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。 Huashi Group Holdings Limited 華視集團控股有限公司 （於開曼群島註冊成立的有限公司） 陳女士的履歷詳情載於本公司截至2024年12月31日 止 財 政 年 度 的 年 度 報 告 內。 於本公告日期，除本公告所披露者外，該等資料並無變動。經上述變動後，薪酬 委員會由三名成員組成，即彭禮堂先生（薪酬委員會主席）、何威風博士及陳女士。 茲提述本公司日期為2025年6月27日 之 公 告，內 容 有 關（其 中 包 括）未 符 合 薪 酬 委 員會職權範圍第1條之規定。於陳女士獲委任後，本公司已重新符合薪酬委員會 職權範圍第1條所規定的三名成員之最低人數要求。 董事會謹此熱烈歡迎陳女士加入薪酬委員會。 承董事會命 华视集团控股有限公司 董事長兼行政總裁 陳繼承 （股份代號：1111) 委任薪酬委員會成員 华 视 集 团 控 股 有 限 公 司（「本公司」）董 事（「董 事」）會（ ...

[Financial Summary](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) [Key Financial Data](index=1&type=section&id=1.1%20%E9%97%9C%E9%8D%B5%E8%B2%A1%E5%8B%99%E6%95%B8%E6%93%9A) Huashi Group Holdings Limited achieved significant growth in revenue, gross profit, and profit for the period, with net profit up 49.6% year-on-year for H1 2025 Six-Month Financial Summary Ended June 30 | Indicator | 2025 (RMB million) | 2024 (RMB million) | Year-on-year Change | |---|---|---|---| | Revenue | 155.4 | 123.2 | 26.1% | | Gross Profit | 108.0 | 75.0 | 44.0% | | Profit Before Income Tax | 65.0 | 44.1 | 47.4% | | Profit for the Period | 53.7 | 35.9 | 49.6% | | Adjusted Net Profit | 53.7 | 35.9 | 49.6% | [Interim Condensed Consolidated Financial Statements](index=2&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=2.1%20%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For H1 2025, the company's revenue grew 26.1% to RMB155,355 thousand, gross profit increased 44.0%, and profit for the period rose 49.6% to RMB53,720 thousand Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Revenue | 155,355 | 123,245 | | Cost of Services | (47,393) | (48,260) | | Gross Profit | 107,962 | 74,985 | | Profit for the Period | 53,720 | 35,900 | | Basic and Diluted Earnings Per Share (RMB cents) | 6.97 | 4.66 | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=2.2%20%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, total assets increased to RMB683,089 thousand, total liabilities to RMB286,125 thousand, and net assets to RMB396,964 thousand, with significant growth in trade receivables and payables Interim Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | |---|---|---| | Total Assets | 683,089 | 522,652 | | Total Liabilities | 286,125 | 179,408 | | Net Assets | 396,964 | 343,244 | | Trade Receivables | 343,897 | 203,236 | | Trade Payables | 91,730 | 29,581 | [Notes to the Interim Condensed Consolidated Financial Statements](index=5&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) [General Information](index=5&type=section&id=3.1%20%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99) Huashi Group Holdings Limited, incorporated in the Cayman Islands, primarily engages in investment holding, with subsidiaries providing branding, advertising, and marketing services in China - The Company is incorporated in the Cayman Islands as an exempted company with limited liability, primarily engaged in investment holding[7](index=7&type=chunk) - The Group is principally engaged in providing branding, advertising, and marketing services, as well as advertising placement services in China[7](index=7&type=chunk) [Basis of Preparation](index=5&type=section&id=3.2%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) The interim condensed consolidated financial statements are prepared under HKAS 34 and comply with HKEX Listing Rules, with no material revisions to management's judgments or estimates - The interim condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants[8](index=8&type=chunk) - There have been no material revisions to the nature and amounts of estimates reported in prior periods[8](index=8&type=chunk) [Accounting Policies](index=6&type=section&id=3.3%20%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) The Group applies the same accounting policies as in its 2024 annual financial statements, with new amendments effective in 2025, such as HKAS 21, having no significant impact - The Group has applied the same accounting policies and methods of computation as in its 2024 annual financial statements[10](index=10&type=chunk) - The new amendment "Lack of Exchangeability" (Amendments to HKAS 21) effective from January 1, 2025, has no significant impact on the interim condensed consolidated financial statements[11](index=11&type=chunk)[12](index=12&type=chunk)[14](index=14&type=chunk) [Revenue](index=7&type=section&id=3.4%20%E6%94%B6%E7%9B%8A) The Group's revenue, primarily from branding, advertising, and marketing services in China, totaled RMB155,355 thousand for H1 2025, with significant growth in advertising placement services - All the Group's revenue is generated from China, and no single customer's revenue accounts for over **10%** of total revenue[15](index=15&type=chunk)[16](index=16&type=chunk) [Sources of Revenue and Geographical Distribution](index=7&type=section&id=3.4.1%20%E6%94%B6%E7%9B%8A%E4%BE%86%E6%BA%90%E8%88%87%E5%9C%B0%E7%90%86%E5%88%86%E4%BD%88) The Group's revenue is entirely generated from branding, advertising, and marketing services in China, with no single customer accounting for over 10% of total revenue - The Group is principally engaged in providing branding, advertising, and marketing services, as well as advertising placement services in China[15](index=15&type=chunk) - All the Group's revenue for the six months ended June 30, 2025, and 2024, was generated from China[15](index=15&type=chunk) - No external customer revenue from providing branding, advertising, and marketing services and advertising placement services accounted for over **10%** of the Group's total revenue[16](index=16&type=chunk) [Revenue by Category Analysis](index=7&type=section&id=3.4.2%20%E6%94%B6%E7%9B%8A%E9%A1%9E%E5%88%A5%E5%88%86%E6%9E%90) For