呈交日期: 2025年9月3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) | 02266 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | 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: 黎氏企業控股有限公司 本月底法定/註冊股本 ...

Core Viewpoint - The company reported a significant increase in revenue but a substantial decline in net profit for the six months ending June 30, 2025 [1] Financial Performance - Revenue reached MOP 111 million, representing a year-on-year increase of 35.9% [1] - Gross profit amounted to MOP 19.156 million, showing a year-on-year increase of 3.3% [1] - Profit attributable to owners decreased to MOP 1.092 million, reflecting a year-on-year decline of 79.3% [1] - Basic earnings per share were MOP 0.3 cents [1]

Group 1 - The company reported a revenue of 111 million Macanese Patacas for the six months ending June 30, 2025, representing a year-on-year increase of 35.9% [1] - The profit attributable to the owners of the company was 1.092 million Macanese Patacas, showing a significant year-on-year decrease of 79.3% [1] - The basic earnings per share were 0.3 Macanese Patacas [1]

Group 1 - The company reported revenue of 111 million Macanese Patacas for the six months ending June 30, 2025, representing a year-on-year increase of 35.9% [1] - The profit attributable to the owners of the company was 1.092 million Macanese Patacas, showing a year-on-year decrease of 79.3% [1] - The basic earnings per share were 0.3 Macanese Patacas [1]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The Group's revenue for the six months ended June 30, 2025, increased by 35.9% to MOP111,211 thousand, but gross profit margin declined to 17.2%, and profit attributable to owners significantly decreased by 79.3% to MOP1,092 thousand, with no interim dividend declared Financial Performance Summary | Metric | 2025 (MOP '000) | 2024 (MOP '000) | Increase / (Decrease) % | | :--- | :--- | :--- | :--- | | Revenue | 111,211 | 81,824 | 35.9% | | Gross Profit | 19,156 | 18,536 | 3.3% | | Gross Profit Margin | 17.2% | 22.7% | (5.5)% | | Profit Attributable to Owners of the Company | 1,092 | 5,281 | (79.3)% | | Earnings Per Share (MOP cents) | 0.3 | 1.3 | (76.9)% | | Equity Attributable to Owners of the Company (at period-end) | 130,145 | 129,058 | 0.8% | - The Board resolved not to declare any interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[3](index=3&type=chunk) [Interim Condensed Consolidated Financial Statements](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited interim condensed consolidated statement of profit or loss, statement of comprehensive income, and statement of financial position for the six months ended June 30, 2025, providing detailed financial performance and asset-liability status of the Group during the reporting period [Interim Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2025, Group revenue increased to MOP111,211 thousand, but gross profit only slightly rose due to a significant increase in cost of sales, with profit before tax and profit for the period both substantially declining, mainly impacted by impairment losses on financial assets and fair value changes of investment properties Interim Condensed Consolidated Statement of Profit or Loss | Metric | 2025 (MOP '000) | 2024 (MOP '000) | | :--- | :--- | :--- | | Revenue | 111,211 | 81,824 | | Cost of Sales | (92,055) | (63,288) | | Gross Profit | 19,156 | 18,536 | | Other Income, Gains and Losses, Net | 1,541 | 1,816 | | Administrative Expenses | (16,560) | (16,865) | | Impairment Losses / (Reversal of Impairment Losses) on Financial Assets and Contract Assets | (302) | 2,836 | | Fair Value Changes of Investment Properties | (2,575) | (1,133) | | Share of Profit of an Associate | 15 | 446 | | Finance Costs | (492) | (491) | | Profit Before Tax | 783 | 5,145 | | Income Tax Credit | 309 | 136 | | Profit for the Period | 1,092 | 5,281 | | Earnings Per Share (MOP cents) | 0.3 | 1.3 | [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's total comprehensive income for the period was MOP1,087 thousand, a significant decrease from MOP5,671 thousand in the prior year, primarily due to reduced profit for the period and fair value changes of equity investments shifting from gain to loss Interim Condensed Consolidated Statement of