Group 1 - The company reported a revenue of 518 million yuan for the first half of 2025, representing a year-on-year decline of 15.3% [1] - The profit attributable to equity shareholders was 7.066 million yuan, a significant improvement from a loss of 55.818 million yuan in the same period last year [1] - The basic earnings per share were 0.01 yuan [1]

[Company Overview and Financial Highlights](index=1&type=section&id=%E5%85%AC%E5%8F%B8%E6%A6%82%E8%A7%88%E4%B8%8E%E8%B4%A2%E5%8A%A1%E4%BA%AE%E7%82%B9) [Company Information and Report Scope](index=1&type=section&id=%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF%E4%B8%8E%E6%8A%A5%E5%91%8A%E8%8C%83%E5%9B%B4) HealthyWay Inc. announced its unaudited interim results for the six months ended June 30, 2025 - Company Name: **HealthyWay Inc.** `[2](index=2&type=chunk)` - Reporting Period: Six months ended **June 30, 2025** `[2](index=2&type=chunk)[3](index=3&type=chunk)` - Report Nature: Unaudited consolidated financial results announcement `[3](index=3&type=chunk)` [Financial Highlights at a Glance](index=1&type=section&id=%E8%B4%A2%E5%8A%A1%E4%BA%AE%E7%82%B9%E9%80%9F%E8%A7%88) The company's revenue decreased year-on-year, but gross profit margin improved, successfully turning losses into profits with significantly improved profit for the period Financial Highlights Comparison (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change | Change Rate | Remarks | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 517,852 | 611,485 | (93,633) | -15.3% | Revenue decreased | | Gross Profit | 161,734 | 183,661 | (21,927) | -11.9% | Gross profit decreased | | Gross Profit Margin | 31.2% | 30.0% | +1.2% | - | Gross profit margin improved | | Profit/(Loss) for the Period | 7,040 | (57,275) | +64,315 | Turned losses into profits | Significant improvement | [Consolidated Financial Statements](index=2&type=section&id=%E7%BB%BC%E5%90%88%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Statement of Profit or Loss](index=2&type=section&id=%E7%BB%BC%E5%90%88%E6%8D%9F%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company achieved a net profit of RMB 7,040 thousand, a significant turnaround from a net loss of RMB 57,275 thousand in the prior year, driven by increased operating profit and the elimination of changes in the carrying amount of redeemable liabilities Key Data from Consolidated Statement of Profit or Loss (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 517,852 | 611,485 | (93,633) | -15.3% | | Cost of Sales | (356,118) | (427,824) | 71,706 | -16.8% | | Gross Profit | 161,734 | 183,661 | (21,927) | -11.9% | | Operating Profit | 12,004 | 2,475 | 9,529 | +385.8% | | Profit/(Loss) Before Tax | 10,498 | (63,150) | 73,648 | Turned losses into profits | | Profit/(Loss) for the Period | 7,040 | (57,275) | 64,315 | Turned losses into profits | - Change in carrying amount of redeemable liabilities: **RMB 0 thousand in 2025** compared to **RMB (62,989) thousand in 2024**, significantly contributing to the current period's profit improvement `[4](index=4&type=chunk)` [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=%E7%BB%BC%E5%90%88%E6%8D%9F%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) The company's total comprehensive income for the period turned from a loss of RMB 56,805 thousand in the prior year to a profit of RMB 8,378 thousand, mainly due to improved profit for the period and positive exchange differences from translating financial statements of overseas entities Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Profit/(Loss) for the Period | 7,040 | (57,275) | | Exchange differences on translation of financial statements of overseas entities | 1,338 | 470 | | Total Comprehensive Income for the Period | 8,378 | (56,805) | - Total comprehensive income attributable to equity holders of the Company was **RMB 8,404 thousand**, compared to a loss of **RMB 55,348 thousand** in the prior period `[6](index=6&type=chunk)` [Consolidated Statement of Financial Position](index=4&type=section&id=%E7%BB%BC%E5%90%88%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5%E8%A1%A8) As of June 30, 2025, the company's total assets slightly decreased, but net assets increased, primarily due to an increase in intangible assets and a reduction in liabilities Key Data from Consolidated Statement of Financial Position | Metric | 2025年6月30日 (RMB '000) | 2024年12月31日 (RMB '000) | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Non-current Assets | 130,145 | 113,845 | 16,300 | +14.3% | | Current Assets | 414,076 | 454,781 | (40,705) | -9.0% | | Current Liabilities | 310,568 | 340,409 | (29,841) | -8.8% | | Net Current Assets | 103,508 | 114,372 | (10,864) | -9.5% | | Non-current Liabilities | 3,487 | 4,629 | (1,142) | -24.7% | | Net Assets | 240,166 | 231,788 | 8,378 | +3.6% | | Total Equity | 240,166 | 231,788 | 8,378 | +3.6% | - Intangible assets significantly increased from **RMB 81,272 thousand** as of December 31, 2024, to **RMB 99,020 thousand** as of June 30, 2025, mainly due to the recognition of R&D outcomes as intangible assets during the reporting period `[9](index=9&type=chunk)[55](index=55&type=chunk)` [Notes to the Financial Information](index=6&type=section&id=%E8%B4%A2%E5%8A%A1%E8%B5%84%E6%96%99%E9%99%84%E6%B3%A8) [Basis of Preparation](index=6&type=section&id=%E7%BC%96%E8%A3%BD%E5%9F%BA%E7%A4%8E) The interim financial report is prepared in accordance with the HKEX Listing Rules and IAS 34, adopting the same accounting policies as the 2024 annual financial statements, and was authorized for issue on August 29, 2025 - Basis of Preparation: **HKEX Listing Rules** and **International Accounting Standard 34** `[12](index=12&type=chunk)` - Accounting Policies: Same as those adopted in the **2024 annual