盈汇企业控股(02195)发布公告，董事会建议实施股份合并，基准为每十股已发行的现有股份合并为一 股合并股份。于本公布日期，已配发及发行的现有股份数目为14.1亿股。股份合并生效后，假设自本公 布日期至股份合并生效日期间不再发行或购回任何现有股份，则已发行的合并股份将不超过1.41亿股。 于本公布日期，现有股份于联交所买卖的每手买卖单位为5000股现有股份。现建议将股份于联交所买卖 的每手买卖单位由5000股现有股份更改为10000股合并股份，惟须待股份合并生效后方可作实。 ...

根据于公布日期联交所所报每股现有股份收市价0.061港元计算，假设股份合并已告生效，每手买卖单 位10,000股合并股份之理论价值将为6,100港元(基于每股合并股份理论收市价0.61港元计算)。 格隆汇9月10日丨盈汇企业控股(02195.HK)公布，董事会建议实施股份合并，基准为每10股已发行之现 有股份合并为1股合并股份。于公布日期，已配发及发行之现有股份数目为1,409,523,810股。股份合并 生效后，假设自公布日期至股份合并生效日期间不再发行或购回任何现有股份，则已发行之合并股份将 不超过140,952,381股。 于公布日期，现有股份于联交所买卖之每手买卖单位为5,000股现有股份。现建议将股份于联交所买卖 之每手买卖单位由5,000股现有股份更改为10,000股合并股份，惟须待股份合并生效后方可作实。 ...

Unity Enterprise Holdings Limited 盈 滙 企 業 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2195） 建議股份合併及 更改每手買賣單位 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 佈 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會對本公佈的全部 或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 本公佈僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約。 建議股份合併 董事會建議實施股份合併，基準為每十(10)股已發行之現有股份合併為一(1)股 合併股份。於本公佈日期，已配發及發行之現有股份數目為1,409,523,810股。股 份合併生效後，假設自本公佈日期至股份合併生效日期間不再發行或購回任何 現有股份，則已發行之合併股份將不超過140,952,381股。 建議更改每手買賣單位 於本公佈日期，現有股份於聯交所買賣之每手買賣單位為5,000股現有股份。現 建議將股份於聯交所買賣之每手買賣單位由5,000股現有股份更改為10,0 ...

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: 盈滙企業控股有限公司 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) | 02195 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

Core Viewpoint - Yinghui Enterprises Holdings (02195) reported a net loss of HKD 15.536 million for the six months ending June 30, 2025, which represents an 18.4% year-on-year improvement, while revenue increased by 77.3% to HKD 119 million [1] Financial Performance - Revenue for the six months reached HKD 119 million, marking a 77.3% increase compared to the previous year [1] - The net loss narrowed to HKD 15.536 million, a reduction of 18.4% year-on-year [1] - Basic loss per share was reported at HKD 0.21 [1] Business Development - The company achieved revenue growth through the acquisition of two construction companies, which expanded its project reserves and customer base [1] - The project portfolio has become more diversified, contributing to a more stable profit source from commercial and industrial projects [1] - Key revenue sources included private residential projects in Kennedy Town, a project for a large transportation company, two private residential projects in Tuen Mun, and an industrial center project in Kwai Chung [1]

Group 1 - The company, Yinghui Enterprise Holdings (02195.HK), reported a revenue increase of approximately 77.3% to about HKD 119 million for the six months ending June 30, 2025 [1] - The gross loss decreased by approximately HKD 10.4 million to about HKD 3.2 million [1] - The loss attributable to equity holders of the company was approximately HKD 15.5 million, compared to HKD 19 million in the same period last year, with a basic loss per share of approximately HKD 0.0121 [1]

Core Viewpoint - 盈汇企业控股 (02195) reported a significant increase in revenue and a reduction in net loss for the six months ending June 30, 2025, indicating a positive trend in financial performance driven by strategic acquisitions and project diversification [1] Financial Performance - Revenue reached HKD 119 million, representing a year-on-year growth of 77.3% [1] - Net loss narrowed to HKD 15.536 million, a decrease of 18.4% compared to the previous year [1] - Basic loss per share was HKD 0.21 [1] Strategic Acquisitions and Project Diversification - The company achieved revenue growth through the acquisition of two construction companies, which expanded its project reserves and client base [1] - The project portfolio has become more diversified, contributing to a more stable profit source [1] Key Projects - Revenue for the reporting period was primarily derived from several key projects, including: - A private residential project located in Kennedy Town - A project for a large transportation company - Two private residential projects in Tuen Mun - An industrial center project in Kwai Chung [1]

Interim Results Summary This summary outlines the key financial performance of Hong Dao Enterprise Holdings Limited for the six months ended June 30, 2025, showing significant revenue growth, reduced gross loss, but still a net loss, with no interim dividend declared - For the six months ended June 30, 2025, revenue increased by approximately **77.3%** to approximately **HKD 119.1 million** (2024: approximately HKD 67.2 million)[5](index=5&type=chunk) - Gross loss decreased by approximately **HKD 10.4 million** to approximately **HKD 3.2 million** (2024: approximately HKD 13.7 million)[5](index=5&type=chunk) - Loss attributable to owners of the Company was approximately **HKD 15.5 million** (2024: approximately HKD 19.0 million)[5](index=5&type=chunk) - Basic loss per share was approximately **1.21 HK cents** (2024: approximately 1.85 HK cents)[5](index=5&type=chunk) - The Board resolved not to recommend the declaration of an interim dividend for the six months ended June 30, 2025 (2024: nil)[5](index=5&type=chunk) Unaudited Condensed Consolidated Interim Statement of Profit or Loss and Other Comprehensive Income This statement presents the Group's unaudited consolidated profit or loss and other comprehensive income for the six months ended June 30, 2025, compared to the same period in 2024, detailing key financial data such as revenue, cost of services, gross loss, other income, administrative expenses, impairment losses, finance costs, and loss for the period Key Data from Statement of Profit or Loss for H1 2025 and 2024 (HKD in thousands) | Indicator | 2025 (Unaudited) | 2024 (Unaudited) | | :------------ | :---------------- | :---------------- | | Revenue | 119,135 | 67,200 | | Cost of services | (122,384) | (80,889) | | Gross loss | (3,249) | (13,689) | | Other income | 506 | 1 | | Administrative expenses | (3,875) | (3,182) | | Impairment losses on trade receivables and contract assets | (8,853) | (2,052) | | Finance costs | (73) | (50) | | Loss before income tax | (15,544) | (18,972) | | Income tax credit/(expense) | 8 | (62) | | Loss and total comprehensive expenses for the period | (15,536) | (19,034) | | Loss attributable to owners of the Company | (15,536) | (19,034) | | Basic and diluted loss per share (HK cents) | (1.21) | (1.85) | Unaudited Condensed Consolidated Interim Statement of Financial Position This statement