第 1 頁 共 10 頁 v 1.1.1 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 大中華控股(香港)有限公司 | | | | 呈交日期: | 2025年10月3日 | | | | I. 法定/註冊股本變動 不適用 | | | | FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00021 | | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 3,975,233,406 | | 0 | | 3,975 ...

GREAT CHINA HOLDINGS (HONG KONG) LIMITED ⟥ᳫ劭㉥佟桗㳭 㗇攎⊶ (Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） Please note that by completing and returning the Request Form to request for the printed version(s) of the Current Corporate Communications, you will expressly indicate that your instruction to receive printed version(s) will apply to all future Corporate Communications(2) of the Company to be sent to you until you notify the Share Registrar to the contrary or you cease to hold any shares o ...

GREAT CHINA HOLDINGS (HONG KONG) LIMITED ⟥ᳫ劭㉥佟桗㳭 㗇攎⊶ (Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock Code: 21) （股份代號：21） NOTIFICATION LETTER 通知信函 30 September 2025 Dear Shareholders, Great China Holdings (Hong Kong) Limited (the "Company") – Notice of Publication of 2025 Interim Report (the "Current Corporate Communications") English and Chinese versions of the Current Corporate Communications are available on, and may be accessed under the heading "Investor Relations" section of th ...

Revenue and Profitability - Revenue for the six months ended June 30, 2025, was HKD 26,026,000, a significant increase from HKD 5,180,000 in the same period of 2024, representing a growth of 401%[2] - Gross profit for the same period was HKD 7,484,000, compared to HKD 3,179,000 in 2024, indicating a gross margin improvement[2] - The company reported a net loss of HKD 43,586,000 for the six months ended June 30, 2025, compared to a profit of HKD 8,121,000 in 2024[2] - The total comprehensive income for the period was HKD 5,306,000, recovering from a loss of HKD 31,957,000 in the previous year[2] - Property sales contributed HKD 20,724,000 to the revenue, while property management income was HKD 4,694,000, compared to HKD 4,390,000 in 2024, indicating an increase of 6.9%[17] - The company recorded a revenue of approximately HKD 26,030,000 for the six months ended June 30, 2025, representing an increase of about 402% compared to HKD 5,180,000 for the same period last year[45] Assets and Liabilities - Non-current assets increased to HKD 1,324,870,000 as of June 30, 2025, up from HKD 1,283,992,000 at the end of 2024[3] - Current assets totaled HKD 812,807,000, slightly up from HKD 801,867,000 in 2024[3] - The company's total liabilities increased to HKD 1,174,668,000, compared to HKD 1,132,326,000 in the previous year[4] - Cash and bank balances decreased to HKD 13,665,000 from HKD 32,760,000 at the end of 2024, indicating a liquidity challenge[3] - The company reported total trade receivables of HKD 2,010,000 as of June 30, 2025, a decrease from HKD 2,844,000 as of December 31, 2024, indicating a reduction of 29.2%[29] - The company’s prepayments, deposits, and other receivables increased to HKD 19,064,000 as of June 30, 2025, compared to HKD 12,476,000 as of December 31, 2024, marking a rise of 52.9%[31] - The company’s construction in progress amounted to HKD 193,815,000 as of June 30, 2025, reflecting a slight increase from HKD 187,330,000 at the beginning of the period[24] - The company’s development properties held at cost increased to HKD 594,424,000 as of June 30, 2025, from HKD 573,263,000 at the beginning of the period, an increase of 3.7%[28] Cash Flow and Financing - The net cash outflow from operating activities was HKD 17,595,000 for the six months ended June 30, 2025, compared to an outflow of HKD 7,641,000 in 2024[7] - The net cash flow from financing activities for the six months ended June 30, 2025, was a negative HKD 2,552,000, contrasting with a positive HKD 8,080,000 in the same period of 2024[8] - The cash and cash equivalents decreased by HKD 6,143,000, resulting in a closing balance of HKD 684,000 as of June 30, 2025, down from HKD 10,260,000 in 2024[8] - The company reported a net cash outflow of HKD 6,143,000 for the period, compared to an outflow of HKD 4,721,000 in 2024, indicating a worsening liquidity position[8] Expenses and Costs - The