Comprehensive Income | Metric | 2025 (MOP '000) | 2024 (MOP '000) | | :--- | :--- | :--- | | Profit for the Period | 1,092 | 5,281 | | Equity Investments Designated at Fair Value Through Other Comprehensive Income: Fair Value Changes, Before Tax | (5) | 390 | | Other Comprehensive (Loss) / Income for the Period, Net of Tax | (5) | 390 | | Total Comprehensive Income for the Period | 1,087 | 5,671 | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total non-current assets increased to MOP110,938 thousand, mainly due to an increase in property, plant and equipment, while total current assets rose to MOP122,422 thousand, driven by growth in trade receivables and contract assets, but total current liabilities significantly increased to MOP100,177 thousand, leading to a decrease in net current assets, with total equity slightly increasing to MOP130,145 thousand Interim Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (MOP '000) | December 31, 2024 (MOP '000) | | :--- | :--- | :--- | | Total Non-Current Assets | 110,938 | 103,362 | | Total Current Assets | 122,422 | 113,743 | | Total Current Liabilities | 100,177 | 84,710 | | Net Current Assets | 22,245 | 29,033 | | Total Assets Less Current Liabilities | 133,183 | 132,395 | | Total Non-Current Liabilities | 3,038 | 3,337 | | Net Assets | 130,145 | 129,058 | | Total Equity | 130,145 | 129,058 | - Property, plant and equipment increased from **MOP73,527 thousand** as of December 31, 2024, to **MOP83,668 thousand** as of June 30, 2025[6](index=6&type=chunk) - Trade receivables increased from **MOP36,951 thousand** as of December 31, 2024, to **MOP39,167 thousand** as of June 30, 2025[6](index=6&type=chunk) [Notes to the Interim Condensed Consolidated Financial Information](index=6&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes to the interim condensed consolidated financial information, covering key financial details such as company and group information, basis of preparation, changes in accounting policies, operating segment information, revenue analysis, profit before tax composition, income tax, dividends, earnings per share, property plant and equipment, trade receivables, trade payables, and contingent liabilities [1 Company and Group Information](index=6&type=section&id=1%20Company%20and%20Group%20Information) Lai Si Enterprise Holding Limited was incorporated in the Cayman Islands and listed on the Main Board of the Hong Kong Stock Exchange on February 10, 2017, operating as an investment holding company with subsidiaries primarily engaged in renovation, alteration and addition works, building construction, and repair and maintenance services, mainly in Macau - The Company was incorporated on June 1, 2016, under the Companies Law of the Cayman Islands and listed on the Main Board of the Hong Kong Stock Exchange on **February 10, 2017**[8](index=8&type=chunk) - The Group is principally engaged in renovation, alteration and addition works, building construction, and repair and maintenance services[8](index=8&type=chunk) [2.1 Basis of Preparation](index=6&type=section&id=2.1%20Basis%20of%20Preparation) The interim condensed consolidated financial information has been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" and should be read in conjunction with the annual consolidated financial statements for the year ended December 31, 2024 - The interim condensed consolidated financial information has been prepared in accordance with **Hong Kong Accounting Standard 34 "Interim Financial Reporting"**[9](index=9&type=chunk) [2.2 Changes in Accounting Policies and Disclosures](index=6&type=section&id=2.2%20Changes%20in%20Accounting%20Policies%20and%20Disclosures) Revised Hong Kong Financial Reporting Standards accounting standards were first adopted during this period, primarily involving amendments to HKAS 21 regarding lack of exchangeability, which had no significant financial impact on the interim condensed consolidated financial information as all currencies in the Group's transactions are exchangeable - The Group first adopted revised Hong Kong Financial Reporting Standards accounting standards during this period, primarily the amendments to **HKAS 21 "Lack of Exchangeability"**[11](index=11&type=chunk)[12](index=12&type=chunk) - The