本月底法定/註冊股本總額： HKD 500,000,000 FF301 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10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: 中國城市基礎設施集團有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年11月4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) | 02349 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國城市基礎設施集團有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年10月2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) | 02349 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | 本月底法定/註 ...

2025 目錄 | 公司資料 | 2 | | --- | --- | | 簡明綜合損益表 | 3 | | 簡明綜合損益及其他全面收益表 | 4 | | 簡明綜合財務狀況報表 | 5 | | 簡明綜合權益變動表 | 7 | | 簡明綜合現金流量報表 | 8 | | 簡明綜合財務報表附註 | 9 | | 管理層討論及分析 | 22 | | 權益披露 | 25 | | 企業管治 | 30 | | 其他資料 | 31 | 目錄 公司資料 董事會 執行董事 李朝波先生 （主席兼行政總裁） 季加銘先生 非執行董事 張貴卿先生 獨立非執行董事 吳志豪先生 郭堅華先生 鄺美雲女士 審核委員會 吳志豪先生 （委員會主席） 郭堅華先生 鄺美雲女士 薪酬委員會 郭堅華先生 （委員會主席） 吳志豪先生 鄺美雲女士 提名委員會 郭堅華先生 （委員會主席） 吳志豪先生 鄺美雲女士 公司秘書 陳愷賢先生 公司授權代表 李朝波先生 （主席） 陳愷賢先生 核數師 天健國際會計師事務所有限公司 執業會計師 網址 www.city-infrastructure.com 註冊辦事處 Cricket Square Hutchins Drive P.O ...

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) | 02349 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | 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: 中國城市基礎設施集團有限公司（於開曼群島註冊成立之有限公司） 本月底法定/註冊 ...

Group 1 - The company reported a revenue of HKD 25.049 million for the six months ending June 30, 2025, representing a year-on-year decrease of 3.49% [1] - The attributable loss to shareholders was HKD 44.271 million, which expanded by 21.51% compared to the previous year [1] - The loss per share was HKD 0.0142 [1]

[Summary](index=1&type=section&id=%E6%91%98%E8%A6%81) The company experienced a decline in turnover and gross profit, an increased fair value loss on investment properties, and a higher net loss for the period Key Financial Highlights | Metric | H1 2025 (HK$ thousand) | H1 2024 (HK$ thousand) | Change | | :--- | :--- | :--- | :--- | | Turnover | 25,049 | 25,594 | -2.13% | | Gross Profit | 14,473 | 17,696 | -18.2% | | Gross Profit Margin | 57.8% | 68.2% | -10.4% | | Fair Value Loss on Investment Properties | 35,870 | 24,565 | +46.02% | | Net Loss for the Period | 44,271 | 36,433 | +21.51% | | Total Assets (End of Period) | 1,062,360 | 1,069,099 (Dec 31, 2024) | -0.63% | [Interim Results](index=2&type=section&id=%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE) This section presents the condensed consolidated financial statements, including statements of profit or loss, comprehensive income, and financial position [Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company's turnover decreased year-on-year, while cost of sales increased, leading to a reduction in gross profit, and a significant increase in fair value loss on investment properties expanded the loss for the period to HK$44,271 thousand Condensed Consolidated Statement of Profit or Loss | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Turnover | 25,049 | 25,954 | | Cost of Sales | (10,576) | (8,258) | | Gross Profit | 14,473 | 17,696 | | Fair Value Loss on Investment Properties | (35,870) | (24,565) | | Finance Costs | (19,377) | (20,924) | | Loss Before Tax | (53,238) | (42,574) | | Income Tax Credit | 8,967 | 6,141 | | Loss for the Period | (44,271) | (36,433) | [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) During the reporting period, the company's loss for the period was HK$44,271 thousand, but positive exchange differences from foreign operations significantly reduced the total comprehensive expense for the period (net of tax) to HK$11,222 thousand, a substantial improvement from the prior year Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Loss for the Period | (44,271) | (36,433) | | Exchange Differences Arising from Translation of Foreign Operations | 32,865 | (14,636) | | Total Comprehensive Expense for the Period (Net of Tax) | (11,222) | (50,833) | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E5%A0%B1%E8%A1%A8) As of June 30, 2025, the company's total assets slightly decreased, with investment properties remaining the primary component of non-current assets, and net current liabilities increased, indicating liquidity pressure Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (HK$ thousand) | Dec 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | **Assets** | | | | Investment Properties | 1,034,505 | 1,036,596 | | Bank Balances and Cash | 4,032 | 9,721 | | **Total Assets** | **1,062,360** | **1,069,099** | | **Equity and Liabilities** | | | | Equity Attributable to Owners of the Company | 590,274 | 601,496 | | Borrowings - Due After One Year | 359,997 | 349,576 | | Borrowings - Due Within One Year | 10,989 | 8,510 | | **Total Liabilities** | **472,085** | **467,602** | | Net Current Liabilities | (23,022) | (17,833) | [Notes to the Condensed Consolidated Financial Statements](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) This section provides detailed explanations and disclosures regarding the preparation basis, accounting policies, segment information, and other financial statement items [1. Basis of Preparation](index=6&type=section&id=1.