FF301 截至月份: 2025年10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: 太平洋網絡有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年11月5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) | 00543 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 第 1 ...

FF301 本月底法定/註冊股本總額： HKD 1,000,000,000 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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 太平洋網絡有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年10月6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) | 00543 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | H ...

[Company Information](index=3&type=section&id=%E5%85%AC%E5%8F%B8%E8%B5%84%E6%96%99) This section provides an overview of the company's governance structure, key financial relationships, and operational locations [Board of Directors and Committees](index=3&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83) This section lists the company's executive directors, independent non-executive directors, company secretary, authorized representatives, and members and chairpersons of the audit, remuneration, and nomination committees - Executive Directors include **Dr. Lam Wai Yan** (Chairman and Chief Executive Officer), **Mr. Ho Kam Wah**, and **Mr. Wong Tai Sum**[7](index=7&type=chunk) - Independent Non-Executive Directors include **Mr. Tsui Yiu Wah**, **Mr. Pak Tai Tak**, **Mr. Lam Wai Hon**, and **Ms. Li Kit Ying**[7](index=7&type=chunk) - The Audit Committee Chairman is **Mr. Tsui Yiu Wah**, the Remuneration Committee Chairman is **Mr. Tsui Yiu Wah**, and the Nomination Committee Chairman is **Dr. Lam Wai Yan**[7](index=7&type=chunk) [Principal Banks and Auditor](index=3&type=section&id=%E4%B8%BB%E8%A6%81%E5%BE%80%E6%9D%A5%E9%93%B6%E8%A1%8C) This section discloses the company's principal banks, including Bank of China and China Construction Bank, and its auditor, PricewaterhouseCoopers - Principal banks include **Bank of China**, **China Construction Bank**, **China Merchants Bank**, and **OCBC Wing Hang Bank**[7](index=7&type=chunk) - Auditor is **PricewaterhouseCoopers**[7](index=7&type=chunk) [Registered and Business Locations](index=3&type=section&id=%E6%B3%A8%E5%86%8C%E5%8A%9E) This section provides the company's registered office in the Cayman Islands, business locations in Guangzhou, China, and Hong Kong, along with the group's website and stock code - The company was incorporated in the Cayman Islands, with its registered office address at **Vistra (Cayman) Limited**[7](index=7&type=chunk) - China's main business location is in **No. 115 Gaopu Road, Tianhe District, Guangzhou**, and Hong Kong business location is in **Part of Room 807, Lippo Centre Tower Two, 89 Queensway**[8](index=8&type=chunk) - Company stock code is **543**[8](index=8&type=chunk) [Financial Statements](index=4&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's condensed consolidated interim financial statements, including profit or loss, comprehensive income, financial position, changes in equity, and cash flows [Condensed Consolidated Interim Statement of Profit or Loss](index=4&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E4%B8%AD%E6%9C%9F%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company's revenue slightly decreased year-on-year, shifting from profit to loss with a basic loss per share of **0.76 cents**, primarily due to reduced gross profit and operating losses Condensed Consolidated Interim Statement of Profit or Loss Key Data | Indicator | June 30, 2025 (RMB thousands) | June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 272,860 | 276,378 | | Cost of revenue | (192,464) | (170,936) | | Gross profit | 80,396 | 105,442 | | Operating (loss)/profit | (8,427) | 10,428 | | (Loss)/profit for the period | (8,571) | 10,130 | | Basic (loss)/earnings per share | (0.76) cents | 0.89 cents | [Condensed Consolidated Interim Statement of Comprehensive Income](index=5&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E4%B8%AD%E6%9C%9F%E5%85%A8%E9%9D%A2%E6%94%B6%E5%85%A5%E6%8A%A5%E8%A1%A8) For the six months ended June 30, 2025, the company's total comprehensive loss was **RMB 8,571 thousand**, consistent with the period's loss, compared to a comprehensive income of **RMB 10,130 thousand** in the prior year Condensed Consolidated Interim Statement of Comprehensive Income Key Data | Indicator | June 30, 2025 (RMB thousands) | June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | (Loss)/profit for the period | (8,571) | 10,130 | | Other comprehensive income | — | — | | Total comprehensive (loss)/income for the period | (8,571) | 10,130 | [Condensed Consolidated Interim Statement of Financial Position](index=6&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E4%B8%AD%E6%9C%9F%E8%B5%84%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of June 30, 2025, the company's total assets and equity decreased, with trade receivables and cash equivalents in current assets declining, while the liability structure remained stable and lease liabilities in non-current liabilities increased Condensed Consolidated Interim Statement of Financial Position Key Data | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Total assets | 867,085 | 982,297 | | Total equity | 637,203 | 695,832 | | Total liabilities | 229,882 | 286,465 | | Cash and cash equivalents | 240,030 | 263,488 | | Trade and bills receivables, other