Core Viewpoint - Junzhi Group (01300.HK) reported a revenue of RMB 1.236 billion for the six months ending June 30, 2025, representing a year-on-year increase of 6.61% [1] Financial Performance - Revenue reached RMB 1.236 billion, up 6.61% year-on-year [1] - Gross profit was RMB 140 million, down 2% year-on-year [1] - Profit attributable to owners decreased to RMB 24.9555 million, a decline of 39% year-on-year [1] - Basic earnings per share were RMB 0.014 [1]

TRIGIANT GROUP LIMITED 俊知集團有限公司 董事會提名委員會權責範圍及程序 Terms of reference of the Nomination Committee of the Board of Directors Trigiant Group Limited ("Company") 俊知集團有限公司("本公司") Terms of reference of the Nomination Committee ("NC") of the Board of Directors ("Board") of the Company 董事會("董事會") 提名委員會("提委會") 權責範圍及程序 First adoption date: 1 March 2012 首次採納日期: 2012 年 3 月 1 日 Last amendment effective date: 27 August 2025 最新修訂生效日期: 2025 年 8 月 27 日 1. Membership 成員 1.1 The NC shall comprise not less than three members to ...

Summary Trigiant Group Limited's H1 2025 interim results show 6.6% revenue growth, a 1.0 percentage point gross margin decline to 11.3%, a 38.9% profit decrease, and no interim dividend H1 2025 vs. H1 2024 Performance Comparison | Metric | H1 2025 (RMB) | H1 2024 (RMB) | Change (RMB) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 1,235.6 million | 1,159.0 million | Increase 76.6 million | 6.6% | | Gross Margin | 11.3% | 12.3% | Decrease 1.0 percentage point | - | | Profit for the Period | 25.0 million | 40.9 million | Decrease 15.9 million | -38.9% | | Net Profit Margin | 2.0% | 3.5% | Decrease 1.5 percentage points | - | | EPS | 1.40 fen | 2.28 fen | Decrease 0.88 fen | - | | Interim Dividend | Not Recommended | N/A | - | - | [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section provides the condensed consolidated financial statements, detailing the company's financial performance and position for the reporting period [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) H1 2025 revenue grew, but gross profit declined, and profit for the period significantly decreased to RMB 24,955 thousand, impacted by lower other income and increased credit losses Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (Thousand RMB) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Revenue | 1,235,594 | 1,159,039 | | Cost of Sales | (1,095,888) | (1,016,820) | | Gross Profit | 139,706 | 142,219 | | Other Income | 4,281 | 16,482 | | Impairment Losses under ECL Model | (17,822) | (7,493) | | Profit Before Tax | 30,775 | 50,738 | | Income Tax Expense | (5,820) | (9,862) | | Profit for the Period | 24,955 | 40,876 | | Basic EPS | RMB 1.40 fen | RMB 2.28 fen | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, non-current assets slightly decreased, current assets increased, current borrowings rose, non-current borrowings significantly decreased, and both net assets and total equity grew Condensed Consolidated Statement of Financial Position (Thousand RMB) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 135,271 | 140,915 | | Deferred Tax Assets | 160,939 | 158,233 | | **Current Assets** | | | | Trade and Other Receivables | 4,091,350 | 4,111,480 | | Bank Balances and Cash | 554,701 | 464,418 | | **Current Liabilities** | | | | Trade and Other Payables | 158,041 | 146,669 | | Borrowings | 1,491,018 | 1,418,327 | | **Non-current Liabilities** | | | | Borrowings | – | 61,000 | | **Net Assets** | 3,533,584 | 3,512,902 | | **Total Equity** | 3,533,584 | 3,512,902 | [Notes](index=4&type=section&id=Notes) This section provides detailed notes to the condensed consolidated financial statements, covering accounting policies, segment information, income, expenses, and financial position items [Basis of Preparation](index=4&type=section&id=Basis%20of%20Preparation) The condensed consolidated financial statements are prepared in accordance with HKAS 34 'Interim Financial Reporting' and applicable Listing Rules disclosure requirements - Financial statements are prepared in accordance with HKAS 34 and the Listing Rules[6](index=6&type=chunk) [Principal Accounting Policies](index=4&type=section&id=Principal%20Accounting%20Policies) The condensed consolidated financial statements are prepared on a historical cost basis, with accounting policies consistent with the 2024 annual financial statements, and HKFRS amendments had no significant impact - Accounting policies are consistent with the 2024 annual financial statements, prepared principally on a historical cost basis[7](index=7&type=chunk) - The application of amendments to HKFRS accounting standards (HKAS 21 (Amendment) Lack of Exchangeability) had no significant impact on the financial position and performance for the current and prior periods[8](index=8&type=chunk) [Revenue and Segment Information](index=5&type=section&id=Revenue%20and%20Segment%20Information) The Group manufactures and sells mobile communication and telecommunication transmission products, recognizing revenue upon transfer of control, with reportable segments categorized by product type - The principal business involves the manufacture and sale of mobile communication and telecommunication transmission products, with revenue recognized when control of goods is transferred[9](index=9&type=chunk) - The chief operating decision maker identifies reportable segments by product, including feeder cable series, flame retardant soft cable series, optical cable series and related products, new electronic components, and others[10](index=10&type=chunk)[12](index=12&type=chunk) [Segment Revenue and Results Analysis](index=6&type=section&id=Segment%20Revenue%20and%20Results%20Analysis) H1 2025 saw increased external sales for flame retardant soft cables and optical cables, offset by declines in feeder cables and new electronic components, leading to a slight overall segment result decrease H1 2025 Revenue and Results by Reportable Segment (Thousand RMB) | Segment | External Sales | Segment Results | | :--- | :--- | :--- | | Feeder Cable Series | 511,628 | 60,343 | | Flame Retardant Soft Cable