%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) The company, incorporated in the Cayman Islands, primarily engages in property investment, development, and management in China, with condensed consolidated interim financial information prepared on a going concern basis despite net current liabilities - The company's principal activities are property investment, development, and management in China[8](index=8&type=chunk) - The condensed consolidated financial statements are prepared on a going concern basis, as the directors expect the company to have sufficient liquidity to meet its financial obligations, despite net current liabilities of approximately **HK$23,022 thousand**[10](index=10&type=chunk) - The company plans to maintain its going concern through mortgage loan financing, accelerated collection of receivables, and cost control measures[12](index=12&type=chunk) [2. Significant Accounting Policies](index=7&type=section&id=2.%20%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) The condensed consolidated interim financial information is prepared on a historical cost basis, with certain properties and financial instruments measured at fair value, and new or revised HKFRSs applied in this period had no significant impact on the financial information - Financial information is prepared on a historical cost basis, with certain properties and financial instruments measured at fair value[11](index=11&type=chunk) - New and revised Hong Kong Financial Reporting Standards (such as HKAS 21 Amendment) applied for the first time in this period had no significant impact on the condensed consolidated interim financial information[13](index=13&type=chunk) [3. Segment Information](index=8&type=section&id=3.%20%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's operating segments include property development, property investment, and property management businesses, with property investment being the main revenue source, though its turnover and operating results declined, and fair value loss on investment properties significantly increased - The Group's operating segments include property development business, property investment business, and property management business[15](index=15&type=chunk) Segment Turnover and Results (For the six months ended June 30, 2025) | Segment | Turnover (HK$ thousand) | Segment Operating Results (HK$ thousand) | | :--- | :--- | :--- | | Property Development Business | – | (261) | | Property Investment Business | 16,869 | 8,795 | | Property Management Business | 8,180 | 546 | | **Total** | **25,049** | **9,080** | Segment Turnover and Results (For the six months ended June 30, 2024) | Segment | Turnover (HK$ thousand) | Segment Operating Results (HK$ thousand) | | :--- | :--- | :--- | | Property Development Business | – | (401) | | Property Investment Business | 17,867 | 9,188 | | Property Management Business | 8,087 | 2,227 | | **Total** | **25,954** | **11,014** | - Fair value loss on investment properties increased from **HK$24,565 thousand** in the prior year period to **HK$35,870 thousand** in the current period[17](index=17&type=chunk)[18](index=18&type=chunk) [4. Finance Costs](index=11&type=section&id=4.%20%E8%B2%A1%E5%8B%99%E8%B2%BB%E7%94%A8) For the six months ended June 30, 2025, total finance costs decreased to HK$19,377 thousand from HK$20,924 thousand in the prior year, primarily due to reduced interest expenses on bank loans and other borrowings Composition of Finance Costs | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest expense on bank loans and other borrowings | 19,256 | 20,909 | | Interest expense on lease liabilities | 121 | 15 | | **Total** | **19,377** | **20,924** | [5. Income Tax Credit](index=11&type=section&id=5.%20%E6%89%80%E5%BE%97%E7%A8%85%E6%8A%B5%E5%85%8D) The income tax credit for the period was HK$8,967 thousand, mainly arising from deferred tax credit on fair value loss on investment properties, with the company not subject to current tax in Hong Kong and China Income Tax Credit | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Current tax expense for the period | – | – | | Deferred tax credit for the period | (8,967) | (6,141) | | **Total** | **(8,967)** | **(6,141)** | - The income tax credit is primarily attributable to deferred tax credit arising from fair value loss on investment properties[41](index=41&type=chunk) [6. Loss for the Period](index=12&type=section&id=6.%20%E6%9C%9F%E9%96%93%E8%99%A7%E6%90%8D) The loss for the period was HK$44,271 thousand, primarily influenced by employee costs, depreciation, net rental income from investment properties, and related operating expenses Components of Loss for the Period | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total employee costs | 11,045 | 10,062 | | Depreciation of property, plant and equipment | 59 | 82 | | Depreciation of right-of-use assets | 1,220 | 1,486 | | Net rental income from investment properties | (11,397) | (14,032) | [7. Dividends](index=13&type=section&id=7.%20%E8%82%A1%E6%81%AF) The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board of Directors does not recommend the payment of an interim dividend for the current period[24](index=24&type=chunk)[51](index=51&type=chunk) [8. Loss Per Share](index=13&type=section&id=8.%20%E6%AF%8F%E8%82%A1%E8%99%A7%E6%90%8D) For the six months ended June 30, 2025, basic loss per share expanded to 1.42 HK cents, compared to 1.16 HK cents in the prior year Loss Per Share | Metric | 2025 (HK cents) | 2024 (HK cents) | | :--- | :--- | :--- | | Basic Loss Per Share | (1.42) | (1.16) | - The weighted average number of ordinary shares used for calculating basic and diluted loss per share was **3,128,278,542 shares**[25](index=25&type=chunk) [9. Trade and Other Receivables](index=14&type=section&id=9.