FF301 本月底法定/註冊股本總額： HKD 1,000,000,000 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9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: SEEC Media Group Limited 財訊傳媒集團有限公司 （於開曼群島註冊成立並於百慕達存續的有限公司） 呈交日期: 2025年10月8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) | 00205 | 說明 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | HKD | | 0 | | 本月底結存 | | ...

不过，财讯传媒总裁戴小京，在11月16日表示，王波明将继续担任中国证券市场设计研究中心（又 称"联办"）总干事、《证券市场周刊》社长及《财经》杂志总编辑。 作者：郭亦非 许文苗 2009年11月15日晚，时任《财经》杂志主编胡舒立女士，在《财经网》自己的博客上撰文，《我走了， 再见》，公开宣布自己离开了这家著名的媒体机构。 整整7年后，2016年11月15日，胡舒立女士当时的"老板"，王波明辞去财讯传媒集团（00205.HK）董事 会主席及董事长的职务。 对于董事会主席的接任者是何人，戴小京表示，"暂无接任"，他同时还说，王波明的其他职务没有变 动，辞任执行董事及董事会主席，"毫不影响运营层面" 。 而据多个消息源介绍，王波明辞任，早已酝酿有时。这家港股上市公司的股权结构或已发生了重大变 化；董事会中，四席执行董事，原本与公司无关的"外来户"已经占到了三位。 "联办"参与了上海证券交易所、深圳证券交易所的筹备设立，也参与筹备了中国证监会的设立。 联办还相继创办了《证券市场周刊》、《财经》等杂志，以及和讯网等媒体，在资本市场继续拥有较大 的影响力。 2002年，财讯传媒在香港上市，但股价长期在港币几毛钱徘徊，整 ...

SEEC MEDIA GROUP LIMITED 財訊傳媒集團有限公司 (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) （於開曼群島註冊成立並於百慕達存續的有限公司） （Stock Code 股份代號：205） NOTIFICATION LETTER 通知信函 Dear Non-registered Holder(s) (Note 1) , SEEC Media Group Limited (the "Company") Notification of publication of 2025 Interim Report (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communication are available on the Company's website at http://www.irasia.com/l ...

（於開曼群島註冊成立並於百慕達存續的有限公司） 2025 中期報告 財訊傳媒集團有限公司（「本公司」）董事會（「董事會」）欣然提呈本公司及其附屬公司（「本 集團」）截至二零二五年六月三十日止六個月中期業績如下： 簡明綜合損益及其他全面收益表 截至二零二五年六月三十日止六個月 二零二五年 二零二四年 附註 千港元 千港元 （未經審核） （未經審核） 收入 3 15,744 15,331 銷售成本 (8,100) (4,897) 毛利 7,644 10,434 其他收入 704 373 持作買賣之投資之公平值變動 8,861 (34,962) 其他收益及虧損，淨額 4 (1,355) 22,097 銷售及分銷成本 (539) (541) 行政開支 (15,015) (14,493) 融資成本 (436) (1,264) 應佔一間合營企業虧損 – (2,085) 應佔一間聯營公司虧損 (240) (5,260) 除稅前虧損 5 (376) (25,701) 所得稅 6 – – 期內虧損 (376) (25,701) 截至六月三十日止六個月 1 財訊傳媒集團有限公司 / 中期報告 2025 截至六月三十日止六個月 | ...

SEEC MEDIA GROUP LIMITED 財訊傳媒集團有限公司 (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) （於開曼群島註冊成立並於百慕達存續的有限公司） （Stock Code 股份代號：205） NOTIFICATION LETTER 通知信函 Note: 各位登記股東： 財訊傳媒集團有限公司（「本公司」） 2025中期報告之發佈通知（「本次公司通訊」） 本公司的本次公司通訊之中、英文版本已分別上載於本公司網站 http://www.irasia.com/listco/hk/seecmedia/index.htm 及香港聯合交易所有限公司（「聯交所」）之網站 (www.hkexnews.hk) （「網站版本」）。我們建議 閣下閱覽本公司本次及日後公司通訊 （附註） 的網站版本。如 閣下已選擇收取公司通訊的印刷本，隨函附上本次公司 通訊。 Dear Registered Shareholders, SEEC Media Group Limited (the "Company" ...

