Core Viewpoint - The recent rumors regarding the photovoltaic industry, particularly the claim that the industry's storage initiative has failed, have been officially denied by JinkoSolar, which stated that such information is misleading and damaging to the company's and industry's reputation [1][3][5]. Group 1: Company Response - JinkoSolar's board secretary has not made any statements in internal or external meetings regarding the rumors circulating online, which the company categorizes as false information [1]. - JinkoSolar reserves the right to pursue legal action against those spreading false information [5]. Group 2: Market Reaction - Following the rumors, shares of photovoltaic and energy storage companies experienced significant declines, with Tongwei Co. hitting the daily limit down, and other companies like Canadian Solar and Aiko Energy dropping over 10% [1]. - JinkoSolar's stock closed at 14.03 yuan per share, reflecting a decrease of 6.84%, with a total market capitalization of 46.43 billion yuan [5]. Group 3: Industry Association's Position - The China Photovoltaic Industry Association has urged the public not to believe or spread rumors, emphasizing their commitment to industry self-regulation and efforts to combat "involution" [3]. - The association confirmed that the rumors circulating are untrue and that they are working steadily with industry enterprises to promote market-oriented and legal measures [3].

Core Viewpoint - JinkoSolar issued a clarification statement denying that its board secretary made any comments regarding the photovoltaic industry's storage plans, labeling the circulating information as false and damaging to the company's reputation [1][5]. Group 1: Company Response - JinkoSolar announced that its board secretary did not make any statements at internal or external meetings, and the rumors are misleading [1]. - The company reserves the right to pursue legal action against those spreading false information [5]. Group 2: Market Impact - Following the rumors, shares of JinkoSolar fell by 6.84%, closing at 14.03 CNY per share, with a total market capitalization of 46.43 billion CNY [5][6]. - Other companies in the photovoltaic and energy storage sectors also experienced significant declines, with Tongwei Co. hitting the daily limit down and others like Canadian Solar and Aiko Energy dropping over 10% [1]. Group 3: Industry Association's Position - The China Photovoltaic Industry Association urged the public not to believe or spread rumors, emphasizing their commitment to industry self-regulation and efforts to combat "involution" [3]. - The association stated that they are working with various enterprises to promote market-oriented and legal approaches to industry challenges [3].

Core Viewpoint - The photovoltaic sector experienced significant volatility on November 12 due to rumors regarding silicon material storage and the establishment of an alliance for photovoltaic silicon materials and components, which were later denied by JA Solar Technology [2][4]. Group 1: Company Responses - JA Solar Technology issued a clarification statement denying any involvement in the rumored discussions about silicon material storage, emphasizing that the circulated information was false and misleading [2]. - The company warned that it reserves the right to pursue legal action against those spreading false information and urged investors and the public to rely on official channels for accurate information [2]. - The company reiterated its commitment to comply with legal disclosure obligations and encouraged rational investment decisions among investors [2]. Group 2: Industry Context - The concept of a storage platform and silicon material alliance refers to a consolidation plan for polysilicon production capacity, aimed at controlling production by acquiring smaller producers and ceasing their operations to stabilize prices [4]. - The China Photovoltaic Industry Association stated its efforts to promote industry self-regulation and combat "involution" in the market, emphasizing the importance of coordinated efforts from the industry and government [4]. - A representative from Tongwei Co., another leading photovoltaic company, expressed strong support for the "anti-involution" initiative, indicating confidence in the gradual implementation of related policies [4].

Group 1 - The core viewpoint of the article is that JinkoSolar has issued a clarification statement denying rumors about its Secretary of the Board making negative comments regarding the photovoltaic industry's storage plans, which were deemed misleading and damaging to the company's reputation [2][5]. - On November 12, rumors circulated that the Secretary of the Board stated during a monthly meeting that the photovoltaic industry's storage initiative had "failed," leading to a significant market reaction with declines in various solar and energy storage stocks [2][5]. - Following the rumors, JinkoSolar's stock price fell by 6.84% to 14.03 CNY per share, resulting in a total market capitalization of 46.43 billion CNY [7]. Group 2 - The China Photovoltaic Industry Association has also responded to the rumors, urging the public not to believe or spread false information, and reaffirming its commitment to promoting industry self-discipline and market-driven initiatives [5]. - JinkoSolar has reserved the right to pursue legal action against those spreading false information, emphasizing its core business in solar photovoltaic products and energy storage systems [7].

