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。 – 1 – 董事認為，落實執行上述整改措施將會鞏固及加強負責人員、高級管理層及董 事對上市規則項下的法律知識及遵規認知，並確保對交易進行正確分類及就 建議交易作出適時匯報，進而降低日後發生類似未遵規事件的可能性。 承董事會命 FAR International Holdings Group Company Limited 泛遠國際控股集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2516） 補充公告 須予披露交易 預售合約 茲提述本公司日期為2025年9月22日的公告，內容有關訂立六份預售合約以收 購位於中國杭州市的物業（「該公告」）。除另有指明者外，本公告所用詞彙與該 公告所界定者具有相同涵義。 鑒於該公告所述內容出現一項無心且非故意產生的誤解，本公司已延遲刊發 該公告，並構成違反上市規則第14.34條規定。為避免再次發生上述事件及確 保本公司於日後將全面遵守上市規則第十四章項下的披露規 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 泛遠國際控股集團有限公司 呈交日期: 2025年10月8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) | 02516 | 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 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | FF301 II. 已發行股份及/或庫存股 ...

Company Overview [Company Profile and Business Model](index=3&type=section&id=Company%20Profile%20and%20Business%20Model) Fanyuan International Holdings Group Limited, a prominent cross-border e-commerce logistics service provider listed on the Main Board of the Stock Exchange on December 22, 2023, offers end-to-end cross-border logistics services with a customer-centric approach and customized supply chain solutions - The Company was listed on the Main Board of the Stock Exchange on **December 22, 2023**, as a renowned cross-border e-commerce logistics service provider[6](index=6&type=chunk) - The Company's headquarters are in China, primarily providing end-to-end cross-border logistics services with service outlets in major Chinese trade centers[6](index=6&type=chunk) - The Company offers flexible and reliable delivery options, manages the entire logistics value chain, and customizes supply chain solutions based on client needs[7](index=7&type=chunk) Company Information [Board and Committee Composition](index=4&type=section&id=Board%20and%20Committee%20Composition) This section details the Board of Directors, Company Secretary, authorized representatives, and members of the Audit, Remuneration, Nomination, and Investment Committees, along with auditor and legal counsel information - Board members include Executive Directors Mr. Wang Quan (Chairman), Mr. Yang Zhilong, Mr. Zhang Guangyang, Mr. Zhu Jiong, Non-executive Directors Mr. Wei Ran, Mr. Yao Shenjie, and Independent Non-executive Directors Mr. Ye Xingyue, Mr. Ren Tiangan, and Ms. Wang Jiaofei[8](index=8&type=chunk) - The Company Secretary is Mr. Liang Lesheng (appointed on April 30, 2025), and the Auditor is BDO Limited[8](index=8&type=chunk) [Registration and Operating Locations](index=5&type=section&id=Registration%20and%20Operating%20Locations) This section outlines the Company's registered office, China headquarters, principal place of business in Hong Kong, share registrar, principal bankers, stock code, company website, and listing date - The Company's registered office is in the Cayman Islands, China headquarters in Gongshu District, Hangzhou, Zhejiang Province, and principal place of business in Hong Kong is in Central[9](index=9&type=chunk) - The Hong Kong share registrar is Hong Kong Registrars Limited, and the principal bankers are Hangzhou United Rural Commercial Bank Co., Ltd. (Shiqiao Branch)[9](index=9&type=chunk) - The Company's stock code is **2516**, and the listing date was **December 22, 2023**[9](index=9&type=chunk) Financial Summary [Group Performance and Balance Sheet Summary](index=6&type=section&id=Group%20Performance%20and%20Balance%20Sheet%20Summary) For the six months ended June 30, 2025, the Group's revenue decreased by 43.4% year-on-year to RMB 808.2 million, turning from profit to a loss of RMB 14.49 million for the period, with total assets and liabilities decreasing and net assets slightly down by 3.9% Group Performance Summary (for the six months ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 808,208 | 1,427,976 | (43.4%) | | Gross profit | 73,693 | 104,799 | (29.7%) | | (Loss) Profit before tax | (14,802) | 40,041 | (137.0%) | | (Loss) Profit for the period | (14,489) | 38,062 | (138.1%) | | (Loss) Profit for the period attributable to owners of the parent | (14,350) | 38,093 | (137.7%) | Group Assets and Liabilities Summary | Metric | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Total assets | 1,442,701 | 1,722,331 | (16.2%) | | Total liabilities | (748,885) | (1,000,036) | (25.1%) | | Net assets | 693,816 | 722,295 | (3.9%) | | Total equity attributable to owners of the Company | 694,017 | 722,713 | (4.0%) | Management Discussion and Analysis [Business Review](index=7&type=section&id=Business%20Review) In the first half of 2025, China's goods trade imports and exports increased by 2.9%, and cross-border e-commerce by 5.7%; however, the Group's total revenue decreased by 43.4% to RMB 800 million, resulting in a loss, as the Company actively responded to US tariff changes by acquiring US logistics equity and joining the Amazon service network to enhance competitiveness and expand markets - In the first half of 2025, China's total goods trade import and export value was approximately **RMB 21.79 trillion**, an increase of **2.9%** year-on-year; cross-border e-commerce import and export value was approximately **RMB 1.32 trillion**, an increase of **5.7%** year-on-year[13](index=13&type=chunk)[14](index=14&type=chunk) - The Group's total revenue in the first half of 2025 reached approximately **RMB 800 million**, a decrease of **43.4%** compared to the same period in 2024; loss attributable to owners of the Company was approximately **RMB 14.4 million**, compared to a profit of **RMB 38.1 million** in the same period of 2024[15](index=15&type=chunk) - Changes in US tariff policies impacted the Group's export business