日本共生(00627)发布公告，日本共生集团有限公司董事会建议将公司现有英文名称由"Japan Kyosei Group Company Limited"更改为"Vision Synergy Holdings Limited"，并采纳中文名称"共生智筑控股有限 公司"作为公司新第二名称，以取代现有第二名称"日本共生集团有限公司"。 ...

格隆汇9月5日丨日本共生(00627.HK)公布，董事会建议将公司现有英文名称由"Japan Kyosei Group Company Limited"更改为"Vision Synergy Holdings Limited"，并采纳中文名称"共生智筑控股有限公司"作 为公司新第二名称，以取代现有第二名称"日本共生集团有限公司"。 ...

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，概不會就因本公告全部或任何部分內 容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 JAPAN KYOSEI GROUP COMPANY LIMITED 日本共生集團有限公司 （於百慕達註冊成立的有限公司） （股份代號：00627） 建議更改公司名稱 建議更改公司名稱 日本共生集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會 （「董事會」）建議將本公司現有英文名稱由「Japan Kyosei Group Company Limited」更改 為「Vision Synergy Holdings Limited」，並採納中文名稱「共生智築控股有限公司」作為本 公司新第二名稱，以取代現有第二名稱「日本共生集團有限公司」（「建議更改公司名 稱」）。 –1– (i) 本公司股東（「股東」）於本公司將予召開的股東特別大會（「股東特別大會」）上通過 特別決議案，以批准建議更改公司名稱；及 (ii) 百慕達公司註冊處處長已批准建議更改公司名稱。 待達成上文所載條件後，建議更 ...

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 公司名稱: 日本共生集團有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 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 | 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) | 00627 | 說明 | 股份 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | 本月底 ...

Group 1 - The company reported a total revenue of 33.193 million yuan, representing a year-on-year decline of 45.3% [1] - The loss attributable to the company's owners was 12.726 million yuan, which narrowed by 95.8% year-on-year [1] - The basic loss per share was 0.90 fen [1]

Core Viewpoint - Japan Kyosei (00627) reported a significant reduction in shareholder losses for the first half of 2025, despite a notable decline in total revenue [1] Financial Performance - Total revenue for the company was 33.19 million RMB, representing a year-on-year decrease of 45.3% [1] - The loss attributable to shareholders was 12.726 million RMB, which is a 95.8% reduction compared to the previous year [1] - Basic loss per share was reported at 0.90 cents [1]

[Interim Results Summary](index=1&type=section&id=Interim%20Results%20Summary) The group reported a **45% decrease in revenue** to RMB 33.19 million, a **101% increase in gross profit** to RMB 0.87 million, and a **96% reduction in loss for the period** to RMB 13.43 million | Indicator | 2025 (RMB million) | 2024 (RMB million) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 33.19 | 60.71 | (45%) | | Gross Profit / (Loss) | 0.87 | (63.78) | 101% | | Loss Before Tax | (13.40) | (332.42) | (96%) | | Loss for the Period | (13.43) | (312.01) | (96%) | | Basic Loss Per Share (RMB cents) | (0.90) | (21.29) | (96%) | [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The condensed consolidated financial statements present the group's financial performance and position, highlighting a significant reduction in loss for the period and persistent net current liabilities [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) For the six months ended June 30, 2025, the group's revenue decreased by 45% to RMB 33.19 million, gross profit turned positive, and loss for the period significantly narrowed by 96% due to reduced finance costs and impairment losses | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Total Revenue | 33,193 | 60,712 | | Cost of Sales | (32,325) | (124,493) | | Gross Profit / (Loss) | 868 | (63,781) | | Other Income | 33 | 274 | | Net Other Gains and Losses | 3,220 | (6,279) | | Selling and Distribution Expenses | (652) | (2,760) | | Administrative Expenses | (7,180) | (18,271) | | Impairment Losses | – | (51,889) | | Finance Costs | (9,384) | (185,365) | | Loss Before Tax | (13,397) | (332,421) | | Loss for the Period | (13,432) | (312,012) | | Total Comprehensive Expense for the Period | (6,746) | (317,200) | | Basic Loss Per Share (RMB cents) | (0.90) | (21.29) | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the group reported total non-current assets of RMB 18.05 million, total current assets of RMB 3,514.48 million, net current liabilities of RMB 1,824.20 million, and a total deficit of RMB 1,813.48 million, indicating ongoing financial pressure | Indicator | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | **Assets** | | | | Non-current Assets | 18,051 | 18,356 | | Current Assets | 3,514,484 | 3,494,570 | | **Liabilities** | | | | Current Liabilities | 5,338,679 | 5,312,324 | | Non-current Liabilities | 7,336 | 7,336 | | **Equity** | | | | Net Current Liabilities | (1,824,195) | (1,817,754) | | Total Assets Less Current Liabilities | (1,806,144) | (1,799,398) | | Deficit Attributable to Owners of the Company | (1,879,337) | (1,873,297) | | Total Deficit | (1,813,480) | (1,806,734) | [Notes to the Condensed Consolidated Financial Information](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Information) These notes provide detailed explanations of the group's accounting policies, financial performance, and position, including segment information, impairment losses, and ongoing litigation [1. Basis of Preparation](index=6&type=section&id=1.