Financial Performance - LX Technology Group Limited reported a significant increase in revenue, achieving a total of $50 million for the first half of 2025, representing a 25% year-over-year growth[1]. - EBITDA for the first half of 2025 was reported at $15 million, reflecting a 20% increase from the same period last year[1]. - The management provided an optimistic outlook, projecting a revenue growth of 35% for the full year 2025[1]. - Total revenue for the period reached approximately RMB 1,116.7 million, an increase of 18.5% compared to RMB 942.6 million in the same period last year[37]. - The company reported a profit attributable to owners of the company of RMB 5,655 thousand for the six months ended June 30, 2025, compared to a loss of RMB 39,792 thousand in the same period of 2024[143]. - The company reported a net income of RMB 33,266 thousand for the six months ended June 30, 2025, compared to RMB 16,946 thousand in the same period of 2024[161]. - The company achieved a net profit of approximately RMB 4.9 million in the first half of 2025, a significant turnaround from a net loss of RMB 40.6 million in the same period of 2024[20]. User and Market Expansion - The company’s user base expanded to 1.2 million active users, marking a 30% increase compared to the previous year[1]. - Market expansion efforts include entering three new countries by the end of 2025, targeting a 15% increase in international sales[1]. - The company plans to launch two new products in Q3 2025, aiming to capture an additional 10% market share in the tech sector[1]. Revenue Streams - Revenue from the equipment recycling business increased by approximately 24.4% to RMB 848.1 million, compared to RMB 681.9 million in the same period of 2024[26]. - Revenue from the equipment subscription business rose by approximately 4.5% to RMB 191.9 million, compared to RMB 183.7 million in the same period of 2024[28]. - Revenue from IT technology subscription services slightly decreased to RMB 76.6 million, a decline of 0.5% from RMB 77.0 million in the same period last year[30]. - The total number of equipment subscriptions increased to 3,475,364 units, representing an 11.7% growth from 3,112,036 units in the previous year[41]. Profitability and Cost Management - The gross profit for the period was approximately RMB 101.9 million, a 9.7% increase from RMB 92.9 million in the previous year, despite a slight decrease in gross margin from 9.9% to 9.1%[46]. - Distribution and selling expenses decreased by approximately 19.6% from about RMB 77.3 million to RMB 62.1 million, representing 5.6% of revenue compared to 8.2% previously[52]. - Administrative expenses decreased by approximately 9.7% from about RMB 47.1 million to RMB 42.5 million, accounting for 3.8% of revenue down from 5.0%[53]. - R&D expenses decreased by approximately 38.0% from about RMB 14.5 million to RMB 9.0 million, representing 0.8% of revenue compared to 1.5%[54]. Cash Flow and Financial Stability - LX Technology Group Limited's cash flow from operations increased by 40%, reaching $20 million in the first half of 2025[1]. - Net cash generated from operating activities increased significantly to RMB 201,131 thousand, compared to RMB 50,252 thousand in the prior year[145]. - Cash and cash equivalents at the end of the period were RMB 365,007 thousand, up from RMB 276,940 thousand, reflecting improved liquidity[145]. - The company has maintained the required public float as per listing rules during the reporting period[132]. Strategic Initiatives - The company is investing $5 million in R&D for new technologies aimed at improving operational efficiency and customer satisfaction[1]. - The company plans to continue expanding its service coverage and deepening customer relationships to support sustainable growth[16]. - The focus on digitalization and operational upgrades will accelerate the deployment of data-driven tools and automation technologies[34]. Employee Incentives and Share Options - The company has implemented a new employee incentive program, which is expected to improve productivity by 10%[1]. - LX Brothers employee incentive plan granted a total of 6,622,445 stock options, equivalent to approximately 5.06% of the issued shares as of the report date[92]. - As of June 30, 2025, a total of 17,783,685 stock options remain unexercised, with 3,118,721 options vested during the reporting period[93]. Acquisitions and Investments - LX Technology Group Limited is exploring strategic acquisitions to enhance its service offerings and expand its market presence in Southeast Asia[1]. - The company acquired 49% of Shanghai Huirong Electronic Product Remanufacturing Co., Ltd. for a cash consideration of RMB 24,500,000 on February 28, 2025[188]. - The identifiable net assets acquired from Shanghai Huirong were valued at RMB 45,126,000, resulting in goodwill of RMB 2,388,000 due to the acquisition including associated employees[192][193]. Legal and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial information for the reporting period[129]. - There are no significant legal proceedings involving the company during the reporting period[131]. - The company has no significant contingent liabilities as of June 30, 2025[80].

