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8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: 中科生物控股有限公司 呈交日期: 2025年9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) | 01237 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 200,000,000 | HKD | | 0.5 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 200,000,000 | HKD | | 0.5 | HKD | | 100,000,000 | 第 2 頁 共 10 頁 v ...

Group 1 - The core viewpoint of the announcement is the resolution of the third extraordinary general meeting of shareholders held by Ningxia Zhongke Biotechnology Co., Ltd. on September 2, 2025, with no resolutions being rejected [1][2]. - The meeting was convened by the company's board of directors and was presided over by Chairman Fu Jie, complying with the provisions of the Company Law and the company's articles of association [2][3]. - All seven current directors attended the meeting, along with the board secretary and senior management [3]. Group 2 - The main agenda item discussed was the proposal regarding the company's new related party relationships and the expected daily related party transactions for the year 2025, which was approved by the shareholders [4]. - The voting results indicated that the proposal was passed with more than half of the voting rights held by attending shareholders or their proxies [4]. - The meeting was witnessed by lawyers from Beijing Dacheng (Yinchuan) Law Firm, who confirmed that the meeting's procedures and voting results were in compliance with legal and regulatory requirements [5].

Core Viewpoint - The legal opinion letter confirms that the procedures for convening and holding the 2025 third extraordinary general meeting of Ningxia Zhongke Biotechnology Co., Ltd. comply with relevant laws and regulations, as well as the company's articles of association [1][2][5]. Group 1: Meeting Procedures - The company announced the notice for the third extraordinary general meeting on August 16, 2025, through major financial publications and the Shanghai Stock Exchange website, detailing the meeting's time, location, agenda, and registration methods for shareholders [2][3]. - The meeting utilized a combination of on-site and online voting, with specific time slots for voting through the Shanghai Stock Exchange's systems [3][4]. Group 2: Attendees and Qualifications - The meeting was convened by the company's board of directors, with the chairman, Mr. Fu Jie, presiding over the session [4]. - A total of 256 shareholders or their representatives attended the meeting, holding 220,151,990 shares, which accounted for 32.14% of the total voting shares [4][6]. Group 3: Agenda and Voting Results - The agenda included a proposal regarding the company's new related party relationships and the expected daily related transactions for 2025 [5]. - The voting results showed that 218,998,690 shares (99.4761%) approved the proposal, while 1,105,500 shares (0.5021%) opposed it, and 47,800 shares (0.0218%) abstained [5][6]. Group 4: Conclusion - The legal opinion concludes that all aspects of the meeting, including the convening, attendee qualifications, voting procedures, and results, are in compliance with applicable laws and the company's articles of association [6].

集团的核心业务分部包括生产及销售木制品，以及生产及销售再生能源产品。期内，两个业务分部收益 分别约人民币1.981亿元及人民币140万元，占总收益99.3%及0.7%。 格隆汇8月29日丨中科生物(01237.HK)公布中期业绩，2025年上半年，集团收益较去年同期略微上升 7.0%至人民币1.995亿元。期内，集团录得毛利率12.9%(2024年上半年：7.2%)。期内，集团录得毛利人 民币1570万元(2024年上半年：人民币1340万元)。集团于期内录得溢利约人民币880万元(2024年上半 年：亏损人民币170万元)。 ...

Group 1 - The core viewpoint of the article is that Zhongke Biological (01237) has reported a positive financial performance for the first half of 2025, with significant growth in revenue and a turnaround in profit [1] - The company's revenue reached 199.5 million yuan, representing a year-on-year increase of 6.98% [1] - Shareholders' profit attributable to the company was 8.752 million yuan, compared to a loss of 1.715 million yuan in the same period last year, indicating a successful turnaround [1] - The basic earnings per share were reported at 0.095 yuan [1]

Group 1 - The core viewpoint of the article is that Zhongke Biological (01237) has reported a positive financial performance for the first half of 2025, with a revenue increase and a significant turnaround in profit [1] - The company achieved a revenue of 199.5 million yuan, representing a year-on-year increase of 6.98% [1] - Shareholders' profit amounted to 8.752 million yuan, a significant improvement from a loss of 1.715 million yuan in the same period last year, indicating a successful turnaround [1] - The basic earnings per share were reported at 0.095 yuan [1]

Corporate Information [Board of Directors and Committees](index=5&type=section&id=Board%20of%20Directors%20and%20Committees) The company's board of directors consists of executive directors Ms. Xie Qingmei (Chairperson), Mr. Wu Zheyan (CEO), and three independent non-executive directors, with audit, risk management, remuneration, and nomination committees ensuring robust corporate governance - The Board of Directors comprises **2 executive directors** and **3 independent non-executive directors**[15](index=15&type=chunk)[16](index=16&type=chunk) - The company has an Audit Committee, Risk Management Committee, Remuneration Committee, and Nomination Committee, each chaired by an independent non-executive director[15](index=15&type=chunk)[16](index=16&type=chunk) [Company Information and Contacts](index=6&type=section&id=Company%20Information%20and%20Contacts) This section details key contact and administrative information including authorized representatives, auditors, legal advisors, principal bankers, registered office, Hong Kong principal place of business, China headquarters, share registrar, and official website - Authorized representatives are Mr. Wu Zheyan and Mr. Wong Wai Lun[17](index=17&type=chunk)[18](index=18&type=chunk) - The auditor is Albert International CPA Limited, and legal counsel is Hogan Lovells[17](index=17&type=chunk)[18](index=18&type=chunk) - Principal bankers include Agricultural Bank of China, China Construction Bank, and Bank of China Zhangping Branch[17](index=17&type=chunk)[18](index=18&type=chunk) Management Discussion and Analysis [Results of Operation](index=8&type=section&id=Results%20of%20Operation) For the six months ended June 30, 2025, the Group's revenue increased by 7.0% year-on-year to RMB 199.5 million, with gross profit margin significantly rising to 12.9% and gross profit reaching RMB 15.7 million 2025 H1 Operating Performance Overview | Indicator | 2025 H1 (RMB'000) | 2024 H1 (RMB'000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 199,500 | 186,500 | 7.0% | | Gross Profit Margin | 12.9% | 7.2% | +5.7pp | | Gross Profit | 15,700 | 13,400 | +17.2% | [Business Review](index=8&type=section&id=Business%20Review) The Group's core business segments include wood product manufacturing and sales, and renewable energy product manufacturing and sales; wood product revenue grew 6.8% with profit, while renewable energy revenue grew 34.1% but incurred a loss, with Australasia being a key growth driver - Core business segments are the production and sale of wood products and the production and sale of renewable energy products[26](index=26&type=chunk) [Segment Review](index=8&type=section&id=Segment%20Review) Wood product business remains the Group's primary revenue source, with revenue growing 6.8% to RMB 198.1 million and turning a profit of RMB 7.6 million from a loss in the prior period; renewable energy revenue grew 34.1% to RMB 1.4 million but recorded a loss of RMB 0.3 million Segment Revenue and Profit/(Loss) (For the six months ended June 30, 2025) | Segment | 2025 Revenue (RMB'000) | 2024 Revenue (RMB'000) | Revenue Change (%) | 2025 Profit/(Loss) (RMB'000) | 2024 Profit/(Loss) (RMB'000) | | :--- | :--- | :--- | :--- | :--- | :--- | | Wood Products | 198,090 | 185,431 | 6.8% | 7,588 | (609) | | Renewable Energy Products | 1,421 | 1,060 | 34.1% | (298) | 262 | | **Total** | **199,511** | **186,491** | **7.0%** | **7,290** | **(347)** | - The wood product business accounts for **99.3% of total revenue**, while the renewable energy business accounts for **0.7%**[26](index=26&type=chunk) - Global economic instability led to conservative customer purchasing, yet wood product revenue still saw slight growth[27](index=27&type=chunk) [Geographical Revenue Distribution](index=9&type=section&id=Geographical%20Revenue%20Distribution) During the period, the Australasian market was the Group's largest revenue source and achieved growth, while China market revenue significantly increased, and North America, Europe, and Asia Pacific (excluding China) saw decreased revenue Geographical Revenue Distribution (For the six months ended June 30, 2025) | Market | 2025 Revenue (RMB'000) | 2024 Revenue (RMB'000) | Change (%) | | :--- | :--- | :--- | :--- | | China | 41,300 | 15,125 | +172.0% | | North America | 8,749 | 20,357 | -57.0% | | Europe | 6,832 | 11,277 | -39.4% | | Asia Pacific (excluding China) | 2,175 | 3,928 | -44.6% | | Australasia | 140,455 | 135,804 | +3.4% | | **Total** | **199,511** | **186,491** | **7.0%** | - The Australasian market is the Group's largest revenue source, accounting for **70.4% of total revenue**[30](index=30&type=chunk) [Financial Review](index=10&type=section&id=Financial%20Review) The Group's financial performance significantly improved during the period, turning a loss into profit, primarily due to increased wood product sales, net foreign exchange gains, and reduced selling and distribution expenses and finance costs, despite lower other income and slightly increased administrative expenses; liquidity remains robust with increased cash and cash equivalents [Revenue](index=10&type=section&id=Revenue_FinancialReview) Wood product revenue remains the largest income source, growing 6.8% to RMB 198.1 million, driven by increased sales in Australasia; renewable energy business revenue grew 34.1% to RMB 1.4 million, but domestic market demand decreased Product Revenue (For the six months ended June 30, 2025) | Product | 2025 Revenue (RMB'000) | 2024 Revenue (RMB'000) | Change (%) | | :--- | :--- | :--- | :--- | | Wood Products | 198,090 | 185,431 | 6.8% | | Renewable Energy Products | 1,421 | 1,060 | 34.1% | | **Total** | **199,511** | **186,491** | **7.0%** | - Wood product revenue accounts for **99.3% of total sales**, primarily attributable to increased sales in the Australasian market[31](index=31&type=chunk) - Renewable energy business revenue increased, but domestic market demand decreased[32](index=32&type=chunk)[36](index=36&type=chunk) [Other Revenue](index=10&type=section&id=Other%20Revenue_FinancialReview) Other income significantly decreased by 56.2% to RMB 12.2 million during the period, primarily due to reduced bank deposit interest income Other Income (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | Change (%) | | :--- | :--- | :--- | :--- | | Other Income | 12,200 | 27,900 | -56.2% | | Primary Reason | Decrease in bank deposit interest income | | | [Other Net Gain/Loss](index=10&type=section&id=Other%20Net%20Gain_Loss) The Group recorded a net other gain of RMB 16.3 million during the period, primarily from net foreign exchange gains, contrasting with a loss in the prior period Other Net Gain/(Loss) (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Other Net Gain | 16,300 | (2,800) | | Primary Reason | Net foreign exchange gains | | [Selling and Distribution Expenses](index=10&type=section&id=Selling%20and%20Distribution%20Expenses) Selling and distribution expenses decreased by 39.1% to RMB 6.6 million during the period, primarily due to reduced sales personnel costs Selling and Distribution Expenses (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | Change (%) | | :--- | :--- | :--- | :--- | | Selling and Distribution Expenses | 6,600 | 10,800 | -39.1% | | Primary Reason | Decrease in sales personnel costs | | | [Administrative Expenses](index=11&type=section&id=Administrative%20Expenses) Administrative expenses slightly increased to RMB 18.4 million during the period, primarily due to higher research and development costs and corporate expenses Administrative Expenses (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Administrative Expenses | 18,400 | 18,000 | | Primary Reason | Increase in R&D costs and corporate expenses | | [Finance Costs](index=11&type=section&id=Finance%20Costs) Finance costs significantly decreased to approximately RMB 3.6 million, primarily due to bank loan interest payments Finance Costs (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | Change (%) | | :--- | :--- | :--- | :--- | | Finance Costs | 3,600 | 8,800 | -59.0% | | Primary Reason | Bank loan interest payments | | | [Dividend](index=11&type=section&id=Dividend_FinancialReview) The Board of Directors does not recommend paying any interim dividend for the six months ended June 30, 2025 - The Board of Directors does not recommend paying an interim dividend for the period[42](index=42&type=chunk)[48](index=48&type=chunk) [Profit for the Period](index=11&type=section&id=Profit%20for%20the%20Period) Considering the aforementioned factors, the Group