Core Insights - The company reported a revenue of RMB 5.018 billion for the six months ending June 30, 2025, representing a year-on-year increase of 29.8% [1] - The profit attributable to shareholders was RMB 66.265 million, up 52.63% compared to the previous year [1] - Earnings per share stood at RMB 0.11 [1] Revenue Breakdown - The advertising business generated a total billings of approximately RMB 7.9 billion, with direct advertiser business accounting for 62.8% of this total [1] - Total revenue for the company reached approximately RMB 5 billion, an increase from about RMB 3.9 billion in the same period of 2024, reflecting a growth of 29.8% [1] Profitability and Efficiency - The net profit for the period was RMB 64.8 million, which is a growth of about 50.2% from approximately RMB 43.2 million in 2024 [1] - The company demonstrated improved operational efficiency and financial stability during this period [1] Expansion in E-commerce - The live e-commerce business successfully launched in South America and Europe, achieving a gross merchandise value (GMV) of RMB 513 million, slightly down from RMB 539 million in the same period of 2024 [1]

[Interim Results Announcement](index=1&type=section&id=Interim%20Results%20Announcement) [Financial Results Summary](index=1&type=section&id=Financial%20Results%20Summary) Uju Holdings Limited announced its unaudited interim results for the six months ended June 30, 2025, showing significant growth in both revenue and net profit, with improved operational efficiency and financial stability | Metric | 2025 (RMB million) | 2024 (RMB million) | Change | | :--- | :--- | :--- | :--- | | Revenue | 5,018.3 | 3,867.1 | 29.8% | | Gross Profit | 153.1 | 150.8 | 1.5% | | Profit before income tax | 84.7 | 51.9 | 63.2% | | Profit for the period attributable to owners of the Company | 66.3 | 43.4 | 52.8% | [Management Discussion and Analysis](index=2&type=section&id=Management%20Discussion%20and%20Analysis) [Business Overview and Strategy](index=2&type=section&id=Business%20Overview%20and%20Strategy) The Group actively responds to the disruptive changes brought by AI technology to the marketing industry, accelerating upgrades through digitalization and intelligent solutions, focusing on advertising placement and content creation to enhance customer service delivery, while setting a "RMB 10 billion self-operation" strategic goal and implementing a "talent density a step ahead" organizational strategy - AI technology is fundamentally transforming the digital marketing industry across thinking, collaboration, business flows, and asset monetization, creating significant opportunities for the Group[5](index=5&type=chunk) - In the first half of 2025, the Group's total advertising business billings were approximately **RMB 7.9 billion**, with direct advertiser business accounting for **62.8%**[5](index=5&type=chunk) - Live e-commerce business successfully launched in South American and European markets, with a Gross Merchandise Volume (GMV) of **RMB 512.8 million** (RMB 539.2 million in the same period of 2024)[5](index=5&type=chunk) - The intelligent advertising platform U-Engine completed its upgrade, integrating mainstream media platform algorithms, increasing client budget utilization by **12 percentage points**, connected to **7 mainstream media ecosystems**, serving **8 major vertical industries**, and cumulatively managing advertising budgets exceeding **RMB 50 billion**[6](index=6&type=chunk) - The intelligent content creation platform U-Crane integrates **12 core AI technologies**, combining algorithms like Stable Diffusion and LLM, supporting multi-modal content creation, improving content production efficiency by **8 times** compared to traditional methods, and reducing the average cost per video by **75%**[7](index=7&type=chunk) - Organizational collaboration model actively adjusted, implementing "business-technology integration," with technology teams empowering various functions to achieve comprehensive penetration of business, information, and capital flows, enhancing customer response agility[8](index=8&type=chunk) - "RMB 10 billion self-operation" is a key strategic goal, focusing on core value clients, industries, and regional markets to increase market share[9](index=9&type=chunk) - The organizational strategy adheres to the "talent density a step ahead" principle, dividing teams into basic operators and strategic innovators, and implementing a "three empowerment, three pursuit" incentive system[9](index=9&type=chunk) [Revenue Analysis](index=4&type=section&id=Revenue%20Analysis) The Group's total revenue increased by 29.8% year-on-year, primarily driven by online marketing solutions, which grew by 30.3% and accounted for 99.4% of total revenue; live e-commerce revenue decreased due to proactive restructuring, with e-commerce remaining the largest client group, though internet services client share rose Revenue by Source | Revenue Source | 2025 (RMB thousand) | % of Total | 2024 (RMB thousand) | % of Total | | :--- | :--- | :--- | :--- | :--- | | Online Marketing Solutions Business | 4,989,591 | 99.4% | 3,828,615 | 99.0% | | Live E-commerce Business | 27,938 | 0.5% | 36,965 | 0.9% | | Others | 765 | 0.1% | 1,558 | 0.1% | | **Total** | **5,018,294** | **100.0%** | **3,867,138** | **100.0%** | - Revenue from online marketing solutions business increased by **30.3%**, primarily due to