Yunfeng Financial Group Limited 雲鋒金融集團有限公司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock code 股份代號：376) Dear registered shareholder(s), 26 September 2025 Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07 of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 December 2023, t ...

Yunfeng Financial Group Limited (the "Company") – Notice of Publication of 2025 Interim Report ("Current Corporate Communications") The Current Corporate Communications of the Company has been published in English and Chinese languages and are available on the website of The Stock Exchange of Hong Kong Limited ("HKEX") at www.hkexnews.hk and the Company's website at www.yff.com. If you have any difficulty in receiving or gaining access to the Current Corporate Communications posted on the Company's website ...

(Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear registered shareholder(s), Yunfeng Financial Group Limited (the "Company") – Notice of Publication of 2025 Interim Report ("Current Corporate Communications") The Current Corporate Communications of the Company has been published in English and Chinese languages and are available on the website of The Stock Exchange of Hong Kong Limited ("HKEX") at www.hkexnews.hk and the Company's website at ww ...

Corporate Information [Board of Directors and Committees](index=4&type=section&id=Board%20of%20Directors%20and%20Committees) The Board of Directors, including executive and non-executive members, ensures sound corporate governance through its audit, remuneration, and nomination committees - The Board Chairman is **Mr. Yu Feng** (Non-executive Director), and the Executive Director is **Mr. Huang Xin** (Acting CEO)[11](index=11&type=chunk)[12](index=12&type=chunk) - The Audit Committee Chairman is **Mr. Zhu Zongyu**, the Remuneration Committee Chairman is **Mr. Qi Daqing**, and the Nomination Committee Chairman is **Mr. Yu Feng**[11](index=11&type=chunk)[12](index=12&type=chunk) [Auditor, Bankers and Offices](index=5&type=section&id=Auditor,%20Bankers%20and%20Offices) The company's auditor is KPMG, with major banks including Bank of Communications; its registered office is in Wan Chai, Hong Kong - The auditor is **KPMG**, a public interest entity auditor registered under the Accounting and Financial Reporting Council Ordinance[14](index=14&type=chunk)[15](index=15&type=chunk) - Major banks include Bank of Communications, China Construction Bank (Asia), Bank of China (Hong Kong), China Minsheng Bank, and HSBC[14](index=14&type=chunk)[15](index=15&type=chunk) - The company website is **www.yff.com**, and the stock code is **376**[15](index=15&type=chunk) Management Discussion and Analysis [Overview](index=6&type=section&id=Overview) Hong Kong's economy grew steadily in H1 2025, with YF Life's new business performing strongly, driving group total assets over HK$100 billion and net profit attributable to equity holders up 142% - Hong Kong's economy recorded steady growth in H1 2025, benefiting from strong exports and improved local demand[17](index=17&type=chunk)[21](index=21&type=chunk) - YF Life's new business performed strongly, driven by increased market demand for quality insurance products and diversified product strategies[17](index=17&type=chunk)[21](index=21&type=chunk) 2025 H1 Key Financial Indicators (HK$ million) | Indicator | 2025 H1 (HK$ million) | 2024 H1 (HK$ million) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Insurance Revenue | 1,532 | 1,378 | 11 | | Consolidated Profit | 765 | 376 | 103 | | Net Profit Attributable to Equity Holders | 486 | 201 | 142 | | Group Total Assets | >100,000 | - | - | | Annualized New Premiums (APE) | - | - | Significant Growth | | Value of New Business (VNB) | - | - | Significant Growth | [Financial Performance Review](index=7&type=section&id=FINANCIAL%20RESULT%20REVIEW) In H1 2025, the group achieved strong financial performance with net operating profit up 23% and net profit attributable to equity holders up 142%, alongside robust growth in total assets and comprehensive equity, and a 6% increase in group embedded value equity H1 2025 Consolidated Profit and Loss Analysis (HK$ million) | Indicator | 2025 | 2024 | Change Rate (%) | | :--- | :--- | :--- | :--- | | Net Operating Profit | 686 | 560 | 23 | | Net Profit Attributable to Owners | 486 | 201 | 142 | | Basic Earnings Per Share (HK$) | 0.13 | 0.05 | 160 | Consolidated Financial Position Analysis as of June 30, 2025 (HK$ million) | Indicator | June 30, 2025 | December 31, 2024 | Change Rate (%) | | :--- | :--- | :--- | :--- | | Total Assets | 105,012 | 96,042 | 9 | | Total Comprehensive Equity | 25,754 | 23,913 | 8 | | Owners' Comprehensive Equity | 17,474 | 16,168 | 8 | | Owners' Comprehensive Equity Per Share (HK$) | 4.52 | 4.18 | 8 | | Group