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。 ENTERPRISE DEVELOPMENT HOLDINGS LIMITED 企 展 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號: 1808） 有關 出售上市證券的 須予披露交易 由於出售事項的一個或多個適用百分比率（根據上市規則第14.23條以合併基準 計算過去十二個月出售的PLTR股份）超過5%但低於25%，因此出售事項構成上 市規則第14.06(2)條項下本公司的須予披露交易。故此，出售事項須遵守上市規 則第14章項下之申報及公告規定。 - 1 - 出售事項 董事會宣佈，於二零二五年一月二十二日至二零二五年八月六日期間，本公司之 全資附屬公司企展香港於市場上出售了合共 30,000 股 PLTR 股份，價格介乎 76.94 美元至 175.27 美元之間（不包括交易成本）。每股 PLTR 股份的平均價（不 包括交易成本）約為 143.34 美元，而總出售價為 4,300 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 企展控股有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01808 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,0 ...

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。 誠如該等公告中披露，一份載有（其中包括）(i)購買事項（有關Tesla股份）；(ii) 出售事項（有關Tesla、波音、Meta、NVDA及ProShares UltraPro股份）; (iii) 出售授權及潛在出售事項；及(iv)股東特別大會通告，及其他上市規則要求之資 料的該通函預期於二零二五年七月三十一日或之前寄發予股東。由於需要額外時 間準備及落實若干資料以載入該通函內，預期該通函將進一步延遲寄發至二零二 五年九月三十日或之前。 ENTERPRISE DEVELOPMENT HOLDINGS LIMITED 企展控股有限公司 （於開曼群島註冊成立之有限公司） （股份編號: 1808） 進一步延遲寄發股東通函有關 ( 1 )購買及出售證券事項之主要交易及非常重大出售事項； ( 2 )潛在非常重大出售事項－出售上市證券事項之授權；及 ( 3 )糾正違反上市規則事宜 茲提述企展控股有限公司（「本公司」 ...

Group 1 - Company sold a total of 37,002 shares of AMD between February 4, 2025, and July 15, 2025, at an average price of approximately $137.72 per share, totaling $5,095,949 [1] - Company sold 6,000 shares of Meta on July 15, 2025, at a price of $715.70 per share, totaling $4,294,198 [1] - Company sold a total of 9,000 shares of Meta between June 2, 2025, and July 15, 2025, at an average price of approximately $702.85 per share, totaling $6,325,639 [1] Group 2 - Company sold a total of 48,000 units of ProShares UltraPro between May 13, 2025, and July 15, 2025, at an average price of approximately $81.77 per unit, totaling $3,925,072 [2] - Company sold a total of 47,017 shares of NVDA between February 4, 2025, and July 15, 2025, at an average price of approximately $143.93 per share, totaling $6,767,138 [2] - As of the announcement date, the company holds no shares of AMD, Meta, ProShares UltraPro, or NVDA [3]

Group 1 - Company Qizhan Holdings (01808.HK) announced a partnership agreement involving its indirect wholly-owned subsidiary Beijing Qizhan Edge Computing, which will invest a total of RMB 120 million in Beijing Qitong Fuyuan Enterprise Management Center (Limited Partnership) [1] - The investment structure includes Beijing Qizhan Edge Computing as the general partner contributing RMB 50 million (41.67% stake), while two limited partners contribute RMB 50 million and RMB 20 million, holding 41.67% and 16.67% stakes respectively [1] - The total capital contribution to Qitong Fuyuan will be funded through internal resources of the group [1] Group 2 - Qitong Fuyuan entered into a partnership agreement with Yayi Gongchuang and Chen Zhansheng to jointly invest in Hainan Yayi Gongying Technology Partnership (Limited Partnership) with a total capital contribution of RMB 200 million [2] - Yayi Gongchuang will act as the general partner contributing RMB 30 million (15% stake), while Qitong Fuyuan and Chen Zhansheng will contribute RMB 120 million and RMB 50 million, holding 60% and 25% stakes respectively [2] - The capital contribution from Qitong Fuyuan will be allocated from its total commitment of RMB 120 million [2]

Financial Performance - The company reported a consolidated net profit attributable to shareholders of approximately RMB 72,737,000 for the year ending December 31, 2024, compared to RMB 5,550,000 in 2023, indicating a significant increase [4]. - For the fiscal year ending December 31, 2024, the company reported revenue of approximately RMB 408,585,000, a significant increase of 576% compared to RMB 60,646,000 in 2023 [17]. - Gross profit for the fiscal year was approximately RMB 46,014,000, up from RMB 26,045,000 in 2023, but the gross profit margin decreased to 11% from 43% due to a higher proportion of lower-margin server hardware sales [18]. - The significant increase in profit was primarily due to the growth in software and hardware business revenue and gains from the sale of financial assets measured at fair value [50]. - The