Core Viewpoint - Far East China Holdings Limited (远大中国) experienced a significant stock price increase of 49.4% on August 15, reaching HKD 0.124 per share, with a trading volume of HKD 2.7212 million [1] Company Overview - Far East China is a leading global enterprise in the construction curtain wall industry, providing high-quality curtain wall products and services [1] - The company has completed over 3,100 engineering projects and has installed more than 65 million square meters of curtain walls [1] - It operates 1,150 sets of advanced automated processing equipment, capable of meeting an annual demand of 13 million square meters [1] - The company has established R&D institutions in 12 regions worldwide, employing over 1,500 technical personnel [1] - R&D expenditure accounts for 2.3% to 3.6% of revenue, resulting in the continuous development of new products and the acquisition of 831 patents [1] Financial Performance - As of the 2024 annual report, the company reported total revenue of RMB 2.212 billion and a net loss of RMB 354 million [1] - On August 14, the company projected a significant increase in mid-2025 interim performance, with estimated profits ranging from RMB 150 million to RMB 210 million, representing a year-on-year growth of 2,400% to 3,400% [1]

Group 1: Core Insights - Rongchang Biologics (09995.HK) announced that its innovative drug Taitasip (brand name: Tai Ai®) for treating primary Sjögren's syndrome has met the primary endpoint in a Phase III clinical trial in China [1] - Taitasip is the first BLyS/APRIL dual-target fusion protein drug to complete Phase III research in the field of Sjögren's syndrome globally [1] - The clinical trial was a multi-center, randomized, double-blind, placebo-controlled study aimed at evaluating the efficacy and safety of Taitasip, with the primary endpoint being the change in ESSDAI score at week 24 compared to baseline [1] Group 2: Disease Background and Drug Mechanism - Sjögren's syndrome is a chronic inflammatory autoimmune disease characterized by lymphocytic infiltration and damage to exocrine glands, leading to persistent dry mouth and dry eyes, and can affect multiple organ systems [2] - The prevalence of Sjögren's syndrome in China is estimated to be between 0.3% and 0.7%, with an increasing trend indicating a significant unmet clinical need [2] - Taitasip is a novel dual-target fusion protein developed by the company that simultaneously inhibits the overexpression of BLyS and APRIL, effectively preventing abnormal differentiation and maturation of B cells [2] Group 3: Regulatory and Clinical Recognition - Taitasip has received multiple authoritative guideline recommendations in China, including the "Clinical Practice Guidelines for Sjögren's Syndrome" and the "Expert Consensus on B-cell Targeted Therapy for Rheumatic and Immune Diseases" [2] - Internationally, Taitasip has been granted Fast Track designation by the U.S. FDA for its indication in Sjögren's syndrome and has been approved to conduct global multi-center Phase III clinical trials [2]

Group 1 - The company, Far East Horizon (02789), expects to achieve a net profit of approximately 150 million to 210 million yuan in the first half of 2025, compared to a net profit of 6 million yuan in the same period of 2024 [1] - The primary reason for the profit growth is the successful progress of the company's internationalization strategy, which has led to significant contributions from overseas market orders [1] - The company also reported an increase in exchange gains during the period compared to the same period in 2024, contributing to the overall revenue growth [1]

董事会认为，该期间的业绩取得增长的主要原因是(i)该期间内集团国际化战略取得良好进展，海外市场 订单贡献突出，使得集团该期间的收入规模较2024同期取得增长，及(ii)该期间集团汇兑收益较2024年 同期取得增长。 格隆汇8月14日丨远大中国(02789.HK)发布公告，集团预计截至2025年6月30日止六个月录得净利润介于 约人民币150百万元至人民币210百万元，较2024年同期录得的净利润人民币约6.0百万元有显著改善。 ...

