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迪信通:欧正获委任为联席公司秘书
Zhi Tong Cai Jing· 2025-09-03 11:37
Group 1 - The company announced that Ms. Wu Xiuwai has resigned from her positions as (i) Co-Company Secretary, (ii) Authorized Representative, and (iii) Agent for legal documents, effective from September 3, 2025 [1] - Ms. Ou Zheng has been appointed as the new Co-Company Secretary, Authorized Representative, and Agent for legal documents to replace Ms. Wu, effective from September 3, 2025 [1] - The current Co-Company Secretary, Mr. Huang Mingqiang, will continue in his current role [1]
迪信通(06188.HK)委任欧正为联席公司秘书、授权代表及法律程序文件代理人
Ge Long Hui· 2025-09-03 11:33
Core Viewpoint - Dixin Communication (06188.HK) announced the resignation of Wu Xiuwai as co-secretary of the company and other representative roles effective September 3, 2025 [1] Group 1 - Wu Xiuwai has resigned from the positions of co-secretary, authorized representative, and legal process agent as per the relevant regulations [1] - Ou Zheng has been appointed as the new co-secretary, authorized representative, and legal process agent effective September 3, 2025, to replace Wu Xiuwai [1] - The current co-secretary, Huang Mingqiang, will continue in his current position [1]
迪信通(06188):欧正获委任为联席公司秘书
智通财经网· 2025-09-03 11:28
Core Viewpoint - The company announced the resignation of Ms. Wu Xiuwai from her positions as co-secretary, authorized representative, and legal process document agent, effective September 3, 2025. Ms. Ou Zheng has been appointed to replace her in these roles, also effective September 3, 2025. The current co-secretary, Mr. Huang Mingqiang, will continue in his position [1] Group 1 - Ms. Wu Xiuwai has resigned from her roles within the company [1] - Ms. Ou Zheng has been appointed as the new co-secretary and authorized representative [1] - Mr. Huang Mingqiang will maintain his current position as co-secretary [1]
迪信通(06188) - 更换联席公司秘书、授权代表及法律程序文件代理人;及申请豁免严格遵守上市规则...
2025-09-03 11:23
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。 更換聯席公司秘書、授權代表及法律程序文件代理人; 及 申請豁免嚴格遵守上市規則第3.28及8.17條 更換聯席公司秘書、授權代表及法律程序文件代理人 北京迪信通商貿股份有限公司(「本公司」)之董事(「董事」)會(「董事會」)謹此宣 佈,伍秀薇女士(「伍女士」)已辭任(i)本公司之聯席公司秘書(「聯席公司秘書」); (ii) 根據香港聯合交易所有限公司(「聯交所」)證券上市規則(「上市規則」)第3.05 條所規定之本公司授權代表(「授權代表」);及(iii)根據香港法例第622章公司條例 第16部及上市規則第19A.13(2)條所規定代表本公司於香港接受送達法律程序文件 及通知之本公司授權代表(「法律程序文件代理人」),自2025年9月3日起生效。 伍女士已確認,彼與董事會並無任何意見分歧,亦無任何其他關於彼辭任之事宜 須提呈本公司股東及聯交所垂注。 董事會進一步宣佈,歐正女士(「歐女士」)已獲委任為聯席 ...
迪信通(06188) - 截至二零二五年八月三十一日止月份之股份发行人的证券变动月报表
2025-09-03 08:05
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 本月底法定/註冊股本總額: RMB 886,460,400 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 公司名稱: 北京迪信通商貿股份有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06188 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 548,760,400 | RMB | | 1 | RMB | | 548,760,400 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | ...
