Huisen Shares Group Limited 匯森股份集團有限公司 （於開曼群島註冊成立的有限公司） 本公告仅供参考，并不构成收购、购买或认购本公司股份或其他证券的邀请或 要约。 香港交易及结算所有限公司及香港联合交易所有限公司对本公告的内容概不负 责，对其准确性或完整性亦不发表任何声明，并明确表示概不就因本公告全部 或部分内容而产生或因倚赖该等内容而引致的任何损失承担任何责任。 (Stock Code: 2127) 以一般授權發行股份以債務資本化 在 2025 年 5 月 19 日（香港聯合交易所有交易時間結束後），本公司及其附 屬公司與認購方訂立了認購協議。根據該協議，認購方有條件同意認購，而 本公司有條件同意配發及發行合計 146,000,000 股認購股份，每股認購股份的 認購價為港幣 0.027 元。認購價的支付將透過抵銷截至認購協議簽署日期的 未償還費用，該費用總額為人民幣 3,650,000 元（約合港幣 3,942,000 元）。 在交易完成後，未償還費用將被視為已完全結清，並且認購方將豁免認購協 議簽署日至交易完成日期之間（如有）所產生的任何利息。 認購股份佔本公告日期公司已發行股 ...

Group 1 - Company borrowed 279 million RMB from Ganzhou Bank on November 22, 2023, with a loan maturity date of November 22, 2024, and has repaid 5 million RMB, leaving 274 million RMB outstanding [1] - Ganzhou Bank filed a civil lawsuit against the company on January 22, 2025, due to the unpaid loan amount of 274 million RMB, but the court returned the lawsuit on March 14, 2025, citing insufficient evidence [1] - The bank submitted supplementary materials on April 28, 2025, proposing a repayment extension, with 50 million RMB due by August 30, 2025, and the remaining 224 million RMB by December 31, 2025, with a court mediation scheduled for May 21, 2025 [1] Group 2 - Local government established a support group to assist the company in negotiating further extensions for loan repayment, and the lawsuit has not impacted the company's operations or financial status [2] - The company and its board believe the lawsuit will not affect business operations or financial conditions, and there are no other loan defaults or claims against the company [2] - The company has applied for the resumption of its shares trading on the Hong Kong Stock Exchange, with trading set to resume on May 20, 2025 [2]

Group 1 - Company borrowed 279 million RMB from Ganzhou Bank, secured by factory and equipment, with a repayment deadline of November 22, 2024, and has repaid 5 million RMB so far, leaving 274 million RMB outstanding [1] - Ganzhou Bank filed a civil lawsuit against the company on January 22, 2025, due to the unpaid loan amount of 274 million RMB, but the court returned the lawsuit on March 14, 2025, citing insufficient evidence [1] - The bank submitted supplementary materials on April 28, 2025, proposing an extended repayment schedule, with 50 million RMB due by August 30, 2025, and the remaining 224 million RMB by December 31, 2025, with a court mediation scheduled for May 21, 2025 [1] Group 2 - Local government established a support group to assist the company in negotiating an extension of the repayment period with the bank, and the lawsuit has not impacted the company's operations or financial status [2] - The company and its board believe the lawsuit will not affect business operations or financial conditions, and there are no other loan defaults or claims against the company [2] - The company has applied for the resumption of its shares trading on the stock exchange, which is set to resume on May 20, 2025 [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公司董事會宣佈，本公司已就股份恢復於聯交所買賣向聯交所作出申請，而股份將於 2025年5月 20日（星期二）上午9時正於聯交所恢復買賣。 （股份代號：2127） 跟據上市規則第 13.19 條作出披露 和 內幕消息 和恢復買賣 本公告由匯森股份集團有限公司（「本公司」）董事（各為「董事」）會 （「董事會」）依據香 港聯合交易所有限公司證券上市規則 （「上市規則」）第 13.19 條及 13.09 條及證券及期貨條 例（香港法例第 571 章）第 XIVA 部項下的內幕消息（定義見上市規則）。 2023年11月22日公司向贛州銀行借款2.79億元，抵押物為公司廠房及部分設備，貸款於2024年11月 22日到期，其中已陸續歸還500萬元，剩餘2.74億元未歸還。贛州銀行於 2025年1月22日向贛州市中 級人民法院對我司提起民事訴訟, 涉及其未能償還總額達人民幣2.74億元的贛州銀行貸款。 由於贛州銀 ...