enhanced operational and creative teams, expansion of the internet advertising market, and successful acquisition of new clients[12](index=12&type=chunk) - Revenue from live e-commerce business decreased by **24.4%**, mainly due to proactive restructuring in response to market changes and reallocation of resources to core businesses[12](index=12&type=chunk) Online Marketing Solutions Business Revenue by Advertiser Client Type | Client Type | 2025 (RMB thousand) | % of Total | 2024 (RMB thousand) | % of Total | | :--- | :--- | :--- | :--- | :--- | | Advertisers | 4,938,466 | 99.0% | 3,806,587 | 99.4% | | Advertising Agencies | 51,125 | 1.0% | 22,028 | 0.6% | | **Total** | **4,989,591** | **100.0%** | **3,828,615** | **100.0%** | Online Marketing Solutions Business Revenue by Industry | Industry | 2025 (RMB thousand) | % of Total | 2024 (RMB thousand) | % of Total | | :--- | :--- | :--- | :--- | :--- | | E-commerce | 2,228,689 | 45.2% | 2,082,802 | 54.8% | | Internet Services | 968,475 | 19.6% | 548,834 | 14.4% | | Financial Services | 747,946 | 15.1% | 443,042 | 11.6% | | Gaming | 668,494 | 13.5% | 485,288 | 12.7% | | Leisure Travel | 145,565 | 2.9% | 114,166 | 3.0% | | Education | 57,740 | 1.2% | 75,961 | 2.0% | | Real Estate and Home Decoration | 24,704 | 0.5% | 6,398 | 0.2% | | Others | 96,853 | 2.0% | 50,096 | 1.3% | | **Total** | **4,938,466** | **100.0%** | **3,806,587** | **100.0%** | - The e-commerce industry remains the largest advertiser client group, but its proportion has decreased; the internet services client group's proportion has increased[17](index=17&type=chunk) [Cost of Services and Gross Profit](index=7&type=section&id=Cost%20of%20Services%20and%20Gross%20Profit) Cost of services primarily consists of traffic acquisition and monitoring costs and employee benefit expenses, with traffic acquisition costs being the largest component; gross profit slightly increased year-on-year, but gross margin decreased as revenue growth was slightly lower than the increase in cost of services Cost of Services Breakdown | Cost Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Traffic Acquisition and Monitoring Costs | 4,777,776 | 3,645,838 | | Employee Benefit Expenses | 51,286 | 41,209 | | Outsourcing Short Video Production, Advertising and Live Streamer Costs | 7,891 | 8,779 | | Cost of Inventories Sold | 5,610 | 8,463 | | Depreciation and Amortization Expenses | 2,992 | 3,173 | | Taxes and Surcharges | 13,020 | 5,439 | | Others | 6,650 | 3,417 | | **Total** | **4,865,225** | **3,716,318** | - Traffic acquisition and monitoring costs accounted for approximately **98.2%** of total cost of services (2024: 98.1%)[19](index=19&type=chunk) - Employee benefit expenses increased, attributable to business growth[19](index=19&type=chunk) Gross Profit and Gross Margin | Metric | 2025 (RMB million) | 2024 (RMB million) | | :--- | :--- | :--- | | Gross Profit | 153.1 | 150.8 | | Gross Margin | 3.1% | 3.9% | - Gross margin decreased primarily because the proportion of revenue increase was slightly lower than the proportion of cost of services increase[20](index=20&type=chunk) [Operating Expenses](index=8&type=section&id=Operating%20Expenses) Selling expenses, general and administrative expenses both decreased, mainly due to reduced domestic self-operated e-commerce live streaming expenses, employee benefit expenses, and professional consulting service fees, while research and development expenses increased due to higher software service fees - Selling expenses decreased by **25.4%**, from **RMB 16.1 million** to **RMB 12.0 million**, primarily due to reduced live streaming expenses for domestic self-operated e-commerce business[21](index=21&type=chunk) - General and administrative expenses decreased by **13.1%**, from **RMB 41.9 million** to **RMB 36.4 million**, mainly due to reduced employee benefit expenses and professional and consulting service fees[22](index=22&type=chunk) - Research and development expenses increased by **20.5%**, from **RMB 4.4 million** to **RMB 5.3 million**, primarily due to increased software service fees for R&D activities[23](index=23&type=chunk) [Other Income and Expenses](index=8&type=section&id=Other%20Income%20and%20Expenses) Net impairment loss on financial assets significantly decreased, reflecting effective credit risk control; other income substantially grew due to increased government grants; net other gains turned from loss to gain, primarily benefiting from increased exchange gains and reduced onerous contract provisions, partially offset by litigation loss provisions; net finance costs turned from income to cost, mainly due to increased interest expenses - Net impairment loss on financial assets decreased by **62.5%**, from **RMB 30.9 million** to **RMB 11.6 million**, primarily due to effective credit risk control[24](index=24&type=chunk) - Other income increased by **500%**, from **RMB 0.2 million** to **RMB 1.2 million**, primarily due to increased government grants[25](index=25&type=chunk) - Net other gains/(losses) turned from a loss of **RMB 7.7 million** to a gain of **RMB 1.3 million**, mainly due to increased net exchange gains and reduced onerous contract provisions, partially offset by further provisions for litigation losses[26](index=26&type=chunk) - Net finance (costs)/income turned from an income of **RMB 1.9 million** to a cost of **RMB 5.7 million**, primarily due to