Group 1 - The company reported a revenue of HKD 1.302 billion for the six months ending June 30, 2025, representing a year-on-year increase of 6.3% [1] - The net loss narrowed to HKD 158 million, a reduction of 59.3% compared to the previous year [1] - The basic loss per share was HKD 0.33, and the company proposed an interim dividend of HKD 0.0275 per share [1]

Group 1 - The company reported a revenue of HKD 1.302 billion for the six months ending June 30, 2025, representing a year-on-year growth of 6.3% [1] - The net loss narrowed to HKD 158 million, a decrease of 59.3% compared to the previous year [1] - The basic loss per share was HKD 0.33, and the company proposed an interim dividend of HKD 0.0275 per share [1]

EF001 第 1 頁 共 2 頁 v 1.1.1 EF001 其他信息 其他信息 不適用 發行人董事 於本公佈日期，執行董事為王忠秣先生、王賢敏女士、陳子華博士、熊永順先生及陳偉明先生；及獨立非執行董事為李家祥博士 (GBS，OBE，太平紳士)、楊孫西博士(GBM，太平紳士) 、葉天養先生(太平紳士) 及羅偉浩先生。 免責聲明 | 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，概不對因 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的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 王氏國際集團有限公司 | | 股份代號 | 00099 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月的中期股息 | | 公告日期 | 2025年8月26日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | ...

[Financial Summary](index=1&type=section&id=Financial%20Summary) [Key Financial Indicators](index=1&type=section&id=Key%20Financial%20Indicators) For the six months ended June 30, 2025, the Group's loss significantly narrowed, mainly due to a smaller decrease in property value changes, with underlying profit showing a modest increase Key Financial Performance Comparison (For the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Loss attributable to owners of the Company | (158,400) | (388,900) | 230,500 | -59.27% | | Decrease in value of investment properties and completed property inventories | (214,800) | (443,300) | 228,500 | -51.55% | | Underlying profit attributable to owners of the Company (excluding property changes) | 56,400 | 54,300 | 2,100 | 3.87% | [Condensed Consolidated Interim Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) [Condensed Consolidated Interim Statement of Profit or Loss](index=2&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Profit%20or%20Loss) Revenue increased by 6.35% for the six months ended June 30, 2025, with operating loss significantly narrowing due to reduced property fair value and joint venture losses Key Data from Condensed Consolidated Interim Statement of Profit or Loss (HK$ thousand) | Metric | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 1,302,141 | 1,224,403 | 77,738 | 6.35% | | Operating loss | (32,372) | (144,205) | 111,833 | -77.55% | | Fair value changes of investment properties | (107,196) | (210,927) | 103,731 | -49.18% | | Share of losses of joint ventures | (83,321) | (200,847) | 117,526 | -58.52% | | Loss before income tax | (139,086) | (371,741) | 232,655 | -62.58% | | Loss attributable to owners of the Company | (158,430) | (388,916) | 230,486 | -59.26% | [Condensed Consolidated Interim Statement of Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, total comprehensive loss significantly narrowed, driven by reduced period loss and a positive currency translation difference Key Data from Condensed Consolidated Interim Statement of Comprehensive Income (HK$ thousand) | Metric | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Loss for the period | (158,430) | (388,916) | 230,486 | -59.26% | | Currency translation differences – Group | 79,545 | (59,230) | 138,775 | -234.38% | | Other comprehensive income / (loss) for the period, net of tax | 46,577 | (59,392) | 105,969 | -178.43% | | Total comprehensive loss for the period attributable to owners of the Company | (111,853) | (448,308) | 336,455 | -75.05% | [Condensed Consolidated Interim Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets, liabilities, and equity decreased, mainly due to reduced investment properties and interests in joint ventures Key Data from Condensed Consolidated Interim Statement of Financial Position (HK$ thousand) | Metric | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total assets | 5,945,157 | 6,158,836 | (213,679) | -3.47% | | Total liabilities | 2,553,963 | 2,641,434 | (87,471) | -3.31% | | Total equity | 3,391,194 | 3,517,402 | (126,208) | -3.59% | | Investment properties | 1,366,723 | 1,473,317 | (106,594) | -7.24% | | Interests in joint ventures | 1,493,969 | 1,591,570 | (97,601) | -6.13% | | Trade receivables | 788,447 | 865,107 | (76,660) | -8.86% | | Cash and cash equivalents | 883,592 | 719,846 | 163,746 | 22.75% | [Condensed Consolidated Interim Statement