%20%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E8%B3%A6%E6%AC%BE%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) As of June 30, 2025, total trade and other receivables increased to HK$21,120 thousand from December 31, 2024, with trade receivables over 180 days accounting for the largest portion Trade and Other Receivables | Item | June 30, 2025 (HK$ thousand) | Dec 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade receivables (net of allowance) | 12,754 | 10,500 | | Prepayments and deposits | 5,705 | 5,246 | | Other receivables (net of allowance) | 8,366 | 8,318 | | **Total** | **21,120** | **18,818** | Ageing Analysis of Trade Receivables (Net of Credit Loss Allowance) | Ageing | June 30, 2025 (HK$ thousand) | Dec 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 90 days | 2,838 | 2,536 | | 91 to 180 days | 3,009 | 1,251 | | Over 180 days | 6,907 | 6,713 | | **Total** | **12,754** | **10,500** | [10. Trade and Other Payables](index=15&type=section&id=10.%20%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E8%B3%A6%E6%AC%BE%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85) As of June 30, 2025, total trade and other payables were HK$25,339 thousand, slightly lower than December 31, 2024, with trade payables over 180 days representing a significant portion Trade and Other Payables | Item | June 30, 2025 (HK$ thousand) | Dec 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade payables | 6,791 | 6,187 | | Interest payable | 794 | 1,150 | | Accrued expenses and other taxes payable | 6,641 | 6,736 | | Other payables | 11,113 | 11,969 | | **Total** | **25,339** | **26,042** | - Trade payables primarily include demolition costs for the former hotel business, construction materials, property inventories, and unpaid amounts for investment property construction projects[27](index=27&type=chunk) [Management Discussion and Analysis](index=16&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E5%8F%8A%E5%88%86%E6%9E%90) This section provides an overview of the Group's business and financial performance, including segment reviews, financial highlights, liquidity, and future outlook [Business Review](index=16&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) The Group primarily engages in real estate-related businesses, including property investment and property management, with property investment experiencing a decline in rental income and average occupancy, while property management revenue slightly increased and expanded with a new Henan branch [Property Investment Business](index=16&type=section&id=%E7%89%A9%E6%A5%AD%E6%8A%95%E8%B3%87%E6%A5%AD%E5%8B%99) The Group primarily conducts property investment through Future City Shopping Mall and its car park, both of which experienced a decrease in rental income and average occupancy, leading to a slight reduction in the total fair value of investment properties - Future City Shopping Mall has a total leasable area of approximately **55,029 sqm**, with a fair value of approximately **HK$926,400 thousand** as of June 30, 2025[30](index=30&type=chunk) Future City Rental Income and Occupancy Rate | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Rental Income | Approx. HK$14,900 thousand | Approx. HK$17,400 thousand | | Average Occupancy Rate | Approx. 88.2% | Approx. 89.8% | - As of June 30, 2025, the Group held investment properties with a total fair value of approximately **HK$1,034,500 thousand**, slightly lower than **HK$1,036,600 thousand** as of December 31, 2024[33](index=33&type=chunk) [Property Management Business](index=17&type=section&id=%E7%89%A9%E6%A5%AD%E7%AE%A1%E7%90%86%E6%A5%AD%E5%8B%99) Property management business revenue slightly increased, primarily due to the establishment of the Henan branch and contributions from new contracts Property Management Business Revenue | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Revenue | Approx. HK$8,200 thousand | Approx. HK$8,100 thousand | - Wuhan Future City Property Management Co., Ltd. Henan Branch generated approximately **HK$1,700 thousand** in property management service income during the period[34](index=34&type=chunk) [Financial Review](index=17&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) This section provides a detailed analysis of changes in various financial indicators during the reporting period, showing a decline in turnover, an increase in cost of sales, a significant drop in gross profit and gross profit margin, an expanded fair value loss on investment properties, but reduced administrative and finance costs, ultimately leading to an increased loss attributable to owners of the company [Turnover](index=17&type=section&id=%E7%87%9F%E6%A5%AD%E9%A1%8D) Turnover for the period decreased to approximately HK$25,000 thousand, mainly due to reduced rental income from Future City and lower property management income Turnover Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Total Turnover | Approx. HK$25,000 thousand | Approx. HK$26,000 thousand | | Property Investment Business Turnover | Approx. HK$16,900 thousand | Approx. HK$17,900 thousand | | Property Management Business Turnover | Approx. HK$8,200 thousand | Approx. HK$8,100 thousand | [Cost of Sales](index=18&type=section&id=%E9%8A%B7%E5%94%AE%E6%88%90%E6%9C%AC) Cost