FF301 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: 彼岸控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02885 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底法 ...

Dear Non-registered Shareholder (Note 1) (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） (Stock Code 股份代號：2885) NOTIFICATION LETTER 通 知 信 函 , 19 September 2025 The following document(s) of Peiport Holdings Ltd. (the "Company") has/have been prepared in both English and Chinese and is/are available on the websites of the Company at www.peiport.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- • Interim Report 2025 Please provide yo ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） (Stock Code 股份代號：2885) NOTIFICATION LETTER 通知信函 The following document(s) of Peiport Holdings Ltd. (the "Company") has/have been prepared in both English and Chinese and is/are available on the websites of the Company at www.peiport.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- • Interim Report 2025 If you have not provided us with an email address but now would like to receive a ...

Contents 目錄 | 2 | Corporate Information | 公司資料 | | --- | --- | --- | | 4 | Management Discussion and Analysis | 管理層討論及分析 | | 15 | Corporate Governance and Other Information | 企業管治及其他資料 | | 23 | Interim Condensed Consolidated Statement of | 中期簡明綜合損益及 | | | Profit or Loss and Other Comprehensive Income | 其他全面收益表 | | 24 | Interim Condensed Consolidated Statement of | 中期簡明綜合財務狀況表 | | | Financial Position | | | 26 | Interim Condensed Consolidated Statement of | 中期簡明綜合權益變動表 | | | Changes in Equity | | | 27 | Inte ...

FF301 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: 彼岸控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年9月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02885 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底法定 ...

彼岸控股(02885)发布截至2025年6月30日止6个月中期业绩，该集团取得收益9660万港元，同比减少 30.24%;母公司拥有人应占溢利242.2万港元，同比减少15.37%;每股盈利0.61港仙。 热成像产品及服务产生的收益由截至2024年6月30日止6个月约2880万港元减少约460万港元或16.0%至 截至2025年6月30日止6个月约2420万港元。减少乃主要由于红外线成像仪需求减少以致向现有客户的相 关产品销售减少。 ...

Group 1 - The company reported a revenue of HKD 96.6 million for the six months ending June 30, 2025, representing a year-on-year decrease of 30.24% [1] - The profit attributable to the parent company was HKD 2.422 million, down 15.37% year-on-year, with earnings per share at HKD 0.0061 [1] - Revenue from thermal imaging products and services decreased from approximately HKD 28.8 million for the six months ending June 30, 2024, to about HKD 24.2 million for the same period in 2025, a reduction of approximately HKD 4.6 million or 16.0% [1] Group 2 - The decline in revenue was primarily due to a decrease in demand for infrared imaging devices, leading to reduced sales of related products to existing customers [1]

Group 1 - The core viewpoint of the article highlights that Bi'an Holdings (02885.HK) reported a significant decline in revenue and profit for the first half of 2025, with revenue approximately HKD 96.6 million, a year-on-year decrease of about 30.3% [1] - The net profit attributable to the parent company decreased by approximately 17.2% to around HKD 2.4 million, with earnings per share for ordinary equity holders at HKD 0.0061 [1][2] - The company faces unprecedented challenges primarily due to uncontrollable external macroeconomic factors, including persistently high U.S. interest rates, inflation driven by trade tariffs, soaring global energy prices, and the ongoing Russia-Ukraine conflict [1]

EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公告日期，執行董事為楊倫楨先生、王群力女士及楊振泰先生，以及獨立非執行董事為牛鍾洁先生、楊曉芙女士及侯珉先生。 免責聲明 第 2 頁 共 2 頁 v 1.1.1 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 彼岸控股有限公司（於開曼群島註冊成立之有限公司） | | | 股份代號 | 02885 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月之中期股息 | | 公告日期 | 2025年8月26日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | ...

[Company Information and Report Overview](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%E6%A6%82%E8%A7%88) [Corporate Information](index=1&type=section&id=%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E4%BF%A1%E6%81%AF) Peiport Holdings Ltd, a Cayman Islands incorporated company with stock code 2885, presents its unaudited interim financial results for the six months ended June 30, 2025 - Company Name: **Peiport Holdings Ltd.**, Stock Code: **2885**[2](index=2&type=chunk) - Reporting Period: Unaudited interim condensed consolidated financial results for the six months ended **June 30, 2025**[2](index=2&type=chunk) [Basis of Preparation](index=5&type=section&id=%E6%8A%A5%E5%91%8A%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The interim financial statements are prepared under HKAS 34 and Listing Rules Appendix D2 on a historical cost basis, presented in Hong Kong dollars and rounded to the nearest thousand - Basis of Preparation: Hong Kong Accounting Standard (HKAS) 34 "Interim Financial Reporting" and Appendix D2 of the Securities Listing Rules[9](index=9&type=chunk) - Accounting Basis: Historical cost basis, presented in Hong Kong dollars, with all values rounded to the nearest thousand[10](index=10&type=chunk) - Changes in Accounting Policies: The amendment to HKAS 21 "Lack of Exchangeability" has **no material impact** on