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份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券之邀請或要約。 Grand Ocean Advanced Resources Company Limited 弘海高新資源有限公司 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：65） 根據一般授權配售新股份 配售代理 於二零二五年九月五日（交易時段後），本公司與配售代理訂立配售協議，據此，本公 司有條件同意透過配售代理按盡力基準，以配售價每股配售股份0.40港元向不少於六名 承配人配售最多40,920,000股配售股份，而該等承配人及其最終實益擁有人須為獨立第 三方。 假設已發行股份數目自本公告日期起至完成日期止期間並無變動，最多40,920,000股配 售股份佔(i)本公司於本公告日期的現有已發行股本約20.00%；及(ii)本公司經配發及發 行配售股份擴大後的已發行股本約16.67%。 每股配售股份0.40港元的配 ...

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8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: 弘海高新資源有限公司(於開曼群島註冊成立之有限公司) 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 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) | 00065 | 說明 | 弘海高新資源 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000 ...

Core Viewpoint - 弘海高新资源 reported a significant decline in revenue and gross profit for the first half of 2025 compared to the previous year, indicating potential challenges in its operational performance [1] Financial Performance - Revenue for the first half of 2025 was approximately HKD 61.635 million, representing a year-on-year decrease of about 30.4% [1] - Gross profit for the same period was around HKD 27.193 million, down approximately 28.6% year-on-year [1] - The overall gross margin was approximately 44.1%, slightly up from 43.0% in the same period of 2024 [1] Profitability - The loss attributable to the company's owners was approximately HKD 9.703 million, compared to a loss of about HKD 9.273 million in the same period of 2024 [1] - The company did not declare any dividends for this period [1]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported a 30.4% revenue decrease and expanded loss for the period, with a slight gross margin improvement, and no interim dividend recommendation Summary of Key Financial Data for the Six Months Ended June 30, 2025 | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 61,635 | 88,602 | -30.4% | | Gross Profit | 27,193 | 38,107 | -28.6% | | Overall Gross Profit Margin | 44.1% | 43.0% | +1.1 pp | | Loss for the Period | (8,115) | (7,188) | +12.9% | | Loss Attributable to Owners of the Company | (9,703) | (9,273) | +4.6% | - The Board does not recommend the payment of an **interim dividend** for the six months ended June 30, 2025[3](index=3&type=chunk) [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) Revenue declined by 30.4%, while increased administrative expenses and associate losses contributed to expanded operating and period losses Key Data from Condensed Consolidated Statement of Profit or Loss | Metric | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 61,635 | 88,602 | | Cost of sales | (34,442) | (50,495) | | Gross profit | 27,193 | 38,107 | | Other income and gains | 1,913 | 2,117 | | Selling and distribution expenses | (1,503) | (1,881) | | Administrative expenses | (33,744) | (44,678) | | Share of results of an associate | (1,857) | – | | Operating loss | (7,998) | (6,335) | | Finance costs | (37) | – | | Loss before tax | (8,035) | (6,335) | | Income tax expense | (80) | (853) | | Loss for the period | (8,115) | (7,188) | | Loss attributable to owners of the Company | (9,703) | (9,273) | | Non-controlling interests | 1,588 | 2,085 | | Basic loss per share (HK cents) | (4.74) | (4.79) | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) Despite a period loss of HK$8.115 million, foreign exchange gains led to a total comprehensive loss of HK$4.370 million, an improvement from the prior year Key Data from Condensed Consolidated Statement of Comprehensive Income | Metric | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Loss for the period | (8,115) | (7,188) | | Exchange differences on translating foreign operations | 3,745 | (3,426) | | Other comprehensive income for the period, net of tax | 3,745 | (3,426) | | Total comprehensive income for the period | (4,370) | (10,614) | | Attributable to owners of the Company | (7,260) | (11,233) | | Non-controlling interests | 2,890 | 619 | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total non-current assets slightly decreased, while total current assets increased due to higher receivables and cash, leading to a slight decline in net current assets and total equity Key Data from Condensed Consolidated Statement of Financial Position | Metric | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | 92,556 | 97,906 | | Intangible assets | 19,718 | 19,747 | | Investment properties | 1,858 | 1,863 | | Right-of-use assets | 11,550 | 11,751 | | Interest in an associate | 23,561 | 24,735 | | Deferred tax assets | 14,430 | 14,103 | | **Total non-current assets** | **163,673** | **170,105** | | **Current assets** | | | | Inventories | 4,201 | 3,736 | | Deposits, prepayments and other receivables | 4,700 | 1,284 | | Loan