increased interest expenses or other finance costs and a slight decrease in interest income[27](index=27&type=chunk) [Income Tax and Net Profit](index=9&type=section&id=Income%20Tax%20and%20Net%20Profit) Income tax expense significantly increased due to higher profit before income tax and an increased effective income tax rate; profit for the period attributable to owners of the Company substantially grew, and net profit margin also improved - Income tax expense increased by **127.7%**, from **RMB 8.7 million** to **RMB 19.9 million**, primarily due to increased profit before income tax and a higher effective income tax rate[28](index=28&type=chunk) - The effective income tax rate increased from **16.8%** to **23.5%**, mainly due to a decreased profit contribution from Hainan Uju, which enjoys a **15.0%** preferential tax rate[28](index=28&type=chunk) - Profit for the period attributable to owners of the Company increased by **52.8%**, from **RMB 43.4 million** to **RMB 66.3 million**[29](index=29&type=chunk) - Net profit margin improved from **1.1%** to **1.3%**[29](index=29&type=chunk) [Liquidity and Capital Resources](index=10&type=section&id=Liquidity%20and%20Capital%20Resources) The Group's business operations and expansion plans require substantial funding, primarily financed by cash and cash equivalents on hand; bank and other borrowings increased, the gearing ratio slightly rose, and cash and cash equivalents decreased - Business operations and expansion plans require substantial capital for user traffic acquisition, content production enhancement, big data analytics and operational capability improvement, U-Engine platform upgrades, and other working capital needs[30](index=30&type=chunk) - Bank and other borrowings were approximately **RMB 289.0 million** (December 31, 2024: RMB 248.2 million), with effective annual interest rates ranging from **1.3% to 4.7%**[30](index=30&type=chunk) - Gearing ratio increased from **0.18 times** to **0.2 times**[30](index=30&type=chunk) Cash and Cash Equivalents | Currency | June 30, 2025 (RMB million) | December 31, 2024 (RMB million) | | :--- | :--- | :--- | | RMB | 522.7 | 622.8 | | USD | 194.1 | 152.0 | | HKD | 2.7 | 7.2 | | GBP | 0.1 | — | | **Total** | **719.6** | **782.0** | - Cash and cash equivalents decreased, primarily due to net cash outflow from ordinary operating activities[30](index=30&type=chunk) [Financial Ratios](index=11&type=section&id=Financial%20Ratios) The Group's profitability ratios (net profit margin, return on equity, return on assets) all improved, but gross margin slightly decreased; the current ratio remained stable, and the gearing ratio slightly increased Key Financial Ratios | Ratio Type | Metric | June 30, 2025 (%) | June 30, 2024 (%) | | :--- | :--- | :--- | :--- | | Profitability Ratios | Gross Margin | 3.1 | 3.9 | | | Net Profit Margin | 1.3 | 1.1 | | | Return on Equity | 8.7 | 6.2 | | | Return on Assets | 2.6 | 2.2 | | Liquidity Ratios | Current Ratio | 1.4 | 1.4 | | Capital Adequacy Ratios | Gearing Ratio | 0.20 | 0.18 | [Interim Condensed Consolidated Financial Statements](index=12&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) [Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=12&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's statement of profit or loss for the six months ended June 30, 2025, shows significant growth in both revenue and profit for the period, but a decrease in gross margin; other comprehensive income was affected by exchange differences and fair value changes of equity investments Key Profit or Loss Data | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 5,018,294 | 3,867,138 | | Gross Profit | 153,069 | 150,820 | | Operating Profit | 90,346 | 50,023 | | Profit before income tax | 84,696 | 51,891 | | Profit for the period | 64,797 | 43,153 | | Profit for the period attributable to owners of the Company | 66,265 | 43,414 | | Basic Earnings Per Share (RMB) | 0.11 | 0.07 | - Exchange differences on translation of overseas operations resulted in a gain of **RMB 8,194 thousand** (2024: loss of RMB 4,052 thousand)[34](index=34&type=chunk) - Fair value changes of equity investments at fair value through other comprehensive income resulted in a loss of **RMB 3,565 thousand** (2024: nil)[34](index=34&type=chunk) [Interim Condensed Consolidated Statement of Financial Position](index=14&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets and current assets both increased, primarily driven by higher trade receivables; total liabilities and current liabilities also increased accordingly, while total equity maintained steady growth Key Statement of Financial Position Data | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Total Non-current Assets | 67,927 | 69,559 | | Total Current Assets | 4,993,126 | 4,526,946 | | **Total Assets** | **5,061,053** | **4,596,505** | | Total Non-current Liabilities | 2,908 | 3,396 | | Total Current Liabilities | 3,565,667 | 3,136,547 | | **Total Liabilities** | **3,568,575** | **3,139,943** | | Total Equity | 1,492,478 | 1,456,562 | - Net trade receivables increased from **RMB 3,168,584 thousand** to **RMB 3,734,958 thousand**[35](index=35&type=chunk) - Trade payables increased from **RMB 2,095,504 thousand** to **RMB 2,485,989 thousand**[36](index=36&type=chunk) - Cash and cash equivalents decreased from **RMB 782,032 thousand** to **RMB 719,626 thousand**[35](index=35&type=chunk) [Notes