Group 1 - The core viewpoint of the article is that Wanyu Technology (00894) reported its interim results for the six months ending June 30, 2025, showing a slight increase in revenue and a significant rise in profit attributable to shareholders [1] - The company's revenue reached HKD 817 million, reflecting a year-on-year increase of 0.08% [1] - The profit attributable to shareholders was HKD 4.405 million, which represents a year-on-year increase of 59.83% [1] - The basic earnings per share were HKD 0.0093 [1]

[Interim Results Announcement](index=1&type=section&id=Interim%20Results%20Announcement) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) This chapter summarizes key financial indicators for the six months ended June 30, 2025, showing stable revenue, significant growth in gross profit and profit attributable to equity holders, and a corresponding increase in earnings per share | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | Change | | :--- | :--- | :--- | :--- | | Revenue | 816,637 | 815,977 | +0.1% | | Gross Profit | 137,257 | 133,039 | +3.2% | | EBITDA | 66,673 | 68,704 | -3.0% | | Profit attributable to equity holders | 4,405 | 2,756 | +59.8% | | Earnings per share | 0.93 HK cents | 0.58 HK cents | +60.3% | [Introduction to Interim Results](index=1&type=section&id=Introduction%20to%20Interim%20Results) The Board is pleased to announce the unaudited interim results of the Company and its subsidiaries for the six months ended June 30, 2025 - The Board of Directors of Man Yue Technology Holdings Limited announced the unaudited interim results for the six months ended June 30, 2025[4](index=4&type=chunk) [Unaudited Consolidated Financial Statements](index=2&type=section&id=Unaudited%20Consolidated%20Financial%20Statements) [Unaudited Consolidated Statement of Profit or Loss](index=2&type=section&id=Unaudited%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2025, the company's revenue remained stable, gross profit increased, but operating profit slightly decreased. Profit attributable to equity holders significantly increased, with basic and diluted earnings per share both at 0.93 HK cents | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Revenue | 816,637 | 815,977 | | Cost of sales | (679,380) | (682,938) | | Gross Profit | 137,257 | 133,039 | | Other income | 8,481 | 3,842 | | Net other losses | (11,203) | (49) | | Selling and distribution expenses | (24,152) | (26,117) | | Administrative expenses | (79,093) | (78,469) | | Operating profit | 31,290 | 32,246 | | Finance expenses | (21,763) | (25,852) | | Finance income | 2,796 | 3,222 | | Share of results of a joint venture | (4,641) | (2,483) | | Profit before tax | 7,682 | 7,133 | | Income tax | (7,032) | (4,741) | | Profit for the period | 650 | 2,392 | | Profit attributable to equity holders of the Company | 4,405 | 2,756 | | Profit/(loss) attributable to non-controlling interests | (3,755) | (364) | | Basic earnings per share | 0.93 HK cents | 0.58 HK cents | [Unaudited Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Unaudited%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company's profit for the period was 650 Thousand HKD, but due to revaluation deficit on properties and exchange differences, total comprehensive income for the period turned positive, reaching 33,149 Thousand HKD | Indicator | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Profit for the period | 650 | 2,392 | | Revaluation (deficit)/surplus on properties, net of tax | (20,816) | 3,890 | | Exchange differences | 53,315 | (22,228) | | Other comprehensive income for the period, net of tax | 32,499 | (18,338) | | Total comprehensive income for the period | 33,149 | (15,946) | | Total comprehensive income attributable to equity holders of the Company | 34,544 | (14,273) | | Total comprehensive income attributable to non-controlling interests | (1,395) | (1,673) | [Unaudited Consolidated Statement of Financial Position](index=4&type=section&id=Unaudited%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total non-current assets slightly increased, while total current assets and total current liabilities both decreased, leading to a reduction in net current assets. Net assets and equity attributable to equity holders of the Company both increased | Indicator | June 30, 2025 (Thousand HKD) | December 31, 2024 (Thousand HKD) | | :--- | :--- | :--- | | Total non-current assets | 1,502,730 | 1,494,114 | | Total current assets | 1,612,993 | 1,653,763 | | Total current liabilities | 1,476,129 | 1,506,574 | | Net current assets | 136,864 | 147,189 | | Total assets less current liabilities | 1,639,594 | 1,641,303 | | Total non-current liabilities | 113,447 | 145,975 | | Net assets | 1,526,147 | 1,495,328 | | Equity attributable to equity holders of the Company | 1,498,944 | 1,466,730 | | Total equity | 1,526,147 | 1,495,328 | - Cash and cash equivalents decreased from **HKD 208.17 million** as of December 31, 2024, to **HKD 143.79 million** as of June 30, 2025[7](index=7&type=chunk) [Notes to the Unaudited Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Unaudited%20Consolidated%20Financial%20Statements) [1 Basis of Preparation](index=6&type=section&id=1%20Basis%20of%20Preparation) These interim financial statements have been prepared in accordance with the applicable disclosure provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Hong Kong Accounting Standard 34, and have been reviewed by KPMG - The interim financial statements have been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 2410[9](index=9&type=chunk) [2 Changes in Accounting Policies](index=6&type=section&id=2%20Changes%20in%20Accounting%20Policies) The Group has applied the amendments to Hong Kong Accounting Standard 21 "The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability", but due to the absence of relevant foreign currency transactions, there