Integrated Waste Solutions Group Holdings Limited 綜合環保集團有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (stock code: 923) （股份代號：923） 23 December 2025 Dear Non-registered Shareholder(s) (1), Integrated Waste Solutions Group Holdings Limited (the "Company") – Notice of Publication of the interim report for the six months ended 30 September 2025 (the "Interim Report") Please be informed that the English and Chinese versions of the Interim Report are available on the website of ...

Integrated Waste Solutions Group Holdings Limited 綜合環保集團有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (stock code: 923) （股份代號：923） 23 December 2025 Dear Registered Shareholder(s), Integrated Waste Solutions Group Holdings Limited (the "Company") – Notice of Publication of the interim report for the six months ended 30 September 2025 (the "Interim Report") Please be informed that the English and Chinese versions of the Interim Report are available on the website of the Com ...

目 錄 | 公司資料 | 2 | | --- | --- | | 管理層討論及分析 | 3 | | 其他資料 | 8 | | 未經審核簡明綜合損益及其他全面收益表 | 13 | | 未經審核簡明綜合財務狀況表 | 14 | | 未經審核簡明綜合權益變動表 | 15 | | 未經審核簡明綜合現金流量表 | 16 | | 未經審核中期財務報告附註 | 17 | | 獨立核數師審閱報告 | 32 | 公司資料 董事 執行董事 林景生先生 （行政總裁） 譚瑞堅先生 非執行董事 鄭志明先生 （主席） 李志軒先生 呂施施女士 獨立非執行董事 周紹榮先生 黃文宗先生 陳定邦先生 董事會委員會 執行委員會 林景生先生 （主席） 譚瑞堅先生 審核委員會 黃文宗先生 （主席） 鄭志明先生 周紹榮先生 陳定邦先生 李志軒先生 薪酬委員會 陳定邦先生 （主席） 周紹榮先生 黃文宗先生 李志軒先生 提名委員會 周紹榮先生 （主席） 黃文宗先生 陳定邦先生 李志軒先生 呂施施女士 公司秘書 吳心瑜女士 授權代表 譚瑞堅先生 吳心瑜女士 核數師 國富浩華（香港）會計師事務所有限公司 根據會計及財務匯報局條例 註冊的公眾利益實體核數師 開曼 ...

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 綜合環保集團有限公司 呈交日期: 2025年12月1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) | 00923 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 7,500,000,000 | HKD | | 0.1 | HKD | | 750,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 7,500,000,000 | HKD | | 0.1 | HKD | | 750,000,000 | 本月底法 ...

Core Viewpoint - Comprehensive Environmental Group (00923.HK) reported a revenue of HKD 20.7 million for the six months ending September 30, 2025, with a reduced loss attributable to equity shareholders of HKD 12.4 million, marking a decrease in loss of approximately HKD 7.2 million compared to the same period ending September 30, 2024 [1] Financial Performance - Revenue for the six-month period was HKD 20.7 million [1] - Loss attributable to equity shareholders was HKD 12.4 million [1] - The loss decreased by approximately HKD 7.2 million compared to the previous year [1]

Core Insights - The company reported a revenue of HKD 20.66 million for the six months ending September 30, 2025, representing a year-on-year decrease of 7.86% [1] - The loss attributable to equity shareholders was HKD 12.409 million, a reduction of 36.74% compared to the previous year [1] - Basic and diluted loss per share was HKD 0.26 [1] Financial Performance - The operating segment's performance decreased by HKD 3.9 million or 172.6%, primarily due to a decline in profit margins from the CMDS business [1] - Net corporate expenses decreased by HKD 7.3 million or 29.3%, mainly due to a reduction of HKD 7.9 million in depreciation and amortization expenses related to the company's Tseung Kwan O land and buildings [1] - The company made a provision for impairment loss of HKD 352.7 million, which reduced the carrying value of land and buildings to their recoverable amount as of March 31, 2025 [1]

Core Insights - The company reported a revenue of HKD 20.66 million for the six months ending September 30, 2025, representing a year-on-year decrease of 7.86% [1] - The loss attributable to equity shareholders was HKD 12.41 million, a reduction of 36.74% compared to the previous year [1] - Basic and diluted loss per share was HKD 0.26 [1] Financial Performance - The operating segment's performance decreased by HKD 3.9 million or 172.6%, primarily due to a decline in profit margins from the CMDS business [1] - Net corporate expenses decreased by HKD 7.3 million or 29.3%, mainly due to a reduction in depreciation and amortization expenses related to the Tseung Kwan O land and buildings by HKD 7.9 million [1] - The company made a provision for impairment loss of HKD 352.7 million, which reduced the carrying value of land and buildings to their recoverable amount as of March 31, 2025 [1]