adoption of the aforementioned revised standards had no significant financial impact on this financial information[12](index=12&type=chunk)[13](index=13&type=chunk) [3 Operating Segment Information](index=7&type=section&id=3%20Operating%20Segment%20Information) For the six months ended June 30, 2025, renovation, alteration and addition works remained the Group's primary revenue source, contributing MOP103,623 thousand with segment results of MOP17,113 thousand, while building construction revenue and results significantly increased, and repair and maintenance services recorded a loss, with high revenue concentration from the top five customers, including new major clients A, B, and C in 2025 Segment Performance | Segment | 2025 Segment Revenue (MOP '000) | 2025 Segment Results (MOP '000) | 2024 Segment Revenue (MOP '000) | 2024 Segment Results (MOP '000) | | :--- | :--- | :--- | :--- | :--- | | Renovation, Alteration and Addition Works | 103,623 | 17,113 | 76,895 | 16,899 | | Building Construction Works | 5,366 | 1,817 | 1,964 | 14 | | Repair and Maintenance Services | 2,222 | (72) | 2,965 | 1,291 | | Total | 111,211 | 18,858 | 81,824 | 18,204 | Major Customer Revenue | Major Customer | 2025 Revenue (MOP '000) | 2024 Revenue (MOP '000) | | :--- | :--- | :--- | | Customer A | 26,916 | N/A | | Customer B | 25,750 | N/A | | Customer C | 16,671 | N/A | | Customer D | 15,739 | 16,958 | | Customer E | N/A | 18,479 | [4 Revenue](index=9&type=section&id=4%20Revenue) For the six months ended June 30, 2025, the Group's total revenue was MOP111,211 thousand, a 35.9% year-on-year increase, with renovation, alteration and addition works contributing the majority of revenue and showing growth in both Macau and Hong Kong markets, and approximately 98% of revenue recognized over time Revenue by Source | Revenue Source | 2025 (MOP '000) | 2024 (MOP '000) | | :--- | :--- | :--- | | Renovation, Alteration and Addition Works | 103,623 | 76,895 | | Building Construction Works | 5,366 | 1,964 | | Repair and Maintenance Services | 2,222 | 2,965 | | **Total** | **111,211** | **81,824** | Revenue by Geographical Market | Geographical Market | 2025 Revenue (MOP '000) | 2024 Revenue (MOP '000) | | :--- | :--- | :--- | | Macau | 65,065 | 60,229 | | Hong Kong | 46,146 | 21,595 | | **Total** | **111,211** | **81,824** | - Revenue recognized over time accounted for the vast majority of total revenue, amounting to **MOP108,989 thousand** in 2025 and **MOP78,859 thousand** in 2024[17](index=17&type=chunk)[19](index=19&type=chunk) [5 Profit Before Tax](index=10&type=section&id=5%20Profit%20Before%20Tax) For the six months ended June 30, 2025, the Group's profit before tax was MOP783 thousand, a significant decrease from MOP5,145 thousand in the prior year, primarily due to a shift from reversal of impairment losses to impairment losses on financial assets and contract assets, and increased losses from fair value changes of investment properties Components of Profit Before Tax | Item | 2025 (MOP '000) | 2024 (MOP '000) | | :--- | :--- | :--- | | Cost of Services Provided | 92,055 | 63,288 | | Depreciation of Property, Plant and Equipment | 507 | 426 | | Impairment Losses / (Reversal of Impairment Losses) on Financial Assets and Contract Assets | 302 | (2,836) | | Exchange Differences, Net | (476) | (419) | | Staff Costs (included in cost of services) | 13,544 | 13,443 | - Impairment losses on financial assets and contract assets shifted from a **MOP2,836 thousand** reversal in the prior year to a **MOP302 thousand** impairment loss in 2025[20](index=20&type=chunk) [6 Income Tax](index=11&type=section&id=6%20Income%20Tax) No income tax provision was made for the Group in Macau and Hong Kong during the current and prior periods, as taxable profits were absorbed by unused tax losses or there were tax losses available for carry forward, with income tax credit primarily arising from deferred tax - No income tax provision was made in Macau and Hong Kong due to unused tax losses or tax losses available for carry forward[21](index=21&type=chunk) Income Tax Components | Item | 2025 (MOP '000) | 2024 (MOP '000) | | :--- | :--- | :--- | | Deferred Tax Credit | (309) | (136) | [7 Dividends](index=11&type=section&id=7%20Dividends) No dividends were