股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 備註： 法定股本的面值為HKD0.003(循環小數)。本公司的法定股本為HKD80,000,000.00。 FF301 致：香港交易及結算所有限公司 公司名稱: 卓爾智聯集團有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02098 | 說明 | | | | | | | | 多櫃檯證券代號 | | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 24,000,000,000 | HKD | 0.003333333333 | HKD | | 79,999,999.99 | | 增加 / 減少 (-) | | | | ...

Core Insights - The China Logistics and Purchasing Federation has officially released the tenth batch of supply chain service enterprises, with Zall Intelligent Logistics Group recognized as a 5A-level supply chain service enterprise due to its comprehensive service capabilities and innovative practices [1][3] Group 1: Company Achievements - Zall Intelligent Logistics has maintained a business philosophy focused on "Connecting Global Business, Creating Value through Service," and has built full-link service capabilities centered on the needs of the real economy [3] - The company has developed various intelligent trading platforms and smart warehousing logistics service platforms, serving over 300,000 customers with comprehensive supply chain services including trading, warehousing, logistics, finance, and cross-border trade [3][4] - Zall has received multiple accolades, including being named a "National Supply Chain Innovation and Application Demonstration Enterprise" and a "National E-commerce Demonstration Enterprise" by the Ministry of Commerce [3] Group 2: Industry Impact - The company has established modern supply chain systems across various sectors such as flowers, seafood, seasonings, automobiles, textiles, and coffee, leveraging its advantages in the Hankou North International Trade City [4] - Zall aims to achieve a total online and offline transaction volume exceeding 200 billion yuan in 2024, driven by the integration of culture, commerce, and tourism to create new consumption scenarios [4] - The company has introduced digital solutions addressing industry pain points, such as intelligent agricultural management systems and cloud factory solutions for recycled plastics, enhancing operational efficiency and promoting sustainable development [4]

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） (Stock Code 股份代號：2098) NOTIFICATION LETTER 通 知 信 函 Dear Non-registered Shareholder (Note 1) , 19 September 2025 The following document(s) of Zall Smart Commerce Group Ltd. (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.zallcn.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- • Interim Report 2025 Please provide ...

The following document(s) of Zall Smart Commerce Group Ltd. (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.zallcn.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） (Stock Code 股份代號：2098) NOTIFICATION LETTER 通知信函 Dear Shareholder(s), 19 September 2025 • Interim Report 2025 If you have not provided us with an ema ...

