[Condensed Consolidated Interim Results](index=1&type=section&id=Condensed%20Consolidated%20Interim%20Results) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group achieved revenue of HKD 6,764 thousand in H1 2025, reversing last year's zero revenue, and reported an operating profit of HKD 236 thousand, a significant improvement from a loss of HKD 5,854 thousand in the prior period, with profit attributable to owners of the Company at HKD 290 thousand and basic earnings per share of HKD 0.01 cent Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended 30 June) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Revenue | 6,764 | – | | Cost of sales | (4,058) | – | | Gross profit | 2,706 | – | | Other income | 1 | 33 | | Distribution and general operating expenses | (2,471) | (5,887) | | Operating profit/(loss) | 236 | (5,854) | | Finance costs | – | (14) | | Profit/(loss) before tax | 236 | (5,868) | | Income tax expense | – | – | | Profit/(loss) for the period | 236 | (5,868) | | Other comprehensive (loss)/income for the period | (178) | 1,377 | | Total comprehensive income/(loss) for the period | 58 | (4,491) | | Profit/(loss) for the period attributable to owners of the Company | 290 | (5,842) | | Profit/(loss) for the period attributable to non-controlling interests | (54) | (26) | | Total comprehensive income/(loss) for the period attributable to owners of the Company | 70 | (4,432) | | Total comprehensive income/(loss) for the period attributable to non-controlling interests | (12) | (59) | | Basic and diluted earnings/(loss) per share (HK cents) | 0.01 | (0.03) | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's net current liabilities and net liabilities both stood at approximately HKD 212,617 thousand, indicating ongoing financial pressure, with total assets of HKD 1,975 thousand and total liabilities of HKD 214,592 thousand Condensed Consolidated Statement of Financial Position (As at 30 June 2025) | Indicator | 30 June 2025 (HKD thousands) | 31 December 2024 (HKD thousands) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | – | – | | Equity investments at fair value through other comprehensive income | – | – | | **Current assets** | | | | Trade and other receivables | 1,766 | 143 | | Bank and cash balances | 209 | 202 | | **Current liabilities** | | | | Trade and other payables | 113,507 | 112,006 | | Loan from a shareholder | 101,085 | 101,014 | | Net current liabilities | (212,617) | (212,675) | | Net liabilities | (212,617) | (212,675) | | **Capital and reserves** | | | | Share capital | 2,035,287 | 2,035,287 | | Reserves | (2,249,130) | (2,249,200) | | Equity attributable to owners of the Company | (213,843) | (213,913) | | Non-controlling interests | 1,226 | 1,238 | | Total equity | (212,617) | (212,675) | [Condensed Consolidated Statement of Changes in Equity](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, equity attributable to owners of the Company deficit increased from HKD 202,187 thousand on January 1, 2024, to HKD 213,843 thousand, but slightly improved from HKD 213,913 thousand on January 1, 2025, with total comprehensive income for the period at HKD 58 thousand Condensed Consolidated Statement of Changes in Equity (For the six months ended 30 June) | Indicator | 1 January 2024 (HKD thousands) | 30 June 2024 (HKD thousands) | 1 January 2025 (HKD thousands) | 30 June 2025 (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Total equity attributable to owners of the Company | (202,187) | (206,619) | (213,913) | (213,843) | | Non-controlling interests | 1,369 | 1,310 | 1,238 | 1,226 | | Total | (200,818) | (205,309) | (212,675) | (212,617) | | Total comprehensive income/(loss) for the period (attributable to owners of the Company) | – | (4,432) | – | 70 | | Total comprehensive income/(loss) for the period (attributable to non-controlling interests) | – | (59) | – | (12) | | Total comprehensive income/(loss) for the period | – | (4,491) | – | 58 | [Condensed Consolidated Statement of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash generated from operating activities was HKD 14 thousand, compared to HKD 119 thousand in the prior period, with zero net cash used in financing activities and cash and cash equivalents at period-end of HKD 209 thousand Condensed Consolidated Statement of Cash Flows (For the six months ended 30 June) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Net cash generated from operating activities | 14 | 119 | | Net cash used in financing activities | – | (644) | | Net increase/(decrease) in cash and cash equivalents | 14 | (525) | | Cash and cash equivalents at beginning of period | 202 | 874 | | Effect of foreign exchange rate changes | (7) | 16 | | Cash and cash equivalents at end of period | 209 | 365 | | Bank and cash balances | 209 | 365 | [Notes to the Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [1. General Information](index=6&type=section&id=1.