to an associate | 37,099 | 35,983 | | Restricted bank deposits | 3,826 | 153 | | Bank and cash balances | 78,204 | 73,412 | | **Total current assets** | **128,030** | **114,568** | | **Current liabilities** | | | | Accruals and other payables | 79,341 | 71,919 | | Contract liabilities | 6,736 | 2,952 | | Lease liabilities | 707 | 690 | | **Total current liabilities** | **86,784** | **75,561** | | **Net current assets** | **41,246** | **39,007** | | **Total assets less current liabilities** | **204,919** | **209,112** | | **Non-current liabilities** | | | | Provision for environmental restoration and rehabilitation | 4,780 | 4,645 | | Deferred tax liabilities | 15,519 | 15,119 | | Lease liabilities | 740 | 1,098 | | **Total non-current liabilities** | **21,039** | **20,862** | | **Net assets** | **183,880** | **188,250** | | **Total equity** | **183,880** | **188,250** | [Notes](index=6&type=section&id=Notes) [General Information](index=6&type=section&id=General%20Information) The company, incorporated in the Cayman Islands and listed in Hong Kong, primarily operates in coal mining - The Company is an investment holding company, with its subsidiaries primarily engaged in the production and sale of coal (the “**Coal Mining Business**”)[9](index=9&type=chunk) [Basis of Preparation and Accounting Policies](index=6&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) These condensed consolidated financial statements adhere to HKEX Listing Rules and HKAS 34, maintaining consistency with prior year accounting policies - The condensed consolidated financial statements are prepared in accordance with the applicable disclosure requirements of Appendix D2 to the Rules Governing the Listing of Securities on the Stock Exchange and Hong Kong Accounting Standard 34 'Interim Financial Reporting' issued by the Hong Kong Institute of Certified Public Accountants[10](index=10&type=chunk) [Adoption of New and Revised Hong Kong Financial Reporting Standards](index=7&type=section&id=Adoption%20of%20New%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group adopted HKAS 21 (Amendment) with no material impact, and future new standards are also not expected to significantly affect financial performance - During the interim period, the Group has initially adopted HKAS 21 (Amendment) 'Lack of Exchangeability', which has no significant impact on the Group's condensed consolidated financial position and performance and/or disclosures in these condensed consolidated financial statements for the current and prior periods[11](index=11&type=chunk) - The directors anticipate that the adoption of new and revised HKFRSs (including HKFRS 18 'Presentation and Disclosure in Financial Statements', etc.) that have been issued but are not yet effective will not have a significant impact on the Group's consolidated financial performance and position[12](index=12&type=chunk)[13](index=13&type=chunk) [Revenue](index=8&type=section&id=Revenue) The Group's revenue, solely from coal mining, decreased by 30.4% to HK$61.635 million, with all external customers based in China Revenue from Coal Mining Business | Business Segment | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Coal Mining Business | 61,635 | 88,602 | - Revenue decreased by approximately **30.4%** compared to the prior period, with all external customers located in the People's Republic of China[14](index=14&type=chunk) [Segment Information](index=8&type=section&id=Segment%20Information) The Group operates solely in coal mining, with all revenue and most non-current assets located in mainland China - The Group has only one reportable operating segment, the **Coal Mining Business**[15](index=15&type=chunk) Revenue and Non-current Assets by Geographical Location | Region | Revenue for the six months ended June 30, 2025 (HK$ thousand) | Revenue for the six months ended June 30, 2024 (HK$ thousand) | Non-current assets as of June 30, 2025 (HK$ thousand) | Non-current assets as of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Hong Kong | – | – | 13,890 | 14,719 | | China (excluding Hong Kong) | 61,635 | 88,602 | 111,792 | 116,548 | | **Consolidated Total** | **61,635** | **88,602** | **125,682** | **131,267** | Revenue Contribution from Major Customers | Customer | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Customer A | 40,297 | 16,797 | | Customer B | N/A | 22,231 | | Customer C | – | 11,609 | | Customer D | – | 9,170 | | Customer E | – | 9,089 | [Finance Costs](index=9&type=section&id=Finance%20Costs) Finance costs for the period totaled HK$37 thousand, solely from interest expenses on lease liabilities Composition of Finance Costs | Item | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest on lease liabilities | 37 | – | [Loss Before Tax](index=9&type=section&id=Loss%20Before%20Tax) Loss before tax was