Core Viewpoint - *ST Lanhua (000929.SZ) reported its semi-annual results for 2025, highlighting a significant presence of institutional investors holding 30.28% of its total shares as of August 25, 2025 [1] Institutional Holdings - As of the reporting date, there are four institutional investors disclosed holding shares in *ST Lanhua, with a total of 56.25 million shares [1] - The institutional investors include Lanzhou Yellow River New Prosperity Investment Co., Ltd., Hunan Yucheng Investment Co., Ltd., Xinyu High-tech Zone Yigudingyuan Enterprise Consulting Center (Limited Partnership), and Gansu Province Industrial Transportation Investment Co., Ltd. [1] - The total institutional holding percentage decreased by 0.68 percentage points compared to the previous quarter [1] Foreign Investment - There was no new disclosure of foreign institutional investors in this period, with J.P. Morgan Securities PLC - proprietary funds being the only previously disclosed foreign entity [1]

Core Viewpoint - *ST Lanhuang (000929.SZ) reported a significant decline in revenue and net profit for the first half of 2025, indicating financial challenges faced by the company [1] Financial Performance - The company achieved an operating revenue of 96.83 million yuan, representing a year-on-year decrease of 15.82% [1] - The net profit attributable to shareholders of the listed company was -11.91 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -14.03 million yuan [1] - The basic earnings per share were -0.0642 yuan [1]

格隆汇8月20日丨*ST兰黄(000929.SZ)公布，截至2025年8月19日，公司通过股票回购专用证券账户以集 中竞价交易方式回购股份3,715,300.00股，占公司目前总股本的2.00%，最高成交价为8.30元/股，最低成 交价为7.10元/股，成交总金额为2960.41万元(不含交易费用)。 ...

Core Viewpoint - *ST Lanhuang (000929.SZ) announced a share buyback plan, indicating a strategic move to enhance shareholder value and confidence in the company's future prospects [1] Summary by Relevant Categories Share Buyback Details - The company repurchased a total of 1,857,700 shares, which represents 1.00% of the current total share capital [1] - The highest transaction price during the buyback was 8.21 yuan per share, while the lowest was 7.10 yuan per share [1] - The total amount spent on the buyback was 14,380,854.00 yuan, excluding transaction fees [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7月31日 狀態: 新提交 | 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) | 00092 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 160,000,000,000 | HKD | | 0.01 HKD | | 1,600,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 160,000,000,000 | HKD | | 0.01 HKD | | 1,600,000,000 | 本月底法定/註冊股本總額： HKD 1,600,000,000 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 兰州黄河企业股份有限公司（以下简称"公司"）分别于2025年3月7日、2025年3月21日召开第十二届董 事会第九次会议和2025年第二次临时股东大会，审议通过了《关于回购公司股份方案的议案》，同意公 司使用自有资金或自筹资金以集中竞价交易方式回购公司股份，用于股权激励或员工持股计划。本次回 购股份的资金总额不低于人民币2,000万元（含）且不超过人民币3,000万元（含），回购价格不超过人 民币9.70元/股。具体回购数量和金额以回购股份期限届满或回购股份实施完毕时实际回购数量和金额 为准。本次回购股份的实施期限自公司股东大会审议通过本次回购股份方案之日起12个月内。具体内容 详见公司于2025年3月10日、2025年3月27日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于回购 公司股份方案的公告》（公告编号：2025（临）-20）、《回购股份报告书》（公告编号：2025 （临）-26）。 一、首次回购公司股份的情况 公司于2025年5月13日 ...

Core Viewpoint - *ST Lanhuang (000929.SZ) reported a decline in revenue and cash flow for Q1 2025, indicating challenges in its operational performance compared to peers in the industry [1][3]. Financial Performance - As of March 31, 2025, *ST Lanhuang's total operating revenue was 47.67 million yuan, ranking 14th among disclosed peers, a decrease of 6.19 million yuan or 11.49% year-on-year [1]. - The net profit attributable to the parent company was 7.23 million yuan, ranking 10th among peers [1]. - The net cash flow from operating activities was -19.41 million yuan, ranking 14th, a decrease of 18.61 million yuan compared to the same period last year [1]. Financial Ratios - The asset-liability ratio stood at 16.38%, an increase of 0.20 percentage points from the previous quarter and 1.82 percentage points from the same period last year [3]. - The gross profit margin was 15.25%, ranking 16th among peers [3]. - The return on equity (ROE) was 1.47%, ranking 9th among disclosed companies [3]. Earnings and Efficiency Metrics - The diluted earnings per share were 0.04 yuan, ranking 9th among peers [4]. - The total asset turnover ratio was 0.05 times, ranking 15th [4]. - The inventory turnover ratio was 0.38 times, a decrease of 0.06 times or 13.20% year-on-year [4]. Shareholder Structure - The number of shareholders was 19,500, with the top ten shareholders holding 77.12 million shares, accounting for 41.52% of the total share capital [4]. - The largest shareholder, Lanzhou Yellow River New Sheng Investment Co., Ltd., held 21.50% of the shares [4].

