目錄 2 公司資料 4 業務及財務摘要 5 簡明綜合損益及其他全面收入表 7 簡明綜合財務狀況表 9 簡明綜合權益變動表 11 簡明綜合現金流量表 12 簡明綜合財務資料附註 23 管理層討論與分析 29 其他資料 公司資料 董事會 執行董事 梁鵬程先生（主席） 劉江濤先生（聯席主席） 符展成先生（行政總裁） 王君友先生 鄧立鳴先生 雷志軍先生 非執行董事 黃顯榮先生（於二零二五年七月二十九日調任） 獨立非執行董事 陳進思先生 蘇玲女士 審核委員會 黃顯榮先生（委員會主席） 陳進思先生 蘇玲女士 薪酬委員會 陳進思先生（委員會主席） 黃顯榮先生 符展成先生 提名委員會 梁鵬程先生（委員會主席） 雷志軍先生 陳進思先生 黃顯榮先生 蘇玲女士 投資委員會 劉江濤先生（委員會主席） 梁鵬程先生 符展成先生 王君友先生 雷志軍先生 授權代表 符展成先生 余詠詩女士 監察主任 符展成先生 公司秘書 余詠詩女士 註冊辦事處 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands | 二零二五年中期報告 | 思城控股有 ...

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: | 思城控股有限公司 | | | | 呈交日期: | 2025年9月1日 | | | 第 2 頁 共 10 頁 v 1.1.1 FF301 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) | 01486 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | ...

Group 1 - The core point of the article is that Siheng Holdings (01486.HK) reported a revenue of HKD 181,969,000 for the six months ending June 30, 2025, which represents a decrease of 11.8% compared to the same period last fiscal year [1] - The company achieved a profit of HKD 51,331,000 during the period, contrasting with a loss of HKD 12,074,000 in the same period last year [1]

Core Insights - The company, Siheng Holdings (01486), reported a mid-year performance for 2025, with revenues of approximately HKD 182 million, reflecting a year-on-year decrease of 11.8% [1] - The profit attributable to shareholders for the period was HKD 50.825 million, marking a turnaround from a loss to profit compared to the previous year [1] - Basic and diluted earnings per share were reported at HKD 0.1363 [1] Financial Performance - The decrease in revenue is attributed to various factors, while the profit increase is primarily due to non-recurring other income recognized from the exercise of usage rights, amounting to approximately HKD 49.128 million (excluding depreciation) [1] - The financial performance improvement is also linked to increased profits from associated companies and enhanced cost control measures, along with streamlined operational expenses [1]

Financial Performance - Revenue for the period was HKD 181,969,000, a decrease of 11.8% compared to HKD 206,385,000 for the same period last year[4] - Profit for the period was HKD 51,331,000, compared to a loss of HKD 12,074,000 for the same period last year[4] - Profit attributable to owners of the company was HKD 50,825,000, compared to a loss of HKD 12,195,000 for the same period last year[4] - The total comprehensive income for the period was HKD 53,728,000, compared to a loss of HKD 15,315,000 for the same period last year[6] - The group reported a profit of HKD 51,331,000 for the period, compared to a loss of HKD 12,047,000 in 2024, mainly due to non-recurring income from the exercise of rights[49] Revenue Breakdown - For the six months ended June 30, 2025, the total revenue from client contracts was HKD 181,969,000, a decrease of 11.8% compared to HKD 206,385,000 for the same period in 2024[17] - Revenue from architectural design services was HKD 163,295,000, down 10.3% from HKD 182,162,000 in the previous year[17] - Revenue from landscape design, urban planning, interior design, and heritage conservation services decreased to HKD 18,674,000 from HKD 24,223,000, representing a decline of 22.9%[17] - External customer revenue from Mainland China was HKD 58,633,000, down 28% from HKD 81,271,000 in 2024[19] - Revenue from Hong Kong increased to HKD 83,208,000, up 8.6% from HKD 76,556,000 in the previous year[19] Contractual Obligations - The total amount of new contracts signed and supplementary contracts during the period was HKD 232,804,000, an increase of HKD 46,292,000 or 24.8% compared to HKD 186,512,000 for the same period last year[4] - The total backlog of contracts was HKD 1,083,381,000, a decrease of HKD 178,379,000 or 14.1% from HKD 1,261,760,000 as of June 30, 2024[4] - As of June 30, 2025, the remaining contract amount for the company was approximately HKD 1,083,381,000, a decrease of 14.1% from HKD 1,261,760,000 in the same period of 2024[43] Assets and Liabilities - Non-current assets totaled HKD 216,794,000 as of June 30, 2025, compared to HKD 151,450,000 as of December 31, 2024[7] - Current assets amounted to HKD 486,989,000, an increase from HKD 468,435,000 as of December 31, 2024[7] - Total equity was HKD 467,224,000, compared to HKD 399,063,000 as of December 31, 2024[7] - The company’s total liabilities decreased, reflecting a reduction in bank borrowings by HKD 45,000,000 during the period[10] Cash Flow and Liquidity - For the six months ended June 30, 2025, the company reported a net cash inflow from operating activities of HKD 17,973,000, compared to HKD 6,188,000 for the same period in 2024, representing a significant increase of 189%[10] - The company reported a significant increase in cash and cash equivalents, reaching HKD 89,782,000 at the end of the period, up from HKD 77,933,000 at the end of June 2024[10] - The company’s restricted cash decreased by HKD 4,492,000 during the period, indicating improved liquidity management[10] Share Capital and Dividends - The company issued new shares resulting in net proceeds of HKD 13,776,000 during the period[10] - The company did not recommend any interim dividend for the six months ended June 30, 2025, nor confirmed any dividend distribution[30] - The company’s issued share capital increased to 432,391,170 shares as of June 30, 2025, following a rights issue that raised approximately HKD 14,413,000[37] Employee and Operational Changes - As of June 30, 2025, the group employed approximately 550 full-time employees, a decrease of about 21% from approximately 650 employees as of June 30, 2024[58] - Employee costs reduced to approximately HKD 118,566,000, down from HKD 149,659,000 as of June 30, 2024, primarily due to optimization of employee compensation plans and reduction in workforce[58] Strategic Focus and Market Expansion - The group is strategically focusing on green and smart building developments to strengthen its market position in key areas[50] - The group is actively expanding in the Middle East and North Africa, capitalizing on Saudi Arabia's Vision 2030 and the demand for integrated development projects[50] Corporate Governance - The board consists of six executive directors and three non-executive directors, including independent members[79] - The audit committee, consisting of one non-executive director and two independent non-executive directors, reviewed the unaudited consolidated results for the six months ended June 30, 2025[77] - The company has adopted a code of conduct for directors' securities trading, confirming compliance with the standards set by the listing rules[73]