of sales increased to approximately HK$10,600 thousand, primarily due to increased property management service costs for the Henan branch and higher staff costs for two car parks Cost of Sales Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Total Cost of Sales | Approx. HK$10,600 thousand | Approx. HK$8,200 thousand | | Property Investment Segment Cost of Sales | Approx. HK$5,500 thousand | HK$3,800 thousand | | Property Management Business Cost of Sales | Approx. HK$5,100 thousand | HK$4,400 thousand | [Gross Profit and Gross Profit Margin](index=18&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit decreased to approximately HK$14,500 thousand, with the overall gross profit margin declining to 57.8%, mainly due to a decrease in the gross profit margin of the property investment business Gross Profit and Gross Profit Margin Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Gross Profit | Approx. HK$14,500 thousand | HK$17,700 thousand | | Overall Gross Profit Margin | 57.8% | 68.2% | [Changes in Fair Value of Investment Properties](index=18&type=section&id=%E6%8A%95%E8%B3%87%E7%89%A9%E6%A5%AD%E7%9A%84%E5%85%AC%E5%B9%B3%E5%80%BC%E8%AE%8A%E5%8B%95) Fair value loss on investment properties expanded to approximately HK$35,900 thousand, an increase from the prior year period Fair Value Loss on Investment Properties | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Fair Value Loss | Approx. HK$35,900 thousand | Approx. HK$24,600 thousand | [Administrative Expenses](index=18&type=section&id=%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) Administrative expenses decreased by approximately 12.9% to approximately HK$12,100 thousand, primarily due to reduced legal and professional fees and staff costs Administrative Expenses Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Administrative Expenses | Approx. HK$12,100 thousand | Approx. HK$13,900 thousand | [Finance Costs](index=19&type=section&id=%E8%B2%A1%E5%8B%99%E8%B2%BB%E7%94%A8) Finance costs decreased to approximately HK$19,400 thousand, mainly due to reduced interest expenses on borrowings Finance Costs Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Finance Costs | Approx. HK$19,400 thousand | Approx. HK$20,900 thousand | [Income Tax Credit](index=19&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E6%8A%B5%E5%85%8D) Income tax credit increased to approximately HK$9,000 thousand, primarily attributable to deferred tax credit arising from fair value loss on investment properties Income Tax Credit Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Income Tax Credit | Approx. HK$9,000 thousand | Approx. HK$6,100 thousand | [Loss Attributable to Owners of the Company](index=19&type=section&id=%E6%9C%AC%E5%85%AC%E5%8F%B8%E6%93%81%E6%9C%89%E4%BA%BA%E6%87%89%E4%BD%94%E8%99%A7%E6%90%8D) Loss attributable to owners of the company expanded to approximately HK$44,300 thousand, primarily due to the increased fair value loss on investment properties Loss Attributable to Owners of the Company Comparison | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Loss | Approx. HK$44,300 thousand | Approx. HK$36,400 thousand | [Liquidity, Financial and Capital Resources](index=19&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E6%BA%90) The Group's cash position declined, total debt increased, and most investment properties are pledged, with both gearing ratio and current ratio indicating increased financial leverage and liquidity pressure [Cash Position](index=19&type=section&id=%E7%8F%BE%E9%87%91%E7%8B%80%E6%B3%81) As of June 30, 2025, total bank balances and cash decreased to approximately HK$4,000 thousand Bank Balances and Cash | Metric | June 30, 2025 (HK$ thousand) | Dec 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Bank Balances and Cash | Approx. HK$4,000 thousand | HK$9,700 thousand | [Borrowings and Pledges of the Group's Assets](index=19&type=section&id=%E5%80%9F%E6%AC%BE%E5%8F%8A%E6%9C%AC%E9%9B%86%E5%9C%98%E8%B3%87%E7%94%A2%E7%9A%84%E6%8A%B5%E6%8A%BC) The Group's total debt increased to approximately HK$371,000 thousand, with most due after one year, and approximately HK$435,600 thousand of investment properties are pledged as collateral for bank financing Total Debt | Metric | June 30, 2025 (HK$ thousand) | Dec 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total Debt | Approx. HK$371,000 thousand | HK$358,100 thousand | | Due Within One Year | Approx. HK$11,000 thousand | Approx. HK$8,500 thousand | | Due After One Year | Approx. HK$360,000 thousand | Approx. HK$349,600 thousand | - Approximately **HK$435,600 thousand** of investment properties are pledged as collateral for bank financing[45](index=45&type=chunk) [Gearing Ratio and Current Ratio](index=20&type=section&id=%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E6%AF%94%E7%8E%87%E5%8F%8A%E6%B5%81%E5%8B%95%E6%AF%94%E7%8E%87) As of June 30, 2025, the gearing ratio increased to 62.2%, and the current ratio decreased to 0.52, indicating increased financial leverage and weakened liquidity Financial Ratios | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Gearing Ratio | 62.2% | 57.9% | | Current Ratio | 0.52 | 0.62 | [Prospects and Future Plans](index=20&type=section&id=%E5%89%8D%E6%99%AF%E5%8F%8A%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8B%92) Looking ahead to the second half, the global political and economic