receivables and prepayments | 339,689 | 430,833 | [Condensed Consolidated Interim Statement of Changes in Equity](index=8&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E4%B8%AD%E6%9C%9F%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) For the six months ended June 30, 2025, total equity decreased due to the period's loss and cash dividend payments, with a minor positive impact from the share award scheme Condensed Consolidated Interim Statement of Changes in Equity Key Data | Indicator | June 30, 2025 (RMB thousands) | January 1, 2025 (RMB thousands) | | :--- | :--- | :--- | | Total equity | 637,203 | 695,832 | | Loss for the period | (8,571) | — | | Cash dividends related to 2024 | (51,095) | — | | Share award scheme — value of employee services | 1,358 | — | | Share award scheme — purchase of shares | (321) | — | [Condensed Consolidated Interim Statement of Cash Flows](index=9&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E4%B8%AD%E6%9C%9F%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For the six months ended June 30, 2025, net cash from operating activities significantly increased, but substantial net cash outflow from financing activities led to a net decrease in cash and cash equivalents Condensed Consolidated Interim Statement of Cash Flows Key Data | Indicator | June 30, 2025 (RMB thousands) | June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Net cash from operating activities | 28,655 | 11,469 | | Net cash (used in)/from investing activities | (172) | 18,262 | | Net cash used in financing activities | (51,767) | (48,462) | | Net decrease in cash and cash equivalents | (23,284) | (18,731) | | Cash and cash equivalents at end of period | 240,030 | 252,142 | [Notes to the Interim Financial Information](index=10&type=section&id=%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E9%99%84%E8%A8%BB) This section provides detailed notes supporting the interim financial statements, covering general information, accounting policies, financial risk management, segment information, and specific asset and liability breakdowns [General Information](index=10&type=section&id=1.%20%E4%B8%80%E8%88%AC%E8%B3%87%E6%9

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: 太平洋網絡有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年9月3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) | 00543 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 ...

Core Viewpoint - Pacific Network (00543) reported a revenue of 273 million, representing a year-on-year decrease of 1.3% and a loss attributable to equity holders of 8.571 million, compared to a profit of 10.13 million in the same period last year [1] Financial Performance - The company's gross profit decreased primarily due to an increase in outsourcing production costs [1] - The loss per share was 0.76 cents [1] Strategic Initiatives - In response to the decline of traditional banner advertising, the company has invested in developing new interactive models to create more content-driven advertising [1] - The company aims to establish a differentiated market advantage through these new initiatives [1] - There is an expectation that with scaling efforts and process optimization in the coming months, the company will manage costs more efficiently [1]

Core Viewpoint - Pacific Network (00543) reported a revenue of 273 million yuan for the six months ending June 30, 2025, representing a year-on-year decrease of 1.3% [1] - The company recorded a loss attributable to equity holders of 8.571 million yuan, compared to a profit of 10.13 million yuan in the same period last year [1] - The loss per share was 0.76 cents [1] Financial Performance - Revenue for the reporting period was 273 million yuan, down 1.3% year-on-year [1] - The company experienced a loss of 8.571 million yuan, contrasting with a profit of 10.13 million yuan in the previous year [1] - Earnings per share were reported at a loss of 0.76 cents [1] Cost and Strategy - The decrease in gross profit was primarily due to increased outsourcing production costs [1] - In response to the decline of traditional banner advertising, the company has invested in developing new interactive models to create more content-driven advertising [1] - The company aims to establish a differentiated market advantage and believes that scaling up and optimizing processes in the coming months will lead to more efficient cost management [1]

Core Viewpoint - Pacific Network (00543.HK) reported a total revenue of approximately RMB 272.9 million for the six months ending June 30, 2025, representing a year-on-year decline of 1.3% [1] - The loss attributable to equity holders was RMB 8.6 million, compared to a net profit of RMB 10.1 million for the same period in 2024 [1] Financial Performance - Total revenue for the period was approximately RMB 272,900,000 [1] - Year-on-year revenue decline was 1.3% [1] - Loss attributable to equity holders was RMB 8,600,000 [1] - Previous year's net profit for the same period was RMB 10,100,000 [1]

