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 | 2025年9月30日 | | --- | | 截至月份: 狀態: 新提交 | 呈交日期: 2025年10月2日 致：香港交易及結算所有限公司 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) | 00635 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | 本月底法定/ ...

PLAYMATES HOLDINGS LIMITED 彩星集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：635） 敬啟者： 致現有股東函件－選擇收取公司通訊之語言版本及方式 本公司現附上本公司二零二五年中期報告以供閱覽。 倘 閣下希望變更所收取之所有日後公司通訊之語言版本及╱或方式，務請填妥及簽署隨附之申請表 格，並使用申請表格上之郵寄標籤寄交至本公司股份過戶登記分處卓佳證券登記有限公司（「過戶處」）。 為支持環保及節省印刷及郵遞費用，本公司建議 閣下選擇透過本公司網站(www.playmates.net)閱覽公司 通訊。倘 閣下選擇以電子方式收取所有公司通訊，本公司將於公司通訊刊載於本公司網站時，以電郵 或印刷信函方式向 閣下發出通知。 務請注意：所有公司通訊之中、英文版本可於本公司網站(www.playmates.net)及香港聯合交易所有限公司 網站(www.hkex.com.hk)閱覽。 閣下如對本函有任何疑問，請於營業時間內（星期一至星期五上午九時正至下午五時三十分，香港公眾假 期除外）致電查詢熱線(852) 2980 1333。 此致 列位股東 台照 代表 彩星集團有限公司* 吳家欣 ...

敬啟者： 致新登記股東之函件－選擇收取公司通訊的語言版本及方式 隨函附上本公司二零二五年中期報告以供閱覽。 根據香港聯合交易所有限公司證券上市規則第2.07A及2.07B條及本公司之公司細則，本公司謹致函 閣 下，以確定 閣下日後收取公司通訊時所選擇之語言版本及╱或收取方式。 閣下可選擇： PLAYMATES HOLDINGS LIMITED 彩星集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：635） 代表 彩星集團有限公司* 吳家欣 公司秘書 謹啓 為支持環保及節省印刷及郵遞費用，本公司建議 閣下選擇透過本公司網站閱覽公司通訊。 閣下作出選擇 時，務請填妥及簽署隨附之回條（「回條」），並使用回條上之郵寄標籤寄交至本公司股份過戶登記分處卓 佳證券登記有限公司（「過戶處」）。 倘本公司於二零二五年十月二日前仍未接獲 閣下填妥及簽署之回條，及直至 閣下於任何時間向過戶處 發出合理書面通知之前， 閣下將被視為已同意透過本公司網站閱覽所有日後之公司通訊，以代替收取印 刷本。日後當公司通訊刊載於本公司網站時，本公司將僅以電郵或印刷信函方式向 閣下發出通知。 即使 閣下已作出選擇， 閣下仍有權隨時向過戶處發 ...

PLAYMATES HOLDINGS LIMITED 彩星集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：635） 敬啟者： 於彩星集團有限公司*（「本公司」）網站刊發關於二零二五年中期報告（「該文件」）之通知 本公司謹通知 閣下，本公司之該文件（中英文版本）現已登載於本公司網站(www.playmates.net)。 閣下 可於本公司網站內閱覽該文件及所有日後公司通訊。 * 僅供識別 本公司將於公司通訊刊發日期通過電子郵件或郵寄方式向非登記股東發送公司通訊之網站版本的登載通 知，該通知將同時提供英文和中文版本。為支援通過電子郵件方式進行公司通訊，本公司建議 閣下向 其代持有股份之銀行、證券行、託管商、代理人或中央結算系統參與者提供電郵地址。 倘 閣下擬收取該文件之印刷本，請填妥隨附之申請表格及利用郵寄標籤寄回本公司香港股份過戶登記 分處卓佳證券登記有限公司。收到申請後，該等印刷本將免費寄發予 閣下。 請注意， 閣下填妥及寄回申請表格以索取印刷本後，即表示 閣下確認擬收取本公司日後刊發的所有公 司通訊之印刷本，直至 閣下另行通知為止。 倘 閣下對本通知有任何查詢，請於星期一至星期五（香港公眾假期除 ...

[Management Discussion and Analysis](index=3&type=section&id=Management%20Discussion%20and%20Analysis) This section outlines Playmates Group's overall operating performance in H1 2025, covering key financial metrics such as revenue, gross profit, operating loss, and loss per share across its three main business segments: Property Investment and Management, Playmates Toys, and Portfolio Investments [Overview](index=3&type=section&id=Overview) In H1 2025, Playmates Group's total revenue significantly decreased by 50.4% year-on-year to HK$261.1 million, mainly due to a 58.3% drop in toy sales, leading to expanded operating loss and increased loss attributable to owners of the Company Key Financial Indicators Comparison for H1 2025 (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Group Revenue | 261,116 | 526,666 | -50.4% | | - Toy Business | 185,514 | 445,141 | -58.3% | | - Property Investment and Management Business | 74,800 | 79,339 | -5.7% | | - Investment Business | 802 | 2,186 | -63.3% | | Gross Profit | 146,835 | 324,137 | -54.7% | | Net Revaluation Loss on Investment Properties | (234,926) | (249,529) | -5.8% | | Operating Loss | (227,641) | (121,081) | +88.0% | | Loss Before Income Tax | (198,940) | (80,414) | +147.4% | | Loss Attributable to Owners of the Company | (205,570) | (159,880) | +28.6% | | Basic Loss Per Share (HK cents) | (9.94) | (7.72) | +28.8% | | Interim Dividend Per Share (HK cents) | 1.50 | 1.50 | 0.0% | - Group's overall revenue significantly decreased by **50.4% year-on-year**, primarily due to a **58.3% reduction in toy business revenue**[5](index=5&type=chunk) - Operating loss expanded by **88.0% year-on-year** to **HK$228 million**, mainly impacted by underperforming toy business and investment property revaluation losses[5](index=5&type=chunk) [Property Investment and Management](index=3&type=section&id=Property%20Investment%20and%20Management) In H1 2025, revenue for the Property Investment and Management segment decreased by 5.7% year-on-year to HK$74.8 million, with a net revaluation loss of HK$235 million on investment properties, resulting in a segment operating loss of HK$183 million Property Investment and Management Segment Performance (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 74,800 | 79,339 | -5.7% | | Net Revaluation Loss on Investment Properties | (234,926) | (249,529) | -5.8% | | Segment Operating Loss (including revaluation) | (183,100) | (190,300) | -3.8% | - The fair value of investment properties was **HK$4.2 billion**, with a **net revaluation loss of HK$235 million** recognized in the consolidated income statement[6](index=6&type=chunk) - The Group remains optimistic about the long-term prospects of property investment, aiming to balance its portfolio for capital appreciation and recurring income growth[10](index=10&type=chunk) [Property Investment](index=4&type=section&id=Property%20Investment) The Group's main investment properties include commercial, residential, and industrial properties in Hong Kong, with overseas properties accounting for 9.6% of the total portfolio, experiencing a 5.1% decline in rental income and a drop in overall occupancy rate Investment Property Rental Income and Occupancy Rate | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Total Rental Income (HK$ thousand) | 65,000 | 68,500 | -5.1% | | Overall Occupancy Rate | 58.8% | 60.3% (Dec 31, 2024) | -1.5 percentage points | - Overseas investment properties accounted for **9.6% of the Group's total investment property portfolio fair value**, an increase from **8.6% at the end of 2024**[7](index=7&type=chunk) - The planning application for converting Tuen Mun Playmates Industrial Building to commercial use has received conditional approval, with subsequent approval procedures underway[9](index=9&type=chunk) [Commercial](index=4&type=section&id=Commercial) Hong Kong's retail and commercial property markets continued to face challenges in H1 2025, primarily due to changing spending patterns of inbound tourists and an oversupply of office space - Hong Kong's retail and commercial property markets continued to face challenges in H1 2025, primarily due to changing spending patterns of inbound tourists and an oversupply of office space[8](index=8&type=chunk) [Residential](index=4&type=section&id=Residential) The residential market performed weakly in a challenging economic environment, but renovation of Mid-Levels units is expected to enhance long-term value - The residential market performed weakly in a challenging economic environment, but renovation of Mid-Levels units is expected to enhance long-term value[8](index=8&type=chunk) [Industrial](index=4&type=section&id=Industrial) The planning application for converting Playmates Industrial Building in Tuen Mun to commercial use was conditionally approved in January 2020, with subsequent approval procedures ongoing - The planning application for converting Playmates Industrial Building to commercial use was conditionally approved in January 2020, with subsequent approval procedures ongoing[9](index=9&type=chunk) [Property Management](index=5&type=section&id=Property%20Management) Property management