recorded a profit of approximately RMB 8.8 million for the period, successfully reversing the loss from the prior period Profit/(Loss) for the Period (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Profit/(Loss) for the Period | 8,800 | (1,700) | [Liquidity and Capital Resources](index=11&type=section&id=Liquidity%20and%20Capital%20Resources) The Group primarily meets liquidity needs through operating cash flow and bank borrowings; as of June 30, 2025, current assets were RMB 535.4 million, cash and cash equivalents increased to RMB 33.8 million, and total utilized bank facilities were RMB 222.6 million - Working capital requirements are primarily met through operating cash flows and bank borrowings[44](index=44&type=chunk)[50](index=50&type=chunk) Liquidity and Capital Resources (As of June 30, 2025) | Indicator | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Current Assets | 535,400 | 550,700 | | Cash and Cash Equivalents | 33,800 | 27,200 | | Total Utilized Bank Facilities | 222,600 | 186,400 | [Pledge of Assets](index=12&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group pledged land use rights, buildings, and bank deposits, primarily to secure bank loans, derivative financial instruments, and bills payable - Land use rights, buildings, and bank deposits are pledged to secure bank loans, derivative financial instruments, and bills payable[51](index=51&type=chunk)[56](index=56&type=chunk) [Capital Expenditure](index=12&type=section&id=Capital%20Expenditure) During the period, the Group's total expenditure on property, plant, and equipment was RMB 3.0 million, with no such expenditure in the prior period Capital Expenditure (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Total Expenditure on Property, Plant and Equipment | 3,000 | 0 | [Capital Commitment and Contingent Liabilities](index=12&type=section&id=Capital%20Commitment%20and%20Contingent%20Liabilities) As of June 30, 2025, the Group had no significant capital commitments or contingent liabilities - As of June 30, 2025, the Group had no significant capital commitments or contingent liabilities[53](index=53&type=chunk)[58](index=58&type=chunk) [Significant Investment, Material Acquisitions and Disposals of Subsidiaries, Future Plans for Material Investments or Acquisition of Capital Assets](index=12&type=section&id=Significant%20Investment,%20Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries,%20Future%20Plans%20for%20Material%20Investments%20or%20Acquisition%20of%20Capital%20Assets) The company had no significant investments, acquisitions, or disposals of subsidiaries during the period; the Group currently has no major plans for capital asset investments or acquisitions but will continue to seek potential opportunities - No significant investments, acquisitions, or disposals of subsidiaries occurred during the period[54](index=54&type=chunk)[58](index=58&type=chunk) - There are currently no major plans for capital asset investments or acquisitions, but potential opportunities will be sought as development needs arise[54](index=54&type=chunk)[58](index=58&type=chunk) [Foreign Currency Risks](index=12&type=section&id=Foreign%20Currency%20Risks) The Group faces profit margin risks from RMB appreciation against USD and AUD, as sales are primarily denominated in USD/AUD while costs are in RMB; the Group manages exchange rate fluctuations through forward foreign currency contracts and matching cash flows - Sales are primarily denominated in USD, AUD, and RMB, while costs and operating expenses are mainly denominated in RMB[55](index=55&type=chunk)[59](index=59&type=chunk) - Appreciation of the RMB against the USD and AUD may impact profit margins[55](index=55&type=chunk)[59](index=59&type=chunk) - Foreign exchange risk is managed through forward foreign currency contracts and matching USD-denominated export sales with timber import cash flows[55](index=55&type=chunk)[59](index=59&type=chunk)[60](index=60&type=chunk) [Prospects](index=13&type=section&id=Prospects) The 2025 outlook for China's wood product exports is cautiously optimistic, driven by recovering global housing demand and cross-border e-commerce; however, new EU sustainability regulations, US tariffs, and Southeast Asian competition pose challenges; success hinges on shifting to sustainably certified production, high-value innovative products, and market diversification - The outlook for China's wood product exports in 2025 is cautiously optimistic[62](index=62&type=chunk)[64](index=64&type=chunk) - Growth drivers include recovering global housing demand and the development of cross-border e-commerce[62](index=62&type=chunk)[64](index=64&type=chunk) - Challenges include new EU sustainability regulations, ongoing US tariffs, and competition from Southeast Asian manufacturers[62](index=62&type=chunk)[64](index=64&type=chunk) - Strategic transformation focuses on sustainably certified production, high-value innovative products, and market diversification[62](index=62&type=chunk)[64](index=64&type=chunk) [Human Resources](index=14&type=section&id=Human%20Resources) As of June 30, 2025, the Group employed 288 staff, primarily in China and Hong Kong; the Group continuously enhances process automation, strengthens employee training, and offers competitive remuneration packages, discretionary bonuses, and social insurance contributions Number of Employees (As of June 30, 2025) | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Total Employees | 288 | 232 | - The Group maintains continuous employee development and enhances competitiveness by increasing process automation, strengthening staff training, and focusing on high-tech processing[65](index=65&type=chunk)[68](index=68&type=chunk) - Remuneration policy is based on individual employee performance, offering competitive compensation packages, discretionary bonuses, and social insurance contributions[65](index=65&type=chunk)[66](index=66&type=chunk)[68](index=68&type=chunk) [Events After the Reporting Period](index=14&type=section&id=Events%20After%20the%20Reporting%20Period) No significant events occurred for the Group after the reporting period - No significant events occurred for the Group after the reporting period[67](index=67&type=chunk)[69](index=69&type=chunk) Other Information [Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures](index=15&type=section&id=Directors'%20and%20Chief%20Executive's%20Interests%20and%20Short%20Positions%20in%20Shares,%20Underlying%20Shares%20and%20Debentures) As of June 30, 2025, executive directors Mr. Wu Zheyan and Ms. Xie Qingmei held interests in the company's