PAX GLOBAL TECHNOLOGY LIMITED 百富環球科技有限公 司* （於百慕達註冊成立之有限公司） （股份代號：327） （「本公司」） 提名委員會 職權範圍 前言 以下為本公司提名委員會（「委員會」）的職權範圍，該職權範圍乃本公司董事（「董 事」）會（「董事會」）為遵照香港聯合交易所有限公司證券上市規則（「上市規則」）項下 企業管治守則而不時修訂及批准。 成員及秘書 1. 組成 ： 委員會須至少由3名成員（「成員」）組成，至少一名成員為不同 性別。 委員會的成員由董事會從非執行董事中委任，其中過半數必 須是獨立非執行董事（「獨立非執行董事」）。 * 僅供識別 1 2. 主席 ： 委員會主席由董事會委任，亦必須是獨立非執行董事。 3. 秘書 ： 公司秘書或（如公司秘書沒有出席）其代表將擔任委員會秘 書。委員會可不時委任任何其他具有適當資格及經驗的人擔 任委員會秘書。 權限 7. (i) 至少每年檢討董事會的結構、人數及組成（包括技能、知識及經驗方面）、 協助董事會維持董事會技能表，並就任何為配合本公司策略而擬對董事會 作出的變動提出建議； (ii) 物色具備合適資格可擔任董事的人士，並挑選提 ...

PAX GLOBAL TECHNOLOGY LIMITED 百富環球科技有限公 司* （於百慕達註冊成立之有限公司） 委員會之成員須由董事會從非執行董事中委任，大部分須 為獨立非執行董事（「獨立非執行董事」）。 至少一名獨立非執行董事須具備上市規則第3.10(2)條所規 定之適當專業資格或會計或相關財務管理專長。 本公司現任核數公司之前任合夥人自(a)其不再為該公司之 合夥人當日；或(b)其不再於該公司擁有任何財務權益當日 （以較後者為準）起計二年期間內，不得擔任委員會之成 員。 （股份代號：327） （「本公司」） 審核委員會 職權範圍 前言 以下為本公司審核委員會（「委員會」）的職權範圍，該職權範圍乃本公司董事（「董 事」）會（「董事會」）為遵照香港聯合交易所有限公司證券上市規則（「上市規則」）項下 企業管治守則而不時修訂及批准。 成員及秘書 1. 組成： 委員會須至少由三名成員（「成員」）組成。 * 僅供識別 1 權限 範圍 委員會應根據以下範圍運作： 委員會在向董事會提交前審閱該等報告時，應特別注意以下事項： 2 2. 主席： 委員會主席由董事會委任，並須為獨立非執行董事。 3. 秘書： 本公司的公司 ...

EF001 其他信息 其他信息 不適用 發行人董事 於本公告日期，董事會成員包括三名執行董事，分別為聶國明先生、李文晉先生及張仕揚先生；以及四名獨立非執行董事葉偉明先 生、吳敏博士、文國權先生及霍偉舜先生。 第 2 頁 共 2 頁 v 1.1.1 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 | 百富環球科技有限公司 | | 股份代號 00327 | | | 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之中期股息 | | 公告日期 | 2025年8月18日 | | 公告狀態 新公告 | | | 股息信息 | | | 股息類型 | 中期（半年期） | | 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3 ...

[Report Overview](index=1&type=section&id=ReportOverview) This section provides a high-level summary of the company's financial performance and key balance sheet items for the interim period [Financial Summary (Summary Table)](index=1&type=section&id=FinancialSummaryTable) PAX Global Technology reported a 9.9% revenue decrease to **HKD 2.716 billion** and a 14.9% profit decline to **HKD 391 million** for the six months ended June 30, 2025 Financial Summary for the Six Months Ended June 30 | Metric | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 2,716,164 | 3,013,241 | -9.9% | | Gross Profit | 1,272,545 | 1,409,236 | -9.7% | | Operating Profit | 470,997 | 537,525 | -12.4% | | Profit for the Period | 391,351 | 459,760 | -14.9% | | Profit Attributable to Owners of the Company | 390,877 | 454,583 | -14.0% | | R&D Costs | (305,174) | (304,219) | +0.3% | | Basic EPS (HKD) | 0.369 | 0.425 | -13.2% | | Diluted EPS (HKD) | 0.363 | 0.416 | -12.7% | | Interim Dividend per Ordinary Share (HKD) | 0.25 | 0.24 | +4.2% | Key Balance Sheet Items (As of June 30) | Metric | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Total Current Assets | 7,708,931 | 7,646,119 | +0.8% | | Total Assets | 9,208,715 | 9,169,505 | +0.4% | | **Equity** | | | | | Net Current Assets | 6,400,937 | 6,130,960 | +4.4% | | Total Equity | 7,805,146 | 7,564,587 | +3.2% | [Financial Statements](index=2&type=section&id=FinancialStatements) This section presents the interim condensed consolidated statements of profit or loss, comprehensive income, and financial position [Interim Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=InterimCondensedConsolidatedStatementOfProfitOrLoss) Revenue decreased by **9.9%** to **HKD 2.716 billion**, with operating profit and profit for the period declining by **12.4%** and **14.9%** respectively, driven by revenue reduction and increased other losses Key Data from Interim Condensed Consolidated Statement of Profit or Loss | Metric | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 2,716,164 | 3,013,241 | -9.9% | | Cost of Sales | (1,443,619) | (1,604,005) | -9.9% | | Gross Profit | 1,272,545 | 1,409,236 | -9.7% | | Other Income | 29,568 | 36,851 | -19.8% | | Other (Losses) / Gains | (9,871) | 1,589 | -721.2% | | Selling Expenses | (302,663) | (346,978) | -12.8% | | Administrative Expenses | (515,821) | (576,796) | -10.6% | | Net Impairment Loss on Financial Assets / Net Reversal of Impairment Loss | (2,761) | 13,623 | -120.3% | | Operating Profit | 470,997 | 537,525 | -12.4% | | Finance Costs | (2,446) | (2,908) | -15.9% | | Share of Results of Investments Accounted for Using Equity Method | (2,601) | 4,686 | -155.5% | | Profit Before Income Tax | 465,950 | 539,303 | -13.6% | | Income Tax Expense | (74,599) | (79,543) | -6.3% | | Profit for the Period | 391,351 | 459,760 | -14.9% | | Profit Attributable to Owners of the Company | 390,877 | 454,583 | -14.0% | | Basic EPS (HKD) | 0.369 | 0.425 | -13.2% | | Diluted EPS (HKD) | 0.363 | 0.416 | -12.7% | [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=InterimCondensedConsolidatedStatementOfComprehensiveIncome) Total comprehensive income increased by **35.1%** to **HKD 515 million**, primarily due to favorable exchange differences from overseas subsidiaries' financial statement translations Key Data from Interim Condensed Consolidated Statement of Comprehensive Income | Metric | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Profit for the Period | 391,351 | 459,760 | -14.9% | | Exchange Differences on Translation of Financial Statements of Overseas Subsidiaries (may be reclassified to profit or loss) | 119,159 | (77,283) | +254.1% | | Exchange Differences on Translation of Financial Statements of Overseas Subsidiaries (will not be reclassified to profit or loss) | 4,491 | (1,416) | +417.2% | | Total Comprehensive Income for the Period, Net of Tax | 515,001 | 381,061 | +35.1% | | Total Comprehensive Income Attributable to Owners of the Company | 510,036 | 377,300 | +35.2% | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=InterimCondensedConsolidatedStatementOfFinancialPosition) Total assets increased by **0.4%** to **HKD 9.209 billion**, total equity grew by **3.2%** to **HKD 7.805 billion**, and total liabilities decreased by **12.6%** to **HKD 1.404 billion** Key Data from Interim Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (HKD Thousands) | December 31, 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Total Non-current Assets | 1,499,784 | 1,523,386 | -1.5% | | Total Current Assets | 7,708,931 | 7,646,119 | +0.8% | | Total Assets | 9,208,715 | 9,169,505 | +0.4% | | **Equity** | | | | | Equity Attributable to Owners of the Company | 7,765,647 | 7,530,053 | +3.1% | | Total Equity | 7,805,146 | 7,564,587 | +3.2% | | **Liabilities** | | | | | Total Non-current Liabilities | 95,575 | 89,759 | +6.5% | | Total Current Liabilities | 1,307,994 | 1,515,159 | -13.7% | | Total Liabilities | 1,403,569 | 1,604,918 | -12.6% | | Total Equity and Liabilities | 9,208,715 | 9,169,505 | +0.4% | [Notes to Financial Statements](index=6&type=section&id=NotesToFinancialStatements) This section provides detailed explanations of the accounting policies, segment information, and specific financial items presented in the interim financial statements [General Information](index=6&type=section&id=GeneralInformation) The Group primarily develops and sells electronic payment terminal products and provides related services, with its shares listed on the Hong Kong Stock Exchange since December 20, 2010 - The Group primarily engages in the development and sale of electronic payment terminal products, along with providing maintenance, installation, and payment solution services[9](index=9&type=chunk) - The company's shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on **December 20, 2010**[10](index=10&type=chunk) [Basis of Preparation](index=6&type=section&id=BasisOfPreparation) The interim condensed consolidated financial information is prepared under HKAS 34 "Interim Financial Reporting" and should be read with the 2024 annual consolidated financial statements - The interim condensed consolidated financial information has been prepared in accordance with Hong Kong Accounting Standard 34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants[14](index=14&type=chunk) - This interim condensed consolidated financial information should be read in conjunction with the annual consolidated financial statements for the year ended **December 31, 2024**[14](index=14&type=chunk) [Accounting Policies](index=6&type=section&id=AccountingPolicies) Accounting policies align with the 2024 annual consolidated financial statements, with HKFRS 18 expected to broadly impact presentation and disclosure upon its mandatory application from **January 1, 2027** - The accounting policies adopted are consistent with those described in the annual consolidated financial statements for the year ended **December 31, 2024**, except for income tax estimates and the adoption of new and revised standards as set out below[15](index=15&type=chunk) - HKFRS 18 will replace HKAS 1 “Presentation of Financial Statements” and is expected to have a broad impact on presentation and disclosure[17](index=17&type=chunk) - The Group expects to apply the new standard from its mandatory effective date of **January 1, 2027**[17](index=17&type=chunk) [Revenue, Other Income and Other (Losses) / Gains](index=8&type=section&id=RevenueOtherIncomeAndOtherLossesGains) Sales of electronic payment terminals decreased by **10.7%** to **HKD 2.544 billion**, while service revenue grew **4.7%** to **HKD 172 million**, with other income declining due to reduced VAT refunds Details of Revenue, Other Income and Other (Losses) / Gains | Item | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | | | | | Sales of electronic payment terminal products | 2,544,491 | 2,849,245 | -10.7% | | Providing services | 171,673 | 163,996 | +4.7% | | **Total Revenue** | 2,716,164 | 3,013,241 | -9.9% | | **Other Income** | | | | | Interest income | 9,480 | 9,928 | -4.5% | | Government grants | 1,142 | 2,691 | -57.5% | | VAT refunds | 8,011 | 11,426 | -29.9% | | Others | 10,935 | 12,806 | -14.5% | | **Total Other Income** | 29,568 | 36,851 | -19.8% | | **Other (Losses) / Gains** | | | | | Fair value (losses) / gains on investments at fair value through profit or loss | (7,873) | 1,589 | -595.4% | | Fair value loss on contingent consideration | (1,998) | – | N/A | | **Total Other (Losses) / Gains** | (9,871) | 1,589 | -721.2% | [Segment Information](index=9&type=section&id=SegmentInformation) The Group operates in electronic payment terminal solutions, with **HKD 1.811 billion** revenue from Hong Kong and other regions, and **HKD 498 million** from the US, where segment operating loss expanded to **HKD 139 million** - The Group primarily engages in the electronic payment terminal solutions business and considers itself to operate in a single business segment[19](index=19&type=chunk) Revenue from External Customers by Geographical Region (For the Six Months Ended June 30, 2025) | Region | Revenue (HKD Thousands) | | :--- | :--- | | China (excluding Hong Kong, Macau and Taiwan) | 184,447 | | Hong Kong and Others | 1,810,711 | | United States | 498,033 | | Italy | 222,973 | | **Total** | 2,716,164 | Segment Operating Profit / (Loss) by Geographical Region (For the Six Months Ended June 30, 