Group 1 - The core viewpoint of the article highlights that Qianxun Technology (01640) experienced a significant stock price increase of over 8% following the announcement of a positive earnings forecast for the first half of the year [1] - The company expects a net profit after tax of between 49.6 million to 53.6 million RMB, a substantial increase compared to 5.4 million RMB in the same period last year, driven by the acquisition of a second-hand electronic products e-commerce business [1] - Revenue is anticipated to surge by 850% to at least 640 million RMB, attributed to the aforementioned acquisition and the termination of a merger with a wholly-owned subsidiary, which generated non-recurring income [1] Group 2 - On July 15, Qianxun Technology announced a strategic partnership with a well-known domestic leasing platform, Aizhuji, to develop the world's first "3C leasing asset tokenization" product in the mobile phone and tablet leasing sector [1] - This collaboration aims to leverage both companies' strengths in RWA business innovation and the application of stablecoins in the trade of second-hand 3C electronic products, seeking to expand their business landscape for mutual benefit and collaborative development [1]

Core Viewpoint - Qianxun Technology (01640) expects a significant increase in net profit for the six months ending June 30, 2025, projecting an unaudited net profit after tax of approximately RMB 49.6 million to RMB 53.6 million, compared to RMB 5.4 million in the same period last year [1] Group 1 - The expected substantial increase in profit is primarily attributed to projected revenue of no less than RMB 640 million during the reporting period, representing an increase of approximately RMB 573 million or 853.8% compared to last year's revenue of approximately RMB 67.1 million [1] - The revenue growth is mainly driven by the e-commerce business for second-hand electronic products acquired by the group in August 2024, which is expected to contribute no less than RMB 620 million in revenue [1] - The group also anticipates non-recurring income from the termination of a merger with a wholly-owned subsidiary, with specific amounts to be disclosed in the mid-term performance announcement [1]

Group 1 - The company expects its unaudited consolidated net profit after tax for the six months ending June 30, 2025, to be approximately RMB 49.6 million to RMB 53.6 million, a significant increase from RMB 5.4 million in the same period last year [1] - The anticipated substantial increase in profit is primarily attributed to expected revenue of no less than RMB 640 million during the reporting period, representing an increase of approximately RMB 573 million or 853.8% compared to last year's revenue of RMB 67.1 million [1] - The revenue growth is mainly driven by the e-commerce business for second-hand electronic products acquired in August 2024, which is expected to contribute no less than RMB 620 million in revenue [1] Group 2 - The company also anticipates recognizing unaudited and non-recurring income due to the termination of a merger with a wholly-owned subsidiary during the reporting period, with specific amounts to be disclosed in the mid-term performance announcement [1]

Core Viewpoint - Qianxun Technology (01640.HK) expects a significant increase in its unaudited consolidated net profit after tax for the six months ending June 30, 2025, projecting between approximately RMB 49.6 million and RMB 53.6 million, compared to RMB 5.4 million in the same period last year [1] Group 1 - The expected substantial increase in net profit is primarily attributed to projected revenue of no less than approximately RMB 640 million during the reporting period, representing an increase of approximately RMB 572.9 million or 853.8% compared to last year's revenue of approximately RMB 67.1 million [1] - The revenue growth is mainly driven by the e-commerce business for second-hand electronic products acquired in August 2024, which is expected to contribute no less than RMB 620 million in revenue [1] - The company also anticipates recognizing unaudited and non-recurring income due to the termination of a merger with a wholly-owned subsidiary during the reporting period, with specific amounts to be disclosed in the mid-term performance announcement [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告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告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。 Qian Xun Technology Limited 千循科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1640） 正面盈利預告 股東及本公司潛在投資者於買賣本公司證券時，務請審慎行事。如有疑問，股東及潛在投資者務請 尋求專業或財務顧問的專業意見。 承董事會命 千循科技有限公司 主席兼執行董事 孫常鵬 香港，二零二五年七月三十一日 於本公告日期，執行董事為孫常鵬先生、冷學軍先生及李天滋先生，及獨立非執行董事為林藹茵 女士、黃誠思先生及牛鍾洁先生。 2 本公告由千循科技有限公司（「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條及香港法例第571章證券及期貨條例（「證券及期貨條例」）第 XIVA部而作出。本公司董事（「董事」）會（「董事會」）欣然通知本公司股東（「股東」）及潛在投資者，根 據對本集團截至二零二五年六三十日止六個月 ...

