[Interim Results Summary](index=1&type=section&id=2025%20Interim%20Results%20Summary) The group achieved significant performance growth in H1 2025, with revenue up 139.9% and profit attributable to owners turning profitable, driven by surging gold product sales and higher gross margins [H1 2025 Performance Overview](index=1&type=section&id=H1%202025%20Performance%20Overview) The group achieved significant H1 2025 performance growth, with revenue up 139.9% and profit attributable to owners turning profitable, driven by surging gold product sales and disposal gains Performance Highlights | Metric | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Revenue | 236.3 | 98.5 | 139.9% | | Profit from Continuing Operations | 33.1 | 1.3 | 2,520.2% | | Profit (Loss) Attributable to Owners | 75.3 | (11.0) | 785.0% | | Gold Product Sales Growth | - | - | 1,058.7% | | Jewelry New Retail Business Gross Profit Growth | - | - | 276.1% | - Net loss significantly reversed to net profit, primarily due to a substantial increase in **gold product sales of approximately 1,058.7%**, coupled with a significant rise in gold prices and lower procurement/processing costs for inventory products sold, leading to a substantial increase in gold product sales gross margin, and an overall **gross profit increase of approximately 276.1%** in the jewelry new retail business[2](index=2&type=chunk) - The disposal of the fresh food retail business recorded a gain of approximately **RMB 41.2 million** for the group[3](index=3&type=chunk) - Share-based payment expenses of approximately **RMB 18.5 million** were recognized from the grant of share options to employees, partially offsetting the aforementioned profit growth[4](index=4&type=chunk) [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The condensed consolidated financial statements present the group's financial performance and position, showing significant revenue growth, profit turnaround, and asset expansion [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the group's revenue from continuing operations significantly increased, gross profit substantially improved, and loss attributable to owners successfully turned into profit, mainly due to strong gold product sales and disposal gains from discontinued operations Statement of Profit or Loss and Other Comprehensive Income | Metric | H1 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue (Continuing Operations) | 236,328 | 98,509 | | Cost of Sales | (136,495) | (71,962) | | Gross Profit | 99,833 | 26,547 | | Profit for the Period from Continuing Operations | 33,093 | 1,263 | | Loss for the Period from Discontinued Operations | – | (15,888) | | Gain on Disposal of Subsidiaries | 41,246 | – | | Total Profit (Loss) and Comprehensive Income (Expense) for the Period | 74,339 | (14,625) | | Profit (Loss) for the Period Attributable to Owners of the Company | 75,254 | (10,986) | | Basic Earnings (Loss) Per Share (Continuing and Discontinued Operations) | 0.061 | (0.009) | | Basic Earnings Per Share (Continuing Operations) | 0.027 | 0.001 | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the group's non-current and current assets both increased, with significant growth in property, plant and equipment, intangible assets, and bank balances and cash. Current liabilities also increased, but net current assets and total equity maintained robust growth Statement of Financial Position | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Non-current Assets | 101,912 | 20,583 | | Property, Plant and Equipment | 83,979 | 7,424 | | Intangible Assets | 11,000 | 5,469 | | Current Assets | 1,662,973 | 1,558,900 | | Inventories | 929,074 | 973,502 | | Trade and Other Receivables | 164,929 | 93,158 | | Bank Balances and Cash | 532,186 | 429,290 | | Current Liabilities | 356,821 | 291,022 | | Trade and Other Payables | 215,667 | 72,639 | | Bank Borrowings | 88,500 | 89,000 | | Net Current Assets | 1,306,152 | 1,267,878 | | Equity Attributable to Owners of the Company | 1,407,098 | 1,313,301 | | Total Equity | 1,408,035 | 1,288,257 | [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations on the basis of preparation, accounting policies, segment information, revenue, taxation, profit components, and significant asset and liability changes [Basis of Preparation and Accounting Policies](index=7&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) These condensed consolidated financial statements are prepared in accordance with IAS 34 and Listing Rules, reflecting the company's name change to Mount Everest Gold Group Company Limited and the reclassification of fresh food retail business as discontinued operations due to its disposal - The condensed consolidated financial statements are prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' and the applicable