financial statements**, except for changes expected to be reflected in the 2025 annual financial statements `[12](index=12&type=chunk)` - Authorization Date for Issue: **August 29, 2025** `[12](index=12&type=chunk)` [Changes in Accounting Policies](index=6&type=section&id=%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E7%9A%84%E5%8F%98%E5%8A%A8) The Group has applied the amendments to IAS 21 "The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability," but these amendments had no significant impact on this interim report as no foreign currency non-exchangeable transactions were involved, and no other new standards not yet effective have been applied - Amendments to **IAS 21 "The Effects of Changes in Foreign Exchange Rates – Lack of Exchangeability"** have been applied `[14](index=14&type=chunk)` - These amendments had **no significant impact** on this interim report as the Group had no foreign currency non-exchangeable transactions `[14](index=14&type=chunk)` - No new standards or interpretations not yet effective have been applied in the current accounting period `[15](index=15&type=chunk)` [Revenue and Segment Reporting](index=6&type=section&id=%E6%94%B6%E5%85%A5%E5%8F%8A%E5%88%86%E9%83%A8%E6%8A%A5%E5%91%8A) The Group primarily generates revenue through enterprise services and digital marketing, healthcare services, and other business lines, managing and assessing performance by these segments, with the vast majority of operations concentrated in mainland China - Main Businesses: Provision of **enterprise services and digital marketing services**, and **healthcare services** `[16](index=16&type=chunk)` - Segment Management: Divided into three independent segments by service line: **enterprise services and digital marketing services**, **healthcare services**, and **other** `[19](index=19&type=chunk)[20](index=20&type=chunk)` - Geographic Concentration: The vast majority of assets, liabilities, revenue, and gross profit are attributable to **mainland China operations** `[19](index=19&type=chunk)[21](index=21&type=chunk)` [Revenue Details](index=7&type=section&id=%E6%94%B6%E5%85%A5%E6%98%8E%E7%BB%86) For the six months ended June 30, 2025, total revenue was RMB 517,852 thousand, with enterprise services and digital marketing contributing the most, but overall revenue decreased year-on-year Revenue from Contracts with Customers by Major Service Line | Service Line | 2025 (RMB '000) | 2024 (RMB '000) | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Enterprise Services and Digital Marketing Services | 413,059 | 488,539 | (75,480) | -15.45% | | Healthcare Services | 104,638 | 122,829 | (18,191) | -14.81% | | Other | 155 | 117 | 38 | +32.48% | | **Total** | **517,852** | **611,485** | **(93,633)** | **-15.31%** | - Revenue Recognition Timing: Most revenue is recognized **at a point in time** (2025: **RMB 462,536 thousand**), with a smaller proportion recognized **over time** (2025: **RMB 55,316 thousand**) `[18](index=18&type=chunk)` [Segment Reporting Analysis](index=7&type=section&id=%E5%88%86%E9%83%A8%E6%8A%A5%E5%91%8A%E5%88%86%E6%9E%90) Enterprise services and digital marketing remain the Group's primary contributors to revenue and gross profit, but both major segments experienced year-on-year declines in revenue and gross profit, consistent with the overall revenue trend Gross Profit by Reportable Segment (Six Months Ended June 30) | Segment | 2025 (RMB '000) | 2024 (RMB '000) | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Enterprise Services and Digital Marketing Services | 133,049 | 148,164 | (15,115) | -10.20% | | Healthcare Services | 28,559 | 35,401 | (6,842) | -19.33% | | Other | 126 | 96 | 30 | +31.25% | | **Total Reportable Segment Gross Profit** | **161,734** | **183,661** | **(21,927)** | **-11.94%** | - The Group's senior management monitors performance based on each segment's revenue and gross profit to assess segment performance and allocate resources `[19](index=19&type=chunk)` [Income Tax](index=9&type=section&id=%E6%89%80%E5%BE%97%E7%A8%8E) During the reporting period, the company's income tax expense was RMB 3,458 thousand, compared to an income tax credit of RMB 5,875 thousand in the prior year, mainly due to the turnaround to pre-tax profit and the reversal of deferred tax assets; some subsidiaries enjoy R&D cost super deduction and small-profit enterprise tax rate benefits Income Tax Components (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Current Tax - Provision for the period | 5,955 | 1,243 | | Deferred Tax - Origination and reversal of temporary differences | (2,497) | (7,118) | | **Total Income Tax** | **3,458** | **(5,875)** | - The statutory corporate income tax rate for mainland China subsidiaries is **25%** `[24](index=24&type=chunk)` - Fujian HealthyWay Information Technology Co., Ltd., as a high-tech enterprise, enjoys a lower income tax rate of **15%** (2023-2025) `[24](index=24&type=chunk)` - Eligible R&D costs can enjoy an additional **100% super deduction** `[23](index=23&type=chunk)` - Some subsidiaries, as "small-profit enterprises," enjoy a lower corporate income tax rate of **20%** `[23](index=23&type=chunk)` [Earnings/(Loss) Per Share](index=10&type=section&id=%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9%E2%88%95%EF%BC%88%E4%BA%8F%E6%8D%9F%EF%BC%89) For the six months ended June 30, 2025, the company achieved basic and diluted earnings per share of RMB 0.01, a significant improvement from a loss per share of RMB 0.08 in the prior year Earnings/(Loss) Per Share (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Basic Earnings/(Loss) Per Share (RMB) | 0.01 | (0.08) | | Diluted Earnings/(Loss) Per Share (RMB) | 0.01 | (0.08) | - Basic earnings per share is calculated based on profit