presents the Group's unaudited consolidated financial position as of June 30, 2025, and December 31, 2024, detailing the composition and changes in non-current assets, current assets, current liabilities, non-current liabilities, and equity Key Data from Statement of Financial Position as of June 30, 2025, and December 31, 2024 (HKD in thousands) | Indicator | 2025 June 30 (Unaudited) | 2024 Dec 31 (Audited) | | :------------ | :----------------------- | :----------------------- | | **Assets** | | | | Property, plant and equipment | 1,024 | 462 | | Goodwill | 64,871 | 19,470 | | Total non-current assets | 65,895 | 19,932 | | Trade receivables | 80,991 | 127,278 | | Contract assets | 39,554 | 25,672 | | Cash and bank balances | 9,031 | 9,680 | | Total current assets | 159,999 | 196,877 | | **Liabilities** | | | | Trade payables | 39,485 | 69,891 | | Accrued liabilities and other payables | 31,510 | 24,229 | | Promissory notes | 32,310 | – | | Bank borrowings | 2,885 | 1,366 | | Total current liabilities | 107,270 | 95,897 | | Net current assets | 52,729 | 100,980 | | Total assets less current liabilities | 118,624 | 120,912 | | Lease liabilities (non-current) | 66 | – | | Deferred tax liabilities | 26 | 34 | | Total non-current liabilities | 92 | 34 | | **Equity** | | | | Share capital | 14,095 | 11,746 | | Reserves | 104,437 | 109,132 | | Total equity | 118,532 | 120,878 | Notes to the Interim Financial Statements This section provides detailed notes to the interim financial statements, covering the company's general information, accounting policies, segment reporting, specific components and changes in assets and liabilities, and significant acquisition activities [1. General Information](index=5&type=section&id=1.%20General%20Information) Hong Dao Enterprise Holdings Limited was incorporated in the Cayman Islands on March 13, 2019, and listed on the Main Board of the HKEX on March 31, 2021, primarily engaged in investment holding, with subsidiaries providing RMAA engineering services and distributing building materials in Hong Kong - The Company was incorporated in the Cayman Islands on March 13, 2019, and listed on the Main Board of the Stock Exchange of Hong Kong on March 31, 2021[9](index=9&type=chunk)[10](index=10&type=chunk) - Its principal business is investment holding, with subsidiaries primarily providing RMAA engineering services and distributing building materials in Hong Kong[10](index=10&type=chunk) - The Company's holding company and ultimate holding company is Richfield Enterprise Holdings Limited[10](index=10&type=chunk) [2. Basis of Preparation](index=5&type=section&id=2.%20Basis%20of%20Preparation) The unaudited condensed consolidated interim financial statements are prepared in accordance with HKAS 34 and Appendix 16 of the Listing Rules, to be read with the Group's annual financial statements for the year ended December 31, 2024, with consistent accounting policies and reviewed by the audit committee - The interim financial statements are prepared in accordance with Hong Kong Accounting Standard 34 and Appendix 16 of the Listing Rules issued by the Hong Kong Institute of Certified Public Accountants[11](index=11&type=chunk) - The accounting policies adopted are consistent with those applied in the Group's annual financial statements for the year ended December 31, 2024, except for the adoption of revised HKFRSs as disclosed in note 3[12](index=12&type=chunk) - The financial statements are presented in Hong Kong Dollars, with all values rounded to the nearest thousand, and have not been audited or reviewed by the Company's external auditor, but have been reviewed by the Company's audit committee[12](index=12&type=chunk) [3. Adoption of Hong Kong Financial Reporting Standards](index=6&type=section&id=3.%20Adoption%20of%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group first applied new and revised HKFRSs, including HKAS 21 (Amendment) "Lack of Exchangeability," effective January 1, 2025, during this interim period, with no significant impact on its financial position or performance - During the current interim period, the Group has first applied the new and revised HKFRSs that are mandatorily effective for the Group's annual period beginning on January 1, 2025, for the preparation of the condensed consolidated financial statements[14](index=14&type=chunk) - The application of the new and revised HKFRSs has had no material impact on the Group's financial positions and performance for the current and prior periods and/or the disclosures set out in these condensed consolidated financial statements[14](index=14&type=chunk) [4. HKFRSs Issued But Not Yet Effective](index=6&type=section&id=4.%20HKFRSs%20Issued%20But%20Not%20Yet%20Effective) The Group has not early adopted any issued but not yet effective standards, interpretations, or amendments, and their adoption is not expected to have a significant impact on the condensed consolidated interim financial statements - The Group has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective[15](index=15&type=chunk) - The Group is currently assessing the expected impact of these developments in the period of initial application, and to date, it has concluded that the adoption of these amendments is unlikely to have a significant impact on the Group's condensed consolidated interim financial statements[16](index=16&type=chunk) [5. Operating Segment Information](index=7&type=section&id=5.%20Operating%20Segment%20Information) The Group's revenue and non-current assets are solely derived from and located in Hong Kong, indicating a single geographical operating segment, with changes in revenue contributions from major customers during the reporting period - The Group's revenue is solely generated from Hong Kong, and its non-current assets are also located in Hong Kong[18](index=18&type=chunk) Major Customer Revenue Contribution (HKD in thousands) | Customer | H1 2025 | H1 2024 | | :--- | :----------- | :----------- | | Customer A | 40,024 | 29,829 | | Customer B | 29,858 | 30,561 | | Customer C | N/A* | 24,108 | | Customer D | N/A* | 17,696 | *Corresponding revenue contribution to the Group's total revenue did not exceed 10% [6. Revenue and Segment Information](index=8&type=section&id=6.