Core Viewpoint - The company expects to report a loss attributable to shareholders of approximately RMB 12 million for the six months ending June 30, 2025, a significant decline from a profit of RMB 335,000 for the same period in 2024 [1] Group 1: Financial Performance - The anticipated shift from profit to loss is primarily due to a decrease in the number of construction projects compared to the same period last year, leading to a reduction in revenue [1] - The company also faces impairment losses on trade and other receivables and contract assets during the current period, whereas the same period last year saw a reversal of impairment losses [1]

Core Viewpoint - The company, Zhongshen Jianye (02503), anticipates a loss attributable to shareholders of approximately RMB 12 million for the six months ending June 30, 2025, contrasting with a profit of approximately RMB 335,000 for the same period ending June 30, 2024 [1] Group 1: Financial Performance - The expected shift from profit to loss is primarily due to a decrease in the number of construction projects compared to the same period last year, leading to a reduction in revenue [1] - The company also faces impairment losses on trade and other receivables and contract assets during the current period, whereas the same period last year saw a reversal of impairment losses [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 本 公 告 所 載 資 料 僅 依 據 本 公 司 管 理 層 根 據 本 集 團 現 時 可 得 資 料（ 包 括 本 集 團 於 本 期 間 的 未 經 審 核 綜 合 管 理 賬 目 ）進 行 的 初 步 評 估 而 作 出 ， 該 等 資 料 未 經 本 公 司 核 數 師 或 審 核 委 員 會 審計或審閱及可能會作出調整及更改。本公司現正落實本集團於本期間的中期業績。本集 團 財 務 資 料 及 業 績 詳 情 將 於 本 集 團 於 本 期 間 之 中 期 業 績 公 佈 時 披 露（ 可 能 有 別 於 本 公 告 所 載資料），預期將於2025年8月29日刊發。 Zhongshen Jianye Holding Limited 中 深 建 業 控 股 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：2503） 盈利警告 本公告乃中深建業控股有限公司（「本公司」，連同其附 ...

Group 1 - The company, Zhongshen Jianye (02503.HK), announced that its board of directors will hold a meeting on August 29, 2025, to consider and approve the publication of the interim results for the six months ending June 30, 2025 [1] - The meeting will also consider the proposal for an interim dividend distribution, if applicable [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，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。 中 深 建 業 控 股 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：2503） 董事會會議日期 Zhongshen Jianye Holding Limited 中深建業控股有限公司 主席兼執行董事 桑先鋒 香港，2025年8月19日 於本公告日期，董事會成員包括執行董事桑先鋒先生及冼玉榮先生；及獨立非執行董事劉志紅女士、曾慶禮 先生及謝華剛先生。 中深建業控股有限公司（「本公司」）董事（「董事」，各自為一名「董事」）會（「董事會」）謹此公 告，董事會將於2025年8月29日（ 星期五 ）舉行會議，藉以（ 其中包括 ）考慮及批准刊發本公 司 及 其 附 屬 公 司 截 至 2025 年 6 月 30 日 止 六 個 月 之 中 期 業 績 ； 及 考 慮 建 議 派 發 中 期 股 息（ 如 有）。 承董事會命 ...

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: 中深建業控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02503 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | 本月底法定/註冊股本 ...