to the United States, with the Company implementing measures such as close policy monitoring, service adjustments, tariff cost pass-through, optimized logistics route design, diversified revenue streams, and strengthened overseas infrastructure development[16](index=16&type=chunk)[19](index=19&type=chunk) - The Group primarily provides end-to-end cross-border delivery services (accounting for approximately **62.1%** of total revenue), freight forwarding services (accounting for approximately **5.8%**), and other logistics services (accounting for approximately **32.1%**)[17](index=17&type=chunk) - The Company's indirect wholly-owned subsidiary, Ingrun Holdings Limited, acquired a **30% equity interest** in US logistics company Advanced Logistics Solutions LLC to enhance competitiveness in the US and overseas logistics networks[18](index=18&type=chunk) - Hangzhou Fanyuan International Logistics Co., Ltd. joined the Amazon service provider network and was recognized as a benchmark logistics enterprise in Hangzhou for 2025[20](index=20&type=chunk) [Financial Review](index=9&type=section&id=Financial%20Review) The Group's revenue for the first half of 2025 significantly decreased by 43.4% due to US tariff policy changes, leading to a 29.7% reduction in gross profit, though the gross profit margin increased due to service mix shifts; the period turned from profit to loss, mainly impacted by reduced gross profit, increased impairment losses, and higher finance costs, while net current assets and gearing ratio both declined - Revenue: For the six months ended June 30, 2025, revenue was approximately **RMB 800 million**, a **43.4% decrease** from the same period in 2024, primarily due to reduced freight volume caused by changes in US tariff policies[21](index=21&type=chunk) - Cost of sales: Cost of sales decreased by **44.5%** year-on-year to approximately **RMB 700 million**, primarily related to changes in revenue[22](index=22&type=chunk) - Gross profit: Gross profit was approximately **RMB 73.7 million**, a **29.7% decrease** year-on-year. Gross profit margin increased from **7.3% to 9.1%**, mainly due to a reduced proportion of lower-margin freight forwarding services and an increase in gross profit margin for other logistics services, partially offset by a decrease in gross profit margin for end-to-end cross-border delivery services[23](index=23&type=chunk)[24](index=24&type=chunk) - Other income, gains and losses, net: A net loss of approximately **RMB 5.2 million** was recorded, an improvement from a net loss of **RMB 9.2 million** in the same period last year, primarily due to reduced exchange losses[25](index=25&type=chunk) - Impairment loss on trade and other receivables: Impairment loss was approximately **RMB 14.4 million**, an increase from the same period last year, primarily due to a slower client repayment speed leading to a higher expected credit loss rate[26](index=26&type=chunk) - Finance costs: Finance costs increased by **25.5%** to approximately **RMB 9.7 million**, primarily due to an increase in bank borrowings during the period[27](index=27&type=chunk) - Loss for the period: The Group recorded a loss of approximately **RMB 14.4 million** for the period ended June 30, 2025, turning from a profit of approximately **RMB 38.1 million** in the same period of 2024[30](index=30&type=chunk) - Trade receivables: As of June 30, 2025, trade receivables were approximately **RMB 429.2 million**, a **35.0% decrease** from approximately **RMB 660.4 million** as of December 31, 2024[31](index=31&type=chunk) - Trade payables: As of June 30, 2025, trade payables were approximately **RMB 59.1 million**, a **29.0% decrease** from approximately **RMB 83.3 million** as of December 31, 2024[32](index=32&type=chunk) - Liquidity: Net current assets were approximately **RMB 484.6 million**, with bank balances and cash of approximately **RMB 4

Core Viewpoint - The company, Fan Yuan International, has announced the acquisition of a property in Hangzhou, China, for a total consideration of RMB 52.33 million, aiming to reduce future rental expenses by securing its own office space [1] Group 1: Acquisition Details - The buyer, Hangzhou Fan Yuan International Logistics Co., Ltd., is an indirect wholly-owned subsidiary of the company [1] - Six pre-sale agreements have been signed with the seller, Hangzhou Xingyi Real Estate Co., Ltd., for the purchase of the property [1] - The property, named Xinming Yueming Building No. 2, is currently under construction and will serve commercial and office purposes [1] Group 2: Property Specifications - The building consists of 6 floors, including 5 above ground and 1 underground [1] - The property has obtained a pre-sale permit from the Hangzhou Housing Security and Real Estate Administration Bureau as of March 2025 [1] - The pre-sale agreements include specific units and parking spaces within the building [1] Group 3: Strategic Rationale - The company views the current low prices in the Chinese real estate market as a favorable opportunity for acquiring its own property [1] - The acquisition is expected to effectively reduce the company's monthly rental expenses and cash outflows in the long term [1]

泛远国际(02516)发布公告，于2025年6月，买方杭州泛远国际物流有限公司(为公司的间接全资附属公 司)与卖方杭州星怡置业有限公司分别订立六份预售合约(经补充协议补充)，以收购位于中国杭州市的物 业，总代价为人民币5232.33万元。 物业所属楼宇名为新明悦铭座2号楼(楼宇)，目前仍在位于中国杭州市拱墅区的一幅土地上建设中。楼 宇总层数为6层，包括地上5层及地下1层，可作商业及办公室用途。楼宇已于2025年3月取得杭州市住房 保障和房产管理局发出的预售许可证。预售合约标的事项包括新明悦铭座2号楼1号、2号楼201号、2号 楼301号、2号楼401号、2号楼501号及2号楼01至03及05至08号车位。 预售合约完成后，物业将用作集团日后的办公室。目前，公司位于中国浙江省杭州市拱墅区长城街22号 杭州跨境电子商务产业园201室的总部为租赁物业。鉴于中国房地产市场目前价格相对较低，公司认为 此乃集团收购其自有物业用作集团办公室的良机，长远可有效减少集团未来的每月租金开支及现金流 出。 ...

