WINSHINE SCIENCE COMPANY LIMITED 瀛晟科學有限公司* （於百慕達註冊成立的有限公司） （股份代號：209） 各位非登記股東1： 瀛晟科學有限公司(「本公司」) - 於本公司網站登載公司通訊之通知及更改公司通訊發佈模式 A. 於本公司網站登載公司通訊之通知 此通知 閣下，本公司之下述公司通訊2 (「本次公司通訊」)之英文及中文版本現已登載於本公司網站 www.winshine.com（「本公司網站」）及香港聯合交易所有限公司（「聯交所」）網站www.hkexnews.hk（「聯交所網 站」）以供閱覽： • 二零二五年中期報告 請於本公司網站「投資者關係」一欄或聯交所網站內讀取本次公司通訊。若閣下早前曾要求收取公司通訊的印刷本，本次公司通訊的 印刷本已隨函附上。 B. 更改公司通訊發佈模式 本公司採納透過電子方式向其非登記股東發佈日後公司通訊的新安排。請注意，所有日後公司通訊的英文及中文版本將在 本公司網站www.winshine.com和聯交所網站www.hkexnews.hk上提供（「網站版本」）。除非 閣下提出要求，公司不會向 閣下郵寄公司通訊的印刷本。 承董事會命 瀛晟科學 ...

WINSHINE SCIENCE COMPANY LIMITED 瀛晟科學有限公司* （於百慕達註冊成立的有限公司） （股份代號：209） 各位註冊股東： 於本公司網站登載公司通訊之通知 謹此通知 閣下，瀛晟科學有限公司（「本公司」）之下述公司通訊1（「本次公司通訊」）之英文及中文版本，現已登載於 本公司網站www.winshine.com（「本公司網站」）及香港聯合交易所有限公司（「聯交所」）網站www.hkexnews.hk（「聯 交所網站」）以供閱覽： • 二零二五年中期報告 請於本公司網站「投資者關係」一欄或聯交所網站內讀取本次公司通訊。若閣下早前曾要求收取公司通訊的印刷本，本次公 司通訊的印刷本已隨函附上。 為了支援通過電郵進行電子通訊，本公司建議 閣下向本公司香港股份過戶登記分處卓佳證券登記有限公司（「香港股份過 戶登記分處」）（地址為香港夏慤道16號遠東金融中心17樓）發出（不少於七天的）合理書面通知，或發送電郵至 is-ecom@vistra.com向本公司提供 閣下的電郵地址。 股東有責任提供有效的電郵地址。若本公司沒有股東的電郵地址或 閣下提供的電郵地址無效，本公司將透過郵寄方式向 閣下發 ...