to Interim Condensed Consolidated Financial Information](index=16&type=section&id=Notes%20to%20Interim%20Condensed%20Consolidated%20Financial%20Information) [General Information](index=16&type=section&id=General%20Information) Uju Holdings Limited was incorporated in the Cayman Islands on September 21, 2020, and listed on the Main Board of the Hong Kong Stock Exchange on November 8, 2021; the Group primarily provides one-stop cross-media online marketing solutions, including advertising distribution and live e-commerce services - The Company was incorporated in the Cayman Islands as an exempted company with limited liability on **September 21, 2020**[37](index=37&type=chunk) - The Company completed its listing on the Main Board of The Stock Exchange of Hong Kong Limited on **November 8, 2021**[38](index=38&type=chunk) - The Group primarily markets products and services for advertiser clients through media partners, providing advertising distribution services and live e-commerce services[38](index=38&type=chunk) [Basis of Preparation and Accounting Policies](index=16&type=section&id=Basis%20of%20Preparation%20and%20Accounting%20Policies) The interim financial information is prepared in accordance with IAS 34 and should be read in conjunction with the 2024 annual consolidated financial statements; the Group has adopted certain new or revised standards, which are not expected to have a significant impact on the current or future periods, and unadopted standards are listed - The interim condensed consolidated financial information has been prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting"[39](index=39&type=chunk) - The accounting policies adopted are consistent with those applied in the previous financial year and the corresponding interim reporting period, except for the adoption of new or revised standards[39](index=39&type=chunk) - The Group first applied "Lack of Exchangeability — Amendments to IAS 21" for the financial year beginning on **January 1, 2025**, but it is irrelevant and has no significant impact on the Group[40](index=40&type=chunk) - Several new or revised standards not yet adopted are listed, including IFRS 18 "Presentation and Disclosure in Financial Statements," with other standards not expected to have a significant impact apart from this[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk) [Estimates and Judgements](index=18&type=section&id=Estimates%20and%20Judgements) The preparation of interim financial information involves management's judgments, estimates, and assumptions, which are consistent with those applied in the 2024 annual consolidated financial statements - The significant judgments made by management in applying the Group's material accounting policies and the key sources of estimation uncertainty are the same as those applied in the Company's 2024 annual consolidated financial statements[44](index=44&type=chunk) [Segment Information](index=18&type=section&id=Segment%20Information) The Group primarily provides one-stop online marketing solutions in China, with the chief operating decision-maker focusing on overall operating results, thus the Group's business is operated and managed as a single reporting segment - The Group primarily engages in providing one-stop online marketing solutions, advertising distribution services, and live e-commerce marketing services to clients in China[45](index=45&type=chunk) - The chief operating decision-maker focuses on the Group's overall operating results, and therefore the Group's business is operated and managed as a single reporting segment[45](index=45&type=chunk) [Revenue from Customer Contracts](index=18&type=section&id=Revenue%20from%20Customer%20Contracts) The Group's revenue primarily derives from one-stop online marketing solutions, with revenue recognized at a point in time accounting for the largest proportion; credit risk is concentrated with a major client A, contributing approximately 44% of total revenue Revenue from Customer Contracts by Category | Revenue Category | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | One-stop Online Marketing Solutions Services | 4,938,466 | 3,806,587 | | Advertising Distribution Services | 51,125 | 22,028 | | Live E-commerce Business | 27,938 | 36,965 | | Provision of Other Services | 765 | 1,558 | | **Total** | **5,018,294** | **3,867,138** | Revenue by Timing of Recognition | Timing of Recognition | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | At a point in time | 4,339,926 | 3,341,482 | | Over time | 678,368 | 525,656 | | **Total** | **5,018,294** | **3,867,138** | - Credit risk is concentrated with a major client A, which contributed approximately **44%** and **51%** of the Group's total revenue for the six months ended June 30, 2025, and 2024, respectively[48](index=48&type=chunk) [Expenses by Nature](index=19&type=section&id=Expenses%20by%20Nature) The Group's total expenses are primarily composed of traffic acquisition and monitoring costs, with employee benefit expenses, taxes and surcharges, and outsourcing costs also being significant components Expenses by Nature Breakdown | Expense Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Traffic Acquisition and Monitoring Costs | 4,777,776 | 3,645,838 | | Employee Benefit Expenses | 90,701 | 82,671 | | Taxes and Surcharges | 13,020 | 5,439 | | Outsourcing Short Video Production, Advertising and Live Streamer