Series | 570,640 | 56,672 | | Optical Cable Series and Related Products | 98,764 | 13,290 | | New Electronic Components | 52,761 | 9,068 | | Others | 1,801 | 333 | | **Total** | **1,235,594** | **139,706** | H1 2024 Revenue and Results by Reportable Segment (Thousand RMB) | Segment | External Sales | Segment Results | | :--- | :--- | :--- | | Feeder Cable Series | 542,802 | 67,763 | | Flame Retardant Soft Cable Series | 462,293 | 45,861 | | Optical Cable Series and Related Products | 84,713 | 12,422 | | New Electronic Components | 55,312 | 9,810 | | Others | 13,919 | 6,363 | | **Total** | **1,159,039** | **142,219** | [Geographical Information](index=7&type=section&id=Geographical%20Information) The Group's predominant revenue and non-current assets are derived from and located within the People's Republic of China - The vast majority of revenue and non-current assets are derived from China[16](index=16&type=chunk) [Other Income](index=8&type=section&id=Other%20Income) Other income for H1 2025 significantly decreased by 74.0% to RMB 4,281 thousand, primarily due to the cessation of VAT credit benefits and reduced interest income Other Income (Thousand RMB) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Government Subsidies | 1,322 | 1,639 | | Interest Income | 2,445 | 4,972 | | VAT Credit Benefits | – | 9,356 | | Others | 514 | 515 | | **Total** | **4,281** | **16,482** | - Other income decreased by **74.0%** year-on-year, mainly due to the cessation of VAT credit benefits and a decline in interest income[17](index=17&type=chunk) [Impairment Losses under Expected Credit Loss Model](index=8&type=section&id=Impairment%20Losses%20under%20Expected%20Credit%20Loss%20Model) Impairment losses on trade receivables for H1 2025 increased by 137.8% to RMB 17,822 thousand, reflecting higher credit risk Impairment Losses on Trade Receivables (Thousand RMB) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Impairment Losses on Trade Receivables | (17,822) | (7,493) | - Impairment losses on trade receivables increased by **137.8%** year-on-year to **RMB 17,822 thousand**[18](index=18&type=chunk) [Profit Before Tax](index=9&type=section&id=Profit%20Before%20Tax) Profit before tax for H1 2025 was RMB 30,775 thousand, a decrease from RMB 50,738 thousand in the prior year, influenced by inventory costs, depreciation, exchange losses, and impairment losses Components of Profit Before Tax (Thousand RMB) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Cost of Inventories Recognized as an Expense | 1,094,758 | 1,013,872 | | Depreciation of Property, Plant and Equipment (Net) | 2,433 | 3,462 | | Exchange (Losses) Gains | (406) | 496 | | Profit Before Tax | 30,775 | 50,738 | [Income Tax Expense](index=9&type=section&id=Income%20Tax%20Expense) Income tax expense for H1 2025 decreased by 41.0% to RMB 5,820 thousand, mainly due to increased deferred tax credits related to impairment losses on trade receivables, with some PRC subsidiaries enjoying a 15% preferential income tax rate as high-tech enterprises Income Tax Expense (Thousand RMB) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | PRC Enterprise Income Tax | 7,977 | 9,487 | | Deferred Tax (Credit) / Expense | (2,157) | 375 | | **Income Tax Expense for the Period** | **5,820** | **9,862** | - Trigiant Technology, Trigiant Optic-electronic, and Trigiant Sensor are recognized as high-tech enterprises, enjoying a **15%** preferential PRC income tax rate[21](index=21&type=chunk) - Deferred tax liabilities for undistributed earnings of PRC subsidiaries are accrued at a **10%** withholding tax rate[22](index=22&type=chunk) [Dividends](index=10&type=section&id=Dividends) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the prior corresponding period - The Board does not recommend the payment of an interim dividend for H1 2025[23](index=23&type=chunk) [Earnings Per Share](index=10&type=section&id=Earnings%20Per%20Share) Basic earnings per share for H1 2025 was RMB 1.40 fen, a decrease from RMB 2.28 fen in the prior year, primarily due to reduced profit for the period Earnings Per Share Calculation (Thousand RMB) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Profit for the Period Attributable to Owners of the Company for Basic EPS | 24,955 | 40,876 | | Number of Shares (Thousands) | 1,782,000 | 1,793,000 | | Basic EPS | RMB 1.40 fen | RMB 2.28 fen | - Diluted earnings per share is not presented as there were no issued potential ordinary shares for both periods[24](index=24&type=chunk) [Trade and Other Receivables](index=11&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables were RMB 4,091,350 thousand, slightly lower than year-end 2024, with increased credit loss provisions for trade receivables and a high proportion of balances over 365 days, indicating long-term receivable risk Trade and Other Receivables Analysis (Thousand RMB) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Trade Receivables from Customer Contracts | 5,175,671 | 5,177,196 | | Less: Provision for Credit Losses | (1,091,820) | (1,073,998) | | **Net Trade Receivables** | **4,083,851** | **4,103,198** | | Ageing of Trade Receivables (Over 365 Days) | 2,147,110 | 2,225,292 | | Total Trade and Other Receivables | 4,091,350 | 4,111,480 | - The Group generally grants credit terms of **180 to 360 days** to its customers[25](index=25&type=chunk) [Trade and Other Payables](index=12&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables were RMB 158,041 thousand, an increase from year-end 2024, with trade payables primarily concentrated in the 0 to 90-day ageing bracket, indicating shorter supplier credit terms Trade and Other Payables Analysis (Thousand RMB) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Trade Payables (0 to 90 Days) | 85,994 | 77,602 | | Total Trade Payables | 101,278 | 91,446 | | Accrued Expenses | 13,468 | 12,260 | | Deposits from Suppliers | 14,234 | 13,159 | | Other Payables | 10,075 | 9,909 | | Other Tax Payables | 6,890 | 3,044 | | Salaries and Welfare Payables | 11,871 | 16,753 | | **Total** | **158,041** | **146,669** | - The Group typically obtains credit terms of **30 to 90 days** from its suppliers[27](index=27&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's market performance, operational results, strategic initiatives, and financial position for the reporting period [Market Review](index=13&type=section&id=Market%20Review) In H1 2025, despite global economic challenges, China's economy showed resilience with 5.3% GDP growth, driving demand for communication equipment through accelerated 5G and AI investments, with the Group actively deploying 5G small cell transmission solutions and securing multiple centralized procurement projects - In H1 2025, China's GDP grew by **5.3%**, exceeding the annual target of **5%**, with deepening digital economy development[28](index=28&type=chunk)[29](index=29&type=chunk) - As of end-June 2025, China's total **5G base stations reached 4.55 million**, with **5G mobile phone users at 1.118 billion**, and a penetration rate exceeding **79%**[30](index=30&type=chunk) - **5G-Advanced (5G-A)** entered large-scale deployment, with over **300 cities** covered by 5G-A networks and over **10 million users**[29](index=29&type=chunk) - The Group launched several millimeter-wave new products, including **37–42 GHz phase shifters** and **40–50 GHz quadruplers**, solidifying its technological leadership[32](index=32&type=chunk) - The low-altitude logistics market is projected to reach **RMB 120 billion to RMB 150 billion** by 2025, and the Group will continue to monitor and explore business opportunities[33](index=33&type=chunk) - The Group secured multiple centralized procurement projects, including China Unicom optical cables, China Mobile optical splitters, feeder connectors and bundled jumpers, feeder products, and China Tower power cables (copper cables)[34](index=34&type=chunk)[35](index=35&type=chunk) [Performance Analysis](index=15&type=section&id=Performance%20Analysis) In H1 2025, the Group's revenue increased by 6.6% year-on-year to RMB 1,235.6 million, driven by growth in flame retardant soft cable and optical cable series, however, profit for the period decreased by 38.9% to RMB 25.0 million, and EPS fell to RMB 1.40 fen - In H1 2025, revenue increased by **6.6%** to **RMB 1,235.6 million**[36](index=36&type=chunk) - Profit for the period decreased by **38.9%** to **RMB 25.0 million**, and EPS fell to **RMB 1.40 fen**[36](index=36&type=chunk) [Revenue by Product Type](index=15&type=section&id=Revenue%20by%20Product%20Type) Revenue from flame retardant soft cable series and optical cable series and related products grew by 23.4% and 16.6% respectively, offsetting declines in feeder cable series, new electronic components, and other accessories Revenue by Product Type (Thousand RMB) | Product Series | H1 2025 | H1 2024 | Year-on-Year Change (Thousand RMB) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | :--- | | Feeder Cable Series | 511,628 | 542,802 | (31,174) | –5.7% | | Flame Retardant Soft Cable Series | 570,640 | 462,293 | 108,347 | 23.4% | | Optical Cable Series and Related Products | 98,764 | 84,713 | 14,051 | 16.6% | | New Electronic Components | 52,761 | 55,312 | (2,551) | –4.6% | | Other Accessories | 1,801 | 13,919 | (12,118) | –87.1% | | **Total** | **1,235,594** | **1,159,039** | **76,555** | **6.6%** | [Feeder Cable Series](index=15&type=section&id=Feeder%20Cable%20Series) Revenue from feeder cable series decreased by 5.7% year-on-year to RMB 511.6 million, accounting for approximately 41.4% of total revenue, with sales volume declining and gross margin falling by 0.7 percentage points to 11.8% due to telecom operators' capital expenditure controls - Revenue from feeder cable series decreased by **5.7%** year-on-year to **RMB 511.6 million**, accounting for approximately **41.4%** of total revenue[38](index=38&type=chunk) - Sales volume decreased by approximately **2,300 kilometers** to approximately **42,600 kilometers**[38](index=38&type=chunk) - Gross margin decreased by approximately **0.7 percentage points** to approximately **11.8%**, affected by global telecom operators' capital expenditure controls[38](index=38&type=chunk) [Flame Retardant Soft Cable Series](index=16&type=section&id=Flame%20Retardant%20Soft%20Cable%20Series) Revenue from flame retardant soft cable series increased by 23.4% year-on-year to RMB 570.6 million, representing approximately 46.2% of total revenue, with gross margin maintained at approximately 9.9% - Revenue from flame retardant soft cable series increased by **23.4%** year-on-year to **RMB 570.6 million**, accounting for approximately **46.2%** of total revenue[39](index=39&type=chunk) - Gross margin remained at approximately **9.9%**[39](index=39&type=chunk) [Optical Cable Series and Related Products](index=16&type=section&id=Optical%20Cable%20Series%20and%20Related%20Products) Revenue from optical cable series and related products increased by 16.6% year-on-year to RMB 98.8 million, accounting for approximately 8.0% of total revenue, with sales volume increasing but gross margin declining by 1.2 percentage points to 13.5% due to product mix changes - Revenue from optical cable series and related products increased by **16.6%** year-on-year to **RMB 98.8 million**, accounting for approximately **8.0%** of total revenue[40](index=40&type=chunk) - Optical cable sales volume increased by approximately **922,000 core kilometers** to approximately **2,496,000 core kilometers**[40](index=40&type=chunk) - Gross margin decreased by approximately **1.2 percentage points** to approximately **13.5%**, primarily due to changes in product mix[40](index=40&type=chunk) [Major Customers and Sales Network](index=16&type=section&id=Major%20Customers%20and%20Sales%20Network) The Group is a major supplier to China's three largest telecom operators (China Mobile, China Unicom, China Telecom) and telecom equipment manufacturers, with H1 2025 revenue from China Mobile, China Unicom, and China Telecom accounting for 47.5%, 22.8%, and 18.5% of total revenue, respectively - Major customers include China's three largest telecom operators (China Mobile, China Unicom, China Telecom) and telecom equipment manufacturers such as ZTE and Huawei[41](index=41&type=chunk) Major Customers Revenue Contribution (H1 2025) | Customer | Revenue Contribution | | :--- | :--- | | China Mobile | Approx. 