2025) | Region | Operating Profit / (Loss) (HKD Thousands) | | :--- | :--- | | China (excluding Hong Kong, Macau and Taiwan) | 67,121 | | Hong Kong and Others | 326,377 | | United States | (139,660) | | Italy | 5,245 | | Elimination and Corporate Expenses | 211,914 | | **Total** | 470,997 | - For the six months ended **June 30, 2025**, revenue from the largest customer was **HKD 232 million**, accounting for **8.6%** of total revenue, attributable to the Hong Kong business segment[24](index=24&type=chunk) - As of **June 30, 2025**, total non-current assets amounted to **HKD 1.499 billion**, with China (excluding Hong Kong, Macau and Taiwan) accounting for the largest portion at **HKD 1.187 billion**[27](index=27&type=chunk) [Expenses by Nature](index=12&type=section&id=ExpensesByNature) Cost of inventories sold, sales commissions, and net foreign exchange gains decreased, while provision for obsolete inventories and intangible asset amortization significantly increased, with employee benefits and R&D costs remaining stable Details of Expenses by Nature | Item | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Cost of inventories sold | 1,327,135 | 1,529,980 | -13.2% | | Provision for obsolete inventories | 62,347 | 4,590 | +1258.3% | | Employee benefit expenses | 404,538 | 392,024 | +3.2% | | R&D costs | 305,174 | 304,219 | +0.3% | | Sales commissions | 60,960 | 74,808 | -18.5% | | Depreciation of property, plant and equipment | 34,811 | 29,197 | +19.2% | | Depreciation of right-of-use assets | 14,098 | 15,268 | -7.6% | | Amortisation of intangible assets | 5,337 | 1,595 | +234.6% | | Net foreign exchange (gains) / losses | (43,385) | 32,273 | -234.5% | | Net impairment loss on financial assets / (net reversal of impairment loss) | 2,761 | (13,623) | -120.3% | [Employee Benefit Expenses](index=13&type=section&id=EmployeeBenefitExpenses) Total employee benefit expenses, including directors' emoluments, increased by **3.2%** to **HKD 405 million**, primarily due to higher wages and salaries Details of Employee Benefit Expenses | Item | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Wages and salaries | 376,269 | 364,481 | +3.2% | | Social security and pension costs | 28,269 | 27,543 | +2.6% | | **Total** | 404,538 | 392,024 | +3.2% | [Income Tax Expense](index=13&type=section&id=IncomeTaxExpense) Total income tax expense decreased by **6.3%** to **HKD 74.6 million**, with a significant drop in China corporate income tax offset by increased Hong Kong profits tax, while R&D tax incentives continue Details of Income Tax Expense | Item | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | China corporate income tax | 27,361 | 69,971 | -60.9% | | Hong Kong profits tax | 36,004 | 20,180 | +78.4% | | Overseas profits tax | 11,597 | 11,389 | +1.8% | | R&D expense tax incentives | (30,946) | (27,632) | +12.0% | | Total current income tax | 44,016 | 74,596 | -41.0% | | Deferred income tax | 30,583 | 4,947 | +518.2% | | **Total Income Tax Expense** | 74,599 | 79,543 | -6.3% | - PAX Computer Technology (Shenzhen) Co., Ltd., as a high-tech enterprise, enjoys a preferential corporate income tax rate of **15%**[31](index=31&type=chunk) - The Group's subsidiaries in China benefit from tax incentives issued by Chinese tax authorities for their R&D expenses, allowing for additional tax deductions up to **100%** of the relevant R&D expenses incurred[34](index=34&type=chunk) [Earnings Per Share](index=14&type=section&id=EarningsPerShare) Basic earnings per share decreased by **13.2%** to **HKD 0.369**, while diluted earnings per share declined by **12.7%** to **HKD 0.363** for the period Basic Earnings Per Share | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company (HKD Thousands) | 390,877 | 454,583 | | Weighted Average Number of Ordinary Shares in Issue (Thousands) | 1,060,685 | 1,070,525 | | **Basic EPS (HKD per share)** | 0.369 | 0.425 | Diluted Earnings Per Share | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company (HKD Thousands) | 390,877 | 454,583 | | Weighted Average Number of Ordinary Shares for Diluted EPS (Thousands) | 1,075,344 | 1,092,547 | | **Diluted EPS (HKD per share)** | 0.363 | 0.416 | [Dividends](index=15&type=section&id=Dividends) The Board declared an interim dividend of **HKD 0.25** per ordinary share for the six months ended June 30, 2025, marking a **4.2%** increase year-on-year - The Board resolved to declare an interim dividend of **HKD 0.25** per ordinary share for the six months ended **June 30, 2025** (for the six months ended June 30, 2024: HKD 0.24 per ordinary share)[37](index=37&type=chunk) [Trade and Other Receivables](index=16&type=section&id=TradeAndOtherReceivables) Total trade and other receivables increased by **8.3%** to **HKD 2.755 billion**, with **HKD 1.368 billion** due within 90 days, and **HKD 9.268 million** in retention receivables from Chinese customers Details of Trade and Other Receivables | Item | June 30, 2025 (HKD Thousands) | December 31, 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Trade receivables | 2,839,136 | 2,625,573 | +8.1% | | Less: Impairment allowance for trade receivables | (85,296) | (81,959) | +4.1% | | Net trade receivables | 2,753,840 | 2,543,614 | +8.3% | | Bills receivable | 673 | 270 | +149.3% | | **Total Trade and Other Receivables** | 2,754,513 | 2,543,884 | +8.3% | Ageing Analysis of Trade Receivables (As of June 30, 2025) | Ageing | Amount (HKD