航天控股(00031)公布，预期于截止2025年6月30日六个月取得净亏损约港币7500万元至港币9500万元， 而2024年同期则取得净亏损港币5909.3万元 ;预期期内收入约港币20亿元，与2024年同期相比增加约 10%。 公告称，期内净亏损进一步扩大的主要原因是中国内地商业地产 租赁需求下降，导致公司投资物业公 允价值下降所产生的亏损较2024年同期有所增加，而期内收入的增加则主要源自公司科技工业业务收入 的增长。 ...

期内净亏损进一步扩大的主要原因是中国内地商业地产租赁需求下降，导致公司投资物业公允价值下降 所产生的亏损较2024年同期有所增加，而期内收入的增加则主要源自公司科技工业业务收入的增长。 格隆汇8月19日丨航天控股(00031.HK)个公布，预期于截止2025年6月30日六个月录得净亏损约港币7500 万元至港币9500万元，而2024年同期则录得净亏损港币5909.3万元；预期期内收入约港币20亿元，与 2024年同期收入港币18.25亿元相比增加约10%。 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司對本公 告 之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公 告 全部或任何部分內 容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 CHINA AEROSPACE INTERNATIONAL HOLDINGS LIMITED 中國航天國際控股有限公司 本公司股東及潛在投資者於買賣本公司股份時，務請審慎行事。 由於本 公 司 仍在落實其於 期 內 的未經審核綜合中期業績，本公告所 載資料僅根據董事 局 對 本 公 司 於期內之未經審核 綜 合 管 理 賬 目作出 之初步評估以及本公司現時可得之其他資料而作出，該等資料未經 本公司之獨立核數師（「 核數師 」）或本公司審核委員會（「 審 核 委員會 」 ） 確 認 或審閱，且可能於進一步審閱時作出調整。 具體的業績數據在核數師完成審閱及審核委員會和董事局批准後 將 於 2025年 8月 27日 公 佈 。 -1- （於香港註冊成立的有限公司） （股份代號： 31） 內幕消息 盈利警告 本公告乃中國航天國際控股有限公司（「本公司」）根據香港法例 第 571章證券及期貨條例第 XI ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公 告 的 內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公 告 全部或 任何部 份 內容而產生或因依賴該等內容而引致 的 任何損失承擔任何責任。 執行董事 非執行董事 獨立非執行董事 CHINA AEROSPACE INTERNATIONAL HOLDINGS LIMITED 中國航天國際控股有限公司 （於香港註冊成立的有限公司） （股份代號：31） 董事局會議日期 中國航天國際控股有限公司董事局公佈，將 於 2025年 8月 27日（ 星 期 三 ）舉行董事局會議，藉以（ 其中包括 ）審議、討論及批准本 公司及各附屬公司截止 2025年 6月 30日 六個月 未經審核的中期業 績 ， 以及考慮派發中期股息（如 有 ） 。 承董事局命 主 席 兼 執行董事 王 暉 香港，2025年8月8日 於刊發本公告之日，本公司董事局的成員為： 彭建國 先 生 陳靜茹女士 劉 永 先 生 薛蘭女士 王 暉 先 生 （主席） 宋樹清 先 生 （總裁） 滕方遷 先 生 羅振邦先生 ...

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7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國航天國際控股有限公司 | | | 呈交日期: | 2025年7月31日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 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) | 00031 | 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 | | | 3,085,021,882 | | 0 | | 3,085,021,882 | | 增加 / 減少 (-) | | | ...