business revenue decreased by 9.3% year-on-year to HK$9.8 million, with Savills Property Management Limited appointed to provide comprehensive services for key buildings Property Management Business Revenue (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 9,800 | 10,800 | -9.3% | - Savills Property Management Limited manages Playmates Group Building and Playmates Industrial Building, providing comprehensive property management services[10](index=10&type=chunk) [Playmates Toys](index=5&type=section&id=Playmates%20Toys) In H1 2025, Playmates Toys' global revenue significantly decreased by 58% to HK$186 million, shifting from profit to a loss of HK$45 million due to reduced product shipments, lack of brand entertainment, and trade tensions Playmates Toys Segment Performance (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Global Revenue | 186,000 | 445,000 | -58.2% | | Toy Sales Gross Profit Margin | 43% | 56% | -13 percentage points | | Operating Loss/(Profit) | (45,000) | 68,000 | Shift from profit to loss | | Net Loss/(Profit) | (25,600) | 91,500 | Shift from profit to loss | - Revenue decline primarily attributed to reduced shipments of **"Godzilla x Kong" products**, lack of major entertainment events for the **"Teenage Mutant Ninja Turtles" brand**, and escalating trade tensions[11](index=11&type=chunk) - Gross profit margin decreased due to **tariffs on US imports**, increased proportion of **product development and tooling costs**, and higher clearance costs for discontinued products[11](index=11&type=chunk) - The Group is prudently evaluating alternative sourcing options and plans to implement **selective price adjustments in Q3 2025** to mitigate negative tariff pressures[13](index=13&type=chunk) [Brand Overview](index=6&type=section&id=Brand%20Overview) Playmates Toys actively develops new product lines to coincide with entertainment content releases for its key brands, including "Teenage Mutant Ninja Turtles," "Power Rangers," "Godzilla x Kong," and "Winx," ensuring continuous market engagement - The Group is actively developing new products to coincide with the launch of entertainment content such as the **"Teenage Mutant Ninja Turtles" Paramount+ series and movie sequel**[14](index=14&type=chunk) - A global licensing agreement with Hasbro grants the Group authorization to manufacture and distribute **"Power Rangers" toys**, with initial shipments receiving positive market feedback[15](index=15&type=chunk) - The **"Winx Club: The Magic Is Back" CGI reboot animation** will premiere on Netflix in October 2025, with the Group simultaneously launching new fashion doll and role-play toy lines[17](index=17&type=chunk) [Teenage Mutant Ninja Turtles](index=6&type=section&id=Teenage%20Mutant%20Ninja%20Turtles) The "Teenage Mutant Ninja Turtles" series will launch a Paramount+ series and a 2027 movie sequel, with spin-off series already premiered on Paramount+ and Netflix in August 2024 and January 2025 - The **"Teenage Mutant Ninja Turtles" series** will launch a Paramount+ series and a 2027 movie sequel, with spin-off series already premiered on Paramount+ and Netflix in August 2024 and January 2025[14](index=14&type=chunk) [Power Rangers](index=6&type=section&id=Power%20Rangers) The Group signed a global licensing agreement with Hasbro to produce and distribute "Power Rangers" toys, with the first "Mighty Morphin Power Rangers: Re-Ignition" products already shipped - The Group signed a global licensing agreement with Hasbro to produce and distribute **"Power Rangers" toys**, with the first **"Mighty Morphin Power Rangers: Re-Ignition" products** already shipped[15](index=15&type=chunk) [Godzilla x Kong](index=6&type=section&id=Godzilla%20x%20Kong) The Group will continue to develop and expand the "Godzilla x Kong MonsterVerse" product series to maintain brand popularity - The Group will continue to develop and expand the **"Godzilla x Kong MonsterVerse" product series** to maintain brand popularity[16](index=16&type=chunk) [Winx](index=7&type=section&id=Winx) The "Winx Club: The Magic Is Back" CGI reboot animation will premiere on Netflix in October 2025, with the Group simultaneously launching new fashion doll and role-play toy lines - The **"Winx Club: The Magic Is Back" CGI reboot animation** will premiere on Netflix in October 2025, with the Group simultaneously launching new fashion doll and role-play toy lines[17](index=17&type=chunk) [Portfolio Investments](index=7&type=section&id=Portfolio%20Investments) As of June 30, 2025, the fair value of the Group's investment portfolio decreased to HK$98.9 million, representing 1.7% of total assets, with a net investment gain of HK$11.5 million recorded in H1 Portfolio Investments Overview (HK$ thousand) | Indicator | June 30, 2025 | December 31, 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Investment Portfolio Fair Value | 98,900 | 109,100 | -9.4% | | % of Group's Total Assets | 1.7% | 1.8% | -0.1 percentage points | | Hong Kong Listed Securities | 23,600 | 32,400 | -27.2% | | Overseas Listed Securities | 75,300 | 76,700 | -1.8% | Portfolio Investment Income (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Net Investment Gain | 11,500 | 18,500 | -37.8% | | Dividend and Interest Income | 22,200 | 32,200 | -31.0% | - The investment portfolio primarily includes ten listed securities such as **NVIDIA, Amazon, Disney, Netflix, Tencent, Microsoft, Alphabet, Sun Hung Kai Properties, Goldman Sachs, and Apple**[19](index=19&type=chunk) [Condensed Consolidated Financial Information](index=8&type=section&id=Condensed%20Consolidated%20Financial%20Information) This section presents Playmates Group's condensed consolidated financial statements for the six months ended June 30, 2025, including the income statement, statement of comprehensive income, statement of financial position, cash flow statement, and statement of changes in equity, reflecting significant losses and operational challenges [Condensed Consolidated Income Statement](index=8&type=section&id=Condensed%20Consolidated%20Income%20Statement) In H1 2025, Group revenue decreased by 50.4% year-on-year to HK$261.1 million, and gross profit fell by 54.7% to HK$147 million, leading to an expanded operating loss of HK$228 million and a basic loss per share of 9.94 HK cents Key Data from Condensed Consolidated Income Statement (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 261,116 | 526,666 | -50.4% | | Cost of Sales | (114,281) | (202,529) | -43.6% | | Gross Profit | 146,835 | 324,137 | -54.7% | | Net Revaluation Loss on Investment Properties | (234,926) | (249,529) | -5.8% | | Operating Loss | (227,641) | (121,081) | +88.0% | | Loss Before Income Tax | (198,940) | (80,414) | +147.4% | | Loss for the Period | (218,158) | (114,899) | +89.9% | | Loss Attributable to Owners of the Company | (205,570) | (159,880) | +28.6% | | Basic Loss Per Share (HK cents) | (9.94) | (7.72) | +28.8% | - Marketing and license fees, and selling and distribution expenses both significantly decreased, while administrative expenses slightly