environment remains complex and challenging, with the Chinese economy facing difficulties, and the Group will closely monitor market changes, respond flexibly, and actively seek potential projects aligned with its core businesses, including infrastructure-related ventures - Global political instability and a complex and challenging operating environment persist, with the Chinese economy facing a difficult recovery[47](index=47&type=chunk) - Management will closely monitor domestic and international political and economic developments and market trends, responding flexibly and making prudent decisions[47](index=47&type=chunk) - Actively seeking potential projects aligned with the Group's principal businesses, including infrastructure-related businesses[47](index=47&type=chunk) [Contingent Liabilities and Commitments](index=20&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5%E5%8F%8A%E6%89%BF%E6%93%94) As of the end of the reporting period, the Group had no significant contingent liabilities and commitments - As of June 30, 2025, and December 31, 2024, the Group had no significant contingent liabilities and commitments[48](index=48&type=chunk) [Events After Reporting Period](index=20&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) As of the date of this announcement, no significant events occurred after the reporting period - As of the date of this announcement, there were no significant events after the reporting period[49](index=49&type=chunk) [Other Information](index=21&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) This section covers details regarding employees, remuneration policy, interim dividends, share transactions, directors' securities dealings, corporate governance, and audit committee activities [Employees and Remuneration Policy](index=21&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of June 30, 2025, the Group's total number of employees increased to 121, with a corresponding increase in total staff costs Employee Count and Costs | Metric | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Total Employees | 121 employees | 114 employees | | Total Staff Costs | Approx. HK$10,500 thousand | Approx. HK$10,100 thousand | [Interim Dividend](index=21&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board of Directors resolved not to declare an interim dividend for the current period - The Board of Directors resolved not to declare an interim dividend for the current period[51](index=51&type=chunk) [Purchase, Sale or Redemption of the Company's Shares](index=21&type=section&id=%E8%B2%B7%E8%B3%A3%E5%8F%8A%E8%B4%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E4%BB%BD) During the period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's ordinary shares - During the period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's ordinary shares[52](index=52&type=chunk) [Standard Code for Securities Transactions by Directors](index=21&type=section&id=%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E7%9A%84%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) All directors confirmed compliance with the Standard Code as set out in Appendix C3 of the Listing Rules of the Stock Exchange throughout the period - All directors confirmed compliance with the Standard Code as set out in Appendix C3 of the Listing Rules of the Stock Exchange throughout the period[53](index=53&type=chunk) [Compliance with Corporate Governance Code](index=22&type=section&id=%E9%81%B5%E5%AE%88%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) The company has complied with the Corporate Governance Code, with two deviations: the Chairman and Chief Executive Officer roles are combined, and the Chairman is not subject to retirement by rotation, which the Board believes contributes to business strategy execution and strong leadership - There are two deviations from the Corporate Governance Code: the roles of Chairman and Chief Executive Officer are combined (Code Provision A.2.1), and the Chairman is not subject to retirement by rotation (Code Provision A.4.2)[54](index=54&type=chunk)[55](index=55&type=chunk) - The Board believes these deviations contribute to the execution of business strategies, enhanced operational efficiency, and strong, consistent leadership[54](index=54&type=chunk)[55](index=55&type=chunk) [Audit Committee](index=23&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee, comprising three independent non-executive directors, has reviewed the Group's unaudited condensed consolidated financial results for the period - The Audit Committee comprises Mr. Wu Chi Hao (Chairman), Mr. Kwok Kin Wah, and Ms. Kwong Mei Wan, all independent non-executive directors[57](index=57&type=chunk) - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial results for the period[58](index=58&type=chunk) [Publication of Interim Results and Interim Report](index=23&type=section&id=%E5%85%AC%E4%BD%88%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%8F%8A%E4%B8%AD%E6%9C%9F%E5%A0%B1%E5%91%8A) This results announcement has been published on the Stock Exchange and the company's website, and the interim report will be dispatched to shareholders and published in due course - This results announcement has been published on the Stock Exchange website www.hkexnews.hk and the company's website www.city-infrastructure.com[59](index=59&type=chunk) - The 2025 Interim Report will be dispatched to shareholders in due course and will be published on the Stock Exchange and the company's website[59](index=59&type=chunk) [By Order of the Board](index=23&type=section&id=%E6%89%BF%E8%91%A3%E4%BA%8B%E6%9C%83%E5%91%BD) This section lists the signatories of this announcement and the Board of Directors' members - The Board of Directors includes Executive Directors Mr. Li Chao Bo (Chairman and Chief Executive Officer) and Mr. Ji Jiaming; Non-executive Director Mr. Zhang Guiqing; and Independent Non-executive Directors Mr. Wu Chi Hao, Mr. Kwok Kin Wah, and Ms. Kwong Mei Wan[61](index=61&type=chunk)