paid or declared by the Group for the six-month periods ended June 30, 2025, and 2024 - The Group neither paid nor declared any dividends for the six-month periods ended **June 30, 2025, and 2024**[23](index=23&type=chunk) [8 Earnings Per Share](index=11&type=section&id=8%20Earnings%20Per%20Share) For the six months ended June 30, 2025, basic earnings per share significantly decreased to MOP0.3 cents from MOP1.3 cents in the prior year, consistent with the decline in profit for the period, with no potentially dilutive ordinary shares outstanding in both periods Earnings Per Share | Metric | 2025 (MOP cents) | 2024 (MOP cents) | | :--- | :--- | :--- | | Basic and Diluted Earnings Per Share | 0.3 | 1.3 | - Profit for the period was **MOP1,092,000** (2024: **MOP5,281,000**)[25](index=25&type=chunk) - The weighted average number of ordinary shares outstanding was **400,000,000** shares, with no potentially dilutive ordinary shares outstanding[24](index=24&type=chunk)[26](index=26&type=chunk) [9 Property, Plant and Equipment](index=11&type=section&id=9%20Property%2C%20Plant%20and%20Equipment) For the six months ended June 30, 2025, the Group acquired assets at a cost of MOP10,648 thousand - The Group acquired assets at a cost of **MOP10,648 thousand** for the six months ended **June 30, 2025**[27](index=27&type=chunk) [10 Trade Receivables](index=11&type=section&id=10%20Trade%20Receivables) As of June 30, 2025, net trade receivables increased to MOP39,167 thousand, with the Group providing an average 30-day credit period and regularly reviewing recoverability, and aging analysis showing the highest proportion of receivables within one month, while receivables over one year were cleared Trade Receivables Summary | Item | June 30, 2025 (MOP '000) | December 31, 2024 (MOP '000) | | :--- | :--- | :--- | | Trade Receivables | 60,570 | 58,364 | | Impairment | (21,403) | (21,413) | | **Net** | **39,167** | **36,951** | - The Group allows an average credit period of **30 days** to its customers[29](index=29&type=chunk) Aging Analysis of Trade Receivables | Aging | June 30, 2025 (MOP '000) | December 31, 2024 (MOP '000) | | :--- | :--- | :--- | | Within 1 month | 30,821 | 24,938 | | 1 to 2 months | 2,612 | 4,869 | | 2 to 3 months | 775 | 1,024 | | 3 to 6 months | 4,356 | 3,197 | | 6 months to 1 year | 603 | 2,360 | | Over 1 year | – | 563 | [11 Trade Payables](index=12&type=section&id=11%20Trade%20Payables) As of June 30, 2025, total trade payables amounted to MOP21,773 thousand, a slight decrease from December 31, 2024, with aging analysis indicating the highest proportion of payables over three months Aging Analysis of Trade Payables | Aging | June 30, 2025 (MOP '000) | December 31, 2024 (MOP '000) | | :--- | :--- | :--- | | Within 1 month | 7,083 | 4,484 | | 1 to 2 months | 2,127 | 6,167 | | 2 to 3 months | 2,281 | 1,985 | | Over 3 months | 10,282 | 10,057 | | **Total** | **21,773** | **22,693** | [12 Contingent Liabilities](index=13&type=section&id=12%20Contingent%20Liabilities) The Group faces three contingent liabilities: the Edifício San Fong litigation and two payment disputes with a subcontractor; for the Edifício San Fong case, the Board deems an outflow of economic benefits unlikely, with the controlling shareholder committed to indemnification, and for the subcontractor disputes, one is settled and the other under appeal, with the Board also considering a significant outflow of resources unlikely, thus no provisions have been made for any of these matters - Edifício San Fong litigation: involves property damage claims of approximately **HKD48,950,000**, but expert reports indicate the collapse was not caused by the Group's construction; the Board believes an outflow of economic benefits is unlikely, and the controlling shareholder has committed to indemnification[32](index=32&type=chunk) - Payment dispute with a subcontractor (I): involves **MOP2,485,000**, with the court ruling the Group's subsidiary to repay **MOP317,000**, which has been settled; the plaintiff's lawyer has appealed, but the Board considers a significant outflow of resources unlikely[33](index=33&type=chunk)[34](index=34&type=chunk) - Payment dispute with a subcontractor (II): involves **MOP1,926,000**, with the Group's subsidiary