of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, total equity attributable to owners decreased, mainly due to period loss and dividends, partially offset by positive currency translation differences Key Data from Condensed Consolidated Interim Statement of Changes in Equity (HK$ thousand) | Metric | June 30, 2025 | January 1, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total equity at end of period | 3,391,194 | 4,474,267 | (1,083,073) | -24.21% | | Loss for the period | (158,430) | (388,916) | 230,486 | -59.26% | | Currency translation differences | 79,545 | (59,230) | 138,775 | -234.38% | | Dividends paid to owners of the Company | (14,355) | (14,355) | 0 | 0.00% | [Notes to the Financial Statements](index=7&type=section&id=Notes%20to%20the%20Financial%20Statements) [Basis of Preparation and Accounting Policies](index=7&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) Interim financial information is prepared under HKAS 34, using historical cost with fair value adjustments for certain financial instruments and investment properties; new standards adopted have no significant impact [Basis of Preparation](index=7&type=section&id=Basis%20of%20Preparation) Interim financial information is prepared under HKAS 34, using historical cost convention with fair value adjustments for derivative financial instruments, financial assets, and investment properties - Interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants - Interim financial information is prepared on the historical cost convention, modified by the revaluation of derivative financial instruments, financial assets at fair value through other comprehensive income, and investment properties carried at fair value [Adopted and Unadopted Standards](index=7&type=section&id=Adopted%20and%20Unadopted%20Standards) The Group adopted revised HKAS 21 and HKFRS 1 on January 1, 2025, with no significant financial impact; HKFRS 18 will affect statement presentation and disclosures - The Group has first applied the revised standards: HKAS 21 and HKFRS 1 Amendments "Lack of Exchangeability" for the annual reporting period beginning January 1, 2025[11](index=11&type=chunk) - The application of the above revised standards has had no impact on the amounts recognised in prior periods and is not expected to have a significant impact on the current or future periods[11](index=11&type=chunk) - HKFRS 18 will introduce new requirements for presentation in the consolidated statement of comprehensive income, including classifying all income and expenses into five categories: operating, investing, financing, income tax, and discontinued operations, and requiring disclosure of management-defined performance measures[15](index=15&type=chunk) - Interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants[10](index=10&type=chunk) - The Group has first applied the revised standards: HKAS 21 and HKFRS 1 Amendments "Lack of Exchangeability" for the annual reporting period beginning January 1, 2025, and is not expected to have a significant impact on the current or future periods[11](index=11&type=chunk) - HKFRS 18 will introduce new requirements for presentation in the consolidated statement of comprehensive income, including classifying all income and expenses into five categories: operating, investing, financing, income tax, and discontinued operations, and requiring disclosure of management-defined performance measures, but is not expected to have a significant impact on operating results and financial position[15](index=15&type=chunk) [Segment Information](index=8&type=section&id=Segment%20Information) The Group operates in EMS and Property Holding segments; EMS saw profit growth, Property Holding narrowed losses, and Asia (excluding Hong Kong) and North America are key revenue sources [Overview of Operating Segments](index=8&type=section&id=Overview%20of%20Operating%20Segments) The Group's operating segments are Electronic Manufacturing Services (EMS) and Property Holding, with performance regularly reviewed by key operating decision-makers for resource allocation - The Group is currently organised into two operating segments: Electronic Manufacturing Services (EMS) and Property Holding[17](index=17&type=chunk) - The chief operating decision-maker assesses the performance of the operating segments based on segment results (operating segment profit or loss before other income, other gains – net, and finance costs – net, but excluding corporate and unallocated expenses)[18](index=18&type=chunk) [Segment Results and Assets](index=9&type=section&id=Segment%20Results%20and%20Assets) EMS