迪信通(06188.HK):中期净亏损为7664.4万元
Ge Long Hui· 2025-08-27 13:36
Group 1 - The core viewpoint of the article is that Dixin Communication (06188.HK) reported a significant decline in revenue and an increase in net loss for the six months ending June 30, 2025 [1] Group 2 - The company's revenue for the period was RMB 8.219 billion, representing a year-on-year decrease of 13.80% [1] - The net loss attributable to the company's shareholders was RMB 76.644 million, which is an increase of 161.88% compared to the net loss of RMB 29.267 million in the same period last year [1] - The basic loss per share for the company was RMB 0.09 [1]
迪信通(06188)发布中期业绩 股东应占亏损7664.4万元 同比扩大161.88%
智通财经网· 2025-08-27 13:35
Group 1 - The company reported a revenue of 8.219 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 13.8% [1] - The loss attributable to shareholders was 76.644 million RMB, which expanded by 161.88% compared to the previous year [1] - The basic loss per share was 0.09 RMB [1]
迪信通发布中期业绩 股东应占亏损7664.4万元 同比扩大161.88%
Zhi Tong Cai Jing· 2025-08-27 13:34
Core Viewpoint - The company Dixin Communication (06188) reported a significant decline in revenue and an increase in shareholder losses for the six months ending June 30, 2025 [1] Financial Performance - Revenue for the period was 8.219 billion RMB, representing a year-on-year decrease of 13.8% [1] - The loss attributable to shareholders was 76.644 million RMB, which is an increase of 161.88% compared to the previous year [1] - Basic loss per share was 0.09 RMB [1]
迪信通(06188) - 建议不再设立监事会、建议修订公司章程及议事规则
2025-08-27 13:30
北 京 迪 信 通 商 貿 股 份 有 限 公 司 Beijing Digital Telecom Co., Ltd. ( 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ) (股 份 代 號:6188) 建議不再設立監事會、 建議修訂公司章程 及議事規則 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。 建議修訂公司章程及建議修訂自股東於臨時股東大會審議通過不再設立監事會之 決議案之日期起生效。 一般事項 一份載有(其中包括)建議不再設立監事會、建議修訂公司章程、建議修訂的通函 連同臨時股東大會通告將於適當時候寄發予股東。 承董事會命 北京迪信通商貿股份有限公司 本公告由北京迪信通商貿股份有限公司(「本公司」)根據香港聯合交易所有限公 司(「聯交所」)證券上市規則(「上市規則」)第13.51(1)條作出。 根據《中華人民共和國公司法》《上市公司章程指引》及《上市公司股東會規則》 及中國證券監督管理委員會近期修訂的其他相關規 ...
迪信通(06188) - 2025 - 中期业绩
2025-08-27 13:30
[Financial Summary](index=1&type=section&id=I.%20Financial%20Summary) The group reported a significant increase in net loss attributable to owners of the parent and a decrease in revenue for the six months ended June 30, 2025 [Performance Overview for the Six Months Ended June 30, 2025](index=1&type=section&id=1.1%20Performance%20Overview%20for%20the%20Six%20Months%20Ended%20June%2030,%202025) Beijing Dixintong Commercial Co., Ltd. reported unaudited interim results for H1 2025, with revenue decreasing by 13.80% and net loss attributable to owners of the parent increasing by 161.88% | Metric | Six Months Ended June 30, 2025 (RMB '000) | Six Months Ended June 30, 2024 (RMB '000) | YoY Change (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 8,219,463 | 9,535,821 | (1,316,358) | -13.80% | | Net Loss Attributable to Owners of the Parent | (76,644) | (29,267) | (47,377) | 161.88% | | Basic Loss Per Share (RMB per share) | (0.09) | (0.03) | (0.06) | 200.00% | [Interim Condensed Consolidated Financial Statements](index=2&type=section&id=II.%20Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the group's interim condensed consolidated financial statements, including the statement of profit or loss and the statement of financial position [Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=2.1%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the group's loss for the period significantly widened due to decreased revenue, reduced gross profit, and increased finance costs | Metric | Six Months Ended June 30, 2025 (RMB '000) | Six Months Ended June 30, 2024 (RMB '000) | | :--- | :--- | :--- | | Revenue | 8,219,463 | 9,535,821 | | Cost of Sales | (7,920,957) | (9,201,551) | | Gross Profit | 298,506 | 334,270 | | Other Income and Gains | 42,697 | 29,125 | | Selling and Distribution Expenses | (211,827) | (194,333) | | Administrative Expenses | (87,414) | (96,217) | | Finance Costs | (96,104) | (76,479) | | Loss Before Tax | (72,221) | (27,544) | | Loss for the Period | (73,422) | (29,077) | | Loss Attributable to Owners of the Parent | (76,644) | (29,267) | - Total comprehensive loss for the period expanded from **RMB 33,767 thousand** in 2024 to **RMB 73,371 thousand** in 2025, primarily due to the increased