H1 2025, advertising placement services revenue surged by 135.6% year-on-year, while online media advertising services revenue experienced a slight decrease Revenue by Category | Service Category | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Branding Services | 52,579 | 50,004 | | Event Execution and Production Services | 31,037 | 27,345 | | Online Media Advertising Services | 17,790 | 19,942 | | Advertising Placement Services | 43,911 | 18,635 | | Rebates from Media Partners | 10,038 | 7,319 | | Total | 155,355 | 123,245 | [Timing of Revenue Recognition](index=8&type=section&id=3.4.3%20%E6%94%B6%E7%9B%8A%E7%A2%BA%E8%AA%8D%E6%99%82%E9%96%93) The Group recognizes revenue from services transferred over time and at a point in time, with both categories showing growth Timing of Revenue Recognition | Revenue Recognition Method | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Services Transferred Over Time | 80,407 | 77,349 | | Services Transferred at a Point in Time | 74,948 | 45,896 | [Other Income and Gains, Net](index=8&type=section&id=3.5%20%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A%E6%B7%A8%E9%A1%8D) Other income and gains, net, decreased to RMB364 thousand for H1 2025, primarily due to lower interest income, exchange gains, and no government grants Other Income and Gains, Net | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Interest Income | 37 | 355 | | Government Grants | – | 354 | | Net Exchange Gains | 228 | 487 | - No government grants were received for the six months ended June 30, 2025[21](index=21&type=chunk) [Finance Costs](index=9&type=section&id=3.6%20%E8%B2%A1%E5%8B%99%E6%88%90%E6%9C%AC) Finance costs decreased year-on-year to RMB2,310 thousand for H1 2025, mainly attributable to lower interest on borrowings Finance Costs | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Interest on Borrowings | 2,091 | 2,992 | | Interest on Lease Liabilities | 219 | 175 | [Profit Before Income Tax Expense](index=9&type=section&id=3.7%20%E9%99%A4%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF%E5%89%8D%E6%BA%A2%E5%88%A9) Several expense items, including depreciation of property, plant and equipment, net provision for expected credit losses on financial and contract assets, and staff costs, increased in the calculation of profit before income tax expense Items Deducted in Profit Before Income Tax Expense | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Depreciation of Property, Plant and Equipment | 6,517 | 2,654 | | Net Provision for Expected Credit Losses on Financial and Contract Assets | 7,635 | 3,115 | | Staff Costs (including Directors' Emoluments) | 10,515 | 8,692 | [Income Tax Expense](index=10&type=section&id=3.8%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax expense increased to RMB11,284 thousand for H1 2025, primarily due to the 25% corporate income tax rate for Chinese subsidiaries, with one high-tech enterprise enjoying a 15% preferential rate Income Tax Expense | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Current Tax | 12,478 | 7,143 | | Deferred Tax | (1,194) | 1,055 | - The tax rate for the Company's Chinese subsidiaries is **25%**[24](index=24&type=chunk) - Huashi Zhongguang International Media (Wuhan) Co., Ltd., as a high-tech enterprise, enjoys a preferential income tax rate of **15%**[24](index=24&type=chunk) [Dividends](index=10&type=section&id=3.9%20%E8%82%A1%E6%81%AF) The company neither paid nor declared any dividends for the six months ended June 30, 2025, and 2024 - The Company neither paid nor declared any dividends for the six months ended June 30, 2025, and 2024[26](index=26&type=chunk) [Earnings Per Share](index=11&type=section&id=3.10%20%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9) Profit for the period attributable to owners of the company was RMB53,720 thousand for H1 2025, with basic and diluted earnings per share of RMB6.97 cents, an increase from the prior period Earnings Per Share Calculation Data | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | |---|---|---| | Profit for the Period Attributable to Owners of the Company | 53,720 | 35,900 | | Weighted Average Number of Shares in Issue | 770,650,000 | 770,650,000 | | Basic Earnings Per Share (RMB cents) | 6.97 | 4.66 | - Diluted earnings per share is the same as basic earnings per share as there were no potential dilutive ordinary shares outstanding during the reporting period[27](index=27&type=chunk) [Trade Receivables](index=11&type=section&id=3.11%20%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) As of June 30, 2025, total trade receivables increased to RMB343,897 thousand, with the majority being current, indicating an expanded accounts receivable balance Trade Receivables | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | |---|---|---| | Gross Trade Receivables | 366,013 | 217,717 | | Less: Provision for Impairment Losses on Trade Receivables | (22,116) | (14,481) | | Net Trade Receivables | 343,897 | 203,236 | Trade Receivables Aging Analysis (Due Date) | Aging Analysis (Due Date) | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | |---|---|---| | Not Yet Due | 313,622 | 200,152 | Trade Receivables Aging Analysis (Invoice Date) | Aging Analysis (Invoice Date) | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | |---|---|---| | Within 90 Days | 313,622 | 200,152 | [Trade Payables](index=12&type=section&id=3.12%20%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85) As of June 30, 2025, total trade payables significantly increased to RMB91,730 thousand, with the largest portion due within 30 days Trade Payables Aging Analysis | Aging | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | |---|---|---| | Within 30 Days | 82,777 | 20,485 | | Total | 91,730 | 29,581 | [Borrowings](index=13&type=section&id=3.13%20%E5%80%9F%E6%AC%BE) As of June 30, 2025, total bank loans increased to RMB132,930 thousand, with the weighted average effective annual interest rate decreasing to 3.1%, and all loans guaranteed by the controlling shareholder and subsidiaries Borrowings | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | |---|---|---| | Bank Loans – Secured | 132,930 | 107,920 | | Carrying Amount Repayable: Within 1 Year | 124,950 | 93,920 | - As of June 30, 2025, the weighted average effective annual interest rate for borrowings was **3.1%** (December 31, 2024: **4.5%**)[31](index=31&type=chunk) - All bank loans are guaranteed by the Group's controlling shareholder and subsidiaries[31](index=31&type=chunk) [Share Capital](index=14&type=section&id=3.14%20%E8%82%A1%E6%9C%AC) As of June 30, 2025, the company's issued and fully paid share capital comprised 770,650,000 ordinary shares of USD0.05 each, totaling RMB276,515 thousand, with no changes during the period Share Capital | Item | Number | Amount (USD thousand) | Amount (RMB thousand) | |---|---|---|---| | Issued and Fully Paid Ordinary Shares | 770,650,000 | 38,533 | 276,515 | [Events After the Reporting Period](index=14&type=section&id=3.15%20%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%AE%8C%E7%B5%90%E5%BE%8C%E4%BA%8B%E4%BB%B6) The Group had no significant disclosable events after the end of the reporting period - The Group had no significant disclosable events after the end of the reporting period[33](index=33&type=chunk) [Management Discussion and Analysis](index=15&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) [Business Review](index=15&type=section&id=4.1%20%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) As a branding, advertising, and marketing service provider in Hubei, China, the Group maintained stable operations amid a complex global economy, deepening tech innovation, accelerating AI business incubation, and expanding through strategic partnerships, with total revenue growing 26.1% to RMB155.4 million - The Group is a branding, advertising, and marketing service provider located in Hubei Province, China, offering a full value chain of services from market research to project execution[34](index=34&type=chunk) - The global economy remains under pressure, while China's GDP grew by **5.3%** year-on-year and total retail sales of consumer goods increased by **5.0%** year-on-year, maintaining a stable and positive development trend in the domestic economy[35](index=35&type=chunk) - The Group maintained stable overall operations, continuously strengthening its professional service capabilities, consolidating business partnerships, and successfully hosting the "Caidian District 2025 Cultural Tourism Consumption Season Launch Ceremony"[36](index=36&type=chunk) - The Group is accelerating AI business incubation, with its first AI digital product, "Huashi • Flash BAO" digital human, having commenced internal testing, featuring IP image customization, AIGC video generation, and digital human interaction capabilities[37](index=37&type=chunk) - During the reporting period, the Group's profitability steadily improved, recording total revenue of **RMB155.4 million**, a **26.1%** year-on-year increase[38](index=38&type=chunk)[49](index=49&type=chunk) [Business Summary](index=15&type=section&id=4.1.1%20%E6%A5%AD%E5%8B%99%E6%91%98%E8%A6%81) Amid a complex global economy, Huashi Group achieved stable operations and enhanced profitability through professional services and AI innovation, launching its first AI digital product and signing strategic cooperation agreements - The Group is a branding, advertising, and marketing service provider located in Hubei Province, China, offering a full value chain of services from market research to project execution[34](index=34&type=chunk) - The global economy remains under pressure, while China's GDP grew by **5.3%** year-on-year and total retail sales of consumer goods increased by **5.0%** year-on-year[35](index=35&type=chunk) - The Group continuously strengthened its professional service capabilities, consolidated business partnerships, and successfully hosted the "Caidian District 2025 Cultural Tourism Consumption Season Launch Ceremony," achieving over **two million exposures**[36](index=36&type=chunk) - The Group is accelerating AI business incubation, with its first AI digital product, "Huashi • Flash BAO," having commenced internal testing, featuring IP image customization, AIGC video generation, and digital human interaction capabilities[37](index=37&type=chunk) - Strategic cooperation agreements were signed with a leading steel structure enterprise in China and a local government in Hubei Province to explore business models such as "new infrastructure + AI media" and digital economy industry incubation[38](index=38&type=chunk) - Total revenue for the reporting period was **RMB155.4 million**, with total contract value signed with customers amounting to **RMB715.1 million**, of which **96.2%** of services have been provided[38](index=38&type=chunk) [Branding Services](index=16&type=section&id=4.1.2%20%E5%93%81%E7%89%8C%E6%9C%8D%E5%8B%99) Branding services revenue grew 5.1% to RMB52.6 million, leveraging AI to boost creative efficiency and exploring 'government+enterprise+scenic area' models, successfully promoting Macheng Guifeng Mountain Scenic Area to 5A status - Revenue from branding services was **RMB52.6 million**, representing a year-on-year increase of **5.1%**[39](index=39&type=chunk) - AI technology applications are used