Financial Performance - The company's revenue for 2024 increased by 11.32% compared to 2023, reaching HKD 3,841,472,000[6] - The net loss for the year was HKD 83,853,000, compared to a net loss of HKD 1,765,000 in 2023[6] - The loss attributable to shareholders was HKD 53,307,000, a significant decline from a profit of HKD 4,047,000 in 2023[6] - The basic loss per share for the year was HKD 1.73 cents, compared to earnings of HKD 0.13 cents per share in 2023[6] - The company's revenue for the year ended December 31, 2024, was HKD 3,841,472,000, an increase of 11.32% compared to HKD 3,450,954,000 in 2023[16] - The net loss for the year was HKD 83,853,000, a significant increase from a net loss of HKD 1,765,000 in 2023[16] - The loss attributable to shareholders was HKD 53,307,000, a substantial change from a profit of HKD 4,047,000 in 2023[17] - The basic loss per share was HKD 0.0173, compared to a basic earnings per share of HKD 0.0013 in 2023[18] Dividend Policy - The company decided not to recommend a final dividend for 2024, consistent with the previous year[7] - The company will not recommend a final dividend for the year 2024, consistent with the previous year[19] - The company’s dividend policy reflects the board's opinion on the financial and cash flow status, with no guarantee of specific dividend payments in any designated period[90] Business Strategy and Operations - The company is focusing on optimizing business and product structures to respond to market competition and demand[8] - New capacity construction projects at Nantong Kangyuan Circuit Technology Co., Ltd. are progressing smoothly, with the integrated circuit packaging plant completed and entering trial production[9] - The company plans to develop a five-year strategic plan to enhance core competitiveness and sustainable development capabilities[12] - The company will continue to optimize resource allocation and improve management efficiency[11] - The company plans to continue expanding its customer base and exploring new business opportunities while optimizing production quality and cost management[25] Financial Position - As of December 31, 2024, total assets decreased by 2.07% to HKD 14,281,314,000 compared to HKD 14,583,284,000 in 2023[31] - The company's equity attributable to shareholders decreased by 3.47% to HKD 7,154,386,000 from HKD 7,411,477,000 at the end of 2023[32] - Non-current liabilities decreased by 4.58% to HKD 3,515,843,000, while current liabilities increased by 15.52% to HKD 1,649,182,000[33] - The administrative expenses for 2024 were HKD 401,471,000, an increase of 1.64% compared to the previous year[35] - Cash and cash equivalents as of December 31, 2024, amounted to HKD 1,497,130,000[38] - The company has unprovided capital commitments of approximately HKD 437,360,000 for the acquisition of fixed assets as of December 31, 2024[39] Employee and Management - The company has a total of 7,009 employees distributed across mainland China, Hong Kong, and Vietnam as of December 31, 2024[42] - The board of directors for the company in 2024 includes executive directors Wang Hui (Chairman), Zhou Limin (Chairman), and Song Shuqing (President), along with non-executive directors and independent non-executive directors[46] - The term for non-executive directors, including independent non-executive directors, is two years, subject to rotation and re-election as per the company's articles of association[47] - The company appointed three independent non-executive directors in 2024, including Luo Zhenbang, Chen Jingru, and Xue Lan, with no financial, business, or familial relationships among them[48] - The company has 8 board members in 2024, consisting of 6 male and 2 female directors, all holding university degrees and various professional qualifications[65] Governance and Compliance - The board of directors is responsible for determining the company's goals, strategies, policies, and risk management, while management is authorized to manage daily operations[51] - The company has established various committees under the board, including the Audit Committee, Remuneration Committee, Nomination Committee, and ESG Committee, each with specific responsibilities[56] - The company has adopted a code of conduct for securities trading by directors and employees, prohibiting trading during specified periods before financial results announcements[49] - The company has implemented internal controls and risk management systems to monitor financial and governance conditions effectively[53] - The company has established a reporting policy to allow stakeholders to anonymously report any suspicious or improper behavior[163] Environmental, Social, and Governance (ESG) - The company emphasizes the importance of stakeholder communication and has conducted an ESG stakeholder engagement survey to assess current ESG performance, identifying key issues such as "product quality," "product safety," and "product innovation" as the top three priorities[95] - The board recognizes the significance of setting measurable ESG performance targets to ensure sustainable growth and corporate responsibility, particularly in managing energy and water consumption, emissions, and waste[98] - The company aims to align its sustainability strategies with industry best practices and stakeholder expectations, addressing challenges such as market changes and regulatory requirements[98] - The company has established various management systems for environmental