Group 1 - The company reported total revenue of HKD 94.7 million for the six months ending June 30, 2025, representing a year-on-year decrease of 28.5% [1] - The decline in revenue is primarily attributed to weak performance in the healthcare segment, along with reduced interest income from financial investments, partially offset by stable contributions from property investments [1] - The underlying recurring profit, calculated by excluding unrealized fair value changes of financial assets and investment properties, decreased by 26.6% to HKD 45.3 million, mainly due to reduced sales contributions from the healthcare segment [1] Group 2 - The company declared an interim dividend of HKD 0.03 per share and a special interim dividend of HKD 0.05 per share [1]

Core Insights - The company reported a revenue of HKD 94.734 million for the six months ending June 30, 2025, representing a year-on-year decrease of 28.5% [1] - Reported profit was HKD 39.743 million, down 16.2% year-on-year [1] - The underlying recurring profit was HKD 45.294 million, reflecting a year-on-year decline of 26.6% [1] - Earnings per share for reported profit stood at HKD 0.128, with an interim dividend of HKD 0.03 and a special interim dividend of HKD 0.05 proposed [1] - The decrease in reported profit was primarily attributed to lower non-cash fair value losses on investment properties in the first half of 2025 [1]

Core Viewpoint - The company reported a significant decline in revenue and profit for the six months ending June 30, 2025, primarily due to lower non-cash fair value losses on investment properties [1] Financial Performance - Revenue for the period was HKD 94.734 million, representing a year-on-year decrease of 28.5% [1] - Reported profit was HKD 39.743 million, down 16.2% compared to the previous year [1] - Underlying recurring profit decreased by 26.6% to HKD 45.294 million [1] - Earnings per share for reported profit stood at HKD 0.128 [1] Dividend Distribution - The company proposed an interim dividend of HKD 0.03 per share and a special interim dividend of HKD 0.05 per share [1]

EF001 免責聲明 | 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 | 白花油國際有限公司 | | 股份代號 | 00239 | | 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特別中期股息及暫停辦理股份登記手續 | | | 公告日期 | 2025年8月21日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 其他 | | 特別中期股息 | | | 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 股 0.05 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.05 HK ...

EF001 其他信息 其他信息 不適用 發行人董事 於本公告發表日期，董事會成員包括(i)三名執行董事顏為善先生、顏福偉先生及顏清輝先生；(ii)一名非執行董事顏福燕女士；及 第 2 頁 共 2 頁 v 1.1.1 (iii)三名獨立非執行董事梁文釗先生、Dell'Orto Renato 先生及陳志冲先生。 第 1 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 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。 | 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 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 白花油國際有限公司 | | 股份代號 | 00239 | | 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中期股息及暫停辦理股份登記手續 | | 公告日期 | 2025年8月21日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年 ...

白花油國際有限公司 * （於百慕達註冊成立之有限公司） （股份代號：239） 二零二五年中期股息 暫停辦理股份登記手續 白花油國際有限公司（「本公司」）董事會於今天宣佈派發截至二零二五年十二月 三十一日止年度之中期股息每股3.0港仙及特別中期股息每股5.0港仙，股息將派 付予於二零二五年十月六日名列本公司股東名冊之股東。 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，概不對因本公告全部或任 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。 PAK FAH YEOW INTERNATIONAL LIMITED 本公告亦可於香港交易及結算所有限公司的網站 www.hkexnews.hk 及本公司的網 站 www.pakfahyeow.com 覽閱。 承董事會命 白花油國際有限公司 主席 顏為善 香港，二零二五年八月二十一日 於本公告發表日期，董事會成員包括(i)三名執行董事顏為善先生、顏福偉先生及 顏清輝先生；(ii)一名非執行董事顏福燕女士；及(iii)三名獨立非執行董事梁文釗 先生、Dell'Orto Renato先生及 ...

