（股份代號：6162） （於開曼群島註冊成立的有限公司） 董事名單與其角色和職能 自2025年8月31日起生效，中國天瑞汽車內飾件有限公司董事會（「董事會」）成員載列 如下： 執行董事 張靜蓉女士 中國天瑞汽車內飾件有限公司 CHINA TIANRUI AUTOMOTIVE INTERIORS CO., LTD 朱紅強先生 周根樹先生 陳耿先生 董事會已設立三個委員會且該等委員會的成員載列如下： | | 董事委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | --- | | 董事 | | | | | | 張靜蓉女士 | | – | 成員 | 成員 | | 朱紅強先生 | | 成員 | 主席 | – | | 周根樹先生 | | 主席 | 成員 | 主席 | | 陳耿先生 | | 成員 | – | 成員 | 附註： 主席： 相關董事委員會主席 成員： 相關董事委員會成員 中國，西安，2025年8月31日 獨立非執行董事 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國天瑞汽車內飾件有限公司 CHINA TIANRUI AUTOMOTIVE INTERIORS CO., LTD （股份代號：6162） （於開曼群島註冊成立的有限公司） 主席、執行董事兼行政總裁辭任 行政總裁、授權代表及提名委員會組成變更 本公告由中國天瑞汽車內飾件有限公司（「本公司」，連同其附屬公司合稱「本集團」）根 據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條以及證劵及期貨條例 （香港法例第571章）第XIVA部之內幕消息條文（定義見上市規則）而發出。 行政總裁、授權代表及提名委員會組成變更 董事會進一步宣佈，張女士已獲委任為本公司臨時行政總裁、授權代表以及提名委員會 成員，獨立非執行董事周根樹先生（「周先生」）已獲委任為提名委員會主席，自2025年8 月31日起生效。 張女士及周先生的簡歷列載於本公司於2025年4月28日刊發的2024年年報。 於本公告日期，根據證券及期 ...

Core Viewpoint - Tianrui Automotive Interior (06162) reported a mid-year performance for 2025, showing a revenue of approximately 138 million, representing a year-on-year growth of 40.52%. However, the company recorded a loss attributable to equity shareholders of 5.986 million, an increase of 62.84% compared to the previous year, with a loss per share of 0.3 cents [1] Summary by Category Financial Performance - Revenue for the first half of 2025 was approximately 138 million, reflecting a year-on-year increase of 40.52% [1] - Loss attributable to equity shareholders was 5.986 million, which is a 62.84% increase compared to the same period last year [1] - Loss per share was reported at 0.3 cents [1] Business Operations - The revenue growth was primarily driven by the mass production of component products for passenger vehicles [1]

Group 1 - The core viewpoint of the article is that Tianrui Automotive Interior (06162) reported a significant increase in revenue for the first half of 2025, amounting to approximately 138 million, representing a year-on-year growth of 40.52% [1] - The increase in revenue is primarily attributed to the mass production of components for passenger vehicle business [1] - The company reported a loss attributable to equity shareholders of 5.986 million, which is a year-on-year increase of 62.84%, with a loss per share of 0.3 cents [1]

[Performance Highlights](index=1&type=section&id=%E6%A5%AD%E7%B8%BE%E6%91%98%E8%A6%81) This section summarizes key financial performance indicators for the six months ended June 30, 2025 As of June 30, 2025, Six-Month Performance Highlights | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Change | | :--- | :--- | :--- | :--- | | Revenue | 138,353 | 98,461 | 40.52% | | Gross Profit | 19,211 | 15,796 | 21.62% | | Gross Profit Margin | 13.9% | 16.0% | –2.1 percentage points | | Loss attributable to equity holders | (5,986) | (3,676) | 62.84% | | Loss per share (RMB cents) | (0.30) | (0.18) | 66.67% | [Consolidated Statement of Profit or Loss](index=2&type=section&id=%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E8%A1%A8) This statement presents the detailed breakdown of revenues, costs, and expenses leading to the loss for the period For the Six Months Ended June 30, 2025, Consolidated Statement of Profit or Loss | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 138,353 | 98,461 | | Cost of Sales | (119,142) | (82,665) | | Gross Profit | 19,211 | 15,796 | | Other Income | 2,065 | 1,046 | | Selling Expenses | (4,508) | (1,697) | | Administrative Expenses | (18,653) | (15,193) | | Reversal/(Provision) for impairment of trade and other receivables | 83 | (1,561) | | Operating Loss | (1,802) | (1,609) | | Finance Costs | (4,709) | (3,366) | | Loss Before Tax | (6,511) | (4,975) | | Income Tax | 525 | 1,299 | | Loss for the period attributable to equity holders of the Company | (5,986) | (3,676) | | Basic and diluted loss per share (RMB cents) | (0.30) | (0.18) | [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=%E7%B6%9C%E5%90%88%E6%90%8D%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) This statement shows the loss for the period and other comprehensive income items, leading to total comprehensive income For the Six Months Ended June 30, 2025, Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Loss for the period | (5,986) | (3,676) | | Exchange differences on translation to the Group's presentation currency | (200) | 68 | | Total comprehensive income for the period attributable to equity holders of the Company | (6,186) | (3,608) | [Consolidated Statement of Financial Position](index=4&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) This statement provides a snapshot of the company's assets, liabilities, and equity at specific reporting dates As of June 30, 2025, Consolidated Statement of Financial Position | Indicator | 2025 June 30 (RMB thousands) | 2024 December 31 (RMB thousands) | | :--- | :--- | :--- | | Non-current Assets | 196,590 | 201,351 | | Current Assets | 398,489 | 422,211 | | Current Liabilities | 318,219 | 337,942 | | Net Current Assets | 80,270 | 84,269 | | Non-current Liabilities | 35,448 | 38,022 | | Net Assets | 241,412 | 247,598 | | Total Equity | 241,412 | 247,598 | [Notes to the Unaudited Interim Financial Report](index=6&type=section&id=%E6%9C%AA%E7%B6%93%E5%AF%A9%E6%A0%B8%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E5%A0%B1%E5%91%8A%E9%99%84%E8%A8%BB) This section provides detailed