FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 理士國際技術有限公司 （於開曼群島註冊成立的有限公司） 呈交日期: 2025年9月4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) | 00842 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,432,609,357 | | 0 | | 1,432,609,357 | | 增加 / 減少 (-) | | | 127,000 | | | | | | 本月底結存 | | | 1,432,736,357 | | 0 | | 1,432,736,357 | 第 2 頁 共 10 頁 v 1.1.1 III ...

Core Viewpoint - The company reported a revenue increase of 11.9% in the first half of 2025, but experienced a significant decline in gross profit and net profit attributable to shareholders, indicating challenges in maintaining profitability despite revenue growth [1] Financial Performance - The company's revenue reached RMB 8.438 billion, reflecting an 11.9% year-on-year increase [1] - Gross profit decreased by 18.6% to RMB 864 million, resulting in a gross margin drop from 14.1% to 10.2% [1] - Net profit attributable to shareholders fell by 61.7% to RMB 93.7 million, with basic earnings per share at RMB 0.07 [1] Business Segments - Revenue from the power solutions business increased by 8.1% to RMB 7.349 billion [1] - Revenue from the lead recycling business surged by 46.4% to RMB 1.09 billion [1] Cost and Margin Challenges - The decline in gross margin for the power solutions business was primarily due to high import tariffs in the U.S., which affected higher-margin customers [1] - The lead recycling business faced margin pressure due to rising costs of waste batteries [1] - The production timeline for the Mexican plant has been delayed from Q2 2025 to Q4 2025, postponing the expected benefits of localized production to mitigate tariff-related cost pressures [1]

Group 1 - The core point of the article is that 理士国际 (00842) reported a mid-term performance for the six months ending June 30, 2025, showing a revenue of RMB 8.438 billion, which represents a year-on-year growth of 11.87% [1] - The net profit attributable to shareholders decreased to RMB 93.741 million, reflecting a significant decline of 61.71% compared to the previous year [1] - The earnings per share (EPS) for the company is reported at RMB 0.07 [1]

Core Viewpoint - The company reported a revenue of RMB 8.438 billion for the six months ending June 30, 2025, reflecting a year-on-year growth of 11.87%. However, the profit attributable to shareholders decreased by 61.71% to RMB 93.741 million, with earnings per share at RMB 0.07 [1] Financial Performance - Revenue for the period reached RMB 8.438 billion, marking an increase of 11.87% compared to the previous year [1] - Profit attributable to shareholders was RMB 93.741 million, which represents a significant decline of 61.71% year-on-year [1] - Earnings per share stood at RMB 0.07 [1]

Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 8,438.4 million, an increase of 11.9% compared to RMB 7,542.9 million in the same period of 2024[2] - Gross profit decreased by 18.6% to RMB 864.4 million from RMB 1,061.8 million year-on-year[2] - Profit for the period dropped by 71.3% to RMB 69.5 million, down from RMB 241.7 million in the previous year[2] - Earnings attributable to equity holders of the parent decreased by 61.7% to RMB 93.7 million, compared to RMB 244.8 million in the prior year[2] - Basic earnings per share fell to RMB 0.07 from RMB 0.18 year-on-year[2] - The pre-tax profit for the six months ended June 30, 2025, was RMB 93,741,000, a decrease of 61.5% compared to RMB 244,819,000 for the same period in 2024[25] - Net profit for the period was RMB 69.5 million, a significant decrease from RMB 241.7 million in the previous year[75] Revenue Breakdown - Revenue from the power solutions business was RMB 7,348,891, up 8.1% from RMB 6,798,509 in the previous year[15] - Revenue from the lead recycling business increased significantly to RMB 1,089,473, a rise of 46.3% compared to RMB 744,404 in 2024[15] - Revenue from mainland China accounted for RMB 4,764,820, representing a growth of 9.2% from RMB 4,363,895 in the prior year[16] - The network battery business accounted for 40.6% of total sales, generating revenue of RMB 3,428.8 million, a year-on-year increase of 9.4% driven by rising demand for UPS batteries in data centers[45] - The starting battery segment contributed 36.9% to total sales with revenue of RMB 3,115.3 million, reflecting a 9.6% increase due to higher automotive production, particularly in emerging markets[46] - The power battery business represented 7.4% of total sales, with revenue of RMB 621.8 million, down 9.5% year-on-year due to weak demand in the mainland China market[47] - Sales revenue in mainland China rose by 9.2% to RMB 4,764.8 million, accounting for 56.5% of total revenue[61] Assets and Liabilities - Total assets as of June 30, 2025, amounted to RMB 11,743.4 million, up from RMB 10,718.7 million at the end of 2024[7] - Current liabilities increased to RMB 9,086.2 million from RMB 8,027.8 million at the end of 2024[8] - Non-current liabilities decreased to RMB 1,294.7 million from RMB 1,477.4 million at the end of 2024[8] - Non-current assets totaled RMB 5,237,500, an increase from RMB 4,800,822 as of December 31, 2024[17] - The total amount of bank borrowings and advances as of June 30, 2025, was RMB 5,341,959,000, up from RMB 5,121,531,000 as of December 31, 2024, marking an increase of about 4.3%[39] Cash Flow and Investments - Cash and cash equivalents decreased to RMB 653,539,000 as of June 30, 2025, down from RMB 743,975,000 as of December 31, 2024, reflecting a decline of about 12.1%[35] - The group’s cash and bank balances decreased to RMB 1,275,391,000 as of June 30, 2025, from RMB 1,406,003,000 as of December 31, 2024, a decline of approximately 9.3%[35] - The group had capital commitments totaling RMB 314,726,000 as of June 30, 2025, compared to RMB 210,204,000 as of December 31, 2024, representing a significant increase of approximately 49.7%[40] Research and Development - Research and development costs were RMB 150.1 million, down from RMB 181.5 million in the previous year[4] - Research and development expenses decreased by 17.3% to RMB 150.1 million, as most of the expenses related to new product development were capitalized during the period[70] - The company is committed to increasing R&D investment to develop a diversified product matrix centered on lithium battery technology, including lead-carbon and sodium-ion batteries[54] Corporate Governance and Management - The company is committed to maintaining high standards of corporate governance, having complied with most of the corporate governance code provisions, except for the absence of the chairman at the annual general meeting due to other commitments[86] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited financial statements and discussed accounting principles and internal controls with management[88] - The board expressed gratitude to shareholders, customers, suppliers, and employees for their continued support[90] Market and Strategic Focus - The company aims to enhance its core competitiveness in energy storage and power solutions, focusing on high-performance communication networks and robust data processing capabilities[50] - The company plans to strategically increase its focus on high-end lead-acid battery business for data centers and telecommunications to drive sustainable growth[51] - The after-sales channel market is identified as a key opportunity for growth, emphasizing the importance of full lifecycle service and optimizing supply chain responsiveness[52] - The company is optimizing its global supply chain management through SAP to enhance local operational capabilities in North America[55] - A new production base in Mexico is expected to start operations in Q4 2023 to enhance service capabilities for North American customers[55] - The company plans to spin off its subsidiary Leoch Energy Inc. for a separate listing in the U.S. by February 2025, aiming to enhance the market value of both the spun-off and retained groups[57] Other Financial Metrics - The total financial costs decreased to RMB 153,745,000 in 2025 from RMB 160,085,000 in 2024, reflecting a reduction of 4.3%[23] - The income tax expense for the period was RMB 47,059,000, which is an increase of 93.5% compared to RMB 24,302,000 in 2024[24] - The company did not declare an interim dividend for the current period, compared to a dividend of 4 HK cents per share in the previous year[2] - The company did not engage in any significant acquisitions or disposals during the period[83] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the period, and held no treasury shares as of June 30, 2025[89]

Financial Results - The board meeting for Leoch International Technology Limited is scheduled for August 29, 2025, to consider and approve the unaudited interim results for the six months ending June 30, 2025[2] - The weighted average closing price of the company's shares prior to the exercise of stock options for the fiscal year ending December 31, 2024, was HKD 1.51 per share[2]

