Group 1 - The company reported a revenue of approximately HKD 2.948 billion for the first half of 2025, representing a year-on-year increase of 19.3% [1] - Gross profit increased by 4.9% to HKD 527 million [1] - Profit attributable to shareholders was approximately HKD 212 million, reflecting a year-on-year increase of 20.4% [1] Group 2 - Earnings per share were HKD 0.21 [1] - The interim dividend declared was HKD 0.062 [1]

Group 1 - The company Tianbao Group (01979) announced a mid-term dividend of HKD 0.062 per share for the six months ending June 30, 2025, to be distributed on October 27, 2025 [1]

Core Viewpoint - Tianbao Group (01979) reported a mid-year performance for 2025, showing a revenue of approximately HKD 2.948 billion, a year-on-year increase of 19.3% [1] Financial Performance - Revenue increased to approximately HKD 2.948 billion, up 19.3% year-on-year [1] - Gross profit rose by 4.9% to HKD 527 million [1] - Profit attributable to shareholders was about HKD 212 million, reflecting a year-on-year increase of 20.4% [1] - Earnings per share stood at HKD 0.21, with an interim dividend of HKD 0.062 [1] Business Segments - The growth in revenue was primarily driven by the industrial power supply and new energy sectors [1] - The company is a leader in smart power solutions, integrating AI application technology into production equipment [1] Strategic Initiatives - Development of core components for AI hardware, including smart controllers and charging solutions, aims to enhance the AI industry chain [1] - The company plans to strengthen production capacity layout and automation equipment across its factories [1] - Optimization of global supply chain management is intended to improve operational efficiency and respond agilely to market changes [1]

Core Insights - Tianbao Group (01979) reported a mid-year performance for 2025 with revenue of approximately HKD 2.948 billion, representing a year-on-year increase of 19.3% [1] - Gross profit increased by 4.9% to HKD 527 million, while profit attributable to shareholders rose by 20.4% to approximately HKD 212 million [1] - Earnings per share stood at HKD 0.21, with an interim dividend of HKD 0.062 [1] Revenue Growth Drivers - The revenue growth was primarily driven by the contributions from the industrial power supply and new energy sectors [1] Technological Advancements - As a leader in smart power solutions, the company integrates AI application technology into production equipment and develops core components for AI hardware, such as smart controllers and charging solutions [1] - The company aims to enhance production capacity and efficiency through AI technology, providing high-end technical support to downstream customers for rapid integration of AI developments [1] Operational Strategy - The company plans to strengthen the capacity layout and automation of its factories, optimizing global supply chain management to improve operational efficiency [1] - This strategy is designed to enable the company to respond agilely to market changes and further drive business expansion and growth objectives [1]

TEN PAO GROUP HOLDINGS LIMITED （經二零一五年十一月二十三日董事決議案通過採納， 並於二零二五年八月二十一日獲修訂） 成員 秘書 會議次數及議事程序 7. 提名委員會每年最少須舉行一次會議。 天寶集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1979） 提名委員會的 職權範圍 – 1 – 1. 提名委員會須由本公司董事會（「董事會」）設立。 2. 提名委員會的大多數成員須為本公司的獨立非執行董事。 3. 提名委員會之主席須由董事會委任，並須由董事會主席或獨立非執行董事擔 任。 4. 提名委員會成員的委任年期應由董事會於委任時決定。 5. 提名委員會之秘書應由本公司的公司秘書擔任。 6. 提名委員會可不時委任其他任何具備合適資格及經驗之人士作為提名委員會之 秘書。 18. 提名委員會須於每次會議後向董事會匯報其決定或建議，除非委員會受法律或 監管限制所限而不能作出匯報（例如因監管規定而限制披露）。 授權 – 3 – 16. 提名委員會之主席或（如其缺席）提名委員會之另一名成員（此成員必須為獨立 非執行董事）須出席本公司之股東周年大會，並應準備回應股東就提名委員會 ...

格隆汇8月21日丨天宝集团(01979.HK)公告，截至2025年6月30日止六个月收益较去年同期增加19.3%至 2,948.1百万港元。毛利增加4.9%至526.7百万港元。毛利率较去年同期下跌2.4个百分点至17.9%。公司 拥有人应占溢利较去年同期增加20.4%至211.7百万港元。董事会已议决分派每股普通股6.2港仙的中期 股息（2024年：每股普通股5.2港仙）。 ...

TEN PAO GROUP HOLDINGS LIMITED 天寶集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1979） 董事名單及彼等的角色和職能 天寶集團控股有限公司董事會（「董事會」）的成員載列如下： 董事會委員會有三個。下表提供各董事會成員所屬該等委員會的成員資料。 | | 委員會 | | | | --- | --- | --- | --- | | 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | | 洪光椅 | — | 成員 | 主席 | | 謝仲成 | — | — | — | | 洪瑞琳 | — | — | 成員 | | 林長泉 | 成員 | 成員 | 成員 | | 朱逸鵬 | 主席 | 成員 | 成員 | | 李均雄 | 成員 | 主席 | 成員 | | 呂新榮 | 成員 | 成員 | 成員 | 香港 二零二五年八月二十一日 洪光椅 執行董事、主席及行政總裁 謝仲成 執行董事、公司秘書及首席財務官 洪瑞琳 執行董事 林長泉 獨立非執行董事 朱逸鵬 獨立非執行董事 李均雄 獨立非執行董事 呂新榮 獨立非執行董事 ...

EF001 免責聲明 | 其他信息 | | | --- | --- | | 其他信息 | 不適用 | | 發行人董事 | | | 執行董事: 洪光椅先生、謝仲成先生及洪瑞琳女士 | | | 獨立非執行董事: 林長泉先生、朱逸鵬先生、李均雄先生及呂新榮博士 | | 第 2 頁 共 2 頁 v 1.1.1 第 1 頁 共 2 頁 v 1.1.1 | EF001 | | --- | | 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 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 天寶集團控股有限公司 | | 股份代號 | 01979 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年六月三十日止六個月之中期股息 | | | 公告日期 | 2025年8月21日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半 ...