47.5% | | China Unicom | Approx. 22.8% | | China Telecom | Approx. 18.5% | - Supplied to **31 provincial subsidiaries** of China Tower[41](index=41&type=chunk) [Market Strategy](index=17&type=section&id=Market%20Strategy) The Group's market strategy involves leveraging financing cost advantages, actively supporting China's telecom industry development, focusing on R&D in telecom business, and building customer trust through quality, while prudently managing overseas receivables and planning to expand sales channels in the 5G era - Market strategy includes leveraging financing cost advantages, supporting China's telecom industry development, focusing on R&D in telecom business, and winning customer trust through quality[42](index=42&type=chunk) - Approximately **90%** of annual sales come from China's three major telecom operators and China Tower[42](index=42&type=chunk) - Generally grants credit terms of **180 to 360 days** to customers, leading to longer accounts receivable turnover days[42](index=42&type=chunk) - Handles overseas sales receivables very prudently and plans to expand sales channels in the 5G era[42](index=42&type=chunk) [Patents, Awards and Recognition](index=18&type=section&id=Patents,%20Awards%20and%20Recognition) As of June 30, 2025, the Group had obtained 287 patents in China, including 123 invention patents and 164 utility model patents, with the company and its subsidiaries receiving numerous industry awards and recognitions, such as ranking first in feeder cable sales and being designated as a National Enterprise Technology Center - As of June 30, 2025, the Group had obtained **287 China patents** (**123 invention patents**, **164 utility model patents**)[43](index=43&type=chunk) - Trigiant Technology has ranked first among Chinese feeder cable manufacturers for many consecutive years[44](index=44&type=chunk) - Trigiant Technology was recognized as a National Enterprise Technology Center and received the Jiangsu Manufacturing Outstanding Contribution Award, while Trigiant Optic-electronic was recognized as a Jiangsu Provincial Enterprise Technology Center[44](index=44&type=chunk) - Trigiant Technology and Trigiant Optic-electronic were rated **AAA (Comprehensive Credit)** credit rating[44](index=44&type=chunk) [Outlook and Future Plans](index=18&type=section&id=Outlook%20and%20Future%20Plans) Looking ahead to H2 2025, while the global economy faces uncertainties, China's economy is expected to maintain steady growth, with accelerated deployment of 10-gigabit optical networks and 5G-A, prompting the Group to increase R&D in 5G and 6G, strategically position in millimeter-wave, and deepen overseas market presence to capitalize on industry upgrades and global 5G deployment opportunities - The World Bank forecasts global GDP growth to be revised down to **2.3%** in 2025, with China's growth forecast maintained at **4.5%**[43](index=43&type=chunk) - The Chinese government will increase support for the real economy, expand infrastructure investment, boost domestic demand, and support digital economy transformation[43](index=43&type=chunk) - China officially launched pilot deployments of 10-gigabit optical networks, with the Chinese cable industry market size expected to exceed **RMB 1.6 trillion** by 2027[45](index=45&type=chunk) [Accelerated 5G-A Deployment, 6G Driving Next Round of Industrial Upgrades](index=19&type=section&id=Accelerated%205G-A%20Deployment,%206G%20Driving%20Next%20Round%20of%20Industrial%20Upgrades) The global communication industry is in a critical transition from 5G to 6G, with 5G-A technology offering comprehensive upgrades in capacity, speed, and latency, expected to support trillion-level IoT applications, and the Group is continuously increasing R&D investment in 5G and 6G related fields to prepare for future technological iterations - The global communication equipment market size is projected to exceed **USD 680 billion** by 2030, with the Asia-Pacific region accounting for over **45%**, and China contributing over **50%** of global production capacity[46](index=46&type=chunk) - **5G-A** offers comprehensive upgrades in capacity, speed, latency, reliability, and positioning accuracy compared to 5G, expected to support trillion-level IoT applications[46](index=46&type=chunk) - China's **5G penetration rate is expected to reach 88% by 2030**, with the scope of 5G-A network pilot cities gradually expanding, projected to cover over **300 cities nationwide by 2025**[47](index=47&type=chunk) - The Group continues to increase R&D investment in 5G and 6G related fields, including composite insulated corrugated outer conductor super flexible RF coaxial cables for 5G communication and ultra-low latency optical cables for intelligent computing center cluster networks[48](index=48&type=chunk) [Strategic Layout in Millimeter Wave, Creating New Growth Curve](index=20&type=section&id=Strategic%20Layout%20in%20Millimeter%20Wave,%20Creating%20New%20Growth%20Curve) Millimeter wave, as a crucial frequency band for 5G-A and future 6G, is becoming a focal point for technological competition and industrial investment, with China having approved the first batch of 5G millimeter wave industry standards, and the Group proactively deploying related technologies and innovating products, expecting millimeter wave business to be a core driver for revenue structure upgrades - Millimeter wave, as a crucial frequency band for **5G-A** and future **6G**, has seen China approve the first batch of **5G millimeter wave industry standards**[49](index=49&type=chunk) - The Group has proactively deployed **5G millimeter wave related technologies** and is developing products such as improved **50GHz band passive double-balanced