to guide innovation in branding services, focusing on improving creative planning and marketing copywriting efficiency[40](index=40&type=chunk) - The Group explored a "government + enterprise + scenic area" cooperation model, successfully promoting Macheng Guifeng Mountain Scenic Area to be selected as a National 5A-level tourist attraction[40](index=40&type=chunk) [Online Media Advertising Services](index=17&type=section&id=4.1.3%20%E7%B7%9A%E4%B8%8A%E5%AA%92%E9%AB%94%E5%BB%A3%E5%91%8A%E6%9C%8D%E5%8B%99) Online media advertising services revenue decreased 10.8% to RMB17.8 million, but the Group continues to optimize advertising strategies with digitalization and AI, actively exploring AI digital human technology applications - Revenue from online media advertising services was **RMB17.8 million**, representing a year-on-year decrease of **10.8%**[41](index=41&type=chunk) - Advertising strategies and digital systems are optimized to enhance precise targeting, data management and analysis, and automated monitoring and evaluation capabilities[42](index=42&type=chunk) - The Group continues to explore AI digital human technology and its application prospects, gradually initiating functional and business adaptability tests[42](index=42&type=chunk) [Event Execution and Production Services](index=18&type=section&id=4.1.4%20%E6%B4%BB%E5%8B%95%E5%9F%B7%E8%A1%8C%E5%8F%8A%E8%A3%BD%E4%BD%9C%E6%9C%8D%E5%8B%99) Event execution and production services revenue grew 13.5% to RMB31.0 million, with the Group integrating traditional and digital interactive marketing, leveraging media resources and customized services to successfully host the 'Caidian District 2025 Cultural Tourism Consumption Season Launch Ceremony' - Revenue from event execution and production services was **RMB31.0 million**, representing a year-on-year increase of **13.5%**[43](index=43&type=chunk) - The Group integrates the advantages of traditional marketing and digital interactive marketing, utilizing a comprehensive media resource matrix to precisely reach potential users[44](index=44&type=chunk) - The "Caidian District 2025 Cultural Tourism Consumption Season Launch Ceremony" was successfully hosted, enhancing the fun of sightseeing through intelligent interactive devices such as AI check-in points[44](index=44&type=chunk) [Advertising Placement Services](index=18&type=section&id=4.1.5%20%E5%BB%A3%E5%91%8A%E6%8A%95%E6%94%BE%E6%9C%8D%E5%8B%99) Advertising placement services revenue surged 135.6% to RMB43.9 million, as the Group enhanced advertising and media operational efficiency through diversified placement strategies and expanded partner networks - Revenue from advertising placement services was **RMB43.9 million**, representing a year-on-year increase of **135.6%**[45](index=45&type=chunk) - Customers adopt diversified placement strategies targeting different audience characteristics through the platform, improving media operational efficiency and return on investment[46](index=46&type=chunk) - The Group actively expanded its partner list, continuously integrating media resources with different characteristics to meet personalized marketing demands and promote sustainable business development[46](index=46&type=chunk) [Business Outlook](index=19&type=section&id=4.2%20%E6%A5%AD%E5%8B%99%E5%B1%95%E6%9C%9B) The Group will focus on strengthening AI R&D, enhancing competitive advantages, expanding business scope, improving budget control for cost reduction and efficiency, and building a professional talent pipeline to solidify market position and drive revenue growth - Strengthen AI technology research and development and application, utilizing AI technology to reshape the media business matrix and explore more commercial scenarios that can be deeply empowered by AI[48](index=48&type=chunk) - Enhance industry competitive advantages, improving intelligent content creation, precise advertising placement, and full-scenario event execution efficiency to attract more strategic cooperation opportunities[48](index=48&type=chunk) - Expand business layout, consolidating advantages in the Hubei region while accelerating business expansion in economically active areas such as the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, and exploring overseas business opportunities[48](index=48&type=chunk) - Strengthen budget control, reduce costs, and enhance efficiency by focusing on core businesses, detailing cost items, optimizing resource allocation, cutting unnecessary expenses, and gradually promoting new technologies across all business processes to reduce labor costs[51](index=51&type=chunk) - Build a professional talent pipeline, recruiting technical and marketing talents, improving training systems and incentive mechanisms to provide talent support for business development[51](index=51&type=chunk) [Financial Review](index=20&type=section&id=4.3%20%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) The Group's total revenue grew 26.1% to RMB155.4 million, with significant increases in gross profit and margin, and profit for the period up 49.6%; cash and cash equivalents decreased due to software platform development, capital expenditure surged, and the gearing ratio slightly rose - Total revenue increased by **26.1%** from **RMB123.2 million** for the six months ended June 30, 2024, to **RMB155.4 million** for the reporting period[49](index=49&type=chunk) - Gross profit increased from **RMB75.0 million** to **RMB108.0 million**, and gross profit margin increased from **60.8%** to **69.5%**[55](index=55&type=chunk) - Profit for the period was **RMB53.7 million**, with a net profit margin of **34.6%**, both significantly higher