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: 凌雄科技集團有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02436 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | FF301 本 ...

Core Insights - Lingxiong Technology, the parent company of Xiaoxiong U Rental, has emerged as a leading player in the DaaS (Device as a Service) sector in China, showcasing a successful evolution alongside the digital economy in Shenzhen [1][7]. Company Development - Founded in 2004 by Hu Zuoxiong in Huaqiangbei, Lingxiong Technology initially focused on DIY computer sales and second-hand computer trading, quickly becoming a market leader [4]. - The company pivoted to the IT office equipment short-term rental market after identifying a rental demand during an exhibition in 2008 [5]. - In 2013, Lingxiong introduced a long-term rental model for IT office equipment, allowing businesses to pay monthly and providing comprehensive IT services, which helped reduce initial investment by approximately 97% and operational costs by 10%-30% over three years [6]. Business Model and Achievements - By 2017, Lingxiong expanded its services to include IT equipment recycling and launched a SaaS management system in 2018, creating a closed-loop DaaS service model that manages the entire lifecycle of IT equipment [6]. - As of now, Lingxiong has assisted thousands of companies, including many Fortune 500 firms, in reducing costs and improving efficiency, with a service network covering over 380 cities and a customer satisfaction rate exceeding 98% [7]. - The company went public on the Hong Kong Stock Exchange on November 24, 2022, marking its transformation from a small business to an industry leader [7]. - In 2024, Lingxiong's revenue grew by 32.3% year-on-year to 2.372 billion yuan, and in the first half of 2025, revenue increased by approximately 18.5% to 1.117 billion yuan, maintaining its position as the industry leader [7]. Industry Impact and Social Responsibility - Lingxiong has taken on a leadership role in the DaaS industry, actively participating in the establishment of industry standards and promoting high-quality development [9]. - The company has initiated the "Credit Ease+" alliance to enhance China's social credit system and has contributed to the formulation of several national standards related to IT equipment recycling and credit evaluation [9]. - In terms of social responsibility, Lingxiong has donated teaching computers to rural schools and has implemented IT remanufacturing technologies to support digital education, contributing to sustainable development [10]. - The company has also significantly reduced carbon emissions, with a net reduction of over 83,740 tons in 2024 alone, by extending the lifecycle of IT equipment [10]. Entrepreneurial Philosophy - Hu Zuoxiong emphasizes a long-term, iterative approach to business, focusing on innovation and customer value rather than short-term gains [11]. - His leadership reflects the adaptability and resilience of Shenzhen entrepreneurs in navigating economic fluctuations and industry changes [11].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 由於本集團的設備回收業務及設備訂閱業務擴張，董事會預期，2024年購買框 架協議項下有關向京東集團購買全新及二手設備的交易金額將會增加，而截 至2027年12月31日止三個年度的現有年度上限可能不足以涵蓋有關交易金額。 因此，於2025年8月27日（交易時段後），本公司與北京京東訂立了補充協議（「補 充協議」），以修訂2024年購買框架協議的現有年度上限（「現有年度上限」）。 除修訂現有年度上限外，2024年購買框架協議的所有其他條款保持不變。有關 2024年購買框架協議的主要條款，請參閱重續持續關連交易公告。 LX Technology Group Limited 凌雄科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2436） 持續關連交易 — 修訂2024年購買框架協議的年度上限 緒言 茲提述本公司日期為2024年12月27日的公告（「重續持續關連交易公告」）。除文 義另有界定外，本 ...