[Financial Highlights](index=1&type=section&id=%E8%B4%A2%E5%8A%A1%E6%91%98%E8%A6%81) [Performance Overview](index=1&type=section&id=%E4%B8%9A%E7%BB%A9%E6%A6%82%E8%A7%88) Ten Pao Group Holdings Limited reported unaudited interim results for the six months ended June 30, 2025, with revenue up 19.3% to HKD 2,948.1 million, gross profit up 4.9% to HKD 526.7 million, but gross margin decreased by 2.4 percentage points to 17.9%, while profit attributable to owners increased by 20.4% to HKD 211.7 million, and an interim dividend of 6.2 HK cents per share was declared Financial Summary for the Six Months Ended June 30, 2025 | Indicator | June 30, 2025 (thousand HKD) | June 30, 2024 (thousand HKD) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | 2,948,051 | 2,471,011 | +19.3% | | Gross Profit | 526,658 | 501,850 | +4.9% | | Gross Profit Margin | 17.9% | 20.3% | -2.4 percentage points | | Profit Before Income Tax | 253,309 | 207,024 | +22.4% | | Profit Attributable to Owners of the Company | 211,650 | 175,830 | +20.4% | | Basic Earnings Per Share | HKD 0.21 | HKD 0.17 | +HKD 0.04 | - The Board has resolved to declare an interim dividend of **6.2 HK cents per ordinary share** for the six months ended June 30, 2025 (2024: 5.2 HK cents per ordinary share)[3](index=3&type=chunk) [Financial Statements](index=2&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=%E7%AE%80%E6%98%8E%E5%90%88%E5%B9%B6%E6%8D%9F%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company's revenue increased to HKD 2,948.1 million, operating profit significantly grew to HKD 252.3 million, and profit attributable to owners reached HKD 211.7 million Key Data from Condensed Consolidated Statement of Profit or Loss | Indicator | June 30, 2025 (thousand HKD) | June 30, 2024 (thousand HKD) | | :--- | :--- | :--- | | Revenue | 2,948,051 | 2,471,011 | | Cost of Sales | (2,421,393) | (1,969,161) | | Gross Profit | 526,658 | 501,850 | | Other Income | 9,262 | 10,508 | | Other Gains — Net | 28,150 | 28,912 | | Selling Expenses | (68,602) | (84,082) | | Administrative Expenses | (241,849) | (247,222) | | Net Impairment Loss on Financial Assets | (1,275) | (9,855) | | Operating Profit | 252,344 | 200,111 | | Finance Income — Net | 965 | 6,913 | | Profit Before Income Tax | 253,309 | 207,024 | | Income Tax Expense | (41,129) | (31,680) | | Profit for the Period | 212,180 | 175,344 | | Profit Attributable to Owners of the Company | 211,650 | 175,830 | | Non-controlling Interests | 530 | (486) | | Basic and Diluted Earnings Per Share | HKD 0.21 | HKD 0.17 | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=%E7%AE%80%E6%98%8E%E5%90%88%E5%B9%B6%E7%BB%BC%E5%90%88%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, profit for the period was HKD 212.2 million, with total comprehensive income attributable to owners of HKD 242.5 million, influenced by currency translation differences and fair value changes in equity investments Key Data from Condensed Consolidated Statement of Comprehensive Income | Indicator | June 30, 2025 (thousand HKD) | June 30, 2024 (thousand HKD) | | :--- | :--- | :--- | | Profit for the Period | 212,180 | 175,344 | | Other Comprehensive Income (items that may be reclassified to profit or loss subsequently) | | | | Currency Translation Differences | (19,446) | 30,849 | | Fair Value Changes of Equity Investments at Fair Value Through Other Comprehensive Income | 881 | — | | Total Other Comprehensive Income | (18,565) | 30,849 | | Total Comprehensive Income for the Period | 193,615 | 206,193 | | Total Comprehensive Income for the Period Attributable to Owners of the Company | 193,085 | 206,679 | | Non-controlling Interests | 530 | (486) | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=%E7%AE%80%E6%98%8E%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, total assets were HKD 5,121.5 million, total liabilities HKD 3,077.6 million, and total equity HKD 2,043.9 million, showing an increase in non-current assets and a decrease in current assets and liabilities Key Data from Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | **Assets** | | | | Total Non-current Assets | 1,892,023 | 1,678,624 | | Total Current Assets | 3,229,451 | 3,731,027 | | **Total Assets** | **5,121,474** | **5,409,651** | | **Equity** | | | | Share Capital and Reserves Attributable to Owners of the Company | 2,047,846 | 1,855,720 | | Non-controlling Interests | (3,943) | (4,125) | | **Total Equity** | **2,043,903** | **1,851,595** | | **Liabilities** | | | | Total Non-current Liabilities | 186,500 | 177,235 | | Total Current Liabilities | 2,891,071 | 3,380,821 | | **Total Liabilities** | **3,077,571** | **3,558,056** | | **Total Equity and Liabilities** | **5,121,474** | **5,409,651** | [Notes to the Financial Statements](index=6&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%99%84%E6%B3%A8) [General Information](index=6&type=section&id=%E4%B8%80%E8%88%AC%E8%B5%84%E6%96%99) Ten Pao Group Holdings Limited, incorporated in the Cayman Islands and listed on HKEX since 2015, primarily engages in consumer switching power supplies and industrial smart chargers and controllers in China, with Mr. Hung Kwong Yee as controlling shareholder - Ten Pao Group Holdings Limited was incorporated in the Cayman Islands on January 27, 2015, and listed on The Stock Exchange of Hong Kong Limited on December 11, 2015[9](index=9&type=chunk)[10](index=10&type=chunk) - The Group is principally engaged in the development, manufacture, and sale of consumer switching power supplies and industrial smart chargers and controllers in the PRC, with Mr. Hung Kwong Yee as the controlling shareholder[9](index=9&type=chunk) [Basis of Preparation](index=6&type=section&id=%E7%BC%96%E5%88%B6%E5%9F%BA%E5%87%86) These interim financial information are prepared in accordance with HKAS 34 "Interim Financial Reporting" issued by the HKICPA and should be read in conjunction with the 2024 annual financial statements - These interim financial information are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants and should be read in conjunction with the annual financial statements for the year ended December 31, 2024[13](index=13&type=chunk) [Accounting Policies](index=6&type=section&id=%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96) Accounting policies applied are consistent with the 2024 financial statements, except