2789 正面盈利預告 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佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容 而產生或因依賴該等內容而引致之任何損失承擔任何責任。 Yuanda China Holdings Limited 股東及投資者在買賣本公司普通股份時務須謹慎行事。 承董事會命 遠大中國控股有限公司 主席 康寶華 中國，2025年8月14日 本公告乃由遠大中國控股有限公司（「本公司」，連同其附屬公司稱「本集團」）根據香港法 例第571章證券及期貨條例第XIVA部內幕消息條文（定義見香港聯合交易所有限公司證券 上市規則（「上市規則」））及上市規則第13.09(2)(a)條而作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者，根據對 本集團截至2025年6月30日止六個月（「該期間」）最新未經審核綜合管理帳目之初步評估及 董事會現時可得之其他資料，該期間本集團預期錄得淨利潤介於約人民幣150百萬元至人 民幣210百萬元，較2024年同期錄得的淨利潤人民幣約6.0百萬元有顯著改善。董事會認 為，該期間之 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 本月底法定/註冊股本總額： HKD 1,200,000,000 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 公司名稱: 遠大中國控股有限公司 | 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) | 02789 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 12,000,000,000 | HKD | | 0.1 | HKD | | 1,200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 12,000,000,000 | HKD | ...

Financial Performance - Revenue for 2024 was approximately RMB 2,212.4 million, a decrease of 13.9% from RMB 2,569.5 million in 2023[12] - Adjusted gross profit margin for 2024 was 11.5%, down from 15.4% in 2023[12] - Consolidated net loss for 2024 was RMB 354.0 million, compared to a net profit of RMB 25.3 million in 2023[12] - Basic and diluted loss per share for 2024 was RMB (5.70) cents, compared to earnings of RMB 0.41 cents per share in 2023[12] - The Group's revenue and gross profit decreased in 2024 compared to 2023 due to the weak global macroeconomic conditions and unfavorable market environment[21] - The loss attributable to equity shareholders of the Company for 2024 was RMB 354.0 million, primarily due to decreased revenue and gross profit amid unfavorable market conditions[75] Cash Flow and Financial Position - Net cash generated from operating activities in 2024 was RMB 212.9 million, a decrease from RMB 349.3 million in 2023[12] - As of December 31, 2024, the Group's net current liabilities were RMB 75.1 million, a shift from net current assets of RMB 169.4 million as of December 31, 2023[80] - The Group's cash and cash equivalents increased by RMB 59.6 million or 21.7% to RMB 334.1 million as of December 31, 2024, compared to RMB 274.5 million as of December 31, 2023[82] - The total bank loans decreased by RMB 19.0 million or 2.7% to RMB 695.0 million as of December 31, 2024, from RMB 714.0 million as of December 31, 2023[83] - The gearing ratio as of December 31, 2024, was 88.7%, an increase from 82.2% as of December 31, 2023[84] Market and Economic Conditions - China's GDP in 2024 was approximately RMB 134.91 trillion, representing a 5.0% increase compared to the previous year[17] - The economic structure in China continued to optimize, indicating both quantitative growth and qualitative improvement in 2024[17] - The central government continued to implement policies to stabilize the real estate market, but overall operating pressure on real estate companies remained high due to constrained funding and high inventory levels[20] Strategic Focus and Future Plans - The company aims to focus on independent branding and intellectual property development as part of its long-term strategy[15] - The Group focused on a strategy of "cost reduction, efficiency enhancement, healthy development" in 2024 to address operational pressures[20] - In 2025, the Group plans to adopt a prudent approach in strategic decision-making and strengthen risk management measures[22] - The Group aims to capitalize on market challenges and adapt marketing strategies to evolving market dynamics in 2025[22] Operational Efficiency and Management - The Group enhanced project management efficiency and improved contract quality standards to ensure operational stability and sustainability[20] - The Group obtained 4 utility model patents in 2024, reflecting its commitment to technological innovation[38] - The Group's expected credit losses of financial and contract assets increased to approximately RMB176.8 million in 2024, up by about RMB53.2 million from RMB123.6 million in 2023, accounting for 8.0% of the Group's revenue[58] Employee and Governance Structure - The total number of full-time employees increased to 2,451 as of December 31, 2024, up from 2,376 in the previous year, reflecting the company's expansion of its technical talent pool[120] - The company has a strong management team with extensive experience in the industry, including key executives with over 29 