disclosure requirements of Appendix D2 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[12](index=12&type=chunk) - The company's English name changed from 'CSMall Group Limited' to **'Mount Everest Gold Group Company Limited'**, and its Chinese name from '金貓銀貓集團有限公司' to '珠峰黃金集團有限公司', effective April 29, 2025[12](index=12&type=chunk) - The group completed the disposal of its fresh food retail business on January 13, 2025, with the financial results of the disposed group presented as 'discontinued operations' in the condensed consolidated statement of profit or loss and cash flow statement, and comparative figures for H1 2024 have been restated[13](index=13&type=chunk) - The application of revised International Financial Reporting Standards during this interim period, such as the amendment to IAS 21 'Lack of Exchangeability', did not have a significant impact on the group's financial position and performance[15](index=15&type=chunk) [Segment Information](index=8&type=section&id=Segment%20Information) Following the disposal of the fresh food retail business, the group now has only one operating and reportable segment, the jewelry new retail business, with all revenue generated from China - The group currently has only one operating and reportable segment, the jewelry new retail business, primarily engaged in the design and sale of gold, silver, colored gemstones, and other jewelry products in China[16](index=16&type=chunk) - The group's fresh food retail segment business was discontinued and disposed of during the period ended June 30, 2025[16](index=16&type=chunk) - All of the group's revenue is generated in China[17](index=17&type=chunk) [Revenue](index=9&type=section&id=Revenue) In H1 2025, the group's revenue from continuing operations significantly increased by 139.9%, primarily driven by a 1,058.7% surge in gold product sales, with gold products' contribution to total revenue rising from 12.7% to 61.5% Revenue by Product Category | Product Category | H1 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | Sales of Gold Products | 145,391 | 12,548 | | Sales of Silver Products | 90,871 | 83,633 | | Sales of Gemstones and Other Jewelry Products | 66 | 527 | | Sales of Colored Gemstones | – | 1,801 | | **Total** | **236,328** | **98,509** | - Sales of gold products significantly increased by approximately **1,058.7%** compared to H1 2024, becoming the primary driver of revenue growth[20](index=20&type=chunk) [Income Tax Expense](index=9&type=section&id=Income%20Tax%20Expense) In H1 2025, the group's income tax expense from continuing operations significantly increased, primarily due to higher taxable profit for the period, with the applicable statutory corporate income tax rate in China being 25% Income Tax Expense Details | Metric | H1 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | PRC Corporate Income Tax (Current Period) | 22,047 | 2,557 | | Deferred Tax | 550 | (949) | | **Total** | **22,597** | **1,608** | - The group's PRC subsidiaries are subject to PRC corporate income tax at a statutory rate of **25%**[21](index=21&type=chunk) [Composition of Profit for the Period](index=10&type=section&id=Composition%20of%20Profit%20for%20the%20Period) In H1 2025, the composition of the group's profit from continuing operations included cost of inventories, depreciation of property, plant and equipment, depreciation of right-of-use assets, bank interest income, net exchange gains, write-off of leasehold improvements, short-term lease expenses, and share-based payment expenses Profit Components | Item | H1 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | Cost of Inventories Recognized as Expense | 136,495 | 71,962 | | Depreciation of Property, Plant and Equipment | 1,821 | 1,750 | | Depreciation of Right-of-Use Assets | 206 | 1,510 | | Bank Interest Income | (710) | (544) | | Net Exchange (Gains) Losses | (213) | 295 | | Write-off of Leasehold Improvements | 2,710 | – | | Expenses Relating to Short-term Leases of Office Premises and Retail Stores | 1,902 | 83 | | Share-based Payment Expenses | 18,543 | – | [Dividends](index=10&type=section&id=Dividends) The company's board of directors resolved not to declare any interim dividend for H1 2025, consistent with the same period last year - No dividends were paid, declared, or proposed to ordinary shareholders of the company during this interim period (for the six months ended June 30, 2024: nil)[24](index=24&type=chunk) [Earnings (Loss) Per Share](index=11&type=section&id=Earnings%20(Loss)%20Per%20Share) In H1 2025, basic earnings per share attributable to owners of the company turned from loss to profit, mainly influenced by profit growth from continuing operations and disposal gains from discontinued operations Earnings Per Share | Metric | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Basic