for HKFRS amendments effective January 1, 2025, which directors believe have no significant impact on the Group's financial performance or position - The accounting policies applied are consistent with those adopted in the 2024 financial statements, except for the adoption of amendments to Hong Kong Financial Reporting Standards effective for financial years beginning on January 1, 2025[14](index=14&type=chunk) - The Directors believe that the application of new and revised standards and interpretations of HKFRS during the period has no significant impact on the Group's financial performance and position for the current and prior periods, nor on the information disclosed in these interim financial information[15](index=15&type=chunk) Standards Issued But Not Yet Applied by the Group | Standard | Description | Effective Date | | :--- | :--- | :--- | | Annual Improvements to HKFRS Accounting Standards | Annual Improvements | January 1, 2026 | | Amendments to HKFRS 9 and HKFRS 7 | Classification and Measurement of Financial Instruments | January 1, 2026 | | HKFRS 18 | Presentation and Disclosure in Financial Statements | January 1, 2027 | | HKFRS 19 | Non-publicly Accountable Subsidiaries: Disclosures | January 1, 2027 | | HK(IFRIC)-Int 5 | Classification by a Borrower of a Term Loan that Contains a Repayment on Demand Clause | January 1, 2027 | | Amendments to HKAS 28 and HKFRS 10 | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture | To be determined | [Estimates](index=7&type=section&id=%E4%BC%B0%E8%AE%A1) The preparation of interim financial information involves management judgments, estimates, and assumptions consistent with those applied in the 2024 financial statements, with actual results potentially differing - The preparation of interim financial information requires management to make judgments, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income, and expenses, and actual results may differ[18](index=18&type=chunk) - In preparing these interim financial information, the significant judgments made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those applied in the 2024 financial statements[18](index=18&type=chunk) [Financial Risk Management](index=7&type=section&id=%E8%B4%A2%E5%8A%A1%E9%A3%8E%E9%99%A9%E7%AE%A1%E7%90%86) The Group faces market risks (foreign exchange, price, interest rate), credit risk, and liquidity risk, with no changes in risk management functions or policies since December 31, 2024, and no significant liquidity risk - The Group is exposed to various financial risks from its business activities: market risk (including foreign exchange risk, price risk, cash flow, and fair value interest rate risk), credit risk, and liquidity risk[19](index=19&type=chunk) - There have been no changes in the risk management function or risk management policies since December 31, 2024[19](index=19&type=chunk) - The Directors believe that the Group does not have any significant liquidity risk[20](index=20&type=chunk) [Segment Information](index=8&type=section&id=%E5%88%86%E9%83%A8%E8%B5%84%E6%96%99) The Group's business is divided into six reportable segments: smart chargers and controllers, telecommunications, new energy business, media and entertainment, lighting, and others, with smart chargers and controllers having the highest revenue and new energy business showing significant growth for the six months ended June 30, 2025 - The Group's electronic charging products are classified into six reportable segments: (i) smart chargers and controllers; (ii) telecommunications; (iii) new energy business; (iv) media and entertainment; (v) lighting; and (vi) others[21](index=21&type=chunk) Segment Revenue and Results (for the Six Months Ended June 30) | Segment | 2025 Revenue (thousand HKD) | 2025 Segment Results (thousand HKD) | 2024 Revenue (thousand HKD) | 2024 Segment Results (thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Smart Chargers and Controllers | 1,170,307 | 279,599 | 989,123 | 264,363 | | Telecommunications | 663,505 | 85,430 | 639,117 | 92,967 | | New Energy Business | 562,244 | 44,969 | 420,911 | 48,207 | | Media and Entertainment | 221,977 | 41,713 | 168,547 | 34,876 | | Lighting | 207,137 | 52,361 | 146,748 | 35,146 | | Others | 122,881 | 22,586 | 106,565 | 26,291 | | **Total** | **2,948,051** | **526,658** | **2,471,011** | **501,850** | Non-current Assets by Country (excluding financial instruments and deferred income tax assets) | Country | June 30, 2025 (thousand HKD) | June 30, 2024 (thousand HKD) | | :--- | :--- | :--- | | PRC (excluding Hong Kong) | 1,370,416 | 1,217,535 | | Vietnam | 146,525 | 127,906 | | Hungary | 64,966 | 61,999 | | Hong Kong | 88,829 | 9,818 | | Others | 33,820 | 11,714 | | **Total** | **1,704,556** | **1,428,972** | [Other Income and Other Gains — Net](index=10&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%20%E2%80%94%20%E5%87%80%E9%A2%9D) For the six months ended June 30, 2025, other income was HKD 9.3 million and other net gains were HKD 28.2 million, primarily from net exchange gains and government grants Other Income and Other Gains — Net | Item | June 30, 2025 (thousand HKD) | June 30, 2024 (thousand HKD) | | :--- | :--- | :--- | | **Other Income** | | | | Sale of Scraps | 4,867 | 3,586 | | Product Standard Modification Fees | — | 2,444 | | Sale of Raw Materials, Samples, and Molds | 2,209 | 2,423 | | Safety Fee Income | 729 | 707 | | Others | 1,457 | 1,348 | | **Subtotal** | **9,262** | **10,508** | | **Other Gains — Net** | | | | Fair Value Changes of Derivative Financial Instruments | 1,336 | (648) | | Fair Value Changes of Financial Assets at Fair Value Through Profit or Loss | 3,188 | 2,419 | | Fair Value Changes of Investment Properties | (300) | (500) | | Net Exchange Gains | 15,565 | 10,751 | | Government Grants | 7,920 | 17,929 | | Gains on Disposal of Property, Plant and Equipment | 2,816 | 187 | | Others | (2,375) | (1,226) | | **Subtotal** | **28,150** | **28,912** | [Expenses by Nature](index=10&type=section&id=%E6%8C%89%E6%80%A7%E8%B4%A8%E5%88%92%E5%88%86%E7%9A%84%E5%BC%80%E6%94%AF) For the six months ended June 30, 2025, total expenses amounted to HKD 2,731.8 million, with raw materials and consumables being the largest component and employee benefit expenses also increasing Expenses by Nature (for the Six Months Ended June 30) | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Raw Materials and Consumables Used (excluding R&D expenses) | 1,923,878 | 1,741,599 | | Employee Benefit Expenses (excluding R&D expenses) | 394,462 | 326,802 | | Changes in Inventories of Finished Goods and Work-in-progress | 111,136 | (70,274) | | Depreciation, Amortisation and Impairment Expenses (excluding R&D expenses) | 72,091 | 89,538 | | R&D Expenses — Employee Benefit Expenses | 76,792 | 68,902 | | R&D Expenses — Raw Materials, Consumables, and Others Used | 23,424 | 15,873 | | R&D Expenses — Depreciation and Amortisation | 7,946 | 8,642 | | Provision for Impairment of Inventories | 58 | 2,607 | | Auditor's Remuneration | 1,678 | 1,618 | | Other Expenses | 120,379 | 115,158 | | **Total Cost of Sales, Selling Expenses, and Administrative Expenses** | **2,731,844** | **2,300,465** | [Finance Income and Expenses](index=11&type=section&id=%E8%B4%A2%E5%8A%A1%E6%94%B6%E5%85%A5%E5%8F%8A%E5%BC%80%E6%94%AF) For the six months ended June 30, 2025, net finance income was HKD 965 thousand, a significant decrease from HKD 6,913 thousand in the prior year, mainly due to a substantial increase in interest expense on bank borrowings Finance Income and Expenses (for the Six Months Ended June 30) | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | **Finance Income:** | | | | Interest Income | 8,024 | 9,035 | | **Finance Expenses:** | | | | Interest on Bank Borrowings | (6,255) | (1,349) | | Interest on Lease Liabilities | (804) | (773) | | **Finance Expenses Expensed** | **(7,059)** | **(2,122)** | | **Finance Income — Net** | **965** | **6,913** | [Income Tax Expense](index=11&type=section&id=%E6%89%80%E5%BE%97%E7%A8%8E%E5%BC%80%E6%94%AF) For the six months ended June 30, 2025, income tax expense was HKD 41.1 million, primarily comprising PRC corporate income tax, Hong Kong profits tax, and Vietnam corporate income tax, with some PRC subsidiaries enjoying a preferential 15% tax rate as "High-New Technology Enterprises" Income Tax Expense (for the Six Months Ended June 30) | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | **Current Income Tax** | | | | — PRC Corporate Income Tax | 20,792 | 15,573 | | — Hong Kong Profits Tax | 15,399 | 7,815 | | — Vietnam Corporate Income Tax | 7,356 | 4,263 | | **Subtotal** | **43,547** | **27,651** | | Deferred Income Tax | (2,418) | 4,029 | | **Total** | **41,129** | **31,680** | - Ten Pao Electronic (Huizhou) Co, Ltd, Dazhou Ten Pao Jinhu Electronic Co, Ltd, Shaanxi Huifeng Electronic Technology Co, Ltd, Huizhou Ten Pao Chuangneng Technology Co, Ltd, and Ten Pao Precision Technology (Huizhou) Co, Ltd are recognized as "High-New Technology Enterprises" and enjoy a preferential corporate income tax rate of **15%**[27](index=27&type=chunk) [Earnings Per Share](index=12&type=section&id=%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9) For the six months ended June 30, 2025, basic earnings per share increased to 21 HK cents from 17 HK cents in the prior year, with diluted earnings per share being similar to basic earnings per share Earnings Per Share (for the Six Months Ended June 30) | Indicator | 2025 (thousand HKD/thousand shares/HK cents) | 2024 (thousand HKD/thousand shares/HK cents) | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company | 211,650 | 175,830 | | Weighted Average Number of Shares in Issue | 1,030,389 | 1,030,389 | | Basic Earnings Per Share | 21 | 17 | - As of June 30, 2025, diluted earnings per share were similar to basic earnings per share (June 30, 2024: same)[29](index=29&type=chunk) [Dividends](index=12&type=section&id=%E8%82%A1%E6%81%AF) The Board resolved to declare an interim dividend of 6.2 HK cents per ordinary share for the six months ended June 30, 2025, totaling HKD 63.9 million, an increase from the prior year - The Board resolved on August 21, 2025, to declare an interim dividend of **6.2 HK cents per ordinary share** of the Company for the six months ended June 30, 2025 (2024 interim: 5.2 HK cents per ordinary share), amounting to **HKD 63.9 million** (2024 interim: HKD 53.6 million)[30](index=30&type=chunk) - On June 13, 2025, the final dividend of **6 HK cents per ordinary share** of the Company for the year ended December 31, 2024 (amounting to HKD 61,823,000) was approved by the then shareholders[30](index=30&type=chunk) [Property, Plant and Equipment](index=13&type=section&id=%E7%89%A9%E4%B8%9A%E3%80%81%E5%8E%82%E6%88%BF%E5%8F%8A%E8%AE%BE%E5%A4%87) As of June 30, 2025, the net book value of property, plant and equipment increased to HKD 1,370.6 million from December 31, 2024, primarily due to additions and currency translation differences Changes in Net Book Value of Property, Plant and Equipment | Item | June 30, 2025 (thousand HKD) | | :--- | :--- | | Net Book Value at January 1, 2024 | 1,253,639 | | Additions | 165,456 | | Disposals | (6,491) | | Currency Translation Differences | 26,048 | | Depreciation/Amortisation | (68,061) | | **Net Book Value at June 30, 2025** | **1,370,591** | [Inventories](index=13&type=section&id=%E5%AD%98%E8%B4%A7) As of June 30, 2025, net inventories decreased to HKD 851.2 million from December 31, 2024, mainly due to reductions in raw materials, work-in-progress, and finished goods, while impairment provisions slightly increased Composition of Inventories | Item | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Raw Materials | 327,152 | 400,376 | | Work-in-progress | 177,626 | 191,874 | | Finished Goods | 440,675 | 537,563 | | **Total** | **945,453** | **1,129,813** | | Less: Impairment Provision | (94,216) | (92,872) | | **Net Value** | **851,237** | **1,036,941** | Changes in Impairment Provision for Inventories | Item | June 30, 2025 (thousand HKD) | June 30, 2024 (thousand HKD) | | :--- | :--- | :--- | | At January 1 | 92,872 | 108,499 | | Currency Translation Differences | 1,286 | (480) | | Net Write-back of Provision | 58 | 2,607 | | **At June 30** | **94,216** | **110,626** | [Trade and Other Receivables](index=14&type=section&id=%E8%B4%B8%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E6%94%B6%E6%AC%BE%E9%A1%B9) As of June 30, 2025, total trade and other receivables amounted to HKD 1,680.5 million, with net trade receivables at HKD 1,522.2 million, generally subject to 30 to 90-day credit terms, and some receivables pledged for bank borrowings Composition of Trade and