Company Performance - In the first half of 2025, the company achieved resilient growth amidst global supply chain transformation, ranking 160th in the Fortune China 500 list[7]. - The company achieved a revenue of RMB 24.5 billion during the reporting period, focusing on customer-centric strategies and digital innovation[25]. - The company’s platform, HSH International Inc., reported a revenue of approximately RMB 10.1 billion, with a cumulative customer base of 56,088 as of June 30, 2025[29]. - The company’s subsidiary, Zhuogang Chain, achieved a revenue of approximately RMB 7.5 billion, serving over 5,000 clients with a comprehensive supply chain service ecosystem[31]. - The company’s revenue increased by approximately 33.2% from RMB 68,276.4 million for the six months ended June 30, 2024, to RMB 90,921.5 million for the six months ended June 30, 2025[37]. - Revenue from supply chain management and trading business contributed about 99.7% of total revenue, showing a year-on-year increase of approximately 33.3% due to the expansion of business scale[38]. - The company reported a financial income of RMB (125,523,000) for the six months ended June 30, 2025, slightly higher than RMB (122,803,000) in the previous year[171]. - The company recorded a profit of RMB 97,051 thousand for the six months ended June 30, 2025, compared to a profit of RMB 49,817 thousand for the same period in 2024, representing an increase of approximately 94.5%[145]. Supply Chain and Digital Transformation - The company expanded its product matrix to over 2,500 types of raw materials, significantly increasing sales volume and revenue in various categories such as ABS, PP, and PET[8]. - The company has successfully implemented a "cloud factory" model in multiple regions, enhancing logistics efficiency and achieving same-day delivery capabilities[9]. - The company is focusing on digital trade and supply chain services, integrating AI and big data technologies to improve operational efficiency and risk management[9]. - The company has established modern supply chain systems in various sectors, including flowers, seafood, and textiles, enhancing market penetration and service capabilities[10]. - The company has launched a digital sugarcane planting management platform, utilizing AI technology for comprehensive monitoring throughout the growth cycle[9]. - The company has integrated various supply chain systems covering the entire steel industry chain, enhancing service capabilities through a multi-dimensional smart service system[9]. - The company aims to enhance operational efficiency and value along the supply chain, leveraging digital technologies such as big data and artificial intelligence[34]. Market Expansion and Customer Engagement - Hankou North has established over 30 large-scale integrated professional market clusters, including brand clothing and hotel supplies, aiming to become the largest supply chain management center in China and a leading global trade logistics platform[16]. - In the first half of 2025, Hankou North focused on upgrading its commodity market and developing a new model integrating industrial integration, experiential consumption, trade digitization, and supply chain services[16]. - The live streaming ecosystem at Hankou North has seen significant growth, with over 2,800 signed merchants and more than 200 live streaming teams, achieving over 1,000 live streaming sessions daily[11]. - Hankou North has established a "Foreign Trade Quality Live Streaming Room" and an online "Foreign Trade Special Zone," providing 24-hour electronic customs clearance and intelligent review services to help foreign trade enterprises expand into the domestic market[12]. - The live streaming e-commerce base has seen a surge in online order volume, with daily GMV reaching new highs, supported by free training programs for aspiring live streamers[21]. - Hankou North is committed to creating high-quality shopping parks, attracting over one million participants during themed events like the May Day Carnival[22]. Financial Overview - The cost of sales increased by approximately 33.5% from RMB 67,912.6 million to RMB 90,644.1 million, in line with the revenue increase[43]. - Gross profit decreased by approximately 23.8% from RMB 363.8 million to RMB 277.3 million, with the gross profit margin dropping from about 0.5% to 0.3%[44]. - Other net income decreased by approximately 65.3% from RMB 55.1 million to RMB 19.1 million, mainly due to a reduction in government subsidies and changes in fair value of forward contracts[45]. - Selling and distribution expenses increased by approximately 20.1% from RMB 122.8 million to RMB 147.6 million, primarily due to an increase in promotional expenses[46]. - The net profit for the six months ending June 30, 2025, was approximately RMB 70.0 million, an increase of approximately 71.7% compared to RMB 40.8 million for the same period last year[56]. - The company reported a net cash outflow from operating activities of RMB 1,251,654 thousand for the six months ended June 30, 2025, compared to RMB 3,411,736 thousand for the same period in 2024, showing a significant reduction of approximately 63.3%[146]. - The total equity attributable to equity shareholders of the company as of June 30, 2025, was RMB 14,016,047 thousand, up from RMB 13,951,217 thousand as of December 31, 2024, marking an increase of approximately 0.5%[145]. Employee and Governance - Employee benefit expenses for the six months ended June 30, 2025, were approximately RMB 146.4 million, compared to RMB 129.6 million for the same period in 2024, reflecting an increase of about 12.9%[71]. - The group employed a total of 1,558 full-time employees as of June 30, 2025, a decrease from 1,628 employees as of June 30, 2024[71]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with all provisions during the reporting period[127]. - The company confirms that all directors have adhered to the standard code for securities trading during the six months ending June 30, 2025[128]. Future Outlook and Strategic Plans - The company plans to further develop through internal growth or acquisitions to enhance its intelligent ecosystem and operational efficiency[32]. - The group plans to generate positive operating cash flow over the next twelve months through improved supply chain management and trade business revenue[152]. - The group plans to sell non-core businesses and assets to raise additional operating funds[152]. - The company plans to continue investing in the market through self-funding, bank loans, and other channels to enhance the Han Kou Bei International Trading Center and promote the integration of online and offline businesses[65].

Core Insights - The "2025 China Top 500 Enterprises" list was released, with 15 companies from Hubei included, marking the first appearance of Hubei Agricultural Development Group [2][4] - Among the 15 Hubei enterprises, 7 saw an increase in their rankings, and 6 companies reported revenues exceeding 100 billion yuan, with one new addition compared to 2024 [3][4] Summary by Category Company Rankings - The 15 Hubei enterprises include Dongfeng Motor Group (ranked 73), Zall Smart Group (164), Hubei Lian Investment Group (180), and others, with Hubei Agricultural Development Group making its debut at rank 449 [3][4] - Seven companies improved their rankings: Zall Smart Group, Hubei Lian Investment Group, Hubei Transportation Investment Group, Wuhan Financial Holding Group, Wentai Technology, Jin'ao Technology, and Hubei Cultural Tourism Group [4][5] Revenue Performance - The total revenue of the "2025 China Top 500 Enterprises" reached 110.15 trillion yuan, an increase from the previous year, with the entry threshold rising to 47.96 billion yuan [4][5] - Six Hubei companies reported revenues over 100 billion yuan, including Dongfeng Motor Group (369.1 billion yuan), Zall Smart Group (162.3 billion yuan), and Hubei Lian Investment Group (151.82 billion yuan) [5][6] Industry Insights - The number of companies with revenues exceeding 100 billion yuan increased to 267, with 15 companies surpassing 1 trillion yuan in revenue [4][5] - Hubei ranks 10th nationally in terms of the number of companies on the list, and first in Central China [4][5]