notes on company information, financial report preparation, accounting policy changes, revenue, segment reporting, income, loss before tax, income tax, loss per share, receivables, payables, and dividends [1 Company Information](index=6&type=section&id=1%20Company%20Information) China Tianrui Automotive Interior Parts Co., Ltd., incorporated in the Cayman Islands in 2017 and listed in Hong Kong in 2019, specializes in manufacturing and selling automotive decorative parts - The company was incorporated as an exempted company in the Cayman Islands on **April 27, 2017**[8](index=8&type=chunk) - The company's shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on **January 15, 2019**[8](index=8&type=chunk) - The Group is principally engaged in the manufacture and sale of automotive interior and exterior decorative parts[8](index=8&type=chunk) [2 Basis of Preparation](index=6&type=section&id=2%20Basis%20of%20Preparation) This interim financial report is prepared under Listing Rules and IAS 34, using 2024 annual accounting policies and management's judgments and estimates - This interim financial report has been prepared in accordance with the applicable disclosure provisions of the Listing Rules of the Stock Exchange and International Accounting Standard 34[9](index=9&type=chunk) - The interim financial report has been prepared on the same accounting policies adopted in the 2024 annual financial statements, except for the changes in accounting policies expected to be reflected in the 2025 annual financial statements[9](index=9&type=chunk) - The preparation of an interim financial report in conformity with IAS 34 requires management to make judgments, estimates, and assumptions[9](index=9&type=chunk) [3 Changes in Accounting Policies](index=7&type=section&id=3%20Changes%20in%20Accounting%20Policies) Modifications to IFRS 21 were applied, but had no significant impact due to the Group's lack of foreign currency transactions or non-convertibility issues, and no other new standards were adopted - The Group has applied the amendments to **IFRS 21 — The Effects of Changes in Foreign Exchange Rates — Non-exchangeability** issued by the International Accounting Standards Board to the current accounting period of this interim financial report[11](index=11&type=chunk) - These amendments have **no significant impact** on this interim report as the Group has not entered into any foreign currency transactions where the foreign currency cannot be exchanged into another currency[11](index=11&type=chunk) - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period[12](index=12&type=chunk) [4 Revenue and Segment Reporting](index=7&type=section&id=4%20Revenue%20and%20Segment%20Reporting) The Group manufactures and sells automotive decorative parts, managing two segments: heavy-duty truck and passenger vehicle, with revenue primarily from China, categorized by product and recognition timing [4 (a) Revenue](index=7&type=section&id=4%20(a)%20Revenue) Total revenue for the six months ended June 30, 2025, was **RMB 138,353 thousand**, primarily from heavy-duty truck and passenger vehicle decorative parts sales Revenue from contracts with customers by major products | Major Products | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Sales of heavy-duty truck interior and exterior decorative parts | 98,731 | 90,942 | | Sales of passenger vehicle interior and exterior decorative parts and related molds | 39,622 | 7,519 | | **Total** | **138,353** | **98,461** | - Customer B contributed **RMB 60,931 thousand** in revenue in the first half of 2025, making it the Group's largest customer[15](index=15&type=chunk) [4 (b) Segment Reporting](index=8&type=section&id=4%20(b)%20Segment%20Reporting) The Group's two segments, heavy-duty truck and passenger vehicle decorative parts, are evaluated by gross profit, which was **RMB 15,243 thousand** and **RMB 3,969 thousand** respectively as of June 30, 2025 - The Group manages its business by product categories, divided into two reportable segments: **heavy-duty truck interior and exterior decorative parts** and **passenger vehicle interior and exterior decorative parts**[16](index=16&type=chunk)[18](index=18&type=chunk) - The performance of the reportable segments is measured by gross profit, with no inter-segment sales occurring[17](index=17&type=chunk) Gross profit from reportable segments | Segment | 2025 Gross Profit (RMB thousands) | 2024 Gross Profit (RMB thousands) | | :--- | :--- | :--- | | Heavy-duty truck interior and exterior decorative parts | 15,243 | 15,714 | | Passenger vehicle interior and exterior decorative parts and related molds | 3,969 | 82 | | **Total reportable segment gross profit** | **19,211** | **15,796** | [5 Other Income](index=10&type=section&id=5%20Other%20Income) Other income for the six months ended June 30, 2025, grew **110.8%** to **RMB 2,065 thousand**, driven mainly by increased government grants Details of Other Income | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Government grants (including amortization of deferred income) | 1,639 | 535 | | Net gain on disposal of scrap materials | – | 403 | | Net foreign exchange gain | 143 | – | | Interest income | 283 | 108 | | **Total** | **2,065** | **1,046** | - Government grants increased from **RMB 535 thousand** in 2024 to **RMB 1,639 thousand** in 2025, which is the primary reason for the growth in other