[Summary](index=1&type=section&id=Summary) The company reported a decrease in revenue and underlying recurring profit, with a smaller decline in reported profit due to reduced investment property fair value losses, and declared interim dividends - Revenue and underlying recurring profit decreased by **28.5%** and **26.6%** year-on-year, primarily due to reduced sales revenue from the healthcare business[2](index=2&type=chunk) - Reported profit decreased by **16.2%**, mainly due to lower non-cash fair value losses on investment properties recorded in the first half of 2025[2](index=2&type=chunk) - Declared an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share[2](index=2&type=chunk) Performance Summary for the Six Months Ended June 30, 2025 | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 94,734 | 132,468 | -28.5% | | Reported Profit | 39,743 | 47,407 | -16.2% | | Underlying Recurring Profit | 45,294 | 61,710 | -26.6% | | EPS (Reported Profit) | 12.8 HK cents | 15.2 HK cents | -15.8% | | EPS (Underlying Recurring Profit) | 14.5 HK cents | 19.8 HK cents | -26.8% | | Total Dividend Per Share | 8.0 HK cents | 9.5 HK cents | -15.8% | | Shareholders' Funds (Period End) | 704,177 | 731,908 | -3.8% | | NAV Per Share (Period End) | 2.26 HK$ | 2.35 HK$ | -3.8% | [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the condensed consolidated financial statements, highlighting a decline in revenue and profit, alongside changes in assets and shareholders' equity [Condensed Consolidated Statement of Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the company's revenue decreased by **28.5%** year-on-year, operating profit declined, but narrower investment property revaluation losses led to a **16.2%** decrease in profit attributable to owners of the company Key Data from Condensed Consolidated Statement of Comprehensive Income | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 94,734 | 132,468 | | Operating Profit Before Fair Value Changes | 53,978 | 75,186 | | Revaluation Deficit on Investment Properties | (7,090) | (14,784) | | Operating Profit | 48,427 | 60,883 | | Profit Before Tax | 48,015 | 60,443 | | Profit for the Period Attributable to Owners of the Company | 39,743 | 47,407 | | Total Comprehensive Income for the Period Attributable to Owners of the Company | 4,991 | 23,624 | [Condensed Consolidated Statement of Financial Position](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets slightly increased, but shareholders' funds and net asset value per share decreased, while net current assets grew, total liabilities also rose Key Data from Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 455,719 | 504,113 | -9.6% | | Current Assets | 396,527 | 339,241 | +16.9% | | Current Liabilities | 61,286 | 20,887 | +193.4% | | Net Current Assets | 335,241 | 318,354 | +5.3% | | Net Assets | 704,177 | 731,908 | -3.8% | | Total Equity | 704,177 | 731,908 | -3.8% | [Notes to the Financial Statements](index=8&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed notes on the financial statements, covering accounting policies, segment performance, income, expenses, taxation, dividends, and financial position details [Principal Accounting Policies](index=8&type=section&id=Principal%20Accounting%20Policies) Interim financial information is prepared under the historical cost convention, with investment properties, leasehold land and buildings, and financial assets at fair value through profit or loss measured at fair value, and new/revised HKFRSs adopted this period had no significant impact - Interim financial information is prepared under the historical cost convention, except for investment properties, leasehold land and buildings, and financial assets at fair value through profit or loss, which are measured at fair value[10](index=10&type=chunk) - The adoption of amendments to HKAS 21 "Lack of Exchangeability" had no significant impact on the Group's interim financial information[11](index=11&type=chunk) [Operating Segment Information](index=8&type=section&id=Operating%20Segment%20Information) The Group's operating segments are healthcare, property investment, and treasury investment, with management assessing performance based on segment results before income tax and unallocated finance costs [Business Segments](index=9&type=section&id=Business%20Segments) This section details the external sales