shares, with Mr. Wu Zheyan holding a total of 22.2% through controlled corporations and as a beneficial owner, and Ms. Xie Qingmei holding 1.82% Directors' and Chief Executive's Interests in Shares (As of June 30, 2025) | Director Name | Capacity/Nature of Interest | Number of Shares | Approximate Percentage of Holding (%) | | :--- | :--- | :--- | :--- | | Mr. Wu Zheyan | Interest in controlled corporation/Long position | 8,992,948 | 9.76% | | | Beneficial owner/Long position | 11,459,540 | 12.44% | | Ms. Xie Qingmei | Beneficial owner/Long position | 1,675,068 | 1.82% | - Mr. Wu Zheyan is deemed to have an interest in the shares held by Green Seas Capital Limited, a company wholly owned by him[73](index=73&type=chunk) [Interests and Short Positions of the Substantial Shareholders in Shares and Underlying Shares of the Company](index=17&type=section&id=Interests%20and%20Short%20Positions%20of%20the%20Substantial%20Shareholders%20in%20Shares%20and%20Underlying%20Shares%20of%20the%20Company) As of June 30, 2025, besides the directors, the company's substantial shareholders include Green Seas Capital Limited, Hong Kong Chengkun Holdings Limited, Hong Kong Guoyuan Group Financial Holdings Limited, and Ms. Wu Baozhen, all holding over 8% of shares Substantial Shareholders' Interests in Shares (As of June 30, 2025) | Name/Entity | Capacity/Nature of Interest | Number of Shares | Approximate Percentage of Holding (%) | | :--- | :--- | :--- | :--- | | Green Seas Capital Limited | Beneficial owner/Long position | 8,992,948 | 9.76% | | Hong Kong Chengkun Holdings Limited | Beneficial owner/Long position | 8,292,000 | 8.99% | | Ms. Wang Xinyi | Interest in controlled corporation/Long position | 8,292,000 | 8.99% | | Hong Kong Guoyuan Group Financial Holdings Limited | Beneficial owner/Long position | 14,035,000 | 15.23% | | Shanghai Jingxun Industrial Equipment Holdings Limited | Interest in controlled corporation/Long position | 14,035,000 | 15.23% | | Mr. Wang Xin | Interest in controlled corporation/Long position | 14,035,000 | 15.23% | | Ms. Wu Baozhen | Beneficial owner/Long position | 9,730,000 | 10.56% | - Green Seas Capital Limited is wholly owned by Mr. Wu Zheyan[78](index=78&type=chunk) - Hong Kong Guoyuan Group Financial Holdings Limited is wholly owned by Shanghai Jingxun Industrial Equipment Holdings Limited, which is **98% owned** by Mr. Wang Xin[78](index=78&type=chunk) [Share Option Scheme](index=19&type=section&id=Share%20Option%20Scheme) The company adopted a share option scheme in 2012 to recognize and reward contributions from eligible participants; the scheme expired in 2022, and no share options have been granted since its effective date - The Share Option Scheme was adopted on June 15, 2012, to recognize and reward eligible participants' contributions to the Group[81](index=81&type=chunk)[83](index=83&type=chunk) - The maximum number of shares that can be granted is **10% of the total issued shares** upon completion of the global offering, amounting to **100,000,000 shares**[81](index=81&type=chunk)[83](index=83&type=chunk) - The scheme expired in 2022, and no share options have been granted since its effective date[86](index=86&type=chunk)[89](index=89&type=chunk) [Share Award Scheme](index=21&type=section&id=Share%20Award%20Scheme) The company adopted a share award scheme in 2020 to align eligible persons' interests with the Group and encourage long-term contributions; total awarded shares do not exceed 20% of issued shares; awards were granted in 2020, 2021, and 2024, with a new 2025 scheme proposed on August 8, 2025 - The Share Award Scheme was adopted on December 14, 2020, to align eligible persons' interests with the Group and encourage their long-term contributions[90](index=90&type=chunk)[95](index=95&type=chunk) - The total number of awarded shares shall not exceed **20% of the total issued shares** (i.e., **741,200,400 shares**)[91](index=91&type=chunk)[95](index=95&type=chunk) - On April 15, 2024, **3,900,000 award shares** were granted to **7 employees**, with a vesting period of **12 months**[99](index=99&type=chunk)[100](index=100&type=chunk) - On August 8, 2025, the company proposed adopting the 2025 Share Award Scheme, valid for ten years, to be satisfied by allotting new shares and/or acquiring existing shares in the market, subject to shareholder approval[109](index=109&type=chunk)[110](index=110&type=chunk)[113](index=113&type=chunk) [Interim Dividend](index=24&type=section&id=Interim%20Dividend) The Board of Directors resolved not to declare any interim dividend for the six months ended June 30, 2025 - The Board of Directors resolved not to declare an interim dividend for the period[112](index=112&type=chunk)[114](index=114&type=chunk) [Compliance with the Corporate Governance Code](index=25&type=section&id=Compliance%20with%20the%20Corporate%20Governance%20Code) The company complied with Corporate Governance Code principles during the period and up to the report date, with explained deviations from C.5.1 (board meeting frequency) and D.1.2 (monthly updates to all directors) - The company complies with the Corporate Governance Code principles, but deviates from **Code Provision C.5.1** and **D.1.2**[115](index=115&type=chunk)[119](index=119&type=chunk) - The deviation from C.5.1 is because the Board only held two regular meetings, with other matters handled by written resolutions or ad-hoc meetings[116](index=116&type=chunk)[119](index=119&type=chunk) - The deviation from D.1.2 is due to monthly updates being conducted on-site at the China factory, which not all directors could receive[118](index=118&type=chunk)[120](index=120&type=chunk) [Model Code for Securities Transactions by Directors](index=26&type=section&id=Model%20Code%20for%20Securities%20Transactions%20by%20Directors) The company adopted the Model Code as the code of conduct for directors' securities transactions, and all directors confirmed compliance with its provisions during the period - The company has adopted the Model Code as the code of conduct for directors' securities transactions[121](index=121&type=chunk)[124](index=124&type=chunk) - All directors confirmed compliance with the required standards set out in the Model Code during the period[121](index=121&type=chunk)[124](index=124&type=chunk) [Audit Committee](index=26&type=section&id=Audit%20Committee) The company's Audit Committee reviewed the Group's adopted accounting principles and policies with management, discussed audit, internal control, and financial reporting matters, and reviewed the unaudited interim financial report for the