Group 1 - The company reported a revenue of RMB 130 million for the six months ending June 30, 2025, representing a year-on-year decrease of 16.23% [1] - Shareholders' profit attributable to the company was RMB 970,000, a significant decline of 89.17% compared to the previous year [1] - Earnings per share stood at 0.38 cents [1]

Core Viewpoint - The company reported a decline in revenue and profit for the six months ending June 30, 2025, indicating financial challenges ahead [1] Financial Performance - The group's revenue was RMB 130 million, representing a year-on-year decrease of 16.23% [1] - Shareholders' profit attributable to the company was RMB 970,000, down 89.17% compared to the previous year [1] - Earnings per share were 0.38 cents [1]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Overview of Interim Financial Performance](index=1&type=section&id=Overview%20of%20Interim%20Financial%20Performance) Xinken Intelligent Holdings Limited reported significant declines in revenue, profit, gross margin, and earnings per share for the six months ended June 30, 2025 Financial Highlights for the Six Months Ended June 30 | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 129,832 | 154,984 | -16.2 | | Gross Profit | 17,682 | 31,828 | -44.4 | | Gross Margin (%) | 13.6 | 20.5 | -6.9pp | | Profit for the Period | 2,249 | 12,974 | -82.7 | | Profit Attributable to Owners of the Company | 970 | 8,955 | -89.2 | | Earnings Per Share Attributable to Owners of the Company (RMB cents) | 0.38 | 3.58 | -89.4 | [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) Revenue decreased by **16.2%** to **RMB 129.8 million**, with gross profit falling **44.4%** and profit for the period sharply declining to **RMB 2.2 million**, driven by lower revenue and gross margin Key Data from Condensed Consolidated Statement of Profit or Loss | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 129,832 | 154,984 | -16.2 | | Cost of Sales | (112,150) | (123,156) | -8.9 | | Gross Profit | 17,682 | 31,828 | -44.4 | | Other Income | 3,136 | 3,450 | -9.0 | | Net Other Losses | (1,091) | (1,028) | +6.1 | | Selling and Distribution Expenses | (1,014) | (1,585) | -36.0 | | Administrative and Other Operating Expenses | (15,071) | (17,713) | -14.9 | | Net Impairment Loss on Financial Assets and Contract Assets | (553) | – | N/A | | Finance Costs | (142) | (536) | -73.5 | | Profit Before Tax | 2,947 | 14,416 | -79.5 | | Income Tax Expense | (698) | (1,442) | -51.6 | | Profit for the Period | 2,249 | 12,974 | -82.7 | | Profit Attributable to Owners of the Company | 970 | 8,955 | -89.2 | | Profit Attributable to Non-controlling Interests | 1,279 | 4,019 | -68.1 | [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) Total comprehensive income for the period significantly decreased to **RMB 4.4 million**, primarily due to reduced profit and the impact of exchange differences and fair value changes of financial assets Key Data from Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Profit for the Period | 2,249 | 12,974 | -82.7 | | Exchange differences arising from translation of the Company's financial statements to presentation currency | (695) | 1,492 | -146.6 | | Fair value changes of financial assets measured at fair value through other comprehensive income | 2,968 | (674) | N/A | | Exchange differences on translation of overseas operations | (112) | 1,517 | -107.4 | | Total other comprehensive income for the period | 2,161 | 2,335 | -7.4 | | Total comprehensive income for the period | 4,410 | 15,309 | -71.2 | | Total comprehensive income attributable to owners of the Company | 3,131 | 11,290 | -72.3 | | Total comprehensive income attributable to non-controlling interests | 1,279 | 4,019 | -68.1 | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Net assets increased to **RMB 293.5 million**, driven by a rise in net current assets to **RMB 206.4 million** and an improved current ratio of **5.9**, indicating enhanced liquidity Key Data from Condensed Consolidated Statement of Financial Position | Metric | 2025/06/30 (RMB thousands) | 2024/12/31 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Non-current Assets** | | | | | Property, Plant and Equipment | 88,341 | 102,723 | -14.0 | | Intangible Assets | 584 | 889 | -34.3 | | Prepayments, Deposits and Other Receivables | 3,631 | – | N/A | | Deferred Tax Assets | 1,364 | 1,295 | +5.3 | | Financial assets measured at fair value through other comprehensive income | 2,556 | 10,245 | -75.0 | | **Total Non-current Assets** | **96,476** | **115,152** | **-16.3** | | **Current Assets** | | | | | Inventories | 10,686 | 14,416 | -25.9 | | Trade and Bills Receivables and Contract Assets | 102,199 | 104,018 | -1.7 | | Prepayments, Deposits and Other Receivables | 7,622 | 8,900 | -14.3 | | Financial assets measured at amortised cost | 12,130 | 12,317 | -1.5 | | Financial assets measured at fair value through profit or loss | – | 13,423 | -100.0 | | Cash and Cash Equivalents | 115,676 | 73,719 | +56.9 | | **Total Current Assets** | **248,313** | **227,094** | **+9.3** | | **Current Liabilities** | | | | | Trade Payables | 14,101 | 15,106 | -6.7 | | Contract Liabilities | 3,378 | 2,693 | +25.4 | | Other Payables and Accruals | 14,672 | 23,930 | -38.7 | | Bank Borrowings | 3,000 | 3,250 | -7.7 | | Lease Liabilities | 1,965 | 3,404 | -42.3 | | Income Tax Payable | 227 | – | N/A | | Deferred Government Grants | 4,524 | 4,798 | -5.8 | | **Total Current Liabilities** | **41,867** | **53,181** | **-21.3** | | **Net Current Assets** | **206,446** | **173,913** | **+18.7** | | **Non-current Liabilities** | | | | | Lease Liabilities | 2,656 | 3,272 | -18.8 | | Deferred Government Grants | 6,601 | 8,767 | -24.7 | | Deferred Tax Liabilities | 209 | 128 | +63.3 | | **Total Non-current Liabilities** | **9,466** | **12,167** | **-22.2** | | **Net Assets** | **293,456** | **276,898** | **+6.0** | | **Total Equity** | **293,456** | **276,898** | **+6.0** | [Notes to the Condensed Consolidated Interim Financial Information](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Information) [1. General Information](index=6&type=section&id=1.