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佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈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。 CHINA TONTINE WINES GROUP LIMITED 中國通天酒業集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：389） 有關復牌進展之季度更新； 及 繼續暫停買賣 本公佈乃由中國通天酒業集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及香港法例第571章證券 及期貨條例第XIVA部而作出。 茲提述(i)本公司日期為二零二四年八月二十九日之公佈，內容有關延遲發佈二零二四年 中期業績及延遲寄發二零二四年中期報告；(ii)本公司日期為二零二四年九月二日之公佈， 內容有關本公司股份暫停買賣；(iii)本公司日期為二零二四年九月三十日之公佈，內容有 關進一步延遲發佈二零二四年中期業績及進一步延遲寄發二零二四年中期報告；(iv)本公 司日期為二零二四年十二月二日之公佈，內容有關復牌指引及有關復牌進展之季度更新（ ...

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: 中國通天酒業集團有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 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) | 00389 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000 | 本月底法定/註冊 ...

登記股東姓名及地址 CHINA TONTINE WINES GROUP LIMITED 中國通天酒業集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：389） 致：選擇╱被視為同意閱覽本公司在其網站發佈之公司通訊以代替收取印刷本之股東 根據香港聯合交易所有限公司證券上市規則第2.07A(3)條，股東有權隨時透過轉交本公司香港股份過戶及登記 分處卓佳證券登記有限公司（地址為香港夏慤道16號遠東金融中心17樓），向本公司發出合理書面通知，更改 收取本公司日後公司通訊方式。倘股東選擇以電子方式收取所有日後公司通訊，而基於任何原因在收取或瀏 覽公司通訊時遇到困難，本公司將應股東要求盡快免費向該名股東寄送公司通訊之印刷本，惟郵誤風險由其 承擔。倘股東對本函件及╱或如何收取刊載於本公司網站之現有公司通訊印刷本有任何疑問，請於星期一至 星期五上午九時正至下午五時三十分致電卓佳證券登記有限公司客戶服務熱線(852) 2980 1333查詢，香港公眾 假期除外。 此 致 列位股東 台照 代表 中國通天酒業集團有限公司 主席、行政總裁兼執行董事 孫佳良 謹啟 二零二五年八月二十八日 敬啟者： 閱覽通知－二零二五年中期報告 ...

CHINA TONTINE WINES GROUP LIMITED 中國通天酒業集團有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立的有限公司） (Stock Code: 389) （股份代號：389） 28 August 2025 Dear Non-Registered Holder of securities of China Tontine Wines Group Limited (the "Company") Notification of publication of 2025 Interim Report (the "Current Corporate Communication") We hereby notify you that the Interim Report 2025 (the "Current Corporate Communications") of the Company, in both English and Chinese versions, are now available on the C ...

Financial Highlights 財務概覽 Six months ended 30 June 截至六月三十日止六個月 | | 2025 | 2024 | | --- | --- | --- | | | 二零二五年 | 二零二四年 | | | RMB'000 | RMB'000 | | | 人民幣千元 | 人民幣千元 | | | (Unaudited) | (Unaudited) | | | （未經審核） | （未經審核） | | Profitability data 盈利能力數據 | | | | Revenue 收益 | 59,695 | 56,141 | | Gross profit 毛利 | 7,454 | 6,737 | | Profit (loss) and total comprehensive income (expense) for | | | | the period attributable to owners of the Company | | | | 本公司擁有人應佔期內溢利（虧損）及全面收益（開支）總額 | 62 | (260,872) | | Earnings (loss) ...

