金融界消息 截至2025年8月14日收盘，*ST返利（600228）报收于4.62元，上涨5.0%，换手率4.34%，成 交量18.04万手，成交金额8205.47万元。 资金流向方面，今日主力资金净流入2314.48万元，占比成交额28.21%。其中，超大单净流入516.92万 元、占成交额6.3%，大单净流入1797.56万元、占成交额21.91%，中单净流出流出1185.19万元、占成交 额14.44%，小单净流出1129.29万元、占成交额13.76%。 *ST返利最新一期业绩显示，截至2025一季报，公司营业总收入5359.66万元、同比减少16.68%，归属净 利润1398.14万元，同比减少440.90%，扣非净利润1417.20万元，同比减少446.56%，流动比率3.919、速 动比率3.908、资产负债率23.70%。 来源：金融界 天眼查商业履历信息显示，返利网数字科技股份有限公司，成立于1999年，位于赣州市，是一家以从事 专用设备制造业为主的企业。企业注册资本42325.0036万人民币，实缴资本41927.2377万人民币。公司 法定代表人为葛永昌。 通过天眼查大数据分析，返利网数 ...

Group 1 - The financing net purchase of A-shares reached 37.2 billion yuan for the week, marking the sixth consecutive week of net purchases exceeding 10 billion yuan, with a total financing balance of 1.97 trillion yuan, the highest level in 10 years since June 2015 [1] - The pharmaceutical and biotechnology sectors received over 6 billion yuan in net purchases, while the electronics sector saw over 3 billion yuan, and the banking and communication sectors also received over 2 billion yuan each [1] - The pharmaceutical sector demonstrated strong resilience during market adjustments, with indices related to hepatitis and Helicobacter pylori reaching historical highs, and traditional Chinese medicine indices hitting yearly highs [1] Group 2 - Qizheng Tibetan Medicine (002287) has seen a continuous three-day limit-up, reaching a nearly five-year high, with a cumulative increase of over 66% this year [2] - Several other pharmaceutical companies, including Anglikang and Guizhou Bailin, have also experienced consecutive limit-ups, indicating strong market interest in the sector [2] Group 3 - The National Development and Reform Commission has initiated a healthcare strengthening project to address weaknesses in grassroots medical services, aligning with the central economic work conference's spirit [4] - The Chinese medicine market is projected to reach 550 to 600 billion yuan by 2025, with further growth expected to 1.2 to 2 trillion yuan by 2030, maintaining a compound annual growth rate of 10% to 14% [4] - Investment in research and development by traditional Chinese medicine companies has been increasing, with a focus on innovation in traditional and biopharmaceuticals expected to provide additional valuation flexibility [4] Group 4 - Short-term adjustments are not expected to alter the long-term upward trend of the market, with 3480 points identified as a strong technical support level [5] - The market is currently in a transitional phase seeking main structural opportunities for a bull market, with a recommendation to actively explore new structural opportunities [6] - The focus is on sectors driven by technological trends, such as AI, and midstream manufacturing that benefits from policy improvements and supply clearing [6]

Group 1 - The A-share market experienced a slight adjustment after reaching new highs, with the Shanghai Composite Index fluctuating around 3600 points, while financing activities remained strong, with a net purchase of 37.2 billion yuan for the week, marking the sixth consecutive week of net buying exceeding 10 billion yuan [1] - The pharmaceutical and electronics sectors attracted significant net inflows, with the pharmaceutical sector receiving over 30.8 billion yuan and the electronics sector over 25.1 billion yuan in net inflows, while sectors like coal, oil, and non-ferrous metals saw slight net selling [1][2] - The medical and biological stocks demonstrated resilience during market adjustments, with various indices related to hepatitis and traditional Chinese medicine reaching new highs, and several stocks, including Qizheng Tibetan Medicine, hitting their highest levels in five years [2] Group 2 - The Chinese traditional medicine market is projected to reach a scale of 550 to 600 billion yuan by 