Core Viewpoint - The photovoltaic sector experienced significant volatility on November 12 due to rumors regarding silicon material storage and the establishment of an alliance for photovoltaic silicon materials and components, which were later denied by JA Solar Technology [1] Group 1: Company Responses - JA Solar Technology issued a clarification on November 12, stating that the rumors circulating online were false and misleading, damaging the company's and industry's reputation [1] - The company emphasized that its board secretary did not make any statements regarding the rumored silicon material storage during any meetings, and it reserves the right to pursue legal action against the spread of false information [1] - JA Solar urged investors and the public to rely on official channels for accurate information and to avoid spreading rumors [1] Group 2: Market Reactions - Following the rumors, the photovoltaic sector saw a collective decline, with the photovoltaic ETF dropping over 5%, and leading stocks such as Tongwei Co., Longi Green Energy, and JA Solar approaching their daily limit down [1] - The so-called storage platform and silicon material alliance refer to a consolidation plan for polysilicon production capacity that leading manufacturers have been promoting for the past six months [2] - The industry believes that controlling upstream production is essential for the mid and downstream sectors of the photovoltaic supply chain to overcome current challenges [2] Group 3: Industry Association Statements - The China Photovoltaic Industry Association stated on the afternoon of November 12 that it is working to promote industry self-regulation and "anti-involution" efforts with the guidance of relevant government departments [3] - The association expressed confidence that, with strong support from the central government and cooperation from industry players, the related initiatives will be successfully implemented [3] - Tongwei Co. also expressed its support for the photovoltaic "anti-involution" initiative, believing that relevant policies will gradually be implemented [3]

II. 已發行股份及/或庫存股份變動 | 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) | 00245 | 說明 | | 中薇金融 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,859,097,962 | | | | | 1,859,097,962 | | 增加 / 減少 (-) | | | | 0 | | | | | | 本月底結存 | | | 1,859,097,962 | | | 0 | | 1,859,097,962 | 第 2 頁 共 10 頁 v 1.1.1 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10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: 中薇金融控股有限公司 (於香港註冊成立之有限公司) 呈交日期: ...

FF301 第 1 頁 共 10 頁 v 1.1.1 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: 中薇金融控股有限公司 (於香港註冊成立之有限公司) 呈交日期: 2025年10月3日 I. 法定/註冊股本變動 不適用 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 00245 | 說明 | | 中薇金融 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,859,097,962 | | | | | 1,859,097,962 | | 增加 / 減少 (-) | | | | 0 | | | | | | 本月底結存 | | | 1, ...

China Vered Financial Holding Corporation Limited 中薇金融控股有限公司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock Code：245) (股份代號:245) Dear Non-Registered Shareholder (1), 30 September 2025 China Vered Financial Holding Corporation Limited (the "Company") – Notification of publication of Interim Report 2025 ("Current Corporate Communications") on the Company's website The Current Corporate Communication of the Company, in both English and Chinese versions, is available on the websites of ...