Core Viewpoint - The company anticipates a profit of no less than 50 million HKD for the six months ending June 30, 2025, a significant turnaround from a loss of approximately 12 million HKD in the first half of 2024 [1] Financial Performance - The primary reason for the shift from loss to profit is attributed to non-recurring other income (net of depreciation) of approximately 49 million HKD recognized during the period due to the exercise of rights [1] - The financial performance improvement is also supported by an increase in the share of profits from associated companies and enhanced cost control measures along with streamlined operational expenses [1]

Core Viewpoint - The company expects to achieve a profit of no less than HKD 50 million for the six months ending June 30, 2025, a significant turnaround from a loss of approximately HKD 12 million in the first half of 2024 [1] Financial Performance - The primary reason for the turnaround from loss to profit is attributed to non-recurring other income (net of depreciation) of approximately HKD 49 million recognized during the period due to the exercise of rights [1] - The financial performance improvement is also supported by an increase in the share of profits from associated companies and enhanced cost control measures along with streamlined operational expenses [1]

Core Viewpoint - The company, Siheng Holdings (01486.HK), anticipates a profit of no less than 50 million HKD for the six months ending June 30, 2025, a significant turnaround from a loss of approximately 12 million HKD for the same period ending June 30, 2024 [1] Financial Performance - The primary reason for the shift from loss to profit is attributed to non-recurring other income (net of depreciation) of approximately 49 million HKD recognized during the period due to the exercise of rights [1] - The financial performance improvement is also supported by an increase in the share of profits from associated companies and enhanced cost control measures along with streamlined operating expenses [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不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而引致的任何損失承擔任何責任。 C CHENG HOLDINGS LIMITED 思城控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1486） 正面盈利預告 本公告由思城控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據證券及 期貨條例（香港法例第571章）第XIVA部項下之內幕消息條文及香港聯合交易所有限 公司證券上市規則第13.09(2)(a)條作出。 本公司董事會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者，根據截至 二零二五年六月三十日止六個月未經審核綜合管理帳目的初步評估，預期本集團截 至二零二五年六月三十日止六個月將錄得溢利不少於50百萬港元（截至二零二四年 六月三十日止六個月：虧損約12百萬港元）。根據目前可得的資料，集團由虧損轉為 溢利的主要原因由於期間因行使使用權（定義見日期為二零二五年五月二十二日通 函有關行使使用權的主要交易）而確認的非經常性其他收入（扣除折舊）約49百萬港 元 ...

思城控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1486） 董事會會議通告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 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告全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 C CHENG HOLDINGS LIMITED 思城控股有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司董事會會議將 於二零二五年八月二十五日（星期一）舉行，藉以（其中包括）考慮及批准本公司及其 附屬公司截至二零二五年六月三十日止六個月的未經審核中期業績及其發佈，並考 慮宣佈及派付中期股息（如有）。 承董事會命 思城控股有限公司 主席 梁鵬程 香港，二零二五年八月十一日 於本公告日期，執行董事為梁鵬程先生、劉江濤先生、符展成先生、王君友先生、 雷志軍先生及鄧立鳴先生；非執行董事為黃顯榮先生；以及獨立非執行董事為 陳進思先生及蘇玲女士。 ...