than the **RMB35.9 million** and **29.1%** in the same period last year[61](index=61&type=chunk) - Cash and cash equivalents decreased by **RMB19.7 million** to **RMB80.7 million**, primarily due to increased expenditure on software platform development[59](index=59&type=chunk) - Capital expenditure significantly increased from **RMB5.6 million** to **RMB44.5 million**, mainly due to increased expenditure on software platform development[67](index=67&type=chunk) - The gearing ratio increased from **34.3%** as of December 31, 2024, to **35.5%**, primarily due to an increase in the Group's total bank borrowings during the reporting period[63](index=63&type=chunk) [Total Revenue](index=21&type=section&id=4.3.1%20%E7%B8%BD%E6%94%B6%E7%9B%8A) Total revenue increased 26.1% to RMB155.4 million, driven by business expansion and new client relationships, particularly significant growth in advertising placement services - Total revenue increased by **26.1%** from **RMB123.2 million** for the six months ended June 30, 2024, to **RMB155.4 million** for the reporting period[49](index=49&type=chunk) - Revenue from "branding services," "event execution and production services," "advertising placement services," and "rebates from media partners" all showed significant year-on-year growth, stemming from the Group's active business expansion and establishment of solid cooperation relationships with more new customers[52](index=52&type=chunk) [Revenue Breakdown by Service Type](index=20&type=section&id=4.3.2%20%E6%8C%89%E6%9C%8D%E5%8B%99%E9%A1%9E%E5%9E%8B%E5%8A%83%E5%88%86%E7%9A%84%E6%94%B6%E7%9B%8A%E6%98%8E%E7%B4%B0) Advertising placement services and rebates from media partners saw significant revenue growth, accounting for 28.3% and 6.5% of total revenue respectively, while online media advertising services revenue slightly declined Revenue Breakdown by Service Type | Service Type | 2025 (RMB thousand) | Percentage of Total Revenue (%) | 2024 (RMB thousand) | Percentage of Total Revenue (%) | |---|---|---|---|---| | Branding Services | 52,579 | 33.8 | 50,004 | 40.6 | | Advertising Placement Services | 43,911 | 28.3 | 18,635 | 15.1 | | Rebates from Media Partners | 10,038 | 6.5 | 7,319 | 5.9 | | Online Media Advertising Services | 17,790 | 11.4 | 19,942 | 16.2 | - Revenue from "online media advertising services" slightly decreased year-on-year, mainly due to an increased proportion of online media advertising services provided to related advertising agencies, with direct costs for this business deducted from total revenue on a net basis[52](index=52&type=chunk) [Cost of Services](index=21&type=section&id=4.3.3%20%E6%9C%8D%E5%8B%99%E6%88%90%E6%9C%AC) Cost of services decreased to RMB47.4 million, primarily because direct costs for online media advertising services provided to related agencies were deducted from total revenue on a net basis - Cost of services decreased from **RMB48.3 million** for the six months ended June 30, 2024, to **RMB47.4 million** for the reporting period[53](index=53&type=chunk) - The main reason is that direct costs for online media advertising services provided to related advertising agencies in the online media advertising services business are deducted from total revenue, with revenue recognized on a net basis[53](index=53&type=chunk)[54](index=54&type=chunk) [Gross Profit and Gross Profit Margin](index=22&type=section&id=4.3.4%20%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit increased from RMB75.0 million to RMB108.0 million, with gross profit margin rising from 60.8% to 69.5%, driven by significant revenue growth and net recognition for advertising placement, media partner rebates, and online media advertising services - Gross profit increased from **RMB75.0 million** for the six months ended June 30, 2024, to **RMB108.0 million** for the reporting period[55](index=55&type=chunk) - Gross profit margin increased from **60.8%** for the six months ended June 30, 2024, to **69.5%** for the reporting period[55](index=55&type=chunk) - This is mainly due to significant revenue growth and net recognition of revenue for advertising placement services, rebates from media partners, and online media advertising services provided to related advertising agencies[55](index=55&type=chunk) [Other Income and Gains, Net](index=22&type=section&id=4.3.5%20%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A%E6%B7%A8%E9%A1%8D) Other income and gains, net, decreased from RMB1.2 million to RMB0.4 million, mainly due to lower interest income, exchange gains, and no government grants during the reporting period - Other income and gains, net, decreased from **RMB1.2 million** for the six months ended June 30, 2024, to **RMB0.4 million** for the reporting period[56](index=56&type=chunk) - This was mainly due to lower interest income and exchange gains, as well as no government grants during the reporting period[56](index=56&type=chunk) [Selling and Marketing Expenses](index=22&type=section&id=4.3.6%20%E9%8A%B7%E5%94%AE%E5%8F%8A%E7%87%9F%E9%8A%B7%E9%96%8B%E6%94%AF) Selling and marketing expenses increased from RMB5.9 million to RMB9.2 million, primarily due to increased headcount in sales and media operations teams from business expansion, and higher depreciation of office equipment - Selling and marketing expenses increased from **RMB5.9 million** for the six months ended June 30, 2024, to **RMB9.2 million** for the reporting period[57](index=57&type=chunk) - This was mainly due to an increase in the number of employees in the sales team and media operations team as a result of business expansion, and an increase in depreciation expenses for office equipment[57](index=57&type=chunk) [Administrative