Earnings (Loss) Per Share (Continuing and Discontinued Operations) | 0.061 | (0.009) | | Basic Earnings Per Share (Continuing Operations) | 0.027 | 0.001 | | Weighted Average Number of Ordinary Shares for Basic Earnings Per Share (thousand shares) | 1,237,875 | 1,237,875 | - Diluted earnings (loss) per share for the six months ended June 30, 2025 and 2024 are not presented as there were no potential dilutive ordinary shares outstanding during these periods[26](index=26&type=chunk) [Asset Changes](index=11&type=section&id=Asset%20Changes) During this interim period, the group invested in property, plant and equipment and intangible assets, including the acquisition of office premises and exploration rights, while trade receivables increased, but net reversal of expected credit loss provision was recognized - During this interim period, the group purchased a vehicle for **RMB 1,133,000** and leased land and buildings (through acquisition of a subsidiary) for **RMB 79,895,000** as office premises to support future business development[27](index=27&type=chunk) - New intangible assets include the capitalization of exploration rights of **RMB 5,531,000**[27](index=27&type=chunk) Trade and Other Receivables | Trade and Other Receivables | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Receivables from Contracts with Customers | 138,956 | 73,529 | | Less: Provision for Expected Credit Losses on Trade Receivables | (16,813) | (18,390) | | **Net** | **122,143** | **55,139** | | Other Receivables, Deposits and Prepayments | 28,085 | 24,528 | | Prepayments to Suppliers | 353 | 6,126 | | Recoverable Value Added Tax | 14,247 | 6,572 | | Refundable Lease Deposits | 101 | 793 | | **Total** | **164,929** | **93,158** | - A net reversal of impairment loss (provision) of **RMB 1,577 thousand** was recognized for trade receivables (H1 2024: provision of RMB 2,908 thousand)[30](index=30&type=chunk) [Discontinued Operations](index=13&type=section&id=Discontinued%20Operations) The group completed the disposal of its fresh food retail business segment on January 13, 2025, which generated a gain of RMB 41.2 million and resulted in the reclassification of related assets and liabilities as held for sale - The group completed the disposal of its entire equity interest in Shenzhen Xiansheng (fresh food retail business segment) on January 13, 2025, for a consideration of **RMB 300,000**[31](index=31&type=chunk) Profit (Loss) from Discontinued Operations | Item | January 1 to January 13, 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | Loss for the Period from Discontinued Operations | – | (15,888) | | Gain on Disposal of Subsidiaries | 41,246 | – | | Profit (Loss) for the Period from Discontinued Operations | 41,246 | (15,888) | Assets and Liabilities Classified as Held for Sale | Assets and Liabilities Classified as Held for Sale as of December 31, 2024 (RMB thousand) | | :--- | :--- | | Property, Plant and Equipment | 407 | | Right-of-Use Assets | 1,362 | | Goodwill | 3,972 | | Intangible Assets | 4,647 | | Inventories | 556 | | Trade and Other Receivables | 18,460 | | Bank Balances and Cash | 474 | | Trade and Other Payables | (61,174) | | Amount Due to a Non-controlling Interest | (22,978) | | Lease Liabilities | (4,419) | | Tax Liabilities | (1,161) | | Bank Borrowings | (8,000) | | **Net Liabilities Disposed of** | **(67,842)** | - The gain on disposal of subsidiaries was **RMB 41,246 thousand**, with a net cash outflow of **RMB 174 thousand**[38](index=38&type=chunk) [Trade and Other Payables](index=18&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, the group's trade and other payables significantly increased, mainly due to higher consideration payable for subsidiary acquisitions and amounts due to fellow subsidiaries, with historical context provided for the provision for termination of transfer contracts Trade and Other Payables Details | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Payables | 32,953 | 20,456 | | Other Payables and Accrued Expenses | 133,606 | 26,473 | | Value Added Tax and Other Taxes Payable | 41,695 | 18,297 | | Provision for Termination of Transfer Contracts | 7,413 | 7,413 | | **Total** | **215,667** | **72,639** | - The balance of other payables and accrued expenses includes consideration payable for the acquisition of subsidiaries of **RMB 80,000,000**[40](index=40&type=chunk) - The aging analysis of trade payables shows a larger proportion of amounts over 90 days, but the overall credit period generally ranges from **1 to 90 days**[41](index=41&type=chunk) [Bank Borrowings](index=20&type=section&id=Bank%20Borrowings) As of June 30, 2025, the group's total bank borrowings slightly decreased, primarily secured by personal guarantees, corporate guarantees, and certain assets, bearing