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: SEEC Media Group Limited 財訊傳媒集團有限公司 （於開曼群島註冊成立並於百慕達存續的有限公司） 呈交日期: 2025年9月4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) | 00205 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 100,000,000,00 ...

Core Viewpoint - Financial Media (00205.HK) reported a mid-year performance with a revenue of HKD 15.744 million for the first half of 2025, reflecting a year-on-year growth of 2.69% [1] - The company recorded a loss attributable to shareholders of HKD 0.829 million, which represents a significant reduction in loss by 96.71% compared to the previous year [1] - The basic loss per share was HKD 0.001 [1] Financial Performance - Revenue for the first half of 2025 was HKD 15.744 million, up 2.69% year-on-year [1] - Loss attributable to shareholders narrowed to HKD 0.829 million, a decrease of 96.71% year-on-year [1] - Basic loss per share stood at HKD 0.001 [1]

Core Insights - The company reported a revenue of HKD 15.744 million for the six months ending June 30, 2025, representing a year-on-year increase of 2.7% [1] - The loss attributable to the company's owners was HKD 0.829 million, a significant reduction of 96.7% compared to the previous year [1] - The loss per share was HKD 0.001 [1] Revenue Breakdown - Revenue from advertising and marketing-related services amounted to approximately HKD 10.4 million, accounting for about 65.8% of the company's total revenue [1] - The company has been actively expanding its digital media marketing services and multi-channel network (MCN) business since 2020 to diversify its advertising revenue [1]

Company Information [SEEC Media Group Limited Unaudited Condensed Consolidated Interim Results](index=1&type=section&id=SEEC%20Media%20Group%20Limited%20Unaudited%20Condensed%20Consolidated%20Interim%20Results) This report presents the unaudited condensed consolidated interim results of SEEC Media Group Limited (Stock Code: 205) for the six months ended June 30, 2025 - The report covers the unaudited condensed consolidated interim results of SEEC Media Group Limited for the six months ended June 30, 2025[2](index=2&type=chunk)[3](index=3&type=chunk) Financial Statements [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's revenue slightly increased, but gross profit declined, while a significant gain from fair value changes of investments held for trading, compared to a loss last year, substantially narrowed the loss for the period Key Data from Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | Six Months Ended June 30, 2025 (HK$'000) | Six Months Ended June 30, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 15,744 | 15,331 | +2.7% | | Cost of Sales | (8,100) | (4,897) | +65.4% | | Gross Profit | 7,644 | 10,434 | -26.8% | | Fair Value Changes of Investments Held for Trading | 8,861 | (34,962) | From Loss to Gain | | Loss Before Tax | (376) | (25,701) | -98.5% | | Loss for the Period | (376) | (25,701) | -98.5% | | Loss for the Period Attributable to Owners of the Company | (829) | (25,167) | -96.7% | | Basic Loss Per Share (HKD) | (0.001) | (0.031) | -96.8% | [Condensed Consolidated Statement of Financial Position](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets slightly increased, net current assets marginally decreased, and expanded non-controlling interests led to a slight reduction in total equity Key Data from Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 11,354 | 12,080 | -6.0% | | Current Assets | 319,967 | 311,048 | +2.9% | | Current Liabilities | 152,548 | 142,071 | +7.4% | | Net Current Assets | 167,419 | 168,977 | -0.9% | | Net Assets | 153,976 | 155,421 | -0.9% | | Equity Attributable to Owners of the Company | 173,657 | 175,194 | -0.9% | | Non-controlling Interests | (19,681) | (19,773) | -0.5% | Notes to the Financial Statements [Basis of Preparation and Principal Accounting Policies](index=4&type=section&id=Basis%20of%20Preparation%20and%20Principal%20Accounting%20Policies) The condensed consolidated financial statements are prepared in accordance with HKAS 34 and Appendix D2 of the Listing Rules, using the historical cost convention, with financial instruments measured at revalued amounts or fair value, and the first-time application of HKFRS amendments had no material impact on financial position or performance - The financial statements adhere to **HKAS 34** and Appendix D2 of the Listing Rules, applying the historical cost convention, with