increased[21](index=21&type=chunk) [Condensed Consolidated Statement of Comprehensive Income](index=9&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) In H1 2025, the Group's loss for the period was HK$218 million, partially offset by a positive exchange difference of HK$26.71 million from overseas subsidiaries, resulting in a total comprehensive loss of HK$191 million Key Data from Condensed Consolidated Statement of Comprehensive Income (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Loss for the Period | (218,158) | (114,899) | +89.9% | | Exchange Difference Arising from Translation of Overseas Subsidiaries | 26,710 | (10,936) | Shift from negative to positive | | Total Comprehensive Income for the Period | (191,448) | (125,835) | +52.1% | | Total Comprehensive Income Attributable to Owners of the Company | (178,860) | (170,816) | +4.7% | - Exchange differences from overseas subsidiaries turned from a loss to a **profit year-on-year**, partially offsetting the loss for the period[23](index=23&type=chunk) [Condensed Consolidated Statement of Financial Position](index=10&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets decreased to HK$5.345 billion, with investment properties and net current assets declining, while total bank loans reduced to HK$137 million Key Data from Condensed Consolidated Statement of Financial Position (HK$ thousand) | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Investment Properties | 4,208,052 | 4,416,969 | -4.7% | | Total Assets Less Current Liabilities | 5,345,167 | 5,638,787 | -5.2% | | Net Current Assets | 952,320 | 1,039,474 | -8.4% | | Bank Loans (Total) | 136,800 | 175,400 | -22.0% | | Cash and Bank Balances | 1,081,282 | 1,102,889 | -2.0% | | Total Equity | 5,307,136 | 5,595,364 | -5.1% | - Trade receivables significantly decreased from **HK$138 million at the end of 2024** to **HK$45.7 million**, reflecting a decline in toy business sales[24](index=24&type=chunk) - Trade payables increased from **HK$23.27 million at the end of 2024** to **HK$46.37 million**[24](index=24&type=chunk) [Condensed Consolidated Cash Flow Statement](index=12&type=section&id=Condensed%20Consolidated%20Cash%20Flow%20Statement) In H1 2025, net cash generated from operating activities significantly decreased to HK$80.84 million, while net cash from investing activities substantially increased to HK$172 million, primarily due to asset disposals and interest received Key Data from Condensed Consolidated Cash Flow Statement (HK$ thousand) | Indicator | H1 2025 | H1 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 80,840 | 168,952 | -52.1% | | Net Cash Generated from Investing Activities | 171,593 | 3,429 | +4903.5% | | Net Cash Used in Financing Activities | (139,390) | (147,886) | -5.7% | | Net Increase in Cash and Cash Equivalents | 113,043 | 24,495 | +361.5% | | Cash and Cash Equivalents at Period-End | 742,980 | 503,518 | +47.6% | - Net cash from investing activities significantly increased, mainly due to **increased proceeds from disposal of financial assets** to **HK$25.69 million** (H1 2024: HK$17.02 million) and higher interest received[27](index=27&type=chunk) - Dividends paid to owners of the Company and non-controlling interests totaled **HK$96.84 million**[27](index=27&type=chunk) [Condensed Consolidated Statement of Changes in Equity](index=14&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) As of June 30, 2025, total equity attributable to owners of the Company decreased to HK$4.764 billion, impacted by a loss for the period but partially offset by positive exchange differences from overseas subsidiaries Key Data from Condensed Consolidated Statement of Changes in Equity (HK$ thousand) | Indicator | June 30, 2025 | January 1, 2025 | Change | | :--- | :--- | :--- | :--- | | Equity Attributable to Owners of the Company | 4,764,113 | 5,004,982 | -4.8% | | Non-controlling Interests | 543,023 | 590,382 | -8.0% | | Total Equity | 5,307,136 | 5,595,364 | -5.1% | - Loss for the period led to a decrease in retained earnings, but exchange reserves increased by **HK$26.71 million** due to exchange differences from overseas subsidiaries[30](index=30&type=chunk) - Second interim dividend and special interim dividend for 2024, both **1.5 HK cents per share**, totaling **HK$62.04 million**, were paid[30](index=30&type=chunk) [Notes to the Condensed Consolidated Financial Information](index=16&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Information) This section details the basis of preparation, accounting policy changes, segment information, other income, taxation, dividends, loss per share, properties, receivables and payables, bank loans, financial instruments, and commitments for the Group's condensed consolidated financial information, providing a deeper understanding of its financial performance and position [Basis of Preparation and Accounting Policies](index=16&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) This condensed consolidated financial information is prepared in accordance with HKAS 34 "Interim Financial Reporting" and HKEX Listing Rules, consistent with the accounting policies adopted for the 2024 annual financial statements - Financial information prepared in accordance with **HKAS 34 "Interim Financial Reporting"** and **HKEX Listing Rules**[31](index=31&type=chunk) - Accounting policies adopted are consistent with those used for the annual financial statements for the year ended December 31, 2024[32](index=32&type=chunk) [Changes in Accounting Policies](index=16&type=section&id=Changes%20in%20Accounting%20Policies) Certain amendments to Hong Kong Financial Reporting Standards became effective for the first time in the current accounting period but had no significant impact on the Group's results or financial position - Amendments to Hong Kong Financial Reporting Standards effective for the first time in this accounting period had **no significant impact** on the Group's results and financial position[33](index=33&type=chunk) [Revenue and Segment Information](index=16&type=section&id=Revenue%20and%20Segment%20Information) The Group identified three reportable segments: Property Investment and Management, Investment Business, and Toy Business, with total revenue of HK$261 million in H1 2025, showing a shift from profit to loss in the toy business and expanded losses in property investment - The Group identified three reportable segments: **Property Investment and Management, Investment Business, and Toy Business**[34](index=34&type=chunk)[35](index=35&type=chunk) Revenue by Major Product or Service Line for H1 2025 (HK$ thousand) | Revenue Source | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Toy Sales | 185,514 | 445,141 | | Property Management Income | 9,754 | 10,804 | | Investment Property Rental Income | 65,046 | 68,535 | | Dividend Income | 188 | 507 | | Interest Income | 614 | 1,679 | | **Total Revenue** | **261,116** | **526,666** | [Segment Results, Assets and Liabilities](index=17&type=section&id=Segment%20Results%2C%20Assets%20and%20Liabilities) In