interest at fixed and floating rates Bank Borrowings Details | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Total Bank Facilities | 88,500 | 105,200 | | Bank Borrowings Utilized | 88,500 | 89,000 | | Borrowings at Fixed Annual Interest Rate | 8,500 (3.75%) | 9,000 (4.25%) | | Borrowings at Floating Annual Interest Rate | 80,000 (Prime Lending Rate plus 1.70%) | 80,000 (Prime Lending Rate plus 1.85%) | - Bank borrowings are secured and/or guaranteed by personal guarantees provided by Mr. Chen Wantian, a director of China Silver Group, and his spouse, Mr. Qian Pengcheng, a director of the company, a supplier, and an independent third party, as well as corporate guarantees from certain assets, a subsidiary, and a fellow subsidiary[42](index=42&type=chunk) [Acquisition of Subsidiaries Accounted for as Asset Acquisition](index=21&type=section&id=Acquisition%20of%20Subsidiaries%20Accounted%20for%20as%20Asset%20Acquisition) The group completed the acquisition of 100% equity interest in four target companies on May 25, 2025, for a total consideration of RMB 80,000,000, aiming to acquire leased land and buildings for future office premises, with the transaction accounted for as an asset acquisition - Shenzhen Guoyintongbao Co., Ltd., an indirect wholly-owned subsidiary of the group, acquired **100% equity interest** in four target companies, including Shenzhen Heqingde Investment Development Co., Ltd., for a total consideration of **RMB 80,000,000**[44](index=44&type=chunk) - The acquisition aims to obtain leased land and buildings for the group's future business development office premises, and the transaction has been accounted for as an asset acquisition[44](index=44&type=chunk) Identifiable Assets and Liabilities from Acquisition | Identifiable Assets and Liabilities Arising from the Transaction (RMB thousand) | | :--- | :--- | | Leased Land and Buildings | 79,895 | | Other Receivables | 130 | | Bank Balances and Cash | 315 | | Other Payables | (340) | | Consideration Payable | 80,000 | [Management Discussion and Analysis](index=22&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the group's business performance, segment operations, sales channels, new exploration initiatives, discontinued operations, future outlook, and financial performance [Business Review](index=22&type=section&id=Business%20Review) In H1 2025, the group achieved substantial growth in both revenue and net profit, successfully turning losses into profits, primarily due to a strategic shift towards gold and entry into upstream gold resources, demonstrating strong competitiveness amidst global macroeconomic uncertainties Business Performance Summary | Metric | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Overall Revenue | 236.3 | 98.5 | 139.9% | | Gold Product Sales Growth | - | - | 1,058.7% | | Contribution of Gold Products to Sales Revenue | 61.5% | 12.7% | - | | Net Profit (Loss) Attributable to Owners of the Company | 75.3 | (11.0) | 785.0% | | Profit from Continuing Operations | 33.1 | 1.3 | 2,520.2% | - The group rapidly adjusted its strategy, shifting its strategic focus to gold and officially entering the upstream gold resource sector, significantly enhancing market competitiveness[46](index=46&type=chunk) - Global macroeconomic uncertainties pushed up gold prices, with international gold prices continuously rising, leading to a boom in the precious metals market[47](index=47&type=chunk) [Jewelry New Retail Business Segment](index=23&type=section&id=Jewelry%20New%20Retail%20Business%20Segment) Driven by strong gold price trends, the group's investment-grade gold bar product sales significantly increased in H1, leading to substantial growth in gold product gross margin due to low-cost inventory. Concurrently, the group reduced marketing expenses for its lab-grown diamond brand SISI to maintain profitability and liquidity - The strong trend in gold prices reinforced investors' confidence in gold's safe-haven and value-preserving functions, leading to a significant increase in market demand for physical gold, especially investment-grade products[48](index=48&type=chunk) - The group's sales of high average transaction value, low processing fee investment gold bar products significantly increased in H1, and due to most gold products sold being from inventory with lower procurement and/or processing costs, coupled with a significant rise in gold prices, the **gross margin on gold product sales substantially increased**[48](index=48&type=chunk) - The group reduced marketing expenses for its lab-grown diamond brand SISI compared to previous years, as oversupply in China's lab-grown diamond market led to price declines, aiming to maintain business profitability and ample liquidity amidst macroeconomic challenges[49](index=49&type=chunk) [Sales