[Financial Performance Overview](index=1&type=section&id=I.%20Financial%20Performance%20Overview) [Condensed Consolidated Interim Statement of Profit or Loss](index=1&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Profit%20or%20Loss) During the reporting period, the company's revenue slightly decreased year-on-year, while gross profit significantly declined, leading to a shift from operating profit to loss and ultimately a net loss | Metric | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Revenue | 272,860 | 276,378 | | Cost of Revenue | (192,464) | (170,936) | | Gross Profit | 80,396 | 105,442 | | Operating (Loss)/Profit | (8,427) | 10,428 | | Loss/Profit for the Period | (8,571) | 10,130 | | Basic and Diluted Loss/Earnings Per Share (RMB cents) | (0.76) cents | 0.89 cents | [Condensed Consolidated Interim Statement of Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Comprehensive%20Income) During the reporting period, the company's total comprehensive loss matched the loss for the period at **RMB 8,571 thousand**, compared to a total comprehensive income of **RMB 10,130 thousand** in the prior year period | Metric | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Loss/Profit for the Period | (8,571) | 10,130 | | Other Comprehensive Income | — | — | | Total Comprehensive Loss/Income for the Period | (8,571) | 10,130 | [Condensed Consolidated Interim Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets and total equity both decreased, with a corresponding reduction in total liabilities | Metric | As of June 30, 2025 (RMB '000) | As of December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Total Assets | 867,085 | 982,297 | | Total Equity | 637,203 | 695,832 | | Total Liabilities | 229,882 | 286,465 | [Condensed Consolidated Interim Statement of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, the company's total equity decreased due to the loss for the period and cash dividend payments | Equity Item | Balance as of January 1, 2025 (RMB '000) | Loss for the Period (RMB '000) | Cash Dividends (RMB '000) | Balance as of June 30, 2025 (RMB '000) | | :--- | :--- | :--- | :--- | :--- | | Equity Attributable to Owners of the Company | 695,832 | (8,571) | (51,095) | 637,203 | [Condensed Consolidated Interim Statement of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Cash%20Flows) During the reporting period, net cash from operating activities significantly increased, but investing activities shifted from net inflow to net outflow, and cash outflow from financing activities increased, resulting in a net decrease in cash and cash equivalents | Cash Flow Item | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 28,655 | 11,469 | | Net Cash (Used in)/Generated from Investing Activities | (172) | 18,262 | | Net Cash Used in Financing Activities | (51,767) | (48,462) | | Net Decrease in Cash and Cash Equivalents | (23,284) | (18,731) | [Notes to the Interim Financial Information](index=8&type=section&id=II.%20Notes%20to%20the%20Interim%20Financial%20Information) [1. General Information](index=8&type=section&id=1.%20General%20Information) Pacific Online Limited is incorporated in the Cayman Islands, primarily engaged in internet advertising services in China, with shares listed on the Hong Kong Stock Exchange, and its interim financial information is presented in RMB and approved for publication by the Board - The Company is incorporated in the Cayman Islands and primarily provides internet advertising services in China[13](index=13&type=chunk)[14](index=14&type=chunk) - The Company's shares have been listed on The Stock Exchange of Hong Kong Limited since December 18, 2007[15](index=15&type=chunk) - The interim financial information is presented in RMB and was approved for issue by the Board of Directors on August 27, 2025[16](index=16&type=chunk)[17](index=17&type=chunk) [2. Basis of Preparation and Accounting Policies](index=8&type=section&id=2.%20Basis%20of%20Preparation%20and%20Accounting%20Policies) The interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 and should be read in conjunction with the annual financial report and company announcements - The interim financial information has been prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting'[18](index=18&type=chunk) - The interim financial information should be read in conjunction with the annual report for the year ended December 31, 2024, and any announcements made by the Company during the interim reporting period[18](index=18&type=chunk) [3. Accounting Policies](index=8&type=section&id=3.%20Accounting%20Policies) Except for income tax estimates and newly effective HKFRS amendments, accounting policies for the current period are consistent with the prior year, with no significant impact from new standard amendments on the Group's financial statements - The accounting policies applied are consistent with those described in the financial statements for the year ended December 31, 2024, except for the estimation of income tax based on the applicable tax rate for the expected annual total profit and the adoption of amendments to Hong Kong Financial Reporting Standards effective for the financial year ending December 31, 2025[19](index=19&type=chunk) - New standards, amendments to existing standards, and interpretations effective for the financial year beginning January 1, 2025, have had no significant impact on the Group's financial statements[19](index=19&type=chunk) [4. Segment Information](index=8&type=section&id=4.