mixers** for 5G millimeter wave applications[49](index=49&type=chunk)[50](index=50&type=chunk) - Millimeter wave business is expected to become a core driver for the Group's revenue structure upgrade, characterized by high technical barriers and network utilization efficiency[50](index=50&type=chunk) [Deepening Overseas Market Presence, Expanding Global Growth Momentum](index=21&type=section&id=Deepening%20Overseas%20Market%20Presence,%20Expanding%20Global%20Growth%20Momentum) The Group is actively expanding its overseas markets, focusing on customers with bulk demand and promoting customized product solutions, enhancing brand influence through international exhibitions, and prioritizing the maintenance and expansion of "Belt and Road" country clients, with self-developed ultra-high temperature flame retardant special RF coaxial cables for the Korean market expected to be a significant growth source - Actively expanding overseas markets, focusing on customers with bulk demand, and promoting customized product solutions[51](index=51&type=chunk) - Participated in international exhibitions such as Singapore Asia Tech x Singapore, US IMS Microwave Technology Show, and Indonesia Jakarta Communication Exhibition, enhancing international brand recognition[51](index=51&type=chunk) - Prioritizes maintaining and expanding clients in "Belt and Road" countries, such as Thailand and South Korea[51](index=51&type=chunk) - Self-developed ultra-high temperature flame retardant special RF coaxial cables for the Korean market are expected to gradually replace existing aluminum cable products in the local market, becoming a significant source of growth[51](index=51&type=chunk) [Flexible Capital Strategy, Enhancing Shareholder Value](index=22&type=section&id=Flexible%20Capital%20Strategy,%20Enhancing%20Shareholder%20Value) In H1 2025, the Group conducted 15 share repurchases, totaling 15,570,000 shares for HKD 4,616,730, demonstrating management's confidence in the company's long-term value and effectively increasing net asset value per share, with the Board authorized for future share issuance or repurchase to maximize shareholder interests - In H1 2025, **15 repurchases** were conducted, totaling **15,570,000 shares** for a total consideration of **HKD 4,616,730**[52](index=52&type=chunk) - Repurchase actions effectively boosted market sentiment, increased stock trading activity, and enhanced net asset value per share[52](index=52&type=chunk) - The Board has been granted a general mandate by shareholders for share issuance or repurchase[52](index=52&type=chunk) [Financial Review](index=22&type=section&id=Financial%20Review) This section provides a detailed review of the changes in various financial indicators for H1 2025, where revenue growth was driven by flame retardant soft cable and optical cable series, but gross profit and gross margin declined due to telecom operators' capital expenditure controls, other income significantly decreased due to the cessation of VAT credit benefits, and impairment losses increased, while R&D and finance costs decreased, ultimately leading to a 38.9% reduction in profit for the period [Revenue](index=22&type=section&id=Revenue) In H1 2025, revenue increased by 6.6% to RMB 1,235.6 million, primarily driven by growth in flame retardant soft cable series and optical cable series and related products, partially offset by declines in feeder cable series, other accessories, and new electronic components - Revenue increased by approximately **RMB 76.6 million** or **6.6%** to approximately **RMB 1,235.6 million**[53](index=53&type=chunk) - Primarily due to increased revenue from flame retardant soft cable series and optical cable series and related products, partially offset by decreased revenue from feeder cable series, other accessories, and new electronic components[53](index=53&type=chunk) [Cost of Sales](index=22&type=section&id=Cost%20of%20Sales) Cost of sales increased by 7.8% year-on-year to RMB 1,095.9 million, mainly influenced by a 4.2% rise in metal raw material prices such as copper, with the Group's feeder cable products priced on a cost-plus basis to manage raw material price risk - Cost of sales increased by approximately **RMB 79.1 million** or **7.8%** to approximately **RMB 1,095.9 million**[54](index=54&type=chunk) - Prices of metal raw materials such as copper increased by **4.2%** compared to H1 2024[54](index=54&type=chunk) - Feeder cable series products are priced on a cost-plus basis to control raw material price risk[54](index=54&type=chunk) [Gross Profit and Gross Margin](index=23&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit decreased by 1.8% year-on-year to RMB 139.7 million, with the overall gross margin declining from 12.3% to 11.3%, primarily due to global telecom operators' capital expenditure controls - Gross profit decreased by approximately **RMB 2.5 million** or **1.8%** to approximately **RMB 139.7 million**[55](index=55&type=chunk) - Overall gross margin decreased from approximately **12.3%** to approximately **11.3%**[55](index=55&type=chunk) - The decline in gross margin was primarily due to global telecom operators' capital expenditure controls[55](index=55&type=chunk) [Other Income](index=23&type=section&id=Other%20Income) Other income significantly decreased by 74.0% year-on-year to RMB 4.3 million, mainly due to the cessation of VAT credit benefits and reduced interest income - Other income decreased by approximately **RMB 12.2 million** or **74.0%** to approximately **RMB 4.3 million**[56](index=56&type=chunk) - The decrease was primarily due to the cessation of VAT credit benefits and a reduction in interest income during the period[56](index=56&type=chunk) [Impairment Losses](index=23&type=section&id=Impairment%20Losses) Impairment losses on trade receivables (net of reversal) increased by 137.8% year-on-year to RMB 17.8 million, primarily due to a slight increase in the ageing of trade receivables - Impairment losses on trade receivables increased by approximately **RMB 10.3 million** or