primarily impacted by reduced interest income, amortization, cost of sales, depreciation, directors' emoluments, and net exchange and asset disposal losses Key Items Affecting Loss Before Tax | Item | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest income | (184) | (713) | | Amortisation of intangible assets | 596 | 973 | | Cost of inventories sold | 34,442 | 50,495 | | Depreciation of property, plant and equipment | 7,318 | 7,886 | | Depreciation of investment properties | 58 | 59 | | Depreciation of right-of-use assets | 488 | 202 | | Directors' emoluments | 1,509 | 1,663 | | Net exchange (gain)/loss | (1,116) | 786 | | Net loss on disposal/write-off of property, plant and equipment | 393 | 31 | | Short-term lease expenses | 92 | 77 | [Income Tax Expense](index=9&type=section&id=Income%20Tax%20Expense) Income tax expense was HK$80 thousand, mainly deferred tax, with no provision for Hong Kong or PRC taxes due to a lack of assessable profits Income Tax Expense | Item | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Deferred tax | 80 | 853 | - No provision for Hong Kong profits tax and PRC enterprise income tax was made for the period as the Group's Hong Kong and PRC subsidiaries did not generate any assessable profits[22](index=22&type=chunk) [Dividends](index=10&type=section&id=Dividends) The Board does not recommend an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[23](index=23&type=chunk) [Loss Per Share](index=10&type=section&id=Loss%20Per%20Share) Basic loss per share was HK4.74 cents, slightly lower than the prior period, with diluted loss per share being identical due to no dilutive shares Loss Per Share | Metric | For the six months ended June 30, 2025 (HK cents) | For the six months ended June 30, 2024 (HK cents) | | :--- | :--- | :--- | | Basic loss per share | (4.74) | (4.79) | | Diluted loss per share | (4.74) | (4.79) | - Basic loss per share is calculated based on the loss attributable to owners of the Company of approximately **HK$9,703,000** and the weighted average number of ordinary shares in issue of approximately **204,616,916** shares for the period[24](index=24&type=chunk) - Diluted loss per share is equal to basic loss per share as there were no potential dilutive ordinary shares in issue during the period[25](index=25&type=chunk) [Property, Plant and Equipment, Intangible Assets and Right-of-Use Assets](index=10&type=section&id=Property,%20Plant%20and%20Equipment,%20Intangible%20Assets%20and%20Right-of-Use%20Assets) No property, plant, and equipment additions were made, and impairment assessments on coal mining non-financial assets resulted in no recognized losses - During the six months ended June 30, 2025, the Group made no additions to property, plant and equipment (six months ended June 30, 2024: approximately **HK$1,745,000**)[26](index=26&type=chunk) - Based on the impairment assessment review for the six months ended June 30, 2025, no impairment loss was recognized on the carrying amounts of non-financial assets of the Group's coal mining business segment[27](index=27&type=chunk) - The recoverable amount of the coal mining cash-generating unit was determined by reference to a valuation prepared by an independent valuation company[28](index=28&type=chunk) [Interest in an Associate and Loan to an Associate](index=11&type=section&id=Interest%20in%20an%20Associate%20and%20Loan%20to%20an%20Associate) The Group holds a 52% interest in a copper mining associate, retaining significant influence despite control issues, and has provided an unsecured, interest-free loan of HK$39.397 million Interest in an Associate and Loan | Item | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Cost of investment in an associate | 26,764 | 26,764 | | Share of post-acquisition loss and other comprehensive income | (3,203) | (2,029) | | **Interest in an associate** | **23,561** | **24,735** | | Loan to an associate | 37,099 | 35,983 | - The Group completed the acquisition of a **52%** equity interest in Laos Taishan Jiujiu Investment and Trade Co., Ltd. on August 26, 2024, which is primarily engaged in copper mining in Laos[30](index=30&type=chunk) - Despite the non-cooperation from the associate's business partners, the Company's directors believe the Group retains significant influence over Taishan Jiujiu and accounts for it using the equity method in accordance with HKAS 28[31](index=31&type=chunk) - The principal amount of the loan to the associate is **RMB36,000,000** (approximately **HK$39,397,000**), which is unsecured, interest-free, and repayable on demand[32](index=32&type=chunk) [Trade Receivables](index=12&type=section&id=Trade%20Receivables) Net trade receivables were zero due to full provision for expected credit losses, with the company requiring upfront payments or offering 90-day credit to major clients Trade