revenue and segment results for the healthcare, property investment, and treasury investment business segments External Sales Revenue and Segment Results by Business Segment (Six Months Ended June 30, 2025) | Segment | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | Revenue Change (%) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | Results Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Healthcare | 86,724 | 123,442 | -29.7% | 52,386 | 76,974 | -31.9% | | Property Investment | 4,748 | 4,752 | -0.1% | (2,978) | (10,763) | +72.3% | | Treasury Investment | 3,262 | 4,274 | -23.7% | 7,427 | 4,194 | +77.1% | | Consolidated Total | 94,734 | 132,468 | -28.5% | 48,427 (Operating Profit) | 60,883 (Operating Profit) | -20.4% | Assets and Liabilities by Business Segment (As of June 30, 2025) | Segment | 2025 Assets (HK$ thousand) | 2024 Assets (HK$ thousand) | 2025 Liabilities (HK$ thousand) | 2024 Liabilities (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Healthcare | 370,710 | 360,292 | 16,051 | 12,578 | | Property Investment | 232,021 | 228,193 | 49,779 | 45,143 | | Treasury Investment | 247,120 | 248,616 | – | – | | Consolidated Total | 852,246 | 843,354 | 148,069 | 111,446 | [Geographical Information](index=11&type=section&id=Geographical%20Information) This section provides a breakdown of external sales revenue and operating results by geographical region External Sales Revenue and Operating Results by Region | Region | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | China | 71,764 | 100,588 | 37,518 | 51,567 | | Southeast Asia | 18,748 | 24,674 | 14,238 | 14,526 | | North America | 872 | 3,855 | 391 | 2,159 | | United Kingdom | 3,178 | 3,172 | 3,077 | 1,312 | | Europe (excluding UK) | – | – | 910 | 173 | | Other Regions | 172 | 179 | 103 | (45) | | Consolidated Total | 94,734 | 132,468 | 48,427 | 60,883 | [Other Income](index=11&type=section&id=Other%20Income) Other income, primarily from dividends on listed investments, slightly decreased from **HK$85 thousand** in 2024 to **HK$66 thousand** in 2025 Other Income Details | Source | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Dividend Income from Financial Assets | 67 | 84 | | Gain/(Loss) on Disposal of Financial Assets | (1) | 1 | | **Total** | **66** | **85** | [Net Other Gains and Profit Before Tax](index=12&type=section&id=Net%20Other%20Gains%20and%20Profit%20Before%20Tax) Miscellaneous gains decreased from **HK$290 thousand** in 2024 to **HK$158 thousand** in 2025, with profit before tax at **HK$48,015 thousand**, primarily influenced by finance costs and cost of inventories Net Other Gains and Profit Before Tax Related Data | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Miscellaneous Gains | 158 | 290 | | Finance Costs | 412 | 440 | | Cost of Inventories | 23,343 | 30,597 | | Profit Before Tax | 48,015 | 60,443 | [Taxation](index=13&type=section&id=Taxation) Total taxation decreased from **HK$13,036 thousand** in 2024 to **HK$8,272 thousand** in 2025, primarily due to reductions in Hong Kong profits tax and overseas taxation - Hong Kong profits tax operates under a two-tiered system, with an **8.25%** tax rate for the first **HK$2,000,000** of assessable profits for qualifying entities, and **16.5%** for the remainder[20](index=20&type=chunk) Taxation Expense Details | Tax Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong Profits Tax | 7,822 | 12,582 | | Overseas Taxation | 621 | 591 | | Deferred Tax | (171) | (137) | | **Total** | **8,272** | **13,036** | [Dividends](index=14&type=section&id=Dividends) The Board recommended a final dividend and a special final dividend for the year ended December 31, 2024, and declared an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share for the current period, totaling **HK$24,931 thousand**, lower than the prior period - Proposed a 2024 final dividend of **3.8 HK cents** per share and a special final dividend of **6.7 HK cents** per share[22](index=22&type=chunk) Dividends Attributable to the Period | Dividend Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interim Dividend (3.0 HK cents per share) | 9,349 | 9,349 | | Special Interim Dividend (5.0 HK cents per share) | 15,582 | 20,257 | | **Total** | **24,931** | **29,606** | [Earnings Per Share](index=14&type=section&id=Earnings%20Per%20Share) For the six months ended June 30, 2025, basic and diluted earnings per