attributable to ordinary equity holders of the Company of **RMB 7,066 thousand** (2024: loss of **RMB 55,818 thousand**) and weighted average ordinary shares outstanding of **877,705 thousand** (2024: **714,598 thousand**) `[25](index=25&type=chunk)` - There were no potential dilutive ordinary shares in the current period, so diluted earnings per share is the same as basic earnings per share `[26](index=26&type=chunk)` [Trade and Other Receivables](index=10&type=section&id=%E8%B4%B8%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E6%94%B6%E6%AC%BE%E9%A1%B9) As of June 30, 2025, total trade and other receivables increased to RMB 158,102 thousand, primarily due to extended payment terms for some customers Ageing Analysis of Trade and Other Receivables | Ageing | 2025年6月30日 (RMB '000) | 2024年12月31日 (RMB '000) | | :--- | :--- | :--- | | Within 1 month | 85,642 | 105,781 | | More than 1 month but within 1 year | 38,691 | 11,482 | | More than 1 year but within 2 years | 804 | 2,261 | | More than 2 years but within 3 years | 420 | 247 | | **Subtotal Trade Receivables** | **125,557** | **119,771** | | Amounts due from related parties | 1,052 | 1,000 | | Deposits | 3,457 | 3,997 | | Other receivables | 28,036 | 19,440 | | **Total** | **158,102** | **144,208** | - Trade receivables overdue by more than 1 month but within 1 year significantly increased, reflecting extended payment terms `[27](index=27&type=chunk)[49](index=49&type=chunk)` [Trade and Other Payables](index=11&type=section&id=%E8%B4%B8%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E4%BB%98%E6%AC%BE%E9%A1%B9) As of June 30, 2025, total trade and other payables decreased to RMB 177,508 thousand, largely consistent with the downward trend in cost of sales Ageing Analysis of Trade and Other Payables | Ageing | 2025年6月30日 (RMB '000) | 2024年12月31日 (RMB '000) | | :--- | :--- | :--- | | Within 1 year | 112,920 | 121,545 | | More than 1 year but within 2 years | 315 | 109 | | More than 2 years but within 3 years | 64 | 103 | | More than 3 years | 159 | 144 | | **Subtotal Trade Payables** | **113,458** | **121,901** | | Amounts due to shareholders | 4,659 | 4,714 | | Accrued salaries and bonuses | 20,045 | 25,006 | | Advances from customers | 13,424 | 15,751 | | Other payables | 25,922 | 41,190 | | **Total** | **177,508** | **208,562** | - Amounts due to shareholders as of June 30, 2025, have been fully settled as of the announcement date `[51](index=51&type=chunk)` [Capital, Reserves and Dividends](index=11&type=section&id=%E8%B5%84%E6%9C%AC%E3%80%81%E5%82%A8%E5%A4%87%E5%8F%8A%E8%82%A1%E6%81%AF) As of June 30, 2025, the company's share capital remained stable, reserves increased, and the Board of Directors did not recommend an interim dividend Capital and Reserves (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Share Capital | 96 | 96 | | Reserves | 235,073 | 226,669 | | Total equity attributable to equity holders of the Company | 235,169 | 226,765 | | Non-controlling interests | 4,997 | 5,023 | | **Total Equity** | **240,166** | **231,788** | - The Board of Directors does not recommend an interim dividend for the six months ended **June 30, 2025** (2024: nil) `[29](index=29&type=chunk)[67](index=67&type=chunk)` [Management Discussion and Analysis](index=12&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E5%8F%8A%E5%88%86%E6%9E%90) [Business Review](index=12&type=section&id=%E4%B8%9A%E5%8A%A1%E5%9B%9E%E9%A1%B5) The company, as a digital healthcare service platform, maintained market share and expanded its customer base during the reporting period, but some businesses, such as digital marketing and medical support services, faced challenges - The company has been providing **healthcare services to individual users since 2001**, expanding to enterprise and institutional services in 2015 `[30](index=30&type=chunk)` - The number of registered individual users, registered doctors, and connected hospitals on the platform continues to grow `[30](index=30&type=chunk)` [Overview and Platform User Growth](index=12&type=section&id=%E6%A6%82%E8%A7%88%E4%B8%8E%E5%B9%B3%E5%8F%B0%E7%94%A8%E6%88%B7%E5%A2%9E%E9%95%BF) As of June 30, 2025, the company's platform had 211.8 million registered individual users, 905 thousand registered doctors, and 12,161 connected hospitals, all showing steady growth Platform User Growth | Metric | 2025年6月30日 | 2024年12月31日 | Increase | Growth Rate | | :--- | :--- | :--- | :--- | :--- | | Registered Individual Users | 211.8 million | 205.5 million | 6.3 million | +3.07% | | Registered Doctors | 905 thousand | 889 thousand | 16 thousand | +1.80% | | Connected Hospitals | 12,161 | 11,762 | 399 | +3.39% | [Enterprise Services and Digital Marketing Services Performance](index=12&type=section&id=%E4%BC%81%E4%B8%9A%E6%9C%8D%E5%8A%A1%E5%8F%8A%E6%95%B0%E5%AD%97%E8%90%A5%E9%94%80%E6%9C%8D%E5%8A%A1%E8%A1%A8%E7%8E%B0) Page views for popular science content services decreased, but the number of enterprise customers for precise content services and RWS support services increased, while digital marketing services saw a reduction in paying enterprise customers due to economic downturn - Page views for popular science content services decreased from **400 million** in H1 2024 to **250 million** in H1 2025 `[31](index=31&type=chunk)` - Precise content service customers: Increased from **9 pharmaceutical companies** in H1 2024 to **16 pharmaceutical companies and 6 other entities** in H1 2025 `[31](index=31&type=chunk)` - RWS support service customers: Increased from **30 pharmaceutical companies and 9 other entities** in H1 2024 to **48 pharmaceutical companies and 6 other entities** in H1 2025 `[31](index=31&type=chunk)` - Real-world study reports delivered decreased from **312** in H1 2024 to **212** in H1 2025 `[31](index=31&type=chunk)` - Number of paying enterprise and institutional customers decreased from **570** as of December 31, 2024, to **353** as of June 30, 2025, mainly due to the economic downturn `[31](index=31&type=chunk)` [Healthcare Services Performance](index=12&type=section&id=%E5%81%A5%E5%BA%B7%E5%8C%BB%E7%96%97%E6%9C%8D%E5%8A%A1%E8%A1%A8%E7%8E%B0) Both individual and enterprise customers for health membership programs decreased, and online medical consultations also declined, indicating challenges in this business segment - Individual customers for health membership programs decreased from **6.5 million** in H1 2024 to **5.9 million** in H1 2025 `[32](index=32&type=chunk)` - Enterprise customers for health membership programs decreased from **164** in H1 2024 to **133** in H1 2025 `[32](index=32&type=chunk)` - Online medical consultations decreased from **1.8 million** in H1 2024 to **1.4 million** in H1 2025 `[32](index=32&type=chunk)` [Financial Review](index=13&type=section&id=%E8%B4%A2%E5%8A%A1%E5%9B%9E%E9%A1%B5) During the reporting period, the company's total revenue decreased by 15.3% year-on-year, but through cost control and expense optimization, it successfully turned losses into profits, achieving a net profit of RMB 7.0 million - Total revenue decreased by **15.3%** to **RMB 517.9 million** `[35](index=35&type=chunk)` - Net profit turned from a loss of **RMB 57.3 million** in the prior year to a profit of **RMB 7.0 million** in the current period `[46](index=46&type=chunk)` [Revenue Analysis](index=13&type=section&id=%E6%94%B6%E5%85%A5%E5%88%86%E6%9E%90) Total revenue decreased by 15.3% year-on-year to RMB 517.9 million, mainly due to reduced revenue from content services, value-based healthcare services (especially pharmaceutical sales and integrated healthcare service packages), and digital marketing services Revenue Breakdown by Service (Six Months Ended June 30) | Service Category | 2025 (RMB '000) | % Share | 2024 (RMB '000) | % Share | Change Rate | | :--- | :--- | :--- | :--- | :--- | :--- | | **Healthcare Services** | **104,638** | **20.2** | **122,829** | **20.1** | **-14.8%** | | Medical Support Services - Health Membership Programs | 70,236 | 13.6 | 54,256 | 8.9 | +29.5% | | Medical Support Services - Other | 4,845 | 0.9 | 2,949 | 0.5 | +64.3% | | Value-based Healthcare Services - Integrated Healthcare Service Packages | 119 | 0.0 | 12,262 | 2.0 | -99.0% | | Value-based Healthcare Services - Pharmaceutical Sales Business | 29,438 | 5.7 | 53,362 | 8.7 | -44.9% | | **Enterprise Services and Digital Marketing Services** | **413,059** | **79.8** | **488,539** | **79.9** | **-15.5%** | | Enterprise Services - Content Services | 250,665 | 48.4 | 308,600 | 50.5 | -18.7% | | Enterprise Services - Information Technology Services | 122,647 | 23.7 | 129,319 | 21.1 | -5.2% | | Digital Marketing Services | 39,747 | 7.7 | 50,620 | 8.3 | -21.4% | | Other | 155 | 0.0 | 117 | 0.0 | +32.5% | | **Total** | **517,852** | **100.0** | **611,485** | **100.0** | **-15.3%** | - Content service revenue declined primarily due to some customers shifting to direct marketing, reducing reliance on RWS support services, and increased competition in the generic drug industry leading to customer budget cuts for RWS services `[35](index=35&type=chunk)` - Value-based healthcare service revenue decreased mainly due to the expiration of pharmaceutical wholesale business sales agency agreements and the company's proactive adjustment of service structure `[35](index=35&type=chunk)` - Digital marketing service revenue decreased primarily due to the economic downturn, leading customers to reduce advertising and marketing expenditures `[35](index=35&type=chunk)` [Cost of Sales](index=14&type=section&id=%E9%94%80%E5%94%AE%E6%88%90%E6%9C%AC) Total cost of sales decreased by 16.8% year-on-year to RMB 356.1 million, consistent with the revenue decline, mainly reflected in reduced cost of sales for enterprise services and digital marketing, and healthcare services Cost of Sales (Six Months Ended June 30) | Segment | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Enterprise Services and Digital Marketing Services | (280,010) | (340,375) | -17.7% | | Healthcare Services | (76,079) | (87,428) | -13.0% | | Other | (29) | (21) | +38.1% | | **Total Cost of Sales** | **(356,118)** | **(427,824)** | **-16.8%** | [Gross Profit and Gross Profit Margin](index=14&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit decreased year-on-year to RMB 161.7 million, but gross profit margin improved to 31.2%, influenced by business mix, pricing policies, and optimized cost structure Gross Profit and Gross Profit Margin (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Gross Profit | 161,734 | 183,661 | -11.9% | | Gross Profit Margin | 31.2% | 30.0% | +1.2% | | Healthcare Services Gross Profit | 28,559 | 35,401 | -19.3% | | Enterprise and Digital Marketing Services Gross Profit | 133,049 | 148,164 | -10.2% | - The improvement in gross profit margin was mainly influenced by **business mix, pricing policies, and cost structure** `[37](index=37&type=chunk)` [Net Other Income](index=15&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%87%80%E9%A2%9D) Net other income increased from RMB 0.5 million in the prior year to RMB 1.2 million in the current period, primarily due to increased interest income and government subsidies, partially offset by exchange losses Net Other Income (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Net Other Income | 1,161 | 455 | +155.2% | - The increase was primarily driven by **higher interest income and government subsidies** `[38](index=38&type=chunk)` [Selling Expenses](index=15&type=section&id=%E9%94%80%E5%94%AE%E5%BC%80%E6%94%AF) Selling expenses