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 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。 建議採納新組織章程細則 建議採納新細則須待本公司股東（「股東」）在本公司將於二零二五年十二月十五日舉行之 應屆股東週年大會（「股東週年大會」）上以特別決議案方式批准後，方可作實，並將於股 東在股東週年大會上批准後生效。 一份載有（其中包括）建議修訂及建議採納新細則之詳情之通函，連同股東週年大會通告，將 於適當時候寄發予股東。 承董事會命 恒和珠寶集團有限公司 本公 告 乃由 恒 和珠 寶集 團 有限 公 司（「 本公司 」）根據 香港 聯 合交 易 所有 限公 司 證券 上 市規 則 （「 上市規則 」）第 13.51(1)條 作出 。 本公司董事（「董事」）會（「董事會」）建議採納新一套組織章程細則（「新細則」）以 全面取代經二零零四年十二月九日通過的特別決議採納的 ...

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 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) | 00513 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 683,118,258 | | 0 | | 683,118,258 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 683,118,258 | | 0 | | 683,118,258 | 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 (A). 股份期權（根據發行人的股份期權計劃） | 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | ...

Major Events - Lai Kai Pharmaceutical-B (02105) reported positive preliminary results from Phase I clinical MAD study, with LAE102 showing encouraging trends in muscle gain and fat loss [1] - Fuhong Hanlin (02696) received FDA approval for the Phase I clinical trial application of HLX13 for first-line treatment of unresectable hepatocellular carcinoma (HCC) patients [1] - Ningmeng Media (09857) has commenced filming the urban medical emotional drama "Asking Heart 2" [1] - CRRC Corporation (01766) and its subsidiaries signed significant contracts totaling approximately 54.34 billion [1] - Heng Rui Pharmaceutical (01276) received approval to conduct clinical trials for SHR-7787 injection, SHR-4849 injection, Bevacizumab injection, and Atezolizumab injection [1] - Hema Medical (03309) entered into a tripartite global licensing and collaboration agreement with Gilead and Hanmi regarding enecuidar [1] - Jinfang Pharmaceutical-B (02595) completed the enrollment of the first patient in the Phase I/II clinical trial of the molecular glue Pan RAS(ON) inhibitor GFH276 for RAS mutant cancer patients [1] - Gao Shi Medical (02407) obtained international certification for its medical device quality management system [1] Operating Performance - Shenzhen Expressway Company (00548) reported toll revenue of 114 million for the Outer Ring project in August [1] - China National Automobile (00026) announced an annual performance with a post-tax loss attributable to shareholders of 185 million HKD, a year-on-year reduction of 29.64% [1] - OKURA HOLDINGS (01655) reported an annual profit attributable to shareholders of 1.342 billion JPY, a year-on-year decrease of 34.34% [1] - Elephant Future Group (02309) disclosed an annual performance with a loss attributable to owners of approximately 314 million HKD, a year-on-year increase of 71.77% [1] - Henghe Group (00513) reported an annual performance with a loss attributable to owners of approximately 259 million HKD, a year-on-year increase of 0.7% [1]

Core Insights - The company reported a comprehensive income of approximately HKD 586 million for the fiscal year ending June 30, 2025, representing a year-on-year increase of 62.5% [1] - The loss attributable to the company's owners was HKD 259 million, slightly higher than the previous year's loss of HKD 257 million [1] - The basic loss per share was HKD 0.3793, compared to HKD 0.3767 in 2024 [1] Company Strategy - The company remains committed to product innovation, quality, and excellent service as its core philosophy and driving force [1] - These core advantages continue to differentiate the company and lay the foundation for maintaining its competitive edge [1] - To support growth plans, the company is actively exploring new markets and customer segments to ensure flexibility in responding to global dynamics [1]

Core Viewpoint - Henghe Group (00513) reported a significant increase in revenue for the fiscal year ending June 30, 2025, with a revenue of approximately HKD 586 million, representing a year-on-year growth of 62.55%. However, the company recorded a loss attributable to shareholders of approximately HKD 259 million, a slight increase of 0.7% year-on-year, with a loss per share of 37.93 HKD cents [1]. Revenue Performance - The increase in revenue is primarily attributed to property sales amounting to approximately HKD 221 million [1]. Loss Analysis - The annual loss is mainly due to a fair value loss on investment properties amounting to approximately HKD 276 million, along with an impairment loss on mining rights of approximately HKD 26.6 million [1].

