[**Company Information**](index=3&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) The company's board members include executive, non-executive, and independent non-executive directors, with stock code 1736 and website www.ci123.com - Board members include executive directors Zhang Lake Mozi (Chairman) and Cheng Li; non-executive directors Zhang Haihua and Song Yuanyuan; and independent non-executive directors Zhao Zhen, Huang Mengting, and Pan Wenni[6](index=6&type=chunk) - The company's stock code is **1736**, and its website is www.ci123.com[8](index=8&type=chunk) [**Summary**](index=5&type=section&id=%E6%91%98%E8%A6%81) The company experienced a significant revenue decline but improved gross profit, while net loss increased substantially for the six months ended June 30, 2025 Key Financial Indicators for the Six Months Ended June 30, 2025 (RMB'000) | Indicator | June 30, 2025 (Unaudited) | June 30, 2024 (Unaudited) | Change | | :--- | :--- | :--- | :--- | | Revenue | 9,475 | 16,539 | -42.7% | | Gross Profit | 2,686 | 1,599 | +68.0% | | Loss for the Period | (21,925) | (10,262) | +113.6% | | Total Loss Attributable to Owners of the Company | (21,925) | (10,262) | +113.6% | [**Management Discussion and Analysis**](index=6&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) This section provides an overview of the company's business, financial performance, and future strategies, including risk factors and investment policies [**Business Review**](index=6&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) Yu'erwang focuses on serving young Chinese families by providing personalized smart home solutions through content, private domain, e-commerce, and O2O services - Yu'erwang focuses on serving young Chinese families, providing personalized smart home solutions through four matrices: content, private domain, e-commerce, and O2O services, to cover the entire family consumption chain[11](index=11&type=chunk) - Deeply engaging with new-generation maternal and infant families, enhancing high-quality content productivity, and collaborating with professional institutions like the China National Committee for the Wellbeing of the Youth and the National Health Commission to develop 0-6 year-old parent school curriculum systems and content co-creation projects[12](index=12&type=chunk) - The community matrix's total coverage exceeded **5.26 million person-times**, with a total of **27,300+ communities**, building a professional, full-chain health operation map to activate private domain GMV[12](index=12&type=chunk) - Through content empowerment, platform operations, public relations marketing, local life services, channel management, and smart services across the entire family consumption chain, the company creates an open, multi-scenario ecosystem to achieve external circulation of communication effects and generate more brand value increments[13](index=13&type=chunk) - Yu'erwang has **25,000+ maternal and infant stores** using the Mamishop SaaS system, **40,000+ educational institutions** using the Yu'erwang Education System Jiaowubao, and the Parent-Child Weekend platform serves **tens of thousands of offline merchants**, with accumulated **30 million family trips**[14](index=14&type=chunk) [**Future Outlook**](index=7&type=section&id=%E6%9C%AA%E4%BE%86%E5%B1%95%E6%9C%9B) Yu'erwang will continue to innovate and improve its ecosystem to provide personalized smart home solutions for young Chinese families and drive brand growth - The company will continue to innovate and progress, constantly improving its ecosystem layout, committed to providing personalized smart home solutions for young Chinese families[15](index=15&type=chunk) - To help brands achieve sustained business growth[15](index=15&type=chunk) [**Financial Review**](index=7&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) Revenue significantly declined due to reduced e-commerce wholesale and advertising, but lower sales costs boosted gross profit, while loss for the period increased due to subsidiary disposals and other factors - Revenue was approximately **RMB9.5 million**, a decrease of approximately **43%** from the same period last year, primarily due to reduced e-commerce wholesale and a decline in advertising and promotion business in the first half of the year[16](index=16&type=chunk) - Cost of sales was approximately **RMB6.8 million**, a decrease of approximately **55%** from the same period last year, mainly due to fewer orders during the current period[17](index=17&type=chunk) - Gross profit was approximately **RMB2.7 million**, an increase of approximately **68%** from the same period last year; gross profit margin increased from approximately **9.7%** to approximately **28.3%**, as APP product maintenance expenses were concentrated in 2024 and returned to normal in 2025[18](index=18&type=chunk) - Other income, gains and losses resulted in a loss of