[Abbreviations](index=3&type=section&id=Abbreviations) This section lists the key abbreviations used throughout the report - Key abbreviations used in the report include 'Board', 'Company', 'Directors', 'Group', 'Listing Rules', 'China', 'SFO', 'Shares', 'Shareholders', 'Stock Exchange', 'HK$', 'RMB', 'US$', and '%'[5](index=5&type=chunk) [Corporate Information](index=4&type=section&id=Corporate%20Information) This section provides an overview of the company's fundamental corporate details and governance structure [Board of Directors](index=4&type=section&id=BOARD%20OF%20DIRECTORS) The Board of Directors experienced multiple changes during the reporting period, including appointments and resignations of executive, non-executive, and independent non-executive directors, with Ms. Wang Jingyu appointed as Chairperson on September 3, 2025, and Mr. Jiang Qinghui resigning as Chairperson on the same day - Ms. Wang Jingyu was appointed Executive Director and Chairperson on **September 3, 2025**[7](index=7&type=chunk)[9](index=9&type=chunk) - Mr. Weng Zutian serves as the Chief Executive Officer[7](index=7&type=chunk)[9](index=9&type=chunk) - Mr. Jiang Qinghui and Mr. Li Zhonghai resigned as Executive Directors on **September 3, 2025**[7](index=7&type=chunk)[9](index=9&type=chunk) - Ms. Hu Xinqi and Ms. Huang Tianying were appointed Independent Non-executive Directors on **August 22, 2025**[7](index=7&type=chunk)[9](index=9&type=chunk) [Audit Committee](index=4&type=section&id=AUDIT%20COMMITTEE) The Audit Committee's membership changed during the reporting period, with Ms. Hu Xinqi appointed as Chairperson on August 22, 2025, while Mr. Guo Jianxiong and Mr. Chen Zhuohao ceased to be chairpersons on August 8, 2025, and February 28, 2025, respectively - Ms. Hu Xinqi was appointed Chairperson of the Audit Committee on **August 22, 2025**[8](index=8&type=chunk)[9](index=9&type=chunk) - Mr. Guo Jianxiong ceased to be Chairperson of the Audit Committee on **August 8, 2025**[8](index=8&type=chunk)[9](index=9&type=chunk) [Remuneration Committee](index=4&type=section&id=REMUNERATION%20COMMITTEE) The Remuneration Committee's membership changed during the reporting period, with Ms. Huang Tianying appointed as Chairperson on August 22, 2025, while Mr. Weng Zutian and Mr. Chen Zhuohao ceased to be chairpersons on August 22, 2025, and February 28, 2025, respectively - Ms. Huang Tianying was appointed Chairperson of the Remuneration Committee on **August 22, 2025**[8](index=8&type=chunk)[9](index=9&type=chunk) - Mr. Weng Zutian ceased to be Chairperson of the Remuneration Committee on **August 22, 2025**[8](index=8&type=chunk)[9](index=9&type=chunk) [Nomination Committee](index=5&type=section&id=NOMINATION%20COMMITTEE) The Nomination Committee's membership changed during the reporting period, with Ms. Huang Tianying re-designated as Chairperson on September 3, 2025, and Mr. Jiang Qinghui ceasing to be Chairperson on the same day - Ms. Huang Tianying was re-designated as Chairperson of the Nomination Committee on **September 3, 2025**[10](index=10&type=chunk)[11](index=11&type=chunk) - Mr. Jiang Qinghui ceased to be Chairperson of the Nomination Committee on **September 3, 2025**[10](index=10&type=chunk)[11](index=11&type=chunk) [Company Secretary](index=5&type=section&id=COMPANY%20SECRETARY) Ms. Yu Yayun was appointed Company Secretary on July 7, 2025, while Mr. Lin Guanhui resigned on the same day - Ms. Yu Yayun was appointed Company Secretary on **July 7, 2025**[10](index=10&type=chunk)[12](index=12&type=chunk) - Mr. Lin Guanhui resigned as Company Secretary on **July 7, 2025**[10](index=10&type=chunk)[12](index=12&type=chunk) [Other Corporate Information](index=5&type=section&id=Other%20Corporate%20Information) The Company's shares are listed on the Hong Kong Stock Exchange with stock code 209, its registered office is in Bermuda, and its principal place of business in Hong Kong is at Shun Tak Centre; key banks include HSBC, Bank of Communications Hong Kong Branch, and China Guangfa Bank Zhongshan Branch, with Tianjian International