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: 迷策略 呈交日期: 2025年9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) | 02440 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 300,000,000 | USD | | 0.01 USD | | 3,000,000 | | 增加 / 減少 (-) | | | 700,000,000 | | | USD | | 7,000,000 | | 本月底結存 | | | 1,000,000,000 | USD | | 0.01 USD | | 10,000,000 | 本月底法定/註冊股本總額： US ...

董事会议决建议采纳2025年受限制股份单位计划，而该计划倘获采纳，将根据上市规则第十七章构成一 项透过发行新股份提供资金的股份计划。因此，根据上市规则第17.02(1)(a)条，采纳2025年受限制股份 单位计划须经(其中包括)股东于股东大会上批准。 由于建议采纳2025年受限制股份单位计划，并为在本公司控股股东变更、公司更名及战略性扩展至 Web3和人工智能新业务领域后，能更清晰地界定及更佳地管理雇员激励计划，董事会已于本公告日期 议决即时终止购股权计划及股份奖励计划。 迷策略(02440)发布公告，于2025年9月1日，董事会已议决终止购股权计划，即时生效。于2025年9月1 日，董事会已议决终止股份奖励计划，即时生效。 ...

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倚賴該等內容而引致的任何損失承擔任何責任。 MemeStrategy, Inc. 迷策略 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股份代號：2440） (1)終止購股權計劃及股份獎勵計劃 及 (2)建議採納二零二五年受限制股份單位計劃 終止購股權計劃及股份獎勵計劃 (i) 購股權計劃 茲 提 述 招 股 章 程，內 容 有 關（其 中 包 括）建議採納購股權計劃及其主要條款 概 要。 於 二 零 二 五 年 九 月 一 日，董 事 會 已 議 決 終 止 購 股 權 計 劃，即 時 生 效。 根 據 購 股 權 計 劃 的 條 款，本 公 司 可 藉 股 東 通 過 普 通 決 議 案 或 由 董 事 會 決 定，隨 時 終 止 購 股 權 計 劃 的 運 作，於 此 情 況 下，將 不 會 再 提 呈 或 授 出 購 股 權，惟 購 股 權 計 劃 的 條 文 在 為 ...

Group 1 - The company reported revenue of RMB 21.668 million for the six months ending June 30, 2025, representing a year-on-year decrease of 30.22% [1] - The net loss amounted to RMB 33.961 million, which is an increase of 10.47% compared to the previous year [1] - The loss per share was recorded at 11.61 cents [1]

迷策略(02440)发布截至2025年6月30日止6个月中期业绩，集团收益人民币2166.8万元，同比减少 30.22%;亏损净额3396.1万元，同比扩大10.47%;每股亏损11.61分。 ...

Financial Summary and Announcement [Financial Highlights](index=1&type=section&id=1.1%20Financial%20Highlights) During the reporting period, the company experienced significant declines in revenue and gross profit, alongside an expanded net loss Financial Highlights | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 21,668 | 31,050 | | Cost of Sales | (21,022) | (29,725) | | Gross Profit | 646 | 1,325 | | Net Loss | (33,961) | (30,742) | [Interim Results Announcement](index=1&type=section&id=1.2%20Interim%20Results%20Announcement) MemeStrategy, Inc. announced its unaudited consolidated interim results for the six months ended June 30, 2025 - Company announced its unaudited consolidated interim results for the six months ended June 30, 2025[3](index=3&type=chunk) Condensed Consolidated Financial Statements [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=2.1%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, revenue decreased by **30.2%** to **RMB 21,668 thousand**, gross profit fell by **51.2%**, and loss for the period expanded to **RMB 33,961 thousand** Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 21,668 | 31,050 | -30.2% | | Cost of Sales | (21,022) | (29,725) | -29.3% | | Gross Profit | 646 | 1,325 | -51.2% | | Other Income and Gains or Losses | 129 | 1,503 | -91.4% | | Selling and Distribution Expenses | (787) | (978) | -19.5% | | Administrative Expenses | (21,338) | (25,990) | -17.9% | | Finance Costs | (12,557) | (121) | +10277% | | Loss Before Tax | (33,961) | (30,742) | +10.5% | | Loss for the Period | (33,961) | (30,742) | +10.5% | | Basic and Diluted Loss Per Share (RMB cents) | (11.61) | (11.16) | +4.0% | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=2.2%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total non-current assets increased to **RMB 20,939 thousand**, total current assets slightly decreased to **RMB 217,242 thousand**, and net assets marginally declined to **RMB 202,873 thousand** Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Total Non-Current Assets | 20,939 | 16,236 | +28.9% | | Total Current Assets | 217,242 | 235,817 | -7.8% | | Total Current Liabilities | 34,765 | 46,391 | -25.1% | | Net Current Assets | 182,477 | 189,426 | -3.7% | | Net Assets | 202,873 | 205,437 | -1.2% | | Share Capital | 17,104 | 15,646 | +9.3% | | Share Premium | 160,329 | 205,017 | -21.8% | | Reserves | 29,462 | (19,248) | N/A | | Total Equity | 202,873 | 205,437 | -1.2% | Notes to the Condensed Consolidated Interim Financial Statements [Company and Group Information](index=6&type=section&id=3.1%20Company%20and%20Group%20Information) The company, incorporated in the Cayman Islands, focuses on hardware and software development in IoT, telecommunications, and innovative technologies, with HODL becoming its ultimate controlling party - Company primarily engages in hardware and software development in IoT, telecommunications, and other innovation technology-driven fields[8](index=8&type=chunk) - **HODL** became the company's direct and ultimate controlling company on January 27, 2025[9](index=9&type=chunk) [Basis of Preparation](index=6&type=section&id=3.2%20Basis%20of%20Preparation) The condensed consolidated financial statements are presented in RMB and prepared in accordance with HKAS 34 and the Listing Rules of the Stock Exchange - Financial statements are presented in **RMB** and comply with **HKAS 34** and the **Listing Rules** of the Stock Exchange[10](index=10&type=chunk) [Accounting Policies](index=6&type=section&id=3.3%20Accounting%20Policies) Financial statements are prepared on a historical cost basis, with certain equity investments and intangible assets (cryptocurrencies) measured at fair value, and new cryptocurrency accounting policies adopted this period - Financial statements are prepared on a historical cost basis, but certain assets, such as cryptocurrencies and equity investments, are measured at fair value[11](index=11&type=chunk) [Intangible Assets – Cryptocurrencies](index=6&type=section&id=3.3.1%20Intangible%20Assets%20%E2%80%93%20Cryptocurrencies) The company treats cryptocurrencies as intangible assets with indefinite useful lives, measured using the revaluation model, with fair value based on active market bid prices - Company treats held cryptocurrencies as intangible assets with indefinite useful lives, measured using the revaluation model, with fair value referencing active market bid prices[12](index=12&type=chunk) - Revaluation gains on cryptocurrencies are recognized in other comprehensive income, while impairment losses are recognized in profit or loss (or reverse revaluation reserve)[13](index=13&type=chunk) [Application of HKFRS Amendments](index=7&type=section&id=3.3.2%20Application%20of%20HKFRS%20Amendments) Amendments to HKFRS were first applied this period, but they had no significant impact on the financial position or performance - Amendments to HKFRS were first applied this period, but had no significant impact on financial position or performance[14](index=14&type=chunk) [Revenue and Segment Information](index=7&type=section&id=3.4%20Revenue%20and%20Segment%20Information) The Group operates in the technology sector, focusing on IoT, telecommunications, and innovative technologies, with revenue primarily from data transmission services and communication equipment sales in Mainland China - Group primarily operates in the technology sector, focusing on hardware and software development in IoT, telecommunications, and innovative technology fields[15](index=15&type=chunk) - Group has only one reportable operating segment, with key operating decisions monitored by the overall performance decision-maker[19](index=19&type=chunk) [Revenue Analysis](index=7&type=section&id=3.4.1%20Revenue%20Analysis) This section provides a detailed breakdown of the Group's revenue sources from customer contracts Revenue Analysis | Revenue Source | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue from Customer Contracts | 21,668 | 31,050 | [Disaggregation of Revenue Information](index=8&type=section&id=3.4.2%20Disaggregation%20of%20Revenue%20Information) Revenue is disaggregated by type of goods or services, showing contributions from IoT application data transmission and processing services and communication equipment sales Disaggregation of Revenue Information | Type of Goods or Services | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | IoT Application Data Transmission and Processing Services | 20,392 | 31,050 | | Communication Equipment Sales | 1,276 | – | | **Total Revenue from Customer Contracts** | **21,668** | **31,050** | [Geographical Information](index=8&type=section&id=3.4.3%20Geographical%20Information) The Group's revenue and non-current assets are primarily concentrated in Mainland China and Hong Kong Geographical Revenue | Region | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Mainland China Revenue | 21,668 | 31,050 | Geographical Non-Current Assets | Non-Current Assets by Region | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Mainland China | 933 | 2,346 | | Hong Kong | 7,254 | – | | **Total** | **8,187** | **2,346** | [Major Customers Information](index=9&type=section&id=3.4.4%20Major%20Customers%20Information) This section details the revenue contributions from the Group's major customers during the reporting periods Major Customers Revenue | Major Customer | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Customer 1 | 10,203 | N/A* | | Customer 2 | 10,189 | N/A* | | Customer 3 | N/A* | 12,849 | | Customer 4 | N/A* | 9,236 | | Customer 5 | N/A* | 4,915 | [Other Income and Gains or Losses](index=9&type=section&id=3.5%20Other%20Income%20and%20Gains%20or%20Losses) Other income and gains or losses significantly decreased to **RMB 129 thousand** in H1 2025, mainly due to reduced government grants and lower net foreign exchange gains Other Income and Gains or Losses | Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Bank Interest Income | 7 | 288 | | Government Grants | 11 | 1,169 | | Net Foreign Exchange Gains | 225 | 48 | | Loss on Disposal of Property, Plant and Equipment | (113) | – | | Loss on Early Termination of Lease | (5) | – | | Others | 4 | (2) | | **Total** | **129** | **1,503** | [Loss Before Tax](index=10&type=section&id=3.6%20Loss%20Before%20Tax) Loss before tax for the six months ended June 30, 2025, was **RMB 33,961 thousand**, primarily influenced by a significant increase in finance costs and a notable decrease in research and development costs Loss Before Tax Components | Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Directors' Remuneration | 7,116 | 5,946 | | Staff Welfare Expenses (excluding Directors' and Chief Executive's Remuneration) | 5,675 | 5,645 | | Cost of Inventories Sold | 1,233 | – | | Cost of Services Provided | 19,789 | 29,725 | | Depreciation of Property, Plant and Equipment | 309 | 768 | | Depreciation of Right-of-Use Assets | 560 | 485 | | Amortisation of Intangible Assets | 38 | 39 | | Research and Development Costs | 602 | 12,536 | | Net Impairment Loss on Trade Receivables under Expected Credit Loss Model | 12,550 | 6,494 | | Net Reversal of Impairment Loss on Contract Assets under Expected Credit Loss Model | – | (13) | | Net Impairment Loss on Other Receivables under Expected Credit Loss Model | 7 | – | [Income Tax Expense](index=10&type=section&id=3.7%20Income%20Tax%20Expense) The Group incurred no taxable profit during the period, resulting in no income tax provision, while certain Mainland China subsidiaries enjoy a **15%** high-tech enterprise preferential tax