Financial Performance - Revenue for the six months ended December 31, 2024, was HK$21,662,000, a decrease of 75.8% compared to HK$89,336,000 in the previous period[8]. - Gross profit for the same period was HK$1,433,000, down 78.0% from HK$6,505,000 in the previous period[8]. - Loss before taxation was HK$24,998,000, compared to a profit of HK$51,092,000 in the previous period[8]. - Loss for the period amounted to HK$24,999,000, a significant decline from a profit of HK$50,798,000 in the previous period[8]. - Total comprehensive expense for the period was HK$30,061,000, compared to a comprehensive income of HK$5,418,000 in the previous period[10]. - Basic and diluted loss per share was HK$(2.67) cents, compared to earnings of HK$7.36 cents in the previous period[10]. - For the six months ended December 31, 2024, the company reported a loss before tax of HK$24,998,000 compared to a profit of HK$51,092,000 in the same period of 2023[23]. - The total comprehensive income for the period ended December 31, 2024, was a loss of HK$30,061,000, while the previous year reported a total comprehensive income of HK$5,418,000[23]. - For the six months ended December 31, 2024, the company reported a loss attributable to owners of HK$21,607,000, compared to a profit of HK$50,590,000 for the same period in 2023, representing a significant decline[68]. - General and administrative expenses increased by approximately 52.8% to about HK$17.6 million, up from approximately HK$11.5 million in the previous year, mainly due to increased research and administrative expenses related to the newly commenced green energy business[131][136]. Assets and Liabilities - Non-current assets decreased to HK$44,051,000 from HK$42,383,000 as of June 30, 2024[13]. - Current assets decreased to HK$212,443,000 from HK$220,006,000 as of June 30, 2024[13]. - Net current assets decreased to HK$56,296,000 from HK$62,186,000 as of June 30, 2024[13]. - Total equity decreased to HK$89,743,000 from HK$96,469,000 as of June 30, 2024[16]. - The total equity attributable to owners of the company decreased to HK$89,743,000 as of December 31, 2024, from HK$128,498,000 as of July 1, 2023[19]. - Trade receivables decreased from HK$150,366,000 as of June 30, 2024, to HK$134,555,000 as of December 31, 2024, with an increase in provision for impairment losses from HK$7,529,000 to HK$14,960,000[83]. - Other receivables increased from HK$45,584,000 to HK$60,712,000, with the provision for impairment losses remaining unchanged at HK$6,676,000[83]. - The total trade and other receivables decreased from HK$181,745,000 as of June 30, 2024, to HK$173,631,000 as of December 31, 2024[83]. - The ageing analysis of trade receivables showed a significant decrease in the 0-60 days category from HK$93,427,000 to HK$14,830,000, indicating potential collection issues[87]. - The carrying value of property, plant, and equipment decreased from HK$7,045,000 as of July 1, 2024, to HK$6,260,000 as of December 31, 2024, after accounting for depreciation and currency realignment[74]. Cash Flow - The net cash used in operating activities for the six months ended December 31, 2024, was HK$15,857,000, a decrease from HK$108,869,000 in the prior year[23]. - The company generated net cash from financing activities amounting to HK$27,793,000, compared to HK$58,334,000 in the previous year[25]. - As of December 31, 2024, cash and cash equivalents stood at HK$7,202,000, down from HK$8,527,000 at the end of December 2023[25]. Segment Performance - Revenue from Smart City Solutions was HK$15,833,000, down 78.6% from HK$73,962,000 in the previous year[42]. - The segment result for Smart City Solutions showed a loss of HK$7,677,000, contributing to a total loss before taxation of HK$24,998,000 for the Group[44]. - The Group recognized HK$21,349,000 in revenue at a point in time and HK$313,000 over time during the reporting period[44]. - Segment results showed a loss of HK$19,825,000 across various business segments[48]. Investments - Listed equity investments in Hong Kong rose to HK$15,158,000 as of December 31, 2024, up from HK$10,421,000 as of June 30, 2024, marking a 45% increase[96]. - The Group held 