Financial Performance - The company's revenue reached HKD 447,000,000, an increase of 38.4% compared to HKD 322,900,000 in the same period last year[10] - The company achieved a core profit of HKD 15,300,000, reversing a loss of HKD 1,200,000 from the previous year[10] - The company recorded a net revaluation loss of investment properties amounting to HKD 245,300,000, significantly higher than HKD 68,100,000 from the previous year[20] - The net loss attributable to shareholders was HKD 230,000,000, compared to HKD 69,300,000 in the previous year, with a basic loss per share of HKD 0.417[20] - The group reported a total revenue of HKD 447.032 million for the six months ended September 30, 2025, compared to HKD 322.921 million in 2024, reflecting a significant increase[45] - The group incurred a loss before tax of HKD 274.145 million for the six months ended September 30, 2025, compared to a loss of HKD 30.005 million in 2024[45] - The total comprehensive loss for the period was HKD 104.054 million, compared to a comprehensive income of HKD 454.865 million in 2024[46] - The company reported a significant increase in revenue from mainland China, rising to HKD 340,729,000 from HKD 226,192,000, marking a growth of 50.6%[68] Property Development - The residential project "港匯臺" contributed an operating profit of HKD 56,600,000, with total contracted sales amounting to HKD 640,000,000 as of November 25, 2025[19] - Property development revenue surged 258.7% to HKD 188,700,000 for the six months ending September 30, 2025, compared to HKD 52,600,000 in 2024, with operating profit increasing 197.2% to HKD 94,800,000 from HKD 31,900,000[21] - As of November 25, 2025, 68 residential units of the "港匯臺" project have been sold, generating contracted sales of approximately HKD 640,000,000[23] - Revenue from external customers for property development, investment, and management totaled HKD 447,032,000 for the six months ended September 30, 2025, compared to HKD 322,921,000 in 2024, representing a year-over-year increase of approximately 38.5%[61][63] Investment Properties - Rental income from investment properties decreased by 3.3% to HKD 238,000,000 for the six months ending September 30, 2025, down from HKD 246,000,000 in 2024, with an operating loss of HKD 232,200,000 compared to an operating profit of HKD 78,800,000 in 2024[24] - The fair value of the investment property portfolio as of September 30, 2025, was HKD 15,205,000,000, down from HKD 15,391,000,000 on March 31, 2025, reflecting a fair value decrease of HKD 245,300,000 after tax adjustments[30] - The company’s investment properties recorded a loss of HKD 370,010 thousand, compared to a loss of HKD 65,674 thousand in the previous year[52] - The company’s investment properties amounted to HKD 15,870,296,000 as of September 30, 2025[64] Financial Position - As of September 30, 2025, the company's equity attributable to shareholders was HKD 7,006,000,000, with a net asset value per share of HKD 12.71[20] - The total equity attributable to shareholders was approximately HKD 7.006 billion as of September 30, 2025, a decrease from HKD 7.118 billion on March 31, 2025, primarily due to net losses during the period[38] - The total assets of the company as of September 30, 2025, were HKD 19,850,455,000, with liabilities totaling HKD 9,153,754,000[64] - The total liabilities to equity ratio as of September 30, 2025, was approximately 0.85, indicating a stable leverage position[49] Debt and Cash Flow - As of September 30, 2025, the total interest-bearing debt was approximately HKD 7.512 billion, with about 15% classified as current liabilities, including HKD 238 million related to refinancing projects due within the next twelve months[36] - The group's cash and cash equivalents totaled approximately HKD 903 million as of September 30, 2025, down from HKD 1.106 billion on March 31, 2025[36] - Cash flow from operating activities was HKD 51,856 thousand for the six months ended September 30, 2025, a significant decrease from HKD 299,308 thousand in the previous year[52] - The company’s cash and bank balances were HKD 849,983,000, down from HKD 1,152,066,000 in the previous year[55] Employee and Management - The group employed approximately 300 employees as of September 30, 2025, down from 330 employees on March 31, 2025[41] - The group reported a significant increase in short-term employee benefits, totaling HKD 16,015,000 for the six months ended September 30, 2025, compared to HKD 9,986,000 for the same period in 2024, a 60% rise[92] - The company’s management compensation is currently reviewed by the executive directors rather than a remuneration committee, which the board believes is more appropriate[100] Corporate Governance - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, confirming compliance for the six months ending September 30, 2025[99] - The company has established an audit committee that meets at least twice a year to review and monitor the financial reporting process and internal controls[101] - The company’s board believes that the continuity of the chairman and CEO is crucial for consistent leadership and smooth operations, thus they will not rotate out as per governance code[100]