rate - Group generated no taxable profit in Hong Kong, thus no income tax provision was made[26](index=26&type=chunk) - Nanjing Haoying and Shenzhen Wulian, as high-tech enterprises, enjoy a preferential income tax rate of **15%**[26](index=26&type=chunk) Income Tax Expense | Income Tax Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Current | – | – | | Deferred | – | – | | **Total Tax Expense for the Period** | **–** | **–** | [Dividends](index=11&type=section&id=3.8%20Dividends) No dividends were paid or proposed by the company for the six months ended June 30, 2025 - Company neither paid nor proposed dividends for the six months ended June 30, 2025[29](index=29&type=chunk) [Loss Per Share](index=11&type=section&id=3.9%20Loss%20Per%20Share) Basic and diluted loss per share for the six months ended June 30, 2025, increased to **RMB 11.61 cents** from **RMB 11.16 cents**, based on the weighted average number of ordinary shares Loss Per Share | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 (Restated) | | :--- | :--- | :--- | | Basic and Diluted Loss Per Share (RMB cents) | (11.61) | (11.16) | | Weighted Average Number of Ordinary Shares for Basic and Diluted Loss Per Share | 292,428,051 | 275,429,904 | [Property, Plant and Equipment and Intangible Assets](index=11&type=section&id=3.10%20Property%2C%20Plant%20and%20Equipment%20and%20Intangible%20Assets) In H1 2025, the Group acquired approximately **RMB 101 thousand** in property, plant, and equipment, and cryptocurrency intangible assets for **RMB 5,003 thousand** cash, revalued to **RMB 5,516 thousand** at period-end - In H1 2025, the Group acquired property, plant, and equipment totaling approximately **RMB 101 thousand**[32](index=32&type=chunk) - Group acquired cryptocurrency intangible assets for approximately **RMB 5,003 thousand**, with a period-end revaluation of **RMB 5,516 thousand**[32](index=32&type=chunk) [Equity Investment Designated at Fair Value Through Other Comprehensive Income](index=12&type=section&id=3.11%20Equity%20Investment%20Designated%20at%20Fair%20Value%20Through%20Other%20Comprehensive%20Income) The company subscribed for approximately **2.18%** equity in Etic International Limited for **RMB 13,513 thousand**, designated at fair value through other comprehensive income due to its strategic nature - Company subscribed for approximately **2.18%** equity in Etic International Limited for **RMB 13,513 thousand**[33](index=33&type=chunk) - This equity investment is designated at fair value through other comprehensive income due to its strategic nature[33](index=33&type=chunk) [Trade Receivables](index=12&type=section&id=3.12%20Trade%20Receivables) As of June 30, 2025, net trade receivables decreased to **RMB 196,012 thousand** from **RMB 223,268 thousand** at year-end 2024, with impairment loss provisions increasing to **RMB 56,006 thousand** Trade Receivables | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Trade Receivables | 252,018 | 294,083 | | Less: Provision for Impairment Loss | (56,006) | (70,815) | | **Net Trade Receivables** | **196,012** | **223,268** | Ageing Analysis of Trade Receivables (Net of Impairment Loss Provision) | Ageing Analysis | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 1 Year | 14,751 | 29,862 | | 1 to 2 Years | 100,267 | 134,784 | | 2 to 3 Years | 63,588 | 54,348 | | 3 to 4 Years | 17,138 | 4,005 | | 4 to 5 Years | 268 | 269 | | **Total** | **196,012** | **223,268** | Movement in Provision for Impairment Loss | Movement in Provision for Impairment Loss | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | At Beginning of Period | 70,815 | 42,785 | | Net Impairment Loss | 12,550 | 28,030 | | Written Off | (27,359) | – | | **At End of Period** | **56,006** | **70,815** | [Trade Payables](index=13&type=section&id=3.13%20Trade%20Payables) As of June 30, 2025, total trade payables significantly decreased to **RMB 19,242 thousand** from **RMB 34,282 thousand** at year-end 2024, with credit terms ranging from 7 to 90 days Ageing Analysis of Trade Payables | Ageing Analysis | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 1 Year | 11,458 | 11,522 | | 1 to 2 Years | 72 | 11,975 | | 2 to 3 Years | 5,376 | 8,453 | | Over 3 Years | 2,336 | 2,332 | | **Total** | **19,242** | **34,282** | [Loan from Controlling Shareholder](index=13&type=section&id=3.14%20Loan%20from%20Controlling%20Shareholder) As of June 30, 2025, the Group drew down approximately **RMB 12,203 thousand** in interest-free, unsecured, and repayable-on-demand shareholder loans from its controlling shareholder, HODL - Group drew down approximately **RMB 12,203 thousand** in interest-free, unsecured, and repayable-on-demand shareholder loans from controlling shareholder HODL[38](index=38&type=chunk) [Interest-Bearing Bank Borrowings](index=14&type=section&id=3.15%20Interest-Bearing%20Bank%20Borrowings) As of June 30, 2025, interest-bearing bank borrowings significantly decreased to **RMB 10 thousand**, with an effective interest rate of **2.75%** and maturity in March 2026 Interest-Bearing Bank Borrowings | Bank Borrowing | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Effective Interest Rate | Maturity Date | | :--- | :--- | :--- | :--- | :--- | | Bank Loan – Unsecured | 10 | 3,000 | 2.75% | March 2026 (December 2025) | [Events After the Reporting Period](index=14&type=section&id=3.16%20Events%20After%20the%20Reporting%20Period) Post-reporting period, the company successfully completed a rights issue, raising approximately **HKD 154.8 million** by issuing **122,659,756** rights shares, and increased its