is no significant impact on the interim financial statements. No other new standards or interpretations not yet effective have been adopted in this accounting period - Application of amendments to Hong Kong Accounting Standard 21 "The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability" has no significant impact on the interim financial statements[10](index=10&type=chunk) [3 Estimates](index=7&type=section&id=3%20Estimates) The preparation of interim financial statements involves management's judgments, estimates, and assumptions, the primary sources of which are consistent with those applied in the 2024 annual consolidated financial statements - The significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty are consistent with those applied in the 2024 annual consolidated financial statements[12](index=12&type=chunk) [4 Segment Information](index=7&type=section&id=4%20Segment%20Information) The Group comprises two main operating segments: manufacturing, sales and distribution of electronic components, and investment. The electronic components segment contributed all external customer revenue with a gross profit margin of 16.8% and an operating profit margin of 2.9%. The investment segment contributed some other income and operating profit. Mainland China is the primary source of revenue and location of non-current assets - The Group's principal operating segments are (i) manufacturing, sales and distribution of electronic components; and (ii) investment[14](index=14&type=chunk) Segment Performance | Segment | 2025 External Customer Revenue (Thousand HKD) | 2025 Segment Gross Profit (Thousand HKD) | 2025 Operating Profit (Thousand HKD) | | :--- | :--- | :--- | :--- | | Manufacturing, sales and distribution of electronic components | 816,637 | 137,257 | 23,448 | | Investment | – | – | 7,842 | | **Total** | **816,637** | **137,257** | **31,290** | Geographical Information | Geographical Location | 2025 External Customer Revenue (Thousand HKD) | 2024 External Customer Revenue (Thousand HKD) | | :--- | :--- | :--- | | Mainland China | 625,553 | 620,439 | | Taiwan | 79,906 | 81,856 | | Hong Kong | 30,741 | 40,239 | | Southeast Asia | 34,716 | 29,460 | | United States | 17,723 | 9,629 | | Europe | 17,649 | 20,596 | [5 Revenue](index=10&type=section&id=5%20Revenue) The Group's principal activities are the manufacturing and trading of electronic components and raw materials, with revenue recognized when control is transferred to customers. For the six months ended June 30, 2025, customer contract revenue from manufacturing and trading of electronic components was 816,637 Thousand HKD, consistent with the prior year period - Revenue primarily derived from manufacturing and trading of electronic components, recognized upon transfer of control[20](index=20&type=chunk) Customer Contract Revenue by Product Line | Product Line | 2025 Customer Contract Revenue (Thousand HKD) | 2024 Customer Contract Revenue (Thousand HKD) | | :--- | :--- | :--- | | Manufacturing and trading of electronic components | 816,637 | 815,977 | [6 Other Income](index=10&type=section&id=6%20Other%20Income) For the six months ended June 30, 2025, other income significantly increased to 8,481 Thousand HKD, primarily due to higher government grants, rental income from investment properties, and other miscellaneous income | Item | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Government grants | 2,035 | 261 | | Rental income from investment properties | 1,846 | 2,787 | | Others | 4,477 | 3,422 | | **Total** | **8,481** | **3,842** | [7 Net Other Losses](index=10&type=section&id=7%20Net%20Other%20Losses) For the six months ended June 30, 2025, net other losses significantly increased to 11,203 Thousand HKD, mainly due to net exchange losses and fair value losses on financial assets at fair value through profit or loss, despite an increase in fair value gains on investment properties | Item | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Fair value gains on investment properties | 7,266 | 674 | | Net exchange (losses)/gains | (15,477) | 13,345 | | Fair value losses on financial assets at fair value through profit or loss | (1,270) | (9,706) | | **Total** | **(11,203)** | **(49)** | [8 Operating Profit](index=11&type=section&id=8%20Operating%20Profit) Operating profit is achieved after deducting expenses such as depreciation, amortization, write-down of inventories, and net reversal of expected credit losses | Item | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Depreciation expense (owned property, plant and equipment) | 24,735 | 24,802 | | Depreciation expense (right-of-use assets) | 12,209 | 10,618 | | Write-down of inventories | 3,000 | 1,751 | | Net reversal of expected credit losses on trade and other receivables | 1,642 | 61 | [9 Finance Expenses](index=11&type=section&id=9%20Finance%20Expenses) For the six months ended June 30, 2025, total finance expenses were 21,763 Thousand HKD, a decrease from the prior year period, mainly due to lower interest expenses on bank and other borrowings | Item | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Interest expense on bank and other borrowings | 21,592 | 25,061 | | Interest expense on lease liabilities | 971 | 1,375 | | Less: Interest expense capitalized into construction in progress | (800) | (584) | | **Total** | **21,763** | **25,852** | [10 Finance Income](index=11&type=section&id=10%20Finance%20Income) For the six months ended June 30, 2025, finance income was 2,796 Thousand HKD, primarily from interest income on loans to a joint venture | Item | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Interest income on loans to a joint venture | 2,647 | 2,692 | | Interest income on fixed deposits and bank balances | 149 | 530 | | **Total** | **2,796** | **3,222** | [11 Income Tax](index=12&type=section&id=11%20Income%20Tax) For the six months ended