%20Revenue%20and%20Segment%20Information) The Group's revenue primarily stems from RMAA engineering services and building material distribution, expanded by the acquisition of Shun Tat Construction Engineering Limited in January 2025, with revenue recognition varying by business nature - Revenue represents the fair value of amounts received and receivable from the Group's provision of RMAA works and distribution of building materials to customers[20](index=20&type=chunk) - In January 2025, the Group acquired 100% equity interest in Shun Tat Construction Engineering Limited, which is principally engaged in providing contracting services for RMAA works in Hong Kong[20](index=20&type=chunk) Revenue Breakdown (HKD in thousands) | Revenue Source | H1 2025 | H1 2024 | | :------- | :----------- | :----------- | | RMAA works | 118,251 | 65,958 | | Distribution of building materials | 884 | 1,242 | | **Total** | **119,135** | **67,200** | | **Type of contract nature** | | | | Main contractor | 48,400 | 32,248 | | Sub-contractor | 69,851 | 33,710 | | **Type of development** | | | | Residential | 77,495 | 51,221 | | Commercial and industrial | 38,539 | 11,911 | | Institutional | 2,217 | 2,826 | - Revenue from contracts with customers is generated from RMAA works provided in Hong Kong under long-term contracts and recognized over time during the reporting period, while revenue from the distribution of building materials is recognized when control of the goods is transferred[21](index=21&type=chunk)[22](index=22&type=chunk) [7. Other Income](index=9&type=section&id=7.%20Other%20Income) The Group's other income significantly increased to approximately HKD 0.5 million in H1 2025 from HKD 1,000 in the prior year, mainly due to non-operating service income from providing seepage and investigation testing services to related parties Other Income (HKD in thousands) | Income Source | H1 2025 | H1 2024 | | :------- | :----------- | :----------- | | Bank interest income | 6 | 1 | | Non-operating service income | 500 | – | | **Total** | **506** | **1** | - Non-operating service income represents income charged by the Company for providing seepage and investigation testing services to companies owned by the Company's associates[23](index=23&type=chunk) [8. Finance Costs](index=9&type=section&id=8.%20Finance%20Costs) The Group's finance costs increased from HKD 50,000 in the prior year to HKD 73,000 in H1 2025, primarily due to higher interest on bank borrowings Finance Costs (HKD in thousands) | Cost Source | H1 2025 | H1 2024 | | :------- | :----------- | :----------- | | Interest on bank borrowings | 56 | 45 | | Interest on lease liabilities | 17 | 5 | | **Total** | **73** | **50** | [9. Loss Before Income Tax](index=9&type=section&id=9.%20Loss%20Before%20Income%20Tax) This section details expenses deducted in calculating loss before income tax, including total employee benefit expenses and depreciation of property, plant, and equipment, with employee benefits forming a significant portion of service costs Loss Before Income Tax Components (HKD in thousands) | Item | H1 2025 | H1 2024 | | :--- | :----------- | :----------- | | Total employee benefit expenses | 3,637 | 3,043 | | Depreciation of property, plant and equipment | 307 | 144 | - Employee benefit expenses included in cost of services for the six months ended June 30, 2025, were approximately **HKD 2,306,000** (2024: approximately HKD 1,996,000)[25](index=25&type=chunk) [10. Income Tax Credit/(Expense)](index=10&type=section&id=10.%20Income%20Tax%20Credit%2F(Expense)) The Group is exempt from income tax in the Cayman Islands and BVI, while Hong Kong profits tax uses a two-tiered system; this period saw a shift from tax expense to credit due to deferred tax liability changes - The Group is not subject to income tax in the Cayman Islands and the British Virgin Islands[26](index=26&type=chunk) - Hong Kong profits tax is provided at a rate of **8.25%** on the first **HKD 2 million** of estimated assessable profits and **16.5%** on estimated assessable profits exceeding **HKD 2 million**[26](index=26&type=chunk) - Income tax changed from an expense of approximately **HKD 62,000** in 2024 to a credit of approximately **HKD 8,000** in 2025, due to changes in deferred tax liabilities[69](index=69&type=chunk) [11. Dividends](index=10&type=section&id=11.%20Dividends) The Board has resolved not to recommend the declaration of an interim dividend for the six months ended June 30, 2025, and 2024 - The Board has resolved not to recommend the declaration of an interim dividend for the six months ended June 30, 2025, and 2024[27](index=27&type=chunk) [12. Loss Per Share](index=10&type=section&id=12.%20Loss%20Per%20Share) Basic and diluted loss per share are calculated based on the loss attributable to owners of the Company and the weighted average number of ordinary shares Loss Per Share Calculation Data | Item | H1 2025 | H1 2024 | | :--- | :----------- | :----------- | | Loss attributable to owners of the Company (HKD in thousands) | 15,536 | 19,034 | | Weighted average number of ordinary shares | 1,285,949,000 | 1,029,180,000 | - For the six months ended June 30, 2025, basic loss per share was approximately **1.21 HK cents** (2024: approximately 1.85 HK cents)[5](index=5&type=chunk) [13. Property, Plant and Equipment](index=10&type=section&id=13.%20Property,%20Plant%20and%20Equipment) For the six months ended June 30, 2025, the Group's capital expenditure was approximately HKD 15,000, primarily for office equipment, a significant decrease from HKD 0.1 million in the prior year - For the six months ended June 30, 2025, the Group incurred capital expenditure of approximately **HKD 15,000** (2024: approximately HKD 0.1 million) for the acquisition of office equipment[30](index=30&type=chunk) [14. Goodwill](index=10&type=section&id=14.%20Goodwill) The Group's goodwill significantly increased due to the acquisition of Shun Tat (approximately HKD 45.4 million) in January 2025 and Brave Group (HKD 19.47 million) in April 2024, with no impairment loss recognized after management's recoverability assessment - In January 2025, the Group acquired 100% equity interest in Shun Tat, resulting in goodwill of approximately **HKD 45,401,000**[33](index=33&type=chunk) - On April 30, 2024, the Group acquired 100% equity interest in Brave Group, resulting in goodwill of **HKD 19,470,000**[34](index=34&type=chunk) - Management assessed the recoverable amount of the cash-generating units based on value-in-use calculations and did not recognize any impairment loss[35](index=35&type=chunk) [15. Trade Receivables](index=11&type=section&id=15.