Group 1 - The company reported a revenue of 67.316 million RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 18.17% [1] - The loss attributable to shareholders was 46.063 million RMB, which widened by 8.65% compared to the previous year [1] - The basic loss per share was 1.34 cents [1]

Core Viewpoint - Huicheng International Holdings (01146) reported a significant decline in revenue and an increase in shareholder losses for the six months ending June 30, 2025, indicating financial challenges ahead [1] Financial Performance - The company recorded revenue of 67.316 million RMB, representing a year-on-year decrease of 18.17% [1] - Shareholder losses amounted to 46.063 million RMB, which is an increase of 8.65% compared to the previous year [1] - The basic loss per share was reported at 1.34 cents [1]

Core Viewpoint - 汇成国际控股 reported a decrease in revenue for the six months ending June 30, 2025, with a decline of RMB 15.0 million from RMB 82.3 million in the same period last year to RMB 67.3 million [1] Financial Performance - The company's revenue decreased from RMB 82.3 million to RMB 67.3 million, representing a decline of approximately 18.2% [1] - The loss attributable to the parent company increased from RMB 42.4 million to RMB 46.1 million, an increase of RMB 3.7 million [1]

Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 67.3 million, a decrease of 18.2% compared to RMB 82.3 million in the same period of 2024[2] - Gross profit for the same period was RMB 35.8 million, down 28.0% from RMB 49.7 million year-on-year[2] - Operating loss increased by 5.1% to RMB 51.3 million, compared to RMB 48.8 million in the previous year[2] - The gross profit margin decreased by 7.2 percentage points to 53.2% from 60.4%[2] - Basic loss per share was RMB (1.34), an increase of 3.9% from RMB (1.29) in the prior year[3] - The company reported a net loss of RMB 46.1 million for the period, compared to RMB 42.7 million in the same period last year[4] - The group reported a pre-tax loss of RMB 46,063,000 for the six months ended June 30, 2025, compared to a loss of RMB 42,396,000 for the same period in 2024[32][33] - The company reported a pre-tax loss of RMB 46.2 million in 2025, compared to a pre-tax loss of RMB 42.7 million in 2024[58] - The net loss attributable to equity holders increased from RMB 42.4 million in 2024 to RMB 46.1 million in 2025, an increase of approximately 8.7%[59] Assets and Liabilities - Total assets less current liabilities amounted to RMB 955.4 million, a decrease from RMB 982.0 million as of December 31, 2024[5] - Total assets as of June 30, 2025, amounted to RMB 1,149,019,000, reflecting a decrease from RMB 1,290,705,000 as of June 30, 2024[18] - The company’s total liabilities as of June 30, 2025, were RMB 202,477,000, a decrease from RMB 259,608,000 as of June 30, 2024[18] - Non-current assets decreased to RMB 388.5 million from RMB 433.6 million as of December 31, 2024[5] - Current assets net value increased from RMB 548.4 million at the end of 2024 to RMB 566.9 million by mid-2025[63] Cash Flow - Cash and cash equivalents increased to RMB 176.3 million from RMB 100.8 million at the end of 2024[5] - Cash and cash equivalents rose from RMB 333.4 million at the end of 2024 to RMB 385.7 million by mid-2025[64] - Net cash flow from operating activities decreased from RMB 1.2 million in the six months ended June 30, 2024, to a cash outflow of RMB 3.0 million in the current period, primarily due to changes in working capital[66] - Net cash flow from investing activities amounted to RMB 74.8 million, driven by proceeds from the sale of equity investments totaling RMB 45.3 million and withdrawals from short-term deposits of RMB 23.4 million[67] - Net cash flow used in financing activities was RMB 0.9 million, mainly due to principal payments on lease liabilities of RMB 2.8 million[68] Revenue