%20General%20Information) Xinken Intelligent Holdings Limited, incorporated in the Cayman Islands and listed on the HKEX, primarily provides electronic manufacturing services and sells PCBA and electronic components - The Company was incorporated in the Cayman Islands on December 7, 2018, and listed on the Main Board of the Hong Kong Stock Exchange on October 18, 2019[10](index=10&type=chunk) - Its principal activities are the provision of electronic manufacturing services and the sale of printed circuit board assemblies (PCBA) and electronic components[11](index=11&type=chunk) - The Company's registered office and principal place of business have changed, with the Group's head office located in Shenzhen, China[10](index=10&type=chunk) [2. Basis of Preparation](index=6&type=section&id=2.%20Basis%20of%20Preparation) Interim financial information is prepared under HKAS 34 and Listing Rules, reviewed by the audit committee and external auditor - The interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" and the Listing Rules of the Stock Exchange[12](index=12&type=chunk) - The interim financial information is unaudited but has been reviewed by the Audit Committee and the external auditor[12](index=12&type=chunk) - Except for financial assets measured at fair value, the interim financial information is prepared on a historical cost basis and presented in RMB[14](index=14&type=chunk) [3. Summary of Significant Accounting Policies](index=7&type=section&id=3.%20Summary%20of%20Significant%20Accounting%20Policies) Accounting policies align with the 2024 annual report, with new HKFRS adoptions like HKAS 21 and HKFRS 1 (Amendments) having no significant financial impact - Accounting policies are consistent with the 2024 annual report, but new/revised HKFRSs have been adopted for the first time[15](index=15&type=chunk) - Adoptions include HKAS 21 and HKFRS 1 (Amendments) "Lack of Exchangeability"[16](index=16&type=chunk) - The newly adopted standards have no significant impact on the Group's financial position and performance[16](index=16&type=chunk) [4. Revenue and Segment Information](index=8&type=section&id=4.%20Revenue%20and%20Segment%20Information) The Group operates a single reportable segment, electronic manufacturing services and PCBA sales, with revenue of **RMB 129.8 million** solely from China, indicating market concentration - The Group has only one reportable operating segment: the provision of electronic manufacturing services and the sale of PCBA and electronic components[19](index=19&type=chunk) Revenue by Geographical Location | Region | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | China | 129,832 | 154,875 | -16.2 | | United States | – | 109 | -100.0 | | **Total** | **129,832** | **154,984** | **-16.2** | Revenue by Revenue Recognition Method from Customer Contracts | Recognition Method | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Provision of electronic manufacturing services (recognised over time) | 72,510 | 154,984 | | Sale of PCBA and electronic components (recognised at a point in time) | 57,322 | – | | **Total** | **129,832** | **154,984** | [5. Other Income](index=9&type=section&id=5.%20Other%20Income) Other income slightly decreased to **RMB 3.1 million**, primarily comprising government grants for asset purchases and high-tech VAT deductions, and bank interest income Composition of Other Income | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Bank interest income | 255 | 201 | +26.9 | | Government grants | 2,862 | 3,108 | -7.9 | | Others | 19 | 141 | -86.5 | | **Total** | **3,136** | **3,450** | **-9.0** | - Government grants primarily include subsidies for the purchase of qualifying property, plant and equipment, and additional VAT deductions for high-tech enterprises[24](index=24&type=chunk) [6. Net Other Losses](index=9&type=section&id=6.%20Net%20Other%20Losses) Net other losses increased to **RMB 1.1 million**, mainly from disposal losses of property, plant and equipment and exchange losses, partially offset by interest income and fair value changes Composition of Net Other Losses | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Interest income from unlisted corporate bonds | 510 | 607 | | Interest income from amount due from an independent third party | 228 | 226 | | Dividend income from equity investments measured at fair value through other comprehensive income | 44 | – | | Fair value changes of financial assets measured at fair value through profit or loss | 228 | – | | Loss on disposal of property, plant and equipment, net | (1,921) | (584) | | Write-off of property, plant and equipment | (23) | – | | Net exchange losses | (125) | (1,275) | | Others | (32) | (2) | | **Total** | **(1,091)** | **(1,028)** | [7. Profit Before Tax](index=10&type=section&id=7.%20Profit%20Before%20Tax) Profit before tax significantly decreased to **RMB 2.9 million**, primarily due to changes in finance costs, staff costs, depreciation, and raw material costs Key Deductions from Profit Before Tax | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Finance costs | 142 | 536 | -73.5 | | Staff costs (including directors' emoluments) | 23,621 | 32,284 | -26.8 | | Human resources service expenses | 2,958 | 5,010 | -41.0 | | Cost of raw materials and consumables used | 62,968 | 56,007 | +12.4 | | Subcontracting fees | 10,390 | 10,459 | -0.7 | | Expenses recognised under short-term leases | 7,114 | 5,976 | +19.0 | | Utilities expenses | 507 | 3,628 | -86.0 | | Depreciation | 12,697 | 20,871 | -39.2 | | Amortisation | 305 | 246 | +24.0 | | Auditor's remuneration | 249 | 409 | -39.1 | | Professional fees | 2,903 | 3,315 | -12.5 | | Net provision for write-down of inventories | 1,303 | 99 | +1216.2 | | Impairment loss on financial assets and contract assets | 553 | – | N/A | - Staff costs (including directors' emoluments) decreased from **RMB 32.3 million** to **RMB 23.6 million**, primarily due to reductions in salaries, discretionary bonuses, allowances, and others[26](index=26&type=chunk) - Depreciation expenses decreased from **RMB 20.9 million** to **RMB 12.7 million**, while amortisation expenses increased from **RMB 0.2 million** to **RMB 0.3 million**[26](index=26&type=chunk)[28](index=28&type=chunk) [8. Income Tax Expense](index=12&type=section&id=8.