京西国际(02339)发布截至2025年6月30日止6个月的中期业绩，该集团取得收入16.27亿港元，同比增加 12.42%;公司拥有人应占亏损2970.9万港元，同比减少42.42%;每股基本亏损3.45港仙。 公告称，收入增加主要是由于波兰厂房的订单数量增加所致。另一方面，位于捷克共和国的厂房受到计 划关闭的影响，取得收入减少。 ...

Core Viewpoint - Jingxi International (02339) reported a revenue of HKD 1.627 billion for the six months ending June 30, 2025, representing a year-on-year increase of 12.42% [1] - The company recorded a loss attributable to shareholders of HKD 29.709 million, which is a 42.42% reduction compared to the previous year [1] - Basic loss per share was HKD 0.0345 [1] Revenue Analysis - The increase in revenue is primarily attributed to a rise in order volume from the factory in Poland [1] - Conversely, the factory located in the Czech Republic experienced a decrease in revenue due to planned closures [1]

[Financial Statements](index=1&type=section&id=Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, reflecting the company's financial performance and position [Interim Condensed Consolidated Income Statement](index=1&type=section&id=Interim%20Condensed%20Consolidated%20Income%20Statement) For the six months ended June 30, 2025, revenue grew by 12.4%, but gross profit and interim loss expanded due to increased cost of sales and reduced R&D expenses Interim Condensed Consolidated Income Statement Summary | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Revenue | 1,627,054 | 1,447,238 | | Cost of sales | (1,478,401) | (1,225,498) | | Gross profit | 148,653 | 221,740 | | Operating loss | (13,646) | (35,937) | | Loss before tax | (20,331) | (42,431) | | Income tax expense | (9,378) | (9,163) | | Interim loss | (29,709) | (51,594) | | Loss per share attributable to ordinary equity holders of the Company (HK cents per share) | (3.45) | (8.98) | [Interim Condensed Consolidated Statement of Comprehensive Income](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, total interim comprehensive income improved significantly to HKD 35.8 million, driven by exchange gains from overseas operations Interim Condensed Consolidated Statement of Comprehensive Income Summary | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Interim loss | (29,709) | (51,594) | | Exchange differences on translation of overseas operations | 69,013 | (21,158) | | Remeasurement loss on defined benefit plans, net of income tax | (3,491) | (1,408) | | Other comprehensive income/(loss) for the period, net of income tax | 65,522 | (22,566) | | Total comprehensive income/(loss) for the period | 35,813 | (74,160) | [Interim Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets, liabilities, and equity increased, driven by higher trade receivables and shifts in non-current asset composition Interim Condensed Consolidated Statement of Financial Position Summary | Indicator | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | **ASSETS** | | | | Total non-current assets | 946,946 | 976,782 | | Total current assets | 1,149,920 | 1,055,853 | | **TOTAL ASSETS** | **2,096,866** | **2,032,635** | | **LIABILITIES** | | | | Total current liabilities | 923,061 | 903,687 | | Total non-current liabilities | 388,170 | 379,126 | | **TOTAL LIABILITIES** | **1,311,231** | **1,282,813** | | **EQUITY** | | | | Total equity | 785,635 | 749,822 | | **TOTAL EQUITY AND LIABILITIES** | **2,096,866** | **2,032,635** | [Notes to Interim Condensed Consolidated Financial Information](index=5&type=section&id=Notes%20to%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes to the interim condensed consolidated financial information, offering supplementary explanations for understanding the financial statements [1. General Information](index=5&type=section&id=1.%20General%20Information) This section covers the company's registration, business, holding structure, and significant events, including the planned closure of the Czech plant [1.1 Company and Group Information](index=5&type=section&id=1.1%20Company%20and%20Group%20Information) Registered in the Cayman Islands, the company manufactures and trades automotive parts and provides technical services, with Zhangjiakou Industrial Investment Holding Group as its ultimate holding company - The company primarily engages in the manufacturing, sales, and trading of automotive parts and components, and provides technical services[9](index=9&type=chunk) - The ultimate holding company is Zhangjiakou Industrial Investment Holding Group Co., Ltd., a state-owned enterprise established in the People's Republic of China[10](index=10&type=chunk) [1.2 Significant Events during the Reporting Period](index=5&type=section&id=1.2%20Significant%20Events%20during%20the%20Reporting%20Period) The Board resolved to close the Czech plant in Q3 2025 to enhance efficiency, incurring approximately HKD 80.44 million in one-off costs and impairment losses - The Board resolved to commence a phased closure of the Cheb plant in the Czech Republic starting in Q3 2025 to enhance overall operational efficiency[12](index=12&type=chunk) - The closure of the Czech plant is expected to incur one-off costs/expenses and impairment losses, including lease termination fees, employee severance payments, impairment of property, plant and equipment, and refund of income tax benefits[12](index=12&type=chunk) - The net impact of the closure plan recognized in the current reporting period's financial information totaled a net deduction of approximately **HKD 80.44 million**, which includes a provision for refund of income tax benefits of **HKD 6.808 million**[13](index=13&type=chunk) [2. Basis of Preparation and Summary of Accounting Policies](index=6&type=section&id=2.%20Basis%20of%20Preparation%20and%20Summary%20of%20Accounting%20Policies) This section outlines the basis of preparation for interim financial information, adhering to HKAS 34, and details adopted and future accounting standards [2.1 Basis of Preparation](index=6&type=section&id=2.1%20Basis%20of%20Preparation) Interim financial information is prepared under HKAS 34 'Interim Financial Reporting' and presented in HKD, with amounts rounded to the nearest thousand - The interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting' issued by the Hong Kong Institute of Certified Public Accountants[14](index=14&type=chunk) - The interim financial information is presented in Hong Kong Dollars, with all amounts adjusted to the nearest thousand Hong Kong Dollars[14](index=14&type=chunk) [2.2 Changes in Accounting Policies](index=6&type=section&id=2.2%20Changes%20in%20Accounting%20Policies) The Group adopted HKFRS 21 (Amendment) 'Lack of Exchangeability' from January 1, 2025, with no significant impact, while HKFRS 18 is expected to broadly affect future financial statement presentation - The Group first applied HKFRS 21 (Amendment) 'Lack of Exchangeability' from January 1, 2025, which is not expected to have a significant impact[15](index=15&type=chunk) - HKFRS 18 'Presentation and Disclosure in Financial Statements' is expected to have a pervasive impact on the presentation and disclosure of the Group's consolidated financial statements, effective January 1, 2027[16](index=16&type=chunk)[17](index=17&type=chunk) [3. Revenue and Segment Information](index=8&type=section&id=3.