2025, with further growth expected to 1.2 to 2 trillion yuan by 2030, maintaining a compound annual growth rate of 10% to 14% [3] - Continuous growth in R&D investment by traditional Chinese medicine companies is expected to support future development, with innovation in traditional medicine and biopharmaceuticals likely to provide additional valuation flexibility [3] - The market outlook remains positive, with analysts suggesting that the current short-term adjustments do not alter the long-term upward trend, and there are opportunities to explore in sectors driven by technological advancements and improving economic conditions [3]

Core Viewpoint - *ST Yushun (002289) has shown significant growth in revenue and profit, indicating a positive trend in its financial performance as of the first quarter of 2025 [1] Financial Performance - As of the first quarter of 2025, *ST Yushun reported total revenue of 45.73 million yuan, representing a year-on-year increase of 93.73% [1] - The net profit attributable to shareholders was 1.14 million yuan, up 112.70% year-on-year [1] - The company's non-recurring net profit was 503,000 yuan, reflecting a growth of 105.31% year-on-year [1] - The liquidity ratios are as follows: current ratio at 1.397, quick ratio at 1.138, and debt-to-asset ratio at 38.15% [1] Stock Performance - As of August 1, 2025, *ST Yushun's stock closed at 20.36 yuan, with an increase of 5.0% [1] - The trading volume was 55,700 hands, with a transaction amount of 112 million yuan [1] - The net inflow of main funds was 13.99 million yuan, accounting for 12.54% of the transaction amount [1] Company Overview - Shenzhen Yushun Electronics Co., Ltd. was established in 2004 and is primarily engaged in the manufacturing of computers, communications, and other electronic devices [2] - The company has a registered capital of 280.25 million yuan and has made investments in 10 external enterprises [2] - The company holds 9 trademark registrations and 166 patents, along with 11 administrative licenses [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 致：香港交易及結算所有限公司 公司名稱: 中國能源開發控股有限公司 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 | 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) | 00228 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 25,000,000,000 | HKD | | 0.05 HKD | | 1,250,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 25,000,000,000 | HKD | | 0.05 HKD | | 1,250,000,000 | 本月底法定/註冊股本總額： HKD ...

Core Viewpoint - Carson Yeung, former owner of Birmingham City Football Club, is suing Wang Guoju for 1.2 billion HKD in commission related to a natural gas field project and for the unauthorized sale of 300 million shares of China Energy Holdings [1][2]. Group 1: Legal Dispute - The lawsuit claims that Wang Guoju failed to pay a commission of 1.2 billion HKD, which is 12% of the net proceeds from the sale of the natural gas project, amounting to 10 billion HKD [2]. - Yeung alleges that he transferred 300 million shares of China Energy Holdings to Wang Guoju for safekeeping, and that Wang Guoju has neither returned the shares nor paid the commission [2][3]. - The agreement stipulated that if Wang Guoju did not pay the commission, he was to return the shares immediately [2]. Group 2: Company Background - China Energy Holdings has been involved in a conditional sale agreement related to the natural gas project, with payments totaling approximately 1.249 billion HKD made to a related entity [3]. - Wang Guoju was the controlling shareholder of China Energy Holdings, holding 62.13% of the shares in 2017, which later decreased to 26.68% by 2024 [4][5]. - In 2024, China Energy Holdings reported a revenue of 300 million HKD, a decrease of 9.6% year-on-year, primarily due to technical issues affecting gas production [5].