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。 FAR International Holdings Group Company Limited 泛遠國際控股集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2516） 須予披露交易 預售合約 收購物業 於2025年6月，買方（為本公司的間接全資附屬公司）與賣方分別訂立六份預 售合約（經補充協議補充），以收購位於中國杭州市的物業，總代價為人民幣 52,323,299元。 上市規則的涵義 根據上市規則第14.22條，倘一連串交易全部均於12個月內訂立或屬彼此相關 者，則該等交易將合併計算並視作為一項交易處理。 預售合約均與同一賣方杭州星怡置業有限公司（為獨立第三方）訂立，且其性 質相近。因此，預售合約項下擬進行的交易須合併計算。 – 1 – 儘管各預售合約項下擬進行交易所涉及的最高適用百分比率按獨立基準計 算低於5%，全部預售合約項下擬進行交易所涉及的最高適用百分比率按合 併基準計算超過5%但 ...

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: 泛遠國際控股集團有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02516 | 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 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | 本月底法定/註冊股本總額： HKD 20,0 ...

Core Insights - The company reported a revenue of 808 million yuan for the six months ending June 30, 2025, representing a year-on-year decrease of 43.4% [1] - The company recorded a loss attributable to shareholders of 14.35 million yuan, compared to a profit of 38.09 million yuan in the same period last year [1] - The loss per share was 1.85 cents [1] Revenue Breakdown - The end-to-end cross-border delivery service generated approximately 502 million yuan in revenue, accounting for about 62.1% of the total revenue [1] - The freight forwarding service achieved a revenue of approximately 46.6 million yuan, representing about 5.8% of the total revenue [1]

Core Points - The company reported a revenue of 808 million, representing a year-on-year decrease of 43.4% [1] - The loss attributable to the company's owners was 14.35 million, compared to a profit of 38.09 million in the same period last year [1] - The loss per share was 1.85 cents [1] Revenue Breakdown - The end-to-end cross-border delivery service generated approximately 502 million in revenue, accounting for about 62.1% of the total revenue [1] - The freight forwarding service generated approximately 46.6 million in revenue, making up about 5.8% of the total revenue [1]

[Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group reported a net loss of RMB 14.49 million, a significant decline from a net profit of RMB 38.06 million in the prior year, with revenue decreasing by 43.4% to RMB 808 million and gross profit by 29.7% Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 808,208 | 1,427,976 | -43.4% | | Cost of sales | (734,515) | (1,323,177) | -44.5% | | Gross profit | 73,693 | 104,799 | -29.7% | | (Loss) Profit before tax | (14,802) | 40,041 | Turned to loss | | (Loss) Profit for the period | (14,489) | 38,062 | Turned to loss | | Basic and diluted (loss) earnings per share (RMB cents) | (1.85) | 4.88 | Turned to loss | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets and liabilities decreased, with a slight reduction in net current assets and total equity, but an increase in bank balances and cash Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | 214,039 | 190,771 | +12.2% | | Current assets | 1,228,662 | 1,531,560 | -19.8% | | Current liabilities | 744,051 | 996,300 | -25.3% | | Net current assets | 484,611 | 535,260 | -9.46% | | Total assets less current liabilities | 698,650 | 726,031 | -3.77% | | Non-current liabilities | 4,834 | 3,736 | +29.4% | | Total equity | 693,816 | 722,295 | -3.94% | | Trade receivables | 429,247 | 660,409 | -35.0% | | Trade payables | 59,099 | 83,252 | -29.0% | | Bank balances and cash | 485,408 | 448,633 | +8.2% | [Notes to the Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section details the basis of preparation, accounting policies, and changes in financial data, including revenue, segment information, other income, tax, earnings per share, receivables, payables, share capital, and fair value measurement of financial instruments, providing deeper context for understanding the financial position [1. Basis of Preparation](index=6&type=section&id=1.%20Basis%20of%20Preparation) The Group's condensed consolidated financial statements are prepared in accordance with HKAS 34 'Interim Financial Reporting' and the Listing Rules, primarily engaging in end-to-end cross-border delivery, freight forwarding, and other logistics services - The Company was incorporated in the Cayman Islands on November 24, 2022, and listed on the Main Board of the Stock Exchange of Hong Kong on December 22, 2023[9](index=9&type=chunk) - The Group is principally engaged in providing end-to-end cross-border delivery services, freight forwarding services, and other logistics services[9](index=9&type=chunk) - The condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants[9](index=9&type=chunk) [2. Accounting Policies](index=6&type=section&id=2.%20Accounting%20Policies) The condensed consolidated financial statements are prepared on a historical cost basis, consistent with the annual consolidated financial statements for the year ended December 31, 2024, with no significant impact from new HKFRS amendments during the period - The condensed consolidated financial statements have been prepared on the historical cost basis, except for certain financial instruments which are measured at fair value at the end of each reporting period[10](index=10&type=chunk) - The application of the amendments to Hong Kong Financial Reporting Standards in the current interim period has had no significant impact on the Group’s financial performance and position[11](index=11&type=chunk) [3. Revenue](index=7&type=section&id=3.%20Revenue) The Group's total revenue for the six months ended June 30, 2025, was RMB 808 million, a 43.4% decrease from RMB 1,428 million in the prior year, with all major service lines experiencing reductions, particularly freight forwarding services Revenue by Service Line | Service Line | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | End-to-end cross-border delivery services | 501,831 | 648,712 | -22.6% | | Freight forwarding services | 46,617 | 315,065 | -85.2% | | Other logistics services | 259,760 | 464,199 | -44.0% | | **Total Revenue** | **808,208** | **1,427,976** | **-43.4%** | Revenue Recognition Timing | Revenue Recognition Timing | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Over time | 501,831 | 648,712 | | At a point in time | 306,377 | 779,264 | | **Total** | **808,208** | **1,427,976** | [4. Segment Information](index=8&type=section&id=4.