Group 1 - The company Tongfang Youyou (01868) reported interim results for the six months ending June 30, 2025, with revenue of 290 million RMB, representing a year-on-year decrease of 1.46% [1] - Shareholders' profit attributable to the company was 4.945 million RMB, a significant year-on-year decline of 57.41% [1] - Basic earnings per share were reported at 0.24 cents [1]

Group 1 - The company, Tongfang Youyou (01868), reported a revenue of 290 million RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 1.46% [1] - The net profit attributable to shareholders was 4.945 million RMB, which is a significant decline of 57.41% compared to the previous year [1] - The basic earnings per share stood at 0.24 cents [1]

格隆汇8月22日丨同方友友(01868.HK)发布公告，截至2025年6月30日止六个月，总收入约为人民币 290.1百万元，同比减少约人民币4.3百万元。集团录得公司股东应占溢利约人民币4.9百万元，较上年同 期公司股东应占溢利约人民币11.6百万元减少约人民币6.7百万元，主要是由于毛利减少及经营开支增加 所致。 ...

[Interim Results Announcement](index=1&type=section&id=Interim%20Results%20Announcement) This section presents the interim results announcement, including financial statements, management discussion, and corporate governance [Interim Condensed Consolidated Financial Statements](index=1&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2025, including the income statement, statement of comprehensive income, and statement of financial position [Interim Condensed Consolidated Statement of Profit or Loss](index=1&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) This section details the company's revenues, costs, and profits for the six months ended June 30, 2025, compared to the prior year Interim Condensed Consolidated Statement of Profit or Loss Key Data | Metric | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 290,081 | 294,390 | (4,309) | -1.46% | | Cost of Sales | (168,155) | (161,608) | (6,547) | 4.05% | | Gross Profit | 121,926 | 132,782 | (10,856) | -8.18% | | Other income, gains and losses, net | 36,195 | 25,873 | 10,322 | 39.90% | | Impairment (provision) / reversal of provision, net | (458) | 1,712 | (2,170) | -126.75% | | Selling and distribution expenses | (106,399) | (98,749) | (7,650) | 7.75% | | Administrative expenses | (46,379) | (46,134) | (245) | 0.53% | | Finance costs | (567) | (690) | 123 | -17.83% | | Profit before tax | 4,318 | 14,794 | (10,476) | -70.81% | | Income tax credit / (expense) | 569 | (3,031) | 3,600 | -118.77% | | Profit for the period | 4,887 | 11,763 | (6,876) | -58.45% | | Profit attributable to owners of the Company | 4,945 | 11,610 | (6,665) | -57.41% | | Basic and diluted earnings per share | RMB 0.24 cents | RMB 0.55 cents | (0.31) cents | -56.36% | [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) This section presents the total comprehensive income for the period, including profit and other comprehensive income items Interim Condensed Consolidated Statement of Comprehensive Income Key Data | Metric | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Profit for the period | 4,887 | 11,763 | (6,876) | | Exchange differences on translation of financial statements of subsidiaries | 12,852 | (5,196) | 18,048 | | Exchange differences on translation of financial statements of the Company | (22,743) | 10,411 | (33,154) | | Other comprehensive (loss) / income for the period, net of income tax | (9,891) | 5,215 | (15,106) | | Total comprehensive (loss) / income for the period | (5,004) | 16,978 | (21,982) | | Total comprehensive (loss) / income attributable to owners of the Company | (4,970) | 16,769 | (21,739) | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This section outlines the company's assets, liabilities, and equity as of June 30, 2025, compared to December 31, 2024 Interim Condensed Consolidated Statement of Financial Position Key Data | Metric | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total non-current assets | 466,410 | 481,780 | (15,370) | -3.19% | | Total current assets | 1,385,588 | 1,406,021 | (20,433) | -1.45% | | Total current liabilities | 197,854 | 223,280 | (25,426) | -11.39% | | Net current assets | 1,187,734 | 1,182,741 | 4,993 | 0.42% | | Total assets less current liabilities | 1,654,144 | 1,664,521 | (10,377) | -0.62% | | Total non-current liabilities | 42,751 | 48,124 | (5,373) | -11.16% | | Net assets | 1,611,393 | 1,616,397 | (5,004) | -0.31% | | Total equity | 1,611,393 | 1,616,397 | (5,004) | -0.31% | [Notes to the Financial Statements](index=6&type=section&id=Notes%20to%20the%20Financial%20Statements) This section details the basis of preparation, accounting policy changes, segment information, and supplementary explanations for key financial items including revenue, finance costs, and receivables [Basis of Preparation](index=6&type=section&id=Basis%20of%20Preparation) This section outlines the accounting standards and disclosure requirements followed in preparing the interim condensed consolidated financial information - The interim condensed consolidated financial information has been prepared in accordance with the applicable disclosure requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants[8](index=8&type=chunk) [Changes in Accounting Policies](index=6&type=section&id=Changes%20in%20Accounting%20Policies) This section describes the impact of newly adopted Hong Kong Financial Reporting Standards on the group's financial performance and position - The revised Hong Kong Financial Reporting Standards accounting standard, namely HKAS 21 (Revised) "Lack of Exchangeability", was adopted for the first time during the period, but it had no impact on the Group's operating results and financial position[9](index=9&type=chunk) [Operating Segments and Geographical Information](index=7&type=section&id=Operating%20Segments%20and%20Geographical%20Information) This section provides an overview of the group's single operating segment and its revenue and non-current assets broken down by geographical region - The Group's revenue and results are derived from a single operating segment, namely the manufacturing, sale, and trading of lighting products[10](index=10&type=chunk) Revenue from External Customers (by Geographical Region) | Region | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | North America | 283,833 | 289,535 | (5,702) | -1.97% | | Europe | 2,444 | 2,732 | (288) | -10.54% | | China | 1,137 | 169 | 968 | 572.78% | | Asia (excluding China) | 2,667 | 1,954 | 713 | 36.49% | | Total Revenue | 290,081 | 294,390 | (4,309) | -1.46% | Non-current Assets (by Geographical Region) | Region | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | United States | 127,188 | 135,301 | (8,113) | -5.99% | | China | 106,171 | 108,606 | (2,435) | -2.24% | | Other Countries | 78,623 | 75,054 | 3,569 | 4.76% | | Total Non-current Assets | 311,982 | 318,961 | (6,979) | -2.19% | [Revenue](index=8&type=section&id=Revenue) This section clarifies that the group's revenue is entirely derived from contracts with customers, primarily from the sale of lighting products - The Group's revenue is entirely derived from contracts with customers, primarily from the sale of lighting products, and is recognized at a point in time[13](index=13&type=chunk) [Other Income, Gains and Losses, Net](index=8&type=section&id=Other%20Income%2C%20Gains%20and%20Losses%2C%20Net) This section provides a detailed breakdown of other income, gains, and losses, including interest income, government grants, and net gains/losses Other Income, Gains and Losses, Net Details | Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Bank interest income | 8,705 | 9,573 | (868) | -9.07% | | Other interest income | 7,863 | 6,963 | 900 | 12.92% | | Dividend income from financial assets at fair value through profit or loss | 920 | 1,347 | (427) | -31.70% | | Government grants | 3,799 | 162 | 3,637 | 2245.06% | | Gross rental income | 5,067 | 5,217 | (150) | -2.87% | | Other income | 876 | 3,155 | (2,279) | -72.24% | | Total net gains and losses | 8,965 | (544) | 9,509 | -1748.0% | | Total other income, gains and losses, net | 36,195 | 25,873 | 10,322 | 39.90% | [Finance Costs](index=8&type=section&id=Finance%20Costs) This section details the components of finance costs, including interest on lease liabilities and amortization of bank financing costs Finance Costs Details | Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Interest on lease liabilities | 475 | 629 | (154) | -24.48% | | Amortization of bank financing costs | 92 | 61 | 31 | 50.82% | | Total | 567 | 690 | (123) | -17.83% | [Profit Before Tax](index=9&type=section&id=Profit%20Before%20Tax) This section presents adjustments to profit before tax, including cost of inventories sold, depreciation, and impairment provisions Profit Before Tax Adjustments | Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Cost of inventories sold | 166,196 | 161,085 | 5,111 | | Depreciation of property, plant and equipment | 3,046 | 3,737 | (691) | | Depreciation of right-of-use assets | 5,263 | 5,276 | (13) | | Lease payments not included in the measurement of lease liabilities | 34 | 57 | (23) | | Direct operating expenses from investment properties that generate rental income | 172 | 245 | (73) | | Net impairment loss provision / (reversal) for financial assets | 458 | (1,712) | 2,170 | | Write-down of inventories to net realizable value | 1,098 | 948 | 150 | [Income Tax Credit / (Expense)](index=10&type=section&id=Income%20Tax%20Credit%20%2F%20%28Expense%29) This section outlines the total tax credit or expense for the period and the applicable income tax rates across different geographical regions Total Tax (Credit) / Expense for the Period | Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Total tax (credit) / expense for the period | (569) | 3,031 | (3,600) | Applicable Income Tax Rates | Region | Six Months Ended June 30, 2025 (%) | Six Months Ended June 30, 2024 (%) | | :--- | :--- | :--- | | Hong Kong | 16.5 | 16.5 | | United States | 28 | 28 | | China | 25 | 25 | | Vietnam | 20 | 20 | [Dividends](index=10&type=section&id=Dividends) This section states the board's decision regarding the payment of interim dividends for the current period - The Board resolved not to declare an interim dividend for the six months ended June 30, 2025, consistent with the corresponding period in 2024[19](index=19&type=chunk) [Earnings Per Share Attributable to Owners of the Company](index=10&type=section&id=Earnings%20Per%20Share%20Attributable%20to%20Owners%20of%20the%20Company) This section details the calculation of basic and diluted earnings per share, including profit attributable to shareholders and weighted average shares outstanding Earnings Per Share Calculation | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company | RMB 4,945,000 | RMB 11,610,000 | Decrease of RMB 6,665,000 | | Weighted average number of ordinary shares outstanding | 2,094,465,417 shares | 2,094,465,417 shares | No change | | Basic and diluted earnings per share | RMB 0.24 cents | RMB 0.55 cents | Decrease of RMB 0.31 cents | [Trade and Bills Receivables](index=11&type=section&id=Trade%20and%20Bills%20Receivables) This section provides an overview and aging analysis of trade and bills receivables, net of impairment provisions Overview of Trade and Bills Receivables | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Trade receivables | 91,295 | 111,570 | (20,275) | -18.17% | | Bills receivables | 7 | 98 | (91) | -92.86% | | Less: Provision for impairment losses | (5,077) | (4,753) | (324) | 6.82% | | Total | 86,225 | 106,915 | (20,690) | -19.35% | Aging Analysis of Trade and Bills Receivables (Net of Impairment Provision) | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 1 month | 42,732 | 46,070 | | 1 to 2 months | 26,177 | 45,914 | | 2 to 3 months | 6,032 | 6,541 | | 3 to 6 months | 5,259 | 2,330 | | Over 6 months | 6,025 | 6,060 | | Total | 86,225 | 106,915 | [Loan to a Third Party](index=11&type=section&id=Loan%20to%20a%20Third%20Party) This section details the loan to a third party, including its outstanding balance, impairment provision, and collateral arrangements Overview of Loan to a Third Party | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Loan to a third party | 117,223 | 147,339 | (30,116) | -20.44% | | Less: Impairment provision | (35,055) | (35,596) | 541 | -1.52% | | Net | 82,168 | 111,743 | (29,575) | -26.47% | - The loan is secured by certain properties, listed securities, private equity, and other investments of the borrower, as well as personal guarantees, bears interest at an annual rate of **8%**, and has been overdue since 2020[21](index=21&type=chunk) - Management continuously assesses recoverability and conducts credit risk assessments[21](index=21&type=chunk)[22](index=22&type=chunk) [Loan to Ultimate Holding Company](index=12&type=section&id=Loan%20to%20Ultimate%20Holding%20Company) This section provides details on the loan extended to the ultimate holding company, including its principal amount, accrued interest, and terms Overview of Loan to Ultimate Holding Company | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Loan