income[22](index=22&type=chunk) [6 Loss Before Tax](index=11&type=section&id=6%20Loss%20Before%20Tax) Loss before tax for the six months ended June 30, 2025, was **RMB 6,511 thousand**, mainly due to higher finance, R&D, and inventory costs [6 (a) Finance Costs](index=11&type=section&id=6%20(a)%20Finance%20Costs) Finance costs for the six months ended June 30, 2025, rose **39.9%** to **RMB 4,709 thousand**, driven by increased interest on bank and other borrowings Details of Finance Costs | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Interest expense on bank and other borrowings | 4,644 | 3,289 | | Interest expense on lease liabilities | 65 | 77 | | **Total** | **4,709** | **3,366** | [6 (b) Other Items](index=11&type=section&id=6%20(b)%20Other%20Items) Depreciation and amortization slightly decreased, but R&D and inventory costs significantly increased for the six months ended June 30, 2025, impacting loss before tax Details of Other Items | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Depreciation and amortization | 15,097 | 16,232 | | Research and development costs | 7,311 | 3,328 | | Cost of inventories | 119,142 | 82,665 | - Research and development costs significantly increased from **RMB 3,328 thousand** in 2024 to **RMB 7,311 thousand** in 2025[24](index=24&type=chunk) [7 Income Tax](index=11&type=section&id=7%20Income%20Tax) Income tax credit for the six months ended June 30, 2025, decreased to **RMB 525 thousand** due to reconciliation adjustments and temporary differences, with Chinese subsidiaries benefiting from tax incentives Details of Income Tax | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Current tax (provision for the period) | (146) | – | | Current tax (differences from annual reconciliation) | 707 | – | | Deferred tax (origination and reversal of temporary differences) | (36) | 1,299 | | **Total** | **525** | **1,299** | - Xi'an Tianrui Automotive Interior Parts Co., Ltd. enjoys a **15% preferential income tax rate** as a high-tech enterprise from 2022 to 2025[26](index=26&type=chunk) - Baoji Ruitong Automotive Interior Co., Ltd. benefits from a **15% preferential China enterprise income tax rate** under the Western Development Plan from 2021 to 2030[26](index=26&type=chunk) [8 Loss Per Share](index=13&type=section&id=8%20Loss%20Per%20Share) Basic and diluted loss per share for the six months ended June 30, 2025, expanded to **RMB 0.30 cents**, driven by increased loss attributable to equity holders [8 (a) Basic Loss Per Share](index=13&type=section&id=8%20(a)%20Basic%20Loss%20Per%20Share) Basic loss per share for the six months ended June 30, 2025, was **RMB 0.30 cents**, based on a **RMB 5,986 thousand** loss and **2,000,000,000** shares Calculation of Basic Loss Per Share | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Loss attributable to equity holders (RMB thousands) | 5,986 | 3,676 | | Weighted average number of ordinary shares in issue (shares) | 2,000,000,000 | 2,000,000,000 | | Basic loss per share (RMB cents) | (0.30) | (0.18) | [8 (b) Diluted Loss Per Share](index=13&type=section&id=8%20(b)%20Diluted%20Loss%20Per%20Share) No potential dilutive shares existed for the six months ended June 30, 2025 and 2024, resulting in diluted loss per share equaling basic loss per share - There were no potential dilutive shares for the six months ended **June 30, 2025 and 2024**[28](index=28&type=chunk) [9 Trade and Bills Receivables](index=13&type=section&id=9%20Trade%20and%20Bills%20Receivables) Total trade and bills receivables increased to **RMB 222,681 thousand** as of June 30, 2025, with the largest portion due within three months Trade and Bills Receivables | Item | 2025 June 30 (RMB thousands) | 2024 December 31 (RMB thousands) | | :--- | :--- | :--- | | Trade receivables (net of loss allowance) | 202,134 | 190,842 | | Bills receivables | 20,547 | 14,048 | | **Total** | **222,681** | **204,890** | Ageing analysis of trade and bills receivables | Ageing | 2025 June 30 (RMB thousands) | 2024 December 31 (RMB thousands) | | :--- | :--- | :--- | | Within 3 months | 102,521 | 99,747 | | 3 to 6 months | 69,907 | 49,081 | | 6 to 12 months | 50,253 | 56,062 | | **Total** | **222,681** | **204,890** | [10 Trade and Bills Payables](index=14&type=section&id=10%20Trade%20and%20Bills%20Payables) Total trade and bills payables slightly increased to **RMB 132,117 thousand** as of June 30, 2025, driven by higher trade payables despite fewer bills payables Trade and Bills Payables | Item | 2025 June 30 (RMB thousands) | 2024 December 31 (RMB thousands) | | :--- | :--- | :--- | | Trade payables | 132,117 | 97,314 | | Bills payables | – | 33,823 | | **Total** | **132,117** | **131,137** | Ageing analysis of trade and bills payables | Ageing | 2025 June 30 (RMB thousands) | 2024 December 31 (RMB thousands) | | :--- | :--- | :--- | | Within 3 months | 72,747 | 72,966 | | 3 to 6 months | 31,575 | 29,663 | | 6 to 12 months | 20,423 | 15,322 | | Over 1 year | 7,372 | 13,186 | | **Total** | **132,117** | **131,137** | [11 Dividends](index=14&type=section&id=11%20Dividends) No interim dividends were paid or proposed for the six months ended June 30, 2025 - No dividends were paid or proposed for the six months ended **June 30, 2025**[32](index=32&type=chunk) [Management Discussion and Analysis](index=15&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) Management reviews H1 2025 