company recorded a profit of approximately RMB 73,561,000, a significant increase from RMB 3,801,000 in 2023 [25]. Expenses and Costs - Distribution expenses amounted to RMB 21,921,000, general and administrative expenses were RMB 41,868,000, financial expenses totaled RMB 9,186,000, and income tax expenses were RMB 1,727,000 for the reporting period [4]. - Distribution expenses rose to RMB 21,921,000 from RMB 15,918,000 in 2023, primarily due to increased employee costs and sales expenses in the software and hardware business [19]. - General and administrative expenses increased to RMB 41,868,000 from RMB 22,573,000 in 2023, attributed to higher employee costs, professional fees, travel expenses, and trading costs of listed securities [20]. - Financing costs surged to RMB 9,186,000 from RMB 918,000 in 2023, reflecting increased interest expenses on borrowings [21]. Strategic Focus and Future Plans - The company is focusing on the digital economy, emphasizing data elements, data asset operations, and AI computing, aiming to provide integrated digital technology solutions [5]. - Future strategies include building a "three chains and one circle" framework focusing on innovation, industry, and finance, along with business model innovation and ecological industry layout [5]. - The company plans to leverage its technological strengths in big data, large models, and computing power to enhance its competitive advantage in data operations and digital transformation [5]. Shareholder and Corporate Governance - The company expressed gratitude to shareholders, business partners, and employees for their support and hard work, committing to continue achieving strong results [6]. - The company does not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year [49]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors [62]. - The company is committed to maintaining high standards of corporate governance to enhance shareholder value [58]. Cash Flow and Financial Position - As of December 31, 2024, the company's cash and cash equivalents amounted to approximately RMB 160,575,000, down from RMB 177,805,000 in 2023 [26]. - The current ratio as of December 31, 2024, was approximately 3.75, a decrease from 7.69 in 2023 [26]. - The company’s debt as of December 31, 2024, was approximately RMB 32,252,000, an increase from RMB 19,816,000 in 2023, with a fixed interest rate ranging from 2.7% to 10% [26]. Environmental, Social, and Governance (ESG) Initiatives - The company has implemented a comprehensive ESG management system integrated into its governance framework [132]. - A dedicated team has been established to oversee all ESG-related matters and report annually on ESG performance to the board [132]. - The company emphasizes its commitment to reducing its carbon footprint as part of its social responsibility [132]. - The company has implemented effective measures to minimize its environmental footprint, primarily from vehicle usage and electricity consumption, with a notable improvement in environmental performance compared to the previous year [149]. Employee and Labor Practices - Employee costs for the year amounted to approximately RMB 32,302,000, an increase from RMB 25,182,000 in 2023 [47]. - The employee turnover rate for 2024 was 20%, an increase from 17% in 2023, with male turnover at 23% and female turnover at 11% [185]. - The company has a zero-tolerance policy for child labor and forced labor, strictly adhering to local labor laws [191]. - The employee retention strategy includes team-building activities and promoting work-life balance [185]. Risk Management and Compliance - The company has established a risk management and internal control system to identify and manage risks affecting its strategic and financial goals [124]. - The company maintains a zero-tolerance policy towards corruption, bribery, extortion, fraud, and money laundering, implementing multiple internal control measures to minimize such activities [199]. - The company has established an ISO 9001 quality management system, demonstrating its commitment to quality and customer satisfaction [195].