decreased by 11.6% year-on-year to RMB 87.2 million, mainly due to reduced marketing activities for integrated healthcare service packages and health membership programs Selling Expenses (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Selling Expenses | (87,249) | (98,576) | -11.6% | - The decrease in expenses primarily resulted from **reduced promotional activities** for integrated healthcare service packages and health membership programs `[39](index=39&type=chunk)` [Administrative Expenses](index=15&type=section&id=%E8%A1%8C%E6%94%BF%E5%BC%80%E6%94%AF) Administrative expenses decreased by 9.6% year-on-year to RMB 26.3 million, mainly due to reduced office expenses and third-party service fees, partially offset by increased staff costs Administrative Expenses (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Administrative Expenses | (26,256) | (29,097) | -9.6% | - The decrease in expenses was mainly attributable to **savings in office expenses and third-party service fees** `[40](index=40&type=chunk)` [Research and Development Costs](index=15&type=section&id=%E7%A0%94%E7%99%BC%E6%88%90%E6%9C%AC) R&D costs significantly decreased by 30.7% year-on-year to RMB 37.4 million, primarily due to the completion of several products, such as the AI disease prediction platform, in H2 2024, leading to lower technical service fees Research and Development Costs (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Research and Development Costs | (37,386) | (53,968) | -30.7% | - The main reason was the **completion of products** such as the AI disease prediction platform, resulting in a corresponding decrease in technical service fees `[41](index=41&type=chunk)` [Finance Costs](index=15&type=section&id=%E8%9E%8D%E8%B3%87%E6%88%90%E6%9C%AC) Finance costs decreased by 39.1% year-on-year to RMB 1.4 million, primarily due to the company's repayment of some bank loans and borrowings in H1 2025 Finance Costs (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Finance Costs | (1,358) | (2,321) | -39.1% | - The decrease in finance costs was mainly attributable to the **repayment of some bank loans and borrowings** `[42](index=42&type=chunk)` [Change in Carrying Amount of Redeemable Liabilities](index=16&type=section&id=%E8%B5%8E%E5%9B%9E%E8%B4%9F%E5%80%BA%E7%9A%84%E8%B4%A6%E9%9D%A2%E5%80%BC%E5%8F%98%E5%8A%A8) The company recorded no change in the carrying amount of redeemable liabilities in the current reporting period, compared to a loss of RMB 63.0 million in the prior year, mainly due to the termination of preferential rights upon the company's listing and reclassification to equity Change in Carrying Amount of Redeemable Liabilities (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Change in carrying amount of redeemable liabilities | – | (62,989) | - This change terminated upon the company's listing, and the related liabilities were reclassified to equity `[43](index=43&type=chunk)` [Profit Before Tax](index=16&type=section&id=%E9%99%A4%E7%A8%8E%E5%89%8D%E5%88%A9%E6%BD%A4) The company turned from a pre-tax loss of RMB 63.2 million in the prior year to a pre-tax profit of RMB 10.5 million in the current period, achieving significant improvement Profit/(Loss) Before Tax (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Profit/(Loss) Before Tax | 10,498 | (63,150) | [Income Tax](index=16&type=section&id=%E6%89%80%E5%BE%97%E7%A8%8E) Current period income tax expense was RMB 3.5 million, compared to an income tax credit of RMB 5.9 million in the prior year, mainly due to the turnaround to pre-tax profit and reversal of deferred income tax assets Income Tax (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Income Tax | (3,458) | 5,875 | - The change in income tax was mainly affected by the **turnaround from pre-tax loss to profit** and the **reversal of certain deferred income tax assets** `[45](index=45&type=chunk)` [Net Profit](index=16&type=section&id=%E5%87%80%E5%88%A9%E6%BD%A4) The company turned from a net loss of RMB 57.3 million in the prior year to a net profit of RMB 7.0 million in the current period, achieving a turnaround Net Profit/(Loss) (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Net Profit/(Loss) | 7,040 | (57,275) | [Discussion of Selected Items in the Consolidated Statement of Financial Position](index=16&type=section&id=%E7%BB%BC%E5%90%88%E8%B5%84%E7%94%A2%E8%B2%A0%E5%80%BAz%E8%A1%A8%E4%B8%AD%E9%81%B8%E5%AE%9A%E9%A0%85%E7%9B%AE%E7%9A%84%E8%A8%8E%E8%AB%96) As of June 30, 2025, the company's net current assets decreased, but overall net assets increased, primarily due to an increase in intangible assets and effective liability management - Net assets increased from **RMB 231.8 million** as of December 31, 2024, to **RMB 240.2 million** as of June 30, 2025 `[55](index=55&type=chunk)` [Overview of Current Assets and Liabilities](index=16&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E7%94%A2%E5%8F%8A%E8%B2%A0%E5%80%BAz%E6%A6%82%E8%A7%88) Net current assets decreased by 9.5% from RMB 114.4 million as of December 31, 2024, to RMB 103.5 million as of June 30, 2025, mainly due to decreases in cash and cash equivalents, prepayments, and other financial assets Net Current Assets (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Net Current Assets | 103,508 | 114,372 | -9.5% | - The decrease was mainly due to **decreases in cash and cash equivalents, prepayments, and other financial assets**, partially offset by a decrease in trade and other payables `[47](index=47&type=chunk)` [Inventories](index=17&type=section&id=%E5%AD%98%E8%B2%A8) Inventories increased from RMB 7.1 million as of December 31, 2024, to RMB 9.4 million as of June 30, 2025, primarily because some revenue from content services had not yet been recognized, and related