Costs | 8,593 | 13,231 | | Professional and Consulting Service Fees | 6,145 | 10,020 | | Cost of Inventories Sold and Consumed | 5,610 | 8,463 | | Depreciation and Amortization Expenses | 5,204 | 5,368 | | Transportation Costs | 3,825 | 1,610 | | Office Expenses | 3,676 | 2,042 | | Travel and Entertainment Expenses | 2,723 | 2,772 | | Others | 1,673 | 1,235 | | **Total** | **4,918,946** | **3,778,689** | [Net Impairment Loss on Financial Assets](index=20&type=section&id=Net%20Impairment%20Loss%20on%20Financial%20Assets) Net impairment loss on financial assets primarily arose from provisions for trade and other receivables, significantly decreasing in the current period Impairment Loss Provision Breakdown | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Receivables | 11,462 | 26,769 | | Other Receivables | 94 | 4,143 | | **Total** | **11,556** | **30,912** | [Other Income](index=20&type=section&id=Other%20Income) Other income for the period primarily consisted of government grants and achieved substantial growth Other Income Breakdown | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Government Grants | 1,068 | 63 | | Others | 141 | 96 | | **Total** | **1,209** | **159** | [Net Other Gains/(Losses)](index=20&type=section&id=Net%20Other%20Gains%2F%28Losses%29) Net other gains for the period turned from a loss to a gain, primarily influenced by positive foreign exchange gains and gains from disposal of equity investments, though litigation loss provisions increased Net Other Gains/(Losses) Breakdown | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Provision for litigation losses | (3,652) | — | | Net foreign exchange gains/(losses) | 2,632 | (216) | | Net gain on disposal of equity investments | 1,867 | — | | Reversal of/(provision for) impairment and loss on goods obtained in physical settlement arrangements | 484 | (2,729) | | Provision for an onerous contract | — | (5,705) | | Others | 14 | 977 | | **Total** | **1,345** | **(7,673)** | - A further provision of **RMB 3,652 thousand** has been recognized for legal claims from a financial supplier based on the latest litigation developments[51](index=51&type=chunk) - The prior period's onerous contract provision related to a one-year contract with a third party, with the associated loss caused by several unexpected one-off events[52](index=52&type=chunk) [Income Tax Expense](index=21&type=section&id=Income%20Tax%20Expense) Income tax expense primarily comprises current income tax expense and deferred income tax credit, with a significant increase in the current period, mainly influenced by China's corporate income tax rate and Hainan Uju's preferential tax rate Income Tax Expense Breakdown | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Current income tax expense | 21,444 | 14,756 | | Deferred income tax credit | (1,545) | (6,018) | | **Income Tax Expense** | **19,899** | **8,738** | - The Company is not subject to income tax in the Cayman Islands, and no Hong Kong profits tax provision was made due to no assessable profits in Hong Kong[54](index=54&type=chunk)[55](index=55&type=chunk) - China's corporate income tax rate is **25%**, Hainan Uju Technology Co., Ltd. enjoys a **15.0%** preferential corporate income tax rate, and certain small low-profit enterprises enjoy a **20%** tax rate[56](index=56&type=chunk) [Dividends](index=22&type=section&id=Dividends) The Company declared a final dividend for the year ended December 31, 2024, but no interim dividend was declared for the six months ended June 30, 2025 - The Company declared a final dividend of **HKD 4 cents** per ordinary share for the year ended December 31, 2024, totaling approximately **HKD 24,000,000** (approximately **RMB 22,225,000**)[58](index=58&type=chunk) - No interim dividends were declared for the six months ended June 30, 2025, and 2024[59](index=59&type=chunk) [Earnings Per Share](index=22&type=section&id=Earnings%20Per%20Share) Increased profit for the period attributable to owners of the Company led to higher basic earnings per share; diluted earnings per share are the same as basic earnings per share due to no dilutive potential ordinary shares outstanding Earnings Per Share Calculation | Metric | 2025 (RMB thousand/thousand shares/RMB) | 2024 (RMB thousand/thousand shares/RMB) | | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company | 66,265 | 43,414 | | Weighted average number of ordinary shares in issue during the period | 590,919 | 590,919 | | **Basic Earnings Per Share** | **0.11** | **0.07** | - The diluted earnings per share presented are the same as the basic earnings per share because there were no dilutive potential ordinary shares outstanding as of June 30, 2025, and 2024[62](index=62&type=chunk) [Trade and Other Receivables](index=23&type=section&id=Trade%20and%20Other%20Receivables) Total trade receivables increased, including certain transferred trade receivables subject to factoring arrangements; the aging analysis of trade receivables shows that most are within 90 days Trade Receivables Breakdown | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Receivables | 3,862,012 | 3,284,262 | | Less: Provision for credit losses | (127,054) | (115,678) | | **Net Trade Receivables** | **3,734,958** | **3,168,584** | - The carrying amount of trade receivables includes certain transferred trade receivables subject to factoring arrangements, where the Group retains