%20Income%20Tax%20Expense) Income tax expense significantly decreased to **RMB 0.7 million** due to lower profit, with Chinese high-tech entities benefiting from a **15%** preferential tax rate Composition of Income Tax Expense | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Current income tax - PRC Enterprise Income Tax | 686 | 1,557 | | Deferred tax - movement in temporary differences | 12 | (115) | | **Total income tax expense** | **698** | **1,442** | - The decrease in income tax expense was mainly due to the reduction in the Group's profit[64](index=64&type=chunk) - Shenzhen Xinken Intelligent and Chongqing Xinken Technology, as high-tech enterprises, enjoy a preferential tax rate of **15%**[32](index=32&type=chunk) [9. Earnings Per Share Attributable to Owners of the Company](index=13&type=section&id=9.%20Earnings%20Per%20Share%20Attributable%20to%20Owners%20of%20the%20Company) Basic and diluted earnings per share attributable to owners of the Company significantly decreased to **RMB 0.38 cents**, driven by a sharp decline in profit attributable to owners Earnings Per Share Calculation Data | Metric | 2025 (RMB thousands/thousand shares/RMB cents) | 2024 (RMB thousands/thousand shares/RMB cents) | | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company for the purpose of calculating basic and diluted earnings per share | 970 | 8,955 | | Weighted average number of ordinary shares for the purpose of calculating basic and diluted earnings per share (thousand shares) | 252,210 | 250,000 | | Basic and diluted earnings per share (RMB cents) | 0.38 | 3.58 | - As there were no potential dilutive ordinary shares in both the current and prior periods, diluted earnings per share are the same as basic earnings per share[35](index=35&type=chunk) [10. Dividends](index=13&type=section&id=10.%20Dividends) The Board does not recommend any dividend payments for the six months ended June 30, 2025 and 2024 - The Board does not recommend the payment of any dividends for the six months ended June 30, 2025 and 2024[36](index=36&type=chunk) [11. Trade and Bills Receivables and Contract Assets](index=14&type=section&id=11.%20Trade%20and%20Bills%20Receivables%20and%20Contract%20Assets) Net trade and bills receivables and contract assets slightly decreased to **RMB 102.2 million**, with contract assets representing unbilled services and trade receivables having a 30-120 day credit period Net Trade and Bills Receivables and Contract Assets | Item | 2025/06/30 (RMB thousands) | 2024/12/31 (RMB thousands) | | :--- | :--- | :--- | | Net contract assets | 13,524 | 19,364 | | Net trade receivables | 57,009 | 61,054 | | Bills receivables | 31,666 | 23,600 | | **Total** | **102,199** | **104,018** | - Contract assets refer to completed but unbilled electronic manufacturing services, which typically take one to four months to be reclassified to trade receivables[37](index=37&type=chunk) Ageing Analysis of Trade Receivables (Net of Loss Allowance) | Ageing | 2025/06/30 (RMB thousands) | 2024/12/31 (RMB thousands) | | :--- | :--- | :--- | | Less than 1 month | 37,756 | 33,459 | | 1 to 2 months | 16,280 | 22,580 | | 2 to 3 months | 2,133 | 3,780 | | 3 to 4 months | 185 | 663 | | Over 4 months | 655 | 572 | | **Total** | **57,009** | **61,054** | [12. Prepayments, Deposits and Other Receivables](index=15&type=section&id=12.%20Prepayments,%20Deposits%20and%20Other%20Receivables) Net current prepayments, deposits, and other receivables totaled **RMB 7.6 million**, with a **RMB 4.6 million** independent third-party receivable at **10%** interest, and a fully impaired receivable from Wan Hai Jin Yuan Composition of Prepayments, Deposits and Other Receivables | Item | 2025/06/30 (RMB thousands) | 2024/12/31 (RMB thousands) | | :--- | :--- | :--- | | **Current portion** | | | | Prepayments to suppliers | 873 | 1,544 | | Prepayments for consulting services | 365 | 926 | | Lease and other deposits | 676 | 1,413 | | Interest receivable from unlisted corporate bonds | 814 | 269 | | Interest receivable from amount due from an independent third party | 763 | 545 | | Other receivables | 148 | 150 | | Amount due from an independent third party | 4,560 | 4,630 | | Amount due from Wan Hai Jin Yuan Enterprise Management Co., Ltd. | 7,032 | 7,032 | | Less: Loss allowance | (7,609) | (7,609) | | **Net current portion** | **7,622** | **8,900** | | **Non-current portion** | | | | Prepayments for acquisition of property, plant and equipment | 3,631 | – | | **Total** | **11,253** | **8,900** | - The principal amount due from an independent third party is **HKD 5,000,000** (approximately **RMB 4.56 million**), unsecured, bearing interest at **10%** per annum, and repayable by October 27, 2025[40](index=40&type=chunk) - The amount due from Wan Hai Jin Yuan is unsecured, interest-free, and repayable on demand, with a full loss allowance of **RMB 7.03 million** provided[41](index=41&type=chunk) [13. Trade Payables](index=16&type=section&id=13.%20Trade%20Payables) Total trade payables decreased to **RMB 14.1 million**, unsecured and non-interest bearing, with normal credit terms of 30 to 90 days - Trade payables are unsecured, non-interest bearing, with normal credit terms ranging from 30 to 90 days[43](index=43&type=chunk) Ageing Analysis of Trade Payables | Ageing | 2025/06/30 (RMB thousands) | 2024/12/31 (RMB thousands) | | :--- | :--- | :--- | | Within 1 month | 8,897 | 11,046 | | 1 to 2 months | 4,226 | 2,823 | | 2 to 3 months | 938 | 1,077 | | Over 3 months | 40 | 160 | | **Total** | **14,101** | **15,106** | [14. Contract Liabilities, Other Payables and Accruals](index=16&type=section&id=14.%20Contract%20Liabilities,%20Other%20Payables%20and%20Accruals) Total contract liabilities, other payables, and accruals significantly decreased to **RMB 18.1 million**, mainly due to a substantial reduction in staff salaries and human resources service expenses Composition of Contract Liabilities, Other Payables and Accruals | Item | 2025/06/30 (RMB thousands) | 2024/12/31 (RMB thousands) | | :--- | :--- | :--- | | Contract liabilities | 3,378 | 2,693 | | Payables related to operating expenses | 2,090 | 3,433 | | Staff salaries and human resources service expenses payable | 5,971 | 12,621 | | Value-added tax and other taxes payable | 5,323 | 5,497 | | Other payables | 284 | 1,066 | | Accruals | 1,004 | 1,313 | | **Total** | **18,050** | **26,623** | - Staff salaries and human resources service expenses payable significantly decreased from **RMB 12.6 million** to **RMB 6.0 million**[44](index=44&type=chunk) [Business Review and Prospects](index=17&type=section&id=Business%20Review%20and%20Prospects) [Business