第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 免責聲明 其他信息 其他信息 不適用 發行人董事 董事會成員包括本公司執行董事張國榮先生、鄭永耀先生、張廣軍先生、何燕生先生、張家成先生、何建芬女士及陳茂盛先生、及 | 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 | 建滔集團有限公司 | | 股份代號 | 00148 | | 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 截至二零二五年六月三十日止六個月之中期股息 | | | 公告日期 | 2025年8月25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 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司對本公佈之內容概 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 會 就 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。 KINGBOARD HOLDINGS LIMITED 建滔集團有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：148） 中期業績公佈 | 財務摘要 | | | | | --- | --- | --- | --- | | | 截至六月三十日止六個月 | | | | | 二零二五年 | 二零二四年 | 變動 | | | 百萬港元 | 百萬港元 | | | 營業額 | 21,608.3 | 20,415.2 | +6% | | 未 扣 除 利 息、稅 項、折 舊 及 | | | | | 攤銷前盈利 | 4,771.2 | 3,736.0 | +28% | | 除稅前溢利 | 3,174.0 | 2,138.7 | +48% | | 本公司持有人應佔純利 | 2,581.6 | 1,506.9 | +71% ...

上市房企再融资获持续松绑的政策刚刚落地，碧桂园(02007.HK)就迅速行动起来。 8月30日早间，碧桂园在港交所公告，公司与认购人订立认购协议，将发行3.51亿股新股，发行价格为每股0.77港元，较公司8月29日收市价每股0.91港元 折让约15.38%。认购股份的总代价为2.70亿港元。本次发行的股份约为公司现有已发行股本的1.27%，约为发行后公司总股本的1.25%。 公告披露，本次新发行股份的认购人为一家根据香港法例注册成立的有限公司。据董事在作出一切合理查询后尽悉及确信，认购人由建滔集团(00148.HK) 全资拥有，且认购人的主要业务为投资控股。 而本次认购股份的总代价2.70亿港元，将用于抵消碧桂园此前根据融资协议欠认购人的部分款项，故公司将不会因本次认购事项而收取现金所得款项。同 时公司将使用内部资源结付本次认购事项承担的专业费用及所有其他相关开支。 换言之，此次新股发行相当于"债转股"，认购人将所持碧桂园的部分债权转换为股份。 此外，为稳妥推进本期债券本息兑付工作，碧桂园于8月29日启动关于"16碧园05"的第二次债券持有人会议。e公司记者从接近碧桂园的人士处获悉，鉴于 该债券持有人均为机构 ...

致：香港交易及結算所有限公司 公司名稱: 建滔集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 截至月份: 2025年7月31日 狀態: 新提交 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 | 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) | 00148 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | | 0.1 HKD | | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | | 本月底結存 | | | 2,000,000,000 | HKD | | | 0.1 HKD | | | 200,000, ...

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index dropping over 1%, ending a five-day winning streak, closing at 25,388.35 points, down 1.09% or 278.83 points, with a total turnover of 281.77 billion HKD [1] - Despite the decline, the Hang Seng Index saw a weekly increase of 2.27%, while the Hang Seng China Enterprises Index and the Hang Seng Tech Index rose by 1.83% and 2.51% respectively [1] Blue Chip Performance - WuXi Biologics (02269) led the blue-chip stocks, rising 5.53% to 31.5 HKD, contributing 9.65 points to the Hang Seng Index, following a profit warning indicating a projected 16% revenue growth in the first half of 2025 [2] - Other notable blue-chip performances included SMIC (00981) up 4.98%, Nongfu Spring (09633) up 3.56%, while New Oriental (09901) and Shenzhou International (02313) saw declines of 3.36% and 2.94% respectively [2] Sector Highlights - Large tech stocks generally declined, with Alibaba down nearly 2% and Tencent over 1% [3] - Semiconductor stocks saw a rally, with Hua Hong Semiconductor rising 9% and SMIC up nearly 5% [3] - The pharmaceutical sector experienced gains, driven by a shift towards value assessment in drug procurement, with notable increases in stocks like Kanglong Chemical (03759) up 7.71% and Zhaoyan New Drug (06127) up 7.02% [4] - Airline stocks were active, with China Eastern Airlines (00670) up 3.69% and Air China (00753) up 3.68%, supported by strong summer travel demand [6][7] Regulatory Developments - The National Healthcare Security Administration announced changes to the 11th batch of centralized procurement, moving away from a simple lowest price reference, which is expected to curb vicious price competition and promote a shift towards value-based competition in the pharmaceutical industry [5] - The introduction of new policies aimed at supporting innovative drugs and medical devices was discussed in a recent meeting, indicating a focus on enhancing the clinical application of high-level technological innovations [5] Notable Stock Movements - Valiant Biopharma (09887) saw a significant increase of 91.71% on its debut, closing at 67.1 HKD, following a successful IPO [9] - Jihong Holdings (02603) rose 15.31% after announcing a projected net profit increase of 97.25% to 108.21% for the first half of 2025 [10] - COSCO Shipping Ports (01199) reached a new high, up 9.31%, amid reports of potential acquisitions of port assets [11] - Kintor Pharmaceutical (00148) announced a profit warning, leading to an 8.29% increase in stock price, with expected profits rising over 70% [12] - Lingbao Gold (03330) also saw gains, up 5.89%, with projected revenue growth of 75% to 85% for the first half of 2025 [13]