financial instruments measured at revalued amounts or fair value[6](index=6&type=chunk)[7](index=7&type=chunk) - The first-time application of **HKAS 21 (Amendments) 'Lack of Exchangeability'** in the current period had no material impact on the Group's financial position or performance[7](index=7&type=chunk) [Revenue and Segment Information](index=4&type=section&id=Revenue%20and%20Segment%20Information) The Group operates three reportable segments: advertising services, securities brokerage services, and money lending, with advertising services revenue significantly increasing, money lending revenue decreasing, and securities brokerage services revenue being zero - The Group operates three business segments: providing advertising services, providing securities brokerage services, and money lending[9](index=9&type=chunk) Revenue by Reportable Segment | Segment | Revenue for Six Months Ended June 30, 2025 (HK$'000) | Revenue for Six Months Ended June 30, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Advertising Services | 10,357 | 8,259 | +25.4% | | Securities Brokerage Services | – | 156 | -100% | | Money Lending | 5,387 | 6,916 | -22.1% | | **Total Revenue** | **15,744** | **15,331** | **+2.7%** | Segment Results by Reportable Segment | Segment | Segment (Loss)/Profit for Six Months Ended June 30, 2025 (HK$'000) | Segment (Loss)/Profit for Six Months Ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Advertising Services | (3,910) | (2,088) | | Securities Brokerage Services | (75) | 86 | | Money Lending | 307 | (1,950) | | **Consolidated** | **(3,678)** | **(3,952)** | [Other Gains and Losses, Net](index=6&type=section&id=Other%20Gains%20and%20Losses%2C%20Net) During the reporting period, the Group recorded a net exchange loss, contrasting with a significant gain from the deregistration of a subsidiary in the prior year Other Gains and Losses, Net | Item | Six Months Ended June 30, 2025 (HK$'000) | Six Months Ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Net Exchange (Loss)/Gain | (1,355) | 2,121 | | Gain on Deregistration of a Subsidiary | – | 19,985 | | **Total** | **(1,355)** | **22,097** | [Loss Before Tax](index=6&type=section&id=Loss%20Before%20Tax) The Group's loss before tax is calculated considering factors such as depreciation, bank interest income, and finance costs Components of Loss Before Tax | Item | Six Months Ended June 30, 2025 (HK$'000) | Six Months Ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Depreciation of Property, Plant and Equipment | 1 | 1 | | Bank Interest Income | (8) | (27) | | Finance Costs | 436 | 1,264 | [Income Tax](index=6&type=section&id=Income%20Tax) Hong Kong profits tax uses a two-tiered tax rate, while Chinese subsidiaries are taxed at 25%, with no income tax expense incurred by the Group during the reporting period - Hong Kong profits tax applies a two-tiered tax rate of **8.25% and 16.5%**, while Chinese subsidiaries are subject to a **25%** tax rate[14](index=14&type=chunk) - No income tax expense was incurred for the six months ended June 30, 2025, and 2024[15](index=15&type=chunk) [Dividends](index=6&type=section&id=Dividends) The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025, consistent with the prior year - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025[15](index=15&type=chunk) [Loss Per Share](index=7&type=section&id=Loss%20Per%20Share) Basic and diluted loss per share significantly narrowed, primarily due to a substantial reduction in the loss for the period Loss Per Share Calculation Data | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Loss for the Period Attributable to Owners of the Company (HK$'000) | (829) | (25,167) | | Weighted Average Number of Ordinary Shares ('000 shares) | 821,082 | 821,082 | | Basic and Diluted Loss Per Share (HKD) | (0.001) | (0.031) | - Share options only have a dilutive effect when the average market price during the period exceeds the adjusted exercise price[17](index=17&type=chunk) [Receivables](index=8&type=section&id=Receivables) The Group's receivables primarily stem from advertising and securities trading businesses, with advertising receivables decreasing and securities trading receivables remaining stable, as the Group maintains strict credit risk monitoring Receivables Details | Item | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Receivables from Advertising Services (Net of Allowance) | 3,592 | 8,868 | -59.5% | | Receivables from Securities Trading