泛海國際集團有限公司 2025 中期報告 股份代號 : 129 www.asiastandard.com 目錄 2 公司資料 3 財務摘要 4 管理層討論及分析 11 綜合損益賬報表（未經審核） 12 綜合全面收益表（未經審核） 13 綜合資產負債表（未經審核） 15 簡明綜合現金流量表（未經審核） 16 綜合權益變動報表（未經審核） 17 中期財務報表附註 46 其他資料 公司資料 董事 執行董事 馮兆滔先生 （主席） 潘政先生 （董事總經理 兼行政總裁） 潘海先生 潘澄女士 （於二零二五年九月一日 由非執行董事調任為執行董事） 潘洋先生 倫培根先生 （於二零二五年八月二十五日 退任） 關堡林先生 獨立非執行董事 葉志威先生 梁偉強先生， 太平紳士 馬豪輝先生， 金紫荊星章，太平紳士 （於二零二五年七月二日獲委任） 黃之強先生 審核委員會 黃之強先生 （主席） 葉志威先生 梁偉強先生， 太平紳士 薪酬委員會 黃之強先生 （主席） 馮兆滔先生 潘海先生 葉志威先生 梁偉強先生， 太平紳士 提名委員會 馮兆滔先生 （主席） 梁偉強先生， 太平紳士 黃之強先生 法定代表 馮兆滔先生 董國磊先生 公司秘書 董國磊先 ...

Core Insights - As of December 10, 30 stocks reached their 52-week highs, with Design Metropolis (01545), Platinum Holdings (00459), and China Boton (03318) leading the increase rates at 40.82%, 35.48%, and 30.23% respectively [1][2] 52-Week Highs - Design Metropolis (01545) closed at 0.124, with a peak of 0.138, achieving a high rate of 40.82% [1] - Platinum Holdings (00459) closed at 0.121, with a peak of 0.126, achieving a high rate of 35.48% [1] - China Boton (03318) closed at 2.090, with a peak of 2.800, achieving a high rate of 30.23% [1] - Other notable stocks include: - China New Holdings (08125) at 25.00% [1] - Qiaoyang International Holdings (08070) at 14.46% [1] 52-Week Lows - The stock with the largest decline was Jingye Mingbang Group (02231), which fell to 0.099, a decrease of 26.40% [2] - Other significant declines included: - Zhonggang Petroleum (00632) at -16.40% [2] - Guofu Hydrogen Energy (02582) at -13.31% [2] - Additional stocks with notable declines: - Haotian International Construction Investment (01341) at -11.11% [2] - Jiaming Group Holdings (01271) at -10.00% [2]

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 泛海國際集團有限公司 呈交日期: 2025年12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) | 00129 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 400,000,000,000 | HKD | | 0.01 HKD | | 4,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 400,000,000,000 | HKD | | 0.01 HKD | | 4,000,000,000 | 本月底法定/註冊 ...

Core Viewpoint - 泛海集团 reported a significant increase in revenue for the six months ending September 30, 2025, primarily driven by sales from the 洪水桥 "汇都" residential units [1] Financial Performance - The company achieved a revenue of 5.34 billion HKD, representing a year-on-year increase of 237.33% [1] - Shareholders experienced a loss of 344 million HKD, which is a 10.88% reduction compared to the previous year [1] - The basic loss per share was reported at 0.24 HKD [1]

Core Viewpoint - Pan Hai Group (00129) reported a significant increase in revenue for the six months ending September 30, 2025, primarily driven by sales from the Hung Fook Bridge "Hui Du" residential units [1] Financial Performance - The company achieved a revenue of HKD 5.34 billion, representing a year-on-year increase of 237.33% [1] - Shareholders' attributable loss was HKD 344 million, which is a year-on-year decrease of 10.88% [1] - Basic loss per share was HKD 0.24 [1]