Group 1: Market Overview - The Hang Seng Index fell by 1.11%, down 284 points, closing at 25,383 points, while the Hang Seng Tech Index dropped by 1.69% [1] - The early trading volume in Hong Kong stocks reached 151 billion HKD [1] Group 2: Medical Sector - Medical device stocks rose in early trading, with the national drug procurement policy indicating a move away from internal competition, leading institutions to view this as a turning point for the industry [1] - Aikang Medical (01789) increased by 7.93%, and Weigao Group (01066) rose by 4.37% [1] - Yongsheng Medical (01612) saw a surge of over 27% following a profit warning, with sales orders increasing and expected mid-term net profit growth exceeding 50% year-on-year [2] - CRO concept stocks continued to rise, with Citigroup noting that the CXO sector is gaining market attention ahead of earnings season [2] - Kanglong Chemical (300759) (03759) rose by 8.4%, while Zhaoyan New Drug (603127) (06127) increased by 5.7%, and WuXi Biologics (02269) rose by 4.5% [2] Group 3: Consumer Sector - Nongfu Spring (09633) increased by over 3.56%, reaching a three-and-a-half-year high, with institutions expecting the company's first-half revenue growth to exceed market expectations [3] Group 4: Other Notable Stocks - Jihong Co., Ltd. (002803) (02603) rose by 16%, with two main business segments performing well, and expected first-half net profit growth of up to 65% [4] - China Merchants Port (01199) increased by over 4%, following reports that China Merchants Group plans to acquire assets from Cheung Kong Ports [5] - Guichuang Tongqiao (02190) rose by 2.6%, with expected mid-term net profit growth of 66.9%, as the company embraces procurement and actively expands overseas [6] Group 5: Lithium and Duty-Free Sector - News of supply disruptions in the lithium market led to Tianqi Lithium (002466) (09696) rising by 3.6% [7] - China Duty Free Group (601888) (01880) fell by over 6%, with pending details on Hainan's duty-free policies, and institutions noting that the closure operations have a dual impact on offshore duty-free business [7] Group 6: Technology Sector - Qianxun Technology (01640) fell by over 3%, having retreated 23% from its previous high, with recent comments from Yu Weiwen emphasizing the need to avoid excessive speculation on stablecoins [8]

Core Viewpoint - The strategic partnership between Qianxun Technology and Aizhuji aims to leverage RWA and blockchain technology to create the world's first "3C leasing asset tokenization" product in the mobile phone and tablet leasing sector, expanding their business landscape and achieving mutual benefits [1] Group 1: Partnership and Innovation - The collaboration will innovate asset operation models in the mobile and tablet leasing market, injecting new vitality into the sector [1] - Qianxun Technology's application for a virtual asset trading license through a partnership with Luhua Securities allows entry into the rapidly growing virtual asset trading market, broadening business boundaries and increasing revenue sources [1] Group 2: Tokenization and Investment Opportunities - The solution introduced by Qianxun Technology and Aizhuji utilizes blockchain smart contract technology to divide ownership of each leased device into multiple digital tokens, allowing investors to subscribe for as low as 100 yuan and share rental income based on their holdings [2] - The "Fenhao Cloud AI Assistant" developed by Qianxun Technology collects real-time data on device usage, maintenance records, and market conditions, ensuring that token value is accurately anchored to the underlying assets [2] Group 3: Business Model and Benefits - The innovative ecosystem created by the partnership results in a unique "flywheel effect," with a dual evaluation system for device selection ensuring a 100% qualification rate for included assets [3] - The introduction of a "rental insurance mechanism" through the token trading platform protects investor rights by automatically triggering compensation processes in case of device damage [3] - Customers can enjoy a 30% rental discount through token pledging, while investors benefit from liquidity in the secondary market, and both companies see a 40% increase in asset turnover and a 25% reduction in customer acquisition costs [3] Group 4: Digital Economy and Future Prospects - The collaboration is seen as a significant practice of RWA technology in the second-hand 3C leasing field, with strong demonstration significance for the digital transformation of the industry [4] - Qianxun Technology plans to build an asset pool with 50,000 to 100,000 devices, expecting an annual transaction volume of 300 to 500 million yuan, with future plans to replicate this model across other categories like laptops and drones [4] - The innovation is poised to redefine asset definitions in the digital economy era, potentially leading to a fundamental restructuring of value distribution in the entire 3C industry [4]