Business (Net of Allowance) | 35,433 | 35,433 | 0% | | **Total Receivables** | **39,025** | **44,301** | **-11.9%** | - The Group maintains strict monitoring over outstanding receivables from securities brokerage to minimize credit risk and ensure clients' listed equity securities are sufficient to offset outstanding debts[19](index=19&type=chunk) - Receivables from cash clients are repayable on demand and bear interest at the Hong Kong prime rate plus **3%** per annum[20](index=20&type=chunk) [Investments Held for Trading](index=9&type=section&id=Investments%20Held%20for%20Trading) The Group's investments held for trading primarily consist of Hong Kong-listed equity securities, which saw an increase in fair value and are classified as Level 1 fair value hierarchy Total Investments Held for Trading | Metric | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Investments Held for Trading | 83,918 | 74,049 | +13.3% | - Investments held for trading are listed equity securities in Hong Kong, with fair value determined by market bid prices and classified as Level 1 fair value hierarchy[23](index=23&type=chunk) [Payables](index=9&type=section&id=Payables) The Group's payables primarily arise from advertising and securities trading, with advertising payables increasing, and the Group maintains an average credit period of 90 days with financial risk management policies to ensure timely settlement Payables Details | Item | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Payables from Advertising Services | 10,609 | 8,809 | +20.4% | | Payables from Securities Trading Business (Cash Clients) | 9,828 | 9,828 | 0% | | **Total Payables** | **20,437** | **18,637** | **+9.7%** | - The average credit period for payables is **90 days**, and the Group has established financial risk management policies to ensure all payables are settled within credit terms[25](index=25&type=chunk) Business Review [Advertising and Sale of Books and Magazines](index=11&type=section&id=Advertising%20and%20Sale%20of%20Books%20and%20Magazines) Advertising business, a key revenue source, improved as COVID-19 impacts in China subsided despite challenges from the US-China trade war and internet economy, with the Group actively expanding digital media marketing and MCN businesses - Advertising business performance improved, generating approximately **HK$10.4 million** in revenue, accounting for about **65.8%** of total revenue[27](index=27&type=chunk) - The Group actively expands digital media marketing services and Multi-Channel Network (MCN) businesses to diversify revenue[27](index=27&type=chunk) [Securities Brokerage](index=11&type=section&id=Securities%20Brokerage) Due to continuous losses, the Board decided to cease securities brokerage operations and is surrendering its license to the SFC; the business, suspended since September 19, 2023, has no material impact on the Company's financials or operations - The Board has decided to cease operating the continuously loss-making securities brokerage business and is in the process of surrendering its license to the SFC[28](index=28&type=chunk) - The securities brokerage business has been suspended since **September 19, 2023**, with no material impact on the Company's financial position or operations[28](index=28&type=chunk)[29](index=29&type=chunk) - For the six months ended June 30, 2025, the securities brokerage business generated no commission, brokerage, or interest income[28](index=28&type=chunk) [Money Lending](index=12&type=section&id=Money%20Lending) Money lending, part of the Group's diversified financial services to expand revenue, generated approximately HK$5.4 million in interest income, accounting for 34.2% of total revenue, with credit risk managed through independent credit assessments, collateral checks, and monthly loan portfolio reviews - The money lending business generated approximately **HK$5.4 million** in interest income, representing about **34.2%** of the Group's total revenue[30](index=30&type=chunk) - The Group manages credit risk in its money lending business through independent credit assessments, collateral value checks, and regular credit reviews[31](index=31&type=chunk)[32](index=32&type=chunk) - As of June 30, 2025, the loan portfolio included approximately **HK$94.1 million** in secured loans and **HK$61.0 million** in unsecured loans, with annual interest rates ranging from **6.4% to 8.0%**[33](index=33&type=chunk) - The largest borrower