segment revenue and results grew, while the Property Holding segment significantly narrowed its loss; EMS assets slightly increased, and Property Holding assets decreased Segment Results Comparison (For the six months ended June 30, HK$ thousand) | Metric | EMS Segment (2025) | EMS Segment (2024) | Property Holding Segment (2025) | Property Holding Segment (2024) | | :--- | :--- | :--- | :--- | :--- | | External revenue | 1,271,379 | 1,193,142 | 30,762 | 31,261 | | Segment results | 81,769 | 64,347 | (179,677) | (409,914) | | Share of losses of joint ventures | – | – | (83,322) | (200,847) | | Fair value changes of investment properties | – | – | (107,196) | (210,927) | Segment Assets Comparison (HK$ thousand) | Metric | EMS Segment (June 30, 2025) | EMS Segment (December 31, 2024) | Property Holding Segment (June 30, 2025) | Property Holding Segment (December 31, 2024) | | :--- | :--- | :--- | :--- | :--- | | Segment assets | 2,741,369 | 2,725,170 | 1,536,625 | 1,655,939 | | Interests in joint ventures | – | – | 1,493,969 | 1,591,970 | | Total reportable segment assets | 2,741,369 | 2,725,170 | 3,030,594 | 3,247,509 | [Geographical Market Analysis](index=11&type=section&id=Geographical%20Market%20Analysis) Group revenue primarily from Asia (ex-Hong Kong), Europe, and North America, with significant growth in the latter two; non-current assets are concentrated in Hong Kong and Asia (ex-Hong Kong) Revenue Analysis by Geographical Market (For the six months ended June 30, HK$ thousand) | Region | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | North America | 208,972 | 157,169 | 51,803 | 32.96% | | Asia (excluding Hong Kong) | 699,471 | 775,133 | (75,662) | -9.76% | | Europe | 307,457 | 198,497 | 108,960 | 54.90% | | Hong Kong | 86,241 | 93,604 | (7,363) | -7.87% | | **Total** | **1,302,141** | **1,224,403** | **77,738** | **6.35%** | Non-current Assets Analysis by Geographical Market (HK$ thousand) | Region | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Asia (excluding Hong Kong) | 262,559 | 248,080 | 14,479 | 5.84% | | Hong Kong | 2,984,543 | 3,197,570 | (213,027) | -6.66% | | **Total** | **3,247,113** | **3,445,665** | **(198,552)** | **-5.76%** | - For the six months ended June 30, 2025, approximately **HK$628.39 million** and **HK$152.19 million** of revenue were derived from two major external customers, both attributable to the EMS segment[22](index=22&type=chunk) - The Group is currently organised into two operating segments: Electronic Manufacturing Services (EMS) and Property Holding[17](index=17&type=chunk) Segment Results Comparison (For the six months ended June 30, HK$ thousand) | Metric | EMS Segment (2025) | EMS Segment (2024) | Property Holding Segment (2025) | Property Holding Segment (2024) | | :--- | :--- | :--- | :--- | :--- | | External revenue | 1,271,379 | 1,193,142 | 30,762 | 31,261 | | Segment results | 81,769 | 64,347 | (179,677) | (409,914) | | Share of losses of joint ventures | – | – | (83,322) | (200,847) | | Fair value changes of investment properties | – | – | (107,196) | (210,927) | Revenue Analysis by Geographical Market (For the six months ended June 30, HK$ thousand) | Region | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | North America | 208,972 | 157,169 | 51,803 | 32.96% | | Asia (excluding Hong Kong) | 699,471 | 775,133 | (75,662) | -9.76% | | Europe | 307,457 | 198,497 | 108,960 | 54.90% | | Hong Kong | 86,241 | 93,604 | (7,363) | -7.87% | | **Total** | **1,302,141** | **1,224,403** | **77,738** | **6.35%** | [Other (Losses) / Gains – Net](index=12&type=section&id=Other%20(Losses)%20%2F%20Gains%20%E2%80%93%20Net) For the six months ended June 30, 2025, the Group recorded other net losses, primarily from increased exchange losses offsetting gains from asset sales Other (Losses) / Gains – Net (For the six months ended June 30, HK$ thousand) | Metric | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Gain on disposal of property, plant and equipment | 650 | 1,288 | (638) | -49.53% | | Exchange (losses) / gains – net | (8,444) | 9,689 | (18,133) | -187.15% | | **Total** | **(7,794)** | **10,977** | **(18,771)** | **-171.01%** | [Income Tax Expense](index=12&type=section&id=Income%20Tax%20Expense) For the six months ended June 30, 2025, income tax expense increased, mainly due to higher overseas taxes partially offset by a decrease in deferred income tax Income Tax Expense (For the six months ended June 30, HK$ thousand) | Metric | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Current income tax – Hong Kong profits tax | (290) | 3,498 | (3,788) | -108.29% | | Current income tax – Overseas tax | 20,688 | 13,010 | 7,678 | 59.02% | | Withholding tax on dividends paid by PRC-incorporated subsidiaries | 8,072 | 8,611 | (539) | -6.26% | | Deferred income tax | (9,126) | (7,944) | (1,182) | 14.88% | | **Total** | **19,344** | **17,175** | **2,169** | **12.63%** | - Hong Kong profits tax is provided at a rate of **16.5%**, while PRC subsidiaries are subject to enterprise income tax at **25%**, except for Wah Gao Technology (Suzhou) Co., Ltd., which is taxed at **15%**[25](index=25&type=chunk) [Dividends](index=13&type=section&id=Dividends) The Board resolved to pay an interim dividend of HK$0.0275 per share, consistent with the prior year, totaling HK$13.158 million - The Board has resolved to declare an interim dividend of **HK$0.0275** per share (2024: HK$0.0275 per share)[27](index=27&type=chunk) - The dividend will be payable on **September 26, 2025**, to shareholders whose names appear on the register of members on **September 12, 2025**[27](index=27&type=chunk) - The interim dividend amounts to **HK$13.158 million** (2024: HK$13.158 million) and has not been recognised as a liability in this interim financial information[27](index=27&type=chunk) [Loss Per Share](index=13&type=section&id=Loss%20Per%20Share) For the six months ended June 30, 2025, basic loss per share significantly narrowed to HK$0.33; no diluted loss per share was reported due to the absence of dilutive ordinary shares Loss Per Share (For the six months ended June 30) | Metric | 2025 | 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Loss attributable to owners of the Company (HK$ thousand) | (158,430) | (388,916) | 230,486 | -59.26% | | Weighted average number of ordinary shares outstanding (thousand shares) | 478,484 | 478,484 | 0 | 0.00% | | Basic loss per share (HK$) | (0.33) | (0.81) | 0.48 | -59.26% | - No diluted loss per share is presented for both periods as there were no potential dilutive ordinary shares outstanding during either period[29](index=29&type=chunk) [Interests in Joint Ventures](index=13&type=section&id=Interests%20in%20Joint%20Ventures) As of June 30, 2025, total interests in joint ventures decreased, primarily due to the share of losses from joint ventures, including fair value losses on investment properties Interests in Joint Ventures (HK$ thousand) | Metric | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Share of net assets | 521,374 | 604,695 | (83,321) | -13.78% | | Loans to joint ventures | 972,595 | 986,875 | (14,280) | -1.45% | | **Total** | **1,493,969** | **1,591,570** | **(97,601)** | **-6.13%** | - Share of losses from joint ventures includes fair value losses on investment properties owned by joint ventures (net of deferred income tax) of approximately **HK$97.775 million** (2024: HK$214.327 million)[31](index=31&type=chunk) - Loans to joint ventures are unsecured, interest-free, and repayment arrangements are subject to agreements with joint venture partners[30](index=30&type=chunk) [Trade Receivables](index=14&type=section&id=Trade%20Receivables) As of June 30, 2025, total trade receivables decreased, mainly due to a reduction in amounts aged 61-90 days and over 90 days Trade Receivables (HK$ thousand) | Metric | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total trade receivables | 788,907 | 865,545 | (76,638) | -8.85% | | Less: Impairment allowance | (460) | (438) | (22) | 5.02% | | **Net** | **788,447** | **865,107** | **(76,660)** | **-8.86%** | Trade Receivables Aging Analysis (HK$ thousand) | Aging | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | 0 to 60 days | 530,242 | 506,851 | 23,391 | 4.62% | | 61 to 90 days | 127,918 | 180,405 | (52,487) | -29.10% | | Over 90 days | 130,747 | 178,289 | (47,541) | -26.67% | | **Total** | **788,907** | **865,545** | **(76,638)** | **-8.85%** | - The Group grants credit periods to trade customers ranging mainly from **30 to 120 days**, with no interest charged[32](index=32&type=chunk) [Trade Payables](index=15&type=section&id=Trade%20Payables) As of June 30, 2025, total trade payables slightly decreased, with a reduction in 0-60 day amounts and an increase in over 90 day amounts Trade Payables Aging Analysis (HK$ thousand) | Aging | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | 0 to 60 days | 313,930 | 376,770 | (62,840) | -16.68% | | 61 to 90 days | 49,587 | 47,815 | 1,772 | 3.71% | | Over 90 days | 177,587 | 123,436 | 54,151 | 43.87% | | **Total** | **541,104** | **548,021** | **(6,917)** | **-1.26%** | [Loans](index=15&type=section&id=Loans) As of June 30, 2025, total loans decreased, with a reduction in non-current loans and an