protection, including energy management and waste management protocols, in compliance with local regulations[111] - The company has achieved ISO 14001 environmental management system certification to minimize its operational impact on the environment and natural resources[130] Community Engagement and Social Responsibility - The company actively engages in community service and encourages employee participation in social initiatives[159] - The community investment metrics included 80 participants contributing 7 hours in charitable activities[159] - Community investment resources were allocated, focusing on areas such as education, health, and culture[172] Product Quality and Customer Satisfaction - The company emphasizes product and service quality, ensuring compliance with relevant regulations and standards throughout the production process[153] - A comprehensive product quality inspection mechanism is in place, covering incoming materials, manufacturing processes, and outgoing products to enhance market competitiveness[155] - The company has implemented a customer feedback mechanism to promptly address product complaints and enhance customer satisfaction[148] - The total number of product complaints received in 2024 was 601, an increase from 513 in 2023, primarily related to product appearance[157] - The company achieved a 0% recall rate for products sold or shipped due to safety and health reasons in both 2023 and 2024[158] Innovation and Research - The company is investing $50 million in research and development for new technologies aimed at enhancing product efficiency[177] - New product launches are expected to contribute an additional $300 million in revenue over the next fiscal year[180] - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $200 million allocated for potential deals[179] Market Performance and Outlook - The company provided an optimistic outlook, projecting a revenue growth of 25% for the next quarter, aiming for $1.875 billion[179] - Market expansion plans include entering three new international markets by Q3 2024, targeting a 10% increase in global market share[178]

Financial Performance - The group's revenue for the year ended December 31, 2024, was HKD 3,841,472,000, representing an increase of 11.3% compared to HKD 3,450,954,000 in 2023[4] - Gross profit for the year was HKD 807,854,000, up 15.3% from HKD 700,717,000 in the previous year[4] - The company reported a net loss of HKD 83,853,000 for the year, compared to a loss of HKD 1,765,000 in 2023[5] - The earnings per share for the year were a loss of HKD 0.13, compared to a loss of HKD 1.73 in 2023[5] - The group reported a pre-tax loss of HKD 53,307,000 for 2024, compared to a profit of HKD 4,047,000 in 2023, indicating a substantial decline in profitability[21] - The loss attributable to shareholders was HKD 53,307,000, a substantial change from the profit of HKD 4,047,000 in 2023[34] Expenses and Costs - Research and development expenses increased to HKD 189,661,000, a rise of 16.8% from HKD 162,388,000 in 2023[4] - The company incurred finance costs of HKD 53,409,000, down from HKD 60,818,000 in the previous year, indicating a decrease of 12.3%[4] - Total comprehensive expenses for the year amounted to HKD 354,671,000, compared to HKD 252,003,000 in 2023, reflecting an increase of 40.7%[6] - The company's administrative expenses were HKD 401,471,000, slightly up from HKD 394,991,000 in the previous year, reflecting a 1.4% increase[4] - The group’s employee costs, including director remuneration, amounted to HKD 839,757,000 in 2024, compared to HKD 818,854,000 in 2023, indicating a slight increase in labor expenses[17] Assets and Liabilities - Total assets decreased from HKD 13,155,636 thousand in 2023 to HKD 12,632,132 thousand in 2024, a decline of approximately 4.0%[7] - Total liabilities increased from HKD 1,427,648 thousand in 2023 to HKD 1,649,182 thousand in 2024, representing a rise of about 15.5%[8] - The company's equity attributable to shareholders decreased from HKD 7,411,477 thousand in 2023 to HKD 7,154,386 thousand in 2024, a decrease of approximately 3.5%[8] - Cash and cash equivalents decreased from HKD 1,509,144 thousand in 2023 to HKD 1,154,546 thousand in 2024, a decline of about 23.5%[7] - The total liabilities as of December 31, 2024, were HKD 5,165,025,000, reflecting a 1.03% increase from HKD 5,112,324,000 in 2023[52] Revenue Segmentation - The technology segment generated revenue of HKD 3,673,852 thousand, with significant contributions from injection molding products (HKD 1,685,836 thousand) and LCD displays (HKD 651,193 thousand)[12] - The aerospace services segment reported revenue of HKD 218,894 thousand, which includes property investments in the Shenzhen Aerospace Technology Plaza[12] - The intelligent charging segment reported a revenue of HKD 286,389 thousand, showing a strong market demand despite a slight loss of HKD 178 thousand[12] - The intelligent power module segment generated revenue of HKD 17,424 thousand, but faced a significant loss of HKD 30,912 thousand, indicating potential issues in cost management[12] - The company's revenue for 2024 increased by 11.32% compared to 2023, reaching HKD 3,841,472,000[26] Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance future growth prospects[12] - The company is focusing on business transformation and exploring new economic growth points to enhance core competitiveness and sustainable development[32] - The company is actively investing