and the top five borrowers accounted for approximately **12%** and **49%** of total loans receivable, respectively, with all top five borrowers being individuals whose loans are collateralized[33](index=33&type=chunk) Outlook and Prospects [Outlook and Prospects](index=13&type=section&id=Outlook%20and%20Prospects) Despite global economic challenges, China's economy is expected to rebound, and the Group will continue to strengthen its financial businesses, actively develop digital media marketing and MCN advertising, and explore other investment opportunities to maximize shareholder value - The global economy faces challenges, but China's economy is expected to rebound, supported by government stimulus measures and domestic consumption growth[35](index=35&type=chunk) - The Group will continue to strengthen its financial businesses and actively develop digital media marketing and MCN advertising businesses[35](index=35&type=chunk) - The Group will maintain a cautiously optimistic outlook, exploring investment opportunities that yield good sustainable returns and maximize shareholder value[37](index=37&type=chunk) Management Discussion and Analysis [Financial Review](index=14&type=section&id=Financial%20Review) Advertising services revenue grew by 25.4%, securities brokerage revenue was zero, and money lending revenue decreased, leading to an overall gross profit margin decline to 48.6%; the shift from a loss to a gain in investments held for trading was the primary reason for the 96.7% reduction in loss for the period Revenue Changes by Business Segment | Business Segment | Revenue for Six Months Ended June 30, 2025 (HK$'000) | Revenue for Six Months Ended June 30, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Advertising Services | 10,400 | 8,300 | +25.4% | | Securities Brokerage Business | 0 | 200 | -100% | | Money Lending Business | 5,400 | 6,900 | -21.7% | - The Group's overall gross profit margin decreased from **68.1% to 48.6%**, primarily due to a reduced revenue contribution from high-margin business segments[38](index=38&type=chunk) - A fair value gain of approximately **HK$8.9 million** from investments held for trading, compared to a loss of approximately **HK$35.0 million** in the prior year, was the primary reason for the **96.7%** reduction in loss for the period[38](index=38&type=chunk)[40](index=40&type=chunk) [Use of Proceeds](index=15&type=section&id=Use%20of%20Proceeds) The Group disclosed the use of proceeds from its 2015 public offering and 2022 subscription, with most funds utilized as planned, and remaining unutilized funds allocated for developing Type 4, 6, 9 regulated activities companies and expanding advertising business - Net proceeds of approximately **HK$518.27 million** from the 2015 public offering were primarily used for establishing and operating Type 1 companies, acquiring e-commerce platform companies, and developing money lending businesses, with most funds utilized[41](index=41&type=chunk)[42](index=42&type=chunk) Use of Proceeds from Public Offering | Intended Use | Net Proceeds (HK$'000) | Actual Use for Six Months Ended June 30, 2025 (HK$'000) | Unutilized Balance (HK$'000) | Expected Timeline for Full Utilization | | :--- | :--- | :--- | :--- | :--- | | Establishment and Operation of Type 1 Companies | 275,000 | 275,000 | – | – | | Establishment and Operation of Type 4, 6, 9 Regulated Activities Companies | 10,000 | – | 10,000 | December 31, 2025 | | Acquisition of E-commerce Platform Development and Operation Companies | 124,000 | 124,000 | – | – | | Operation and Development of Money Lending Business | 110,000 | 110,000 | – | – | - Net proceeds of approximately **HK$47.8 million** from the 2022 subscription were intended for expanding advertising business, particularly digital media marketing and MCN services, with **HK$46.6 million** utilized as of the reporting date, and the remaining **HK$1.2 million** expected to be fully utilized by **December 31, 2025**[43](index=43&type=chunk)[44](index=44&type=chunk) [Material Acquisitions and Disposals of Subsidiaries](index=16&type=section&id=Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries) For the six months ended June 30, 2025, the Group had no material acquisitions or disposals of subsidiaries - During the reporting period, the Group had no material acquisitions or disposals of subsidiaries[45](index=45&type=chunk) [Material Investments](index=16&type=section&id=Material%20Investments) The