%20Segment%20Information) The Group's operating decision-makers primarily review overall operating results, with Mainland China remaining the main revenue source despite a significant year-on-year decline, while Hong Kong revenue grew substantially, and key customer A1's contribution decreased significantly - The Group is principally engaged in providing end-to-end cross-border delivery services, freight forwarding services, and other logistics services, with the chief operating decision-maker reviewing the Group's overall operating results[17](index=17&type=chunk) Revenue by Geographical Location | Geographical Location | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Mainland China | 715,830 | 1,386,260 | -48.4% | | Hong Kong | 69,518 | 21,629 | +221.4% | | United States | 8,728 | 11,907 | -26.7% | | Singapore | 12,427 | 5,263 | +136.1% | | United Kingdom | — | 93 | -100% | | Other countries and regions | 1,705 | 2,824 | -39.6% | | **Total** | **808,208** | **1,427,976** | **-43.4%** | Revenue from Major Customers | Customer | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Customer A1 | 243,654 | 748,424 | | Customer B2 | Not applicable | 151,030 | [5. Other Income, Gains and Losses, Net](index=10&type=section&id=5.%20Other%20Income%2C%20Gains%20and%20Losses%2C%20Net) Net other income, gains, and losses improved to a loss of RMB 5.2 million from RMB 9.2 million in the prior year, primarily due to reduced exchange losses and increased bank interest income, partially offset by decreased government grants and increased write-offs of prepayments Other Income, Gains and Losses, Net | Item | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Bank interest income | 3,623 | 2,798 | | Government grants | 954 | 3,214 | | (Loss) gain from fair value changes of financial assets at fair value through profit or loss | (55) | 518 | | Exchange differences | (6,299) | (17,646) | | Write-off of prepayments | (3,654) | — | | Miscellaneous income | 379 | 1,893 | | **Total** | **(5,205)** | **(9,230)** | - Exchange losses decreased from **RMB 17.6 million to RMB 6.3 million**, and bank interest income increased by approximately **RMB 0.8 million**[24](index=24&type=chunk) - Government grants decreased by approximately **RMB 2.3 million**, and write-off of prepayments increased by approximately **RMB 3.7 million**[24](index=24&type=chunk) [6. Income Tax (Credit) Expense](index=11&type=section&id=6.%20Income%20Tax%20(Credit)%20Expense) This period saw an income tax credit of RMB 0.31 million, a shift from an expense of RMB 1.98 million in the prior year, primarily due to increased deferred tax credits resulting from the period's loss and higher impairment of trade receivables' expected credit losses Income Tax (Credit) Expense | Item | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Current income tax | 4,257 | 3,095 | | Deferred tax | (4,570) | (1,116) | | **Total** | **(313)** | **1,979** | - The fluctuation in income tax expense was mainly due to the Group's loss position during the period and an increase in deferred tax credit resulting from increased impairment of expected credit losses on trade receivables[56](index=56&type=chunk) [7. (Loss) Profit for the Period](index=11&type=section&id=7.%20(Loss)%20Profit%20for%20the%20Period) The period recorded a loss of RMB 14.49 million, primarily impacted by reduced gross profit, increased impairment losses, and higher finance costs, partially offset by improved other losses and decreased income tax expense Selected Items Affecting (Loss) Profit for the Period | Item | Six Months Ended June 30, 2025 (RMB Thousand) | Six Months Ended June 30, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Total staff costs | 44,272 | 38,702 | | Research and development costs | 973 | 652 | | Impairment loss on goodwill | 18,099 | — | | Impairment loss on trade and other receivables | 14,423 | 7,423 | | Depreciation of property, plant and equipment | 2,270 | 2,531 | | Depreciation of right-of-use assets | 4,447 | 5,163 | - The loss for the period was mainly attributable to a decrease in gross profit of approximately **RMB 31.1 million**, an increase in impairment losses of approximately **RMB 25.1 million**, and an increase in finance costs of approximately **RMB 2.0 million**[57](index=57&type=chunk) - This was partially offset by an improvement in other losses of approximately **RMB 2.0 million** and a decrease in income tax expense of approximately **RMB 2.3 million**[57](index=57&type=chunk) [8. Dividends](index=12&type=section&id=8.%20Dividends) For the period ended June 30, 2025, the Group neither paid nor declared any dividends, nor were any dividends proposed - No dividends were paid or declared for the period ended June 30, 2025, and no dividends have been proposed since the end of the reporting period (six months ended June 30, 2024: nil)[28](index=28&type=chunk) [9. (Loss) Earnings Per Share](index=12&type=section&id=9.%20(Loss)%20Earnings%20Per%20Share) Basic and diluted loss per share attributable to owners of the Company was RMB 1.85 cents, compared to earnings per share of RMB 4.88 cents in the prior year, with basic and diluted figures being the same due to no potentially dilutive ordinary shares (Loss) Earnings Per Share | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | (Loss) profit for the purpose of calculating basic and diluted (loss) earnings per share (RMB Thousand) | (14,350) | 38,093 | | Weighted average number of ordinary shares (Thousand shares) | 777,212 | 780,000 | | Basic and diluted (loss) earnings per share (RMB cents) | (1.85) | 4.88 | - The diluted (loss) earnings per share is the same as the basic (loss) earnings per share as there were no potentially dilutive ordinary shares outstanding during both periods[30](index=30&type=chunk) [10. Trade Receivables](index=13&type=section&id=10.%20Trade%20Receivables) As of June 30, 2025, net trade receivables were RMB 429 million, a 35.0% decrease from December 31, 2024, primarily due to reduced average monthly revenue, with a significant drop in receivables within 3 months Trade Receivables | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Trade receivables | 479,457 | 696,121 | | Less: Provision for impairment loss on trade receivables | (50,210) | (35,712) | | **Net** | **429,247** | **660,409** | Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Within 3 months | 178,474 | 527,224 | | 4 to 12 months | 241,769 | 128,561 | | Over 1 to 2 years | 9,004 | 4,624 | | **Total** | **429,247** | **660,409** | - The Group grants credit periods of 0 to 90 days to its trade customers and does not hold any collateral over its trade receivables[32](index=32&type=chunk) [11. Trade Payables](index=14&type=section&id=11.