Core Viewpoint - Rhine Biotech (002166) has officially disclosed its asset restructuring and control change plan after a 10-day trading suspension, intending to issue shares to Guangzhou Defu Nutrition Investment Partnership and change its controlling shareholder to Guangzhou Defu Nutrition [1][2] Group 1: Share Transfer and Control Change - The control change framework agreement was signed on December 22, where Qin Benjun, the controlling shareholder, will transfer 8.09% of shares to Guangzhou Defu Nutrition and relinquish 25.50% of voting rights while retaining 3% [2] - After the transaction, Guangzhou Defu Nutrition will hold 8.09% of shares and 11.17% of voting rights, while Qin Benjun will retain 28.50% of shares and 4.14% of voting rights [2] - The total transaction price is estimated at 646 million yuan, with a transfer price of 10.76 yuan per share, representing a premium of 23.68% compared to the closing price of 8.70 yuan before the suspension [2] Group 2: Strategic Intent and Business Expansion - Guangzhou Defu Nutrition, established on December 2, 2025, is an investment company focused on the healthcare sector, managing nearly 24 billion yuan in healthcare assets [3] - Rhine Biotech aims to leverage Defu Capital's resources to enhance its investment and acquisition capabilities in the healthcare sector, creating a comprehensive health ecosystem [3] - The company has signed agreements to acquire 80% of Beijing Jinkangpu, a leading enterprise in the field of nutritional fortifiers, thereby expanding its business into the nutritional fortifier formulation sector [4][6] Group 3: Financial Performance of Beijing Jinkangpu - As of September 2023, Beijing Jinkangpu reported total assets of 593 million yuan and net assets of 535 million yuan, with revenues of 338 million yuan and a net profit of 40.33 million yuan for the first three quarters of 2025 [4]

Core Viewpoint - Rhein Biotech is undergoing a change in control, with Guangzhou Defu Nutrition becoming the new controlling shareholder, effective from December 24, following a series of agreements signed on December 22 [1][2]. Shareholding Structure - Prior to the agreement, Qin Benjun held 36.59% of Rhein Biotech's shares and 36.59% of the voting rights. After the transfer, he will hold 28.50% of the shares and 4.14% of the voting rights [2][3]. - Guangzhou Defu Nutrition will acquire 8.09% of Rhein Biotech's shares and 11.17% of the voting rights post-transaction [3]. Financial Details of the Transaction - The total transaction price for the share transfer is 646 million yuan (including tax), with a transfer price of 10.76 yuan per share, representing a premium of 23.68% over the closing price of 8.70 yuan on December 9 [1]. Company Background and Strategy - Guangzhou Defu Nutrition was established on December 2, 2025, and is controlled by Hou Ming and Li Zhenfu. It focuses on the healthcare and consumer sectors [4]. - Rhein Biotech aims to leverage Defu Capital's resources in the healthcare sector to enhance its operational efficiency and governance structure [4]. Expansion Plans - Rhein Biotech plans to expand its industry chain through acquisitions, specifically by purchasing 80% of Beijing Jinkangpu Food Technology Co., Ltd. [6]. - The company intends to create a closed-loop industry chain from raw materials to formulation solutions, enhancing synergy with Beijing Jinkangpu, a leading supplier of nutritional fortifiers [6]. Financial Performance - As of September 30, 2025, Rhein Biotech reported total assets of 4.985 billion yuan and net assets of 3.162 billion yuan [7]. - The company's net profit for the first three quarters of 2025 was approximately 70.40 million yuan [10].

