Core Viewpoint - Weili Holdings (02372.HK) reported a revenue decrease of approximately 19.7% year-on-year for the six months ending June 30, 2025, primarily due to a temporary reduction in orders from several major clients [1] Financial Performance - Revenue decreased to approximately RMB 45.844 million [1] - Gross profit increased by approximately 34.0% to about RMB 6.735 million [1] - Shareholders' profit amounted to approximately RMB 1.02 million, compared to a loss of approximately RMB 2.263 million in the same period last year [1] - Basic earnings per share were approximately RMB 0.1 cents [1] Order Trends - The overall revenue decline was mainly attributed to a temporary reduction in orders for transfer paper and composite paper products from several major clients [1] - The board believes that the reduction in orders is temporary and expects orders to recover in the second half of 2025 [1]

[Interim Results Summary](index=1&type=section&id=%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E6%91%98%E8%A6%81) [Overview of Financial Performance](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E8%A1%A8%E7%8F%BE%E6%A6%82%E8%A6%BD) Weili Holdings Limited, for the six months ended June 30, 2025, achieved gross profit growth and returned to profitability with positive basic earnings per share, despite a decrease in revenue, through effective cost control and operational efficiency improvements, while no interim dividend was declared | Metric | Six Months Ended June 30, 2025 (RMB million) | Six Months Ended June 30, 2024 (RMB million) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 45.8 | 57.1 | -19.7% | | Gross Profit | 6.7 | 5.0 | +34.0% | | Profit/(Loss) Attributable to Shareholders | 1.0 (Profit) | (2.3) (Loss) | Returned to Profitability | | Basic Earnings/(Loss) Per Share | 0.1 cent (Profit) | (0.3) cent (Loss) | Turned Positive | | Interim Dividend | None | None | No Change | [Interim Condensed Consolidated Financial Statements](index=2&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) [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%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company's revenue decreased by 19.7% year-on-year to RMB 45.8 million, but gross profit increased by 34.0% to RMB 6.7 million due to effective cost of sales control, successfully returning to profitability with RMB 1.0 million profit attributable to shareholders, compared to a loss of RMB 2.3 million in the prior period | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 45,844 | 57,061 | | Cost of Sales | (39,109) | (52,034) | | Gross Profit | 6,735 | 5,027 | | Operating Profit/(Loss) | 1,124 | (3,273) | | Profit/(Loss) for the Period | 1,020 | (2,263) | | Profit/(Loss) Attributable to Shareholders | 1,020 | (2,263) | | Basic Earnings/(Loss) Per Share | 0.1 cent | (0.3) cent | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company's total comprehensive profit for the period was RMB 1.02 million, consistent with profit for the period, indicating no other comprehensive income items, compared to a total comprehensive loss of RMB 2.263 million in the prior period | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Profit/(Loss) for the Period | 1,020 | (2,263) | | Other Comprehensive Income | – | – | | Total Comprehensive Profit/(Loss) for the Period | 1,020 | (2,263) | | Profit/(Loss) Attributable to Shareholders | 1,020 | (2,263) | [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%E8%A1%A8) As of June 30, 2025, the company's total assets slightly decreased to RMB 258.673 million, but net current assets increased. Total equity attributable to shareholders rose to RMB 211.74 million, while total liabilities decreased | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | **ASSETS** | | | | Non-current Assets | 42,860 | 45,158 | | Current Assets | 215,813 | 216,589 | | Total Assets | 258,673 | 261,747 | | **EQUITY** | | | | Total Equity | 211,740 | 210,720 | | **LIABILITIES** | | | | Non-current Liabilities | 1,520 | 1,542 | | Current Liabilities | 45,413 | 49,485 | | Total Liabilities | 46,933 | 51,027 | | Total Equity and Liabilities | 258,673 | 261,747 | | Net Current Assets | 170,400 | 167,104 | [Notes to the Interim Condensed Consolidated Financial Information](index=6&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E9%99%84%E8%A8%BB) [General Information](index=6&type=section&id=%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99) Weili Holdings Limited was incorporated in the Cayman Islands on April 21, 2021, primarily engaged in manufacturing and selling cigarette packaging paper in China. The company's shares have been listed on the Main Board of the Hong Kong Stock Exchange since June 30, 2022, and the interim financial information is presented in RMB and is unaudited - The company was incorporated in the Cayman Islands on **April 21, 2021**, primarily engaged in the manufacturing and sale of cigarette packaging paper in China[12](index=12&type=chunk) - The company's shares have been listed on the Main Board of the Hong Kong Stock Exchange since **June 30, 2022**[12](index=12&type=chunk) - This interim financial information is presented in **RMB** and is **unaudited**[12](index=12&type=chunk)[13](index=13&type=chunk) [Basis of Preparation](index=6&type=section&id=%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) The interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 and should be read in conjunction with the 2024 annual consolidated financial statements. Revisions to Hong Kong Financial Reporting Standards were first applied in this period but had no significant impact on financial position or performance - The interim financial information is prepared in accordance with **Hong Kong Accounting Standard 34 'Interim Financial Reporting'**[14](index=14&type=chunk) - Revisions to Hong Kong Financial Reporting Standards were first applied in this interim period but had **no significant impact** on the Group's financial position and performance[15](index=15&type=chunk) [Revenue and Segment Information](index=7&type=section&id=%E6%94%B6%E7%9B%8A%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The company primarily manufactures and sells cigarette packaging paper, with management viewing the business as a single segment. For the six months ended June 30, 2025, revenue mainly derived from the sale of cigarette packaging paper and raw materials, with processing service income being a smaller component. All revenue originated from external customers in China, with significant changes in the proportion of total revenue contributed by Customer 1 and Customer 2 - The Group is primarily engaged in the manufacturing and sale of cigarette packaging paper, and management considers the business as a **single segment**[16](index=16&type=chunk) Revenue by Source | Source of Revenue | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Sale of cigarette packaging paper and raw materials | 45,451 | 57,055 | | Processing service income | 393 | 6 | | **Total Revenue** | **45,844** | **57,061** | Revenue by Customer | Customer | 2025 % of Total Revenue | 2024 % of Total Revenue | | :--- | :--- | :--- | | Customer 1 | 47% | 19% | | Customer 2 | 16% | 41% | [Expenses by Nature](index=8&type=section&id=%E6%8C%89%E6%80%A7%E8%B3%AA%E5%8A%83%E5%88%86%E7%9A%84%E9%96%8B%E6%94%AF) For the six months ended June 30, 2025, the company's total expenses decreased to RMB 47.991 million from RMB 61.858 million in the prior period, primarily due to a significant reduction in the cost of raw materials and goods used | Expense Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Raw materials and goods used | 36,013 | 49,310 | | Staff costs | 4,773 | 5,557 | | Depreciation of property, plant and equipment and right-of-use assets | 1,905 | 1,543 | | Travel and entertainment expenses | 1,327 | 891 | | Professional service fees | 975 | 1,022 | | Freight charges | 725 | 1,166 | | Miscellaneous expenses | 145 | 358 | | **Total** | **47,991** | **61,858** | [Income Tax