%20Trade%20Payables) As of June 30, 2025, trade payables were RMB 59.1 million, a 29.0% decrease from December 31, 2024, primarily due to reduced average monthly cost of sales, with an average credit period of up to 90 days Trade Payables | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Trade payables | 59,099 | 83,252 | Ageing Analysis of Trade Payables | Ageing | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Within 3 months | 46,991 | 73,507 | | 4 to 12 months | 7,521 | 7,562 | | Over 1 to 2 years | 3,380 | 1,339 | | Over 2 to 3 years | 1,207 | 844 | | **Total** | **59,099** | **83,252** | - The average credit period is up to 90 days, and the Group has financial risk management policies or plans in place for the credit period of its payables[34](index=34&type=chunk) [12. Share Capital](index=14&type=section&id=12.%20Share%20Capital) As of June 30, 2025, the Company's issued and fully paid ordinary share capital remained at RMB 7.075 million, with 780 million shares, consistent with December 31, 2024 Share Capital | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Issued and fully paid share capital | 7,075 | 7,075 | Issued Shares | Item | Number of Issued Shares (Thousand shares) | Share Capital (RMB Thousand) | | :--- | :--- | :--- | | As at January 1, 2024, December 31, 2024, January 1, 2025 and June 30, 2025 | 780,000 | 7,075 | [13. Fair Value Measurement of Financial Instruments](index=15&type=section&id=13.%20Fair%20Value%20Measurement%20of%20Financial%20Instruments) The Group's fair value measurement of financial instruments primarily uses Level 2 inputs, with a slight decrease in the fair value of unlisted funds, and management believes the carrying amounts of other financial assets and liabilities at amortized cost approximate their fair values - The fair value of all financial assets and financial liabilities is determined using generally accepted pricing models based on discounted cash flow analysis[36](index=36&type=chunk) Financial Assets at Fair Value Through Profit or Loss | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Financial assets at fair value through profit or loss - Unlisted funds | 59,975 | 60,030 | - The fair value measurement of unlisted funds is classified as Level 2, with the valuation method being the fund manager's quotation[39](index=39&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business performance, market environment, future outlook, and detailed financial analysis for the six months ended June 30, 2025, highlighting a shift from profit to loss due to US tariff policy changes, while outlining strategic responses including platform cooperation, business expansion, overseas deployment, and increased AI technology investment [Business Review](index=17&type=section&id=Business%20Review) In the first half of 2025, the Group faced challenges from US tariff policy changes, leading to a decline in total revenue and a shift from profit to loss, yet the Chinese foreign trade and cross-border e-commerce markets continued to grow, prompting the Group to adjust service strategies and advance overseas expansion [Market Overview](index=17&type=section&id=Market%20Overview) In the first half of 2025, China's goods trade imports and exports grew by 2.9% year-on-year, with exports up 7.2%, and cross-border e-commerce imports and exports increased by 5.7%, outpacing overall foreign trade and becoming a new growth driver for cross-border logistics - In the first half of 2025, China's total goods trade imports and exports reached **RMB 21.79 trillion**, a year-on-year increase of **2.9%**, with total exports of approximately **RMB 13 trillion**, a year-on-year increase of **7.2%**[40](index=40&type=chunk) - In the first half of 2025, China's cross-border e-commerce imports and exports amounted to approximately **RMB 1.32 trillion**, a year-on-year increase of **5.7%**, 2.8 percentage points higher than the overall growth rate of China's foreign trade[41](index=41&type=chunk) [Company Business and Response Strategies](index=18&type=section&id=Company%20Business%20and%20Response%20Strategies) The Group's total revenue for the first half decreased by 43.4% year-on-year to approximately RMB 800 million, resulting in a loss of RMB 14.4 million, primarily due to changes in US tariff policies, prompting the Group to monitor tariffs, optimize logistics routes, and strengthen overseas infrastructure Key Financial Performance | Indicator | First Half 2025 (RMB Million) | First Half 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 800 | 1,400 | -43.4% | | (Loss) Profit attributable to owners of the Company | (14.4) | 38.1 | Turned to loss | - Changes in US tariff policies impacted the Group's export business to the United States, leading to a decline in revenue and profit[42](index=42&type=chunk) - Response measures include: closely monitoring US tariff policies and passing on costs; designing optimized logistics routes and expanding into emerging markets such as Southeast Asia, South America, and the Middle East; and strengthening infrastructure such as overseas warehouses, customs clearance, and last-mile delivery[43](index=43&type=chunk) [Business Breakthroughs and Developments](index=19&type=section&id=Business%20Breakthroughs%20and%20Developments) In the first half of 2025, the Group achieved several business breakthroughs, including acquiring a stake in a US logistics company to enhance its overseas network, Hangzhou Faryuan joining Amazon's service provider network and being recognized as a benchmark logistics enterprise, and the Company receiving the 'Annual Value Company' award at the '2024 Hong Kong Stock Golden Intelligence Awards' - Ingrun Holdings Limited, an indirect wholly-owned subsidiary of the Company, acquired a **30% equity interest** in Advanced Logistics Solutions LLC, a US logistics company, to enhance its overseas logistics network competitiveness[44](index=44&type=chunk) - Hangzhou Faryuan International Logistics Co, Ltd. officially joined the Amazon service provider network and was recognized as a benchmark logistics enterprise for Hangzhou City in 2025[45](index=45&type=chunk) - The Company received the "Annual Value Company" award at the inaugural "2024 Hong Kong Stock Golden Intelligence Awards"[45](index=45&type=chunk) [Future Outlook and Prospects](index=20&type=section&id=Future%20Outlook%20and%20Prospects) The Group anticipates continued growth in the global cross-border logistics industry, despite potential short-term slowdowns due to US tariffs, with future strategies focusing on deepening