%20Basis%20of%20Preparation) The condensed consolidated interim financial information is prepared in accordance with HKAS 34, with management addressing ongoing concern issues such as losses, net current liabilities, and loan defaults - The condensed consolidated interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[10](index=10&type=chunk) - The group recorded a net loss of approximately **RMB 13.4 million** for the period, a total deficit attributable to owners of the Company of approximately **RMB 1.8793 billion**, and net current liabilities exceeding current assets by approximately **RMB 1.8242 billion**[11](index=11&type=chunk) - The group was unable to repay borrowings totaling approximately **RMB 151.5 million** and related accrued interest of approximately **RMB 37.1 million** by their scheduled repayment dates, resulting in approximately **RMB 188.6 million** of defaulted borrowings becoming immediately repayable[11](index=11&type=chunk) - Management has formulated plans and measures to improve liquidity and financial position, including generating operating cash flows from new business opportunities, negotiating new or renewed loans with lenders, and controlling administrative costs[12](index=12&type=chunk) [2. Significant Accounting Policies](index=7&type=section&id=2.%20Significant%20Accounting%20Policies) The condensed consolidated financial information is prepared on a historical cost basis, with investment properties and certain financial assets measured at fair value, and recent HKFRS amendments having no material impact - The condensed consolidated financial information is prepared on a historical cost basis, except for investment properties and certain financial assets measured at fair value through other comprehensive income[13](index=13&type=chunk) - The application of amendments to Hong Kong Financial Reporting Standards, including HKAS 21 (Amendment) The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability, had no material impact on the group's financial position and performance during the interim period[14](index=14&type=chunk) [3. Revenue](index=7&type=section&id=3.%20Revenue) Total revenue for the period decreased by 45% to RMB 33.19 million, primarily due to a significant reduction in property sales, partially offset by new supply chain business revenue of RMB 30 million | Revenue Source | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Sales of Completed Properties | 3,024 | 60,295 | | Sales of Goods | 30,000 | – | | Rental Income | 169 | 417 | | **Total Revenue** | **33,193** | **60,712** | - The new supply chain business contributed **RMB 30,000 thousand** in revenue during the period[17](index=17&type=chunk) - All revenue from customer contracts is recognized at a point in time and entirely derived from the China market[16](index=16&type=chunk) [4. Segment Information](index=9&type=section&id=4.%20Segment%20Information) The group operates in property development, property investment, and supply chain segments, with property development revenue significantly declining while the new supply chain business contributes to revenue | Segment | 2025 Revenue (RMB thousand) | 2024 Revenue (RMB thousand) | | :--- | :--- | :--- | | Property Development | 3,024 | 60,295 | | Property Investment | 169 | 417 | | Supply Chain Business | 30,000 | – | | **Total Segments** | **33,193** | **60,712** | | Segment | 2025 Profit / (Loss) (RMB thousand) | 2024 Loss (RMB thousand) | | :--- | :--- | :--- | | Property Development | (2,277) | (76,100) | | Property Investment | 129 | (5,035) | | Supply Chain Business | 141 | – | | **Total Segments** | **(2,007)** | **(81,135)** | | Segment Assets | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Property Development | 1,008,939 | 1,011,323 | | Property Investment | 7,119 | 7,113 | | Supply Chain Business | 30,000 | – | | **Total Segments** | **1,046,058** | **1,018,436** | | Unallocated | 2,486,477 | 2,494,490 | | **Total Consolidated Assets** | **3,532,535** | **3,512,926** | | Segment Liabilities | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Property Development | 1,229,251 | 1,231,563 | | Property Investment | 167 | 167 | | Supply Chain Business | 29,894 | – | | **Total Segments** | **1,259,312** | **1,231,730** | | Unallocated | 4,086,703 | 4,087,930 | | **Total Consolidated Liabilities** | **5,346,015** | **5,319,660** | [5. Impairment Losses](index=11&type=section&id=5.