Receivables | Item | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade receivables | 1,208 | 1,174 | | Expected credit losses on trade receivables | (1,208) | (1,174) | | **Net amount** | **–** | **–** | - The Group requires customers to make upfront payments, but grants **90-day** credit terms to certain major customers[32](index=32&type=chunk) [Share Capital](index=13&type=section&id=Share%20Capital) The company's authorized share capital is 10 billion shares (HK$0.1 par), with 204,616,916 shares issued, reflecting a 2024 share placement and consolidation Movements in Share Capital | Item | Number of Ordinary Shares | HK$ thousand | | :--- | :--- | :--- | | **Authorised Share Capital** | | | | January 1, 2024 (par value HK$0.01 per share) | 100,000,000,000 | 1,000,000 | | Share consolidation | (90,000,000,000) | – | | December 31, 2024 and June 30, 2025 (par value HK$0.1 per share) | 10,000,000,000 | 1,000,000 | | **Issued and Fully Paid Share Capital** | | | | January 1, 2024 (par value HK$0.01 per share) | 1,723,477,166 | 17,235 | | Placement of new shares | 322,692,000 | 3,227 | | Share consolidation | (1,841,552,250) | – | | December 31, 2024 and June 30, 2025 (par value HK$0.1 per share) | 204,616,916 | 20,462 | - On March 4, 2024, the Company completed the placement of **322,692,000** new shares at a placing price of **HK$0.185** per placing share to not less than six placees, raising net proceeds of approximately **HK$59,101,000**[33](index=33&type=chunk) - Pursuant to an ordinary resolution passed by the Company's shareholders on October 23, 2024, every ten issued and unissued ordinary shares of HK$0.01 each were consolidated into one consolidated share of HK$0.1 each, effective from October 25, 2024[33](index=33&type=chunk) [Business and Financial Review](index=14&type=section&id=Business%20and%20Financial%20Review) [Business Overview](index=14&type=section&id=Business%20Overview) Total revenue decreased by 30.4% to HK$61.635 million, and loss for the period expanded to HK$8.115 million, with coal mining as the sole business segment Financial Data from Business Overview | Metric | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total revenue | 61,635 | 88,602 | | Loss for the period | (8,115) | (7,188) | | Loss attributable to owners of the Company | (9,703) | (9,273) | - For the six months ended June 30, 2025 and 2024, the **Coal Mining Business** was the Group's sole business segment[34](index=34&type=chunk) [Coal Mining Business](index=14&type=section&id=Coal%20Mining%20Business) Coal mining output and revenue declined due to cautious sales, stricter regulations, and lower prices, while the company updated licenses and continues resource assessment Coal Mining Business Production and Sales | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Coal production volume (tonnes) | 332,000 | 447,000 | | Coal sales volume (tonnes) | 327,000 | 434,000 | - Inner Mongolia Jinyuanli has successfully renewed its safety production license (valid until September 24, 2026) and mining license (valid until October 26, 2034)[35](index=35&type=chunk) - Both production and sales volumes and revenue of the coal mining business decreased compared to the prior period, primarily due to preliminary assessment of remaining coal resources, increasingly stringent coal industry regulations leading to cautious sales order approaches, and a slight decrease in coal sales prices[36](index=36&type=chunk) - Compliance with evolving PRC government policies for the coal mining industry (e.g., smart production and environmental policies) and the continuous decline in recoverable coal resources pose operational challenges for the coal mining business, with ongoing capital expenditure and operating costs expected to continue rising[37](index=37&type=chunk) [Impairment Assessment Review](index=15&type=section&id=Impairment%20Assessment%20Review) Impairment assessment on coal mining non-financial assets resulted in no recognized losses, with cash flow forecasts based on 900,000 tonnes annual output and average unit selling price - The Company's management has conducted impairment assessment reviews on the carrying amounts of property, plant and equipment, intangible assets, and right-of-use assets under non-financial assets of the coal mining business cash-generating unit for each reporting period[38](index=38&type=chunk) Key Assumptions for Cash Flow Forecast of Coal Mining Cash-Generating Unit | Key Assumption | June 30, 2024 | December 31, 2024 | June 30, 2025 | | :--- | :--- | :--- | :--- | | Forecast annual coal output (until expiry of commercial license) | 900,000 tonnes | 900,000 tonnes | 900,000 tonnes | | Average unit selling price per tonne of coal (including VAT) | 2024: RMB188 | 2025: RMB191 | 2025: RMB191 | | | 2025: RMB193 | 2026: RMB196 | 2026: RMB196 | | | After 