period - The Audit Committee has reviewed the Group's accounting principles and policies, and discussed audit, internal control, and financial reporting matters[122](index=122&type=chunk)[125](index=125&type=chunk) - The Audit Committee has reviewed the unaudited interim financial report for the period[122](index=122&type=chunk)[125](index=125&type=chunk) [Purchase, Sale and Redemption of Listed Securities](index=26&type=section&id=Purchase,%20Sale%20and%20Redemption%20of%20Listed%20Securities) Neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the period and up to the report date - Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the period and up to the report date[123](index=123&type=chunk)[126](index=126&type=chunk) Consolidated Statement of Profit or Loss – Unaudited [Consolidated Statement of Profit or Loss Summary](index=27&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20Summary) For the six months ended June 30, 2025, the Group's revenue grew 7.0% to RMB 199.5 million, gross profit increased to RMB 15.7 million; profit for the period reached RMB 8.8 million, reversing the prior period's loss, with basic and diluted earnings per share of RMB 0.0950 Key Data from Consolidated Statement of Profit or Loss (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Revenue | 199,511 | 186,491 | | Cost of Sales | (183,762) | (173,110) | | Gross Profit | 15,749 | 13,381 | | Other Income | 12,202 | 27,883 | | Other Net Gain/(Loss) | 16,323 | (2,817) | | Selling and Distribution Expenses | (6,604) | (10,839) | | Administrative Expenses | (18,449) | (17,986) | | Expected Credit Loss (Provision)/Reversal for Financial Assets | (8,051) | (2,000) | | Operating Profit/(Loss) | 11,170 | 7,622 | | Finance Costs | (3,625) | (8,804) | | Profit/(Loss) Before Tax | 7,545 | (1,182) | | Income Tax Credit | 1,207 | (533) | | Profit/(Loss) for the Period | 8,752 | (1,715) | | Earnings/(Loss) Per Share Basic and Diluted (RMB) | 0.0950 | (0.0183) | - Profit for the period was **RMB 8,752 thousand**, a significant improvement from a loss of **RMB 1,715 thousand** in the prior period[127](index=127&type=chunk) - Basic and diluted earnings per share were **RMB 0.0950**, compared to a loss per share of **RMB 0.0183** in the prior period[127](index=127&type=chunk) Consolidated Statement of Profit or Loss and Other Comprehensive Income – Unaudited [Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary](index=28&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income%20Summary) For the six months ended June 30, 2025, the Group's profit for the period was RMB 8.8 million, and with other comprehensive income (primarily from exchange differences on translating foreign operations' financial statements and fair value changes of equity investments), total comprehensive income for the period reached RMB 12.5 million Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Profit/(Loss) for the Period | 8,752 | (1,715) | | Exchange differences on translating foreign operations' financial statements | 3,597 | 6,017 | | Fair value changes of equity investments | 176 | – | | Total Comprehensive Income for the Period | 12,525 | 4,302 | - Total comprehensive income for the period was **RMB 12,525 thousand**, a significant increase from **RMB 4,302 thousand** in the prior period[129](index=129&type=chunk) Consolidated Statement of Financial Position – Unaudited [Consolidated Statement of Financial Position Summary](index=29&type=section&id=Consolidated%20Statement%20of%20Financial%20Position%20Summary) As of June 30, 2025, the Group's total assets less current liabilities were RMB 1,012.1 million, and net assets were RMB 887.4 million; total current assets were RMB 788.9 million, total current liabilities were RMB 253.5 million, and net current assets were RMB 535.4 million Key Data from Consolidated Statement of Financial Position (As of June 30, 2025) | Indicator | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Total Non-current Assets | 476,733 | 452,599 | | Total Current Assets | 788,936 | 758,229 | | Total Current Liabilities | 253,544 | 207,483 | | Total Non-current Liabilities | 124,744 | 128,489 | | Net Assets | 887,381 | 874,856 | | Total Equity | 887,381 | 874,856 | - Cash and cash equivalents increased from **RMB 27.2 million** as of December 31, 2024, to **RMB 33.8 million** as of June 30, 2025[131](index=131&type=chunk) - The portion of interest-bearing bank borrowings (secured) repayable within one year or on demand increased from **RMB 66.4 million** as of December 31, 2024, to **RMB 106.2 million** as of June 30, 2025[131](index=131&type=chunk) Consolidated Statement of Changes in Equity – Unaudited [Consolidated Statement of Changes in Equity Summary](index=31&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity%20Summary) For the six months ended June 30, 2025, total equity attributable to equity holders increased from RMB 874.9 million on January 1, 2025, to RMB 887.4 million, primarily driven by profit for the period of RMB 8.8 million and other comprehensive income of RMB 3.8 million Key Data from Consolidated Statement of Changes in Equity (For the six months ended June 30, 2025) | Indicator | January 1, 2025 (RMB'000) | June 30, 2025 (RMB'000) | | :--- | :--- | :--- | | Share Capital | 38,462 | 38,462 | | Share Premium | 695,243 | 695,243 | | Exchange Reserve | 31,690 | 35,287 | | Statutory Reserve | 55,107 | 55,107 | | Fair Value Reserve (Non-recyclable) | (5,882) | (5,706) | | Retained Profits | 60,236 | 68,988 | | **Total Attributable to Equity Holders of the Company** | **874,856** | **887,381** | - Profit for the period of **RMB 8,752 thousand** and other comprehensive income of **RMB 3,773 thousand** contributed to the equity growth[135](index=135&type=chunk) Consolidated Cash Flow Statement – Unaudited [Consolidated Cash Flow Statement Summary](index=33&type=section&id=Consolidated%20Cash%20Flow%20Statement%20Summary) For the six months ended June 30, 2025, the Group reported net cash outflow from operating activities of RMB 6.2 million, net cash outflow from investing activities of RMB 28.1 million, and net cash inflow from financing activities of RMB 40.8 million; cash and cash equivalents increased by RMB 6.5 million to RMB 33.8 million at period-end Key Data from Consolidated Cash Flow Statement (For the six months ended June 30, 2025) | Activity Type | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Net Cash (Used in)/Generated from Operating Activities | (6,188) | 20,811 | | Net Cash Used in Investing Activities | (28,089) | (76,011) | | Net Cash Generated from Financing