Breakdown - Revenue from customer contracts for the six months ended June 30, 2025, was RMB 67,316,000, a decrease of 18.2% compared to RMB 82,264,000 for the same period in 2024[22][23] - Revenue from self-operated retail points decreased from RMB 66.4 million to RMB 53.2 million, a decline of about 19.9%, accounting for approximately 79.0% of total revenue[45] - Revenue from sales to third-party retailers increased from RMB 4.0 million to RMB 5.5 million, an increase of approximately 37.5%, representing about 8.2% of total revenue[45] - Online sales revenue decreased from RMB 11.9 million to RMB 8.6 million, a decline of approximately 27.7%, accounting for about 12.8% of total revenue[46] - Revenue from proprietary brands fell from RMB 56.1 million in 2024 to RMB 50.3 million in 2025, a decline of approximately 10.3%, while the percentage of total revenue increased from 68.2% to 74.7%[49] Expenses and Costs - The cost of goods sold for the six months ended June 30, 2025, was RMB 17,414,000, an increase of 12.6% from RMB 15,461,000 in 2024[27] - Other income for the six months ended June 30, 2025, totaled RMB 11,128,000, down 22.8% from RMB 14,287,000 in the prior year[25] - Other income and gains fell from RMB 14.3 million in 2024 to RMB 11.1 million in 2025, a decrease of about 22.4%[53] - Administrative expenses decreased from RMB 27.6 million in 2024 to RMB 24.0 million in 2025, a decline of approximately 13.0%[56] Inventory and Receivables - Inventory as of June 30, 2025, was RMB 81,935,000, a decrease of 15.3% from RMB 96,707,000 as of December 31, 2024[34] - Accounts receivable decreased from RMB 28,182 thousand as of December 31, 2024, to RMB 18,292 thousand as of June 30, 2025, representing a decline of approximately 35.2%[35] - The impairment loss on accounts receivable decreased from RMB 11,150 thousand as of December 31, 2024, to RMB 8,656 thousand as of June 30, 2025, a reduction of about 22.4%[37] Operational Focus and Strategy - The company continues to focus on its core business in apparel design, production, marketing, and sales, with no significant changes in operations during the reporting period[7] - The company has established a credit control department to minimize credit risk associated with accounts receivable[35] - The company continues to expand its digital marketing efforts, including the establishment of a digital marketing department and the use of AI-generated content to enhance marketing efficiency[76] Investments and Partnerships - Guangdong Junrui invested a total of RMB 52 million in a partnership, with contributions of RMB 50 million from Guangdong Junrui, RMB 1 million from Guangdong Yida, and RMB 1 million from Zhuhai Xinpao[81] - The 2024 partnership will focus on investing in sectors such as new generation information technology, new energy, and biomedicine, aiming to diversify the company's business and revenue sources[83] - In April 2025, the company sold a total of 6,142,839 shares of Guangdong Shaoneng Group Co., Ltd. for approximately RMB 43.88 million[84] - The company plans to invest RMB 10 million in a technology company focused on developing chemical materials, with potential applications in functional clothing[85] Employee and Corporate Governance - The total employee cost for the reporting period was RMB 92 million, compared to RMB 153 million for the six months ending June 30, 2024[87] - The board does not recommend any interim dividend for the reporting period[90] - The company expresses gratitude to employees for their hard work and loyalty during challenging times[98] - The board of directors acknowledges the continuous support from shareholders, customers, suppliers, and business partners[99] - The executive directors include Mr. Zhang Yongli, Mr. Sun Ruwei, and Ms. Huang Xiaoyun, with non-executive and independent directors listed[100]