H1 2025, the Toy Business segment recorded an operating loss of HK$45.4 million, while the Property Investment and Management segment's operating loss was HK$183 million, with the Investment Business segment showing a small operating profit Segment Operating Performance for H1 2025 (HK$ thousand) | Segment | H1 2025 Operating (Loss)/Profit | H1 2024 Operating (Loss)/Profit | | :--- | :--- | :--- | | Property Investment and Management Business | (183,085) | (190,320) | | Investment Business | 777 | 2,161 | | Toy Business | (45,395) | 68,210 | | **Total** | **(227,703)** | **(119,949)** | Segment Assets as of June 30, 2025 (HK$ thousand) | Segment | Assets as of June 30, 2025 | Assets as of December 31, 2024 | | :--- | :--- | :--- | | Property Investment and Management Business | 4,359,795 | 4,565,614 | | Investment Business | 56,962 | 74,191 | | Toy Business | 1,267,866 | 1,370,418 | | **Total Assets** | **5,742,544** | **6,067,926** | [Geographical Segment Information](index=22&type=section&id=Geographical%20Segment%20Information) In H1 2025, the Group's revenue from external customers primarily originated from the United States, Hong Kong, and Europe, with designated non-current assets mainly located in Hong Kong Revenue from External Customers for H1 2025 (HK$ thousand) | Region | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Hong Kong | 75,602 | 81,629 | | United States | 131,459 | 309,462 | | Europe | 31,351 | 90,536 | | Other Regions | 22,704 | 44,639 | | **Total** | **261,116** | **526,666** | Designated Non-Current Assets as of June 30, 2025 (HK$ thousand) | Region | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Hong Kong | 3,894,867 | 4,125,229 | | United States | 179,785 | 181,226 | | Europe | 199,560 | 181,703 | | Other Asia Pacific Regions | 82,141 | 73,490 | | **Total** | **4,356,353** | **4,561,648** | [Major Customers](index=22&type=section&id=Major%20Customers) In H1 2025, the Group had three customers whose transactions individually accounted for over 10% of total revenue, compared to two major customers in the prior period - In H1 2025, the Group had **three customers** whose transactions individually accounted for **over 10% of total revenue**, compared to two in H1 2024[44](index=44&type=chunk) Major Customer Sales for H1 2025 (HK$ thousand) | Customer | H1 2025 Sales | | :--- | :--- | | Customer A | 56,572 | | Customer B | 51,054 | | Customer C | 50,122 | [Net Other Income](index=23&type=section&id=Net%20Other%20Income) In H1 2025, the Group's net other income decreased to HK$33.24 million, primarily comprising unrealized gains on financial assets at fair value through profit or loss and interest income from Playmates Toys treasury Composition of Net Other Income (HK$ thousand) | Income Source | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Net Gain on Financial Assets at Fair Value Through Profit or Loss (Unrealized) | 12,325 | 14,005 | | Net Gain on Financial Assets at Fair Value Through Profit or Loss (Realized) | (845) | 4,511 | | Playmates Toys Treasury Interest Income | 21,149 | 29,811 | | Playmates Toys Treasury Dividend Income | 237 | 240 | | Others | 376 | 84 | | **Total** | **33,242** | **48,651** | - Realized gains on financial assets at fair value through profit or loss turned from a **profit to a loss** year-on-year[45](index=45&type=chunk) [(Loss)/Profit Before Income Tax](index=23&type=section&id=(Loss)%2FProfit%20Before%20Income%20Tax) In H1 2025, loss before income tax was HK$199 million, with key deductions including cost of inventories sold, product development and tooling expenses, royalty expenses, and interest expenses Key Deductions/(Additions) for Loss Before Income Tax (HK$ thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Cost of Inventories Sold | 90,999 | 184,619 | | Product Development and Tooling Expenses | 14,946 | 10,638 | | Royalty Expenses | 25,849 | 58,936 | | Directors' and Employees' Remuneration | 41,926 | 39,857 | | Depreciation (Total) | 6,202 | 6,336 | | Interest Expenses (Total) | 3,766 | 6,565 | | Net Exchange Gain | (1,075) | (315) | - Product development and tooling expenses increased year-on-year, while royalty expenses significantly decreased year-on-year[46](index=46&type=chunk) [Income Tax Expense](index=24&type=section&id=Income%20Tax%20Expense) In H1 2025, income tax expense decreased to HK$19.22 million, comprising Hong Kong profits tax and overseas taxation, with cumulative unrecognized tax losses significantly increasing to HK$66.16 million Composition of Income Tax Expense (HK$ thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Hong Kong Profits Tax | 11,273 | 15,565 | | Overseas Taxation | 7,578 | 12,897 | | Deferred Tax | 367 | 6,023 | | **Total Income Tax Expense** | **19,218** | **34,485** | - The Group's cumulative unrecognized tax losses significantly increased from **HK$11.07 million as of December 31, 2024** to **HK$66.16 million**[48](index=48&type=chunk) [Dividends](index=24&type=section&id=Dividends) The Board resolved to declare an interim dividend of 1.5 HK cents per share, payable on September 19, 2025, consistent with the prior period's interim and special interim dividends totaling HK$62.04 million - The Board resolved to declare an interim dividend of **1.5 HK cents per share**, consistent with the prior period[49](index=49&type=chunk) Dividends Paid During Interim Period (HK$ thousand) | Dividend Type | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Second Interim Dividend for 2024 (1.5 HK cents per share) | 31,020 | 31,046 | | Special Interim Dividend for 2024 (1.5 HK cents per share) | 31,020 | 31,045 | | **Total** | **62,040** | **62,091** | [Interim Dividend](index=24&type=section&id=Interim%20Dividend) The Board resolved on August 15, 2025, to declare an interim dividend of 1.5 HK cents per share, payable on September 19, 2025, to shareholders on record as of September 2, 2025 - The Board resolved to declare an interim dividend of **1.5 HK cents per share**, payable on **September 19, 2025**[49](index=49&type=chunk) [Dividends Paid for Previous Financial Year During Interim Period](index=25&type=section&id=Dividends%20Paid%20for%20Previous%20Financial%20Year%20During%20Interim%20Period) During the interim period, the Group paid the second interim dividend and special interim dividend for 2024, both 1.5 HK cents per share, totaling HK$62.04 million - Second interim dividend and special interim dividend for 2024, both **1.5 HK cents per share**, totaling **HK$62.04 million**, were paid[50](index=50&type=chunk) [Loss Per Share](index=25&type=section&id=Loss%20Per%20Share) In H1 2025, basic loss per share was 9.94 HK cents, calculated based on the loss attributable to owners of the Company and the weighted average of ordinary shares outstanding, with diluted loss per share being the same due to no potential ordinary shares Loss Per Share (HK cents) | Indicator | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Basic Loss Per Share | (9.94) | (7.72) | | Diluted Loss Per Share | (9.94) | (7.72) | - Diluted