6月13日，截至港股收盘，恒生指数下跌0.59%，报23892.56点。中能控股（00228.HK）收报0.05港元/ 股，上涨8.7%，成交量913.8万股，成交额44.6万港元，振幅10.87%。 最近一个月来，中能控股累计跌幅6.12%，今年来累计跌幅22.03%，跑输恒生指数19.82%的涨幅。 资料显示，中国能源开发控股有限公司是一间在香港联合交易所主板上市的公司(股份代号:228)。本集 团主要从事投资控股。现时本集团之主要业务包括于香港经营连锁中式酒楼。于二零一一年一月三日, 本集团已完成收购共创投资集团(香港)有限公司,连同其附属公司统称为'共创投资集团'之全部股本权 益。共创投资集团主要于中国从事生产石油及/或天然气业务。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 来源：金融界 财务数据显示，截至2024年12月31日，中能控股实现营业总收入2.78亿元，同比减少9.62%；归母净利 润2532.16万元，同比减少60.67%；毛利率82.8%，资产负债率21.15%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，石油及天然气行 ...

Financial Performance - For the year ended December 31, 2024, the Group recorded revenue of approximately HK$300,101,000, a decrease of 9.6% from HK$332,034,000 in 2023[17]. - EBITDA decreased from approximately HK$219,443,000 in 2023 to approximately HK$174,027,000 in 2024, a decline of 20.7%[19]. - Profit attributable to owners of the Company decreased by approximately HK$42,185,000 or 60.7% to approximately HK$27,344,000 for the year ended December 31, 2024, primarily due to increased impairment provisions and other operating expenses[29][33]. - The EBITDA margin decreased by 8.1% year-on-year to 58.0%, while the net profit margin decreased by 11.8% year-on-year to 8.9% for the year ended December 31, 2024[30][33]. - Revenue for the year ended 31 December 2024 decreased by approximately HK$33,593,000 or 10.6% year-on-year to approximately HK$282,777,000, primarily due to technical problems in certain gas fields, resulting in a gas production decrease of approximately 9.8% to approximately 431.0 million cubic meters[67][71]. Production and Operations - The Group produced approximately 431.0 million cubic meters of natural gas, representing a decrease of approximately 9.8% compared to the previous year[18]. - The Group's revenue from the production and distribution of natural gas decreased by approximately HK$31,933,000 year-on-year[18]. - The technical issues in certain gas fields, such as water and slurry blockage, contributed to the decrease in production[18]. - Segment profit before income tax for the Kashi Project was approximately HK$87,191,000 for the year ended December 31, 2024, down from approximately HK$114,598,000 in 2023, representing a decline of about 23.9%[51][55]. - Revenue from the Karamay Project increased by approximately HK$1,660,000 or 10.6% to approximately HK$17,324,000 for the year ended 31 December 2024[81][85]. Impairment Provisions - Provision for impairment of property, plant, and equipment increased from approximately HK$1,803,000 in 2023 to approximately HK$9,121,000 in 2024[22]. - Provision for impairment of intangible assets rose from approximately HK$3,330,000 in 2023 to approximately HK$4,554,000 in 2024[22]. - The carrying amount of the Kashi Project's cash-generating unit (CGU) as of December 31, 2024, was approximately HK$2,040,678,000, exceeding the recoverable amount of approximately HK$2,031,791,000, resulting in an impairment provision of approximately HK$4,554,000 for intangible assets and approximately HK$4,333,000 for property, plant, and equipment[23][27]. - The impairment provision for property, plant, and equipment increased from approximately HK$1,803,000 for the year ended December 31, 2023, to approximately HK$9,121,000 for the year ended December 31, 2024, including a provision of approximately HK$4,778,000 for properties in Hong Kong[26][33]. Operating Expenses - Other operating expenses increased by approximately HK$10,457,000 or 103.0% to approximately HK$20,607,000, primarily due to duty fees on the gain from the transfer of mining rights[28][33]. - Operating expenses increased by approximately HK$11,475,000 or 40.0% to approximately HK$40,166,000 for the year ended December 31, 2024, driven by higher office and administration expenses[70][74]. - Direct costs increased by approximately HK$3,393,000 or 8.8% to approximately HK$41,835,000 for the year ended December 31, 2024, attributed to higher repair and maintenance work volume compared to 2023[68][72]. Financial Position - The gearing ratio improved to approximately 24.9% as of June 30, 2024, down from approximately 34.0% as of December 31, 2023[90]. - As of December 31, 2024, the Group's outstanding