Financial Performance - Total revenue for the year ended December 31, 2024, reached RMB 408,585,000, a significant increase of 573.5% compared to RMB 60,646,000 in 2023[2] - Gross profit for the same period was RMB 46,014,000, up from RMB 26,045,000, reflecting a growth of 76.8%[2] - Operating profit surged to RMB 84,474,000, compared to RMB 4,322,000 in the previous year, marking an increase of 1,960.4%[3] - Net profit attributable to equity holders was RMB 72,737,000, a substantial rise from RMB 5,550,000, representing an increase of 1,115.5%[3] - Basic and diluted earnings per share increased to RMB 0.321 from RMB 0.033, reflecting a growth of 871.2%[3] - Total comprehensive income for the year was RMB 78,791,000, compared to RMB 6,374,000 in 2023, indicating a growth of 1,136.5%[5] - The company recorded a significant gain from the sale of financial assets, with realized gains of RMB 99,138,000 in 2024 compared to RMB 23,854,000 in 2023, representing an increase of about 315%[28] - For the fiscal year ending December 31, 2024, the group recorded a profit of approximately RMB 73,561,000, a significant increase from RMB 3,801,000 in 2023, representing a growth of over 1,838%[52] Revenue Sources - The company reported a significant increase in software sales, with revenue from software licenses and hardware products reaching RMB 371,808,000, up from RMB 24,395,000, a growth of 1,426.5%[15] - The software and hardware business generated revenue of RMB 407,756,000 in 2024, a significant increase from RMB 60,084,000 in 2023, representing a growth of approximately 577%[21] - Major customer C1 contributed RMB 142,124,000 to the revenue in 2024, while major customer D1 contributed RMB 164,956,000, indicating strong reliance on key clients[27] Assets and Liabilities - Non-current assets increased to RMB 43,973,000 from RMB 12,483,000, reflecting a growth of 252.5%[7] - Current assets totaled RMB 516,109,000, compared to RMB 290,281,000 in the previous year, indicating an increase of 77.8%[7] - The company's total equity increased to RMB 421,125,000 from RMB 264,141,000, representing a growth of 59.5%[8] - Total assets for the reportable segment increased to RMB 549,483,000 in 2024 from RMB 269,922,000 in 2023, reflecting a growth of about 103%[23] - Reportable segment liabilities rose to RMB 130,698,000 in 2024, up from RMB 29,627,000 in 2023, marking an increase of approximately 341%[23] - The company’s total liabilities increased to RMB 138,957,000 in 2024 from RMB 38,623,000 in 2023, reflecting a growth of approximately 260%[23] Cash Flow and Investments - As of December 31, 2024, the group's cash and cash equivalents amounted to approximately RMB 160,575,000, down from RMB 177,805,000 in 2023, indicating a decrease of about 9.5%[53] - The company invested RMB 35,443,000 in non-current assets during the year, up from RMB 7,761,000 in the previous year, indicating a focus on expansion and development[21] - The group raised approximately HKD 85,293,000 from the placement of 40,810,000 shares at a price of HKD 2.09 per share, with net proceeds of about HKD 84,347,000 after expenses[60] - The group intends to allocate approximately 96% of the net proceeds from the rights issue (about HKD 98,553,000) for general operating funds related to the industrial park software project[65] - The company invested 15% equity in Beijing Longteng Haida Technology Development Co., Ltd. to enhance market penetration in the Chinese enterprise sector, leveraging its technology advantages in cloud platforms and AI tools[70] Expenses and Costs - Financing costs increased to RMB 9,186,000 in 2024 from RMB 918,000 in 2023, attributed to higher interest expenses on borrowings[48] - Distribution expenses rose to RMB 21,921,000 in 2024 from RMB 15,918,000 in 2023, driven by increased employee and sales costs[45] - Employee costs for the year amounted to approximately RMB 32,302,000, an increase from RMB 25,182,000 in the previous year, with a total of 130 full-time employees as of December 31, 2024[77] Strategic Outlook - The company aims to enhance its position in the digital economy, focusing on data elements, data asset operations, and artificial intelligence computing[83] - Future strategies include building a "three chains and one circle" framework, focusing on innovation, industry, and finance for overall synergy[83] - The company plans to leverage its technological and capital advantages to empower various nodes in the industrial ecosystem through investment and incubation[84] - The company will continue to optimize its advantages in data elements and edge computing to promote business innovation and create shareholder value[84] Dividends and Share Issuance - The company did not declare any dividends for the year ended December 31, 2024, consistent with 2023[31] - The board did not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[80] - The company’s weighted average number of ordinary shares increased to 226,490,234 in 2024 from 168,968,574 in 2023, reflecting the issuance of new shares[32] Audit and Compliance - The audit committee has reviewed the audited financial statements for the year ending December 31, 2024[94] - No purchases, sales, or redemptions of the company's listed securities were made during the year ending December 31, 2024[86]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 127,590,000, representing a significant increase of 333% compared to RMB 29,434,000 for the same period in 2023[5] - Gross profit for the same period was RMB 33,272,000, up 214% from RMB 10,568,000 year-on-year[5] - Operating profit increased to RMB 26,414,000, a rise of 408% compared