%20Segment%20Information) The Group primarily provides internet advertising services, with operating segments categorized by different internet portals (PCauto, PConline, and others), and all revenue is derived from customers in China - The reportable operating segments are PCauto, PConline, and others[21](index=21&type=chunk) - All of the Group's revenue is derived from customers in China, and most non-current assets (excluding club memberships and investments in financial assets classified as intangible assets) are located in China[24](index=24&type=chunk)[25](index=25&type=chunk) [Timing of Revenue Recognition](index=9&type=section&id=Timing%20of%20Revenue%20Recognition) The Group's revenue is primarily recognized over time, with PCauto and PConline being the main revenue sources | Timing of Revenue Recognition | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | — Over time | 206,956 | 198,642 | | — At a point in time | 65,904 | 77,736 | | **Revenue** | **272,860** | **276,378** | [Revenue from Major Customers](index=9&type=section&id=Revenue%20from%20Major%20Customers) In H1 2025, Customer A contributed **20%** of total revenue, while Customer B's contribution was less than **10%**, indicating a decrease in major customer concentration | Customer | H1 2025 Revenue Contribution | H1 2024 Revenue Contribution | | :--- | :--- | :--- | | Customer A | 20% | 21% | | Customer B | * (Less than 10%) | 10% | [5. Other Income](index=10&type=section&id=5.%20Other%20Income) Other income decreased year-on-year in H1 2025, primarily due to the absence of additional input VAT deductions during the period, though dividend income from financial asset investments increased | Other Income Item | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Rental income | 3,145 | 3,870 | | Government grants | 196 | 1,997 | | Additional input VAT deductions | — | 3,596 | | Dividend income from investments in financial assets | 2,240 | — | | **Total** | **5,581** | **9,463** | [6. Net Finance Income](index=10&type=section&id=6.%20Net%20Finance%20Income) Net finance income decreased year-on-year in H1 2025, primarily due to lower interest income and net foreign exchange losses | Finance Item | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Finance income — Interest income | 1,161 | 2,225 | | Finance costs — Interest expense on lease liabilities | (18) | (1) | | Finance costs — Net foreign exchange losses | (174) | (946) | | **Net Finance Income** | **969** | **1,278** | [7. Income Tax Expense](index=11&type=section&id=7.%20Income%20Tax%20Expense) Income tax expense decreased year-on-year in H1 2025, primarily due to deferred tax contributions, with the company's operating subsidiaries in China enjoying a **15%** preferential tax rate as high-tech enterprises | Income Tax Item | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Current tax in China | 2 | 56 | | Deferred tax | 1,111 | 1,520 | | **Total** | **1,113** | **1,576** | - The Company's operating subsidiaries in China (e.g., Guangzhou Pacific Computer) enjoy a **15%** preferential tax rate as high-tech enterprises[31](index=31&type=chunk) - Eligible Hong Kong indirect holding companies may use a lower withholding tax rate of **5%**[31](index=31&type=chunk) [8. Loss/Profit Per Share](index=12&type=section&id=8.%20Loss%2FProfit%20Per%20Share) In H1 2025, the company's basic and diluted loss per share was **0.76 RMB cents**, compared to a profit of **0.89 RMB cents** in the prior year period, primarily due to the net loss for the period [Basic Loss/Profit Per Share](index=12&type=section&id=Basic%20Loss%2FProfit%20Per%20Share) Based on the loss attributable to owners of the Company and the weighted average number of ordinary shares, the basic loss per share for H1 2025 was **0.76 RMB cents** | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Loss/Profit Attributable to Owners of the Company (RMB '000) | (8,571) | 10,130 | | Weighted Average Number of Ordinary Shares ('000 shares) | 1,133,795 | 1,134,030 | | **Basic Loss/Profit Per Share (RMB cents)** | **(0.76) cents** | **0.89 cents** | [Diluted Loss/Profit Per Share](index=12&type=section&id=Diluted%20Loss%2FProfit%20Per%20Share) Diluted loss per share is equal to basic loss per share as there were no outstanding potentially dilutive share options during the reporting period - For the six months ended June 30, 2025, and 2024, diluted loss/profit per share was equal to basic loss/profit per share, as there were no outstanding potentially dilutive share options[34](index=34&type=chunk) [9. Dividends](index=12&type=section&id=9.%20Dividends) In 2025, the company paid a final dividend of **RMB 51,102 thousand** related to 2024, and the Board does not recommend an interim dividend for H1 2025 - A final dividend of **RMB 4.5 cents** per ordinary share for 2024, totaling **RMB 51,102,000**, was paid in 2025[35](index=35&type=chunk) - The Directors do not recommend the payment of any interim dividend for the six months ended June 30, 2025[35](index=35&type=chunk) [10. Property and Equipment, Investment Properties, Intangible Assets and Right-of-Use Assets](index=13&type=section&id=10.%20Property%20and%20Equipment%2C%20Investment%20Properties%2C%20Intangible%20Assets%20and%20Right-of-Use%20Assets) As of June 30, 2025, the net book values of various non-current assets showed slight changes, with property and equipment, investment properties, and intangible assets decreasing, while right-of-use assets slightly increased | Asset Category | Net Book Value as of June 30, 2025 (RMB '000) | Net Book Value as of January 1, 2025 (RMB '000) | Change (RMB '000) | | :--- | :--- | :--- | :--- | | Right-of-use assets | 10,313 | 9,875 | +438 | | Property and equipment | 158,599 | 160,553 | -1,954 | | Investment properties | 51,622 | 52,552 | -930 | | Intangible assets | 8,777 | 9,004 | -227 | [11. Deferred Income Tax Assets](index=13&type=section&id=11.