in product development and technology research to improve product quality and future profitability[40] - The company is actively expanding its market presence and optimizing its rental strategy to enhance brand influence despite challenges in the Shenzhen office market[29] - New capability construction projects, including the integrated circuit packaging plant, are progressing well, with the construction completed by May 2024[30] Legal and Compliance - The company has resolved legal disputes related to minority interests in subsidiaries, resulting in a reversal of previously accrued provisions, which is expected to have no impact in 2024[16] - The company is actively pursuing litigation to protect its rights, with expected payments from litigation amounting to approximately RMB 22,000,000 and RMB 11,000,000 from various parties[45][46] - The company has submitted its annual consolidated financial statements for the year ending December 31, 2023, and will submit the statements for the year ending December 31, 2024, before the deadline set by the Hong Kong Companies Registry[66] Dividend Policy - The company decided not to declare a final dividend for the year ending December 31, 2024, following no dividend declared for 2023[26] - The board of directors decided not to recommend a final dividend for the year ended December 31, 2024, maintaining the same stance as the previous year[65] Auditor and Governance - The company’s auditor has issued an unqualified opinion on the financial statements for the years ending December 31, 2023, and December 31, 2024[66] - The company has expressed gratitude to its employees for their hard work and loyalty, as well as to shareholders, banks, business partners, and the community for their support[73] - The company has announced changes in its board of directors, with new appointments following the resignations of several members due to personal and retirement reasons[72]

[Chairman's Report](index=4&type=section&id=Chairman%27s%20Report) [Performance Summary](index=4&type=section&id=Performance%20Summary) In the first half of 2024, the company's operating revenue increased by 5.26% year-on-year, but due to factors like fair value changes of investment properties, the company turned from profit to loss, with loss attributable to shareholders of **HKD 28.58 million**; the Board decided not to declare an interim dividend to meet future capital needs 2024 First Half Key Performance Indicators | Indicator | H1 2024 | H1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (HKD billion) | 1.825 | 1.734 | +5.26% | | Net (Loss)/Profit (HKD million) | (59.09) | 55.07 | Turned from profit to loss | | (Loss)/Profit Attributable to Shareholders (HKD million) | (28.58) | 45.51 | Turned from profit to loss | | Basic (Loss)/Earnings Per Share (HKD cents) | (0.93) | 1.48 | Turned from profit to loss | | Interim Dividend | None | None | Unchanged | [Business Review and Project Progress](index=4&type=section&id=Business%20Review%20and%20Project%20Progress) Despite a decline in overseas markets, the company's technology industrial business significantly increased operating profit by expanding domestic and international markets, while property leasing maintained occupancy and pursued rent arrears litigation, with new capacity projects like Nantong Kangyuan, IPM, and Huizhou Industrial Park progressing orderly - The technology industrial business achieved a significant increase in operating profit by stabilizing existing customers and expanding into new markets[8](index=8&type=chunk) - Shenzhen Aerospace Hi-Tech Investment Management Co., Ltd. maintained a certain occupancy rate despite increased office supply challenges and actively pursued rent arrears through legal channels[8](index=8&type=chunk) - Three major new capacity construction projects are progressing orderly: civil works for Nantong Kangyuan Integrated Circuit Packaging Substrate Plant were completed by end of May 2024; Intelligent Power Module (IPM) continues product and technology R&D; Huizhou Industrial Park Phase V plant has been completed and put into operation[8](index=8&type=chunk) [Outlook](index=6&type=section&id=Outlook) For the second half of 2024, the company anticipates challenges from rising protectionism due to trade wars and regional conflicts, and supply chain regional shifts, with the Board closely monitoring impacts on core businesses to drive high-quality development - In the second half of 2024, major economies are expected to lean towards protectionism, and supply chains and production lines will continue to shift regionally, posing challenges for enterprises[9](index=9&type=chunk) [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) [Performance Overview](index=7&type=section&id=Performance%20Overview) In the first half of 2024, the company's operating revenue increased by 5.26% to **HKD 1.825 billion**; however, a **HKD 200 million** loss from fair value changes of investment properties resulted in a net loss of **HKD 59.09 million**, turning from a net profit in the prior year - The company's turn from profit to loss was primarily due to a **HKD 200.457 million** loss from fair value changes of investment properties due to revaluation decreases[13](index=13&type=chunk) 2024 First Half Performance Overview | Indicator | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Operating Revenue (HKD thousand) | 1,824,756 | 1,733,548 | | Net (Loss)/Profit (HKD thousand) | (59,093) | 55,065 | | (Loss)/Profit