principal | 400,000 | 400,000 | 0 | 0.00% | | Interest receivable | 7,746 | 406 | 7,340 | 1807.88% | | Total | 407,746 | 400,406 | 7,340 | 1.83% | - The loan is an unsecured revolving loan provided to Tongfang Co., Ltd., with a total principal of **RMB 400 million**, bearing interest at an annual rate of **3.65%**, and repayable on demand[23](index=23&type=chunk) [Trade Payables](index=12&type=section&id=Trade%20Payables) This section presents an aging analysis of trade payables as of June 30, 2025, and December 31, 2024 Aging Analysis of Trade Payables | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 1 month | 38,307 | 56,622 | | 1 to 3 months | 14,374 | 9,193 | | 3 to 6 months | 4,385 | 9,854 | | 6 months to 1 year | 176 | 495 | | Over 1 year | 1,382 | 1,075 | | Total | 58,624 | 77,239 | [Events After the Reporting Period](index=12&type=section&id=Events%20After%20the%20Reporting%20Period) This section confirms that there have been no significant events subsequent to the reporting period up to the date of the announcement - As of the date of this announcement, the Group had no significant events after the reporting period[25](index=25&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's detailed analysis of financial performance and business operations, covering revenue, costs, profits, assets, liabilities, liquidity, and future strategies [Financial Review](index=13&type=section&id=Financial%20Review) This section provides a comprehensive review of the company's financial performance, including key metrics such as revenue, costs, profits, and financial position [Revenue](index=13&type=section&id=Revenue_Financial%20Review) This section analyzes the total revenue for the period and the factors contributing to its change - Total revenue for the period was approximately **RMB 290.1 million**, a decrease of approximately **RMB 4.3 million** compared to the same period last year, primarily due to global inflationary pressures, weak economic growth, and reduced consumer purchasing power leading to soft market demand[26](index=26&type=chunk) [Cost of Goods Sold](index=13&type=section&id=Cost%20of%20Goods%20Sold) This section examines the cost of goods sold for the period and the reasons for its increase - Cost of goods sold was approximately **RMB 168.2 million**, an increase of approximately **RMB 6.6 million** compared to the same period last year, primarily due to increased material costs resulting from higher tariffs and freight charges[27](index=27&type=chunk) [Gross Profit and Gross Margin](index=13&type=section&id=Gross%20Profit%20and%20Gross%20Margin) This section discusses the gross profit and gross margin for the period, highlighting the factors contributing to their decline - Gross profit was approximately **RMB 121.9 million**, a year-on-year decrease of **RMB 10.9 million**, with a gross margin of approximately **42.0%**, a year-on-year decrease of **3.1 percentage points**, primarily due to decreased revenue and increased material costs[28](index=28&type=chunk) [Other Income, Gains and Losses, Net](index=14&type=section&id=Other%20Income%2C%20Gains%20and%20Losses%2C%20Net_Financial%20Review) This section analyzes the changes in other income, gains, and losses, net, attributing the increase to government grants and gains from financial asset disposals - Other income, gains and losses, net, was approximately **RMB 36.2 million**, a year-on-year increase of approximately **RMB 10.3 million**, primarily benefiting from an increase in government grants of approximately **RMB 3.6 million** and an increase in gains from the disposal of financial assets of approximately **RMB 6.2 million**[29](index=29&type=chunk) [Net Impairment Provision / (Reversal)](index=14&type=section&id=Net%20Impairment%20Provision%20%2F%20%28Reversal%29) This section explains the net impairment provision for the period, noting the increase compared to the prior year's reversal - Net impairment provision was approximately **RMB 0.5 million**, an increase of approximately **RMB 2.2 million** compared to an impairment reversal of approximately **RMB 1.7 million** in the same period last year, primarily due to an impairment reversal on the loan to Tongfang Co., Ltd. in the prior period[30](index=30&type=chunk) [Operating Expenses](index=14&type=section&id=Operating%20Expenses) This