the Group's financial statements[11](index=11&type=chunk)[12](index=12&type=chunk) [Interim Condensed Consolidated Financial Statements](index=1&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=%E4%B8%AD%20%E6%9C%9F%20%E7%B0%A1%20%E6%98%8E%20%E7%B6%9C%20%E5%90%88%20%E6%90%8D%20%E7%9B%8A%20%E5%8F%8A%20%E5%85%B6%20%E4%BB%96%20%E5%85%A8%20%E9%9D%A2%20%E6%94%B6%20%E7%9B%8A%20%E8%A1%A8) For the six months ended June 30, 2025, revenue decreased by 30.3% to HK$96.6 million, gross profit fell to HK$25.7 million, and profit attributable to owners was HK$2.4 million, with basic earnings per share of 0.61 HK cents Key Data from the Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Revenue | 96,600 | 138,473 | | Cost of sales | (70,888) | (90,708) | | Gross profit | 25,712 | 47,765 | | Other income and gains, net | 8,128 | 4,338 | | Selling and distribution expenses | (16,529) | (17,899) | | Administrative expenses | (19,503) | (19,976) | | Reversal of/(impairment losses) on financial assets, net | 14,620 | (6,625) | | Other expenses | – | (3,450) | | Finance costs | (333) | (300) | | Profit before tax | 12,095 | 3,853 | | Income tax expense | (9,673) | (984) | | Profit for the period | 2,422 | 2,869 | | Profit attributable to owners of the parent | 2,422 | 2,862 | | Profit attributable to non-controlling interests | – | 7 | | Total comprehensive income for the period | 2,376 | 2,296 | | Basic and diluted earnings per share attributable to ordinary equity holders of the parent | 0.61 HK cents | 0.72 HK cents | [Consolidated Statement of Financial Position](index=3&type=section&id=%E4%B8%AD%20%E6%9C%9F%20%E7%B0%A1%20%E6%98%8E%20%E7%B6%9C%20%E5%90%88%20%E8%B2%A1%20%E5%8B%99%20%E7%8B%80%20%E6%B3%81%20%E8%A1%A8) As of June 30, 2025, total non-current assets decreased to HK$16.9 million, total current assets slightly increased to HK$378.5 million, and total current liabilities rose to HK$77.5 million, resulting in a slight decline in net assets to HK$313.7 million Key Data from the Consolidated Statement of Financial Position | Metric | As at June 30, 2025 (HK$'000) | As at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | 5,275 | 5,382 | | Right-of-use assets | 9,639 | 10,804 | | Intangible assets | 97 | 149 | | Deferred tax assets | 1,918 | 10,795 | | **Total non-current assets** | **16,929** | **27,130** | | **Current assets** | | | | Inventories | 60,514 | 70,473 | | Trade receivables and bills receivable | 46,605 | 38,586 | | Prepayments, deposits and other receivables | 10,886 | 10,006 | | Time deposits with original maturity of more than three months | 54,600 | – | | Cash and cash equivalents | 205,893 | 252,463 | | **Total current assets** | **378,498** | **371,528** | | **Current liabilities** | | | | Trade payables | 14,633 | 14,329 | | Other payables and accruals | 31,306 | 18,327 | | Contract liabilities | 19,170 | 21,765 | | Lease liabilities | 5,785 | 5,007 | | Tax payable | 6,636 | 5,637 | | **Total current liabilities** | **77,530** | **65,065** | | **Net current assets** | **300,968** | **306,463** | | **Total assets less current liabilities** | **317,897** | **333,593** | | **Non-current liabilities** | | | | Lease liabilities | 4,157 | 6,026 | | Deferred tax liabilities | 11 | 14 | | **Total non-current liabilities** | **4,168** | **6,040** | | **Net assets** | **313,729** | **327,553** | | **Total equity** | **313,729** | **327,553** | [Notes to the Interim Condensed Consolidated Financial Statements](index=5&type=section&id=%E4%B8%AD%20%E6%9C%9F%20%E7%B0%A1%20%E6%98%8E%20%E7%B6%9C%20%E5%90%88%20%E8%B2%A1%20%E5%8B%99%20%E5%A0%B1%20%E8%A1%A8%20%E9%99%84%20%E8%A8%BB) [1. Corporate and Group Information](index=5&type=section&id=1.%20%E5%85%AC%20%E5%8F%B8%20%E5%8F%8A%20%E9%9B%86%20%E5%9C%98%20%E8%B3%87%20%E6%96%99) The Group primarily provides thermal imaging, gyro-stabilized imaging, and general aviation products and services, with its ultimate holding company being Peiport Alpha Limited, incorporated in the BVI - The Company is an investment holding company, with principal businesses including thermal imaging, gyro-stabilized imaging, and general aviation products and services[7](index=7&type=chunk) - The Group's ultimate holding company is **Peiport Alpha Limited**, incorporated in the British Virgin Islands[8](index=8&type=chunk) [2.1 Basis of Preparation and Accounting Policies](index=5&type=section&id=2.1%20%E7%B7%A8%20%E8%A3%BD%20%E5%9F%BA%20%E6%BA%96) These interim financial statements are prepared under HKAS 34 and Listing Rules Appendix D2 on a historical cost basis in HKD, with no material impact from newly adopted amended HKFRSs - Basis of Preparation: In accordance with Hong Kong Accounting Standard 34 issued by the HKICPA and Appendix D2 of the Securities Listing Rules[9](index=9&type=chunk) - Accounting Policies: Consistent with the annual consolidated financial statements for the year ended December 31, 2024, except for the adoption of amended HKFRSs this period[11](index=11&type=chunk) - The amendment to HKAS 21 "Lack of Exchangeability" has **no material impact** on the Group's unaudited interim condensed consolidated financial statements[12](index=12&type=chunk) [3. Operating Segment Information](index=6&type=section&id=3.