Group 1 - The core viewpoint is that the telecommunications equipment stocks in Hong Kong are experiencing a general increase, driven by a global uptrend in power equipment demand [1] - Shanghai Electric leads the gains with an increase of over 6%, followed by Goldwind Technology at 3.6%, China High-Speed Transmission at 2.5%, and Fulaite Glass at 2% [2] - The report from CITIC Securities indicates that global investment in power grids is expected to exceed $400 billion by 2025, maintaining a high level of market activity [1] Group 2 - AI is projected to significantly boost global electricity demand, leading to a notable increase in the demand for supporting electrical equipment [1] - Major overseas companies are raising their capital expenditure forecasts and increasing investments in AIDC infrastructure [1] - The demand for transformers in the U.S. market continues to strengthen, with high transformer price indices, and the Middle East is experiencing rapid growth in transformer demand [1]

(Stock code: 658) （股份代號：658） (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） 12 September 2025 Dear non-registered shareholder(s), China High Speed Transmission Equipment Group Co., Ltd. (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communication") The Current Corporate Communication of the Company has been published in English and Chinese languages and are available on t he website of The Stock Exchange of Hong Kong Limited ("HKEXnews") ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock code: 658) （股份代號：658） 12 September 2025 Dear registered shareholder(s), Pursuant to Rule 2.07A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited under the expansion of paperless listing regime and electronic dissemination of corporate communications that came into effect on 31 December 2023, and as stated in the Letter to Registered Shareholders – Arrangement of Electronic Disseminat ...

Financial Performance - For the six months ended June 30, 2025, the company reported customer contract revenue of approximately RMB 9,978,981,000, a decrease of 1.8% compared to RMB 10,159,694,000 for the same period in 2024[7]. - Gross profit for the same period increased by 36.7% to RMB 1,852,086,000, with a gross margin of 18.6%, up from 13.3% in the previous year[7][8]. - The loss attributable to owners of the company decreased by 74.3% to RMB 136,061,000, compared to RMB 528,733,000 in the prior year[7][8]. - The group recorded a foreign exchange gain of approximately RMB 41,631,000 due to fluctuations in the RMB against the USD and EUR[46]. - The company reported a basic and diluted loss per share of RMB 0.083, an improvement from a loss of RMB 0.323 per share in the previous year[107]. - The company reported a total of approximately 1,635,291,000 shares outstanding as of June 30, 2025, unchanged from December 31, 2024[114]. - The company reported a loss attributable to shareholders of RMB 136,061,000 for the six months ended June 30, 2025, compared to a loss of RMB 528,733,000 for the same period in 2024, indicating a significant improvement[147]. Revenue and Sales - Sales revenue from wind power gear transmission equipment increased by 61.5% to approximately RMB 8,867,412,000, up from RMB 5,489,427,000 in the same period last year[10]. - In the first half of 2025, the company's sales revenue decreased by 1.8% to approximately RMB 9,978,981,000, primarily due to the suspension of trade business since November 2024, despite an increase in sales of wind power gear transmission equipment[25]. - Industrial gear transmission equipment sales fell by 19.3% to RMB 935,261,000 from RMB 1,158,771,000 year-on-year[26]. - The industrial gear transmission equipment segment generated sales revenue of approximately RMB 935,261,000, a decrease of 19.3% compared to the same period last year[12]. - The rail transit gear transmission equipment segment achieved sales revenue of approximately RMB 175,716,000, an increase of 29.4% year-on-year[13]. - Overseas sales amounted to approximately RMB 1,181,640,000, representing a 19.8% increase compared to the previous year, with overseas sales accounting for 11.8% of total sales, up 2.1 percentage points[14]. Assets and Liabilities - The company maintained total assets of RMB 38,635,484,000, reflecting a 2.5% increase from RMB 37,709,287,000 as of December 31, 2024[7]. - The total liabilities rose by 2.6% to RMB 25,793,742,000, compared to RMB 25,150,002,000 at the end of 2024[7]. - The asset-liability ratio slightly increased to 66.8% from 66.7% in the previous year, indicating stable financial leverage[7]. - Total borrowings amounted to RMB 9,504,487,000 as of June 30, 2025, compared to RMB 9,166,345,000 as of December 31, 2024, indicating a 3.7% increase[169]. - The company has pledged assets totaling RMB 6,648,016,000 as collateral for bank loans as of June 30, 2025, compared to RMB 7,080,620,000 as of December 31, 2024[170]. Research and Development - The company is focusing on innovation and R&D, developing large megawatt offshore wind gear transmission equipment, with products like the 13.6MW-20MW gearboxes being delivered to customers[9]. - The company holds a total of 1,058 authorized patents, with 294 patents pending approval[16]. - The company has been recognized as a "National Technology Innovation Demonstration Enterprise" and has established several research centers for advanced gear transmission technology[15]. - The company is committed to optimizing supply chain management and increasing R&D investment to enhance manufacturing capabilities and quality management efficiency[20]. Corporate Governance and Compliance - The company has complied with the corporate governance code but has deviated from the requirement that the roles of chairman and CEO should be separate[76]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim report and financial statements for the six months ending June 30, 2025, confirming compliance with applicable accounting standards[85]. - The board of directors has reviewed and approved the management's action plan to address the issues related to the qualified conclusion[74]. - The company has established an independent investigation committee to examine serious issues related to agreements made by its subsidiaries without board approval[99]. Legal and Investigative Matters - The company is currently under criminal investigation by the Jiangning branch of the Nanjing Public Security Bureau regarding allegations of misappropriation of funds and assets by its subsidiaries[99]. - All commodity trading operations have been suspended while the company cooperates with ongoing criminal and independent investigations regarding receivables and prepayments[68]. - The management is currently unable to obtain sufficient financial information to determine the fair value of these investments as of June 30, 2025, and December 31, 2024[72]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2025, was RMB 1,088,621,000, compared to a cash outflow of RMB 991,358,000 for the same period in 2024[113]. - Cash used in investing activities amounted to RMB 1,035,140,000, compared to RMB 995,475,000 in the prior year[113]. - The company acquired financial assets worth RMB 11,250,288,000 during the period, contributing to a total of RMB 11,618,628,000 in financial assets[124]. - The company has provided loans to third parties amounting to RMB 317,838,000 as of June 30, 2025, unchanged from the previous period[159]. Employee and Management Information - As of June 30, 2025, the group employed approximately 8,107 employees, an increase from 7,897 employees as of June 30, 2024[49]. - Employee costs for the review period amounted to RMB 941,656,000, compared to RMB 918,920,000 for the same period in 2024[49]. - The company’s management compensation for the six months ended June 30, 2025, was RMB 7,596,000, a decrease from RMB 9,067,000 for the same period in 2024, reflecting a reduction of 16.3%[171].