approximately **RMB8.0 million**, a decrease of approximately **226%** from the same period last year, primarily due to the disposal of two subsidiaries[19](index=19&type=chunk) - Selling and distribution expenses were approximately **RMB2.7 million**, a decrease of approximately **59%** from the same period last year, mainly due to sluggish market conditions[20](index=20&type=chunk) - Administrative expenses were approximately **RMB7.7 million**, an increase of approximately **8%** from the same period last year, mainly due to increased intermediary fees[21](index=21&type=chunk) - Research and development costs were approximately **RMB2.8 million**, an increase of approximately **35%** from the same period last year, mainly due to increased investment in technology development[22](index=22&type=chunk) - Income tax expense was approximately **RMB0.4 million**, with no income tax expense in the same period last year[23](index=23&type=chunk) - Loss for the period was approximately **RMB21.9 million**, an increase of approximately **114%** from the same period last year[24](index=24&type=chunk) [**Gearing Ratio**](index=8&type=section&id=%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E6%AF%94%E7%8E%87) As of June 30, 2025, the Group's gearing ratio (total liabilities divided by total assets) was 137%, an increase from 112% on December 31, 2024 - Gearing ratio: **137%** (June 30, 2025) vs **112%** (December 31, 2024)[25](index=25&type=chunk) [**Liquidity and Financial Resources**](index=8&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%92%8C%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) As of June 30, 2025, the Group had net current liabilities of approximately RMB27.0 million, cash and cash equivalents of RMB4.2 million, and borrowings of RMB23.5 million - Net current liabilities approximately **RMB27.0 million** (June 30, 2025) vs approximately **RMB20.4 million** (December 31, 2024)[26](index=26&type=chunk) - Cash and cash equivalents approximately **RMB4.2 million** (June 30, 2025) vs approximately **RMB2.8 million** (December 31, 2024)[26](index=26&type=chunk) - Borrowings approximately **RMB23.5 million** (June 30, 2025) vs approximately **RMB21.5 million** (December 31, 2024)[26](index=26&type=chunk) [**Foreign Exchange Risk**](index=8&type=section&id=%E5%A4%96%E5%BD%99%E9%A2%A8%E9%9A%AA) The Group's transactions are primarily settled in RMB, with some cash and bank deposits in HKD; no significant operational impact or liquidity issues from exchange rate fluctuations occurred - The Group's transactions are primarily settled in RMB, with some cash and bank deposits settled in HKD[27](index=27&type=chunk) - During the period, no significant operational impact or liquidity difficulties resulted from exchange rate fluctuations, nor were there any hedging transactions or forward contract arrangements[27](index=27&type=chunk) [**Employees, Training and Remuneration Policies**](index=9&type=section&id=%E5%83%B1%E5%93%A1%E3%80%81%E5%9F%B9%E8%A8%93%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of June 30, 2025, the Group had 33 employees with total staff costs of approximately RMB1.9 million, and provides training based on performance and tenure - As of June 30, 2025, the Group had a total of **33 employees** (including executive directors), a decrease from **41** as of June 30,

Group 1 - The board meeting of China Parenting Network (01736.HK) is scheduled for August 29, 2025, at 2 PM in Nanjing, Jiangsu Province, to discuss various matters [1] - The agenda includes reviewing and approving the unaudited consolidated interim results for the six months ending June 30, 2025 [1] - The board will also consider the declaration of an interim dividend for the six months ending June 30, 2025, if applicable [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，並明確表示概不就因本公告全部或 任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 1. 省覽及批准本集團截至二零二五年六月三十日止六個月之未經審核綜合中期 業績（「中期業績」）； 2. 批准將於香港聯合交易所有限公司網站及本公司網站刊登中期業績公告； 3. 考慮宣派截至二零二五年六月三十日止六個月之中期股息（ 如有 ）；及 4. 處理其他事項（ 如有）。 中 國 育 兒 網 絡 控 股 有 限 公 司（「 本 公 司 」及 其 附 屬 公 司 ， 統 稱「 本 集 團 」）董 事（「 董 事」）會（「董事會」）謹此公佈，董事會會議將於二零二五年八月二十九日（ 星期五 ） 下午2 時 正假座中華 人民共和 國江蘇省 南京市南 理工科技創 新園3 層301 室舉 行， 商討下列事項： 承董事會命 中國育兒網絡控股有限公司 主席 Zhang Lake Mozi 中華人民共和國南京，二零二五年八月十八日 於本公告日期，執行董事包 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國育兒網絡控股有限公司 呈交日期： 2025年8月4日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) 01736 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | 事件 | 已發行股份（不包括庫存股份）數 | | 佔有關事件前 ...

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7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國育兒網絡控股有限公司 呈交日期: 2025年8月1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) | 01736 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 250,000,000 | HKD | | 0.4 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 250,000,000 | HKD | | 0.4 | HKD | | 100,000,000 | 本月底法定/註冊股本總額 ...