Group 1 - The core viewpoint of the article highlights that Tongtian Wine Industry (00389) reported a revenue of 59.695 million RMB for the six months ending June 30, 2025, representing a year-on-year growth of 6.3% [1] - The company recorded a profit attributable to owners and total comprehensive income of 62,000 RMB, a significant recovery from a loss of 261 million RMB in the same period last year [1] - Basic earnings per share were reported at 0.02 RMB [1] Group 2 - The increase in revenue is attributed to stable growth in demand for high-end wine products in China, which helped maintain stable sales and gross margins for the company's high-end wine segment [1]

Core Viewpoint - Tongtian Wine Industry (00389.HK) reported a revenue increase of approximately 6% to around RMB 59.695 million for the six months ending June 30, 2025, driven by stable demand for high-end wine products in China [1] Financial Performance - The profit attributable to owners and non-controlling interests for the period was approximately RMB 460,000, a significant recovery from a loss of about RMB 26 million in the same period of 2024 [1] - Basic and diluted earnings per share were RMB 0.02, compared to a loss of RMB 0.8651 per share in 2024 [1] Market Dynamics - The slight increase in revenue was primarily due to stable growth in demand for high-end wine products in China, which helped maintain stable sales and gross margins for the company's high-end wine offerings [1]

Group 1 - The core viewpoint of the article is that Tongtian Wine Industry (00389) reported a revenue of 59.695 million yuan for the six months ending June 30, 2025, representing a year-on-year growth of 6.3% [1] - The company recorded a profit attributable to owners of 62,000 yuan, a significant recovery from a loss of 261 million yuan in the same period last year [1] - Basic earnings per share were reported at 0.02 cents [1] Group 2 - The slight increase in revenue is primarily attributed to stable growth in demand for high-end wine products in China, which helped maintain stable sales and gross margins for the company's high-end wine segment [1]