%20Trade%20Receivables) As of June 30, 2025, net trade receivables decreased to HKD 80.991 million from HKD 127.278 million on December 31, 2024, with a credit period of 30 to 45 days and a significant portion aged over one year Trade Receivables (HKD in thousands) | Item | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Trade receivables, gross | 118,653 | 161,018 | | Less: Loss allowance recognized | (37,662) | (33,740) | | **Net** | **80,991** | **127,278** | - The credit period for trade receivables is **30 to 45 days** from the invoice date[36](index=36&type=chunk) Ageing Analysis of Trade Receivables (HKD in thousands) | Ageing | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Within 1 month | 11,917 | 30,135 | | 1 to 3 months | 4,128 | 359 | | Over 3 months, within 1 year | 2,078 | 30,091 | | Over 1 year | 62,868 | 66,693 | [16. Contract Assets](index=12&type=section&id=16.%20Contract%20Assets) As of June 30, 2025, net contract assets increased to HKD 39.554 million from HKD 25.672 million on December 31, 2024, with approximately HKD 19.126 million expected to be recovered after one year Contract Assets (HKD in thousands) | Item | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Retention receivables | 48,987 | 29,646 | | Less: Loss allowance for credit losses | (9,433) | (3,974) | | **Net** | **39,554** | **25,672** | - As of June 30, 2025, the amount of contract assets expected to be recovered after one year was approximately **HKD 19,126,000** (December 31, 2024: approximately HKD 13,404,000)[38](index=38&type=chunk) [17. Deposits, Prepayments and Other Receivables](index=12&type=section&id=17.%20Deposits,%20Prepayments%20and%20Other%20Receivables) As of June 30, 2025, total deposits, prepayments, and other receivables decreased to HKD 28.864 million from HKD 33.138 million on December 31, 2024, with all amounts neither overdue nor impaired Deposits, Prepayments and Other Receivables (HKD in thousands) | Item | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Rental, utilities and sundry deposits | 2,931 | 2,597 | | Prepaid construction costs | 23,131 | 27,782 | | Other prepayments | 259 | 192 | | Other receivables | 2,543 | 2,567 | | **Total** | **28,864** | **33,138** | - None of the above deposits and other receivables were overdue or impaired[39](index=39&type=chunk) [18. Trade Payables](index=13&type=section&id=18.%20Trade%20Payables) As of June 30, 2025, trade payables decreased to HKD 39.485 million from HKD 69.891 million on December 31, 2024, with a credit period of 30 days and a higher proportion of amounts aged over three months Trade Payables (HKD in thousands) | Item | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Trade payables | 39,485 | 69,891 | - The credit period for trade payables is **30 days** from the invoice date[40](index=40&type=chunk) Ageing Analysis of Trade Payables (HKD in thousands) | Ageing | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Within 1 month | 9,202 | 19,859 | | 1 to 3 months | 62 | 9,100 | | Over 3 months | 30,221 | 40,932 | | **Total** | **39,485** | **69,891** | [19. Accrued Liabilities and Other Payables](index=13&type=section&id=19.%20Accrued%20Liabilities%20and%20Other%20Payables) As of June 30, 2025, total accrued liabilities and other payables increased to HKD 31.512 million from HKD 24.229 million on December 31, 2024, with a portion of retention payables expected to be settled after one year Accrued Liabilities and Other Payables (HKD in thousands) | Item | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Retention payables | 11,451 | 8,823 | | Other payables and accrued charges | 5,394 | 3,121 | | Accrued contract costs | 14,667 | 12,285 | | **Total** | **31,512** | **24,229** | - As of June 30, 2025, retention payables expected to be settled after one year amounted to approximately **HKD 6,362,000** (December 31, 2024: approximately HKD 5,738,000)[41](index=41&type=chunk) [20. Promissory Notes](index=13&type=section&id=20.%20Promissory%20Notes) The Group issued approximately HKD 32.3 million in promissory notes in January 2025 as partial consideration for the acquisition of Shun Tat's equity, which are transferable, interest-free, and due two years after issuance, with no principal repaid as of June 30, 2025 - In January 2025, the Group issued promissory notes with a fair value of approximately **HKD 32.3 million** in Hong Kong as partial consideration for the acquisition of Shun Tat's equity[42](index=42&type=chunk) - The promissory notes are transferable, mature two years after issuance, and bear no interest[42](index=42&type=chunk) - For the six months ended June 30, 2025, the Group did not repay any principal[42](index=42&type=chunk) [21. Share Capital](index=14&type=section&id=21.%20Share%20Capital) The company's issued share capital increased due to acquisition activities, with a total of 1,409,523,810 ordinary shares issued and total shareholders' funds of approximately HKD 14.095 million as of June 30, 2025 - In January 2025, the Company issued **234,920,635** ordinary shares as partial consideration for the acquisition of Shun Tat[43](index=43&type=chunk) - As of June 30, 2025, the Company had **1,409,523,810** ordinary shares in issue, and the Group's total shareholders' funds amounted to approximately **HKD 14,095,000**[43](index=43&type=chunk) - On April 30, 2024, the Company issued **174,603,175** new ordinary shares as consideration for the acquisition of the entire equity interest in Brave Group[43](index=43&type=chunk) [22. Acquisition of Subsidiaries](index=14&type=section&id=22.