Expenses](index=23&type=section&id=4.3.7%20%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) Administrative expenses increased from RMB19.9 million to RMB24.2 million, mainly due to increased headcount in administrative and R&D teams from business expansion - Administrative expenses increased from **RMB19.9 million** for the six months ended June 30, 2024, to **RMB24.2 million** for the reporting period[58](index=58&type=chunk) - This was mainly due to an increase in salaries and daily expense reimbursements resulting from an increase in the number of employees in the administrative management team and R&D team due to business expansion[58](index=58&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=4.3.8%20%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E6%BA%90) As of June 30, 2025, cash and cash equivalents decreased to RMB80.7 million, primarily due to increased software platform development expenditure, with working capital mainly sourced from operating cash flow and borrowings - Cash and cash equivalents amounted to **RMB80.7 million**, a decrease of **RMB19.7 million** from **RMB100.4 million** as of December 31, 2024[59](index=59&type=chunk) - This was mainly due to increased expenditure on software platform development[59](index=59&type=chunk) - The Group primarily funds its operating needs through cash flows from operating activities and borrowings[59](index=59&type=chunk) [Income Tax Expense](index=23&type=section&id=4.3.9%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) China corporate income tax expense increased to RMB11.3 million, mainly due to a smaller proportion of business from subsidiaries enjoying a 15% preferential income tax rate - China corporate income tax expense increased from **RMB8.2 million** for the six months ended June 30, 2024, to **RMB11.3 million** for the reporting period[60](index=60&type=chunk) - This was mainly due to a smaller proportion of business occurring in Group subsidiaries with a preferential income tax rate of **15%** during the reporting period compared to the six months ended June 30, 2024[60](index=60&type=chunk) [Profit for the Period](index=23&type=section&id=4.3.10%20%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%85%A7%E6%BA%A2%E5%88%A9) Profit for the period was RMB53.7 million, a 49.6% year-on-year increase, with net profit margin rising to 34.6% Profit for the Period and Net Profit Margin | Indicator | 2025 (RMB million) | 2024 (RMB million) | |---|---|---| | Profit | 53.7 | 35.9 | | Net Profit Margin | 34.6% | 29.1% | [Capital Structure](index=23&type=section&id=4.3.11%20%E8%B3%87%E6%9C%AC%E6%9E%B6%E6%A7%8B) As of June 30, 2025, total borrowings were RMB132.9 million, and the gearing ratio increased to 35.5%, primarily due to higher total bank borrowings - The Company's authorized share capital is **USD50,000,000**, and its issued share capital is **USD38,532,500**, with no changes during the reporting period[62](index=62&type=chunk) - The Group's total borrowings amounted to **RMB132.9 million**, of which **94.0%** were classified as current liabilities[63](index=63&type=chunk) - The gearing ratio increased from **34.3%** as of December 31, 2024, to **35.5%**, primarily due to an increase in the Group's total bank borrowings during the reporting period[63](index=63&type=chunk) [Pledge of Assets](index=24&type=section&id=4.3.12%20%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) As of June 30, 2025, the Group had no pledged assets - As of June 30, 2025, the Group had no pledged assets[64](index=64&type=chunk) [Foreign Exchange Risk Management](index=24&type=section&id=4.3.13%20%E5%A4%96%E5%8C%AF%E9%A2%A8%E9%9A%AA%E7%AE%A1%E7%90%86) The Group's operations are primarily in China, with most transactions denominated and settled in RMB, and no financial instruments were used for hedging during the reporting period - The Group's business is primarily operated in China, and most transactions are denominated and settled in RMB[65](index=65&type=chunk) - During the reporting period, the Group did not use any financial instruments for hedging purposes[65](index=65&type=chunk) [Employees](index=24&type=section&id=4.3.14%20%E5%83%B1%E5%93%A1) As of June 30, 2025, the Group had 242 full-time employees, with total staff remuneration expenses of RMB10.5 million, a 20.7% year-on-year increase - As of June 30, 2025, the Group had **242** full-time employees, all located in China[66](index=66&type=chunk) - Total staff remuneration expenses (including directors' emoluments) for the reporting period were **RMB10.5 million** (six months ended June 30, 2024: **RMB8.7 million**)[66](index=66&type=chunk) [Capital Expenditure](index=25&type=section&id=4.3.15%20%E8%B3%87%E6%9C%AC%E9%96%8B%E6%94%AF) Capital expenditure significantly increased to RMB44.5 million, primarily due to higher software platform development expenditure, funded by internal resources and bank borrowings - Capital expenditure increased from **RMB5.6 million** for the six months ended June 30, 2024, to **RMB44.5 million** for the reporting period[67](index=67&type=chunk) - This was mainly due to increased expenditure on software platform development[67](index=67&type=chunk) - The Group primarily funds its capital expenditure through internal resources and bank borrowings[67](index=67&type=chunk) [Contingent Liabilities](index=25&type=section&id=4.3.16%20%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[68](index=68&type=chunk) [Material Acquisitions, Disposals and Investments](index=25&type=section&id=4.3.17%20%E9%87%8D%E5%A4%A7%E6%94%B6%E8%B3%BC%E3%80%81%E5%87%BA%E5%94%AE%E5%8F%8A%E6%8A%95%E8%B3%87) During the reporting