Total Embedded Value Equity | 22,442 | 21,166 | 6 | | Owners' Group Total Embedded Value Equity | 15,143 | 14,232 | 6 | | Owners' Group Total Embedded Value Equity Per Share (HK$) | 3.915 | 3.679 | 6 | - Profit for the period was **HK$765 million**, a **103% increase** from HK$376 million in the prior year, driven by significant growth in insurance business operating profit and positive impacts from investment fair value and exchange rate changes[29](index=29&type=chunk) [Profit Analysis for the Six Months Ended June 30](index=9&type=section&id=Analysis%20on%20profit%20for%20six%20months%20period%20ended%2030%20June) YF Life's net operating profit grew 21% to HK$696 million, while other financial services and corporate segments reduced operating losses by 23% to HK$10 million, with overall profit up 103% due to positive investment returns and currency/discount rate fluctuations Profit Analysis for the Six Months Ended June 30, 2025 (HK$ million) | Indicator | 2025 | 2024 | Change Rate (%) | | :--- | :--- | :--- | :--- | | YF Life Insurance Segment Net Operating Profit | 696 | 573 | 21 | | Other Financial Services and Corporate Segment Operating Loss | (10) | (13) | (23) | | Net Operating Profit | 686 | 560 | 23 | | Short-term Fluctuations in Investment Returns, Exchange Rates, and Discount Rates Related to Insurance Business | 221 | (108) | N/A | | Profit for the Period | 765 | 376 | 103 | [Changes in Total Comprehensive Equity](index=10&type=section&id=Changes%20in%20total%20comprehensive%20equity) As of June 30, 2025, total comprehensive equity increased to HK$25.754 billion, up HK$7.65 billion from the beginning of the year, driven by profit for the period, net fair value reserves, and other net changes 2025 Changes in Total Comprehensive Equity (HK$ million) | Indicator | Amount (HK$ million) | | :--- | :--- | | Balance as of January 1 | 23,913 | | Profit for the Period | 765 | | Net Change in Exchange Reserve and Deferred Tax Impact in Reserves | 168 | | Net Fair Value Reserve and Other Net Changes | 999 | | Dividends Paid by Subsidiaries to Non-controlling Shareholders | (91) | | Balance as of June 30 | 25,754 | | Attributable to Equity Holders of the Company | 17,474 | | Attributable to Non-controlling Interests | 8,280 | [Group Embedded Value and Group Embedded Value Equity](index=11&type=section&id=Group%20embedded%20value%20and%20group%20embedded%20value%20equity) As of June 30, 2025, Group Embedded Value increased 7% to HK$20.567 billion, and Group Embedded Value Equity rose 6% to HK$22.442 billion, reflecting enhanced future profitability - Group EV is a financial metric estimating the comprehensive value of future profits from in-force policies for shareholders, excluding any economic value from future new business[34](index=34&type=chunk)[35](index=35&type=chunk) Group Embedded Value and Group Embedded Value Equity (HK$ million) | Indicator | June 30, 2025 | December 31, 2024 | Change Rate (%) | | :--- | :--- | :--- | :--- | | Group Embedded Value (Group EV) | 20,567 | 19,291 | 7 | | Goodwill and Intangible Assets, Net of Related Tax | 1,875 | 1,875 | - | | Group Embedded Value Equity (Group EV Equity) | 22,442 | 21,166 | 6 | | Attributable to Equity Holders of the Company | 15,143 | 14,232 | 6 | | Attributable to Non-controlling Interests | 7,299 | 6,934 | 5 | [Business Review](index=12&type=section&id=BUSINESS%20REVIEW) During the period, the group's insurance business showed strong growth with significant increases in new business value and annualized new premiums, driven by product diversification, expanded distribution channels, and technology adoption, supported by a stable investment portfolio and strong solvency - The insurance business is authorized to operate long-term insurance, annuity, linked long-term, permanent health insurance, and retirement scheme management in Hong Kong and Macau[38](index=38&type=chunk)[42](index=42&type=chunk) - As of June 30, 2025, the number of exclusive agents was approximately **2,791**, employees approximately **543**, and in-force individual policies exceeded **540,000**[40](index=40&type=chunk)[43](index=43&type=chunk) - 2025 marks YF Life's 50th anniversary in Hong Kong, with the launch of the new "Invesurance" brand concept to highlight its commitment to long-term protection and value enhancement for clients[45](index=45&type=chunk)[47](index=47&type=chunk) [Insurance Business Overview](index=12&type=section&id=Overview_Insurance) YF Life offers diverse insurance products in Hong Kong and Macau, expanding distribution channels and leveraging fintech partnerships, while celebrating its 50th anniversary with the "Invesurance" brand to enhance sales efficiency and customer experience - Flagship products include "Wealth Accumulation Plan,"