%20Revenue%20and%20Segment%20Information) The Group operates as a single segment, manufacturing and selling automotive parts and providing technical services, with revenue primarily from industrial product sales in Germany, UK, and US, and notable growth in mainland China [3(a) Revenue from Contracts with Customers](index=8&type=section&id=3(a)%20Revenue%20from%20Contracts%20with%20Customers) For the six months ended June 30, 2025, total revenue increased by 12.4% to HKD 1,627,054 thousand, primarily from industrial product sales, with most revenue recognized at a point in time Revenue Composition | Products and Services | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Sales of industrial products and others | 1,527,434 | 1,336,116 | | Technical service income | 99,620 | 111,122 | | **Total Revenue** | **1,627,054** | **1,447,238** | Revenue Recognition Timing | Revenue Recognition | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | At a point in time | 1,623,985 | 1,444,408 | | Over time | 3,069 | 2,830 | | **Total Revenue** | **1,627,054** | **1,447,238** | [3(b) Geographical Information](index=9&type=section&id=3(b)%20Geographical%20Information) Germany, UK, and US remain key revenue sources, with notable growth in UK and mainland China revenue, while Czech non-current assets decreased due to plant closure Revenue from External Customers (by Customer Location) | Region | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Germany | 455,294 | 472,751 | | United Kingdom | 366,093 | 239,277 | | United States | 327,707 | 338,790 | | Mainland China | 114,960 | 77,813 | | Other countries | 363,000 | 318,607 | | **Total** | **1,627,054** | **1,447,238** | Non-current Assets (by Asset Location) | Region | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Poland | 789,554 | 671,121 | | Czech Republic | 101,849 | 222,768 | | Other countries | 47,658 | 78,205 | | **Total** | **939,061** | **972,094** | [3(c) Major Customer Information](index=10&type=section&id=3(c)%20Major%20Customer%20Information) Two external customers contributed over 10% of total revenue, totaling HKD 522.51 million, a significant increase from the prior period Major Customer Revenue Contribution | Customer | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Customer A | 284,160 | 231,058 | | Customer B | 238,350 | 142,814 | | **Total** | **522,510** | **373,872** | - For the six months ended June 30, 2025, two external customers contributed over **10%** of the Group's total revenue, compared to only one in the prior year[23](index=23&type=chunk) [4. Expenses by Nature](index=10&type=section&id=4.%20Expenses%20by%20Nature) For the six months ended June 30, 2025, total expenses increased by 11.3% to HKD 1,667.3 million, driven by raw material costs and employee benefits, with HKD 73.6 million in provisions for the Czech plant closure Major Expense Components | Expense Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Cost of raw materials sold and consumed | 950,732 | 893,963 | | Employee benefit expenses | 392,276 | 289,307 | | Provisions and losses arising from planned closure of Czech plant | 73,636 | – | | Utility expenses | 56,909 | 68,039 | | Depreciation and amortisation expenses | 54,502 | 46,089 | | Research and development costs | 30,168 | 49,972 | | Research and testing expenses | 22,852 | 41,214 | | **Total** | **1,667,277** | **1,498,031** | - Provisions and losses of **HKD 73,636 thousand** arose from the planned closure of the Czech plant[24](index=24&type=chunk) [5. Other Income](index=11&type=section&id=5.%20Other%20Income) For the six months ended June 30, 2025, other income increased by 32.5% to HKD 21.6 million, driven by higher profits from selling scrap, prototypes, and samples Other Income Components | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Profit from sales of scrap, prototypes and samples | 15,696 | 12,298 | | Bank interest income | 172 | 283 | | Others | 5,741 | 3,725 | | **Total** | **21,609** | **16,306** | [6. Net Other Gains](index=11&type=section&id=6.%20Net%20Other%20Gains) For the six months ended June 30, 2025, net other gains significantly increased to HKD 11.4 million, primarily due to a substantial rise in net exchange differences Net Other Gains Components | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Net exchange differences | 12,254 | 2,409 | | Net (loss)/gain on disposal of property, plant and equipment | (848) | 1,086 | | **Total** | **11,406** | **3,495** | [7. Finance Costs](index=11&type=section&id=7.%20Finance%20Costs) For the six months ended June 30, 2025, finance costs slightly increased to HKD 6.7 million, mainly from interest on defined benefit plans and lease liabilities Finance Costs Components | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Interest on defined benefit plans | 2,400 | 2,100 | | Interest on lease liabilities | 4,285 | 4,098 | | Others | – | 296 | | **Total** | **6,685** | **6,494** | [8. Income Tax Expense](index=12&type=section&id=8.%20Income%20Tax%20Expense) For the six months ended June 30, 2025, income tax expense was HKD 9.4 million, including HKD 6.8 million in tax benefits to be refunded due to the Czech plant closure Income Tax Expense Components | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Current income tax expense | 12,560 | 36,681 | | Deferred tax | (3,182) | (27,518) | | **Total tax expense for the period** | **9,378** | **9,163** | - Current income tax expense for the six months ended June 30, 2025, includes approximately **HKD 6.808 million** in income tax benefits to be refunded due to the planned closure of the Czech plant[28](index=28&type=chunk) [9. Loss Per Share](index=12&type=section&id=9.%20Loss%20Per%20Share) For the six months ended June 30, 2025, basic and diluted loss per share narrowed to HKD 3.45 cents, driven by reduced loss and more outstanding shares Loss Per Share | Indicator | 2025 (HK cents) | 2024 (HK cents) | | :--- | :--- | :--- | | Basic and diluted loss per share | (3.45) | (8.98) | - Basic loss per share is calculated based on the loss for the period attributable to ordinary equity holders of the Company and the weighted average number of ordinary shares outstanding of **861,508,602** shares (2024: **574,339,068** shares) during the period[29](index=29&type=chunk) - Diluted loss per share is the same as basic loss per share as the Group had no potentially dilutive ordinary shares during the reporting period[29](index=29&type=chunk) [10. Dividends](index=12&type=section&id=10.