Group's total investments held for trading amounted to approximately HK$83.9 million, primarily Hong Kong-listed equity securities, with an investment in China Investment and Finance Group Limited accounting for 5.9% of total assets and recording an unrealized gain; the Group will maintain a diversified investment portfolio to balance risk Total Investments Held for Trading | Metric | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Total Investments Held for Trading | 83,900 | 74,000 | +13.4% | Details of Material Investments | Company Name | Number of Shares Held | Percentage of Total Issued Share Capital | Market Value (HK$'000) | Percentage of Total Group Assets | Fair Value Gain on Investment (HK$'000) | | :--- | :--- | :--- | :--- | :--- | :--- | | China Investment and Finance Group Limited | 13,000,000 | 3.2% | 19,500 | 5.9% | 2,210 | | Other Securities | N/A | N/A | 64,418 | 19.4% | 6,651 | | **Total** | | | **83,918** | **25.3%** | **8,861** | - The Group will continue to maintain a diversified investment portfolio across various business segments, closely monitoring portfolio performance to adjust investment strategies for balancing and mitigating investment risks[49](index=49&type=chunk) [Liquidity and Financial Resources](index=18&type=section&id=Liquidity%20and%20Financial%20Resources) The Group's daily operations are primarily funded by internal resources, with a slight decrease in total equity and a capital gearing ratio increase to 53.5%; the Group holds approximately HK$25.9 million in bank and cash balances with no assets pledged Liquidity and Financial Resources Overview | Metric | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (%) | | :--- | :--- | :--- | :--- | | Total Equity | 154,000 | 155,400 | -0.9% | | Non-current Liabilities | 24,800 | 25,600 | -3.1% | | Capital Gearing Ratio | 53.5% | 51.9% | +1.6% | | Bank and Cash Balances (Excluding Trust and Segregated Accounts) | 25,900 | 29,400 | -11.9% | - The Group's daily operations are primarily funded by internal resources, with no assets or bank deposits pledged to banks[50](index=50&type=chunk)[52](index=52&type=chunk) [Events After Reporting Period](index=18&type=section&id=Events%20After%20Reporting%20Period) Subsequent to the reporting period, the Group completed a rights issue, raising net proceeds of approximately HK$39.5 million, and its wholly-owned subsidiary, Honor Fame Group Limited, agreed to acquire sale shares of BFB Development Inc. for HK$38.22 million - Subsequent to the reporting period, the Group completed a rights issue in **July 2025**, raising net proceeds of approximately **HK$39.5 million**[53](index=53&type=chunk) - The Group's wholly-owned subsidiary, Honor Fame Group Limited, agreed on **August 22, 2025**, to acquire sale shares of BFB Development Inc. for **HK$38.22 million**[54](index=54&type=chunk)[55](index=55&type=chunk) [Foreign Currency and Treasury Policy](index=19&type=section&id=Foreign%20Currency%20and%20Treasury%20Policy) Most of the Group's business transactions, assets, and liabilities are denominated in HKD, USD, or RMB; the treasury policy is to manage foreign exchange risk when financially significant, with no hedging or speculative activities during the period - Most of the Group's business transactions, assets, and liabilities are denominated in **HKD, USD, or RMB**[56](index=56&type=chunk) - The Group's treasury policy is to manage foreign exchange risk when it significantly impacts financials, with no hedging or speculative activities undertaken during the period[56](index=56&type=chunk) [Employees](index=19&type=section&id=Employees) As of June 30, 2025, the Group had 48 employees, with remuneration and benefits determined based on market conditions and individual performance Number of Employees | Metric | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Number of Employees | 48 | 55 | -7 | - Salaries, bonuses, and benefits are determined based on market conditions and individual employee performance[57](index=57&type=chunk) Corporate Governance and Other Information [Directors' Interests in Shares](index=19&type=section&id=Directors%27%20Interests%20in%20Shares) As of June 30, 2025, certain directors held long positions in the Company's shares and share options, with Mr. Li Wei holding 5.17% of shares and related share options Directors' Interests in Shares | Director's Name | Nature of Interest | Number of Shares Held | Number of Underlying