overdue payment and credit risk[63](index=63&type=chunk) Transferred Trade Receivables and Related Secured Borrowings | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Transferred Trade Receivables | 58,854 | — | | Related Secured Borrowings | 50,026 | — | Aging Analysis of Trade Receivables | Aging | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Within 90 days | 3,529,073 | 3,107,466 | | 91 to 180 days | 197,736 | 77,864 | | 181 to 270 days | 29,143 | 6,080 | | 271 days to 1 year | 18,469 | 3,934 | | Over 1 year | 87,591 | 88,918 | | **Total** | **3,862,012** | **3,284,262** | [Trade and Other Payables](index=25&type=section&id=Trade%20and%20Other%20Payables) Total trade payables increased, with most due within 6 months; the Group provided guarantees for certain payment obligations under cooperation agreements with media platforms Aging Analysis of Trade Payables | Aging | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Less than 6 months | 2,478,151 | 2,087,566 | | 6 months to 1 year | 2,579 | 1,251 | | Over 1 year | 5,259 | 6,687 | | **Total** | **2,485,989** | **2,095,504** | - Third-party guarantee companies provided guarantees for certain payment obligations under cooperation agreements signed by Hainan Uju and Uju Beijing with media platforms, with guaranteed amounts of approximately **RMB 330,000,000** (December 31, 2024: RMB 390,000,000) respectively[66](index=66&type=chunk) [Other Information](index=26&type=section&id=Other%20Information) [Treasury Policy and Foreign Exchange Risk](index=26&type=section&id=Treasury%20Policy%20and%20Foreign%20Exchange%20Risk) The Group adopts a prudent financial management approach, maintaining a robust liquidity position and mitigating credit risk through continuous credit assessments; foreign exchange risk primarily arises from overseas media traffic acquisition costs paid in USD and is hedged through foreign exchange options - The Group strives to mitigate credit risk by continuously assessing and evaluating the financial standing of its clients[68](index=68&type=chunk) - Foreign exchange risk primarily arises from overseas media traffic acquisition costs paid in USD and is hedged through foreign exchange options[69](index=69&type=chunk) [Capital Structure](index=26&type=section&id=Capital%20Structure) The capital structure has remained unchanged since the Company's shares were listed on the Main Board of the Hong Kong Stock Exchange on November 8, 2021 - The Company's shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on **November 8, 2021**[70](index=70&type=chunk) - The Company's capital structure has remained unchanged since the listing date[70](index=70&type=chunk) [Contingent Liabilities](index=26&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no material contingent liabilities - As of June 30, 2025, and December 31, 2024, the Group had no material contingent liabilities, save as otherwise disclosed[71](index=71&type=chunk) [Charges on the Group's Assets](index=26&type=section&id=Charges%20on%20the%20Group%27s%20Assets) As of June 30, 2025, restricted cash balances were pledged as security for the Group's bank borrowings, factoring borrowings from financial institutions, and bills payable - As of June 30, 2025, restricted cash balances of approximately **RMB 116.9 million** (December 31, 2024: RMB 99.4 million) were pledged as security for the Group's bank borrowings, factoring borrowings from financial institutions, and bills payable[72](index=72&type=chunk) [Use of Net Proceeds from Global Offering](index=27&type=section&id=Use%20of%20Net%20Proceeds%20from%20Global%20Offering) The Group has utilized approximately HKD 628.6 million of net proceeds from the global offering, primarily for upgrading the U-Engine platform, expanding e-commerce opportunities, enhancing content creation capabilities, strengthening sales and marketing teams, expanding the media base, and exploring new businesses; the remaining approximately HKD 119.9 million will be used for strategic investments and acquisitions Use of Net Proceeds from Global Offering | Purpose | Approximate % of Total Net Proceeds | Net Proceeds from Global Offering (HKD million) | Net Proceeds Utilized as of June 30, 2025 (HKD million) | Remaining Net Proceeds as of June 30, 2025 (HKD million) | | :--- | :--- | :--- | :--- | :--- | | Upgrading U-Engine platform | 2.3% | 17.0 | 17.0 | — | | Developing digital service platform for U-Engine | 2.0% | 14.8 | 14.8 | — | | Upgrading internal management system | 0.6% | 4.4 | 4.4 | — | | Expanding business opportunities for online short video platform e-commerce | 3.3% | 24.4 | 24.4 | — | | Enhancing content creation capabilities with AI technology | 6.6% | 49.6 | 49.6 | — | | Strengthening sales and marketing teams | 3.4% | 25.2 | 25.2 | — | | Expanding media base | 15.6% | 117.0 | 117.0 | — | | Exploring new businesses with new advertiser clients and online media platforms | 40.3% | 302.1 | 302.1 | — | | Seeking strategic investments and acquisitions | 16.0% | 119.9 | — | 119.9 | | Working capital and general corporate purposes | 9.9% | 74.1 | 74.1 | — | | **Total** | **100%** | **748.5** | **628.6** | **119.9** | - The remaining net proceeds of approximately **HKD 119.9 million** are deposited in licensed banks in Hong Kong or China, and are expected to be fully utilized by the end of the year ending **December 31, 2026**[73](index=73&type=chunk)[74](index=74&type=chunk) [Material