%20Dividends) The Board did not declare an interim dividend for the six months ended June 30, 2025, consistent with the prior year - The Board did not declare an interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[30](index=30&type=chunk) [11. Trade Receivables - Third Parties](index=13&type=section&id=11.%20Trade%20Receivables%20-%20Third%20Parties) As of June 30, 2025, net trade receivables from third parties significantly increased to HKD 475.8 million, with most due within three months under a typical one-to-three-month credit period Trade Receivables - Third Parties | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Trade receivables | 483,460 | 291,826 | | Less: Provision for impairment losses | (7,681) | (5,144) | | **Net** | **475,779** | **286,682** | Ageing Analysis of Trade Receivables - Third Parties | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 470,593 | 284,678 | | 3 months to 1 year | 5,186 | 2,004 | | **Total** | **475,779** | **286,682** | - The credit period granted to customers is generally one to three months, and the Group seeks to strictly control its outstanding receivables and has monitoring procedures to minimize credit risk[31](index=31&type=chunk) [12. Trade Receivables - Related Parties](index=14&type=section&id=12.%20Trade%20Receivables%20-%20Related%20Parties) As of June 30, 2025, related party trade receivables decreased to HKD 225.5 million, with an increase in overdue amounts over one year, for which no collateral is held Ageing Analysis of Trade Receivables - Related Parties | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 151,825 | 196,748 | | 3 months to 1 year | 54,901 | 131,244 | | Over 1 year | 18,773 | 4,128 | | **Total** | **225,499** | **332,120** | - The Group's trade terms with its related parties are primarily on credit, and no collateral or other credit enhancements are held for its trade receivables balances from related parties[33](index=33&type=chunk) [13. Prepayments, Other Receivables and Other Assets](index=14&type=section&id=13.%20Prepayments,%20Other%20Receivables%20and%20Other%20Assets) As of June 30, 2025, total prepayments, other receivables, and other assets increased to HKD 126.4 million, mainly due to higher input VAT and prepayments Prepayments, Other Receivables and Other Assets Components | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Input VAT | 61,405 | 39,075 | | Prepayments | 19,027 | 12,755 | | Contract costs | 33,416 | 29,968 | | Deposits, other receivables and others | 12,566 | 7,295 | | **Total** | **126,414** | **89,093** | [14. Trade Payables - Third Parties](index=14&type=section&id=14.%20Trade%20Payables%20-%20Third%20Parties) As of June 30, 2025, third-party trade payables increased to HKD 498.1 million, with most settled within three months under typical 30-to-90-day terms Ageing Analysis of Trade Payables - Third Parties | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 489,527 | 387,834 | | 3 months to 1 year | 8,160 | 1,233 | | Over 1 year | 399 | 238 | | **Total** | **498,086** | **389,305** | - Trade payables are interest-free and normally settled within a term of thirty to ninety days[35](index=35&type=chunk) [15. Trade Payables - Related Parties](index=15&type=section&id=15.%20Trade%20Payables%20-%20Related%20Parties) As of June 30, 2025, related party trade payables significantly decreased to HKD 155.8 million, despite an increase in amounts overdue for over one year Ageing Analysis of Trade Payables - Related Parties | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 86,691 | 237,311 | | Over 1 year | 69,103 | 57,635 | | **Total** | **155,794** | **294,946** | [16. Contract Liabilities, Other Payables and Accrued Expenses](index=15&type=section&id=16.%20Contract%20Liabilities,%20Other%20Payables%20and%20Accrued%20Expenses) As of June 30, 2025, total contract liabilities, other payables, and accrued expenses were HKD 193.0 million, with HKD 2.5 million revenue recognized from opening contract liabilities Contract Liabilities, Other Payables and Accrued Expenses Components | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Contract liabilities | 24,456 | 58,913 | | Other payables and accrued expenses | 59,752 | 60,314 | | Other tax payables | 10,031 | 7,255 | | Accrued salaries, wages, severance payments and benefits | 79,313 | 49,687 | | Accrued price discounts | 19,455 | 13,261 | | **Total** | **193,007** | **189,430** | | Non-current portion of contract liabilities | (20,941) | (52,620) | | **Current portion** | **172,066** | **136,810** | - Revenue recognized from the opening balance of contract liabilities for the six months ended June 30, 2025, was **HKD 2.536 million**[37](index=37&type=chunk) [17. Issued Share Capital](index=16&type=section&id=17.%20Issued%20Share%20Capital) As of June 30, 2025, issued share capital was HKD 86,151 thousand, consisting of 861,508,602 ordinary shares at HKD 0.10 par value, with no changes during the period Issued Share Capital | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Authorised share capital (2,000,000,000 shares) | 200,000 | 200,000 | | Issued and fully paid share capital (861,508,602 shares) | 86,151 | 86,151 | - There were no changes in the Company's issued share capital for the six months ended June 30, 2025, and 2024[38](index=38&type=chunk) [18. Commitments](index=16&type=section&id=18.%20Commitments) As of June 30, 2025, contracted capital commitments for plant and machinery decreased to HKD 106.8 million, with no provisions made Capital Commitments | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Contracted but not provided for: plant and machinery | 106,789 | 115,842 | [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's detailed analysis of the Group's operations and financial performance, highlighting the impact of the Czech plant closure on future efficiency [Operations Review](index=17&type=section&id=Operations%20Review) The Group manufactures and trades automotive suspension products and provides technical services from European plants, maintaining long-term relationships with major European automakers and suppliers - The Group is engaged in the manufacturing, sales, and trading of automotive parts and components, with suspension products as core products, and provides technical services[42](index=42&type=chunk) - The Group operates two major plants in Poland and the Czech Republic, manufacturing and assembling suspension products for renowned European automotive manufacturers[42](index=42&type=chunk) - The Group primarily sources raw materials and components from selected European suppliers, maintaining stable relationships and not relying on any single supplier[42](index=42&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) This section analyzes the Group's financial performance, including revenue growth, declining gross profit, reduced R&D expenses, increased other income, and