section discusses the total operating expenses for the period and the primary drivers of their increase - Total operating expenses were approximately **RMB 152.8 million**, a year-on-year increase of approximately **RMB 7.9 million**, primarily due to increased labor costs and selling expenses (such as promotion and warehouse expenses) influenced by inflation[31](index=31&type=chunk) [Finance Costs](index=14&type=section&id=Finance%20Costs_Financial%20Review) This section briefly notes the finance costs for the period and their slight decrease compared to the prior year - Finance costs were approximately **RMB 0.6 million**, a year-on-year decrease of **RMB 0.1 million**[32](index=32&type=chunk) [Taxation](index=14&type=section&id=Taxation) This section explains the tax credit recorded for the period, contrasting it with the tax expense in the prior year - A tax credit of approximately **RMB 0.6 million** was recorded for the period, compared to a tax expense of **RMB 3.0 million** in the same period last year, primarily due to a decrease in tax expense of approximately **RMB 3.6 million**[33](index=33&type=chunk) [Profit Attributable to Owners of the Company](index=15&type=section&id=Profit%20Attributable%20to%20Owners%20of%20the%20Company_Financial%20Review) This section analyzes the profit attributable to owners of the company, highlighting the impact of reduced gross profit and increased operating expenses - Profit attributable to owners of the Company was approximately **RMB 4.9 million**, a year-on-year decrease of approximately **RMB 6.7 million**, primarily due to decreased gross profit and increased operating expenses[34](index=34&type=chunk) [Financial Resources, Liquidity and Gearing Ratio](index=15&type=section&id=Financial%20Resources%2C%20Liquidity%20and%20Gearing%20Ratio) This section provides an overview of the company's cash position, liquidity, and gearing ratio, noting the decrease in gearing - As of June 30, 2025, cash and cash equivalents were approximately **RMB 607.8 million**[35](index=35&type=chunk) - The gearing ratio was **1.7%**, a decrease from **2.0%** as of December 31, 2024, primarily due to a reduction in lease liabilities of **RMB 5.6 million**[35](index=35&type=chunk) [Assets and Liabilities](index=15&type=section&id=Assets%20and%20Liabilities) This section summarizes the total assets and liabilities, explaining the changes due to reductions in receivables, financial assets, trade payables, and lease liabilities - As of June 30, 2025, total assets were approximately **RMB 1,852.0 million** (December 31, 2024: **RMB 1,887.8 million**), and total liabilities were approximately **RMB 240.6 million** (December 31, 2024: **RMB 271.4 million**)[36](index=36&type=chunk) - The decrease in assets was primarily due to a reduction in loans to a third party and the value of financial assets, while the decrease in liabilities was mainly due to a reduction in trade payables and lease liabilities[36](index=36&type=chunk) [Foreign Exchange Risk](index=15&type=section&id=Foreign%20Exchange%20Risk) This section addresses the group's exposure to foreign currency risk and its current approach to managing it - The Group is exposed to foreign currency risk and currently has no foreign currency hedging policy, but management closely monitors it and will consider hedging when necessary[37](index=37&type=chunk) [Pledge of Assets](index=16&type=section&id=Pledge%20of%20Assets) This section details the assets pledged by the group to secure bank credit facilities - As of June 30, 2025, the Group pledged trade receivables and inventories with a total carrying value of approximately **RMB 164.9 million** to secure bank credit facilities[38](index=38&type=chunk) [Capital Commitments](index=16&type=section&id=Capital%20Commitments) This section confirms the absence of any significant contracted capital expenditures not yet provided for in the financial statements - As of June 30, 2025, the Group had no capital expenditures contracted but not provided for in the financial statements[39](index=39&type=chunk) [Contingent Liabilities](index=16&type=section&id=Contingent%20Liabilities) This section addresses the legal claims involving certain subsidiaries and the board's assessment of their impact - During the period, certain subsidiaries were involved