Channels](index=24&type=section&id=Sales%20Channels) The group significantly enhanced brand awareness and sales performance online through TV and video shopping channels, short-video marketing, and KOL endorsements. Offline, it serves wholesale customers via the Shenzhen jewelry showroom and adjusted CSmall experience store layouts, ceasing expansion of existing stores - Regarding online sales channels, the group became a core supplier of gold, silver, and jewelry products for all first-tier TV stations, reaching over **100 million household viewers daily**, significantly enhancing brand awareness[50](index=50&type=chunk) - Short-video marketing and KOL endorsements have become standard for brand marketing, with content becoming central to marketing, sales, and operations[50](index=50&type=chunk) - Offline sales primarily serve wholesale customers and franchisees through the Shenzhen jewelry showroom, with CSmall experience store layouts adjusted to no longer expand existing stores, resulting in only **two franchised CSmall experience stores** as of June 30, 2025[51](index=51&type=chunk)[52](index=52&type=chunk) [New Layout for Exploration Business](index=25&type=section&id=New%20Layout%20for%20Exploration%20Business) The group actively expanded its upstream exploration business, discovering multiple gold mineralization zones in the Shannan exploration area in Tibet, with an estimated inferred gold metal quantity of approximately 5,800 kg, upgrading the exploration stage to 'detailed survey', and identifying potential for associated antimony. Additionally, the group acquired a lead-zinc mine exploration license in Xigaze, Tibet, further expanding its mineral resource reserves - On August 21, 2024, the group acquired a **51% equity interest** in Jiangxi Letong New Material Co., Ltd., which owns **100% equity interest** in Tibet Longtianyong Mining Co., Ltd., holding a mineral resource general survey and exploration license for an area of **28.88 square kilometers** in Shannan City, Tibet[53](index=53&type=chunk) - According to the general survey report, multiple gold mineralization zones were discovered in the Shannan exploration area, with an estimated inferred ore quantity of approximately **2,100,000 tons**, an inferred gold metal quantity of approximately **5,800 kg**, an average gold grade of approximately **2.77 grams/ton**, and a preliminary estimated prospective metal quantity of **20-25 tons**[53](index=53&type=chunk) - In March 2025, the exploration stage of the prospecting right was upgraded from 'general survey' to 'detailed survey', with the exploration area adjusted to **22.8246 square kilometers**, and the detailed survey implementation plan was approved, marking significant progress in the company's transformation into a gold resource enterprise with large-scale gold mine development potential[54](index=54&type=chunk) - The Shannan mining area is a typical gold-antimony deposit with co-existing gold and antimony, where revenue from associated antimony is expected to become a significant profit growth point for the project and enable entry into the core semiconductor material sector[54](index=54&type=chunk) - On July 18, 2025, the group, in conjunction with China Silver Group, completed the acquisition of a **55% equity interest** in Jiangxi Yiding Trading Co., Ltd., which holds **100% equity interest** in Xigaze Huaye Mining Development Co., Ltd. in Tibet, holding a mineral resource general survey and exploration license for an area of **50.81 square kilometers** in Xigaze City, Tibet, primarily engaged in lead-zinc mine exploration[55](index=55&type=chunk) [Discontinued Operations](index=27&type=section&id=Discontinued%20Operations) The group completed the disposal of its fresh food retail business segment on January 13, 2025, which had severely declined due to reduced pork consumption and the recovery of traditional fresh food models post-pandemic. The group decided to sell to focus management attention and resources on its core gold and silver jewelry retail business, generating a disposal gain of approximately RMB 41.2 million - The group completed the disposal of its entire **51% equity interest** in Shenzhen Xiansheng Zhanggui Technology Co., Ltd. (fresh food retail business segment) on January 13, 2025[57](index=57&type=chunk) - The business severely declined due to reduced pork consumption and market diversion by the recovery of traditional fresh food models post-pandemic, leading to weakened business model value and limited prospects and growth potential[57](index=57&type=chunk) - The disposal generated a gain of approximately **RMB 41.2 million**, allowing the group to focus management attention and financial and human resources on its core gold and silver jewelry retail