Core Viewpoint - The company, China Urban Infrastructure (02349.HK), has announced a board meeting scheduled for August 29, 2025, to review and approve the unaudited consolidated financial statements for the six months ending June 30, 2025, and to consider the payment of an interim dividend, among other matters [1] Financial Summary - The board meeting will focus on the unaudited consolidated financial statements for the six months ending June 30, 2025 [1] - The company will also consider the potential payment of an interim dividend during this meeting [1] - Other unspecified matters will be addressed in the board 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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：2349） 董事會會議召開日期 中國城市基礎設施集團有限公司（「本公司」）董事會（「董事會」）宣佈，謹訂於二零 二五年八月二十九日（星期五）舉行董事會會議，藉以（其中包括）審議及批准本公司 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財務報表，以及 考慮派付中期股息（如有），以及處理其他事項。 承董事會命 中國城市基礎設施集團有限公司 公司秘書 陳愷賢 香港，二零二五年八月十五日 於本公告日期，董事會成員包括執行董事李朝波先生（主席兼行政總裁）及季加銘先 生；非執行董事張貴卿先生；以及獨立非執行董事吳志豪先生、郭堅華先生及鄺美 雲女士。 ...

截至月份: 2025年7月31日 狀態: 新提交 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 致：香港交易及結算所有限公司 公司名稱: 中國城市基礎設施集團有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2025年8月4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) | 02349 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.1 HKD | | 500,000,000 | 本月底法定/註冊 ...

Financial Performance - The group's consolidated revenue decreased by 6.5% from approximately HKD 51,800,000 for the year ended December 31, 2023, to approximately HKD 48,400,000 for the year ended December 31, 2024[10]. - Revenue from property investment and management was approximately HKD 33,400,000 and HKD 15,000,000 respectively, compared to HKD 36,400,000 and HKD 15,400,000 in 2023[10]. - Overall gross profit decreased by 2.1% from approximately HKD 32,500,000 in 2023 to approximately HKD 31,800,000 in 2024, while gross profit margin increased from 62.8% to 65.7%[10]. - The group recognized a net fair value loss of approximately HKD 79,500,000 on investment properties for the year ended December 31, 2024, compared to HKD 33,100,000 in 2023[10]. - Loss attributable to owners of the company was approximately HKD 65,800,000 for the year ended December 31, 2024, down from HKD 111,300,000 in 2023[10]. - The group's revenue from continuing operations decreased to approximately HKD 48.4 million for the year ended December 31, 2024, a decline of about 6.5% compared to HKD 51.8 million in the previous year[18]. - The gross profit decreased to approximately HKD 31.8 million, down by about HKD 0.7 million from HKD 32.5 million in the previous year, with a gross margin of 65.7%, up from 62.8%[20]. - Other operating income fell to approximately HKD 1.5 million, a decrease of about HKD 0.7 million from HKD 2.2 million in the previous year, primarily due to a reduction in interest income[21]. - Other operating expenses increased to approximately HKD 50.4 million, up from HKD 31.2 million in the previous year, mainly due to increased impairment losses on property inventory and assets[22]. - The group recorded a loss of approximately HKD 79.5 million from fair value changes of investment properties, compared to a loss of HKD 33.1 million in the previous year[23]. - The total borrowings amounted to approximately HKD 358.1 million, an increase from HKD 344.3 million in the previous year, with certain investment properties valued at approximately HKD 422.6 million mortgaged as collateral[30]. - The debt-to-equity ratio increased to approximately 57.9% from 50.5% in the previous year, primarily due to the net loss incurred during the year[31]. - The company reported its annual performance for the year ending December 31, 2024, with detailed financial statements available on page 74 of the report[49]. - No dividends were recommended for the year ending December 31, 2024[50]. - The company reported no distributable reserves as of December 31, 2024, in compliance with Cayman Islands company law[60]. - The board has decided not to declare a dividend for the year ending December 31, 2024, consistent with the previous year[62]. Property Management and Operations - The occupancy rate of the Future City shopping center reached 93.2% as of December 31, 2024, up from 88.6% in 2023[11]. - Rental income generated from investment properties was approximately HKD 33,400,000 for the year ended December 31, 2024, compared to HKD 36,400,000 in 2023[12]. - The group established Wuhan Future City Property Management Co., Ltd. to manage the Future City shopping center, which has a total leasable area of approximately 55,029 square meters[11]. - The total fair value of the Future City, Future Mansion parking lot, and Zhongshui Longyang Plaza parking lot was approximately HKD 1,036,600,000 