June 30, 2025, total income tax expense for the period was 7,032 Thousand HKD, mainly from current tax outside Hong Kong and deferred tax. Some subsidiaries in Mainland China enjoy a preferential tax rate of 15%, while others are taxed at 25% | Item | 2025 (Thousand HKD) | 2024 (Thousand HKD) | | :--- | :--- | :--- | | Current tax: Outside Hong Kong | 4,871 | 4,948 | | Deferred tax | 2,161 | (207) | | **Total income tax expense for the period** | **7,032** | **4,741** | - Some subsidiaries in Mainland China enjoy a preferential tax rate of **15%**, while others are subject to the statutory tax rate of **25%**[27](index=27&type=chunk) [12 Earnings Per Share](index=12&type=section&id=12%20Earnings%20Per%20Share) For the six months ended June 30, 2025, basic earnings per share were 0.93 HK cents, an increase from the prior year period. Diluted earnings per share were the same as basic earnings per share due to the absence of potential dilutive ordinary shares | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Profit attributable to equity holders of the Company | 4,405,000 HKD | 2,756,000 HKD | | Weighted average number of ordinary shares in issue | 475,547,534 shares | 475,547,534 shares | | Basic earnings per share | 0.93 HK cents | 0.58 HK cents | | Diluted earnings per share | 0.93 HK cents | 0.58 HK cents | [13 Dividends](index=12&type=section&id=13%20Dividends) The Board does not recommend the payment of an interim dividend for the period. As of June 30, 2025, dividends payable of 2,330,000 HKD were approved and recognized, representing the final dividend for the previous financial year - The Board does not recommend the payment of an interim dividend for the period[30](index=30&type=chunk) - As of June 30, 2025, dividends payable of **HKD 2.33 million** were approved and recognized, representing the final dividend of **0.49 HK cents** per ordinary share for the previous financial year[30](index=30&type=chunk) [14 Trade and Other Receivables, Prepayments, Deposits and Other Receivables](index=13&type=section&id=14%20Trade%20and%20Other%20Receivables%2C%20Prepayments%2C%20Deposits%20and%20Other%20Receivables) As of June 30, 2025, total trade receivables were 685,865 Thousand HKD, with credit terms generally 90 days, extendable to 150 days for major customers. The company manages credit risk through its credit control department and credit insurance, and regularly reviews overdue balances | Item | June 30, 2025 (Thousand HKD) | December 31, 2024 (Thousand HKD) | | :--- | :--- | :--- | | Trade receivables | 685,865 | 660,194 | | Prepayments, deposits and other receivables | 146,248 | 158,520 | | **Total** | **832,113** | **818,714** | - Credit terms are generally **90 days**, extendable to a maximum of **150 days** for major customers, with credit risk hedged through credit insurance[31](index=31&type=chunk)[32](index=32&type=chunk) Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (Thousand HKD) | December 31, 2024 (Thousand HKD) | | :--- | :--- | :--- | | 1 to 3 months | 618,427 | 576,119 | | 4 to 6 months | 28,094 | 58,732 | | 7 to 12 months | 24,130 | 25,276 | | Over 1 year | 15,214 | 67 | [15 Trade and Bills Payables](index=14&type=section&id=15%20Trade%20and%20Bills%20Payables) As of June 30, 2025, total trade and bills payables were 313,861 Thousand HKD, with most trade payables falling within 1 to 3 months | Item | June 30, 2025 (Thousand HKD) | December 31, 2024 (Thousand HKD) | | :--- | :--- | :--- | | Trade payables (1 to 3 months) | 278,538 | 261,234 | | Trade payables (4 to 6 months) | 23,028 | 40,506 | | Trade payables (7 to 12 months) | 1,150 | 2,230 | | Trade payables (Over 1 year) | 4,245 | 14,904 | | Bills payable | 6,900 | 4,934 | | **Total** | **313,861** | **323,808** | [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) [Financial Performance](index=15&type=section&id=Financial%20Performance) Despite global trade tensions and tariff adjustments, the Group maintained robust financial performance for the six months ended June 30, 2025. Revenue remained stable, gross profit margin was approximately 16%, and net profit attributable to equity holders significantly increased by nearly 60%, driven by cost control, new product commercialization, reduced finance expenses, and improved operational efficiency - Revenue remained stable at **HKD 816.64 million**, consistent with the prior year period, despite global trade tensions and tariff adjustments[35](index=35&type=chunk) - Gross profit margin remained stable year-on-year at approximately **16%**, reflecting optimized product mix and improved operational efficiency[35](index=35&type=chunk) - Finance expenses decreased by nearly **16%** compared to the prior year period, attributed to loan portfolio restructuring from high-interest HKD financing to lower-interest RMB financing[36](index=36&type=chunk) - Net profit attributable to equity holders increased by **59.8%** from **HKD 2.76 million** in H1 2024 to **HKD 4.41 million** in the current period[36](index=36&type=chunk) [Business Review](index=16&type=section&id=Business%20Review) While demand in traditional applications for the global passive electronic components market was sluggish, advanced energy sectors (energy storage systems and AI infrastructure) emerged as key growth drivers. The Group successfully strengthened its market position in these high-growth areas through focused R&D and product portfolio adjustments, achieving stable revenue and operational resilience - In the global passive electronic components market, advanced energy sectors (advanced energy storage systems and AI infrastructure) are significant market drivers[37](index=37&type=chunk) - The AI revolution has created unprecedented demand for specialized passive components in AI servers and accelerators, which command a price premium[37](index=37&type=chunk) - The Group continues to focus