Thousands) | | :--- | :--- | | Within 90 days | 1,368,447 | | 91 to 180 days | 488,607 | | 181 to 365 days | 605,099 | | Over 365 days | 376,983 | | **Total** | 2,839,136 | - Trade receivables include retention receivables of **HKD 9.268 million**, representing approximately **2% to 5%** of the total contract value granted to certain customers in China, with retention periods ranging from three to seven years[39](index=39&type=chunk) [Trade and Other Payables](index=17&type=section&id=TradeAndOtherPayables) Total trade and other payables decreased by **11.2%** to **HKD 833 million**, with **HKD 717 million** due within 90 days Details of Trade and Other Payables | Item | June 30, 2025 (HKD Thousands) | December 31, 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Trade payables | 832,910 | 935,193 | -11.0% | | Amount due to an associate | – | 2,018 | -100.0% | | **Total** | 832,910 | 937,211 | -11.2% | Ageing Analysis of Trade Payables (As of June 30, 2025) | Ageing | Amount (HKD Thousands) | | :--- | :--- | | Within 90 days | 716,651 | | 91 to 180 days | 113,235 | | 181 to 365 days | 3,024 | | **Total** | 832,910 | [Capital Commitments](index=18&type=section&id=CapitalCommitments) Contracted but unrecognized capital commitments for property, plant, and equipment in China decreased by **14.2%** to **HKD 6.962 million** as of June 30, 2025 Details of Capital Commitments | Item | June 30, 2025 (HKD Thousands) | December 31, 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Property, plant and equipment in China | 6,962 | 8,110 | -14.2% | [Management Discussion and Analysis](index=19&type=section&id=ManagementDiscussionAndAnalysis) This section provides an overview of the company's financial performance, including revenue, gross profit, expenses, and profit for the period, along with key drivers [Financial Summary: Revenue](index=19&type=section&id=FinancialSummaryRevenue) Total revenue decreased by **9.9%** to **HKD 2.716 billion** due to global economic uncertainty, with LACIS revenue down **36.0%** and USCA revenue up **39.0%** Sales by Geographical Region | Region | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Europe, Middle East and Africa (EMEA) | 1,083,949 | 1,103,965 | -1.8% | | Latin America and CIS (LACIS) | 684,151 | 1,069,814 | -36.0% | | United States and Canada (USCA) | 498,679 | 358,721 | +39.0% | | Asia Pacific (APAC) | 449,385 | 480,741 | -6.5% | | **Total** | 2,716,164 | 3,013,241 | -9.9% | - The decrease in revenue was primarily due to a decline in purchase orders in certain markets during the period, mainly attributable to global economic uncertainty[42](index=42&type=chunk) Sales by Product Category | Product Category | 2025 (HKD Thousands) | 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Sales of electronic payment terminal products | 2,544,491 | 2,849,245 | -10.7% | | Providing services | 171,673 | 163,996 | +4.7% | | **Total** | 2,716,164 | 3,013,241 | -9.9% | - The increase in revenue from providing services was mainly due to the growing demand for SaaS (Software-as-a-Service) solutions[45](index=45&type=chunk) [Financial Summary: Gross Profit Margin](index=21&type=section&id=FinancialSummaryGrossProfitMargin) Gross profit margin remained stable at **46.9%** for the six months ended June 30, 2025, consistent with **46.8%** in the prior period - The gross profit margin remained relatively stable at **46.9%** and **46.8%** for the six months ended **June 30, 2025**, and **June 30, 2024**, respectively[46](index=46&type=chunk) [Financial Summary: Other Income](index=21&type=section&id=FinancialSummaryOtherIncome) Other income decreased by **19.8%** to **HKD 29.6 million**, primarily attributed to a reduction in VAT refunds - Other income decreased by **19.8%** from **HKD 36.9 million** for the six months ended **June 30, 2024**, to **HKD 29.6 million** for the six months ended **June 30, 2025**, mainly due to reduced VAT refunds[47](index=47&type=chunk) [Financial Summary: Selling Expenses](index=21&type=section&id=FinancialSummarySellingExpenses) Selling expenses decreased by **12.8%** to **HKD 303 million**, primarily due to lower sales commissions and reduced transportation costs for delivered goods - Selling expenses decreased by **12.8%** from **HKD 347.0 million** for the six months ended **June 30, 2024**, to **HKD 302.7 million** for the six months ended **June 30, 2025**, primarily due to a decrease in sales commissions and transportation costs for delivered goods[48](index=48&type=chunk) [Financial Summary: Administrative Expenses](index=21&type=section&id=FinancialSummaryAdministrativeExpenses) Administrative expenses decreased by **10.6%** to **HKD 516 million**, mainly due to favorable foreign exchange movements, partially offset by increased employee benefits and other expenses - Administrative expenses decreased by **10.6%** from **HKD 576.8 million** for the six months ended **June 30, 2024**, to **HKD 515.8 million** for the six months ended **June 30, 2025**, primarily due to favorable foreign exchange movements (e.g., JPY, EUR, and RMB), partially offset by increased employee benefits and other expenses[49](index=49&type=chunk) [Financial Summary: Net Impairment Loss on Financial Assets / Net Reversal of Impairment Loss](index=21&type=section&id=FinancialSummaryImpairmentLossOnFinancialAssets) A net impairment loss of **HKD 2.8 million** on financial assets was recognized, contrasting