to RMB 5,199,000 in the previous year[5] - Profit before tax reached RMB 22,609,000, compared to RMB 4,651,000 for the same period last year, marking an increase of 386%[5] - Net profit for the period was RMB 19,097,000, up 306% from RMB 4,682,000 in the prior year[5] - Total comprehensive income for the period was RMB 16,312,000, compared to RMB 9,659,000 in the same period last year, reflecting a growth of 69%[7] - The group reported a total adjusted profit before tax of RMB 27,752 thousand for the six months ended June 30, 2024, compared to RMB 7,721 thousand in the same period last year, reflecting an increase of 260%[24] - The group recorded a net profit attributable to shareholders of approximately RMB 19,109,000 for the six months ended June 30, 2024, compared to RMB 5,098,000 for the same period last year, representing a significant increase[59] Cash Flow and Assets - The company's cash and cash equivalents increased to RMB 208,678,000 from RMB 177,805,000 at the end of 2023, showing a growth of 17%[10] - Trade and other receivables rose significantly to RMB 181,724,000 from RMB 59,462,000, indicating an increase of 205%[10] - Total assets as of June 30, 2024, were RMB 441,066,000, compared to RMB 290,281,000 at the end of 2023, representing a growth of 52%[10] - The company's equity attributable to owners increased to RMB 307,387,000 from RMB 212,888,000, reflecting a rise of 44%[11] - The total assets of the reportable segment increased to RMB 372,541 thousand as of June 30, 2024, compared to RMB 269,922 thousand as of December 31, 2023, marking a growth of 38%[25] Revenue Breakdown - The software business generated external customer revenue of RMB 126,865 thousand for the six months ended June 30, 2024, compared to RMB 29,434 thousand for the same period in 2023, representing a significant increase of 329%[22] - Revenue from software maintenance and other services amounted to RMB 49,347 thousand, while software products and other product sales totaled RMB 78,243 thousand for the six months ended June 30, 2024[28] - The overall software business gross margin decreased from 36% in the same period last year to 26% due to a higher proportion of lower-margin server hardware sales[65] Financing and Costs - The company incurred financing costs of RMB 3,744,000 for the six months ended June 30, 2024, compared to RMB 489,000 in 2023, showing a substantial rise in financing expenses[30] - Financing costs increased to approximately RMB 3,805,000 for the six months ended June 30, 2024, compared to RMB 548,000 for the same period in 2023, due to increased interest expenses[65] - The group’s general and administrative expenses for the six months ended June 30, 2024, were approximately RMB 14,548,000, an increase of 47% from RMB 9,880,000 for the same period in 2023[67] Shareholder Information - The basic and diluted earnings per share for the six months ended June 30, 2024, were based on a weighted average of 207,890,108 shares, compared to 133,277,036 shares for the same period in 2023, reflecting an increase in share count[33] - The total issued and paid-up ordinary shares increased to 244,888,185 as of June 30, 2024, from 204,078,185 as of December 31, 2023[47] - The company issued new shares, raising RMB 90,653 thousand after expenses[13] - The company successfully issued 40,810,000 placement shares at a price of HKD 2.09 per share, raising approximately HKD 85,293,000 in total proceeds[73] Strategic Initiatives - The company aims to enhance its position in the digital economy by focusing on data elements, data asset operations, and artificial intelligence computing and edge computing[63] - Future strategies include building a collaborative ecosystem focusing on innovation, industry, and finance, and leveraging technological advantages in big data and computing power[63] - The company plans to continue optimizing its advantages in data operations and promote the integration of digital and physical sectors to drive long-term development[63] Employee and Management Information - Key management personnel compensation increased significantly to RMB 5,977,000 for the six months ended June 30, 2024, compared to RMB 2,595,000 for the same period in 2023[58] - The group employed 127 full-time employees as of June 30, 2024, an increase from 101 employees as of June 30, 2023[72] - Employee costs for the six months ended June 30, 2024, were approximately RMB 13,900,000, compared to RMB 11,400,000 for the same period in 2023, reflecting a rise of 21.9%[72] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim financial results for the six months ending June 30, 2024[87] - The company confirmed compliance with the standards set out in the code of conduct for securities transactions by directors during the reporting period[85] - Liu Yang resigned as an executive director on June 27, 2024, and Liang Liang was appointed as an executive director and co-CEO on July 16, 2024[86]