Core Viewpoint - China High-Speed Transmission (00658) has appointed Guowei Certified Public Accountants as the new auditor to fill the temporary vacancy, effective from September 6, 2025, until the conclusion of the next annual general meeting [1]. Group 1 - The company has invited several auditing firms to submit proposals for the auditor position [1]. - Three firms submitted their proposals within the specified deadline [1]. - The appointment of Guowei is based on the recommendation of the company's audit committee [1].

中国高速传动(00658)发布公告，公司已邀请数间核数师事务所就公司核数师职位比选，最终三间事务 所已于规定期限前提交比选文件，经考虑及公司审核委员会推荐建议后，国卫会计师事务所有限公司 (国卫)已获委任为集团新任核数师，自2025年9月6日起生效，以填补公司核数师的临时空缺，任期直至 公司下届股东周年大会结束为止(委任)。 ...

格隆汇9月7日丨中国高速传动(00658.HK)发布公告，国卫会计师事务所有限公司("国卫")已获委任为集 团新任核数师，自2025年9月6日起生效，以填补公司核数师的临时空缺，任期直至公司下届股东周年大 会结束为止。 中国高速传动(00658.HK)：国卫获委任为核数师 中国高速传动(00658.HK)上半年净亏损1.36亿元 同比收 窄74.3% 相关事件 ...

香港交易及結算所有限公司以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 因倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：658） 委任核數師 基於上文所述，審核委員會認為，國衛符合資格及適合擔任核數師。董事會及審 核委員會認為，委任符合本公司及本公司股東（「股東」）的整體利益。 委任亦已根據本公司組織章程細則（「細則」）獲獨立機構（「獨立機構」）批准。 1 委任詳情載列如下： 鑒於有關續聘天職香港會計師事務所有限公司為核數師的決議案未獲股東週年大 會通過，導致核數師職位出現臨時空缺。董事會認為，若本公司核數師從缺，將 不符合本公司及股東的整體最佳利益，因為會有延遲或干擾本公司財務報表編製 的風險，繼而影響其遵守香港聯合交易所有限公司證券上市規則的能力，以及維 持上市地位而不暫停或中斷本公司股份交易的能力。 茲提述中國高速傳動設備集團有限公司（「本公司」，連同其附屬公司統稱「本集 團」）日期為二零二五年六月二十七日的公告（「結果公告」），內容有關(i)股東週年 大會結果及( ...

Group 1 - China High-Speed Transmission (00658) shares rose over 10%, reaching a price of 1.52 HKD with a trading volume of 8.38 million HKD [1] - The company reported a mid-year performance for 2025, with customer contract revenue of 9.979 billion RMB, a year-on-year decrease of 1.8%, and a gross profit of 1.852 billion RMB, an increase of 36.7% year-on-year [1] - The loss attributable to the company's owners narrowed to 136 million RMB, a reduction of 74.3% year-on-year [1] Group 2 - The decline in sales revenue was primarily due to the suspension of trade operations since November 2024, despite an increase in sales of wind power gear transmission equipment [1] - CICC's research report indicates a gradually optimistic outlook for domestic wind power demand in 2026, with a significant increase in industry output expected after 2025 [1] - The forecast for new domestic wind power installations in 2026 is set at 120-130 GW, with potential downward pressure, particularly in onshore wind installations, while offshore wind installations are expected to grow significantly [1]

Company Summary - China High-Speed Transmission's stock rose over 10%, reaching HKD 1.52 with a trading volume of HKD 8.38 million [1] - The company reported a mid-year performance for 2025, with customer contract revenue of RMB 9.979 billion, a year-on-year decrease of 1.8% [1] - Gross profit increased to RMB 1.852 billion, reflecting a year-on-year growth of 36.7% [1] - The loss attributable to shareholders narrowed to RMB 136 million, a reduction of 74.3% year-on-year [1] - The decline in sales revenue was primarily due to the suspension of trading operations since November 2024, despite an increase in sales of wind power gear transmission equipment [1] Industry Outlook - CICC's report indicates a gradually optimistic outlook for domestic wind power demand in 2026, following a significant increase in industry output value in 2025 [1] - The forecast for new installed capacity of domestic wind power in 2026 is projected to be between 120-130 GW, with potential downward pressure year-on-year, mainly due to a slight decrease in new land-based wind installations [1] - The report anticipates a substantial increase in new offshore wind installations in 2026, estimated at 13-17 GW, contributing to a stable growth in the domestic wind power output value [1]