Group 1 - The Hang Seng Index closed down 0.63% at 24,069.94 points on July 3 [1] - Zhongshen Jianye (02503.HK) closed at HKD 0.82 per share, up 15.49%, with a trading volume of 8.668 million shares and a turnover of HKD 8.1581 million, showing a volatility of 36.62% [1] Group 2 - In the past month, Zhongshen Jianye has seen a cumulative decline of 10.13%, while it has increased by 10.94% year-to-date, underperforming the Hang Seng Index which has risen by 20.75% [2] - As of December 31, 2024, Zhongshen Jianye reported total revenue of RMB 751 million, a year-on-year decrease of 50.97%, and a net profit attributable to shareholders of RMB 1.944 million, down 93.89% year-on-year, with a gross margin of 5.51% and a debt-to-asset ratio of 71.12% [2] Group 3 - Currently, there are no institutional investment ratings for Zhongshen Jianye [3] - The average price-to-earnings (P/E) ratio for the construction industry (TTM) is 8.31 times, with a median of 0.42 times. Zhongshen Jianye has a P/E ratio of 208.94 times, ranking 106th in the industry [3] - Zhongshen Jianye Holdings Limited is a developing private general contracting construction company in China, holding five first-class construction contracting qualifications and several second and third-class qualifications covering various specialties [3]

Revenue Performance - The company's revenue decreased from approximately RMB 1,530.9 million in the year ended December 31, 2023, to approximately RMB 750.6 million in the year ended December 31, 2024, representing a decline of 51.0%[11]. - Revenue from construction projects fell by approximately RMB 568.0 million or 57.6%, from RMB 985.5 million in 2023 to RMB 417.5 million in 2024[15]. - Revenue from municipal public works projects decreased by approximately RMB 74.5 million or 21.7%, from RMB 343.6 million in 2023 to RMB 269.0 million in 2024[16]. - Revenue from foundation engineering projects plummeted by approximately RMB 103.6 million or 97.6%, from RMB 106.1 million in 2023 to RMB 2.6 million in 2024[17]. - Revenue from specialized contracting projects decreased by approximately RMB 34.3 million or 35.8% to about RMB 61.5 million for the year ending December 31, 2024, primarily due to the completion of most existing projects[18]. Financial Performance - Total revenue costs for the year ending December 31, 2024, decreased by approximately RMB 732.6 million or 50.8% compared to the previous year, consistent with the reduction in revenue from construction projects[20]. - Gross profit for construction projects was RMB 41.3 million with a gross margin of 5.5% for the year ending December 31, 2024, down from RMB 89.1 million and 5.8% in the previous year[21]. - Net profit for the year ending December 31, 2024, was approximately RMB 1.9 million, a decrease of about 93.9% from RMB 31.8 million in the previous year[28]. - Cash and cash equivalents were approximately RMB 96.7 million as of December 31, 2024, down from RMB 147.1 million in the previous year[29]. - Total bank borrowings as of December 31, 2024, were approximately RMB 56.3 million, compared to RMB 32.3 million in the previous year[30]. - The debt-to-equity ratio increased to approximately 11.8% as of December 31, 2024, from 7.9% in the previous year[31]. - Capital expenditures for the year ending December 31, 2024, were approximately RMB 8.4 million, down from RMB 42.0 million in the previous year[35]. Corporate Governance - The company has adopted a corporate governance code that aligns with the principles and provisions of the listing rules[63]. - The company emphasizes integrity, accountability, and transparency as core values in its corporate culture[64]. - The board consists of two executive directors and three independent non-executive directors, with four board meetings held since the listing date[70]. - The board of directors has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with specific written terms of reference[84]. - The board believes that transition risks driven by policy changes and market expectations are more manageable, allowing for timely adjustments to new procedures[167]. Risk Management - The company has established a risk management and internal control framework based on the COSO framework, focusing on managing key risks to acceptable levels[97]. - The board conducts an annual review of the effectiveness of the company's risk management and internal control systems, which are deemed sufficient and effective[98]. - The company has engaged an independent internal control consultant to review key business processes and internal control systems for the year ending December 31, 2024[97]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a governance framework to oversee environmental, social, and governance (ESG) risks, with a dedicated ESG working group comprising senior management[122]. - The ESG working group meets regularly, at least once a year, to manage and report on ESG-related issues[123]. - The company has set a quantitative target to manage diesel consumption, maintaining it at 2.6 tons per million revenue for 2022 and 2023, with a plan to reduce it to 2.5 tons by 2025[139]. - The company has complied with all applicable environmental laws and regulations, with no significant claims or penalties related to environmental protection during the reporting period[136]. - The company has implemented measures to reduce Scope 3 emissions by considering environmental compliance history and certifications in the selection of suppliers and subcontractors[150]. Employee Management - The company employed a total of 237 employees as of December 31, 2024, compared to 225 in 2023, indicating a growth in workforce[186]. - The overall employee turnover rate increased to 42.7% in the reporting period, up from 30% in 2023, with 94% of the turnover being frontline staff[186]. - The company has established a standardized employment contract with employees, which includes confidentiality clauses and competitive compensation packages[188]. - The company is committed to providing a safe and fair working environment, adhering to labor standards and prohibiting child labor and forced labor[189]. Safety and Quality Control - The company has established a three-tier occupational safety system to address the inherent high safety risks in the construction industry[194]. - The company has achieved GB/T45001-2020/13045001:2018 standard certification for occupational health and safety management systems[193]. - There were no reportable accidents or related lost time injury frequency during the reporting period[198]. - The company has implemented strict quality control measures throughout the construction project lifecycle, ensuring compliance with contractual and technical specifications[177].