Core Viewpoint - Henghe Group (00513) reported a revenue of approximately HKD 586 million for the year ending June 30, 2025, representing a year-on-year increase of 62.55% [1] - The company recorded a loss attributable to shareholders of approximately HKD 259 million, which is a year-on-year increase of 0.7% [1] - The loss per share was HKD 0.3793 [1] Revenue Analysis - The increase in revenue is primarily attributed to property sales amounting to approximately HKD 221 million [1] Loss Breakdown - The annual loss is mainly due to a fair value loss on investment properties amounting to approximately HKD 276 million [1] - Additionally, there was an impairment loss on mining rights of approximately HKD 26.6 million [1]

[Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Consolidated revenue grew **62.5%** to **HK$585,835 thousand**, but the loss for the year expanded to **HK$330,606 thousand** due to fair value changes and impairment losses Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Revenue** | 585,835 | 360,402 | | **Gross Profit/(Loss)** | 110,858 | (42,757) | | **Loss Before Income Tax** | (335,672) | (294,149) | | **Loss for the Year** | (330,606) | (300,314) | | **Loss Attributable to Owners of the Company** | (259,112) | (257,302) | | **Basic Loss Per Share** | (37.93) HK cents | (37.67) HK cents | - Revenue growth was primarily attributable to **HK$221,300,000** from property sales[42](index=42&type=chunk) - Loss for the year was mainly due to a **HK$276,100,000** loss from fair value changes in investment properties and a **HK$26,600,000** impairment loss on mining rights[42](index=42&type=chunk) [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) Total assets decreased, and net current liabilities expanded to **HK$388,543 thousand**, indicating liquidity pressure from reduced investment properties and mining rights Consolidated Statement of Financial Position Summary | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Non-current Assets** | 2,255,813 | 2,595,092 | | **Investment Properties** | 1,714,400 | 1,990,400 | | **Mining Rights** | 469,307 | 484,054 | | **Current Assets** | 573,266 | 771,813 | | **Properties Under Development and For Sale** | 279,398 | 485,123 | | **Cash and Cash Equivalents** | 36,358 | 49,156 | | **Current Liabilities** | (961,809) | (995,596) | | **Bank Loans (Current)** | (796,081) | (882,506) | | **Net Current Liabilities** | (388,543) | (223,783) | | **Net Assets** | 1,648,862 | 1,980,659 | | **Total Equity** | 1,648,862 | 1,980,659 | - As of June 30, 2025, the Group's current liabilities exceeded current assets by approximately **HK$388,543,000**, with **HK$796,081,000** in bank loans classified as current liabilities, while cash and cash equivalents were only **HK$36,358,000**[8](index=8&type=chunk) [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section details the basis of preparation, accounting policies, financial item composition and changes, and post-reporting events, focusing on going concern, revenue, segment performance, finance costs, tax, EPS, receivables, payables, and bank loans [Basis of Preparation](index=5&type=section&id=Basis%20of%20Preparation) Despite a **HK$259,112,000** loss and **HK$388,543,000** net current liabilities, the Board maintains a going concern basis, supported by asset sales, loan renewals, and shareholder credit lines - The Group incurred a **HK$259,112,000** loss and had **HK$388,543,000** in net current liabilities in FY2025, yet the Board believes it can continue as a going concern[8](index=8&type=chunk) - Some properties held for sale have been sold, with remaining units expected to sell within the forecast period, generating profits for bank loan repayment[8](index=8&type=chunk) - A bank loan of approximately **HK$654,694,000** was successfully renewed for three years, with **HK$606,500,000** expected to be repaid after June 30, 2026[8](index=8&type=chunk) - The controlling shareholder provided a **HK$60,000,000** credit facility for working capital, with an intention to extend it if needed[8](index=8&type=chunk) - An associated company agreed not to demand repayment of approximately **HK$38,396,000** in loans until all other third-party liabilities of the Group are settled[12](index=12&type=chunk) - The Group is considering selling certain assets to enhance liquidity and reduce debt, including the sale of all shares in its wholly-owned subsidiary, Daying Limited, for **RMB33,370,000** (approximately **HK$36,470,073**)[12](index=12&type=chunk) [Adoption of Hong Kong Financial Reporting Standards](index=7&type=section&id=Adoption%20of%20HKFRS) The Group adopted revised HKFRS effective July 1, 2024, including amendments on lease liabilities and liability classification, with no material impact on current or prior period financial performance or position - Revised Hong Kong Financial Reporting Standards, effective July 1, 2024, have been adopted, including HKFRS 16 (Revised) on lease liabilities in a sale and leaseback and HKAS 1 (Revised) on classification of liabilities as current or non-current[13](index=13&type=chunk) - These amendments had no material impact on the Group's performance or financial position for the current or prior periods[13](index=13&type=chunk) - New and amended HKFRS issued but not yet effective are listed, including HKFRS 18 Presentation and Disclosure in Financial Statements (effective January 1, 2027)[14](index=14&type=chunk) [Revenue and Segment Information](index=8&type=section&id=Revenue%20and%20Segment%20Information) Group revenue surged **62.5%** to **HK$585,835 thousand**, driven by property sales, with the property segment's loss expanding due to fair value changes, while Hong Kong revenue significantly increased [Revenue Composition](index=8&type=section&id=Revenue%20Composition) In FY2025, revenue was primarily from **HK$340,100 thousand** in goods sales and **HK$221,331 thousand** in property sales, with property sales being the main growth driver Revenue by Source | Revenue Source | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Goods Sales | 340,100 | 333,897 | | Property Sales | 221,331 | – | | Rental Income | 23,074 | 22,320 | | Interest Income | 421 | 1,833 | | Dividend Income from Investments | 909 | 2,352 | | **Total Revenue** | 585,835 | 360,402 | - Property sales contributed **HK$221,331 thousand** in FY2025, up from zero in 2024, marking the primary driver of revenue growth[15](index=15&type=chunk) [Business Segment Performance](index=9&type=section&id=Business%20Segment%20Performance) Jewellery revenue slightly increased and became profitable, property investment and development segment revenue surged but loss expanded, mining continued losses with impairment, and investment revenue and results declined Segment Revenue and Results | Segment | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Jewellery Business | 340,100 | 333,897 | 19,857 | (23,692) | | Property Investment and Development | 244,405 | 22,320 | (313,174) | (266,588) | | Mining Business | – | – | (40,211) | (1,919) | | Investments | 1,330 | 4,185 | 1,832 | 2,518 | | **Consolidated** | 585,835 | 360,402 | (331,696) | (289,681) | - The jewellery business segment returned to profitability, recording a profit of **HK$19,857 thousand**, primarily due to streamlined operations and strategic cost control measures[19](index=19&type=chunk)[44](index=44&type=chunk) - The property investment and development segment's loss expanded to **HK$313,174 thousand**, mainly due to a **HK$276,058 thousand** loss from fair value changes in investment properties[19](index=19&type=chunk)[22](index=22&type=chunk) - The mining business recorded a **HK$40,211 thousand** loss and recognized an impairment loss on mining rights of **HK$26,599 thousand**[19](index=19&type=chunk)[22