%20%E7%B6%93%20%E7%87%9F%20%E5%88%86%20%E9%83%A8%20%E8%B3%87%20%E6%96%99) The Group operates in thermal imaging, gyro-stabilized imaging, and general aviation, but does not present segment information due to resource integration; revenue from Mainland China, Hong Kong & Macau, and overseas all declined - The Group is principally engaged in thermal imaging products and services, gyro-stabilized imaging products and services, and general aviation products and services[13](index=13&type=chunk) - No operating segment information is presented due to resource integration and the absence of discrete operating segment data[13](index=13&type=chunk) [Geographical Information](index=6&type=section&id=%E5%9C%B0%20%E5%8D%80%20%E8%B3%87%20%E6%96%99) For the six months ended June 30, 2025, revenue from Mainland China was HK$83.2 million, Hong Kong & Macau was HK$11.9 million, and overseas was HK$1.5 million, all showing a year-on-year decline Revenue from External Customers (by location) | Region | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Mainland China | 83,227 | 91,632 | | Hong Kong and Macau | 11,913 | 44,269 | | Overseas | 1,460 | 2,572 | | **Total** | **96,600** | **138,473** | Non-current Assets (by location) | Region | As at June 30, 2025 (HK$'000) | As at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | Mainland China | 8,520 | 8,170 | | Hong Kong | 6,491 | 8,165 | | **Total** | **15,011** | **16,335** | [Information about Major Customers](index=7&type=section&id=%E4%B8%BB%20%E8%A6%81%20%E5%AE%A2%20%E6%88%B6%20%E8%B3%87%20%E6%96%99) During the period, Customer A and Customer B became major customers with revenues of HK$32.8 million and HK$28.4 million respectively, while prior-period major customer C was not disclosed this period Revenue from Major Customers | Customer | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Customer A | 32,794 | 14,648 | | Customer B | 28,425 | N/A* | | Customer C | N/A* | 15,923 | *N/A indicates that the revenue did not individually account for 10% or more of the Group's revenue [4. Revenue, Other Income and Gains, Net](index=7&type=section&id=4.%20%E6%94%B6%20%E7%9B%8A%E3%80%81%E5%85%B6%20%E4%BB%96%20%E6%94%B6%20%E5%85%A5%20%E5%8F%8A%20%E6%94%B6%20%E7%9B%8A%20%E6%B7%A8%20%E9%A1%8D) Total revenue decreased by 30.3% to HK$96.6 million, driven by a 90.8% drop in gyro-stabilized imaging revenue, while other income and gains rose 84.1% to HK$8.1 million due to foreign exchange gains Revenue Analysis | Business Segment | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | **Thermal imaging products and services** | | | | — Sales of goods | 18,295 | 23,328 | | — Provision of repair services | 5,821 | 5,390 | | **Subtotal** | **24,116** | **28,718** | | **Gyro-stabilized imaging products and services** | | | | — Sales of goods | – | 26,806 | | — Provision of repair services | 3,616 | 12,220 | | **Subtotal** | **3,616** | **39,026** | | **General aviation products and services** | | | | — Sales of goods | 68,231 | 68,984 | | — Provision of repair services | 637 | 321 | | **Subtotal** | **68,868** | **69,305** | | Others | – | 1,424 | | **Total** | **96,600** | **138,473** | Other Income and Gains, Net | Item | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Bank interest income | 3,215 | 4,100 | | Government grants | 48 | 44 | | Net foreign exchange differences | 4,731 | – | | Others | 134 | 194 | | **Total** | **8,128** | **4,338** | - Revenue from sales of goods is recognized at a point in time, while revenue from repair services is recognized over time[17](index=17&type=chunk) [5. Profit Before Tax](index=8&type=section&id=5.%20%E9%99%A4%20%E7%A8%85%20%E5%89%8D%20%E6%BA%A2%20%E5%88%A9) Profit before tax was HK$12.1 million, positively impacted by a net reversal of impairment loss on financial assets of HK$14.6 million and net exchange gains of HK$4.7 million, offsetting lower inventory and employee benefit costs Adjustments to Profit Before Tax | Item | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Cost of inventories sold | 65,961 | 83,948 | | Cost of services provided | 4,927 | 6,760 | | Depreciation of property, plant and equipment | 464 | 938 | | Depreciation of right-of-use assets | 3,246 | 3,485 | | Amortisation of intangible assets | 56 | 143 | | Research and development costs | 6,239 | 7,537 | | Reversal of/(impairment losses) on financial assets, net | (14,620) | 6,625 | | Net provision for inventories | 2,231 | 1,187 | | Lease payments for lease liabilities | 72 | – | | Total employee benefit expense | 26,256 | 30,468 | | Net foreign exchange differences | (4,731) | 3,428 | [6. Income Tax](index=9&type=section&id=6.%20%E6%89%80%20%E5%BE%97%20%E7%A8%85) Income tax expense surged to HK$9.7 million due to higher pre-tax profit and an increased effective tax rate, with Hong Kong profits tax at 16.5% (8.25% on the first HK$2 million) and Mainland China at 25% (20% for small enterprises) - Hong Kong profits tax rate: **16.5%**, with one subsidiary taxed at **8.25%** on the first HK$2,000,000 of assessable profits[20](index=20&type=chunk) - Mainland China corporate income tax rate: **25%**, with certain subsidiaries qualifying as small and micro enterprises taxed at a lower rate of **20%** on taxable income up to RMB3,000,000[21](index=21&type=chunk) Income Tax Expense | Item | For the six months ended June 30, 2025 (HK$'000) | For the six months ended June 30, 2024 (HK$'000) | | :--- | :--- | :--- | | Current | 866 | 3,439 | | Deferred | 8,807 | (2,455) | | **Total tax expense for the period** | **9,673** | **984** | [7. Dividends](index=9&type=section&id=7.