%20Deferred%20Income%20Tax%20Assets) As of June 30, 2025, total deferred income tax assets decreased, primarily influenced by changes in impairment allowance for financial assets and accrued advertising and other expenses | Deferred Income Tax Assets | As of June 30, 2025 (RMB '000) | As of December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | — Recoverable within 12 months | 2,857 | 3,530 | | — Recoverable after 12 months | 26,430 | 26,868 | | **Total** | **29,287** | **30,398** | - Credited to/(charged from) the condensed consolidated interim statement of profit or loss during the period: **RMB (1,111) thousand**[38](index=38&type=chunk) [12. Trade and Bills Receivables, Other Receivables and Prepayments](index=14&type=section&id=12.%20Trade%20and%20Bills%20Receivables%2C%20Other%20Receivables%20and%20Prepayments) As of June 30, 2025, the total of trade and bills receivables, other receivables, and prepayments significantly decreased, primarily due to a reduction in trade and bills receivables | Item | As of June 30, 2025 (RMB '000) | As of December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Trade receivables, net of impairment allowance | 307,751 | 341,959 | | Bills receivable, net of impairment allowance | 17,823 | 73,911 | | Other receivables, net of impairment allowance | 7,972 | 7,742 | | Prepaid VAT | 5,087 | 5,890 | | Prepayments to suppliers | 1,056 | 1,331 | | **Total** | **339,689** | **430,833** | [Trade Receivables, Net of Impairment Allowance](index=15&type=section&id=Trade%20Receivables%2C%20Net%20of%20Impairment%20Allowance) As of June 30, 2025, total trade receivables decreased, with an impairment allowance reversal, and credit terms generally range from three to twelve months | Aging | As of June 30, 2025 (RMB '000) | As of December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Current to 6 months | 257,154 | 288,597 | | 6 months to 1 year | 43,909 | 47,534 | | 1 to 2 years | 6,643 | 5,785 | | Over 2 years | 45 | 43 | | **Total** | **307,751** | **341,959** | - The impairment allowance for trade receivables was **RMB 108,071 thousand** at period-end, with a reversal of **RMB 1,707 thousand** during the period[40](index=40&type=chunk) [Other Receivables](index=15&type=section&id=Other%20Receivables) As of June 30, 2025, other receivables slightly increased, primarily comprising advances to employees, rental receivables, and other amounts | Item | As of June 30, 2025 (RMB '000) | As of December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Advances to employees | 4,549 | 4,244 | | Rental receivables | 134 | 268 | | Others | 3,289 | 3,230 | | **Total** | **7,972** | **7,742** | [13. Investments in Financial Assets](index=16&type=section&id=13.%20Investments%20in%20Financial%20Assets) As of June 30, 2025, the fair value of the company's investments in financial assets in private equity funds increased, with the equity interest rising to **18.18%** - The Group holds approximately **18.18%** equity interest in the fund (December 31, 2024: **15.72%**)[42](index=42&type=chunk) | Metric | H1 2025 (RMB '000) | H1 2024 (RMB '000) | | :--- | :--- | :--- | | Beginning balance | 25,594 | 31,106 | | Fair value changes | 3,174 | (4,182) | | Redemptions | — | (1,372) | | **Ending balance** | **28,768** | **25,552** | [14. Ordinary Shares](index=17&type=section&id=14.%20Ordinary%20Shares) As of June 30, 2025, the total number of ordinary shares issued by the company remained unchanged, but the number of shares held under the share award scheme significantly decreased - As of June 30, 2025, the total number of ordinary shares issued by the Company was **1,135,597,667**, which was the same as on December 31, 2024[44](index=44&type=chunk) - The number of shares held under the share award scheme decreased from **2,440,000** as of December 31, 2024, to **160,000** as of June 30, 2025[44](index=44&type=chunk) [15. Accrued Expenses and Other Payables](index=17&type=section&id=15.%20Accrued%20Expenses%20and%20Other%20Payables) As of June 30, 2025, the total of accrued expenses and other payables significantly decreased, primarily due to a reduction in accrued expenses and salaries payable | Item | As of June 30, 2025 (RMB '000) | As of December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Accrued expenses | 147,217 | 181,534 | | Salaries payable | 33,304 | 43,744 | | Other payables | 7,063 | 7,488 | | Other taxes payable | 7,422 | 17,492 | | **Total** | **195,006** | **250,258** | - Accrued expenses primarily refer to accrued service commission fees payable to advertising agencies, outsourcing production costs, and advertising expenses[45](index=45&type=chunk) [Management Discussion and Analysis](index=18&type=section&id=III.