share were **12.8 HK cents**, down from **15.2 HK cents** in 2024, primarily due to a decrease in profit attributable to owners of the company Earnings Per Share Calculation | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company (HK$ thousand) | 39,743 | 47,407 | | Weighted Average Number of Ordinary Shares in Issue (shares) | 311,640,000 | 311,640,000 | | Basic and Diluted Earnings Per Share | 12.8 HK cents | 15.2 HK cents | [Trade and Other Receivables](index=15&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables significantly decreased to **HK$19,023 thousand** from **HK$33,217 thousand** on December 31, 2024, with trade receivables having credit terms ranging from **30 to 120 days** Details of Trade and Other Receivables | Item | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Receivables | 9,689 | 19,190 | | Bills Receivable | 5,922 | 9,529 | | Other Receivables | 3,412 | 4,498 | | **Total** | **19,023** | **33,217** | Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 4,013 | 14,638 | | 31 – 60 days | 2,284 | 1,537 | | 61 – 90 days | 2,149 | 1,917 | | 91 – 120 days | 1,243 | 1,098 | | **Total** | **9,689** | **19,190** | [Trade and Other Payables](index=16&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables increased to **HK$16,500 thousand** from **HK$13,941 thousand** on December 31, 2024, primarily due to higher trade payables and accrued advertising and promotion expenses Details of Trade and Other Payables | Item | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Payables | 3,586 | 1,444 | | Accrued Expenses and Other Payables | 4,768 | 6,610 | | Accrued Advertising and Promotion Expenses | 6,501 | 5,382 | | Accrued Rebates and Discounts | 1,645 | 505 | | **Total** | **16,500** | **13,941** | Ageing Analysis of Trade Payables | Ageing | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 3,558 | 1,054 | | 31 – 60 days | 11 | 373 | | 61 – 90 days | – | – | | Over 90 days | 17 | 17 | | **Total** | **3,586** | **1,444** | [Share Capital](index=17&type=section&id=Share%20Capital) As of June 30, 2025, the company's authorized share capital and issued and fully paid share capital remained unchanged at **600,000,000 shares (HK$30,000 thousand)** and **311,640,000 shares (HK$15,582 thousand)**, respectively Share Capital Structure | Type | Number of Shares | Amount (HK$ thousand) | | :--- | :--- | :--- | | Authorized Share Capital (HK$0.05 per share) | 600,000,000 | 30,000 | | Issued and Fully Paid Share Capital | 311,640,000 | 15,582 | [Pledge of Assets](index=17&type=section&id=Pledge%20of%20Assets_Notes) The Group's investment properties in the UK are pledged as security for bank facilities, with a carrying value of approximately **HK$113,678 thousand** as of June 30, 2025, and **HK$4,789 thousand** of bank facilities utilized - UK investment properties are pledged as security for bank facilities of **HK$58,103 thousand**, with **HK$4,789 thousand** utilized[28](index=28&type=chunk) Carrying Value of Pledged Assets | Item | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Investment Properties | 113,678 | 102,854 | [Management Discussion and Analysis](index=18&type=section&id=Management%20Discussion%20and%20Analysis) This section provides a comprehensive review of the Group's business performance and financial position, analyzing key operational and financial metrics, and discussing various risk factors and policies [Business Review](index=18&type=section&id=Business%20Review) Amid a cautious global economic environment, the Group's total revenue decreased by **28.5%** year-on-year, primarily due to a weak healthcare segment and reduced treasury investment interest income, with both reported and underlying recurring profits declining, though partially offset by lower investment property fair value losses [Performance Summary](index=18&type=section&id=Performance%20Summary) This section provides an overview of the Group's financial performance, highlighting the impact of global economic uncertainties on revenue and profit - The global economic environment remains cautious, with geopolitical uncertainties and high interest rates continuously impacting borrowing costs, investment activities, and consumer spending patterns[31](index=31&type=chunk) Revenue Changes by Business Segment | Segment | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Healthcare | 86,724 | 