[FINANCIAL HIGHLIGHTS](index=1&type=section&id=FINANCIAL%20HIGHLIGHTS) This section provides a concise overview of the company's key financial performance indicators for the first half of 2025 Key Financial Indicators for the Six Months Ended June 30, 2025 | Indicator | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | Approx. RMB 59,695,000 | Approx. RMB 56,141,000 | Up approx. 6% | | Gross Profit | Approx. RMB 7,454,000 | Approx. RMB 6,737,000 | Up approx. 6% | | Profit (Loss) for the Period | Approx. RMB 460,000 | Approx. RMB (260,872,000) | Turned loss into profit | | Basic and Diluted Earnings (Loss) Per Share | RMB 0.02 cents | RMB (86.51) cents | Turned loss into profit | [CONDENSED CONSOLIDATED FINANCIAL STATEMENTS](index=2&type=section&id=CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) [CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME](index=2&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20PROFIT%20OR%20LOSS%20AND%20OTHER%20COMPREHENSIVE%20INCOME) The company turned loss into profit in the first half of 2025, recording a profit of RMB 0.46 million, compared to a loss of RMB 261 million in the same period last year, primarily due to significant impairment losses on biological assets, inventories, property, plant and equipment, and trade receivables in the prior period, which did not recur in the current period, alongside an approximate 6% year-on-year increase in revenue Condensed Consolidated Statement of Profit or Loss (For the six months ended June 30) | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Revenue** | **59,695** | **56,141** | | Cost of Sales | (52,241) | (49,404) | | **Gross Profit** | **7,454** | **6,737** | | Other income, gains and losses | 113 | (91,362) | | Selling and distribution expenses | (2,059) | (2,686) | | Administrative and other operating expenses | (4,448) | (8,810) | | Impairment losses | 92 (net reversal) | (160,585) | | **Profit (Loss) before tax** | **642** | **(260,928)** | | Income tax expense | (182) | (16) | | **Total Profit (Loss) for the period** | **460** | **(260,944)** | | Profit (Loss) attributable to owners of the Company | 62 | (260,872) | | **Basic Earnings (Loss) Per Share** | **0.02 RMB cents** | **(86.51) RMB cents** | [CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION](index=3&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20FINANCIAL%20POSITION) As of June 30, 2025, the company's financial position remained stable, with total assets of RMB 218 million and net assets of RMB 158 million, both showing a slight increase from the end of 2024, notably, bank and cash balances significantly increased from RMB 0.755 million to RMB 38.06 million, indicating a substantial improvement in liquidity Summary of Condensed Consolidated Statement of Financial Position | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Non-current assets** | **28,241** | **28,668** | | **Current assets** | **190,107** | **188,766** | | Of which: Inventories | 60,205 | 48,700 | | Of which: Trade receivables | 71,016 | 76,680 | | Of which: Bank and cash balances | 38,060 | 755 | | **Current liabilities** | **60,456** | **60,109** | | **Non-current liabilities** | **107** | **–** | | **Net assets** | **157,785** | **157,325** | | **Total equity** | **157,785** | **157,325** | [Notes to the Financial Statements](index=4&type=section&id=Notes%20to%20the%20Financial%20Statements) [Revenue and Segment Information](index=4&type=section&id=Revenue%20and%20Segment%20Information) The Group's core business is the manufacturing and sale of wine products in China, representing its sole operating segment, with sweet wine sales revenue doubling year-on-year, while dry wine sales, the primary revenue driver, slightly decreased, and brandy and other product revenues remained relatively stable - The Group is primarily engaged in the manufacturing and sale of wine products in China, which constitutes its sole reportable operating segment, with all revenue, assets, and liabilities primarily attributable to the China region[18](index=18&type=chunk)[19](index=19&type=chunk) Revenue Analysis by Major Product Category (For the six months ended June 30) | Product Category | 2025 (RMB thousands) | 2024 (RMB thousands) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Sweet Wine | 5,160 | 2,549 | Up 102.4% | | Dry Wine | 43,398 | 44,850 | Down 3.2% | | Brandy | 4,818 | 5,078 | Down 5.1% | | Others | 6,319 | 3,664 | Up 72.5% | | **Total** | **59,695** | **56,141** | **Up 6.3%** | [Dividends](index=8&type=section&id=Dividends) The Board did not recommend the payment of any interim dividend for the six months ended June 30, 2025, consistent with the policy for the same period last year - No dividends were paid or proposed by the company for the six months ended June 30, 2025 and 2024[31](index=31&type=chunk)[33](index=33&type=chunk) [Earnings (Loss) Per Share](index=8&type=section&id=Earnings%20%28Loss%29%20Per%20Share) In the first half of 2025, the company's basic and diluted earnings per share were both RMB 0.02 cents, marking a significant performance