%20Management%20Discussion%20and%20Analysis) [Overall Performance](index=18&type=section&id=Overall%20Performance) Total revenue for H1 2025 decreased by **1.3%** year-on-year, but increased outsourcing production costs led to reduced gross profit, shifting the company from a net profit to a net loss compared to the prior year period. The company is investing in new interactive models to counter the decline of traditional advertising and optimize cost management - Total revenue for the first half of the year was approximately **RMB 272.9 million**, a year-on-year decrease of **1.3%**[46](index=46&type=chunk) - Loss attributable to owners of the Company was **RMB 8.6 million**, compared to a net profit of **RMB 10.1 million** in the corresponding period of 2024[46](index=46&type=chunk) - The decrease in gross profit was primarily due to increased outsourcing production costs[46](index=46&type=chunk) - The Company has invested in developing new interactive models to create more content-driven advertisements and establish market differentiation[46](index=46&type=chunk) [Revenue Analysis](index=18&type=section&id=Revenue%20Analysis) The Group's total revenue decreased by **1.3%** year-on-year, primarily due to a decline in PCauto revenue, while PConline revenue significantly grew boosted by national subsidy policies, and other business revenue decreased due to a downturn in home improvement market consumption - Revenue decreased by **1.3%** from **RMB 276.4 million** for the six months ended June 30, 2024, to **RMB 272.9 million** for the six months ended June 30, 2025[48](index=48&type=chunk) [PCauto](index=18&type=section&id=PCauto) PCauto revenue decreased by **5.4%** year-on-year, primarily due to reduced advertising spending by automakers driven by domestic EV price competition. The company is seeking growth through new products, AI-SAAS toolkits, and online-to-offline activities - PCauto revenue decreased by **5.4%** year-on-year to **RMB 224.1 million**, accounting for **82.1%** of the Group's total revenue[47](index=47&type=chunk)[48](index=48&type=chunk) - The decrease in revenue was primarily due to reduced advertising spending by automakers, influenced by domestic electric vehicle price competition[47](index=47&type=chunk)[48](index=48&type=chunk) - The Company is expanding its AI-SAAS toolkit focused on the automotive industry and continues to focus on online-to-offline activities to provide authentic content and build brand awareness[47](index=47&type=chunk) [PConline](index=18&type=section&id=PConline) PConline revenue significantly increased by **54.9%** year-on-year, primarily benefiting from national subsidy policies boosting the consumer electronics industry, which encouraged manufacturers to increase advertising spending - PConline revenue increased by **54.9%** year-on-year to **RMB 43.6 million**, accounting for **16.0%** of the Group's total revenue[47](index=47&type=chunk)[48](index=48&type=chunk) - The increase in revenue was due to increased demand from consumer electronics manufacturers, boosted by national subsidy policies[47](index=47&type=chunk)[48](index=48&type=chunk) [Other Operating Businesses](index=19&type=section&id=Other%20Operating%20Businesses) Revenue from other operating businesses decreased by **54.5%** year-on-year, primarily due to an overall decline in home improvement market consumption - Revenue from other operating businesses decreased by **54.5%** from **RMB 11.4 million** to **RMB 5.2 million**, accounting for **1.9%** of the Group's total revenue[49](index=49&type=chunk) - The decrease in revenue was primarily due to an overall decline in home improvement market consumption[49](index=49&type=chunk) [Cost and Expense Analysis](index=19&type=section&id=Cost%20and%20Expense%20Analysis) During the reporting period, cost of revenue and product development expenses increased, while selling and marketing expenses decreased, and administrative expenses slightly rose [Cost of Revenue](index=19&type=section&id=Cost%20of%20Revenue) Cost of revenue increased by **12.6%** year-on-year, primarily due to increased outsourcing production costs, leading to a decrease in gross profit margin from **38.2%** to **29.5%** - Cost of revenue increased by **12.6%** from **RMB 170.9 million** to **RMB 192.5 million**[50](index=50&type=chunk) - Primarily due to increased outsourcing production costs, the gross profit margin decreased from **38.2%** to **29.5%**[50](index=50&type=chunk) [Selling and Marketing Expenses](index=19&type=section&id=Selling%20and%20Marketing%20Expenses) Selling and marketing expenses decreased by **3.4%** year-on-year, primarily due to reduced advertising expenses during the period - Selling and marketing expenses decreased by **3.4%** from **RMB 53.7 million** to **RMB 51.8 million**[51](index=51&type=chunk) - The decrease was primarily due to reduced advertising expenses during the period[51](index=51&type=chunk) [Administrative Expenses](index=20&type=section&id=Administrative%20Expenses) Administrative expenses increased by **5.6%** year-on-year, primarily due to increased staff costs during the period - Administrative expenses increased by **5.6%** from **RMB 27.9 million** to **RMB 29.5 million**[52](index=52&type=chunk) - Primarily due to increased staff costs during the period[52](index=52&type=chunk) [Product Development Expenses](index=20&type=section&id=Product%20Development%20Expenses) Product development expenses increased by **22.0%** year-on-year, primarily due to increased staff costs and general expenses for the R&D team - Product development expenses increased by **22.0%** from **RMB 16.2 million** to **RMB 19.7 