Market Overview - A-shares experienced slight adjustments today, with the Shanghai Composite Index dipping below the 3600-point mark, closing down 0.34% at 3593.38 [4][5] - The Shenzhen Component Index fell by 0.29%, while the ChiNext Index decreased by 0.32% [4][5] - The brokerage sector, often seen as a market leader, initially surged but later reversed gains, with stocks like Western Securities hitting the daily limit [6] Sector Performance - The construction decoration, building materials, home appliances, and steel sectors saw declines exceeding 1% [5] - Conversely, the pharmaceutical, computer, light manufacturing, and banking sectors performed relatively well [5] Individual Stock Activity - Individual stocks remained active, with several hitting the daily limit, including Xining Special Steel and Tibet Tourism, both achieving five consecutive trading days of limit-up [9][12] - Tibet Tourism reported a static P/E ratio of 238.16 and a P/B ratio of 3.85, indicating a significant premium over the industry average [12] Futures Market - The futures market saw significant gains across various commodities, including lithium carbonate and glass, with lithium futures rising nearly 8% to over 80,000 yuan/ton, marking a 30% increase from a month ago [21][22] - Glass futures also surged, with prices exceeding 1300 yuan/ton, up from around 1000 yuan/ton a month prior [22] - Other commodities like coking coal and soda ash also experienced substantial price increases [23] Hong Kong Market - The Hong Kong market showed a downward trend, with the Hang Seng Index and Hang Seng Tech Index both declining over 1% [14] - Notable gainers included WuXi Biologics and Nongfu Spring, while stocks like Kuaishou and New Oriental faced declines [15]

Market Performance - The Hang Seng Index rose by 129 points or 0.5%, closing at 25,667 points, marking a five-day consecutive increase[1] - The Shanghai Composite Index increased by 23 points or 0.7%, closing at 3,605 points, reaching a nine-month high[2] - The S&P 500 index gained 4 points, closing at 6,363 points, while the Dow Jones Industrial Average fell by 316 points or 0.7%[2] Economic Indicators - The People's Bank of China conducted a 331 billion yuan reverse repurchase operation at a steady rate of 1.4%, resulting in a net withdrawal of 119.5 billion yuan for the day[2] - The RMB/USD midpoint rose by 29 pips to 7.1385, the highest since November of the previous year[2] Automotive Industry - In June 2025, sales of Chinese brand passenger cars reached 1.707 million units, a month-on-month increase of 5.3% and a year-on-year increase of 19.3%, capturing 67.3% of total passenger car sales[3] Corporate Earnings - Kintor Pharmaceutical (00148.HK) expects a net profit increase of over 70% for the six months ending June 2025, exceeding approximately 2.56 billion yuan[4] - Lingbao Gold (03330.HK) anticipates revenue between 7.492 billion to 7.92 billion yuan, representing a year-on-year increase of approximately 75% to 85%[4]