platform cooperation, expanding business scale, accelerating overseas deployment, and increasing AI technology investment for digital and intelligent operations [Market Outlook](index=20&type=section&id=Market%20Outlook) Advances in logistics technology, including automation, data analytics, and AI, are expected to enhance supply chain efficiency, while global trade and cross-border e-commerce growth will drive cross-border transactions, with China's cross-border e-commerce logistics market projected to reach RMB 5.7 trillion by 2029, growing at a CAGR of 7.3% from 2024 to 2029, though short-term growth may slow due to US tariffs - Advances in logistics technology, such as automation, data analytics, and artificial intelligence, are expected to further enhance supply chain efficiency[46](index=46&type=chunk) - The market size of China's cross-border e-commerce logistics increased from **RMB 1.9 trillion in 2019 to RMB 4.0 trillion in 2024**, with a compound annual growth rate of **16.1%**[46](index=46&type=chunk) - The market size of China's cross-border e-commerce logistics is expected to reach **RMB 5.7 trillion by 2029**, with a compound annual growth rate of **7.3%** from 2024 to 2029, but short-term growth may slow due to US tariffs[46](index=46&type=chunk) [Development Strategies](index=20&type=section&id=Development%20Strategies) The Group will deepen cooperation with leading cross-border e-commerce platforms, expand direct customer base, scale up service networks, accelerate overseas logistics network deployment to enhance cross-border delivery and localized fulfillment, and continuously increase technology investment, integrating AI to drive digital transformation - Continue to deepen strategic cooperation with major platforms, focusing on in-depth collaboration with leading cross-border e-commerce platforms, and further expanding to small and medium-sized direct customers[47](index=47&type=chunk) - Expand business scale and service capabilities, expanding or upgrading existing service outlets as needed to improve service capacity[47](index=47&type=chunk) - Accelerate overseas deployment, extending the overseas logistics network, enhancing cross-border delivery and overseas localized fulfillment support services, and promoting the construction of overseas logistics infrastructure[47](index=47&type=chunk) - Continuously increase technology investment, deeply integrating AI technology to enhance digitalization and build an intelligent, data-driven enterprise ecosystem[48](index=48&type=chunk) [Financial Review](index=21&type=section&id=Financial%20Review) The Group's financial performance in the first half of 2025 was significantly impacted by US tariff policies, leading to substantial declines in revenue and gross profit and a shift from profit to loss, exacerbated by increased impairment losses and finance costs, despite an improved gross margin; however, the Group maintains sufficient liquidity, a reduced gearing ratio, and has reallocated IPO proceeds to enhance overseas logistics and intelligent operations [Financial Overview](index=21&type=section&id=Financial%20Overview) In the first half of 2025, the Group's revenue decreased by 43.4% to RMB 800 million, primarily due to US tariff policy changes, leading to a corresponding reduction in cost of sales and a 29.7% decline in gross profit, though gross margin improved due to service mix shifts; the period saw a loss, driven by lower gross profit, increased impairment losses, and higher finance costs, while both trade receivables and payables decreased with reduced business volume - Revenue: For the six months ended June 30, 2025, revenue was approximately **RMB 800 million**, a decrease of approximately **43.4%** compared to the same period last year, mainly due to reduced freight volume to the United States caused by changes in US tariff policies[49](index=49&type=chunk) - Cost of sales: Cost of sales decreased by approximately **44.5%** to approximately **RMB 700 million**, consistent with the change in revenue[50](index=50&type=chunk) - Gross profit: Gross profit decreased by approximately **29.7%** to approximately **RMB 73.7 million**, but the gross profit margin increased from **7.3% to 9.1%**, mainly due to a decrease in the proportion of lower-margin freight forwarding services and an increase in the gross profit margin of other logistics services[51](index=51&type=chunk)[52](index=52&type=chunk) - Other income, gains and losses, net: Net loss improved from **RMB 9.2 million to RMB 5.2 million**, mainly due to reduced exchange losses and increased bank interest income[53](index=53&type=chunk) - Impairment loss on trade and other receivables: Impairment loss increased to approximately **RMB 14.4 million**, mainly due to a higher expected credit loss rate resulting from slower customer repayments[54](index=54&type=chunk) - Finance costs: Finance costs increased by **25.5%** to approximately **RMB 9.7 million**, primarily due to an increase in bank borrowings during the period[55](index=55&type=chunk) - Income tax expense: Shifted from an expense to an income tax credit of approximately **RMB 0.3 million**, mainly due to the loss position during the period and an increase in deferred tax credit[56](index=56&type=chunk) - Loss for the period: Recorded a loss of approximately **RMB 14.4 million**, a reversal from a profit in the prior year, mainly impacted by reduced gross profit, increased impairment losses, and higher finance costs[57](index=57&type=chunk) - Trade receivables: Decreased by **35.0%** to approximately **RMB 429.2 million**, mainly due to a decrease in average monthly revenue during the period[58](index=58&type=chunk) - Trade payables: Decreased by **29.0%** to approximately **RMB 59.1 million**, mainly due to a decrease in average monthly cost of sales during the period[59](index=59&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=24&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The Group primarily funds its operations through cash generated from operations and bank borrowings, expecting sufficient working capital, with net current assets of RMB 485 million, bank balances and cash of RMB 485 million, reduced bank borrowings of RMB 631 million, and RMB 104 million in unutilized bank facilities as of June 30, 2025 - The Group primarily funds its operations through cash generated from operations and bank borrowings, and is expected to have sufficient working capital[60](index=60&type=chunk) Liquidity and Financial Resources | Indicator | June 30, 2025 (RMB Million) | December 31, 2024 (RMB Million) | | :--- | :--- | :--- | | Net current assets | 484.6 | 535.3 | | Bank balances and cash | 485.4 | 448.6 | | Bank borrowings | 630.9 | 857.4 | | Unutilized bank facilities | 103.9 | Not applicable | [Gearing Ratio](index=24&type=section&id=Gearing%20Ratio) As of June 30, 2025, the Group's gearing ratio decreased to 93.0% from 120.0% on December 31, 2024, primarily due to a reduction in bank borrowings, partially offset by an increase in lease liabilities Gearing Ratio | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Gearing ratio | 93.0% | 120.0% | - The decrease in the gearing ratio was mainly due to a reduction in bank borrowings, partially offset by an increase in lease liabilities[62](index=62&type=chunk) [Foreign Exchange Risk](index=25&type=section&id=Foreign%20Exchange%20Risk) The Group faces foreign exchange risk from business transactions denominated in currencies other than RMB and IPO proceeds denominated in HKD, actively monitoring exchange rate fluctuations and implementing hedging measures when necessary, with no significant foreign exchange difficulties or liquidity issues encountered as of June 30, 2025 - The Group is exposed to foreign exchange risk to a certain extent from purchases and sales denominated in currencies other than RMB, including but not limited to USD and HKD[63](index=63&type=chunk) - The Group closely monitors the risk of exchange rate fluctuations and will take appropriate measures (such as hedging) to control exchange rate fluctuation risk when necessary[63](index=63&type=chunk) [Contingent Liabilities](index=25&type=section&id=Contingent%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[64](index=64&type=chunk) [Pledge of Assets](index=25&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group had pledged trade receivables, interests in buildings, and time deposits as collateral for secured bank borrowings, with the total value of pledged assets decreasing compared to December 31, 2024 Pledged Assets | Pledged Assets | June 30, 2025 (RMB Million) | December 31, 2024 (RMB Million) | | :--- | :--- | :--- | | Trade receivables | 258.8 | 494.17 | | Interests in buildings | 2.30 | 2.56 | | Time deposits | 185.00 | 245.00 | - The above assets were pledged as collateral for secured bank borrowings granted to the Group[65](index=65&type=chunk) [Use of Net Proceeds from Share Offer](index=25&type=section&id=Use%20of%20Net%20Proceeds%20from%20Share%20Offer) The net proceeds from the share offer amounted to RMB 58.79 million, lower than disclosed in the prospectus, with the Company reallocating RMB 39.81 million originally for China service network expansion to enhance overseas logistics capabilities, build a global intelligent operation command center, and supplement working capital to address market instability and seize opportunities - The net proceeds from the share offer were approximately **RMB 58.79 million**, which was lower than the **RMB 80.00 million** disclosed in the prospectus[66](index=66&type=chunk) - The Company plans to reallocate **RMB 39.81 million** originally designated for the expansion and upgrade of service outlets in China[67](index=67&type=chunk) - The reallocated uses include: **RMB 19.81 million** for enhancing overseas logistics capabilities; **RMB 16.00 million** for building a global intelligent operation command center; and **RMB 4.00 million** for working capital and general corporate purposes[67](index=67&type=chunk) Use of Net Proceeds from Share Offer | Intended Use | Original Estimated Amount (RMB Million) | Adjusted Available Amount (RMB Million) | Amount Utilized as at June 30, 2025 (RMB Million) | Amount Unutilized as at June 30, 2025 (RMB Million) | | :--- | :--- | :--- | :--- | :--- | | Achieving larger scale and expanding the Group's business scope (Original use) | 65.5 | 48.15 | 8.34 | — | | Enhancing overseas logistics capabilities (New use) | — | 19.81 | 0.51 | 19.30 | | Building a global intelligent operation command center (New use) | — | 16.00 | 16.00 | — | | Investing in and upgrading the Group's information technology systems | 14.4 | 10.58 | 6.51 | 4.07 | | Working capital and general corporate purposes | 0.1 | 4.06 | 4.06 | — | | **Total** | **80.0** | **58.79** | **35.42** | **23.37** | [Other Information](index=27&type=section&id=Other%20Information) This section covers the Group's human resources, remuneration policy, dividend policy, share award scheme, corporate governance practices, and other compliance information, noting a slight decrease in employees but an increase in total employee costs, no interim dividends declared, adoption of a share award scheme without current grants, separation of Chairman and CEO roles, and audit committee review of interim results [Human Resources and Remuneration Policy](index=27&type=section&id=Human%20Resources%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had 465 full-time employees, a slight decrease from the prior year, with total employee costs increasing to approximately RMB 44.3 million; the Group provides regular training and mentorship, with remuneration based on qualifications, experience, capabilities, and market levels, and contributes to mandatory social security funds for Chinese employees Human Resources | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Number of full-time employees | 465 | 477 | | Total employee costs (RMB Million) | 44.3 | 38.70 | - The Group provides regular internal and external training for employees, as well as induction training and mentorship programs for new hires[69](index=69&type=chunk) - The remuneration policy is determined based on employees' qualifications, experience, capabilities, and current market remuneration levels, and the Group contributes to mandatory social security funds for its employees in China[69](index=69&type=chunk) [Interim Dividend](index=27&type=section&id=Interim%20Dividend) The Board of Directors resolved not to recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board of Directors resolved not to recommend the payment of an interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[70](index=70&type=chunk) [Share Award Scheme](index=27&type=section&id=Share%20Award%20Scheme) The Company adopted a Share Award Scheme on April 9, 2025, to recognize and incentivize eligible participants, with a maximum of 78,000,000 award shares (approximately 10% of issued share capital), though no award shares had been granted as of June 30, 2025 - The Company adopted