%20Impairment%20Losses) No impairment losses were recognized in the current period, a significant improvement compared to the RMB 51.89 million impairment losses recorded in the prior period related to former subsidiaries and non-controlling interests | Source of Impairment Losses | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Amounts Due from a Former Subsidiary | – | 31,489 | | Amounts Due from Non-controlling Interests | – | 20,400 | | **Total** | **–** | **51,889** | [6. Other Income, Gains and Losses](index=12&type=section&id=6.%20Other%20Income%2C%20Gains%20and%20Losses) Other income for the period was RMB 33 thousand, and net other gains and losses were RMB 3,220 thousand, primarily driven by net exchange gains, contrasting with prior period exchange losses | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | **Other Income** | | | | Rental Income from Short-term Leases of Completed Properties Held for Sale | – | 116 | | Bank Interest Income | 7 | 108 | | Others | 26 | 50 | | **Subtotal** | **33** | **274** | | **Net Other Gains and Losses** | | | | Gain on Disposal of Property, Plant and Equipment | – | 14 | | Net Exchange Gains / (Losses) | 3,220 | (6,293) | | **Subtotal** | **3,220** | **(6,279)** | [7. Finance Costs](index=12&type=section&id=7.%20Finance%20Costs) Finance costs significantly decreased by approximately 95% to RMB 9,384 thousand, primarily due to a substantial reduction in interest on bank and other borrowings | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Interest on Bank and Other Borrowings | 9,384 | 180,798 | | Interest on Contract Liabilities | – | 4,567 | | **Total** | **9,384** | **185,365** | [8. Income Tax (Expense) / Credit](index=13&type=section&id=8.%20Income%20Tax%20%28Expense%29%20%2F%20Credit) The group recorded an income tax expense of RMB 35 thousand for the period, compared to an income tax credit of RMB 20,409 thousand in the prior period, mainly due to the reversal of an over-provision for land appreciation tax | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Current Tax Expense / (Credit) | | | | China Corporate Income Tax | 35 | 2,497 | | Land Appreciation Tax | – | (22,821) | | **Subtotal** | **35** | **(20,324)** | | Deferred Tax Credit | – | (85) | | **Total** | **35** | **(20,409)** | - The prior year's income tax credit was primarily due to the recognition of an over-provision for land appreciation tax from the previous year[24](index=24&type=chunk) [9. Loss for the Period](index=14&type=section&id=9.%20Loss%20for%20the%20Period) The loss for the period is calculated after deducting costs of properties sold, cost of goods sold, and staff costs, with no impairment losses on properties under development or held for sale in the current period | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Cost of Properties Held for Sale Included in Cost of Sales | 2,605 | 124,471 | | Cost of Goods Sold Included in Cost of Sales | 29,700 | – | | Impairment Losses on Properties Under Development / Held for Sale Included in Cost of Sales | – | 58,425 | | Depreciation of Property, Plant and Equipment | 4 | 997 | | Total Staff Costs | 3,080 | 7,981 | [10. Dividends](index=14&type=section&id=10.%20Dividends) No dividends were paid or proposed to the company's shareholders for the six months ended June 30, 2025, or 2024 - No dividends were paid or proposed to the Company's shareholders for the six months ended June 30, 2025 and 2024[26](index=26&type=chunk) [11. Loss Per Share](index=15&type=section&id=11.%20Loss%20Per%20Share) Basic and diluted loss per share attributable to owners of the company significantly narrowed to RMB 0.90 cents for the six months ended June 30, 2025, from RMB 21.29 cents in the prior period | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Loss for the Period Attributable to Owners of the Company | (12,726) | (302,399) | | Basic Loss Per Share (RMB cents) | (0.90) | (21.29) | | Diluted Loss Per Share (RMB cents) | (0.90) | (21.29) | - Diluted loss per share is equal to basic loss per share as there were no dilutive potential ordinary shares outstanding during the period[30](index=30&type=chunk) [12. Investment Properties](index=15&type=section&id=12.