（於香港註冊成立之有限公司） （股份代號：308） 選擇公司通訊之語言版本及收取方式 各位股東： 選擇公司通訊之語言版本及收取方式 本公司欣然附上本公司之2025年中期報告。 根據《香港聯合交易所有限公司證券上市規則》及香港中旅國際投資有限公司（「本公司」）的《公司組織章程細則》，本公司可(i)以 中文及╱或英文製備的印刷本；或(ii)以電子方式透過本公司網站(www.irasia.com/listco/hk/ctii)向股東提供公司通訊（附註）（「網上 版本」）。 閣下可於任何時間向股份過戶登記處發出不少於七天的書面通知，或電郵至is-ecom@vistra.com，以更改日後公司通訊之語言 版本及╱或收取方式之選擇。若 閣下選擇（或被視為已同意）收取日後公司通訊之網上版本，如因任何理由難以透過本公司網 站瀏覽公司通訊，可以書面向股份過戶登記處提出要求，即可獲免費發送所要求之公司通訊印刷本。 請注意：(a) 閣下可提出要求向本公司或股份過戶登記處索取所有日後公司通訊之中英文印刷本；而(b)所有日後公司通訊之 中英文網上版本亦會在本公司網站(www.irasia.com/listco/hk/ctii)及香港交 ...

(Incorporated in Hong Kong with limited liability) (Stock Code: 308) NOTIFICATION LETTER Dear Shareholder(s), 16 September 2025 China Travel International Investment Hong Kong Limited (the "Company") You are entitled at any time by giving at least a 7-day notice in writing to the Share Registrar (by post to 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong or by email at is-ecom@vistra.com) to change your choice of language and means of receiving Corporate Communications. If you have elected (or ar ...

NOTIFICATION LETTER Dear Non-registered holder(1), (Incorporated in Hong Kong with limited liability) (Stock Code: 308) 16 September 2025 China Travel International Investment Hong Kong Limited (the "Company") Notice of Publication of 2025 Interim Report The English and Chinese versions of the 2025 Interim Report of the Company (the "Interim Report") are available on the website of the Company at www.irasia.com/listco/hk/ctii and that of Hong Kong Exchanges and Clearing Limited ("HKEx") at www.hkexnews.hk. ...

