[Interim Results Announcement](index=1&type=section&id=Interim%20Results%20Announcement) This section presents the company's interim financial performance, including income, comprehensive income, and financial position statements [Condensed Consolidated Income Statement](index=1&type=section&id=Condensed%20Consolidated%20Income%20Statement) The company's profit for the period significantly increased, primarily due to a substantial rise in net fair value changes of financial assets, despite a slight revenue decline | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 140,661 | 141,050 | -0.28% | | Gross Profit | 117,243 | 118,247 | -0.85% | | Other Income and Gains | 14,737 | 11,698 | +26.0% | | Net Fair Value Changes of Financial Assets at Fair Value Through Profit or Loss | 207,503 | 90,627 | +128.97% | | Operating and Administrative Expenses | (17,161) | (18,630) | -7.99% | | Finance Costs | (27,635) | (34,925) | -20.99% | | Profit Before Tax | 294,667 | 167,012 | +76.43% | | Profit for the Period | 286,250 | 159,075 | +79.95% | | Profit for the Period Attributable to Owners of the Company | 238,382 | 128,541 | +85.45% | | Basic and Diluted Earnings Per Share | 28.51 HK cents | 15.37 HK cents | +85.50% | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) The company's total comprehensive income for the period grew substantially, driven by significant profit growth, with minimal impact from exchange differences | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Profit for the Period | 286,250 | 159,075 | +79.95% | | Exchange Differences on Translation of Overseas Operations | 26 | (186) | N/A | | Total Comprehensive Income for the Period | 286,276 | 158,889 | +80.18% | | Total Comprehensive Income for the Period Attributable to Owners of the Company | 238,410 | 128,402 | +85.68% | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets and net assets increased, with a notable rise in net current assets, primarily from financial assets at fair value and cash equivalents | Indicator | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Total Non-Current Assets | 11,152,524 | 11,153,960 | -0.01% | | Total Current Assets | 3,015,980 | 2,223,354 | +35.65% | | Total Current Liabilities | 1,091,953 | 539,875 | +102.26% | | Net Current Assets | 1,924,027 | 1,683,479 | +14.29% | | Total Assets Less Current Liabilities | 13,076,551 | 12,837,439 | +1.86% | | Total Non-Current Liabilities | 2,849,762 | 2,879,623 | -1.04% | | Net Assets | 10,226,789 | 9,957,816 | +2.70% | | Total Equity | 10,226,789 | 9,957,816 | +2.70% | | Financial Assets at Fair Value Through Profit or Loss | 1,191,652 | 1,004,358 | +18.65% | | Cash and Cash Equivalents | 963,178 | 388,261 | +148.08% | | Interest-Bearing Bank Borrowings (Current) | 798,594 | 248,594 | +221.25% | | Interest-Bearing Bank Borrowings (Non-Current) | 1,360,000 | 1,392,500 | -2.33% | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section details the basis of preparation, accounting policies, segment information, and specific financial statement items for the interim period [Basis of Preparation and Principal Accounting Policies](index=6&type=section&id=Basis%20of%20Preparation%20and%20Principal%20Accounting%20Policies) Interim financial statements are prepared in accordance with HKFRS 34 and HKEX Listing Rules, with consistent accounting policies and no material impact from new standards - Interim financial statements are prepared in compliance with Appendix D2 of the HKEX Listing Rules and Hong Kong Accounting Standard 34 "Interim Financial Reporting"[7](index=7&type=chunk) - The first-time application of HKAS 21 (Amendment) "Lack of Exchangeability" in this period had no impact on the condensed consolidated interim financial statements[8](index=8&type=chunk) [Segment Information](index=6&type=section&id=Segment%20Information) The Group's operations are categorized into property investment, serviced apartment and property management, and trading and investment, with performance assessed by adjusted profit before tax - The Group's operations are divided into three reportable segments: property investment, provision of serviced apartments and property management services, and trading and investment[9](index=9&type=chunk)[11](index=11&type=chunk) - Segment