Certified Public Accountants Limited as auditor - Shares are listed on the Hong Kong Stock Exchange, stock code **209**[11](index=11&type=chunk)[12](index=12&type=chunk) - The registered office is located at Clarendon House, Bermuda[11](index=11&type=chunk)[12](index=12&type=chunk) - The principal place of business in Hong Kong is Unit 907B, 9th Floor, China Merchants Tower, Shun Tak Centre, 168–200 Connaught Road Central, Hong Kong[11](index=11&type=chunk)[12](index=12&type=chunk) - The auditor is Tianjian International Certified Public Accountants Limited[14](index=14&type=chunk)[15](index=15&type=chunk) [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business operations, financial performance, and future outlook [Business Review](index=7&type=section&id=BUSINESS%20REVIEW) The Group primarily engages in toy manufacturing and trading, as well as agricultural product cultivation and sales; for the interim period ended June 30, 2025, the toy business continued to face challenges due to US tariffs and rising labor costs in China, leading to decreased order volume and increased gross loss, while the agricultural products business generated no revenue - The Group's principal businesses are **toy manufacturing and trading**, and **agricultural product cultivation and sales**[16](index=16&type=chunk)[21](index=21&type=chunk) - The toy business is affected by **US tariffs on China** and **rising minimum wage and social insurance costs in China**, leading to a continuous decline in order volume and pressure on profit margins[16](index=16&type=chunk)[17](index=17&type=chunk)[21](index=21&type=chunk) - For the interim period ended June 30, 2025, the agricultural product cultivation and sales business generated **no revenue** (2024: HK$1.3 million)[18](index=18&type=chunk)[21](index=21&type=chunk) Key Financial Performance (Six Months Ended June 30) | Metric | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (HK$ Thousand) | Change Rate | Reference Chunk | | :--- | :--- | :--- | :--- | :--- | :--- | | Toy Segment Revenue | 148,400 | 189,800 | (41,400) | -21.8% | [20, 23] | | Agricultural Products Segment Revenue | 0 | 1,300 | (1,300) | -100% | [18, 21, 26, 32] | | Gross Loss/Profit | (10,000) | 4,100 | (14,100) | -343.9% | [18, 22] | | Loss for the Period | (38,300) | (26,700) | (11,600) | +43.4% | [19, 22] | [Financial Review](index=8&type=section&id=FINANCIAL%20REVIEW) The Group's financial position shows an increase in net current liabilities, a decrease in cash and cash equivalents, an expanded capital deficiency, and a higher gearing ratio; to improve its financial health, the Group has taken measures including extending bank financing maturity dates, implementing cost-saving initiatives, and exploring other financing arrangements, while foreign currency risk is considered not significant and certain assets are pledged for bank financing, with no material contingent liabilities currently [Liquidity, Financial Resources and Capital Structure](index=8&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) As of June 30, 2025, the Group's net current liabilities, total borrowings, and capital deficiency attributable to owners of the Company all increased, with a deterioration in the current ratio and gearing ratio; to address funding pressure, the Company completed a share subscription in January 2025, raising approximately HK$1.2 million in net proceeds for working capital Liquidity and Capital Structure Metrics | Metric | June 30, 2025 (HK$ Million) | December 31, 2024 (HK$ Million) | Change (HK$ Million) | Change Rate | Reference Chunk | | :--- | :--- | :--- | :--- | :--- | :--- | | Net Current Liabilities | 253.3 | 220.3 | 33.0 | +15.0% | [27, 33] | | Cash and Cash Equivalents | 34.1 | 55.3 | (21.2) | -38.3% | [27, 33] | | Current Ratio | 0.47 times | 0.54 times | (0.07) | -13.0% | [27, 33] | | Total Loans | 229.8 | 217.1 | 12.7 | +5.8% | [28, 33] | | Capital Deficiency Attributable to Owners of the Company | 173.8 | 139.0 | 34.8 | +25.0% | [29, 33] | | Gearing Ratio | 170% | 136.7% | 33.3% | +24.4% | [29, 33] |