123,442 | -29.7 | | Property Investment | 4,748 | 4,752 | – | | Treasury Investment | 3,262 | 4,274 | -23.7 | | **Total** | **94,734** | **132,468** | **-28.5** | Reconciliation of Underlying Recurring Profit to Reported Profit | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Underlying Recurring Profit | 45,294 | 61,710 | -26.6 | | Fair Value Changes of Financial Assets | 1,539 | 481 | | | Fair Value Changes of Investment Properties | (7,090) | (14,784) | | | **Reported Profit** | **39,743** | **47,407** | **-16.2** | [Operational Review - Healthcare](index=20&type=section&id=Operational%20Review%20-%20Healthcare) This section reviews the healthcare segment's performance, detailing revenue and results by region, and strategic initiatives in China and North America Healthcare Segment Revenue and Results by Region | Region | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | Revenue Change (%) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | Results Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | China (including Mainland China, Hong Kong & Macau) | 67,687 | 95,660 | -29.2 | 52,386 (Segment Profit) | 76,974 (Segment Profit) | -31.9 | | Southeast Asia | 17,993 | 24,108 | -25.4 | | | | | North America | 872 | 3,495 | -75.1 | | | | | Other Regions | 172 | 179 | -3.9 | | | | | **Segment Revenue** | **86,724** | **123,442** | **-29.7** | | | | - Sales revenue in Mainland China remained largely stable, with the company expanding its e-commerce initiatives and investing in brand building to enhance online presence[36](index=36&type=chunk) - North American sales were affected by tariff uncertainties, leading the company to adopt a cautious sales strategy, with sales expected to remain stable in the second half[38](index=38&type=chunk) [Operational Review - Property Investment](index=21&type=section&id=Operational%20Review%20-%20Property%20Investment) This section reviews the property investment segment's performance, including revenue and results by region, occupancy rates, and improvements in property expense ratios Property Investment Segment Revenue and Results by Region | Region | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | Revenue Change (%) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | Results Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hong Kong – Office and Residential | 1,591 | 1,723 | -7.7 | (2,978) (Segment Loss) | (10,763) (Segment Loss) | +72.3 | | Singapore – Industrial | 171 | 158 | +8.2 | | | | | United Kingdom – Retail/Residential | 2,986 | 2,871 | +4.0 | | | | | **Segment Revenue** | **4,748** | **4,752** | **–** | | | | - Occupancy rates for investment properties in Hong Kong, Singapore, and the UK were **100.0%**, **100.0%**, and **100.0%**, respectively[39](index=39&type=chunk) - Underlying recurring segment results slightly increased by **2.3%** to **HK$4,100 thousand**, with the property expense ratio decreasing to **13.4%**, reflecting improved management[40](index=40&type=chunk) [Operational Review - Treasury Investment](index=22&type=section&id=Operational%20Review%20-%20Treasury%20Investment) This section reviews the treasury investment segment's performance, noting a decrease in income due to lower bank deposit rates and a reconciliation of underlying recurring segment results to segment profit - Treasury investment segment revenue decreased by **23.7%** to **HK$3,300 thousand**, primarily due to a gradual decline in bank deposit interest rates[42](index=42&type=chunk) Reconciliation of Treasury Investment Underlying Recurring Segment Results to Segment Profit | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Underlying Recurring Segment Results | 5,888 | 3,713 | +58.6 | | Unrealized Fair Value Changes of Financial Assets | 1,539 | 481 | | | **Segment Results – Profit** | **7,427** | **4,194** | **+77.1** | [Financial Review](index=23&type=section&id=Financial%20Review) This section provides a detailed review of key financial and operational aspects, including staff costs, other operating expenses, finance costs, taxation, investment property valuation, financial resources, exchange rate risk, asset pledges, contingent liabilities, future investment plans, and employee and remuneration policies [Staff Costs](index=23&type=section&id=Staff%20Costs) Staff costs increased due to annual salary growth and long service payment provisions, partially