approximately **137.8%** to approximately **RMB 17.8 million**[57](index=57&type=chunk) - Primarily due to a slight increase in the ageing of trade receivables in H1 2025[57](index=57&type=chunk) [Other Gains and Losses](index=23&type=section&id=Other%20Gains%20and%20Losses) H1 2025 recorded other losses of approximately RMB 400 thousand, compared to gains of approximately RMB 500 thousand in the prior year, mainly due to a shift from exchange gains to exchange losses - H1 2025 recorded other losses of approximately **RMB 400 thousand**, while H1 2024 recorded other gains of approximately **RMB 500 thousand**[58](index=58&type=chunk) - Primarily due to a shift from exchange gains to exchange losses[58](index=58&type=chunk) [Selling and Distribution Costs](index=23&type=section&id=Selling%20and%20Distribution%20Costs) Selling and distribution costs slightly increased by 0.9% year-on-year to RMB 26.0 million - Selling and distribution costs slightly increased by approximately **RMB 200 thousand** or **0.9%** to approximately **RMB 26.0 million**[59](index=59&type=chunk) [Administrative Expenses](index=24&type=section&id=Administrative%20Expenses) Administrative expenses decreased by 0.4% year-on-year to RMB 21.0 million, primarily due to reduced office expenses - Administrative expenses decreased by approximately **RMB 100 thousand** or **0.4%** to approximately **RMB 21.0 million**[60](index=60&type=chunk) - Primarily due to a decrease in office expenses[60](index=60&type=chunk) [Research and Development Costs](index=24&type=section&id=Research%20and%20Development%20Costs) Research and development costs decreased by 8.9% year-on-year to RMB 26.4 million, primarily influenced by the progress of research projects - Research and development costs decreased by approximately **RMB 2.6 million** or **8.9%** to approximately **RMB 26.4 million**[61](index=61&type=chunk) - Primarily influenced by the progress of research projects[61](index=61&type=chunk) [Finance Costs](index=24&type=section&id=Finance%20Costs) Finance costs decreased by 14.1% year-on-year to RMB 21.5 million, primarily due to a decrease in the average interest rate of borrowings - Finance costs decreased by approximately **RMB 3.5 million** or **14.1%** to approximately **RMB 21.5 million**[62](index=62&type=chunk) - Primarily due to a decrease in the average interest rate of borrowings[62](index=62&type=chunk) [Taxation](index=24&type=section&id=Taxation) Income tax expense decreased by 41.0% year-on-year to RMB 5.8 million, primarily due to increased deferred tax credits related to impairment losses on trade receivables - Income tax expense decreased by approximately **RMB 4.0 million** or **41.0%** to approximately **RMB 5.8 million**[63](index=63&type=chunk) - The decrease was primarily due to an increase in deferred tax credits related to impairment losses on trade receivables[63](index=63&type=chunk) [Profit for the Period](index=24&type=section&id=Profit%20for%20the%20Period) Profit for the period decreased by 38.9% year-on-year to RMB 25.0 million, with the net profit margin declining from 3.5% to 2.0%, reflecting the combined impact of multiple unfavorable factors - Profit for the period decreased by approximately **RMB 15.9 million** or approximately **38.9%** to approximately **RMB 25.0 million**[64](index=64&type=chunk) - Net profit margin decreased from approximately **3.5%** to approximately **2.0%**[64](index=64&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=24&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) The Group's working capital primarily originates from shareholders' equity, internally generated cash flow, and borrowings, with H1 2025 net cash generated from operating activities at RMB 316.5 million and an increase in bank balances and cash, while net borrowings stood at RMB 1,491.0 million, mainly denominated in RMB, with no foreign currency hedging policy - Working capital primarily originates from shareholders' equity, internally generated cash flow, and borrowings[65](index=65&type=chunk) Cash Flow Summary (Thousand RMB) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 316,548 | 409,350 | | Net Cash Generated from Investing Activities | 20,711 | 35,342 | | Net Cash Used in Financing Activities | (246,976) | (404,732) | - As of June 30, 2025, bank balances and cash, and pledged bank deposits amounted to approximately **RMB 625.1 million**[67](index=67&type=chunk) - Net borrowings amounted to approximately **RMB 1,491.0 million**, of which approximately **RMB 1,103.0 million** were bank borrowings and approximately **RMB 391.2 million** were bill financing arrangements[67](index=67&type=chunk) - The Group has no foreign currency hedging policy[68](index=68&type=chunk) [Gearing Ratio](index=25&type=section&id=Gearing%20Ratio) As of June 30, 2025, the gearing ratio slightly decreased to 24.5%, primarily influenced by an increase in bank balances and cash - The gearing ratio slightly decreased from approximately **26.3%** as of December 31, 2024, to approximately **24.5%** as of June 30, 2025[69](index=69&type=chunk) - The decrease was primarily influenced by an increase in bank balances and cash in H1 2025[69](index=69&type=chunk) [Pledged Assets](index=25&type=section&id=Pledged%20Assets) As of June 30, 2025, the Group had pledged bank deposits of approximately RMB 70.4 million as collateral for credit facilities and performance guarantees - As of June 30, 2025, pledged bank deposits amounted to approximately **RMB 70.4 million**[70](index=70&type=chunk) [Contingent Liabilities](index=26&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[71](index=71&type=chunk) [Employee Information](index=26&type=section&id=Employee%20Information) As of June 30, 2025, the Group employed approximately 800 employees, an increase from 684 at year-end 2024, with remuneration based on performance, experience, and industry practice, and investment in continuous education and training programs - As of June 30, 2025, the Group employed approximately **800 employees** (December 