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，並明確表示概不就因本公告全部或任何部分內容而產生或倚賴該等內容而引致之任何損失承擔任 何責任。 ( 於香港註冊成立之有限公司 ) (股份代號：363) 1 現有貸款二 須予披露的交易 向合營企業續展貸款 由於現有貸款協議二項下現有貸款二的最後到期還款日為二零二五年十月十三日，SIHL Finance（本公司之全資附屬公司）與合營企業（一間由上實基建（本公司之全資附屬公 司）擁有其 50%已發行股本之合營企業）於二零二五年九月十八日訂立二零二五年貸款協 議二，將現有貸款二的最後到期還款日延期至二零二六年九月十四日。 由於現有貸款協議四項下現有貸款四的最後到期還款日為二零二五年九月二十九日，SIHL Finance 與合營企業於二零二五年九月十八日訂立二零二五年貸款協議四，將現有貸款四 的最後到期還款日延期至二零二六年九月十四日。 由於現有貸款協議五項下現有貸款五的最後到期還款日為二零二五年九月十八日 ，SIHL Finance 與合營企業於於二零二五年九月十八日訂立二零二五年貸款協議五，將現有貸款 五的 ...

(Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code 股份代號: 363) NOTIFICATION LETTER 通知信函 本公司的本次公司通訊之中、英文版本已分別登載於本公司網站 www.sihl.com.hk 及香港聯合交易所有限公司之網站 www.hkexnews.hk （「網站版本」）。本公司衷心建 議 閣下閱覽本次公司通訊的網站版本。 Dear Non-registered Holder(s) (Note 1) , Shanghai Industrial Holdings Limited (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communication is available on the Com ...

(Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code 股份代號: 363) NOTIFICATION LETTER 通知信函 Dear Shareholders, Shanghai Industrial Holdings Limited (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Current Corporate Communication is available under the "Investor Relations" section of the Company's website at www.sihl.com.hk and the website of The Stock Exchange of Hong Kong Limited (the "Stock ...

Guiding Tomorrow Sustainable 綠色健康 Wellness 引領未來 中期報告 2025 2025 年中期報告 | 公司資料 | 2 | | --- | --- | | 股東資料 | 3 | | 董事長報告書 | 4 | | 集團業務結構 | 8 | | 業務回顧、討論與分析 | 9 | | 財務回顧 | 22 | | 簡明綜合財務報表的審閱報告 | 30 | | 簡明綜合損益表 | 31 | | 簡明綜合損益及其他全面收益表 | 32 | | 簡明綜合財務狀況表 | 33 | | 簡明綜合權益變動表 | 35 | | 簡明綜合現金流量表 | 37 | | 簡明綜合財務報表附註 | 39 | | 其他資料 | 54 | | 詞彙 | 56 | 目錄 公司資料 董事 執行董事 冷偉青女士 （董事長） 張 芊先生 （行政總裁） 姚嘉勇先生 徐有利先生 （副行政總裁） 獨立非執行董事 梁伯韜先生 袁天凡先生 張 黔教授1 唐嘉盛先生1 董事會轄下委員會 執行委員會 冷偉青女士 （委員會主席） 張 芊先生 姚嘉勇先生 徐有利先生 審核委員會 梁伯韜先生 （委員會主席） 袁天凡先生 張 黔教授 ...

Core Viewpoint - The stock price of Shanghai Industrial Holdings (00363) has shown significant growth since its low in October 2022, reflecting the market's recognition of the company's long-term value despite recent short-term performance challenges [1][3]. Financial Performance - For the first half of 2025, Shanghai Industrial Holdings reported revenue of HKD 9.476 billion, a decrease of 8.6% year-on-year, and a net profit attributable to shareholders of HKD 1.042 billion, down 13.2% year-on-year [3][4]. - The decline in performance is primarily attributed to reduced sales from the real estate sector and significant impairment provisions totaling HKD 1.15 billion for inventory and investment properties [4][5]. Business Segments - The real estate sector's cyclical pressure has negatively impacted overall performance, with the company actively managing its asset structure by selling properties to recover cash [4][5]. - The infrastructure and environmental segment contributed HKD 9.33 billion in net profit, accounting for 92.2% of the company's total net profit, demonstrating its stability during downturns in other sectors [9][12]. - The consumer goods segment achieved a net profit of HKD 403 million, a year-on-year increase of 26%, driven by strong performance in tobacco and health products [9][12]. Financial Structure and Dividends - The company maintained a strong cash position of HKD 28.5 billion and reduced its interest-bearing debt to HKD 58.51 billion, improving its net debt ratio from 65.12% to 60.99% [7][12]. - The interim dividend per share remained at HKD 0.42, with a total payout of HKD 457 million, reflecting a commitment to shareholder returns despite short-term challenges [7][12]. Long-term Strategy - The company plans to focus on core urban renewal projects and enhance its asset management capabilities through the issuance of Real Estate Investment Trusts (REITs) [4][11]. - Shanghai Industrial Holdings aims to leverage opportunities in the environmental sector, particularly in wastewater and solid waste treatment, aligning with national policies on ecological protection [11][12]. - The management emphasizes a value investment approach, seeking quality investment targets in infrastructure, environmental, and consumer sectors to ensure long-term asset appreciation and shareholder returns [11][12].