authorized share capital to **USD 10,000,000** - Company completed a rights issue on August 7, 2025, issuing **122,659,756** rights shares and raising approximately **HKD 154.8 million**[41](index=41&type=chunk) - Company's authorized share capital increased to **USD 10,000,000** (divided into 1,000,000,000 shares of USD 0.01 par value each)[42](index=42&type=chunk) Management Discussion and Analysis [Company Overview and Strategic Transformation](index=15&type=section&id=4.1%20Company%20Overview%20and%20Strategic%20Transformation) Renamed "MemeStrategy, Inc.", the company is committed to advancing decentralized technologies, leveraging AI, blockchain, and other cutting-edge technologies to drive digital assets and Web3 projects, building on its IoT expertise - Company renamed "MemeStrategy, Inc.", committed to advancing decentralized technology, leveraging AI, blockchain, and cutting-edge technologies to drive digital assets and Web3 projects[43](index=43&type=chunk) - Company will leverage its established IoT expertise to forge new pathways for sustainable growth in the evolving digital economy[43](index=43&type=chunk) [Financial Performance Summary](index=15&type=section&id=4.2%20Financial%20Performance%20Summary) In H1 2025, the company's revenue decreased by **30.2%** to **RMB 21,668 thousand**, gross profit fell by **51.2%** to **RMB 646 thousand**, and net loss expanded to **RMB 33,961 thousand** Financial Performance Summary | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 21,668 | 31,050 | | Cost of Sales | (21,022) | (29,725) | | Gross Profit | 646 | 1,325 | | Net Loss | (33,961) | (30,742) | [Financial Performance Analysis](index=15&type=section&id=4.3%20Financial%20Performance%20Analysis) Revenue declined by **30.2%** due to IoT customer project delays, gross profit fell by **51.2%**, and net loss expanded by **10.5%** to **RMB 34.0 million**, primarily impacted by increased impairment losses on trade receivables - Revenue decreased by **30.2%** to **RMB 21.7 million**, primarily due to IoT customers delaying project progress amid cash flow concerns and macroeconomic uncertainty[46](index=46&type=chunk) - Gross profit decreased by **51.2%** to **RMB 0.6 million**, and net loss expanded to **RMB 34.0 million**, mainly due to increased impairment losses on trade receivables[47](index=47&type=chunk) [Market Dynamics and Strategic Integration](index=16&type=section&id=4.4%20Market%20Dynamics%20and%20Strategic%20Integration) The IoT and telecommunications sectors face increased competition and declining demand, but the rapidly expanding global digital economy and Hong Kong's emergence as a digital asset hub create opportunities for AI and blockchain ventures - Increased competition and declining demand in the IoT and telecommunications sectors led to a contraction in company revenue[48](index=48&type=chunk) - Global digital asset market is projected to reach **USD 110.2 billion** by 2026, with Hong Kong emerging as a global digital asset hub[49](index=49&type=chunk) - Company will continue to develop existing businesses while exploring new opportunities to integrate next-generation technologies like AI and blockchain[50](index=50&type=chunk) [2025 Outlook](index=16&type=section&id=4.5%202025%20Outlook) The company is strategically transforming to focus on AI, digital assets, and Web3, complementing its IoT expertise by investing in AI, blockchain, and culture to bridge traditional finance with the new economy, with sufficient funding from a successful rights issue - Company is strategically transforming, focusing on AI, digital assets, and Web3 to complement IoT expertise, connecting traditional finance with the new economy through investments in AI, blockchain, and culture[51](index=51&type=chunk) - Following the successful completion of the rights issue, the company has ample funds to implement its strategic initiatives[51](index=51&type=chunk) [Group's Three Business Pillars](index=17&type=section&id=4.6%20Group%27s%20Three%20Business%20Pillars) The Group will develop AI and blockchain solutions based on existing IoT expertise, drive digital transformation in IP and cultural industries, and strategically allocate digital assets, focusing on cryptocurrencies like Solana - Group will provide AI and blockchain-related solutions to enhance transparency, strengthen security, and reduce fraudulent activities[53](index=53&type=chunk) - Group plans to collaborate with traditional industry companies and intellectual property owners to promote digital and cultural transformation[54](index=54&type=chunk) - Group's asset allocation strategy will focus on cryptocurrencies and other high-growth digital assets, having acquired **4,880 units of Solana (SOL)**[55](index=55&type=chunk) [AI and Blockchain Development Based on Existing IoT Solutions](index=17&type=section&id=4.6.1%20AI%20and%20Blockchain%20Development%20Based%20on%20Existing%20IoT%20Solutions) The Group aims to integrate AI and blockchain into existing technologies through internal R&D to provide value-added services for IoT clients and explore new industry opportunities - Group will integrate AI and blockchain into existing technologies through internal R&D, driving digital and cultural transformation across various business areas[53](index=53&type=chunk) - This initiative aims to provide value-added services for IoT clients and explore new industry and market opportunities[53](index=53&type=chunk) [Digital Transformation of Intellectual Property and Cultural Industries](index=17&type=section&id=4.6.2%20Digital%20Transformation%20of%20Intellectual%20Property%20and%20Cultural%20Industries) The