2026: Growth with inflation rate | After 2027: Growth with inflation rate | After 2027: Growth with inflation rate | | Inflation rate | 2.5% | 2.5% | 2.5% | - Based on the impairment assessment review for the six months ended June 30, 2025, no impairment loss was recognized on the carrying amounts of non-financial assets of the Group's coal mining business segment[40](index=40&type=chunk) [Selling and Distribution Expenses](index=16&type=section&id=Selling%20and%20Distribution%20Expenses) Selling and distribution expenses decreased by HK$0.378 million to HK$1.503 million, mainly due to lower coal sales volume Selling and Distribution Expenses | Metric | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Selling and distribution expenses | 1,503 | 1,881 | - The decrease in selling and distribution expenses was primarily due to the reduced coal sales volume during the period[41](index=41&type=chunk) [Administrative Expenses](index=17&type=section&id=Administrative%20Expenses) Administrative expenses decreased by HK$10.934 million to HK$33.744 million, driven by lower staff and professional fees, with ongoing cost-saving initiatives Administrative Expenses | Metric | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Administrative expenses | 33,744 | 44,678 | - The decrease in administrative expenses was mainly due to reduced staff costs and professional fees; the Company's management will continue to implement cost-saving measures[43](index=43&type=chunk) [Finance Costs](index=17&type=section&id=Finance%20Costs) Finance costs for the period totaled HK$37 thousand, exclusively from interest expenses on lease agreements - For the six months ended June 30, 2025, approximately **HK$37,000** represented interest expenses arising from lease agreements[44](index=44&type=chunk) [Loss for the Period](index=17&type=section&id=Loss%20for%20the%20Period) The Group's loss for the period expanded to HK$8.115 million, with loss attributable to owners reaching HK$9.703 million Loss for the Period | Metric | For the six months ended June 30, 2025 (HK$ thousand) | For the six months ended June 30, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Loss for the period | (8,115) | (7,188) | | Loss attributable to owners of the Company | (9,703) | (9,273) | [Investment in Copper Mine in the Lao People's Democratic Republic ('Laos')](index=17&type=section&id=Investment%20in%20Copper%20Mine%20in%20the%20Lao%20People's%20Democratic%20Republic%20('Laos')) The Group acquired a 52% stake in a Laos copper mine, retaining significant influence despite control issues, and has initiated legal action to secure financial data and management changes - The Group completed the acquisition of a **52%** equity interest in Laos Taishan Jiujiu Investment and Trade Co., Ltd. on August 26, 2024, which is primarily engaged in copper mining in Laos[46](index=46&type=chunk) - The Group provided a shareholder loan to Taishan Jiujiu with a principal amount of **RMB36,000,000** (approximately **HK$39,397,000**)[46](index=46&type=chunk) - Due to non-cooperation from Taishan Jiujiu's legal representative and business partners, the Group is unable to exercise control but retains significant influence, and has engaged Laotian legal counsel to initiate legal proceedings to obtain financial information and replace management[47](index=47&type=chunk)[48](index=48&type=chunk)[49](index=49&type=chunk) [Liquidity and Financial Resources](index=18&type=section&id=Liquidity%20and%20Financial%20Resources) The Group holds HK$82.030 million in cash and restricted deposits, with no borrowings, a zero gearing ratio, and a current ratio of 1.48 Key Indicators of Liquidity and Financial Resources | Metric | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total restricted bank deposits and bank and cash balances | 82,030 | 73,565 | | Borrowings | Nil | Nil | | Gearing ratio | Zero | Zero | | Current ratio | 1.48 | 1.52 | [Foreign Exchange Risk](index=19&type=section&id=Foreign%20Exchange%20Risk) Sales and purchases are mainly in RMB, and despite recent exchange rate fluctuations, management sees no significant adverse impact, with hedging to be considered if needed - The Group's sales and purchases are primarily transacted in RMB, while its books are recorded in HKD; recent fluctuations in the RMB to HKD exchange rate are not considered by management to have a significant adverse impact on the Group's consolidated financial position at present[53](index=53&type=chunk) - The Group currently has no foreign exchange hedging policy; the Company's management will continue to monitor foreign exchange risk and consider hedging significant foreign exchange exposures when necessary[53](index=53&type=chunk) [Acquisition and Disposal of Significant Subsidiaries, Associates and Joint