Core Viewpoint - Global Credit Group (01669.HK) reported a revenue of HKD 42.068 million for the six months ending June 30, 2025, representing a year-on-year decrease of 9.5% [1] Financial Performance - The profit attributable to the company's owners was HKD 27.89 million, showing a year-on-year increase of 12.9% [1] - Basic earnings per share were HKD 0.07, with an interim dividend proposed at HKD 0.028 per share and a special interim dividend of HKD 0.042 per share [1]

Core Insights - The company reported a revenue of HKD 42.068 million for the first half of 2025, representing a year-on-year decline of 9.4% [1] - Net profit increased to HKD 27.89 million, showing a year-on-year growth of 12.9% [1] - Basic earnings per share were reported at HKD 0.07 [1] Business Strategy - The company continues to implement stringent credit policies in its property loan business to minimize related credit risks [1] - There is a focus on reducing exposure to high-risk loans and adjusting pricing strategies to address the rising risks associated with mortgages [1]

Core Insights - The company reported a revenue of HKD 42.068 million for the first half of 2025, representing a year-on-year decline of 9.4% [1] - Net profit increased to HKD 27.89 million, showing a year-on-year growth of 12.9% [1] - Basic earnings per share were reported at HKD 0.07 [1] Financial Performance - Revenue: HKD 42.068 million, down 9.4% year-on-year [1] - Net Profit: HKD 27.89 million, up 12.9% year-on-year [1] - Basic Earnings per Share: HKD 0.07 [1] Business Strategy - The company maintained a rigorous credit policy in its property loan business to minimize credit risk [1] - Focus on reducing exposure to high-risk loans and adjusting pricing strategies to address rising mortgage-related risks [1]

第 1 頁 共 2 頁 v 1.1.1 | EF001 | | --- | | 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，本公司董事包括: | | | 執行董事: | | | 金曉琴女士 | | | 王瑤女士 | | | 葉莉盈女士 | | | 獨立非執行董事: | | | 吳麗文博士 | | | 文耀光先生 | | | 浦炳榮先生 | | 第 2 頁 共 2 頁 v 1.1.1 免責聲明 | 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 | | | --- | --- | | 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的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 環球信貸集團有限公司 | | 股份代號 | 01669 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | ...

EF001 免責聲明 | 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 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的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 環球信貸集團有限公司 | | 股份代號 | 01669 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年六月三十日止六個月之中期股息 | | | 公告日期 | 2025年8月28日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 不適用 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.028 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.028 HKD | | 匯率 | 1 HKD : 1 HKD | | 除淨 ...

[Interim Results Summary](index=1&type=section&id=Interim%20Results%20Summary) [Unaudited Condensed Consolidated Interim Statement of Comprehensive Income](index=1&type=section&id=Unaudited%20Condensed%20Consolidated%20Interim%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, revenue decreased by **9.5%** to **42,068 thousand HKD**, while profit and total comprehensive income attributable to owners increased by **12.9%** to **27,890 thousand HKD** due to reduced expenses, with basic earnings per share rising from **6.2 HK cents** to **7.0 HK cents** Overview of Comprehensive Income for H1 2025 | Metric | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 42,068 | 46,457 | (4,389) | -9.5% | | Other Income | 3,529 | 528 | 3,001 | 568.4% | | Administrative Expenses | (10,388) | (12,367) | 1,979 | -16.0% | | Impairment Losses on Financial Assets | (1,180) | (5,027) | 3,847 | -76.5% | | Impairment Losses on Intangible Assets | (1,060) | – | (1,060) | N/A | | Finance Costs | (83) | (148) | 65 | -43.9% | | Profit Before Income Tax | 32,886 | 29,443 | 3,443 | 11.7% | | Income Tax Expense | (4,996) | (4,747) | (249) | 5.2% | | Profit and Total Comprehensive Income Attributable to Owners of the Company for the Period | 27,890 | 24,696 | 3,194 | 12.9% | | Basic Earnings Per Share (HK cents) | 7.0 | 6.2 | 0.8 | 12.9% | [Unaudited Condensed Consolidated Interim Statement of Financial Position](index=2&type=section&id=Unaudited%20Condensed%20Consolidated%20Interim%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets slightly increased to **963,858 thousand HKD**, primarily due to a significant rise in cash and cash equivalents, while total loans receivable decreased and new financial assets at FVTPL amounted to **27,051 thousand HKD**, with total liabilities slightly up but total equity remaining