years of experience in manufacturing and project management[123] - The company has adopted the Corporate Governance Code (CG Code) to govern its corporate governance practices, ensuring compliance with all code provisions for the year ended December 31, 2024[148] - The Board consists of seven members, including four executive directors and three independent non-executive directors, meeting the requirements of the Listing Rules[154] Diversity and Inclusion - As of December 31, 2024, the workforce consists of 2,081 male employees and 370 female employees, representing approximately 84.9% and 15.1% respectively, with a target to achieve a female employee ratio of at least 17.0% by 2030[176] - The Board has achieved gender diversity following the appointment of Ms. Yang Qianwen as an independent non-executive Director on April 18, 2023, fulfilling the requirement under Rule 13.92 of the Listing Rules[175] Risk Management - The Group plans to implement more stringent risk management measures to navigate future opportunities and challenges effectively[41] - The company has entered into forward foreign exchange contracts to hedge against foreign exchange risks from overseas projects denominated in USD, GBP, and AUD[93]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 2,212.4 million, a decrease of 13.9% from RMB 2,569.5 million in 2023[4] - The adjusted gross profit margin for 2024 was 11.5%, down from 15.4% in the previous year[4] - The company recorded a net loss attributable to shareholders of RMB 354.0 million for 2024, compared to a profit of RMB 25.3 million in 2023[4] - Basic and diluted loss per share for 2024 was RMB (5.70), compared to earnings of RMB 0.41 per share in 2023[4] - Total revenue from external customers for 2024 was RMB 2,212,363 thousand, a decrease of 13.9% from RMB 2,569,509 thousand in 2023[26] - Adjusted gross profit for 2024 was RMB 253,795 thousand, down 35.9% from RMB 396,021 thousand in 2023[28] - The company reported a pre-tax loss of RMB 248,450 thousand for 2024, compared to a profit of RMB 19,865 thousand in 2023[28] - The company recorded a consolidated net loss of approximately RMB 354.0 million for 2024, compared to a profit of RMB 25.3 million in 2023[73] Cash Flow and Liabilities - Operating cash flow generated was RMB 212.9 million, a decline from RMB 349.3 million in the prior year[4] - The company's net liabilities position shifted to RMB (75.1 million) in 2024 from a net asset position of RMB 169.4 million in 2023[11] - The company experienced a significant increase in expected credit losses on financial and contract assets, rising to RMB 176.8 million from RMB 123.6 million in 2023[5] - The group continues to negotiate with banks for the renewal of short-term loans and additional financing[13] - The company expects all trade receivables and payables to be settled within one year, maintaining liquidity[48] Revenue Breakdown - Domestic revenue for 2024 was RMB 1,016,362 thousand, a slight decrease from RMB 1,031,099 thousand in 2023[30] - Overseas revenue for 2024 was RMB 1,196,001 thousand, a decrease of 22.3% from RMB 1,538,410 thousand in 2023[30] - The total transaction value of remaining performance obligations under existing contracts as of December 31, 2024, is RMB 8,528.3 million, up from RMB 6,299.7 million in 2023[23] - The expected total transaction value of potential contracts won by the group is RMB 2,876.0 million as of December 31, 2024, down from RMB 3,558.0 million in 2023[23] Expenses and Costs - Employee costs increased to RMB 428,433 thousand in 2024 from RMB 411,524 thousand in 2023[33] - Research and development expenses rose to RMB 91,426 thousand in 2024, up from RMB 77,159 thousand in 2023[34] - The company incurred a net financing cost of RMB 68,516 thousand in 2024, compared to a net financing income of RMB 43,537 thousand in 2023[32] - The company received government grants totaling RMB 1,104 thousand in 2024, down from RMB 10,009 thousand in 2023[31] Dividends and Shareholder Returns - The company did not declare a final dividend for the fiscal year 2024, consistent with the previous year[4] - The board decided not to declare a final dividend for the year ending December 31, 2024, consistent with 2023[95] - A special dividend of HKD 0.04 per share was proposed, amounting to a total of approximately HKD 248.35 million (about RMB 229.97 million), compared to zero in 2023[52] Contracts and Projects - The total value of new