Review](index=17&type=section&id=Business%20Review) As an EMS provider, the Group faced significant revenue decline of **16.2%** to **RMB 129.8 million** and net profit reduction to **RMB 2.2 million** due to China's economic challenges and customer contract terminations - The Group is an Electronic Manufacturing Services (EMS) provider, offering a full range of PCBA assembly and production services, including R&D, procurement, assembly, quality control, testing, logistics, and after-sales services[45](index=45&type=chunk) - During the interim period, the Chinese economy faced significant challenges, including US tariff policies, US-China trade negotiation uncertainties, real estate adjustments, and insufficient domestic demand, leading to intensified corporate competition[46](index=46&type=chunk) - Due to the termination of cooperation with certain customers, revenue decreased by **16.2%** year-on-year to **RMB 129.8 million**, and net profit fell from **RMB 13.0 million** to **RMB 2.2 million**[46](index=46&type=chunk) [Prospects](index=17&type=section&id=Prospects) The Group will adopt a cautious approach to expenditure and expansion, diversify customers and products, explore new revenue streams, and invest in internal capabilities for long-term sustainable development amidst economic challenges - The Group will maintain a cautious approach to expenditure and expansion to mitigate financial risks[47](index=47&type=chunk) - Actively diversify or expand customers and products, explore new revenue streams, and mitigate business risks[47](index=47&type=chunk) - Continuously invest in developing internal capabilities, keep abreast of the latest technological developments in the industry, seek more business opportunities, and explore other business segments and new opportunities[47](index=47&type=chunk) [Management Discussion and Analysis](index=18&type=section&id=Management%20Discussion%20and%20Analysis) [Financial Review](index=18&type=section&id=Financial%20Review) This section reviews the company's interim financial performance, highlighting significant declines in overall revenue and profit due to market downturns and customer terminations, despite growth in automotive-related device revenue [Revenue by Customer Geographical Location](index=18&type=section&id=Revenue%20by%20Customer%20Geographical%20Location) Revenue is highly concentrated in China, totaling **RMB 129.8 million**, with no revenue from the United States during the interim period Revenue by Customer Geographical Location | Region | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | China | 129,832 | 154,875 | -16.2 | | United States | – | 109 | -100.0 | | **Total** | **129,832** | **154,984** | **-16.2** | [Revenue by Product Category](index=18&type=section&id=Revenue%20by%20Product%20Category) Telecommunication and IoT product revenues significantly declined by **26.3%** and **74.6%** respectively, while automotive-related device revenue grew **16.7%** and other revenue surged **668.1%** Revenue and Proportion by Product Category | Product Category | 2025 Revenue (RMB thousands) | 2024 Revenue (RMB thousands) | Change (%) | 2025 Proportion (%) | 2024 Proportion (%) | Change in Proportion (pp) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Telecommunication devices | 63,644 | 86,305 | (26.3) | 49.0 | 55.7 | (6.7) | | IoT products | 8,302 | 32,723 | (74.6) | 6.4 | 21.1 | (14.7) | | Automotive-related devices | 39,114 | 33,512 | 16.7 | 30.1 | 21.6 | 8.5 | | Others | 18,772 | 2,444 | 668.1 | 14.5 | 1.6 | 12.9 | | **Total** | **129,832** | **154,984** | **(16.2)** | **100.0** | **100.0** | – | - Revenue from telecommunication devices decreased by **26.3%**, primarily due to the termination of cooperation with certain customers over favorable pricing agreements[50](index=50&type=chunk) - Revenue from IoT products decreased by **74.6%**, mainly due to a sluggish consumer market and failure to reach favorable pricing agreements with customers[50](index=50&type=chunk) - Revenue from automotive-related devices increased by **16.7%**, primarily due to winning more customer orders through technology and quality[50](index=50&type=chunk) - Other revenue significantly increased by **668.1%**, mainly due to increased sales of IC materials during the interim period[51](index=51&type=chunk) [Revenue from Contracts with Customers within the Scope of HKFRS 15](index=19&type=section&id=Revenue%20from%20Contracts%20with%20Customers%20within%20the%20Scope%20of%20HKFRS%2015) Revenue recognition methods changed under HKFRS 15, with 2025 seeing a shift to point-in-time recognition for PCBA sales, reflecting revised customer contract terms to manage inventory and cash flow Revenue by HKFRS 15 Classification | Revenue Category | Recognition Basis | 2025 (RMB thousands) | 2025 Proportion (%) | 2024 (RMB thousands) | 2024 Proportion (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Provision of electronic manufacturing services | Recognised over time | 72,510 | 55.8 | 154,984 | 100.0 | | Sale of PCBA and electronic components | Recognised at a point in time | 57,322 | 44.2 | – | – | | **Total** | | **129,832** | **100.0** | **154,984** | **100.0** | - In 2024, some customers negotiated changes to contract terms to reduce inventory and alleviate cash flow pressure, leading to a change in revenue recognition methods[53](index=53&type=chunk) - Under the revised business terms, revenue from these customers is recognized upon delivery (i.e., when the customer obtains and receives the goods)[53](index=53&type=chunk) [Gross Profit and Gross Margin](index=20&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit significantly decreased by **44.4%** to **RMB 17.7 million**, with overall gross margin falling to **13.6%**, primarily due to reduced revenue and unavoidable fixed costs impacting all product categories - Gross profit decreased by **44.4%** to **RMB 17.7 million**, with the overall gross margin falling from **20.5%** to **13.6%**[55](index=55&type=chunk) Gross Profit and Gross Margin by Product Category | Product Category | 2025 Gross Profit (RMB thousands) | 2024 Gross Profit (RMB thousands) | Change (%) | 2025 Gross Margin (%) | 2024 Gross Margin (%) | Change (pp) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Telecommunication devices | 10,276 | 19,692 | (47.8) | 16.1 | 22.8 | (6.7) | | IoT products | 547 | 5,264 | (89.6) | 