Company Information The company reports changes in its board of directors and audit/remuneration committee chairpersons - Changes in board members occurred: Mr. Tao Xiaobin, Mr. Xie Zhichi, Mr. Zhang Xiaoke, Mr. Huang Hui, and Mr. Chen Zhihong resigned on August 20, 2025, and Mr. Qian Jiannong was appointed as an independent non-executive director on the same day[5](index=5&type=chunk) - Audit Committee Chairman changed from Mr. Chen Zhihong to Ms. Fang Xuan, and Remuneration Committee Chairman also changed from Mr. Chen Zhihong to Ms. Fang Xuan, both effective August 20, 2025[5](index=5&type=chunk) Financial Calendar and Shareholder Information This section provides key financial dates, dividend distribution details, and information on issued shares - Interim results announcement date is **August 28, 2025**[7](index=7&type=chunk) Dividend Distribution Status | Period | Dividend | | :--- | :--- | | 2025 Interim | None | | 2024 Final | None | | 2024 Interim | **HK 1.5 cents** per share to be distributed on October 15, 2024 | | 2023 Final | **HK 1 cent** per share distributed on June 20, 2024 | - As of June 30, 2025, the company's issued shares are **5,536,633,709 shares**[9](index=9&type=chunk) Interim Results The group's interim financial performance for the six months ended June 30, 2025, shows a shift from profit to loss, with detailed financial statements and notes [Review Report on Interim Financial Information](index=5&type=section&id=%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E4%B9%8B%E5%AF%A9%E9%96%B1%E5%A0%B1%E5%91%8A) Ernst & Young has reviewed the interim financial information for the six months ended June 30, 2025, and found no matters that lead them to believe the interim financial information is not prepared in all material respects in accordance with Hong Kong Accounting Standard 34 - Reviewing institution is **Ernst & Young**[11](index=11&type=chunk) - Review conclusion is that no matters were found indicating the interim financial information was not prepared in all material respects in accordance with Hong Kong Accounting Standard 34[13](index=13&type=chunk) [Condensed Consolidated Statement of Profit or Loss](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E6%90%8D%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the Group turned from profit to loss, with revenue decreased year-on-year by **7.64%**, pre-tax loss of **HKD 8 million**, and loss attributable to shareholders of **HKD 86.853 million**, primarily due to expanded fair value loss on investment properties and increased administrative expenses Condensed Consolidated Statement of Profit or Loss Key Data (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 1,973,653 | 2,136,982 | (163,329) | **-7.64%** | | Gross Profit | 533,328 | 610,739 | (77,411) | **-12.67%** | | Operating (Loss)/Profit | (43,832) | 117,553 | (161,385) | **-137.29%** | | Pre-tax (Loss)/Profit | (7,807) | 165,230 | (173,037) | **-104.72%** | | (Loss)/Profit for the Period | (74,760) | 100,387 | (175,147) | **-174.47%** | | (Loss)/Profit attributable to Owners of the Company | (86,853) | 63,230 | (150,083) | **-237.36%** | | Basic and Diluted (Loss)/Earnings Per Share (HK cents) | (**1.57**) | **1.14** | (**2.71**) | **-237.72%** | - Fair value loss on investment properties expanded from **HKD 99.045 million** in the first half of 2024 to **HKD 123.328 million** in the first half of 2025[15](index=15&type=chunk) - Administrative expenses increased from **HKD 353.56 million** in the first half of 2024 to **HKD 405.18 million** in the first half of 2025[15](index=15&type=chunk) [Condensed Consolidated Statement of Comprehensive Income](index=7&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the Group's total comprehensive income turned from loss of **HKD 1.934 million** in the same period of 2024 to gain of **HKD 163.934 million**, primarily due to net exchange differences on translation of overseas operations turning into a positive gain Condensed Consolidated Statement of Comprehensive Income Key Data (For the six months ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change (HKD Thousand) | | :--- | :--- | :--- | :--- | | (Loss)/Profit for the Period | (74,760) | 100,387 | (175,147) | | Other Comprehensive Income/(Loss) for the Period, Net of Tax | 238,694 | (102,321) | 341,015 | | Total Comprehensive Income/(Loss) for the Period | 163,934 | (1,934) | 165,868 | - Net exchange differences on translation of overseas operations turned from loss of **HKD 95.522 million** in the first half of 2024 to gain of **HKD 227.708 million** in the first half of 2025[19](index=19&type=chunk) [Condensed Consolidated Statement of Financial Position](index=8&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the Group's total assets increased by **2.66%** to **HKD 25.184 billion**, total equity increased by **1.54%** to **HKD 18.411 billion**, and total liabilities increased by **5.82%** to **HKD 6.772 billion**, with cash and bank balances significantly increased by **16.75%** Condensed Consolidated Statement of Financial Position Key Data (As of June 30) | Metric | June 30, 2025 (HKD Thousand) | December 31, 2024 (HKD Thousand) | Change (HKD Thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total Assets | 25,184,477 | 24,531,934 | 652,543 | **2.66%** | | Total Equity | 18,411,665 | 18,131,893 | 279,772 | **1.54%** | | Total Liabilities | 6,772,812 | 6,400,041 | 372,771 | **5.82%** | | Cash and Bank Balances | 2,853,580 | 2,444,190 | 409,390 | **16.75%** | | Bank and Other Borrowings (Total) | 1,371,405 | 1,031,953 | 339,452 | **32.90%** | - Total non-current assets increased to **HKD 16.619862 billion**, primarily due to increased prepaid lease payments for land[21](index=21&type=chunk) - Total current liabilities increased to **HKD 4.270985 billion**, primarily due to increased bank and other borrowings[23](index=23&type=chunk) [Condensed Consolidated Statement of Changes in Equity](index=10&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) As of June 30, 2025, the Group's total equity increased to **HKD 18.411665 billion**, driven primarily by other comprehensive income (especially exchange differences) and non-controlling interests' contributions, despite recording a loss attributable to shareholders for the period Condensed Consolidated Statement of Changes in Equity Key Data (As of June 30) | Metric | January 1, 2025 (HK