performance is assessed based on adjusted profit before tax, excluding unallocated corporate expenses, bank interest income, share of results of investments accounted for using the equity method, other gains, and finance costs[9](index=9&type=chunk) Segment Revenue (External Customers) and Segment Results | Segment | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | **Segment Revenue (External Customers)** | | | | | Property Investment | 94,355 | 97,506 | -3.13% | | Provision of Serviced Apartments and Property Management Services | 15,385 | 16,313 | -5.79% | | Trading and Investment | 30,921 | 27,231 | +13.55% | | **Total Revenue** | 140,661 | 141,050 | -0.28% | | **Segment Results** | | | | | Property Investment | 80,358 | 83,253 | -3.50% | | Provision of Serviced Apartments and Property Management Services | (1,710) | (1,198) | +42.74% | | Trading and Investment | 236,972 | 116,788 | +103.09% | | **Total Segment Results** | 315,620 | 198,843 | +58.73% | Geographical Information (External Customer Revenue) | Region | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Hong Kong (External Customer Revenue) | 66,604 | 63,722 | +4.52% | | Mainland China (External Customer Revenue) | 74,057 | 77,328 | -4.23% | | **Total External Customer Revenue** | 140,661 | 141,050 | -0.28% | [Revenue, Other Income and Gains](index=8&type=section&id=Revenue%2C%20Other%20Income%20and%20Gains) Total revenue slightly decreased due to lower rental and property management income, while other income and gains significantly increased from bank interest and government grants Revenue Sources | Revenue Source | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Provision of Serviced Apartments and Property Management Services | 15,385 | 16,313 | -5.79% | | Fixed Payment Rental Income from Investment Properties | 94,355 | 97,506 | -3.23% | | Dividend Income from Equity Investments in Listed Shares | 30,765 | 27,075 | +13.63% | | Interest Income from Debt Securities | 156 | 156 | 0.00% | | **Total Revenue** | 140,661 | 141,050 | -0.28% | Other Income and Gains | Other Income and Gains | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Government Grants and Subsidies | 3,983 | 3,283 | +21.32% | | Interest Income from Bank Deposits | 7,548 | 5,180 | +45.71% | | Interest Income from Amounts Due from Investments Accounted for Using the Equity Method | 361 | – | N/A | | Others | 2,845 | 3,235 | -12.06% | | **Total Other Income and Gains** | 14,737 | 11,698 | +26.0% | - Revenue from provision of serviced apartments and property management services is recognized monthly, as customers simultaneously receive and consume the benefits as the Group performs[16](index=16&type=chunk) [Profit Before Tax](index=9&type=section&id=Profit%20Before%20Tax) Profit before tax was primarily influenced by net foreign exchange gains and increased employee benefit expenses | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Depreciation of Property, Plant and Equipment | 1,408 | 1,278 | +10.17% | | Depreciation of Right-of-Use Assets | 160 | 4 | +3900.00% | | Foreign Exchange Differences, Net | (3,328) | (83) | +3909.64% | | Total Employee Benefit Expenses | 17,253 | 16,130 | +6.96% | [Finance Costs](index=9&type=section&id=Finance%20Costs) Interest on bank borrowings, the primary finance cost, saw a significant year-on-year decrease | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Interest on Bank Borrowings | 27,635 | 34,925 | -20.99% | [Income Tax](index=10&type=section&id=Income%20Tax) Hong Kong income tax is 16.5% (8.25% for qualifying profits), Mainland China subsidiaries are taxed at 25%, and total income tax expense slightly increased - Hong Kong income tax is calculated at 16.5%, with the first HK$2 million of assessable profits for qualifying entities taxed at 8.25%[19](index=19&type=chunk) - Mainland China subsidiaries are subject to a 25% tax rate, while non-resident enterprises generally incur a 10% corporate income tax on income sourced within China[19](index=19&type=chunk) Total Income Tax Expense for the Period | Tax Source | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Current Tax – Hong Kong | 2,317 | 1,443 | +60.57% | | Current Tax – Mainland China | 6,062 | 6,395 | -5.21% | | Current Tax – Malaysia | 38 | 99 | -61.62% | | **Total Tax Expense for the Period** | 8,417 | 7,937 | +6.05% | [Dividends](index=10&type=section&id=Dividends) The company declared a final dividend of HK 2 cents per ordinary share for 2024 and an interim dividend of HK 2 cents, consistent with the prior year Dividends Paid and Declared | Dividend Type | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Final Dividend Paid for 2024 (HK 2 cents per share) | 16,721 | 16,721 | | Interim Dividend Declared (HK 2 cents per share) | 16,721 | 16,721 | - The Board of Directors approved an interim dividend of HK 2 cents per ordinary share on August 28, 2025, to be dispatched on or about October 23, 2025[23](index=23&type=chunk) [Earnings Per Share](index=11&type=section&id=Earnings%20Per%20Share) Basic earnings per share significantly increased due to a substantial rise in profit attributable to ordinary equity holders, with no dilutive potential ordinary shares | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Profit Attributable to Ordinary Equity Holders of the Company (HK$ Thousand) | 238,382 | 128,541 | +85.45% | | Weighted Average Number of Ordinary Shares in Issue (Shares) | 836,074,218 | 836,074,218 | 0.00% | | **Basic and Diluted Earnings Per Share** | **28.51 HK cents** | **15.37 HK cents** | **+85.50%** | - The Group had no outstanding potential dilutive ordinary shares during the reporting period[26](index=26&type=chunk) [Trade Receivables](index=11&type=section&id=Trade%20Receivables) Trade receivables, mainly from property management and leasing, increased in total, with a notable rise in balances over three months old, and no collateral held - Trade receivables primarily consist of amounts due from property management services and leasing activities, where tenants are required to pay rent on the first day of the tenancy and provide a security deposit equivalent to 2-3 months' rent[27](index=27&type=chunk) - The Group does not hold any collateral or other credit enhancements for trade receivables balances[27](index=27&type=chunk) Trade Receivables Aging Analysis | Aging | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Total Trade Receivables | 6,611 | 5,572 | +18.65% | | Within 1 Month | 1,197 | 1,948 | -38.66% | | 1 to 2 Months | 283 | 700 | -59.57% | | 2 to 3 Months | 255 | 765 | -66.67% | | 3 to 12 Months | 4,483 | 1,765 | +153.99% | | Over 1 Year | 393 | 394 | -0.25% | [Trade Payables](index=12&type=section&id=Trade%20Payables) Trade payables are non-interest bearing and typically settled within sixty days, with the total amount significantly decreasing at period-end Trade Payables Aging Analysis | Aging | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Total Trade Payables (Within 1 Month) | 602 | 2,170 | -72.26% | - Trade payables are non-interest bearing and generally settled within a sixty-day period[29](index=29&type=chunk) [Suspension of Share Register](index=13&type=section&id=Suspension%20of%20Share%20Register) This section outlines the temporary suspension of share registration for determining interim dividend entitlements [Suspension of Share Register Details](index=13&type=section&id=Suspension%20of%20Share%20Register%20Details) Share registration will be suspended from September 15 to 17, 2025, to identify eligible shareholders for the interim dividend payable around October 23 - The share register will be suspended from September 15 to September 17, 2025, during which no share transfers will be registered[30](index=30&type=chunk) - The interim dividend will be paid to shareholders whose names appear on the register of members on September 17, 2025, with dispatch on or about October 23, 2025[30](index=30&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) This section provides a comprehensive review of the Group's business and financial performance, including property and financial investments, liquidity, and human resources [Business Review](index=13&type=section&id=Business%20Review) The Group's business review covers property investment performance in Hong Kong and Mainland China, alongside significant gains from its financial investment portfolio - Property investment generated stable rental income in Hong Kong, but rental and management fee income from serviced apartments