Core Insights - Lingxiong Technology, a Chinese DaaS (Device as a Service) company, reported a revenue increase of approximately 18.5% year-on-year, reaching 1.117 billion RMB in the first half of 2025 [1][3] - The company achieved a net profit of around 5 million RMB, marking a turnaround from losses, with adjusted profit reaching approximately 18.645 million RMB [1][3] - Adjusted EBITDA saw a significant increase of about 38.5%, totaling approximately 194 million RMB [1] Revenue Breakdown - The equipment recovery business experienced a customer growth of about 20% year-on-year, with revenue increasing by 24.4% to approximately 848 million RMB [3] - Revenue from equipment subscription services grew by 4.5% to around 192 million RMB, while IT technology subscription services maintained steady growth with revenue of approximately 76 million RMB [3] - Total device subscriptions increased by 11.7% year-on-year, reaching approximately 3.475 million units [3] Market Outlook - The DaaS market in China is expected to see a penetration rate increase from around 5% to 10% over the next five years, driven by changing consumer awareness and habits [3] - Lingxiong Technology's business model demonstrates resilience in complex economic cycles, supported by a capable management team [3]

Core Insights - Lingxiong Technology, the first stock in China's DaaS (Device as a Service) industry, reported a revenue increase of approximately 18.5% year-on-year, reaching 1.117 billion RMB in the first half of 2025, with a net profit of about 5 million RMB, marking a turnaround from losses [1][2] - The company has maintained its position as the industry leader, achieving record-high revenue for the same period and demonstrating strong operational performance despite a complex macroeconomic environment [1][2] Financial Performance - Revenue for the equipment recycling business grew by 24.4% to approximately 848 million RMB, while equipment subscription services saw a 4.5% increase to about 192 million RMB [1][4] - Adjusted EBITDA surged by approximately 38.5% to 194 million RMB, indicating robust operational efficiency [1] Market Position and Strategy - Lingxiong Technology's business model, focusing on full lifecycle management of devices, has proven resilient in navigating complex economic cycles [2][5] - The company has established a strong core competency through a closed-loop DaaS ecosystem, a robust recycling and refurbishment supply chain, and an industry-leading intelligent risk control system [4][5] Industry Growth and Trends - The DaaS market in China is projected to maintain a compound annual growth rate of over 30%, with expectations to exceed 100 billion RMB by 2025 [10] - The demand for DaaS services is driven by the increasing number of enterprises and their need for cost-effective solutions amid economic pressures [5][12] Future Outlook - Lingxiong Technology is well-positioned to benefit from favorable macroeconomic conditions and government policies aimed at promoting the DaaS industry [12][13] - The company aims to enhance its market share and operational efficiency through digital transformation and AI technology integration, which will further improve customer service quality [6][13]

Core Viewpoint - Lingxiong Technology, the first DaaS (Device as a Service) company listed in China, reported a significant improvement in its mid-year performance for 2025, indicating a positive trend in the DaaS market in China [1] Company Summary - Lingxiong Technology's revenue for the first half of the year increased by approximately 18.5% to 1.117 billion RMB [1] - Gross profit rose by about 9.7% to 102 million RMB [1] - The company achieved a net profit of approximately 5 million RMB, marking a turnaround from previous losses [1] - Adjusted profit reached about 18.645 million RMB, also indicating a return to profitability [1] - Adjusted EBITDA surged by approximately 38.5% to 194 million RMB [1] - Revenue from the equipment recovery business grew by 24.4% to around 848 million RMB [1] - Revenue from equipment subscription services increased by 4.5% to approximately 192 million RMB [1] - IT technology subscription services maintained steady growth, generating about 76 million RMB in revenue [1] - Total equipment subscriptions rose by 11.7% to approximately 3.475 million units [1] Industry Summary - The DaaS market in China is expected to experience a significant penetration increase from the current 5% to around 10% over the next five years [1] - The changing consumer awareness and habits regarding IT office equipment are anticipated to favor DaaS services as the preferred option [1] - The DaaS market in China is projected to enter a phase of sustained and steady growth, with Lingxiong Technology positioned as a leading player in this sector [1]