Group plans to collaborate with traditional industry companies and IP owners to facilitate digital and cultural transformation through various strategies, potentially expanding into new markets via joint ventures or equity investments - Group plans to collaborate with traditional industry companies and intellectual property owners to promote digital and cultural transformation through various means, such as co-branding and strategic partnerships[54](index=54&type=chunk) - Group may expand into new markets through joint ventures or equity investments, leveraging its technology and digital innovation capabilities[54](index=54&type=chunk) [Digital Asset Allocation Strategy](index=17&type=section&id=4.6.3%20Digital%20Asset%20Allocation%20Strategy) The Group has acquired **4,880 units of Solana (SOL)** using internal funds, incorporating it into long-term asset planning due to Solana's scalability, low-cost transactions, and active community supporting DeFi, tokenized real-world assets, and AI-driven Web3 applications - Group has used internal funds to purchase **4,880 units of Solana (SOL)**, incorporating it into long-term asset planning[55](index=55&type=chunk) - Solana is considered one of the most scalable and cost-effective networks due to its high speed, low-cost transactions, and active community, supporting DeFi platforms, tokenized real-world assets, and AI-driven Web3 applications[55](index=55&type=chunk) [Business Performance](index=18&type=section&id=4.7%20Business%20Performance) Despite intense competition, the Group is poised to capitalize on the significant growth potential of China's IoT market, particularly 5G IoT, leveraging its industry experience and comprehensive solutions, though data transmission revenue declined while communication equipment sales grew - China's IoT market has significant growth potential, with an estimated CAGR of approximately **13.3%** from 2021-2026, and the 5G IoT market CAGR at approximately **62.2%**[58](index=58&type=chunk) - As an IoT solution provider focused on network connectivity and platform layers, the Group possesses advantages such as industry experience, market knowledge, and one-stop solutions[60](index=60&type=chunk) [Industry and Group Strengths](index=18&type=section&id=4.7.1%20Industry%20and%20Group%20Strengths) Despite intense competition in China's fragmented IoT market, the Group is well-positioned to meet growing demand with its extensive industry experience, market knowledge, and comprehensive solutions - China's IoT market is highly competitive and fragmented, but the Group is well-positioned to capture growth demand with its years of industry experience, market knowledge, and one-stop solutions[60](index=60&type=chunk) [Data Transmission and Processing Services](index=19&type=section&id=4.7.2%20Data%20Transmission%20and%20Processing%20Services) Revenue from data transmission and processing services declined due to unfavorable market conditions in China, as customers prioritized non-5G network establishment Data Transmission and Processing Services Revenue | Service Type | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Non-5G Network Services Revenue | 20,392 | 31,050 | -34.3% | | IoT Application Data Transmission and Processing Services | 20,392 | 31,050 | -34.3% | - Revenue decline primarily due to unfavorable overall market conditions in China, with customers tending to establish non-5G networks first[62](index=62&type=chunk) [Communication Equipment Sales](index=20&type=section&id=4.7.3%20Communication%20Equipment%20Sales) The Group offers a range of 5G and other communication equipment, with sales showing growth during the period Communication Equipment Sales | Equipment Type | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | 5G Communication Equipment Sales | 1,276 | – | - Group provides 5G communication equipment (including 5G distributed radio frequency remote units, various 5G antennas, and 5G communication modules) and other communication equipment[63](index=63&type=chunk) [Financial Review](index=20&type=section&id=4.8%20Financial%20Review) The Group's revenue decreased by **30.2%**, gross profit margin fell to **3.0%** due to increased market competition, and net loss expanded by **10.5%**; cash and cash equivalents increased from option exercises, while the Group invested in Solana cryptocurrency and received a controlling shareholder loan, leading to a slight increase in the gearing ratio - Group's revenue decreased by **30.2%**, gross profit margin fell to **3.0%**, and net loss expanded by **10.5%**[71](index=71&type=chunk) - Cash and cash equivalents increased to **RMB 15.4 million**, primarily due to cash inflow from the exercise of share options[72](index=72&type=chunk) - Group invested in **Solana** cryptocurrency and received a **RMB 12.2 million** loan from the controlling shareholder[73](index=73&type=chunk)[76](index=76&type=chunk) [Revenue](index=20&type=section&id=4.8.1%20Revenue) Total revenue declined by **30.2%**, primarily due to project delays by IoT customers driven by cash flow concerns and macroeconomic uncertainties Revenue Breakdown | Revenue Source | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 21,668 | 31,050 | -30.2% | | Data Transmission and Processing Services | 20,392 | 31,050 | -34.3% | | Equipment Sales | 1,276 | – | N/A | | 5G Business | 1,276 | – | N/A | | Non-5G Business | 20,392 | 31,050 | -34.3% | | Mainland China Market Revenue | 21,668 | 31,050 | -30.2% | - Revenue decline primarily due to IoT industry