automotive industry trends, company performance, financial changes, liquidity, capital structure, risk management, and future strategies, highlighting significant passenger vehicle growth [Industry Overview](index=15&type=section&id=%E8%A1%8C%E6%A5%AD%E6%A6%82%E8%A7%88) H1 2025 saw overall automotive industry growth, with slight heavy-duty truck and steady passenger vehicle market increases, but heightened competition and slower consumption created operational pressure - In the first half of 2025, the automotive industry showed an overall growth trend, with a slight increase in heavy-duty truck sales and steady growth in passenger vehicle sales[33](index=33&type=chunk) - Intensified industry competition and slowing domestic consumption growth led to significant operational pressure for enterprises[33](index=33&type=chunk) [Business Review](index=15&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) As Northwest China's largest heavy-duty truck interior parts manufacturer, the company achieved significant H1 2025 revenue growth, primarily from explosive passenger vehicle decorative parts sales - The Group has developed into the **largest heavy-duty truck interior decorative parts manufacturer in Northwest China**, holding a leading market position[34](index=34&type=chunk) Revenue by product category | Product Category | 2025 (RMB thousands) | 2025 (%) | 2024 (RMB thousands) | 2024 (%) | | :--- | :--- | :--- | :--- | :--- | | Heavy-duty truck interior and exterior decorative parts | 98,731 | 71.4 | 90,942 | 92.4 | | Passenger vehicle interior and exterior decorative parts and related molds | 39,622 | 28.6 | 7,519 | 7.6 | | **Total** | **138,353** | **100.0** | **98,461** | **100.0** | [Revenue from Sales of Heavy-Duty Truck Interior and Exterior Decorative Parts](index=15&type=section&id=%E8%87%AA%E9%87%8D%E5%9E%8B%E5%8D%A1%E8%BB%8A%E8%A3%9D%E9%A3%BE%E9%9B%B6%E9%83%A8%E4%BB%B6%E9%8A%B7%E5%94%AE%E7%94%A2%E7%94%9F%E4%B9%8B%E6%94%B6%E5%85%A5) Heavy-duty truck decorative parts sales revenue grew **8.6%** to **RMB 98.7 million** for the six months ended June 30, 2025, driven by increased market sales volume Heavy-duty truck interior and exterior decorative parts sales revenue | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | 98.7 | 90.9 | 8.6% | - The revenue growth was primarily due to an increase in sales volume in the heavy-duty truck market[35](index=35&type=chunk) [Revenue from Sales of Passenger Vehicle Interior and Exterior Decorative Parts and Related Molds](index=16&type=section&id=%E8%87%AA%E4%B9%97%E7%94%A8%E8%BB%8A%E8%A3%9D%E9%A3%BE%E9%9B%B6%E9%83%A8%E4%BB%B6%E5%8F%8A%E7%9B%B8%E9%97%9C%E6%A8%A1%E5%85%B7%E9%8A%B7%E5%94%AE%E7%94%A2%E7%94%9F%E4%B9%8B%E6%94%B6%E5%85%A5) Passenger vehicle decorative parts and molds sales revenue surged **428.0%** to **RMB 39.6 million** for the six months ended June 30, 2025, driven by new product mass production Passenger vehicle interior and exterior decorative parts and related molds sales revenue | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | 39.6 | 7.5 | 428.0% | - The increase in revenue was primarily due to the mass production of newly developed products during the period[36](index=36&type=chunk) [Financial Review](index=16&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) H1 2025 revenue grew **40.5%**, but gross margin declined due to higher labor costs and lower product prices, while increased operating and finance costs expanded the period's loss [Revenue](index=16&type=section&id=%E6%94%B6%E5%85%A5) Revenue for the six months ended June 30, 2025, increased **40.5%** to **RMB 138.4 million**, primarily driven by mass production of passenger vehicle components Total Revenue | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Total Revenue | 138.4 | 98.5 | 40.5% | - The revenue growth was primarily due to the mass production of passenger vehicle business components[37](index=37&type=chunk) [Gross Profit and Gross Profit Margin](index=16&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit increased **21.5%** to **RMB 19.2 million**, but gross profit margin declined **2.1 percentage points** to **13.9%** due to higher labor costs and lower product prices Gross Profit and Gross Profit Margin | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Gross Profit (RMB millions) | 19.2 | 15.8 | 21.5% | | Gross Profit Margin | 13.9% | 16.0% | -2.1 percentage points | - The decrease in gross profit margin was primarily due to increased labor costs and decreased prices for some products[38](index=38&type=chunk) [Other Income](index=16&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5) Other income for the six months ended June 30, 2025, increased **110.0%** to **RMB 2.1 million** Other Income | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Other Income | 2.1 | 1.0 | 110.0% | [Selling and Distribution Expenses](index=16&type=section&id=%E9%8A%B7%E5%94%AE%E5%8F%8A%E5%88%86%E9%8A%B7%E9%96%8B%E6%94%AF) Selling and distribution expenses for the six months ended June 30, 2025, surged **164.7%** to **RMB 4.5 million**, driven by increased sales staff, wages, and marketing costs Selling and Distribution Expenses | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Selling and Distribution Expenses | 4.5 | 1.7 | 164.7% | - The increase was primarily due to an increase in the number of sales personnel, higher wages for sales personnel, and increased