stable Overview of Financial Position for H1 2025 | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Assets** | | | | | | Total Non-current Assets | 257,975 | 295,405 | (37,430) | -12.7% | | Total Current Assets | 705,883 | 658,326 | 47,557 | 7.2% | | Total Assets | 963,858 | 953,731 | 10,127 | 1.1% | | **Liabilities** | | | | | | Total Non-current Liabilities | 585 | 1,430 | (845) | -59.1% | | Total Current Liabilities | 14,499 | 11,417 | 3,082 | 27.0% | | Total Liabilities | 15,084 | 12,847 | 2,237 | 17.4% | | **Equity** | | | | | | Total Equity | 948,774 | 940,884 | 7,890 | 0.8% | - Cash and cash equivalents increased by **41.9%** from **181,823 thousand HKD** as of December 31, 2024, to **258,016 thousand HKD** as of June 30, 2025[4](index=4&type=chunk) - New financial assets at fair value through profit or loss amounted to **27,051 thousand HKD**, compared to zero as of December 31, 2024[4](index=4&type=chunk) [Notes to the Condensed Consolidated Interim Financial Information](index=4&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Information) [General Information](index=4&type=section&id=1.%20General%20Information) The company is registered in the Cayman Islands, primarily engaged in property mortgage and private lending businesses in Hong Kong, with Blossom Spring Global Limited as the ultimate holding company and Ms. Jin Xiaoqin as the ultimate controlling party - The company's principal activities are property mortgage loans and private loans in Hong Kong[6](index=6&type=chunk) - The ultimate holding company is Blossom Spring Global Limited, and the ultimate controlling party is Ms. Jin Xiaoqin[6](index=6&type=chunk) [Basis of Preparation and Accounting Policies](index=4&type=section&id=2.%20Basis%20of%20Preparation%20and%20Accounting%20Policies) This interim financial information is prepared in accordance with HKAS 34 and the Listing Rules, using consistent accounting policies with no material impact from new or revised standards - The financial information is prepared in accordance with Hong Kong Accounting Standard 34 and the Listing Rules of the Stock Exchange[8](index=8&type=chunk) - The adoption of new and revised Hong Kong Financial Reporting Standards has no material impact on the current period's financial information[8](index=8&type=chunk)[9](index=9&type=chunk) [Segment Information](index=5&type=section&id=3.%20Segment%20Information) All group revenue is derived from property mortgage and private lending businesses in Hong Kong, with no segment analysis presented as management views the group as a single entity - All of the Group's revenue is derived from its lending business (property mortgage loans and private loans) in Hong Kong[10](index=10&type=chunk) - No segment analysis is presented as management considers the Group as a whole for resource allocation and performance assessment[10](index=10&type=chunk) [Revenue and Other Income](index=5&type=section&id=4.%20Revenue%20and%20Other%20Income) For the six months ended June 30, 2025, interest income decreased by **9.5%** to **42,068 thousand HKD**, while other income significantly increased by **568.4%** to **3,529 thousand HKD**, driven by bank interest, FVTPL financial asset interest, and fair value gains Details of Revenue and Other Income | Revenue Category | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Interest Income | 42,068 | 46,457 | (4,389) | -9.5% | | Bank Interest Income | 2,212 | 528 | 1,684 | 318.9% | | FVTPL Financial Assets Interest Income | 550 | – | 550 | N/A | | FVTPL Financial Assets Fair Value Gain | 331 | – | 331 | N/A | | Net Exchange Gain | 436 | – | 436 | N/A | | **Total Other Income** | **3,529** | **528** | **3,001** | **568.4%** | [Administrative Expenses](index=6&type=section&id=5.%20Administrative%20Expenses) For the six months ended June 30, 2025, administrative expenses decreased by **16.0%** year-on-year to **10,388 thousand HKD**, primarily due to reduced advertising and marketing expenses and depreciation of right-of-use assets Details of Administrative Expenses | Expense Category | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Employee Benefit Expenses | 6,132 | 5,763 | 369 | 6.4% | | Advertising and Marketing Expenses | 861 | 1,570 | (709) | -45.2% | | Depreciation of Right-of-Use Assets | 1,012 | 2,105 | (1,093) | -51.9% | | **Total Administrative Expenses** | **10,388** | **12,367** | **(1,979)** | **-16.0%** | [Impairment Losses on Financial Assets, Net of Reversals](index=6&type=section&id=6.