contract fulfillment costs were capitalized as inventories Inventories (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Inventories | 9,390 | 7,096 | +32.3% | - Inventories primarily include **pharmaceuticals and health products** `[48](index=48&type=chunk)` [Trade and Other Receivables](index=17&type=section&id=%E8%B4%B8%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E6%94%B6%E6%AC%BE%E9%A0%85) Trade and other receivables increased from RMB 144.2 million as of December 31, 2024, to RMB 158.1 million as of June 30, 2025, mainly due to extended payment terms for some customers Trade and Other Receivables (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Trade and Other Receivables | 158,102 | 144,208 | +9.6% | [Prepayments](index=17&type=section&id=%E9%A0%90%E4%BB%98%E6%AC%BE%E9%A0%85) Prepayments decreased from RMB 27.5 million as of December 31, 2024, to RMB 15.0 million as of June 30, 2025, mainly due to reduced prepayments to suppliers after strategic negotiations on payment terms Prepayments (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Prepayments | 14,959 | 27,450 | -45.5% | [Trade and Other Payables](index=17&type=section&id=%E8%B4%B8%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E4%BB%98%E6%AC%BE%E9%A0%85) Trade and other payables decreased from RMB 208.6 million as of December 31, 2024, to RMB 177.5 million as of June 30, 2025, broadly consistent with the decline in cost of sales Trade and Other Payables (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Trade and Other Payables | 177,508 | 208,562 | -15.0% | - Mainly includes **trade payables, accrued salaries and bonuses, advances from customers, amounts due to shareholders, and other payables** `[51](index=51&type=chunk)` [Contract Liabilities](index=17&type=section&id=%E5%90%88%E7%B4%84%E8%B2%A0%E5%80%BAz) Contract liabilities remained relatively stable at RMB 56.0 million as of June 30, 2025 Contract Liabilities (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Contract Liabilities | 56,002 | 58,015 | -3.5% | [Loans and Borrowings](index=17&type=section&id=%E8%B2%B8%E6%AC%BE%E5%8F%8A%E5%80%9F%E6%AC%BE) Current loans and borrowings decreased from RMB 55.5 million as of December 31, 2024, to RMB 54.4 million as of June 30, 2025, mainly due to the repayment of some outstanding loans and borrowings Loans and Borrowings (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Current Loans and Borrowings | 54,416 | 55,502 | -2.0% | | Non-current Loans and Borrowings | 301 | 905 | -66.7% | [Contingent Liabilities](index=17&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%80%BAz) As of June 30, 2025, and December 31, 2024, the company had no significant contingent liabilities - No significant contingent liabilities at the end of the reporting period `[54](index=54&type=chunk)` [Non-Current Assets/Liabilities](index=18&type=section&id=%E9%9D%9E%E6%B5%81%E5%8B%95%E8%B3%87%E7%94%A2%E2%88%95%E8%B2%A0%E5%80%BAz) The company's total net assets increased to RMB 240.2 million, with intangible assets significantly increasing to RMB 99.0 million, primarily due to the recognition of R&D outcomes as intangible assets during the reporting period Non-Current Assets/Liabilities (As of June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Property, Plant and Equipment | 6,663 | 8,660 | -23.0% | | Intangible Assets | 99,020 | 81,272 | +21.8% | | Goodwill | 8,605 | 8,605 | 0.0% | | Deferred Tax Assets | 22,797 | 20,300 | +12.3% | | Non-current Liabilities | 3,487 | 4,629 | -24.7% | - The increase in intangible assets was mainly due to the **recognition of R&D outcomes** during the reporting period `[55](index=55&type=chunk)` [Liquidity and Financial Resources](index=18&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) As of June 30, 2025, the company's cash and cash equivalents were RMB 231.4 million; net cash from operating activities significantly increased, net cash outflow from investing activities was mainly for capitalizing R&D outcomes, and net cash outflow from financing activities was primarily for repaying bank loans and paying listing fees Cash Flow Overview (Six Months Ended June 30) | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Net cash from operating activities | 34,670 | 13,030 | | Net cash (used in)/from investing activities | (52,344) | (18,578) | | Net cash (used in)/from financing activities | (11,130) | (13,409) | | Net increase/(decrease) in cash and cash equivalents | (28,804) | (18,957) | | Cash and cash equivalents at January 1 | 260,229 | 168,693 | | Cash and cash equivalents at June 30 | 231,425 | 149,736 | - Net cash outflow from investing activities was mainly due to expenses of **RMB 50.7 million** related to capitalizing R&D outcomes as intangible assets `[57](index=57&type=chunk)` - Net cash outflow from financing activities was primarily due to **repayment of bank loans of RMB 24.9 million** and **payment of listing fees of RMB 6.4 million** `[57](index=57&type=chunk)` - Total bank loans and borrowings amounted to **RMB 54.7 million**, with annual interest rates ranging from **3.35% to 14.65%** `[58](index=58&type=chunk)` [Other Information](index=19&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) [Outlook](index=19&type=section&id=%E5%B1%95%E6%9C%9B) The company remains cautiously optimistic about its business prospects, planning to improve financial performance and profitability by monetizing pharmaceutical sales, content services, and IT services, and strengthening cooperation with doctors to expand the RWS support services market - Expected to improve financial performance and profitability by **monetizing pharmaceutical sales business, content services, and information technology services** `[59](index=59&type=chunk)` - Plans to deepen