%20Investment%20Properties) The group's investment properties, located in China, are measured using the fair value model and maintained an unchanged fair value at the end of the period - All of the group's interests in properties held under operating leases to earn rentals or for capital appreciation, or both, are measured using the fair value model and classified and accounted for as investment properties[31](index=31&type=chunk) - Investment properties are located in China[32](index=32&type=chunk) [13. Properties Under Development / Properties Held for Sale](index=16&type=section&id=13.%20Properties%20Under%20Development%20%2F%20Properties%20Held%20for%20Sale) As of June 30, 2025, properties under development remained at RMB 122.66 million, while properties held for sale slightly decreased to RMB 259.75 million | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Properties Under Development | 122,660 | 122,660 | | Properties Held for Sale | 259,745 | 262,002 | | **Total** | **382,405** | **384,662** | [14. Receivables and Prepayments](index=16&type=section&id=14.%20Receivables%20and%20Prepayments) Total receivables and prepayments amounted to RMB 3,094.06 million as of June 30, 2025, with a substantial portion comprising unsecured, interest-free, and on-demand amounts due from former subsidiaries | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade and Other Receivables and Prepayments | 3,086,957 | 3,064,427 | | Prepayments to Suppliers | 5,889 | 5,990 | | Prepaid Other Taxes | 1,209 | 1,203 | | **Total** | **3,094,055** | **3,071,647** | - Other receivables and prepayments include amounts due from former subsidiaries of approximately **RMB 3,040,547,000** (2024: approximately **RMB 3,047,745,000**), which are unsecured, interest-free, and repayable on demand[35](index=35&type=chunk) | Trade Receivables Ageing | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | 0 to 90 Days | 30,000 | – | | **Total** | **30,000** | **–** | [15. Disposal of a Subsidiary](index=17&type=section&id=15.%20Disposal%20of%20a%20Subsidiary) The group disposed of its equity interest in Hunan Asia-Pacific Meilifang Investment Property Co., Ltd. on May 21, 2024, resulting in a disposal loss of approximately RMB 4.315 million and a net cash inflow of RMB 459 thousand - The group disposed of its equity interest in Hunan Asia-Pacific Meilifang Investment Property Co., Ltd. on May 21, 2024, resulting in a disposal loss of approximately **RMB 4,315,000**[37](index=37&type=chunk)[38](index=38&type=chunk) - The net cash inflow from the disposal of Hunan Asia-Pacific was **RMB 459,000**[38](index=38&type=chunk) [16. Payables and Accrued Expenses](index=18&type=section&id=16.%20Payables%20and%20Accrued%20Expenses) Total payables and accrued expenses were RMB 4,921.50 million as of June 30, 2025, primarily consisting of amounts due to former subsidiaries and including a financial guarantee provision of RMB 599.78 million | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade and Other Payables and Accrued Expenses | 3,679,990 | 3,661,098 | | Interest Payable | 50,662 | 41,285 | | Other Taxes Payable | 189,755 | 178,552 | | Financial Guarantee Provision | 599,775 | 599,775 | | **Total** | **4,921,496** | **4,898,797** | - Other payables and accrued expenses include amounts due to former subsidiaries of **RMB 3,123,068,000** (2024: **RMB 3,140,253,000**), which are unsecured, interest-free, and repayable on demand[39](index=39&type=chunk) | Trade Payables Ageing | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | 0 to 60 Days | 29,700 | – | | Over One Year | 43 | 43 | | **Total** | **29,743** | **43** | [17. Borrowings](index=19&type=section&id=17.%20Borrowings) The group's total borrowings amounted to RMB 194.69 million, including those subject to repayment on demand, with new borrowings of RMB 889 thousand raised and no repayments made during the period | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Other Loans | 194,691 | 193,860 | | Borrowings Not Subject to Repayment on Demand Clause | 153,823 | 152,992 | | Borrowings Subject to Repayment on Demand Clause | 40,868 | 40,868 | | **Total** | **194,691** | **193,860** | - For the six months ended June 30, 2025, the group raised new borrowings of approximately **RMB 889,000** and made no repayments of borrowings[41](index=41&type=chunk) [18. Share Capital](index=19&type=section&id=18.%20Share%20Capital) As of June 30, 2025, the company's authorized share capital was 50 billion shares, with 1,420,673,262 issued and fully paid shares, each with a par value of HKD 0.01 | Item | Number of Shares | Amount (HKD thousand) | Equivalent Amount (RMB thousand) | | :--- | :--- | :--- | :--- | | Authorized Share Capital (Par Value HKD 0.01 per share) | 50,000,000,000 | 500,000 | 423,381 | | Issued and Fully Paid Share Capital (Par Value HKD 0.01 per share) | 1,420,673,262 | 14,207 | 12,924 | [19. Pledge of Assets](index=20&type=section&id=19.