product marketing expenses[40](index=40&type=chunk) [Administrative Expenses](index=16&type=section&id=%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) Administrative expenses for the six months ended June 30, 2025, increased **23.0%** to **RMB 18.7 million**, primarily due to higher research and development costs Administrative Expenses | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Administrative Expenses | 18.7 | 15.2 | 23.0% | - The increase was primarily due to increased research and development expenses[41](index=41&type=chunk) [Finance Costs](index=17&type=section&id=%E8%B2%A1%E5%8B%99%E6%88%90%E6%9C%AC) Finance costs for the six months ended June 30, 2025, increased **38.2%** to **RMB 4.7 million**, primarily due to higher bank and other borrowings Finance Costs | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change | | :--- | :--- | :--- | :--- | | Finance Costs | 4.7 | 3.4 | 38.2% | - The increase was primarily due to an increase in bank and other borrowings[42](index=42&type=chunk) [Income Tax Expense](index=17&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax credit for the six months ended June 30, 2025, decreased to approximately **RMB 0.5 million**, mainly due to annual income tax reconciliation adjustments Income Tax Credit | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | | :--- | :--- | :--- | | Income Tax Credit | 0.5 | 1.3 | - The income tax credit was primarily due to adjustments for annual income tax reconciliation differences during the period[43](index=43&type=chunk) [Loss for the Period](index=17&type=section&id=%E6%9C%9F%E5%85%A7%E虧%E6%90%8D) Loss for the six months ended June 30, 2025, expanded to **RMB 6.0 million**, primarily due to costs and expenses increasing faster than revenue Loss for the Period | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | | :--- | :--- | :--- | | Loss for the Period | 6.0 | 3.7 | [Liquidity, Financial Resources and Capital Structure](index=17&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90%E5%8F%8A%E8%B3%87%E6%9C%AC%E6%9E%B6%E6%A7%8B) Business operations are funded by cash and bank borrowings; as of June 30, 2025, cash decreased, borrowings slightly increased, and the gearing ratio rose to **68.8%** - The Group's business operations are primarily funded by cash generated from operating activities and bank and other borrowings[45](index=45&type=chunk) Cash and Cash Equivalents | Indicator | 2025 June 30 (RMB millions) | 2024 December 31 (RMB millions) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 83.6 | 95.5 | [Bank and Other Borrowings](index=17&type=section&id=%E9%8A%80%E8%A1%8C%E5%8F%8A%E5%85%B6%E4%BB%96%E8%B2%B8%E6%AC%BE) Total bank and other borrowings increased to **RMB 166.1 million** as of June 30, 2025, largely guaranteed by third parties or the ultimate controlling party, and partly by receivables, fixed assets, and bank deposits Bank and Other Borrowings | Indicator | 2025 June 30 (RMB millions) | 2024 December 31 (RMB millions) | | :--- | :--- | :--- | | Total bank and other borrowings | 166.1 | 163.7 | - Approximately **RMB 125.4 million** of the borrowings were guaranteed by third parties or the ultimate controlling party of the Company or its subsidiaries[46](index=46&type=chunk) - Approximately **RMB 36.9 million** of bank and other borrowings were secured by trade and bills receivables, property, plant and equipment, and bank deposits[46](index=46&type=chunk) [Gearing Ratio](index=17&type=section&id=%E8%B3%87%E6%9C%AC%E8%B2%A0%E5%82%B5%E6%AF%94%E7%8E%87) The gearing ratio increased to **68.8%** as of June 30, 2025, from **66.1%** on December 31, 2024, reflecting higher debt relative to equity Gearing Ratio | Indicator | 2025 June 30 | 2024 December 31 | | :--- | :--- | :--- | | Gearing Ratio | 68.8% | 66.1% | [Pledged Assets](index=18&type=section&id=%E5%B7%B2%E6%8A%B5%E6%8A%BC%E8%B3%87%E7%94%A2) Total pledged assets significantly decreased to **RMB 41,424 thousand** as of June 30, 2025, mainly due to lower pledged property, plant, equipment, and receivables Pledged Assets | Item | 2025 June 30 (RMB thousands) | 2024 December 31 (RMB thousands) | | :--- | :--- | :--- | | Property, Plant and Equipment | 22,255 | 85,071 | | Trade and Bills Receivables | 8,041 | 14,096 | | Bank deposits | 11,128 | 10,880 | | **Total** | **41,424** | **110,047** | [Capital Expenditure](index=18&type=section&id=%E8%B3%87%E6%9C%AC%E9%96%8B%E6%94%AF) Capital expenditure for the six months ended June 30, 2025, was approximately **RMB 7.13 million**, mainly for new plant and equipment, a decrease from the prior period Capital Expenditure | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | | :--- | :--- | :--- | | Capital Expenditure | 7.13 | 9.41 | - Capital expenditure was primarily related to the construction of new plants and the acquisition of new machinery and equipment[49](index=49&type=chunk) [Capital Commitments](index=18&type=section&id=%E8%B3%87%E6%9C%AC%E6%89%BF%E6%93%94) Capital commitments for property, plant, and equipment increased to **RMB 35.8 million** as of June 30, 2025 Capital Commitments | Indicator | 2025 June 30 (RMB millions) | 2024 December 31 (RMB millions) | | :--- | :--- | :--- | | Commitments for property, plant and equipment | 35.8 | 25.5 | [Contingent Liabilities](index=18&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of June 30, 2025, the Group had no significant