secured and unsecured borrowings were approximately HK$203,700,000 and HK$58,108,000 respectively, compared to HK$353,160,000 and Nil in 2023[91]. - The Group's cash and cash equivalents decreased to approximately HK$34,346,000 in 2024 from approximately HK$45,203,000 in 2023[91]. - The current ratio was approximately 44.7% in 2024, down from 47.9% in 2023[91]. - The total liabilities to total assets ratio improved to approximately 21.1% in 2024 from 26.8% in 2023[91]. Corporate Governance - The company is committed to maintaining good corporate governance standards and has complied with the Corporate Governance Code during the reporting period, with some deviations noted[149]. - The company has established a framework for reviewing its governance structure to adapt to changing circumstances and ensure effective leadership[149]. - The company has appointed independent non-executive directors with extensive experience in accounting and corporate governance to strengthen its board[143]. - The Company has implemented a Whistleblowing Policy to allow confidential reporting of misconduct by employees and business partners[160]. - The Company has an Anti-corruption Policy that mandates strict compliance with conduct guidelines and the Prevention of Bribery Ordinance[161]. Management and Leadership Changes - Mr. Liu Dong appointed as CEO and executive Director effective April 30, 2024[128]. - Mr. Yan Danhua appointed as non-executive Director and member of the Audit Committee on July 19, 2024[131]. - Mr. Chen Jianxin appointed as non-executive Director and member of the Audit Committee on July 19, 2024[135]. - The company is focused on expanding its leadership team with experienced professionals in the energy sector[134]. - The appointments of new directors are expected to enhance the company's strategic direction and operational efficiency[140]. Employee and Diversity Initiatives - As of December 31, 2024, the company had 54 employees, with a gender ratio of approximately 2:1 (Male: Female), reflecting a reasonable balance of gender diversity in the natural gas exploration and development industry[193]. - The company values diverse talents and experiences among its employees to foster innovative ideas and drive enterprise growth[193]. - All board appointments are based on meritocracy, considering objective criteria and the benefits of diversity, including gender, age, cultural background, and professional experience[192]. - The Company has adopted a Board Diversity Policy to ensure a balance of skills, experience, and diverse perspectives necessary for executing its strategic objectives[191].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 300,101 thousand, a decrease of 9.6% compared to HKD 332,034 thousand in 2023[3] - Profit before interest, tax, depreciation, and amortization (EBITDA) was HKD 174,027 thousand, down 20.7% from HKD 219,443 thousand in the previous year[3] - Net profit attributable to the company's owners was HKD 27,344 thousand, representing a significant decline of 60.7% from HKD 69,529 thousand in 2023[3] - Basic earnings per share decreased by 65.8% to HKD 0.25 from HKD 0.73 in the prior year[3] - The company reported a total loss before tax of HKD 56,399 for the year 2024, compared to a profit of HKD 90,765 in 2023, marking a significant decline[26] - The company's profit before tax decreased to HKD 27,344,000 in 2024 from HKD 69,529,000 in 2023, reflecting a decline of approximately 60.7%[33] - The net profit margin decreased by 11.8% to 8.9% for the year ended December 31, 2024, mainly due to the reasons mentioned above[54] Assets and Liabilities - Non-current assets decreased from HKD 2,220,573,000 in 2023 to HKD 2,089,660,000 in 2024, a decline of approximately 5.9%[6] - Current assets increased from HKD 145,847,000 in 2023 to HKD 180,875,000 in 2024, representing an increase of about 24%[6] - Total assets decreased from HKD 2,366,420,000 in 2023 to HKD 2,270,535,000 in 2024, a reduction of approximately 4.0%[6] - Current liabilities rose from HKD 304,698,000 in 2023 to HKD 404,871,000 in 2024, an increase of around 32.8%[6] - The company’s current liabilities net value showed a decline from HKD (158,851,000) in 2023 