turnaround compared to a loss per share of RMB 86.51 cents in the same period of 2024 Earnings (Loss) Per Share Calculation | Item | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Profit (Loss) used for calculation (RMB thousands) | 62 | (260,872) | | Weighted average number of ordinary shares (thousands of shares) | 301,562 | 301,562 | | **Basic and Diluted Earnings (Loss) Per Share (RMB cents)** | **0.02** | **(86.51)** | [Trade Receivables and Payables](index=9&type=section&id=Trade%20Receivables%20and%20Payables) As of June 30, 2025, trade receivables amounted to RMB 71.02 million, a slight decrease from the beginning of the period, with 93% of accounts aged within 90 days, indicating a healthy status, while trade payables increased slightly to RMB 16.27 million Aging Analysis of Trade Receivables | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | 0 to 90 days | 65,959 | 68,837 | | 91 to 180 days | 751 | 4,237 | | 181 to 365 days | 821 | 117 | | Over 365 days | 3,485 | 3,489 | | **Total** | **71,016** | **76,680** | Aging Analysis of Trade Payables | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | 0 to 90 days | 7,562 | 7,973 | | 91 to 180 days | 1,337 | 4,385 | | 181 to 365 days | 2,359 | 2,627 | | Over 365 days | 5,010 | 312 | | **Total** | **16,268** | **15,297** | [MANAGEMENT DISCUSSION AND ANALYSIS](index=11&type=section&id=MANAGEMENT%20DISCUSSION%20AND%20ANALYSIS) [Loss of Control of Certain Subsidiaries](index=11&type=section&id=Loss%20of%20Control%20of%20Certain%20Subsidiaries) The company continues to face a loss of control over its key subsidiaries in Tonghua, held by former executive directors, consequently, the financial positions of these subsidiaries were not consolidated into the Group's financial statements for the reporting period, and the Board is developing measures to mitigate losses - The company's key subsidiaries in Tonghua, China, remain in a state of lost control, and therefore their financial positions have not been consolidated into the financial statements for this interim period[44](index=44&type=chunk)[47](index=47&type=chunk) [Industry Overview](index=11&type=section&id=Industry%20Overview) In the first half of 2025, China's overall consumer market experienced a moderate recovery, yet the wine industry faced severe challenges with domestic production significantly declining by 26.7% year-on-year, while the imported wine market showed a trend of "decreasing volume but increasing value," indicating a shift towards higher quality and premium products - China's economy continued to recover, with total retail sales of consumer goods increasing by **5.0%** year-on-year in the first half of 2025, and tobacco and alcohol sales growing by **5.5%**[45](index=45&type=chunk)[48](index=48&type=chunk) - The domestic wine industry faced difficulties, with wine production by enterprises above designated size significantly decreasing by **26.7%** year-on-year, and market recovery yet to materialize[45](index=45&type=chunk)[48](index=48&type=chunk) - The imported wine market showed a "decreasing volume, increasing value" phenomenon: import volume decreased by **12.67%** year-on-year, but total import value increased by **1.45%**, indicating a premiumization trend in consumption[46](index=46&type=chunk)[49](index=49&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) Against the backdrop of an industry downturn, the Group recorded total revenue of RMB 59.7 million in the first half of 2025, an increase of approximately 6% year-on-year, successfully turning a loss into a profit of RMB 0.46 million, primarily due to a substantial impairment charge of RMB 251 million on assets of the Tonghua subsidiaries, which were no longer under control, in the prior period, with no such impact in the current period - In the first half of 2025, the Group's total revenue was **RMB 59,695,000**, representing an approximate **6%** year-on-year increase, with sweet wine and dry wine sales accounting for **81%** of total revenue[52](index=52&type=chunk)[55](index=55&type=chunk) - The Group recorded a total profit and comprehensive income of **RMB 460,000**, compared to a total loss of **RMB 260,944,000** in the same period last year, with the performance turnaround primarily attributed to an impairment charge of **RMB 250,956,000** on the assets of the Tonghua subsidiaries in the prior period due to the inability to obtain their financial information[54](index=54&type=chunk)[55](index=55&type=chunk) [Operation Review](index=13&type=section&id=Operation%20Review) Facing challenges, the Group accelerated the development of its mid-to-high-end product lines and expanded health-oriented products, with production at the Shandong base increasing by 37.35% year-on-year, while the East China market contributed 78% of revenue as the core market, and online sales showed strong performance, accounting for 60% and becoming the primary sales channel - The Group's production base in Baiyanghe, Shandong, produced **3,475 metric tons** of various products, an increase of approximately **37.35%** compared to **2,530 metric tons** in the same period last year[61](index=61&type=chunk)[64](index=64&type=chunk) Revenue by Region and Channel Distribution | Dimension | Item | Revenue Contribution | | :--- | :--- | :--- | | **Regional Distribution** | East China | 78% | | | North China | 12% | | | Central-South China | 7% | | | Southwest China | 2% | | **Channel Distribution** | Online Sales | 60% | | | Offline Sales | 40% | - The company's strategy includes accelerating R&D for mid-to-high-end product lines, diversifying mass-market offerings (e.g., low-alcohol, organic products), optimizing its O2O sales network, and integrating big data and AI technologies to enhance supply chain efficiency[57](index=57&type=chunk)[58](index=58&type=chunk) [Business Prospects](index=15&type=section&id=Business%20Prospects) Despite the market being at a historical low, the Group believes new structural opportunities are emerging, and in the future, the company plans to align with trends of "light and easy-to-drink" beverages and category diversification by introducing Japanese alcoholic beverages like sake, aiming to create a "wine + Japanese light beverage" second growth curve targeting young and female consumers, while continuously strengthening the refined operation of e-commerce and social e-commerce channels - The company believes online channels remain a growth engine, expecting e-commerce and social e-commerce to continue capturing structural demand following industry consolidation[66](index=66&type=chunk)[68](index=68&type=chunk) - To adapt to market changes, the company plans to introduce Japanese alcoholic beverages such as sake, leveraging their 'low-alcohol, easy-to-drink, and food-pairing friendly' attributes to create a "wine + Japanese light beverage" second growth curve, targeting young and female consumers[67](index=67&type=chunk)[69](index=69&type=chunk) [Other Corporate Information](index=16&type=section&id=Other%20Corporate%20Information) [LIQUIDITY AND FINANCIAL RESOURCES](index=16&type=section&id=LIQUIDITY%20AND%20FINANCIAL%20RESOURCES) The Group maintains a healthy liquidity position, primarily funding its operations through internal operating cash flow, with cash and cash equivalents (excluding Tonghua subsidiaries for which financial information is unavailable) amounting to approximately RMB 38.06 million as of June 30, 2025 - The Group maintains a sound and positive working capital position, funding its operations through internal cash flows generated from operations[75](index=75&type=chunk)[78](index=78&type=chunk) - As of June 30, 2025, the Group's cash and cash equivalents amounted to approximately **RMB 38,060,000** (excluding Tonghua subsidiaries)[75](index=75&type=chunk)[78](index=78&type=chunk) [Employment and remuneration policy](index=17&type=section&id=Employment%20and%20remuneration%20policy) As of June 30, 2025, the Group (excluding Tonghua subsidiaries) employed 82 staff members, consistent with the end of 2024, and total salaries and related costs for the reporting period were approximately RMB 1.46 million, a significant decrease from RMB 9.15 million in the same period last year Staff and Remuneration Costs | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Number of employees (excluding Tonghua) | 82 | 82 | | **Item** | **For the six months ended June 30, 2025** | **For the six months ended June 30, 2024** | | Total salaries and related costs (RMB) | Approx. 1,460,000 | Approx. 9,149,000 | [Share Option Scheme](index=17&type=section&id=Share%20Option%20Scheme) As of June 30, 2025, a total of 29,405,480 unexercised share options were outstanding under the share option scheme, representing 10% of the company's issued shares, with no new options granted, exercised, or lapsed during the reporting period - As of June 30, 2025, the total number of granted but unexercised share options was **29,405,480**, with an exercise price of **HKD 0.92** and a weighted average remaining contractual life of **0.46 years**[83](index=83&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk) - During the six months ended June 30, 2025, no share options were exercised, granted, lapsed, or forfeited[90](index=90&type=chunk)[91](index=91&type=chunk)[93](index=93&type=chunk) [CORPORATE GOVERNANCE](index=19&type=section&id=CORPORATE%20GOVERNANCE) The company complied with the principles of the Corporate Governance Code during the reporting period, with one deviation: the roles of Chairman and Chief Executive Officer were not separated, both held by Mr. Sun Jialiang, an arrangement the Board believes facilitates the Group's management and decision-making efficiency - The company deviated from the Corporate Governance Code's requirement for separation of the roles of Chairman and Chief Executive Officer, with Mr. Sun Jialiang holding both positions, an arrangement the Board believes contributes to efficient decision-making[99](index=99&type=chunk)[103](index=103&type=chunk)

格隆汇8月7日丨通天酒业(00389.HK)公告，公司网站将由"www.tontine-wines.com.hk"更改 为"www.00389.hk"，自2025年8月7日起生效。公司就刊登于香港联合交易所有限公司网站提交的所有公 布、通告或其他文件亦将于此公司新网站刊登。 ...