Market Overview - The Hong Kong stock market opened lower on July 25, with the Hang Seng Index down by 0.53%, the Hang Seng Tech Index down by 0.51%, and the National Enterprises Index down by 0.45% [1] - Technology stocks, including Alibaba, experienced a decline [1] Future Market Outlook - According to Zhongtai International Research, the current liquidity in the Hong Kong stock market remains ample, supported by continuous net inflows from the Stock Connect and high foreign investment enthusiasm, which may help the market maintain a high-level consolidation [2] - Ping An International noted that the recent improvement in liquidity is due to the Hong Kong Monetary Authority's liquidity injection, continuous net inflows from southbound funds and foreign capital, a booming IPO market, and accelerated share buybacks by Hong Kong companies [2] - Guotai Junan Securities expressed a bullish outlook for the Hong Kong stock market in the second half of the year, citing the support from the renminbi and southbound funds [2] - Industrial and Commercial Bank of China (ICBC) highlighted that the Hong Kong stock market is expected to experience a "structural bull market" due to national empowerment and the enhancement of its international financial center status [3] Company News - Lingbao Gold (03330) announced a profit increase, expecting a mid-term net profit of approximately 656-687 million yuan, representing a year-on-year increase of about 330%-350% [6] - Kwan Tai Group (00148) also reported a profit increase, expecting a mid-term net profit exceeding approximately 2.56 billion Hong Kong dollars, a year-on-year increase of over 70% [7] - China Petroleum & Chemical Corporation (00386) reported an oil and gas equivalent production of approximately 263 million barrels in the first half of the year, a year-on-year increase of 2% [8]

Group 1 - The demand for high-end PCBs, such as AI servers and switches, is surging, driven by the release of Nvidia's GB200 and ASIC chips, which further stimulates industry growth [1] - The global AI server PCB market is expected to reach 19 billion yuan by 2025, with a compound annual growth rate (CAGR) exceeding 30% from 2023 to 2028 [1] - Domestic leading manufacturers, such as Shenyin Technology and Huitian Technology, are capturing market share due to their technological advantages, with some companies achieving capacity utilization rates exceeding 95% [1] Group 2 - Companies like Shenyin Electronics and Guanghua Technology are projected to see significant profit increases, with Shenyin Electronics' net profit expected to rise by 432%-471% year-on-year [2] - The demand for high-end PCBs is rapidly increasing due to AI computing power, leading to a notable supply-demand gap in AI PCBs this year [2] - CITIC Securities forecasts that the supply-demand ratio for global AI PCBs will be between 80% and 103% by 2026, indicating a tight supply situation [2] Group 3 - Kinsus Interconnect Technology's performance is expected to benefit from the recovery in copper-clad laminate demand, with price increases supporting its performance [3] - Kinsus Group is focusing on the entire PCB industry chain, developing a research center for copper-clad laminates and successfully creating various high-frequency and high-speed products for AI server GPU motherboards [3]