in Shanghai, China, decreased[31](index=31&type=chunk)[32](index=32&type=chunk) - The financial investment portfolio recorded significant net fair value gains and dividend income, primarily from Hong Kong-listed blue-chip stocks and exchange-traded funds[35](index=35&type=chunk) [Property Investment](index=13&type=section&id=Property%20Investment) The Group's Hong Kong investment properties generated stable rental income, while Shanghai's project maintained high occupancy but saw slightly reduced rental income, and Zhuhai projects faced demolition and compensation disputes - Hong Kong investment properties (office buildings, industrial buildings, retail shops, and car parks) generated stable rental income of approximately **HK$35 million**[31](index=31&type=chunk) - The "Windsor International" project in Shanghai, China, maintained an average occupancy rate of approximately **86%**, generating rental and management fee income of approximately **HK$74 million**, a year-on-year decrease of approximately **4%**[32](index=32&type=chunk) - Demolition progress for the Zhuhai Qianshan project is slow, and the Group has proposed planning adjustments to expedite the process[33](index=33&type=chunk) - The Zhuhai Doumen project faces disputes over land resumption compensation, and the Group has initiated administrative litigation against local government authorities[34](index=34&type=chunk) [Financial Investment](index=15&type=section&id=Financial%20Investment) The Group holds approximately HK$1.188 billion in highly liquid equity investments, primarily Hong Kong-listed blue-chip stocks and ETFs, recording significant fair value gains and dividend income Highly Liquid Equity Investments | Indicator | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Highly Liquid Equity Investments | 1,188,000 | 980,000 | +21.22% | Equity Investment Performance | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Net Fair Value Gains from Equity Investments | 207,000 | 91,000 | +127.47% | | Dividend Income | 31,000 | 27,000 | +14.81% | - Key investments include Tracker Fund of Hong Kong, HSBC Holdings, Hang Seng China Enterprises Index ETF, Bank of China, China Mobile, China Life Insurance, and PetroChina, among other Hong Kong-listed blue-chip stocks and ETFs[36](index=36&type=chunk)[37](index=37&type=chunk) - Management will closely monitor equity investment performance and market conditions to mitigate financial risks and adjust the investment portfolio as appropriate[38](index=38&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) The Group's profit for the period surged by approximately 80% to HK$286 million, driven by substantial unrealized fair value gains and dividend income from equity investments Key Financial Performance Indicators | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Profit for the Period | 286,000 | 159,000 | +80% | | Rental and Property Management Services Income | 110,000 | 114,000 | -4% | | Unrealized Fair Value Gains from Equity Investments | 207,000 | 91,000 | +127% | | Dividend Income | 31,000 | 27,000 | +15% | [Significant Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures](index=17&type=section&id=Significant%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20and%20Joint%20Ventures) During the reporting period, the Group did not undertake any significant acquisitions or disposals of subsidiaries, associates, or joint ventures - For the six months ended June 30, 2025, the Group had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures[40](index=40&type=chunk) [Foreign Currency Risk](index=17&type=section&id=Foreign%20Currency%20Risk) The Group's primary foreign exchange risk is associated with RMB fluctuations, which management monitors closely, with no hedging instruments held at period-end - The Group's monetary assets, liabilities, and transactions are primarily denominated in RMB, HKD, USD, and MYR, with the main foreign exchange risk related to RMB[41](index=41&type=chunk) - Management will closely monitor the impact of RMB fluctuations on foreign exchange risk and hedge currency risk when appropriate[41](index=41&type=chunk) - As of June 30, 2025, the Group did not hold any financial instruments for foreign currency hedging purposes[42](index=42&type=chunk) [Liquidity