Ventures](index=19&type=section&id=Acquisition%20and%20Disposal%20of%20Significant%20Subsidiaries,%20Associates%20and%20Joint%20Ventures) The Group did not acquire or dispose of any significant subsidiaries, associates, or joint ventures during the period - For the six months ended June 30, 2025, the Group did not acquire or dispose of any significant subsidiaries, associates, or joint ventures[54](index=54&type=chunk) [Material Investments](index=19&type=section&id=Material%20Investments) The Group did not purchase, sell, or hold any material investments during the period - For the six months ended June 30, 2025, the Group did not purchase, sell, or hold any material investments[55](index=55&type=chunk) [Contingent Liabilities](index=19&type=section&id=Contingent%20Liabilities) The Group had no material contingent liabilities as of June 30, 2025 - As of June 30, 2025, the Group had no material contingent liabilities[56](index=56&type=chunk) [Capital Commitments](index=19&type=section&id=Capital%20Commitments) Contracted but unprovided capital expenditure for property, plant and equipment significantly increased to HK$7.558 million Capital Commitments | Item | As of June 30, 2025 (HK$ thousand) | As of December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Capital expenditure contracted but not provided for property, plant and equipment | 7,558 | 1,213 | [Employees](index=19&type=section&id=Employees) The Group had 426 full-time employees, with staff costs (including directors' emoluments) decreasing to HK$29.662 million Employees and Staff Costs | Metric | As of June 30, 2025 | As of December 31, 2024 | | :--- | :--- | :--- | | Number of full-time employees | 426 | 425 | | Staff costs (including directors' emoluments) | HK$29,662 thousand | HK$39,240 thousand | - Staff remuneration is determined based on qualifications, job nature, performance, work experience, current market levels, and contributions to the Group[58](index=58&type=chunk) [Outlook and Strategies](index=20&type=section&id=Outlook%20and%20Strategies) The Group is diversifying and seeking new mining investments to counter industry challenges, while addressing Laos copper mine issues and enhancing shareholder value through cost and capital management - The PRC government's increasingly stringent regulations and policies for the coal mining industry restrict the Group's working capital and reduce the profitability of its coal mining business, while the Inner Mongolia coal mining area 958, having operated for over ten years, faces challenges of aging machinery and diminishing coal resources[59](index=59&type=chunk) - To diversify and build a more robust business portfolio, the Group is actively seeking suitable investment opportunities in the local and international mining and mineral industries[59](index=59&type=chunk) - The Group will take all necessary actions to effectively address unforeseen challenges encountered in its Laos mining investment, protect its interests, and closely monitor progress[59](index=59&type=chunk) - Looking ahead, the Group will continue to implement further cost control measures and improve capital management to strengthen its financial position, embrace future business opportunities, with the aim of expanding its business scope and enhancing overall development, ultimately increasing shareholder value[59](index=59&type=chunk) [Other Information](index=20&type=section&id=Other%20Information) [Audit Committee](index=20&type=section&id=Audit%20Committee) The Audit Committee, composed of three independent non-executive directors, reviews financial information, oversees risk management, and has reviewed these interim financial statements - The Company's Audit Committee comprises three independent non-executive directors, whose primary duties include reviewing the Group's financial information and overseeing the financial reporting system, risk management, and internal control systems[60](index=60&type=chunk) - The Company's unaudited interim financial statements and interim report for the six months ended June 30, 2025, have been reviewed by the Audit Committee[60](index=60&type=chunk) [Corporate Governance](index=20&type=section&id=Corporate%20Governance) Corporate governance practices comply with HKEX Listing Rules, except for the combined Chairman and CEO roles, with suitable candidates being sought to fill vacancies - The Company has complied with the applicable code provisions of the Corporate Governance Code for the six months ended June 30, 2025, except for code provision C.2.1, which stipulates that the roles of chairman and chief executive officer should be separate and not performed by the same individual[61](index=61&type=chunk) - The Company is currently identifying suitable candidates to fill the vacancies for Chairman and Chief Executive Officer[61](index=61&type=chunk) [Standard Code