%20Impairment%20Losses%20on%20Financial%20Assets,%20Net%20of%20Reversals) For the six months ended June 30, 2025, net impairment losses on financial assets significantly decreased by **76.5%** to **1,180 thousand HKD**, primarily due to reversals of provisions for recovered loans and stable collateral values Details of Impairment Losses on Financial Assets | Impairment Loss Category | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Provision for Impairment Losses on Loans Receivable | 466 | 4,059 | (3,593) | -88.5% | | Provision for Impairment Losses on Interest Receivable | 71 | 393 | (322) | -81.9% | | Write-off of Recovered Assets/Loans and Interest Receivable | 200 | 184 | 16 | 8.7% | | Provision for Impairment Losses on Recovered Assets | 443 | 391 | 52 | 13.3% | | **Total** | **1,180** | **5,027** | **(3,847)** | **-76.5%** | [Income Tax Expense](index=7&type=section&id=7.%20Income%20Tax%20Expense) For the six months ended June 30, 2025, income tax expense slightly increased to **4,996 thousand HKD**, with the company evaluating a dispute with the tax authority regarding interest income for 2015-2018, for which a **4,522 thousand HKD** provision has been made Details of Income Tax Expense | Tax Category | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Hong Kong Profits Tax – Current Period | 5,068 | 5,159 | (91) | -1.8% | | Increase in Deferred Tax Assets | (72) | (412) | 340 | -82.5% | | **Total** | **4,996** | **4,747** | **249** | **5.2%** | - The company is in dispute with the tax authority regarding the capital and offshore nature of certain interest income for 2015-2018, for which a tax provision of **4,522 thousand HKD** has been made[18](index=18&type=chunk)[19](index=19&type=chunk) [Earnings Per Share](index=8&type=section&id=8.%20Earnings%20Per%20Share) For the six months ended June 30, 2025, basic earnings per share increased year-on-year to **7.0 HK cents**, primarily due to higher profit attributable to owners of the company, while the weighted average number of ordinary shares remained unchanged Earnings Per Share Calculation | Metric | H1 2025 | H1 2024 | Change | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Profit Attributable to Owners of the Company (thousand HKD) | 27,890 | 24,696 | 3,194 | 12.9% | | Weighted Average Number of Ordinary Shares in Issue (thousand shares) | 400,000 | 400,000 | 0 | 0.0% | | **Basic Earnings Per Share (HK cents)** | **7.0** | **6.2** | **0.8** | **12.9%** | - Diluted earnings per share are the same as basic earnings per share due to the absence of potentially dilutive ordinary shares[22](index=22&type=chunk) [Dividends](index=9&type=section&id=9.%20Dividends) The Board declared an interim dividend of **2.8 HK cents** and a special interim dividend of **4.2 HK cents** per share, totaling **7.0 HK cents**, with no interim dividend declared in the prior period, to be recognized in shareholders' equity for the year ending December 31, 2025 Interim Dividend Declaration | Dividend Type | H1 2025 (HK cents per share) | H1 2024 (HK cents per share) | | :--- | :--- | :--- | | Interim Dividend | 2.8 | Nil | | Special Interim Dividend | 4.2 | Nil | | **Total** | **7.0** | **Nil** | - A final dividend of **5.0 HK cents** per share (totaling **20,000 thousand HKD**) for 2024 was declared, approved, and paid in June 2025[23](index=23&type=chunk) [Intangible Assets](index=9&type=section&id=10.%20Intangible%20Assets) The Group's Hong Kong Golf Club nominee membership is assessed as having an indefinite useful life, but an impairment loss of **1,060 thousand HKD** was recognized for the six months ended June 30, 2025, due to a recoverable amount assessment - The Hong Kong Golf Club membership is assessed as having an indefinite useful life[24](index=24&type=chunk) - An impairment loss of **1,060 thousand HKD** on intangible assets was recognized for the six months ended June 30, 2025 (nil in the prior period)[24](index=24&type=chunk) [Loans Receivable](index=9&type=section&id=11.%20Loans%20Receivable) As of June 30, 2025, total loans receivable (net of provisions) decreased by **12.4%** to **643,889 thousand HKD** from December 31, 2024, primarily due to a reduction in gross loans, with most loans being secured Overview of Loans Receivable | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Gross Loans Receivable | 654,092 | 746,090 | (91,998) | -12.3% | | Provision for Impairment Losses | (10,203) | (11,300) | 1,097 | -9.7% | | **Loans Receivable, Net of Provisions** | **643,889** | **734,790** | **(90,901)** | **-12.4%** | - The vast majority of loans receivable are secured by collateral provided by customers, with only **1,003 thousand HKD** being unsecured loans[26](index=26&type=chunk) [Interest Receivable](index=10&type=section&id=12.