Financial Performance - In the first half of 2025, the company's business development remained stable, with a solid financial foundation and a positive growth trend despite a complex external environment[6]. - The group's total unaudited consolidated revenue for the six months ended June 30, 2025, was approximately HKD 78,846,000, representing a 54% increase compared to HKD 51,053,000 for the same period in 2024[14]. - Investment income surged by 309% to approximately HKD 39,442,000 for the six months ended June 30, 2025, compared to HKD 9,643,000 for the same period in 2024[15]. - The group recorded a profit of approximately HKD 742,331,000 for the six months ended June 30, 2025, a turnaround from a loss of approximately HKD 20,585,000 for the same period in 2024[16]. - Basic and diluted earnings per share for the company owners were HKD 39.96, compared to a loss of HKD 1.24 per share in the previous year[55]. - The total comprehensive income for the period was HKD 753,123,000, compared to a loss of HKD 68,926,000 in the same period last year[56]. - The company reported a total tax expense of HKD 130,144,000 for the six months ended June 30, 2025, compared to HKD 10,494,000 in 2024, reflecting a substantial increase due to higher profits[98]. Asset Management and Investments - The investment holding segment generated revenue of approximately HKD 902,000,000 and profit of approximately HKD 890,400,000 for the six months ended June 30, 2025, compared to HKD 184,700,000 and HKD 145,700,000 respectively for the same period in 2024[19]. - The asset management business established dynamic asset evaluation and exit mechanisms, enhancing capital allocation efficiency and increasing the scale of high-quality liquid asset allocations[7]. - The group aims to enhance shareholder returns by diversifying its investment portfolio, including listed equity securities, debt securities, and private equity investments[12]. - The fair value of financial assets measured at fair value through profit or loss increased significantly to HKD 2,678,501 thousand from HKD 664,944 thousand[57]. - The total fair value of financial assets as of June 30, 2025, totaled HKD 4,788,030,000, with HKD 2,589,473,000 in listed equity investments[78]. Financial Position and Liquidity - Total assets as of June 30, 2025, were approximately HKD 5,585,441,000, an increase of about 18% from HKD 4,729,696,000 as of December 31, 2024[20]. - The current ratio as of June 30, 2025, was approximately 758.4%, compared to 414.1% as of December 31, 2024, indicating a strong financial position[23]. - The group had no interest-bearing borrowings as of June 30, 2025, maintaining a debt-to-equity ratio of 0%[25]. - The company reported a net cash outflow from operating activities of HKD 44,494,000 for the six months ended June 30, 2025, compared to HKD 97,784,000 for the same period in 2024, indicating a significant improvement[61]. - The total cash and cash equivalents decreased by HKD 45,643,000 during the period, with an ending balance of HKD 388,346,000 as of June 30, 2025, down from HKD 550,847,000 a year earlier[62]. Risk Management and Credit Losses - The group will continue to monitor market conditions closely and implement strict risk control measures to mitigate the impact of market volatility on its investments[13]. - The expected credit loss provision for receivables and interest as of June 30, 2025, was HKD 268,617,000, compared to HKD 263,544,000 as of December 31, 2024[73]. - The expected credit losses recognized in profit or loss for the six months ended June 30, 2025, amounted to HKD 7,424,000, compared to HKD 54,368,000 in 2024, indicating a significant reduction[100]. - The group reported a significant increase in credit risk for third-stage receivables, with HKD 384,007,000 classified as credit-impaired as of June 30, 2025[73]. Shareholder Information - Major shareholders include Qiangwei Holdings Limited, holding 10,043,000,000 shares, representing 27.01% of the issued share capital[41]. - Liu Xueyi holds 5,034,511,390 shares, accounting for 13.54% of the issued share capital[41]. - The company has not disclosed any other significant changes in director information since the last annual report[40]. - The company did not declare any interim dividend for the six months ended June 30, 2025, consistent with the previous year[102]. Corporate Governance - The company has adhered to the corporate governance code throughout the review period, ensuring compliance with high governance standards[47]. - The group has not made any significant changes to its risk management policies since the last reporting date[72].

Market Overview - The A-share market opened lower on September 26, with the Shanghai Composite Index down 0.26%, the Shenzhen Component down 0.39%, and the ChiNext Index down 0.35% [1] - The automotive sector showed strength, while the pharmaceutical sector experienced significant declines [1] Automotive Sector - Automotive stocks experienced a strong upward trend, with companies like Seres (赛力斯) hitting the daily limit and reaching a historical high [4] - Other automotive stocks such as Shuguang Co. (曙光股份), Qianli Technology (千里科技), BYD (比亚迪), and Dongfeng Motor (东风股份) also saw gains [4] - Seres announced plans to issue up to 331 million overseas listed foreign shares (H-shares), which received approval from the China Securities Regulatory Commission [6] Pharmaceutical Sector - The pharmaceutical sector faced a downturn, with stocks like Sunflower (向日葵) dropping over 13% and Aosaikang (奥赛康) hitting the daily limit down [7] - Other notable declines included Guangshengtang (广生堂) and Jimin Health (济民健康), both falling over 7% [7] - A significant factor affecting the pharmaceutical sector is the announcement by former President Trump regarding a 100% tariff on any branded or patented drugs unless companies establish manufacturing in the U.S. [9]