Core Viewpoint - The strategic partnership between Qianxun Technology and Shenzhen Aizhuji Technology aims to create the world's first "3C leasing asset tokenization" product in the mobile phone and tablet leasing sector, leveraging RWA and blockchain technology [1][2] Group 1: Partnership and Technology - The collaboration will utilize blockchain technology to build a data platform that binds the physical state, ownership information, leasing period, and rental income of leased devices to a unique digital identifier on the blockchain [1] - The digital rights generated will accurately reflect the value and income attributes of the assets, enhancing transparency and efficiency in asset management [1] Group 2: Business Implications - This innovation transforms physical leasing assets, primarily 3C products like mobile phones and tablets, into tradable and manageable digital rights, potentially opening new business growth avenues for the company [2] - The partnership aligns with the company's long-term development strategy and is expected to enhance its core competitiveness [2] Group 3: Partner Profile - Shenzhen Aizhuji Technology, backed by strategic investments from Ant Group and others, operates a comprehensive credit-free leasing and digital technology platform, providing light asset services for enterprises and credit-free rental services for individuals [2]

Core Viewpoint - The strategic partnership between Qianxun Technology and Luhua Securities aims to integrate virtual assets with the physical industry, enhancing business opportunities and driving innovation in the market [1][2]. Group 1: Partnership Details - Qianxun Technology and Luhua Securities signed a strategic cooperation agreement to collaborate on virtual asset trading license applications, RWA (mobile and tablet leasing) business, and stablecoin payment solutions in resource machine transactions [1]. - The collaboration is expected to allow both companies to enter the rapidly growing virtual asset trading market, expand their business boundaries, increase revenue sources, and enhance profitability [1]. Group 2: Market Potential and Innovation - The partnership is anticipated to innovate asset operation models in the RWA mobile and tablet leasing sector, providing new investment products and revitalizing the leasing market [1]. - The cooperation in stablecoin settlement payment for resource machines is expected to enhance the group's competitiveness in the supply chain and optimize transaction processes [1]. Group 3: Industry Insights - The founder of Qianxun Technology emphasized the importance of integrating virtual assets with the physical industry as a future trend, highlighting the significant market potential in Hong Kong, which has an annual trading volume exceeding HKD 100 billion [2]. - Industry experts noted that the collaboration represents a model for the deep integration of technology and finance, potentially leading to upgrades in related industrial chains and creating new economic growth points [2].