%20Interest%20Receivable) As of June 30, 2025, interest receivable (net of provisions) increased by **21.8%** to **8,249 thousand HKD** from December 31, 2024, with a higher proportion of interest receivable over 90 days Overview of Interest Receivable | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Gross Interest Receivable | 8,769 | 7,299 | 1,470 | 20.1% | | Provision for Impairment Losses | (520) | (527) | 7 | -1.3% | | **Interest Receivable, Net of Provisions** | **8,249** | **6,772** | **1,477** | **21.8%** | Aging Analysis of Interest Receivable | Aging | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Current | 894 | 1,504 | | 1 to 30 days | 2,029 | 1,762 | | 31 to 90 days | 1,870 | 1,653 | | Over 90 days | 3,456 | 1,853 | | **Total** | **8,249** | **6,772** | [Recovered Assets](index=11&type=section&id=13.%20Recovered%20Assets) As of June 30, 2025, recovered assets (net of provisions) decreased by **20.9%** to **5,246 thousand HKD** from December 31, 2024, primarily residential properties, with their estimated market value also declining Overview of Recovered Assets | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Recovered Properties – Residential Properties | 6,750 | 7,377 | (627) | -8.5% | | Less: Provision for Impairment Losses | (1,504) | (751) | (753) | 100.3% | | **Recovered Assets, Net of Provisions** | **5,246** | **6,626** | **(1,380)** | **-20.8%** | - The estimated market value of recovered assets decreased from **10,500 thousand HKD** as of December 31, 2024, to **10,090 thousand HKD** as of June 30, 2025[31](index=31&type=chunk) [Financial Assets at Fair Value Through Profit or Loss](index=12&type=section&id=14.%20Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) As of June 30, 2025, the Group added **27,051 thousand HKD** in unlisted FVTPL investments, including equity-linked and bond-linked notes primarily denominated in USD, aimed at enhancing returns on idle funds Financial Assets at Fair Value Through Profit or Loss | Investment Category | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Equity-linked Notes | 11,183 | – | | Bond-linked Notes | 15,868 | – | | **Total** | **27,051** | **–** | - These financial assets are primarily denominated in **USD (19,077 thousand HKD)**, with the remainder in **HKD (7,974 thousand HKD)**[34](index=34&type=chunk) - The returns on equity-linked and bond-linked notes are tied to the market prices of listed equities or US Treasury bonds, with all having a maturity of less than one year[33](index=33&type=chunk) [Share Capital](index=13&type=section&id=15.%20Share%20Capital) As of June 30, 2025, the company's authorized share capital was **100,000 thousand HKD** and issued and fully paid share capital was **4,000 thousand HKD**, remaining unchanged from December 31, 2024 Share Capital Structure | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Authorized Share Capital (10,000,000,000 shares of HKD0.01 each) | 100,000 | 100,000 | | Issued and Fully Paid Share Capital (400,000,000 shares of HKD0.01 each) | 4,000 | 4,000 | [Related Party Transactions](index=13&type=section&id=16.%20Related%20Party%20Transactions) The Group is ultimately controlled by Ms. Jin Xiaoqin; for the six months ended June 30, 2025, an unsecured revolving loan facility of **50,000 thousand HKD** from associate company Well Dragon expired unused, and key management personnel remuneration slightly increased - The ultimate controlling party is Ms. Jin Xiaoqin[35](index=35&type=chunk) - An unsecured revolving loan facility of **50,000 thousand HKD** from associate company Well Dragon expired during the period and was not utilized[36](index=36&type=chunk)[37](index=37&type=chunk) Key Management Personnel Remuneration | Remuneration Category | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Salaries, Commissions and Benefits | 2,235 | 2,129 | 106 | 5.0% | | Pension Costs | 36 | 36 | 0 | 0.0% | | **Total Key Management Personnel Remuneration** | **2,271** | **2,165** | **106** | **4.9%** | [Fair Value Measurement of Financial Instruments](index=14&type=section&id=17.