%20Acquisition%20of%20Subsidiaries) This section details two significant subsidiary acquisitions: Shun Tat in January 2025 and Brave Group in April 2024, including consideration, acquired assets and liabilities, goodwill generated, and their impact on the Group's performance [For the Six Months Ended June 30, 2025](index=14&type=section&id=For%20the%20Six%20Months%20Ended%20June%2030,%202025) The Group acquired 100% equity of Shun Tat in January 2025 for HKD 45.7 million, paid via shares and promissory notes, generating HKD 45.401 million in goodwill, contributing approximately HKD 21.7 million in revenue but incurring a loss of HKD 1.8 million - In January 2025, the Group acquired **100%** equity interest in Shun Tat, which is principally engaged in construction business in Hong Kong[44](index=44&type=chunk) - The consideration transferred was **HKD 45,700,000**, settled by the issue of **234,920,635** ordinary shares and promissory notes of approximately **HKD 32.3 million**[45](index=45&type=chunk) - The acquisition resulted in goodwill of approximately **HKD 45,401,000**, primarily due to the assembled workforce and certain potential customer contracts[47](index=47&type=chunk) - Acquisition-related costs of approximately **HKD 0.8 million** were excluded from the consideration transferred and recognized as an expense in administrative expenses[45](index=45&type=chunk) - Loss for the period included approximately **HKD 1.8 million** from Shun Tat's additional business, and revenue for the period included approximately **HKD 21.7 million** from Shun Tat[50](index=50&type=chunk) [For the Six Months Ended June 30, 2024](index=16&type=section&id=For%20the%20Six%20Months%20Ended%20June%2030,%202024) The Group acquired 100% equity of Brave Group on April 30, 2024, for HKD 22 million, paid via shares, generating HKD 19.47 million in goodwill, contributing approximately HKD 1.2 million in revenue but incurring a loss of HKD 0.1 million - On April 30, 2024, the Group acquired **100%** equity interest in Brave Group, which is principally engaged in providing contracting services for RMAA works and distributing building materials in Hong Kong[51](index=51&type=chunk) - The consideration transferred was **HKD 22,000,000**, settled by the issue of **174,603,175** ordinary shares[52](index=52&type=chunk)[55](index=55&type=chunk) - The acquisition resulted in goodwill of **HKD 19,470,000**, primarily due to the assembled workforce and certain potential customer contracts[56](index=56&type=chunk) - Acquisition-related costs of approximately **HKD 0.3 million** were excluded from the consideration transferred and recognized as an expense in administrative expenses during the period[52](index=52&type=chunk) - Loss for the period included approximately **HKD 0.1 million** from Brave Group's additional business, and revenue for the period included approximately **HKD 1.2 million** from Brave Group[58](index=58&type=chunk) Management Discussion and Analysis This section provides a comprehensive review and analysis by management of the Group's business operations, future strategies, detailed financial performance, liquidity, capital structure, and other relevant company information [Business Review](index=18&type=section&id=Business%20Review) As an RMAA engineering contractor in Hong Kong, the Group's revenue grew significantly by 77.3% to HKD 119.1 million for the six months ended June 30, 2025, primarily due to two construction company acquisitions, with improved gross loss margin and a diversified project portfolio - The Group is a contractor specializing in repair, maintenance, alteration, and addition (RMAA) works in Hong Kong[59](index=59&type=chunk) - Revenue increased by approximately **HKD 51.9 million** or **77.3%** to approximately **HKD 119.1 million**, mainly achieved through the acquisition of two construction companies[60](index=60&type=chunk) - The gross loss margin improved due to prudent pricing, reduced risk of cost overruns, stricter project supervision, and more stringent quality control[61](index=61&type=chunk) - As of June 30, 2025, the Group had **19 projects** on hand (December 31, 2024: 9 projects)[62](index=62&type=chunk) [Outlook](index=19&type=section&id=Outlook) The Group plans to expand its business by exploring potential M&A opportunities to integrate resources, expertise, and project portfolios, thereby enhancing operational efficiency, market coverage, and technical capabilities, creating greater value for customers, and achieving sustainable growth - The Group's strategy is to explore potential opportunities for mergers and acquisitions of other construction companies to expand its business[63](index=63&type=chunk) - Through this expansion strategy, the Group can integrate resources, expertise, and project portfolios, thereby providing more efficient and comprehensive services[63](index=63&type=chunk) - These integrations also expand the Group's market coverage and technical capabilities, enabling it to undertake larger and more complex projects[63](index=63&type=chunk) [Financial Review](index=19&type=section&id=Financial%20Review) This section provides a detailed review of the Group's financial performance, including changes in revenue, gross loss and gross loss margin, other income, administrative expenses, finance costs, income tax, and total loss and comprehensive expenses, along with their main drivers [Revenue](index=19&type=section&id=Revenue) For the six months ended June 30, 2025, the Group's unaudited consolidated revenue was approximately HKD 119.1 million, a 77.3% increase from the prior year, mainly due to contract contributions from acquired Brave Group and Shun Tat - For the six months ended June 30, 2025, the Group's unaudited consolidated revenue was approximately **HKD 119.1 million** (2024: approximately HKD 67.2 million), an increase of approximately **77.3%**[64](index=64&type=chunk) - The increase in revenue was mainly due to revenue contributions from existing contracts of the acquired Brave Group and Shun Tat[64](index=64&type=chunk) [Gross Loss and Gross Loss Margin](index=19&type=section&id=Gross%20Loss%20and%20Gross%20Loss%20Margin) For the six months ended June 30, 2025, gross loss decreased to approximately HKD 3.2 million (2024: HKD 13.7 million), with the gross loss margin improving to approximately 2.7% (2024: 20.4%), reflecting prudent pricing despite project delays and cost overruns - Gross loss was approximately **HKD 3.2 million** (2024: approximately HKD 13.7 million), and the gross loss margin was approximately **2.7%** (2024: approximately 20.4%)[65](index=65&type=chunk) - The gross loss was due to delays and cost overruns in existing construction projects, but the gross loss margin improved[65](index=65&type=chunk) [Other Income](index=19&type=section&id=Other%20Income) For the six months ended June 30, 2025, other income significantly increased to approximately HKD 0.5 million (2024: HKD 1,000), primarily comprising bank interest income and non-operating service income from related parties - Other income was approximately **HKD 0.5 million** (2024: approximately HKD 1,000)[66](index=66&type=chunk) - It mainly included bank interest income of approximately **HKD 6,000** and non-operating service income of approximately **HKD 0.5 million** from providing seepage and investigation testing services[66](index=66&type=chunk) [Administrative Expenses](index=20&type=section&id=Administrative%20Expenses) Administrative expenses increased by 21.8% to approximately HKD 3.9 million in H1 2025 from HKD 3.2 million in the prior year, mainly due to increased overheads from the Group's expansion through acquisitions - Administrative expenses increased from approximately **HKD 3.2 million** to approximately **HKD 3.9 million**, an increase of approximately **HKD 0.7 million** or **21.8%**[67](index=67&type=chunk) - The increase was mainly due to the expansion of the Group's scale through acquisitions, leading to increased overheads[67](index=67&type=chunk) [Finance Costs](index=20&type=section&id=Finance%20Costs) For the six months ended June 30, 2025, the Group's finance costs increased to approximately HKD 73,000 from HKD 50,000 in the prior year, primarily due to higher interest on bank borrowings - The Group's finance costs were approximately **HKD 73,000** (2024: approximately HKD 50,000)[68](index=68&type=chunk) - The increase in finance costs was due to higher interest on bank borrowings[68](index=68&type=chunk) [Income Tax Credit/(Expense)](index=20&type=section&id=Income%20Tax%20Credit%2F(Expense)) Income tax shifted from an expense of approximately HKD 62,000 in the prior year to a credit of approximately HKD 8,000 in the current period, primarily due to changes in deferred tax liabilities - Income tax changed from an expense of approximately **HKD 62,000** in the prior period of 2024 to a credit of approximately **HKD 8,000** in the current period of 2025[69](index=69&type=chunk) - The change was due to changes in deferred tax liabilities[69](index=69&type=chunk) [Loss and Total Comprehensive Expenses for the Period](index=20&type=section&id=Loss%20and%20Total%20Comprehensive%20Expenses%20for%20the%20Period) Loss and total comprehensive expenses for the period decreased by 18.4% to approximately HKD 15.5 million (2024: HKD 19.0 million), mainly due to improved gross loss margin, partially offset by increased impairment losses on trade receivables and contract assets, with net loss margin improving from 28.3% to 13.0% - Loss and total comprehensive expenses for the period decreased from approximately **HKD 19.0 million** to approximately **HKD 15.5 million**, a decrease of approximately **HKD 3.5 million** or **18.4%**[70](index=70&type=chunk) - The decrease was mainly due to an improved gross loss margin, partially offset by increased impairment losses on trade receivables and contract assets[70](index=70&type=chunk) - The net loss margin for the six months ended June 30, 2025, and 2024 was approximately **13.0%** and approximately **28.3%**, respectively[70](index=70&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=21&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) The Group maintains a sound liquidity position, with primary funding sources including cash from operations, IPO proceeds, bank borrowings, and promissory notes, and a capital structure mainly comprising issued share capital and reserves, supplemented by borrowings - Liquidity needs primarily arise from working capital for business operations, with major sources being cash generated from operations, IPO proceeds, bank borrowings, and promissory notes[71](index=71&type=chunk) - As of June 30, 2025, the Group maintained a sound liquidity position, with a net current asset balance of approximately **HKD 52.7 million** (December 31, 2024: approximately HKD 101.0 million)[71](index=71&type=chunk) - Cash and bank balances were approximately **HKD 9.0 million** (December 31, 2024: approximately HKD 9.7 million)[71](index=71&type=chunk) [Bank Borrowings and Promissory Notes](index=21&type=section&id=Bank%20Borrowings%20and%20Promissory%20Notes) As of June 30, 2025, bank borrowings increased to approximately HKD 2.9 million, bearing floating interest rates, and the Group issued approximately HKD 32.3 million in unsecured, interest-free promissory notes in January 2025 for the acquisition of Shun Tat's equity - As of June 30, 2025, bank borrowings were approximately **HKD 2.9 million** (December 31, 2024: approximately HKD 1.4 million)[72](index=72&type=chunk) - In January 2025, the Group issued unsecured, interest-free promissory notes of approximately **HKD 32.3 million** for the acquisition of Shun Tat's equity[72](index=72&type=chunk) [Gearing Ratio](index=21&type=section&id=Gearing%20Ratio) As of June 30, 2025, the Group's gearing ratio significantly increased to 29.7% (December 31, 2024: 1.1%), primarily due to the issuance of promissory notes during the period - As of June 30, 2025, and December 31, 2024, the Group's gearing ratio was **29.7%** and **1.1%**, respectively[73](index=73&type=chunk) - The increase was due to the issuance of promissory notes during the six months ended June 30, 2025[73](index=73&type=chunk) [Net Debt to Equity Ratio](index=21&type=section&id=Net%20Debt%20to%20Equity%20Ratio) As of June 30, 2025, the net debt to equity ratio was approximately 22.1%, mainly due to the issuance of promissory notes during the period, compared to a net cash position recorded on December 31, 2024 - As of June 30, 2025, the net debt to equity ratio was approximately **22.1%**, due to the Group's issuance of promissory notes during the six months ended June 30, 2025[74](index=74&type=chunk) - As of December 31, 2024, a net cash position was recorded for the net debt to equity ratio[75](index=75&type=chunk) [Treasury Policy](index=22&type=section&id=Treasury%20Policy) The Group adopts a prudent financial management approach to its treasury policy, with the Board closely monitoring liquidity to ensure the capital structure of assets, liabilities, and other commitments can meet funding needs - The Group has adopted a prudent financial management approach to its treasury policy[76](index=76&type=chunk) - The Board closely monitors the Group's liquidity position to ensure that the liquidity structure of the Group's assets, liabilities, and other commitments can meet its funding needs at all times[76](index=76&type=chunk) [Capital Expenditure](index=22&type=section&id=Capital%20Expenditure) For