having entered into a mediation settlement agreement with the plaintiff to pay **MOP958,000**, which has been fully settled[35](index=35&type=chunk) [Management Discussion and Analysis](index=14&type=section&id=Management%20Discussion%20and%20Analysis) This section details the Group's business overview, financial performance, corporate finance and risk management, employee and remuneration policies, market review, and future outlook; despite revenue growth, declining gross profit margin and financial asset impairment led to a significant decrease in profit for the period, while liquidity remained stable but the gearing ratio increased, and management holds a cautiously optimistic view on market prospects, anticipating challenges in Macau's construction sector and moderate growth in Hong Kong's economy [Business Overview](index=14&type=section&id=Business%20Overview) The Group primarily provides renovation, building construction, and repair and maintenance services in Macau and Hong Kong, serving clients including hotels, casinos, retailers, restaurants, and government departments; for the six months ended June 30, 2025, the total value of new renovation projects awarded was approximately MOP46.7 million, and the total value of outstanding projects was approximately MOP50.9 million, both lower than the prior year - The Group provides renovation works, building construction works, and repair and maintenance services in **Macau and Hong Kong**[36](index=36&type=chunk) - For the six months ended June 30, 2025, the total value of new renovation projects awarded was approximately **MOP46.7 million** (six months ended June 30, 2024: **MOP69.4 million**)[36](index=36&type=chunk) - As of June 30, 2025, the total value of outstanding renovation and building construction projects was approximately **MOP50.9 million** (six months ended June 30, 2024: **MOP90.0 million**)[36](index=36&type=chunk) [Financial Overview](index=15&type=section&id=Financial%20Overview) The Group's revenue for the six months ended June 30, 2025, increased by 35.9% to MOP111.2 million, primarily driven by renovation works; however, gross profit margin decreased from 22.7% to 17.2% due to reduced renovation gross profit margin and a gross loss in repair and maintenance works, leading to a 79.3% decline in profit for the period to MOP1.1 million, mainly impacted by impairment losses on financial assets and fair value losses on investment properties Revenue by Business Segment | Business Segment | 2025 Revenue (MOP '000) | 2025 Revenue Contribution (%) | 2024 Revenue (MOP '000) | 2024 Revenue Contribution (%) | | :--- | :--- | :--- | :--- | :--- | | Renovation Works | 103,623 | 93.2 | 76,895 | 94.0 | | Building Construction Works | 5,366 | 4.8 | 1,964 | 2.4 | | Repair and Maintenance Works | 2,222 | 2.0 | 2,965 | 3.6 | | **Total** | **111,211** | **100.0** | **81,824** | **100.0** | Gross Profit by Business Segment | Business Segment | 2025 Gross Profit / (Loss) (MOP '000) | 2025 Gross Profit / (Loss) Margin (%) | 2024 Gross Profit (MOP '000) | 2024 Gross Profit Margin (%) | | :--- | :--- | :--- | :--- | :--- | | Renovation Works | 17,331 | 16.7 | 17,201 | 22.4 | | Building Construction Works | 1,890 | 35.2 | 23 | 1.2 | | Repair and Maintenance Works | (65) | (2.9) | 1,312 | 44.2 | | **Total / Overall** | **19,156** | **17.2** | **18,536** | **22.7** | - Other income, gains and losses, net, decreased to **MOP1.5 million**, primarily due to reduced rental income from investment properties[41](index=41&type=chunk) - Financial assets and contract assets recorded an impairment loss of **MOP0.3 million** (six months ended June 30, 2024: **MOP2.8 million** reversal)[43](index=43&type=chunk) - Fair value loss on investment properties was approximately **MOP2.6 million**, reflecting a decrease in market value[44](index=44&type=chunk) - Profit for the period was approximately **MOP1.1 million** (six months ended June 30, 2024: **MOP5.3 million**), with earnings per share of **MOP0.3 cents** (six months ended June 30, 2024: **MOP1.3 cents**)[47](index=47&type=chunk)[48](index=48&type=chunk) [Corporate Finance and Risk Management](index=17&type=section&id=Corporate%20Finance%20and%20Risk%20Management) The Group maintains prudent financial management