%20%E8%82%A1%20%E6%81%AF) The Board declared an interim dividend of 5.40 HK cents per ordinary share for the six months ended June 30, 2025, totaling approximately HK$21.6 million, whereas no dividend was declared in the prior period - The Board declared an interim dividend of **5.40 HK cents** per ordinary share for the six months ended June 30, 2025[24](index=24&type=chunk) - The total interim dividend amounts to approximately **HK$21,600,000**, compared to no dividend in the same period of 2024[24](index=24&type=chunk) [8. Earnings Per Share Attributable to Ordinary Equity Holders of the Parent](index=9&type=section&id=8.%20%E6%AF%8D%20%E5%85%AC%20%E5%8F%B8%20%E6%99%AE%20%E9%80%9A%20%E6%AC%8A%20%E7%9B%8A%20%E6%8C%81%20%E6%9C%89%20%E4%BA%BA%20%E6%87%89%20%E4%BD%94%20%E6%AF%8F%20%E8%82%A1%20%E7%9B%88%20%E5%88%A9) For the six months ended June 30, 2025, basic earnings per share decreased to 0.61 HK cents from 0.72 HK cents in the prior period, based on a profit of HK$2.422 million and 400 million weighted average shares Earnings Per Share | Metric | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Profit attributable to ordinary equity holders of the parent | HK$2,422,000 | HK$2,862,000 | | Weighted average number of ordinary shares in issue | 400,000,000 shares | 400,000,000 shares | | **Basic earnings per share** | **0.61 HK cents** | **0.72 HK cents** | - The Group had no potential dilutive ordinary shares in issue during the current or prior period, thus basic and diluted earnings per share are the same[26](index=26&type=chunk) [9. Trade Receivables and Bills Receivable](index=10&type=section&id=9.%20%E8%B2%BF%20%E6%98%93%20%E6%87%89%20%E6%94%B6%20%E6%AC%BE%20%E9%A0%85%20%E5%8F%8A%20%E6%87%89%20%E6%94%B6%20%E7%A5%A8%20%E6%93%9A) As of June 30, 2025, trade and bills receivable totaled HK$46.6 million, an increase from HK$38.6 million at year-end 2024, mainly due to a significant rise in bills receivable, with credit periods typically ranging from one to three months Trade Receivables and Bills Receivable | Item | As at June 30, 2025 (HK$'000) | As at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | Trade receivables | 27,869 | 53,174 | | Bills receivable | 24,517 | 5,588 | | Subtotal | 52,386 | 58,762 | | Impairment | (5,781) | (20,176) | | **Total** | **46,605** | **38,586** | - The Group's trading terms with its customers are mainly on credit, with a credit period generally of one to three months[27](index=27&type=chunk) Ageing Analysis of Trade Receivables and Bills Receivable | Ageing | As at June 30, 2025 (HK$'000) | As at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | Less than three months | 17,358 | 18,561 | | Three to six months | 20,917 | 3,830 | | Six to twelve months | 4,202 | 1,839 | | Over one year | 4,128 | 14,356 | | **Total** | **46,605** | **38,586** | [10. Trade Payables](index=11&type=section&id=10.%20%E8%B2%BF%20%E6%98%93%20%E6%87%89%20%E4%BB%98%20%E6%AC%BE%20%E9%A0%85) As of June 30, 2025, trade payables totaled HK$14.6 million, remaining stable compared to HK$14.3 million at year-end 2024; these payables are non-interest-bearing and are normally settled within 30 to 90 days Ageing Analysis of Trade Payables | Ageing | As at June 30, 2025 (HK$'000) | As at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | Within one month | 3,679 | 787 | | One to three months | 732 | 2,798 | | Over three months | 10,222 | 10,744 | | **Total** | **14,633** | **14,329** | - Trade payables are non-interest-bearing and are normally settled on 30 to 90-day terms[29](index=29&type=chunk) [11. Share Capital](index=11&type=section&id=11.%20%E8%82%A1%20%E6%9C%AC) As of June 30, 2025, the Company's issued and fully paid share capital remained unchanged from year-end 2024, consisting of 400,000,000 ordinary shares of HK$0.01 each, totaling HK$4.0 million Share Capital Composition | Item | As at June 30, 2025 (HK$'000) | As at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | Issued and fully paid ordinary shares (400,000,000 shares of HK$0.01 each) | 4,000 | 4,000 | [12. Approval of the Unaudited Interim Condensed Consolidated Financial Statements](index=11&type=section&id=12.