contingent liabilities - As of **June 30, 2025**, the Group had no significant contingent liabilities[51](index=51&type=chunk) [RMB Exchange Rate Fluctuations and Foreign Exchange Risk](index=18&type=section&id=RMB%20Exchange%20Rate%20Fluctuations%20and%20Foreign%20Exchange%20Risk) With most business and all bank borrowings in RMB, the Group faces no significant foreign exchange risk, and the Board anticipates no material impact from exchange rate fluctuations - The vast majority of the Group's business and all bank borrowings are transacted and accounted for in RMB, thus posing **no significant foreign exchange fluctuation risk**[52](index=52&type=chunk) - The Board does not anticipate that RMB exchange rate fluctuations and other foreign currency exchange rate fluctuations will have a **material impact** on the Group's business or results of operations[52](index=52&type=chunk) [Material Investments Held, Material Acquisitions and Disposals](index=19&type=section&id=Material%20Investments%20Held%2C%20Material%20Acquisitions%20and%20Disposals) For the six months ended June 30, 2025, the Group had no material investments, acquisitions, or disposals of subsidiaries or associates - For the six months ended **June 30, 2025**, the Group had no material investments held or material acquisitions and disposals of subsidiaries and associates[53](index=53&type=chunk) [Interim Dividends](index=19&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board does not recommend any interim dividend payment for the six months ended June 30, 2025 - The Board of Directors of the Company does not recommend the payment of any interim dividend for the six months ended **June 30, 2025**[54](index=54&type=chunk) [Employees and Remuneration Policy](index=19&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of June 30, 2025, employee count increased to **396**, with higher staff costs; remuneration policy focuses on performance, qualifications, market levels, training, and competitive compensation Number of Employees and Staff Costs | Indicator | 2025 June 30 | 2024 June 30 | | :--- | :--- | :--- | | Number of full-time employees | 396 | 357 | | Total staff costs (RMB millions) | 27.59 | 18.7 | - The Group's remuneration policy rewards employees and executives based on their performance, qualifications, demonstrated abilities, and comparable market levels[55](index=55&type=chunk) - The Group places great emphasis on employee training and offers competitive remuneration packages to retain excellent employees[55](index=55&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=19&type=section&id=%E8%B3%BC%E5%85%A5%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) Neither the Company nor its subsidiaries purchased, sold, or redeemed any listed securities for the six months ended June 30, 2025, or up to the announcement date - For the six months ended **June 30, 2025**, and up to the date of this announcement, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[56](index=56&type=chunk) [Major Subsequent Events](index=19&type=section&id=%E4%B8%BB%E8%A6%81%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) No significant events affecting the Group occurred from June 30, 2025, up to the announcement date - There were no significant events affecting the Group from the end of the financial period ended **June 30, 2025**, up to the date of this announcement[57](index=57&type=chunk) [Future Outlook](index=20&type=section&id=%E6%9C%AA%E4%BE%86%E5%B1%95%E6%9C%9B) The automotive industry is expected to grow despite competition; the Group plans to enhance new product development, expand passenger vehicle clients, and broaden its product portfolio for core competitiveness - The automotive industry is expected to maintain a **continuous growth trend**, despite increasing competition[58](index=58&type=chunk) - The Group will continue to strengthen new product development with existing clients and actively expand into new passenger vehicle clients[58](index=58&type=chunk) - The company will continuously expand its product portfolio to enhance its core competitiveness[58](index=58&type=chunk) [Corporate Governance](index=20&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The company maintains high corporate governance, complying with the code despite a combined Chairman and CEO role; the Board and senior management adhere to securities transaction standards, and the Audit Committee reviewed interim results [Compliance with Corporate Governance Code](index=20&type=section&id=%E9%81%B5%E5%AE%88%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) The company complies with the Corporate Governance Code, with the Chairman and CEO roles combined by Mr. Hou Jianli, an arrangement the Board believes aids strategic planning and decision execution under continuous director oversight - The Company has complied with all code provisions of the Corporate Governance Code for the six months ended **June 30, 2025**, except for the combined roles of Chairman and Chief Executive Officer[59](index=59&type=chunk) - The Board believes that combining the roles of Chairman and Chief Executive Officer ensures consistency in the Group's leadership and allows for more effective overall strategic planning[59](index=59&type=chunk) - Other Board members and independent non-executive directors continuously monitor the Company's key decisions and oversee the powers of the