%20Fair%20Value%20Measurement%20of%20Financial%20Instruments) The carrying amounts of the Group's financial assets and liabilities measured at amortized cost approximate their fair values; as of June 30, 2025, FVTPL financial assets (unlisted investments) totaled **27,051 thousand HKD**, all classified as Level 2, with fair values determined by financial institution quotes - The carrying amounts of financial assets and liabilities measured at amortized cost approximate their fair values[39](index=39&type=chunk) Fair Value Hierarchy of Financial Instruments | Fair Value Level | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Level 1 | – | – | | Level 2 | 27,051 | – | | Level 3 | – | – | | **Total** | **27,051** | **–** | - The fair values of unlisted investments are determined based on quotes from financial institutions, using valuation techniques such as discounted cash flow models and option pricing models, and are based on observable market inputs[42](index=42&type=chunk) [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=15&type=section&id=Business%20Review) The Hong Kong property market remained stable under moderate downward pressure, influenced by slow economic recovery and macro uncertainties, leading the Group to adopt stringent credit policies, reduce high-risk loan exposure, resulting in a **12.3%** decrease in total loans receivable and recovered assets, and a **9.5%** decline in revenue - The Hong Kong property market remained generally stable, though the private residential property price index slightly decreased by **0.9%**, with cautious optimism in market sentiment[44](index=44&type=chunk) - The Group implemented stringent credit policies, reduced exposure to high-risk loans, and adjusted its pricing strategies[45](index=45&type=chunk) Changes in Key Business Metrics | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Gross Loans Receivable and Total Recovered Assets | 660,800 | 753,500 | (92,700) | -12.3% | | Revenue (for the six months ended June 30) | 42,100 | 46,500 | (4,400) | -9.5% | [Financial Review](index=15&type=section&id=Financial%20Review) This period's financial performance shows declining revenue but increasing profit; interest income decreased due to reduced gross loans, while other income grew significantly from effective fund management, with administrative expenses and financial asset impairment losses substantially reduced, and both net interest margin and effective tax rate improved, ultimately driving a **12.9%** increase in profit and total comprehensive income - The financial review covers an analysis of key financial metrics including revenue, other income, administrative expenses, impairment losses, finance costs, net interest margin, income tax expense, and total profit and comprehensive income[46](index=46&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk)[49](index=49&type=chunk)[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk) [Revenue](index=15&type=section&id=Revenue) Interest income decreased by **9.5%** year-on-year to **42,100 thousand HKD**, primarily due to an **11.3%** reduction in the average monthly balance of gross loans receivable, partially offset by increased interest rates charged Changes in Revenue and Average Loans Receivable Balance | Metric | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Interest Income | 42,100 | 46,500 | (4,400) | -9.5% | | Average Monthly Balance of Gross Loans Receivable | 736,600 | 830,500 | (93,900) | -11.3% | [Other Income](index=16&type=section&id=Other%20Income) Other income significantly increased by **568.4%** to **3,529 thousand HKD**, primarily benefiting from returns on idle funds, including fixed deposit interest income and gains from financial assets at fair value through profit or loss - Other income significantly increased, primarily attributable to effective fund management, including fixed deposit interest and FVTPL financial asset gains[47](index=47&type=chunk) [Administrative Expenses](index=16&type=section&id=Administrative%20Expenses) Administrative expenses decreased by **16.0%** year-on-year to **10,400 thousand HKD**, mainly due to reduced advertising and marketing expenses and lower depreciation of right-of-use assets following office relocation - The decrease in administrative expenses was mainly due to reduced advertising and marketing expenses and reduced depreciation of right-of-use assets[48](index=48&type=chunk) [Impairment Losses on Financial Assets, Net of Reversals](index=16&type=section&id=Impairment%20Losses%20on%20Financial%20Assets,%20Net%20of%20Reversals) Net impairment losses on financial assets significantly decreased by **76.0%** to **1,200 thousand HKD**, primarily due to reversals of provisions for recovered loans and stable collateral values during the period - The reduction in impairment losses was mainly due to reversals of provisions for recovered loans and stable collateral values[49](index=49&type=chunk) [Impairment Losses on Intangible Assets](index=16&type=section&id=Impairment%20Losses%20on%20Intangible%20Assets) For the six months ended June 30, 2025, an