offset by reduced executive director management bonus provisions - Staff costs increased by **5.9%** to **HK$22,100 thousand**, primarily reflecting annual salary increments and long service payment provisions, partially offset by reduced executive director management bonus provisions[45](index=45&type=chunk) [Other Operating Expenses](index=23&type=section&id=Other%20Operating%20Expenses) Other operating expenses decreased, mainly due to reduced advertising and promotion expenses, though their ratio to total revenue increased - Other operating expenses decreased by **22.9%** to **HK$10,800 thousand**, primarily due to reduced advertising and promotion expenses[46](index=46&type=chunk) - The ratio of other operating expenses to total revenue increased to **11.4%** (2024: **10.6%**)[46](index=46&type=chunk) [Finance Costs](index=23&type=section&id=Finance%20Costs) Finance costs decreased due to lower interest rates, but the interest coverage ratio declined - Finance costs decreased by **6.4%** to **HK$410 thousand**, reflecting the impact of lower interest rates during the period[47](index=47&type=chunk) - The interest coverage ratio decreased to **131.0 times** (2024: **170.9 times**)[47](index=47&type=chunk) [Taxation](index=23&type=section&id=Taxation_Financial%20Review) Taxation decreased primarily due to a reduction in the overall assessable operating profit of subsidiaries - Taxation decreased from **HK$13,000 thousand** to **HK$8,300 thousand**, primarily due to a reduction in the overall assessable operating profit of subsidiaries[48](index=48&type=chunk) [Investment Properties](index=24&type=section&id=Investment%20Properties) The investment property portfolio valuation slightly increased, influenced by a stronger British Pound and weaker Hong Kong market conditions, while unrealized fair value losses decreased - Investment property portfolio valuation slightly increased by **1.6%** to **HK$230,800 thousand**[49](index=49&type=chunk) - A stronger British Pound boosted the translated value of UK properties, while weak Hong Kong market conditions dragged down local asset values[49](index=49&type=chunk) Investment Property Valuation by Region | Region | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Hong Kong – Office and Residential | 104,390 | 111,480 | -6.4 | | Singapore – Industrial | 12,706 | 12,706 | – | | United Kingdom – Retail/Residential | 113,678 | 102,854 | +10.5 | | **Total** | **230,774** | **227,040** | **+1.6** | - Unrealized fair value losses on investment properties decreased by **52.0%** to **HK$7,100 thousand**[49](index=49&type=chunk) [Financial Resources and Treasury Policy](index=24&type=section&id=Financial%20Resources%20and%20Treasury%20Policy) This section outlines the Group's capital gearing ratio and liquidity ratio, reflecting its financial leverage and short-term solvency - Capital gearing ratio was **0.7%** (December 31, 2024: **0.6%**)[50](index=50&type=chunk) - Current ratio decreased to **6.5 times** (December 31, 2024: **16.2 times**)[50](index=50&type=chunk) [Exchange Rate Risk](index=25&type=section&id=Exchange%20Rate%20Risk) The Group faces foreign exchange risk from overseas securities investments, bank balances, and UK investment properties - Foreign exchange risk related to overseas securities investments and bank balances totaled approximately **HK$70,200 thousand**, representing about **8.2%** of the Group's total assets[51](index=51&type=chunk) - There is approximately **HK$108,900 thousand** of foreign exchange risk from the carrying value of investment properties in the UK[51](index=51&type=chunk) [Pledge of Assets](index=25&type=section&id=Pledge%20of%20Assets_Financial%20Review) UK investment properties with a significant carrying value are pledged as security for bank facilities - UK investment properties with a total carrying value of approximately **HK$113,700 thousand** are pledged as security for bank facilities of approximately **HK$58,100 thousand**[52](index=52&type=chunk) [Contingent Liabilities](index=25&type=section&id=Contingent%20Liabilities) As of the reporting date, the Group has no significant legal proceedings or claims that could result in material financial loss - As of June 30, 2025, there were no legal proceedings initiated by any third party against the Group, nor any pending claims that could result in significant financial loss