Shares Held via Share Options | Percentage of Total Issued Shares | | :--- | :--- | :--- | :--- | :--- | | Li Wei | Beneficial Owner | 30,778,750 | 7,300,000 | 5.17% | | Luo Zhihong | Beneficial Owner | – | 3,180,000 | 0.43% | - As of June 30, 2025, no director held any long or short positions in the Company's shares, underlying shares, or debentures, other than those disclosed[60](index=60&type=chunk) [Interests and Short Positions of Substantial Shareholders and Other Persons in Shares and Underlying Shares of the Company](index=20&type=section&id=Interests%20and%20Short%20Positions%20of%20Substantial%20Shareholders%20and%20Other%20Persons%20in%20Shares%20and%20Underlying%20Shares%20of%20the%20Company) As of June 30, 2025, the register of substantial shareholders indicated Yongrong (Hong Kong) Asset Management held a long position in the Company's shares - **Yongrong (Hong Kong) Asset Management** is a substantial shareholder, holding a long position in the Company's shares[63](index=63&type=chunk) [Purchase, Redemption or Sale of the Company's Listed Securities](index=20&type=section&id=Purchase%2C%20Redemption%20or%20Sale%20of%20the%20Company%27s%20Listed%20Securities) During the reporting period, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities - During the reporting period, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities[64](index=64&type=chunk) [Corporate Governance](index=20&type=section&id=Corporate%20Governance) The Company complied with the Corporate Governance Code in Appendix C1 of the Listing Rules during the reporting period, adopting a more flexible approach to Board meeting notice periods for more efficient decision-making - The Company complied with the Corporate Governance Code in Appendix C1 of the Listing Rules, but adopted a more flexible approach regarding Board meeting notice periods (Code Provisions C.5.3 and C.5.8) to ensure more efficient and prompt management decisions[65](index=65&type=chunk) [Remuneration Committee](index=21&type=section&id=Remuneration%20Committee) The Remuneration Committee comprises three independent non-executive directors, with Mr. Luo Zhihong serving as Chairman - The Remuneration Committee consists of **three independent non-executive directors**, with **Mr. Luo Zhihong** as Chairman[67](index=67&type=chunk) [Nomination Committee](index=21&type=section&id=Nomination%20Committee) The Nomination Committee comprises three independent non-executive directors, with Ms. Fang Ying serving as Chairperson - The Nomination Committee consists of **three independent non-executive directors**, with **Ms. Fang Ying** as Chairperson[68](index=68&type=chunk) [Audit Committee](index=21&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors with Mr. Luo Zhihong as Chairman, has reviewed the Group's accounting principles, practices, and financial reporting matters - The Audit Committee consists of **three independent non-executive directors**, with **Mr. Luo Zhihong** as Chairman, and has reviewed the Group's accounting principles, practices, and financial reporting matters[69](index=69&type=chunk) [Standard Code for Securities Transactions by Directors](index=21&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company has adopted a code for directors' securities transactions no less exacting than the Model Code in Appendix C3 of the Listing Rules, and all directors confirmed compliance - The Company has adopted a code for directors' securities transactions no less exacting than the Model Code in Appendix C3 of the Listing Rules, and all directors confirmed compliance[70](index=70&type=chunk) [Board of Directors](index=21&type=section&id=Board%20of%20Directors) As of the announcement date, the Board comprises four executive directors and three independent non-executive directors, with Mr. Li Liang serving as Chairman - The Board of Directors consists of **four executive directors** (Zhou Hongtao, Li Liang, Li Wei, Li Zhen) and **three independent non-executive directors** (Luo Zhihong, Fang Ying, Guo Hui), with **Mr. Li Liang** serving as Chairman[71](index=71&type=chunk)

Group 1 - The company *ST Weir (002058.SZ) reported a revenue of 50.93 million yuan for the first half of 2025, representing a year-on-year decline of 26.71% [1] - The net profit attributable to shareholders of the listed company was 177 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -4.53 million yuan [1] - The basic earnings per share were 1.23 yuan [1]