impairment loss of **1,100 thousand HKD** was recognized due to the recoverable amount assessment of the golf club membership - An impairment loss of **1,100 thousand HKD** on the golf club membership was recognized in the current period[50](index=50&type=chunk) [Finance Costs](index=16&type=section&id=Finance%20Costs) Finance costs decreased by **43.9%** year-on-year to **83 thousand HKD**, primarily due to a reduction in interest expenses on lease liabilities - The decrease in finance costs was mainly due to reduced interest expenses on lease liabilities[51](index=51&type=chunk) [Net Interest Margin](index=17&type=section&id=Net%20Interest%20Margin) Net interest margin increased from **11.0%** in the prior period to **11.2%** in the current period, reflecting an improvement between loan interest income and finance costs Changes in Net Interest Margin | Metric | H1 2025 | H1 2024 | Change (percentage points) | | :--- | :--- | :--- | :--- | | Net Interest Margin | 11.2% | 11.0% | 0.2% | [Income Tax Expense](index=17&type=section&id=Income%20Tax%20Expense) The effective tax rate decreased from **16.1%** in the prior period to **15.2%** in the current period Changes in Effective Tax Rate | Metric | H1 2025 | H1 2024 | Change (percentage points) | | :--- | :--- | :--- | :--- | | Effective Tax Rate | 15.2% | 16.1% | -0.9% | [Profit and Total Comprehensive Income](index=17&type=section&id=Profit%20and%20Total%20Comprehensive%20Income) Profit and total comprehensive income increased by **12.9%** year-on-year to **27,900 thousand HKD**, primarily benefiting from reduced administrative expenses and impairment losses on financial assets Changes in Profit and Total Comprehensive Income | Metric | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Profit and Total Comprehensive Income | 27,900 | 24,700 | 3,200 | 12.9% | [Liquidity, Financial Resources and Capital Structure](index=17&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) The Group primarily funds operations through equity and retained earnings, maintaining a robust financial position, with cash and cash equivalents significantly increasing by **41.9%** to **258,000 thousand HKD** due to reduced loans receivable, and no outstanding interest-bearing bank or related party loans, indicating a net cash position - The Group primarily funds its operations and capital requirements through equity and retained earnings, maintaining a healthy financial position[55](index=55&type=chunk) Changes in Cash and Cash Equivalents | Metric | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | Change (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 258,000 | 181,800 | 76,200 | 41.9% | - The increase in cash is primarily attributable to a decrease in loans receivable[56](index=56&type=chunk) - There were no outstanding interest-bearing bank loans or related party loans during the period, and the Group is in a net cash position[56](index=56&type=chunk)[57](index=57&type=chunk) [Financial Assets at Fair Value Through Profit or Loss](index=18&type=section&id=Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss_MDA) The Group subscribed to **27,051 thousand HKD** in equity-linked and bond-linked notes as part of its fund management strategy to enhance returns on idle funds, generating **550 thousand HKD** in interest income and **331 thousand HKD** in fair value gains - The Group subscribed to equity-linked notes and bond-linked notes as part of its fund management strategy to enhance returns on available funds[58](index=58&type=chunk) Returns on FVTPL Financial Asset Investments | Investment Category | Investment Cost (thousand HKD) | Fair Value (thousand HKD) | Interest Income (thousand HKD) | Fair Value Gain (thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Equity-linked Notes | 11,120 | 11,183 | 550 | 63 | | Bond-linked Notes | 15,600 | 15,868 | – | 268 | | **Total** | **26,720** | **27,051** | **550** | **331** | [Material Acquisitions and Disposals](index=19&type=section&id=Material%20Acquisitions%20and%20Disposals) For the six months ended June 30, 2025, the Group had no material acquisitions or disposals of subsidiaries and associates - There were no material acquisitions or disposals during the period[60](index=60&type=chunk) [Employees and Remuneration Policy](index=19&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group employed **18** full-time employees with total employee benefit expenses of **6,100 thousand HKD**, and its remuneration policy is based on market trends, individual performance, and experience Number of Employees | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Number