短暫停牌 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明 ， 並 明 確 表 示 ， 概 不 對 因 本 公 告 全 部 或 任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Huisen Shares Group Limited 匯 森 股 份 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2127） 應匯森股份集團有限公司（「本公司」）之要求，本公司之股份已於 2025 年 5 月 19 日 上午 1 0 : 5 1 時正起在香港聯合交易所有限公司短暫停止買賣，以待發出有關 本公司的 內幕消息。 於本公告日期，董事會包括執行董事吳潤陸先生及曾明蘭女士；及獨立非執行董 事 劉炯先生及馮昭威先生。 承董事會命 匯森股份集團有限公司 主席 吳潤陸 香港，2025 年5月19日 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而産生 或因依賴該等內容而引致的任何損失承擔任何責任。 有關民事調解最新進展的內幕消息-經修訂 和 獨立內部監控審查的主要調查結果 本公告由匯森股份集團有限公司（「本公司」）依據香港聯合交易所有限公司證券上市規則 （「上市規則」）第 13.19 條及 13.09 條及證券及期貨條例（香港法例第 571 章）第 XIVA 部項下的內幕消息（定義見上市規則）。 謹此提述匯森股份集團有限公司（「本公司」）分別于 2024 年 11 月 8 日及 2024 年 11 月 20 日發布的公告（「該等公告」）。除非另有定義，否則本公告中使用的詞匯應與該等公告中 定義的詞匯具有相同含義。 南康發展集團提起的民事調解("南康") 2024 年 9 月 3 日，本公司首次獲悉南康發展集團提起的民事調解。該民事調解已于 2024 年 9 月 12 日由江西省贛州市南康區人民法院（"南康法院"）結案。如前所述，南康法院 已于 2024 年 9 月 18 日作出强制執行。 龍南開 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而産生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任 。 有關民事調解最新進展的內幕消息 和 獨立內部監控審查的主要調查結果 本公告由匯森股份集團有限公司（「本公司」）依據香港聯合交易所有限公司證券上市規則 （「上市規則」）第 13.19 條及 13.09 條及證券及期貨條例（香港法例第 571 章）第 XIVA 部項下的內幕消息（定義見上市規則）。 謹此提述匯森股份集團有限公司（「本公司」）分別于 2024 年 11 月 8 日及 2024 年 11 月 20 日發布的公告（「該等公告」）。除非另有定義，否則本公告中使用的詞匯應與該等公告中 定義的詞匯具有相同含義。 龍南開發公司提起的民事調解 2024 年 9 月 16 日，本公司首次獲悉龍南開發公司提起的民事調解。該民事調解已于 2024 年 10 月 18 日由江西省龍南市人民法院結案。 補救措施及內部控制審查 董事謹代表本公司，就因疏忽而延遲披露此等信息致 ...

Group 1 - The core viewpoint of the news highlights the significant decline in the financial performance of Huishen Holdings, with a reported total revenue of 1.009 billion yuan, a year-on-year decrease of 72.3%, and a net profit loss of 1.707 billion yuan, reflecting a staggering year-on-year decrease of 924.12% [1][2] - Huishen Holdings' stock price has seen a substantial drop of 38.46% over the past month and year, underperforming the Hang Seng Index, which has increased by 10.27% [1] - The company has a negative price-to-earnings ratio of -0.03, ranking 88th in the household appliances and goods industry, which has an average price-to-earnings ratio of 13.02 [2] Group 2 - Huishen Holdings is recognized as the largest panel furniture exporter in China, with a vertically integrated business model that combines product design, development, manufacturing, and sales [3] - The company focuses on original design manufacturing of panel furniture and provides comprehensive manufacturing solutions, including functional and economical furniture, soft furniture, outdoor furniture, and sports and leisure equipment [3] - As of June 30, 2020, Huishen Holdings occupied an area of approximately 330,000 square meters and employed over 3,000 people, with Walmart being one of its major clients [3]