and Financial Resources](index=18&type=section&id=Liquidity%20and%20Financial%20Resources) The Group maintains ample liquidity, supported by internal cash flow and bank financing, with significant increases in highly liquid equity investments and cash equivalents - The Group funds its operations through internally generated cash flows and bank financing[43](index=43&type=chunk) Liquidity and Financial Resources Overview | Indicator | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Highly Liquid Equity Investments | 1,188,000 | 980,000 | +21.22% | | Cash and Cash Equivalents | 963,000 | 388,000 | +148.20% | | Total Bank Borrowings | 2,159,000 | 1,641,000 | +31.57% | | Total Equity | 10,227,000 | 9,958,000 | +2.70% | | Gearing Ratio | 21% | 16% | +5 percentage points | - Bank borrowings are secured by legal charges over certain of the Group's investment properties in Hong Kong and Shanghai, and properties under development in Malaysia, primarily bearing floating interest rates[43](index=43&type=chunk) Bank Borrowings Maturity Profile | Bank Borrowings Maturity (HK$ Thousand) | June 30, 2025 | | :--- | :--- | | Within One Year | 592,500 | | In the Second Year | 280,000 | | In the Third to Fifth Year | 1,204,465 | | After Five Years | 81,629 | | **Total** | **2,158,594** | [Contingent Liabilities](index=18&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[46](index=46&type=chunk) [Commitments](index=18&type=section&id=Commitments) As of June 30, 2025, the Group had commitments of approximately HK$4 million for construction and land development expenditures, consistent with year-end 2024 Capital Commitments | Commitment Type | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Commitments for Construction and Land Development Expenditures | 4,000 | 4,000 | [Employees and Remuneration Policy](index=19&type=section&id=Employees%20and%20Remuneration%20Policy) The Group employs approximately 201 staff across four locations, with employee expenses around HK$17 million, and a remuneration policy based on performance, experience, and market conditions - As of June 30, 2025, the Group employed approximately **201** staff across Shanghai, Zhuhai, Hong Kong, and Malaysia[48](index=48&type=chunk) Employee Expenses | Indicator | Six Months Ended June 30, 2025 (HK$ Thousand) | Six Months Ended June 30, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Employee Expenses (Including Directors' Emoluments) | 17,000 | 16,000 | +6.25% | - The remuneration policy is determined based on employee performance, experience, and market conditions, and is reviewed annually, with directors not participating in decisions regarding their own remuneration[48](index=48&type=chunk) [Outlook](index=19&type=section&id=Outlook) This section provides the Group's forward-looking statements on property and financial investments, highlighting market challenges and strategic responses [Property Investment Outlook](index=19&type=section&id=Property%20Investment%20Outlook) The Group maintains a cautious outlook for property investment, anticipating weak demand in Hong Kong and stable income in Shanghai, while actively expanding overseas to diversify risk - Demand in Hong Kong's office and industrial building markets remains weak, potentially adversely affecting property valuations, and fluctuating HIBOR may increase borrowing costs[49](index=49&type=chunk) - Income from Shanghai, China, is expected to remain stable in 2025, but significant uncertainties persist regarding full-year financial performance[49](index=49&type=chunk) - The Group will continue to expand overseas investments, including Malaysian property development and land banking, to broaden its core business and diversify risks[49](index=49&type=chunk) [Financial Investment Outlook](index=19&type=section&id=Financial%20Investment%20Outlook) Despite strong first-half performance, global economic uncertainties may cause significant volatility in the financial investment portfolio, prompting a cautious investment strategy - Global financial markets are influenced by factors such as trade wars, interest rate trends, and geopolitical situations in Europe and the Middle East, which could lead to significant volatility in the listed securities portfolio in the