Core Viewpoint - Lingxiong Technology (02436), the first stock in China's DaaS (Device as a Service) industry, reported a significant performance improvement in the first half of 2025, with revenue reaching 1.117 billion RMB, a year-on-year increase of approximately 18.5% [1][2] Financial Performance - Revenue for the first half of 2025 was 1.117 billion RMB, with a gross profit of 102 million RMB, reflecting a 9.7% year-on-year increase [1] - Net profit turned positive at approximately 5 million RMB, with adjusted profit reaching about 18.645 million RMB, and adjusted EBITDA increased by approximately 38.5% to 194 million RMB [1] - The equipment recovery business revenue grew by 24.4% to about 848 million RMB, while equipment subscription service revenue increased by 4.5% to approximately 192 million RMB [1][4] Business Growth Drivers - Lingxiong Technology's business model demonstrates strong resilience in complex economic cycles, supported by a robust management team capable of navigating challenges [2] - The company has maintained a focus on enhancing customer service quality, which has led to a steady increase in customer numbers, with a 20% year-on-year growth in equipment recovery business customers [4][9] - The DaaS market is expected to see a penetration rate increase from 5% to 10% over the next five years, driven by rising demand for DaaS services among enterprises [12] Industry Position and Influence - Lingxiong Technology has established itself as a "chain leader" in the DaaS industry, contributing to the development of industry standards and participating in significant national initiatives [7][8] - The company has been recognized for its contributions to the DaaS market, receiving multiple national certifications and accolades, including being named a national-level service standardization pilot enterprise [10] Future Outlook - The DaaS market is projected to grow at a compound annual growth rate of over 30%, with expectations to exceed 100 billion RMB by 2025 [10] - Lingxiong Technology is well-positioned to benefit from ongoing national policies supporting the circular economy and green consumption, which will further enhance its market share and profitability [11][12]

Core Viewpoint - Lingxiong Technology (02436) reported a strong performance for the six months ending June 30, 2025, with revenue of RMB 1.117 billion, representing a year-on-year increase of 18.47% and a turnaround to profit with a net profit attributable to shareholders of RMB 5.655 million, resulting in a basic earnings per share of RMB 0.02 [1] Group 1 - The company achieved a turnaround to profitability due to continuous expansion of service scale, implementation of refined expenditure management measures, process optimization, and digital enhancements to operational efficiency [1] - The company received industry recognition and policy support, highlighting the strategic value of its integrated circular business model [1] Group 2 - In January 2025, the company was selected as one of the second batch of national-level service industry standardization pilot enterprises, affirming its leadership in establishing industry benchmarks for standardized, high-quality equipment lifecycle management solutions [1] - In April 2025, the company was recognized as one of the first batch of pilot enterprises for second-hand goods circulation, a significant policy initiative aimed at promoting resource conservation and environmental protection, further reinforcing its role in sustainable development and IT equipment reuse [1] - In July 2025, the company was awarded the title of "Gazelle Enterprise" in Shenzhen, showcasing its strong innovation capabilities, rapid growth, and significant industry development potential [1]

Core Viewpoint - Lingxiong Technology (02436) reported a strong performance for the six months ending June 30, 2025, with revenue of RMB 1.117 billion, an increase of 18.47% year-on-year, and a profit attributable to shareholders of RMB 5.655 million, marking a turnaround from loss to profit [1] Financial Performance - The company achieved revenue of RMB 1.117 billion, reflecting an 18.47% year-on-year increase [1] - Profit attributable to shareholders was RMB 5.655 million, indicating a return to profitability [1] - Basic earnings per share were RMB 0.02 [1] Business Development - The company experienced strong growth in the first half of 2025, driven by the expansion of service scale and refined expenditure management across various business segments [1] - Operational efficiency was enhanced through digitalization initiatives [1] Industry Recognition and Policy Support - In January 2025, the company was selected as one of the second batch of national-level service industry standardization pilot enterprises, affirming its leadership in establishing high-quality equipment lifecycle management solutions [1] - In April 2025, the company was recognized as one of the first batch of pilot enterprises for second-hand goods circulation, supporting national policies aimed at resource conservation and environmental protection [1] - In July 2025, the company was awarded the title of "Gazelle Enterprise" in Shenzhen, highlighting its strong innovation capabilities and significant growth potential in the industry [1]