Chairman and Chief Executive Officer[59](index=59&type=chunk) [Model Code for Securities Transactions](index=20&type=section&id=%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E7%9A%84%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) The company adopted the Listing Rules' Model Code for Securities Transactions, with all directors and senior management confirming compliance during the reporting 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**[60](index=60&type=chunk) - All directors and senior management confirm their compliance with the relevant provisions of the Model Code during the six months ended **June 30, 2025**[60](index=60&type=chunk) [Audit Committee](index=20&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee reviewed the Group's accounting principles, policies, internal controls, financial reporting, and interim results for the six months ended June 30, 2025 - The Audit Committee has reviewed the accounting principles and policies adopted by the Group and discussed internal control and financial reporting matters[61](index=61&type=chunk) - The Audit Committee has reviewed the interim results for the six months ended **June 30, 2025**[61](index=61&type=chunk) [Publication of Information](index=21&type=section&id=%E5%88%8A%E7%99%BC%E4%BF%A1%E6%81%AF) This section outlines where the interim results announcement and report will be published - The interim results announcement will be published on the Stock Exchange's website (**www.hkexnews.hk**) and the Company's website (**www.trqcns.com**)[62](index=62&type=chunk) - The interim report for the six months ended **June 30, 2025**, containing all information required by the Listing Rules, will be dispatched to the Company's shareholders and published on the Stock Exchange's and the Company's websites in due course[62](index=62&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國天瑞汽車內飾件有限公司 CHINA TIANRUI AUTOMOTIVE INTERIORS CO., LTD （股份代號：6162） （於開曼群島註冊成立的有限公司） 於本公告日期，董事會包括兩名執行董事侯建利先生及張靜蓉女士；及三名獨立非執行 董事朱紅強先生、周根樹先生及陳耿先生。 董事會會議通告 侯建利 中國天瑞汽車內飾件有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公 司將於2025年8月25日（星期一）舉行董事會會議，藉以（其中包括）審議及批准本公司 及其附屬公司截至2025年6月30日止六個月之中期業績及其刊發以及建議派付中期股息 （如有），以及處理任何其他業務。 承董事會命 中國天瑞汽車內飾件有限公司 主席 中國，西安，2025年8月8日 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國天瑞汽車內飾件有限公司 呈交日期: 2025年8月6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) | 06162 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD ...

Core Points - The China Securities Index AH Economic Growth Index has shown significant growth, with a 7.97% increase over the past month, 10.26% over the last three months, and a year-to-date increase of 13.34% [1] - The index comprises financially sound leading companies from both mainland and Hong Kong markets, reflecting the performance of companies benefiting from changes in the national economic structure [1] - The index's top ten holdings include Tencent Holdings (9.46%), Alibaba-W (9.43%), Meituan-W (3.83%), Yum China (3.37%), Jiangsu Bank (3.03%), Jitu Express-W (2.96%), Muyuan Foods (2.56%), Dekang Agriculture (2.43%), Wens Foodstuff Group (2.3%), and China Telecom (1.84%) [1] Market Composition - The index's market composition shows that the Hong Kong Stock Exchange accounts for 52.86%, the Shanghai Stock Exchange for 30.81%, the Shenzhen Stock Exchange for 16.33%, and the Beijing Stock Exchange for 0.00% [1] - In terms of industry representation, the index has 20.08% in industrials, 19.84% in consumer discretionary, 15.61% in communication services, 11.42% in information technology, 9.15% in consumer staples, 8.30% in financials, 6.14% in materials, 4.91% in healthcare, 1.69% in utilities, 1.68% in energy, and 1.18% in real estate [2] Index Adjustment Mechanism - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are adjusted in accordance with the sample changes, and in special circumstances, temporary adjustments may be made [2]

Group 1 - The core index of the CSI Hong Kong-Shanghai-Shenzhen Connect Small Cap Consumer Index reported at 5488.14 points, showing a decline of 1.54% over the past month, an increase of 2.05% over the past three months, and a year-to-date increase of 3.77% [1] - The CSI Hong Kong-Shanghai-Shenzhen industry index series categorizes the CSI 500, CSI Hong Kong-Shanghai-Shenzhen Connect Small Cap Composite, and CSI Hong Kong-Shanghai-Shenzhen Connect Composite Index into 11 industries to reflect the overall performance of different industry companies [1] - The top ten holdings of the CSI Hong Kong-Shanghai-Shenzhen Connect Small Cap Consumer Index include Meihua Biological (2.53%), Zhengbang Technology (2.43%), Yanjing Beer (2.2%), Anjii Food (1.83%), Maogeping (1.79%), Hengan International (1.76%), Dabeinong (1.66%), Dekang Animal Husbandry (1.64%), First Pacific (1.57%), and Bairun Co. (1.55%) [1] Group 2 - The market share of the CSI Hong Kong-Shanghai-Shenzhen Connect Small Cap Consumer Index holdings is 41.28% from Shanghai Stock Exchange, 41.17% from Shenzhen Stock Exchange, and 17.55% from Hong Kong Stock Exchange [2] - The industry composition of the CSI Hong Kong-Shanghai-Shenzhen Connect Small Cap Consumer Index holdings shows that food accounts for 32.70%, breeding for 20.94%, liquor for 17.06%, planting for 8.99%, beauty care for 6.79%, soft drinks for 6.78%, and household goods for 6.75% [2] - The index sample is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2]