Attributable to Shareholders (HKD thousand) | (28,578) | 45,506 | | Basic (Loss)/Earnings Per Share (HKD cents) | (0.93) | 1.48 | [Performance of Major Businesses](index=8&type=section&id=Performance%20of%20Major%20Businesses) The company's main businesses are technology industrial and property operations; technology industrial, as the revenue cornerstone, saw growth in both revenue and profit in the first half, with injection molding and PCB businesses doubling profits, while Shenzhen Aerospace Science and Technology Plaza property operations turned from profit to loss due to significant fair value losses on investment properties [Technology Industrial](index=9&type=section&id=Technology%20Industrial) The technology industrial business's operating revenue increased by 5.77% year-on-year to **HKD 1.725 billion** in the first half, with segment profit significantly up 64.88% to **HKD 59.69 million**, driven by strong performance in injection molding and PCB businesses, which saw operating profits increase by 178.27% and 331.39% respectively, while LCD business revenue and profit sharply declined due to weak market demand Technology Industrial Segment Performance (H1 2024) | Business Segment | Operating Revenue (HKD thousand) | YoY Change (%) | Operating Profit/(Loss) (HKD thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Injection Molding Products | 794,838 | +20.10% | 36,832 | +178.27% | | Printed Circuit Boards (PCBs) | 456,418 | +8.27% | 19,335 | +331.39% | | Smart Chargers | 137,580 | +20.63% | (1,872) | Loss narrowed | | Liquid Crystal Displays (LCDs) | 323,594 | -24.00% | 29,015 | -34.12% | | Intelligent Power Modules (IPM) | 7,764 | +134.14% | (13,676) | Loss narrowed | | **Total** | **1,725,355** | **+5.77%** | **59,688** | **+64.88%** | - The injection molding products business achieved a significant increase in profit by expanding domestic and international markets and a substantial turnaround by Vietnam Zhiyuan[17](index=17&type=chunk) - Civil works for Nantong Kangyuan Phase I plant have been completed, with trial production expected to commence by year-end, and further financing needs are being studied[18](index=18&type=chunk) [Shenzhen Aerospace Science and Technology Plaza](index=12&type=section&id=Shenzhen%20Aerospace%20Science%20and%20Technology%20Plaza) In the first half, Shenzhen Aerospace Science and Technology Plaza recorded operating revenue of **HKD 95.59 million**, a slight year-on-year decrease, and was severely impacted by a **HKD 185 million** loss from fair value changes of investment properties, leading to a segment loss of **HKD 127 million** from a profit in the prior year, with office occupancy improving but commercial occupancy declining at period-end Shenzhen Aerospace Science and Technology Plaza Performance and Operational Data | Indicator | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Operating Revenue (HKD million) | 95.59 | 99.26 | | Segment (Loss)/Profit (HKD million) | (127) | 48.80 | | Loss from Fair Value Change of Investment Properties (HKD million) | 185 | - | | **Occupancy Rate (Period-End)** | **June 30, 2024** | **December 31, 2023** | | Commercial Portion | 66.45% | 72.90% | | Office Portion | 50.87% | 41.00% | - Various lawsuits with major tenants Aerospace Houhai and Huabaorun have successively received first-instance judgments; the company has appealed parts not supported and will actively protect its rights and interests[19](index=19&type=chunk) [Other Businesses](index=13&type=section&id=Other%20Businesses) The company's associate, Shenzhen Ruihuatai Film Technology Co., Ltd., in which it holds a 23.38% stake, did not declare dividends during the reporting period, whereas in the prior year, the company received approximately **RMB 2.95 million** in dividends - Associate company Ruihuatai did not declare dividends during the period, compared to dividend income in the prior year[21](index=21&type=chunk) [Financial Position Analysis](index=13&type=section&id=Financial%20Position%20Analysis) As of June 30, 2024, the company's total assets and total liabilities both slightly decreased from end of 2023, with the gearing ratio remaining largely stable; asset decrease was mainly due to lower investment property valuations and exchange rate effects, while liability decrease was primarily due to repayment of some related party loans, and finance costs decreased by nearly 20% year-on-year [Asset Position](index=13&type=section&id=Asset%20Position) As of June 30, 2024, the company's total assets were **HKD 14.193 billion**, a 2.68% decrease from the beginning of the year, primarily due to the decline in investment property valuations and reduced translation due to RMB exchange rate changes; shareholders' equity was **HKD 7.230 billion**, and net asset value per share was **HKD 2.34** Changes in Asset Position | Asset Item (HKD thousand) | June 30, 2024 | December 31, 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 11,058,616 | 11,319,869 | -2.31% | | Current Assets | 3,134,498 | 3,263,415 | -3.95% | | **Total Assets** | **14,193,114** | **14,583,284** | **-2.68%** | - Net asset value per share attributable to shareholders was **HKD 2.34**[22](index=22&type=chunk) [Debt Position](index=14&type=section&id=Debt%20Position) As of June 30, 2024, the company's total liabilities were **HKD 4.981 billion**, a 2.58% decrease from the beginning of the year; non-current liabilities decreased due to repayment of some related party loans and exchange rate