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。 Leoch International Technology Limited 理士國際技術有限公司 （於開曼群島註冊成立的有限公司） （股份代號：842） 持續關連交易︰ 生產設施主購買協議 茲提述本公司日期為二零二四年十二月十二日的公告，內容有關購買生產設施的 二零二四年購買協議。 本集團於過往訂立二零二四年購買協議，以向廣東瑪西爾（一間由深圳瑪西爾全 資擁有的公司，而深圳瑪西爾則由董博士及其胞兄間接擁有約98.55%權益）採購若 干生產設施。鑑於本集團業務營運持續增長，加上本集團有意於境內及境外興建 工廠，需要額外的生產設施以滿足營運所需，董事會認為，與董博士訂立框架協議 而非再訂立一份一次過購買協議，確保以具競爭力的條款獲得穩定的生產設施供 應，符合商業利益。 由於上市規則項下根據(i)主購買協議年度上限最高金額；及(ii)二零二四年購買協 議與主購買協議按合併基準計算的最高適用百分比率（僅就截至 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 理士國際技術有限公司 （於開曼群島註冊成立的有限公司） 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00842 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | ...

Investment Rating - The report maintains a "Buy" rating for the electric power equipment and new energy industry [1] Core Insights - The lithium battery sector is experiencing a significant increase in sales for electric vehicles and energy storage, with lithium carbonate prices declining by 4.8% to 70,000 yuan per ton [1][5] - In March 2025, domestic wholesale sales of new energy passenger vehicles reached 1.13 million units, a year-on-year increase of 35.5% [1][20] - The transition from lead-acid to lithium batteries in the start-stop battery market is becoming clearer, driven by performance improvements and cost reductions in sodium batteries [3][12] Summary by Sections Monthly Insights - In April 2025, the lithium battery-related sectors, except for new energy vehicles, experienced varying degrees of decline, with significant drops in the phosphate iron lithium positive electrode and lithium battery copper foil sectors [2] - The monthly transaction volume for most sectors decreased significantly, while the new energy vehicle sector saw a slight increase in transaction volume [2] Research Topic - The start-stop battery market is in a growth phase, with lead-acid batteries currently dominating but facing competition from lithium and sodium batteries [3][12] - The market for start-stop batteries is expected to grow significantly, with a projected compound annual growth rate of 14.5% from 2024 to 2032 [14] Industry Insights - In March 2025, new energy vehicle sales in China and Europe were strong, with sales of 1.128 million and 304,000 units respectively, reflecting a year-on-year increase of 36% and 26% [4][20] - Energy storage installations in China and the US saw significant growth, with domestic installations reaching 3.4 GWh in March, a year-on-year increase of 57% [24][27] Lithium Battery Production Tracking - In May 2025, lithium battery production is expected to fluctuate between -5% and 13% month-on-month, with year-on-year growth ranging from -1% to 41% [5][30] - The report indicates that the lithium battery sector is entering a seasonal low period, with production adjustments anticipated [30] Investment Recommendations - The report suggests that the lithium battery sector is poised for a BETA-level market driven by both industry demand and technological advancements, recommending key players such as CATL and EVE Energy [6][39]