31, 2024: 684 employees)[72](index=72&type=chunk) - Remuneration policy is based on employee performance, experience and industry practice, and is reviewed annually[72](index=72&type=chunk) - Investment in continuous education and training programs for management and other employees[72](index=72&type=chunk) [Interim Dividend](index=26&type=section&id=Interim%20Dividend) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[73](index=73&type=chunk) [Corporate Governance and Other Information](index=26&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section outlines the Group's corporate governance practices, securities transactions by directors, audit committee review, and publication details [Corporate Governance](index=26&type=section&id=Corporate%20Governance) The Company has adopted the Corporate Governance Code set out in Appendix C1 Part 2 of the Listing Rules, and has complied with its provisions where applicable, except for the roles of Chairman and Chief Executive Officer being held by the same individual - The Company has adopted the Corporate Governance Code set out in Appendix C1 Part 2 of the Listing Rules[74](index=74&type=chunk) - The roles of Chairman and Chief Executive Officer are performed by Mr. Qian Lirong, deviating from the requirement of Code Provision C.2.1[74](index=74&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=27&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) For the six months ended June 30, 2025, the Company further repurchased a total of 15,570,000 ordinary shares on the Stock Exchange for a total consideration of HKD 4,616,730, aiming to boost market confidence, increase net asset value per share, and create shareholder value, with the repurchased shares not yet cancelled as of the announcement date - For the six months ended June 30, 2025, the Company repurchased a total of **15,570,000 ordinary shares** for a total consideration of **HKD 4,616,730**[75](index=75&type=chunk) H1 2025 Share Repurchase Details | Month | Number of Shares Repurchased | Highest Price Paid (HKD) | Lowest Price Paid (HKD) | | :--- | :--- | :--- | :--- | | January 2025 | 4,280,000 | 0.31 | 0.3 | | March 2025 | 1,882,000 | 0.305 | 0.305 | | April 2025 | 7,386,000 | 0.305 | 0.275 | | May 2025 | 118,000 | 0.305 | 0.3 | | June 2025 | 1,904,000 | 0.325 | 0.305 | - As of the announcement date, the total of **19,000,000 repurchased shares** have not yet been cancelled[75](index=75&type=chunk) [Model Code for Securities Transactions by Directors](index=27&type=section&id=Model%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company has adopted the Model Code set out in Appendix C3 of the Listing Rules as the code of conduct for directors' dealings in the Company's securities, and all directors have confirmed compliance with the Model Code for the six months ended June 30, 2025 - The Company has adopted the Model Code set out in Appendix C3 of the Listing Rules[77](index=77&type=chunk) - All directors have confirmed compliance with the Model Code for the six months ended June 30, 2025[77](index=77&type=chunk) [Audit Committee](index=28&type=section&id=Audit%20Committee) The Company has established an Audit Committee responsible for reviewing and monitoring the Group's financial reporting process, internal control, and risk management systems, with its H1 2025 interim results reviewed by the Committee and independent auditor Deloitte Touche Tohmatsu - The Audit Committee is responsible for reviewing and monitoring the Group's financial reporting process, internal control, and risk management systems[78](index=78&type=chunk) - The Audit Committee members include Ms. Qiu Hui (Chairperson), Professor Jin Xiaofeng, and Mr. Zhao Huanqi[78](index=78&type=chunk) - The Group's H1 2025 interim results have been reviewed by the Audit Committee and by independent auditor Deloitte Touche Tohmatsu[78](index=78&type=chunk) [Publication of Interim Results and Interim Report](index=28&type=section&id=Publication%20of%20Interim%20Results%20and%20Interim%20Report) This interim results announcement has been published on the Stock Exchange website and the Company's website, and the interim report for the six months ended June 30, 2025, will be dispatched to shareholders and published on both websites in due course - This interim results announcement has been published on the Stock Exchange website (www.hkexnews.hk) and the Company's website (www.trigiant.com.hk)[79](index=79&type=chunk) - The interim report will be dispatched to shareholders and published on the Stock Exchange and the Company's website in due course[79](index=79&type=chunk) [Board of Directors](index=29&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors comprises Mr. Qian Lirong (Chairman and Group CEO) and Mr. Qian Chenhui as Executive Directors, Mr. Zhang Dongjie as Non-executive Director, and Ms. Qiu Hui, Professor Jin Xiaofeng, and Mr. Zhao Huanqi as Independent Non-executive Directors - Executive Directors: Mr. Qian Lirong (Chairman and Group CEO), Mr. Qian Chenhui[82](index=82&type=chunk) - Non-executive Director: Mr. Zhang Dongjie[82](index=82&type=chunk) - Independent Non-executive Directors: Ms. Qiu Hui, Professor Jin Xiaofeng, Mr. Zhao Huanqi[82](index=82&type=chunk)

Group 1 - The company, Junzhi Group (01300.HK), expects to record a profit of approximately RMB 25 million for the first half of 2025, which represents a decrease of about 38.9% compared to the unaudited profit of approximately RMB 40.9 million for the six months ending June 30, 2024 [1]

俊 知 集 團 有 限 公 司 * （ 於開曼群島註冊成立的有限公司） （股份代號：1300） 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 備 性 亦無 發 表 任 何 聲明 ， 並 明 確 表示 概 不 就 因本 公 佈 全部 或 任 何 部 分內 容 而 產 生或 因 依 賴 該 等內 容 引 致 的 任何 損 失 承 擔任 何責任。 TRIGIANT GROUP LIMITED 代表董事會 俊知集團有限公司 財務資料更新 本公佈乃俊知集團有限公司（「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證券上市規則（「上市規則」）第13.09條及內幕消 息條文（ 定義見上市規則 ）之規定而作出。 本公司 董事會（「董事會」）謹此知 會本公司股 東及有意 投資者， 據董事會對 本公司截至2025年6月30日止六個月（「2025年上半年」）未經審核綜合管理賬 目 所 作 初 步評 估 及 本 公 司 目 前可 取 得 資 訊 顯 示 ，本 公 司 預 期 本 集 團2025年 上 半 ...