to the Group[53](index=53&type=chunk) [Plans for Future Material Investments or Acquisitions of Capital Assets](index=25&type=section&id=Plans%20for%20Future%20Material%20Investments%20or%20Acquisitions%20of%20Capital%20Assets) The Group currently has no plans for any material investments or acquisitions of significant capital assets - The Group has no plans for any material investments or acquisitions of significant capital assets[54](index=54&type=chunk) [Employees and Remuneration Policy](index=25&type=section&id=Employees%20and%20Remuneration%20Policy) The Group had **100 employees** as of June 30, 2025, with remuneration reviewed annually based on market conditions and individual performance, including medical and education allowances - As of June 30, 2025, the Group had **100 employees** (December 31, 2024: **106 employees**)[55](index=55&type=chunk) - The Group annually reviews and determines employee and director remuneration packages based on market conditions and individual performance, providing medical and education allowances[55](index=55&type=chunk) [Outlook](index=26&type=section&id=Outlook) The Group maintains a cautious outlook for the second half of 2025 due to global uncertainties, anticipates challenges in healthcare, expects stable property contributions from the UK and Singapore, and will continue prudent treasury management - For the second half of 2025, the Group maintains a cautious outlook due to ongoing global uncertainties, interest rate impacts, and prudent consumer confidence in the operating environment[56](index=56&type=chunk) - The healthcare segment is expected to continue facing challenges in China, with the Group accelerating e-commerce initiatives and digital marketing to capture new demand[56](index=56&type=chunk) - The Hong Kong property market may remain under pressure, while UK and Singapore properties are expected to continue providing stable contributions[56](index=56&type=chunk) - The Group will continue to optimize returns through prudent treasury management, maintain a diversified investment portfolio, and prioritize capital preservation[56](index=56&type=chunk) [Other Information](index=26&type=section&id=Other%20Information) This section covers various other information, including interim dividend declarations, share transfer arrangements, securities transactions, corporate governance practices, and the composition of the Board and Audit Committee [Interim Dividends](index=26&type=section&id=Interim%20Dividends_Other%20Information) The Board declared an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share for the six months ended June 30, 2025, payable to shareholders on December 5, 2025 - The Directors resolved to declare an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share for the six months ended June 30, 2025, payable to shareholders registered on October 6, 2025[57](index=57&type=chunk) - The interim dividend and special interim dividend will be dispatched to shareholders on December 5, 2025[57](index=57&type=chunk) [Closure of Register of Members](index=26&type=section&id=Closure%20of%20Register%20of%20Members) To qualify for the interim dividends, the company's share transfer registration will be suspended from October 2 to October 6, 2025, with all transfer forms to be lodged by 4:30 p.m. on September 30, 2025 - The company's register of members will be closed from Thursday, October 2, 2025, to Monday, October 6, 2025 (both days inclusive)[58](index=58&type=chunk) - To qualify for the interim dividend and special interim dividend, all duly completed transfer forms, together with the relevant share certificates, must be lodged by 4:30 p.m. on Tuesday, September 30, 2025[58](index=58&type=chunk) [Arrangements for Purchase of Shares or Debentures](index=26&type=section&id=Arrangements%20for%20Purchase%20of%20Shares%20or%20Debentures) During the period, neither the company nor its subsidiaries entered into any arrangements enabling directors to acquire benefits by purchasing shares or debentures of the company or any other body corporate - At no time during the period did the company or any of its subsidiaries enter into any arrangements that would enable the directors of the company to acquire benefits by means of the purchase of shares or debentures of the company or any other body