[Management Discussion and Analysis](index=1&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=1&type=section&id=Business%20Review) The Group achieved strong H1 2024 performance, with total revenue surging 333% and net profit attributable to equity holders increasing 275%, driven by software business expansion and financial asset disposal gains Key Performance Indicators for H1 2024 | Indicator | Six Months Ended June 30, 2024 (RMB) | Six Months Ended June 30, 2023 (RMB) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | Approx. RMB 127,590,000 | RMB 29,434,000 | +333% | | Consolidated Net Profit Attributable to Equity Holders | Approx. RMB 19,109,000 | Approx. RMB 5,098,000 | +275% | - Overall revenue from the software business significantly increased due to the Group's continued development of existing operations and the signing and completion of new contracts involving integrated IT solutions, edge computing, and intelligent computing data services[3](index=3&type=chunk) [Outlook](index=2&type=section&id=Outlook) The company will focus on the digital economy, emphasizing data elements, data asset operations, and AI intelligent and edge computing, aiming to become a digital technology integrated solution provider by building a synergistic 'three chains and one circle' model and leveraging industrial incubation investments to solidify its first-mover advantage - The company strategically positions itself in new quality productive forces, particularly within the digital economy, with core elements including data, intelligent and edge computing, networks, and applications[5](index=5&type=chunk) - The implementation path involves establishing a 'three chains and one circle' model, focusing on the overall synergy of innovation, industry, and financial chains, and strengthening the ecosystem through business model innovation, data element assetization, investment incubation capitalization, and ecological industrial layout[5](index=5&type=chunk) - Future efforts will continuously optimize first-mover advantages in data elements, data asset operations, and intelligent and edge computing, leveraging the technical potential of big data, large models, and high computing power to promote the integration of the digital and real economies[6](index=6&type=chunk) [Financial Review](index=3&type=section&id=Financial%20Review) The period saw strong financial performance with total revenue growing 333% to **RMB 128 million** and gross profit increasing to **RMB 33.27 million**, though gross margin declined from **36% to 26%** due to higher sales of lower-margin hardware products, alongside increased finance costs, distribution, and administrative expenses, culminating in a significant net profit increase to **RMB 19.10 million** [Revenue Analysis](index=3&type=section&id=Revenue%20Analysis) For the six months ended June 30, 2024, the Group's total revenue reached approximately **RMB 127.6 million**, a **333%** increase from **RMB 29.43 million** in the prior year, primarily driven by a **331%** growth in software business revenue to **RMB 126.9 million**, with significant increases in both software maintenance services and product sales Revenue Composition (RMB) | Revenue Category | H1 2024 (RMB '000) | H1 2023 (RMB '000) | | :--- | :--- | :--- | | Software Maintenance and Other Services | 49,347 | 18,101 | | Software Product and Other Product Sales | 78,243 | 11,333 | | **Total** | **127,590** | **29,434** | [Gross Profit Analysis](index=3&type=section&id=Gross%20Profit%20Analysis) The Group's gross profit for H1 2024 was approximately **RMB 33.27 million**, a significant increase from **RMB 10.57 million** in the prior year, though the software business gross margin decreased from **36% to 26%**, primarily due to a higher proportion of lower-margin server hardware and computing server product sales Gross Profit and Gross Margin Changes | Indicator | H1 2024 (RMB) | H1 2023 (RMB) | | :--- | :--- | :--- | | Gross Profit | Approx. RMB 33,272,000 | Approx. RMB 10,568,000 | | Software Business Gross Margin | Approx. 26% | Approx. 36% | - The decline in gross margin was primarily due to an increased proportion of sales of server hardware products and computing server products, which generally have lower gross margins[8](index=8&type=chunk) [Expenses and Other Income](index=4&type=section&id=Expenses%20and%20Other%20Income) During the period, operating expenses increased across the board, with finance costs surging due to higher interest-bearing borrowings, and distribution and administrative expenses rising from business expansion, increased staff costs, and travel expenses; additionally, the Group recorded net gains of approximately **RMB 17.17 million** from financial asset disposals but recognized fair value losses of approximately **RMB 1.41 million** - **Finance costs** increased to approximately **RMB 3.81 million** (prior period: RMB 0.55 million), primarily due to higher interest expenses on interest-bearing borrowings[9](index=9&type=chunk) - **Distribution expenses** increased to approximately **RMB 8.50 million** (prior period: RMB 7.06 million), mainly due to increased staff costs and selling expenses in the China software business[10](index=10&type=chunk) - **General and administrative expenses** increased to approximately **RMB 14.55 million** (prior period: RMB 9.88 million), primarily due to increased staff costs, overseas travel expenses, and depreciation[11](index=11&type=chunk) Fair Value Changes and Disposal Gains of Financial Assets (RMB) | Item | H1 2024 (RMB '000) | H1 2023 (RMB '000) | | :--- | :--- | :--- | | Fair Value (Loss)/Gain | (1,410) | 4,160 | | Net Disposal Gains | 17,174 | 7,143 | [Profit for the Period](index=4&type=section&id=Profit%20for%20the%20Period) Overall, driven by strong revenue growth and successful financial asset disposals, the Group recorded a net profit of approximately **RMB 19.10 million** in H1 2024, a significant increase from **RMB 4.68 million** in the prior year Net Profit Comparison (RMB) | Indicator | H1 2024 (RMB) | H1 2023 (RMB) | | :--- | :--- | :--- | | Net Profit for the Period | Approx. RMB 19,097,000 | Approx. RMB 4,682,000 | [Liquidity and Financial Resources](index=5&type=section&id=Liquidity%20and%20Financial%20Resources) The Group maintains a robust financial position with approximately **RMB 209 million** in cash and cash equivalents as of June 30, 2024, a current ratio of approximately **4.45 times**, an inapplicable net debt-to-equity ratio due to cash exceeding interest-bearing borrowings, and total borrowings of approximately **RMB 21.94 million** Key Financial Resources Indicators | Indicator | June 30, 2024 (RMB) | December 31, 2023 (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | Approx. RMB 208,678,000 | Approx. RMB 177,805,000 | | Current Ratio | Approx. 