to HKD (223,996,000) in 2024, worsening by about 41%[6] - The company’s total liabilities decreased from HKD 329,866,000 in 2023 to HKD 75,281,000 in 2024, a significant reduction of approximately 77%[7] - The total liabilities reported as of December 31, 2024, were HKD 480,152, down from HKD 634,564 in 2023, indicating a decrease of approximately 24.2%[26][24] Cash Flow and Financing - The company incurred financing costs of HKD 36,059 thousand, down from HKD 49,176 thousand in 2023[4] - Total financing costs decreased to HKD 36,059,000 in 2024 from HKD 49,176,000 in 2023, a reduction of approximately 26.7%[29] - The company has entered into an oil contract with China National Petroleum Corporation for exploration and production in the Tarim Basin, Xinjiang, with a term of 30 years starting from June 1, 2009[60] - Other borrowings amount to approximately RMB 249,341,000 (equivalent to approximately HKD 261,808,000) due for repayment by December 31, 2025[59] Market Outlook and Strategy - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4] - Future guidance indicates a cautious outlook due to current market conditions and operational challenges[4] - The management is seeking high-quality borrowers in the lending business to reduce the risk of defaults, adopting a cautious stance given the current financial situation[84] Segment Performance - The reported segment profit before tax for the natural gas exploration, production, and distribution segment was HKD 87,191, down from HKD 114,598 in the previous year, indicating a decrease of about 23.9%[22][26] - Revenue from major customers in the natural gas exploration, production, and distribution segment showed a decline, with Customer A contributing HKD 282,777 in 2024 compared to HKD 316,370 in 2023[27] - The natural gas distribution business in the Kashgar project generated revenue of approximately HKD 300,101,000 in 2024, compared to HKD 332,034,000 in 2023, reflecting a decrease of about 9.6%[65] Corporate Governance - The company has not declared any dividends for the current year, consistent with the previous year (2023: none) [107] - The company has adopted the securities trading standards as per the listing rules, confirming compliance throughout the review period [106] - The board of directors has appointed a new independent non-executive director, effective December 20, 2024, to enhance board diversity [105] - The company has deviated from certain corporate governance codes, believing that the previous structure did not undermine the balance of power between the board and management [103] - The board has not held regular meetings as per the governance code, conducting only semi-annual meetings instead of the required quarterly ones [104] - The company lacks an internal audit function, which will be reviewed to assess the effectiveness of risk management and internal controls [104] Management Changes - Zhao Guoqiang resigned as Executive Director, CEO, and Authorized Representative effective April 30, 2024, to focus on personal matters[85] - Liu Wenxuan appointed as Executive Director, CEO, and Authorized Representative effective April 30, 2024[85] - Feng Huiyuan joined the company as Vice President on September 16, 2024, with a background in business management and technology[88] - Zheng Zhenying resigned as Independent Non-Executive Director and various committee roles effective December 20, 2024, to focus on personal matters[89] - Qian Yingying appointed as Independent Non-Executive Director and committee member effective December 20, 2024[89]

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 300,101 thousand, a decrease of 9.6% compared to HKD 332,034 thousand in 2023[3] - Profit before interest, tax, depreciation, and amortization (EBITDA) was HKD 174,027 thousand, down 20.7% from HKD 219,443 thousand in the previous year[3] - Net profit attributable to the company's owners was HKD 27,344 thousand, reflecting a significant decline of 60.7% from HKD 69,529 thousand in 2023[3] - Basic earnings per share decreased to HKD 0.25, down 65.8% from HKD 0.73 in the prior year[3] - The company reported a loss of HKD 50,483 thousand from foreign exchange differences attributable to