with a net reversal of **HKD 13.6 million** in the prior period - The Group recognized a net impairment loss on financial assets of **HKD 2.8 million** and a net reversal of impairment loss on financial assets of **HKD 13.6 million** for the six months ended **June 30, 2025**, and **June 30, 2024**, respectively[50](index=50&type=chunk) [Financial Summary: Profit for the Period and Profit Attributable to Owners of the Company](index=21&type=section&id=FinancialSummaryProfitForThePeriodAndProfitAttributableToOwners) Profit for the period decreased by **14.9%** to **HKD 391 million**, and profit attributable to owners declined by **14.0%** to **HKD 391 million**, influenced by various factors - Profit for the period was **HKD 391.4 million**, a **14.9%** decrease compared to **HKD 459.8 million** for the six months ended **June 30, 2024**[51](index=51&type=chunk) - Profit attributable to owners of the company decreased by **14.0%** from **HKD 454.6 million** for the six months ended **June 30, 2024**, to **HKD 390.9 million** for the six months ended **June 30, 2025**[51](index=51&type=chunk) [Business Review and Industry Trends](index=22&type=section&id=BusinessReviewAndIndustryTrends) This section reviews the company's market performance, industry trends, product development, and strategic initiatives across various geographical regions [Market Analysis and Industry Trends](index=22&type=section&id=MarketAnalysisAndIndustryTrends) Rapid growth in digital payments and blockchain, supported by favorable policies, creates opportunities for the payment terminal industry, with the company maintaining a **46.9%** gross profit margin and **14.4%** net profit margin - The increasing popularity of digital payments, new opportunities from blockchain technology, and favorable policy environments (e.g., the US GENIUS Act and Hong Kong's Stablecoin Ordinance) are driving payment market development[52](index=52&type=chunk) - The Group actively seizes industry development opportunities, with PAX payment terminals now supporting emerging payment methods like stablecoins in multiple regions worldwide[52](index=52&type=chunk) - The Group's gross profit margin remained stable at **46.9%**, with profit for the period reaching **HKD 391.4 million** and a net profit margin of **14.4%**[52](index=52&type=chunk) [Leading Global Payment Security Standards, Setting New Industry Benchmarks](index=22&type=section&id=LeadingGlobalPaymentSecurityStandards) PAX was re-elected to the PCI SSC Board of Advisors as the sole Asian payment terminal vendor, with its A920Pro and A77 Android MiniPOS achieving significant security certifications, reinforcing its leadership in payment security - PAX was re-elected to the Payment Card Industry Security Standards Council (PCI SSC) Board of Advisors, becoming the only Asian payment terminal vendor among over sixty global companies[53](index=53&type=chunk) - The A920Pro smart terminal successfully passed **EMVCo C-8 certification**, laying the foundation for the industry's transition to next-generation contactless standards[53](index=53&type=chunk) - The A77 Android MiniPOS became the world's first payment terminal to receive **PCI PTS POI v7.0 certification**, the highest security specification for PIN entry devices[53](index=53&type=chunk) [Promoting Global Adoption of Android Smart Payment Terminals, Expanding Diverse Application Scenarios](index=23&type=section&id=PromotingGlobalAdoptionOfAndroidSmartPaymentTerminals) The company is expanding Android smart payment terminal adoption across diverse sectors, with Android products contributing over **65%** of the Group's total revenue during the period - PAX smart payment terminals are widely applied across various key industry scenarios, including retail, catering, fast-food chains, transportation, vending machines, theme parks, tourist hotspots, and electric vehicle charging stations[55](index=55&type=chunk) - During the period, Android products accounted for over **65%** of the Group's total revenue[55](index=55&type=chunk) [SaaS Ecosystem Expansion](index=23&type=section&id=SaaSEcosystemExpansion) The company continues investing in its MAXSTORE SaaS solution, which now supports **15 million** connected terminals and offers over **16,000** diverse applications as of June 30, 2025 - As of **June 30, 2025**, the MAXSTORE platform has reached a milestone of **15 million** connected terminals[56](index=56&type=chunk) - The MAXSTORE platform offers over **16,000** diverse applications[56](index=56&type=chunk) [Regional Analysis](index=23&type=section&id=RegionalAnalysis) EMEA sales reached **HKD 1.084 billion**, remaining the largest contributor, while LACIS faced pressure, USCA sales grew **39.0%**, and APAC saw Japan sales double with Australia's RKI service gaining PCI PIN certification - EMEA region sales reached **HKD 1,083.9 million**, consistently remaining PAX's largest sales contributor, with significant sales contributions from key markets such as Italy, the United Kingdom, and France[57](index=57&type=chunk) - The LACIS region faced some sales pressure, particularly in the Brazilian market, but achieved significant sales growth in Panama[58](index=58&type=chunk) - USCA market sales increased by **39.0%** year-on-year, with further penetration of flagship payment products and significant progress in expanding the Android Commercial POS (EPOS) market[59](index=59&type=chunk) - Japan