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，並明確表示概不會就本公告全部或 任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 China Parenting Network Holdings Limited 中 國 育 兒 網 絡 控 股 有 限 公 司 （股份代號：1736） （於開曼群島註冊成立之有限公司） 有關建議已發行合併股份之股本削減及 拆細未發行合併股份的最新情況 茲提述中國育兒網絡控股有限公司（「本公司」）日期為二零二五年三月二十六日、 二零二五年四月二日及二零二五年七月七日的公告及本公司日期為二零二五年四 月二十三日的通函（「通函」），內容有關（ 其中包括 ）股本削減及股份拆細。除另有 界定者外，本公告所用詞彙與通函所界定者具有相同涵義。 有關股本削減及股份拆細的最新情況 董事會欣然宣佈，股本削減已獲法院確認，而法院授出確認股本削減之命令副本 及法院批准之會議記錄（ 載有公司法規定有關股本削減之詳情 ）已於開曼群島公司 註冊處登記。本公司進一步宣佈 ...

Group 1 - The core viewpoint of the news highlights the recent performance of China Parenting Network (01736.HK), which saw a significant increase in stock price by 100% on July 29, closing at 1.1 HKD per share, despite a year-to-date decline of 12.2% [1] - The company reported total revenue of 56.439 million CNY for the year ending December 31, 2024, a decrease of 1.75% year-on-year, while the net profit attributable to the parent company was -5.281 million CNY, an increase of 89.04% year-on-year [1] - The gross profit margin for China Parenting Network stands at 27.65%, with a debt-to-asset ratio of 112.31% [1] Group 2 - China Parenting Network is recognized as a leading platform in the maternal and child care sector in China, established in 2006 and listed on the Hong Kong Stock Exchange in 2015 [2] - The company has expanded its services over 15 years to cover the needs of families from pregnancy to children aged 12, utilizing a content and community-driven approach through various platforms including apps and e-commerce [2] - The company is focused on digitalizing the maternal and child industry in China through a comprehensive SaaS solution that supports the entire ecosystem [2]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 56,439,000, a decrease of 1.8% from RMB 57,444,000 in 2023[11] - The gross profit for the same period was RMB 15,603,000, significantly up from RMB 2,501,000 in the previous year, indicating a substantial improvement in profitability[11] - The net loss attributable to the company's owners narrowed to RMB 5,281,000 from RMB 48,181,000 in 2023, reflecting a recovery in financial performance[11] - The company's revenue for the year ending December 31, 2024, was approximately RMB 56.4 million, a decrease of about 1.7% compared to RMB 57.4 million for the year ending December 31, 2023[24] - Sales cost for the year ending December 31, 2024, was approximately RMB 40.8 million, a decrease of about 25.7% from RMB 54.9 million for the year ending December 31, 2023[25] - Gross profit for the year ending December 31, 2024, was approximately RMB 15.6 million, an increase of about 524% from RMB 2.5 million for the year ending December 31, 2023[26] - The gross margin increased from approximately 4.4% for the year ending December 31, 2023, to approximately 27.7% for the year ending December 31, 2024[26] - Other income, gains, and losses for the year ending December 31, 2024, were approximately RMB 10.5 million, an increase of about 425% from RMB 2.0 million for the year ending December 31, 2023[27] - Sales and distribution expenses for the year ending December 31, 2024, were approximately RMB 5.0 million, a decrease of about 63.5% from RMB 13.7 million for the year ending December 31, 2023[28] - Administrative expenses for the year ending December 31, 2024, were approximately RMB 12.4 million, a decrease of about 10.8% from RMB 13.9 million for the year ending December 31, 2023[29] - The company achieved significant growth in overseas revenue, which reached approximately RMB 14.6 million, an increase of about 217.4% from RMB 4.6 million for the year ending December 31, 2023[24] - The net loss for the year ended December 31, 2024, was approximately RMB 5.3 million, a reduction of about 89% from a net loss of RMB 48.2 million for the year ended December 31, 2023[32] - The loss per share for the year was approximately RMB 0.016, a decrease of about 91.9% compared to RMB 0.197 in 2023[33] Strategic Initiatives - The company plans to enhance AI technology research and development, focusing on innovative products like smart parenting assistants[13] - A new service model combining elderly care and maternal and infant services will be piloted, leveraging the newly established "Worry-Free Nursing Home" content IP[13] - The company aims to explore opportunities in emerging markets such as Southeast Asia to foster long-term growth[13] - The company continues to optimize digital tools and service models to create more value for partners and achieve mutual benefits[12] - The company plans to innovate continuously and expand its service offerings to address the needs of aging families, introducing a new content IP focused on elderly care[23] - The company aims to expand its family-related services by leveraging internet technology to meet the evolving needs of new-generation family consumers[54] - The company plans to reduce costs and quickly enter new industries through investments in companies engaged in new sectors such as social retail and family healthcare[54] Investment and Financial Management - The company is shifting its investment strategy to focus on AI technology and its applications, aiming to capitalize on rapid market changes and digital transformation[48] - The company has provided loans to third parties with annual interest rates ranging from 6.0% to 8.0%, with loan terms of 12 to 36 months, aligning