%20Pledge%20of%20Assets) The group's properties under development and properties held for sale, totaling RMB 295.44 million, are pledged as security for bank and other financing, as well as customer mortgage loans | Pledged Assets | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Properties Under Development | 122,660 | 122,660 | | Properties Held for Sale | 172,781 | 172,781 | | **Total** | **295,441** | **295,441** | - Certain shares of the group's subsidiaries are pledged as security for certain borrowings granted to the group[45](index=45&type=chunk) [20. Other Commitments](index=20&type=section&id=20.%20Other%20Commitments) As of the reporting period end, the group had contracted but unprovided property development commitments totaling RMB 1,373 thousand | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Commitments for Property Development Contracted but Not Provided for in the Condensed Consolidated Financial Information | 1,373 | 1,373 | [21. Litigation](index=20&type=section&id=21.%20Litigation) The group is involved in various legal proceedings arising in the ordinary course of business, with provisions made when outcomes can be reliably estimated and are probable - Provisions are made for potential losses from claims when management, based on judgment and legal advice, can reliably estimate the outcome of the litigation[47](index=47&type=chunk) - No provisions are made for outstanding litigation when the outcome cannot be reliably estimated or when management believes that an outflow of resources is not probable[47](index=47&type=chunk) [22. Events After the Reporting Period](index=20&type=section&id=22.%20Events%20After%20the%20Reporting%20Period) No significant events occurred after the reporting date and up to the date of the condensed consolidated financial statements - No significant events occurred after the reporting date and up to the date of these condensed consolidated financial statements[48](index=48&type=chunk) [Management Discussion and Analysis](index=21&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the group's operational performance, financial position, and future strategies, including business segment reviews, operating expenses, and outlook [Overall Review](index=21&type=section&id=Overall%20Review) The group's core business remains focused on property development and investment, with a new expansion into the supply chain sector, which has contributed new revenue despite a significant decline in property sales - The group's principal business remains concentrated in the property sector, encompassing property development and property investment, and has further expanded into the supply chain sector[49](index=49&type=chunk) [Property Development](index=21&type=section&id=Property%20Development) Property sales revenue significantly decreased by 95.0% to RMB 3.024 million, primarily due to the continued contraction of the real estate market in lower-tier cities | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Property Sales Revenue | 3,024 | 60,295 | (95.0%) | - Property sales revenue during the period was solely from Hunan Province, whereas in prior periods it was from Zhejiang, Hunan, Fujian, and Guangdong Provinces in mainland China[49](index=49&type=chunk) - The significant decline in sales was due to the continued contraction of the real estate market in second-tier, third-tier, and lower-tier cities, which experienced insufficient recovery[49](index=49&type=chunk) [Property Investment](index=21&type=section&id=Property%20Investment) Rental income from property investment was RMB 169 thousand, primarily from commercial investment properties in Changsha, with the fair value of the investment property portfolio remaining unchanged | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Rental Income | 169 | 417 | - Rental income primarily derived from commercial investment properties in Changsha[50](index=50&type=chunk) - The fair value of the group's investment property portfolio remained unchanged as of June 30, 2025[51](index=51&type=chunk) [Supply Chain Business](index=21&type=section&id=Supply%20Chain%20Business) The group successfully expanded into the supply chain sector within China, contributing approximately RMB 30 million in revenue, leveraging its control over properties and logistics facilities - The group has successfully expanded its business into the supply chain sector within China, contributing revenue of approximately **RMB 30,000,000** during the