Other Receivables | Item | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Trade Receivables — Net | 1,522,219 | 1,452,038 | | VAT Provision | 90,805 | 64,509 | | Prepayments | 24,500 | 20,093 | | Bills Receivable | 18,302 | 97 | | Cash in Transit | 9,420 | 8,837 | | Export Tax Refund Receivable | 6,720 | 16,185 | | Deposits | 3,978 | 8,087 | | Employee Benefits | 3,682 | 3,306 | | Advances to Employees | 745 | 560 | | Others | 143 | 3,635 | | **Total** | **1,680,514** | **1,577,347** | Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Less than 3 months | 1,213,616 | 1,088,281 | | More than 3 months but not exceeding 1 year | 314,610 | 367,100 | | More than 1 year | 1,391 | 3,616 | | **Total** | **1,529,617** | **1,458,997** | - As of June 30, 2025, the Group's bank borrowings were secured by trade and other receivables with a carrying amount of **HKD 83,257,000** (December 31, 2024: HKD 332,282,000)[34](index=34&type=chunk) [Share Capital and Share Premium](index=15&type=section&id=%E8%82%A1%E6%9C%AC%E5%8F%8A%E8%82%A1%E4%BB%BD%E6%BA%A2%E4%BB%B7) As of June 30, 2025, issued and fully paid ordinary share capital was HKD 10.3 million and share premium was HKD 162.4 million, remaining unchanged from December 31, 2024 Issued and Fully Paid Ordinary Shares | Item | Number of Shares | Share Capital (thousand HKD) | Share Premium (thousand HKD) | Total (thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | At January 1, 2024, December 31, 2024, January 1, 2025, and June 30, 2025 | 1,030,388,965 | 10,304 | 162,426 | 172,730 | [Borrowings](index=15&type=section&id=%E5%80%9F%E8%B4%B7) As of June 30, 2025, total borrowings were HKD 610.8 million, all current bank borrowings, a decrease from HKD 650.7 million on December 31, 2024, mainly due to net repayment, with some bank borrowings secured by restricted bank deposits and trade and other receivables Total Borrowings | Item | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | **Non-current** | | | | Bank Borrowings — Secured | — | 3,002 | | Less: Current Portion of Non-current Borrowings | — | (3,002) | | **Subtotal** | **—** | **—** | | **Current** | | | | Bank Borrowings — Secured | 505,840 | 606,262 | | Bank Borrowings — Unsecured | 104,936 | 41,477 | | **Total Short-term Bank Borrowings** | **610,776** | **647,739** | | Current Portion of Non-current Borrowings | — | 3,002 | | **Total Borrowings** | **610,776** | **650,741** | Changes in Borrowings (for the Six Months Ended June 30) | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Opening Balance at January 1 | 650,741 | 654,899 | | Proceeds from Borrowings | 583,747 | 140,879 | | Repayment of Borrowings | (632,592) | (584,370) | | Currency Translation Differences | 8,880 | (3,464) | | **Closing Balance at June 30** | **610,776** | **207,944** | Assets Pledged for Bank Borrowings | Pledged Assets | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Restricted Bank Deposits | 385,853 | 584,942 | | Trade and Other Receivables | 83,257 | 332,282 | | Investment Properties | — | 6,300 | | **Total** | **469,110** | **923,524** | [Trade and Other Payables](index=16&type=section&id=%E8%B4%B8%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E4%BB%98%E6%AC%BE%E9%A1%B9) As of June 30, 2025, total trade and other payables amounted to HKD 2,105.2 million, a decrease from December 31, 2024, primarily due to reductions in trade payables and bills payable Composition of Trade and Other Payables | Item | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Trade Payables | 1,297,736 | 1,613,613 | | Bills Payable | 322,436 | 496,672 | | Accrued Wages and Employee Benefits | 302,001 | 346,398 | | Accrued Expenses and Other Payables | 129,932 | 130,414 | | Payables Related to Share-based Transactions with Subsidiaries | 24,916 | 29,911 | | Endorsed Bills Receivable Not Derecognized and Not Yet Due | 18,031 | — | | Other Taxes Payable | 10,195 | 6,649 | | **Total** | **2,105,247** | **2,623,657** | Ageing Analysis of Trade Payables | Ageing | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Less than 3 months | 1,212,210 | 1,267,909 | | More than 3 months but not exceeding 1 year | 77,538 | 335,907 | | More than 1 year | 7,988 | 9,797 | | **Total** | **1,297,736** | **1,613,613** | [Management Discussion and Analysis](index=17&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) [Overview](index=17&type=section&id=%E6%A6%82%E8%A7%88) Ten Pao Group, a smart power solution provider, successfully navigated global inflation and geopolitical conflicts in H1 2025 through diversified market presence, production bases, and R&D centers, achieving 19.3% revenue growth to HKD 2,948.1 million and 20.4% profit growth to HKD 211.7 million, while maintaining a stable dividend policy - Ten Pao, as a leading smart power solution provider, has consistently received multiple awards for excellent quality and delivery from Global Fortune 500 clients for many years, and has been recognized as a national provincial green factory and awarded for excellence in new industrialization[37](index=37&type=chunk) - Facing global inflation, geopolitical conflicts, and trade barriers, the Group successfully implemented flexible resource allocation and agile market response through diversified markets, decentralized production bases, and R&D centers[38](index=38&type=chunk) - The Group seized opportunities in AI smart manufacturing and energy development, expanding its new energy and high-end smart controller businesses, enhancing its product portfolio and customer base, thereby forming a business safety barrier[38](index=38&type=chunk) Key Financial Performance for H1 2025 | Indicator | Amount (HKD) | Year-on-Year Growth | | :--- | :--- | :--- | | Revenue | 2,948.1 million | 19.3% | | Gross Profit | 526.7 million | - | | Gross Profit Margin | 17.9% | Decreased | | Profit Before Tax | 253.3 million | - | | Profit Attributable to Owners of the Company | 211.7 million | 20.4% | | Basic Earnings Per Share | 21 HK cents | Increased | - The Group is committed to maintaining a long-term stable dividend policy, declaring an interim dividend of **6.2 HK cents per ordinary share** for the current period (2024: 5.2 HK cents), with a payout ratio of approximately **30.2%**[40](index=40&type=chunk) [Market and Business Review](index=18&type=section&id=%E5%B8%82%E5%9C%BA%E5%8F%8A%E4%B8%9A%E5%8A%A1%E5%9B%9E%E9%A1%BE) Amid