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 ...

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) | 01188 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 800,000,000,000 | HKD | | 0.1 | HKD | | 80,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 800,000,000,000 | HKD | | 0.1 | HKD | | 80,000,000,000 | 本月底法定/註冊股本總額： HKD 80,000,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及 ...

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） 於二零二五年七月三十日舉行之 股東週年大會之投票結果 於正道集團有限公司（「本公司」）在二零二五年七月三十日舉行之股東週年大 會（「股東週年大會」）上，股東週年大會主席要求就日期為二零二五年六月四 日之股東週年大會通告（其已載入本公司於同日刊發之通函（「通函」）內）所載 之所有決議案（「該等決議案」）進行投票表決。 除非文義另有所指，否則本公佈所用之專有詞彙與通函所界定者具有相同涵 義。 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。 3 1. 各項該等決議案全文載於通函內。 2. 票數及具表決權股份百分比乃基於親身或由受委代表於股東週年大會上表決之股東 所持之股份總數計算。 於股東週年大會日期： 1 股東週年大會之投票表決結果 有關於股東週年大會上提呈之各項該等決議案之投票表決結果如下： | | （附註1） 普通決 ...

Business Development and Strategy - The company is preparing to launch in-vehicle audio-visual and short drama business in 2025, targeting the rapidly growing automotive sector in China, which has over 500 million passenger vehicles[12] - The short drama industry in China has surpassed traditional film box office revenues, indicating significant growth potential for the company's new ventures[12] - The Group has a long-term commitment to the global automobile industry and is preparing to launch into the in-vehicle audio-visual and short drama business in 2025, capitalizing on the growing demand for in-car entertainment[56][58] - The integration of in-vehicle audio-visual and short drama content into the business model is seen as a potential growth area, especially with the rise of smart vehicles[57] - The Group aims to leverage its technological advantages to enter the fast-growing market of in-vehicle entertainment and achieve its expansion goals[58] - Continuous efforts in research and development, along with exploring collaborations with business partners, are expected to help the Group regain momentum as the global economy improves[49] - The Group plans to launch in-vehicle entertainment and short drama business by 2025, capitalizing on the growing demand driven by the increasing number of electric vehicles and digital media[62] - The Group is committed to accelerating its electric vehicle business development through potential acquisitions[143] Financial Performance - The Group did not record any revenue or gross profit for the year ended December 31, 2024, remaining at approximately HK$Nil, consistent with the previous year[43][50] - The loss for the year decreased to approximately HK$13.8 million, down from HK$22.0 million in 2023, while the loss attributable to shareholders was approximately HK$13.7 million, compared to HK$21.9 million in the prior year[48][53] - Operating expenses decreased to approximately HK$13.8 million from HK$22.4 million in 2023, primarily due to a reduction in employee benefit expenses from approximately HK$13.2 million to HK$6.6 million[44][51] - The uncertain macroeconomic environment and cautious market sentiment significantly hindered the Group's business development, leading to stagnant growth and difficulties in raising capital[42][52] - The Group incurred a loss of HK$13,813,000 for the Year and had net current liabilities of approximately HK$212,675,000 as of December 31, 2024, indicating significant uncertainty regarding its ability to continue as a going concern[128] Management and Governance - Mr. Dan Chuanlong was appointed as an executive director in March 2025, previously managing operations at Tian Cai Holdings and Wuhan Xiu Life Convenience Store[24] - Mr. Kong Fan was appointed as an executive director in March 2025, serving as the deputy general manager of Wuhan Xiu Life since May 2022[25] - Mr. Ruan Jian, aged 44, appointed as a non-executive director in March 2025, has been the deputy general manager of Hubei Dongxing since November 2018[26] - Mr. Zheng Yu, aged 37, appointed as a non-executive director in March 2025, has been the general manager of Wuhan Erchang Beverages since June 2020[27] - Ms. Pan Hong, aged 32, appointed as an independent non-executive director in May 2025, has extensive experience in accounting and currently oversees the accounting department at Wuhan Travel Tian Di Network Technology[28] - Mr. Wu Wenchang, aged 44, appointed as an independent non-executive director in May 2025, has over 20 years of experience in the tourism industry[31] - Mr. Yuen Wai Keung, aged 44, appointed as an independent non-executive director in May 2025, has approximately 20 years of experience in audit, accounting, and finance[32] - Ms. Chen Li, aged 36, appointed as company secretary on 19 March 2025, also serves as the chief financial officer of the Company[35] - The board composition includes both executive and independent non-executive directors, ensuring diverse governance[146] Financing and Capital Structure - The management is actively seeking collaborations and investment opportunities to enhance liquidity and operational performance in the long run[13] - The board is maintaining discussions with private equity firms and investment banks to explore new capital-raising strategies[17] - The Group is actively exploring financing opportunities to support its business development, including equity and debt financing options[74] - A proposed acquisition of Best Knob International Limited, engaged in manufacturing automobile parts, is underway to enhance the Group's electric vehicle manufacturing capabilities[68] - The company entered into a sale and purchase agreement to acquire Best Knob International Limited for HK$392 million, which will be settled by the issuance of promissory notes[89] - The consideration for the acquisition was revised to HK$228 million after negotiations, with payments to be made to two vendors[90] - The company has conditionally agreed to issue a 2-year convertible bond worth HK$100 million at a 5% annual interest rate, convertible into 1 billion new ordinary shares[95] - The net proceeds from the subscription are expected to be approximately HK$99.5 million, with 50% allocated for settling promissory notes related to the acquisition[100] - The company plans to use 30% of the net proceeds from the subscription for business development working capital[100] - The Group's gearing ratio as of December 31, 2024, was approximately 100.2%, slightly improved from 101.9% a year earlier[112] - The Group had no borrowings as of December 31, 2024, and follows a conservative treasury policy[114] Employee and Operational Metrics - The total staff costs, including Director's remuneration, were approximately HK$6.6 million for the year, down from approximately HK$13.2 million in the previous year[120] - The Group had a total of approximately 22 employees as of December 31, 2024, a decrease from 55 employees a year earlier[120] - The Group's employee costs, including director remuneration, were approximately HK$6,600,000 for the Year, down from approximately HK$13,200,000 in the previous year[124] Legal and Compliance Matters - The Group is in negotiations with XALT to recover prepayments related to a legal dispute, while also exploring mediation options[84] - The company is actively seeking professional advice to explore the possibility of recovering any advance payments related to legal disputes[86] - The Company has not faced significant foreign exchange risk and has not adopted any financial instruments for hedging purposes[123] - All related party transactions were fully exempt from announcement and reporting requirements under the Listing Rules[196] Share Options and Ownership Structure - The share option scheme was adopted on June 13, 2013, and is currently in force[165] - The total number of shares in issue as of December 31, 2024, is 20,352,872,747[162] - The total number of share options granted to directors and employees during the period was 140,000,000[166] - The number of share options lapsed during the period was 418,500,000[166] - The company has a total of 400,000,000 share options available as of December 31, 2024[166] - The company’s shareholding structure includes trusts established for the benefit of Dr. Yeung's children, indicating a complex ownership arrangement[162]