customers delaying projects amid cash flow concerns and macroeconomic uncertainty[65](index=65&type=chunk) [Costs and Expenses](index=21&type=section&id=4.8.2%20Costs%20and%20Expenses) Sales costs decreased, administrative expenses declined due to reduced R&D, but were partially offset by higher staff costs and professional fees, while impairment losses on financial assets increased significantly Costs and Expenses | Cost and Expense Item | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Cost of Sales | 21,022 | 29,725 | -29.3% | | Material Costs | 19,789 | 29,624 | -33.2% | | Outsourcing Expenses | 1,233 | – | N/A | | Administrative Expenses | 21,338 | 25,990 | -17.9% | | Research and Development Expenses | 602 | 12,536 | -95.2% | | Staff Costs (Administrative) | 11,469 | 8,609 | +33.2% | | Professional Fees (Administrative) | 4,139 | 1,192 | +247.2% | | Selling and Distribution Expenses | 787 | 978 | -19.5% | | Impairment Loss on Financial Assets | 12,557 | 6,481 | +93.7% | - Significant reduction in R&D expenses was the main reason for the decrease in administrative expenses, partially offset by increased staff costs (due to higher severance payments) and professional fees[68](index=68&type=chunk) - Impairment losses on financial assets increased, mainly due to an approximately **38.2%** increase in trade receivables aged over two years[69](index=69&type=chunk) [Gross Profit, Loss Before Tax and Net Loss](index=22&type=section&id=4.8.3%20Gross%20Profit%2C%20Loss%20Before%20Tax%20and%20Net%20Loss) Gross profit decreased by **51.2%**, with gross profit margin falling to **3.0%** due to increased market competition, and both loss before tax and net loss expanded by **10.5%** Profitability Metrics | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 646 | 1,325 | -51.2% | | Gross Profit Margin | 3.0% | 4.3% | -1.3pp | | Loss Before Tax | (33,961) | (30,742) | +10.5% | | Net Loss | (33,961) | (30,742) | +10.5% | - Gross profit margin decreased primarily due to intensified market competition[71](index=71&type=chunk) [Cash and Cash Equivalents](index=22&type=section&id=4.8.4%20Cash%20and%20Cash%20Equivalents) Cash and cash equivalents increased to **RMB 15.4 million**, primarily driven by cash inflows of approximately **RMB 29.6 million** from the exercise of share options - Cash and cash equivalents increased to **RMB 15.4 million**, primarily due to cash inflow of approximately **RMB 29.6 million** from the exercise of share options[72](index=72&type=chunk) [Intangible Assets – Investment in Cryptocurrencies](index=23&type=section&id=4.8.5%20Intangible%20Assets%20%E2%80%93%20Investment%20in%20Cryptocurrencies) The Group acquired **4,880 units of Solana (SOL)** at a total cost of approximately **RMB 5.0 million**, with a period-end fair value of approximately **RMB 5.5 million**, aiming to engage with its ecosystem, generate validation revenue, and diversify assets - Group acquired **4,880 units of Solana (SOL)** at a total cost of approximately **RMB 5.0 million**, with a period-end fair value of approximately **RMB 5.5 million**[73](index=73&type=chunk) - Investment in SOL aims to gain exposure to the rapidly expanding ecosystem, generate revenue through network validation, and diversify inventory assets[74](index=74&type=chunk) [Borrowings](index=23&type=section&id=4.8.6%20Borrowings) Interest-bearing bank borrowings decreased to **RMB 10 thousand**, with **RMB 9.99 million** of the total **RMB 10.0 million** authorized credit facilities remaining undrawn - Interest-bearing bank borrowings decreased to **RMB 10 thousand**, with **RMB 9.99 million** of the total **RMB 10.0 million** authorized credit facilities remaining undrawn[75](index=75&type=chunk) [Loan from Controlling Shareholder](index=23&type=section&id=4.8.7%20Loan%20from%20Controlling%20Shareholder) As of June 30, 2025, the Group had an unsecured, interest-free loan of **RMB 12.2 million** from its controlling shareholder, with no fixed repayment terms - As of June 30, 2025, the loan from the controlling shareholder was **RMB 12.2 million**, unsecured, interest-free, and without a fixed repayment period[76](index=76&type=chunk) [Gearing Ratio](index=23&type=section&id=4.8.8%20Gearing%20Ratio) The gearing ratio slightly increased to approximately **6.8%** (from **1.9%** at year-end 2024), primarily due to the increase in the loan from the controlling shareholder - Gearing ratio slightly increased to approximately **6.8%** (year-end 2024: **1.9%**), primarily due to the increase in the loan from the controlling shareholder[77](index=77&type=chunk) [Rights Issue](index=24&type=section&id=4.9%20Rights%20Issue) The company proposed a rights issue of up to **122,659,756** rights shares at **HKD 1.262** per share on a two-for-one basis, aiming to raise up to approximately **HKD 154.8 million**, which was oversubscribed by **964.53%**, yielding net proceeds of approximately **HKD 152.96 million** for long-term growth - Company proposed a rights issue, on a basis of one rights share for every two existing shares, at a subscription price of **HKD 1.262** per rights share, to issue up to **122,659,756** rights shares and raise up to approximately **HKD 154.8 million**[78](index=78&type=chunk) - Rights issue was oversubscribed by **964.53%**, with net proceeds of approximately **HKD 152.96 million** to be used for long-term growth[79](index=79&type=chunk)[80](index=80&type=chunk) [Capital Structure](index=25&type=section&id=4.10%20Capital%20Structure) As of June 30, 2025, the company had issued share capital of approximately **USD 2,453 