sales in the APAC region doubled, with the A8700 smart payment terminal being massively deployed by one of Japan's largest retail chains; Australia's newly established Remote Key Injection (RKI) service successfully obtained **PCI PIN certification**[60](index=60&type=chunk) [Seizing Stablecoin Opportunities](index=25&type=section&id=SeizingStablecoinOpportunities) The company will actively embrace emerging stablecoin payment methods, leveraging its global network and SaaS ecosystem to capitalize on new opportunities as the policy environment matures - **2025** is hailed as the inaugural year for stablecoin payments, with the implementation of the US GENIUS Act and Hong Kong's Stablecoin Ordinance signaling a new landscape for the payment market[62](index=62&type=chunk) - PAX will actively embrace emerging digital currency payment methods, providing more diversified, secure, and efficient payment solutions for global merchants[62](index=62&type=chunk) [Optimizing Payment Terminal Product Line, Focusing on High-Potential Android Models](index=25&type=section&id=OptimizingPaymentTerminalProductLine) To enhance competitiveness, the company will streamline its payment terminal product line, focusing resources on high-demand Android models to strengthen brand influence and improve efficiency - The Group will streamline its payment terminal product line, concentrating resources on high-demand and high-value Android models to strengthen brand influence[63](index=63&type=chunk) [Strengthening SaaS Ecosystem, Enhancing Value-Added Service Capabilities](index=25&type=section&id=StrengtheningSaaSEcosystem) The company is actively building a comprehensive SaaS ecosystem, including AirViewer, GoInsight, Cyberlab, and PCI-certified RKI services, with plans to integrate AI technology for enhanced intelligent support and data application - The Group is actively building a comprehensive SaaS ecosystem, including value-added services such as remote assistance AirViewer, big data analytics GoInsight, cloud payment application testing platform Cyberlab, and PCI-certified RKI (Remote Key Injection)[64](index=64&type=chunk) - PAX is also accelerating the integration of Artificial Intelligence (AI) technology to enhance intelligent support and data application capabilities, laying a solid foundation for building next-generation smart payment infrastructure[64](index=64&type=chunk) [Liquidity and Financial Resources](index=26&type=section&id=LiquidityAndFinancialResources) This section details the Group's cash position, capital structure, and management of foreign exchange risk [Liquidity and Financial Resources Overview](index=26&type=section&id=LiquidityAndFinancialResourcesOverview) As of June 30, 2025, the Group held **HKD 2.976 billion** in cash and equivalents with no borrowings, net current assets increased to **HKD 6.401 billion**, but net cash from operations decreased by **64.3%** to **HKD 154 million** Key Data on Liquidity and Financial Resources | Metric | June 30, 2025 (HKD Thousands) | December 31, 2024 (HKD Thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | 2,976,100 | 3,083,600 | -3.5% | | Short-term bank deposits | 165,800 | 162,500 | +2.0% | | Net current assets | 6,400,900 | 6,131,000 | +4.4% | | Net cash generated from operating activities (For the six months ended June 30) | 153,700 | 430,700 | -64.3% | - As of **June 30, 2025**, the Group had no borrowings, thus the gearing ratio is not applicable[65](index=65&type=chunk) [Capital Structure and Pledging Details](index=26&type=section&id=CapitalStructureAndPledgingDetails) As of June 30, 2025, the Group had no significant borrowings or pledged assets, with cash and equivalents primarily denominated in RMB, USD, and HKD - As of **June 30, 2025**, the Group had no significant borrowings or bank credit facilities, and no assets were pledged[66](index=66&type=chunk) Cash and Cash Equivalents by Currency Denomination | Currency | June 30, 2025 (HKD Thousands) | December 31, 2024 (HKD Thousands) | | :--- | :--- | :--- | | RMB | 2,133,922 | 1,726,723 | | USD | 589,405 | 982,728 | | HKD | 76,001 | 138,012 | | EUR | 74,367 | 113,772 | | INR | 48,738 | 53,517 | | JPY | 37,415 | 36,171 | | Others | 16,210 | 32,675 | | **Total** | 2,976,058 | 3,083,598 | [Exchange Rate Risk](index=27&type=section&id=ExchangeRateRisk) The Group's financial items are primarily denominated in RMB, HKD, USD, EUR, INR, and JPY, with management monitoring exchange rates and deeming USD-related foreign exchange risk not significant - The Group's revenue, purchases, and expenses are primarily denominated in RMB, HKD, USD, EUR, INR, and JPY[70](index=70&type=chunk) - Currently, the Group has not entered into any agreements or purchased instruments to hedge most of its exchange rate risk[70](index=70&type=chunk) - Management considers the foreign exchange risk related to USD not significant, as HKD is pegged to USD[70](index=70&type=chunk) [Other Significant Information](index=27&type=section&id=OtherSignificantInformation) This section covers human resources, dividend declarations, share repurchases, corporate governance practices, and the audit committee's review of interim results [Human Resources and Remuneration Policy](index=27&type=section&id=HumanResourcesAndRemunerationPolicy) As of June 30, 2025, the Group had **1,500** employees, with **882** in R&D, and offers comprehensive remuneration including