for Securities Transactions by Directors](index=21&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company adopted the Standard Code for Securities Transactions by Directors, with all directors confirming compliance during the reporting period - The Company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules, and all directors have confirmed their compliance with the required standards throughout the six months ended June 30, 2025[62](index=62&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=21&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any listed securities during the six months ended June 30, 2025 - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[63](index=63&type=chunk) [Dividends](index=21&type=section&id=Dividends) The Board does not recommend an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[64](index=64&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=21&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) The interim results announcement is available on HKEX and company websites, with the interim report to be dispatched to shareholders and published online soon - This interim results announcement is published on the HKEX website (www.hkexnews.hk) and the Company's website (www.grandocean65.com) respectively[65](index=65&type=chunk) - The Company's interim report for the six months ended June 30, 2025, containing all information required by the Listing Rules, will be dispatched to the Company's shareholders and published on the aforementioned websites in due course[65](index=65&type=chunk)

（ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：65） 於二零二五年八月二十二日舉行之 股東週年大會之投票結果 董事會欣然宣佈，股東週年大會通告所載之所有提呈決議案已於二零二五年八月二十二 日舉行之股東週年大會上獲股東以投票表決方式正式通過。 弘海高新資源有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，日期為二零 二五年七月三十日之本公司股東週年大會通告（「股東週年大會通告」）所載之所有提呈決 議案已於二零二五年八月二十二日舉行之本公司股東週年大會（「股東週年大會」）上獲本 公司股東（「股東」）以投票表決方式正式通過。 於股東週年大會舉行日期，本公司已發行股份（「股份」）總數為204,616,916股。根據香港 聯合交易所有限公司證券上市規則（「上市規則」），概無股東須於股東週年大會上放棄投票。 此外，並無任何股份賦予持有人權利可出席股東週年大會但根據上市規則第13.40條所載 須於會上放棄表決贊成任何決議案。概無股東於本公司日期為二零二五年七月三十日之 通函中表示打算在股東週年大會上就任何決議案投票反對或放棄投票之意向。因此，賦 予股東權利出席股東週年大會並於會上 ...

Company News - Gree Electric Appliances announced a 2024 annual equity distribution plan, proposing a cash dividend of 20 yuan (including tax) for every 10 shares, totaling 11.17 billion yuan [8][9] - Sinopec plans to repurchase A-shares with a budget of 5 billion to 10 billion yuan and intends to distribute cash dividends of 10.67 billion yuan (including tax) for the first half of 2025 [9] - Feilu Co., Ltd. announced that its controlling shareholder is planning a change in control, leading to a temporary suspension of trading [8][10] - Special reports indicate that various companies, including Te Yi Pharmaceutical and Sany Heavy Industry, have reported significant revenue growth in the first half of the year, with Te Yi achieving a 56.54% increase in revenue [7][8] Industry News - The National Energy Administration reported that the total electricity consumption in July reached 10,226 billion kWh, a year-on-year increase of 8.6% [4] - The State Council approved a development plan for the biopharmaceutical industry in Jiangsu Free Trade Zone, aiming to enhance innovation and competitiveness [4] - The Ministry of Commerce reported a 3.5% increase in China's foreign trade in the first seven months of the year, indicating a steady growth trend despite global challenges [4] - The financial regulatory authority is working on guidelines to enhance health insurance services, aiming to improve the industry's operational capabilities and regulatory environment [5] - The Anhui provincial government released a policy to accelerate the development of general artificial intelligence, targeting significant advancements by 2027 [6]

Company Announcements - Gree Electric Appliances plans to distribute a cash dividend of 20 yuan (including tax) for every 10 shares, totaling 11.17 billion yuan [1][8] - Sinopec intends to repurchase A-shares worth between 500 million and 1 billion yuan and plans to distribute cash dividends of 10.67 billion yuan (including tax) for the first half of 2025 [1][8] - Feilu Co., Ltd. announced a suspension of trading due to the planned change of control by its major shareholder [1][9] - Long Spring High-tech's subsidiary Jin Sai Pharmaceutical's clinical trial application for GenSci143 has been accepted by the National Medical Products Administration [10] Industry Developments - The National Energy Administration reported that China's total electricity consumption in July reached 10,226 billion kWh, a year-on-year increase of 8.6% [2] - The Ministry of Commerce stated that China's foreign trade maintained a steady growth trend, with a cumulative import and export growth of 3.5% in the first seven months of the year [4] - The Anhui provincial government released