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。 （股份代號： 1146） A. 與本公司業務產生協同效應 如公告所披露，合夥企業將投資於半導體、人工智能（「人工智能」）、機器人、 信息技術及生物科技等領域。合夥企業將優先考慮能夠與本公司業務產生協同 效應的投資領域。 此項策略重點與本公司之長遠發展方向一致，尤其契合本公司持續致力於將先 進科技融入其核心業務－服裝及配飾的設計、生產、營銷與銷售。 多年來，本公司積極將新技術應用於日常營運，包括：(1)應用射頻識別（「RFID」） 芯片及技術監控並管理產品全生命週期；(2)成立專門的信息科技子公司，並已 在信息科技領域取得多項自主知識產權；(3)成立專注於將人工智能影像識別技 術應用於服裝設計、版型製作及智能製造的合資公司；以及(4)設立數字營銷部門， 並在該部門下成立人工智能生成內容製作單元。 補充公告 須予披露的交易 成立合夥企業 茲提述本公司於二零二五年六月十二日的公告（以下簡稱「公告」），涉及有關 ...

Group 1 - The company, Huicheng International Holdings (01146.HK), announced a board meeting scheduled for August 26, 2025, to consider and approve the interim results for the six months ending June 30, 2025 [1] - The board meeting will also address the distribution of an interim dividend, if any, along with other matters [1]

匯成國際控股有限公司（「本公司」及其附屬公司「本集團」）董事會茲通告謹定於二零二五 年八月二十六日（星期二）舉行董事會會議，以考慮及通過本集團截至二零二五年六月 三十日止的六個月中期業績，及派發中期股息（如有），以及處理其他事項。 承董事會命 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佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈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。 （股份代號： 1146） 董事會召開日期 匯成國際控股有限公司 主席 張永力 上海，二零二五年八月十四日 於本公佈刊發日期，本公司執行董事為張永力先生、孫如暐先生及黃曉雲女士；非執行 董事為王瑋先生；及獨立非執行董事為鄺偉信先生、楊志偉先生及何家宏先生。 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 匯成國際控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月5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) | 01146 | 說明 | 匯成國際控股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000,000 | HKD ...

Company Overview - 汇成国际控股有限公司 is a rapidly developing company engaged in the design, production, marketing, and sales of clothing, primarily focusing on men's apparel [2] - The company operates multiple internationally recognized brands, targeting middle to high-income consumers with a variety of men's casual wear, including gentleman's leisure, outdoor leisure, and casual clothing [2] - The company has a significant retail network consisting of 134 self-operated retail points in major Chinese cities and 39 third-party retail points in other cities [2] Financial Performance - As of December 31, 2024, 汇成国际控股 reported total revenue of 156 million yuan, a year-on-year decrease of 24.84% [1] - The company recorded a net profit attributable to shareholders of -109 million yuan, an increase of 23.23% year-on-year [1] - The gross profit margin stood at 51.97%, with a debt-to-asset ratio of 16.34% [1] Market Position and Strategy - 汇成国际控股's brand 圣大保罗 is a leading brand in the mid-to-high-end casual men's wear market in China, according to a report by Euromonitor [2] - The company emphasizes a balanced retail model combining self-operated and third-party retail points to penetrate the vast Chinese men's apparel market [2] - The company focuses on well-established licensed brands to attract middle to high-income male customers, leveraging existing market recognition and reputation [2] Industry Valuation - The average price-to-earnings (P/E) ratio for the textile and apparel industry is -9.07 times, with a median of 0.36 times [1] - 汇成国际控股's P/E ratio is -1.69 times, ranking 107th in the industry [1] - Other industry players include FAST RETAIL-DRS at 0.36 times, 浙江永安 at 1.34 times, and others with higher P/E ratios [1]

Company Overview - 汇成国际控股有限公司 is a rapidly developing company engaged in the design, production, marketing, and sales of clothing, focusing primarily on men's apparel [2] - The company operates multiple internationally recognized brands, targeting middle to high-income consumers with a variety of men's casual wear, including gentleman's leisure, outdoor leisure, and casual clothing [2] - The company holds ownership of brands such as London Fog, York, MCS, Henry Cotton, and Marina Yacht in the Greater China region [2] Sales Network - As of December 31, 2023, the company's sales network includes 134 self-operated retail points in major Chinese cities like Beijing, Shanghai, Chengdu, and Shenzhen, along with 39 retail points operated by third-party retailers in other cities [2] - The balanced combination of self-operated and third-party retail points is believed to facilitate rapid growth and penetration into the vast Chinese men's apparel market [2] Market Position and Strategy - According to a report commissioned by Euromonitor, the Saint Laurent brand is a leading brand in the mid-to-high-end casual men's wear segment in China by retail sales [2] - The company aims to differentiate itself from competitors through multiple men's clothing brands, each with a unique style and targeted customer base [2] - The strategy includes selecting established licensed brands to attract middle to high-income male customers, leveraging existing market recognition and goodwill [2] Production and Supply Chain - The company primarily outsources production to minimize costs, allowing it to focus on brand selection, design, and sales management [2] - It owns production facilities in Dezhou, Shandong Province, mainly for producing key products such as pants and jackets [2] Financial Performance - As of December 31, 2024, the company reported total revenue of 156 million yuan, a year-on-year decrease of 24.84%, and a net profit attributable to shareholders of -109 million yuan, a year-on-year increase of 23.23% [1] - The gross profit margin stands at 51.97%, with a debt-to-asset ratio of 16.34% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the textile and apparel industry (TTM) is -7.04 times, with a median of -0.17 times [1] - 汇成国际控股's P/E ratio is -1.78 times, ranking 107th in the industry [1]