connections with more doctors and integrate medical services into the platform to **enhance business segment synergies** and **strengthen the advantages of the pharmaceutical sales business** `[59](index=59&type=chunk)` - Aims to obtain broader real-world clinical data through expanded cooperation with doctors, providing more valuable insights for pharmaceutical companies and assisting drug research `[59](index=59&type=chunk)` - Despite market challenges, the company maintains a **cautiously optimistic attitude** towards its business prospects `[60](index=60&type=chunk)` [Material Post-Reporting Period Events](index=19&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%90%8E%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) As of the announcement date, the company had no material post-reporting period events - No material post-reporting period events as of the announcement date `[61](index=61&type=chunk)` [Compliance with Corporate Governance Code](index=19&type=section&id=%E9%81%B5%E5%AE%88%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%88%99) The company is committed to practicing good corporate governance standards and has complied with all applicable provisions of the Corporate Governance Code during the reporting period, with a deviation where the roles of Chairman and Chief Executive Officer are held by the same person - The company has adopted and applied the **Corporate Governance Code** set out in Appendix C1 of the Listing Rules `[63](index=63&type=chunk)` - During the reporting period, the company complied with all applicable code provisions of the Corporate Governance Code, except for the roles of Chairman and Chief Executive Officer being held by the same person `[63](index=63&type=chunk)` [Corporate Governance Code Compliance](index=19&type=section&id=%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%88%99%E5%90%88%E8%A7%84%E6%80%A7) The company has adopted and complied with the Corporate Governance Code, aiming to protect shareholders' interests, enhance corporate value and transparency, but there is a deviation where the roles of Chairman and Chief Executive Officer are held by the same person - The company is committed to ensuring good corporate governance standards are practiced to **protect shareholders' interests, enhance corporate value, formulate business strategies, and improve transparency and accountability** `[62](index=62&type=chunk)` [Roles of Chairman and Chief Executive Officer](index=20&type=section&id=%E4%B8%BB%E5%B8%AD%E5%8F%8A%E8%A1%8C%E6%94%BF%E6%80%BB%E8%A3%81%E8%A7%92%E8%89%B2) Mr. Zhang Wanneng currently serves as both Chairman of the Board and Chief Executive Officer, a deviation from Code Provision C.2.1 of the Corporate Governance Code; the Board believes this arrangement benefits Group management and will continue to review it - Mr. Zhang Wanneng currently holds both the roles of **Chairman of the Board and Chief Executive Officer**, which deviates from Code Provision C.2.1 of the Corporate Governance Code `[64](index=64&type=chunk)` - The Board believes this arrangement is beneficial for Group management, given Mr. Zhang's role as founder and extensive experience, and that senior management and the Board can effectively monitor and balance his powers `[64](index=64&type=chunk)[65](index=65&type=chunk)` - The Board is committed to continuously reviewing and considering the separation of the roles of Chairman and Chief Executive Officer when appropriate and suitable `[65](index=65&type=chunk)` [Interim Results Review](index=21&type=section&id=%E4%B8%AD%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%9B%9E%E9%A1%B5) The Group's unaudited consolidated financial statements for the six months ended June 30, 2025, have been reviewed by the external auditor and the Board's audit committee - The interim financial statements were not audited by the external auditor but were reviewed by the **external auditor and the Board's audit committee** `[66](index=66&type=chunk)` - The audit committee comprises two independent non-executive directors and one non-executive director, with **Mr. Xu Jing** serving as the Chairman of the audit committee `[66](index=66&type=chunk)` [Interim Dividend](index=21&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board of Directors does not recommend an interim dividend for the six months ended June 30, 2025 - The Board of Directors does not recommend an interim dividend for the six months ended **June 30, 2025** (2024: nil) `[67](index=67&type=chunk)` [Purchase, Sale or Redemption of the Company's Listed Securities](index=21&type=section&id=%E8%B4%AD%E4%B9%B0%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B5%8E%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E7%9A%84%E4%B8%8A%E5%B8%82%E8%AF%81%E5%88%B8) 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, neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities `[68](index=68&type=chunk)` [Publication of Interim Results Announcement and Interim Report](index=21&type=section&id=%E5%88%8A%E5%8F%91%E4%B8%AD%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%85%AC%E5%91%8A%E5%8F%8A%E4%B8%AD%E6%9C%9F%E6%8A%A5%E5%91%8A) This interim results announcement has been published on the HKEXnews website and the company's website, and the interim report will be published in due course - The interim results announcement has been published on the **HKEXnews website www.hkexnews.hk** and the **company's website www.jkzlkj.cn** `[69](index=69&type=chunk)` - The interim report for the six months ended **June 30, 2025**, will be published on the aforementioned websites in due course `[69](index=69&type=chunk)`

香港联交所最新资料显示，8月19日，百度(香港)有限公司减持健康之路(02587)1005.15万股，每股作价 10.4713港元，总金额约为1.05亿港元。减持后最新持股数目为9619.36万股，最新持股比例为10.96%。 ...