narrowed loss, explaining the Czech plant closure's impact [Revenue (Financial Review)](index=17&type=section&id=Revenue%20(Financial%20Review)) For the period ended June 30, 2025, total revenue grew by 12.4% to HKD 1,527.4 million from suspension product sales and HKD 99.6 million from technical services, driven by Polish plant orders despite Czech plant closure impacts Revenue (Sales of Suspension Products) | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Revenue from sales of suspension products | 1,527.4 | 1,336.1 | Revenue (Technical Services) | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Technical service income | 99.6 | 111.1 | - The increase in revenue was primarily due to an increase in order volume at the Polish plant, while revenue from the Czech plant decreased due to the planned closure[43](index=43&type=chunk) [Gross Profit and Gross Margin](index=18&type=section&id=Gross%20Profit%20and%20Gross%20Margin) For the period ended June 30, 2025, gross profit decreased to HKD 148.7 million and gross margin to 9.1%, mainly due to underutilization and closure provisions at the Czech plant Gross Profit and Gross Margin | Indicator | 2025 (HKD millions/%) | 2024 (HKD millions/%) | | :--- | :--- | :--- | | Gross profit | 148.7 | 221.7 | | Gross margin | 9.1% | 15.3% | - Both gross profit and gross margin decreased compared to the prior year, primarily due to lower-than-expected utilization at the Czech plant and provisions and losses arising from the closure plan[44](index=44&type=chunk) - Management expects the closure of the Czech plant to be completed by the end of Q1 next year, which will help consolidate resources, reduce manufacturing costs, and improve overall capacity utilization[44](index=44&type=chunk) [Selling and Distribution Expenses](index=18&type=section&id=Selling%20and%20Distribution%20Expenses) For the period ended June 30, 2025, selling and distribution expenses remained stable at HKD 11.5 million, mainly comprising sales staff salaries and benefits Selling and Distribution Expenses | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Selling and distribution expenses | 11.5 | 11.5 | [Administrative Expenses](index=18&type=section&id=Administrative%20Expenses) For the period ended June 30, 2025, administrative expenses slightly increased to HKD 86.5 million, mainly due to administrative staff salaries and management service fees Administrative Expenses | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Administrative expenses | 86.5 | 83.6 | [Research and Development Expenses](index=18&type=section&id=Research%20and%20Development%20Expenses) For the period ended June 30, 2025, R&D expenses significantly decreased by 48.8% to HKD 90.8 million, due to enhanced cost control and reduced new project expenditures Research and Development Expenses | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Research and development expenses | 90.8 | 177.4 | - The decrease in R&D expenses was primarily attributable to enhanced cost control and a significant reduction in R&D expenditures on new projects[47](index=47&type=chunk) [Other Income (Financial Review)](index=19&type=section&id=Other%20Income%20(Financial%20Review)) For the period ended June 30, 2025, other income increased by 32.5% to HKD 21.6 million, driven by higher profits from selling scrap, prototypes, and samples Other Income | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Other income | 21.6 | 16.3 | [Net Other Gains (Financial Review)](index=19&type=section&id=Net%20Other%20Gains%20(Financial%20Review)) For the period ended June 30, 2025, net other gains increased to HKD 11.4 million, primarily due to higher net exchange gains Net Other Gains | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Net other gains | 11.4 | 3.5 | [Finance Costs (Financial Review)](index=19&type=section&id=Finance%20Costs%20(Financial%20Review)) For the period ended June 30, 2025, finance costs slightly increased to HKD 6.7 million, mainly from interest on lease liabilities and defined benefit obligations Finance Costs | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Finance costs | 6.7 | 6.5 | [Loss for the Period Attributable to Owners of the Company](index=19&type=section&id=Loss%20for%20the%20Period%20Attributable%20to%20Owners%20of%20the%20Company) For the period ended June 30, 2025, loss attributable to owners of the Company narrowed to HKD 29.7 million, an improvement from the prior year's HKD 51.6 million loss Loss for the Period Attributable to Owners of the Company | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Loss for the period | (29.7) | (51.6) | [Liquidity and Financial Resources](index=19&type=section&id=Liquidity%20and%20Financial%20Resources) The Group's operations require substantial working capital, with a net cash outflow of HKD 2.9 million from operations and cash and cash equivalents of HKD 96.3 million as of June 30, 2025 - The Group's operations require substantial working capital, primarily to fund purchases of raw materials, employee remuneration, capital expenditures, R&D, and other expenses[52](index=52&type=chunk) Cash Flow from Operating Activities | Item | 2025 (HKD millions) | 2024 (HKD millions) | | :--- | :--- | :--- | | Net cash flow from operating activities | (2.9) (Outflow) | 77.1 (Inflow) | Cash and Cash Equivalents | Date | Amount (HKD millions) | | :--- | :--- | | June 30, 2025 | 96.3 | | December 31, 2024 | 134.1 | [Debt](index=20&type=section&id=Debt) As of June 30, 2025, and December 31, 2024, the Group had no bank or other borrowing balances, maintaining a 0% debt-to-asset ratio - As of June 30, 2025, and December 31, 2024, the Group had no bank or other borrowing balances[53](index=53&type=chunk) Debt-to-Asset Ratio | Date | Debt-to-Asset Ratio | | :--- | :--- | | June 30, 2025 | 0% | | December 31, 2024 | 0% | [Pledge of Assets](index=20&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, and December 31, 2024, the Group had not pledged any assets - As of June 30, 2025, and December 31, 2024, the Group had not pledged any assets[54](index=54&type=chunk) [Foreign Exchange Risk](index=20&type=section&id=Foreign%20Exchange%20Risk) The Group's transactions are primarily denominated in EUR, USD, and local currencies, with management actively monitoring the market to mitigate exchange rate risks - The Group's transactions are primarily denominated in Euros, US Dollars, and local currencies where operations are conducted, including Polish Zloty, Czech Koruna, and British Pounds[55](index=55&type=chunk) - The Group will closely monitor the foreign exchange market and take reasonable and effective measures from time to time to eliminate any negative impact caused by exchange rate risks as much as possible[55](index=55&type=chunk) [Capital and Other Commitments](index=20&type=section&id=Capital%20and%20Other%20Commitments) Except