Expense/(Credit)](index=8&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF%2F%28%E6%8A%B5%E5%85%8D%29) For the six months ended June 30, 2025, the company recorded an income tax expense of RMB 0.381 million, compared to an income tax credit of RMB 0.849 million in the prior period, primarily due to a shift from loss to profit. The company's Chinese subsidiaries, as high-tech enterprises, enjoy a preferential income tax rate of 15% and a 200% super deduction for R&D expenses | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Current income tax — China current tax | – | (351) | | Deferred income tax | 381 | (498) | | **Income Tax Expense/(Credit)** | **381** | **(849)** | - Entities registered in the Cayman Islands and British Virgin Islands are **exempt from local taxation**[21](index=21&type=chunk) - Hong Kong subsidiaries made **no provision for Hong Kong profits tax** due to no estimated assessable profits[22](index=22&type=chunk) - Chinese subsidiaries, as high-tech enterprises, enjoy a **preferential income tax rate of 15%** and can deduct **200% of qualified R&D expenses** as tax-deductible expenses[23](index=23&type=chunk) [Cayman Islands and British Virgin Islands Profits Tax](index=8&type=section&id=%E9%96%8B%E6%9B%BC%E7%BE%A4%E5%B3%B6%E5%8F%8A%E8%8B%B1%E5%B1%AC%E8%99%95%E5%A5%B3%E7%BE%A4%E5%B3%B6%E5%88%A9%E5%BE%97%E7%A8%85) The company and its British Virgin Islands subsidiaries, as exempted companies, are not subject to taxation in the Cayman Islands and British Virgin Islands - The Company and its subsidiaries incorporated in the British Virgin Islands are **exempted companies** and are not subject to Cayman Islands and British Virgin Islands taxation[21](index=21&type=chunk) [Hong Kong Profits Tax](index=9&type=section&id=%E9%A6%99%E6%B8%AF%E5%88%A9%E5%BE%97%E7%A8%85) Hong Kong-incorporated subsidiaries are subject to profits tax at a rate of 16.5%, but no provision was made due to no estimated assessable profits during the reporting period - Hong Kong subsidiaries are subject to profits tax at a rate of **16.5%**, but no provision was made due to **no estimated assessable profits**[22](index=22&type=chunk) [PRC Enterprise Income Tax](index=9&type=section&id=%E4%B8%AD%E5%9C%8B%E4%BC%81%E6%A5%AD%E6%89%80%E5%BE%97%E7%A8%85) Chinese subsidiaries, as high-tech enterprises, enjoy a preferential income tax rate of 15% and can deduct 200% of qualified R&D expenses as tax-deductible expenses - Chinese subsidiaries are approved as high-tech enterprises, enjoying a **preferential income tax rate of 15%**[23](index=23&type=chunk) - Enterprises engaged in R&D activities are entitled to claim **200% of qualified R&D expenses** as tax-deductible expenses (super deduction)[23](index=23&type=chunk) [Earnings/(Loss) Per Share](index=9&type=section&id=%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9%2F%28%E虧損%29) For the six months ended June 30, 2025, the company achieved basic earnings per share of RMB 0.1 cent, turning around from a basic loss per share of RMB 0.3 cent in the prior period. Diluted earnings per share were the same as basic earnings per share | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit/(Loss) Attributable to Shareholders (RMB thousand) | 1,020 | (2,263) | | Weighted average number of ordinary shares (thousand shares) | 800,000 | 800,000 | | Basic Earnings/(Loss) Per Share (RMB) | 0.1 cent | (0.3) cent | - Diluted earnings/(loss) per share for the six months ended June 30, 2025 and 2024 were **identical to basic earnings/(loss) per share**[26](index=26&type=chunk) [Basic](index=9&type=section&id=%E5%9F%BA%E6%9C%AC) Basic earnings per share is calculated by dividing the profit attributable to the company's shareholders for the period by the weighted average number of ordinary shares in issue, which was RMB 0.1 cent for the current period - Basic earnings/(loss) per share is calculated by dividing the profit/(loss) attributable to the company's shareholders for the period by the **weighted average number of ordinary shares in issue**[24](index=24&type=chunk) [Diluted](index=9&type=section&id=%E6%94%A4%E8%96%84) Diluted earnings/(loss) per share for the six months ended June 30, 2025 and 2024 were identical to basic earnings/(loss) per share, indicating no potential dilutive ordinary shares - Diluted earnings/(loss) per share for the six months ended June 30, 2025 and 2024 were **identical to basic earnings/(loss) per share**[26](index=26&type=chunk) [Dividends](index=10&type=section&id=%E8%82%A1%E6%81%AF) The Board has resolved not to recommend the declaration of an interim dividend for the six months ended June 30, 2025, consistent with the prior period - The Company did not declare any interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: **nil**)[27](index=27&type=chunk) [Trade Receivables](index=10&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) As of June 30, 2025, net trade receivables significantly decreased to RMB 67.325 million from RMB 104.249 million as of December 31, 2024. The credit period generally ranges from 60 to 180 days, and the aging analysis shows a decrease in receivables across all terms Trade Receivables - Net | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade receivables | 71,513 | 111,282 | | Less: Loss allowance | (4,188) | (7,033) | | **Trade receivables — net** | **67,325** | **104,249** | - The credit period for trade receivables generally ranges from **60 to 180 days** from the invoice date[28](index=28&type=chunk) Aging Analysis of Trade Receivables | Aging | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Within 30 days | 21,744 | 29,245 | | 31 to 90 days | 9,256 | 15,255 | | 91 to 180 days | 5,671 | 30,409 | | 181 days to 1 year | 17,758 | 15,530 | | Over 1 year | 17,084 | 20,843 | | **Total** | **71,513** | **111,282** | [Bills Receivable](index=11&type=section&id=%E6%87%89%E6%94%B6%E7%A5%A8%E6%93%9A) As of June 30, 2025, bills receivable amounted to RMB 8.942 million, a decrease from RMB 10.722 million as of December 31, 2024. No bills receivable measured at fair value through other comprehensive income were pledged as collateral at the end of the period Bills Receivable | Metric | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Bills receivable | 8,942 | 10,722 | - As of June 30, 2025, the Group had **no bills receivable measured at fair value through other comprehensive income pledged** to secure the Group's bills payable (December 31, 2024: RMB 3,000,000)[30](index=30&type=chunk) [Trade and Other Payables](index=11&type=section&id=%E8%B2%BF%E6%98%93%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 slightly decreased to RMB 45.403 million from RMB 47.485 million as of December 31, 2024, with a reduction in trade payables and an increase in bills payable Trade and Other Payables | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade payables | 27,404 | 32,067 | | Bills payable | 15,600 | 9,694 | | Accrued staff welfare | 986 | 1,460 | | Other accrued expenses | 1,106 | 3,864 | | Refund liabilities | 261 | 215 | | Other taxes payable other than income tax liabilities | 46 | 185 | | **Total** | **45,403** | **47,485** | - Aging analysis of trade payables shows a **significant increase in payables within 30 days**, while payables from 91 to 180 days and over 1 year decreased[31](index=31&type=chunk) - As of June 30, 2025, bills payable were **secured by the Group's bank deposits, buildings, and land use rights**[32](index=32&type=chunk) [Share Capital](index=12&type=section&id=%E8%82%A1%E6%9C%AC) As of June 30, 2025, and December 31, 2024, the company's authorized ordinary share capital remained unchanged at 10,000,000 thousand shares, with 800,000 thousand shares issued and share capital of RMB 6.842 million Share Capital | Item | Number of Shares (thousand shares) | Amount (RMB thousand) | | :--- | :--- | :--- | | Authorized ordinary shares | 10,000,000 | 100,000 (HKD) | | Issued shares | 800,000 | 6,842 | [Management Discussion and Analysis](index=13&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) [Business Review and Future