period[52](index=52&type=chunk) - This diversification leverages the group's direct control over properties, warehousing facilities, and logistics centers, creating synergistic revenue streams[52](index=52&type=chunk) [Operating Expenses](index=22&type=section&id=Operating%20Expenses) Both selling and distribution expenses and administrative expenses significantly decreased, leading to an improved expense-to-revenue ratio for the period | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | Expense-to-Revenue Ratio (2025) | Expense-to-Revenue Ratio (2024) | | :--- | :--- | :--- | :--- | :--- | | Selling and Distribution Expenses | 652 | 2,760 | 1.96% | 4.55% | | Administrative Expenses | 7,180 | 18,271 | 21.63% | 30.09% | [Finance Costs](index=22&type=section&id=Finance%20Costs) Finance costs for the period substantially decreased to RMB 9,384 thousand, a significant reduction from RMB 185,365 thousand in the prior period | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Finance Costs | 9,384 | 185,365 | [Income Tax Expense](index=22&type=section&id=Income%20Tax%20Expense) The group recorded an income tax expense of RMB 35 thousand, contrasting with an income tax credit of RMB 20,409 thousand in the prior period, mainly due to the reversal of an over-provision for land appreciation tax | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Income Tax Expense / (Credit) | 35 | (20,409) | - The prior year's income tax credit was primarily due to the recognition of an over-provision for land appreciation tax from the previous year[55](index=55&type=chunk) [Outlook](index=22&type=section&id=Outlook) Facing a challenging property market, the group plans strategic growth initiatives, including geographical expansion into high-potential markets like Guangzhou, Shenzhen, Japan, and Australia, and diversifying its business into modern logistics and data centers - The China property market continues to face uncertainties, and the operating environment remains highly volatile, making 2025 an extremely challenging year for the group[56](index=56&type=chunk) - The group will expand its geographical footprint, actively seizing quality development opportunities in major cities like Guangzhou and Shenzhen, while also exploring high-potential Asian markets, including Japan and Australia[56](index=56&type=chunk) - The group will strategically enrich its business portfolio by accelerating investments in modern logistics warehousing, distribution centers, and data centers to respond to growing demand driven by e-commerce, cloud computing, and economic digitalization[57](index=57&type=chunk) [Events After Review Period](index=23&type=section&id=Events%20After%20Review%20Period) No significant events occurred after the reporting date - No significant events occurred after the reporting date[58](index=58&type=chunk) [Interim Dividend](index=23&type=section&id=Interim%20Dividend) The Board of Directors resolved not to declare an interim dividend for the period - The Board of Directors resolved not to declare an interim dividend for the period (prior period: nil)[59](index=59&type=chunk) [Corporate Governance and Other Information](index=23&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section details the company's adherence to corporate governance standards, including compliance with the Listing Rules, securities trading codes, and the audit committee's review of interim results [Corporate Governance](index=23&type=section&id=Corporate%20Governance) The group complied with the Corporate Governance Code provisions, except for the combined roles of Chairman and Chief Executive Officer, which the Board believes has sufficient safeguards for power balance - The group has complied with the code provisions set out in Appendix C1 to the Listing Rules throughout the period, except that the roles of chairman and chief executive officer should be separate and not performed by the same individual[60](index=60&type=chunk) - The functions of the Company's Chairman and Chief Executive Officer are currently performed by Dr. Jin Zibo, an executive director and Chief Executive Officer, and the Board believes there are sufficient safeguards to ensure an appropriate balance of power within the Board[60](index=60&type=chunk) [Standard Code for Securities Transactions](index=24&type=section&id=Standard%20Code%20for%20Securities%20Transactions) The company adopted the Standard Code for Securities Transactions by Directors of Listed Issuers, and all directors confirmed compliance during the period - The Company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules, and each Director