increase in current loans Loan Composition (HK$ thousand) | Loan Type | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Trust receipt bank loans, unsecured | 283,445 | 223,390 | 60,055 | 26.89% | | Short-term bank loans, unsecured | 295,000 | 299,000 | (4,000) | -1.34% | | Short-term bank loans, secured | 115,700 | 115,700 | 0 | 0.00% | | Portion of long-term bank loans, repayable within one year, secured | 97,609 | 104,408 | (6,799) | -6.51% | | Portion of long-term bank loans, repayable after one year, secured | 741,026 | 876,430 | (135,404) | -15.45% | | **Total Loans** | **1,532,780** | **1,618,928** | **(86,148)** | **-5.32%** | | Non-current | 741,026 | 876,430 | (135,404) | -15.45% | | Current | 791,754 | 742,498 | 49,256 | 6.63% | [Business Review](index=16&type=section&id=Business%20Review) [Performance Review](index=16&type=section&id=Performance%20Review) The Group's loss significantly narrowed for the six months ended June 30, 2025, due to reduced property value decreases, increased EMS profit, and lower net finance costs, resulting in a modest underlying profit increase and improved loss per share - Loss attributable to owners of the Company was **HK$158.4 million**, a significant narrowing from **HK$388.9 million** in the prior year[38](index=38&type=chunk) - Reported results include a decrease in the value of investment properties and completed property inventories of **HK$214.8 million**, a smaller decrease compared to **HK$443.3 million** in the prior year[38](index=38&type=chunk) - Underlying profit attributable to owners of the Company (excluding property changes) was **HK$56.4 million**, an increase from **HK$54.3 million** in the prior year, primarily due to a **HK$17.4 million** increase in EMS segment profit and a **HK$3.3 million** decrease in net finance costs[38](index=38&type=chunk) - Loss per share was **HK$0.33**, compared to **HK$0.81** in the prior year[39](index=39&type=chunk) - The Group's revenue was **HK$1,302.1 million**, an increase from **HK$1,224.4 million** in the prior year[39](index=39&type=chunk) - Operating loss was **HK$32.4 million**, a significant narrowing from **HK$144.2 million** in the prior year[39](index=39&type=chunk) [Electronic Manufacturing Services (EMS) Segment](index=17&type=section&id=Electronic%20Manufacturing%20Services%20(EMS)%20Segment) The EMS segment achieved significant revenue and segment profit growth for the six months ended June 30, 2025, driven by increased external customer sales and improved cost efficiency - EMS segment revenue was **HK$1,271.4 million**, an increase from **HK$1,193.1 million** in the prior year[40](index=40&type=chunk) - EMS segment profit was **HK$81.8 million**, a **27.1%** increase from **HK$64.3 million** in the prior year[40](index=40&type=chunk) - The increase in segment net profit was due to increased sales to external customers and improved cost efficiency[40](index=40&type=chunk) [Property Holding Segment](index=17&type=section&id=Property%20Holding%20Segment) The Property Holding segment maintained stable revenue while significantly narrowing its segment loss, indicating an improvement in operating performance - The Property Holding segment recorded revenue of **HK$30.8 million**, close to **HK$31.3 million** in the prior year[41](index=41&type=chunk) - Segment loss for the period was **HK$179.7 million**, a significant narrowing from **HK$409.9 million** in the prior year[41](index=41&type=chunk) [Liquidity and Financial Resources](index=17&type=section&id=Liquidity%20and%20Financial%20Resources) The Group maintains sufficient bank facilities and cash reserves, with total bank loans and net gearing ratio decreasing, indicating a healthy liquidity position - As of June 30, 2025, the Group's total bank facilities amounted to **HK$2,806.2 million** (December 2024: HK$2,908.9 million)[42](index=42&type=chunk) - Total bank loans amounted to **HK$1,532.8 million** (December 2024: HK$1,618.9 million)[42](index=42&type=chunk) - Cash and cash equivalents, short-term bank deposits, and restricted cash totaled **HK$1,427.1 million** (December 2024: HK$1,335.5 million)[42](index=42&type=chunk) - The Group's net gearing ratio as of June 30, 2025, was **0.03** (December 2024: 0.08), indicating reduced financial leverage[42](index=42&type=chunk) [Foreign Exchange and Risk Management](index=17&type=section&id=Foreign%20Exchange%20and%20Risk%20Management) The Group primarily sells in USD, with costs in multiple currencies, and does not use hedging products, but will closely monitor RMB fluctuations for currency risk - The majority of the Group's