%20General%20Information) Rightway Group Holdings Limited is an investment holding company primarily engaged in high-tech electric vehicle development, battery management systems and spare parts sales, advanced battery materials development, and newly added in-car audio-visual and short drama business in 2025 - The Company's principal businesses include the development and sales of high-tech electric vehicles, battery management systems and spare parts, advanced battery materials, with new in-car audio-visual and short drama business added in 2025[7](index=7&type=chunk) [2. Basis of Preparation](index=6&type=section&id=2.%20Basis%20of%20Preparation) The condensed financial statements are prepared in accordance with HKAS 34 "Interim Financial Reporting" issued by the HKICPA and the Listing Rules, consistent with accounting policies used for the 2024 annual financial statements - The condensed financial statements comply with HKAS 34 and the Listing Rules, with accounting policies consistent with the 2024 annual financial statements[8](index=8&type=chunk) [3. Going Concern Basis](index=7&type=section&id=3.%20Going%20Concern%20Basis) As of June 30, 2025, the Group faces net current liabilities and net liabilities of approximately HKD 216,617 thousand, indicating significant uncertainty regarding its ability to continue as a going concern, relying on shareholder support, new share subscriptions, and convertible bond issuance - The Group faces net current liabilities and net liabilities of approximately **HKD 216,617 thousand**, indicating significant uncertainty regarding its ability to continue as a going concern[9](index=9&type=chunk) - Going concern is dependent on financial support from shareholders, new share subscriptions, and convertible bond issuance[9](index=9&type=chunk) - The Group has taken measures to improve its financial position, including resuming business operations, securing a **HKD 50,000,000** loan, and a shareholder extending the maturity date of a **HKD 101,014,000** loan[10](index=10&type=chunk)[11](index=11&type=chunk) [4. Adoption of New and Revised Hong Kong Financial Reporting Standards](index=8&type=section&id=4.%20Adoption%20of%20New%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group has adopted all new and revised HKFRSs effective January 1, 2025, without significant changes to accounting policies or financial statement presentation, while the impact of standards not yet effective is being assessed - The Group has adopted all new and revised HKFRSs effective, resulting in no significant changes to accounting policies or financial statement presentation[12](index=12&type=chunk) [5. Revenue and Segment Information](index=9&type=section&id=5.%20Revenue%20and%20Segment%20Information) In H1 2025, the Group generated total revenue of HKD 6,764 thousand, primarily from battery management systems and spare parts sales (HKD 5,690 thousand) and in-car audio-visual and short drama business (HKD 1,074 thousand), all from the China market, achieving a total segment profit of HKD 1,957 thousand Reportable Segment Revenue and Profit/(Loss) (For the six months ended 30 June) | Segment Business | H1 2025 Revenue (HKD thousands) | H1 2025 Segment Profit/(Loss) (HKD thousands) | H1 2024 Revenue (HKD thousands) | H1 2024 Segment Loss (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | In-car audio-visual and short drama business | 1,074 | 423 | – | – | | High-tech electric vehicles | – | (261) | – | (1,993) | | Battery management systems and spare parts | 5,690 | 1,908 | – | (194) | | Advanced battery materials | – | (113) | – | (66) | | **Total** | **6,764** | **1,957** | **–** | **(2,253)** | - All revenue is derived from the China market and recognized at a point in time[16](index=16&type=chunk)[17](index=17&type=chunk) [6. Finance Costs](index=12&type=section&id=6.%20Finance%20Costs) For the six months ended June 30, 2025, the Group incurred no finance costs, compared to HKD 14 thousand in the prior period Finance Costs (For the six months ended 30 June) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Finance costs | – | (14) | [7. Income Tax Expense](index=13&type=section&id=7.