million**[53](index=53&type=chunk) - Primarily due to increased staff costs and general expenses for the Group's R&D team[53](index=53&type=chunk) [Analysis of Other Financial Items](index=20&type=section&id=Analysis%20of%20Other%20Financial%20Items) During the reporting period, impairment losses on financial assets shifted from provision to reversal, other income and net finance income decreased, other gains turned from losses to gains, and income tax expense decreased, ultimately resulting in a net loss [Net Reversal/(Provision) for Impairment Losses on Financial Assets](index=20&type=section&id=Net%20Reversal%2F%28Provision%29%20for%20Impairment%20Losses%20on%20Financial%20Assets) In H1 2025, impairment losses on financial assets shifted from provision to a net reversal of **RMB 3,500 thousand**, primarily due to the recovery of trade and bills receivables and reduced provisions - Net reversal for impairment losses on financial assets for the six months ended June 30, 2025, was **RMB 3.5 million**, compared to a net provision of **RMB 4.5 million** in the corresponding period of 2024[54](index=54&type=chunk) - The net reversal for impairment losses on financial assets was primarily due to the recovery of trade and bills receivables and reduced provisions during the period[54](index=54&type=chunk) [Other Income](index=20&type=section&id=Other%20Income) Other income decreased year-on-year in H1 2025, primarily due to the absence of additional input VAT deductions during the period - Other income for the six months ended June 30, 2025, was **RMB 5.6 million**, compared to **RMB 9.5 million** in the corresponding period of 2024[55](index=55&type=chunk) - The decrease was due to the absence of additional input VAT deductions during the period[55](index=55&type=chunk) [Net Other Gains/(Losses)](index=20&type=section&id=Net%20Other%20Gains%2F%28Losses%29) Net other gains for H1 2025 amounted to **RMB 3,200 thousand**, compared to a loss of **RMB 2,200 thousand** in the prior year period, primarily benefiting from fair value changes in private equity funds - Other gains for the six months ended June 30, 2025, were **RMB 3.2 million**, compared to other losses of **RMB 2.2 million** in the corresponding period of 2024[56](index=56&type=chunk) - The gain was primarily due to fair value changes in the fund[56](index=56&type=chunk) [Net Finance Income](index=20&type=section&id=Net%20Finance%20Income) Net finance income decreased year-on-year in H1 2025, primarily due to lower interest income - Net finance income for the six months ended June 30, 2025, was **RMB 1.0 million**, compared to **RMB 1.3 million** in the corresponding period of 2024[57](index=57&type=chunk) - The decrease was primarily due to lower interest income during the period[57](index=57&type=chunk) [Income Tax Expense](index=20&type=section&id=Income%20Tax%20Expense) Income tax expense decreased by **29.4%** year-on-year in H1 2025 - Income tax expense decreased by **29.4%** from **RMB 1.6 million** to **RMB 1.1 million**[58](index=58&type=chunk) [Net (Loss)/Profit Attributable to Owners of the Company](index=21&type=section&id=Net%20%28Loss%29%2FProfit%20Attributable%20to%20Owners%20of%20the%20Company) In H1 2025, the company shifted from a net profit in the prior year period to a net loss of **RMB 8,600 thousand** - Net loss attributable to owners of the Company for the six months ended June 30, 2025, was **RMB 8.6 million**, compared to a net profit of **RMB 10.1 million** in the corresponding period of 2024[59](index=59&type=chunk) [Liquidity and Financial Resources](index=21&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the company's cash and cash equivalents decreased, primarily due to cash dividend payments, with no external debt - As of June 30, 2025, the Group had cash and cash equivalents totaling **RMB 240.0 million**, compared to **RMB 263.5 million** as of December 31, 2024[60](index=60&type=chunk) - The decrease in cash was primarily due to cash dividend payments totaling **RMB 51.1 million** for the six months ended June 30, 2025[60](index=60&type=chunk) - As of December 31, 2024, and June 30, 2025, the Company had no external debt[60](index=60&type=chunk) [Bank Borrowings](index=21&type=section&id=Bank%20Borrowings) As of June 30, 2025, the company had no bank borrowings, resulting in a gearing ratio of zero - As of June 30, 2025, the Group had no bank borrowings, and therefore, its gearing ratio (total bank borrowings to shareholders' equity) was zero[61](index=61&type=chunk) [Significant Acquisitions and Disposals](index=21&type=section&id=Significant%20Acquisitions%20and%20Disposals) In H1 2025, the company did not undertake any significant acquisitions or disposals of subsidiaries and associates - For the six months ended June 30, 2025, the Group had no significant acquisitions or disposals of subsidiaries and associates[62](index=62&type=chunk) [Pledge of Assets](index=21&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the company had not pledged any assets to secure bank financing - As of June 30, 2025, the Group had not pledged bank deposits or other assets to secure its bank financing[63](index=63&type=chunk) [Foreign Exchange Risk](index=21&type=section&id=Foreign%20Exchange%20Risk) The company's operating activities are primarily conducted and settled in RMB in mainland China, thus the overall