Financial Performance - Revenue decreased from approximately RMB 1,530.9 million for the year ended December 31, 2023, to approximately RMB 750.6 million for the year ended December 31, 2024, representing a decline of about 51.0%[3] - Gross profit fell from approximately RMB 89.1 million in 2023 to approximately RMB 41.3 million in 2024, a decrease of about 53.7%[3] - Net profit attributable to the owners of the company decreased from approximately RMB 31.8 million in 2023 to approximately RMB 1.9 million in 2024, a decline of about 94.0%[3] - Operating profit decreased significantly from approximately RMB 47.8 million in 2023 to approximately RMB 2.3 million in 2024, a decline of about 95.2%[5] - The company reported a basic earnings per share of RMB 0.38 for the year ended December 31, 2024, compared to RMB 8.24 in 2023, a decrease of about 95.4%[5] - The net profit for the year ended December 31, 2024, was approximately RMB 1.9 million, a decrease of about 93.9% from RMB 31.8 million in 2023[55] Assets and Liabilities - Total assets decreased from approximately RMB 1,682.7 million in 2023 to approximately RMB 1,648.1 million in 2024, a reduction of about 2.1%[6] - Total liabilities decreased from approximately RMB 1,310.3 million in 2023 to approximately RMB 1,172.2 million in 2024, a decline of about 10.6%[7] - The net asset value as of December 31, 2024, was approximately RMB 476.0 million, an increase of about 27.8% compared to RMB 372.4 million as of December 31, 2023[3] Revenue Breakdown - Revenue from construction services for the year ended December 31, 2024, was RMB 750,556,000, a decrease of 51% compared to RMB 1,530,919,000 for the year ended December 31, 2023[23] - Revenue from construction projects decreased from approximately RMB 985.5 million in 2023 to about RMB 417.5 million in 2024, a reduction of RMB 568.0 million or 57.6%[41] - Revenue from municipal public works projects decreased by approximately RMB 74.5 million or 21.7%, from RMB 343.6 million in 2023 to RMB 269.0 million in 2024[42] - Revenue from foundation engineering projects dropped significantly by approximately RMB 103.6 million or 97.6%, from RMB 106.1 million in 2023 to about RMB 2.6 million in 2024[43][44] - Revenue from specialized contracting projects decreased by approximately RMB 34.3 million or 35.8%, from RMB 95.7 million in 2023 to RMB 61.5 million in 2024[45] Expenses and Costs - Total expenses for the year ended December 31, 2024, were RMB 749,245,000, down from RMB 1,482,983,000 in 2023, indicating a reduction of approximately 49%[25] - The total cost of revenue for the year ended December 31, 2024, was approximately RMB 709.2 million, a decrease of about RMB 732.6 million or 50.8% compared to RMB 1,441.8 million for the year ended December 31, 2023[47] - Administrative expenses decreased by approximately RMB 1.2 million or 2.9% in 2024, mainly due to reduced listing expenses, partially offset by increases in employee costs and professional fees[52] Financing and Cash Flow - The net financing cost for the year ended December 31, 2024, was RMB (2,996,000), compared to RMB (2,177,000) in 2023, reflecting an increase in financing costs[25] - Cash and cash equivalents as of December 31, 2024, were approximately RMB 96.7 million, down from RMB 147.1 million in 2023[56] - Total bank borrowings increased to RMB 56.4 million in 2024 from RMB 29.3 million in 2023, reflecting a growth of 92.5%[35] - The debt-to-equity ratio as of December 31, 2024, was approximately 11.8%, up from 7.9% in 2023[58] Dividends and Shareholder Returns - The company does not recommend the payment of any final dividend for the year ended December 31, 2024, consistent with the previous year[4] - The company did not declare or pay any dividends for the year ended December 31, 2024, consistent with 2023[30] Trade Receivables - Trade receivables increased to RMB 249.6 million in 2024 from RMB 140.7 million in 2023, representing a growth of 77.3%[32] - The net amount of trade receivables after impairment provisions was RMB 240.4 million in 2024, compared to RMB 