period, the Group made no material acquisitions or disposals of subsidiaries, associates, or joint ventures, nor did it hold any significant investments - During the reporting period, the Group made no material acquisitions or disposals of subsidiaries, associates, or joint ventures, and held no material investments[69](index=69&type=chunk) [Use of Net Proceeds from Global Offering](index=25&type=section&id=4.3.18%20%E5%85%A8%E7%90%83%E7%99%BC%E5%94%AE%E6%B7%A8%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%9A%84%E7%94%A8%E9%80%94) The company's global offering in November 2023 of 125,000,000 shares generated net proceeds of approximately HKD72.1 million, with detailed use to be published in due course - The Company was listed on the Main Board of the Stock Exchange of Hong Kong Limited on November 10, 2023, with a global offering of **125,000,000 shares** at an issue price of **HKD1.04** per share[70](index=70&type=chunk) - The Group received net proceeds from the global offering of approximately **HKD72.1 million**[70](index=70&type=chunk) [Future Plans for Material Investments or Capital Assets](index=25&type=section&id=4.3.19%20%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E6%88%96%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2%E7%9A%84%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8A%83) As of the announcement date, the Group has no detailed future plans for material investments or capital assets - As of the date of this announcement, the Group has no detailed future plans for any material investments or capital assets[71](index=71&type=chunk) [Events After Reporting Period](index=25&type=section&id=4.3.20%20%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) No significant events occurred from the end of the reporting period up to the date of this announcement - No significant events occurred from the end of the reporting period up to the date of this announcement[72](index=72&type=chunk) [Other Information](index=26&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) [Interim Dividend](index=26&type=section&id=5.1%20%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board recommends not declaring any interim dividend for the reporting period - The Board recommends not declaring any interim dividend for the reporting period[73](index=73&type=chunk) [Corporate Governance Practices](index=26&type=section&id=5.2%20%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%B8%B8%E8%A6%8F) The Group is committed to high corporate governance standards, adopting the Corporate Governance Code in Appendix C1 of the Listing Rules, and complied with all applicable code provisions during the reporting period, except for deviations regarding directors' legal liability insurance and the combined roles of Chairman and CEO - The Company has adopted the Corporate Governance Code as set out in Part 2 of Appendix C1 to the Listing Rules of the Stock Exchange of Hong Kong Limited[74](index=74&type=chunk) - During the reporting period, the Company complied with all applicable code provisions of the Corporate Governance Code, save for deviations from code provision C.1.8 (directors' legal liability insurance) and C.2.1 (separation of roles of Chairman and Chief Executive Officer)[74](index=74&type=chunk)[75](index=75&type=chunk) - The Board believes that Mr. Chen Jicheng (Chairman and Chief Executive Officer) can effectively undertake both management and business development roles, which is in the best interests of the Group[76](index=76&type=chunk) [Compliance with the Model Code for Securities Transactions by Directors](index=27&type=section&id=5.3%20%E9%81%B5%E5%AE%88%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E4%B9%8B%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) The Group adopted the Model Code for Securities Transactions by Directors in Appendix C3 of the Listing Rules, and all directors confirmed compliance during the reporting period - The Group has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules[78](index=78&type=chunk) - Following specific enquiries made to all Directors, each Director has confirmed that they have complied with the required standards set out in the Model Code throughout the reporting period[78](index=78&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=27&type=section&id=5.4%20%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B9%8B%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) During the reporting period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities, and the company held no treasury shares - During the reporting period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[79](index=79&type=chunk) - As of June 30, 2025, the Company did not hold any treasury shares[79](index=79&type=chunk) [Audit Committee](index=27&type=section&id=5.5%20%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee, comprising three independent non-executive directors, reviewed the Group's unaudited condensed consolidated financial statements for the reporting period, confirming compliance with applicable accounting standards and Listing Rules - The Audit Committee comprises three independent non-executive Directors: Dr. He Weifeng (Chairman), Mr. Peng Litang, and Mr. Li Guangdou[80](index=80&type=chunk) - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial statements for the reporting period and is satisfied that they have been prepared in accordance with applicable accounting standards and fairly reflect the Group's financial position and performance[81](index=81&type=chunk) [Publication of Interim Results Announcement and 2025 Interim Report](index=28&type=section&id=5.6%20%E5%88%8A%E7%99%BC%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%85%AC%E5%91%8A%E5%8F%8A%E4%BA%8C%E9%9B%B6%E4%BA%8C%E4%BA%94%E5%B9%B4%E4%B8%AD%E6%9C%9F%E5%A0%B1%E5%91%8A) This interim results announcement is available on the HKEX and company websites, and the 2025 interim report, containing all information required by the Listing Rules, will be dispatched to shareholders and posted online in due course - This interim results announcement is published on the website of the Stock Exchange (www.hkexnews.hk) and the Company's website (www.youmeimu.com)[82](index=82&type=chunk) - The Company's interim report for the six months ended June 30, 2025, containing all information required by the Listing Rules, will be dispatched to shareholders and published on the aforementioned websites in due course[82](index=82&type=chunk)