finance costs for the six months ended June 30, 2025, totaled HKD 545,000, a decrease of 14.6% from HKD 638,000 in the same period of 2024[18] - Employee costs, including directors' remuneration, amounted to HKD 8,911,000, a decrease of 6.8% from HKD 9,558,000 in 2024[19] - The cost of sold properties was HKD 16,111,000 for the six months ended June 30, 2025, with no corresponding cost reported in the same period of 2024[19] - The interest income from banks was HKD 18,000, a significant decrease from HKD 224,000 in the same period of 2024[17] - Employee costs for the six months ended June 30, 2025, were approximately HKD 8,040,000, down from HKD 8,690,000 for the same period in 2024, representing a decrease of about 7.48%[62] Taxation - The company reported a total income tax expense of HKD 6,378,000 for the six months ended June 30, 2025, compared to HKD 1,228,000 for the same period in 2024, representing a significant increase of 420%[21] Shareholder Information - The company recorded a loss attributable to owners of the company of HKD 43.6 million for the six months ended June 30, 2025, compared to a profit of HKD 8.1 million for the same period in 2024, resulting in a basic and diluted loss per share of HKD (1.10) compared to HKD 0.20[23] - The company has not recommended the payment of an interim dividend for the six months ended June 30, 2025, consistent with the previous period[22] - The company has issued and fully paid 3,975,233,406 ordinary shares, with a total capital of HKD 983,266,000 as of June 30, 2025[34] Projects and Developments - The company has commenced the development of the Jinliwan project, with a total construction area of approximately 430,000 square meters, and has obtained a pre-sale permit for the first phase[46] - The company is actively discussing the overall planning of the Tanghai County project with local government authorities due to the designation of the project area as a nature reserve[48] - The total property sales from the Jinbao City project reached approximately HKD 20,720,000 for the six months ending June 30, 2025, with no sales recorded for the same period in 2024[51] - As of June 30, 2025, contract liabilities from pre-sales of the Jinbao City project amounted to approximately HKD 59,000,000, an increase from HKD 52,260,000 as of December 31, 2024[51] - The total land area for the Honghai Bay project is approximately 273,534.2 square meters, but development has been suspended while the company reassesses the project's positioning[52] - The company has made a provision of approximately RMB 14,000,000 (equivalent to about HKD 15,800,000) for claims related to construction costs from the Honghai Bay project[52] - The company is pursuing a claim for shareholder loans amounting to approximately RMB 123,900,000 (equivalent to about HKD 134,200,000) against its joint venture partner in the Heqing project[54] Corporate Governance - The company has confirmed the renewal of property lease agreements for two years starting April 1, 2025[55] - The company fully complied with the corporate governance code as outlined in the listing rules during the six months ended June 30, 2025[69] - The audit committee consists of three independent non-executive directors, chaired by Mr. Zheng Kangqi[72] - The interim results for the six months ending June 30, 2025, have been reviewed by the audit committee[72] - The board of directors includes executive director Mr. Huang Shizai (Chairman) and Ms. Huang Wenxi (CEO)[74]

Group 1 - The CEO of Great China Holdings, Huang Wenxi, reduced his stake by selling 3.05 million shares at a price of HKD 0.1022 per share, totaling approximately HKD 311,700 [1] - After the sale, the CEO's remaining shareholding is about 628 million shares, representing a 15.79% ownership stake in the company [1]

Group 1 - The latest data from the Hong Kong Stock Exchange indicates that on September 10, Huang Wenxi reduced his stake in China Grand Holdings (00021) by 805,000 shares at an average price of HKD 0.1163 per share, totaling approximately HKD 93,600 [1] - Following the reduction, the latest number of shares held by Huang Wenxi is approximately 632 million, representing a holding percentage of 15.90% [1]