the six months ended June 30, 2025, the Group's capital expenditure was approximately HKD 15,000, primarily for office equipment, a decrease from HKD 0.1 million in the prior year - For the six months ended June 30, 2025, the Group incurred capital expenditure of approximately **HKD 15,000** (2024: approximately HKD 0.1 million) for the acquisition of office equipment[77](index=77&type=chunk) [Contingent Liabilities](index=22&type=section&id=Contingent%20Liabilities) The Group faces multiple claims for personal injuries due to employee or subcontractor accidents in its ordinary course of business, but directors believe these are largely covered by insurance and will not materially adversely affect the Group's financial position or operations - The Group faces multiple claims for personal injuries suffered by employees or employees of the Group's subcontractors during the course of their employment[78](index=78&type=chunk) - The Directors believe that these claims are substantially covered by insurance and will not have a material adverse effect on the Group's financial position or results of operations[78](index=78&type=chunk) Performance Guarantees (HKD in thousands) | Item | 2025 June 30 | 2024 Dec 31 | | :--- | :----------- | :------------- | | Performance guarantees issued by insurance companies to guarantee completion of works | 6,613 | 6,613 | [Foreign Exchange Risk](index=22&type=section&id=Foreign%20Exchange%20Risk) The Group faces minimal foreign exchange risk as most business transactions, assets, and liabilities are denominated in Hong Kong Dollars, and no foreign exchange hedging was undertaken for the six months ended June 30, 2025 - As most of the Group's business transactions and assets and liabilities are denominated in Hong Kong Dollars, the Group faces minimal foreign exchange risk[80](index=80&type=chunk) - For the six months ended June 30, 2025, the Group did not undertake any foreign exchange hedging[80](index=80&type=chunk) [Subsequent Events](index=23&type=section&id=Subsequent%20Events) On August 6, 2025, the Company's wholly-owned subsidiary, Silver Peak Global Limited, conditionally agreed to acquire 100% equity of New Noble Construction Engineering Limited for HKD 35 million, to be settled by issuing shares and promissory notes - On August 6, 2025, Silver Peak Global Limited, a wholly-owned subsidiary of the Company, entered into a sale and purchase agreement with an independent third party to conditionally agree to acquire **100%** equity interest in New Noble Construction Engineering Limited[81](index=81&type=chunk) - The consideration is **HKD 35,000,000**, to be settled by the Company allotting and issuing **281,904,762** shares at an issue price of **HKD 0.0385** per share to the vendor and by the Company and the purchaser issuing promissory notes with a principal amount of **HKD 24,146,666.66**[81](index=81&type=chunk) [Material Investments, Acquisitions and Disposals](index=23&type=section&id=Material%20Investments,%20Acquisitions%20and%20Disposals) The Group completed the acquisition of Shun Tat in January 2025 for HKD 45.7 million, paid via shares and promissory notes, with no other material acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2025 - In January 2025, the Company completed the acquisition of Shun Tat by issuing **234,920,635** consideration shares and promissory notes to the vendor[84](index=84&type=chunk) - The acquisition consideration was **HKD 45,700,000**, and Shun Tat is principally engaged in construction business[84](index=84&type=chunk) - There were no other material acquisitions or disposals of subsidiaries, associates, and joint ventures during the six months ended June 30, 2025[85](index=85&type=chunk) [Employees and Remuneration Policy](index=24&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had 18 employees in Hong Kong, with remuneration packages including salaries and bonuses determined by qualifications, position, rank, and annual performance, while directors' remuneration is set by the Board based on committee recommendations and market data - As of June 30, 2025, the Group had **18** employees directly employed by the Group and located in Hong Kong[86](index=86&type=chunk) - The remuneration package offered by the Group to its employees includes salaries and bonuses, with employee remuneration considered based on their respective qualifications, positions, and ranks[86](index=86&type=chunk) - Directors' remuneration is determined by the Board based on the recommendations of the Company's Remuneration Committee, taking into account the Group's operating results, individual performance, and comparable market statistics[86](index=86&type=chunk) [Dividends](index=24&type=section&id=Dividends) The Board has resolved not to recommend the declaration of an interim dividend for the six months ended June 30, 2025, and 2024 - The Board has resolved not to recommend the declaration of an interim dividend for the six months ended June 30, 2025, and 2024[87](index=87&type=chunk) [Future Plans for Material Investments and Capital Assets](index=24&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) As of June 30, 2025, the Group had no other future plans for material investments and capital assets - As of June 30, 2025, the Group had no other plans for material investments and capital assets[88](index=88&type=chunk) [Use of Proceeds](index=24&type=section&id=Use%20of%20Proceeds) The net proceeds from the IPO, approximately HKD 90.7 million, have been fully utilized as per the prospectus and subsequent announcements, primarily for upgrading construction equipment, meeting working capital needs, and strengthening manpower - The total amount of proceeds from the listing was **HKD 140 million**, and the net proceeds from the listing were approximately **HKD 90.7 million**[89](index=89&type=chunk) Use of Net Proceeds (HKD in ten thousands) | Purpose | Amount Utilized as of 2025 June 30 | Unutilized Net Proceeds | | :--- | :----------------------- | :----------------- | | Upgrading construction equipment and enhancing safety measures by providing metal scaffolding systems | – | – | | Meeting working capital needs and settling certain upfront costs and expenses | 83.2 | – | | Further strengthening our workforce | 7.5 | – | | **Total** | **90.7** | **–** | - The net proceeds have been used in a manner consistent with that stated