2022, or at any other rate.

**About AMTD Digital Inc.** 

AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform in Asia. Its one-stop digital solutions platform operates four main business lines including digital financial services, digital solutions, digital media, content and marketing, as well as digital investments. It is the fusion reactor at the core of the AMTD SpiderNet ecosystem and empowers and integrates the various digital businesses within its ecosystem. For AMTD Digital Inc.'s announcements, please visit <u>https://ir.amtdigital.net/investor-news</u>.

**Safe Harbor Statement** 

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD Digital, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD Digital with the SEC. All information provided in this press release is as of the date of this press release, and AMTD Digital does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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AMTD DIGITAL INC.

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR

LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED OCTOBER 31, 2021 AND 2022

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| | | | |
|:---|:---|:---|:---|
|  | **For the Six Months Ended October 31,** | **For the Six Months Ended October 31,** | **For the Six Months Ended October 31,** |
|  | **2021** | **2022** | **2022** |
|  | **HK$** | **HK$** | **US$** |
|  | **(in thousands, except for percentages and per share data)** | **(in thousands, except for percentages and per share data)** | **(in thousands, except for percentages and per share data)** |
|  Revenue from contracts with customers | 101357 | 109254 | 13918 |
|  Employee benefits expense | (34078) | (29525) | (3761) |
|  Advertising and promotion expense | (3118) | (2494) | (318) |
|  Premises and office expenses | (3518) | (3783) | (482) |
|  Legal and professional fee | (9911) | (9412) | (1199) |
|  Depreciation and amortization | (3293) | (3304) | (421) |
|  Other expenses | (888) | (3910) | (498) |
|  Changes in fair value on financial assets measured at FVTPL | 301 | 2756 | 351 |
|  Interest income from notes receivable |  | 24245 | 3089 |
|  Other income | 511 | 13840 | 1763 |
|  Other gains and losses, net | 196 | (332) | (42) |
|  **Profit before tax** | 47559 | 97335 | 12400 |
|  Income tax expense | (11427) | (13588) | (1731) |
|  **Profit for the period** | 36132 | 83747 | 10669 |
|  Item that may be reclassified subsequently to profit or loss: |  |  |  |
|  Exchange differences arising on translation of foreign operations | (643) | (425) | (54) |
|  Other comprehensive expense for the period | (643) | (425) | (54) |
|  **Total comprehensive income for the period** | 35489 | 83322 | 10615 |
|  Profit (loss) for the period attributable to: |  |  |  |
|  - Owners of the Company | 40890 | 87019 | 11086 |
|  - Non-controlling interests | (4758) | (3272) | (417) |
|  | 36132 | 83747 | 10669 |
|  Total comprehensive income (expense) for the period attributable to: |  |  |  |
|  - Owners of the Company | 40562 | 86867 | 11067 |
|  - Non-controlling interests | (5073) | (3545) | (452) |
|  | 35489 | 83322 | 10615 |
|  Earnings per share |  |  |  |
|  - Basic (HK$) | 0.61 | 1.21 | 0.15 |
|  - Diluted (HK$) | 0.60 | 1.21 | 0.15 |

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AMTD DIGITAL INC.

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS AT APRIL 30, 2022 AND OCTOBER 31, 2022

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| | | | |
|:---|:---|:---|:---|
|  | **As of April 30,** | **As of October 31,** | **As of October 31,** |
|  | **2022** | **2022** | **2022** |
|  | **HK$** | **HK$** | **US$** |
|  | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  **ASSETS** |  |  |  |
|  **Non-current assets** |  |  |  |
|  Goodwill | 58675 | 58675 | 7475 |
|  Property, plant and equipment | 126 | 102 | 12 |
|  Intangible assets | 36418 | 33123 | 4220 |
|  Financial assets at FVTPL | 150134 | 190367 | 24251 |
|  Total non-current assets | 245353 | 282267 | 35958 |
|  **Current assets** |  |  |  |
|  Accounts receivable | 39545 | 75692 | 9643 |
|  Prepayments and other receivables | 289910 | 12172 | 1551 |
|  Amount due from AMTD Group | 2522653 | 2812620 | 358305 |
|  Fiduciary bank balances | 11669 | 12088 | 1540 |
|  Cash and cash equivalents | 112516 | 1089132 | 138746 |
|  Total current assets | 2976293 | 4001704 | 509785 |
|  **Total assets** | 3221646 | 4283971 | 545743 |
|  **EQUITY AND LIABILITIES** |  |  |  |
|  **Current liabilities** |  |  |  |
|  Clients' monies held on trust | 6650 | 6870 | 875 |
|  Accounts payable | 80 | 90 | 11 |
|  Other payables and accruals | 27043 | 38421 | 4895 |
|  Contract liabilities | 41523 | 19682 | 2507 |
|  Income tax payable | 31810 | 13757 | 1753 |
|  Total current liabilities | 107106 | 78820 | 10041 |
|  **Non-current liabilities** |  |  |  |
|  Contract liabilities | 5317 | 1111 | 142 |
|  Deferred tax liability | 5771 | 5221 | 665 |
|  Total non-current liabilities | 11088 | 6332 | 807 |
|  Total liabilities | 118194 | 85152 | 10848 |
|  **Capital and reserves** |  |  |  |
|  Share capital | 52 | 59 | 8 |
|  Reserves | 3083933 | 4182838 | 532859 |
|  Non-controlling interests | 19467 | 15922 | 2028 |
|  Total equity | 3103452 | 4198819 | 534895 |
|  **Total equity and liabilities** | 3221646 | 4283971 | 545743 |

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