%20Income%20Tax%20Expense) For the six months ended June 30, 2025, the Group had no income tax expense as no assessable profits were generated in Hong Kong - The Group generated no assessable profits in Hong Kong, resulting in no income tax expense for the current and prior periods[22](index=22&type=chunk) [8. Profit/(Loss) for the Period](index=13&type=section&id=8.%20Profit%2F%28Loss%29%20for%20the%20Period) The Group's profit for the period was primarily influenced by the cost of inventories sold and employee costs, with the latter significantly decreasing from HKD 2,836 thousand in the prior period to HKD 914 thousand Components of Profit/(Loss) for the Period (For the six months ended 30 June) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Cost of inventories sold | 4,058 | – | | Depreciation | – | 54 | | Employee costs (salaries, bonuses and allowances) | 862 | 2,616 | | Employee costs (retirement benefit scheme contributions) | 52 | 220 | | **Total employee costs** | **914** | **2,836** | [9. Dividends](index=13&type=section&id=9.%20Dividends) The Board of Directors did not recommend or declare any dividends during the period - The Board of Directors did not recommend or declare any dividends during the current and prior periods[24](index=24&type=chunk) [10. Earnings/(Loss) Per Share](index=14&type=section&id=10.%20Earnings%2F%28Loss%29%20Per%20Share) For the six months ended June 30, 2025, basic earnings per share were HKD 0.01 cent, a turnaround from a loss of HKD 0.03 cent per share in the prior period, with all potential ordinary shares having an anti-dilutive effect Earnings/(Loss) Per Share (For the six months ended 30 June) | Indicator | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Profit/(loss) attributable to owners of the Company (HKD thousands) | 290 | (5,842) | | Weighted average number of ordinary shares in issue (shares) | 20,352,873,000 | 20,352,873,000 | | Basic earnings/(loss) per share (HK cents) | 0.01 | (0.03) | - All potential ordinary shares had an anti-dilutive effect in the current and prior periods[26](index=26&type=chunk) [11. Property, Plant and Equipment](index=14&type=section&id=11.%20Property%2C%20Plant%20and%20Equipment) The Group did not acquire any property, plant, and equipment during the period - The Group did not acquire any property, plant, and equipment during the current and prior periods[27](index=27&type=chunk) [12. Trade and Other Receivables](index=14&type=section&id=12.%20Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables significantly increased to HKD 1,766 thousand from HKD 143 thousand on December 31, 2024, with trade receivables of HKD 1,618 thousand all aged within 0 to 60 days Trade and Other Receivables (As at 30 June 2025) | Indicator | 30 June 2025 (HKD thousands) | 31 December 2024 (HKD thousands) | | :--- | :--- | :--- | | Trade receivables | 1,618 | – | | Prepayments to a supplier | 332,641 | 332,641 | | Prepayments to other parties | 4,557 | 4,537 | | Deposits and other receivables | 109,687 | 108,660 | | Less: Impairment losses | (446,737) | (445,695) | | **Total** | **1,766** | **143** | - The average credit period granted to trade customers is **30 to 90 days**, with all trade receivables aged within **0 to 60 days**[29](index=29&type=chunk)[31](index=31&type=chunk) [13. Trade and Other Payables](index=15&type=section&id=13.%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables slightly increased to HKD 113,507 thousand from HKD 112,006 thousand on December 31, 2024, with trade payables of HKD 5,414 thousand all aged over 360 days Trade and Other Payables (As at 30 June 2025) | Indicator | 30 June 2025 (HKD thousands) | 31 December 2024 (HKD thousands) | | :--- | :--- | :--- | | Trade payables | 5,414 | 5,234 | | Amount due to a director | 2,071 | 2,071 | | Accrued expenses and other payables | 106,022 | 104,701 | | **Total** | **113,507** | **112,006** | - All trade payables are aged over **360 days**[32](index=32&type=chunk) [14. Loan from a Shareholder](index=16&type=section&id=14.%20Loan%20from%20a%20Shareholder) As of June 30, 2025, the loan from a shareholder amounted to HKD 101,085 thousand, which is unsecured, interest-free, and repayable on demand - The loan from a shareholder is **HKD 101,085 thousand**, unsecured, interest-free, and repayable on demand[4](index=4&type=chunk)[33](index=33&type=chunk) [15. Share Capital](index=16&type=section&id=15.%20Share%20Capital) As of June 30, 2025, the Company's authorized share capital was HKD 80,000,000 thousand, with issued and fully paid share capital of HKD 2,035,287 thousand, comprising 20,352,872,747 shares, consistent with the prior period Share Capital (As at 30 June 2025) | Indicator | 30 June 2025 (HKD thousands) | 31 December 2024 (HKD thousands) | | :--- | :--- | :--- | | Authorized share capital | 80,000,000 | 80,000,000 | | Issued and fully paid share capital | 2,035,287 | 2,035,287 | [16. Related Party Transactions](index=17&type=section&id=16.