for plant and machinery capital commitments disclosed in Note 18, the Group and Company had no other commitments at period-end - Except as disclosed in Note 18 to the interim financial information, the Group and the Company had no other commitments as of June 30, 2025, and December 31, 2024[56](index=56&type=chunk) [Contingent Liabilities](index=20&type=section&id=Contingent%20Liabilities) As of June 30, 2025, and December 31, 2024, the Group and Company had no significant contingent liabilities - As of June 30, 2025, and December 31, 2024, the Group and the Company had no significant contingent liabilities[57](index=57&type=chunk) [Other Information](index=21&type=section&id=Other%20Information) This section provides supplementary information on rights issue proceeds, EHS measures, outlook, employees, listed securities, and corporate governance, including Board member introductions [Use of Proceeds from Rights Issue](index=21&type=section&id=Use%20of%20Proceeds%20from%20Rights%20Issue) The Company completed a rights issue in October 2024, raising HKD 46.4 million, with most funds used for working capital at Polish and French technical centers, and HKD 6.4 million remaining for Hong Kong headquarters - The Company completed a rights issue on October 21, 2024, raising net proceeds of approximately **HKD 46.4 million**[58](index=58&type=chunk) Use of Proceeds from Rights Issue and Unutilized Balance | Intended Use | Intended Use of Proceeds from Rights Issue (HKD millions) | Actual Use of Net Proceeds as of June 30, 2025 (HKD millions) | Unutilized Net Proceeds as of June 30, 2025 (HKD millions) | | :--- | :--- | :--- | :--- | | For working capital of the Group's production plants in Poland and the Czech Republic | 25.5 | – | 0.2 | | For working capital of the Company's headquarters in Hong Kong | 11.6 | 5.4 | 6.2 | | For working capital of the Group's technical centers in Poland and France | 9.3 | 9.3 | – | | **Total** | **46.4** | **14.7** | **6.4** | [Environmental, Health and Safety](index=21&type=section&id=Environmental,%20Health%20and%20Safety) The Group is committed to environmental protection and employee health and safety, implementing control plans, obtaining permits, providing training, and complying with regulations - The Group is committed to protecting human health, natural resources, and the global environment, having adopted hazardous substance control plans and chemical assessment procedures, and obtained necessary environmental permits[59](index=59&type=chunk) - The Group strictly complies with various environmental laws and regulations related to emissions and waste generation from its production facilities into land, air, and water[60](index=60&type=chunk) - The Group prioritizes employee health and safety, providing occupational health and safety training and implementing human resource policies to reduce accidents[60](index=60&type=chunk) [Outlook](index=22&type=section&id=Outlook) The Group anticipates global economic uncertainty from geopolitical tensions and tariffs, but expects Eurozone growth, with the Czech plant closure enhancing efficiency, and continued R&D investment for sustainable development - Geopolitical tensions, the Russia-Ukraine conflict, and tariff threats will add uncertainty to the future global political and economic landscape[62](index=62&type=chunk) - European passenger car production in 2024 increased by **4.4%** compared to 2023, but remains **18.6%** below pre-pandemic levels, indicating room for further recovery[63](index=63&type=chunk) - The International Monetary Fund forecasts Eurozone GDP to grow by **1.5%** in 2025, signaling stable economic development in Europe[63](index=63&type=chunk) - The Czech plant closure plan is progressing smoothly, with production lines expected to be transferred to Poland by the end of this year and the premises returned to the landlord by the end of Q1 next year; management believes this will enhance resource integration efficiency and capacity utilization[64](index=64&type=chunk) - The Group will continue to invest in R&D and engineering activities, collaborating closely with automotive manufacturers to develop innovative solutions to maintain industry leadership and long-term sustainable development[65](index=65&type=chunk) [Employees](index=24&type=section&id=Employees) As of June 30, 2025, the Group had 2,013 employees with a total cost of HKD 392.3 million, offering attractive compensation, retirement plans, and benefits Employee Count and Cost | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Number of employees | 2,013 employees | 2,360 employees | | Total employee cost | HKD 392.3 million | HKD 289.3 million | - The Group offers comprehensive and attractive compensation, retirement plans, and benefits to its employees, including defined benefit pension plans and MPF schemes[66](index=66&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=24&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) During the review period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities on any exchange - During the review period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities on The Stock Exchange of Hong Kong Limited or any other securities exchange[67](index=67&type=chunk) [Compliance with Corporate Governance Code](index=24&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The Company complied with the Corporate Governance Code provisions in Appendix C1 of the Listing Rules for the six months ended June 30, 2025 - The Company complied with the code provisions of the Corporate Governance Code set out in Appendix C1 to the Listing Rules of The Stock Exchange for the six months ended June 30, 2025[68](index=68&type=chunk) [Acknowledgement](index=24&type=section&id=Acknowledgement) The Board Chairman extends sincere gratitude to customers, suppliers, shareholders, management, and employees for their support and dedication during the period - The Chairman of the Board, on behalf of the Board, extends sincere gratitude to all customers, suppliers, and shareholders for their continuous support to the Group; and also expresses deep appreciation and commendation to all management and employees of the Group for their tireless efforts and concerted dedication during the period[69](index=69&type=chunk) [Board Composition](index=24&type=section&id=Board%20Composition) As of the announcement date, the Board comprises Mr. Dong Xiaojie (Chairman), two Executive Directors, and three Independent Non-executive Directors - As of the announcement date, the Board comprises Mr. Dong Xiaojie (Chairman), Mr. Liu Xihe (Executive Director), Dr. Xi Jianpeng (Executive Director), Mr. Huang Kejie (Independent Non-executive Director), Mr. Lo Ka Ming (Independent Non-executive Director), and Ms. Peng Fan (Independent Non-executive Director)[71](index=71&type=chunk)