Financial Performance - For the year ended December 31, 2024, the Group's revenue was approximately RMB 16,126.5 million, representing a 19.7% increase from RMB 13,471.2 million in 2023[14]. - The gross profit for the same period was RMB 2,266.8 million, up by 16.6% compared to RMB 1,943.7 million in 2023[14]. - Profit attributable to owners of the parent was approximately RMB 566.4 million, a slight increase of 5.8% from RMB 535.4 million in 2023[14]. - The Group's profit for the year was RMB 563.5 million, which reflects a decrease of 0.8% from RMB 567.8 million in 2023[14]. - Basic earnings per share increased to RMB 0.41 in 2024 from RMB 0.39 in 2023, based on a weighted average of 1,373,897,419 shares[16]. - The financial highlights indicate a strong performance in revenue growth, despite a slight decline in overall profit for the year[16]. Dividends - The Board recommended a final dividend of 7 HK cents per share for the year ended December 31, 2024, consistent with the previous year[17]. - An interim dividend of 4 HK cents per share was declared and paid during the year[17]. - The Group continues to maintain a stable dividend policy, reflecting its commitment to returning value to shareholders[17]. Revenue Growth by Segment - Leoch achieved RMB16.1 billion in revenue for 2024, a 19.7% increase from 2023, driven by diversified product offerings and expanded sales channels[22]. - SLI Batteries revenue surged 60.9% to RMB5.9 billion, supported by the rising adoption of AGM and EFB technologies in start-stop systems[27]. - Data Centre and Network Batteries revenue grew 9% to RMB6.9 billion, driven by sustained demand for data center and telecom solutions[31]. - Motive Power Batteries revenue increased by 19.2% to RMB1.4 billion, fueled by trends in e-commerce logistics and industrial automation[31]. - EMEA region revenue increased by 42.3%, demonstrating strong performance across multiple segments[33]. - Americas region achieved growth of 20.1%, primarily driven by expanding demand for Energy Storage Systems (ESS)[33]. Market Trends and Strategic Initiatives - The company is well-positioned to capitalize on trends in renewable energy storage and electric vehicles, leveraging its diversified portfolio[26]. - AGM and EFB technology offerings were significantly expanded to align with the automotive industry's transition towards electrification[37]. - The acquisition of Yuasa Battery (Guangdong) strengthened aftermarket distribution channels for the Group[38]. - Rising shipping costs and reduced tax incentives in China pose significant challenges for 2024, prompting the company to optimize operations and diversify raw material sources[42]. - A strategic spin-off of Leoch Energy Inc. is planned for February 2025 to unlock value and enhance focus on regional growth opportunities[49]. Research and Development - The company plans to enhance its development of Battery Management Systems (BMS), Energy Storage Systems (ESS), and AI-driven Energy Management Systems (EMS) by 2025[43]. - The company plans to increase R&D investment to improve performance indicators of core products, including high-power lead-acid batteries and high-density lithium-ion energy storage systems[107]. - The company aims to develop energy management systems that integrate artificial intelligence for improved efficiency and safety in lithium battery projects[133]. Challenges and Operational Efficiency - Challenges in the recycling business included the removal of government incentives, impacting profitability and cash flow for reinvestment[73]. - The Group plans to enhance operational efficiency through digital means and optimize cost structure while incorporating sustainable development goals into strategic planning[138]. - The Group's manufacturing network will cover China, Southeast Asia, South Asia, and North America to ensure supply chain resilience and delivery efficiency[137]. Financial Position and Assets - Trade receivables increased by 14.1% to RMB 3,704.3 million, reflecting higher sales volumes[179]. - Inventories rose by 22.4% to RMB 3,365.2 million, driven by strong demand in the power solutions business and the acquisition of a subsidiary[174]. - The Group's net current assets increased to RMB 1,296.2 million as of December 31, 2024, from RMB 1,160.7 million in 2023, with cash and bank deposits decreasing to RMB 1,406.0 million from RMB 2,529.1 million[187]. - Bank borrowings increased to RMB 5,121.5 million as of December 31, 2024, compared to RMB 4,457.4 million in 2023, with all borrowings being interest-bearing[187]. - The Group's gearing ratio rose to 35.3% as of December 31, 2024, up from 31.6% in 2023, calculated by dividing total borrowings by total assets[191]. Future Outlook - The Group expects to achieve double-digit revenue and profit growth by 2025, further consolidating its leading position in the global energy solution provider field[138]. - The global data center market size is expected to exceed USD 300 billion by 2025, with an average annual growth rate of over 15%[107]. - The lithium-ion battery market is expected to surpass USD 400 billion by 2030, with a CAGR of 25%-30% in the energy storage sector and 20%-25% in the automotive battery sector[110]. - The global energy storage market is forecasted to exceed USD 500 billion by 2025, with lithium-ion systems accounting for over 80% of the market share[111].