6.6 | 16.1 | (9.5) | | Automotive-related devices | 5,741 | 6,590 | (12.9) | 14.7 | 19.7 | (5.0) | | Others | 1,118 | 282 | 296.5 | 6.0 | 11.5 | (5.5) | | **Total** | **17,682** | **31,828** | **(44.4)** | **13.6** | **20.5** | **(6.9)** | - Gross profit from IoT product PCBA decreased by **89.6%**, with gross margin falling to **6.6%**, mainly due to reduced revenue and unavoidable fixed costs[58](index=58&type=chunk) [Other Income](index=21&type=section&id=Other%20Income) Other income for the interim period was **RMB 3.1 million**, slightly lower than last year, primarily from government grants and bank interest - Other income for the interim period was approximately **RMB 3.1 million**, mainly comprising government grants and bank interest income[59](index=59&type=chunk) [Net Other Losses](index=21&type=section&id=Net%20Other%20Losses) Net other losses were **RMB 1.1 million**, primarily from asset disposal losses and exchange differences, partially offset by unlisted corporate bond interest income - Net other losses for the interim period were approximately **RMB 1.1 million**, mainly including interest income from unlisted corporate bonds and loans, exchange differences, and losses on disposal of property, plant and equipment[60](index=60&type=chunk) [Selling and Distribution Expenses](index=21&type=section&id=Selling%20and%20Distribution%20Expenses) Selling and distribution expenses decreased to **RMB 1.0 million**, representing **0.8%** of revenue, primarily due to reduced overall revenue - Selling and distribution expenses were approximately **RMB 1.0 million**, a year-on-year decrease of **36.0%**[5](index=5&type=chunk)[61](index=61&type=chunk) - The proportion of selling and distribution expenses to revenue decreased from **1%** in the same period of 2024 to **0.8%** in the interim period, mainly due to the Group's reduced revenue[61](index=61&type=chunk) [Administrative Expenses](index=21&type=section&id=Administrative%20Expenses) Administrative expenses decreased to **RMB 15.1 million**, primarily due to a reduction in staff costs - Administrative expenses were approximately **RMB 15.1 million**, a year-on-year decrease of **14.9%**[5](index=5&type=chunk)[62](index=62&type=chunk) - The decrease in administrative expenses was mainly attributable to reduced staff costs[62](index=62&type=chunk) [Finance Costs](index=22&type=section&id=Finance%20Costs) Finance costs significantly decreased to **RMB 0.1 million**, consistent with reduced loan balances and lease liabilities - Finance costs were approximately **RMB 0.1 million**, a year-on-year decrease of **73.5%**[5](index=5&type=chunk)[63](index=63&type=chunk) - The decrease in finance costs is consistent with the reduction in loan balances and lease liabilities[63](index=63&type=chunk) [Income Tax Expense](index=22&type=section&id=Income%20Tax%20Expense) Income tax expense decreased to **RMB 0.7 million**, primarily due to a reduction in the Group's profit - Income tax expense was approximately **RMB 0.7 million**, a year-on-year decrease of **51.6%**[5](index=5&type=chunk)[64](index=64&type=chunk) - The decrease in income tax expense was mainly due to the reduction in the Group's profit[64](index=64&type=chunk) [Profit for the Period](index=22&type=section&id=Profit%20for%20the%20Period) Net profit for the interim period significantly decreased to **RMB 2.2 million**, primarily influenced by various financial factors - Net profit for the interim period was approximately **RMB 2.2 million**, a year-on-year decrease of **82.7%**[5](index=5&type=chunk)[65](index=65&type=chunk) [Profit Attributable to Non-controlling Interests](index=22&type=section&id=Profit%20Attributable%20to%20Non-controlling%20Interests) Profit attributable to non-controlling interests decreased to **RMB 1.3 million**, primarily from the Chongqing factory's profit - Profit attributable to non-controlling interests was approximately **RMB 1.3 million**, a year-on-year decrease of **68.1%**[5](index=5&type=chunk)[66](index=66&type=chunk) - The profit for the interim period primarily originated from the Chongqing factory's profit[66](index=66&type=chunk) [Liquidity and Capital Resources](index=22&type=section&id=Liquidity%20and%20Capital%20Resources) This section analyzes improved liquidity, a low gearing ratio, changes in capital structure due to new share placement, insignificant foreign exchange risk, and capital expenditure for Shenzhen factory equipment, with no interim dividend recommended [Net Current Assets](index=22&type=section&id=Net%20Current%20Assets) Net current assets increased to **RMB 206.4 million**, and the current ratio improved to **5.9**, primarily due to proceeds from the share placement - Net current assets were approximately **RMB 206.4 million**, an increase of **18.7%** from December 31, 2024[8](index=8&type=chunk)[67](index=67&type=chunk) - The current ratio increased from approximately **4.3** as of December 31, 2024, to **5.9** as of June 30, 2025, mainly due to proceeds from the placement[67](index=67&type=chunk) [Borrowings and Charges on Assets](index=22&type=section&id=Borrowings%20and%20Charges%20on%20Assets) Bank borrowings slightly decreased to **RMB 3.0 million**, secured by property, plant and equipment with a carrying amount of **RMB 8.1 million** - Bank borrowings were approximately **RMB 3.0 million**, a decrease of **7.7%** from December 31, 2024[8](index=8&type=chunk)[68](index=68&type=chunk) - The borrowings are secured by property, plant and equipment with a carrying amount of approximately **RMB 8.1 million**[68](index=68&type=chunk) [Gearing Ratio](index=23&type=section&id=Gearing%20Ratio) The gearing ratio decreased to **2.6%**, maintaining a low level due to reduced borrowings and lease liabilities - The gearing ratio decreased from approximately **3.6%** as of December 31, 2024, to approximately **2.6%** as of June 30, 2025[69](index=69&type=chunk) - The gearing ratio remained at a low level due to low bank and other borrowings and lease liabilities[69](index=69&type=chunk) [Capital Structure](index=23&type=section&id=Capital%20Structure) The Group's capital structure remained unchanged except for a share placement, resulting in **300,000,000** issued ordinary shares of **HKD 0.01** each as of June 30, 2025 - Except for the placement of new shares, there were no changes to the Group's