Investments and Acquisitions/Disposals](index=28&type=section&id=Material%20Investments%20and%20Acquisitions%2FDisposals) As of June 30, 2025, the Group held no material equity investments in any other companies, had no future plans for material investments and capital assets, and no material acquisitions or disposals of subsidiaries, associates, and joint ventures occurred - As of **June 30, 2025**, the Group held no material equity investments in any other companies[75](index=75&type=chunk) - As of the date of this announcement, the Group had no plans for material investments and capital assets[76](index=76&type=chunk) - During the six months ended **June 30, 2025**, no material acquisitions or disposals of subsidiaries, associates, and joint ventures occurred within the Group[77](index=77&type=chunk) [Events After the Reporting Period](index=28&type=section&id=Events%20After%20the%20Reporting%20Period) As of the date of this announcement, the Group had no material events after June 30, 2025 - As of the date of this announcement, the Group had no material events after **June 30, 2025**[78](index=78&type=chunk) [Interim Dividends](index=28&type=section&id=Interim%20Dividends) The Board did not declare any interim dividend for the six months ended June 30, 2025 - The Board did not declare any interim dividend for the six months ended **June 30, 2025**[79](index=79&type=chunk) [Employees and Remuneration Policy](index=29&type=section&id=Employees%20and%20Remuneration%20Policy) The Group's employee headcount increased, with a corresponding rise in total employee costs; the Group highly values talent recruitment, training, and retention, offering competitive remuneration and implementing share option and share award schemes - As of **June 30, 2025**, the Group had **884 employees** (December 31, 2024: 645 employees)[80](index=80&type=chunk) - Total employee costs for the six months ended **June 30, 2025**, were approximately **RMB 90.7 million** (same period in 2024: approximately RMB 82.7 million)[80](index=80&type=chunk) - The Group implemented a share option scheme adopted on **October 8, 2021**, and a share award scheme on **May 22, 2023**, with no shares or share options granted under these schemes as of **June 30, 2025**[80](index=80&type=chunk) [Corporate Governance](index=29&type=section&id=Corporate%20Governance) The Group is committed to maintaining high corporate governance standards and has complied with the Corporate Governance Code set out in Appendix C1 of the HKEX Listing Rules; directors have confirmed compliance with the Model Code for Securities Transactions by Directors of Listed Issuers - For the six months ended **June 30, 2025**, the Company complied with the code provisions set out in Part 2 of the Corporate Governance Code in Appendix C1 to the Listing Rules of the Stock Exchange[81](index=81&type=chunk) - Each Director confirmed their full compliance with the required standards set out in the Model Code for Securities Transactions by Directors of Listed Issuers for the six months ended **June 30, 2025**[83](index=83&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=30&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Listed%20Securities) For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the six months ended **June 30, 2025**, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[84](index=84&type=chunk) - The trustee of the share award scheme also did not purchase any shares of the Company[84](index=84&type=chunk) [Audit Committee and Review of Financial Information](index=30&type=section&id=Audit%20Committee%20and%20Review%20of%20Financial%20Information) The Audit Committee reviewed the Group's adopted accounting principles and practices, unaudited interim financial information, and this interim results announcement, deeming them compliant with applicable accounting standards and Listing Rules; the interim condensed financial information was reviewed by the Company's auditor in accordance with ISRE 2410 - The Audit Committee, comprising three independent non-executive directors, reviewed the Group's accounting principles and practices, the unaudited interim financial information, and this interim results announcement[85](index=85&type=chunk) - The Audit Committee believes that the preparation of the financial information complies with applicable accounting standards, the requirements of the Listing Rules, and any other applicable legal requirements, and that appropriate disclosures have been made[85](index=85&type=chunk) - The interim condensed financial information for the six months ended **June 30, 2025**, is unaudited but has been reviewed by the Company's auditor in accordance with International Standard on Review Engagements 2410[86](index=86&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=31&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This interim results announcement has been published on the HKEX website and the Company's website, and the interim report will be published on the aforementioned websites in due course - This interim results announcement is published on the HKEX website (www.hkexnews.hk) and the Company's website (www.ujumedia.com)[87](index=87&type=chunk) - The Company's interim report for the six months ended **June 30, 2025**, containing all information required by the Listing Rules, will be published on the aforementioned websites in due course[87](index=87&type=chunk)