4.45 times | Approx. 7.69 times | | Interest-bearing Borrowings | Approx. RMB 21,938,000 | Approx. RMB 19,816,000 | - The Directors believe the Group's foreign currency exposure is not significant, and no hedging is currently required[15](index=15&type=chunk) [Capital Management and Investment Activities](index=6&type=section&id=Capital%20Management%20and%20Investment%20Activities) The Group's capital management strategy remains unchanged, aiming to generate shareholder returns by optimizing debt and equity balance, with no major investments or significant acquisitions/disposals of subsidiaries during the period, though the Group did acquire and dispose of several US-listed securities, including NVIDIA and Tesla, which constituted discloseable transactions - The Group's capital structure, comprising debt (interest-bearing borrowings) and equity, maintained its overall strategy during the period[17](index=17&type=chunk) - For the six months ended June 30, 2024, the Group acquired and disposed of several listed securities, including **NVIDIA Corporation**, **RIOT Blockchain Inc.**, **The Boeing Company**, and **Tesla Inc.**, which constituted discloseable transactions under the Listing Rules[19](index=19&type=chunk) [Employees and Remuneration Policy](index=7&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2024, the Group's full-time employees increased from **101 to 127**, with corresponding staff costs rising from **RMB 11.40 million to RMB 13.90 million**, and remuneration determined by performance, experience, and market conditions Employee and Cost Changes | Indicator | June 30, 2024 | June 30, 2023 | | :--- | :--- | :--- | | Full-time Employees | 127 | 101 | | Staff Costs (H1) | Approx. RMB 13,900,000 | Approx. RMB 11,400,000 | [Unaudited Consolidated Financial Statements](index=8&type=section&id=Unaudited%20Consolidated%20Financial%20Statements) [Unaudited Consolidated Statement of Profit or Loss](index=8&type=section&id=Unaudited%20Consolidated%20Statement%20of%20Profit%20or%20Loss) The consolidated statement of profit or loss shows the Group achieved **RMB 127.6 million** in revenue for H1 2024, a **333%** year-on-year increase, with operating profit surging to **RMB 26.41 million**, profit before tax at **RMB 22.61 million**, and profit attributable to equity holders at **RMB 19.11 million**, resulting in basic earnings per share of **RMB 0.092** Consolidated Statement of Profit or Loss Summary (RMB '000) | Item | H1 2024 (RMB '000) | H1 2023 (RMB '000) | | :--- | :--- | :--- | | Revenue | 127,590 | 29,434 | | Gross Profit | 33,272 | 10,568 | | Operating Profit | 26,414 | 5,199 | | Profit Before Tax | 22,609 | 4,651 | | Profit for the Period | 19,097 | 4,682 | | Profit Attributable to Equity Holders of the Company | 19,109 | 5,098 | | Basic Earnings Per Share (RMB) | 0.092 | 0.038 | [Unaudited Consolidated Statement of Comprehensive Income](index=9&type=section&id=Unaudited%20Consolidated%20Statement%20of%20Comprehensive%20Income) For H1 2024, the Group's total comprehensive income increased to **RMB 16.31 million** from **RMB 9.66 million** in the prior year, comprising **RMB 19.10 million** in profit for the period, partially offset by **RMB 2.79 million** in foreign currency translation differences (loss) from overseas operations Consolidated Statement of Comprehensive Income Summary (RMB '000) | Item | H1 2024 (RMB '000) | H1 2023 (RMB '000) | | :--- | :--- | :--- | | Profit for the Period | 19,097 | 4,682 | | Exchange Differences on Translation of Financial Statements of Foreign Operations | (2,785) | 4,977 | | **Total Comprehensive Income for the Period** | **16,312** | **9,659** | [Unaudited Consolidated Statement of Financial Position](index=10&type=section&id=Unaudited%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2024, the Group's total assets increased to **RMB 458 million**, and net current assets expanded to **RMB 342 million**, driven by increases in trade and other receivables, cash, and financial assets at fair value through profit or loss, with total equity rising to **RMB 359 million** Consolidated Statement of Financial Position Summary (RMB '000) | Item | June 30, 2024 (RMB '000) | December 31, 2023 (RMB '000) | | :--- | :--- | :--- | | Non-current Assets | 16,714 | 12,483 | | Current Assets | 441,066 | 290,281 | | **Total Assets** | **457,780** | **302,764** | | Current Liabilities | 99,064 | 37,748 | | Non-current Liabilities | 70 | 875 | | **Total Liabilities** | **99,134** | **38,623** | | **Total Equity** | **358,646** | **264,141** | [Notes to the Unaudited Interim Financial Results](index=12&type=section&id=Notes%20to%20the%20Unaudited%20Interim%20Financial%20Results) [Basis of Preparation and Accounting Policies](index=12&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) These interim results are prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' and adopt the same accounting policies as the 2023 annual financial statements, with no significant changes to the Group's accounting policies or financial statement amounts from new IFRS amendments effective during the period - These unaudited interim results have been prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting'[27](index=27&type=chunk) - The adoption of new and revised International Financial Reporting Standards and International Accounting Standards effective during the period did not result in significant changes to the Group's accounting policies or the amounts reported for the current and prior periods[28](index=28&type=chunk) [Segment Reporting](index=13&type=section&id=Segment%20Reporting) The Group is primarily segmented into a reportable 'Software Business' segment and an 'Others' segment (including securities trading), with the software business contributing **RMB 126.9 million** in revenue and **RMB 18.65 million** in adjusted profit before tax in H1 2024, while the 'Others' segment contributed **RMB 9.11 million** in profit, and the vast majority of revenue originated from China Segment Performance Summary (H1 2024, RMB '000) | Segment | Revenue (RMB '000) | Adjusted Profit/(Loss) Before Tax (RMB '000) | | :--- | :--- | :--- | | Software Business | 126,865 | 18,645 | | Others | 725 | 9,107 | | **Total** | **127,590** | **27,752** | Revenue from External Customers by Geographical Area (RMB '000) | Region | H1 2024 (RMB '000) | H1 2023 (RMB '000) | | :--- | :--- | :--- | | China | 126,865 | 29,434 | | Thailand | 725 | – | | **Total** | **127,590** | **29,434** | [Dividends and Earnings Per Share](index=19&type=section&id=Dividends%20and%20Earnings%20Per%20Share) The Board did not recommend an interim dividend for the six months ended June 30, 2024, with basic and diluted earnings per share for the period at **RMB 0.092**, calculated based on approximately **RMB 19.11 million** in profit and **207.9 million** weighted average ordinary shares outstanding - No dividends were paid or proposed for the six months ended June 30, 2024 (six months ended June 30, 2023: nil)[41](index=41&type=chunk) Earnings Per Share Calculation | Indicator | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Profit Attributable to Equity Holders (RMB) | Approx. RMB 19,109,000 | Approx. RMB 5,098,000 | | Weighted Average Number of Ordinary Shares in Issue (shares) | 207,890,108 | 133,277,036 | | Basic and Diluted Earnings Per Share (RMB) | 0.092 | 0.038 | [Share Capital](index=23&type=section&id=Share%20Capital) In H1 2024, the company issued **40,810,000** new ordinary shares via placing at **HKD 2.09** per share, with the placing completed on June 13, 2024, yielding net proceeds of approximately **RMB 78.19 million** (approximately **HKD 84.35 million**) Changes in Issued Share Capital | Item | Number of Shares | HKD | | :--- | :--- | :--- | | At Beginning of Period | 204,078,185 | 20,407,818 | | Issue of Placing Shares | 40,810,000 | 4,081,000 | | **At End of Period** | **244,888,185** | **24,488,818** | - The placing was completed on June 13, 2024, with a successful placement of **40,810,000** shares at a placing price of **HKD 2.09** per share, generating net proceeds of approximately **RMB 78.19 million**[51](index=51&type=chunk) [Other Information](index=25&type=section&id=Other%20Information) [Fundraising Activities and Use of Proceeds](index=25&type=section&id=Fundraising%20Activities%20and%20Use%20of%20Proceeds) The report details two fundraising activities: a June 2024 share placing and a 2023 rights issue; the 2024 placing yielded net proceeds of approximately **HKD 84.35 million**, earmarked 70% for new business investments (e.g., AI data centers) and 30% for general working capital, remaining unutilized as of the reporting period, while the 2023 rights issue proceeds, whose use was revised in December 2023, are being utilized as planned for industrial park software projects and general working capital - The placing of **40,810,000** new shares was completed in June 2024, with net proceeds of approximately **HKD 84.35 million**[52](index=52&type=chunk) - The placing proceeds are intended to be used **70%** (approximately **HKD 59.04 million**) for new business investments (e.g., AI data centers) and **30%** (approximately **HKD 25.31 million**) for general working capital, with the funds remaining unutilized as of June 30, 2024[52](index=52&type=chunk)[53](index=53&type=chunk) - The use of net proceeds from the 2023 rights issue was revised in December 2023, and as of June 30, 2024, a portion of the funds has been utilized as planned, with the remaining unutilized amount of approximately **HKD 44.63 million** expected to be fully utilized by the end of 2024[55](index=55&type=chunk)[56](index=56&type=chunk) [Interim Dividend](index=28&type=section&id=Interim%20Dividend) The Board resolved not to declare any interim dividend for the six months ended June 30, 2024 - The Directors resolved not to declare any interim dividend for the six months ended June 30, 2024 (six months ended June 30, 2023: nil)[57](index=57&type=chunk) [Corporate Governance](index=28&type=section&id=Corporate%20Governance) The company has adopted and largely complied with the Corporate Governance Code during the period, with a key deviation being the absence of a designated Chairman, whose functions are jointly performed by the Board, and the review committee has reviewed these interim financial results - The company has adopted the Corporate Governance Code as set out in Appendix C1 to the Listing Rules and complied with all relevant code provisions during the period, except for the deviation mentioned below[60](index=60&type=chunk)[61](index=61&type=chunk) - Deviation: Pursuant to Code Provision C.2.1 of the Corporate Governance Code, the roles of chairman and chief executive should be separate, but the company has not yet appointed a chairman, and these roles and functions are jointly performed by the Board[61](index=61&type=chunk) - The review committee, comprising three independent non-executive Directors, has reviewed the Group's unaudited interim financial results for the six months ended June 30, 2024[61](index=61&type=chunk)