R&D on advanced energy sectors and rapidly adjusts its product portfolio and manufacturing capabilities to high-value areas, achieving stable revenue[37](index=37&type=chunk) - Implementation of advanced production optimization techniques and stringent cost controls enhanced manufacturing efficiency, supporting net profit growth[38](index=38&type=chunk) - R&D investment and a diversified business model effectively expanded market share in high-growth areas such as AI infrastructure and advanced energy storage solutions[39](index=39&type=chunk) [Market Overview](index=16&type=section&id=Market%20Overview) Against a backdrop of subdued demand in traditional applications, the global passive electronic components market sees advanced energy sectors, particularly advanced energy storage systems and AI infrastructure, as new growth engines, driving demand for high-voltage capacitors and high-performance, high-safety components - Advanced energy storage drives demand for high-voltage capacitors and high-performance, high-safety capacitors[37](index=37&type=chunk) - The AI revolution creates immense demand for specialized passive components in AI servers and accelerators, which command a price premium[37](index=37&type=chunk) [Operational Review](index=16&type=section&id=Operational%20Review) The Group demonstrated strong operational resilience by implementing advanced production optimization techniques, stringent cost controls, and supply chain optimization. R&D investment and a diversified business model successfully expanded market share in high-growth areas, achieving sustainable profitable growth through technological innovation and financial discipline - Implementation of advanced production optimization techniques and stringent cost controls enhanced manufacturing efficiency[38](index=38&type=chunk) - R&D-driven product development strategy successfully expanded market share in high-growth areas such as AI infrastructure and advanced energy storage solutions[39](index=39&type=chunk) - Financial discipline is central to operations, including comprehensive cost optimization measures and targeted R&D investments[39](index=39&type=chunk) [Liquidity and Financial Resources](index=17&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's cash and cash equivalents were 143.79 Million HKD, and total outstanding bank and other borrowings were 976.09 Million HKD. The net gearing ratio was 54.5%, and the current ratio was 1.09 times, indicating slightly tightened but still robust liquidity | Indicator | June 30, 2025 (Million HKD) | December 31, 2024 (Million HKD) | | :--- | :--- | :--- | | Cash and cash equivalents | 143.79 | 208.17 | | Total outstanding bank and other borrowings | 976.09 | 1,002.05 | | Net gearing ratio | 54.5% | 53.1% | | Net working capital | 136.86 | 147.19 | | Current ratio | 1.09 times | 1.10 times | - The Group closely monitors foreign exchange risk, primarily transacting in HKD, RMB, USD, and JPY[40](index=40&type=chunk) [Outlook and Prospects](index=18&type=section&id=Outlook%20and%20Prospects) Looking ahead to the second half of 2025, the global economic environment remains challenging, but the Group maintains its strategic advantage through a diversified business model and customer-centric strategy. Future focus will be on expanding and diversifying the customer portfolio, deepening relationships, and transforming from a traditional capacitor supplier to an integrated solution partner, especially in high-value applications such as advanced energy storage, AI infrastructure power management, and EV charging - The International Monetary Fund maintains its 2025 global economic growth forecast at **3.0%**, but warns of inflationary pressures and geopolitical uncertainties[41](index=41&type=chunk) - The Group will expand and diversify its customer portfolio, deepen relationships with existing customers, and provide customized engineering support and technical collaboration[41](index=41&type=chunk) - Strategic priorities include transforming from a traditional capacitor supplier to an integrated solution partner, focusing on advanced energy storage systems, AI infrastructure power management, and electric vehicle charging solutions[41](index=41&type=chunk) - The Group's geographically diversified manufacturing footprint and localized supply chain initiatives provide resilience amidst trade disputes and prepare for normalization of trade relations[42](index=42&type=chunk) [Other Information](index=19&type=section&id=Other%20Information) [Employment and Remuneration Policies](index=19&type=section&id=Employment%20and%20Remuneration%20Policies) As of June 30, 2025, the Group employed 2,553 employees. Remuneration policies are based on fair reward, meritocracy, and market competitiveness, offering benefits such as provident funds, medical insurance, and performance-linked bonuses | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total number of employees | 2,553 | 2,227 | - Remuneration policies are based on fair reward, incentivization, meritocracy, and market-competitive compensation, offering provident funds, medical insurance, and performance-linked bonuses[43](index=43&type=chunk) [Purchase, Sale or Redemption of the Company's Shares](index=19&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Shares) 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 shares - During the period, neither the Company nor its subsidiaries purchased, sold, or redeemed any shares[44](index=44&type=chunk) [Compliance with the Corporate Governance Code](index=19&type=section&id=Compliance%20with%20the%20Corporate%20Governance%20Code) The Company has complied with the applicable code provisions of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules during the period - The Company has complied with the applicable code provisions of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules[45](index=45&type=chunk) [Compliance