in the prospectus and subsequent announcements[90](index=90&type=chunk) Corporate Governance and Other Information This section outlines the Group's corporate governance practices, including compliance with the Corporate Governance Code, the Model Code for Securities Transactions by Directors, and review of competitive interests, along with the audit committee's review of interim financial results and publication of the interim report [Corporate Governance](index=26&type=section&id=Corporate%20Governance) The Company has adopted the Corporate Governance Code, and despite Mr. Chan Leung holding both Chairman and CEO roles, the Board believes this structure, with high director independence and Mr. Chan's experience, enhances business strategy execution and operational efficiency without compromising power balance - The Company has adopted the Corporate Governance Code as set out in Appendix C1 to the Listing Rules[91](index=91&type=chunk) - Mr. Chan Leung holds both the positions of Chairman and Chief Executive Officer of the Company, which deviates from code provision C.2.1 of the Corporate Governance Code[91](index=91&type=chunk) - The Board believes that this structure will not impair the balance of power and authority between the Board and the Company's management, and is conducive to promoting the execution of the Group's business strategies and enhancing operational efficiency[91](index=91&type=chunk) [Standard Code for Securities Transactions](index=26&type=section&id=Standard%20Code%20for%20Securities%20Transactions) The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all directors confirmed compliance for the six months ended June 30, 2025, after specific inquiries - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules[92](index=92&type=chunk) - All Directors have confirmed, following specific enquiry, that they have complied with the required standards set out in the Model Code for the six months ended June 30, 2025[92](index=92&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=26&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[93](index=93&type=chunk) [Competing Interests](index=27&type=section&id=Competing%20Interests) The controlling shareholders have confirmed compliance with the non-competition undertaking, and independent non-executive directors have reviewed and confirmed no breach of the undertaking as of June 30, 2025, and up to the announcement date - The controlling shareholders entered into a non-competition undertaking with the Company as beneficiary on March 18, 2021[94](index=94&type=chunk) - Each of the controlling shareholders has confirmed that, for the six months ended June 30, 2025, and up to the date of this announcement, they have complied with the non-competition undertaking[94](index=94&type=chunk) - The independent non-executive Directors have reviewed the compliance of each controlling shareholder with the non-competition undertaking, and as far as the independent non-executive Directors have ascertained, the controlling shareholders have not breached the undertakings made in the non-competition undertaking[94](index=94&type=chunk) [Review of Interim Financial Results by Audit Committee](index=27&type=section&id=Review%20of%20Interim%20Financial%20Results%20by%20Audit%20Committee) The unaudited interim consolidated financial information and accounting information for the six months ended June 30, 2025, were reviewed by the Audit Committee, which deemed them compliant with applicable accounting standards, Listing Rules, and adequately disclosed - The unaudited interim consolidated financial information of the Group for the six months ended June 30, 2025, and the accounting information contained in this interim results announcement have been reviewed by the Company's Audit Committee[95](index=95&type=chunk) - The Audit Committee is of the opinion that the preparation of the accounting information complies with applicable accounting standards and requirements, as well as the Listing Rules, and has been adequately disclosed[95](index=95&type=chunk) [Publication of Interim Results and Interim Report](index=27&type=section&id=Publication%20of%20Interim%20Results%20and%20Interim%20Report) This interim results announcement has been published on the Company's and HKEX websites, and the interim report for the six months ended June 30, 2025, will be published in due course as required by the Listing Rules - This interim results announcement is published on the Company's website www.hongdau.com.hk and the Stock Exchange's website www.hkexnews.hk[96](index=96&type=chunk) - The Company's interim report for the six months ended June 30, 2025, will be published on the Stock Exchange's website and the Company's website in due course as required by the Listing Rules[96](index=96&type=chunk) [Acknowledgements](index=27&type=section&id=Acknowledgements) The Board extends its sincere gratitude to the Group's management and all staff for their tireless efforts and dedication, and to shareholders, business partners, and other professionals for their support during the period - The Board would like to express its sincere gratitude to the Group's management and all staff for their tireless efforts and dedicated contributions, as well as to shareholders, business partners, and other professionals for their support during the period[97](index=97&type=chunk)

Core Viewpoint - The company, Yinghui Enterprise Holdings (02195.HK), will hold a board meeting on August 27, 2025, to review and approve its unaudited consolidated interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend, if any [1] Group 1 - The board meeting is scheduled for August 27, 2025 [1] - The meeting will include the review and approval of the company's interim results [1] - The company will consider the proposal for an interim dividend during the meeting [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 佈 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會對本公佈的全部 或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 Unity Enterprise Holdings Limited 盈 滙 企 業 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2195） 承董事會命 盈滙企業控股有限公司 主席 陳亮 香港，二零二五年八月十四日 於本公佈日期，董事會包括執行董事陳亮先生（ 主席及行政總裁 ），及獨立非執行 董事陳美樺小姐、麥曉峯先生及胡克平先生。 董事會召開通告 盈滙企業控股有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將於二 零二五年八月二十七日（ 星期三 ）舉行董事會會議。董事會將於會上通過議案，其 中包括省覽及批准本公司及其附屬公司截至二零二五年六月三十日止六個月之未 經審核綜合中期業績以及其刊發之事宜，並考慮建議派付中期股息（ 如有 ）。 ...