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，並明確表示不會就本公告全部或任何部份內容而產 生或因依賴該等內容而引致之任何損失承擔任何責任。 WINSHINE SCIENCE COMPANY LIMITED 209 二零二四年年報進一步補充公告 茲提述(i)瀛晟科學有限公司（「本公司」，連同其附屬公司統稱「本集團」）於二零二五年四 月三十日刊發的截至二零二四年十二月三十一日止年度之年度報告（「二零二四年年 報」）；及(ii)本公司日期為二零二五年八月二十二日內容有關二零二四年年報之補充公告 （「補充公告」）。除另有定義外，本公告所用詞彙與補充公告所界定者具有相同涵義。 董事會謹此進一步補充以下有關配售A及配售B所得款項用途及新購股權計劃的額外資 料。 新購股權計劃項下可供授出的購股權數目 由於新購股權計劃於二零二四年十一月十九日才獲採納，於二零二四年一月一日，計劃 授權限額及服務提供者分項限額下並無可供授出的購股權。於二零二四年十二月三十一 日，計劃授權限額下可供授出可認購14,535,748股股份的購股權及服務提供者分項限額下 可供授出可認購4 ...

[Supplementary Announcement Overview](index=1&type=section&id=%E8%A3%9C%E5%85%85%E5%85%AC%E5%91%8A%E6%A6%82%E8%BF%B0) This announcement supplements the 2024 annual report and prior announcements, providing additional details on Placing A and B proceeds and the new share option scheme - This announcement further supplements the 2024 annual report and previous supplementary announcements[4](index=4&type=chunk) - The supplementary content primarily concerns the use of proceeds from Placing A and Placing B and the new share option scheme[4](index=4&type=chunk) [Use of Proceeds](index=1&type=section&id=%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%94%A8%E9%80%94) Net proceeds from Placing A and B were fully utilized for general working capital, consistent with previously disclosed purposes - The net proceeds from Placing A and Placing B have been fully utilized for the Group's **general working capital**[5](index=5&type=chunk) - The use of proceeds aligns with the purposes disclosed in the company's announcements on January 15, 2024, and August 26, 2024[5](index=5&type=chunk) [New Share Option Scheme](index=1&type=section&id=%E6%96%B0%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The new share option scheme, adopted in November 2024, specifies the number of options available for grant and clarifies the revised maximum new shares to be issued - The new share option scheme was adopted on **November 19, 2024**[6](index=6&type=chunk) [Number of Share Options Available for Grant](index=1&type=section&id=%E6%96%B0%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83%E9%A0%85%E4%B8%8B%E5%8F%AF%E4%BE%9B%E6%8E%88%E5%87%BA%E7%9A%84%E8%B3%BC%E8%82%A1%E6%AC%8A%E6%95%B8%E7%9B%AE) As of December 31, 2024, the number of share options available for grant under the new scheme is specified, with none available at year-start - As of January 1, 2024, no share options were available for grant under the scheme mandate limit or the service provider sub-limit[6](index=6&type=chunk) Number of Share Options Available for Grant under New Share Option Scheme as of December 31, 2024 | Item | Number of Share Options (shares) | | :--- | :--- | | Scheme Mandate Limit | 14,535,748 | | Service Provider Sub-limit | 4,360,724 | [Maximum Number of New Shares to be Issued](index=2&type=section&id=%E6%96%B0%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83%E9%A0%85%E4%B8%8B%E5%B0%87%E4%BA%88%E7%99%BC%E8%A1%8C%E6%96%B0%E8%82%A1%E4%BB%BD%E7%9A%84%E6%95%B8%E7%9B%AE%E4%B8%8A%E9%99%90) The Board clarified and revised a clerical error regarding the maximum number of new shares to be issued under the new share option scheme - The Board clarified a clerical error in the supplementary announcement regarding the maximum number of new shares to be issued under the new share option scheme[8](index=8&type=chunk) Revision to Maximum Number of New Shares to be Issued under New Share Option Scheme | Metric | Before Revision | After Revision | | :--- | :--- | :--- | | Maximum New Shares | Not applicable (clerical error) | 14,535,748 shares | | Percentage of Existing Issued Share Capital | Approximately 10.0% | Approximately 9.4% | | Existing Issued Share Capital | 145,357,480 shares | 154,757,480 shares |

Group 1 - The core point of the article is that Ying Sheng Science (00209) has completed a placement agreement, issuing a total of 30.95 million shares at a price of HKD 0.35 per share, which represents approximately 16.67% of the company's expanded issued share capital as of the announcement date [1][1][1] - On September 19, shareholders deposited shares into Imagi Brokerage Limited, with a market value of HKD 8.9759 million, accounting for 20% [1][1][1] - All conditions outlined in the placement agreement have been met, and the placement was completed according to the terms and conditions of the agreement [1][1][1]

Group 1 - The core point of the article is that Ying Sheng Science has completed a placement agreement, issuing shares at a price of HKD 0.35 per share, which represents approximately 16.67% of the company's expanded issued share capital [1][1][1] Group 2 - On September 19, shareholders of Ying Sheng Science deposited shares into Imagi Brokerage Limited, with a total market value of HKD 8.9759 million, accounting for 20% [1][1][1] - The company has issued a total of 30.9515 million placement shares to no fewer than six subscribers [1][1][1]

Group 1 - The company Ying Sheng Science (00209.HK) announced the issuance of 30.95 million shares under a placement agreement, with an issue price of HKD 0.35 per share [1]

如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | | 是 | | | | 證券代號 (如上市) 00209 | 說明 | | 根據一般授權配售新股份 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | 每股發行/出售價 (註4) | 已發行股份總數 | | | 於下列 ...

Core Viewpoint - The company, Ying Sheng Science (00209), has successfully completed a placement agreement, issuing a total of 30.9515 million shares at a price of HKD 0.35 per share, which represents approximately 16.67% of the company's enlarged issued share capital as of the announcement date [1]. Group 1 - The placement agreement conditions have all been met, and the placement was completed on September 19, 2025 [1]. - The company issued shares to no fewer than six placees [1]. - The placement price per share was set at HKD 0.35 [1].