Core Insights - The company reported a significant turnaround in its financial performance, with a basic profit attributable to shareholders of HKD 189 million for the six months ending September 30, 2025, compared to a loss of HKD 115 million in the same period of 2024 [1] - Revenue surged by 237% to HKD 5.34 billion, up from HKD 1.58 billion in 2024, primarily driven by sales from the residential units at the "滙都" project in 洪水桥 [1] - Despite the positive operational results, the company recorded a statutory loss attributable to shareholders of HKD 344 million, slightly improved from a loss of HKD 386 million in 2024, mainly due to net losses from financial investments and revaluation losses on investment properties [1] Financial Performance - Basic profit attributable to shareholders: HKD 189 million (2024: loss of HKD 115 million) [1] - Revenue: HKD 5.34 billion (2024: HKD 1.58 billion) [1] - Statutory loss attributable to shareholders: HKD 344 million (2024: loss of HKD 386 million) [1] - Net loss from financial investments: HKD 361 million (2024: HKD 336 million) [1] - Revaluation loss on investment properties: HKD 340 million (2024: HKD 266 million) [1] Business Strategy - The company's operational strategy focuses on core real estate development and management, encompassing three main pillars: property development sales, leasing, and hotel operations [1]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 5,340 million, representing a 237% increase compared to HKD 1,583 million in the same period of 2024[3] - Basic loss per share improved by 17% to HKD (0.24) from HKD (0.29) in the previous year[3] - The company reported a net loss before tax of HKD 309,632 for the six months ended September 30, 2025, compared to a loss of HKD 298,107 in the same period of 2024[10] - The company recorded a net financial investment loss of HKD 361 million for the period, compared to HKD 336 million in the previous year[27] - The total cost of properties sold and goods for the period was HKD 4.107 billion, significantly higher than HKD 484.81 million in the previous year[15] Asset and Liability Management - Total assets as of September 30, 2025, were HKD 27,370 million, down 11% from HKD 30,926 million as of March 31, 2025[3] - Net debt decreased by 14% to HKD 12,468 million from HKD 14,480 million[3] - The debt-to-revalued net asset ratio improved to 55% from 64%[3] - The company’s bank loans totaled HKD 14,744,259, reflecting a decrease from HKD 15,932,928 in the previous reporting period[11] - The company’s total liabilities included a net financing cost of HKD 273.98 million for the six months ended September 30, 2025, compared to HKD 313.54 million in 2024[16] Revenue Sources - Property sales contributed HKD 4,850,157 to the total revenue, while hotel operations generated HKD 183,150, both showing substantial increases compared to the previous year[12] - The contribution from property leasing was HKD 70,940, which increased from HKD 59,102 year-over-year[12] - Hotel revenue in Hong Kong grew by 16% to HKD 183 million, with an average occupancy rate of 98%[36] - The company’s interest income from listed investments was HKD 127.76 million for the six months ended September 30, 2025, compared to HKD 133.83 million in 2024[15] Market and Economic Outlook - The Hong Kong economy is projected to show an upward trend in 2025, with a GDP growth of 3.8% year-on-year in Q3, driven by strong exports and increased consumption[43] - The residential property market is experiencing robust growth, with transaction volumes rising due to low interest rates, pent-up demand, and new immigrants[45] - The luxury property market has rebounded strongly, supported by rising stock markets, lower financing costs, and government measures to attract talent and investment immigrants[45] - Positive signs of recovery are emerging in the office market, particularly in the Central district, with increased demand from wealth management firms and international financial institutions[46][47] Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities transactions as per the Hong Kong Stock Exchange regulations, confirming compliance during the reporting period[50] - The company has complied with the corporate governance code, except for one instance where an independent non-executive director was unable to attend the annual general meeting due to other commitments[51] - The company is actively seeking a suitable candidate to fulfill the requirement for independent non-executive directors as per listing rules, with a recent appointment made effective from July 2, 2025[52] Strategic Focus - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming periods[5] - The company is actively restructuring projects to enhance efficiency and maximize value, including increasing saleable area[33] Shareholder Returns - The company did not recommend an interim dividend for the six months ended September 30, 2025, consistent with the previous year[18] - The board does not recommend the distribution of an interim dividend for the six months ending September 30, 2025[48] - The company did not repurchase any shares during the period and did not buy or sell any listed securities[49]

格隆汇11月14日丨泛海集团(00129.HK)宣布，谨定于2025年11月26日(星期三)中午十二时正于香港湾仔 骆克道33号万通保险大厦30楼举行董事会会议，藉以批准(当中包括)公司及其附属公司截至2025年9月 30日止六个月的中期业绩及考虑宣派中期股息的建议(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。 ASIA STANDARD INTERNATIONAL GROUP LIMITED 泛 海 國 際 集 團 有 限 公 司 * 董事會會議通告 泛海國際集團有限公司(「本公司 」)董事會(「 董事會 」)茲宣佈，謹定於二 零二五年十一月二十六日(星期三)中午十二時正於香港灣仔駱克道 33 號 萬 通保險大廈 30 樓舉行董事會會議，藉以批准(當 中包括)本公司及其附屬公 司截至二零二五年九月三十日止六個月之中期業績及考慮宣派中期股息的 建議(如有)。 承董事會命 泛 海 國 際 集 團 有 限 公 司 主席 馮兆滔 香港，二零二五年十一月十四日 於本公告刊發日期，本公司之執行董事 為馮兆滔先生、潘政先生、潘海先 生、潘澄女士、潘洋先生及關堡林先生 ；及本公司之獨立非執行董事為葉 志威先生、梁偉強先生、馬豪 輝先生及黃之強先生。 * 僅供識別 （於百慕達註冊成立之有限公司） （股份代號：129） ...

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10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: 泛海國際集團有限公司 呈交日期: 2025年11月3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) | 00129 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 400,000,000,000 | HKD | | 0.01 HKD | | 4,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 400,000,000,000 | HKD | | 0.01 HKD | | 4,000,000,000 | 本月底法定/註冊 ...