of Full-time Employees | 18 | 19 | Employee Benefit Expenses | Metric | H1 2025 (thousand HKD) | H1 2024 (thousand HKD) | | :--- | :--- | :--- | | Total Employee Benefit Expenses | 6,100 | 5,800 | [Corporate Social Responsibility](index=19&type=section&id=Corporate%20Social%20Responsibility) The Group is committed to fulfilling corporate social responsibility through charitable and volunteer activities, encouraging employee participation in community events, and plans to continue supporting vulnerable groups in Hong Kong - The Group fulfills its corporate social responsibility by participating in charitable and volunteer activities[62](index=62&type=chunk) - Employees are encouraged to support community activities, and the Group plans to continue supporting vulnerable groups in Hong Kong[62](index=62&type=chunk) [Contingent Liabilities](index=20&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no material contingent liabilities - The Group had no material contingent liabilities[63](index=63&type=chunk) [Pledge of Assets](index=20&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group had no pledged or charged assets - The Group had no pledged or charged assets[64](index=64&type=chunk) [Foreign Exchange Risk](index=20&type=section&id=Foreign%20Exchange%20Risk) The Group's business activities are denominated in HKD, but it holds USD-denominated cash and FVTPL financial assets; given the linked exchange rate system between HKD and USD, foreign exchange risk impact is expected to be minimal, and the Board deems hedging unnecessary - The Group holds USD-denominated cash and FVTPL financial assets, but given the linked exchange rate system, the impact of foreign exchange risk is expected to be minimal[65](index=65&type=chunk) - The Board believes that no hedging is currently required for foreign exchange risk[65](index=65&type=chunk) [Events After Reporting Period](index=20&type=section&id=Events%20After%20Reporting%20Period) From the end of the reporting period to the date of this interim results announcement, the Group had no material events after the reporting period - There were no material events after the reporting period[66](index=66&type=chunk) [Outlook](index=20&type=section&id=Outlook) For 2025, the Hong Kong property market is expected to gradually stabilize in a lower interest rate environment but remains in a foundational stage; the Group will continue to adopt prudent credit risk management, adjust its loan portfolio, and leverage ample capital reserves to seize market opportunities and continuously improve existing products and services - The Hong Kong property market is expected to gradually stabilize in a lower interest rate environment in 2025, but it still requires time to establish a solid foundation[67](index=67&type=chunk) - The Group will continue to adopt a prudent credit risk management approach and adjust its loan portfolio to maintain asset quality and resilience[67](index=67&type=chunk)[68](index=68&type=chunk) - With ample capital reserves and a sound financial position, the Group is capable of seizing market opportunities and continuously improving its existing products and services[68](index=68&type=chunk) [Other Information](index=21&type=section&id=Other%20Information) [Purchase, Sale or Redemption of the Company's Listed Securities](index=21&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) For the six months ended June 30, 2025, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - There were no purchases, sales, or redemptions of the company's listed securities during the period[69](index=69&type=chunk) [Corporate Governance Practices](index=21&type=section&id=Corporate%20Governance%20Practices) The company complies with the Corporate Governance Code, though the roles of Chairman and Chief Executive are combined and held by Ms. Wang Yao, an arrangement the Board believes ensures consistent leadership and efficient strategic planning; additionally, an independent non-executive director chaired the AGM due to Ms. Wang Yao's absence - The roles of Chairman and Chief Executive are not segregated and are held by Ms. Wang Yao, an arrangement the Board believes ensures consistent leadership and efficient strategic planning[70](index=70&type=chunk) - Ms. Wang Yao, the Chairman, was unable to attend the Annual General Meeting, and Mr. Man Yiu Kwong, an independent non-executive director, served as the chairman[71](index=71&type=chunk) [Compliance with the Model Code for Securities Transactions](index=22&type=section&id=Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions) The company has