as of December 31, 2024, down from HKD 1,051,600,000 in 2023[12]. Corporate Governance and Social Responsibility - The company emphasizes the importance of maintaining good relationships with suppliers and customers to achieve short-term and long-term goals[51]. - The company is committed to enhancing governance, promoting employee welfare, and protecting the environment to fulfill its social responsibilities and achieve sustainable growth[52]. - There were no significant violations of applicable environmental laws or regulations during the review year[53]. - The company strives to maintain high integrity in all business aspects and has implemented various internal control measures and training[54]. - The company has not entered into any significant contracts with directors or related parties during the year[76]. - Major shareholders owning 5% or more of the company's issued share capital will be disclosed in accordance with the Securities and Futures Ordinance[77]. - The audit committee, consisting of independent non-executive directors, reviewed the group's financial statements for the year ending December 31, 2024[83]. - The company has maintained directors' and senior officers' liability insurance during the year[90]. - The board emphasizes sustainable development and corporate social responsibility to enhance corporate image and reduce risks[99]. Employee and Workforce Management - The total number of employees as of December 31, 2024, was approximately 92, with total employee costs for the year amounting to approximately HKD 16.3 million[34]. - The total number of employees decreased from 119 in 2023 to 92 in 2024, indicating a significant change due to the sale of a subsidiary[166]. - The employee distribution by type shows 92 full-time employees and 0 part-time employees in 2024, compared to 119 full-time and 0 part-time in 2023[167]. - The gender distribution of employees in 2024 is 61 males and 31 females, compared to 76 males and 43 females in 2023, reflecting a decrease in both categories[170]. - The employee turnover rate for males in 2024 is 21.79% and for females is 27.91%, indicating a notable difference in retention[182]. - The turnover rate for employees under 30 years old is 20.59%, while for those aged 51 to 60 years old, it is 62.50%, showing a significant variance across age groups[184]. - The company maintained a zero incident record for work-related deaths and zero days lost due to occupational injuries over the past three years, including the 2024 reporting period[191]. - The company adheres to all employment laws and regulations in China and Hong Kong, with no disputes related to salary, compensation, or health benefits reported[165]. - The company provides statutory benefits to all eligible employees, including mandatory provident fund and social insurance, in compliance with local laws[165]. - The employee recruitment and assessment processes are transparent, ensuring equal opportunities regardless of age, race, religion, gender, or disability[165]. - The company is committed to providing a safe and comfortable working environment, continuously improving occupational safety and health management systems[189]. - Employee training participation rate increased to 25.00% in 2024 from 23.53% in 2023[195]. - Average training hours per employee rose to 1.96 hours in 2024, up from 1.41 hours in 2023[196]. - Average training hours for male employees increased to 2.75 hours in 2024 from 2.21 hours in 2023[196]. - Average training hours for female employees recorded at 0.39 hours in 2024, with no data for 2023[196]. - General staff maintained a consistent average training hour of 30.00 in 2024, compared to 28.00 in 2023[196]. - The company has not faced any labor lawsuits or allegations during the 2024 reporting period, consistent with 2023[198]. - The company adheres strictly to labor laws and employment regulations in China and Hong Kong, ensuring a safe and harmonious work environment[198]. - The company continues to support employee development through internal and on-the-job training programs[195]. - The company has established regular communication with employee representatives to discuss working conditions and safety issues[198]. Environmental, Social, and Governance (ESG) Initiatives - The group is committed to environmental, social, and governance (ESG) principles, focusing on reducing negative environmental impacts[97]. - The company operates in real estate-related businesses, including property development and management in Wuhan, China[97]. - The company prioritizes employee well-being by implementing health and wellness programs and promoting professional growth[100]. - The company aims to create long-term value for stakeholders through strong relationships and open dialogue[100]. - The company maintains the same environmental, social, and governance (ESG) management framework as the previous reporting period[102]. - The board regularly reviews and discusses annual environmental goals to ensure progress and compliance[103]. - The company adheres to the Hong Kong Stock Exchange's ESG reporting guidelines to fulfill its sustainable development objectives[103]. - Indirect CO2 emissions from the Hong Kong office increased by 7.82% to 11.31 tons in 2024, compared to 10.49 tons in 2023[119]. - Indirect CO2 emissions from Wuhan decreased by 21.50% to 2,517.10 tons in 2024, down