with the Model Code](index=19&type=section&id=Compliance%20with%20the%20Model%20Code) The Company has adopted the Model Code as set out in Appendix C3 to the Listing Rules, which governs directors' dealings in securities. All directors confirmed full compliance with the Model Code during the period - All directors confirmed full compliance with the Model Code as set out in Appendix C3 to the Listing Rules during the period[46](index=46&type=chunk) [Scope of Work of the Audit Committee and KPMG](index=19&type=section&id=Scope%20of%20Work%20of%20the%20Audit%20Committee%20and%20KPMG) The Audit Committee has reviewed the Group's unaudited consolidated financial statements for the six months ended June 30, 2025, which have been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 2410 - The Audit Committee has reviewed the interim financial statements, which were reviewed by KPMG[47](index=47&type=chunk) [Interim Dividend](index=19&type=section&id=Interim%20Dividend) The Board does not recommend the payment of an interim dividend for the period. Dividends payable of 2,330,000 HKD were approved and recognized, representing the final dividend for the previous financial year - The Board does not recommend the payment of an interim dividend for the period[48](index=48&type=chunk) - Dividends payable of **HKD 2.33 million** were approved and recognized, representing the final dividend of **0.49 HK cents** per ordinary share for the previous financial year[48](index=48&type=chunk) [Publication of 2025 Interim Results and Interim Report](index=20&type=section&id=Publication%20of%202025%20Interim%20Results%20and%20Interim%20Report) This announcement has been published on HKEXnews and the Company's website. The interim report containing all information will be dispatched to shareholders and published on the relevant websites on or before September 30, 2025 - This announcement has been published on HKEXnews and the Company's website[49](index=49&type=chunk) - The interim report will be dispatched to shareholders and published on HKEXnews and the Company's website on or before September 30, 2025[49](index=49&type=chunk) [Acknowledgement and Board Information](index=20&type=section&id=Acknowledgement%20and%20Board%20Information) The Board expresses gratitude to all employees, customers, suppliers, banks, and shareholders for their support. As of the announcement date, the Board members include Executive Directors Ms. Ji Chulian, Mr. Chen Yucheng, Mr. Chen Dachang, and Independent Non-executive Directors Mr. Luo Guigui, Mr. Ma Shaoyuan, Mr. Rong Yongqi - The Board expresses gratitude to employees, customers, suppliers, banks, and shareholders for their support[50](index=50&type=chunk) - The Board comprises three executive directors and three independent non-executive directors[52](index=52&type=chunk)

提名委員會職權範圍 董事會於 2011 年 12 月 6 日採納及於 2025 年 8 月 22 日修訂 萬裕科技集團有限公司 (「本公司」) 提名委員會職權範圍 成立 1. 本公司董事會(「董事會」)於2011年12月6日通過決議成立一個董事會轄下之委員 會，稱為提名委員會(「委員會」)。 目的 2. 委員會以協助董事會有效地運作及本公司有必要採取正式的、公正的和透明的過 程，以檢討董事會的均衡性和有效性、確定所需的技能、知識、經驗及多樣的觀點 與角度，以及委任能夠提供該等條件給董事會的人士。委員會的主要目的是領導委 任董事的過程，並物色和提名合適的人選加入董事會。 成員 會議法定人數及投票 6. 委員會會議的法定人數應為兩名委員會成員。於委員會會議上提出的問題，必須以 由大多數投票通過。倘贊成與反對的票數相同，會議主席可投第二票或決定票。 1 3. 委員會由董事會委任，成員人數應不少於三名，大多數成員為本公司獨立非執行 董事。委員會中至少有一名不同性別的成員。 4. 委員會主席應為委員會成員中的一位本公司獨立非執行董事，或董事會主席。 萬裕科技集團有限公司 (「本公司」) 提名委員會職權範圍 出席會議 會 ...

Group 1 - The core viewpoint of the news highlights the significant performance of Wan Yu Technology (万裕科技), with a notable stock price increase and strong financial results [1][2] - As of August 20, the stock price of Wan Yu Technology closed at 0.64 HKD per share, marking a 16.36% increase, with a trading volume of 5.26 million shares and a turnover of 3.09 million HKD [1] - Over the past month, Wan Yu Technology has achieved a cumulative increase of 35.8%, and since the beginning of the year, it has risen by 88.74%, outperforming the Hang Seng Index by 25.24% [1] Group 2 - Financial data shows that for the year ending December 31, 2024, Wan Yu Technology reported total revenue of 1.492 billion HKD, a year-on-year increase of 9.56%, and a net profit attributable to shareholders of 7.24 million HKD, up 91.81% [1] - The company's gross profit margin stands at 15.35%, with a debt-to-asset ratio of 52.5% [1] - Currently, there are no institutional investment ratings for Wan Yu Technology, and its price-to-earnings (P/E) ratio is 33.45, significantly higher than the average P/E ratio of 7.21 for the industrial engineering sector [2] Group 3 - Wan Yu Technology has been established since 1979, focusing on providing high-quality products across three main categories: aluminum electrolytic capacitors under the "SAMXON" brand, high polymer aluminum solid capacitors under the "X-CON" brand, and supercapacitors [2] - The company emphasizes quality and research and development (R&D) innovation, investing substantial resources annually to enhance production conditions and meet various international environmental standards [3] - Looking ahead, Wan Yu Technology aims to maintain its commitment to excellence, technological innovation, and customer service, striving to become a trusted partner in the electronics industry [3]

萬裕科技集團有限公司（「本公司」）董事會（「董事會」）謹此宣布，本公司將於 2025年8月22日（星期五）假座香港皇后大道中183號新紀元廣場中遠大廈34樓3402室 舉行董事會會議，藉以（其中包括）(i)考慮及批准刊發本公司及其附屬公司截至2025 年6月30日止六個月的中期業績；(ii)考慮宣告及派發中期股息（如有）；(iii)考慮暫停 辦理本公司股份過戶登記手續（如有需要）；及(iv)處理其他事務（如有）。 (於百慕達註冊成立之有限公司) (股份代號: 00894) 董事會會議召開日期 於本公告日期，本公司執行董事為紀楚蓮女士、陳宇澄先生及陳達昌先生，及本公司 獨立非執行董事為羅國貴先生、馬紹援先生及容永祺先生。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 萬裕科技集團有限公司 公司秘書 陳達昌 香港，2025 年 8 月 11 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) | 00894 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000,000 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年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: 萬裕科技集團有限公司 呈交日期: 2025 ...