Group 1 - The company, Junzhi Group (01300.HK), announced that it will hold a board meeting on August 27, 2025, to consider and approve its unaudited consolidated results for the six months ending June 30, 2025 [1] - The board meeting will also consider the declaration of an interim dividend, if deemed appropriate, along with other matters [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 本通 告 的 內 容概 不 負 責， 對 其 準 確 性或 完 備 性 亦無 發 表 任 何 聲明 ， 並 明 確 表示 概 不 就 因本 通 告 全部 或 任 何 部 分內 容 而 產 生或 因 依 賴 該 等內 容 引 致 的 任何 損 失 承 擔任 何責任。 TRIGIANT GROUP LIMITED 俊 知 集 團 有 限 公 司 * （ 於開曼群島註冊成立的有限公司） （股份代號：1300） 於本通告日期，董事會由以下成員組成： 承董事會命 俊知集團有限公司 主席 錢利榮 香港，2025年8月12日 董事會會議通告 俊 知 集 團 有 限 公 司（「 本 公 司 」）董 事 會（「 董 事 會 」）謹 此 宣 佈 ， 本 公 司 將 於 2025年8月27日（ 星期三 ）舉行董事會會議，藉以考慮及批准本公司及其附屬 公司（ 統稱「本集團」）截至2025年6月30日止六個月的未經審核綜合業績以及 考慮宣派中期股息（ 如有 ）及本集團其他事項（ 如認為適合 ）。 | 錢利榮先生 | 主席及集團行政總裁 | 執行 ...

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：香港交易及結算所有限公司 公司名稱: 俊知集團有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01300 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000,0 ...

Summary of Key Points Core Viewpoint - On June 18, 35 Hong Kong-listed companies conducted share buybacks, totaling 26.35 million shares and an aggregate amount of HKD 938 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 990,000 shares for HKD 501 million, with a highest price of HKD 510.00 and a lowest price of HKD 503.50, bringing its total buyback amount for the year to HKD 32.54 billion [1][2]. - AIA Group repurchased 5.21 million shares for HKD 354 million, with a highest price of HKD 68.65 and a lowest price of HKD 67.70, totaling HKD 13.64 billion in buybacks for the year [1][2]. - Techtronic Industries repurchased 250,000 shares for HKD 21.77 million, with a highest price of HKD 87.60 and a lowest price of HKD 86.60, totaling HKD 99.37 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on June 18 was from Tencent Holdings at HKD 501 million, followed by AIA Group at HKD 354 million [1][2]. - In terms of share quantity, the most shares repurchased on June 18 were by Pacific Basin Shipping at 6 million shares, followed by AIA Group and COSCO Shipping at 5.21 million and 5 million shares, respectively [1][2].

6月3日港股公司回购一览 腾讯控股回购数量99.40万股，回购金额5.00亿港元，回购最高价为505.000港元，最低价为501.000港 元，年内累计回购金额270.31亿港元；友邦保险回购数量600.00万股，回购金额4.03亿港元，回购最高 价为67.650港元，最低价为66.550港元，年内累计回购金额114.12亿港元；快手-W回购数量200.00万 股，回购金额1.02亿港元，回购最高价为51.350港元，最低价为50.950港元，年内累计回购金额19.11亿 港元。 以金额进行统计，6月3日回购金额最多的是腾讯控股，回购金额为5.00亿港元；其次是友邦保险，回购 金额为4.03亿港元；回购金额居前的还有快手-W、恒安国际等。回购数量上看，6月3日回购股数最多 的是友邦保险，当日回购量为600.00万股；其次是中远海发、有赞等，回购数量分别为462.70万股、 200.00万股。 值得关注的是，非凡领越本次回购为年内首次进行回购。本次回购5.00亿港元的腾讯控股，年内则进行 多次回购，合计回购金额为270.31亿港元。（数据宝） 证券时报·数据宝统计显示，6月3日有40家香港上市公司进行了股份回购 ...