in legal claims, but the directors believe these will not have a material impact on the Group's results and financial position[40](index=40&type=chunk) [Capital Structure](index=16&type=section&id=Capital%20Structure) This section describes the company's issued share capital and the number of ordinary shares outstanding as of June 30, 2025 - As of June 30, 2025, the Company's issued share capital was **RMB 185,672,000**, divided into **2,094,465,417 shares** of **HK$0.10** par value each, consistent with December 31, 2024[41](index=41&type=chunk) [Deposit Services Provided by Finance Company](index=16&type=section&id=Deposit%20Services%20Provided%20by%20Finance%20Company) This section outlines the deposit service agreement with China Nuclear Finance Co., Ltd., including the maximum daily balance and interest rates - The Group entered into a deposit service agreement with China Nuclear Finance Co., Ltd., with a maximum daily balance of **RMB 37,000,000** and annual interest rates ranging from **0.62% to 1.49%**[42](index=42&type=chunk) - As of June 30, 2025, **RMB 33.1 million** had been deposited[42](index=42&type=chunk) [Revolving Loan to Tongfang](index=17&type=section&id=Revolving%20Loan%20to%20Tongfang) This section describes the unsecured revolving loan provided to Tongfang Co., Ltd., including its principal, interest rate, and strategic purpose - The Company provided an unsecured revolving loan of **RMB 400 million** to its ultimate holding company, Tongfang Co., Ltd., bearing an annual interest rate of **3.65%**, which remained outstanding as of June 30, 2025[43](index=43&type=chunk) - This aims to maintain flexible cash resources and earn interest income[43](index=43&type=chunk) [Loan to an Individual](index=17&type=section&id=Loan%20to%20an%20Individual) This section provides an update on the loan to Mr. Wang Lifeng, detailing the amount recovered and the outstanding net book value - As of June 30, 2025, a cumulative **HK$69.2 million** of Mr. Wang Lifeng's loan has been recovered, with an outstanding net book value of principal and accrued interest of **HK$90.1 million**[44](index=44&type=chunk) - The company continues to pursue repayment and seeks to realize collateral[44](index=44&type=chunk) [Significant Acquisitions, Disposals and Material Investments](index=17&type=section&id=Significant%20Acquisitions%2C%20Disposals%20and%20Material%20Investments) This section confirms the absence of any significant acquisitions, disposals, or material investments during the reporting period - There were no significant investments, or significant acquisitions or disposals of subsidiaries, associates, and joint ventures during the period[45](index=45&type=chunk) [Interim Dividends](index=17&type=section&id=Interim%20Dividends_Financial%20Review) This section reiterates the board's decision not to declare any interim dividends for the current period - The Board resolved not to declare any dividends for the period, consistent with the same period last year[46](index=46&type=chunk) [Business Review](index=18&type=section&id=Business%20Review) This section provides an overview of the company's business performance, market conditions, and strategic initiatives [Overview and Outlook](index=18&type=section&id=Overview%20and%20Outlook) This section summarizes the challenging economic environment in the first half of 2025 and outlines the company's strategies for future growth and risk mitigation - In the first half of 2025, global economic growth slowed, geopolitical complexities increased, inflation remained high, and tariff barriers escalated, leading to decreased consumer purchasing power, contraction in non-essential goods market demand, and pressure on the company's revenue, gross profit, and net profit[47](index=47&type=chunk) - The company will proactively plan to address trade frictions and tariff barriers, continuously innovate marketing, expand distribution channels, strengthen domestic industrial chain collaboration, and ensure efficient logistics operations to enhance risk resilience and achieve stable development[47](index=47&type=chunk) - In the second half of the year, the company will deploy in advance, developing differentiated products through market research to gain a larger market share[48](index=48&type=chunk) [Sales and