principles, relying primarily on internal funds and bank borrowings; net current assets decreased to MOP22.2 million, with a stable current ratio of 1.22, while the gearing ratio increased to 0.3 mainly due to higher short-term bank borrowings; the Group faces foreign exchange, interest rate, and credit risks, but management considers them controllable with monitoring measures in place, noting a high concentration of credit risk from trade receivables and contract assets from the top five customers, accounting for approximately 67.5% of the total - As of June 30, 2025, the Group had net current assets of approximately **MOP22.2 million**, a decrease of approximately **MOP6.8 million** from December 31, 2024[50](index=50&type=chunk) - As of June 30, 2025, interest-bearing bank borrowings amounted to **MOP39.0 million** (December 31, 2024: **MOP29.6 million**), with most maturing within one year[51](index=51&type=chunk) - The current ratio was **1.22** (December 31, 2024: **1.34**), and the gearing ratio was **0.3** (December 31, 2024: **0.23**), with the increase primarily due to higher short-term bank borrowings[51](index=51&type=chunk)[52](index=52&type=chunk) - As of June 30, 2025, the Group faced concentrated credit risk from trade receivables and contract assets from its top five customers, totaling approximately **MOP60.4 million**, representing about **67.5%** of the total[62](index=62&type=chunk) - The Group currently has no foreign currency or interest rate hedging policies, but management monitors risks and considers hedging when necessary[58](index=58&type=chunk)[59](index=59&type=chunk) [Employee and Remuneration Policies](index=22&type=section&id=Employee%20and%20Remuneration%20Policies) As of June 30, 2025, the Group's total full-time employees increased to 156 from December 31, 2024; remuneration is determined based on performance, experience, and industry practice, with discretionary bonuses, and total staff costs amounted to MOP24.0 million; the Company adopted a new share option scheme but has not granted any share options since listing - As of June 30, 2025, the Group had a total of **156** full-time employees (December 31, 2024: **146** employees)[64](index=64&type=chunk) - For the six months ended June 30, 2025, total staff costs (including directors' emoluments) amounted to **MOP24.0 million** (six months ended June 30, 2024: **MOP23.4 million**)[64](index=64&type=chunk) - The Company adopted a new share option scheme on **June 25, 2024**, but no share options have been granted under either the old or new share option schemes since the shares were listed[64](index=64&type=chunk)[65](index=65&type=chunk) [Market Review](index=22&type=section&id=Market%20Review) In the first half of 2025, Macau's gaming revenue and inbound tourist numbers showed stable growth, nearing pre-pandemic levels, with an increasing proportion of non-gaming revenue and diversified industry development laying the foundation for economic recovery, which is expected to bring new opportunities for the construction sector - In the first half of 2025, Macau's gaming revenue and inbound tourist numbers achieved stable growth, with tourist volume nearing pre-pandemic levels[66](index=66&type=chunk) - Large-scale concerts, international dining experiences, and themed exhibitions have become key attractions for tourists[66](index=66&type=chunk) - Diversified industry development lays the foundation for Macau's overall economic recovery and is expected to bring new opportunities for the construction sector[66](index=66&type=chunk) [Outlook](index=22&type=section&id=Outlook) In the second half of 2025, Macau's construction industry is expected to face challenges from a reduction in government and private engineering projects, despite the progress of some key public works; tourist growth may slow, and the scale of demand for renovation and fitting-out works remains to be seen; Hong Kong's economy is projected to grow moderately, driven by a rebound in private consumption, improved tourism service exports, and optimized financial conditions, which is favorable for the Group's business expansion in Hong Kong - In the second half of 2025, the Macau government will continue to adjust public construction project arrangements, with