%20%E6%89%B9%20%E5%87%86%20%E6%9C%AA%20%E7%B6%93%20%E5%AF%A9%20%E6%A0%B8%20%E4%B8%AD%20%E6%9C%9F%20%E7%B0%A1%20%E6%98%8E%20%E7%B6%9C%20%E5%90%88%20%E8%B2%A1%20%E5%8B%99%20%E5%A0%B1%20%E8%A1%A8) The unaudited interim condensed consolidated financial statements were approved and authorised for issue by the Board of Directors on August 26, 2025 - The unaudited interim condensed consolidated financial statements were approved and authorised for issue by the Board of Directors on **August 26, 2025**[31](index=31&type=chunk) [Management Discussion and Analysis](index=12&type=section&id=%E7%AE%A1%20%E7%90%86%20%E5%B1%A4%20%E8%A8%8E%20%E8%AB%96%20%E5%8F%8A%20%E5%88%86%20%E6%9E%90) [Business Review](index=12&type=section&id=%E6%A5%AD%20%E5%8B%99%20%E5%9B%9E%20%E9%A1%A7) In H1 2025, the Group faced macroeconomic challenges, resulting in a 30.3% revenue decline to HK$96.6 million and a 17.2% drop in net profit attributable to owners to HK$2.4 million, with a significant downturn in the gyro-stabilized imaging segment - The Group's performance in the first half of 2025 was challenged by macroeconomic factors including high interest rates, trade tariffs, energy prices, and geopolitical conflicts[32](index=32&type=chunk) H1 Performance Overview | Metric | For the six months ended June 30, 2025 | Y-o-Y Change | | :--- | :--- | :--- | | Revenue | Approx. HK$96.6 million | Decreased by approx. 30.3% | | Net profit attributable to owners of the parent | Approx. HK$2.4 million | Decreased by approx. 17.2% | [Business Segment Performance](index=12&type=section&id=%E6%A5%AD%20%E5%8B%99%20%E6%9D%BF%20%E5%A1%8A%20%E8%A1%A8%20%E7%8F%BE) Revenue from thermal imaging products and services decreased by 16.0%, gyro-stabilized imaging products and services plummeted by 90.8%, while general aviation products and services remained relatively stable with a slight 0.7% decline [(1) Thermal Imaging Products and Services](index=12&type=section&id=(1)%20%E7%86%B1%20%E6%88%90%20%E5%83%8F%20%E7%94%A2%20%E5%93%81%20%E5%8F%8A%20%E6%8F%90%20%E4%BE%9B%20%E6%9C%8D%20%E5%8B%99) This segment's revenue decreased by approximately 16.0% to HK$24.2 million, primarily due to reduced sales of thermal imaging products to existing customers, and it accounted for 25.1% of total Group revenue - Revenue decreased by approximately **16.0%** to approximately **HK$24.2 million**, mainly due to a decrease in revenue from the sale of thermal imaging products to existing customers[33](index=33&type=chunk) - This business segment accounted for approximately **25.1%** of the Group's revenue (prior period: 20.8%)[33](index=33&type=chunk) [(2) Gyro-stabilized Imaging Products and Services](index=13&type=section&id=(2)%20%E8%87%AA%20%E7%A9%A9%20%E5%AE%9A%20%E6%88%90%20%E5%83%8F%20%E7%94%A2%20%E5%93%81%20%E5%8F%8A%20%E6%8F%90%20%E4%BE%9B%20%E6%9C%8D%20%E5%8B%99) This segment's revenue plummeted by approximately 90.8% year-on-year to HK$3.6 million, mainly due to decreased sales of vessel-mounted gyro-stabilized imaging products, accounting for 3.7% of total Group revenue - Revenue significantly decreased year-on-year by approximately **90.8%** to approximately **HK$3.6 million**, mainly due to a decrease in sales of vessel-mounted gyro-stabilized imaging products[34](index=34&type=chunk) - This business segment accounted for approximately **3.7%** of the Group's revenue (prior period: 28.2%)[34](index=34&type=chunk) [(3) General Aviation Products and Services](index=13&type=section&id=(3)%20%E9%80%9A%20%E7%94%A8%20%E8%88%AA%20%E7%A9%BA%20%E7%94%A2%20%E5%93%81%20%E5%8F%8A%20%E6%8F%90%20%E4%BE%9B%20%E6%9C%8D%20%E5%8B%99) This segment's revenue remained relatively stable, decreasing by only 0.7% year-on-year to HK$68.8 million, and became the primary revenue source, contributing 71.2% to the Group's total revenue - Revenue remained relatively stable, decreasing by approximately **0.7%** year-on-year to approximately **HK$68.8 million**[36](index=36&type=chunk) - This business segment accounted for approximately **71.2%** of the Group's revenue (prior period: 50.0%)[36](index=36&type=chunk) [Prospects](index=14&type=section&id=%E5%89%8D%20%E6%99%AF) Amidst an uncertain macroeconomic environment with slowing global growth, high inflation, and high interest rates, the Group remains cautiously optimistic, focusing on core competencies, brand management, and expanding its market share in East and Southeast Asia through a new Malaysian subsidiary - The global economic outlook remains unpredictable, facing risks from US policy shifts, trade tensions, and geopolitical conflicts[37](index=37&type=chunk) - The World Bank forecasts global economic growth to slow to **2.3%** in 2025, a 0.4% downward revision from its January forecast[37](index=37&type=chunk) - The Group will continue to strengthen its foundation and core competencies, and develop brand management capabilities for its core businesses[38](index=38&type=chunk) - The Group plans to enhance its market presence and expand its sales network in East and Southeast Asia through its newly established subsidiary in Malaysia[38](index=38&type=chunk) [Financial Review](index=14&type=section&id=%E8%B2%A1%20%E5%8B%99%20%E5%9B%9E%20%E9%A1%A7) Total revenue decreased by 30.3%, with declines in both gross profit and gross margin, while other income grew significantly due to exchange gains; despite a sharp rise in income tax expense, profit attributable to owners remained relatively stable [Revenue](index=14&type=section&id=%E6%94%B6%20%E7%9B%8A) The Group's total revenue decreased by 30.3% year-on-year to HK$96.6 million, driven by a 16.0% drop in thermal imaging revenue and a 90.8% plunge in gyro-stabilized imaging revenue, while general aviation revenue remained stable - Total revenue decreased by approximately **30.3%** from approximately HK$138.5 million to approximately **HK$96.6 million**[39](index=39&type=chunk) - Revenue from