Activities | 40,766 | 36,296 | | Net Increase/(Decrease) in Cash and Cash Equivalents | 6,489 | (18,904) | | Cash and Cash Equivalents at June 30 | 33,767 | 13,615 | - Cash flow from operating activities shifted from a net inflow in the prior period to a **net outflow** in the current period[137](index=137&type=chunk) - Net cash outflow from investing activities significantly decreased, primarily due to reduced fixed deposits and pledged deposits[137](index=137&type=chunk) Notes to the Unaudited Interim Financial Report [Basis of Preparation](index=35&type=section&id=Basis%20of%20Preparation) This interim financial report is prepared in accordance with HKEX Listing Rules and IAS 34, authorized for issue by the Board, adopting the same accounting policies as the 2024 annual financial statements, and includes explanations for changes in financial position and performance - This interim financial report is prepared in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and International Accounting Standard 34[140](index=140&type=chunk)[145](index=145&type=chunk) - The report adopts the same accounting policies as the 2024 annual financial statements, except for changes in accounting policies expected to be reflected in the 2025 annual financial statements[141](index=141&type=chunk)[145](index=145&type=chunk) - The 2024 annual financial statements have been filed with the Registrar of Companies, and the auditor's report contained no qualified opinion[144](index=144&type=chunk)[146](index=146&type=chunk)[147](index=147&type=chunk)[148](index=148&type=chunk) [Changes in Accounting Policies](index=36&type=section&id=Changes%20in%20Accounting%20Policies) Certain IFRS amendments issued by the IASB became effective for the first time in this accounting period but had no significant impact on the Group's current or prior period results and financial position; the Group has not early adopted any new standards or interpretations not yet effective - The International Accounting Standards Board has issued several amendments to International Financial Reporting Standards, which became effective for the Group for the first time in the current accounting period[149](index=149&type=chunk)[151](index=151&type=chunk) - These standard changes had no significant impact on how the Group's current or prior period results and financial position are prepared or presented in this interim financial report[149](index=149&type=chunk)[151](index=151&type=chunk) [Revenue](index=36&type=section&id=Revenue_Notes) The Group's primary business is manufacturing and selling outdoor wood products and renewable energy products; total revenue for the period was RMB 199.5 million, with wood products accounting for the majority; revenue is classified by major geographical markets (China, North America, Europe, Asia Pacific, Australasia) and product type, recognized upon product transfer - The Group's principal activities are the production and sale of outdoor wood products and the production and sale of renewable energy products[150](index=150&type=chunk)[151](index=151&type=chunk) Revenue from Contracts with Customers (For the six months ended June 30, 2025) | Product | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Sale of outdoor wood products | 198,090 | 185,431 | | Sale of renewable energy products | 1,421 | 1,060 | | **Total** | **199,511** | **186,491** | - Revenue is disaggregated by major geographical markets (China, North America, Europe, Asia Pacific, Australasia) and major products (wood products, renewable energy products)[155](index=155&type=chunk)[158](index=158&type=chunk) [Segment Reporting](index=39&type=section&id=Segment%20Reporting) The Group has two reportable segments: manufacturing and selling wood products, and manufacturing and selling renewable energy products; the wood product segment is the primary revenue source and achieved profit, while the renewable energy segment recorded a loss; geographically, Australasia is the largest source of external customer revenue - The Group has identified two reportable segments: the production and sale of wood products, and the production and sale of renewable energy products[159](index=159&type=chunk)[162](index=162&type=chunk) Reportable Segment Revenue and Profit/(Loss) (For the six months ended June 30, 2025) | Segment | 2025 External Customer Revenue (RMB'000) | 2025 Segment Profit/(Loss) (RMB'000) | | :--- | :--- | :--- | | Wood Products | 198,090 | 7,588 | | Renewable Energy Products | 1,421 | (298) | | **Total** | **199,511** | **7,290** | - Australasia is the largest source of external customer revenue, amounting to **RMB 140.5 million** in 2025[173](index=173&type=chunk) [Seasonality of Operations](index=43&type=section&id=Seasonality%20of%20Operations) The Group's operations are not significantly affected by seasonal fluctuations, and sales revenue recorded in both the first and second halves of the financial year are not impacted by seasonality - The Group's operations are not significantly affected by seasonal fluctuations[174](index=174&type=chunk) [Other Revenue and Other Net Gain/Loss](index=44&type=section&id=Other%20Revenue%20and%20Other%20Net%20Gain_Loss_Notes) Other income decreased to RMB 12.2 million during the period, primarily due to reduced bank deposit interest income; concurrently, the Group recorded a net other gain of RMB 16.3 million, mainly from net exchange gains Other Income (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Bank deposit interest income | 9,537 | 26,849 | | Government subsidies | – | 284 | | Others | 2,665 | 750 | | **Total** | **12,202** | **27,883** | Other Net Gain/(Loss) (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Net exchange gains/(losses) | 16,302 | (2,074) | | Fair value changes of derivative financial instruments | 4 | (744) | | Others | 17 | 1 | | **Total** | **16,323** | **(2,817)** | - Unconditional government subsidies were **zero** in 2025, compared to **RMB 284 thousand** in 2024[175](index=175&type=chunk) [Profit/Loss Before Taxation](index=45&type=section&id=Profit_Loss%20Before%20Taxation) Profit/loss before taxation is calculated considering finance costs and other items; finance costs significantly decreased, while inventory costs, depreciation of property, plant and equipment, investment property depreciation, and R&D costs were major expense items Finance Costs (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Interest expense on bank loans and bonds | 3,623 | 8,804 | | Interest on lease liabilities | 2 | – | | **Total** | **3,625** | **8,804** | Other Items (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Cost of inventories | 183,762 | 173,110 | | Depreciation of property, plant and equipment | 13,028 | 15,660 | | Depreciation of investment properties | 1,451 | 960 | | Research and development costs | 4,435 | 5,410 | [Income Tax in the Consolidated Statement of Profit or Loss](index=46&type=section&id=Income%20Tax%20in%20the%20Consolidated%20Statement%20of%20Profit%20or%20Loss) The Group is exempt from income tax in the Cayman Islands and BVI, with no Hong Kong profits tax provision; Chinese subsidiary Zhangping Kimura enjoys preferential high-tech enterprise tax rates, some small enterprise subsidiaries benefit from preferential rates for low-profit small enterprises, and Australian subsidiaries are subject to a 30% statutory tax rate Income Tax in the Consolidated Statement of Profit or Loss (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Current tax - Corporate income tax | – | 533 | | Deferred tax credit | (1,207) | – | | **Total** | **(1,207)** | **533** | - The Group is not subject to income tax in the Cayman Islands and British Virgin Islands, and no provision for Hong Kong profits tax has been made[180](index=180&type=chunk) - Chinese subsidiary Zhangping Kimura enjoys a preferential income tax rate for high-tech enterprises, and some small enterprise subsidiaries benefit from effective preferential tax rates ranging from **2.5% to 10%**[180](index=180&type=chunk)[181](index=181&type=chunk) [Earnings/Loss Per Share](index=47&type=section&id=Earning_Loss%20Per%20Share) For the six months ended June 30, 2025, basic and diluted earnings per share were RMB 0.0950, calculated based on profit attributable to equity holders of RMB 8,752,000 and a weighted average of 92,137,051 issued shares Earnings/(Loss) Per Share (For the six months ended June 30, 2025) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Profit/(Loss) attributable to equity holders of the Company (RMB'000) | 8,752 | (1,715) | | Weighted average number of issued shares | 92,137,051 | 92,137,051 | | Basic and diluted earnings/(loss) per share (RMB) | 0.0950 | (0.0183) | [Property, Plant and Equipment](index=48&type=section&id=Property,%20Plant%20and%20Equipment) For the six months ended June 30, 2025, the Group incurred costs of RMB 2,982,000 for the acquisition of plant and machinery, with no such expenditure in the prior period Acquisition Cost of Property, Plant and Equipment (For the six months ended June 30, 2025) | Indicator | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Acquisition cost of plant and machinery | 2,982 | – | [Inventories](index=48&type=section&id=Inventories) As of June 30, 2025, the Group's total inventories were RMB 114.5 million, primarily comprising raw materials and work-in-progress; no inventory write-downs occurred during the period or the prior period Inventory Composition (As of June 30, 2025) | Inventory Category | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Raw materials | 66,162 | 38,107 | | Work-in-progress | 45,605 | 57,211 | | Finished goods | 2,771 | 28,334 | | **Total** | **114,538** | **123,652** | - No inventory write-downs occurred for the six months ended June 30, 2025, and 2024[190](index=190&type=chunk) [Trade and Other Receivables](index=49&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, the Group's total trade and other receivables were RMB 190.7 million; net trade receivables were RMB 70.0 million, and total prepayments for raw materials and other receivables were RMB 120.7 million; trade receivables aging analysis shows most are due within 3 months Trade and Other Receivables (As of June 30, 2025) | Category | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Total trade receivables (net of loss allowance) | 70,001 | 77,394 | | Prepayments for raw materials | 80,066 | 44,068 | | Total prepayments and other receivables (net of loss allowance) | 120,679 | 79,615 | | **Total** | **190,680** | **157,009** | Aging Analysis of Trade Receivables (As of June 30, 2025) | Aging | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Within 1 month | 22,362 | 25,036 | | 1 to 2 months | 24,722 | 20,556 | | 2 to 3 months | 22,415 | 20,650 | | Over 3 months | 502 | 11,152 | | **Total** | **70,001** | **77,394** | - Trade receivables and bills receivable are generally due within **90 to 180 days** from the invoice date[196](index=196&type=chunk)[198](index=198&type=chunk) [Pledged Deposits](index=50&type=section&id=Pledged%20Deposits) Deposits pledged to banks have been used as collateral for bank financing and financial derivative instruments issued by banks to the Group - Deposits pledged to banks have been used as collateral for bank financing and financial derivative instruments issued by banks to the Group[197](index=197&type=chunk)[199](index=199&type=chunk) [Cash and Cash Equivalents](index=51&type=section&id=Cash%20and%20Cash%20Equivalents) As of June 30, 2025, the Group's cash and cash equivalents totaled RMB 33,767,000, primarily comprising cash at bank and in hand Cash and Cash Equivalents (As of June 30, 2025) | Category | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Cash at bank and in hand | 33,767 | 27,200 | [Trade and Other Payables](index=51&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, the Group's total trade and other payables were RMB 109.6 million; trade payables and bills payable were RMB 77.4 million, with most due within 1 month; other payables and accrued expenses primarily include salaries, wages, bonuses, and payables for property, plant, and equipment purchases Trade and Other Payables (As of June 30, 2025) | Category | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Trade payables and bills payable | 77,353 | 85,309 | | Other payables and accrued expenses | 31,871 | 27,080 | | Provision for medical compensation | 3,855 | 4,000 | | Less: Non-current portion of provision for medical compensation | (3,510) | (3,610) | | **Total** | **109,569** | **112,779** | Maturity Analysis of Trade Payables (As of June 30, 2025) | Aging | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Within 1 month | 59,607 | 27,330 | | 1 to 2 months | 12,794 | 12,969 | | 2 to 3 months | 370 | 13,963 | | Over 3 months | 4,582 | 31,047 | | **Total** | **77,353** | **85,309** | - All the above balances are expected to be settled within one year or on demand[204](index=204&type=chunk) [Contract Liabilities](index=52&type=section&id=Contract%20Liabilities) Contract liabilities represent the aggregate transaction price allocated to unsatisfied performance obligations at the reporting period end, primarily advance payments