contracts awarded in 2024 was approximately RMB 3,326.0 million, a decrease of about RMB 1,523.6 million or 45.8% compared to RMB 4,849.6 million in 2023, reflecting a cautious approach to project acceptance[58] - The number of projects awarded domestically decreased from 100 in 2023 to 73 in 2024, with the corresponding value dropping from RMB 2,220.6 million to RMB 1,762.1 million[59] - The total amount of uncompleted contracts as of December 31, 2024, was approximately RMB 11,404.3 million, an increase of about RMB 1,546.7 million or 15.7% from RMB 9,857.6 million in 2023, providing strong support for the company's development over the next 2-3 years[60] Auditor and Compliance - KPMG resigned as the company's auditor effective December 20, 2021, due to a disagreement over audit service fees[100] - The company appointed Daxin Hong Kong as its auditor effective December 20, 2021, but they resigned on June 17, 2022, due to the impact of COVID-19 policies[100] - KPMG was reappointed as the company's auditor effective June 30, 2022[100] - There have been no other changes regarding the company's auditors in the past three years[101] Future Outlook and Strategy - The company plans to maintain a prudent approach in strategic decisions and business operations, focusing on high-quality operations and sustainable development in 2025[63] - The company aims to enhance project management efficiency and ensure stable and sustainable operations through various measures, including refined management of individual projects and dynamic monitoring of operational risks[56]

Revenue Performance - Revenue for the six months ended June 30, 2024, was RMB 1,088.2 million, an increase from RMB 1,034.2 million for the same period in 2023, representing a growth of approximately 5.2%[5] - For the six months ended June 30, 2024, the Group's revenue increased by approximately RMB 54.0 million or 5.2% to approximately RMB 1,088.2 million compared to the same period in 2023[12] - Domestic revenue for the same period increased by approximately RMB 187.7 million or 54.0% to approximately RMB 535.4 million, contributing approximately 49.2% of total revenue[12] - Overseas revenue decreased by approximately RMB 133.6 million or 19.5% to approximately RMB 552.8 million, contributing approximately 50.8% of total revenue[12] - Revenue from contracts with customers in the Chinese Mainland amounted to RMB 535,336,000, up from RMB 347,719,000 in 2023, reflecting a significant increase of approximately 54%[72] - Revenue from overseas contracts, particularly in Qatar, reached RMB 121,641,000, compared to RMB 57,630,000 in 2023, indicating an increase of approximately 111%[72] - The Group's overall performance indicates a positive trend in revenue growth, particularly in the domestic market and selected overseas markets, suggesting effective market expansion strategies[72] Profitability and Earnings - Profit for the period attributable to equity shareholders of the Company was RMB 6.0 million, down from RMB 6.4 million in the previous year[5] - For the six months ended June 30, 2024, the profit attributable to equity shareholders decreased by approximately RMB 0.4 million or 6.3% to approximately RMB 6.0 million compared to RMB 6.4 million in the same period of 2023[8] - Basic and diluted earnings per share remained stable at RMB 0.10 for both periods[5] - The Group's adjusted gross profit margin increased by approximately 12.9 percentage points to approximately 18.5% compared to 5.6% in the same period of 2023[14] - Adjusted gross profit for the reportable segments for the six months ended June 30, 2024, was RMB 201,620,000, significantly higher than RMB 58,157,000 in the same period of 2023, indicating a substantial increase of approximately 246%[76] - Profit before taxation for the six months ended June 30, 2024, was RMB 9,369,000, compared to RMB 11,820,000 in 2023, indicating a decrease of approximately 20.8%[76] Cash Flow and Financial Position - Net cash used in operating activities was RMB (198.6) million, a decline from RMB 185.1 million generated in the same period last year[5] - The Group recognized a net finance expense of approximately RMB 24.9 million for the six months ended June 30, 2024, a decrease from a net finance income of approximately RMB 103.6 million in the same period of 2023, accounting for -2.3% of operating revenue[18] - As of June 30, 2024, the net current assets of the Group increased by approximately RMB 19.6 