Production and Innovation - The Group's total production capacity exceeds 1 billion pieces of capacitors per month[8] - The Group launched the innovative Polymer Caps in 2006, becoming a major global vendor in this segment[5] - The Group operates state-of-the-art manufacturing facilities in Dongguan and Wuxi, China[8] - The Group has introduced energy-efficient solutions, including capacitors for LED lamps and high-efficiency lighting[9] - The Group has a well-trained R&D team that fosters creativity and innovation in product development[6] - The Group's ongoing investments in R&D for AI and energy storage technologies position it to capitalize on significant market opportunities[56] - The new production facility in Qingyuan, China, is designed to enhance operational efficiency and scale production capabilities[73] Environmental Commitment - The Group's products comply with the European Union's RoHS directive, ensuring they meet environmental standards[7] - The Group is committed to environmental sustainability, with all products being halogen-free and compliant with RoHS[9] Financial Performance - For the year ended December 31, 2024, the company achieved revenue of HK$1,611,568,000, representing a 9.6% increase compared to HK$1,470,952,000 in 2023[32] - Gross profit for 2024 was HK$247,329,000, a decrease of 7.2% from HK$266,408,000 in 2023[32] - EBITDA for 2024 was HK$140,945,000, down 5.8% from HK$149,669,000 in 2023[32] - Profit attributable to shareholders increased by 91.8% to HK$7,818,000 in 2024, compared to HK$4,076,000 in 2023[32] - Earnings per share rose to 1.64 HK cents in 2024, a 90.7% increase from 0.86 HK cents in 2023[32] - Net assets per share decreased by 3.3% to 314.44 HK cents in 2024, down from 325.07 HK cents in 2023[32] - The gross profit margin declined from 18.1% in 2023 to 15.3% for the Year, primarily due to a shift in the product mix towards lower-margin sales[47] - Net profit attributable to Shareholders increased to approximately HK$7,818,000 for the Year, compared to approximately HK$4,076,000 in 2023, driven by effective cost management and lower operating expenses[51] Market Trends and Strategic Focus - The company focused on developing cutting-edge solutions in artificial intelligence and energy storage applications to capture new market opportunities[35] - Strategic partnerships were forged in 2024 to co-develop innovative solutions, expected to yield breakthroughs and new revenue streams[40] - The Group's strategic focus on the mainland China market has allowed it to mitigate some adverse effects of global economic volatility and sustain growth[52] - The Group anticipates steady growth in market demand driven by increasing market needs and industry trends closely aligned with its product offerings[73] - The AI market is projected to reach US$243.72 billion in 2025, with a compounded annual growth rate of 27.67% from 2025 to 2030, resulting in a market volume of US$826.73 billion by 2030[56] - The energy storage sector is emerging as a key driver of global economic growth, supported by government policies and technological advancements, with increasing demand for renewable energy solutions[60] Supply Chain and Risk Management - The company is diversifying its supply chain and exploring alternative sourcing strategies to mitigate risks from ongoing trade tensions[41] - The Group implemented initiatives to streamline production processes and enhance resource efficiency, which helped to partially offset the decline in gross profit margin[50] - The Group achieved a slight improvement in operational efficiency, contributing to a reduction in production costs and maintaining competitiveness in a challenging market environment[61] - The Group is actively involved in optimizing supply chain resources and monitoring systems[101] Leadership and Governance - The company has a strong leadership team with Chan Tat Cheong overseeing corporate finance, treasury management, and investor relations, bringing over 30 years of experience in accounting and financial management[86] - The company has a diverse board with independent non-executive directors who bring extensive legal and financial expertise, enhancing governance and strategic oversight[87][90] - The Company has established various committees, including the Remuneration Committee and Audit Committee, to ensure effective governance and oversight[87] - The Company has mechanisms in place to ensure independent viewpoints are considered in corporate governance, including communication channels with shareholders[188] - The Board consists of three Executive Directors and three Independent Non-executive Directors, with Independent Non-executive Directors representing more than one-third of the Board, complying with Rule 3.10A of the Listing Rules[110] - The Company adopted the Corporate Governance Code and has taken sufficient measures to ensure compliance throughout the Year[108] Employee and Board Development - The Group employed a total of 2,227 employees as of December 31, 2024, an increase from 2,200 in 2023[77] - Newly appointed Directors receive comprehensive induction and training to understand the Company's operations and their responsibilities[131] - Directors participate in continuous professional development, including a specific in-house training seminar on Environmental, Social and Governance (ESG) held in November 2024[134] Financial Health and Capital Management - As of December 31, 2024, the Group's cash and cash equivalents were approximately HK$208,172,000, a decrease from approximately HK$249,720,000 in 2023[64] - The total outstanding bank and other borrowings amounted to approximately HK$1,002,053,000, down from approximately HK$1,032,171,000 in 2023[64] - The net gearing ratio increased to 53.1% as of December 31, 2024, compared to 50.6% in 2023[65] - The net working capital decreased to approximately HK$147,189,000, down by approximately HK$36,637,000 from HK$183,826,000 in 2023[66] Shareholder Engagement - The Company is committed to maintaining strong investor relations, which is crucial for its financial health and market position[86] - A circular will be sent to Shareholders providing information about nominated candidates, including their qualifications and proposed remuneration[147] - Shareholders can propose candidates for directorship without the Board's recommendation, and these candidates' particulars will be sent to all Shareholders[154]