capital structure during the interim period[70](index=70&type=chunk) - Following the completion of the placement, as of June 30, 2025, the number of issued shares of the Company was **300,000,000** ordinary shares of **HKD 0.01** each[70](index=70&type=chunk) [Foreign Exchange Risk and Currency Risk](index=23&type=section&id=Foreign%20Exchange%20Risk%20and%20Currency%20Risk) The Group's assets, liabilities, and transactions are primarily denominated in RMB and HKD, with no significant foreign exchange risk identified by management - The Group's assets, liabilities, and transactions are primarily denominated in RMB and HKD[71](index=71&type=chunk) - Management believes there was no significant foreign exchange risk as of June 30, 2025[71](index=71&type=chunk) [Capital Expenditure](index=23&type=section&id=Capital%20Expenditure) Capital expenditure significantly decreased to **RMB 4.4 million**, primarily for equipment additions at the Shenzhen factory - Capital expenditure for the interim period was approximately **RMB 4.4 million**, a year-on-year decrease of **65.9%**[72](index=72&type=chunk) - Capital expenditure was primarily related to equipment additions at the Shenzhen factory[72](index=72&type=chunk) [Interim Dividends](index=23&type=section&id=Interim%20Dividends) The Board does not recommend an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[73](index=73&type=chunk) [Employees, Remuneration Policy and Training](index=23&type=section&id=Employees,%20Remuneration%20Policy%20and%20Training) The Group had **367** employees with total remuneration of **RMB 23.6 million**, a decrease from last year, with remuneration based on performance and regular training provided - As of June 30, 2025, the Group had **367** employees, with total remuneration of approximately **RMB 23.6 million**, a year-on-year decrease of **26.9%**[75](index=75&type=chunk) - The remuneration package includes basic salaries, allowances, bonuses, and contributions to mandatory provident funds or state-managed retirement benefit schemes[74](index=74&type=chunk) - The Group regularly provides comprehensive training and development opportunities for its employees[74](index=74&type=chunk) [Pension Schemes](index=24&type=section&id=Pension%20Schemes) Chinese subsidiary employees participate in state-operated defined contribution pension schemes, with Group contributions based on basic salary costs and immediately vested - Employees of the Group's subsidiaries established in China are required to participate in state-operated retirement benefit schemes (defined contribution plans) run by the Chinese government[76](index=76&type=chunk) - The Group makes contributions to the defined contribution plans as a certain percentage of basic salary costs, and these contributions are fully and immediately vested in the employees[76](index=76&type=chunk) [Capital Commitments](index=24&type=section&id=Capital%20Commitments) Capital commitments increased to **RMB 1.0 million**, primarily for acquiring machinery and equipment to enhance production efficiency - Capital commitments were approximately **RMB 1.0 million**, an increase of **150%** from December 31, 2024[77](index=77&type=chunk) - Capital commitments primarily relate to the acquisition of machinery and equipment to enhance production efficiency[77](index=77&type=chunk) [Significant Acquisitions, Disposals of Subsidiaries, Associates and Joint Ventures and Material Investments](index=24&type=section&id=Significant%20Acquisitions,%20Disposals%20of%20Subsidiaries,%20Associates%20and%20Joint%20Ventures%20and%20Material%20Investments) The Group made no significant acquisitions, disposals of subsidiaries, associates, joint ventures, or material investments during the interim period, other than those disclosed - During the interim period, the Group did not undertake any significant acquisitions, disposals of subsidiaries, associates and joint ventures, or material investments[78](index=78&type=chunk) [Contingent Liabilities](index=24&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no contingent liabilities - As of June 30, 2025, the Group had no contingent liabilities[79](index=79&type=chunk) [Use of Proceeds from Placing of New Shares under General Mandate](index=25&type=section&id=Use%20of%20Proceeds%20from%20Placing%20of%20New%20Shares%20under%20General%20Mandate) The Company completed a **HKD 13.1 million** share placement in June 2025, with proceeds allocated to new machinery, bank loan repayment, and general working capital, expected to be fully utilized by year-end - On June 13, 2025, the Company entered into a placing agreement with the placing agent to place up to **50,000,000** new shares at a placing price of **HKD 0.27** per share[80](index=80&type=chunk) - The placing was completed on June 23, 2025, with net proceeds of approximately **HKD 13.1 million**[80](index=80&type=chunk) Use of Proceeds from Placing | Intended Use | Net Proceeds (HKD millions) | Utilized (HKD millions) | Unutilized (HKD millions) | Expected Timeline for Full Utilization | | :--- | :--- | :--- | :--- | :--- | | Acquisition of new machinery for PCBA assembly and production at Shenzhen production plant | 4.4 | 4.4 | – | – | | Repayment of bank borrowings | 3.3 | – | 3.3 | By end of 2025 | | General working capital | 5.4 | – | 5.4 | By end of 2025 | | **Total** | **13.1** | **4.4** | **8.7** | | [Events After Reporting Period](index=26&type=section&id=Events%20After%20Reporting%20Period) The Board announced on August 1 that shareholding concentration no longer exists as of June 30, 2025, with no other significant events reported post-period - The Board announced on August 1 that, following analysis by an independent service provider, as of June 30, 2025, the Company's shareholding was not concentrated in the hands of a few shareholders[82](index=82&type=chunk) - The shareholding concentration situation described in the announcement dated March 18, 2020, no longer existed as of June 30, 2025[82](index=82&type=chunk) [Corporate Governance Practices](index=26&type=section&id=Corporate%20Governance%20Practices) The Company adheres to the Corporate Governance Code, though the Chairman and CEO roles are combined, with the Board ensuring sufficient safeguards for power balance - The Company has adopted and complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules[83](index=83&type=chunk) - Mr. Li