Group 1 - The company, Jingxi International (02339.HK), will hold a board meeting on August 28, 2025, to approve its interim results for the six months ending June 30, 2025, and consider the distribution of an interim dividend if appropriate [1] - The board meeting will take place at the 10th floor, 1005-06, Hysan Place, 39 Hennessy Road, Wan Chai, Hong Kong [1] Group 2 - Jingxi International has entered into an asset ownership transfer agreement [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。 京 西 重 工 國 際 有 限 公 司 BEIJINGWEST INDUSTRIES INTERNATIONAL LIMITED (於開曼群島註冊成立之有限公司) (股份代號：2339) 董事會召開日期 京西重工國際有限公司（「本公司」）董事會（「董事會」）宣佈，本公司將 於二零二五年八月二十八日（星期四）於香港灣仔告士打道三十九號夏慤大廈 10 樓 1005 - 06 室舉行董事會會議，藉以（其中包括）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的中期業績，以及（如適當）考慮派發中 期股息。 承董事會命 京西重工國際有限公司 主席 東小杰 二零二五年八月十八日 於本公告日期，董事會由東小杰先生（主席）、劉喜合先生（執行董事）、席建鵬博士 （執行董事）、黃科傑先生（獨立非執行董事）、盧家明先生（獨立非執行董事）及彭 凡女士（獨立非執行董事）組成。 ...

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7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: 京西重工國際有限公司 呈交日期: 2025年8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) | 02339 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | III.已發行股份及 ...

Financial Performance - The company reported a significant increase in revenue, reaching $500 million, representing a 25% year-over-year growth[5]. - The Group recorded revenue of HK$2,774.7 million for the year ended 31 December 2024, an increase of 2.4% compared to 2023[40]. - For the year ended December 31, 2024, the Group recorded revenue of HK$2,644.8 million from the manufacture and sales of suspension products, an increase from HK$2,509.0 million in 2023, primarily due to an increase in orders from the plants in Poland and the Czech Republic[56][61]. - The Group reported a loss of HK$128.0 million for the Current Year, maintaining a stable financial position with HK$134.1 million in cash and cash equivalents and no bank loans as of 31 December 2024[41]. - The loss attributable to owners of the Company was approximately HK$128.0 million, compared to HK$55.3 million in 2023[84][87]. - The net income tax expense for the year ended 31 December 2024 was HK$10.2 million, a decrease from a net income tax credit of HK$32.2 million in 2023[78][82]. - The Group's operating activities generated a net cash inflow of HK$99.6 million for the year ended 31 December 2024, compared to HK$70.7 million in 2023[86][88]. - The Group maintained cash and cash equivalents of HK$134.1 million as of 31 December 2024, slightly down from HK$136.0 million as of 31 December 2023[86][88]. - The Group did not have any bank borrowings as of 31 December 2024 and 2023, resulting in a gearing ratio of 0%[90][91]. Market and Strategic Initiatives - The company provided guidance for the next fiscal year, projecting revenue growth of 20% to $600 million[5]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2025[5]. - A strategic acquisition of a local competitor was completed, valued at $100 million, aimed at enhancing product offerings[5]. - The Group aims to strengthen cooperation with European automobile manufacturers to maintain and increase sales revenue, while also managing supply-chain risks and cost control[45][47]. - The Group is cautiously optimistic about future development and aims to create more value for shareholders[46][48]. Research and Development - Research and development expenses increased by 30%, totaling $30 million, to support innovation in new technologies[5]. - Research and development expenses rose by 42.6% to HK$392.9 million in 2024, compared to HK$275.5 million in 2023, due to increased activities for new automobile braking products[65][69]. - The company emphasizes continuous investment in research and development to maintain its leadership position in the automotive parts industry[117]. Corporate Governance - The Company is committed to maintaining high corporate governance standards to safeguard shareholder interests and enhance accountability and transparency[122][127]. - The Board consists of six Directors, including three Executive Directors and three Independent Non-executive Directors, ensuring a balanced composition for effective decision-making[126][130]. - The Company has complied with the Corporate Governance Code during the financial year ended December 31, 2024, ensuring adherence to best practices[125][129]. - The Company adopted a Board Diversity Policy on January 27, 2014, which was reviewed during the year to ensure its continued effectiveness[161]. - The Company must appoint at least one female Director by December 31, 2024, in compliance with new Listing Rules effective January 1, 2022[164]. - The Company has received confirmations of independence from all Independent Non-executive Directors, ensuring their independence as per Rule 3.13 of the Listing Rules[184]. Employee and Workforce Management - As of December 31, 2024, the Group had approximately 2,200 employees, with total employee costs amounting to HK$572.2 million, an increase from HK$520.8 million in 2023, reflecting a year-over-year growth of approximately 9.9%[120][121]. - The remuneration packages for employees are reviewed annually based on market conditions and individual performance, ensuring competitive compensation[120][121]. - The Group has defined benefit pension plans covering substantially all qualified employees in Poland, France, and Germany, alongside a mandatory provident fund scheme for employees in Hong Kong[120][121]. Sustainability and Environmental Goals - The company aims to reduce carbon emissions by 25% by 2026 as part of its sustainability strategy[5]. - Despite pricing pressure from customers, the company aims to maintain a reasonable gross profit margin and sustainable business development[118]. Board Meetings and Director Responsibilities - The Board meets regularly, holding at least four meetings a year, with provisions for additional meetings as required[140][141]. - The Board held five physical meetings during the financial year ended December 31, 2024, to review and approve the interim and final results of the Group[149]. - The Company aims to provide sufficient information to the Board to enable informed decision-making regarding financial and other matters[154]. - Procedures are in place for Directors to seek independent professional advice at the Company's expense when necessary[157]. Economic and Geopolitical Factors - The geopolitical situation, including the ongoing Russian-Ukrainian war and tariff threats, creates considerable uncertainty for the global political and economic landscape[111]. - The International Monetary Fund forecasts a GDP growth of 1.0% for the eurozone in 2025, indicating stable economic development in Europe[112]. - The European automotive industry is expected to rebound as demand continues to rise in the post-pandemic stage[42].