Revenue and Profitability - Revenue for the six months ended September 30, 2025, was HKD 20.7 million, a decrease of 7.9% compared to HKD 22.4 million for the same period in 2024[2] - Gross profit decreased by 23.9% to HKD 9.3 million from HKD 12.3 million year-on-year[2] - Loss attributable to equity shareholders was HKD 12.4 million, a 36.7% improvement from a loss of HKD 19.6 million in the previous year[2] - Basic and diluted loss per share improved to HKD 0.26 from HKD 0.41, reflecting a 36.7% reduction in loss per share[2] - Operating loss for the period was HKD 18.5 million, compared to HKD 22.8 million in the previous year[3] - Total comprehensive loss for the period was HKD 11.5 million, down from HKD 19.7 million in the previous year[4] - The total loss before tax for the six months ended September 30, 2025, was HKD 12,580,000, compared to a loss of HKD 19,679,000 for the same period in 2024[22] - The company reported a net loss of HKD 12,639,000 for the six months ended September 30, 2025, compared to a net loss of HKD 19,679,000 in the previous year[22] Revenue Breakdown by Segment - For the six months ended September 30, 2025, total revenue from customer contracts was HKD 20,660,000, a decrease of 7.8% compared to HKD 22,423,000 for the same period in 2024[15] - The segment revenue for CMDS was HKD 5,869,000, down 28.5% from HKD 8,186,000 in the previous year[19] - The logistics services segment reported revenue of HKD 1,236,000, a decrease of 9.2% from HKD 1,361,000 in the prior year[19] - Revenue from the sale of recycled paper and materials increased to HKD 13,355,000, up 10.7% from HKD 12,065,000 in the previous year[19] - Revenue from the sales of recycled paper increased by HKD 1,313,000 or 11.0% to HKD 13,275,000, driven by a 10.4% increase in sales volume[49] - CMDS service revenue decreased by HKD 2,317,000 or 28.3% to HKD 5,869,000 due to reduced income from non-paper destruction projects[50] Assets and Liabilities - Non-current assets amounted to HKD 222.5 million, slightly down from HKD 224.9 million as of March 31, 2025[5] - Current assets decreased to HKD 44.9 million from HKD 56.6 million, primarily due to a reduction in cash and bank deposits[5] - The net value of trade receivables as of September 30, 2025, was HKD 4,819,000, an increase from HKD 4,219,000 as of March 31, 2025[35] - The company had a total of HKD 5,457,000 in trade receivables as of September 30, 2025, an increase from HKD 4,857,000 as of March 31, 2025[35] - The company recognized a total impairment of HKD 638,000 against trade receivables as of both September 30, 2025, and March 31, 2025[36] - As of September 30, 2025, the company's accounts payable amounted to HKD 1,349,000, with overdue payments exceeding 120 days totaling HKD 503,000[37] - The net debt balance as of September 30, 2025, was HKD 17,900,000, an increase from HKD 7,300,000 as of March 31, 2025, with a debt-to-equity ratio of 8.6%[56] Income and Expenses - Other income increased significantly to HKD 2.675 million from HKD 0.399 million, indicating a strong growth in non-operating revenue[3] - Other income for the six months ended September 30, 2025, was HKD 2,675,000, compared to HKD 399,000 in the same period of 2024[20] - The financing income for the six months ended September 30, 2025, was HKD 328,000, a decrease from HKD 1,721,000 in the previous year[22] - The group recorded a significant decrease in corporate expenses by HKD 7,324,000 or 29.3%, primarily due to reduced depreciation and amortization expenses related to its Tseung Kwan O property[46] - Sales, distribution, administrative, and other operating expenses totaled HKD 30,500,000, a decrease of HKD 4,900,000 or 13.8% due to reduced depreciation and amortization expenses[53] - The group reported an EBITDA loss of HKD 6,800,000, slightly increasing by HKD 100,000 from the previous period's loss of HKD 6,700,000[54] Dividends and Share Options - The company did not recommend any interim dividend for the six months ended September 30, 2025[2] - The company has not declared or paid any dividends for the six months ended September 30, 2025, consistent with the previous period[41] - The company has not granted, exercised, or canceled any share options under its share option scheme since its adoption on August 30, 2023[41] Future Outlook and Strategic Plans - The company expects that the application of new IFRS standards will not have a significant impact on the consolidated financial statements in the foreseeable future[11] - The company is currently evaluating the specific impact of new IFRS standards on future consolidated financial statements[11] - The company plans to return the lease of its Tseung Kwan O headquarters to alleviate long-term financial pressure, with the move expected to enhance operational efficiency[45] - The group anticipates stable revenue sources from its high-quality CMDS services and efficient logistics fleet, with growth opportunities from the expanded regulatory scope for electronic waste recycling in Hong Kong and the mainland China market[62] Corporate Governance - The audit committee consists of three independent non-executive directors and two non-executive directors, overseeing the review of the unaudited interim results for the six months ending September 30, 2025[67] - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending September 30, 2025[68] - The interim results announcement is available on the company's website and the designated website of the Hong Kong Stock Exchange[69]

Core Viewpoint - Comprehensive Environmental Group (00923.HK) announced a board meeting scheduled for November 27, 2025, to consider and potentially approve the release of the unaudited consolidated interim results for the six months ending September 30, 2025, and to consider the proposal for dividend distribution if applicable [1] Group 1 - The board meeting will take place on November 27, 2025 [1] - The meeting will focus on the unaudited consolidated interim results for the six months ending September 30, 2025 [1] - The company will also consider the proposal for dividend distribution during the meeting if deemed appropriate [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。 於本公告日期，董事會包括兩名執行董事，分別為林景生先生及譚瑞堅先生；三 名非執行董事，分別為鄭志明先生（主席）、李志軒先生及呂施施女士；以及三 名獨立非執行董事，分別為周紹榮先生、黃文宗先生及陳定邦先生。 (於開曼群島註冊成立的有限公司，股份代號：923) 董事會會議召開日期 綜合環保集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司 將於二零二五年十一月二十七日（星期四）舉行董事會會議，藉以（其中包括） 考慮及（如彼認為適當）批准發佈本公司及其附屬公司截至二零二五年九月三十 日止六個月期間之未經審核綜合中期業績公告以及考慮建議派發股息（如適用）。 承董事會命 綜合環保集團有限公司 主席 鄭志明 香港，二零二五年十一月十四日 Integrated Waste Solutions Group Holdings Limited 綜合環保集團有限公司 ...