Core Viewpoint - Rhine Biotech is undergoing a change in control, with Guangzhou Defu Nutrition becoming the new controlling shareholder, effective from December 24, following a series of agreements signed on December 22 [2][3]. Shareholder Changes - The controlling shareholder Qin Benjun will transfer 8.09% of his shares to Guangzhou Defu Nutrition and will relinquish 25.50% of his shares while retaining 3% voting rights [2][4]. - After the transaction, Qin Benjun will hold 28.50% of Rhine Biotech's shares and 4.14% of the voting rights [3][4]. Transaction Details - The total transaction price for the share transfer is 646 million yuan (including tax), with a transfer price of 10.76 yuan per share, representing a premium of 23.68% over the closing price of 8.70 yuan on December 9 [2][4]. Company Background - Guangzhou Defu Nutrition was established on December 2, 2025, by Defu Capital and currently has not engaged in any actual business activities [5]. - Defu Capital focuses on the healthcare and consumer sectors, aiming to leverage its resources to enhance Rhine Biotech's operational efficiency and governance structure [5]. Strategic Expansion - Rhine Biotech plans to expand its industry chain through acquisitions, specifically by purchasing 80% of Beijing Jinkangpu Food Technology Co., Ltd. [6]. - The company aims to create a closed-loop industry chain from raw materials to formulation solutions, enhancing business synergy with Beijing Jinkangpu, a leading supplier of nutritional fortifiers [6][8]. Financial Overview - As of September 30, 2025, Rhine Biotech reported total assets of 4.985 billion yuan and net assets of 3.162 billion yuan, with a net profit of 163 million yuan for 2024 and 70.4 million yuan for the first three quarters of 2025 [8][9]. - Beijing Jinkangpu's total assets were reported at 593 million yuan, with a net profit of 70.3 million yuan for 2024 and 40.3 million yuan for the first three quarters of 2025 [7][8].

Group 1 - The stock price of Yuanwanggu (002161) closed at 7.09 yuan on December 22, 2025, down by 0.98%, with a turnover rate of 2.49%, a trading volume of 175,800 shares, and a transaction amount of 125 million yuan [1] - On December 22, 2025, the main funds experienced a net outflow of 19.45 million yuan, while retail investors saw a net inflow of 16.20 million yuan [3] - The company held its 11th (temporary) meeting of the 8th Board of Directors on December 22, 2025, where it approved two resolutions regarding bank financing and the change of accounting currency for its overseas subsidiary [1][2] Group 2 - The board approved a resolution to change the accounting currency of its Singapore subsidiary from Singapore Dollar (SGD) to US Dollar (USD) effective December 1, 2025, to reduce foreign exchange gains and losses and enhance the reliability of financial information [2][3] - This change in accounting policy will be applied prospectively and will not affect prior financial data [2]

Group 1 - The company Jianye Industrial (00216) announced that Mr. Lin Yansheng has resigned as an executive director, effective from December 19, 2025 [1]

智通财经APP讯，建业实业(00216)发布公告，林燕胜先生(林先生)辞任本公司执行董事，由2025年12月 19日起生效。 ...

王承 偉 先生 （ 主席 ） 陳遠 強 先生 （ 副主 席） 周明 祖 先生 （ 董事 總經 理 ） 非執 行 董事 王妍 醫 生 獨立 非 執行 董 事 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （ 股 份 代 號 ： 216） 董事名單及其角色和職能 建業實業有限公司 之董 事 會（ 「 董事 會」 ） 成員 載 列如 下： 執行 董 事 羅志 豪 先生 范偉 立 先生 Randall Todd Turney先 生 徐英 略 先生 董事會設立三個委員會。各董事會成員在這些委員會中所擔任的職位載列如下： | | | 審核 委 員會 | 薪酬 委 員會 | 提名 委 員會 | | --- | --- | --- | --- | --- | | 王承 偉 先生 | | | 成員 | 成員 | | 陳遠 強 | 先生 | | 成員 | | | 王妍 | 醫 生 | | | 成員 | | 羅志 豪 | 先生 | 成員 | 成員 | 主席 | | 范偉 立 先生 | | 主席 | 主席 | 成員 | | Randall Todd Turney先 生 | | 成員 | 成員 | 成員 | 香港 ，2025 ...

格隆汇12月19日丨建业实业(00216.HK)公告，林燕胜辞任公司执行董事，由2025年12月19日起生效。 ...

林先生 已 確 認 彼 與 董 事 會 並 無 意 見 分 歧 ， 亦 無 任 何 與 彼 辭 任 有 關 之 其 他 事 宜 須 本公司股東注意。 董 事 會 謹 藉 此 機 會 感 謝 林 先 生 於 彼 擔 任 本公司 執 行 董 事 之 任 期 內 作出 之 寶貴 貢 獻。 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 。 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （ 股 份 代 號 ： 216） 執行董事辭任 建業實業 有限公司 （ 「 本公司 」 ） 董 事 （ 「 董 事 」 ） 會 （ 「 董事會 」 ） 謹 此 宣 佈 ， 林燕 勝 先生 （ 「林 先生 」 ）辭 任 本公 司執 行 董事 ， 由2025年12月19日起生效 。 林 先 生 將 集 中 投 放 其 時間和 專注於 擔 任 目 前 漢 國 置 業 有 限 公 司 董 事 總 經 理 之 職 位 （ 漢 國 ...