1,561,000 shares in Zijing International Financial Holdings Limited, with an accumulated unrealised loss of HK$12,629,438 during the year[175]. - The Group held 1,423,400 shares in GoFintech Innovation Limited, with an accumulated unrealised loss of HK$1,209,890 during the period[178]. - The Group held 180,000 shares in Worldgate Global Logistics Ltd, with an accumulated unrealised loss of HK$2,273,400 during the period[185]. - The total accumulated unrealised loss across all investments held by the Group was HK$22,887,844 as of December 31, 2024[172]. Strategic Initiatives - The company has focused on selecting financially stable customers, primarily government-owned entities, to minimize default risk and ensure reliable revenue streams[147][150]. - The Group successfully commenced sales, design, and installation of SPV Systems to Southeast Asia customers, expanding its market presence and product range[161]. - The Group is committed to establishing long-term partnerships with financially stable clients, primarily state-owned enterprises, to reduce default risks[152]. - The Group's investment strategy includes short-term investments in Hong Kong listed securities, with a focus on improving market sentiment[169]. Challenges and Market Conditions - The data center business in China faced significant stagnation due to a shortage of crucial semiconductor chips and systems, exacerbated by geopolitical sanctions[151]. - The Group's Renewable Energy Business faced significant challenges from 2020 to early 2024, including delays in obtaining necessary approvals and increased costs due to frequent changes in requirements by the power company[155]. - The Hong Kong Government's reduction in Feed-in Tariff (FiT) rates has discouraged some customers from proceeding with orders, indicating a diminishing return phase for the Solar Photovoltaic (SPV) business[156]. - The construction of TdC Phase II has been reconsidered due to uncertainties from the Russia-Ukraine conflict and Western sanctions affecting capital flow[192]. Corporate Governance - The board of directors has resolved not to pay any interim dividend for the six months ended December 31, 2024, consistent with the previous year[69]. - The Group's accounting policies remain consistent with those used in the preparation of the annual financial statements for the year ended June 30, 2024[31]. - The financial statements are presented in Hong Kong dollars (HK$), with all values rounded to the nearest thousand[30].

Financial Performance - Revenue for the six months ended December 31, 2024, was HK$21,662,000, a decrease of 75.8% compared to HK$89,336,000 in the previous period[9]. - Gross profit for the same period was HK$1,433,000, down 78.0% from HK$6,505,000 in the previous period[9]. - Loss before taxation was HK$24,998,000, compared to a profit of HK$51,092,000 in the previous period[9]. - Loss for the period amounted to HK$24,999,000, a significant decline from a profit of HK$50,798,000 in the previous period[9]. - Total comprehensive expense for the period was HK$30,061,000, compared to a comprehensive income of HK$5,418,000 in the previous period[12]. - Basic and diluted loss per share was HK$(2.67) cents, compared to earnings of HK$7.36 cents per share in the previous period[12]. - The company reported a total comprehensive loss of HK$30,061,000 for the period, compared to a total comprehensive income of HK$5,418,000 for the same period in 2023[20]. - Loss attributable to owners of the Company was approximately HK$21.6 million for the six months ended December 31, 2024, compared to a profit of approximately HK$51 million in the previous period[140]. Assets and Liabilities - Non-current assets as of December 31, 2024, totaled HK$44,051,000, an increase from HK$42,383,000 as of June 30, 2024[14]. - Current assets decreased to HK$212,443,000 from HK$220,006,000 as of June 30, 2024[14]. - As of December 31, 2024, the company's net assets decreased to HK$89,743,000 from HK$96,469,000 as of June 30, 2024, representing a decline of approximately 6.5%[17]. - The total equity attributable to owners of the company decreased to HK$93,160,000 from HK$96,494,000, reflecting a