Outlook](index=13&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7%E8%88%87%E6%9C%AA%E4%BE%86%E5%B1%95%E6%9C%9B) Weili Holdings, a Chinese cigarette packaging paper manufacturer, primarily supplies customized products to manufacturers in Hubei and Henan. During the reporting period, despite a temporary decrease in orders from key customers leading to lower revenue, gross profit increased and the company returned to profitability through cost control and operational efficiency improvements. The company anticipates order recovery in the second half of 2025 and is optimistic about the future prospects of the mid-to-high-end cigarette packaging paper market - The Group is a **Chinese cigarette packaging paper manufacturer** with R&D capabilities to supply customized products, primarily serving customers in Hubei and Henan provinces[34](index=34&type=chunk) - During the reporting period, certain key customers temporarily reduced orders for transfer paper and composite paper, but **gross profit margin improved** and **impairment losses were reversed** due to reduced trade receivables balances, ultimately achieving a **turnaround from loss to profit** through effective operational cost control and efficiency improvements[35](index=35&type=chunk) - Directors anticipate the sales decrease is temporary, with orders expected to **recover in the second half of 2025**, and are optimistic about the cigarette packaging paper industry's prospects driven by the shift towards mid-to-high-end products and increased consumer purchasing power[35](index=35&type=chunk)[36](index=36&type=chunk) [Financial Performance Analysis](index=14&type=section&id=%E8%B2%A1%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%88%86%E6%9E%90) This section details the changes in financial metrics and their primary drivers during the reporting period. Revenue declined mainly due to reduced orders from key customers, but effective cost of sales control and operational efficiency improvements led to significant growth in gross profit and gross margin, ultimately achieving a return to profitability. Selling expenses increased due to market expansion, administrative expenses decreased due to lower staff and professional consultant costs, and financial asset loss allowances were reversed due to reduced trade receivables [Revenue](index=14&type=section&id=%E6%94%B6%E7%9B%8A) The Group's overall revenue decreased by 19.7% from approximately RMB 57.1 million in the prior period of 2024 to approximately RMB 45.8 million in the reporting period, primarily due to a temporary reduction in orders from key customers - Revenue decreased by approximately **19.7% to RMB 45.8 million** (2024 prior period: RMB 57.1 million)[37](index=37&type=chunk) - The primary reason was a temporary reduction in orders for transfer paper and composite paper products from certain key customers, with directors expecting orders to **recover in the second half of 2025**[37](index=37&type=chunk) [Cost of Sales](index=14&type=section&id=%E9%8A%B7%E5%94%AE%E6%88%90%E6%9C%AC) Cost of sales decreased by 24.8% from approximately RMB 52.0 million in the prior period of 2024 to approximately RMB 39.1 million in the reporting period, primarily due to the combined effect of reduced revenue and effective operating cost control measures - Cost of sales decreased by approximately **24.8% to RMB 39.1 million** (2024 prior period: RMB 52.0 million)[38](index=38&type=chunk) - Primarily due to a **19.7% decrease in revenue** and the Group's **effective operating cost control measures**[38](index=38&type=chunk) [Gross Profit and Gross Profit Margin](index=14&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit increased by 34.0% from approximately RMB 5.0 million in the prior period of 2024 to approximately RMB 6.7 million in the reporting period. Gross profit margin rose from approximately 8.8% to 14.7%, primarily benefiting from effective operating cost control measures and improved operational efficiency - Gross profit increased by approximately **34.0% to RMB 6.7 million** (2024 prior period: RMB 5.0 million)[39](index=39&type=chunk) - Gross profit margin increased from approximately **8.8% to 14.7%**, primarily due to **effective operating cost control measures** and **improved operational efficiency**[39](index=39&type=chunk) [Selling Expenses](index=14&type=section&id=%E9%8A%B7%E5%94%AE%E9%96%8B%E6%94%AF) Selling expenses increased by 9.1% from approximately RMB 2.5 million in the prior period of 2024 to approximately RMB 2.7 million in the reporting period, primarily due to increased market development and sales costs to expand the customer base in Henan and Hubei - Selling expenses increased by approximately **9.1% to RMB 2.7 million** (2024 prior period: RMB 2.5 million)[40](index=40&type=chunk) - Primarily due to increased market development and sales costs to **expand the customer base in Henan and Hubei** and enhance sales volume[40](index=40&type=chunk) [Administrative Expenses](index=15&type=section&id=%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) Administrative expenses decreased from approximately RMB 7.3 million in the prior period of 2024 to approximately RMB 6.1 million in the reporting period, primarily due to lower staff costs and professional consultant fees - Administrative expenses decreased to **RMB 6.1 million** (2024 prior period: RMB 7.3 million)[41](index=41&type=chunk) - Primarily due to a **decrease in staff costs and professional consultant fees** during the reporting period[41](index=41&type=chunk) [Reversal of Loss Allowance for Financial Assets](index=15&type=section&id=%E9%87%91%E8%9E%8D%E8%B3%87%E7%94%A2%E虧損%E6%92%A5%E5%82%99%E4%B9%8B%E6%92%A5%E5%9B%9E) The reversal of loss allowance for financial assets increased from approximately RMB 0.9 million in the prior period of 2024 to approximately RMB 2.7 million in the reporting period, primarily due to a decrease in outstanding trade receivables - Reversal of loss allowance for financial assets increased to **RMB 2.7 million** (2024 prior period: RMB 0.9 million)[42](index=42&type=chunk) - Primarily due to a **decrease in the outstanding amount of trade receivables** as of June 30, 2025[42](index=42&type=chunk) [Other Income](index=15&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5) Other income remained stable at approximately RMB 0.4 million during the reporting period, primarily from income-related government grants - Other income remained **stable at approximately RMB 0.4 million**[43](index=43&type=chunk) - Primarily derived from **income-related government grants**[43](index=43&type=chunk) [Other Gains — Net](index=15&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%20%E2%80%94%20%E6%B7%A8%E9%A1%8D) Other gains — net decreased from approximately RMB 0.2 million in the prior period of 2024 to approximately RMB 0.1 million in the reporting period, primarily due to the combined effect of increased exchange losses and decreased non-operating income - Other gains — net decreased to **RMB 0.1 million** (2024 prior period: RMB 0.2 million)[44](index=44&type=chunk) - Primarily due to the combined effect of **increased exchange losses and decreased non-operating income**[44](index=44&type=chunk) [Finance Income — Net](index=15&type=section&id=%E8%9E%8D%E8%B3%87%E6%94%B6%E5%85%A5%20%E2%80%94%20%E6%B7%A8%E9%A1%8D) Finance income — net increased from approximately RMB 0.2 million in the prior period of 2024 to approximately RMB 0.3 million in the reporting period, primarily due to a decrease in bank borrowing interest expenses - Finance income — net increased to **RMB 0.3 million** (2024 prior period: RMB 0.2 million)[45](index=45&type=chunk) - Primarily due to a **decrease in bank borrowing interest expenses** during the reporting period[45](index=45&type=chunk) [Income Tax (Expense)/Credit](index=16&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%EF%BC%88%E9%96%8B%E6%94%AF%EF%BC%89%E2%88%95%E6%8A%B5%E5%85%8D) During the reporting period, the company recorded a profit before income tax of approximately