致：香港交易及結算所有限公司 公司名稱: 大明國際控股有限公司 呈交日期: 2026年1月2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) | 01090 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,500,000,000 | HKD | | 0.1 HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,500,000,000 | HKD | | 0.1 HKD | | 150,000,000 | 本月底法定/註冊股本總額： HKD 150,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 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 ...

Core Insights - The company has turned a profit in H1 2025, achieving a net profit of 7.58 million yuan, compared to a loss in the previous period [1] - The company generated revenue of 21.198 billion yuan, a year-on-year decrease of 7.0%, while gross profit increased by 7.6% to 554 million yuan [1] Financial Performance - In H1 2025, the company reported revenue of 21.198 billion yuan, with 20.473 billion yuan from processing business and 0.725 billion yuan from manufacturing business [1] - The group recorded a net profit of approximately 22.8 million yuan, a year-on-year increase of about 141.6% [1] - The sales volume for stainless steel processing was approximately 996,000 tons, an increase of about 3.1%, while carbon steel processing sales volume was approximately 2.391 million tons, with a growth of 0.4% [1] Company Overview - The company is a leading player in metal processing in China, providing high-end manufacturing services, including steel material processing, component production, and finished product manufacturing [2] - It has established 11 processing service centers and a manufacturing base along the Yangtze River, with an overseas presence in Europe [2] - The company serves numerous leading enterprises across various industries, including automotive, home appliances, and petrochemicals [2] Strategic Outlook - The company is projected to achieve net profits of 40 million yuan, 127 million yuan, and 212 million yuan for the years 2025 to 2027, respectively [2] - A target price of 1.86 HKD is set for 2026, based on a 17x PE ratio, with an initial "buy" rating assigned [2]

Investment Rating - The report assigns a "Buy" rating for Da Ming International Holdings, with a target price of HKD 1.86 based on a 17x PE for 2026 [3]. Core Insights - Da Ming International Holdings has turned losses into profits in the first half of 2025, achieving a net profit attributable to shareholders of RMB 7.58 million, compared to a loss in the previous period [1]. - The company is recognized as a leading player in China's metal processing industry, providing comprehensive manufacturing services and holding a significant market share in large tank prefabrication services [4]. - Revenue for the first half of 2025 was RMB 21.198 billion, a decrease of 7.0% year-on-year, while gross profit increased by 7.6% to RMB 554 million [1]. Financial Performance and Forecast - The company is projected to achieve net profits of RMB 0.40 billion, RMB 1.27 billion, and RMB 2.12 billion for the years 2025, 2026, and 2027 respectively, indicating a strong recovery trajectory [3]. - The financial data indicates a forecasted revenue decline in 2026 and 2027, with expected revenues of RMB 43.566 billion and RMB 40.576 billion, respectively [4]. - The earnings per share (EPS) is expected to improve from RMB 0.03 in 2025 to RMB 0.17 in 2027, reflecting the company's recovery and growth potential [4]. Industry Position - Da Ming International is positioned as a leader in high-end manufacturing services in China, with a strong presence in various sectors including automotive, home appliances, and energy equipment [4]. - The company has established 11 processing service centers across China and has expanded its operations internationally, including a presence in Europe [4]. - The large tank prefabrication service segment holds approximately 50% of the market share for coastal LNG receiving stations in China, showcasing the company's competitive advantage [4].

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 FF301 致：香港交易及結算所有限公司 公司名稱: 大明國際控股有限公司 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) | 01090 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,500,000,000 | HKD | | 0.1 | HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,500,000,000 | HKD | | 0.1 | HKD | | 150,000,000 | 本月 ...

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10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: 大明國際控股有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 本月底法定/註冊股本總額： HKD 150,000,000 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01090 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,274,528,000 | | 0 | | 1,274,528,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | ...

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9月30日 狀態: 新提交 公司名稱: 大明國際控股有限公司 呈交日期: 2025年10月2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) | 01090 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,500,000,000 | HKD | | 0.1 HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,500,000,000 | HKD | | 0.1 HKD | | 150,000,000 | 本月底法定/註冊股本總額： HKD 150,000,000 第 1 頁 共 10 頁 ...

N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear Non-registered holders(Note 1) Da Ming International Holdings Limited (the "Company") – Notice of Publication of 2025 Interim Report (the "Current Corporate Communication") The Current Corporate Communication of the Company, in both English and Chinese versions, is available on the HKEXnews website at www.hkexnews.hk and the Company's website at www.dmssc.net. If you have any difficulty in receiving or gaining access to the Current Corporate Communication post ...

N O T I F I C AT I O N L E T T E R 通 知 信 函 19 September 2025 Dear Registered Shareholders, Da Ming International Holdings Limited (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communication") The Current Corporate Communication of the Company, in both English and Chinese versions, is available on the HKEXnews website at www.hkexnews.hk and the Company's website at www.dmssc.net. If you have any difficulty in receiving or gaining access to the Current Corporate Commun ...

Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 21,198,384 thousand, a decrease of 7.0% compared to RMB 22,800,874 thousand in 2024[5] - Gross profit increased by 7.6% to RMB 553,697 thousand from RMB 514,473 thousand year-on-year[5] - Total comprehensive income for the period rose significantly by 141.6% to RMB 22,767 thousand from RMB 9,424 thousand in the previous year[5] - The company recorded a net profit of approximately RMB 22.8 million for the six months ended June 30, 2025, an increase of about 141.6% compared to RMB 9.4 million for the same period in 2024[43] - The company's profit attributable to equity holders for the six months ended June 30, 2025, was RMB 7,579 thousand, an increase of 71.5% compared to RMB 4,436 thousand in 2024[105] - Basic earnings per share for the six months ended June 30, 2025, were RMB 0.59, compared to RMB 0.35 in 2024, reflecting a growth of 68.6%[105] - The company reported a net profit before tax of RMB 33,567 thousand for the six months ended June 30, 2025, compared to RMB 14,091 thousand in 2024[98] Sales and Production - Stainless steel sales volume increased by 3.1% to 995,500 tons, while carbon steel sales volume rose by 0.4% to 2,390,742 tons[9] - Stainless steel processing sales volume increased by approximately 3.1% from about 965,000 tons in the six months ended June 30, 2024, to about 996,000 tons in the same period of 2025[43] - Carbon steel processing sales volume rose by approximately 0.4%, from about 2,383,000 tons in the six months ended June 30, 2024, to about 2,391,000 tons in the same period of 2025[43] - Total sales for the six months ended June 30, 2025, were RMB 21,198,384 thousand, a decrease of 7.0% from RMB 22,800,874 thousand in the same period of 2024[97] - Sales from Mainland China amounted to RMB 20,630,565 thousand, down 7.2% from RMB 22,229,800 thousand in 2024[97] Assets and Liabilities - The company’s total assets reached approximately RMB 171.16 billion as of June 30, 2025, with equity attributable to shareholders amounting to approximately RMB 25.35 billion[47] - The company recorded approximately RMB 12,531,345 in total liabilities as of June 30, 2025, compared to RMB 8,277,711 as of December 31, 2024[68] - The debt-to-equity ratio as of June 30, 2025, was 79.60%, up from 71.42% as of December 31, 2024, indicating a higher leverage position[64] - The company’s total borrowings increased to RMB 4,340,753,000 for the six months ended June 30, 2025, compared to RMB 2,907,206,000 in the same period of 2024[73] - The total borrowings increased to RMB 11,652,987,000 as of June 30, 2025, compared to RMB 7,312,234,000 as of December 31, 2024, representing a growth of approximately 59%[94] Operational Efficiency - The company set a new lifting record at its Yangtze River terminal, successfully handling an 800-ton precision container, showcasing its operational efficiency[37] - The company plans to improve operational performance and cash flow by increasing sales volume and enhancing inventory management[78] - The company’s cash and cash equivalents increased by RMB 233,468,000 during the six months ended June 30, 2025, compared to an increase of RMB 51,205,000 in the same period of 2024[73] Costs and Expenses - Distribution costs slightly increased from approximately RMB 228,302 to RMB 233,427, primarily due to rising transportation costs[56] - Administrative expenses rose from approximately RMB 176,368 to RMB 184,604, mainly due to increases in stamp duty, property tax, and other additional taxes[57] - Financing costs decreased from approximately RMB 143,834 to RMB 137,151, attributed to reduced bank borrowing interest expenses and increased interest income[58] - The total financing costs for the six months ended June 30, 2025, were RMB 110,455 thousand, a decrease of 9.7% from RMB 122,299 thousand in 2024[101] - The cost of raw materials consumed was RMB 19,902,014 thousand, down 7.4% from RMB 21,515,055 thousand in 2024[100] Projects and Initiatives - The company has initiated a high-end chemical tanker project in collaboration with a shipyard in Jiangxi, marking a significant breakthrough in the international high-tech shipbuilding sector[16] - The project involves a 135-meter stainless steel special vessel, which is expected to enhance the company's competitiveness in the European high-end ship market[20] - A major acetic acid project in Hubei has successfully commenced commercial production, with the company providing over 1,600 tons of stainless steel products for this project[29] - The company is actively expanding its high-end oil tank prefabrication project in Tianjin, aimed at overseas markets, demonstrating its capabilities in precision metal processing[33] Human Resources - The group employed 6,608 employees as of June 30, 2025, a decrease from 7,011 employees in the previous year, with production and technical staff making up 74.1%[117] Governance and Compliance - The company did not recommend any interim dividend for the six months ended June 30, 2025, consistent with the previous year[107] - The company has adopted the "Standard Code" for securities trading by directors, confirming compliance until June 30, 2025[110] - The company’s audit committee reviewed the unaudited interim results for the six months ending June 30, 2025, ensuring compliance with applicable accounting standards[114]

Group 1 - The steel industry is experiencing an optimization of supply and demand due to "anti-involution" and "stabilizing growth" policies, benefiting related enterprises [3] - Daming International (01090.HK) reported a net profit of 22.8 million RMB for 2025, a significant increase of 141.6% year-on-year, with gross profit rising by 7.6% to 554 million RMB [3] - The company's processing business showed steady growth, with sales volume increases of 3.1% for stainless steel and 0.4% for carbon steel in the first half of 2025, and a 6.6% increase in carbon steel processing volume [3] Group 2 - Daming International has ten processing centers and one manufacturing base in China, providing customized metal material processing and high-end equipment manufacturing services to 70,000 companies across various industries [3] - The company has successfully entered the high-end shipbuilding market in Europe and has exported pressure storage tank products in the chemical sector [3][4] - The company’s new 40,000-ton deep-water terminal at the Jingjiang base significantly enhances its international logistics capabilities [4] Group 3 - Daming International aims to create a high-quality and efficient global supply chain through its "materials + processing center + equipment manufacturing" service model [4] - The company is expanding its overseas presence with a subsidiary in Germany and plans to further penetrate Southeast Asia and the Americas [4] - Daming International is enhancing its competitive edge through collaboration in the special materials sector and has signed agreements to empower smart manufacturing and energy equipment business [4] Group 4 - Overall, Daming International's profitability has significantly improved in the first half of 2025, with fruitful project outcomes and accelerated overseas expansion [5] - The company is expected to benefit from steady infrastructure investment, ongoing manufacturing development, and increased export growth [5] - Currently, the company's price-to-book ratio is below the industry average, indicating potential for valuation recovery [5]