global market uncertainties, the Group maintained operational and financial stability through its "high quality, strong R&D, smart manufacturing, and global presence" strategy, expanding industrial power, new energy, and consumer power businesses, with global production layout entering a harvest phase and active positioning in AI computing power and smart controller markets - The Group steadfastly executed its comprehensive strategy of "high quality, strong R&D, smart manufacturing, and global presence" to drive diversified development of innovative products and customers with high flexibility, maintain stable raw material supply, advance order fulfillment and delivery, and implement strict internal cost control, thereby maintaining operational and financial stability[41](index=41&type=chunk) - The industrial power segment's revenue increased by **18.3%** year-on-year, accounting for **39.7%** of total revenue, as the Group continued to research and develop fast charging technologies and high-tech digital power products, entering the new track of high-power computing power power supplies[42](index=42&type=chunk) - The Group successfully expanded its AI computing power power product matrix, launching new high-power power products of **3,500W** for servers, widely applicable in high-performance computing scenarios such as cloud computing data centers, supercomputing/HPC systems, and enterprise-grade servers[43](index=43&type=chunk) - To seize opportunities in the smart controller market, the Group actively engaged with Global Fortune 500 clients to expand demand for high-end smart controller orders, with new production bases in Vietnam and Mexico equipped with smart controller production facilities[45](index=45&type=chunk) - New energy business revenue increased by **33.6%** year-on-year, rising to **19.1%** of total revenue, primarily driven by energy storage and automotive electronics products, as the Group adhered to three strategies: "energy storage systems, automotive electronics applications, and core charging modules for electric vehicles," and participated in Thailand's "oil-to-electric" two-wheel electric vehicle battery swap cabinet and fast charging pile projects[47](index=47&type=chunk) - The Group's global production layout is entering a harvest phase, with production bases located in Huizhou and Dazhou in China, Hungary, Vietnam, and Mexico, and the new Chuangneng Industrial Park production lines in Huizhou are expected to be fully operational in H2 2025, while new factory production lines in Vietnam and Mexico primarily focus on smart controllers[48](index=48&type=chunk) - The Group integrates AI application technology into its production equipment and develops core components of AI hardware—smart controllers and charging solutions—to fully connect the AI industry chain, enhance production capacity and efficiency, and provide high-end technical support to downstream customers[50](index=50&type=chunk) [Outlook](index=20&type=section&id=%E5%B1%95%E6%9C%9B) For H2 2025, facing global economic slowdown and trade policy changes, the Group will deepen its core new energy and smart controller businesses, align with "new quality productive forces," focus on energy storage, EV charging, and AI computing power, and enhance R&D, global production, and supply chain management for sustainable growth - Looking ahead to H2 2025, the Group will maintain close communication with customers, respond to global market changes with a flexible global production and sales network, and seize global emission reduction and intelligentization trends to develop competitive smart products, continuously deepening and expanding its core new energy and smart controller businesses[51](index=51&type=chunk) - The Group will actively respond to the national call for developing "new quality productive forces," expand into the green new energy sector, focusing on cutting-edge areas such as energy storage system solutions, electric vehicle charging equipment, green mobility, and AI computing power power supplies, which will become new engines driving Ten Pao's future growth[52](index=52&type=chunk) - The Group will continue to strengthen R&D investment, focusing on developing smart products and energy storage systems, high-end smart controllers, all-digital power products, and high-power and high-stability power products, and actively expand into the Southeast Asian new energy market, participating in Thailand's "oil-to-electric" two-wheel electric vehicle battery swap cabinet and fast charging pile projects[54](index=54&type=chunk) - The global smart controller market size is projected to exceed **USD 100 billion by 2033**, and the Group will continue to empower growth across various industries, making it a key development direction[55](index=55&type=chunk) - Global AI computing power equipment power supply market sales are expected to reach **USD 805 million by 2031**, with a compound annual growth rate of **7.5%**, and the Group will continue to strengthen the development and market promotion of AI computing power power supply related product lines, and evaluate cooperation opportunities with leading global technology companies[57](index=57&type=chunk) - The Group will continue to strengthen its global product and production layout, strategically expand overseas production bases, actively promote the application of intelligent manufacturing and high-efficiency technologies, and enhance cooperation with top international clients to expand into high-value-added business areas[59](index=59&type=chunk) [Liquidity and Financial Resources](index=23&type=section&id=%E6%B5%81%E5%8A%A8%E8%B5%84%E9%87%91%E5%8F%8A%E8%B4%A2%E5%8A%A1%E8%B5%84%E6%BA%90) As of June 30, 2025, the Group maintained a sound financial position with net current assets of HKD 338.4 million, a current ratio of 1.12 times, and a gearing ratio of 29.9%, with net cash from operating activities at HKD 99.7 million, net cash used in investing activities at HKD 230.4 million, and net cash from financing activities at HKD 3.1 million Liquidity and Financial Ratios | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Net Current Assets | HKD 338.4 million | HKD 350.2 million | | Current Ratio | 1.12 times | 1.10 times | | Gearing Ratio | 29.9% | 35.1% | Cash Flow (for the Six Months