effects, while current liabilities increased due to higher trade payables Changes in Debt Position | Liability Item (HKD thousand) | June 30, 2024 | December 31, 2023 | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Liabilities | 3,501,222 | 3,684,676 | -4.98% | | Current Liabilities | 1,479,347 | 1,427,648 | +3.62% | | **Total Liabilities** | **4,980,569** | **5,112,324** | **-2.58%** | [Operating Expenses](index=14&type=section&id=Operating%20Expenses) In the first half of 2024, the company's administrative expenses were largely flat year-on-year at **HKD 198 million**; finance costs were **HKD 26.51 million**, a 19.57% year-on-year decrease - Administrative expenses were approximately **HKD 198 million**, similar to the prior year[25](index=25&type=chunk) - Finance costs were **HKD 26.51 million**, a **19.57%** year-on-year decrease[25](index=25&type=chunk) [Financial Ratios and Risk Management](index=15&type=section&id=Financial%20Ratios%20and%20Risk%20Management) The company's gearing ratio remained stable at around 35%, but current and quick ratios decreased; the company faces litigation with former major tenant Aerospace Houhai, with related claims classified as contingent liabilities and no provision made; the company currently does not use derivative instruments to hedge financial risks [Financial Ratios](index=15&type=section&id=Financial%20Ratios) As of June 30, 2024, the company's gearing ratio was 35.09%, largely stable compared to the beginning of the year; gross profit margin slightly increased to 20.18%; current and quick ratios decreased to 2.12 and 1.76 respectively Key Financial Ratios | Ratio | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Gearing Ratio | 35.09% | 35.06% | | Current Ratio | 2.12 | 2.29 | | Quick Ratio | 1.76 | 1.95 | | **Ratio** | **H1 2024** | **H1 2023** | | Gross Profit Margin | 20.18% | 20.13% | [Contingent Liabilities](index=15&type=section&id=Contingent%20Liabilities) The company faces claims of approximately **RMB 119 million** from former tenant Aerospace Houhai due to litigation (Aerospace Houhai Litigation II); despite losing at first instance, the company has appealed, and based on lawyer assessment, believes it has a high probability of winning and can net off with other successful cases, thus disclosing it as a contingent liability without provision - Aerospace Hi-Tech is facing claims of approximately **RMB 119 million** from its former tenant Aerospace Houhai, and has appealed after losing at first instance[26](index=26&type=chunk) - Based on lawyer assessment, the company believes there is a high probability of winning the appeal, and the claims can be netted off with other successful judgments, thus no provision has been made, and it is disclosed as a contingent liability[26](index=26&type=chunk) [Human Resources](index=16&type=section&id=Human%20Resources) As of June 30, 2024, the company and its subsidiaries had approximately **7,100 employees** across mainland China, Hong Kong, and Vietnam; the company's remuneration policy is based on employee qualifications, experience, performance, and market benchmarks, implementing a performance-centric appraisal system - As of June 30, 2024, the Group had approximately **7,100 employees** in total, distributed across mainland China, Hong Kong, and Vietnam[31](index=31&type=chunk) [Other Disclosures](index=18&type=section&id=Other%20Disclosures) [Major Shareholders](index=18&type=section&id=Major%20Shareholders) As of June 30, 2024, China Aerospace Science and Technology Corporation, through its wholly-owned subsidiary Burhill Company Limited, held **38.37%** of the company's issued share capital, making it the company's major controlling shareholder Major Shareholder Holdings | Shareholder Name | Capacity | Number of Shares Held | Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | China Aerospace Science and Technology Corporation | Interests in controlled corporations | 1,183,598,636 | 38.37% | | Burhill Company Limited | Beneficial owner | 1,183,598,636 | 38.37% | [Corporate Governance and Litigation](index=19&type=section&id=Corporate%20Governance%20and%20Litigation) During the reporting period, the company complied with the Corporate Governance Code; apart from the disclosed leasing litigation related to Aerospace Hi-Tech, the company had no other significant litigation, arbitration, or claims - The company has complied with the code provisions of Appendix C1 of the Listing Rules, the Corporate Governance Code, during the reporting period[37](index=37&type=chunk) - Apart from the publicly disclosed litigation between Aerospace Hi-Tech and its tenants, the company has no other significant litigation or arbitration[38](index=38&type=chunk) [Condensed Consolidated Financial Statements](index=22&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss](index=24&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) In the first half of 2024, the company recorded revenue of **HKD 1.825 billion**, a 5.3% year-on-year increase; however, a **HKD 200 million** loss from fair value changes of investment properties led to a pre-tax loss of **HKD 127 million**, resulting in a net loss of **HKD 59.09 million** for the period, with loss attributable to shareholders of **HKD 28.58 million** Condensed Consolidated Statement of Profit or Loss Summary | Item | H1 2024 (Unaudited, HKD thousand) | H1 2023 (Unaudited, HKD thousand) | | :--- | :--- | :--- | | Revenue | 1,824,756 | 1,733,548 | | Gross Profit | 