%20Related%20Party%20Transactions) As of June 30, 2025, the Group's amount due to a related party was HKD 8,719 thousand, consistent with December 31, 2024 Amount Due to a Related Party (As at 30 June 2025) | Indicator | 30 June 2025 (HKD thousands) | 31 December 2024 (HKD thousands) | | :--- | :--- | :--- | | Amount due to a related party | 8,719 | 8,719 | [17. Events After the Reporting Period](index=17&type=section&id=17.%20Events%20After%20the%20Reporting%20Period) Subsequent to the reporting period, a shareholder agreed to extend the maturity date of a loan of approximately HKD 101,014,000 to July 14, 2027, or until the Group is able to repay - Subsequent to the reporting period, a shareholder agreed to extend the maturity date of a loan of approximately **HKD 101,014,000** to July 14, 2027[38](index=38&type=chunk) [18. Approval of Condensed Consolidated Financial Statements](index=17&type=section&id=18.%20Approval%20of%20Condensed%20Consolidated%20Financial%20Statements) The interim financial statements were approved and authorized for issue by the Board of Directors on August 29, 2025 - The interim financial statements were approved and authorized for issue by the Board of Directors on August 29, 2025[39](index=39&type=chunk) [Management Discussion and Analysis and Other Information](index=18&type=section&id=Management%20Discussion%20and%20Analysis%20and%20Other%20Information) [Business Review](index=18&type=section&id=Business%20Review) The Group primarily engages in battery management systems and spare parts, high-tech electric vehicles, and advanced battery materials, with new in-car audio-visual and short drama business added in 2025, achieving a turnaround to profit of approximately HKD 300 thousand attributable to owners of the Company in H1 2025 through cost control and business resumption - The Group's principal businesses include the development and sales of battery management systems and spare parts, high-tech electric vehicles, and advanced battery materials, with new in-car audio-visual and short drama business added in 2025[40](index=40&type=chunk) - Uncertain macroeconomic environment and conservative market sentiment adversely impacted electric vehicle development[40](index=40&type=chunk) - Receipt of battery management system and spare parts sales orders in Q2 2025 marked business resumption and indicated growth potential[40](index=40&type=chunk) - The Group implemented strict cost control, reducing distribution and general operating expenses to approximately **HKD 2,500 thousand** (H1 2024: HKD 5,900 thousand)[41](index=41&type=chunk) - The Group turned profitable in the period, achieving approximately **HKD 200 thousand** (H1 2024: loss of HKD 5,900 thousand), with profit attributable to owners of the Company of approximately **HKD 300 thousand** (H1 2024: loss of HKD 5,800 thousand)[41](index=41&type=chunk) [Prospects and Business Development of the Group](index=20&type=section&id=Prospects%20and%20Business%20Development%20of%20the%20Group) The Group is committed to global automotive industry development and new business expansion, with the new in-car audio-visual and short drama business addressing smart car entertainment needs, while electric vehicle industrialization, despite core technology mastery, is hindered by external factors and awaits financing - The Group has a long-standing commitment to the global automotive industry and has witnessed its continuous evolution[42](index=42&type=chunk) [In-car Audio-visual and Short Drama Business](index=20&type=section&id=In-car%20Audio-visual%20and%20Short%20Drama%20Business) The Group launched its in-car audio-visual and short drama business in 2025 to capitalize on the demand for in-car entertainment and digital short drama content driven by new energy vehicle growth, aiming for revenue diversification - The Group launched its in-car audio-visual and short drama business in 2025 to seize market opportunities in automotive entertainment and digital short drama content[43](index=43&type=chunk) - This new business aims to expand the business scope and diversify revenue streams leveraging technological advantages[43](index=43&type=chunk) [Electric Vehicle Development](index=21&type=section&id=Electric%20Vehicle%20Development) The Group has over a decade of experience in electric vehicle development, mastering core technologies and producing prototypes, but industrialization has been stalled by the COVID-19 pandemic and macroeconomic