Financial Performance - The company reported a revenue of HK$43,093.3 million for FY 2024, representing a 9% year-on-year increase from HK$39,712.5 million in FY 2023[10]. - Underlying net profit attributable to owners decreased by 29% to HK$1,622 million, down from HK$2,274.3 million in the previous year[10]. - The basic earnings per share based on underlying net profit fell to HK$1.464, a decline of 29% compared to HK$2.052 in FY 2023[10]. - The Group recorded a basic net profit attributable to shareholders of HK$16.22 million, a decrease of 29% year-on-year due to credit loss provisions related to real estate investments[20]. - The Group's financial results for the year ended December 31, 2024, are detailed in the consolidated statement of profit or loss[119]. Dividends - The company declared a total dividend per share of HK$1.40, which is a 37% increase from HK$1.02 in the previous year[10]. - The Group proposed a final dividend of HK$0.54 per share and a special final dividend of HK$0.46 per share, subject to shareholder approval[22][23]. - The Group declared an interim dividend of HK 40 cents per ordinary share, amounting to HK$443,325,000 during the year[120]. - The Directors recommend a final dividend of HK 54 cents and a special final dividend of HK 46 cents per ordinary share, totaling HK$1,108,311,000[120]. Revenue Segments - The Chemicals Division's revenue grew by 22% to HK$13,617.7 million, driven by new projects and increased sales volume of core chemical products[31][34]. - The Laminates Division's annual sales volume increased to 110 million sheets, a 10% increase compared to 2023, with revenue rising by 10% to HK$18,901.5 million[26][28]. - The PCBs Division achieved a 4% revenue growth to HK$12,107.0 million, with EBITDA increasing by 1% to HK$2,033.3 million[27][29]. - The Property Division's revenue from property sales decreased by 60% to HK$516.7 million, while rental income slightly decreased by 1% to HK$1,457.0 million[32][34]. Financial Position - The net gearing ratio improved slightly to 28% from 29% in the previous year, indicating a stable capital structure[10]. - The Group's net current assets as of December 31, 2024, were HK$19,989.8 million, down from HK$25,252.7 million in 2023, with a current ratio of 2.02[33]. - The Group maintained a healthy capital structure and financial position despite the challenges in the real estate sector[20]. - The net working capital cycle increased to 71 days as of December 31, 2024, from 65 days in the previous year[34]. - The Group's net gearing ratio was approximately 28% as of December 31, 2024, slightly down from 29% as of December 31, 2023, with a short-term to long-term bank borrowings ratio of 41%:59%[36]. Investments and Projects - During the period, the Group invested approximately HK$4 billion in production capacity and HK$600 million in property construction expenses, aiming for stable long-term returns for shareholders[36]. - The Group has invested approximately HK$900 million in distributed solar photovoltaics, achieving an annual generating capacity of 200 million kWh, resulting in energy savings equivalent to 54,000 tonnes of standard coal and a reduction of 120,000 tonnes in carbon dioxide emissions[57]. - The thermal energy recovery investments totaled HK$200 million, leading to a reduction of 59,000 tonnes of carbon dioxide emissions in 2024, equivalent to energy savings of 24,000 tonnes of standard coal and cost savings of HK$180 million[57]. - The Group's new 1,500-tonne monthly copper foil capacity will be fully operational in 2025, enhancing cost efficiencies[60]. - The Group plans to add 1.2 million square feet of monthly PCB capacity in Thailand and 1.1 million square feet in Vietnam, both expected to commence operations in 2026, to meet growing overseas demand[62]. Market Conditions - The electronics industry showed signs of recovery, driven by growth in automotive electronics and AI sectors, positively impacting revenue and profits in the Laminates and PCB segments[17]. - The electronics market is experiencing robust demand, with significant year-on-year growth in shipment volume for the first two months of 2025[60]. - The management anticipates ongoing geopolitical tensions and fluctuating industry performance due to protectionism and trade wars, emphasizing the need for strong cash flow and expense management[57]. - The Group's business operations are affected by recent global market fluctuations and a slowdown in the PRC economy, which may lead to reduced demand for its products[106]. Environmental and Sustainability Initiatives - The Group is committed to environmental sustainability and regularly reviews its environmental policies to comply with relevant laws and regulations[108][113]. - The Group's internal manufacturing facilities operate in compliance with environmental regulations, aiming for efficient resource use and waste reduction[108][113]. - The Group is committed to green and low-carbon practices in its Chemicals Division, focusing on production safety and compliance with emission standards[65]. Leadership and Management - Mr. Cheung Kwok Wing, aged 69, is the chairman and co-founder of the Group, responsible for overall strategic planning and direction[72]. - The Group's executive team includes members with significant industry experience, enhancing its operational capabilities in the PCB and chemical sectors[76]. - The Group's strategic direction is supported by a strong leadership team with diverse expertise across various sectors[76]. Risks and Challenges - The Group faces significant risks including product defects, which could lead to substantial liability claims affecting operations and reputation[96]. - Customer contracts are typically one-off purchase orders, leading to variability in order amounts and making future forecasts challenging[97]. - The Group operates in a highly competitive industry, with no assurance of successful competition against current or emerging companies[98]. - The Group has identified key risks including product defects, unpredictable customer contracts, and intense industry competition[102][103][104]. Shareholder Information - The interests of directors in the company's shares included Mr. Cheung Kwok Wing holding 10,267,405 shares, representing approximately 0.926% of the issued share capital[170]. - The company has no awareness of any tax relief available to shareholders due to their shareholding[160]. - The company maintains a register of substantial shareholders as required by Section 336 of the SFO[197].