Financial Performance - The Group recorded revenue of approximately RMB 242.9 million in 2024, down by 1.2% compared to RMB 245.8 million in 2023[15] - Gross profit for 2024 was RMB 43.9 million, with a gross profit margin of 18.1%, compared to 19.2% in 2023[10] - Profit attributable to shareholders of the Company was approximately RMB 2.0 million in 2024, down from RMB 3.7 million in 2023[15] - Total revenue decreased by about 1.2%, from approximately RMB245.8 million in 2023 to about RMB242.9 million in 2024[36] - Gross profit decreased by approximately 6.8%, from about RMB47.1 million in 2023 to about RMB43.9 million in 2024[37] - Gross profit margin decreased from about 19.2% in 2023 to about 18.1% in 2024[37] - Other income decreased from approximately RMB 4.1 million for the year ended 31 December 2023 to approximately RMB 4.0 million for the year ended 31 December 2024, a decline of about 3.1%[43] - Financial costs decreased from approximately RMB 9.4 million for the year ended 31 December 2023 to approximately RMB 7.5 million for the year ended 31 December 2024, a decrease of about 20.1%[46] - Profit for the year decreased from approximately RMB 3.7 million for the year ended 31 December 2023 to approximately RMB 2.0 million for the year ended 31 December 2024[48] Assets and Liabilities - Total assets increased to RMB 623.6 million in 2024, up from RMB 528.9 million in 2023[12] - Total liabilities rose to RMB 376.0 million in 2024, compared to RMB 283.5 million in 2023[12] - Cash and cash equivalents increased from approximately RMB 67.5 million as at 31 December 2023 to approximately RMB 95.5 million as at 31 December 2024[49] - Bank and other loans increased from approximately RMB 102.1 million as at 31 December 2023 to approximately RMB 163.7 million as at 31 December 2024[56] - Inventory decreased from approximately RMB 60.6 million as at 31 December 2023 to approximately RMB 53.1 million as at 31 December 2024, a decrease of about 12.3%[58] Sales and Market Outlook - The heavy truck sales volume for 2024 was 902,000 units, a decrease of 1% compared to 2023[15] - The heavy truck industry is expected to scale between 900,000 and 1 million vehicles in 2025[19] - The passenger vehicle market is anticipated to grow, particularly for self-owned brand vehicles, supported by relevant policies[19] - The heavy truck business sector is expected to generate sales of around RMB150-180 million in 2025, accounting for about 40% of total sales[25] - The passenger car business sector is projected to generate sales of about RMB200-250 million in 2025, accounting for about 60% of total sales[25] Operational Efficiency and Strategy - The Company is focusing on factory-based operations and independent research to enhance product specialization and efficiency[16] - The company aims to enhance competitiveness through the implementation of the TES management system[20] - The Group plans to promote the "TES" (Tianrui Excellence Management System) to standardize group management and complete the digitalization of the Company's system[89] - The Group will maintain its market share and expand into external markets by promoting parallel operations in passenger cars and commercial vehicles[88] Employee and Management Information - As of December 31, 2024, the Group had 321 full-time employees, a decrease from 361 in 2023, with total staff costs approximately RMB 42.0 million, reflecting a 5.6% increase compared to RMB 39.8 million in 2023[77] - The Group emphasizes employee training and offers competitive remuneration packages to retain elite employees, reviewing these packages annually[83] - The Group's leadership includes individuals with extensive experience in their respective fields, ensuring informed decision-making and strategic direction[110] Corporate Governance - The company has complied with the Corporate Governance Code for the year ended December 31, 2024, with a noted deviation regarding the roles of chairman and CEO being held by the same individual[130] - The Board of Directors consists of three committees: Audit Committee, Remuneration Committee, and Nomination Committee, overseeing various aspects of the company's affairs[132] - The Company has appointed three Independent Non-executive Directors, representing more than one-third of the Board, ensuring compliance with Listing Rules[152] - The Company has established a formal procedure for formulating remuneration policies for Directors and senior management[170] - The Company ensures that none of the Directors determine their own remuneration, maintaining transparency in the remuneration process[163] - The Company has adopted a Board Diversity Policy to enhance performance quality by considering diversity in age, cultural background, ethnicity, and professional experience[183] Board Meetings and Attendance - The Board is responsible for developing and monitoring corporate governance policies and ensuring compliance with legal and regulatory requirements[140] - The Board of Directors is required to hold at least four meetings each year to ensure effective governance[197] - Attendance records indicate that all current Directors participated in the Annual General Meeting, with varying attendance in committee meetings[196] - The attendance record of Directors at Board and committee meetings is documented, ensuring accountability and governance[189]