Group 1 - The upcoming "Golden Week" during the National Day and Mid-Autumn Festival will last for 8 days, leading to a surge in travel bookings, with some popular routes already sold out [1] - Consumers are planning their trips earlier than in previous years, with a preference for domestic long-distance travel products, and a diverse range of travel experiences such as deep experience tours and cultural exploration tours are emerging to meet varied consumer demands [1] - The United Nations World Tourism Organization forecasts a 5% year-on-year increase in global international tourist arrivals in the first half of 2025, with approximately 690 million outbound trips recorded in the first half of this year, an increase of about 33 million compared to the same period last year [1] Group 2 - Morgan Stanley projects that China's inbound tourism retail market will grow over threefold in the next decade, from $14 billion in 2024 to $60 billion by 2034, increasing its share of the overall tourism retail market from 10% to 25% [2] - The rise of globally recognized brands and improved shopping experiences are key drivers for this growth, with Chinese consumer electronics and brands like Pop Mart attracting tourists and stimulating shopping demand [2] - Policy support is expected to enhance duty-free and tax refund shopping, benefiting domestic retailers, shopping centers, and duty-free operators [2] Group 3 - Relevant Hong Kong-listed travel-related stocks include online travel agencies like Trip.com Group and Tongcheng Travel, as well as companies in the tourism supply chain such as Macau sector stocks, China Travel International Investment Hong Kong, and China Duty Free Group [3]

Group 1 - The upcoming "Golden Week" during the National Day and Mid-Autumn Festival is expected to see a surge in travel bookings, with some popular products already sold out [1] - Consumers are planning their trips earlier than in previous years, showing a preference for domestic long-distance travel products, and a diverse range of travel experiences is emerging to meet varied consumer demands [1] - The United Nations World Tourism Organization forecasts a 5% increase in global international tourist arrivals in the first half of 2025, with a total of approximately 690 million outbound trips recorded in the first half of this year, marking an increase of about 33 million compared to last year [1] Group 2 - Morgan Stanley projects that China's inbound tourism retail market will grow over threefold in the next decade, from $14 billion in 2024 to $60 billion by 2034, increasing its share of the overall tourism retail market from 10% to 25% [2] - The rise of globally recognized brands and improved shopping experiences are key drivers for this growth, with Chinese consumer electronics and brands like Pop Mart attracting tourists and stimulating shopping demand [2] - Domestic retailers, shopping centers, and duty-free operators in China are expected to benefit significantly from policy support aimed at enhancing tax-free and refund shopping experiences [2] Group 3 - Relevant Hong Kong stocks in the tourism sector include online travel agencies like Trip.com Group and Tongcheng Travel, as well as companies in the tourism industry chain such as Macau-related stocks, China International Travel Service, and Huazhu Group [3]

9月5日，买方大佬凌鹏就市场预测中际旭创（300308）2027年的利润预测超过250亿而进行点评，他灵魂发问一个零部件制造业公 司可以达到这么高的年利润，并质疑线性外推的合理性。 而随着凌鹏质疑中际旭创2027年利润250亿的预测，国盛通信某分析师直接在朋友圈怒怼："买你的白酒去吧，老登。" （文章来源：第一财经） 9月8日周一开盘，高位算力硬件股持续下挫，截至发稿，中际旭创、新易盛（300502）跌超10%，胜宏科技（300476）跌近10%， 寒武纪（688256）跌超6%，生益电子（688183）、天孚通信（300394）跌幅居前。 这不禁让人想到2021年夏天的"你算老几"事件。彼时方正证券科技与电子首席分析师陈杭因向疑似为中芯国际光刻胶技术负责人的 杨晓松直言"你算老几"，彼时正是半导体行业行情火热之际。就在上述事件发生后的周一开盘，2021年8月2日，市场风格突然暴力 切换，基建、白酒大反攻，而之前狂奔猛进的半导体熄火。芯片ETF逆市大跌2.11%，盘中最大跌幅接近5%。 对于当下的后市展望，某公募基金经理接受第一财经采访时表示，像光模块，现在基本对应明年将近20倍的估值，如果想要继续涨 的话， ...