adopted a code of conduct no less exacting than the Model Code and confirms that all directors complied with the relevant provisions during the reporting period - All directors complied with the company's adopted code of conduct for securities transactions during the reporting period[72](index=72&type=chunk) [Review of Interim Results by Audit Committee](index=22&type=section&id=Review%20of%20Interim%20Results%20by%20Audit%20Committee) The Audit Committee discussed internal controls and financial reporting with management, reviewed the interim financial information with management and independent auditors, and recommended Board approval; the independent auditors reviewed the interim results in accordance with Hong Kong Standard on Review Engagements 2410 - The Audit Committee has reviewed the interim results and recommended them for Board approval[73](index=73&type=chunk) - The independent auditors have reviewed the interim results in accordance with Hong Kong Standard on Review Engagements 2410[73](index=73&type=chunk) [Interim Dividend and Special Interim Dividend](index=22&type=section&id=Interim%20Dividend%20and%20Special%20Interim%20Dividend) The Board declared an interim dividend of **2.8 HK cents** and a special interim dividend of **4.2 HK cents** per share, totaling **7.0 HK cents**, payable on or about October 10, 2025, reflecting the company's robust financial and liquidity position and a return of surplus cash to shareholders Details of Interim and Special Interim Dividends | Dividend Type | Amount Per Share (HK cents) | Payment Date | | :--- | :--- | :--- | | Interim Dividend | 2.8 | On or about October 10, 2025 | | Special Interim Dividend | 4.2 | On or about October 10, 2025 | - The Board decided to resume interim dividend payments and declare a special interim dividend to return a portion of surplus cash to shareholders, reflecting the company's robust financial and liquidity position[75](index=75&type=chunk) [Closure of Register of Members](index=23&type=section&id=Closure%20of%20Register%20of%20Members) To determine eligibility for the interim and special interim dividends, the company will suspend its register of members from September 17 to September 19, 2025 - The register of members will be closed from September 17 to September 19, 2025, to determine eligibility for the interim and special interim dividends[76](index=76&type=chunk) [Publication](index=23&type=section&id=Publication) This interim results announcement has been published on the Stock Exchange and the company's website, and the interim report will be dispatched to shareholders and published on the website in due course - The interim results announcement has been published on the Stock Exchange and the company's website[77](index=77&type=chunk) [By Order of the Board](index=23&type=section&id=By%20Order%20of%20the%20Board) This announcement was signed by Ms. Wang Yao, Chairman and Chief Executive Officer of the Board, on August 28, 2025 - The announcement was signed by Ms. Wang Yao, Chairman and Chief Executive Officer of the Board[78](index=78&type=chunk)

格隆汇8月15日丨环球信贷集团(01669.HK)公布，本公司将于2025年8月28日（星期四）举行董事会会 议，藉以（其中包括）考虑及通过本公司及其附属公司截至2025年6月30日止六个月的中期业绩及其发 布，及考虑派发中期股息（如有）。 ...

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倚 賴該等內容而引致的任何損失承擔任何責任。 承董事會命 環球信貸集團有限公司 主席兼總裁 王瑤 香港，二零二五年八月十五日 GLOBAL INTERNATIONAL CREDIT GROUP LIMITED 環球信貸集團有限公司 （於開曼群島註冊成立的有限公司） (股份代號 : 1669) 董事會召開日期 環球信貸集團有限公司（「本公司」）董事會（「董事會」）謹此公佈，本公司將於二零二五年八 月二十八日（星期四）舉行董事會會議，藉以（其中包括）考慮及通過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之中期業績及其發佈，及考慮派發中期股息（如有）。 於本公告日期，本公司執行董事為王瑤女士、金曉琴女士及葉莉盈女士；及本公司獨立非執行 董事為吳麗文博士、文耀光先生及浦炳榮先生。 ...

Core Viewpoint - The company, Global Credit Group, has announced the signing of twelve renewal loan agreements with borrowers A, B, and C, involving a total secured loan amount of HKD 30.583 million, effective from August 1, 2025 [1] Group 1 - The total amount of the secured loans is HKD 30.583 million [1] - The agreements involve three borrowers identified as Client A, Client B, and Client C [1] - The loans are set to be effective from August 1, 2025 [1]

Core Viewpoint - Global Credit Group (01669) announced the signing of twelve renewal loan agreements with clients A, B, and C, involving a total secured loan amount of HKD 30.583 million, effective from August 1, 2025 [1] Group 1 - The company’s indirect wholly-owned subsidiary, Global Credit, will act as the lender in these agreements [1] - The total amount of the secured loans is HKD 30.583 million [1] - The agreements are part of a broader strategy to maintain lending relationships with existing clients [1]