decrease of about 3.4%[17]. - Trade receivables decreased to HK$134,555,000 as of December 31, 2024, down from HK$150,366,000 as of June 30, 2024[91]. - The provision for impairment losses on trade receivables increased to HK$14,960,000 from HK$7,529,000[91]. - The carrying value of property, plant, and equipment decreased to HK$6,260,000 as of December 31, 2024, from HK$7,045,000 at the beginning of the period[80]. Cash Flow - The net cash used in operating activities for the six months ended December 31, 2024, was HK$15,857,000, a significant increase in cash outflow compared to HK$108,869,000 for the same period in 2023[24]. - Cash outflows from investing activities amounted to HK$14,646,000 for the six months ended December 31, 2024, compared to cash inflows of HK$53,653,000 in the previous year[24]. - The Group experienced a net decrease in cash and cash equivalents of HK$2,710,000, contrasting with an increase of HK$3,118,000 in the same period of 2023[27]. - The Group's cash and cash equivalents at the end of the period were HK$7,202,000, down 15.5% from HK$8,527,000 at the end of the previous period[27]. Revenue Breakdown - Revenue from Smart City Solutions was HK$15,833,000, down 78.6% from HK$73,962,000 in the previous year[46]. - Revenue from the design and sales of renewable energy products and solutions was HK$5,829,000, a decrease of 62.1% from HK$15,374,000 in the prior period[46]. - The decrease in revenue was primarily attributed to lower contract volumes from Smart City Solutions and renewable energy segments due to supply shortages and government policy changes[140]. Share Capital and Financing - The issuance of new shares resulted in an increase in share capital to HK$8,206,000 as of December 31, 2024, from HK$6,838,000 as of July 1, 2024[20]. - The net cash generated from financing activities was HK$27,793,000, compared to HK$58,334,000 in the same period last year, reflecting a decline of 52.4%[27]. - The company raised gross proceeds of approximately HK$23,934,000 from the issuance of 136,764,000 ordinary shares at a placing price of HK$0.175 per share on July 19, 2024, to be used for general working capital[122]. Impairment and Losses - The company incurred impairment losses on loan receivables, trade, and other receivables amounting to HK$7,653,000, up from HK$3,684,000 in the previous year[24]. - The provision for impairment losses on loan receivables increased to HK$296,000 as of December 31, 2024, from HK$174,000 as of June 30, 2024, reflecting a cautious approach to credit risk management[101]. Taxation - Current tax expenses for the six months ended December 31, 2024, were HK$1,294,000, reflecting the company's tax obligations in both Hong Kong and the PRC[60]. - The company’s operations in the PRC benefited from a reduced tax rate of 5% during the review period, compared to the standard rate of 25%[63]. Management and Strategy - General and administrative expenses increased by approximately 52.8% to approximately HK$17.6 million for the six months ended December 31, 2024, up from approximately HK$11.5 million in the previous period[142]. - The management strategy focuses on stringent cost control to enhance return on investments despite increased expenses related to new green energy initiatives[142]. Market and Business Development - The Renewable Energy Business faced significant challenges from 2020 to early 2024, including delays in approvals and a sudden cut in Feed-in Tariff (FiT) rates by the Hong Kong Government, which discouraged customer orders[166][167]. - The Group successfully commenced sales, design, and installation of SPV Systems to Southeast Asia customers during the review period, expanding its market presence[171]. - In August 2024, the Group secured official validation for its Oxyhydrogen Gas System technology from government bodies in China, enabling trial production[172]. Investments - The fair value of listed equity investments in Hong Kong was approximately HK$15.2 million, up from approximately HK$10.4 million on June 30, 2024[182]. - The investment portfolio included 8 equity securities, with 6 listed on the Main Board and 2 on the GEM of the Stock Exchange[182].