Financial Performance - For the fiscal year ending December 31, 2024, total revenue reached HKD 2,774,721,000, representing an increase of 2.43% compared to HKD 2,708,861,000 in 2023[4] - Gross profit for the same period was HKD 458,257,000, up from HKD 398,718,000, indicating a growth of 14.96%[4] - The company reported a net loss of HKD 127,972,000 for 2024, compared to a loss of HKD 55,320,000 in 2023, marking an increase in losses of 131.56%[5] - Total revenue for the year 2024 was HKD 2,774,721,000, an increase from HKD 2,708,861,000 in 2023, representing a growth of approximately 2.43%[20] - Revenue from industrial product sales reached HKD 2,644,777,000 in 2024, up from HKD 2,509,036,000 in 2023, marking an increase of about 5.39%[20] - Technical service revenue decreased to HKD 129,944,000 in 2024 from HKD 199,825,000 in 2023, a decline of approximately 34.9%[20] - The group reported a pre-tax loss of HKD 2,316,464,000 for the year ended December 31, 2024, compared to HKD 2,310,143,000 in 2023, indicating a slight increase in costs[27] - The total income tax expense for the year was HKD 10,214,000, compared to a tax benefit of HKD 32,219,000 in 2023, marking a significant shift in tax position[29] - The group’s total liabilities increased, with other payables and accrued expenses rising to HKD 189,430,000 in 2024 from HKD 127,909,000 in 2023, a growth of approximately 48.1%[37] - The company reported a loss attributable to owners of approximately HKD 128.0 million for the year ending December 31, 2024, compared to a loss of HKD 55.3 million in 2023[58] Research and Development - Research and development expenses increased significantly to HKD 392,888,000 from HKD 275,546,000, reflecting a rise of 42.55%[4] - The company plans to continue investing in R&D to enhance its product offerings and market competitiveness[9] - Research and development costs amounted to HKD 392,888,000 in 2024, up from HKD 275,546,000 in 2023, reflecting a 42.5% increase year-over-year[27] - Research and development expenses increased by 42.6% to HKD 392.9 million for the fiscal year ending December 31, 2024, driven by increased R&D activities for new automotive brake products and salary increments for technical staff[51] - The total tax credit recognized due to R&D expenses eligible for double tax deduction amounted to HKD 21.6 million in the previous year[57] Assets and Liabilities - The total assets less current liabilities amounted to HKD 1,128,948,000, down from HKD 1,264,094,000 in the previous year, a decrease of 10.71%[7] - Current liabilities increased to HKD 903,687,000 from HKD 688,225,000, representing a rise of 31.29%[7] - The total equity attributable to the owners of the company decreased to HKD 749,822,000 from HKD 853,934,000, a drop of 12.15%[8] - Trade receivables from third parties decreased to HKD 286,682,000 in 2024 from HKD 344,038,000 in 2023, a decline of approximately 16.7%[32] - Trade payables to third parties increased to HKD 389,305,000 in 2024 from HKD 362,667,000 in 2023, representing a rise of about 7.3%[36] - Contract liabilities related to customer contracts rose to HKD 58,913,000 in 2024 from HKD 40,187,000 in 2023, indicating a 46.5% increase[37] Operational Highlights - The company operates as a single business segment focused on manufacturing, selling, and trading automotive parts and components, as well as providing technical services[19] - The company is exploring potential market expansion opportunities and strategic partnerships to drive future growth[10] - The company completed a rights issue on October 21, 2024, raising approximately HKD 46.4 million, with planned uses including operational funding for production facilities in Poland and the Czech Republic[65] - The actual use of funds from the rights issue for operational funding in Poland and the Czech Republic was HKD 25.3 million, with HKD 11.6 million remaining unutilized for the Hong Kong headquarters[65] - The group has approximately 2,200 employees as of December 31, 2024, with total employee costs amounting to HKD 572.2 million, an increase from HKD 520.8 million in 2023[71] Market and Economic Outlook - The group anticipates a GDP growth of 1.0% in the Eurozone by 2025, indicating stable economic development in Europe, which will support the group's business stability[69] - The geopolitical situation remains tense, with ongoing conflicts such as the Russia-Ukraine war and the Israel-Palestine conflict, contributing to significant uncertainty in the global political and economic landscape[68] Corporate Governance and Social Responsibility - The group emphasizes the importance of employee health and safety, providing training and implementing measures to reduce occupational hazards[67] - The group is committed to continuous learning and development opportunities for employees to help them reach their full potential[67] - The group will continue to evaluate and optimize its business structure to improve long-term profitability and enhance shareholder value[70]