RMB 1.4 million, compared to a loss of approximately RMB 3.1 million in the prior period, primarily benefiting from increased gross profit due to cost control measures. Income tax shifted from a credit in the prior period to an expense in the current period, reflecting improved profitability - Profit before income tax of approximately **RMB 1.4 million** was recorded during the reporting period, compared to a loss of approximately RMB 3.1 million in the 2024 prior period[46](index=46&type=chunk) - Income tax shifted from a **credit of approximately RMB 0.8 million** in the 2024 prior period to an **expense of approximately RMB 0.4 million** in the reporting period, primarily due to a change from a loss before income tax to a profit before income tax[46](index=46&type=chunk) [Profit/(Loss) and Total Comprehensive Income/(Loss)](index=16&type=section&id=%E6%BA%A2%E5%88%A9%E2%88%95%EF%BC%88%E虧損%EF%BC%89%E5%8F%8A%E5%85%A8%E9%9D%A2%E6%94%B6%E5%85%A5%E2%88%95%EF%BC%88%E虧損%EF%BC%89%E7%B8%BD%E9%A1%8D) The Group recorded a profit and total comprehensive income of approximately RMB 1.0 million during the reporting period, a significant improvement from a loss and total comprehensive loss of approximately RMB 2.3 million in the prior period, primarily attributable to reduced cost of sales, increased gross profit due to cost control measures, and the reversal of impairment losses from decreased trade receivables balances - Profit and total comprehensive income of approximately **RMB 1.0 million** was recorded during the reporting period, compared to a loss and total comprehensive loss of approximately RMB 2.3 million in the 2024 prior period[47](index=47&type=chunk) - This change was primarily due to **reduced cost of sales** from cost control measures, leading to **increased gross profit**, and the **reversal of impairment losses** due to decreased trade receivables balances[47](index=47&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=16&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90%E5%8F%8A%E8%B3%87%E6%9C%AC%E7%B5%90%E6%A7%8B) The Group's capital structure has remained unchanged since the listing date. As of June 30, 2025, cash and cash equivalents increased to approximately RMB 64.5 million, and bank borrowings significantly decreased to RMB 10 thousand. The gearing ratio substantially declined to approximately 0.0%, indicating a robust financial position - The Group's **capital structure remained unchanged** from the listing date to the date of this announcement[48](index=48&type=chunk) Liquidity and Gearing | Metric | June 30, 2025 (RMB million) | December 31, 2024 (RMB million) | | :--- | :--- | :--- | | Cash and cash equivalents | 64.5 | 53.2 | | Bank borrowings | 0.01 | 2.0 | | Gearing ratio | 0.0% | 0.9% | - As of June 30, 2025, the Group had **no unutilized bank loans**[48](index=48&type=chunk) [Treasury Policy](index=17&type=section&id=%E5%BA%AB%E5%8B%99%E6%94%BF%E7%AD%96) The Group implements strict internal control policies to manage investment activities, ensuring investments aim to preserve capital and liquidity, and are conducted under the review and approval of the Board and management team. The company adopts a prudent approach to selecting investment products and assesses whether sufficient working capital remains after investment - The Group has implemented a series of internal control policies and regulations for investments to ensure they are for the purpose of **preserving capital and liquidity**[50](index=50&type=chunk) - The finance department manages investment activities, with strategies and decisions subject to **review and approval by the Board and management team**[50](index=50&type=chunk) - The Group adopts a **prudent approach to selecting investment products** and assesses whether **sufficient working capital remains** after investment[50](index=50&type=chunk) [Foreign Exchange Risk](index=17&type=section&id=%E5%A4%96%E5%8C%AF%E9%A2%A8%E9%9A%AA) The Group primarily transacts in RMB but holds some Hong Kong dollar listing proceeds, exposing it to foreign exchange risk. The Board believes there was no significant foreign exchange risk during the reporting period, and no foreign exchange hedging was undertaken - The Group primarily transacts in **RMB** but holds certain listing proceeds in **HKD**, exposing it to foreign exchange risk[51](index=51&type=chunk) - The Board believes there was **no significant foreign exchange risk** for the Group during the reporting period, and **no foreign exchange hedging** was undertaken[51](index=51&type=chunk) [Capital Expenditure](index=17&type=section&id=%E8%B3%87%E6%9C%AC%E9%96%8B%E6%94%AF) During the reporting period, the Group incurred capital expenditure of approximately RMB 2.1 million for the purchase of machinery, an increase compared to the prior period - During the reporting period, the Group incurred capital expenditure of approximately **RMB 2.1 million** for the purchase of machinery[52](index=52&type=chunk) - In the prior period, approximately RMB 0.6 million was incurred for machinery purchases and approximately RMB 0.4 million for electronic and other equipment purchases[52](index=52&type=chunk) [Capital Commitments and Contingent Liabilities](index=18&type=section&id=%E8%B3%87%E6%9C%AC%E6%89%BF%E6%93%94%E5%8F%8A%E6%88%96%E6%9C%89%E8%B2%A0%E5%82%B5) As of June 30, 2025, and December 31, 2024, the Group had no capital commitments or significant contingent liabilities - As of June 30, 2025, and December 31, 2024, the Group had **no capital commitments**[53](index=53&type=chunk) - As of June 30, 2025, and December 31, 2024, the Group had **no significant contingent liabilities**[54](index=54&type=chunk) [Significant Acquisitions or Disposals and Future Investment Plans](index=18&type=section&id=%E9%87%8D%E5%A4%A7%E6%94%B6%E8%B3%BC%E6%88%96%E5%87%BA%E5%94%AE%E4%BA%8B%E9%A0%85%E5%8F%8A%E6%9C%AA%E4%BE%86%E6%8A%95%E8%B3%87%E8%A8%88%E5%8A%83) During the reporting period, the Group had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures. As of June 30, 2025, the Group had no future plans for significant investments or capital assets, other than those disclosed in the prospectus business plan - During the reporting period, the Group had **no significant acquisitions or disposals** of any subsidiaries, associates, or joint ventures[55](index=55&type=chunk) - Other than the business plans disclosed in the prospectus, as of June 30, 2025, the Group had **no future plans for significant investments or capital assets**[55](index=55&type=chunk) [Significant Investments Held](index=18&type=section&id=%E6%89%80%E6%8C%81%E6%9C%89%E7%9A%84%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87) During the reporting period, the Group held no significant investments - During the reporting period, the Group **held no significant investments**[56](index=56&type=chunk) [Pledge of Assets](index=18&type=section&id=%E8%B3%87%E7%94%A2%E8%B3%AA%E6%8A%BC) As of June 30, 2025, buildings with a net book value of approximately RMB 6.4 million and leasehold land use rights of approximately RMB 2.8 million were pledged to secure bills payable. Restricted cash was also pledged as collateral for bank acceptance bills - As of June 30, 2025, buildings with a net book value of approximately **RMB 6.4 million** were pledged to secure the Group's bills payable (December 31, 2024: approximately RMB 9.9 million)[57](index=57&type=chunk) - As of June 30, 2025, leasehold land use rights with a net book value of approximately **RMB 2.8 million** were pledged as security for the Group's bills payable[57](index=57&type=chunk) - The Group's **restricted cash** refers to bank deposits pledged to banks for the issuance of bank acceptance bills to settle future payments to the Group's suppliers[58](index=58&type=chunk) [Interim Dividend](index=19&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board has resolved not to recommend the declaration of an interim dividend for the reporting period, consistent with the prior period - The Board has resolved **not to recommend the