a reduction in both government and private engineering projects leading to operational difficulties for the industry[67](index=67&type=chunk) - Tourist growth in Macau's tourism industry may slow, and while casinos and hotels still demand renovation and fitting-out works, the scale and volume of this demand remain to be seen[67](index=67&type=chunk) - Hong Kong's economy is expected to achieve moderate growth in the second half of 2025, primarily driven by a rebound in private consumption, improved tourism service exports, and optimized financial conditions, which is beneficial for the Group's business expansion in Hong Kong[68](index=68&type=chunk) [Other Information](index=23&type=section&id=Other%20Information) This section covers other important information including interim dividends, securities transactions, corporate governance, and the scope of work for the audit committee and auditor; the Board resolved not to declare an interim dividend, and no listed securities were repurchased, sold, or redeemed during the reporting period; the Company consistently complied with the Corporate Governance Code and the Model Code for Securities Transactions, with the audit committee having reviewed the interim results and the auditor having reviewed the unaudited interim condensed consolidated financial information [Interim Dividend](index=23&type=section&id=Interim%20Dividend) The Board resolved not to declare any interim dividend for the six months ended June 30, 2025 - The Board resolved not to declare any interim dividend for the six months ended **June 30, 2025**[69](index=69&type=chunk) [Repurchase, Sale or Redemption of the Company's Listed Securities](index=23&type=section&id=Repurchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor any of its subsidiaries repurchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025 - Neither the Company nor any of its subsidiaries repurchased, sold, or redeemed any of the Company's listed securities during the six months ended **June 30, 2025**[70](index=70&type=chunk) [Corporate Governance Code](index=23&type=section&id=Corporate%20Governance%20Code) For the six months ended June 30, 2025, the Company consistently complied with all applicable code provisions of the Corporate Governance Code set out in Appendix 14 to the Listing Rules of the Stock Exchange - The Company has consistently complied with all applicable code provisions of the **Corporate Governance Code** set out in **Appendix 14** to the Listing Rules of the Stock Exchange[71](index=71&type=chunk) [Model Code for Securities Transactions](index=23&type=section&id=Model%20Code%20for%20Securities%20Transactions) The Company has adopted the Model Code set out in Appendix C3 of the Listing Rules as the code of conduct for securities transactions by directors and employees who may possess inside information, confirming all directors complied with the code during the reporting period - The Company has adopted the **Model Code** set out in **Appendix C3** of the Listing Rules as the code of conduct for directors' securities transactions[72](index=72&type=chunk) - All directors have confirmed their compliance with the Model Code and the code for securities transactions for the six months ended **June 30, 2025**[72](index=72&type=chunk) [Audit Committee](index=23&type=section&id=Audit%20Committee) The Board's Audit Committee, comprising three independent non-executive directors, has reviewed the accounting principles and policies adopted by the Group and the interim results announcement for the six months ended June 30, 2025 - The Audit Committee, comprising **three independent non-executive directors**, has reviewed the accounting principles and policies adopted by the Group and the interim results announcement[73](index=73&type=chunk) [Scope of Work of BDO Limited](index=24&type=section&id=Scope%20of%20Work%20of%20BDO%20Limited) The Group's auditor, BDO Limited, has reviewed the unaudited interim condensed consolidated financial information contained in this announcement in accordance with Hong Kong Standard on Review Engagements 2410, and its unmodified review report will be included in the interim report to be dispatched to shareholders later - The Group's auditor, **BDO Limited**, has reviewed