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 1,611,568,000, representing a 9.6% increase from HKD 1,470,952,000 in 2023[3] - Gross profit decreased by 7.2% to HKD 247,329,000 from HKD 266,408,000 in the previous year[3] - Shareholders' profit attributable to the company increased by 91.8% to HKD 7,818,000, compared to HKD 4,076,000 in 2023[3] - Earnings per share rose by 90.7% to HKD 1.64 from HKD 0.86 in the prior year[3] - The company reported a net profit of HKD 8,945,000 for the year, significantly up from HKD 975,000 in 2023[6] - Total comprehensive income for the year was a loss of HKD 50,537,000, compared to a gain of HKD 39,859,000 in the previous year[6] - Operating profit for the group increased to HKD 63,387,000 in 2024 from HKD 60,183,000 in 2023, resulting in an operating margin of 3.9%[15][22] - The company reported a pre-tax profit of HKD 18,400,000 for 2024, up from HKD 11,894,000 in 2023, indicating a significant improvement in profitability[15][24] Assets and Liabilities - Non-current assets totaled HKD 1,494,114,000, slightly down from HKD 1,505,511,000 in 2023[7] - Current assets decreased to HKD 1,653,763,000 from HKD 1,663,607,000 in the previous year[7] - Total liabilities increased to HKD 1,652,549,000 from HKD 1,623,253,000 in 2023[8] - The company's net asset value decreased to HKD 1,495,328,000 from HKD 1,545,865,000 in the previous year[8] - Accounts receivable increased to HKD 699,564,000 in 2024 from HKD 667,016,000 in 2023, with a provision for losses of HKD 39,370,000[29] - The company's net debt ratio as of December 31, 2024, was 53.1%, an increase from 50.6% in 2023, with net debt amounting to approximately HKD 793.88 million[42] - The company's net working capital as of December 31, 2024, was approximately HKD 147.19 million, a decrease of about HKD 36.64 million from HKD 183.83 million in 2023[43] Market Performance - Revenue from the mainland China market increased to HKD 1,218,675,000 in 2024, up from HKD 1,046,688,000 in 2023, showing strong growth in this region[18] - The company’s total non-current assets in mainland China were valued at HKD 1,314,192,000 as of December 31, 2024, slightly down from HKD 1,330,438,000 in 2023[18] - The company achieved a revenue of approximately HKD 1,611,568,000 for 2024, representing a 9.6% increase compared to the previous year[33] Dividends - The board declared a final dividend of HKD 0.49 per share for the year ending December 31, 2024, compared to no dividend in 2023[27] - The board proposed a final dividend of HKD 0.49 per ordinary share for the year ending December 31, 2024, compared to no dividend in 2023[52] - The final dividend is subject to approval at the 2025 Annual General Meeting and is expected to be paid on or around August 29, 2025[52] Strategic Initiatives - The company is focusing on developing cutting-edge solutions related to artificial intelligence and energy storage applications to meet growing demand[34] - Strategic partnerships have been established in 2024 to co-develop innovative solutions that meet market needs, expected to open new revenue streams[34] - The company is diversifying its supply chain and exploring alternative procurement strategies to mitigate external challenges such as trade tensions[35] - The company aims to enhance operational efficiency and profitability while expanding market share and developing innovative solutions to meet changing market demands[44] - The company is expanding its production capacity at a new facility in Qingyuan, China, to enhance operational efficiency and support high-quality product offerings in existing and new markets[45] - Despite challenges such as intense competition and regulatory uncertainties, the company remains optimistic about growth opportunities in the AI and energy storage markets[45] - The company is committed to leveraging its expertise and strategic partnerships to drive sustainable growth and create long-term value for shareholders[46] Employee and Governance - The group employed a total of 2,227 employees as of December 31, 2024, compared to 2,200 employees in 2023[47] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the year[49] - The audit committee reviewed the full-year results for the year ending December 31, 2024, confirming consistency with the consolidated financial statements[51] - There were no purchases, sales, or redemptions of the company's shares during the year up to the announcement date[48] - The company adopted the standard code for regulating directors' conduct in securities trading, with all directors confirming compliance for the year[50] - The annual report containing all required information will be sent to shareholders by April 30, 2025[55] - The company will suspend share transfer registration from June 30, 2025, to July 4, 2025, to determine shareholder eligibility for the final dividend[54] - The board expressed gratitude to all employees, customers, suppliers, banks, and shareholders for their support[56] Economic Outlook - In 2024, the global GDP growth is projected to be 3.2%, a decrease of 0.1 percentage points from 2023, with developed economies growing at 1.7% and emerging Asian economies at 5.2%, including China at 4.8%[38] - The AI market is expected to reach $243.72 billion by 2025, growing at a compound annual growth rate (CAGR) of 27.67% from 2025 to 2030, reaching $826.73 billion by 2030[39] - The renewable energy sector is expected to dominate global electricity generation in the coming decades, with increasing demand for energy storage solutions driven by climate change and sustainability initiatives[40]

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 815,977,000, representing a 7.1% increase compared to HKD 761,975,000 for the same period in 2023[12]. - Gross profit increased by 29.8% to HKD 133,039,000, with the gross margin rising from 13.4% to 16.3%[12]. - The company achieved a turnaround from a net loss of HKD 15,368,000 in 2023 to a net profit of HKD 2,756,000 for the six months ended June 30, 2024[12][13]. - Earnings per share improved from a loss of HKD 3.23 to a profit of HKD 0.58[12]. - The operating profit increased significantly to HKD 32,246,000 from HKD 3,272,000 year-on-year[19]. - The group reported a net profit of HKD 2,392,000 for the period, a recovery from a loss of HKD 17,778,000 in the previous year[19]. - The total tax expense for the six months ended June 30, 2024, was HKD 4,741,000, compared to HKD 2,641,000 for the same period in 2023, reflecting an increase of approximately 79.7%[49]. Cost Management - Interest expenses as a percentage of revenue decreased from 3.7% in 2023 to 3.2% in 2024, reflecting effective cost control measures[13]. - The operational strategy includes strict cost control measures and prudent cash flow management to maintain financial stability[14]. - The financial expenses decreased to HKD 25,852,000 for the six months ended June 30, 2024, from HKD 28,216,000 in the same period of 2023, indicating a reduction of approximately 8.1%[41]. Market and Growth Opportunities - The company is positioned to benefit from the growing demand for capacitors driven by advancements in AI technology, with the AI market projected to exceed USD 184 billion in 2024[14]. - The group plans to focus on high-growth markets such as AI, renewable energy systems, power storage, and robotics[15]. - The diversified customer and product portfolio is crucial for the company's business development and long-term growth opportunities[14]. - Revenue from the mainland China market increased to HKD 620,439,000 for the six months ended June 30, 2024, compared