Hao holds both the positions of Chairman of the Board and Chief Executive Officer, which deviates from Code Provision C.2.1 of the Corporate Governance Code[83](index=83&type=chunk) - The Board believes that, considering the nature of the business, Mr. Li Hao's experience, and the presence of independent non-executive directors, sufficient safeguards are in place to ensure a balance of power[83](index=83&type=chunk) [Share Option Scheme](index=27&type=section&id=Share%20Option%20Scheme) The Share Option Scheme, adopted in 2019 to incentivize contributors, has a ten-year validity with **5 years** remaining, and no options were granted during the interim period - The Share Option Scheme was conditionally adopted on September 20, 2019, to recognize and incentivize eligible participants who contribute to the Group[84](index=84&type=chunk) - Under the terms of the scheme, the maximum number of shares that may be granted shall not exceed **10%** of the issued shares on the Listing Date (i.e., **25,000,000** shares)[85](index=85&type=chunk) - The Share Option Scheme has a validity period of ten years, with approximately **5 years** remaining. No share options were granted during the interim period[86](index=86&type=chunk)[87](index=87&type=chunk) [Connected Transactions](index=27&type=section&id=Connected%20Transactions) The Company did not engage in any connected or continuing connected transactions requiring reporting, announcement, or independent shareholder approval under Listing Rule Chapter 14A - During the interim period, the Company did not enter into any connected transactions or continuing connected transactions subject to reporting, announcement, or independent shareholders' approval requirements under the Listing Rules[88](index=88&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=27&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any listed securities, and no treasury shares were held as of June 30, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the interim period[89](index=89&type=chunk) - As of June 30, 2025, the Company held no treasury shares[90](index=90&type=chunk) [Issue of Equity Securities](index=28&type=section&id=Issue%20of%20Equity%20Securities) The Company completed a placing in June 2025, issuing **50,000,000** new shares at **HKD 0.27** each, representing approximately **20.00%** of its issued share capital - On June 13, 2025, the Company entered into a placing agreement with the placing agent to place up to **50,000,000** new shares at a placing price of **HKD 0.27** per share[91](index=91&type=chunk) - The placing was completed on June 23, 2025, and **50,000,000** new shares were issued at the placing price[91](index=91&type=chunk) - The maximum number of placing shares represented approximately **20.00%** of the Company's entire issued share capital as of June 13, 2025[91](index=91&type=chunk) [Auditor](index=28&type=section&id=Auditor) PKF Hong Kong Limited, the Company's auditor, reviewed the Group's unaudited condensed consolidated interim financial information under HKSRE 2410 - The Company's auditor, PKF Hong Kong Limited, has reviewed the Group's interim financial information[92](index=92&type=chunk) - The review was conducted in accordance with Hong Kong Standard on Review Engagements 2410 issued by the Hong Kong Institute of Certified Public Accountants[92](index=92&type=chunk) [Audit Committee](index=28&type=section&id=Audit%20Committee) The Audit Committee, established in 2019 with three independent non-executive directors, oversees financial reporting and internal controls, and has reviewed the Group's interim results - The Audit Committee was established on September 20, 2019, with terms of reference in compliance with the Corporate Governance Code set out in Appendix C1 of the Listing Rules[93](index=93&type=chunk) - The Audit Committee comprises three independent non-executive directors: Mr. Zhou Jieting (Chairman), Mr. Huang Jianfei, and Ms. Mu Lingxia[93](index=93&type=chunk) - The Audit Committee has reviewed the Group's interim results for the six months ended June 30, 2025[94](index=94&type=chunk) [Model Code for Securities Transactions by Directors of Listed Issuers](index=28&type=section&id=Model%20Code%20for%20Securities%20Transactions%20by%20Directors%20of%20Listed%20Issuers) The Company adopted the Model Code for directors' securities transactions, with all directors confirming compliance during the interim period - The Company has adopted the Model Code set out in Appendix C3 of the Listing Rules as the code of conduct for directors' securities transactions[95](index=95&type=chunk) - All directors confirmed compliance with the Model Code throughout the interim period up to the date of this announcement[95](index=95&type=chunk) [Sufficiency of Public Float](index=29&type=section&id=Sufficiency%20of%20Public%20Float) The Company maintained a sufficient public float of at least **25%** of total issued shares, as required by Listing Rules, throughout the interim period - The Company has maintained a sufficient public float as required by the Listing Rules, i.e., not less than **25%** of the total issued shares[96](index=96&type=chunk) [Publication of Interim Results and Interim Report](index=29&type=section&id=Publication%20of%20Interim%20Results%20and%20Interim%20Report) This interim results announcement will be published on the Stock Exchange and Company websites, with the interim report also distributed to shareholders and published online - This interim results announcement will be published on the Stock Exchange website (www.hkex.com.hk) and the Company's website (http://www.szxinken.com)[97](index=97&type=chunk) - The interim report will be sent to the Company's shareholders (upon request) in due course and published on the Stock Exchange and the Company's websites[97](index=97&type=chunk)

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 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。 董事會會議通告 主 席 李 浩 CONFIDENCE INTELLIGENCE HOLDINGS LIMITED 信懇智能控股有限公司 香 港，二 零 二 五 年 八 月 十 九 日 （於開曼群島註冊成立之有限公司） 於 本 公 告 日 期，執 行 董 事 為 李 浩 先 生、張 必 鍾 先 生、許 世 真 先 生、李 碧 琼 女 士 及 郝 相 君 先 生；而 獨 立 非 執 行 董 事 為 周 傑 霆 先 生、慕 凌 霞 女 士 及 黃 劍 非 先 生。 信 懇 智 能 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）宣 佈，董 事 會 會 議 將 於 二 零 二 五 年 八 月 二 十 九 日（星 期 五）舉 行，以（其 中 包 括）考 慮 及 批 准 本 公 司 及 ...