Distribution](index=18&type=section&id=Sales%20and%20Distribution) This section highlights the group's efforts in sales, marketing, and establishing new brands and distribution channels globally - The Group is committed to distribution and marketing, cultivating new sales teams, promoting new lighting product brands, and establishing brands and sales channels in the fastest-growing markets globally, offering energy-saving technologies and solutions[49](index=49&type=chunk) [Research and Development](index=19&type=section&id=Research%20and%20Development) This section outlines the group's R&D focus on product design, new product development, and improving production efficiency to reduce overall costs - The Group's R&D efforts focus on product design, new product development, and improving production efficiency to reduce overall production costs[50](index=50&type=chunk) [Employees and Remuneration Policy](index=19&type=section&id=Employees%20and%20Remuneration%20Policy) This section provides information on the total number of employees and the company's remuneration policy, which is based on industry practices and performance - As of June 30, 2025, the Group had approximately **495 employees** (December 31, 2024: **453 employees**)[51](index=51&type=chunk) - The remuneration policy is based on industry practice, experience, and performance, and is reviewed annually with reference to market and economic conditions[51](index=51&type=chunk) [Corporate Governance](index=19&type=section&id=Corporate%20Governance) This section outlines the company's corporate governance practices, including compliance with the Corporate Governance Code and the Model Code for Directors' Securities Transactions [Corporate Governance Code](index=19&type=section&id=Corporate%20Governance%20Code) This section details the company's commitment to good corporate governance practices and the board's assessment of its leadership structure - The Company is committed to establishing good corporate governance practices[52](index=52&type=chunk) - Ms. Zhang Yuanyuan holds both the Chairman and Chief Executive Officer positions, but the Board believes this structure does not impair the balance of power due to the majority of non-executive and independent non-executive directors[52](index=52&type=chunk) [Model Code for Securities Transactions by Directors of Listed Issuers](index=20&type=section&id=Model%20Code%20for%20Securities%20Transactions%20by%20Directors%20of%20Listed%20Issuers) This section confirms the company's adoption and directors' compliance with the Model Code for Securities Transactions by Directors of Listed Issuers - The Company has adopted the Model Code as set out in Appendix C3 to the Listing Rules as its code of conduct for directors' securities transactions, and all directors confirmed compliance with the said code during the period[53](index=53&type=chunk) [Other Information](index=20&type=section&id=Other%20Information) This section provides other important information, including listed securities transactions, audit committee review, and the publication of the interim report [Purchase, Redemption or Sale of the Company's Listed Securities](index=20&type=section&id=Purchase%2C%20Redemption%20or%20Sale%20of%20the%20Company%27s%20Listed%20Securities) This section confirms that neither the company nor its subsidiaries purchased, redeemed, or sold any of its listed securities during the period - During the period, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities, and the number of treasury shares was zero[54](index=54&type=chunk)[55](index=55&type=chunk) [Review by Audit Committee](index=20&type=section&id=Review%20by%20Audit%20Committee) This section states that the company's audit committee has reviewed the unaudited interim financial information for the period - The Company's Audit Committee has reviewed the Group's unaudited interim financial information for the period[56](index=56&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=20&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This section informs stakeholders about the publication of the interim results announcement and the availability of the full interim report - This interim results announcement has been published on the websites of the Stock Exchange and the Company, and the interim report containing all information will be available