uncertainties, with future plans to initiate production through financing - The Group has been engaged in electric vehicle development for over a decade, mastering core technologies across all major areas and components[44](index=44&type=chunk) - Operations were impacted after the COVID-19 outbreak, with no significant progress in industrialization transition[44](index=44&type=chunk) - Subject to financing opportunities, the Group plans to initiate industrialization development, including facility renovation, procurement of production robotic arms, optimization of manufacturing processes, and obtaining mass production licenses[44](index=44&type=chunk) - Global economic uncertainties, trade frictions, and exchange rate fluctuations will continue to impact the Group's development plans, and the Group will actively explore financing opportunities[45](index=45&type=chunk) [Proposed Acquisition](index=22&type=section&id=Proposed%20Acquisition) The Group is proceeding with the acquisition of Best Knob International Limited, a car parts manufacturer, aiming for synergistic benefits through integration of powertrain and battery packs, expanded manufacturing capabilities, sales channel expansion, and accelerated R&D to secure stable revenue and improve profitability - The Group is proceeding with the acquisition of all equity in Best Knob International Limited and its subsidiaries, primarily engaged in car parts manufacturing[47](index=47&type=chunk) - The acquisition aims to generate synergies through integrating powertrain and battery packs, expanding manufacturing capabilities, broadening sales channels, and accelerating R&D[47](index=47&type=chunk) [Financing Opportunities](index=23&type=section&id=Financing%20Opportunities) The Board is actively exploring various financing options, including equity and debt financing, rights issues, public offerings, or bank loans, to support business development, having recently secured ongoing support from major shareholders and a HKD 50,000,000 loan - The Board is actively exploring various financing options, including equity financing, debt financing, rights issues, public offerings, or bank loans[48](index=48&type=chunk) - The Group has secured continuous financial support from major shareholders and obtained a **HKD 50,000,000** loan facility on July 10, 2025[48](index=48&type=chunk) [Material Acquisitions or Disposals](index=23&type=section&id=Material%20Acquisitions%20or%20Disposals) Aside from the ongoing acquisition of Best Knob International Limited, the Group had no other material acquisitions or disposals of assets during the period, with the acquisition consideration revised to HKD 228,000,000, payable via promissory notes, and currently uncompleted - Aside from the Best Knob International Limited acquisition, the Group had no other material acquisitions or disposals of assets during the period[49](index=49&type=chunk) - The consideration for the Best Knob International Limited acquisition has been revised to **HKD 228,000,000**, payable through the issuance of promissory notes, and is currently uncompleted[51](index=51&type=chunk) [Fundraising Activities During the Period](index=24&type=section&id=Fundraising%20Activities%20During%20the%20Period) During the period, the Group undertook two main fundraising activities: a subscription agreement with Mr. Zhou Zu'an for HKD 100,000,000 convertible bonds and a subscription agreement with M6 Investments L.L.C. for 2,000,000,000 shares, both uncompleted, with convertible bond proceeds earmarked for acquisition settlement, business development, and general working capital - The Group entered into a subscription agreement with Mr. Zhou Zu'an for the issuance of **HKD 100,000,000** principal amount, 5% annual interest, two-year convertible bonds, with an initial conversion price of **HKD 0.10** per share[52](index=52&type=chunk) - The Group entered into a subscription agreement with M6 Investments L.L.C. for the subscription of **2,000,000,000** shares at **HKD 0.10** per share, with the deadline extended to June 30, 2025[53](index=53&type=chunk) - Both subscription matters remain uncompleted[53](index=53&type=chunk)[54](index=54&type=chunk) - Net proceeds from the convertible bonds, approximately **HKD 99,500,000**, are intended for 50% settlement of acquisition promissory notes, 30% for business development working capital, and 20% for general working capital[54](index=54&type=chunk) [Contingent Liabilities](index=26&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no material contingent liabilities - As of June 30, 2025, the Group had no material contingent