the unaudited interim condensed consolidated financial information in accordance with **Hong Kong Standard on Review Engagements 2410**[74](index=74&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=24&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This interim results announcement is available on the websites of Hong Kong Exchanges and Clearing Limited and the Company, with the interim report containing all required information to be published and dispatched to shareholders later - This interim results announcement is available on the websites of **Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk)** and the **Company (www.lai-si.com)**[75](index=75&type=chunk) [Acknowledgement](index=24&type=section&id=Acknowledgement) The Board expresses its sincere gratitude for the hard work and dedication of the Group's management and all staff, as well as the support from shareholders, business partners, and other professionals - The Board expresses its sincere gratitude for the hard work and dedication of the Group's management and all staff, as well as the support from shareholders, business partners, and other professionals[76](index=76&type=chunk)

Core Viewpoint - The company,黎氏企业, anticipates a significant decline in its profit for the period ending June 30, 2025, projecting an unaudited consolidated profit attributable to shareholders of approximately 1.1 million Macanese Patacas, down from 5.3 million Macanese Patacas for the period ending June 30, 2024 [1] Group 1 - The expected profit decrease is primarily attributed to the ongoing weakness in the property market, leading to a provision for property losses amounting to 2.6 million Macanese Patacas [1] - Additionally, there is a provision of 300,000 Macanese Patacas for financial assets and contract assets, contrasting with a reversal of impairment losses of 2.8 million Macanese Patacas for the period ending June 30, 2024 [1] - Consequently, the overall profit reduction for the group is estimated at 3.1 million Macanese Patacas for the period ending June 30, 2025 [1]

Core Viewpoint - The company, Lee's Enterprises (02266.HK), anticipates a significant decline in its unaudited consolidated profit attributable to shareholders, projecting a profit of approximately MOP 1.1 million for the period ending June 30, 2025, compared to MOP 5.3 million for the period ending June 30, 2024 [1] Group 1 - The board attributes the profit decline primarily to the ongoing weakness in the property market, leading to a provision for property losses amounting to MOP 2.6 million [1] - Additionally, there is a provision for financial assets and contract assets amounting to MOP 0.3 million, whereas for the period ending June 30, 2024, there was a reversal of impairment losses amounting to MOP 2.8 million [1] - Consequently, the overall profit reduction for the group is estimated at MOP 3.1 million for the period ending June 30, 2025 [1]

（股份代號：2266） （於開曼群島註冊成立的有限公司） 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。 Lai Si Enterprise Holding Limited 黎氏企業控股有限公司 主席 盈利警告 本公告乃由黎氏企業控股有限公司Lai Si Enterprise Holding Limited（「本公司」，連 同其附屬公司統稱「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市 規則」）第13.09條及香港法例第571章證券及期貨條例第XIVA部項下之內幕消息條 文而作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及有意投資者， 根據對本集團截至2025年6月30日止期間之未經審核綜合管理賬目之初步審閱及 董事會目前可得之資料，相比於截至2024年6月30日止期間之股東應佔未經審核綜 合溢利澳門幣5.3百萬元，預期本集團將錄得股東應佔未經審核綜合溢利約澳門幣 1.1百萬元。 本公司股東及有意投資者於買賣 ...

Group 1 - The company, Lee's Pharmaceutical Holdings Limited (02266.HK), has scheduled a board meeting on August 28, 2025, to consider and approve the interim results for the six months ending June 30, 2025 [1] - The board meeting will also address the potential declaration of an interim dividend, if applicable, along with other matters [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部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。 Lai Si Enterprise Holding Limited 黎氏企業控股有限公司 代表董事會 Lai Si Enterprise Holding Limited 黎氏企業控股有限公司 主席 黎英萬 澳門，二零二五年八月十八日 （股份代號：2266） （於開曼群島註冊成立的有限公司） 董事會召開日期 黎氏企業控股有限公司 Lai Si Enterprise Holding Limited（「本公司」及其附屬公司 「本集團」）董事會（「董事會」）茲通告謹定於二零二五年八月二十八日（星期四）舉 行本公司董事會會議，以考慮及通過本集團截至二零二五年六月三十日止六個月 的中期業績，及派發中期股息（如有），以及處理其他事項。 於本公告日期，本公司執行董事為黎英萬先生、黎鳴山先生、黎盈惠女士及 張穎思女士；以及本公司獨立非執行董事為蕭永禧先生、陳玉泉先生及劉丁己博士。 ...