thermal imaging products and services decreased by **16.0%** to approximately **HK$24.2 million**, mainly due to reduced demand for infrared imagers[39](index=39&type=chunk) - Revenue from gyro-stabilized imaging products and services decreased by **90.8%** to approximately **HK$3.6 million**, mainly due to reduced demand for vessel-mounted gyro-stabilized imaging products[40](index=40&type=chunk) - Revenue from general aviation products and services remained relatively stable at approximately **HK$68.8 million**[41](index=41&type=chunk) [Gross Profit and Gross Profit Margin](index=15&type=section&id=%E6%AF%9B%20%E5%88%A9%20%E5%8F%8A%20%E6%AF%9B%20%E5%88%A9%20%E7%8E%87) The Group's gross profit fell to HK$25.7 million, and the gross profit margin decreased by 7.9 percentage points to 26.6%, with margins for thermal imaging and general aviation declining due to higher costs, while the gyro-stabilized imaging margin improved - Gross profit decreased from approximately HK$47.8 million to approximately **HK$25.7 million**[42](index=42&type=chunk) - Gross profit margin decreased by approximately **7.9 percentage points** from approximately 34.5% to approximately **26.6%**[42](index=42&type=chunk) [(1) Gross Profit Margin of Thermal Imaging Products and Services](index=15&type=section&id=(1)%20%E7%86%B1%20%E6%88%90%20%E5%83%8F%20%E7%94%A2%20%E5%93%81%20%E5%8F%8A%20%E6%9C%8D%20%E5%8B%99%20%E7%9A%84%20%E6%AF%9B%20%E5%88%A9%20%E7%8E%87) The gross profit margin for thermal imaging products and services decreased from 29.5% to 23.6%, primarily due to an increase in the average cost of SF6 gas imagers and infrared imagers - The gross profit margin decreased from approximately **29.5%** to approximately **23.6%**, mainly due to an increase in the average cost of SF6 gas imagers and infrared imagers[43](index=43&type=chunk) [(2) Gross Profit Margin of Gyro-stabilized Imaging Products and Services](index=15&type=section&id=(2)%20%E8%87%AA%20%E7%A9%A9%20%E5%AE%9A%20%E6%88%90%20%E5%83%8F%20%E7%94%A2%20%E5%93%81%20%E5%8F%8A%20%E6%9C%8D%20%E5%8B%99%20%E7%9A%84%20%E6%AF%9B%20%E5%88%A9%20%E7%8E%87) The gross profit margin for gyro-stabilized imaging products and services increased from 44.1% to 50.0%, mainly due to reduced sales of lower-margin vessel-mounted gyro-stabilized imaging products to existing customers - The gross profit margin increased from approximately **44.1%** to approximately **50.0%**, mainly due to a decrease in sales of relatively lower-margin vessel-mounted gyro-stabilized imaging products to existing customers[44](index=44&type=chunk) [(3) Gross Profit Margin of General Aviation Products and Services](index=15&type=section&id=(3)%20%E9%80%9A%20%E7%94%A8%20%E8%88%AA%20%E7%A9%BA%20%E7%94%A2%20%E5%93%81%20%E5%8F%8A%20%E6%9C%8D%20%E5%8B%99%20%E7%9A%84%20%E6%AF%9B%20%E5%88%A9%20%E7%8E%87) The gross profit margin for general aviation products and services decreased from 31.2% to 26.5%, primarily due to an increase in the average cost of four-stroke engine products and engine parts - The gross profit margin decreased from approximately **31.2%** to approximately **26.5%**, mainly due to an increase in the average cost of four-stroke engine products and engine parts[45](index=45&type=chunk) [Other Income and Gains, Net](index=16&type=section&id=%E5%85%B6%20%E4%BB%96%20%E6%94%B6%20%E5%85%A5%20%E5%8F%8A%20%E6%94%B6%20%E7%9B%8A%20%E6%B7%A8%20%E9%A1%8D) Other income and gains increased by 84.1% to HK$8.1 million, primarily due to the recognition of foreign exchange gains during the period - Other income and gains increased by approximately **84.1%** from approximately HK$4.4 million to approximately **HK$8.1 million**, mainly due to the recognition of foreign exchange gains during the period[46](index=46&type=chunk) [Selling and Distribution Expenses](index=16&type=section&id=%E9%8A%B7%20%E5%94%AE%20%E5%8F%8A%20%E5%88%86%20%E9%8A%B7%20%E9%96%8B%20%E6%94%AF) Selling and distribution expenses decreased by 7.8% to HK$16.5 million, mainly due to lower staff costs resulting from reduced salaries and commissions - Selling and distribution expenses decreased by approximately **7.8%** to approximately **HK$16.5 million**, mainly due to lower staff costs from reduced salaries and commissions[47](index=47&type=chunk) [Administrative Expenses](index=16&type=section&id=%E8%A1%8C%20%E6%94%BF%20%E9%96%8B%20%E6%94%AF) Administrative expenses remained relatively stable at HK$19.5 million - Administrative expenses remained relatively stable at approximately **HK$19.5 million**[48](index=48&type=chunk) [Other Expenses](index=16&type=section&id=%E5%85%B6%20%E4%BB%96%20%E9%96%8B%20%E6%94%AF) Other expenses decreased by approximately HK$3.5 million, primarily because there were no foreign exchange losses in the current period, compared to a loss of approximately HK$3.4 million in the prior period - Other expenses decreased by approximately **HK$3.5 million**, mainly due to the absence of foreign exchange losses in the current period (compared to a loss of approximately HK$3.4 million in the prior period)[49](index=49&type=chunk) [Income Tax Expense](index=16&type=section&id=%E6%89%80%20%E5%BE%97%20%E7%A8%85%20%E9%96%8B%20%E6%94%AF) Income tax expense increased significantly