liabilities[57](index=57&type=chunk) [Material Investments](index=26&type=section&id=Material%20Investments) During the period, the Group held no material investments and had no plans for material investments or capital assets for the year ending December 31, 2025 - During the period, the Group held no material investments and had no plans for material investments or capital assets for the year ending December 31, 2025[58](index=58&type=chunk) [Post-Reporting Period Events](index=26&type=section&id=Post-Reporting%20Period%20Events) Significant events occurring after the reporting period are detailed in Note 17 to the condensed consolidated interim financial statements - Significant events occurring after the reporting period are detailed in Note 17 to the condensed consolidated interim financial statements[59](index=59&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=26&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities, and no treasury shares were held as of June 30, 2025 - During the period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities, and no treasury shares were held[60](index=60&type=chunk) [Liquidity and Financial Resources, Capital Structure and Treasury Policy](index=26&type=section&id=Liquidity%20and%20Financial%20Resources%2C%20Capital%20Structure%20and%20Treasury%20Policy) As of June 30, 2025, the Group reported a total equity deficit of approximately HKD 212,600 thousand, a capital gearing ratio of approximately 100.9%, net current liabilities of approximately HKD 212,600 thousand, and cash and cash equivalents of HKD 200 thousand, managing liquidity risk with a conservative and balanced treasury policy Overview of Liquidity and Financial Resources | Indicator | 30 June 2025 (HKD thousands) | 31 December 2024 (HKD thousands) | | :--- | :--- | :--- | | Total equity deficit | 212,600 | 212,700 | | Capital gearing ratio | 100.9% | 100.2% | | Net current liabilities | 212,600 | 212,700 | | Cash and cash equivalents | 200 | 200 | - The Group has no borrowings and adopts a conservative and balanced treasury policy to manage liquidity risk[63](index=63&type=chunk) [Pledge of the Group's Assets](index=27&type=section&id=Pledge%20of%20the%20Group%27s%20Assets) As of June 30, 2025, the Group had not pledged any assets - As of June 30, 2025, the Group had not pledged any assets[64](index=64&type=chunk) [Exchange Rate Fluctuation Risk and Any Related Hedging](index=27&type=section&id=Exchange%20Rate%20Fluctuation%20Risk%20and%20Any%20Related%20Hedging) The Group's revenue and expenses are predominantly denominated in RMB, HKD, and/or USD, thus it does not face significant foreign exchange fluctuation risk and has not employed any financial instruments for hedging - The Group does not face significant foreign exchange fluctuation risk, therefore no financial instruments were used for hedging[65](index=65&type=chunk) [Human Resources and Remuneration Policy](index=28&type=section&id=Human%20Resources%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had 23 employees, with employee costs (including directors' emoluments) of approximately HKD 900 thousand, a significant decrease from the prior period, and a remuneration policy based on performance, potentially including share options Human Resources Overview | Indicator | 30 June 2025 | 31 December 2024 | | :--- | :--- | :--- | | Number of employees | 23 | 22 | Employee Costs (For the six months ended 30 June) | Indicator | H1 2025 (HKD thousands) | H1 2024 (HKD thousands) | | :--- | :--- | :--- | | Employee costs (including directors' emoluments) | 900 | 2,800 | - The Group's remuneration policy is performance-based and may include share options to attract, retain, and motivate employees[66](index=66&type=chunk) [Corporate Governance](index=28&type=section&id=Corporate%20Governance) The Company is committed to maintaining high corporate governance standards, ensuring transparency, effective protection of shareholder interests, and enhancing corporate value, adhering to the principles and code provisions of the Corporate Governance Code in Appendix C1 of the Listing Rules during the period - The Company is committed to maintaining high corporate governance standards and complies with the principles and code provisions of the Corporate Governance Code in Appendix C1 of the Listing Rules[67](index=67&type=chunk) [Standard Code for Directors' Securities Transactions](index=28&type=section&id=Standard%20Code%20for%20Directors%27%20Securities%20Transactions) The Company has adopted a standard code governing directors' securities transactions, and all directors confirmed compliance with this code during