sales are denominated in **USD**, while costs and expenses are primarily denominated in **USD, HKD, JPY, RMB, and VND**[43](index=43&type=chunk) - The Group does not use any foreign exchange hedging products, consistent with its prudent financial risk management policy[43](index=43&type=chunk) - The Group is aware of the currency risk from RMB fluctuations and will closely monitor and actively manage the associated risks[43](index=43&type=chunk) [Capital Structure](index=17&type=section&id=Capital%20Structure) The Group's capital structure remained stable with no significant changes since December 31, 2024 - The Group's capital structure has not undergone significant changes since December 31, 2024, including bank loans, cash and cash equivalents, short-term bank deposits, restricted cash, and equity attributable to owners of the parent company[44](index=44&type=chunk) [Employees](index=18&type=section&id=Employees) As of June 30, 2025, the Group employed approximately 2,500 staff, with compensation based on job nature, qualifications, and experience, offering bonuses, insurance, and training - As of June 30, 2025, the Group employed approximately **2,500** staff[45](index=45&type=chunk) - Compensation policy is determined by the nature of work, qualifications, and experience of employees, offering year-end bonuses, employee-related insurance benefits, and discretionary bonuses[45](index=45&type=chunk) - The Group also provides internal and external training courses to its employees[45](index=45&type=chunk) [Outlook](index=18&type=section&id=Outlook) For H2 2025, US tariffs, high interest rates, and commodity prices will persist; EMS revenue is expected to be slightly lower, but the Group will invest in Vietnam, expand its customer base, and enhance efficiency, with stable property rental income - US tariff policies, high interest rates, and high commodity prices are expected to persist in the second half of 2025, impacting the EMS business outlook[46](index=46&type=chunk) - The Group anticipates that EMS business revenue in the second half of 2025 will be slightly lower than that recorded in the first half of 2025[46](index=46&type=chunk) - The Group will continue to enhance its dual production bases in Mainland China and Vietnam, investing in the Vietnam factory to expand capacity, improve technical capabilities, and cultivate skilled talent[46](index=46&type=chunk) - The Group is committed to expanding its customer base, particularly in areas with stable long-term demand such as industrial electronics and new energy, and enhancing operational efficiency through increased automation and lean manufacturing[46](index=46&type=chunk) - In the property segment, Hong Kong commercial properties are almost fully leased, providing stable rental income, and the Group maintains hedging strategies to mitigate the impact of high interest rates on finance costs[46](index=46&type=chunk) [Awards and Recognition](index=18&type=section&id=Awards%20and%20Recognition) The Company and its subsidiary, Wang's Electronics Ltd., received the "Caring Company" logo for the thirteenth consecutive year, recognizing their active community involvement and good corporate citizenship - The Company and its wholly-owned subsidiary, Wang's Electronics Limited, have been awarded the "Caring Company" logo by The Hong Kong Council of Social Service for the **thirteenth consecutive year**[47](index=47&type=chunk) - These accolades recognise the Group's active participation in community activities and its role as a good corporate citizen[47](index=47&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=18&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) For the six months ended June 30, 2025, neither the Company nor its subsidiaries purchased, sold, or redeemed any of its listed securities - 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[48](index=48&type=chunk) [Corporate Governance](index=19&type=section&id=Corporate%20Governance) [Corporate Governance Code](index=19&type=section&id=Corporate%20Governance%20Code) The Company complied with the Corporate Governance Code for the six months ended June 30, 2025, with three deviations: combined Chairman/CEO roles, no anonymous whistleblowing, and Remuneration Committee scope - The Company has complied with the code provisions of the Corporate Governance Code as set out in Appendix C1 Part 2 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, with certain deviations[49](index=49&type=chunk) - Deviation from Code Provision C.2.1: The roles of Chairman and Chief Executive Officer are combined and held by Mr. Wong Chung