corporate[59](index=59&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=27&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed shares - During the period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed shares[60](index=60&type=chunk) [Corporate Governance](index=27&type=section&id=Corporate%20Governance) The company adopted the Corporate Governance Code in Appendix C1 of the Listing Rules, and while the Chairman and Chief Executive roles are held by the same individual, the Board believes sufficient balance of power and safeguards are in place and will be regularly reviewed - The company adopted the Corporate Governance Code set out in Appendix C1 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as its own corporate governance code[61](index=61&type=chunk) - The roles of Chairman and Chief Executive Officer are performed by the same individual, but the Board believes there is sufficient balance of power and safeguards, which will be regularly reviewed and monitored[61](index=61&type=chunk) [Standard Code for Securities Transactions by Directors](index=27&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers in Appendix C3 of the Listing Rules and confirmed that all directors complied with it during the period - The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules as its own code of conduct regarding directors' securities transactions[62](index=62&type=chunk) - Following specific enquiries made to all directors, the directors have confirmed that they complied with the standards set out in the Model Code for the six months ended June 30, 2025[62](index=62&type=chunk) [Audit Committee](index=27&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviewed the company's interim financial information, which was also reviewed by the auditor, RSM Hong Kong, and an unmodified report was issued - The company's Audit Committee comprises three independent non-executive directors and meets at least twice a year[63](index=63&type=chunk) - The Audit Committee has reviewed the company's interim financial information for the six months ended June 30, 2025, which was also reviewed by the company's auditor, RSM Hong Kong, and an unmodified review report was issued[63](index=63&type=chunk) [Board of Directors](index=28&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors comprises three executive directors, one non-executive director, and three independent non-executive directors - As of the announcement date, the company's Board of Directors includes: (i) three executive directors, Mr. Ngan Wai Shun, Mr. Ngan Fook Wah, and Mr. Ngan Ching Fai; (ii) one non-executive director, Ms. Ngan Fook Yin; and (iii) three independent non-executive directors, Mr. Leung Man Chiu, Mr. Dell'Orto Renato, and Mr. Chan Chi Chung[64](index=64&type=chunk)

Group 1 - The company, White Flower Oil (00239.HK), announced that its board of directors will hold a meeting on August 21, 2025, to approve the interim results for the six months ending June 30, 2025 [1] - The meeting will also consider the distribution of an interim dividend, if any [1]

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的任何損失承擔任何責任。 香港，二零二五年八月十一日 白花油國際有限公司 主席 顏為善 敬啓 PAK FAH YEOW INTERNATIONAL LIMITED 白花油國際有限公司* （於百慕達註冊成立之有限公司） (股份代號: 239) 董事會會議日期 白花油國際有限公司 (「本公司」) 之董事會 (「董事會」) 謹 此公佈，本公司董事會將於二零二五年八月二十一日（星期四） 舉行董事會會議，藉以批准（其中包括）本公司及其附屬公司 截至二零二五年六月三十日止六個月之中期業績，及考慮派發 中期股息（如有）。 於本公告發表日期，董事會成員包括 (i) 三名執行董事顏為善先生、顏福偉先生 及顏清輝先生； (ii) 一名非執行董事顏福燕女士； 及(iii) 三名獨立非執行董事 梁文釗先生、 Dell'Orto Renato 先生及陳志冲先生。 *僅供識別 ...

Group 1 - The article provides a list of companies involved in various financial activities such as earnings announcements, shareholder meetings, and new stock activities [2][3] - Several companies are mentioned for their dividend distribution dates, indicating their financial performance and shareholder returns [2][3] - The document highlights companies undergoing stock repurchases and capital increases, which may signal their financial strategies and market positioning [3] Group 2 - The article includes a list of companies that are currently in the process of IPOs, reflecting market interest and potential investment opportunities [2] - Companies like Silver Noble Pharmaceuticals and others are noted for their ongoing stock activities, which may attract investor attention [2] - The document also mentions companies that are resuming trading, indicating a potential recovery or change in market conditions [2]