2025.09.08 本文字数：801，阅读时长大约1.5分钟 作者 | 第一财经 王媛丽 而随着凌鹏质疑中际旭创2027年利润250亿的预测，国盛通信某分析师直接在朋友圈怒怼："买你的白酒 去吧，老登。" 封图 | AI生成 9月5日，买方大佬凌鹏就市场预测中际旭创（300308）2027年的利润预测超过250亿而进行点评，他灵 魂发问一个零部件制造业公司可以达到这么高的年利润，并质疑线性外推的合理性。 同时上述基金经理还表示，整体来看，市场虽然有波动，部分板块过热调整，甚至调整幅度比较大，但 整体还是在牛市的氛围当中。但是确实有些板块涨得过快过高，这种风险也是要规避的，所以还是要尽 量去做一些高抛低吸的交易。像固态电池、机器人涨了之后，可能后面其他的主题，比如说医药类脑机 接口，包括核聚变这些，如果都有催化的话会有不错的弹性。 这不禁让人想到2021年夏天的"你算老几"事件。彼时方正证券科技与电子首席分析师陈杭因向疑似为中 芯国际光刻胶技术负责人的杨晓松直言"你算老几"，彼时正是半导体行业行情火热之际。就在上述事件 发生后的周一开盘，2021年8月2日，市场风格突然暴力切换，基建、白酒大反攻，而之前狂奔猛 ...

Core Viewpoint - Hong Kong Travel (00308) has seen a significant stock price increase following the announcement of acquisitions related to the Jilin Songhua Lake International Resort and Beijing Wanbingxue Sports Co., Ltd. [1] Group 1: Acquisitions - Hong Kong Travel, in collaboration with China Travel Capital and Jilin Province Travel Control Group, has acquired 75% stakes in both Jilin Songhua Lake International Resort Development Co., Ltd. and Beijing Wanbingxue Sports Co., Ltd. from Vanke Group [1] - The completion of the acquisition is expected in the second half of 2025, with projected annual visitor numbers exceeding 350,000 and revenues surpassing 300 million yuan during the stabilization period [1] Group 2: Financial Performance - The company reported a stock price increase of over 13%, settling at 1.58 HKD with a trading volume of 310 million HKD [1] - Citigroup noted improvements in operational and business development quality, with enhanced hotel performance and stable transportation and travel document services, which offset losses from investment property fair value and theme park impairments [1] Group 3: Strategic Focus - The company is focusing on four major natural and cultural tourism destinations: Ningxia, Yunnan, Xinjiang, and Guangxi, aiming to build brand benchmarks through a balanced approach [1]

Group 1 - Hong Kong Travel (00308) saw a stock price increase of over 13%, closing up 8.22% at HKD 1.58, with a trading volume of HKD 310 million [1] - Hong Kong Travel International announced the acquisition of 75% stakes in Jilin Songhua Lake International Resort Development Co., Ltd. and Beijing Wanbingxue Sports Co., Ltd. from Vanke Group, in collaboration with China Travel Capital and Jilin Province Travel Control Group [1] - The project is expected to have an annual visitor volume exceeding 350,000 and generate over HKD 300 million in revenue, contributing to incremental profits for the company [1] Group 2 - The completion of the acquisition is anticipated in the second half of 2025, according to CICC [1] - Citigroup noted improvements in the company's operational and business development quality, with enhanced hotel performance and stable transportation and travel document services, offsetting losses from investment property fair value and theme park impairments [1]