declaration of an interim dividend** for the reporting period (six months ended June 30, 2024: nil)[59](index=59&type=chunk) [Use of Proceeds](index=19&type=section&id=%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%94%A8%E9%80%94) The net proceeds from the listing were approximately HKD 90.3 million. As of June 30, 2025, approximately HKD 40.8 million had been utilized, primarily for acquiring printing and positioning slitting machines, and enhancing production capacity and efficiency. Approximately HKD 49.5 million remains unutilized, expected to be used for capacity enhancement, R&D, and marketing before December 31, 2025 - Net proceeds from the listing (after deducting related expenses) were approximately **HKD 90.3 million**[60](index=60&type=chunk) Use of Net Proceeds | Description | Intended Use of Proceeds (HKD million) | Amount Utilized as of June 30, 2025 (HKD million) | Amount Unutilized as of June 30, 2025 (HKD million) | Expected Timeline for Net Proceeds | | :--- | :--- | :--- | :--- | :--- | | Enhance the Group's production capacity, efficiency, and expand product portfolio | 33.3 | 2.3 | 31.0 | Before December 31, 2025 | | Strengthen the Group's R&D capabilities | 17.6 | 1.1 | 16.5 | Before December 31, 2025 | | Improve the Group's ERP and infrastructure systems | 0.1 | 0.1 | – | Fully utilized | | Increase the Group's marketing efforts | 2.6 | 0.6 | 2.0 | Before December 31, 2025 | | Acquire printing and positioning slitting machines for producing colored cigarette packaging paper | 22.9 | 22.9 | – | Fully utilized | | Reserved for the Group's general working capital | 13.8 | 13.8 | – | Fully utilized | | **Total** | **90.3** | **40.8** | **49.5** | | - As of June 30, 2025, all net proceeds have been utilized in accordance with the prospectus disclosure and the company's announcement on October 27, 2023, regarding the acquisition of machinery and change in use of net proceeds[63](index=63&type=chunk) [Events After the 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) The temporary decrease in sales orders during the reporting period was primarily attributed to small-scale trial production, experimental testing, and initial verification for new customers, as well as a transitional period due to major customer product upgrades. The Board considers these impacts temporary and expects order volumes to recover with product generation completion and commercialization of new orders. There were no other significant events from the end of the reporting period to the date of this announcement - The temporary decrease in sales orders during the reporting period was primarily attributed to **small-scale trial production, experimental testing, and initial verification for new customers**, and a **transitional period due to major customer product upgrades**[64](index=64&type=chunk) - The Board considers these impacts **temporary** and expects order volumes to **recover in the foreseeable future**[64](index=64&type=chunk) - There were **no significant events** from the end of the reporting period to the date of this announcement[67](index=67&type=chunk) [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 had 85 employees, a decrease from 109 in the prior period. Total staff costs amounted to approximately RMB 4.8 million. The company adjusts remuneration and promotions through annual appraisals and provides diverse on-the-job training. The company participates in defined contribution retirement schemes for its Chinese employees - As of June 30, 2025, the Group had **85 employees** (June 30, 2024: 109 employees)[65](index=65&type=chunk) - Total staff costs incurred by the Group during the reporting period were approximately **RMB 4.8 million** (2024 prior period: RMB 5.6 million)[65](index=65&type=chunk) - The company assesses employee performance through annual appraisals and provides **new employee induction training, on-the-job training, team-building training, and external training**[65](index=65&type=chunk) - The Group participates in various **defined contribution retirement schemes** for its Chinese employees in accordance with PRC regulations[66](index=66&type=chunk) [Other Information](index=21&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) [Corporate Governance Code](index=21&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) The company is committed to maintaining high standards of corporate governance and has complied with the applicable code provisions of the Corporate Governance Code set out in Appendix C1 to the Listing Rules - The Company has **complied with the applicable code provisions** of the Corporate Governance Code set out in Appendix C1 to the Listing Rules[68](index=68&type=chunk) [Model Code for Securities Transactions](index=22&type=section&id=%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) The company has adopted the Model Code set out in Appendix C3 to the Listing Rules as the required standard for directors' securities transactions and confirms that all directors complied with the code during the reporting period - The Company has adopted the **Model Code for Securities Transactions by Directors of Listed Issuers** set out in Appendix C3 to the Listing Rules[69](index=69&type=chunk) - All Directors confirmed compliance with the required standards set out in the Model Code for the six months ended June 30, 2025, and up to the date of this announcement[69](index=69&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=22&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) From the six months ended June 30, 2025, to the date of this announcement, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - From the six months ended June 30, 2025, to the date of this announcement, **neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities**[70](index=70&type=chunk) [Directors' Interests in Material Transactions, Arrangements or Contracts](index=22&type=section&id=%E8%91%A3%E4%BA%8B%E6%96%BC%E9%87%8D%E5%A4%A7%E4%BA%A4%E6%98%93%E3%80%81%E5%AE%89%E6%8E%92%E6%88%96%E5%90%88%E7%B4%84%E7%9A%84%E6%AC%8A%E7%9B%8A) As of June 30, 2025, or at any time during the reporting period, no material transactions, arrangements, or contracts related to the company's business existed in which a director or their connected entity had a direct or indirect material interest - As of June 30, 2025, or at any time during the six months ended June 30, 2025, **no material transactions, arrangements, or contracts** related to the Company's business existed in which a Director or a Director's connected entity had a direct or indirect material interest[71](index=71&type=chunk) [Directors' and Chief Executive's Interests in Shares of the Company and its Associated Corporations](index=22&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E6%9C%80%E9%AB%98%E8%A1%8C%E6%94%BF%E4%BA%BA%E5%93%A1%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E7%9B%B8%E8%81%AF%E6%B3%95%E5%9C%98%E7%9A%84%E8%82%A1%E6%AC%8A%E6%AC%8A%E7%9B%8A) As of June 30, 2025, Executive Directors Mr. Chan Wai Chong and Mr. Yu Tianbing held 42.38% and 12.00% equity interests in the company, respectively, through controlled corporations. Other than these, no other directors or chief executives held disclosable equity interests Directors' and Chief Executive's Interests | Name of Director | Capacity/Nature of Interest | Number of Shares Held/Interested (L) | Percentage | | :--- | :--- | :--- | :--- | | Mr. Chan Wai Chong | Interest in controlled corporation | 339,040,000 | 42.38% | | Mr. Yu Tianbing | Interest in controlled corporation | 96,000,000 | 12.00% | - Mr. Chan Wai Chong holds shares through **City Ease Limited**, which is wholly owned by him, and Mr. Yu Tianbing holds shares through **Wing Ning Limited**, which is wholly owned by him[76](index=76&type=chunk) - Save as disclosed above, **no other Directors or chief executives held any interests or short positions** required to be disclosed under the Securities and Futures Ordinance[75](index=75&type=chunk) [Substantial Shareholders' Interests in Shares of the