Revenue Performance - For the twelve months ending December 31, 2024, total revenue was RMB 1,008,525,000, a decrease of 72.3% compared to RMB 3,640,712,000 for the same period in 2023[12] - The revenue from the ODM segment accounted for 92.7% of total revenue, amounting to RMB 895,734,000, down 70.3% from RMB 3,012,635,000 in the previous year[16] - The company reported a significant decline in revenue from the US market, which fell to RMB 460,776,000, representing a 79.9% decrease from RMB 2,290,770,000 in the prior year[14] - The company reported a revenue of RMB 1,008.525 million for the twelve months ended December 31, 2024, compared to RMB 3,640.712 million for the same period in 2023[48] - Revenue from external customers in the United States fell from RMB 2,290,770 thousand in 2023 to RMB 460,776 thousand in 2024, a decrease of about 80.0%[62] - Total revenue for 2024 reached RMB 1,008,525 thousand, a decrease of 72.3% compared to RMB 3,640,712 thousand in 2023[63] Profitability and Loss - The gross profit margin for the total revenue was 19.9%, down from 13.3% in the previous year, indicating a challenging cost environment[12] - The gross loss for the period was RMB 200.221 million, a significant decline from a gross profit of RMB 483.313 million in the previous year[48] - The net loss attributable to the owners of the company for the period was RMB 1,706.770 million, compared to a profit of RMB 207.103 million in the previous year[48] - The basic and diluted earnings per share for the period were RMB (46.34), a decrease from RMB 6.75 in the previous year[48] - The company reported a net loss attributable to shareholders of RMB (1,706,770) thousand for 2024, compared to a profit of RMB 207,103 thousand in 2023, marking a substantial decline in profitability[69] Cost Management - The cost of materials consumed decreased by 64.9% to RMB 921,287,000 from RMB 2,626,545,000 in the previous year[19] - The cost of goods sold recognized as expenses was RMB 1,208,746 thousand, down from RMB 3,157,399 thousand in 2023, indicating a significant reduction in inventory costs[65] - The company incurred distribution and selling expenses of RMB 286.210 million, up from RMB 73.658 million in the previous year[48] - Research and development expenses for 2024 were RMB 68,253 thousand, a decrease of 55.3% from RMB 152,602 thousand in 2023, reflecting a shift in investment strategy[65] Cash Flow and Financial Position - The operating cash flow showed a net outflow of RMB 327,360,000, compared to a net outflow of RMB 93,662,000 in the previous year, indicating increased cash usage[19] - The company reported a net cash outflow from operating activities of RMB 327,360 thousand in 2024, compared to an outflow of RMB 93,662 thousand in 2023[54] - Cash and cash equivalents decreased from RMB 463,355 thousand at the end of 2023 to RMB 5,586 thousand at the end of 2024, a decline of approximately 98.8%[57] - The total equity decreased from RMB 5,254,581 thousand in 2023 to RMB 3,622,074 thousand in 2024, a decline of approximately 30.9%[50] Assets and Liabilities - Total assets decreased from RMB 6,634,296 thousand in 2023 to RMB 4,896,335 thousand in 2024, a decline of approximately 26.2%[49] - Current assets dropped significantly from RMB 3,242,385 thousand in 2023 to RMB 1,749,156 thousand in 2024, representing a decrease of about 46.0%[49] - Inventory decreased from RMB 877,757 thousand in 2023 to RMB 527,267 thousand in 2024, a reduction of approximately 40.0%[49] - Trade receivables fell from RMB 1,526,525 thousand in 2023 to RMB 847,476 thousand in 2024, a decline of around 44.5%[49] - Non-current assets totalled RMB 3,147,179 thousand in 2024, down from RMB 3,391,911 thousand in 2023, a decrease of about 7.2%[49] - Trade payables decreased to RMB 125,018 thousand in 2024 from RMB 263,071 thousand in 2023, showing improved cash flow management[75] - The company’s bank loans due within one year decreased to RMB 645,840 thousand in 2024 from RMB 733,596 thousand in 2023, indicating a reduction in short-term debt obligations[76] Employee and Operational Metrics - As of December 31, 2024, the group had a total of 2,186 employees, down from 3,028 employees as of December 31, 2023, with total employee costs of approximately RMB 170.65 million[28] - The average number of ordinary shares outstanding increased to 3,682,908,000 in 2024 from 3,069,090,000 in 2023, indicating potential dilution of earnings per share[69] Strategic Outlook - The company plans to continue expanding its export business and seek new customers to enhance product diversification[10] - The company is optimistic about future market opportunities despite the ongoing challenges in the global economy and trade environment[9] Impairment and Financial Adjustments - As of December 31, 2024, the company's trade receivables (net of impairment) amounted to approximately RMB 847.48 million, with an impairment reversal of about RMB 0.6 million during the reporting period[21] - The company recognized a net impairment loss on trade receivables of RMB (59,126) thousand in 2024, slightly improved from RMB (59,788) thousand in 2023[73] - The group has no significant capital commitments or contingent liabilities as of December 31, 2024[23] - The group did not engage in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[25] - The group has no significant investments or capital asset acquisition plans other than those disclosed in the "Use of Proceeds" section[27] - The company issued new shares worth RMB 72,734 thousand in 2024, compared to no new shares issued in 2023[54] - The company’s interest expenses on bank and other borrowings decreased to RMB 18,673 thousand in 2024 from RMB 22,836 thousand in 2023, indicating lower financing costs[64]

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 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 吳潤陸先生（主席） 曾明蘭女士 獨立非執行董事 劉炯先生 董事名單 及其角色與職能 匯森股份集團有限公司 董 事 會（「董事會」）成 員 載 列 於下文。 執行董事 附註： 香港，2025 年 3 月 18 日 馮昭威先生 董 事 會 已 設 立 五 個 委 員 會。下 表 提 供 各 董 事 會 成 員 於 該 等 委員會所擔任 的職務 的 資料： M－相關董事委員會成員 | | 審核 | 薪酬 | 提名 | 企業管治 | 風險控制 | | --- | --- | --- | --- | --- | --- | | | 委員會 | 委員會 | p 委員會 | 委員會 | 委員會 | | 吳潤陸先生 | - | - | M | - | C | | 曾明蘭女士 | - | M | - | M | M | | 劉炯先生 | M | - | - | M | M | | 馮昭威先生 | M | M | C | - ...