owners, compared to a loss of HKD 63,177 thousand in 2023[5] - Total comprehensive loss for the year was HKD 24,098 thousand, contrasting with a gain of HKD 5,238 thousand in the previous year[5] - The company incurred financing costs of HKD 36,059 thousand, down from HKD 49,176 thousand in 2023[4] - Future guidance indicates a cautious outlook due to market conditions, with a focus on cost management and efficiency improvements[4] Assets and Liabilities - Non-current assets decreased from HKD 2,220,573,000 in 2023 to HKD 2,089,660,000 in 2024, a decline of approximately 5.9%[6] - Current assets increased from HKD 145,847,000 in 2023 to HKD 180,875,000 in 2024, representing an increase of about 24%[6] - Total assets decreased from HKD 2,366,420,000 in 2023 to HKD 2,270,535,000 in 2024, a reduction of approximately 4.0%[6] - Current liabilities rose from HKD 304,698,000 in 2023 to HKD 404,871,000 in 2024, an increase of around 32.8%[6] - The company’s current liabilities net worth showed a decline from HKD (158,851,000) in 2023 to HKD (223,996,000) in 2024, worsening by about 41%[6] - The company’s total liabilities decreased from HKD 329,866,000 in 2023 to HKD 75,281,000 in 2024, a significant reduction of approximately 77%[7] - The company’s cash and bank balances decreased from HKD 45,203,000 in 2023 to HKD 34,346,000 in 2024, a decline of about 24%[6] Revenue and Segment Performance - For the fiscal year ending December 31, 2024, external customer revenue was HKD 300,101,000, a decrease from HKD 332,034,000 in 2023, representing a decline of approximately 9.6%[22][27] - The reported segment profit before tax for the natural gas exploration, production, and distribution segment was HKD 87,191,000 for 2024, down from HKD 114,598,000 in 2023, indicating a decrease of about 23.9%[22][26] - Revenue from China decreased to 300,101 thousand HKD in 2024 from 332,034 thousand HKD in 2023, representing a decline of approximately 9.4%[29] - The operating profit before tax for the same segment was approximately HKD 87,191,000 in 2024, down from HKD 114,598,000 in 2023, indicating a decline of about 23.9%[66] Employee and Operational Costs - The company's pre-tax profit before income tax was impacted by an increase in employee costs, which rose to 19,930 thousand HKD in 2024 from 18,217 thousand HKD in 2023, an increase of approximately 9.4%[30] - Other operating expenses increased by approximately HKD 10,457,000 or 103.0% to approximately HKD 20,607,000, primarily due to mining rights compensation[52] - As of December 31, 2024, the group employed 54 full-time and part-time employees, with total employee costs amounting to approximately HKD 19,930,000, an increase from HKD 18,217,000 in 2023[75] Governance and Management Changes - Zhao Guoqiang resigned as Executive Director, CEO, and Authorized Representative effective April 30, 2024, to focus on personal matters[85] - Liu Wenxuan appointed as Executive Director, CEO, and Authorized Representative effective April 30, 2024[85] - Zheng Zhenying resigned as Independent Non-Executive Director and various committee roles effective December 20, 2024, to focus on personal matters[89] - Qian Yingying appointed as Independent Non-Executive Director and committee member effective December 20, 2024[89] Corporate Governance and Compliance - The board of directors did not hold regular meetings as required, with only semi-annual meetings instead of the minimum four required annually[104] - The company lacks an internal audit function, which will be reviewed for its adequacy and effectiveness in risk management and internal controls[104] - The company has taken sufficient measures to ensure compliance with corporate governance standards[104] - The audit committee consists of five members, including three independent non-executive directors, ensuring compliance with corporate governance standards[108] Future Outlook and Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4] - The company has identified potential acquisition targets to enhance its market position and operational capabilities[4] - The group is exploring financing options through equity or debt to improve its financial position and address going concern issues[78]