Mat, who the Company believes possesses a thorough understanding and extensive experience, with the Board and independent non-executive directors providing effective checks and balances[49](index=49&type=chunk)[51](index=51&type=chunk) - Deviation from Code Provision D.2.3: The Company's existing whistleblowing policy does not accept anonymous reports, as they are difficult to follow up and investigate effectively, and are expected to place an undue burden on management resources; however, all reports are treated with strict confidentiality[49](index=49&type=chunk) - Deviation from Code Provision E.1.2(i): The terms of reference of the Remuneration Committee do not include reviewing and/or approving matters relating to share schemes as described in Chapter 17 of the Listing Rules; the Company believes the Board as a whole can more effectively discharge its responsibilities in overseeing matters related to such schemes[50](index=50&type=chunk)[52](index=52&type=chunk) [Compliance with the Model Code for Securities Transactions by Directors of Listed Issuers](index=20&type=section&id=Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions%20by%20Directors%20of%20Listed%20Issuers) The Company adopted the Model Code, and all directors confirmed compliance with its required standards for the six months ended June 30, 2025 - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[53](index=53&type=chunk) - Following specific enquiry with all Directors, all Directors have confirmed compliance with the required standards set out in the Model Code for the six months ended June 30, 2025[53](index=53&type=chunk) [Audit Committee](index=20&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviewed accounting principles, internal controls, and financial reporting, including the unaudited interim financial information - The Audit Committee, comprising three independent non-executive directors, has reviewed the accounting principles and practices adopted by the Group with management[54](index=54&type=chunk) - The Audit Committee discussed auditing, internal control, and financial reporting matters, including the review of the unaudited interim financial information for the six months ended June 30, 2025[54](index=54&type=chunk) [Other Information](index=20&type=section&id=Other%20Information) [Publication of Results and Interim Report](index=20&type=section&id=Publication%20of%20Results%20and%20Interim%20Report) This results announcement is published on the Company's and HKEX websites, with the 2025 Interim Report to be published on these sites in due course - This results announcement is published on the Company's website www.wih.com.hk/investor07.asp and the HKEX website www.hkexnews.hk[55](index=55&type=chunk) - The 2025 Interim Report will be published on the aforementioned websites in due course[55](index=55&type=chunk) [Board of Directors](index=20&type=section&id=Board%20of%20Directors) As of the announcement date, the Board comprises five executive directors and four independent non-executive directors - The executive directors are Mr. Wong Chung Mat, Ms. Wong Yin Man, Dr. Chan Tze Wah, Mr. Hung Wing Shun, and Mr. Chan Wai Ming[55](index=55&type=chunk) - The independent non-executive directors are Dr. Lee Ka Cheung, Dr. Yeung Sun Sai, Mr. Yip Tin Yeung, and Mr. Law Wai Ho[55](index=55&type=chunk)

Core Viewpoint - The company, New Continental, has seen an increase in shareholder accounts and a decrease in average shareholding value, despite a slight decline in stock price during the reporting period [1][2]. Group 1: Shareholder Data - As of August 8, 2025, New Continental had 65,401 shareholders, an increase of 2,135 accounts or 3.37% from July 31, 2025 [1][2]. - The average number of shares held per shareholder decreased from 16,300 to 15,800 shares, with an average shareholding value of 458,100 yuan [1][2]. - Compared to the average in the computer equipment industry, New Continental's shareholder count is higher, with the industry average at 50,100 accounts and an average shareholding value of 262,000 yuan [1]. Group 2: Stock Price Performance - From July 31 to August 8, 2025, New Continental's stock price declined by 2.49%, while the number of shareholders increased [1][2]. - Over the past year, the stock price has experienced fluctuations, including a notable drop of 7.78% from July 31 to July 18, 2025 [2]. Group 3: Capital Flow - During the period from July 31 to August 8, 2025, the company experienced a net outflow of 288 million yuan from institutional investors, while retail investors contributed a net inflow of 185 million yuan [3].