Financial Performance - Revenue for the year ended June 30, 2024, was HK$208,612,000, a significant increase from HK$25,292,000 in 2023, representing a growth of 726%[4] - Attributable loss from continuing operations for 2024 was HK$12,420,000, slightly higher than the loss of HK$12,745,000 in 2023[4] - Total revenue for the Group reached approximately HK$209 million in 2024, compared to HK$25 million in 2023, an increase of about 736%[17] - Loss attributable to owners of the Company was approximately HK$12.4 million, slightly up from HK$12.2 million in the previous year[20] - The gross profit ratio decreased from 16% to 5.5%, primarily due to lower margins in the smart city solution business[20] Assets and Liabilities - Total assets increased to HK$262,389,000 in 2024 from HK$174,030,000 in 2023, reflecting a growth of 51%[4] - Cash and cash equivalents as of June 30, 2024, amounted to HK$14,699,000, up from HK$9,147,000 in 2023, indicating a 61% increase[4] - The company's equity as of June 30, 2024, was HK$96,494,000, down from HK$111,252,000 in 2023, showing a decrease of 13%[4] - The current assets to current liabilities ratio decreased to 1.39 in 2024 from 3.51 in 2023, indicating a decline in liquidity[4] - The Group's current assets as of June 30, 2024, were approximately HK$220 million, up from approximately HK$131 million in 2023, while current liabilities increased to approximately HK$158 million from HK$37 million[56] Business Strategy and Focus - The company is focusing on expanding its market presence and developing new technologies to enhance future growth prospects[4] - The Group's strategic focus includes partnerships with state-owned enterprises and those under local government control to mitigate bad debt risks[12] - The Group is shifting focus to medium to large-scale renewable energy projects due to the decreasing duration of the Feed-in Tariff scheme in Hong Kong[52] - The Group is committed to expanding its Smart City Solution Business, actively seeking new market prospects across different cities in Mainland China[52] - The Group's smart city solutions and renewable energy sectors are key components of the Company's business strategy[22] Investments and Acquisitions - The Group acquired a 51% stake in Innovative Ecoglory Technology Company Limited in June 2024 to enhance its green energy portfolio[11] - The Group acquired a 51% equity stake in Innovative Ecoglory Technology Company Limited for a total investment of RMB5.14 million, based on proof of concept and laboratory results[51] - The Group successfully commenced sales of its SPV Systems in the second half of the year to Southeast Asia customers, expanding market presence[27] - The Group is negotiating with multiple biomass power plants and major oxygen consumers, aiming to establish a substantial production facility within the next 12 to 36 months[51] Financial Management and Capital Structure - The company raised approximately HK$198 million through a rights issue, with the proceeds intended for loan repayment and business facilitation in oil trading, renewable energy, and IT projects[57] - A total of HK$126 million was utilized for loan repayment to Guangdong Finance Limited, HK$41 million for promissory note payables, HK$22.8 million for trading business, and HK$3.6 million for renewable energy projects[58] - The Group's borrowings were utilized by subsidiaries in the form of fixed loans, margin loans, and promissory notes, with all borrowings denominated in local currencies, resulting in insignificant currency risk exposure[64] - The Group's liquid assets totaled approximately HK$14.7 million as of June 30, 2024, compared to approximately HK$9.1 million in 2023[56] - The Group had no borrowings as of June 30, 2024, resulting in a gearing ratio of zero[56] Market Conditions and Economic Factors - China's fiscal stimulus measures are anticipated to enhance liquidity in the financial system, facilitating easier lending to businesses and consumers[15] - The ongoing geopolitical conflicts and economic challenges have prompted the Group to prioritize low-cost green energy initiatives[11] - Energy prices are expected to remain relevant to the company's business in the foreseeable future due to ongoing global conflicts[50] - The Ukraine conflict has led to disruptions in oil and gas supplies, resulting in increased global energy prices and inflationary pressures[50] Corporate Governance and Compliance - The Group has complied with the Corporate Governance Code during the year ended June 30, 2024[167] - The Board will review its corporate governance practices annually and make necessary changes if needed[167] - The Company is committed to maintaining compliance with applicable laws and regulations, ensuring no significant breaches occurred during the year[89] - The Board discusses overall strategies, monitors financial performance, and reviews annual and interim results during regular meetings[190] Employee and Community Engagement - The Group provides on-the-job training and development opportunities to enhance employees' career progression and values their health and well-being[92] - The company made charitable donations amounting to HK$10,500 in 2024, compared to HK$11,200 in 2023, representing a decrease of approximately 6.25%[104] Shareholder Information - The Directors do not recommend any dividend for the year ended June 30, 2024, with capital reserved for business expansion and future investment opportunities[92] - The Company has established a Dividend Policy, which is reviewed periodically, but there is no assurance of dividend payments in any specific amount[96][98] - For the year ended 30 June 2024, sales to the Group's five largest customers accounted for approximately 88% of total revenue, with the largest customer contributing about 52%[141]