Group 1 - Yunfeng Financial Holdings (00376) reported an increase in shareholding from 1.636 billion shares to 1.828 billion shares, raising its holding percentage from 42.30% to 45.02% [2] - Wan Ke Yi Lian (01762) maintained its shareholding at 420 million shares, with a slight increase in holding percentage from 23.73% to 23.74% [2] - Stone Four Pharmaceutical Group (02005) increased its shareholding from 1.198 billion shares to 1.203 billion shares, with a rise in holding percentage from 40.58% to 40.75% [2] Group 2 - Guichuang Tongqiao-B (02190) saw a decrease in shareholding from 19.3872 million shares to 15.8872 million shares, with a decline in holding percentage from 6.01% to 4.93% [2] - Multiple entities, including Key Imagination Limited and Yunfeng Financial Holdings Limited, reported the same increase in shareholding for Yunfeng Financial Holdings [2] - The changes in shareholding may be influenced by corporate actions such as rights issues, consolidations, or splits [2]

Group 1 - The company Yunfeng Financial (00376) has completed a placement of shares on September 18, 2025, under the terms of the placement and subscription agreement [1] - A total of 191.3 million existing shares were successfully placed at a price of HKD 6.10 per share to no fewer than six subscribers, all of whom are independent third parties [1] - Following the completion of the subscription, the total amount raised from the subscription was approximately HKD 1.17 billion, with a net amount of approximately HKD 1.15 billion [1] Group 2 - After the completion of the placement and subscription, no subscriber has become a major shareholder of the company [1] - All conditions for the completion of the subscription have been met, leading to the issuance of 191.3 million subscription shares at the same price of HKD 6.10 per share on September 23, 2025 [1]

Core Viewpoint - Yunfeng Financial (00376.HK) has successfully completed a placement of 191.3 million existing shares at a price of HKD 6.10 per share, raising approximately HKD 11.7 billion in total proceeds, with a net amount of about HKD 11.5 billion [1] Summary by Relevant Sections - **Placement Details** - The placement was completed on September 18, 2025, with shares sold to no less than six subscribers [1] - The placement price was set at HKD 6.10 per share for a total of 191.3 million shares [1] - **Use of Proceeds** - Approximately 70% of the net proceeds (around HKD 8.05 billion) will be allocated for system facility upgrades, talent recruitment, and related capital needs, including the launch of comprehensive virtual asset trading services and virtual asset-related investment management services [1] - The remaining 30% of the net proceeds (around HKD 3.45 billion) will be used for general working capital to cover the daily operational expenses of the group [1]

Core Viewpoint - Yunfeng Financial (00376) has successfully completed a placement of shares at a price of HKD 6.10 per share, raising approximately HKD 11.7 billion in total proceeds [1] Group 1: Placement Details - The placement involved the issuance of a total of 191.3 million existing shares to no fewer than six independent third-party subscribers [1] - The placement agent acted on a best-efforts basis to complete the share placement [1] - Following the completion of the placement, no subscriber has become a major shareholder of the company [1] Group 2: Subscription Completion - All conditions for the subscription have been met, leading to the issuance of 191.3 million subscription shares at the same price of HKD 6.10 per share on September 23, 2025 [1] - The total proceeds from the subscription amount to approximately HKD 11.7 billion, with net proceeds of about HKD 11.5 billion [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 雲鋒金融集團有限公司 呈交日期： 2025年9月23日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00376 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存 ...

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