Group 1 - The core viewpoint of the article highlights the financial performance and market activity of New大陆 (Newland) as of August 25, 2025, showing a stock price increase and specific trading metrics [1][3] - Newland reported a total operating revenue of 4.02 billion yuan, a year-on-year increase of 10.54%, and a net profit attributable to shareholders of 595 million yuan, up 12.36% year-on-year [1] - The company has a current ratio of 2.033, a quick ratio of 1.816, and a debt-to-asset ratio of 41.21%, indicating a stable financial position [1] Group 2 - Newland has made investments in 32 companies and participated in 1,994 bidding projects, showcasing its active engagement in the market [2] - The company holds 3 trademark registrations and 509 patents, reflecting its focus on intellectual property and innovation [2] - Newland possesses 46 administrative licenses, indicating compliance and operational capabilities within its industry [2]

Company Overview - Wang's International (00099.HK) closed at HKD 1.45 per share, up 9.02% with a trading volume of 57,000 shares and a turnover of HKD 82,600 [1] - The company has experienced a cumulative decline of 0.75% over the past month and a year-to-date increase of 17.67%, underperforming the Hang Seng Index which has risen by 25.45% [2] Financial Performance - For the fiscal year ending December 31, 2024, Wang's International reported total revenue of HKD 2.468 billion, a year-on-year decrease of 16.35% [2] - The net profit attributable to shareholders was a loss of HKD 776 million, representing a significant year-on-year decline of 648.34% [2] - The company's gross margin stands at 29.2%, with a debt-to-asset ratio of 42.89% [2] Valuation Metrics - Currently, there are no institutional investment ratings for Wang's International [3] - The average price-to-earnings (P/E) ratio for the industrial engineering sector is 7.16 times, with a median of 3 times [3] - Wang's International has a P/E ratio of -0.76 times, ranking 193rd in the industry [3] - Comparatively, other companies in the sector have P/E ratios such as China Aerospace Wanyuan (0.32), Yili Holdings (0.39), and Beijing Enterprises Environment Group (3.01) [3] Business Operations - Wang's International Group Limited is a holding company primarily engaged in the development, manufacturing, promotion, and distribution of electronic products, as well as property investment [3] Upcoming Events - The company is scheduled to disclose its interim report for the fiscal year 2025 on August 26, 2025 [4]

Group 1 - The company, Wang's International (00099.HK), will hold a board meeting on August 26, 2025 [1] - The agenda includes reviewing and approving the interim results for the six months ending June 30, 2025, and discussing the proposal for an interim dividend distribution, if any [1]

(股份代號 : 99) 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佈之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分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。 WONG'S INTERNATIONAL HOLDINGS LIMITED 王 氏 國 際 集 團 有 限 公司 ( 於百慕達註冊成立之有限公司 ) 董 事 會 召 開 日 期 王氏國際集團有限公司（「本公司」）董事會（「董事會」或「董事」）僅此 宣佈，董事會會議將於二零二五年八月二十六日（星期二）召開，以（其中 包括 ） 批 准 刊 發 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 之中期業績，及考慮派發中期股息（如有）。 網址: www.wih.com.hk 承董事會命 主席兼行政總裁 王忠秣 香港，二零二五年八月十四日 於本公佈日期，執行董事為王忠秣先生、王賢敏女士、陳子華博士、熊永順先生及陳偉明 先生；及獨立非執行董事為李家祥 博士 ( G B S ， O B E ， 太 平 紳 士 ) 、楊孫西博士 ( G B M ...

Group 1 - The core viewpoint of the news highlights the recent performance of Wang's International, which saw a stock price increase of 8.59% on August 6, closing at HKD 1.39 per share, despite a cumulative increase of only 4.92% over the past month and 13.25% year-to-date, underperforming the Hang Seng Index by 24.14% [1][2] Group 2 - Financial data indicates that Wang's International achieved total revenue of CNY 2.468 billion for the year ending December 31, 2024, representing a year-on-year decrease of 16.35%. The net profit attributable to shareholders was a loss of CNY 777 million, a significant decline of 648.34% compared to the previous year. The gross profit margin stood at 29.2%, and the debt-to-asset ratio was 42.89% [2] Group 3 - Currently, there are no institutional investment ratings for Wang's International. In terms of industry valuation, the average price-to-earnings (P/E) ratio for the industrial engineering sector is 16.74 times, with a median of 3.22 times. Wang's International has a P/E ratio of -0.73 times, ranking 192nd in the industry. Comparatively, other companies in the sector have P/E ratios ranging from 0.32 times to 3.05 times [3]