137.3 million in 2023[32] - The company provided a credit period of no more than one month to customers, with trade receivables aging analysis showing RMB 177.3 million within one year in 2024, up from RMB 111.1 million in 2023[33] Company Operations and Market Position - The company has been primarily engaged in providing construction services in the People's Republic of China[9] - The company was recognized as one of the "Top 500 Enterprises in Shenzhen" for five consecutive years from 2020 to 2024[38] - The construction market in Guangdong Province recorded a compound annual growth rate (CAGR) of approximately 13.4%, increasing from about RMB 229.57 billion in 2018 to RMB 229.57 billion in 2022, and is expected to continue growing at a CAGR of about 8.3% to reach approximately RMB 342.61 billion by 2027[66] Future Plans and Investments - The company plans to use approximately HKD 30 million from the net proceeds of share subscriptions for potential acquisitions of construction companies with municipal engineering qualifications and good track records[68] - The net proceeds from the share subscriptions, after deducting underwriting commissions and listing expenses, are approximately RMB 773 million, with specific allocations for various projects detailed in the prospectus[69] - As of December 31, 2024, the company has utilized RMB 42.4 million of the net proceeds, with RMB 34.9 million remaining to be used by the end of 2025 and 2026 for equipment purchases and hiring additional staff[69] Compliance and Reporting - The audit committee is responsible for reviewing and supervising the financial reporting process and internal control systems of the group, ensuring compliance with corporate governance measures[76] - The company's auditor has confirmed that the figures in the preliminary announcement are consistent with the audited financial statements for the year ended December 31, 2024[77] - The annual report for the year ended December 31, 2024, will be provided to shareholders in accordance with listing rules and published on the stock exchange and the company's website[78]

Revenue Performance - Revenue for the six months ended June 30, 2024, decreased by approximately RMB 116.8 million or 23.5% to RMB 379.0 million compared to RMB 495.8 million for the same period in 2023[17] - Construction project revenue decreased by approximately RMB 32.5 million or 11.6% to RMB 246.9 million for the six months ended June 30, 2024, from RMB 279.4 million in 2023[19] - Municipal public works project revenue increased by approximately RMB 33.2 million or 35.9% to RMB 126.1 million for the six months ended June 30, 2024, compared to RMB 92.9 million in 2023[20] - Foundation engineering project revenue decreased significantly by approximately RMB 51.3 million or 95.5% to RMB 2.4 million for the six months ended June 30, 2024, from RMB 53.7 million in 2023[21] - Professional contracting project revenue decreased by approximately RMB 66.2 million or 94.9% to RMB 3.6 million for the six months ended June 30, 2024, compared to RMB 69.8 million in 2023[22] - Revenue for the six months ended June 30, 2024, was RMB 379,026 thousand, a decrease of 23.5% compared to RMB 495,780 thousand for the same period in 2023[64] Cost and Profitability - Total cost of revenue for the six months ended June 30, 2024, was RMB 357.4 million, down from RMB 467.2 million in 2023[23] - Revenue costs for the six months ended June 30, 2024, decreased by approximately RMB 109.8 million or 23.5% compared to the same period in 2023, primarily due to a reduction in the number of engineering projects leading to decreased demand for raw materials and lower equipment and machinery usage costs[25] - Gross profit for construction projects for the six months ended June 30, 2024, was RMB 21,673 thousand with a gross margin of 5.7%, compared to RMB 28,547 thousand and a gross margin of 5.8% for the same period in 2023[26] - Operating profit decreased to RMB 3,644 thousand, a decline of 77.9% from RMB 16,465 thousand in the previous year[64] - Profit for the period decreased