to HKD 532,460,000 in the same period of 2023, marking a growth of about 16.5%[42]. Financial Position - As of June 30, 2024, the group had cash and cash equivalents of HKD 209,886,000, down from HKD 249,720,000 as of December 31, 2023[15]. - The total outstanding bank and other borrowings amounted to HKD 976,779,000, a decrease from HKD 1,032,171,000 as of December 31, 2023[15]. - The net debt-to-equity ratio was 50.1% as of June 30, 2024, compared to 50.6% as of December 31, 2023[15]. - Total liabilities decreased to HKD 1,613,442 thousand as of June 30, 2024, down from HKD 1,649,983 thousand as of December 31, 2023, reflecting a reduction of 2.2%[25]. - The company's total equity as of June 30, 2024, was HKD 1,529,919 thousand, a decrease of 1.0% from HKD 1,545,865 thousand as of December 31, 2023[25]. Employee and Operational Metrics - The total number of employees increased to 2,482 as of June 30, 2024, from 2,200 as of December 31, 2023[16]. - The operating cash inflow for the six months ended June 30, 2024, was HKD 79,214 thousand, significantly higher than HKD 21,935 thousand for the same period in 2023[31]. - The company’s inventory increased to HKD 633,768 thousand as of June 30, 2024, up 2.5% from HKD 616,169 thousand as of December 31, 2023[23]. Shareholder and Governance Matters - The company did not declare an interim dividend for the period ended June 30, 2024, consistent with the previous year[50]. - The company’s total issued share capital remained at HKD 47,555,000 with 475,547,534 shares issued as of June 30, 2024[68]. - The company has complied with the corporate governance code as per the listing rules during the reporting period[80]. - The audit committee reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024[81]. Investment and Asset Management - The company reported a net gain from investment properties of HKD 674,000 for the six months ended June 30, 2024, compared to a gain of HKD 123,000 in the same period of 2023[46]. - The fair value of investment properties as of June 30, 2024, was HKD 372,403,000, a significant increase from HKD 373,858,000 at the beginning of the year, with adjustments reflecting a net loss of HKD 2,129,000 due to currency translation[61]. - The company acquired new property, plant, and equipment worth HKD 18,081,000 during the six months ended June 30, 2024, compared to HKD 22,224,000 in the same period of 2023, indicating a decrease of about 18.5%[51].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 815,977,000, representing a 7.1% increase from HKD 761,975,000 in the same period of 2023[1] - Gross profit increased by 29.8% to HKD 133,039,000 compared to HKD 102,474,000 in the previous year[1] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose by 28.1% to HKD 68,704,000 from HKD 53,615,000[1] - The company reported a profit attributable to shareholders of HKD 2,756,000, a significant recovery from a loss of HKD 15,368,000 in the prior year[1] - Basic earnings per share improved to HKD 0.58 from a loss of HKD 3.23 per share in the same period last year[1] - Operating profit surged to HKD 32,246,000, up from HKD 3,272,000 in the previous year[2] - The company reported a pre-tax profit of HKD 7,133,000 for the current period, compared to a pre-tax loss of HKD 15,137,000 in the previous year, showcasing a positive shift in financial performance[12] - The company reported a net profit attributable to shareholders of approximately HKD 2,756,000 for the six months ending June 30, 2024, a turnaround from a net loss of approximately HKD 15,368,000 in the same period of 2023[28] Revenue and Market Performance - For the six months ended June 30, 2024, the revenue from external customers in the manufacturing, sales, and distribution of electronic components was HKD 815,977,000, representing an increase from HKD 761,975,000 for the same period in 2023, which is a growth of 7.1%[10] - Revenue from the mainland China market was HKD 620,439,000, up from HKD 532,460,000 in the previous year, marking a growth of 16.5%[13] - The company's revenue for the six months ending June 30, 2024, increased by 7.1% compared to the same period in 2023, reflecting stable demand for its products[28] Profitability and Cost Management - The gross profit for the same period was HKD 133,039,000, with a gross margin of 16.3%, compared to a gross profit of HKD 102,474,000 and a gross margin of 13.4% in the previous year, indicating an improvement in profitability[10] - The company’s operating expenses for the six months ended June 30, 2024, were HKD 104,586,000, slightly lower than HKD 106,773,000 in the same period of 2023, indicating effective cost management[10] - Gross margin improved by 2.9 percentage points, rising from 13.4% to 16.3%, attributed to a shift in product sales structure and effective cost control measures[28] - The company successfully reduced its overall interest expense to 3.2% of revenue, down from 3.7% in the same period of 2023, by optimizing its bank loan portfolio[28] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 3,198,309,000, compared to HKD 3,169,118,000 as of December 31, 2023[4] - Current assets increased to HKD 1,708,987,000 from HKD 1,663,607,000 at the end of 2023[4] - The company’s net asset value decreased slightly to HKD 1,529,919,000 from HKD 1,545,865,000[5] - Non-current liabilities totaled HKD 133,661,000, down from HKD 143,472,000 at the end of the previous year[5] - The group reported a total of HKD 842,330,000 in receivables as of June 30, 2024, compared to HKD 765,705,000 at the end of 2023, reflecting an increase of 10.0%[24] - The total amount of payables increased to HKD 364,587,000 as of June 30, 2024, compared to HKD 234,582,000 at the end of 2023, representing a significant increase of 55.4%[27] Employee and Operational Growth - The total number of employees increased to 2,482 as of June 30, 2024, up from 2,200 as of December 31, 2023, reflecting the company's growth strategy[33] Future Outlook and Strategy - The AI market is projected to exceed USD 184 billion in 2024, with significant growth potential, which the company aims to leverage for driving demand for its capacitors[29] - The company plans to penetrate high-growth markets such as AI, renewable energy systems, and robotics, while maintaining a balanced product portfolio to maximize overall profitability[32] - The company continues to focus on R&D investments to maintain its technological leadership and respond accurately to market demands[30] Compliance and Governance - The company has adopted the standard code of conduct for directors trading in securities as per the listing rules appendix C3, confirming full compliance by all directors during the period[36] - The audit committee has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024, which will be included in the interim report to be sent to shareholders by September 30, 2024[37] - The board of directors does not recommend the payment of an interim dividend for this period, consistent with the previous period[37]