loss per share was the same as basic loss per share, as there were **no potential ordinary shares** during the period[51](index=51&type=chunk) [Investment Properties and Other Property, Plant and Equipment](index=26&type=section&id=Investment%20Properties%20and%20Other%20Property%2C%20Plant%20and%20Equipment) As of June 30, 2025, the net book value of investment properties decreased by 4.7% to HK$4.208 billion, primarily due to a net revaluation loss of HK$235 million, while other property, plant and equipment slightly increased Net Book Value of Investment Properties and Other Property, Plant and Equipment (HK$ thousand) | Item | June 30, 2025 | January 1, 2025 | Change | | :--- | :--- | :--- | :--- | | Investment Properties | 4,208,052 | 4,416,969 | -4.7% | | Other Property, Plant and Equipment | 136,193 | 133,551 | +2.0% | - A **net revaluation loss of HK$235 million** on investment properties was the primary reason for the decrease in their net book value[52](index=52&type=chunk) [Trade Receivables](index=27&type=section&id=Trade%20Receivables) As of June 30, 2025, net trade receivables significantly decreased to HK$45.7 million from HK$138 million at the end of 2024, reflecting a decline in toy business sales, with a customer discount provision of HK$39.25 million Trade Receivables (HK$ thousand) | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Total Trade Receivables | 84,950 | 177,322 | -52.1% | | Provision for Customer Discounts | (39,253) | (38,847) | +1.0% | | **Net Trade Receivables** | **45,697** | **138,475** | **-67.0%** | - Aging analysis shows trade receivables aged **0-60 days significantly decreased** from **HK$90.81 million to HK$39.04 million**[53](index=53&type=chunk) [Deposits Paid, Other Receivables and Prepayments](index=28&type=section&id=Deposits%20Paid%2C%20Other%20Receivables%20and%20Prepayments) As of June 30, 2025, total deposits paid, other receivables, and prepayments were HK$67.14 million, similar to the end of 2024, primarily comprising prepaid royalties, tooling expenses, and marketing expenses Composition of Deposits Paid, Other Receivables and Prepayments (HK$ thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Prepayments for Fixed Assets | 2,798 | – | | Prepaid Royalties | 48,454 | 48,851 | | Prepaid Tooling and Production Line Expenses | 6,820 | 4,163 | | Prepaid Marketing Expenses | 4,728 | 4,064 | | Deferred Rental Income + Other Prepayments, Deposits Paid and Receivables | 7,134 | 11,077 | | **Total** | **67,136** | **68,155** | - Prepaid royalties can be used to offset future royalty payments for licensed toy product sales[54](index=54&type=chunk) [Bank Loans](index=29&type=section&id=Bank%20Loans) As of June 30, 2025, the Group's total bank loans decreased by 22% to HK$137 million, all denominated in HKD with a significantly lower effective annual interest rate of 1.56% Bank Loans Overview (HK$ thousand) | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Repayable within One Year | 136,800 | 172,200 | -20.6% | | Repayable within Second Year | – | 3,200 | -100% | | **Total Bank Loans** | **136,800** | **175,400** | **-22.0%** | - The effective annual interest rate on bank loans significantly decreased from **5.49% as of December 31, 2024** to **1.56% as of June 30, 2025**[55](index=55&type=chunk) - Bank credit facilities of certain subsidiaries are secured by **investment properties and land and buildings**[56](index=56&type=chunk) [Trade Payables](index=29&type=section&id=Trade%20Payables) As of June 30, 2025, total trade payables significantly increased to HK$46.37 million from HK$23.27 million at the end of 2024, with the majority concentrated within zero to thirty days Aging Analysis of Trade Payables (HK$ thousand) | Aging | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | 0 to 30 Days | 42,550 | 21,851 | | 31 to 60 Days | 1,758 | 1,389 | | Over 60 Days | 2,065 | 34 | | **Total** | **46,373** | **23,274** | - Total trade payables nearly doubled year-on-year, primarily concentrated within **30 days**[57](index=57&type=chunk) [Deposits Received, Other Payables and Accrued Expenses](index=30&type=section&id=Deposits%20Received%2C%20Other%20Payables%20and%20Accrued%20Expenses) As of June 30, 2025, total deposits received, other payables, and accrued expenses decreased to HK$131 million, primarily including accrued royalties, security deposits from tenants, and accrued product development and marketing expenses Composition of Deposits Received, Other Payables and Accrued Expenses (HK$ thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Contract Liabilities (Purchase commitment deposits and advance sales deposits) | 17,174 | 17,273 | | Security Deposits and Advance Receipts from Tenants | 25,383 | 25,308 | | Accrued Product Development, Sales, Marketing, Licensing and Distribution Expenses | 18,270 | 16,931 | | Accrued Royalties | 49,182 | 68,580 | | Accrued Directors' and Employees' Remuneration | 5,580 | 14,654 | | Withholding Tax Payable | 5,016 | 3,394 | | Accrued Administrative Expenses and Professional Fees | 10,212 | 10,235 | | **Total** | **130,817** | **156,375** | - Accrued royalties significantly decreased year-on-year, while accrued product development, sales, marketing, licensing, and distribution expenses slightly increased[58](index=58&type=chunk) [Share Capital](index=30&type=section&id=Share%20Capital) As of June 30, 2025, the Company's issued and fully paid share capital was HK$20.68 million, comprising 2.068 billion ordinary shares, consistent with December 31, 2024, with no share repurchase, holding, or sale activities during the period Share Capital Overview (HK$ thousand) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Issued and Fully Paid Share Capital | 20,680 | 20,680 | | Number of Shares | 2,068,000,000 | 2,068,000,000 | - The Company did not engage in any share repurchase, holding, or sale activities during the period[59](index=59&type=chunk) [Financial Assets and Liabilities Measured at Fair Value](index=31&type=section&id=Financial%20Assets%20and%20Liabilities%20Measured%20at%20Fair%20Value) As of June 30, 2025, total financial assets at fair value through profit or loss were HK$98.92 million, all classified as Level 1 valuation, indicating listed equity investments measured using unadjusted quoted prices in active markets Financial Assets Measured at Fair Value (HK$ thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Listed Equity Investments in Hong Kong | 23,581 | 32,371 | | Listed Equity Investments Outside Hong Kong | 75,343 | 76,745 | | **Total** | **98,924** | **109,116** | - All financial assets measured at fair value are classified as **Level 1 valuation**, indicating active market quotes are available[61](index=61&type=chunk) [Recurring Fair Value Measurements](index=31&type=section&id=Recurring%20Fair%20Value%20Measurements) The Group's recurring fair value measurements primarily target financial assets at fair value through profit or loss, all using Level 1 valuation based on unadjusted quoted prices in active markets, with no