foreign exchange risk is not significant - The Group's operating activities are primarily conducted in mainland China, with most transactions denominated and settled in RMB[64](index=64&type=chunk) - The overall foreign exchange risk is considered not significant[64](index=64&type=chunk) [Employees and Remuneration Information](index=21&type=section&id=Employees%20and%20Remuneration%20Information) As of June 30, 2025, the company's employee count slightly decreased, and operations were optimized through internal restructuring and process simplification, with remuneration determined by performance and qualifications - As of June 30, 2025, the Group had **731** employees (December 31, 2024: **733**), a **0.3%** decrease in H1 2025[65](index=65&type=chunk) - The Group continues to advance its internal restructuring and streamline its support operations[65](index=65&type=chunk) - The Group determines employee remuneration based on factors such as performance and qualifications[65](index=65&type=chunk) [Corporate Governance and Other Information](index=22&type=section&id=IV.%20Corporate%20Governance%20and%20Other%20Information) [Purchase, Sale or Redemption of the Company's Listed Securities](index=22&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) In H1 2025, neither the company nor its subsidiaries purchased, redeemed, or sold any of its listed securities, nor did it hold any treasury shares - For the six months ended June 30, 2025, neither the Company nor its subsidiaries purchased, redeemed, or sold any of the Company's listed securities[66](index=66&type=chunk) - As of June 30, 2025, the Company did not hold any treasury shares[67](index=67&type=chunk) [Audit Committee](index=22&type=section&id=Audit%20Committee) The company's Audit Committee comprises four independent non-executive directors, responsible for reviewing accounting principles, audit, risk management, internal controls, and financial reporting matters, and has reviewed these interim results - The Company's Audit Committee comprises all four independent non-executive Directors of the Company[68](index=68&type=chunk) - The Audit Committee has reviewed the accounting principles and practices adopted by the Group and discussed matters related to audit, risk management, internal controls, and financial reporting, including the review of these interim results[68](index=68&type=chunk) [Corporate Governance](index=22&type=section&id=Corporate%20Governance) As of June 30, 2025, the company complied with the Stock Exchange's Corporate Governance Code, though the roles of Chairman and Chief Executive Officer are not separated, with Dr. Lam Wai Yan holding both positions, which the Board believes benefits the Group's business - For the six months ended June 30, 2025, the Company has complied with the code provisions set out in the Corporate Governance Code contained in Appendix C1 to the Rules Governing the Listing of Securities on the Stock Exchange[69](index=69&type=chunk) - Code Provision C.2.1 stipulates that the roles of Chairman and Chief Executive Officer should be separate, but Dr. Lam Wai Yan currently holds both positions as Chairman and Chief Executive Officer of the Company[69](index=69&type=chunk) - The Board believes that this structure provides strong and consistent leadership for the Group, leading to more efficient and effective business planning and decision-making, as well as in executing long-term business strategies, which is beneficial to the Group's business prospects[69](index=69&type=chunk) [Acknowledgements](index=22&type=section&id=Acknowledgements) The Chairman of the Board, on behalf of the Board, extends sincere gratitude to all employees and shareholders - The Chairman of the Board, on behalf of the Board, extends sincere gratitude to all employees who have contributed to the Group and all shareholders who have continuously supported the Group[70](index=70&type=chunk) [Board of Directors](index=23&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors comprises three executive directors and four independent non-executive directors - The Board includes three executive directors: Dr. Lam Wai Yan, Mr. Ho Kam Wah, and Mr. Wang Da Xin[71](index=71&type=chunk) - The Board includes four independent non-executive directors: Mr. Tsui Yiu Wah, Mr. Pak Tai Tak, Mr. Lam Wai Hon, and Ms. Li Kit Ying[71](index=71&type=chunk)

Core Viewpoint - Pacific Network (00543.HK) announced that it will hold a board meeting on August 27, 2025, to consider and approve the publication of its interim results for the six months ending June 30, 2025, and to discuss the proposal for an interim dividend, if any [1] Group 1 - The board meeting is scheduled for August 27, 2025 [1] - The agenda includes the approval of the interim results announcement for the six months ending June 30, 2025 [1] - The meeting will also consider the proposal for an interim dividend [1]

承董事會命 太平洋網絡有限公司 主席 林懷仁 香港，2025年8月15日 （股份代號：543） 董事會會議召開日期 太平洋網絡有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將於2025年 8月27日（星期三）舉行董事會會議，其中議程包括考慮及批准刊發本公司及其附屬 公司截至2025年6月30日止六個月之綜合中期業績公告，以及考慮派發中期股息之 建議（如有）。 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，概不對因本公告全部或任何 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。 PACIFIC ONLINE LIMITED （於開曼群島註冊成立之有限公司） 太平洋網絡有限公司 於本公告日期，董事會包括三位執行董事，分別為林懷仁博士、何錦華先生及王大 鑫先生；以及四位獨立非執行董事，分別為徐耀華先生、白泰德先生、林懷漢先生 及李潔英女士。 ...