received for wood product sales; as of June 30, 2025, contract liabilities increased by RMB 13.3 million, mainly due to increased advance payments for sales - Contract liabilities represent advance payments received from customers for goods not yet transferred, primarily including advance payments for wood product sales[206](index=206&type=chunk)[207](index=207&type=chunk)[208](index=208&type=chunk) Changes in Contract Liabilities (As of June 30, 2025) | Indicator | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | As at January 1 | 12,805 | 7,675 | | Cash received in advance for performance obligations not yet satisfied during the year | 26,124 | 12,632 | | **As at June 30/December 31** | **26,124** | **12,805** | - Contract liabilities increased by **RMB 13,319 thousand**, primarily due to increased advance payments for sales[207](index=207&type=chunk)[208](index=208&type=chunk) [Interest-Bearing Bank Borrowings, Secured](index=54&type=section&id=Interest-Bearing%20Bank%20Borrowings,%20Secured) As of June 30, 2025, the Group's total interest-bearing bank borrowings were RMB 222.6 million, with RMB 106.2 million repayable within one year or on demand, and RMB 116.4 million repayable between one and two years Maturity Analysis of Interest-Bearing Bank Borrowings (As of June 30, 2025) | Maturity Date | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Within one year or on demand | 106,150 | 66,400 | | Over one year but not exceeding two years | 116,400 | 120,000 | | **Total** | **222,550** | **186,400** | [Capital, Reserves and Dividends](index=54&type=section&id=Capital,%20Reserves%20and%20Dividends) The Board does not recommend an interim dividend; regarding share capital, award shares were granted in 2021, a share consolidation occurred in 2024, and 3,900,000 award shares were granted to employees in April 2024; no award shares were granted for the six months ended June 30, 2025; fair value reserve (non-recyclable) includes net cumulative changes in fair value of equity investments - The Board of Directors does not recommend paying an interim dividend for the six months ended June 30, 2025[215](index=215&type=chunk) - In 2021, a total of **66,618,016 award shares** were granted to **13 selected participants** under the Share Award Scheme[216](index=216&type=chunk)[217](index=217&type=chunk) - On January 2, 2024, a share consolidation became effective, where every **ten shares of HK$0.05** each were consolidated into **one share of HK$0.5**[222](index=222&type=chunk) - On April 15, 2024, **3,900,000 award shares** were granted to **7 employees**, with a vesting period of **12 months**[223](index=223&type=chunk) - No award shares were granted for the six months ended June 30, 2025[224](index=224&type=chunk) [Fair Value Measurement of Financial Instruments](index=57&type=section&id=Fair%20Value%20Measurement%20of%20Financial%20Instruments) As of June 30, 2025, the Group's derivative financial instrument assets and liabilities were zero, accounted for at fair value, classified as Level 2 under IFRS 13; Level 2 fair value measurements utilize valuation techniques such as discounted contractual forward prices - As of June 30, 2025, the Group's derivative financial instrument assets and liabilities were **zero**, accounted for at fair value, and classified as **Level 2** in the fair value hierarchy[227](index=227&type=chunk)[231](index=231&type=chunk) - Level 2 fair value measurements utilize valuation techniques such as discounted contractual forward prices and deducting current spot rates[229](index=229&type=chunk)[231](index=231&type=chunk) - There is no material difference between the carrying amounts and fair values of the Group's financial instruments accounted for at cost or amortized cost[233](index=233&type=chunk)[237](index=237&type=chunk) [Commitments](index=58&type=section&id=Commitments) As of June 30, 2025, there were no unprovided and outstanding capital commitments within these consolidated financial statements - As of June 30, 2025, the Group had no unprovided and outstanding capital commitments[234](index=234&type=chunk)[238](index=238&type=chunk) [Material Related Party Transactions](index=58&type=section&id=Material%20Related%20Party%20Transactions) The Group entered into material related party transactions during the reporting period, including amounts due from an associate (Green Seas Capital Limited) and amounts due to a director; key management personnel compensation also increased Amounts Due from an Associate (As of June 30, 2025) | Counterparty Name | Relationship | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | :--- | | Green Seas Capital Limited | Private company controlled by Mr. Wu Zheyan (a director of the Company) | 71 | 72 | Amounts Due to a Director (As of June 30, 2025) | Category | June 30, 2025 (RMB'000) | December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Amount due to a director | 7,822 | 10,781 | Key Management Personnel Compensation (For the six months ended June 30, 2025) | Category | 2025 (RMB'000) | 2024 (RMB'000) | | :--- | :--- | :--- | | Short-term employee benefits | 2,823 | 730 | | Contributions to retirement schemes | 32 | 2 | | **Total** | **2,855** | **732** |

Group 1 - The company expects to record a net profit attributable to shareholders of approximately RMB 9 million for the six months ending June 30, 2025, compared to a net loss of RMB 1.7 million for the same period ending June 30, 2024 [1] - The turnaround to profitability is primarily due to the recognition of foreign exchange gains of approximately RMB 16 million for the six months ending June 30, 2025 [1]

Group 1 - The company expects to record a net profit attributable to shareholders of approximately RMB 9 million for the six months ending June 30, 2025, compared to a net loss of RMB 1.7 million for the same period ending June 30, 2024 [1] - The turnaround to profitability is primarily due to the recognition of foreign exchange gains of approximately RMB 16 million for the six months ending June 30, 2025 [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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 由於本公司仍在落實截至二零二五年六月三十日止之中期業績，本公告所載資料 為本公司管理層依據本公司之未經審核管理賬目及現有資料所作之初步評估。此 初步評估並非依據經本公司核數師或審核委員會審核、核實或審閱之任何財務數 據及╱或資料而作出。本公司預期將於二零二五年八月刊發本公司截至二零二五 年六月三十日止之中期業績公告。 1 本公司股東及有意投資者於買賣本公司股份時務請審慎行事。 CHINA ENVIRONMENTAL TECHNOLOGY AND BIOENERGY HOLDINGS LIMITED 中科生物控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1237） 正面盈利預告 扭虧為盈 本公告乃由中科生物控股有限公司（「本公司」與其附屬公司統稱「本集團」）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條及香港法例第571 章證券及期貨條例第XIVA部項下之內幕消息條文（ ...