a plan to accelerate the development of strategic emerging industries, aiming for an annual growth of over 11% in added value by 2027 [6] - The China Nonferrous Metals Industry Association reported stable silicon wafer prices, with a positive market sentiment despite weak terminal demand [5] Financial Performance - Te Yi Pharmaceutical reported a revenue of 491 million yuan for the first half of the year, a year-on-year increase of 56.54%, with a net profit of 38.01 million yuan, up 1313.23% [6] - Sany Heavy Industry achieved a revenue of 44.534 billion yuan, a year-on-year increase of 14.96%, with a net profit of 5.216 billion yuan, up 46% [6] - Kuaishou's second-quarter revenue reached 35.05 billion yuan, a year-on-year increase of 13.1%, with an adjusted net profit of 5.62 billion yuan [7]

[Announcement Overview and Purpose](index=1&type=section&id=Announcement%20Overview%20and%20Purpose) This supplemental announcement from Grand Ocean Advanced Resources (Stock Code: 65) provides additional disclosures on the share option scheme for the 2024 annual report - This announcement provides supplementary disclosure regarding Grand Ocean Advanced Resources Company Limited's share option scheme in the 2024 annual report[2](index=2&type=chunk)[3](index=3&type=chunk)[4](index=4&type=chunk) [Supplemental Details of Share Option Scheme](index=1&type=section&id=Supplemental%20Details%20of%20Share%20Option%20Scheme) This chapter supplements four key aspects of the company's share option scheme: exercisable period, vesting period, acceptance amount and payment deadline, and subscription price determination basis [Exercisable Period of Share Options](index=1&type=section&id=(i)%20Period%20for%20Exercising%20Share%20Options) Share options are exercisable within a board-determined period, not exceeding ten years from the grant date - The maximum exercisable period for share options is **ten years** from the grant date[5](index=5&type=chunk) [Vesting Period of Granted Share Options](index=1&type=section&id=(ii)%20Vesting%20Period%20of%20Granted%20Share%20Options) The minimum vesting period for granted share options is twelve months from the fulfillment of vesting conditions, with discretion for the Board or Remuneration Committee to shorten it for employee participants - The minimum vesting period for share options is **12 months** after conditions are met, with Board or Remuneration Committee discretion to shorten it[6](index=6&type=chunk) [Acceptance Amount and Payment Deadline for Share Options](index=2&type=section&id=(iii)%20Amount%20Payable%20Upon%20Acceptance%20of%20Share%20Options%20and%20Payment%20Deadline) The share option acceptance amount is at the Board's discretion, with a maximum acceptance period of thirty business days from the grant date, potentially including a non-refundable payment - Share option acceptance amount is Board-determined, with a maximum **30 business day** acceptance period, potentially requiring a non-refundable payment[7](index=7&type=chunk) [Basis for Determining Subscription Price](index=2&type=section&id=(iv)%20Basis%20for%20Determining%20Subscription%20Price) The share option subscription price is Board-determined, not less than the highest of the closing price, average closing price, or par value on the Stock Exchange - The subscription price must not be less than the highest of (i) the closing price on the grant date, (ii) the average closing price over the **five business days** preceding the grant date, or (iii) the par value on the grant date[8](index=8&type=chunk) [Board and Other Statements](index=2&type=section&id=Board%20and%20Other%20Statements) Additional information in this supplemental announcement does not affect other 2024 annual report details and outlines the Board's composition as of the announcement date - This supplementary information does not affect other details contained in the **2024 annual report**[8](index=8&type=chunk) - As of the announcement date, the Board comprises **one Executive Director** (Mr. Ng Ying Kit), **one Non-executive Director** (Ms. Kuang Pei Hsien), and **three Independent Non-executive Directors** (Mr. Li Wai Ming, Mr. Chang Hsueh Chun, and Mr. Li Kui Fai)[9](index=9&type=chunk)

格隆汇8月15日丨弘海高新资源(00065.HK)公布，本公司将于2025年8月29日（星期五）举行董事会会 议，以（其中包括）考虑及批准本公司及其附属公司截至2025年6月30日止六个月的未经审核中期业绩 及其发布，以及考虑建议派发中期股息（如有）。 ...

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分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Grand Ocean Advanced Resources Company Limited 弘海高新資源有限公司 香港，二零二五年八月十五日 於本公告日期，董事會包括一名執行董事，為吳映吉先生；一名非執行董事，為鄺沛賢女 士；以及三名獨立非執行董事，分別為李偉明先生、暢學軍先生及李巨輝先生。 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：65） 董事會會議日期 弘海高新資源有限公司（「本公司」）董事會（「董事會」）謹此公佈，本公司將於二零二五年 八月二十九日（星期五）舉行董事會會議，以（其中包括）考慮及批准本公司及其附屬公司 截至二零二五年六月三十日止六個月之未經審核中期業績及其發佈，以及考慮建議派發 中期股息（如有）。 承董事會命 弘海高新資源有限公司 執行董事 吳映吉 ...