Financial Performance - The company recorded a net profit attributable to equity holders of approximately RMB 5.6 million for the fiscal year ending December 31, 2023, compared to a net loss of RMB 22.3 million in the same period last year[6]. - The gross profit for the year was approximately RMB 26 million, with a gross margin of about 43% for the software business, remaining stable compared to the previous year[6]. - For the year ended December 31, 2023, the group recorded revenue of approximately RMB 60,646,000, a 26.6% increase from RMB 47,909,000 in 2022[26]. - The group's gross profit for the year was approximately RMB 26,045,000, with a stable gross margin of 43% compared to the previous year[27]. - The group recorded a profit of approximately RMB 3,801,000 for the year, a significant recovery from a loss of RMB 25,014,000 in 2022[35]. - The company's net profit attributable to equity holders for the year was RMB 5,550,000, a recovery from a loss of RMB 22,268,000 in 2022[68]. Expenses and Costs - The company reported distribution expenses of approximately RMB 15.9 million and general and administrative expenses of about RMB 22.6 million for the year[6]. - Distribution expenses rose to approximately RMB 15,918,000 from RMB 14,475,000 in 2022, primarily due to increased employee costs and travel expenses in the software business[28]. - General and administrative expenses increased to approximately RMB 22,573,000 from RMB 16,849,000, driven by higher employee costs, professional fees, and travel expenses[29]. - Employee costs amounted to approximately RMB 25,182,000 for the year, compared to RMB 21,980,000 in 2022[59]. Strategic Focus and Market Outlook - The company plans to focus on domestic database software services in line with government policies on localization, anticipating a shift towards domestic brands among Chinese customers[7]. - The company aims to enhance shareholder returns by exploring potential integration opportunities within existing IT services and strengthening project management practices[7]. - The company expects the Chinese economy to maintain steady growth, despite challenges in the business environment[7]. - The company anticipates more business opportunities arising from the replacement and popularization of domestic products as reforms deepen[7]. - The company plans to enhance its research and development capabilities and expand its customer base in 2023[64]. - The company aims to maintain competitiveness by launching new products and services while exploring suitable business opportunities for diversification[65]. - The company anticipates a gradual recovery of the market post-pandemic, with an increasing shift towards domestic brands for database software services among Chinese customers[65]. Shareholder and Governance - The company expressed gratitude to shareholders, business partners, and employees for their support and hard work[8]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[62]. - The company has not appointed a chairman, with the role being collectively performed by the board as of October 26, 2023[85]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced structure[78]. - The company maintains a shareholder communication policy to ensure timely and comprehensive information disclosure to shareholders[132]. - The company’s annual general meeting serves as an effective channel for communication between the board and shareholders[137]. Environmental, Social, and Governance (ESG) - The group has a designated team responsible for environmental, social, and governance (ESG) matters, reporting annually to the board on ESG performance and progress towards goals[160]. - The company is committed to improving overall environmental performance and reducing its carbon footprint in response to climate change[160]. - The company has established a governance framework to ensure its environmental, social, and governance (ESG) strategies align with corporate growth[165]. - The company has engaged with stakeholders to understand their concerns and improve its sustainable development strategy[168]. - The company has implemented measures to ensure compliance with disclosure regulations, including the adoption of revised articles of association to align with legal and regulatory requirements[153]. Risk Management - The board has established an audit committee to oversee and review the group's risk management procedures and internal control systems[150]. - The group conducts annual risk assessments to identify existing or potential risks that may affect business objectives, evaluating the likelihood and impact of identified risks[150]. - The group has implemented measures to mitigate risks associated with extreme weather events, including selecting office locations based on historical disaster data[200]. - The group recognizes the potential physical and transitional impacts of climate change on its operations, including acute and chronic changes[195]. Human Resources - The company employed 128 full-time employees as of December 31, 2023, an increase from 89 employees in 2022[59]. - The company emphasizes the importance of employee rights and has a low employee turnover rate[173]. - The company has not set measurable targets for achieving gender diversity among employees, but maintains a policy of merit-based selection[96].