million or 11.6% to approximately RMB 189.0 million compared to 31 December 2023[18] - The cash on hand and in bank increased by approximately RMB 126.7 million or 21.3% to approximately RMB 722.2 million as of June 30, 2024 compared to 31 December 2023[18] - The total bank loans of the Group decreased by approximately RMB 10.0 million or 1.4% to approximately RMB 704.0 million as of June 30, 2024 compared to 31 December 2023[20] - The total other borrowings of the Group increased by approximately RMB 316.4 million or 74.6% to approximately RMB 740.8 million as of June 30, 2024 compared to 31 December 2023[20] - The Group's gearing ratio was 83.1% as of June 30, 2024, an increase from 82.2% on 31 December 2023[20] Project and Market Developments - The total value of newly-awarded projects decreased by approximately RMB 454.9 million or 27.0% to approximately RMB 1,227.3 million compared to RMB 1,682.2 million in the same period of 2023[8] - The total value of newly-awarded domestic projects increased by approximately RMB 298.5 million or 52.8% to approximately RMB 863.9 million compared to RMB 565.4 million in the same period of 2023[10] - The total value of newly-awarded overseas projects decreased by approximately RMB 753.4 million or 67.5% to approximately RMB 363.4 million compared to RMB 1,116.9 million in the same period of 2023[10] - The building curtain wall market is expected to grow steadily in the long term, driven by market demand towards green, high-end, and smart transformation[10] - The company is focusing on technological innovations, primarily in smart and prefabricated technologies[10] Expenses and Cost Management - The cost of sales decreased by approximately RMB 59.7 million or 6.4% to approximately RMB 873.3 million, attributed to effective cost control measures[14] - Selling expenses decreased by approximately RMB 1.0 million or 5.0% to approximately RMB 19.1 million, accounting for approximately 1.8% of operating revenue[16] - For the six months ended June 30, 2024, the Group's administrative expenses increased by approximately RMB 13.1 million or 9.5% to approximately RMB 151.4 million compared to the same period in 2023[18] - Staff costs for the six months ended June 30, 2024, totaled RMB 199,668,000, slightly up from RMB 197,574,000 in 2023, reflecting a marginal increase of about 1.1%[77] Shareholder and Governance Information - No interim dividend was proposed for the current period, compared to nil in the previous year[5] - The Group did not declare any interim dividend for the six months ended June 30, 2024[37] - The company has complied with all code provisions of the Corporate Governance Code for the six months ended June 30, 2024[46] - All directors confirmed compliance with the Model Code for securities transactions for the six months ended June 30, 2024[48] - The total number of issued shares is 6,208,734,000[39] Legal and Contingent Liabilities - The Group has contingent liabilities amounting to approximately RMB171.0 million as performance guarantees provided by banks or insurance companies for construction contracts[123] - The Group has a legal claim against a former sub-contractor in India, with a court ruling in favor of the Group for damages amounting to approximately RMB7.0 million[125] - Yuanda UK is facing a lawsuit from Crest Nicholson regarding defects in the Admiralty Quarter development, with estimated remedial costs of GBP24.0 million (approximately RMB217.0 million)[132] - The Directors believe it is unlikely that the courts will rule against the Group's subsidiaries in the ongoing legal matters[134] Future Outlook - Future outlook indicates a projected revenue growth of 10% for the second half of 2024, driven by new product launches and market expansion strategies[140] - The company plans to enter two new international markets by the end of 2024, aiming to diversify its revenue streams[140] - A strategic acquisition of a local tech firm is expected to be finalized by Q3 2024, which will enhance Yuanda's technological capabilities[140]