Ended June 30) | Item | 2025 (million HKD) | 2024 (million HKD) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 99.7 | 332.9 | | Net Cash Used in Investing Activities | (230.4) | (183.9) | | Net Cash from Financing Activities | 3.1 | (66.9) | Debt Maturity Profile | Maturity Period | June 30, 2025 (thousand HKD) | December 31, 2024 (thousand HKD) | | :--- | :--- | :--- | | Within 1 year | 610,776 | 650,741 | | 1 to 2 years | — | — | | 2 to 5 years | — | — | | **Total** | **610,776** | **650,741** | [Financial Risk Management](index=24&type=section&id=%E8%B4%A2%E5%8A%A1%E9%A3%8E%E9%99%A9%E7%AE%A1%E7%90%86_MD%26A) The Group manages foreign exchange risk, cash flow and fair value interest rate risk, and credit risk through regular review of net foreign exchange exposure, maintaining sufficient cash, and implementing strict customer credit assessment policies [Foreign Exchange Risk](index=24&type=section&id=%E5%A4%96%E6%B1%87%E9%A3%8E%E9%99%A9) The Group primarily faces exchange rate fluctuation risks of HKD and USD against RMB, as most revenue and receivables are denominated in USD and HKD, while cost of sales is mainly in RMB, with no foreign exchange forward contracts entered into during the period - The Group is exposed to currency exchange rate fluctuation risks of HKD and USD against RMB due to its export sales to overseas countries, with revenue denominated in USD and HKD accounting for approximately **48.7%** of its total revenue (2024: 50.1%)[65](index=65&type=chunk) - The Group manages its foreign exchange risk by regularly reviewing its net foreign exchange exposure and may enter into foreign exchange forward contracts when necessary, but no such contracts were entered into during the current period[65](index=65&type=chunk) [Cash Flow and Fair Value Interest Rate Risk](index=24&type=section&id=%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E5%8F%8A%E5%85%AC%E5%85%81%E5%80%BC%E5%88%A9%E7%8E%87%E9%A3%8E%E9%99%A9) The Group's income and operating cash flows are largely unaffected by market interest rate changes due to no significant interest-bearing assets (excluding bank balances and cash), with bank borrowings primarily denominated in HKD, USD, and RMB - The Group's income and operating cash flows are largely unaffected by changes in market interest rates, as the Group has no significant interest-bearing assets (other than bank balances and cash)[66](index=66&type=chunk) - As of June 30, 2025, the Group's bank borrowings amounted to **HKD 610.8 million** (December 31, 2024: HKD 650.7 million), primarily denominated in HKD, USD, and RMB[66](index=66&type=chunk) [Credit Risk](index=24&type=section&id=%E4%BF%A1%E8%B4%B7%E9%A3%8E%E9%99%A9) The Group has no significant concentration of credit risk, managing it by extending credit to customers with good credit records, regularly assessing financial standing, and requiring prepayments, while bank balances and restricted deposits are held with reputable banks - The Group has no significant concentration of credit risk, having implemented policies to ensure that credit terms are only granted to customers with good credit records, and regularly assesses their creditworthiness based on financial standing, past experience, and other factors[67](index=67&type=chunk) - For customers not granted credit terms, the Group generally requires them to pay deposits and/or advances before product delivery[67](index=67&type=chunk) - All of the Group's bank balances, time deposits, and restricted bank deposits are held with reputable and large banks and financial institutions in the PRC and Hong Kong that do not have significant credit risk[68](index=68&type=chunk) [Liquidity Risk](index=25&type=section&id=%E6%B5%81%E5%8A%A8%E8%B5%84%E9%87%91%E9%A3%8E%E9%99%A9) Management closely monitors liquidity, maintaining sufficient cash and cash equivalents to cover working capital and mitigate cash flow fluctuations - The Group's management closely monitors its liquidity position, maintaining cash and cash equivalents at levels deemed sufficient to cover working capital and mitigate the impact of cash flow fluctuations[69](index=69&type=chunk) [Contingent Liabilities](index=25&type=section&id=%E6%88%96%E7%84%B6%E8%B4%9F%E5%80%BA) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities (December 31, 2024: nil)[70](index=70&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=25&type=section&id=%E8%B4%AD%E4%B9%B0%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B5%8E%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B8%8A%E5%B8%82%E8%AF%81%E5%88%B8) During the period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[71](index=71&type=chunk) [Human Resources](index=25&type=section&id=%E4%BA%BA%E5%8A%9B%E8%B5%84%E6%BA%90) As of June 30, 2025, the Group employed approximately 8,000 full-time employees, with total labor costs of HKD 471.3 million, and has adopted new share option and subsidiary share award schemes to attract, develop, and retain talent - As of June 30, 2025, the Group employed approximately **8,000 full-time employees**, with total labor costs for the period amounting to **HKD 471.3 million**, compared to HKD 395.7 million for the corresponding period last year[72](index=72&type=chunk) - The Company conditionally adopted a share option scheme ("2025 Share Option Scheme") on June 13, 2025, aiming to provide incentives, rewards, or encouragement to eligible participants through the grant of share options[73](index=73&type=chunk) - The board of directors of Ten Pao Electronic (Huizhou) Co, Ltd, a subsidiary of the Company, has resolved to propose the adoption of the Ten Pao Electronic (Huizhou) Share Award Scheme, aiming to establish a long-term incentive mechanism to attract and retain talent[73](index=73&type=chunk) [Other Information](index=26&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) [Corporate Governance Practices](index=26&type=section&id=%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB%E5%B8%B8%E8%A7%84) The Company is committed to good corporate governance, having established audit, nomination, and remuneration committees, and has complied with the Corporate Governance Code during the period, except for the combined roles of Chairman and CEO, which the Board believes is in the Company's best interest - The Board has established an Audit Committee, a Nomination