second half of the year[50](index=50&type=chunk) - Management will continue to adopt a cautious investment strategy to ensure that core business operations are not affected by financial market risks[50](index=50&type=chunk) [Other Information](index=20&type=section&id=Other%20Information) This section covers post-reporting period events, securities transactions, audit committee review, corporate governance, and board composition [Events After Reporting Period](index=20&type=section&id=Events%20After%20Reporting%20Period) As of the announcement date, no significant events have occurred after the reporting period that would materially impact the Group's operations and financial performance - As of June 30, 2025, and up to the date of this announcement, no significant events have occurred that could materially affect the Group's operations and financial performance[51](index=51&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=20&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the reporting period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities - For the six months ended June 30, 2025, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[52](index=52&type=chunk) [Review by Audit Committee](index=20&type=section&id=Review%20by%20Audit%20Committee) The Audit Committee has reviewed the Group's accounting principles, internal controls, financial reporting matters, and the unaudited interim results for the period - The Audit Committee has reviewed the Group's accounting principles, internal controls, and financial reporting matters, and has also reviewed the unaudited interim results for the six months ended June 30, 2025[53](index=53&type=chunk) [Corporate Governance Code](index=20&type=section&id=Corporate%20Governance%20Code) The company complied with the Corporate Governance Code during the reporting period, with an exception for directors' rotation to maintain strong and consistent leadership - The company has complied with the Corporate Governance Code set out in Part 2 of Appendix C1 to the Listing Rules throughout the reporting period, with the exception of the directors' rotation terms[54](index=54&type=chunk) - The Board believes that exempting the Chairman and Managing Director from the rotation terms is in the company's best interest to ensure strong and consistent leadership[54](index=54&type=chunk) [Standard Code for Securities Transactions by Directors](index=21&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company adopted the Standard Code for Securities Transactions by Directors, and all directors confirmed compliance during the reporting period - The company has adopted the Standard Code for Securities Transactions by Directors as set out in Appendix C3 to the Listing Rules, and all directors confirmed compliance during the reporting period[55](index=55&type=chunk) [Board of Directors](index=21&type=section&id=Board%20of%20Directors) The company's Board of Directors comprises executive directors Mr Liu Chi Yung, Mr Liu Chi Keung, Ms Leung Wai Sang, and independent non-executive directors Mr Lo Man Lun, Mr Lo Kam Cheung, Mr Tsui Ka Wah, and Mr Ng Sing Yip - The company's executive directors are Mr Liu Chi Yung, Mr Liu Chi Keung, and Ms Leung Wai Sang[56](index=56&type=chunk) - The company's independent non-executive directors are Mr Lo Man Lun, Mr Lo Kam Cheung, Mr Tsui Ka Wah, and Mr Ng Sing Yip[56](index=56&type=chunk)

Group 1 - The company, Wan Shi Chang International (00898.HK), will hold a board meeting on August 28, 2025 [1] - The meeting will review and approve the group's interim results for the six months ending June 30, 2025, and discuss the proposal for an interim dividend distribution, if any [1]

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之內容概不負責，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份內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 MULTIFIELD INTERNATIONAL HOLDINGS LIMITED 萬事昌國際控股有限公司＊ 萬事昌國際控股有限公司 (「本公司」) 之董事會 (「董事會」) 謹此宣佈，董事會會議將於 二零二五年八月二十八日 (星期四) 舉行，藉以 (其中包括) 批准刊發本公司及其附屬公司截 至二零二五年六月三十日止六個月之中期業績，及考慮建議派發中期股息 (如有) 。 承董事會命 萬事昌國際控股有限公司 主席 劉志勇 香港，二零二五年八月十三日 於本 公 告日 期，本 公司 執 行董 事 為劉 志勇 先 生、劉志 奇 先生 及 梁慧 生 女士，而 本 公司 獨 立非 執 行董 事為 盧 敏霖 先 生、 勞錦 祥 先生 、 徐家 華先 生 及伍 成 業先 生。 ＊ 僅 供 識別 (於百慕達註冊成立之有限公司) (股份代號: 898) 董事會會議召開日期 ...