Revenue Performance - Revenue for the six months ended June 30, 2024, was RMB 1,088.2 million, an increase of 5.2% compared to RMB 1,034.2 million for the same period in 2023[2] - Total revenue for the six months ended June 30, 2024, was RMB 1,088,162 thousand, an increase of 5.2% from RMB 1,034,150 thousand for the same period in 2023[13] - Revenue from domestic contracts in mainland China reached RMB 535,336 thousand, up 53.8% from RMB 347,719 thousand in the previous year[13] - Domestic revenue for the company for the six months ended June 30, 2024, was approximately RMB 535.3 million, an increase of about RMB 187.6 million or 54.0% compared to the same period in 2023, accounting for approximately 49.2% of total revenue[44] - Overseas revenue for the company for the six months ended June 30, 2024, was approximately RMB 552.8 million, a decrease of about RMB 133.6 million or 19.5% compared to the same period in 2023, accounting for approximately 50.8% of total revenue[45] Profitability - Adjusted gross profit margin improved significantly to 18.5% from 5.6% year-on-year[2] - Profit attributable to shareholders for the period was RMB 6.0 million, slightly down from RMB 6.4 million in the previous year[2] - The company reported a pre-tax profit of RMB 9.4 million, compared to RMB 11.8 million in the prior year[3] - Total comprehensive income attributable to shareholders was RMB (23.2) million, a decrease from RMB (120.8) million in the previous year[4] - The company reported a pre-tax profit of RMB 9,369 thousand for the six months ended June 30, 2024, down from RMB 11,820 thousand in the previous year[18] - For the six months ended June 30, 2024, the company's profit attributable to shareholders was approximately RMB 6.0 million, a decrease of about RMB 0.4 million or 6.3% compared to the same period in 2023[40] Cash Flow and Financing - Net cash used in operating activities was RMB (198.6) million, a decline from RMB 185.1 million generated in the same period last year[2] - Cash and cash equivalents as of June 30, 2024, were RMB 124.34 million, down from RMB 274.52 million at the end of 2023[10] - The company plans to improve cash flow by accelerating invoicing and negotiating payment terms with suppliers[10] - The company is in discussions with banks for the renewal of short-term loans and additional credit facilities[10] - The board believes that the company has sufficient funds to meet its liabilities due within the next twelve months[10] Costs and Expenses - The company's cost of sales for the six months ended June 30, 2024, was approximately RMB 873.3 million, a decrease of about RMB 59.7 million or 6.4% compared to the same period in 2023, attributed to effective cost control measures[46] - Total financing costs for the six months ended June 30, 2024, were RMB 40,089 thousand, a decrease from RMB 44,278 thousand in the same period of 2023[18] - Research and development costs for the six months ended June 30, 2024, were RMB 12,435 thousand, slightly up from RMB 12,159 thousand in the previous year[20] - The company’s employee costs totaled RMB 199,668 thousand for the six months ended June 30, 2024, compared to RMB 197,574 thousand in the previous year[19] - Administrative expenses increased to approximately RMB 151.4 million, up about RMB 13.1 million or 9.5% from RMB 138.3 million in the previous year, accounting for approximately 13.9% of operating revenue[50] Assets and Liabilities - The contract assets as of June 30, 2024, amounted to RMB 1,167,712,000, a slight decrease from RMB 1,188,488,000 as of December 31, 2023[26] - The contract liabilities increased to RMB 536,676,000 as of June 30, 2024, from RMB 508,569,000 as of December 31, 2023[27] - Trade receivables and notes receivable (net of impairment) were RMB 1,602,477,000 as of June 30, 2024, compared to RMB 1,529,231,000 as of December 31, 2023[31] - The total trade payables and notes payable amounted to RMB 1,474,396,000 as of June 30, 2024, down from RMB 1,573,174,000 as of December 31, 2023[32] Corporate Governance - The audit committee has reviewed the unaudited consolidated interim financial information for the six months ended June 30, 2024, confirming compliance with applicable accounting standards and listing rules[62] - The company has adhered to all corporate governance code provisions as per the listing rules for the six months ended June 30, 2024[63] - The board has adopted the standard code for securities trading, confirming that all directors complied with the code during the six months ended June 30, 2024[64] Dividends and Securities - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[34] - The board decided not to declare an interim dividend for the six months ended June 30, 2024, consistent with the previous period[65] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the six months ended June 30, 2024[66]