with long-term interests[50] - As of December 31, 2024, the company has provided loans totaling RMB 12 million to Nanjing Qianyu Information Technology Co., Ltd., with a 36-month term and a 6% interest rate[51] - The company has received repayments of RMB 878,700 from Shenzhen Feishikang Technology Co., Ltd., with a remaining amount of RMB 181,300 due[52] - The company prefers long-term investments, typically targeting entities involved in the maternal and child market and related technology development[55] - The company’s investment policy emphasizes strategic cooperation and compliance with legal regulations, generally limiting its equity stake in target entities to no more than 20%[55] - The company expects investments in technology upgrades, content enrichment, and expanded value-added services to enhance operational efficiency and user experience[56] - The investment team, consisting of senior executives, continuously monitors market influence and technological developments in the maternal and child business chain[56] - The company requires invested entities to use funds solely for agreed business development projects, ensuring strict financial risk management[56] Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all provisions for the fiscal year ending December 31, 2024[65] - The board consists of seven members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[71] - The independent non-executive directors play a crucial role in providing unbiased opinions on the company's strategy and performance, ensuring shareholder interests are considered[76] - The company has mechanisms in place to seek independent professional advice when necessary, ensuring informed decision-making by the board[74] - The company has not identified any violations of the written guidelines for employees regarding securities trading for the fiscal year ending December 31, 2024[68] - The board is committed to regular reviews of its corporate governance practices to ensure compliance with the governance code[66] - The chairman and CEO roles are separated to maintain a balance of power and authority within the company[73] - The board consists of 7 members, including 2 female directors, indicating a certain level of gender diversity compared to a single-gender board[83] - All directors have received training on their roles and responsibilities, with participation in various training sessions covering corporate governance and industry trends[84] - The board held a total of 4 regular meetings in 2024, with all directors having access to relevant documents and the ability to include discussion items in the agenda[88] - The company has arranged appropriate insurance coverage for potential legal actions against directors and senior management[85] - The company held its annual general meeting on June 15, 2024, and special meetings on March 13 and March 15, 2024, with attendance records for directors noted[89] - Directors are required to retire at least once every three years and must be re-elected at the annual general meeting[91] - The board has established committees including the audit committee, remuneration committee, and nomination committee, with sufficient resources to fulfill their responsibilities[93] - The company has a diversity policy for board recruitment and promotion, ensuring a diverse candidate pool for management positions[83] - The company has a continuous professional development policy for directors, ensuring they stay updated on governance and regulatory changes[84] - The company plans to reappoint directors who are retiring at the upcoming annual general meeting, with all retiring directors eligible and willing to stand for re-election[92] Risk Management - The company emphasizes the importance of effective risk management and internal controls for long-term sustainability, with the board responsible for maintaining these systems[108] - The risk management framework aims to enhance risk management and internal controls in accordance with listing rules, ensuring baseline risks remain within acceptable limits[109] - The company adopts a three-tier risk management approach to dynamically identify, assess, mitigate, and respond to risks across all business aspects[110] - The internal control system is designed based on the COSO framework, focusing on control environment, risk assessment, control activities, information and communication, and monitoring[111] - The board and audit committee review the effectiveness of the risk management and internal control systems biannually, ensuring they are adequate and effective[113] - The company has established a policy for insider information disclosure, ensuring compliance with relevant regulations and maintaining transparency[114] - The company is committed to maintaining clear and timely communication with shareholders and investors through various reports and announcements[115] Shareholder Information - The company did not declare any interim dividends during the fiscal year ending December 31, 2024, and the board does not recommend a final dividend for the twelve months ending December 31, 2024, consistent with the previous year[128] - The company’s available distributable reserves as of December 31, 2024, are approximately RMB zero, unchanged from the previous year[137] - The board of directors will present the audited accounts for the fiscal year ending December 31, 2024, at