the period - The Company has adopted a standard code governing directors' securities transactions, and all directors confirmed compliance with this code during the period[68](index=68&type=chunk) [Review of Financial Statements](index=28&type=section&id=Review%20of%20Financial%20Statements) The Company's Audit Committee reviewed and discussed the Group's condensed consolidated financial statements and this announcement for the period with management, without objection - The Audit Committee reviewed and discussed the financial statements and announcement for the period with management, without objection[69](index=69&type=chunk) [Publication of 2025 Interim Results Announcement and Interim Report](index=29&type=section&id=Publication%20of%202025%20Interim%20Results%20Announcement%20and%20Interim%20Report) This announcement has been published on the HKEX and Company websites, and the interim report will be dispatched to shareholders in due course - This announcement has been published on the HKEX and Company websites, and the interim report will be dispatched to shareholders in due course[70](index=70&type=chunk) [Continued Suspension of Trading](index=29&type=section&id=Continued%20Suspension%20of%20Trading) The Company's shares have been suspended from trading on the HKEX since April 1, 2025, and will remain suspended pending fulfillment of resumption guidance - The Company's shares have been suspended from trading on the HKEX since April 1, 2025, and will remain suspended pending fulfillment of resumption guidance[71](index=71&type=chunk) [By Order of the Board](index=29&type=section&id=By%20Order%20of%20the%20Board) This announcement was approved by the Board of Directors on August 29, 2025, and signed by Chairman Mr. Shan Chuanlong, with the Board comprising two executive, two non-executive, and three independent non-executive directors as of the announcement date - The Board of Directors approved this announcement on August 29, 2025[73](index=73&type=chunk) - The Board of Directors comprises two executive directors, two non-executive directors, and three independent non-executive directors[73](index=73&type=chunk)

Core Viewpoint - The company expects to report a net profit attributable to shareholders of approximately HKD 100,000 to HKD 500,000 for the six months ending June 30, 2025, a significant turnaround from a net loss of approximately HKD 5.8 million in the same period of 2024 [1] Financial Performance - The expected shift from net loss to net profit is primarily due to a recovery in revenue from the in-car audio and short video business, as well as the battery management system and spare parts [1] - Administrative expenses during the reporting period have decreased, contributing to the improved financial outlook [1] Stock Status - The company continues to be suspended from trading [1]

Core Viewpoint - The company expects to report a net profit attributable to shareholders of approximately HKD 100,000 to HKD 500,000 for the six months ending June 30, 2025, a significant turnaround from a net loss of approximately HKD 5.8 million in the same period of 2024 [1] Group 1 - The expected shift from net loss to net profit is primarily due to the recovery in revenue from the in-car audio and short video business, as well as the battery management system and spare parts [1] - Administrative expenses during the reporting period have decreased, contributing to the improved financial outlook [1] - The company remains suspended from trading [1]

Core Viewpoint - The company expects to report a net profit attributable to shareholders ranging from approximately HKD 0.1 million to HKD 0.5 million for the six months ending June 30, 2025, a significant turnaround from a net loss of approximately HKD 5.8 million in the same period of 2024 [1] Group 1 - The expected shift from net loss to net profit is primarily due to the recovery in revenue from the in-car audio and short video business, as well as the battery management system and spare parts [1] - Administrative expenses during the reporting period are anticipated to decrease, contributing to the improved financial 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。 HYBRID KINETIC GROUP LIMITED 正道集團有限公 司 （於百慕達註冊成立之有限公司） （股份代號：1188） 正面盈利預告 及 繼續暫停買賣 本公佈乃由正道集團有限公司（「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（「聯交所」）證券上市規則第13.09(2)條及香港法例 第571章證券及期貨條例第XIVA部之內幕消息條文而作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東及潛在投資者，根據 對本集團截至二零二五年六月三十日止六個月（「報告期間」）未經審核管理賬 目及董事會現時可得資料的初步評估，預期報告期間將錄得本公司擁有人應 佔淨溢利介乎約0.1百萬港元至約0.5百萬港元，而二零二四年同期則錄得本公 司擁有人應佔凈虧損約5.8百萬港元。 上述預期由淨虧損轉為淨溢利乃主要由於(i)車載影音及短劇業務與電池管理 系統及備品備件的收入回升； ...