Core Viewpoint - The company expects a more than 50% increase in profit attributable to shareholders for the half-year ending June 30, 2025, compared to the same period in 2024 [1] Group 1: Financial Performance - The company is focusing on service delivery to meet the marketing effectiveness needs of advertisers, which is expected to expand revenue scale and establish lasting customer relationships [1] - The company has significantly improved the production capacity of advertising materials at its creative bases in Wuhan and Chongqing by leveraging AI technology [1] - Through enhanced monitoring of accounts receivable and management of working capital, the company anticipates a decrease in credit losses [1] Group 2: Operational Efficiency - The company has achieved cost reduction and efficiency improvement, and there have been no one-time losses as seen in the previous period [1]

Core Viewpoint - The company expects to achieve a profit attributable to shareholders for the half-year ending June 30, 2025, that will increase by over 50% compared to the same period in 2024 [1] Group 1: Reasons for Profit Increase - The company continues to focus on service delivery, meeting advertisers' needs for marketing effectiveness, which helps establish long-term partnerships with clients and expands revenue scale [1] - The use of AI technology has significantly enhanced the production capacity of advertising materials at the company's creative bases in Wuhan and Chongqing [1] - The company has improved its accounts receivable monitoring system and working capital management capabilities, leading to a decrease in expected credit losses for the half-year ending June 30, 2025 [1] - Cost reduction and efficiency improvements, along with the absence of one-time losses experienced in the previous period, contribute to the profit increase [1]

Core Viewpoint - The company expects to achieve a profit attributable to shareholders for the half-year ending June 30, 2025, that will increase by over 50% compared to the same period in 2024 [1] Group 1: Reasons for Profit Increase - The company continues to focus on service delivery, meeting advertisers' needs for marketing effectiveness, which helps establish long-term partnerships with clients and expands revenue scale [1] - The use of AI technology has significantly enhanced the production capacity of advertising materials at the company's creative bases in Wuhan and Chongqing [1] - The company has improved its accounts receivable monitoring system and working capital management capabilities, leading to a decrease in expected credit losses for the half-year ending June 30, 2025 [1] - Cost reduction and efficiency improvements, along with the absence of one-time losses experienced in the previous period, contribute to the profit increase [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 正面盈利預告 本公告乃由UJU HOLDING LIMITED（「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(2)條及香港法例第571章證 券及期貨條例第XIVA部項下之內幕消息條文而刊發。 本公司董事（「董事」）會（「董事會」）謹此通知本集團股東（「股東」）及有意投資 者，根據對本集團截至2025年6月30日止的未經審核綜合管理賬目所作之初步 審閱及董事會現時可得的資料，本公司預期將錄得截至2025年6月30日止半年 度的本公司擁有人應佔溢利較2024年同期增長超過50%。 預期本公司截至2025年6月30日止半年度的本公司擁有人應佔溢利增加，主要 由於下列原因所致： – 1 – (a) 本集團持續聚焦在服務的交付環節，滿足廣告主客戶對行銷效果的需求， 從而與廣告主客戶建立持久的夥伴關係，收入規模持續擴大； (b) 借助AI技術，本集團位於武漢、重慶的創 ...

Group 1 - The company, Youju Holdings (01948.HK), will hold a board meeting on August 28, 2025, to approve its unaudited interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend for the same period if applicable [1] - Youju Holdings has appointed Cheng Yu as the executive director and chairman of the board [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 承董事會命 优矩控股有限公司 董事會主席兼執行董事 程宇 北京，2025年8月18日 於本公告日期，董事會成員包括：執行董事程宇先生、彭亮先生、馬曉霞女士及李念先生； 及獨立非執行董事王高先生、葉菲先生及宋屹女士。 UJU HOLDING LIMITED 優 矩 控 股 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股 份 代 號：1948） 董事會會議日期 优矩控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於2025年 8月28日（星期四）舉行董事會會議，藉以（其中包括）批准本公司及其附屬公司 截至2025年6月30日止六個月之未經審核中期業績及其發佈，以及考慮建議派 發截至2025年6月30日止六個月中期股息（如有）。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 优矩控股有限公司 | | | | | | 呈交日期: | 2025年8月1日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 01948 | 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 | USD | 0.01 USD | | 100,000,000 | | 增加 / 減少 (-) | | | | | USD | | | | 本月 ...

Group 1 - The core viewpoint of the news highlights the significant stock performance of Youju Holdings, which has seen a year-to-date increase of 209.35%, outperforming the Hang Seng Index by 20.34% [1] - As of December 31, 2024, Youju Holdings reported total revenue of 9.153 billion yuan, a year-on-year growth of 29.36%, and a net profit attributable to shareholders of 93.873 million yuan, reflecting a growth of 3.66% [1] - The company's gross profit margin stands at 3.14%, with a debt-to-asset ratio of 68.31% [1] Group 2 - Youju Holdings is recognized as a leading provider of online short video marketing solutions in China, serving over a thousand large clients across the entire marketing chain [2] - The company has the capability to produce over 10,000 short videos monthly and operates short video shooting bases in major cities including Beijing, Shanghai, Guangzhou, and Chongqing [2] - Youju Holdings has developed its proprietary technology system, Youliang Engine, which empowers clients in both operational and creative aspects [2]