Core Viewpoint - Guosen Securities maintains an "outperform" rating for Shanghai Industrial Holdings (00363), highlighting the stability of its infrastructure and environmental protection sectors, strong growth in consumer and health segments, increased dividend rate, and reduced financial costs as key supports for future investment value [1] Infrastructure and Environmental Protection Sector - The infrastructure and environmental protection sector generated revenue of HKD 44.33 billion and net profit of HKD 9.33 billion in the first half of the year, indicating stable core business performance [1] - The expressway segment reported revenue of HKD 10.19 billion, a year-on-year increase of 5.1%, with traffic volume rising by 2.1% [1] - Shanghai Industrial Environment achieved a net profit of RMB 3.44 billion, up 7.1% year-on-year, demonstrating strong resilience in solid waste and water treatment [1] Consumer and Health Sector Highlights - The consumer segment saw revenue and net profit growth of 11% and 26%, reaching HKD 19 billion and HKD 4.33 billion, respectively [2] - Nanyang Tobacco performed strongly with revenue of HKD 12.73 billion, a 16.4% increase, and net profit of HKD 3.37 billion, up 20%, with sales volume surging by 31% and successful overseas market expansion [2] - The health segment reported a net profit of HKD 1.41 billion, a significant year-on-year increase of 118.4%, primarily due to a one-time gain recognized by Shanghai Pharmaceuticals [2] Financial Improvement and Dividend Policy - The company improved its financial situation by selling Yuefeng Environmental, using part of the proceeds to repay bank loans, resulting in interest-bearing liabilities decreasing to HKD 585.13 billion and the debt-to-asset ratio falling to 51.5% [3] - Financial costs decreased by 15% year-on-year, and the company announced an interim dividend of HKD 0.42 per share for 2025, totaling HKD 4.57 billion, maintaining the same level as the previous year, while the payout ratio increased from 38% to 43.8% [3]

Group 1 - The core business of the company's infrastructure and environmental sector remains stable, with revenue of HKD 44.33 billion and net profit of HKD 9.33 billion in the first half of the year. The highway segment generated revenue of HKD 10.19 billion, a year-on-year increase of 5.1%, with traffic volume up by 2.1% [1] - The consumer and health sectors showed significant growth, with the consumer segment achieving revenue and net profit growth of 11% and 26%, respectively, reaching HKD 19 billion and HKD 4.33 billion. The Nanyang Tobacco business performed strongly, with revenue of HKD 12.73 billion, a 16.4% increase, and net profit of HKD 3.37 billion, a 20% increase, alongside a 31% rise in sales volume [2] - The company's financial situation has improved, with interest-bearing liabilities reduced to HKD 585.13 billion and the debt-to-asset ratio down to 51.5%. Financial expenses decreased by 15%. The dividend policy is positive, with an interim dividend of HKD 0.42 per share for 2025, totaling HKD 4.57 billion, maintaining the same level as the previous year, while the payout ratio increased from 38% to 43.8% [3] Group 2 - The company is expected to achieve net profits of HKD 29.34 billion, HKD 30.84 billion, and HKD 31.97 billion for the years 2025-2027, with year-on-year growth rates of 4.8%, 4.8%, and 3.7% respectively [1]

Group 1 - The event "Big Consumption Investment Summit and 2025 Zhitong Xingyao Autumn Joint Strategy Meeting" was held in Hangzhou, focusing on the theme "New Consumption Species: The Evolution of Hong Kong Stocks" [1] - In 2025, China's consumption market is witnessing a blend of tradition and innovation, with electric vehicle penetration exceeding 47%, smart home sales growing in double digits, and rural consumption growth outpacing urban by 0.8 percentage points [1] - The Hong Kong stock market is becoming a witness to consumer power, with a 100-fold subscription for consumer IPOs in the first half of the year and 71% of new stocks closing higher on their first day [1] Group 2 - The main venue will feature keynote speeches and roundtable discussions on trends, while the sub-venue will showcase opportunities from 30 top companies [2] - Keynote speakers include executives from Tencent, GF Securities, and various leading companies, sharing insights and practical experiences [4] - The sub-venue will host presentations from 30 leading companies, including China Duty Free Group, Maogeping, and others, focusing on their business opportunities [5]

（於香港註冊成立之有限公司） （股份代號：363） 有關委任獨立非執行董事及 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，並明確表示概不就因本公告全部或任何部分內容而產生或倚賴該等內容而引致之任何損失承擔任 何責任。 董事會委員會委員變更 的補充公告 茲提述上海實業控股有限公司（「本公司」）日期為二零二五年八月二十九日的公告（「該 公告」），內容有關（i）本公司委任兩名獨立非執行董事；及（ii）本公司董事會委員會委 員變更。 除文義另有所指外，本公告所用詞彙與該公告所定義者具有相同涵義。 本公司根據《上市規則》第 3.13 條就張教授及唐先生各自之獨立性確認補充以下資料。 張教授已確認： 唐先生已確認： 1 (1) 其符合《上市規則》第3.13(1)至(8)條所述的各項因素有關的獨立性； (2) 其過去或現在於本公司或其附屬公司業務中無任何財務或其他權益，以及與本公司的任 何核心關連人士（定義見《上市規則》）無任何關連；及 (3) 其於獲委任之時並無其他可能會影響其獨立性的因素。 承董事會命 上海實業控股有限公司 公司秘書 余富熙 香港，二零二 ...

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8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: | 上海實業控股有限公司 | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 III.已發行股份及/或庫存股份變動詳情 (A). 股份期權（根據發行人的股份期權計劃） 不適用 第 3 頁 共 10 頁 v 1.1.1 (B). 承諾發行發行人股份的權證 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) | 00363 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 ...