Company](index=24&type=section&id=%E4%B8%BB%E8%A6%81%E8%82%A1%E6%9D%B1%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E6%AC%8A%E6%AC%8A%E7%9B%8A) As of June 30, 2025, substantial shareholders included City Ease Limited (wholly owned by Mr. Chan Wai Chong) and his spouse Ms. Liu Yuechu, each holding 42.38% interest; Kai Tung Limited holding 18.37% interest; and Wing Ning Limited (wholly owned by Mr. Yu Tianbing) and his spouse Ms. Zhou Huaqin, each holding 12.00% interest Substantial Shareholders' Interests | Name of Shareholder | Capacity/Nature of Interest | Number of Shares Held/Interested (L) | Percentage of Interest | | :--- | :--- | :--- | :--- | | City Ease Limited | Beneficial owner | 339,040,000 | 42.38% | | Ms. Liu Yuechu | Interest of spouse | 339,040,000 | 42.38% | | Kai Tung Limited | Beneficial owner | 146,960,000 | 18.37% | | Wing Ning Limited | Beneficial owner | 96,000,000 | 12.00% | | Ms. Zhou Huaqin | Interest of spouse | 96,000,000 | 12.00% | - City Ease Limited is **wholly owned by Mr. Chan Wai Chong**, and Ms. Liu Yuechu is Mr. Chan Wai Chong's spouse[78](index=78&type=chunk) - Wing Ning Limited is **wholly owned by Mr. Yu Tianbing**, and Ms. Zhou Huaqin is Mr. Yu Tianbing's spouse[78](index=78&type=chunk)[82](index=82&type=chunk) - Kai Tung Limited is held by Mr. Hu Haoran (Non-executive Director) and other shareholders, and neither he nor his close associates control one-third or more of the voting rights at Kai Tung's general meetings[78](index=78&type=chunk) [Share Option Scheme](index=25&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company adopted a share option scheme on June 2, 2022. As of June 30, 2025, the number of share options available for grant under the scheme was 80,000,000 shares, representing 10% of the issued shares. Since adoption, no share options have been granted, exercised, cancelled, or lapsed - The Company conditionally adopted a **share option scheme on June 2, 2022**[80](index=80&type=chunk) - As of June 30, 2025, the number of share options available for grant under the share option scheme was **80,000,000 shares**, representing **10% of the issued shares**[80](index=80&type=chunk) - Since the adoption of the share option scheme, **no share options have been granted, exercised, cancelled, or lapsed** under the scheme[80](index=80&type=chunk) [Management Contracts](index=25&type=section&id=%E7%AE%A1%E7%90%86%E5%90%88%E7%B4%84) During the reporting period, no management and administration contracts concerning the whole or any substantial part of the company's business were entered into or subsisted, other than service contracts with any director or any person employed full-time by the company - During the reporting period, **no management and administration contracts** concerning the whole or any substantial part of the Company's business were entered into or subsisted, other than service contracts with any Director or any person employed full-time by the Company[81](index=81&type=chunk) [Sufficiency of Public Float](index=26&type=section&id=%E8%B6%B3%E5%A4%A0%E5%85%AC%E7%9C%BE%E6%8C%81%E8%82%A1%E9%87%8F) Based on publicly available information and to the best of the Directors' knowledge, at least 25% of the company's total issued share capital was held by the public during the reporting period and up to the date of this announcement, meeting listing requirements - During the reporting period and up to the date of this announcement, at least **25% of the Company's total issued share capital was held by the public**[83](index=83&type=chunk) [Audit Committee](index=26&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The company established an Audit Committee on June 2, 2022, comprising three independent non-executive directors, chaired by Mr. Chan Yeung Tak. Its primary responsibilities include advising on external auditors, reviewing financial statements, and overseeing financial reporting, internal control, and risk management systems - The Company established an Audit Committee on **June 2, 2022**, comprising **three independent non-executive Directors**, chaired by **Mr. Chan Yeung Tak**[84](index=84&type=chunk) - The Audit Committee's primary responsibilities include recommending the appointment, reappointment, and removal of external auditors, reviewing financial statements and providing significant opinions on financial reporting, and overseeing the Company's financial reporting process, internal control, risk management systems, and audit procedures[84](index=84&type=chunk) [Review of Interim Financial Results by Audit Committee](index=26&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83%E5%AF%A9%E9%96%B1%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E6%A5%AD%E7%B8%BE) The Group's unaudited consolidated interim financial information for the six months ended June 30, 2025, and the accounting information contained in this announcement have been reviewed by the Audit Committee, which agreed with the accounting treatments adopted by the company and deemed them compliant with applicable accounting standards and requirements, and adequately disclosed - The Group's **unaudited consolidated interim financial information** for the six months ended June 30, 2025, and the accounting information contained in this announcement have been **reviewed by the Audit Committee**[85](index=85&type=chunk) - The Audit Committee agreed with the accounting treatments adopted by the Company and considered that the preparation of such accounting information complied with applicable accounting standards and requirements, as well as the Listing Rules, and was **adequately disclosed**[85](index=85&type=chunk) [Publication of Interim Results and Interim Report](index=26&type=section&id=%E5%88%8A%E7%99%BC%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) The interim results announcement has been published on the company's website and the Stock Exchange website. The interim report for the six months ended June 30, 2025, will be published in due course as required by the Listing Rules - The interim results announcement has been published on the Company's website **www.weiliholdings.com** and the Stock Exchange website **www.hkexnews.hk**[86](index=86&type=chunk) - The Company's interim report for the six months ended June 30, 2025, will be **published in due course** by the Company as required by the Listing Rules[86](index=86&type=chunk) [Acknowledgement](index=27&type=section&id=%E8%87%B4%E8%AC%9D) [Acknowledgement](index=27&type=section&id=%E8%87%B4%E8%AC%9D) The Board sincerely thanks the Group's management and all employees for their hard work and dedication, as well as shareholders, business partners, and other professionals for their support during the period. This announcement is issued by Mr. Chan Wai Chong, Chairman and Executive Director, on behalf of the Board - The Board thanks the Group's management and all employees for their **hard work and dedication**[87](index=87&type=chunk) - The Board also thanks shareholders, business partners, and other professionals for their **support during the period**[87](index=87&type=chunk) - This announcement is issued by **Mr. Chan Wai Chong, Chairman and Executive Director**, on behalf of the Board[87](index=87&type=chunk)

Core Viewpoint - 伟立控股 (02372) expects to achieve a net profit ranging from approximately RMB 800,000 to RMB 1,500,000 for the six months ending June 30, 2025, compared to a net loss of approximately RMB 2,300,000 for the six months ending June 30, 2024 [1] Group 1 - The expected turnaround from loss to profit is primarily attributed to an improvement in gross margin, reflecting the effectiveness of implemented cost control measures and enhanced operational efficiency [1] - A reduction in trade receivables is anticipated to lead to a reversal of impairment losses for the six months ending June 30, 2025 [1]

预期扭亏为盈主要归因于：(i)毛利率改善，反映了成功实施的经营成本控制措施行之有效，经营效率有 所提升;(ii)由于贸易应收款项结余减少，截至2025年6月30日止六个月拨回减值亏损。 伟立控股(02372)发布公告，集团预期于截至2025年6月30日止六个月取得净溢利介于约人民币80万元至 约150万元，而截至2024年6月30日止六个月则取得净亏损约人民币230万元。 ...