Core Viewpoint - Under the leadership of entrepreneur Yan Zhi, Zall Holdings has become a well-known comprehensive enterprise group, with its main businesses including trade logistics and intelligent manufacturing. The performance of its three listed companies has shown divergence in the first half of 2025, with Zall Intelligent Network performing the best, while the other two A-share companies showed weaker results [1][2]. Group 1: Company Performance - Zall Intelligent Network achieved a revenue of approximately 90.92 billion yuan, a year-on-year increase of 33.17%, and a net profit of about 97.05 million yuan, up 94.82% year-on-year [2]. - Han Commercial Group reported a revenue of approximately 513 million yuan, a year-on-year decline of 18.06%, and a net profit of about 1.62 million yuan, down 80.95% year-on-year [2]. - Huazhong CNC's revenue was approximately 554 million yuan, a year-on-year decrease of 11.91%, with a net loss of about 81.45 million yuan, although it showed a reduction in losses compared to the previous year [2][3]. Group 2: Financial Ratios - Zall Intelligent Network's total assets were 69.78 billion yuan, with total liabilities of 55.40 billion yuan, resulting in an asset-liability ratio of 79.39% [4]. - Huazhong CNC had total assets of 4.45 billion yuan and total liabilities of 2.76 billion yuan, leading to an asset-liability ratio of 62.12% [4]. - Han Commercial Group's total assets were 3.42 billion yuan, with total liabilities of 1.62 billion yuan, resulting in an asset-liability ratio of 47.4% [4]. Group 3: Business Strategies and Developments - Han Commercial Group is advancing a dual business strategy of "big health + big commerce," focusing on pharmaceuticals, medical devices, and commercial operations [5]. - Zall Intelligent Network is involved in wholesale trade, supply chain management, and logistics, with sales costs increasing from approximately 67.91 billion yuan to about 90.64 billion yuan, a growth of over 30% [5]. - Zall Holdings has been recognized in various rankings, including being listed 46th in the 2025 China Private Enterprises 500 and 160th in the 2025 Fortune China 500 [6]. Group 4: Market Capitalization - As of September 3, Huazhong CNC had a market capitalization of 5.883 billion yuan, Han Commercial Group had 2.9 billion yuan, and Zall Intelligent Network had a market capitalization of 1.612 billion Hong Kong dollars, totaling approximately 10.26 billion yuan [7].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 卓爾智聯集團有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02098 | 說明 | | | | | | | | 多櫃檯證券代號 | | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 24,000,000,000 | HKD | 0.003333333333 | HKD | | 79,999,999.99 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 24,000,000,000 | HKD | 0.00333333 ...

Group 1 - The core viewpoint of the news is that 卓尔智联 (Zall Intelligent) reported significant revenue growth and profit increase for the first half of 2025, driven by its supply chain management and trade business [1] - The company achieved a revenue of 90.921 billion RMB, representing a year-on-year increase of 33.17%, and a profit attributable to equity shareholders of 97.051 million RMB, up 94.82% year-on-year [1] - The company is focused on developing its core project, 汉口北国际贸易城 (Hankou North International Trade City), which has established a comprehensive market cluster with 30 specialized markets and various themed commercial districts [1] Group 2 - 汉口北 (Hankou North) is advancing a new model that integrates industrial integration, experiential consumption, trade digitization, supply chain services, and new foreign trade formats, aiming to create a modernized commercial circulation path [2] - The local government reports highlight the importance of 汉口北 as a key hub for integrated domestic and foreign trade, with recognition for its digital and logistical innovations in the national commodity trading market [2] - The company’s subsidiary, 深圳市中农网有限公司 (Zhongnong Network), achieved a revenue of 24.5 billion RMB, focusing on customer-centric strategies and digital innovation to enhance operational efficiency [3] Group 3 - The global sugar market experienced fluctuations, with initial price increases due to production cuts in major countries, followed by a decline as Brazilian production ramped up [3] - Zhongnong Network is enhancing its supply chain capabilities by directly connecting with quality sugar producers and optimizing customer resource structures, covering over 70% of core customer procurement needs [3] - The company has developed an online planting management platform that has effectively improved agricultural production efficiency and standardization across 2,800 acres of farmland [3]

Group 1 - The company, Zall Smart Commerce Group, reported a revenue of 90.921 billion RMB for the six months ending June 30, 2025, representing a year-on-year increase of 33.17% [1] - The net profit attributable to equity shareholders was 97.051 million RMB, a significant increase of 94.82% year-on-year, with basic earnings per share at 0.78 RMB [1] - The revenue growth was primarily driven by increased income from supply chain management and trading businesses [1] Group 2 - Hankou North is focusing on upgrading its commodity market and developing a new model that integrates industrial integration, experiential consumption, trade digitization, supply chain services, and new foreign trade formats [2] - The local government reports emphasize the importance of Hankou North as a national integrated commodity supply chain base and a core hub for the dual circulation strategy [2] - Hankou North received multiple honors at the 2025 China Commodity Trading Market Conference, including recognition as a model market for digital development and logistics supply chain innovation [2] Group 3 - The subsidiary, Zhongnong Network, achieved a revenue of 24.5 billion RMB, focusing on customer-centric strategies and digital innovation [3] - The global sugar market experienced a "rise and fall" trend, with domestic sugar prices decreasing by less than 3% due to a recovery in domestic sugar production and a decline in sugar imports [3] - Zhongnong Network is enhancing its operational model by integrating resources, deepening customer relationships, and boosting online transaction activity, with a 13% year-on-year increase in active trading customers [3]