Group 1 - Wan Shi Chang International (00898) announced that Deng Zhangqi will resign as the company secretary and authorized representative effective from August 8, 2025, to seek personal development [1] - Huang Jiajun has been appointed as the company secretary and authorized representative, effective from August 8, 2025 [1]

Group 1 - The company Wan Shi Chang International (00898.HK) announced that Deng Zhangqi will resign as the company secretary and will no longer serve as the authorized representative starting from August 8, 2025, to seek personal development [1] - The board further announced that Huang Jiajun has been appointed as the company secretary and authorized representative, effective from August 8, 2025 [1]

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之內容概不負責，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份內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 MULTIFIELD INTERNATIONAL HOLDINGS LIMITED 萬事昌國際控股有限公司＊ 香港 ， 二零 二 五年 八月 八 日 於本 公 告日 期，本 公司 執 行董 事 為劉 志勇 先 生、劉志 奇 先生 及 梁慧 生 女士，而 本 公司 獨 立非 執 行董 事為 盧 敏霖 先 生、 勞錦 祥 先生 、 徐家 華先 生 及伍 成 業先 生 。 董事 會 進一 步 宣佈，黃家 俊 先生（「 黃 先 生 」）已 獲 委任 為 本公 司 之公 司 秘書 及 授權 代 表，由 二 零二 五年 八 月八 日 起生 效。黃 先 生持 有 香港 大學 社 會科 學 學士 學 位、香 港 城市 大 學 理學 碩 士（專 業 會 計與 企 業管 治 ）學 位、及 倫敦 大 學 法 律學士 及法 律 碩士 學 位。彼為 香 港會 計 師公 會及 香 港公 司 治理 公會 會 員，並於 金 融、會 計、 ...

Group 1 - The company, Wan Shi Chang International (00898.HK), expects to achieve a consolidated profit before tax of approximately HKD 280 million to HKD 320 million for the six months ending June 30, 2025, compared to a profit before tax of approximately HKD 167 million for the six months ending June 30, 2024 [1] - The significant improvement in the company's financial performance during this period is primarily attributed to an increase in the fair value gains of financial assets recognized at fair value through profit or loss [1] - Additionally, the relatively low level of the Hong Kong Interbank Offered Rate (HIBOR) has contributed to a decrease in financing costs for the company [1]

Group 1 - The company, Wan Shi Chang International (00898), anticipates a consolidated profit before tax of approximately HKD 280 million to HKD 320 million for the six months ending June 30, 2025, compared to a profit before tax of about HKD 167 million for the same period ending June 30, 2024 [1] - The significant improvement in financial performance is primarily attributed to an increase in the fair value gains of financial assets recognized at fair value through profit or loss [1] - The relatively low level of the Hong Kong Interbank Offered Rate (HIBOR) has contributed to a decrease in financing costs [1]

Core Viewpoint - The company expects a significant increase in pre-tax profit for the six months ending June 30, 2025, compared to the same period in 2024, indicating strong financial performance improvement [1] Financial Performance - The anticipated pre-tax profit for the period is projected to be between approximately HKD 280 million and HKD 320 million, a substantial increase from the HKD 167 million recorded for the six months ending June 30, 2024 [1] - The improvement in financial performance is primarily attributed to an increase in the net fair value gains of financial assets measured at fair value through profit or loss [1] - Additionally, the relatively low level of the Hong Kong Interbank Offered Rate (HIBOR) has contributed to a decrease in financing costs [1]

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之內容概不負責，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份內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 MULTIFIELD INTERNATIONAL HOLDINGS LIMITED 萬事昌國際控股有限公司＊ (於 百 慕達 註 冊成 立 之有 限 公司 ) (股份代號: 898) 正面盈利預告 本公告 乃 由萬事昌國際控股有限公司(「本公司 」，連同其附屬公司，統稱「本 集 團 」 )根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則 (「 上市規則 」 )第 13.09條 及 證券及期貨條例 (香 港 法 例 第 571章 )第 XIVA部 項 下 內 幕 消 息 條 文 (具 有 上 市 規 則 賦予 之 涵義 )刊發 。 本公司董事會 (「董 事 會 」 )謹此 知 會 本公司 股東 (「股 東 」 )及 潛 在投 資 者 ， 基 於 對本 集 團截 至 二零 二五 年 六月 三 十日 止六個月(「本期間 」)未經 審 核綜 合 管 理賬 目及其他 董事會 目 前 可得資 ...