thousand**, comprising **245,319,513** ordinary shares, and subsequently completed a rights issue and increased its authorized share capital to **USD 10,000,000** - As of June 30, 2025, the company's issued share capital was approximately **USD 2,453 thousand**, with **245,319,513** ordinary shares issued[81](index=81&type=chunk) - Post-reporting period, the company completed a rights issue and increased its authorized share capital to **USD 10,000,000**[81](index=81&type=chunk)[82](index=82&type=chunk) [Capital Expenditure](index=25&type=section&id=4.11%20Capital%20Expenditure) Capital expenditure increased to approximately **RMB 0.1 million** in H1 2025 from zero in the prior period, primarily for the purchase of property, plant, and equipment and renovation expenses - Capital expenditure increased to approximately **RMB 0.1 million**, primarily for the purchase of property, plant, and equipment and renovation[83](index=83&type=chunk) [Pledge of Assets](index=25&type=section&id=4.12%20Pledge%20of%20Assets) As of June 30, 2025, the Group had no pledged assets or rights - As of June 30, 2025, the Group had no pledged assets or rights[84](index=84&type=chunk) [Contingent Liabilities](index=25&type=section&id=4.13%20Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[85](index=85&type=chunk) [Foreign Currency Risk](index=25&type=section&id=4.14%20Foreign%20Currency%20Risk) The Group is exposed to foreign currency risk from transactional currency and RMB exchange rate fluctuations against foreign currencies, but these risks were not hedged as of June 30, 2025 - Group faces foreign currency risk from transactional currencies and RMB exchange rate fluctuations against foreign currencies, but these risks were not hedged[86](index=86&type=chunk) [Employees and Remuneration Policy](index=26&type=section&id=4.15%20Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had **33** employees, with staff costs increasing by **10.4%** to **RMB 12.8 million**, and is committed to attracting, retaining, and motivating talent through competitive remuneration and training - As of June 30, 2025, the Group had **33** employees, with staff costs increasing by **10.4%** to **RMB 12.8 million**[87](index=87&type=chunk) - Group attracts, retains, and motivates talent through competitive remuneration, training, and performance evaluations[88](index=88&type=chunk) [Significant Investments, Acquisitions and Disposals](index=26&type=section&id=4.16%20Significant%20Investments%2C%20Acquisitions%20and%20Disposals) The company holds a significant strategic investment in Etic International Limited (ETIC), subscribing for approximately **2.17695%** equity for **RMB 13,513 thousand**, with a fair value of approximately **RMB 12.6 million** at period-end, and no other significant investments, acquisitions, or disposals occurred during the reporting period - Company holds a significant investment in **ETIC**, subscribing for approximately **2.17695%** equity for **RMB 13,513 thousand**[89](index=89&type=chunk) - As of June 30, 2025, the fair value of the **ETIC** equity investment was approximately **RMB 12.6 million**, representing approximately **6.2%** of the Group's net assets[90](index=90&type=chunk) - No other significant investments, acquisitions, or disposals occurred during the reporting period, with the business model strategically shifting towards integrating AI, digital assets, and Web3[91](index=91&type=chunk) [Events After Reporting Period](index=27&type=section&id=4.17%20Events%20After%20Reporting%20Period) No other significant events affecting the Group occurred after the reporting period up to the announcement date, apart from the disclosed rights issue, increase in authorized share capital, and strategic shift in business model - No other significant events occurred after the reporting period up to the announcement date, apart from the disclosed rights issue, increase in authorized share capital, and strategic shift in business model[92](index=92&type=chunk) Other Information and Corporate Governance [Purchase, Sale or Redemption of Listed Securities](index=27&type=section&id=5.1%20Purchase%2C%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the reporting period - Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the reporting period[93](index=93&type=chunk) [Interim Dividend](index=27&type=section&id=5.2%20Interim%20Dividend) The Board of Directors resolved not to declare any interim dividend for the six months ended June 30, 2025 - Board of Directors resolved not to declare any interim dividend for the six months ended June 30, 2025[94](index=94&type=chunk) [Compliance with the Model Code for Securities Transactions](index=27&type=section&id=5.3%20Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions) The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules and confirmed compliance by all directors during the reporting period - Company adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules and confirmed compliance by all directors[95](index=95&type=chunk) [Corporate Governance Practices](index=27&type=section&id=5.4%20Corporate%20Governance%20Practices) The company strives to maintain good corporate governance practices, though the roles of Chairman and Chief Executive Officer are combined under Mr. Chan Chin Ching, a deviation from Code Provision C.2.1, which the Board believes ensures unified leadership and efficient decision-making - Company strives to maintain good corporate governance practices, but the roles of Chairman and Chief Executive Officer are combined under Mr. Chan Chin Ching, deviating