fixed salaries, bonuses, share options, and training subsidies Number of Employees by Function | Function | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Management | 12 | 12 | | Sales, After-sales Service and Marketing | 284 | 292 | | R&D | 882 | 881 | | Quality Control | 87 | 89 | | Administration and Human Resources | 91 | 93 | | Accounting | 43 | 41 | | Production, Procurement and Inventory Control | 101 | 101 | | **Total** | 1,500 | 1,509 | - The Group ensures its remuneration packages are comprehensive and attractive, including fixed directors' emoluments, discretionary bonuses, share options, and external training subsidies[74](index=74&type=chunk) [Interim Dividend and Closure of Register of Members](index=28&type=section&id=InterimDividendAndClosureOfRegisterOfMembers) The Board declared an interim dividend of **HKD 0.25** per ordinary share for the six months ended June 30, 2025, with share transfer registration suspended from **September 9 to September 11, 2025**, to determine dividend entitlements - The Board resolved on **September 25, 2025**, to declare an interim dividend of **HKD 0.25** per ordinary share for the six months ended **June 30, 2025**, payable to shareholders whose names appear on the company's register of members at the close of business on **September 11, 2025**[76](index=76&type=chunk) - To determine shareholders' entitlement to the interim dividend, the company's share transfer registration will be suspended from **Tuesday, September 9, 2025**, to **Thursday, September 11, 2025** (both days inclusive)[77](index=77&type=chunk) [Purchase, Sale or Redemption of Shares](index=29&type=section&id=PurchaseSaleOrRedemptionOfShares) For the six months ended June 30, 2025, the company repurchased **2,162,000** ordinary shares for **HKD 9,863,740**, believing it to be in the best interest of the company and shareholders, with all repurchased shares cancelled - For the six months ended **June 30, 2025**, the company repurchased a total of **2,162,000** ordinary shares for a total consideration of **HKD 9,863,740**[78](index=78&type=chunk) - The Board believes that the share repurchases are in the best interests of the company and its shareholders, and can enhance the company's net asset value per share and/or earnings per share[78](index=78&type=chunk) - As of the date of this announcement, all the aforementioned repurchased shares have been cancelled[78](index=78&type=chunk) [Corporate Governance Practices](index=30&type=section&id=CorporateGovernancePractices) The company adheres to the Corporate Governance Code, with the CEO also serving as Chairman, a deviation from C.2.1, which the Board believes enhances strategy execution and operational efficiency - The company's corporate governance practices are based on the principles and code provisions of good corporate governance as set out in Appendix C1 of the Listing Rules[82](index=82&type=chunk) - Following the appointment of Mr. Nie Guoming as Chief Executive Officer (effective **July 3, 2025**), he also serves as the Chairman of the Board and Chief Executive Officer, which deviates from code provision C.2.1 of the Corporate Governance Code[83](index=83&type=chunk) - The Board believes that combining the roles of Chairman of the Board and Chief Executive Officer in the same person facilitates the execution of the Group's business strategies and enhances its operational efficiency[83](index=83&type=chunk) [Audit Committee Review of Interim Results](index=30&type=section&id=AuditCommitteeReviewOfInterimResults) The Audit Committee reviewed the Group's accounting principles, risk management, internal controls, and financial reporting, including the unaudited interim condensed consolidated financial information for the six months ended June 30, 2025 - The Audit Committee has reviewed the accounting principles and practices adopted by the Group with management, and discussed risk management, internal control, and financial reporting matters with the Directors[84](index=84&type=chunk)

(327.HK) PAX Global Technology Limited Interim results 2025 Disclaimer The information contained in these presentation materials has been prepared by PAX Global Technology Limited ( "Company" or "PAX") (incorporated in Bermuda with limited liability) solely for use at the presentation to prospective investors for introduction of the Company. By accepting this document, you are agreeing to maintain absolute confidentiality regarding the information disclosed in this document. This document has not been indep ...

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，概不對因本公告全部或任何 部分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。 PAX GLOBAL TECHNOLOGY LIMITED 承董事會命 百富環球科技有限公司 執行董事兼公司秘書 張仕揚 香港，二零二五年八月六日 於本公告日期，董事會成員包括三名執行董事，分別為聶國明先生、李文晉先生 及張仕揚先生；以及四名獨立非執行董事葉偉明先生、吳敏博士、文國權先生及 霍偉舜先生。 * 僅供識別 百富環球科技有限公 司* （於百慕達註冊成立之有限公司） （股份代號：327） 董事會會議召開日期 百富環球科技有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於二零 二五年八月十八日（星期一）舉行董事會會議，藉以（其中包括）考慮及批准本公司及 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其發佈、考慮宣派中 期股息（如有），以及處理任何其他事項。 ...

FF301 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7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: 百富環球科技有限公司（於百慕達註冊成立之有限公司） 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 第 2 頁 共 10 頁 v 1.1.1 III.已發行股份及/或庫存股份變動詳情 | 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) | 00327 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | ...