368,238 | 349,016 | | Fair Value Change of Investment Properties | (200,457) | - | | (Loss)/Profit Before Tax | (127,228) | 57,254 | | (Loss)/Profit for the Period | (59,093) | 55,065 | | (Loss) Attributable to Company Shareholders | (28,578) | 45,506 | [Condensed Consolidated Statement of Financial Position](index=26&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2024, the company's total assets were **HKD 14.193 billion**, and total liabilities were **HKD 4.981 billion**; shareholders' equity was **HKD 7.230 billion**, a 2.45% decrease from the beginning of the year, mainly due to a reduction in exchange fluctuation reserve caused by the depreciation of RMB during the period Condensed Consolidated Statement of Financial Position Summary | Item | June 30, 2024 (Unaudited, HKD thousand) | December 31, 2023 (Audited, HKD thousand) | | :--- | :--- | :--- | | Non-current Assets | 11,058,616 | 11,319,869 | | Current Assets | 3,134,498 | 3,263,415 | | **Total Assets** | **14,193,114** | **14,583,284** | | Current Liabilities | 1,479,347 | 1,427,648 | | Non-current Liabilities | 3,501,222 | 3,684,676 | | **Total Liabilities** | **4,980,569** | **5,112,324** | | **Equity Attributable to Company Shareholders** | **7,229,548** | **7,411,477** | [Condensed Consolidated Statement of Cash Flows](index=30&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) In the first half of 2024, the company generated **HKD 138 million** net cash from operating activities; net cash outflow from investing activities was **HKD 468 million**, primarily for property, plant, and equipment acquisition; net cash outflow from financing activities was **HKD 54.57 million**; cash and cash equivalents decreased to **HKD 1.115 billion** at period-end Condensed Consolidated Statement of Cash Flows Summary | Item | H1 2024 (Unaudited, HKD thousand) | H1 2023 (Unaudited, HKD thousand) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 138,011 | 150,961 | | Net Cash Used in Investing Activities | (468,015) | (207,782) | | Net Cash Used in Financing Activities | (54,570) | (54,768) | | Net Decrease in Cash and Cash Equivalents | (384,574) | (111,589) | | Cash and Cash Equivalents at Period-End | 1,115,049 | 1,491,421 | [Summary of Notes to Financial Statements](index=32&type=section&id=Summary%20of%20Notes%20to%20Financial%20Statements) The notes to the financial statements detail accounting policies and data, highlighting that technology industrial business dominates segment revenue, a **HKD 200 million** fair value decrease in investment properties caused the loss, ongoing litigation with former tenants led to significant impairment provisions for lease receivables but contingent liability classification for counterclaims due to high probability of success, and significant related party loan transactions with major shareholder China Aerospace and its subsidiaries - Segment information shows that the technology industrial business contributed the vast majority of external sales revenue (**HKD 1.725 billion**), while aerospace services (Science and Technology Plaza) contributed **HKD 95.59 million**[63](index=63&type=chunk) - A **HKD 200.457 million** decrease in the fair value of investment properties, recognized directly in the statement of profit or loss, was a key factor contributing to the loss for the period[90](index=90&type=chunk) - As of June 30, 2024, total lease receivables were **HKD 298 million**, with a credit loss provision of **HKD 272 million**, primarily related to litigation with Aerospace Houhai and Huabaorun[92](index=92&type=chunk)[96](index=96&type=chunk) - The company has significant loans with related parties (major shareholder China Aerospace and its subsidiary Aerospace Finance), including a **HKD 107 million** long-term loan and a **HKD 1.092 billion** drawn financing facility[109](index=109&type=chunk)

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 1,824,756,000, an increase of 5.3% compared to HKD 1,733,548,000 for the same period in 2023[1] - The gross profit for the same period was HKD 368,238,000, representing a gross margin of approximately 20.2%[1] - The company incurred a loss before tax of HKD 59,093,000, compared to a profit before tax of HKD 55,065,000 in the previous year[2] - The basic and diluted loss per share was HKD 0.93 cents, a decrease from HKD 1.48 cents earnings per share in the prior year[2] - The company reported a net loss attributable to shareholders of HKD 28,578,000 for the six months ended June 30, 2024[16] - The company reported a pre-tax loss of HKD 127,228 thousand for the period, indicating challenges in operational performance[9] - The net loss for the period was HKD 59,093,000, a shift from a net profit of HKD 55,065,000 in the same period of 2023[20] - The loss attributable to shareholders was HKD 28,578,000, compared to a profit of HKD 45,506,000 in the same period of 2023[20] Assets and Liabilities - Non-current assets increased to HKD 11,058,616,000 as of June 30, 2024, compared to HKD 11,319,869,000 at the end of 2023[4] - Current assets rose to HKD 3,134,498,000, up from HKD 3,263,415,000 at the end of 2023[4] - Total assets decreased to HKD 12,713,767,000 from HKD 13,155,636,000 at the end of 2023[4] - The company’s liabilities increased to HKD 1,479,347,000, compared to HKD 1,427,648,000 at the end of 2023[4] - As of June 30, 2024, the company's total non-current liabilities decreased to HKD 3,501,222 thousand from HKD 3,684,676 thousand as of December 31, 