格隆汇8月18日丨伟立控股(02372.HK)发布公告，集团预期于截至2025年6月30日止六个月录得净溢利介 乎约人民币80万元至约人民币150万元，而截至2024年6月30日止六个月则录得净亏损约人民币230万 元。 公告称，预期扭亏为盈主要归因于：(i)毛利率改善，反映了成功实施的经营成本控制措施行的有效，经 营效率有所提升；(ii)由于贸易应收款项结余减少，截至2025年6月30日止六个月拨回减值亏损。 ...

香 港 交易 及 結 算 所 有限 公 司 及 香港 聯 合 交 易 所有 限 公 司 對 本公 告 的 內 容概 不 負 責， 對 其 準 確 性或 完 整 性 亦不 發 表 任 何 聲明 ， 並 明 確 表示 概 不 就 因本 公 告 全部 或 任 何 部 分內 容 而 產 生或 因 依 賴 該 等內 容 而 引 致 的任 何 損 失 承擔 任何責任。 WEIli Holdings Limited 正面盈利預警 本公告由偉立控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根 據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及香港法 例 第 571 章 證 券 及 期 貨 條 例 第 XIVA 部 內 幕 消 息 條 文（ 定 義 見 上 市 規 則 ）作 出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東（「股東」）及潛在投 資者，根據對本集團截至2025年6月30日止六個月未經審核綜合管理賬目的 初步審閱及本公司可獲得的資料，本集團預期於截至2025年6月30日止六個 月錄得淨溢利介乎約人民幣0.8百萬元至約人民幣1.5百萬元，而截至2024年 6月30日止六個月則 ...

承董事會命 偉立控股有限公司 董事長兼執行董事 陳偉莊 香港，2025年8月8日 於 本 公告 日 期 ， 董 事會 包 括 執 行董 事 陳 偉 莊 先生 及 余 天 兵 先生 ； 非 執 行董 事胡浩然先生；及獨立非執行董事劉一敏先生、陳仰德先生及馮苑女士。 WEIli Holdings Limited 偉 立 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：2372） 董事會會議日期 偉立控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈，董事 會 會 議 將 於 2025 年 8 月 22 日（ 星 期 五 ）舉 行 ， 藉 以（ 其 中 包 括 ）考 慮 及 批 准 本 公司及其附屬公司截至2025年6月30日止六個月之未經審核中期業績及其發 佈，並考慮建議派發中期股息（ 如有 ）。 香 港 交易 及 結 算 所 有限 公 司 及 香港 聯 合 交 易 所有 限 公 司 對 本公 告 的 內 容概 不 負 責， 對 其 準 確 性或 完 整 性 亦不 發 表 任 何 聲明 ， 並 明 確 表示 概 不 就 因本 公 告 全部 或 任 何 部 分內 容 而 產 ...

FF301 第 1 頁 共 10 頁 v 1.1.1 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: | 偉立控股有限公司 | | | | | | 呈交日期: | 2025年8月6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) | 02372 | 說明 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | 0.01 | HKD | 100,000,000 | | 增加 / 減少 ( ...

Financial Performance - The total revenue for the fiscal year 2024 was approximately RMB 112.0 million, a decrease of about RMB 79.0 million or 41.4% compared to RMB 190.9 million in fiscal year 2023[14] - The gross profit fell from approximately RMB 17.6 million in fiscal year 2023 to about RMB 3.3 million in fiscal year 2024, a decrease of approximately RMB 14.3 million or 81.5%[14] - The gross profit margin decreased from approximately 9.2% in fiscal year 2023 to about 2.9% in fiscal year 2024[14] - The net loss attributable to shareholders for fiscal year 2024 was approximately RMB 9.5 million, compared to a loss of about RMB 2.6 million in fiscal year 2023[14] - The total loss and comprehensive loss increased from approximately RMB 2.6 million in FY2023 to about RMB 9.5 million in FY2024, an increase of approximately RMB 6.9 million or 270.7%[30] Cost Management - Sales costs decreased from approximately RMB 173.3 million in fiscal year 2023 to about RMB 108.7 million in fiscal year 2024, a reduction of approximately RMB 64.6 million or 37.3%[21] - Sales expenses decreased from approximately RMB 8.2 million in FY2023 to about RMB 5.2 million in FY2024, primarily due to reduced shipping costs resulting from lower sales volume[23] - Administrative expenses decreased from approximately RMB 17.7 million in FY2023 to about RMB 13.4 million in FY2024, mainly due to a reduction in travel and entertainment expenses by approximately RMB 1.2 million and a decrease in R&D expenses by approximately RMB 2.3 million[24] - Employee costs for FY2024 are approximately RMB 10.5 million, down from RMB 12.4 million in FY2023, reflecting a reduction in workforce from 113 to 83 employees[45] Market Outlook - The decrease in orders from major customers was attributed to a gap between expired contracts and newly acquired contracts[20] - The company anticipates stable demand for tobacco products despite government anti-smoking policies, with an expected increase in demand for mid-to-high-end cigarettes due to rising purchasing power[15] Strategic Plans - The company plans to continue optimizing and managing resources to seize long-term growth opportunities in the market[15] - The company will leverage its expertise to formulate effective strategies aimed at increasing market share[15] Asset Management - The company recorded long-term asset impairment provisions during fiscal year 2024, impacting financial performance significantly[17] - Capital expenditures for FY2024 amounted to approximately RMB 3.7 million, a significant decrease from approximately RMB 22.4 million in FY2023, primarily due to purchases of property, plant, and equipment[36] - The group had no capital commitments as of December 31, 2024, compared to approximately RMB 1.9 million as of December 31, 2023[37] Corporate Governance - The company adheres to high standards of corporate governance and has complied with all applicable provisions of the corporate governance code as of December 31, 2024[63] - The company has adopted the standard code for securities trading by directors, confirming compliance for the year ending December 31, 2024[64] - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[66] - The company held two board meetings during the fiscal year ending December 31, 2024, with all directors attending both meetings[70] - The company has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with listing rules[73] Diversity and Inclusion - The gender ratio of employees, including senior management, is approximately 57:26 as of December 31, 2024, indicating a commitment to gender diversity[84] - The board has adopted a diversity policy, ensuring at least one female member and plans to increase this number over the next five years[83] - The company is committed to equal opportunity, diversity, and anti-discrimination principles in its workplace[139] Environmental Sustainability - The company emphasizes environmental sustainability in its operations, integrating this principle into various aspects of its business[143] - The board has committed to integrating environmental sustainability into the company's daily operations and business strategy[200] Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[119] - The company encourages shareholders to provide updated contact information for timely communication[125] - The company’s website serves as a channel for effective communication with shareholders, providing regular updates and information[125] Audit and Compliance - The audit committee is responsible for reviewing the integrity of financial statements and the effectiveness of risk management and internal control systems[91] - The company has engaged a compliance advisor to ensure adherence to listing rules[110] Future Developments - Future business developments are discussed in the management discussion and analysis section of the annual report[141] - The company’s main business remains unchanged, focusing on investment holding and the manufacturing and sales of cigarette packaging paper in China[136]