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 356.8 million, a decrease of 5.8% compared to RMB 378.7 million in 2023[4]. - The Group reported a loss before tax of RMB 123.1 million for 2024, compared to a loss of RMB 32.1 million in 2023, representing an increase of 283.7%[4]. - The Group's loss for the year increased to RMB 123.7 million in 2024, compared to RMB 23.4 million in 2023, marking a 429.8% increase[4]. - The Group's gross profit was approximately RMB 22.5 million with a gross profit margin of approximately 6.3%, stable compared to the previous year's gross profit of RMB 23.6 million and margin of 6.2%[51]. - The loss attributable to the owners of the Company was approximately RMB 123.7 million, compared to a loss of approximately RMB 23.5 million for the previous year[50]. Advertising Revenue - The advertising revenue from television services decreased by 75.8% to RMB 39.2 million, while online advertising services fell by 72.4% to RMB 51.9 million[5]. - Revenue from TV advertising services for the year ended December 31, 2024, was approximately RMB 39.2 million, reflecting a significant decline due to intense market competition[29][35]. - Online advertising services revenue also saw a significant decline, amounting to approximately RMB 51.9 million during the same period, as the group reduced its efforts in this area[31][37]. - Revenue from outdoor advertising services was approximately RMB 12.3 million, indicating ongoing efforts to strengthen market penetration in this segment[33]. - Revenue from outdoor advertising services was approximately RMB 12.3 million, a decrease of approximately 31.7% from RMB 18.0 million for the previous year[48]. - Revenue from other advertising services amounted to approximately RMB 4.2 million, representing a decrease of approximately 58.8% from RMB 10.2 million for the previous year[60]. Strategic Initiatives - The Group aims to restructure its revenue model towards the second-hand economy sector over the next three years, focusing on sustainable growth[15]. - The Group plans to offset weaknesses in the advertising business with high growth in the second-hand e-commerce business, aiming for a fundamental restructuring of its revenue sources over the next three years[19][23]. - The Group is expanding its used electronic product supply chain business in the Asia Pacific region, North America, and the Middle East[17]. - The company plans to offset weaknesses in the advertising business with high growth in the second-hand e-commerce business in the short term[108]. - The group expects a brighter outlook for its advertising business in 2025, driven by improved macro-economic conditions and market environment[99]. Acquisitions and Investments - The acquisition of "Qian Xun Technology" in August 2024 contributed approximately RMB 246.2 million in sales turnover from used electronic products and RMB 3.0 million from SaaS services[14]. - The acquisition of the second-hand electronic product trading platform "Qian Xun Technology" in August 2024 has generated approximately RMB 246.2 million in sales and RMB 3.0 million in SaaS service revenue, contributing to segment profit[18]. - The company acquired Charm Linkage Holdings Limited for a total consideration of HK$82,600,000, completed on 13 August 2024, with part of the payment settled through the issuance of new shares[79][84]. Financial Position - The successful placement of convertible bonds amounting to HK$257 million on February 28, 2025, has strengthened the Group's financial position[17]. - The group successfully placed convertible bonds totaling HKD 257 million on February 28, 2025, enhancing its financial position to support advertising and second-hand electronic product platform business expansion[20]. - As of 31 December 2024, cash and cash equivalents amounted to approximately RMB 34.0 million, an increase from approximately RMB 17.9 million in the previous year[88]. - The Group's total assets as of 31 December 2024 were approximately RMB 459.2 million, with equity attributable to the owners of the Company at approximately RMB 153.8 million[88]. - The company's gearing ratio decreased from approximately 81.5% as of December 31, 2023, to approximately 53.3% as of December 31, 2024[96]. Corporate Governance - The company is committed to high standards of corporate governance and has complied with the Corporate Governance Code during the reporting period[123]. - The Group emphasizes high standards of business ethics and corporate governance, with training materials reinforcing required standards for all staff[150]. - The Company has adopted the Model Code for Directors' securities transactions, confirming compliance during the Reporting Period[153]. - The Board currently comprises two executive Directors and three Independent Non-executive Directors, ensuring a diverse skill set relevant to the Group's management[159]. - The Company has established a comprehensive corporate governance framework, including policies for training and continuous professional development of Directors and senior management[185]. Legal Matters - Legal action has been initiated against Ms. Wang for alleged misconduct, including forgery and unauthorized changes to legal representatives[118]. - The court has accepted the legal proceedings, but the trial date has not yet been notified[119]. - The company lost control and ownership of a subsidiary, Lingyu Beijing, due to unauthorized changes in legal representation and a secret sale of equity[116]. - The equity of Lingyu Beijing has undergone three transfers, complicating the legal recovery process[117]. - The company has engaged legal advisors to explore the possibility of recovering equity from Lingyu Beijing[117].