on the aforementioned websites in due course[57](index=57&type=chunk) [Definitions](index=20&type=section&id=Definitions) This section provides definitions for key terms and abbreviations used throughout this announcement [Board Information](index=22&type=section&id=Board%20Information) This section lists the members of the company's Board of Directors as of the date of this announcement - As of the date of this announcement, the executive directors are Ms. Zhang Yuanyuan and Mr. Lian Chenwei; the non-executive directors are Mr. Kong Lingqi and Ms. Liu Wenjing; and the independent non-executive directors are Dr. Li Xuejin, Ms. Yang Juan, and Ms. Li Mingqi[60](index=60&type=chunk)

Core Viewpoint - Tongfang Youyou (01868.HK) expects a profit of approximately RMB 4.5 million to RMB 5.5 million for the six months ending June 30, 2025, a significant decrease compared to a profit of about RMB 11.8 million recorded in the same period of 2024 [1] Group 1: Financial Performance - The anticipated profit for the upcoming period is significantly lower than the previous year's profit, indicating a potential decline in financial performance [1] - The expected profit range for the upcoming six months is between RMB 4.5 million and RMB 5.5 million [1] Group 2: Cost Factors - The decrease in profit is primarily attributed to rising material costs due to increased tariffs and freight expenses, which have reduced gross margins compared to the previous fiscal period [1] - Ongoing inflation has led to increased labor costs and sales expenses, including promotional and warehouse costs, contributing to higher selling and distribution expenses compared to the previous fiscal period [1]

Core Viewpoint - Tongfang Youyou (01868) expects a profit of approximately RMB 4.5 million to RMB 5.5 million for the six months ending June 30, 2025, compared to a profit of about RMB 11.8 million for the same period in 2024, indicating a significant decline in profitability [1] Group 1: Financial Performance - The anticipated profit for the upcoming period is significantly lower than the previous year's profit, reflecting a decrease in financial performance [1] - The expected profit range for the upcoming six months is between RMB 4.5 million and RMB 5.5 million [1] Group 2: Cost Factors - The decline in profitability is primarily attributed to increased material costs due to rising tariffs and freight expenses, which have negatively impacted gross margins compared to the previous fiscal period [1] - Ongoing inflation has led to higher labor costs and increased selling expenses, including promotional and warehouse costs, further contributing to the rise in sales and distribution expenses compared to the previous fiscal period [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，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Neo-Neon Holdings Limited 同方友友控股有限公司 （於開曼群島註冊成立的有限公司） 1 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 承董事會命 同方友友控股有限公司 主席 （股份代號：01868） 公告 盈利警告 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及香 港法例第571章證券及期貨條例第XIVA部項下的內幕消息條文（定義見上市規則） 作出。 同方友友控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）謹此告知本公司股東及潛在投資者，根據現時可得的資料，與二零 二四年同期錄得溢利約人民幣11.8百萬元相比，預期本集團截至二零二五年六月 三十日止六個月將錄得溢利介乎約人民幣4.5百萬元至約人民幣5.5百萬元，此乃 主要由於1)關稅及貨運開支上升導致材料成本上漲，使毛利較上個財政期間減少； 及2) ...

格隆汇8月8日丨同方友友(01868.HK)公告，将于2025年8月22日(星期五)举行董事会会议，以批准(其中 包括)公司及其附属公司截至2025年6月30日止6个月未经审核中期业绩，以及考虑派发中期股息(如有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 董事會會議日期 同方友友控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈將於二 零二五年八月二十二日（星期五）舉行董事會會議，以批准（其中包括）本公司及其 附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績，以及考慮派 發中期股息（如有）。 Neo-Neon Holdings Limited 香港，二零二五年八月八日 同方友友控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：01868） 承董事會命 同方友友控股有限公司 主席 張園園 於本公告日期，執行董事為張園園女士及連琛瑋先生；非執行董事為孔令琦先生 及劉文景女士；獨立非執行董事為李學金博士、楊娟女士及李明綺女士。 ...

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。 Neo-Neon Holdings Limited 同方友友控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：01868） 海外監管公告 本公告是由同方友友控股有限公司（「本公司」）依據香港聯合交易所有限公司證券 上市規則第13.10B條作出。 以下所附是本公司按台灣證券交易所股份有限公司的規定於二零二五年八月四日 在台灣證券交易所股份有限公司公開資訊觀測站（MOPS網站）刊發的公告。 承董事會命 同方友友控股有限公司 主席 於本公告日期，本公司執行董事為張園園女士及連琛瑋先生；非執行董事為孔令琦 先生及劉文景女士；獨立非執行董事為李學金博士、楊娟女士及李明綺女士。 同方友友控股有限公司 臺灣存託憑證流通及兌回情形月報表 114 年 7 月 時間__年__月__日，性質 (因海外現金增資發行新股原股東執行優先認購權、 盈餘或資本公積增資而增發相對數額臺灣存託憑證) ：________，增加單位 ...