the annual general meeting[123] - The company’s main business is investment holding, with details of subsidiaries' primary operations included in the consolidated financial statements[124] - The company has established a dividend policy, which requires any final dividend to be approved by shareholders at the general meeting and cannot exceed the amount recommended by the board[121] - The company will hold its 2024 annual general meeting on June 30, 2025[129] - The company has not purchased, sold, or redeemed any of its listed securities during the year[135] - The board believes that the shareholder communication policy has been effectively implemented for the fiscal year ending December 31, 2024[120] Compliance and Regulatory Matters - The company has taken all reasonable actions to ensure compliance with qualification requirements for foreign investors in the value-added telecommunications sector in China[162] - The independent non-executive directors have confirmed that the ongoing related party transactions are conducted in the ordinary course of business and on normal commercial terms[165] - Nanjing Xinchang and Nanjing Xihui hold several licenses and permits necessary for conducting their primary business operations[173] - The company will continue to liaise with relevant government authorities to provide updated information as needed[162] - The contractual arrangement allows the company to control the operations and enjoy all economic benefits of its Chinese contractual entities[174] - There are risks associated with the contractual arrangements being deemed compliant with current and future Chinese laws and regulations[192] - The company is subject to foreign ownership restrictions in China, limiting foreign investment in value-added telecommunications services to a maximum of 50%[193] - The company must comply with the Ministry of Industry and Information Technology's regulations regarding ICP licenses and cannot lease or transfer these licenses to foreign investors[194] - The exclusive purchase rights agreement remains effective throughout the existence of the Chinese contractual entity, unless terminated by the company with a 30-day notice[189] - The new foreign investment law draft introduces new standards for defining domestic enterprises, which could affect the company's operational structure[197] - The company may be required to restructure its ownership or business operations if existing contractual arrangements are deemed non-compliant with future regulations[196] - The potential for regulatory actions could include the termination of business licenses or contracts, impacting the company's operations in China[196] - The company is at risk of being forced to divest its main business to comply with regulatory requirements if its operations are classified as foreign investment[197] - The business's ability to continue operating under existing contractual arrangements may depend on the final adoption of the new foreign investment law and its interpretations[197] - The company acknowledges the risk of being unable to consolidate the financial performance of its Chinese contractual entities if regulatory changes occur[198]

2 ' = 中 報 期 神宣儿网 China Parenting Network Holdings Limited 中國育兒網絡控股有限公司 ( 於開曼群島註冊成立的有限責任公司 ) 股份代號：1736 四 | --- | --- | |------------------------------|-------| | | 頁次 | | 公司資料 | 02 | | 摘要 | 04 | | 管理層討論與分析 | 05 | | 企業管治及其他資料 | 19 | | 簡明綜合損益及其他全面收益表 | 27 | | 簡明綜合財務狀況表 | 29 | | 簡明綜合權益變動表 | 31 | | 簡明綜合現金流量表 | 32 | | 簡明綜合財務報表附註 | 33 | 公司資料 董事會 執行董事 | --- | |--------------------------------------------------------| | | | Zhang Lake Mozi 先生(主席) | | 程力先生 | | 林洛锋先生(於二零二四年六月十三日辭任) | | Ng Kwok Ying Isabella 女士(於二零二四年六 ...

Share Issuance - The company issued 7,317,073 shares at a subscription price of HKD 0.041 per share, representing a discount of approximately 12.77% from the market price on the subscription date[1] - A subsequent agreement on May 4, 2023, involved the subscription of 26,086,956 shares at HKD 0.023 per share, reflecting a discount of about 11.54% from the market price[2] - On June 12, 2023, the company issued 91,733,750 shares at a subscription price of HKD 0.023 per share, with a discount of approximately 17.86% from the market price[3] - On July 11, 2023, the company issued 41,893,074 shares at a subscription price of HKD 0.1525 per share, reflecting a discount of approximately 19.74% from the market price[5] Proceeds from Share Issuance - The total proceeds from the subscription amounted to HKD 300,000, with a net amount of approximately HKD 266,000 after expenses of about HKD 34,000[1] - The net proceeds from this subscription were approximately HKD 296,000 after deducting expenses of about HKD 34,000[2] - The total proceeds from this subscription were HKD 2.1 million, with a net amount of approximately HKD 1.95 million after expenses of about HKD 150,000[3] - The total proceeds from this subscription were approximately HKD 6.4 million, with a net amount of about HKD 6.37 million after expenses of around HKD 35,000[5] Loan Capitalization - The company entered into a loan capitalization agreement on June 12, 2023, issuing 91,733,750 shares at HKD 0.023 per share to capitalize outstanding loans[4] Convertible Bonds - The company proposed to issue convertible bonds with a principal amount of approximately HKD 28.29 million at an initial conversion price of HKD 0.076 per share[6]