has confirmed compliance with the required standards set out in the Standard Code throughout the period[61](index=61&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=24&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities for the six months ended June 30, 2025 - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[62](index=62&type=chunk) [Interim Results Reviewed by the Audit Committee](index=24&type=section&id=Interim%20Results%20Reviewed%20by%20the%20Audit%20Committee) The company's Audit Committee, comprising three independent non-executive directors, reviewed the group's unaudited interim results for the period - The Company's Audit Committee, currently comprising three independent non-executive directors, is primarily responsible for reviewing, examining, and overseeing the Company's financial reporting process, financial reporting, risk management, and internal control systems[63](index=63&type=chunk) - The Audit Committee has reviewed the group's unaudited interim results for the period[63](index=63&type=chunk) [Publication of Interim Results and 2025 Interim Report on HKEX and Company Website](index=24&type=section&id=Publication%20of%20Interim%20Results%20and%202025%20Interim%20Report%20on%20HKEX%20and%20Company%20Website) This interim results announcement is published on the HKEX and company websites, with the full 2025 interim report to be dispatched to shareholders and published in due course - This interim results announcement is published on the website of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company's website (www.jkgc.com.hk)[64](index=64&type=chunk) - The 2025 Interim Report, containing all information required by the Listing Rules, will be dispatched to the Company's shareholders and published on the HKEX website and the Company's website in due course[64](index=64&type=chunk)

Core Viewpoint - The company expects to report a net loss of approximately RMB 11 million to RMB 13 million for the six months ending June 30, 2025, compared to a net loss of approximately RMB 312 million for the same period in 2024 [1] Financial Performance - The expected gross profit for the reporting period is not less than approximately RMB 800,000, a significant improvement from a gross loss of approximately RMB 63.8 million in the previous year [1] - The company will not recognize impairment losses during the reporting period, whereas it recognized approximately RMB 51.9 million in impairment losses in the same period last year [1] - Administrative expenses are expected to be around RMB 7.2 million, down from approximately RMB 18.3 million in the previous year [1] - Financial costs are anticipated to be approximately RMB 9.4 million, a decrease from approximately RMB 185 million in the same period last year [1]

Core Viewpoint - The company expects a net loss of approximately RMB 11 million to RMB 13 million for the six months ending June 30, 2025, compared to a net loss of approximately RMB 312 million in the same period of 2024 [1] Financial Performance - The expected gross profit for the reporting period is not less than approximately RMB 800,000, while the gross loss for the same period last year was approximately RMB 63.8 million [1] - The company did not recognize impairment losses during the reporting period, whereas it recognized approximately RMB 51.9 million in impairment losses in the same period last year [1] - Administrative expenses are expected to be approximately RMB 7.2 million, down from approximately RMB 18.3 million in the same period last year [1] - Financial costs are expected to be approximately RMB 9.4 million, compared to approximately RMB 185 million in the same period last year [1]

Core Viewpoint - Japan Kyoei (00627.HK) anticipates a net loss of approximately RMB 11 million to RMB 13 million for the six months ending June 30, 2025, compared to a net loss of approximately RMB 312 million in the same period of 2024 [1][2] Financial Performance - The expected net loss is primarily attributed to several factors: - Anticipated gross profit of no less than approximately RMB 800,000, compared to a gross loss of approximately RMB 63.8 million in the previous year [1] - No impairment losses expected for the reporting period, whereas approximately RMB 51.9 million was recognized in the same period last year [1] - Projected administrative expenses of approximately RMB 7.2 million, down from approximately RMB 18.3 million in the previous year [1] - Expected financial costs of approximately RMB 9.4 million, significantly lower than the RMB 185.4 million incurred in the same period last year [1]