Group 1 - The core viewpoint of the article highlights the significant stock price increase of Baifu Global, which rose by 10.27% to reach HKD 6.87 per share, with a trading volume of HKD 185 million [1] - Baifu Global Technology Co., Ltd. specializes in providing electronic payment terminal solutions, with over 90 distributors and partners globally, and its products are sold in more than 120 countries [1] - The company has shipped over 80 million electronic payment terminals worldwide, with nearly 50% of its employees dedicated to research and development [1] Group 2 - As of the 2024 annual report, Baifu Global reported a total revenue of HKD 5.598 billion and a net profit of HKD 661 million [2]

Core Viewpoint - The payment industry is experiencing unprecedented efficiency due to the rise of electronic payments, but security remains the core focus for long-term market performance [1] Group 1: Company Achievements - 百富环球 has been re-elected as a member of the PCI Security Standards Council (PCI SSC), highlighting its strong brand credibility and product safety [1][2] - The company is recognized alongside major global firms such as Apple, Amazon, and Microsoft, indicating high international recognition of its brand and products [1] - 百富环球 has established a broad influence globally, with operations across EMEA, LACIS, APAC, and USCA regions [2] Group 2: Technological Advancements - 百富环球's flagship Android payment terminal, A920Pro, has successfully passed the EMVCo C-8 contactless payment standard certification, enhancing its market competitiveness and technological leadership [2] - As a member of the EMVCo Advisory Board, 百富环球 has proactively optimized its products according to the EMVCo C-8 standards [2] Group 3: Product Evolution - The A920Pro will enhance security by effectively preventing new types of payment fraud and improve convenience by reducing integration workload and overall costs [3] - The product will ensure operational continuity during the migration process, allowing for a seamless transition while remaining compatible with existing systems [3] Group 4: Industry Outlook - With the rapid advancement of financial technology and government support for cashless economies, 百富环球 is positioned to enhance payment efficiency and security, contributing to the orderly development of the industry [3] - The leadership of top companies like 百富环球 is expected to drive the global electronic payment industry towards new prosperity [3]

Financial Performance - Revenue for 2024 decreased by 9.9% to HK$6,044.9 million compared to HK$6,709.3 million in 2023[6] - Gross profit fell by 4.7% to HK$2,853.4 million, resulting in a gross profit margin of 47.2%, up from 44.6% in 2023[6][8] - Operating profit decreased by 31.7% to HK$856.2 million, with an operating profit margin of 14.2%, down from 18.7% in 2023[6][8] - Profit for the year dropped by 38.1% to HK$720.9 million, with profit attributable to owners of the Company at HK$713.4 million, a decrease of 38.2%[6] - Basic earnings per share decreased by 37.8% to HK$0.669, while diluted earnings per share fell by 37.4% to HK$0.658[7] - Profit for the year was HK$720.9 million, down 38.1% compared to HK$1,165.1 million in 2023[66] - Earnings per share decreased by 37.8% to HK$0.669 for the year ended 31 December 2024, compared to HK$1.075 for 2023[90] - Annual profit for 2024 was HK$720.9 million, down 38.1% from HK$1,165.1 million in 2023[89] Dividends - Proposed final dividend per ordinary share increased by 8.7% to HK$0.25, up from HK$0.23 in 2023[7] - The proposed final dividend increased to HK$0.25 per share, totaling approximately HK$265,426,000, up from HK$246,056,000 in 2023[67] Assets and Liquidity - Total current assets rose by 1.2% to HK$7,646.1 million, while total assets increased by 1.0% to HK$9,169.5 million[6] - The current ratio slightly decreased to 5.0 from 5.1 in 2023, indicating a stable liquidity position[8] - The current ratio as of December 31, 2024, was 5.0, slightly down from 5.1 in 2023, while the quick ratio improved to 4.0 from 3.8[158] - The Group reported net current assets of HK$6,131.0 million as of December 31, 2024, compared to HK$6,064.4 million in 2023[159] Research and Development - Research and development costs increased by 6.1% to HK$683.5 million, indicating a focus on innovation despite declining profits[6] - The company is committed to increasing R&D investment to accelerate the global expansion of the Elys series, fueling long-term growth[124] Market Expansion and Product Development - The company is expanding its product offerings with new Android-based e-payment solutions and unattended service solutions, enhancing its market presence[14][19] - The company is expanding its market presence with subsidiaries in multiple countries, including Japan, India, and Italy[41] - Sales of Android smart products accounted for over 60% of total revenue, with the A920Pro model being particularly popular[74] - SaaS solution revenue grew by 30.5% year-on-year, reaching HK$138.2 million[74] - The EMEA emerged as the largest revenue region with annual sales of HK$2,202.9 million, driven by strong demand for the A920Pro[75] - The Group is expanding its presence in the UEMOA region in Africa, with increasing adoption of the A920 payment terminal[75] - In Latin America, Mexico and Argentina are becoming key contributors, with significant demand for Android smart terminals[76] Management and Governance - The management team includes experienced executives, with the Chairman having over 25 years in the card payment industry[44] - The Chief Executive Officer has over 20 years of experience in sales and marketing within the electronic payment industry[45] - The company has a strong management team with expertise in finance, compliance, and mergers and acquisitions[49] - Independent Non-Executive Directors bring diverse experience from various industries, enhancing corporate governance[52] - The Company emphasizes the importance of good corporate governance for healthy growth and has made considerable efforts to establish appropriate practices[181] - The Board consists of eight members, including four executive Directors and four independent non-executive Directors, ensuring a balanced composition for effective independent judgment[199] Financial Strategy and Risk Management - The company emphasizes risk management and treasury management as key operational focuses[48] - PAX's stringent credit management strategy and shipment optimization have reinforced its financial resilience amid global market challenges[118] - The Group has not entered into agreements to hedge the majority of its exchange rate risks, which may impact operating results due to fluctuations in HK$ or RMB[166] Employee and Workforce - The total number of employees decreased to 1,509 as of December 31, 2024, from 1,771 in 2023, reflecting a reduction in workforce[174] - The Group's remuneration packages for employees are designed to be comprehensive and competitive, including fixed salaries and discretionary bonuses[176]