business[57](index=57&type=chunk) [Outlook](index=28&type=section&id=Outlook) After rebranding as 'Mount Everest Gold', the group officially entered a 'golden era', poised to benefit from the gold bull market and achieve upstream-downstream synergies by expanding its gold mineral exploration business. Concurrently, the group closely monitors the Real World Asset (RWA) market, not ruling out entry into the gold and precious metals RWA market at an opportune time - After rebranding as **'Mount Everest Gold'**, the group officially entered a new 'golden era', expected to benefit from the epic breakthrough in the gold market and the steady rise of gold mining stocks[58](index=58&type=chunk) - New acquisitions and exploration progress in Shannan will drive the group's expansion into upstream mining operations, granting greater control over upstream raw material supply and creating synergies for the jewelry new retail business[58](index=58&type=chunk) - The group closely monitors the development trend of Real World Assets (RWA), and with gold and precious metals as important underlying assets for future RWA, the group does not rule out entering the gold and precious metals RWA market at an appropriate time[59](index=59&type=chunk) [Financial Review](index=29&type=section&id=Financial%20Review) The group's H1 2025 financial performance was strong, with significant growth in revenue and gross profit from continuing operations, and net profit turning profitable. Working capital management efficiency improved, and the net debt-to-equity ratio improved. The group also undertook significant capital expenditures and acquisitions while maintaining a robust liquidity position - In H1 2025, revenue from continuing operations was approximately **RMB 236.3 million**, a substantial year-on-year increase of approximately **139.9%**, primarily driven by a significant increase in gold product sales of approximately **1,058.7%**, rising gold prices, and sales of low-cost inventory[60](index=60&type=chunk) Financial Performance Summary | Item | H1 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 236,328 | 98,509 | | Cost of Sales | 136,495 | 71,962 | | Gross Profit | 99,833 | 26,547 | | Gross Profit Margin | 42.2% | 26.9% | | Selling and Distribution Expenses | 10,326 | 8,700 | | Administrative Expenses | 34,074 | 10,100 | | Income Tax Expense | 22,597 | 1,600 | | Profit (Loss) Attributable to Owners of the Company | 75,300 | (11,000) | - Inventory turnover days decreased from **3,267 days** as of December 31, 2024, to approximately **1,275 days** in H1 2025, trade receivables turnover days decreased from **130 days** to approximately **69 days**, and trade payables turnover days decreased from **85 days** to approximately **36 days**, indicating improved working capital management efficiency[71](index=71&type=chunk)[72](index=72&type=chunk) - As of June 30, 2025, the group was in a net cash position, with a net debt-to-equity ratio of approximately **-31.5%** (December 31, 2024: -26.4%), indicating an improved net cash position[73](index=73&type=chunk) - Capital expenditure in H1 2025 was approximately **RMB 81.0 million**, mainly related to the acquisition of leased land and buildings for the new China headquarters and the purchase of a vehicle[74](index=74&type=chunk) - As of June 30, 2025, the group's contracted but unprovided capital expenditure in the financial statements was **RMB 3.5 million** for the acquisition of a non-wholly owned subsidiary[76](index=76&type=chunk) - Jiangxi Jiyin Industrial Co., Ltd., a subsidiary of the group, provided a corporate guarantee of **RMB 250.0 million** to Jiangxi Longtianyong Nonferrous Metals Co., Ltd., a fellow subsidiary, as a contingent liability[77](index=77&type=chunk) - Almost all of the group's assets, liabilities, income, costs, and expenses are denominated in RMB, resulting in extremely low foreign exchange exposure, with no foreign exchange hedging arrangements in place[79](index=79&type=chunk) - As of June 30, 2025, the group employed **117 staff** (December 31, 2024: 123 staff), with total staff costs of approximately **RMB 6.9 million** in H1 2025[80](index=80&type=chunk) - The group maintained a robust liquidity position in H1 2025, primarily funded by internal resources and bank borrowings[81](index=81&type=chunk) - The board of directors resolved not to declare any interim dividend for H1 2025[82](index=82&type=chunk) [Other Information](index=36&type=section&id=Other%20Information) This section covers significant investments, acquisitions, disposals, post-reporting period events, corporate governance practices, acknowledgements, and publication details [Significant Investments, Acquisitions and Disposals](index=36&type=section&id=Significant%20Investments%2C%20Acquisitions%20and%20Disposals) The group completed the