transfers between fair value levels during the period - The Group's financial asset fair value measurements are all based on **Level 1 valuation**, using unadjusted quoted prices in active markets[61](index=61&type=chunk) - No transfers occurred between different fair value levels during the period[62](index=62&type=chunk) [Financial Assets and Liabilities Not Measured at Fair Value](index=32&type=section&id=Financial%20Assets%20and%20Liabilities%20Not%20Measured%20at%20Fair%20Value) As of June 30, 2025, and December 31, 2024, the carrying amounts of most of the Group's financial assets and liabilities approximated their fair values - The carrying amounts of most of the Group's financial assets and liabilities approximate their fair values[63](index=63&type=chunk) [Commitments](index=33&type=section&id=Commitments) As of June 30, 2025, the Group's total royalty commitments were HK$118 million, with HK$51.75 million due within one year, and total minimum future rentals receivable as a lessor within one year were HK$129 million, with no capital commitments outstanding Commitments Overview (HK$ thousand) | Commitment Type | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Royalty Commitments | 117,694 | 138,559 | | Lease Commitments (as Lessor, minimum rentals receivable within one year) | 129,202 | 120,808 | | Capital Commitments | – | – | [Royalty Commitments](index=33&type=section&id=Royalty%20Commitments) As of June 30, 2025, the Group's total contracted but unprovided royalty commitments were HK$118 million, with HK$51.75 million payable within one year and HK$65.95 million payable within the second to fifth years Royalty Commitments (HK$ thousand) | Period | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Within One Year | 51,745 | 42,385 | | Second to Fifth Year | 65,949 | 96,174 | | **Total** | **117,694** | **138,559** | - Total royalty commitments decreased by **15.1% year-on-year**[64](index=64&type=chunk) [Lease Commitments](index=33&type=section&id=Lease%20Commitments) All committed leases as a lessee have commenced and are recognized as lease liabilities, while as a lessor, the Group's total minimum future rentals receivable under non-cancellable leases were HK$286 million as of June 30, 2025 - All of the Group's committed leases as a lessee have been recognized as lease liabilities[66](index=66&type=chunk) Total Minimum Rentals Receivable as Lessor (HK$ thousand) | Period | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Within One Year | 129,202 | 120,808 | | After One Year but Within Two Years | 110,229 | 110,619 | | After Two Years but Within Three Years | 46,596 | 94,318 | | **Total** | **286,027** | **325,745** | [As Lessee](index=33&type=section&id=As%20Lessee) All committed leases by the Group as a lessee have commenced and are recognized as lease liabilities in accordance with HKFRS 16 - All of the Group's committed leases have been recognized as lease liabilities in accordance with **HKFRS 16**[66](index=66&type=chunk) [As Lessor](index=33&type=section&id=As%20Lessor) As a lessor, the Group's total minimum future rentals receivable within one year were HK$129 million - As a lessor, the Group's total minimum future rentals receivable within one year were **HK$129 million**[67](index=67&type=chunk) [Capital Commitments](index=34&type=section&id=Capital%20Commitments) As of June 30, 2025, and December 31, 2024, the Group had no outstanding capital commitments not provided for at period-end - The Group had **no outstanding capital commitments** at period-end[68](index=68&type=chunk) [Related Party Transactions](index=34&type=section&id=Related%20Party%20Transactions) For the six months ended June 30, 2025, and 2024, the Group did not enter into any significant transactions with related parties, nor did the Company engage in transactions with directors other than their emoluments - The Group did not enter into any **significant related party transactions** during the reporting period[70](index=70&type=chunk) [US Dollar Equivalents](index=34&type=section&id=US%20Dollar%20Equivalents) The US dollar equivalent figures in the report are for reference only and are calculated at an exchange rate of HK$7.8 to US$1 as of June 30, 2025 - US dollar equivalent figures are calculated at an exchange rate of **HK$7.8 to US$1** as of June 30, 2025, for reference only[71](index=71&type=chunk) [Information Required by Listing Rules](index=35&type=section&id=Information%20Required%20by%20Listing%20Rules) This section discloses the Group's liquidity and financial resources, asset pledges, employee information, share award schemes, share option schemes, directors' and substantial shareholders' interests in shares, and corporate governance practices, as required by the Listing Rules, ensuring transparency and compliance [Liquidity and Financial Resources](index=35&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's gearing ratio was 2.4% and its current ratio was 3.4, maintaining ample cash levels with most denominated in US dollars, while toy business receivables and inventories typically increase after peak sales seasons Key Liquidity and Financial Resources Indicators | Indicator | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Gearing Ratio | 2.4% | 2.9% | -0.5 percentage points | | Current Ratio | 3.4 | 3.4 | 0.0 | | Cash and Bank Balances (HK$ thousand) | 1,081,282 | 1,102,889 | -2.0% | | Toy Business Trade Receivables (HK$ thousand) | 44,435 | 136,670 | -67.5% | | Toy Business Inventories (HK$ thousand) | 34,608 | 27,654 | +25.1% | - The Group maintains **ample cash levels**, with **HK$1.012 billion denominated in US dollars**[73](index=73&type=chunk) [Pledge of Group Assets](index=35&type=section&id=Pledge%20of%20Group%20Assets) Details of the pledge of Group assets are disclosed in Financial Note 12, primarily involving bank credit facilities of certain subsidiaries secured by investment properties and land and buildings - Details of the pledge of Group assets are disclosed in **Financial Note 12**, primarily involving investment properties and land and buildings[74](index=74&type=chunk) [Employees](index=35&type=section&id=Employees) As of June 30, 2025, the Group had 86 employees in Hong Kong, the United States, and the United Kingdom, with the remuneration policy remaining largely unchanged - The Group has a total of **86 employees globally**, with a stable remuneration policy[75](index=75&type=chunk)[76](index=76&type=chunk) [Company Share Award Scheme](index=36&type=section&id=Company%20Share%20Award%20Scheme) The Company did not adopt any share award scheme during the reporting period - The Company did not adopt any share award scheme during the reporting period[77](index=77&type=chunk) [Playmates Toys Limited ("Playmates Toys") Share Award Scheme](index=36&type=section&id=Playmates%20Toys%20Limited%20%28%22Playmates%20Toys%22%29%20Share%20Award%20Scheme) Playmates Toys adopted a share award scheme on May 19, 2023, to reward, retain, and attract eligible participants, with 6 million unvested share awards