Core Insights - The establishment of the national small and micro enterprise fund flow credit information sharing platform by the People's Bank of China aims to alleviate financing difficulties for small and micro enterprises by providing clear insights into their operational vitality and creditworthiness [1][3] Group 1: Financial Services for Small and Micro Enterprises - The fund flow information platform integrates nearly three years of transaction data, enabling banks to assess the financial health and repayment capabilities of enterprises, thus breaking down information barriers [1] - As of May 2025, Guangfa Bank has utilized the platform to query enterprise transaction data 14,700 times and has issued over 10 billion yuan in credit, with 99% directed towards small and micro enterprises [1][2] Group 2: Case Studies of Successful Financing - A management company in Zhanjiang, established in 2022, received an 8.62 million yuan loan from Guangfa Bank after demonstrating strong operational activity through the fund flow information platform, which showed 86 transactions totaling 10.9 million yuan [2] - A pharmaceutical company in Heyuan secured 10 million yuan in credit support after the bank analyzed its healthy operational data, which included 267 transactions and a total fund flow of 31.97 million yuan over the past six months [2] Group 3: Innovations in Financial Products - Guangfa Bank has been actively implementing inclusive finance policies by launching specialized products such as "Technology E-loan" and "Specialized and New E-loan," along with comprehensive financial services to support small and micro enterprises [3] - The bank aims to deepen the application of the fund flow information platform, expand credit scenarios, and innovate financial products to meet the diverse needs of enterprises [3]