Committee, and a Remuneration Committee, and formulated their respective terms of reference, in compliance with the requirements of the Corporate Governance Code set out in Appendix C1 of the Listing Rules[74](index=74&type=chunk) - The Company has complied with the applicable code provisions of the Corporate Governance Code throughout the period, save for code provision C.2.1 (separation of the roles of chairman and chief executive)[74](index=74&type=chunk) - The Board believes that combining the roles of Chairman and Chief Executive Officer allows for strong and consistent leadership, which facilitates the Group's implementation and execution of business strategies, serving the best interests of the Company[75](index=75&type=chunk) [Changes in Composition of Nomination Committee](index=26&type=section&id=%E6%8F%90%E5%90%8D%E5%A7%94%E5%91%98%E4%BC%9A%E7%BB%84%E6%88%90%E5%8F%98%E5%8A%A8) Ms. Hung Shui Lam, an executive director, was appointed as a member of the Nomination Committee effective August 21, 2025, resulting in a six-member committee comprising two executive and four independent non-executive directors - Ms. Hung Shui Lam, an executive director of the Company, has been appointed as a member of the Nomination Committee, effective August 21, 2025[76](index=76&type=chunk) - Following the aforementioned change, the Nomination Committee will comprise **six members**, including two executive directors (namely Mr. Hung, Chairman, and Ms. Hung Shui Lam) and four independent non-executive directors[76](index=76&type=chunk) [Standard Code for Securities Transactions](index=27&type=section&id=%E8%AF%81%E5%88%B8%E4%BA%A4%E6%98%93%E6%A0%87%E5%87%86%E5%AE%88%E5%88%99) The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as its code of conduct for directors and relevant employees, with all directors confirming compliance during the period - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules as its code of conduct for directors' dealings in the Company's securities[77](index=77&type=chunk) - All Directors confirmed that they have complied with the Model Code throughout the period and up to the date of this announcement, and the Company is not aware of any non-compliance with the Model Code by relevant employees[77](index=77&type=chunk) [Interim Dividend](index=27&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board has resolved to declare an interim dividend of 6.2 HK cents per ordinary share for the period (2024: 5.2 HK cents), expected to be paid on October 27, 2025, to shareholders on record as of October 10, 2025 - The Board has resolved to declare an interim dividend of **6.2 HK cents per ordinary share** (2024: 5.2 HK cents per ordinary share) to shareholders for the current period[78](index=78&type=chunk) - The interim dividend is expected to be paid on Monday, October 27, 2025, to all shareholders whose names appear on the register of members of the Company on Friday, October 10, 2025[78](index=78&type=chunk) [Significant Events After Reporting Period](index=27&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%90%8E%E9%87%8D%E5%A4%A7%E4%BA%8B%E4%BB%B6) The Directors are unaware of any discloseable significant events occurring after June 30, 2025, and up to the announcement date - The Directors are not aware of any significant events requiring disclosure that have occurred subsequent to June 30, 2025, and up to the date of this announcement[79](index=79&type=chunk) [Closure of Register of Members](index=27&type=section&id=%E6%9A%82%E5%81%9C%E5%8A%9E%E7%90%86%E8%82%A1%E4%BB%BD%E8%BF%87%E6%88%B7%E7%99%BB%E8%AE%B0%E6%89%8B) The Company's register of members will be closed from October 8 to October 10, 2025, to determine shareholders entitled to the interim dividend, with the ex-dividend date being October 3, 2025 - The Company's register of members will be closed from Wednesday, October 8, 2025, to Friday, October 10, 2025 (both days inclusive), for the purpose of determining shareholders entitled to the interim dividend for the current period[80](index=80&type=chunk) - The ex-dividend date will be Friday, October 3, 2025[80](index=80&type=chunk) [Audit Committee and Review of Financial Statements](index=27&type=section&id=%E5%AE%A1%E6%A0%B8%E5%A7%94%E5%91%98%E4%BC%9A%E5%8F%8A%E5%AE%A1%E9%98%85%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) The Audit Committee, comprising four independent non-executive directors, has reviewed the unaudited interim condensed consolidated financial statements for the period and deemed the Group's risk management and internal control systems effective - The Audit Committee comprises all **four independent non-executive directors**[81](index=81&type=chunk) - The Audit Committee has reviewed the Company's unaudited interim condensed consolidated financial statements for the period with the Company's management, and has also reviewed the effectiveness of the Group's risk management and internal control systems, deeming them effective[81](index=81&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=28&type=section&id=%E5%88%8A%E7%99%BB%E4%B8%AD%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%85%AC%E5%91%8A%E5%8F%8A%E4%B8%AD%E6%9C%9F%E6%8A%A5%E5%91%8A) The interim results announcement has been published on the HKEX and Company websites, and the interim report, containing all information required by the Listing Rules, will be issued to shareholders and published on both websites in due course - This interim results announcement is published on the HKEX website (www.hkexnews.hk) and the Company's website (www.tenpao.com)[82](index=82&type=chunk) - The interim report for the period, containing all information required by the Listing Rules, will be dispatched to shareholders and published on the respective websites of the HKEX and the Company in due course[82](index=82&type=chunk)

每经编辑｜胡玲 王晓波 V 中国8月一年、五年期贷款市场报 将公布 2 国务院新闻办公室将于8月20日上 兵准备工作有关情况举行新闻发布会 3 2025第十四届中国煤焦钢产业大 日至22日在青岛召开 4 谷歌将于8月20日举办发布会, 品牌硬件 1 隔夜市场 美股三大指数收盘涨跌不一，纳指跌1.46%，标普500指数跌0.59%，道指涨0.02%，其中，道指盘中一度创历史新高；大型科技股多数下跌，AMD跌超 5%，英伟达跌超3%，创4月21日以来最大单日跌幅；奈飞、Meta跌逾2%，特斯拉、微软、亚马逊跌超1%，苹果、谷歌小幅下跌；英特尔涨近7%，此前软 银集团宣布对英特尔进行20亿美元股权投资。中概股普跌，纳斯达克中国金龙指数跌0.9%，迅雷跌超10%，微博跌逾6%，金山云跌近5%，爱奇艺、搜狐跌 逾2%，京东、阿里巴巴、网易、百度跌超1%。 国际贵金属期货普遍收跌，COMEX黄金期货跌0.57%，报3358.90美元/盎司；COMEX白银期货跌1.84%，报37.33美元/盎司。 国际油价集体收跌，美油主力合约跌1.12%，报62.00美元/桶；布伦特原油主力合约跌0.95%，报65.97美元/桶。 欧洲 ...