and 3 million shares purchased by the trustee to satisfy future awards - The Playmates Toys Share Award Scheme aims to **reward, retain, and attract talent**, with a **ten-year validity period**[78](index=78&type=chunk)[79](index=79&type=chunk) - The scheme's authorized limit is **10% of Playmates Toys' total issued shares**, with a **5% sub-limit for service providers**[79](index=79&type=chunk) Playmates Toys Share Award Scheme Overview | Indicator | June 30, 2025 | | :--- | :--- | | Number of Unvested Share Awards | 6,000,000 awards | | Number of Shares Purchased by Trustee | 3,000,000 shares | | Scheme Authorized Limit (Number of Shares) | 118,000,000 shares | - Share awards granted to selected eligible participants will **vest on December 6, 2025**, with no purchase price payable and no performance targets attached[84](index=84&type=chunk) [Share Option Schemes](index=38&type=section&id=Share%20Option%20Schemes) The Company did not adopt any share option scheme during the reporting period, while Playmates Toys' 2018 scheme ceased granting new options on May 19, 2023, but previously granted unexercised options remain valid, totaling 19.444 million as of June 30, 2025 - The Company did not adopt any share option scheme during the reporting period[82](index=82&type=chunk) - Playmates Toys' 2018 share option scheme ceased granting new options on **May 19, 2023**, but previously granted unexercised options remain valid[86](index=86&type=chunk) [Company Share Options](index=38&type=section&id=Company%20Share%20Options) The Company did not adopt any share option scheme during the reporting period - The Company did not adopt any share option scheme during the reporting period[82](index=82&type=chunk) [Playmates Toys Share Options](index=38&type=section&id=Playmates%20Toys%20Share%20Options) Playmates Toys' 2018 share option scheme ceased granting new options on May 19, 2023, but previously granted unexercised options remain valid, totaling 19.444 million with an exercise price of HK$0.826 as of June 30, 2025 Playmates Toys Share Options Overview | Indicator | June 30, 2025 | January 1, 2025 | | :--- | :--- | :--- | | Number of Unexercised Share Options | 19,444,000 options | 19,696,000 options | | Exercise Price | HK$0.826 | HK$0.826 | - The 2018 Playmates Toys scheme terminated on **May 19, 2023**, ceasing new option grants, but existing options remain exercisable under their terms[86](index=86&type=chunk) [Directors' Interests in Shares and Underlying Shares of the Company or Any Associated Corporation](index=40&type=section&id=Directors%27%20Interests%20in%20Shares%20and%20Underlying%20Shares%20of%20the%20Company%20or%20Any%20Associated%20Corporation) As of June 30, 2025, Chairman Chan Kwong Fai held 5.03% of the Company's shares and interests in Playmates Toys' shares and underlying shares, with other directors also holding interests, and no directors holding short positions - Chairman Chan Kwong Fai holds **5.03% of the Company's shares** and shares and share options in Playmates Toys[87](index=87&type=chunk)[88](index=88&type=chunk)[89](index=89&type=chunk) - As of period-end, no directors held or were deemed to hold **short positions** in the shares or underlying shares of the Company or any associated corporation[90](index=90&type=chunk) [Long Positions in Shares of the Company](index=40&type=section&id=Long%20Positions%20in%20Shares%20of%20the%20Company) As of June 30, 2025, Chan Kwong Fai held 104 million ordinary shares (5.03%) of the Company, with other directors also holding significant ordinary shares Directors' Long Positions in Shares of the Company | Director Name | Number of Shares Held (shares) | Percentage of Shareholding | | :--- | :--- | :--- | | Chan Kwong Fai | 104,000,000 | 5.03% | | Chan Hoi Lun | 28,000,000 | 1.35% | | Chan Kwong Keung | 2,600,000 | 0.13% | | Lo Kai Yiu | 250,000 | 0.01% | [Long Positions in Shares of Playmates Toys](index=41&type=section&id=Long%20Positions%20in%20Shares%20of%20Playmates%20Toys) As of June 30, 2025, Chan Kwong Fai held 3.274 million ordinary shares (0.28%) of Playmates Toys, and Lo Kai Yiu held 0.376 million ordinary shares (0.03%) Directors' Long Positions in Shares of Playmates Toys | Director Name | Number of Shares Held (shares) | Percentage of Shareholding | | :--- | :--- | :--- | | Chan Kwong Fai | 3,274,000 | 0.28% | | Lo Kai Yiu | 376,000 | 0.03% | [Long Positions in Underlying Shares of Playmates Toys](index=41&type=section&id=Long%20Positions%20in%20Underlying%20Shares%20of%20Playmates%20Toys) As of June 30, 2025, Chan Kwong Fai held 2 million share options, corresponding to 2 million underlying shares (0.17%), with Chan Hoi Lun and Chan Kwong Keung each holding 1 million share options Directors' Long Positions in Underlying Shares of Playmates Toys (Share Options) | Director Name | Number of Equity Derivatives Held (options) | Corresponding Underlying Shares (shares) | Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Chan Kwong Fai | 2,000,000 | 2,000,000 | 0.17% | | Chan Hoi Lun | 1,000,000 | 1,000,000 | 0.08% | | Chan Kwong Keung | 1,000,000 | 1,000,000 | 0.08% | [Shareholders' Interests and Short Positions in Shares and Underlying Shares of the Company as Recorded Under Section 336 of the Securities and Futures Ordinance](index=42&type=section&id=Shareholders%27%20Interests%20and%20Short%20Positions%20in%20Shares%20and%20Underlying%20Shares%20of%20the%20Company%20as%20Recorded%20Under%20Section%20336%20of%20the%20Securities%20and%20Futures%20Ordinance) As of June 30, 2025, Mr. Chan Chun Hung and his associates and companies held a long position of 1.374 billion shares (66.42%) in the Company, with TGC Assets Limited beneficially owning 1.102 billion shares (53.27%), and no other disclosable interests or short positions Major Shareholders' Long Positions in Shares of the Company | Name | Nature of Interest | Number of Shares Held (shares) | Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Chan Chun Hung | Personal, Associates and Companies | 1,373,602,000 | 66.42% | | TGC Assets Limited | Beneficial Owner | 1,101,602,000 | 53.27% | - Mr. Chan Chun Hung is the **beneficial owner of the entire issued share capital of TGC Assets Limited**[93](index=93&type=chunk) [Repurchase, Sale or Redemption of Shares](index=42&type=section&id=Repurchase%2C%20Sale%20or%20Redemption%20of%20Shares) During the reporting period, neither the Company nor its subsidiaries redeemed, repurchased, or sold any shares of the Company, and the Company did not hold any treasury shares - Neither the Company nor its subsidiaries engaged in any **share redemption, repurchase, or sale activities** during the reporting period[92](index=92&type=chunk) [Corporate Governance Code](index=43&type=section&id=Corporate%20Governance%20Code) For the six months ended June 30, 2025, the Company complied with the Corporate Governance Code, except for the separation of Chairman and Chief Executive roles, which the Board deems appropriate for effective management - The Company adopted and complied with the Corporate