Financial Performance - The company reported a total loss of HKD 13,813,000 for the year ending December 31, 2024, compared to a loss of HKD 21,970,000 in 2023, representing a 37% improvement in losses year-over-year[4] - Total comprehensive loss for the year was HKD 11,857,000, down from HKD 21,300,000 in the previous year, indicating a 44% reduction in comprehensive losses[4] - The company had no revenue reported for the year 2024, consistent with the previous year, indicating ongoing challenges in generating sales[4] - The total reported segment loss for the year ended December 31, 2024, was HKD 4,875,000, compared to a loss of HKD 4,426,000 for the year ended December 31, 2023, indicating an increase in losses by approximately 10.1%[20] - The group reported a loss of approximately HKD 13,700,000 for the year, a decrease from HKD 21,900,000 in the previous year, indicating a reduction in losses by about 37%[42] - The group did not record any revenue or gross profit for the year, consistent with the previous year[45] Expenses and Liabilities - Administrative expenses decreased to HKD 13,825,000 from HKD 22,354,000, reflecting a 38% reduction in operational costs[4] - The company’s current liabilities net worth stood at HKD 212,675,000, compared to HKD 201,133,000 in 2023, showing an increase in financial obligations[6] - The company’s cash and bank balances decreased to HKD 202,000 from HKD 874,000, indicating a significant decline in liquidity[6] - The company recognized other income of HKD 27,000, down from HKD 885,000 in the previous year, marking a 97% decrease[16] - The company’s equity attributable to owners decreased to HKD (213,913,000) from HKD (202,187,000), reflecting a decline in shareholder equity[6] - The company’s total liabilities increased to HKD 213,020,000,000 as of December 31, 2024, from HKD 204,645,000,000 as of December 31, 2023, an increase of approximately 4.7%[20] - The employee cost for the year is approximately HKD 6,600,000, down from approximately HKD 13,200,000 as of December 31, 2023[71] Strategic Focus and Development - The company is focused on developing high-tech electric vehicles and advanced battery materials, indicating a strategic emphasis on innovation and market expansion[7] - The group has been engaged in electric vehicle development for over ten years, focusing on advanced battery management systems and related technologies[41] - The company plans to launch in-car audio and short drama business by 2025, capitalizing on the growing demand for in-car entertainment and digital media content[51] - The company is exploring opportunities for industrialization and production development, including facility renovations and procurement of production machinery, contingent on financing opportunities post-COVID-19[53] Financing and Investment - The company is actively seeking financing options, including equity and debt financing, to support its business development plans[56] - A subscription agreement was established for a two-year convertible bond issuance of HKD 100 million at an interest rate of 5%, convertible into 1 billion shares at an initial conversion price of HKD 0.10 per share[59] - The net proceeds from the subscription will be approximately HKD 99,500,000, allocated as follows: 50% for settling the promissory notes, 30% for operational funding, and 20% for general working capital[61] - The group aims to explore all possible financial solutions, including equity financing and debt financing, to enhance financial flexibility[47] Governance and Compliance - The independent auditor's report highlighted significant uncertainty regarding the group's ability to continue as a going concern due to accumulated losses and current liabilities[39] - The board does not recommend any final dividend for the year ending December 31, 2024, consistent with the previous year[65] - The company has not complied with the corporate governance code regarding the attendance of independent non-executive directors at the annual general meeting, as only one independent director attended the meeting held on June 6, 2024[75] - Following the resignations of several directors in 2025, the company failed to meet the requirement of having at least three independent non-executive directors on the board, but has since rectified this by appointing new members[76] - The auditors have confirmed that the preliminary announcement of the group's consolidated financial statements for the year ending December 31, 2024, is consistent with the audited financial statements[78] Market Conditions and Challenges - The macroeconomic environment remains uncertain, significantly hindering the group's business development and fundraising efforts[45] - The group has identified several potential business partners and investors, including government agencies and automotive manufacturers, but negotiations have been delayed due to the COVID-19 pandemic[47] - The company has entered into a purchase agreement to acquire Best Knob International Limited for HKD 392 million, with the price revised to HKD 228 million in a supplemental agreement[57][60] - The acquisition aims to enhance the company's electric vehicle manufacturing capabilities and expand sales channels to leading automotive manufacturers in China[55] Shareholder and Market Activity - Basic loss per share for the year ended December 31, 2024, was approximately HKD 0.674, compared to HKD 1.078 for the year ended December 31, 2023[28] - The company's shares have been suspended from trading since April 1, 2025, pending further notice[82] - The group has no significant contingent liabilities as of December 31, 2024[62] - The group has no pledged assets as of December 31, 2024, consistent with the previous year[69] - The group has no borrowings as of December 31, 2024, and maintains a conservative treasury policy[68]