a Share Award Scheme on April 9, 2025, to recognize and incentivize eligible participants for their contributions to the Group's growth and development[71](index=71&type=chunk) - The maximum number of award shares shall not exceed **78,000,000 shares**, representing approximately **10%** of the Company's issued share capital as at the adoption date[71](index=71&type=chunk) - No award shares have been granted from the adoption date up to June 30, 2025[71](index=71&type=chunk) [Standard Code for Securities Transactions by Directors](index=28&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company adopted the Standard Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules, and all directors confirmed compliance for the six months ended June 30, 2025 - The Company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[72](index=72&type=chunk) - Each Director confirmed that they have complied with the Standard Code for the six months ended June 30, 2025[72](index=72&type=chunk) [Events After Reporting Period](index=28&type=section&id=Events%20After%20Reporting%20Period) Except as disclosed in this announcement, no significant post-reporting period events occurred from June 30, 2025, up to the date of this announcement - Save as disclosed in this announcement, there have been no significant events after the reporting period from June 30, 2025, up to the date of this announcement[73](index=73&type=chunk) [Corporate Governance](index=28&type=section&id=Corporate%20Governance) The Company is committed to maintaining high standards of corporate governance and has adopted the Corporate Governance Code in Appendix C1 of the Listing Rules, with the roles of Chairman and Chief Executive Officer, previously held by the same individual, now separated since March 1, 2025 - The Company has adopted the principles of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules as its own corporate governance code[74](index=74&type=chunk) - The roles of Chairman and Chief Executive Officer were previously held by Mr. Wang Quan, but since March 1, 2025, Mr. Wang Quan resigned as Chief Executive Officer and Mr. Wang Tiantian was appointed as Chief Executive Officer, thus separating the roles[74](index=74&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=28&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025 - Neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company’s listed securities during the six months ended June 30, 2025[75](index=75&type=chunk) [Arrangements to Purchase Shares or Debentures](index=29&type=section&id=Arrangements%20to%20Purchase%20Shares%20or%20Debentures) During the six months ended June 30, 2025, neither the Company, its holding company, nor any of its subsidiaries or fellow subsidiaries were party to any arrangements enabling directors or their spouses or children under 18 to acquire benefits by purchasing shares or debt securities of the Company or any other body corporate - At no time during the six months ended June 30, 2025, was the Company, its holding company, or any of its subsidiaries or fellow subsidiaries a party to any arrangements to enable the Directors or any of their spouses or children under 18 years of age to acquire benefits by means of the acquisition of shares in or debentures of the Company or any other body corporate[76](index=76&type=chunk) [Audit Committee](index=29&type=section&id=Audit%20Committee) The Company's Audit Committee reviewed the Group's unaudited interim results for the six months ended June 30, 2025, discussing accounting principles and practices with management, and confirmed that the results were prepared in compliance with applicable accounting standards and Listing Rules, with sufficient disclosure, and were reviewed by the Company's auditor in accordance with HKSRE 2410 - The Company’s Audit Committee has reviewed the unaudited interim results of the Group for the six months ended June 30, 2025, and discussed with the management the accounting principles and practices adopted[77](index=77&type=chunk) - The Audit Committee is of the opinion that the preparation of such results complied with the applicable accounting standards and requirements and the Listing Rules, and that adequate disclosures have been made[77](index=77&type=chunk) - The unaudited interim results of the Group for the six months ended June 30, 2025, have been reviewed by the Company’s auditor, Shinewing (HK) CPA Limited, in accordance with Hong Kong Standard on Review Engagements 2410[77](index=77&type=chunk) [Sufficiency of Public Float](index=29&type=section&id=Sufficiency%20of%20Public%20Float) Based on public information and directors' knowledge, the Company maintained a sufficient public float in accordance with the Listing Rules for the six months ended June 30, 2025 - For the six months ended June 30, 2025, the Company maintained a sufficient public float in accordance with the requirements of the Listing Rules[78](index=78&type=chunk) [Publication of Results Announcement and Interim Report](index=30&type=section&id=Publication%20of%20Results%20Announcement%20and%20Interim%20Report) This interim results announcement has been published on the HKEXnews website and the Company's website, and the Company's interim report for the six months ended June 30, 2025, will be dispatched to shareholders and published on the aforementioned websites in due course - This interim results announcement is published on the website of HKEXnews (www.hkexnews.hk) and the Company’s website (www.far800.com) respectively[79](index=79&type=chunk) - The interim report of the Company for the six months ended June 30, 2025, will be despatched to its shareholders and published on the aforesaid websites in due course[79](index=79&type=chunk) [By Order of the Board](index=30&type=section&id=By%20Order%20of%20the%20Board) This announcement is issued by Mr. Wang Quan, Chairman and Executive Director of Far800 International Holdings Group Limited, and lists the executive, non-executive, and independent non-executive directors as of the announcement date - This announcement is issued by Mr. Wang Quan, Chairman and Executive Director of Far800 International Holdings Group Limited[80](index=80&type=chunk) - As of the date of this announcement, the executive Directors are Mr. Wang Quan, Mr. Yang Zhilong, Mr. Zhang Guangyang and Mr. Zhu Jiong; the non-executive Directors are Mr. Wei Ran and Mr. Yao Shenjie; and the independent non-executive Directors are Mr. Ye Xingyue, Mr. Ren Tiangan and Ms. Wang Jiaofei[80](index=80&type=chunk)