Core Points - China Post will issue a set of commemorative stamps titled "The 80th Anniversary of the Victory of the Chinese People's Anti-Japanese War and the World Anti-Fascist War" consisting of 13 stamps and 1 miniature sheet, with a total face value of 20.8 yuan [1] - The planned issuance quantity is 6 million sets of stamps and 5 million miniature sheets [1] Summary by Sections - The commemorative stamp set focuses on reflecting the history of the Anti-Japanese War, highlighting significant battles and using anti-war themed sculptures as the main artistic expression, with historical photographs as the background [5] - The 13 stamps represent themes such as "Remembering History, Honoring Martyrs," covering events like the outbreak of the national anti-Japanese war, the Nanjing Massacre, and the victory in the war [5] - The miniature sheet features the logo of the 80th anniversary commemorative activities, emphasizing the themes of "Cherishing Peace, Creating the Future" [5] - The stamps will be available for purchase at designated postal outlets, the Philately Online Hall, China Post mobile app, WeChat mall, and other platforms for a period of 6 months [5]

Core Viewpoint - Huashi Group Holdings (01111) experienced a significant stock price increase of over 41% following the announcement of a profit alert, indicating strong growth expectations for the upcoming period [1] Financial Performance - As of August 27, the stock closed at 0.375 HKD, reflecting a 41.51% increase with a trading volume of 15.8335 million HKD [1] - The company anticipates a net profit increase of approximately 45% to 55% year-on-year for the first half of 2025 [1] Business Drivers - The expected growth is primarily driven by the company's active expansion in AI digital human and internet marketing businesses [1] - There is a significant increase in operating revenue compared to the same period last year [1]

Core Viewpoint - Huashi Group Holdings (01111) experienced a significant stock price increase of over 41% following the announcement of a profit alert, indicating strong market confidence in the company's future performance driven by its expansion in AI digital human and internet marketing businesses [1]. Financial Performance - As of August 27, the stock closed at 0.375 HKD, reflecting a 41.51% increase with a trading volume of 46.23 million shares and a turnover of 15.83 million HKD [1]. - The company anticipates a net profit increase of approximately 45% to 55% year-on-year for the first half of 2025, highlighting substantial growth in revenue compared to the same period last year [1].

格隆汇8月26日丨华视集团控股(01111.HK)公告，預期集团截至2025年6月30日止6个月溢利净额较其于 截至2024年6月30日止6个月溢利净额录得增长约45%到55%。根据目前可得资料，董事会认为，集团溢 利净额增加主要受其积极拓展业务所推动，营业收入与去年同期相比有较大增长。 ...

Group 1 - The core viewpoint of the article is that Huashi Group Holdings (01111) expects a significant increase in net profit for the first half of 2025, projected to grow by approximately 45% to 55% year-on-year, driven by active business expansion [1] - The company's operating revenue is anticipated to show substantial growth compared to the same period last year [1]

Group 1 - The core viewpoint of the article is that Huashi Group Holdings (01111) expects a significant increase in net profit for the first half of 2025, projected to grow by approximately 45% to 55% year-on-year, driven by its active business expansion [1] Group 2 - The company's revenue is anticipated to show substantial growth compared to the same period last year, indicating a positive business outlook [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 或任何部分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。 Huashi Group Holdings Limited 華視集團控股有限公司 （於開曼群島註冊成立的有限公司） 由於本集團仍在審定截至2025年6月30日止六個月之中期業績，本公告所載資料 僅基於對本集團截至2025年6月30日止六個月之未經審核綜合管理賬目的初步 審 閱 以 及 董 事 會 目 前 可 獲 得 的 其 他 資 料，其 未 經 本 公 司 核 數 師 審 核 或 審 閱，亦 未 經 董 事 會 審 核 委 員 會 審 閱。因 此，本 集 團 截 至2025年6月30日止六個月的實際 業 績 可 能 與 本 公 告 所 載 資 料 存 在 差 異。有 關 本 集 團 財 務 業 績 及 表 現 的 進 一 步 詳 情將預計於2025年8月29日刊發之本公司截至2025年6月30日止六個月之中期業 績公告內披露。 – 1 – 股東及潛在投資者於買賣本公司股份時務請審慎行事。 承董事會命 ...

Core Viewpoint - The company, Huashi Group Holdings (01111.HK), has announced a board meeting scheduled for August 29, 2025, to consider and approve its interim results for the six months ending June 30, 2025, and to discuss the potential declaration of an interim dividend, among other matters [1]. Summary by Relevant Categories - **Company Announcement** - Huashi Group Holdings will hold a board meeting on August 29, 2025, to review its interim performance [1]. - The meeting will also address the potential declaration of an interim dividend, if applicable [1]. - **Financial Reporting** - The board will consider the group's interim results for the six months ending June 30, 2025 [1]. - **Other Matters** - Additional unspecified matters will be discussed during the board meeting [1].