Core Viewpoint - 正道集团 is facing a winding-up petition due to an alleged debt of HKD 171,100, which has since been settled with the claimant [1] Group 1: Legal Proceedings - A winding-up petition was submitted to the High Court of the Hong Kong Special Administrative Region on August 6, 2025, by Li Changyue, claiming the company owed him HKD 171,100 for services rendered [1] - The hearing for the petition is scheduled for October 15, 2025, at 10:00 AM [1] - The company's management received the petition on August 6, 2025, but did not recognize its significance until August 15, 2025, when the board was informed [1] Group 2: Resolution - Following the board's awareness of the petition, the company took immediate action to prepare and publish a notice regarding the petition [1] - As of the date of the announcement, the company has reached a settlement agreement with the claimant and has cleared the debt and related fees [1] - The claimant has agreed to withdraw the petition through a consent order, pending court approval [1]

Core Points - 正道集团 has filed for a winding-up petition in the High Court of Hong Kong, scheduled for hearing on October 15, 2025, due to an alleged debt of HKD 171,100 owed to the petitioner for services rendered [1] - The company's management received the petition on August 6, 2025, but did not recognize its significance and urgency, delaying its communication to the board until August 15, 2025 [1] - The company has since reached a settlement agreement with the petitioner, cleared the debt and related fees, and the petitioner has agreed to withdraw the petition pending court approval [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。 HYBRID KINETIC GROUP LIMITED 正道集團有限公 司 （於百慕達註冊成立之有限公司） （股份代號：1188） 有關清盤呈請之公佈 本公佈乃由正道集團有限公司（「本公司」）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(2)(a)條及第13.25(1)(b)條以及《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（定義見上市規則）作出。 董事（「董事」）會（「董事會」）宣佈，於二零二五年八月六日，李暢悅先生（「呈請 人」）就指稱結欠其若干債務根據二零二五年第478號公司（清盤）程序向香港 特別行政區高等法院（「高等法院」）提交針對本公司有關香港法例第32章《公司 （清盤及雜項條文）條例》之清盤呈請（「該呈請」）。該呈請已排期於二零二五 年十月十五日上午十時正在香港特別行政區高等法院進行聆訊。 該呈請乃針對本公司提出，原因是本公司未能結清據 ...

Core Viewpoint - Zhengdao Group (01188.HK) will hold a board meeting on August 29, 2025, to review and approve the interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend distribution, if any [1] Summary by Relevant Categories - **Company Announcement** - The board meeting is scheduled for August 29, 2025 [1] - The meeting will focus on the interim results for the six months ending June 30, 2025 [1] - The board will also consider the proposal for an interim dividend distribution [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。 正道集團有限公司 主席 截至本公佈之日，董事會由兩名執行董事組成，即單傳龍先生（主席）和孔凡先生，兩 名非執行董事，即阮健先生和鄭宇先生，三名獨立非執行董事，潘虹女士、吳文昌先生 及袁偉強先生。 董事會召開日期 正道集團有限公司 (「本公司」) 董事 (「董事」) 會 (「董事會」) 謹此公佈，本公司將於 二零二五年八月二十九日（星期五）舉行董事會會議，藉以（其中包括）考慮及批准本 公司及其附屬公司截至二零二五年六月三十日止六個月的未經審核中期業績及其發佈， 並考慮派發中期股息（如有）。 承董事會命 香港，二零二五年八月十八日 單傳龍 ...