Group 1 - Baidu (Hong Kong) Limited reduced its stake in Health Road (02587) by 10.0515 million shares on August 19, at a price of HKD 10.4713 per share, totaling approximately HKD 105 million [1] - After the reduction, Baidu's latest shareholding stands at 96.1936 million shares, representing a holding percentage of 10.96% [1]

Company Overview - Health Road (02587.HK) closed at HKD 10.3 per share, up 8.08% with a trading volume of 119 million shares and a turnover of HKD 1.197 billion, showing a volatility of 10.07% [1] - Over the past month, Health Road has seen a cumulative increase of 7.08%, but a year-to-date decline of 27.14%, underperforming the Hang Seng Index which has risen by 25.45% [1] - As of December 31, 2024, Health Road reported total revenue of HKD 1.201 billion, a year-on-year decrease of 3.51%, and a net profit attributable to shareholders of -HKD 268 million, an increase of 13.42% year-on-year, with a gross margin of 30.47% and a debt-to-asset ratio of 59.82% [1] Industry Analysis - Currently, there are no institutional investment ratings for Health Road [2] - The average price-to-earnings (P/E) ratio for the healthcare equipment and services industry is -10.95 times, with a median of 0.36 times. Health Road's P/E ratio stands at -28.85 times, ranking 66th in the industry [2] - Competitors' P/E ratios include: Other Star Medical Holdings (02393.HK) at 0.35 times, Jingjiu Health (00648.HK) at 0.37 times, Yihui Group (08161.HK) at 2.32 times, Global Medical (02666.HK) at 5.14 times, and Ruici Medical (01526.HK) at 5.2 times [2] Business Position - Health Road operates a digital health service platform in China and is the fourth largest digital health service platform based on registered personal users as of December 31, 2023, and the fifth largest based on revenue for 2023 [2] - Since 2001, the company has provided health services to individual users on its digital platform and expanded to offer corporate services and digital marketing since 2015, playing a significant role in the digital transformation of China's health and wellness industry over the past 20 years [2] Important Dates - The company is scheduled to disclose its mid-year report for the fiscal year 2025 on August 29, 2025 [3] - On August 15, 2025, Best Premier Group Investment Limited reduced its holdings by 3 million shares at an average price of HKD 7.6 per share, now holding 85.23 million shares, representing 9.71% of total shares [3]

Core Insights - On August 19, 2025, Oriental Selection (01797), Tracker Fund of Hong Kong (02800), and Tencent Holdings (00700) were the top three stocks by trading volume in the Southbound Stock Connect, with trading amounts of 7.043 billion, 5.106 billion, and 3.221 billion respectively [1] - In the Shenzhen-Hong Kong Stock Connect, Oriental Selection (01797), Hang Seng China Enterprises Index ETF (02828), and Tracker Fund of Hong Kong (02800) were the top three stocks, with trading amounts of 3.294 billion, 2.215 billion, and 2.021 billion respectively [1] Southbound Stock Connect - Top Active Companies - Oriental Selection (01797) had a trading amount of 7.043 billion with a net buy of -48.8231 million [2] - Tracker Fund of Hong Kong (02800) recorded a trading amount of 5.106 billion with a net buy of 5.089 billion [2] - Tencent Holdings (00700) had a trading amount of 3.221 billion with a net buy of 979 million [2] - Alibaba Group (09988) had a trading amount of 2.547 billion with a net buy of -7.2321 million [2] - SMIC (00981) recorded a trading amount of 2.084 billion with a net buy of 160.3 million [2] Shenzhen-Hong Kong Stock Connect - Top Active Companies - Oriental Selection (01797) had a trading amount of 3.294 billion with a net buy of -464 million [2] - Hang Seng China Enterprises Index ETF (02828) recorded a trading amount of 2.215 billion with a net buy of 2.215 billion [2] - Tracker Fund of Hong Kong (02800) had a trading amount of 2.021 billion with a net buy of 1.982 billion [2] - Tencent Holdings (00700) recorded a trading amount of 2.018 billion with a net buy of 46.322 million [2] - Alibaba Group (09988) had a trading amount of 1.984 billion with a net buy of 268 million [2]

Group 1 - The core point of the article is that Chen Yong reduced his stake in Health Road (02587) by selling 3 million shares at a price of 7.6 HKD per share, totaling 22.8 million HKD [1] - After the reduction, Chen Yong's latest shareholding is 85.2305 million shares, representing a holding percentage of 9.71% [1]

Group 1 - Tianfu and Nova Coffee are collaborating to promote a "convenience store + coffee" model, leveraging Nova's product strength and Tianfu's 7,500 convenience store channels to enhance operational efficiency and target younger consumers [1] - The China Securities Regulatory Commission has requested additional materials from Banou regarding its Hong Kong IPO application, focusing on key issues such as equity structure and compliance [3] - JD Group's CEO stated that the company will not participate in the "malicious subsidies" in the food delivery market, which he believes disrupts the pricing system and creates a lose-lose situation for all parties involved [4] Group 2 - Suning.com announced a debt settlement with Carrefour, planning to pay 220 million yuan to clear related debts, which will result in Suning indirectly holding 100% of Carrefour China [6] - Guizhou Moutai reported a net profit of 45.403 billion yuan for the first half of 2025, with a revenue of 89.389 billion yuan, reflecting a year-on-year growth of 9.1% [6] - The fruit juice brand "Guolifang" under the Bottle Planet Group continues to show strong growth, with sales exceeding 10 million in four cities in the first half of the year [7] Group 3 - Sam's Club in Zhongshan is set to open in September, marking the first "Green Building Three-Star" Sam's store in the Greater Bay Area [7] - Walmart China celebrated the 29th anniversary of its first store opening, emphasizing its commitment to becoming the most trusted omnichannel retailer in China [6] - Taobao Hong Kong launched a limited-time "zero threshold" shipping promotion, allowing users to enjoy free shipping on single items without a minimum purchase requirement [10]

Core Viewpoint - The company, Health Road (02587.HK), will hold a board meeting on August 29, 2025, to review and approve its interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend distribution, if any [1] Group 1 - The board meeting is scheduled for August 29, 2025 [1] - The meeting will focus on the interim results for the six months ending June 30, 2025 [1] - The company will also consider the proposal for an interim dividend distribution during the meeting [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之 任 何 損 失 承 擔 任 何 責 任。 中 國 福 州，2025年8月13日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 張 萬 能 先 生 及 陳 晶 先 生；非 執 行 董 事 章 向 明 先 生；及 獨 立 非 執 行 董 事 徐 景 先 生、Lu Tao博 士 及 鄧 曉 嵐 女 士。 董 健 康 之 路 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 為「本集團」）董 事 會 （「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於2025年8月29日（星 期 五）舉 行，以 審 議及批准本集團截至2025年6月30日 止 六 個 月 之 未 經 審 核 中 期 業 績，考 慮 是 否 宣 派 中 期 股 息 及 處 理 任 何 其 他 事 項。 代表董事會 健康之路股份有限公司 事 會 主 席、執 行 董 事 兼 行 政 總 裁 張 ...