Core Viewpoint - The company, 信恳智能 (01967.HK), expects a significant decline in net profit for the six months ending June 30, 2025, projecting a profit of no more than approximately RMB 3 million, compared to a net profit of about RMB 13 million for the same period in 2024 [1] Financial Performance - The company's net profit is anticipated to decrease primarily due to a reduction in revenue and gross profit, which fell by approximately 16.2% and 44.4% respectively [1] - The decline in gross profit is attributed to the loss of several client partnerships, as the company was unable to negotiate favorable sales prices with these clients [1] - Fixed costs remained unavoidable, contributing to the decrease in gross profit alongside the reduction in revenue [1]

Core Viewpoint - The company expects a significant decline in net profit for the six months ending June 30, 2025, compared to the same period in 2024, primarily due to reduced revenue and gross profit resulting from the termination of contracts with several clients [1] Financial Performance - The company's net profit for the six months ending June 30, 2024, is approximately RMB 13 million [1] - The projected net profit for the six months ending June 30, 2025, is expected to be no more than approximately RMB 3 million [1] - Revenue and gross profit are expected to decrease by approximately 16.2% and 44.4%, respectively [1] Operational Challenges - The decline in revenue and gross profit is attributed to the termination of cooperation with several clients [1] - The inability to reach favorable sales prices with these clients has contributed to the revenue drop [1] - Fixed costs remain unavoidable, leading to a further reduction in gross profit alongside the decrease in revenue [1]

Core Viewpoint - The company expects a significant decline in net profit for the six months ending June 30, 2025, projecting a profit of no more than approximately RMB 3 million compared to RMB 13 million for the same period in 2024, indicating a challenging financial outlook ahead [1] Financial Performance - The company's net profit is anticipated to decrease by approximately 77.0% from RMB 13 million to RMB 3 million [1] - Revenue and gross profit are expected to decline by approximately 16.2% and 44.4%, respectively, highlighting a substantial drop in financial performance [1] Client Relationships - The reduction in profit is primarily attributed to the termination of cooperation with several clients, which was due to the company's inability to negotiate favorable sales prices [1] - The loss of these client relationships has directly impacted both revenue and gross profit margins [1] Cost Structure - Fixed costs have remained unavoidable, contributing to the decline in gross profit as revenues decrease [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 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。 – 1 – 股 東 及 潛 在 投 資 者 於 買 賣 本 公 司 股 份 時，務 須 審 慎 行 事。 承董事會命 CONFIDENCE INTELLIGENCE HOLDINGS LIMITED 信懇智能控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1967） 盈利警告 本 公 告 乃 信 懇 智 能 控 股 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（「上市規則」）第13.09條及證券及期貨 條 例（香 港 法 例 第571章）第XIVA部 項 下 內 幕 消 息 條 文（定 義 見 上 市 規 則）作 出。 本 公 司 董 事 會（「董事會」）謹 此 知 會 本 公 司 股 東（「股 東」）及 潛 在 投 資 者，根 據 ...

Core Viewpoint - The company believes that the concerns regarding the high concentration of shareholding mentioned in the CSRC announcement have been resolved, and the shareholding concentration from March 6, 2020, should not be used as a basis for assessing the current shareholding structure of the company [1] Summary by Relevant Categories - **Company's Position**: The company asserts that the issues related to high shareholding concentration have been addressed [1] - **Regulatory Context**: The announcement references the CSRC's previous concerns but indicates that these should not impact the current evaluation of the company's shareholding structure [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 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。 CONFIDENCE INTELLIGENCE HOLDINGS LIMITED 信懇智能控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1967） 自願公告 解決股權高度集中 此 乃 由 信 懇 智 能 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司，統 稱「本集團」）作 出 之 自 願 公 告，以 知 會 其 股 東（「股 東」）及 本 公 司 潛 在 投 資 者（「潛在投資者」）有 關 本 公 司 於 二 零 二 五 年 六 月 三 十 日 的 股 權 架 構。 本 公 告 乃 因 應 證 券 及 期 貨 事 務 監 察 委 員 會（「證監會」）就 本 公 司 於 二 零 二 零 年 三月六日當時股權高度集中而發出的日期為二零二零年三月十八日的股權集 中 公 告（「證監會公告」）而 作 出。 背 景 根 據 證 監 ...