disposal of a 51% equity interest in its fresh food retail business on January 13, 2025. Subsequent to the reporting period, Jiangxi Jiyin Industrial Co., Ltd., an indirect wholly-owned subsidiary, entered into an equity transfer agreement to dispose of certain equity interests in Jiangxi Yiding Trading Co., Ltd - On January 13, 2025, the group completed the disposal of a **51% equity interest** in Shenzhen Xiansheng Zhanggui Technology Co., Ltd. (fresh food retail business)[83](index=83&type=chunk) - During the reporting period, Jiangxi Jiyin Industrial Co., Ltd., an indirect wholly-owned subsidiary of the group, entered into an equity transfer agreement to dispose of certain equity interests in Jiangxi Yiding Trading Co., Ltd., with the transaction completed after the reporting period[83](index=83&type=chunk) [Material Events After Reporting Period](index=36&type=section&id=Material%20Events%20After%20Reporting%20Period) On July 18, 2025, Jiangxi Jiyin Industrial Co., Ltd., an indirect wholly-owned subsidiary of the group, completed the acquisition of a 35% equity interest in Jiangxi Yiding Trading Co., Ltd., which holds 100% equity interest in Xigaze Huaye Mining Development Co., Ltd. in Tibet, primarily engaged in lead-zinc mine exploration - On June 17, 2025, Jiangxi Jiyin Industrial Co., Ltd., an indirect wholly-owned subsidiary of the group, entered into an equity transfer agreement to acquire a **35% equity interest** in Jiangxi Yiding Trading Co., Ltd. for a total consideration of **RMB 3,500,000**[84](index=84&type=chunk) - Jiangxi Yiding Trading Co., Ltd. holds **100% equity interest** in Xigaze Huaye Mining Development Co., Ltd. in Tibet, which is primarily engaged in lead-zinc mine exploration[84](index=84&type=chunk) - The transaction was completed on **July 18, 2025**[84](index=84&type=chunk) [Corporate Governance](index=37&type=section&id=Corporate%20Governance) The company is committed to maintaining high corporate governance standards, complying with the Corporate Governance Code, except for the non-segregation of Chairman and CEO roles. The board confirmed compliance with the Model Code for Securities Transactions, and the audit committee reviewed financial statements and internal control systems - The company has complied with the code provisions under the Corporate Governance Code, except for code provision C.2.1 (the roles of chairman and chief executive should be separate)[85](index=85&type=chunk) - Mr. Chen He currently serves as both the Chairman of the Board and Chief Executive Officer of the company, and the board considers him the best candidate for these positions[85](index=85&type=chunk) - All directors confirmed their compliance with the Model Code for Securities Transactions by Directors of Listed Issuers throughout H1 2025[86](index=86&type=chunk) - Neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities in H1 2025[87](index=87&type=chunk) - The Audit Committee reviewed the group's financial reporting process and risk management and internal control systems, deeming the unaudited condensed consolidated financial statements to be prepared in compliance with applicable accounting standards, Listing Rules, and legal requirements[88](index=88&type=chunk) [Acknowledgement](index=38&type=section&id=Acknowledgement) The board expresses gratitude to management, all employees, shareholders, and customers, acknowledging their hard work, contributions, and long-term support - The board extends its gratitude to the management and all staff for their hard work and contributions, and to the shareholders and customers for their long-term support of the group[89](index=89&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=39&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This interim results announcement has been published on the company's website and HKEX website, and the interim report will be dispatched to shareholders and published on the same websites in due course - This announcement is published on the company's website (www.everestgold.hk) and the website of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk)[90](index=90&type=chunk) - The company's 2025 interim report will be dispatched to shareholders who require a printed copy and published on the same websites in due course[90](index=90&type=chunk)

在港股市场，珠峰黄金（01815.HK）大涨11.31%，紫金矿业（02899.HK）涨6.38%，灵宝黄金（03330.HK）涨5.21%，中国黄金国际（02099.HK）涨 4.95%，潼关黄金（00340.HK）涨4.32%，山东黄金（01787.HK）涨3.75%，赤峰黄金（06693.HK）、招金矿业（01818.HK）等多只概念股均涨。 | 代码 | 序号 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 01815 | 1 | 珠峰黄金 | 0) | 1.870 | +0.190 | 11.31 | | 02899 | 2 | 常毛矿业 | | 24.340 | +1.460 | 6.38 | | 03330 | 3 | 灵宝黄金 | | 11.520 | +0.570 | 5.21 | | 02099 | ব | 中国黄金国际 | | 89.050 - | - +4.200 | 4.95 | | 00812 | ട | 中国白银集团 | | 0.440 | +0.020 | 4.76 | | 003 ...