from Code Provision C.2.1[97](index=97&type=chunk) - Board believes this combined arrangement ensures unified leadership and efficient decision-making, and will review it periodically[97](index=97&type=chunk) [Audit Committee](index=28&type=section&id=5.5%20Audit%20Committee) The Audit Committee reviewed the Group's unaudited interim results for the six months ended June 30, 2025, confirming compliance with all applicable accounting principles, standards, and requirements - Audit Committee reviewed the interim results and confirmed compliance with all applicable accounting principles, standards, and requirements[99](index=99&type=chunk) [Auditor](index=28&type=section&id=5.6%20Auditor) The company's interim financial statements were reviewed by Deloitte Touche Tohmatsu, an independent auditor, in accordance with Hong Kong Standard on Review Engagements 2410 - Interim financial statements were reviewed by independent auditor Deloitte Touche Tohmatsu[100](index=100&type=chunk) [Publication of 2025 Interim Results and Interim Report](index=28&type=section&id=5.7%20Publication%20of%202025%20Interim%20Results%20and%20Interim%20Report) This announcement has been published on the HKEXnews website and the company's website, with the interim report to be published and dispatched to shareholders in due course - This announcement has been published on the HKEXnews website and the company's website, with the interim report to be published and dispatched to shareholders in due course[101](index=101&type=chunk) Definitions [Definitions](index=29&type=section&id=6.1%20Definitions) This section provides definitions for key terms and abbreviations used throughout the report to ensure consistent understanding - This section provides definitions for key terms and abbreviations used in the report, such as "5G", "IoT", and "RMB"[102](index=102&type=chunk)[105](index=105&type=chunk) By Order of the Board [By Order of the Board](index=30&type=section&id=7.1%20By%20Order%20of%20the%20Board) This section lists the Board of Directors and is signed by Mr. Chan Chin Ching, Chairman and Executive Director, on behalf of the Board - Board of Directors includes Executive Directors Mr. Chan Chin Ching, Mr. Chan Chin Chun, Mr. Kwong Tak Ching, and Mr. Li Ming Hong; and Independent Non-executive Directors Mr. Ng Pui Sum, Ms. Pang Ching, and Mr. Siu Chi Wai[104](index=104&type=chunk)

Core Viewpoint - The cryptocurrency concept stocks in Hong Kong experienced a collective rise, indicating a positive market sentiment towards this sector [1]. Group 1: Stock Performance - Leading stocks included: - Navigating Medical Biotechnology rose by 7.69%, with a latest price of 0.490 and a market capitalization of 1.039 billion [2]. - New Fire Technology Holdings increased by 7.28%, priced at 7.220, with a total market value of 42.3 billion [2]. - Guotai Junan International saw a rise of 6.46%, trading at 5.440, with a market cap of 51.827 billion [2]. - OK Blockchain rose by 5.56%, priced at 0.570, with a market capitalization of 3.061 billion [2]. - Xiong'an Technology increased by 5.31%, with a price of 0.119 and a market cap of 0.0142 billion [2]. - Blueport Interactive rose by 3.95%, priced at 0.790, with a market capitalization of 0.0292 billion [2]. - Mistrategy increased by 3.08%, trading at 4.350, with a market cap of 1.601 billion [2]. - OSL Group rose by 2.97%, priced at 17.350, with a market capitalization of 12.801 billion [2]. - Huajian Medical increased by 2.70%, trading at 8.380, with a market cap of 135.74 billion [2]. - Jinyong Investment rose by 2.25%, priced at 9.980, with a market cap of 25.6 billion [2]. - Huaxing Capital Holdings increased by 2.16%, trading at 7.580, with a market cap of 4.346 billion [2].

迷策略(02440.HK)将于8月28日召开董事会会议以审批中期业绩 迷策略(02440.HK)委任德勤为核数师 相关事件 格隆汇8月18日丨 迷策略(02440.HK)公布，公司将于2025年8月28日召开董事会会议，以(其中包括)审议 及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及审议派发中期股息的建议(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 就 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。 MemeStrategy, Inc. 迷策略 香 港，二 零 二 五 年 八 月 十 八 日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 陳 展 程 先 生、陳 展 俊 先 生、鄺 德 政 先 生 及 李 明 鴻 先 生；及 獨 立 非 執 行 董 事 吳 培 燊 先 生、彭 程 女 士 及 蕭 志 偉 先 生。 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股份代號：2440） 董事會會議召開日期 迷策略（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於 二 零 二五年八月二十八日（星 期 四）舉 行，藉 以（其 中 包 括）考慮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 中 期 業 績 及 其 發 佈 ...

Group 1 - The core viewpoint of the article highlights the strong performance of cryptocurrency ETFs and related stocks, with significant price increases observed in companies such as Huajian Medical (up 18.75%), Mistrategy (up 16.95%), and others [1] - Bitcoin has surpassed the $120,000 mark, reaching a new high since July 18, with Ethereum also breaking the $4,300 level, marking its highest price since 2021 [1] - Analysts attribute the recent surge in cryptocurrency prices to a weakening confidence in the US dollar, while also noting that risks are accumulating due to high-leverage trading leading to a wave of liquidations [1] Group 2 - President Trump has signed an executive order allowing private equity funds, real estate, cryptocurrencies, and other alternative assets to be included in 401(K) retirement accounts, which traditionally focused on safer investments like mutual funds and bonds [1] - The 401(K) retirement savings plan allows employees to invest a portion of their pre-tax salary into various funds, indicating a potential shift in investment strategies for retirement savings [1]