Governance Code, but the roles of Chairman and Chief Executive are not separated, with executive directors jointly handling daily business[94](index=94&type=chunk) - The Board believes the existing management structure is appropriate to ensure effective management and oversight of the Group's business and operations[94](index=94&type=chunk) [Compliance with Model Code](index=43&type=section&id=Compliance%20with%20Model%20Code) The Company adopted the Model Code for Securities Transactions by Directors, and all Board members confirmed compliance throughout the reporting period - All Board members confirmed compliance with the **Model Code** set out in Appendix C3 of the Listing Rules throughout the reporting period[95](index=95&type=chunk) [Update on Directors' Information Pursuant to Rule 13.51B(1) of the Listing Rules](index=43&type=section&id=Update%20on%20Directors%27%20Information%20Pursuant%20to%20Rule%2013.51B%281%29%20of%20the%20Listing%20Rules) During the reporting period, no information was required to be disclosed pursuant to Rule 13.51B(1) of the Listing Rules - No updates to directors' information requiring disclosure under **Rule 13.51B(1) of the Listing Rules** during the reporting period[96](index=96&type=chunk) [Company Information](index=44&type=section&id=Company%20Information) This section provides Playmates Group's basic company information, including Board members, company secretary, registered and principal offices, auditors, legal advisors, principal bankers, share registrars, stock code, and company website, along with dates for suspension of share registration [Suspension of Register of Members](index=44&type=section&id=Suspension%20of%20Register%20of%20Members) The Company's register of members will be suspended from September 1 to September 2, 2025, to determine eligibility for the interim dividend, payable on September 19, 2025 - Share registration will be suspended from **September 1 to September 2, 2025**, to determine eligibility for the interim dividend[97](index=97&type=chunk) - The interim dividend will be paid on **September 19, 2025**, to shareholders on the Company's register of members as of September 2, 2025[97](index=97&type=chunk) [Shareholder Information](index=44&type=section&id=Shareholder%20Information) This interim report is available on the Company's website and The Stock Exchange of Hong Kong Limited website, with printed copies available free of charge at the share registrar - The interim report is available on the **Company's website and HKEX website**, with printed copies available free of charge at the share registrar[98](index=98&type=chunk) [Directors](index=45&type=section&id=Directors) The Board of Directors comprises a Chairman and Executive Director, two Executive Directors, one Non-executive Director, and three Independent Non-executive Directors - The Board of Directors comprises a Chairman and Executive Director, two Executive Directors, one Non-executive Director, and three Independent Non-executive Directors[99](index=99&type=chunk) [Company Secretary](index=45&type=section&id=Company%20Secretary) The Company Secretary is Ng Ka Yan - The Company Secretary is **Ng Ka Yan**[99](index=99&type=chunk) [Registered Office](index=45&type=section&id=Registered%20Office) The registered office is located in Bermuda - The registered office is located in **Bermuda**[99](index=99&type=chunk) [Principal Place of Business](index=45&type=section&id=Principal%20Place%20of%20Business) The principal place of business is located at 23rd Floor, Playmates Group Building, 100 Canton Road, Tsimshatsui, Kowloon, Hong Kong - The principal place of business is located at **23rd Floor, Playmates Group Building, 100 Canton Road, Tsimshatsui, Kowloon, Hong Kong**[99](index=99&type=chunk) [Auditors](index=45&type=section&id=Auditors) The auditors are Grant Thornton Hong Kong Limited, Certified Public Accountants and Registered Public Interest Entity Auditors - The auditors are **Grant Thornton Hong Kong Limited**[99](index=99&type=chunk) [Legal Advisers](index=45&type=section&id=Legal%20Advisers) The legal advisers are Conyers Dill & Pearman and Deacons - The legal advisers are **Conyers Dill & Pearman and Deacons**[99](index=99&type=chunk) [Principal Bankers](index=45&type=section&id=Principal%20Bankers) The principal bankers include The Bank of East Asia, Limited, Hang Seng Bank Limited, UBS AG, and Merrill Lynch, Pierce, Fenner & Smith Inc - Principal bankers include **The Bank of East Asia, Limited, Hang Seng Bank Limited, UBS AG, and Merrill Lynch**[99](index=99&type=chunk) [Principal Share Registrar](index=45&type=section&id=Principal%20Share%20Registrar) The principal share registrar is Codan Services Limited, located in Bermuda - The principal share registrar is located in **Bermuda**[100](index=100&type=chunk) [Hong Kong Branch Share Registrar](index=45&type=section&id=Hong%20Kong%20Branch%20Share%20Registrar) The Hong Kong branch share registrar is Tricor Secretaries Limited, located at 17th Floor, Far East Finance Centre, 16 Harcourt Road, Hong Kong - The Hong Kong branch share registrar is **Tricor Secretaries Limited**[100](index=100&type=chunk) [Stock Code](index=45&type=section&id=Stock%20Code) Playmates Group Limited's shares are listed on The Stock Exchange of Hong Kong Limited, with stock code 635 - The Company's shares are listed on the **HKEX**, with stock code **635**[100](index=100&type=chunk) [Website](index=45&type=section&id=Website) The Company's website is www.playmates.net - The Company's website is **www.playmates.net**[100](index=100&type=chunk)

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 FF301 FF301 II. 已發行股份及/或庫存股份變動 公司名稱: 彩星集團有限公司 呈交日期: 2025年9月2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) | 00635 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 | HKD | | 300,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 ...

Group 1 - The company announced that non-executive director Li Jia Shi will no longer serve as a member of the nomination committee [1] - Executive director Chen Kai Lun has been appointed as a member of the nomination committee [1]

Group 1 - The company announced changes to its board committee members effective from August 15, 2025 [1] - Non-executive director Mr. Li Jia Shi will no longer serve as a member of the nomination committee [1] - Executive director Ms. Chen Kai Lun has been appointed as a member of the nomination committee [1] Group 2 - Mr. Li Jia Shi has been appointed as a member of the compensation committee [2]

Group 1 - The company announced changes to its board committee members effective from August 15, 2025 [1] - Non-executive director Mr. Li Jia Shi will no longer serve as a member of the nomination committee [1] - Executive director Ms. Chen Kai Lun has been appointed as a member of the nomination committee [1] Group 2 - Mr. Li Jia Shi has been appointed as a member of the remuneration committee [1]

彩星集团(00635)发布截至2025年6月30日止6个月中期业绩，集团收入2.61亿港元，同比减少50.42%;股 东应占亏损2.06亿港元，同比扩大28.58%;每股亏损9.94港仙;每股中期股息1.5港仙。 ...