Group 1 - The company expects a significant turnaround from a net loss of approximately RMB 11 million for the six months ending June 30, 2024, to a projected net profit of RMB 70 million to RMB 80 million for the six months ending June 30, 2025 [1] - Excluding the impact of stock option expenses, the expected net profit for the same period is projected to be between RMB 88 million and RMB 98 million [1] - The increase in net profit is attributed to a significant rise in gold product sales, which are primarily from inventory with lower procurement and processing costs, alongside a notable increase in gold prices [3] Group 2 - The company recorded approximately RMB 41 million in revenue from the sale of its fresh food retail business, completed on January 13, 2025 [3] - The company incurred approximately RMB 18 million in expenses related to stock options granted to employees during the first half of 2025 [3] - The company is primarily engaged in retail jewelry, selling both self-branded and third-party jewelry products through various online and offline channels [4]

Core Viewpoint - The company,珠峰黄金, expects a significant turnaround in its financial performance, projecting a net profit attributable to shareholders of RMB 70 million to 80 million in the first half of 2025, compared to a loss of approximately RMB 11 million in the same period of 2024 [1] Group 1: Financial Performance - The anticipated net profit, excluding the impact of stock option expenses, is expected to reach RMB 88 million to 98 million [1] - The improvement in performance is primarily attributed to a notable increase in gold product sales and overall sales growth in the jewelry new retail business [1] Group 2: Cost and Revenue Factors - The sales of inventory products with lower procurement and processing costs, combined with a rise in gold prices during the first half of the year, have led to a significant increase in the gross profit margin of gold product sales [1] - The sale of the fresh food retail business has generated approximately RMB 41 million in revenue for the group [1]

Core Viewpoint - The company,珠峰黄金, anticipates a significant turnaround from a net loss of approximately RMB 11 million for the six months ending June 30, 2024, to a projected net profit of RMB 70 million to RMB 80 million for the first half of 2025, with adjusted figures excluding stock option expenses indicating a profit of RMB 88 million to RMB 98 million [1] Group 1 - The expected net profit turnaround is primarily due to a substantial increase in gold product sales, leading to higher overall sales in the company's jewelry retail business for the first half of 2025 [1] - The majority of gold products sold in the first half of 2025 are inventory items, which have lower procurement and/or processing costs, combined with a significant rise in gold prices, resulting in a substantial increase in gross profit margin for gold product sales [1] - The net profit for the jewelry retail business in the first half of 2025 is expected to see a significant increase compared to the first half of 2024 [1] Group 2 - The company completed the sale of its fresh food retail business on January 13, 2025, which is expected to generate approximately RMB 41 million in revenue [1] - This positive impact on profitability is partially offset by an expense of approximately RMB 18 million incurred from granting stock options to employees in the first half of 2025 [2]

Group 1 - The company anticipates a net profit attributable to shareholders of RMB 70 million to RMB 80 million for the first half of 2025 [1] - Excluding the impact of expenses related to the granting of stock options, the expected net profit attributable to shareholders is projected to be between RMB 88 million and RMB 98 million for the same period [1]

Core Viewpoint - The company expects a significant turnaround from a net loss of approximately RMB 11 million for the six months ending June 30, 2024, to a projected net profit of RMB 70 million to RMB 80 million for the first half of 2025, with adjusted net profit estimates ranging from RMB 88 million to RMB 98 million after excluding stock option expenses [1][2] Group 1 - The anticipated net profit turnaround is primarily due to a significant increase in gold product sales, which is expected to enhance the overall sales of the company's jewelry retail business in the first half of 2025 [1] - The majority of gold products sold in the first half of 2025 are expected to be from inventory, with lower procurement and/or processing costs, combined with a notable rise in gold prices, leading to a substantial increase in gross profit margins [1] - The company completed the sale of its fresh food retail business on January 13, 2025, which is expected to generate approximately RMB 41 million in revenue [1] Group 2 - The positive financial outlook is partially offset by an expense of approximately RMB 18 million related to stock options granted to employees during the first half of 2025 [2]

Mount Everest Gold Group Company Limited 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。 2 珠峰黃金集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1815） 正面盈利預告 本公告乃由珠峰黃金集團有限公司（「本公司」，連同其附屬公司統稱「本集 團」）根據香港聯合交易所有限公司證券上市規則第13.09條及香港法例第571 章證券及期貨條例第XIVA部而作出。 本公司董事會（「董事會」）謹此知會本公司股東及潛在投資者，根據本集團截 至2025年6月30日止六個月（「 2025年上半年」）的未經審核綜合管理賬目（未經 本公司核數師或審核委員會確認、審閱或審核，且可予調整）以及本集團目前 可獲得的其他資料，與截至2024年6月30日止六個月（「 2024年上半年」）的本公 司擁有人應佔淨虧損約人民幣1,100萬元相比，本集團預期於2025年上半年錄 得的本公司擁有人應佔淨利潤為人民幣7,000萬元至人民 ...

格隆汇8月12日丨珠峰黄金(01815.HK)公布，公司将于2025年8月26日召开董事会会议，以（其中包括） 审议及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及审议派发中期股息的建议（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。 Mount Everest Gold Group Company Limited 珠峰黃金集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1815） 董事會會議召開日期 珠峰黃金集團有限公司（「本公司」）董事會（「董事會」）茲通告謹定於2025年8月 26日（星期二）舉行董事會會議，以考慮及通過本公司及其附屬公司截至2025 年6月30日止的六個月中期業績，及派發中期股息（如有），以及處理其他事項。 承董事會命 珠峰黃金集團有限公司 陳和 香港，2025年8月12日 於本公告日期，本公司執行董事為陳和先生、錢鵬程先生及黃雯女士；及本公 司獨立非執行董事為余亮暉先生、Hu Qilin先生及張祖輝先生。 主席 ...