from 3,206.30 tons in 2023[119]. - Total indirect CO2 emissions decreased by 21.40% to 2,528.41 tons in 2024, compared to 3,216.79 tons in 2023[119]. - CO2 emissions per employee in the Hong Kong office decreased by 33.59% to 0.87 tons in 2024, down from 1.31 tons in 2023[119]. - CO2 emissions per employee in Wuhan increased by 10.28% to 31.86 tons in 2024, compared to 28.89 tons in 2023[119]. - The company aims to reduce indirect CO2 emissions in both Wuhan and Hong Kong offices by 1% to 2% in the coming year[121]. - The company reported no violations of environmental laws or regulations in 2024, consistent with 2023 performance[118]. - The company plans to reduce overall paper consumption by 2% to 3% in the coming year[123]. - The company has not received any complaints regarding noise pollution during the reporting period, maintaining performance from 2023[121]. - The company has not received any complaints regarding wastewater discharge during the reporting period, consistent with 2023 performance[121]. - The electricity consumption in Hong Kong office increased by 11.04% to 17,131 kWh in 2024 from 15,428 kWh in 2023[128]. - Total electricity consumption decreased by 16.59% to 4,704,470.27 kWh in 2024 from 5,640,512.19 kWh in 2023[128]. - Water consumption in Wuhan significantly decreased by 79.07% to 17,287 cubic meters in 2024 from 82,656.36 cubic meters in 2023[131]. - The paper usage in Hong Kong office reduced by 66.67% to 12,000 sheets in 2024 from 36,000 sheets in 2023[133]. - The company aims to reduce electricity consumption by 1-2% under normal operating conditions in the coming year[128]. - The company plans to maintain the downward trend in water consumption and achieve an overall reduction of 1-2% in the coming year[132]. - The company has not reported any unreasonable resource usage during the reporting period[127]. - The company has implemented various measures to promote efficient use of resources, including electricity, water, and paper[127]. - The company has not received any environmental violation warnings or complaints during the reporting period[136]. - The company continues to support all possible measures for reduction, reuse, and recycling of resources[136]. - The board has identified global warming and reduction of paper usage as the two most significant climate issues impacting the company[137]. - The company has implemented policies to effectively utilize electricity to reduce indirect CO2 emissions, acknowledging that CO2 emissions are a primary cause of global warming[138]. - The management team plays a critical role in reviewing and responding to climate-related risks and opportunities, ensuring the implementation of board-established policies[139]. - The company has identified extreme weather events such as typhoons and heavy rain as acute physical risks that could lead to economic losses and increased operating costs[142]. - Measures have been established to mitigate the negative impacts of extreme weather, including securing equipment and notifying customers of potential delays[144]. - Long-term physical risks include increased electricity demand and operating costs due to prolonged high temperatures, which could lead to higher employee health risks[146]. - The company is exploring new technologies and sustainable materials to address transition risks associated with moving to a low-carbon system[150]. - The company aims to expand its product and service range to meet the growing demand for environmentally friendly options, addressing market and reputational risks[150]. - The company has set recent targets to demonstrate its commitment to carbon reduction efforts, responding to legal and policy risks related to stricter carbon reduction regulations[150]. - The company recognizes the need for increased transparency in carbon emissions reporting to maintain reputation and avoid potential stock price declines[150]. - The company recognizes climate change as a strategic business risk and integrates climate-related risks and opportunities into its overall business strategy[154]. - The company aims to reduce greenhouse gas emissions by 1-2% in the coming year through monitoring employee energy-saving behaviors[158]. - Indirect greenhouse gas emissions from electricity usage decreased by 21.40%, from 3,216.79 tons in 2023 to 2,528.41 tons in 2024[156]. - The company has implemented policies to reduce electricity consumption and plans to invest in more energy-efficient equipment and procedures in the near future[159]. - The company is actively seeking logistics partners that utilize electric vehicles or similar methods to minimize their carbon footprint[161]. - The company has updated its climate scenario analysis assessment method based on TCFD recommendations, evaluating climate risks and opportunities under two integrated scenarios[154]. - The company aims to enhance long-term resilience by comprehensively assessing, managing, and monitoring climate risks that may impact its operations[154]. - The company has established effective strategies and measures to manage significant climate risks affecting its value chain[154]. - The company continues to monitor key indicators, particularly greenhouse gas emissions, to assess climate-related risks[154]. - The company has taken measures to encourage employees to use water more efficiently to reduce consumption[160].