by 870.0% to HK$9.7 million, mainly due to higher profit before tax and an increase in the effective tax rate from 25.5% to 80.0% - Income tax expense increased by approximately **870.0%** to approximately **HK$9.7 million**[50](index=50&type=chunk) - The increase was due to higher profit before tax and a rise in the effective tax rate from approximately **25.5%** to approximately **80.0%**[50](index=50&type=chunk) [Profit for the Period Attributable to Owners of the Parent](index=16&type=section&id=%E6%AF%8D%20%E5%85%AC%20%E5%8F%B8%20%E6%93%81%20%E6%9C%89%20%E4%BA%BA%20%E6%87%89%20%E4%BD%94%20%E6%9C%9F%20%E5%85%A7%20%E6%BA%A2%20%E5%88%A9) Profit for the period attributable to owners of the parent remained relatively stable at HK$2.4 million - Profit for the period attributable to owners of the parent remained relatively stable at approximately **HK$2.4 million** (prior period: HK$2.9 million)[51](index=51&type=chunk) [Liquidity and Financial Resources](index=17&type=section&id=%E6%B5%81%20%E5%8B%95%20%E8%B3%87%20%E9%87%91%20%E5%8F%8A%20%E8%B2%A1%20%E5%8B%99%20%E8%B3%87%20%E6%BA%90) The Group maintained a healthy liquidity position with working capital funded by internal resources, experiencing a slight decrease in net current assets and cash, while operating cash flow turned positive and investing cash outflow increased - The Group maintained a **healthy liquidity position**, with working capital primarily funded by internal resources[52](index=52&type=chunk) - Net current assets were approximately **HK$301.0 million** (December 31, 2024: HK$306.5 million)[52](index=52&type=chunk) - Cash and cash equivalents were approximately **HK$205.9 million**, a decrease of approximately HK$46.6 million from year-end 2024, and were mainly denominated in USD[52](index=52&type=chunk) - Net cash from operating activities was approximately **HK$10.0 million** (prior period: net cash used of approx. HK$16.3 million), mainly from decreases in inventories and trade receivables[53](index=53&type=chunk) - Net cash used in investing activities was approximately **HK$54.9 million** (prior period: net cash generated of approx. HK$38.9 million), mainly for investment in time deposits[53](index=53&type=chunk) - Net cash used in financing activities was approximately **HK$3.2 million**, mainly for the principal portion of lease payments[53](index=53&type=chunk) [Contingent Liabilities](index=17&type=section&id=%E6%88%96%20%E7%84%B6%20%E8%B2%A0%20%E5%82%B5) As of June 30, 2025, the Group had no significant contingent liabilities - As at June 30, 2025, the Group had **no significant contingent liabilities**[54](index=54&type=chunk) [Capital Structure](index=17&type=section&id=%E8%B3%87%20%E6%9C%AC%20%E6%9E%B6%20%E6%A7%8B) There were no significant changes in the Company's capital structure during the six months ended June 30, 2025 - During the six months ended June 30, 2025, there were **no significant changes** in the Company's capital structure[55](index=55&type=chunk) [Foreign Exchange Risk](index=17&type=section&id=%E5%A4%96%20%E5%8C%AF%20%E9%A2%A8%20%E9%9A%AA) The Group faces transactional currency risk from business transactions and costs denominated in USD and EUR, as well as from assets and liabilities denominated in USD, and closely monitors exchange rate movements to manage this risk - The Group is exposed to transactional currency risk primarily from business transactions and costs of sales denominated in **USD and EUR**[56](index=56&type=chunk) - Foreign currency risk also arises from assets and liabilities denominated in **USD**[56](index=56&type=chunk) - The Group closely monitors exchange rate movements to manage its foreign currency risk[56](index=56&type=chunk) [Pledge of Assets](index=18&type=section&id=%E8%B3%87%20%E7%94%A2%20%E6%8A%B5%20%E6%8A%BC) As of June 30, 2025, the Group had not pledged any of its assets - As at June 30, 2025, the Group had **not pledged any of its assets**[57](index=57&type=chunk) [Gearing Ratio](index=18&type=section&id=%E8%B3%87%20%E7%94%A2%20%E8%B2%A0%20%E5%82%B5%20%E6%AF%94%20%E7%8E%87) The gearing ratio is not applicable to the Group as it had no bank borrowings - As the Group had **no bank borrowings**, the gearing ratio is not applicable[58](index=58&type=chunk) [Reorganisation and Material Investments](index=18&type=section&id=%E9%87%8D%20%E7%B5%84%20%E5%8F%8A%20%E9%87%8D%20%E5%A4%A7%20%E6%8A%95%20%E8%B3%87) During the period, the Group did not have any reorganisation or material investments - During the period, the Group had **no reorganisation or material investments**[59](index=59&type=chunk) [Employees and Remuneration Policies](index=18&type=section&id=%E5%83%B1%20%E5%93%A1%20%E5%8F%8A%20%E8%96%AA%20%E9%85%AC%20%E6%94%BF%20%E7%AD%96) As of June 30, 2025, the Group had 140 employees with total staff costs of approximately HK$26.3 million, and its remuneration policy aligns with relevant laws, market conditions, and employee performance - As at June 30, 2025, the Group had a total of **140 employees** (December 31, 2024: 142)[60](index=60&type=chunk) - During the period, the Group's total staff costs (excluding directors' and chief executive's remuneration) were approximately **HK$26.3 million** (prior period: HK$30.5 million)[60](index=60&type=chunk) - The remuneration policy complies with relevant laws, market conditions, and employee performance[60](index=60&type=chunk) [Other Information](index=18&type=section&id=%E5%85%B6%20%E4%BB%96%20%E8%B3%87%20%E6%96%99) [Compliance with the Corporate Governance Code](index=18&type=section&id=%E9%81%B5%20%E5%AE%88%20%E4%BC%81%20%E6%A5%AD%20%E7%AE%A1%20%E6%B2%BB%20%E5%AE%88%20%E5%89%87) The Company has complied with all applicable code provisions of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules of The Stock Exchange of Hong Kong Limited for the six months ended June 30, 2025 - The Company has complied with all applicable code provisions of the Corporate Governance Code in Appendix C1 of the Listing Rules throughout the period[61](index=61&type=chunk) [Model Code for Securities Transactions](index=19&type=section&id=%E8%AD%89%20%E5%88%B8%20%E4%BA%A4%20%E6%98%93%20%E7%9A%84%20%E6%A8%99%20%E6%BA%96%20%E5%AE%88%20%E5%89%87) The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules, and all Directors have confirmed their compliance with the code during the period - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[62](index=62&type=chunk) - All Directors have confirmed their compliance with the required standards set out in the Model Code throughout the period[62](index=62&type=chunk) [Audit Committee and Review of Interim Results](index=19&type=section&id=%E5%AF%A9%20%E6%A0%B8%20%E5%A7%94%20%E5%93%A1%20%E6%9C%83%20%E5%8F%8A%20%E5%AF%A9%20%E9%96%B1%20%E4%B8%AD%20%E6%9C%9F%20%E6%A5%AD%20%E7%B8%BE) The Audit Committee has reviewed the Group's unaudited interim condensed consolidated financial statements for the six months ended June 30, 2025, and considers them to be prepared in accordance with appropriate accounting policies and applicable Listing Rules with adequate disclosure - The Audit Committee comprises three independent non-executive Directors, with Ms. Yang Xiaofu as the chairlady[63](index=63&type=chunk) - The Audit Committee has reviewed this interim results announcement and considers it to be prepared in accordance with appropriate accounting policies and applicable Listing Rules, with adequate disclosure made[63](index=63&type=chunk) [Interim Dividend](index=19&type=section&id=%E4%B8%AD%20%E6%9C%9F%20%E8%82%A1%20%E6%81%AF) The Board has resolved to declare an interim dividend of 5.40 HK cents per share, totaling approximately HK$21.6 million, payable on or before September 26, 2025, to shareholders on the register as of September 17, 2025 - The Board has resolved to declare an interim dividend of **5.40 HK cents** per share (2024 interim: Nil), totaling approximately **HK$21,600,000**[64](index=64&type=chunk) - The interim dividend is expected to be paid on or before **September 26, 2025**, with a record date of **September 17, 2025**[64](index=64&type=chunk) [Closure of Register of Members](index=19&type=section&id=%E6%9A%AB%20%E5%81%9C%20%E8%BE%A6%20%E7%90%86%20%E8%82%A1%20%E4%BB%BD%20%E9%81%8E%20%E6%88%B6%20%E7%99%BB%20%E8%A8%98%20%E6%89%8B%20%E7%BA%8C) To qualify for the interim dividend, the register of members will be closed from September 15 to September 17, 2025, and all transfer documents must be lodged by 4:00 p.m. on September 12, 2025 - The register of members will be closed from **Monday, September 15, 2025 to Wednesday, September 17, 2025**[65](index=65&type=chunk) - To qualify for the interim dividend, all transfer documents must be lodged with the Hong Kong share registrar no later than **4:00 p.m. on Friday, September 12, 2025**[65](index=65&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=20&type=section&id=%E8%B3%BC%20%E8%B2%B7%E3%80%81%E5%87%BA%20%E5%94%AE%20%E6%88%96%20%E8%B4%96%20%E5%9B%9E%20%E6%9C%AC%20%E5%85%AC%20%E5%8F%B8%20%E4%B8%8A%20%E5%B8%82%20%E8%AD%89%20%E5%88%B8) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the period - During the period, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities[66](index=66&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=20&type=section&id=%E5%88%8A%20%E7%99%BC%20%E4%B8%AD%20%E6%9C%9F%20%E6%A5%AD%20%E7%B8%BE%20%E5%85%AC%20%E5%91%8A%20%E5%8F%8A%20%E4%B8%AD%20%E6%9C%9F%20%E5%A0%B1%20%E5%91%8A) The interim results announcement for the six months ended June 30, 2025, is published on the websites of the HKEX and the Company, and the 2025 Interim Report will be dispatched to shareholders and made available online in due course - The interim results announcement is published on the HKEX website at www.hkexnews.hk and the Company's website at www.peiport.com[67](index=67&type=chunk) - The 2025 Interim Report containing all required information will be dispatched to shareholders and made available on the above websites in due course[67](index=67&type=chunk) [Appreciation](index=20&type=section&id=%E8%87%B4%20%E8%AC%9D) The Board expresses its sincere gratitude to the management, staff, shareholders, customers, suppliers, business partners, and other stakeholders - The Board expresses its sincere gratitude to the Group's management and staff for their hard work and dedication, and to shareholders, customers, suppliers, business partners, and other stakeholders for their continuous support[68](index=68&type=chunk)