Financial Performance - For the fiscal year ending December 31, 2024, revenue decreased by approximately 41.4% to about RMB 112.0 million, compared to RMB 190.9 million in 2023[2] - Gross profit for the same period fell by approximately 81.5% to about RMB 3.3 million, down from RMB 17.6 million in 2023[2] - The company recorded a loss attributable to shareholders of approximately RMB 9.5 million for the fiscal year, compared to a loss of RMB 2.6 million in 2023[2] - Basic loss per share for the fiscal year was approximately RMB 1.2 cents, compared to RMB 0.3 cents in 2023[2] - The total revenue for the year ended December 31, 2024, was RMB 111,977 thousand, a decrease from RMB 190,944 thousand in 2023, representing a decline of approximately 41%[27] - The group’s total revenue decreased from approximately RMB 190.9 million in FY2023 to about RMB 112.0 million in FY2024, a reduction of approximately RMB 79.0 million or 41.4%[56] - The group recorded a net loss and total comprehensive loss increased from approximately RMB 2.6 million in FY2023 to about RMB 9.5 million in FY2024, an increase of approximately 6.9 million or 270.7%[66] Assets and Liabilities - Total assets decreased to RMB 261.7 million in 2024 from RMB 365.1 million in 2023[10] - Total liabilities decreased to RMB 51.0 million in 2024 from RMB 144.9 million in 2023[10] - Cash and cash equivalents decreased to RMB 53.2 million in 2024 from RMB 95.1 million in 2023[10] - Trade receivables decreased to RMB 104.2 million in 2024 from RMB 131.8 million in 2023[10] - The company reported a net trade receivables amount of RMB 104,249,000 in 2024, down from RMB 131,766,000 in 2023, representing a decrease of about 21%[51] - The net inventory value decreased to RMB 40,631,000 in 2024 from RMB 57,726,000 in 2023, a reduction of approximately 30%[48] - Trade payables decreased to RMB 32,067,000 in 2024 from RMB 69,599,000 in 2023, indicating a reduction of about 54%[52] Expenses - The cost of raw materials and goods sold was RMB 99,462 thousand in 2024, down from RMB 166,123 thousand in 2023, indicating a reduction of about 40%[32] - Employee costs decreased to RMB 10,453 thousand in 2024 from RMB 12,391 thousand in 2023, reflecting a decline of approximately 15%[32] - Research and development expenses amounted to RMB 4,930 thousand in 2024, down from RMB 7,267 thousand in 2023, a decrease of about 32%[37] - The total operating expenses for the year were RMB 127,314 thousand in 2024, down from RMB 199,244 thousand in 2023, representing a decrease of approximately 36%[32] - The group’s selling expenses decreased from approximately RMB 8.2 million in FY2023 to about RMB 5.2 million in FY2024, primarily due to reduced shipping costs from lower sales volume[59] - The group’s administrative expenses decreased from approximately RMB 17.7 million in FY2023 to about RMB 13.4 million in FY2024, mainly due to a reduction in travel and entertainment expenses[60] Dividends - The board has resolved not to recommend the payment of a final dividend for the fiscal year ending December 31, 2024[2] - The company did not declare or pay any dividends for the fiscal year ending December 31, 2024, consistent with 2023[44] - The board has decided not to recommend a final dividend for the fiscal years 2023 and 2024[80] Accounting Standards - The company expects that the adoption of HKFRS 18 will not impact its net profit, but it may affect the calculation and reporting of operating profit due to the reclassification of income and expenses into new categories[23] - The presentation of cash flows will change, with interest received classified under investing activities and interest paid under financing activities, effective from January 1, 2027[24] - The company has identified potential impacts from the adoption of new accounting standards, including changes in the presentation of goodwill and intangible assets on the balance sheet[23] - Management is currently assessing the detailed impact of the new standards on the consolidated financial statements, with no significant changes expected in the disclosures of material information[23] - The company anticipates that the amendments and new interpretations of accounting standards will not have a significant impact on current or future reporting periods[21] - The new standards are expected to enhance comparability and provide more relevant information and transparency to users of the financial statements[22] - The company will need to make significant new disclosures regarding performance metrics defined by management and the nature of expenses presented in the income statement[23] - The amendments to HKAS 1 and HKFRS 18 will introduce new requirements that may broadly affect the presentation and disclosure of financial performance statements[22] - The company plans to adopt the new standards starting from January 1, 2027, with prior year comparative information restated according to HKFRS 18 requirements[24] - The company has not early adopted any of the new standards that are not yet effective, as they are not expected to have a significant impact on the financial statements[21] Employee Information - The group had 83 employees as of December 31, 2024, down from 113 employees in the previous year[81] - The total employee cost for the fiscal year 2024 was approximately RMB 10.5 million, down from RMB 12.4 million in fiscal year 2023[81] Governance and Compliance - The company’s annual performance for the fiscal year 2024 has been reviewed by the Audit Committee and is in compliance with applicable accounting standards and listing rules[88] - The company has established an Audit Committee to oversee financial reporting and internal controls[87] - The Board of Directors is responsible for the overall governance and supervision of the company[86] - The Audit Committee consists of three independent non-executive directors, ensuring compliance with listing rules[87] - The company expresses gratitude to the management team and all employees for their hard work and dedication during the year[93] Future Plans and Events - The company plans to utilize approximately HKD 90.3 million in net proceeds for various purposes, including enhancing production capacity and expanding the product portfolio[79] - The annual general meeting is scheduled for May 23, 2025, with a suspension of share transfer registration from May 20 to May 23, 2025[89] - There were no significant events requiring disclosure after December 31, 2024[83] - The company has no significant investments or acquisitions planned for the fiscal year 2024[76] Impairments - The company experienced a significant impairment charge on long-term assets during the fiscal year 2024, negatively impacting financial performance[54] - The group recorded a financial asset impairment provision of approximately RMB 2.0 million in FY2023 and about RMB 1.1 million in FY2024, mainly due to an increase in the total value of trade receivables and an expected loss rate increase[61] - The company reported a total asset impairment of RMB 3,208,000 related to equipment in 2024[45]