B W INTERNATIONAL 京西重工國際有限公司 BEIJINGWEST INDUSTRIES INTERNATIONAL LIMITED Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立之有限公司 Stock Code 股份代號 : 2339 2024 INTERIM REPORT 中 期 報 告 O | --- | --- | --- | |------------------------------------------------------------------------------------|-----------------------------|-------| | | | | | CONTENTS 目錄 | | | | CORPORATE INFORMATION | 公司資料 | 2 | | INDEPENDENT REVIEW REPORT | 獨立審閱報告 | 4 | | INTERIM RESULTS INTERIM CONDENSED CONSOLIDATED STATEMENT ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,447,238, an increase of 1.8% compared to HKD 1,430,720 for the same period in 2023[1] - Gross profit for the same period was HKD 221,740, representing a 15.2% increase from HKD 192,502 in the previous year[1] - The company reported a net loss of HKD 51,594 for the six months ended June 30, 2024, compared to a profit of HKD 22,717 in the same period of 2023[2] - Total expenses for the six months ended June 30, 2024, were HKD 1,498,031 thousand, compared to HKD 1,458,188 thousand in 2023, an increase of 2.73%[16] - The basic loss per share for the six months ended June 30, 2024, was calculated based on a weighted average of 574,339,068 shares, consistent with the previous year[21] - No interim dividend was declared for the six months ended June 30, 2024, similar to the previous year[22] Assets and Liabilities - Total assets increased to HKD 2,079,552 as of June 30, 2024, up from HKD 1,952,319 at the end of 2023, reflecting a growth of 6.5%[3] - Current liabilities totaled HKD 901,558, which is a 31% increase compared to HKD 688,225 at the end of 2023[4] - The company’s total equity decreased to HKD 779,774 from HKD 853,934, indicating a decline of 8.7%[5] - Trade receivables from third parties rose to HKD 401,516, an increase of 16.8% from HKD 344,038 in the previous year[3] - Trade payables to third parties as of June 30, 2024, were HKD 391,901,000, compared to HKD 362,667,000 at the end of 2023[26] - Contract liabilities increased to HKD 54,680,000 as of June 30, 2024, from HKD 40,187,000 as of December 31, 2023, representing a growth of 36.5%[28] Revenue Breakdown - Sales of industrial products reached HKD 1,336,116 thousand, compared to HKD 1,331,512 thousand in the previous year, indicating a growth of 0.35%[13] - Technical service revenue increased to HKD 111,122 thousand from HKD 99,208 thousand, reflecting a growth of 12.3%[13] - Revenue from Germany was HKD 472,751 thousand, up from HKD 379,618 thousand, showing a significant increase of 24.5%[13] - Revenue from the United States rose to HKD 338,790 thousand from HKD 295,283 thousand, marking an increase of 14.7%[13] - Revenue from the sale of suspension products was HKD 1,336.1 million for the six months ended June 30, 2024, slightly up from HKD 1,331.5 million for the same period in 2023[34] Expenses - Material costs decreased to HKD 893,963 thousand from HKD 914,348 thousand, a reduction of 2.2%[16] - Employee benefits expenses increased to HKD 289,307 thousand from HKD 263,978 thousand, reflecting a rise of 9.6%[16] - Research and development expenses were HKD 41,214 thousand, down from HKD 47,804 thousand, a decrease of 13.7%[16] - Administrative expenses increased by 25.5% to HKD 83.6 million, attributed to hiring for future business development and annual salary adjustments[37] - Sales and distribution expenses decreased by 1.1% to HKD 11.5 million, reflecting cost management efforts[36] Other Income and Taxation - The company generated other income of HKD 16,306 thousand, compared to HKD 28,036 thousand in the previous year, a decline of 41.9%[17] - The net other income for the six months ended June 30, 2024, was HKD 3,495,000, compared to HKD 677,000 for the same period in 2023, representing a significant increase[18] - The current tax expense for the six months ended June 30, 2024, was HKD 36,681,000, compared to a tax credit of HKD 25,309,000 in 2023[20] - The total tax expense for the period was HKD 9,163,000, a decrease from HKD 28,797,000 in the previous year[20] - Income tax net expenditure was HKD 9.2 million for the period ending June 30, 2024, compared to a net income of HKD 28.8 million for the same period in 2023, influenced by tax refunds and deductions from eligible R&D expenses[42] Shareholding and Corporate Structure - The company is primarily engaged in the manufacturing and sale of automotive parts and components, as well as providing technical services[6] - The company’s ultimate holding company is Zhangjiakou Industrial Investment Holding Group, a state-owned enterprise in the People's Republic of China[6] - The company has undergone significant changes in shareholding structure, with Zhangjiakou Industrial Investment Holding Group holding approximately 62.89% of the shares in its subsidiary, Jingxi Intelligent[6] Strategic Developments - The company plans to raise up to HKD 48,200,000 through a rights issue, offering 287,169,534 shares at HKD 0.168 each[32] - The group aims to maintain a healthy growth trajectory despite pricing pressures from customers and rising commodity prices, while sustaining a certain level of gross margin[54] - The group is committed to optimizing its business structure to improve long-term profitability and enhance shareholder value[54] - The group emphasizes the importance of continuous investment in R&D and engineering activities to maintain and enhance its competitive position in the industry[53] Operational Changes - The group has closed its Luton plant in the UK to optimize operations and increase capacity utilization, focusing production in Poland and the Czech Republic[53] - A new R&D center for automotive braking products has been established in Italy, aimed at enhancing production capabilities in the Czech Republic[53] Workforce and Employment - The total employee cost for the group was HKD 289.3 million for the period ending June 30, 2024, compared to HKD 264.0 million for the same period in 2023, reflecting an increase in workforce from 2,140 to 2,360 employees[55] Economic and Market Conditions - The geopolitical situation remains tense, with uncertainties surrounding the outcomes of elections in Europe and the US, which may impact future global economic conditions[52] - The International Monetary Fund forecasts a 1.5% growth in GDP for the Eurozone in 2025, indicating stable economic development that may benefit the group's business[53] Environmental Commitment - The group is committed to environmental protection and has implemented harmful substance control plans and chemical assessment procedures[50]