Group 1 - The core point of the article is that Huang Wenxi has reduced his stake in Great China Holdings by selling 805,000 shares at an average price of HKD 0.1163 per share, totaling approximately HKD 93,600 [1] - After the reduction, the latest number of shares held by Huang Wenxi is approximately 632 million, representing a holding percentage of 15.90% [1]

Group 1 - The core point of the article highlights the transfer of shares of Great China Holdings (00021) from Guotai Junan (Hong Kong) to Futu Securities International Hong Kong, with a market value of HKD 31.98 million, representing 7.12% of the total shares [1] - Great China Holdings reported a revenue of HKD 26.03 million for the six months ending June 30, 2025, reflecting a significant year-on-year increase of 402.4% [1] - The company recorded a loss attributable to shareholders of HKD 43.59 million, compared to a profit of HKD 8.12 million in the same period last year, with a basic loss per share of HKD 0.011 [1] Group 2 - The increase in revenue is primarily attributed to the higher delivery area of property sales during the reporting period [1]

Core Viewpoint - The recent stock transfer of Dazhong Holdings indicates a strategic shift in shareholder investment, while the company's financial performance shows significant revenue growth but also a substantial loss compared to the previous year [1] Financial Performance - Dazhong Holdings reported a revenue of HKD 26.026 million for the six months ending June 30, 2025, representing a year-on-year increase of 402.4% [1] - The company recorded a loss attributable to shareholders of HKD 43.586 million, contrasting with a profit of HKD 8.121 million in the same period last year [1] - The basic loss per share was HKD 0.011 [1] Shareholder Activity - On September 12, shareholders transferred shares from Guotai Junan (Hong Kong) to Futu Securities International Hong Kong, with a transfer value of HKD 31.9805 million, accounting for 7.12% of the company's shares [1]

Core Viewpoint - The multinational acquisition deal involving Shanghai Electric and KES Energy, valued at approximately $1.77 billion, has been terminated after nine years of negotiations due to unmet conditions and changes in the business environment in Pakistan [2][4]. Group 1: Acquisition Process and Termination - The acquisition process began in August 2016, with the National Development and Reform Commission confirming the project [3]. - Throughout 2017 and 2018, Shanghai Electric and KES Energy established a transitional management committee to facilitate the deal, while also preparing for the acquisition by improving KE's operational and technical management [3]. - In 2018, changes in the pricing mechanism by Pakistan's National Electric Power Regulatory Authority significantly impacted KE's profitability and valuation, leading to a renegotiation of the deal [3]. - Ultimately, on September 9, 2023, Shanghai Electric decided to terminate the acquisition due to the failure to meet the closing conditions and the unsuitability of the deal for the company's international development strategy [4]. Group 2: Company Performance and Future Plans - As of June 30, 2025, Shanghai Electric's installed capacity reached 25.8013 million kilowatts, with clean energy accounting for 61.83% of the total capacity [5]. - The company's stock price has increased by 133.90% this year, and its half-year report for 2025 showed total revenue of 20.475 billion yuan, a year-on-year increase of 1.76%, and a net profit of 1.909 billion yuan, up 43.85% year-on-year [5]. - Despite the challenges with the KE acquisition, Shanghai Electric has demonstrated its capability in overseas project development, being a major player in Japan and Hungary [5]. - The company has made significant progress in international projects, including the successful completion of the Fukushima Phase II solar project and ongoing developments in Serbia, Romania, and Greece [6]. - Shanghai Electric is also expanding its clean energy projects domestically, with several wind and solar projects achieving full capacity [6]. - Recent investment decisions include a 500,000-kilowatt offshore solar project in Shanghai and a 400,000-kilowatt wind project in Heilongjiang, with total investments not exceeding 3.78 billion yuan and 2.261 billion yuan, respectively [6].