by approximately 96.9% to RMB 0.3 million for the six months ended June 30, 2024, compared to RMB 10.8 million for the same period in 2023, primarily due to reduced revenue and gross profit along with increased administrative expenses[28] - Adjusted profit for the six months ended June 30, 2024, was RMB 1,898 thousand, down from RMB 13,154 thousand in the same period of 2023[29] Expenses and Administrative Costs - Administrative expenses increased by approximately RMB 3.8 million or 23.3% for the six months ended June 30, 2024, mainly due to increased labor costs and professional fees[28] - The group’s total expenses for the six months ended June 30, 2024, amounted to RMB 377,517,000, compared to RMB 483,588,000 in the same period of 2023[83] Financial Position - Cash and cash equivalents as of June 30, 2024, were approximately RMB 105.1 million, down from RMB 147.1 million as of December 31, 2023[30] - Bank borrowings as of June 30, 2024, amounted to approximately RMB 27.8 million, a decrease from RMB 29.3 million as of December 31, 2023[31] - The debt-to-equity ratio as of June 30, 2024, was approximately 5.9%, down from 7.9% as of December 31, 2023[32] - Total assets as of June 30, 2024, were RMB 1,535,348 thousand, down from RMB 1,682,716 thousand at the end of 2023[65] - Current assets decreased to RMB 1,470,717 thousand from RMB 1,619,313 thousand at the end of 2023[65] - Total liabilities decreased from RMB 1,310,292 thousand as of December 31, 2023, to RMB 1,060,981 thousand as of June 30, 2024, representing a reduction of approximately 19.0%[66] - Total equity increased from RMB 1,682,716 thousand as of December 31, 2023, to RMB 1,535,348 thousand as of June 30, 2024, indicating a decrease of about 8.8%[66] Employee and Management Information - As of June 30, 2024, the total employee cost was approximately RMB 12.7 million, an increase from RMB 9.8 million in the same period last year[36] - The company employed a total of 257 employees, all located in China, and faced no significant hiring or retention issues[36] - The total remuneration for key management personnel for the six months ended June 30, 2024, was RMB 1,261 thousand, an increase from RMB 1,179 thousand for the same period in 2023, showing a growth of about 7.0%[125] Market and Strategic Outlook - The construction market in Guangdong Province recorded a compound annual growth rate (CAGR) of approximately 13.4% from 2018 to 2022, reaching about RMB 229.57 billion in 2022, with expectations of further growth to approximately RMB 342.61 billion by 2027 at a CAGR of about 8.3%[39] - The company is focused on expanding its construction services in response to favorable government policies aimed at increasing infrastructure development[39] - The company aims to enhance its market share in the construction services sector by leveraging its extensive experience and knowledge[39] Shareholder and Compliance Information - As of June 30, 2024, Mr. Sang Xianfeng held 55.20% of the shares through controlled corporations, while Mr. Xian Yulong held 13.80%[47] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the relevant regulations[43] - The company has appointed Huifu Financing Limited as its compliance advisor[57] Capital and Financing Activities - The company plans to allocate approximately RMB 77.3 million from its IPO proceeds for various purposes, including RMB 35.3 million for capital needs and cash flow, and RMB 31.9 million for equipment and machinery acquisition[40] - The company raised RMB 117,032 thousand from share placements and public offerings during the financing activities in the six months ended June 30, 2024[69] Dividend and Retained Earnings - No interim dividend was recommended for the six months ended June 30, 2024[41] - The group did not declare or pay any dividends for the six months ended June 30, 2024, consistent with the same period in 2023[96] - The company’s retained earnings increased from RMB 12,406 thousand as of January 1, 2023, to RMB 39,784 thousand as of January 1, 2024, representing an increase of approximately 221.5%[67]