2023, representing a reduction of approximately 4.95%[5] - The company's total equity attributable to shareholders decreased to HKD 7,229,548 thousand as of June 30, 2024, down from HKD 7,411,477 thousand as of December 31, 2023, reflecting a decline of about 2.45%[5] - The bank loans increased to HKD 122,449 thousand as of June 30, 2024, compared to HKD 101,612 thousand as of December 31, 2023, marking an increase of approximately 20.4%[5] - The deferred tax liabilities decreased to HKD 2,098,281 thousand from HKD 2,223,096 thousand, a reduction of about 5.62%[5] Revenue Segments - Revenue from the technology industry segment reached HKD 1,754,362 thousand for the six months ended June 30, 2024, with a segment profit of HKD 59,688 thousand[9] - The sales of injection molded products generated HKD 810,527 thousand in total revenue, contributing HKD 36,832 thousand to segment performance[9] - The sales revenue from the smart charging devices segment was HKD 115,354,000, showing a loss of HKD 7,645,000[10] - The revenue from the liquid crystal display segment was HKD 425,772,000, with a segment profit of HKD 44,043,000[10] - The total segment sales for the aerospace services segment amounted to HKD 99,630,000, with a segment profit of HKD 48,800,000[10] - The company's technology segment generated revenue of HKD 1,725,355,000, an increase of 5.77% compared to HKD 1,631,275,000 in the same period of 2023[27] - The operating profit for the technology segment was HKD 59,688,000, reflecting a significant increase of 64.88% from HKD 36,201,000 in the previous year[27] - The injection molding products segment saw a revenue increase of 20.10% to HKD 794,838,000, with operating profit rising 178.27% to HKD 36,832,000[27] - The PCB segment recorded a revenue increase of 8.27% to HKD 456,418,000, with operating profit soaring 331.39% to HKD 19,335,000[27] Dividends and Shareholder Returns - The company did not propose a final dividend for the year ending December 31, 2023, and no interim dividend for 2024[17] - The company decided not to declare an interim dividend for 2024, compared to no dividend declared in the interim of 2023[20] - The company will not declare an interim dividend for 2024 and does not recommend a final dividend for 2023[25] Strategic Focus and Initiatives - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[1] - The company is focusing on expanding its operations in the aerospace services sector, particularly in Shenzhen Aerospace Technology Park[9] - The company is exploring new strategies for market expansion and product development in the technology sector[9] - The company is actively exploring new business opportunities to create value for shareholders[26] - The company is investing in the development of new technologies, including 5G millimeter wave filter chips, to enhance manufacturing capabilities[29] - The company plans to enhance production automation and optimize product quality while managing risks and expanding customer base in the second half of 2024[30] - The company aims to maintain production scale and capacity while focusing on energy conservation and emissions reduction[30] - The company is focusing on enhancing internal management efficiency and promoting information management and energy-saving measures[22] - The company plans to continue expanding both domestic and international markets to respond to intense industry competition[21] Management and Governance - Mr. Wang Xiaojun resigned as an independent non-executive director on March 26, 2024, to focus on personal business, with Ms. Xue Lan succeeding him[50] - Mr. Zhou Limin resigned as chairman and executive director on July 23, 2024, due to retirement from the company[50] - The board expressed gratitude to all employees for their hard work and loyalty, as well as to shareholders, banks, business partners, and the community for their support[50] Audit and Compliance - The company received an unqualified audit opinion on its financial statements, indicating no significant issues were raised by the auditors[49] - The mid-term report will be published on the company's website and the Hong Kong Stock Exchange's disclosure platform at an appropriate time[49] Employee and Operational Metrics - The company employs approximately 7,100 staff across mainland China, Hong Kong, and Vietnam as of June 30, 2024[42] - Administrative expenses for the first half of 2024 were HKD 198,333,000, approximately the same as in the same period of 2023[36] - Financial expenses decreased by 19.57% to HKD 26,512,000 in the first half of 2024 compared to the same period in 2023[36] Market Conditions and Risks - The board is closely monitoring the impact of trade wars and regional conflicts on core business development[23] - The company has no significant contingent liabilities apart from the ongoing litigation with Hangke Houhai[37] - The company has not engaged in any significant litigation or arbitration apart from the disclosed cases[45]

審核委員會 於2023年，審核委員會由獨立非執行董事羅振邦先生（主席）、陳靜茹女士，以及非執行董事彭建國先生（於2023 年3月2日獲委任）及毛以金先生（於2023年3月2日辭任）組成。審核委員會的主要職責為充當董事及外聘核數師之 間的溝通橋樑、審閱公司的財務資料，以及監察公司的財務申報制度、風險管理及內部監控程序。 審核委員會於2023年內召開了兩次會議，以評核和檢視公司的內部監控、風險管理、半年度和全年業績、以及企 業管治事宜，包括每年審視《舉報政策》的有效性等。核數師、總會計師、財務部高級總監、審計與風險管理部總 經理和公司秘書均有出席該等會議，而財務部副總經理出席當中一次會議。 審核委員會亦已審閱、討論及通過本公司截止2023年12月31日的年度財務報表。 審核委員會成員於2023年期間出席會議的情況如下： | --- | --- | --- | |--------|--------------|----------| | | 有權出席次數 | 出席次數 | | | | | | 羅振邦 | 2 | 2 | | 陳靜茹 | 2 | 2 | | 彭建國 | 2 | 2 | | 毛以金 | 0 | 0 | ...