Group 1 - The core point of the article is that Henghe Group (00513.HK) has entered into a conditional sale agreement to sell its entire stake in a target company, Daying, for RMB 33.37 million [1] - The proceeds from the sale, along with an additional RMB 6.6 million from a wholly-owned subsidiary, will be used to repay part of the group's bank loans and for general working capital [1] - The main asset of the target company is a 100% interest in the Hongzhuang gold mine located in Henan Province, China, which consists of two mining areas with a total area of 5.66 square kilometers [1] Group 2 - The Hongzhuang gold mine has an estimated controlled economic reserve of approximately 10.73 tons of gold [1] - The mine also has inferred economic resources of about 5.46 tons and 24.66 tons, categorized as controlled and inferred resources respectively [1]

Group 1 - The core point of the article is that Henghe Group (00513) has announced a conditional sale agreement where Henghe Mining Holdings Limited will sell its entire issued shares of the target company, Daying Limited, along with related loans for a price of RMB 33.37 million [1] - The sale price represents a significant discount compared to the assessed market value of the equity in Henan Bafang, but the company believes it is the best and most practical outcome for itself and its shareholders [1] - The decision to sell was based on the management's assessment of the operational challenges at the Hongzhuang Gold Mine, the substantial capital expenditures required for future resumption, and the significant costs and liabilities that the buyer would assume [1]

Core Viewpoint - Henghe Group (00513) announced a conditional sale agreement with Lifan Stone Holdings Limited for the sale of all issued shares and loans of the target company, Daying Limited, for RMB 33.37 million, despite a significant discount compared to the assessed market value of Henan Bafang's equity [1] Group 1 - The sale is based on the management's assessment of the operational challenges at Hongzhuang Gold Mine and the substantial capital expenditure required for future resumption [1] - The decision reflects the company's strategic priorities and extensive efforts made to market the asset [1] - The buyer will assume significant costs and liabilities associated with the asset [1]