loss for the period[5](index=5&type=chunk) [Statement of Financial Position](index=4&type=section&id=2.2%20Statement%20of%20Financial%20Position) As of June 30, 2025, the group experienced a decrease in total assets and net assets, with total equity significantly reduced from RMB 91,258 thousand to RMB 17,887 thousand | Metric | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Total Non-current Assets | 321,629 | 334,451 | | Total Current Assets | 9,156,442 | 10,061,524 | | Total Current Liabilities | 9,368,314 | 10,127,462 | | Net Current Liabilities | (211,872) | (65,938) | | Net Assets | 17,887 | 91,258 | | Total Equity | 17,887 | 91,258 | - Pledged deposits increased from **RMB 2,135,073 thousand** as of December 31, 2024, to **RMB 2,964,052 thousand** as of June 30, 2025[6](index=6&type=chunk) [Notes to the Interim Condensed Consolidated Financial Information](index=6&type=section&id=III.%20Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes on the interim condensed consolidated financial information, covering company details, accounting policies, segment information, and specific financial line items [Company and Group Information](index=6&type=section&id=3.1%20Company%20and%20Group%20Information) Beijing Dixintong Commercial Co., Ltd. primarily engages in mobile communication equipment sales and services, with Huafa Group controlling approximately 74.99% of total voting rights - The Group primarily engages in the sale of mobile communication equipment and accessories and the provision of related services[8](index=8&type=chunk) - Huafa Group held approximately **56.00%** of the Company's equity during the reporting period and, together with other parties, controlled approximately **74.99%** of the Company's total voting rights through a concerted action agreement[8](index=8&type=chunk) [Basis of Preparation and Changes in Accounting Policies](index=6&type=section&id=3.2%20Basis%20of%20Preparation%20and%20Changes%20in%20Accounting%20Policies) The interim condensed consolidated financial information is prepared in accordance with IAS 34, with no significant impact from the adoption of the revised IAS 21 "Lack of Exchangeability" - The financial information is prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting"[9](index=9&type=chunk) - The revised International Accounting Standard 21 "Lack of Exchangeability" was adopted for the first time, but it had no impact on the financial information as all the Group's transaction currencies are convertible[10](index=10&type=chunk)[11](index=11&type=chunk) [Operating Segment Information](index=7&type=section&id=3.3%20Operating%20Segment%20Information) The group operates two reportable segments: traditional operations (mobile communication) and newly developed businesses (automotive, photovoltaic equipment sales), with no single customer accounting for over 10% of total revenue - The Group has two reportable operating segments: traditional operations (mobile communication related) and newly developed businesses (sales of automobiles, photovoltaic equipment, and others)[12](index=12&type=chunk) - During the reporting period, there were no customers whose individual revenue accounted for more than **10%** of the Group's total revenue[13](index=13&type=chunk) [Revenue, Other Income and Gains](index=7&type=section&id=3.4%20Revenue,%20Other%20Income%20and%20Gains) For H1 2025, total revenue decreased by 13.80% to RMB 8,219,463 thousand, driven by a significant drop in mobile communication equipment sales, offset by a surge in photovoltaic equipment sales and increased other income Revenue by Type | Revenue Type | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Sales of Mobile Communication Equipment and Accessories | 7,234,052 | 9,109,805 | -20.59% | | Sales of Photovoltaic Equipment | 665,487 | 59,143 | 1,025.22% | | Mobile Operator Service Revenue | 117,179 | 111,578 | 5.02% | | Online and Offline Sales and Marketing Service Revenue | 51,747 | 58,113 | -10.95% | | Other Service Fee Revenue | 150,998 | 161,349 | -6.54% | | **Total Revenue from Contracts with Customers** | **8,219,463** | **9,535,821** | **-13.80%** | Other Income and Gains | Other Income and Gains | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Interest Income | 36,304 | 14,605 | 148.58% | | Government Grants | 2,507 | 3,617 | -30.69% | | Others | 3,886 | 10,903 | -64.36% | | **Total** | **42,697** | **29,125** | **46.60%** | [Loss Before Tax](index=9&type=section&id=3.5%20Loss%20Before%20Tax) For H1 2025, loss before tax significantly increased to RMB 72,221 thousand, primarily due to higher cost of sales, depreciation, interest on lease liabilities, and impairment of financial assets Components of Loss Before Tax | Item | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Cost of Inventories Sold and Services Rendered | 7,920,957 | 9,201,551 | | Depreciation of Property, Plant and Equipment | 7,663 | 7,065 | | Depreciation of Right-of-Use Assets | 58,749 | 56,027 | | Interest on Lease Liabilities | 4,665 | 4,019 | | Impairment and Write-off of Trade Receivables | 11,725 | 14,739 | | Impairment and Write-off of Other Receivables | 10,399 | 6,219 | | Amounts Due from Related Parties (Reversal)/Impairment | (2,975) | 2,926 | [Income Tax](index=9&type=section&id=3.6%20Income%20Tax) For H1 2025, income tax expense decreased by 21.66% to RMB 1,201 thousand, mainly due to the utilization of tax losses carried forward by profitable subsidiaries Income Tax Expense | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Total Tax Expense for the Period | 1,201 | 1,533 | -21.66% | - The decrease in income tax expense was primarily due to certain profitable subsidiaries of the Group utilizing tax losses carried forward from previous years[38](index=38&type=chunk) [Loss Per Share Attributable to Owners of the Parent](index=10&type=section&id=3.7%20Loss%20Per%20Share%20Attributable%20to%20Owners%20of%20the%20Parent) For H1 2025, basic loss per share increased to RMB 0.09, up from RMB 0.03 in the prior year, primarily due to the expanded loss attributable to owners of the parent Basic Loss Per Share | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Loss Attributable to Owners of the Parent | (76,644) | (29,267) | | Weighted Average Number of Ordinary Shares | 886,460,400 | 886,460,400 | | Basic Loss Per Share (RMB per share) | (0.09) | (0.03) | [Trade and Bills Receivables](index=10&type=section&id=3.8%20Trade%20and%20Bills%20Receivables) As of June 30, 2025, total trade and bills receivables increased to RMB 1,618,952 thousand, with a significant rise in receivables aged over 180 days Trade and Bills Receivables Summary | Item | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Trade Receivables | 2,733,484 | 2,732,370 | | Bills Receivables | 122,673 | 3,620 | | Less: Impairment of Trade Receivables | (1,237,205) | (1,225,249) | | **Total** | **1,618,952** | **1,510,741** | Aging Analysis of Trade Receivables | Aging | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Within 90 days | 178,306 | 351,596 | | 91 to 180 days | 280,573 | 331,957 | | Over 180 days | 1,160,073 | 827,188 | [Trade and Bills Payables](index=11&type=section&id=3.9%20Trade%20and%20Bills%20Payables) As of June 30, 2025, total trade and bills payables significantly decreased to RMB 324,131 thousand, with notable reductions in payables aged within 180 days Trade and Bills Payables Summary | Item | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Trade Payables | 150,071 | 145,844 | | Bills Payables | 174,060 | 781,157 | | **Total** | **324,131** | **927,001** | Aging Analysis of Trade Payables | Aging | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Within 90 days | 174,349 | 503,580 | | 91 to 180 days | 1,501 | 364,156 | | Over 180 days | 148,281 | 59,265 | [Dividends](index=11&type=section&id=3.10%20Dividends) The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025[25](index=25&type=chunk) [Management Discussion and Analysis](index=12&type=section&id=IV.%20Management%20Discussion%20and%20Analysis) This section provides management's discussion and analysis of the group's business review, financial performance, capital expenditures, key financial ratios, and other significant matters [Business Review](index=12&type=section&id=4.1%20Business%20Review) For H1 2025, the group's mobile phone sales decreased by 35.22%, operating revenue declined by 13.80%, and net loss attributable to owners of the parent increased by 161.88% due to intensified competition Key Business Performance | Metric | H1 2025 | H1 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Mobile Phone Sales (thousand units) | 1,602 | 2,473 | (871) | -35.22% | | Operating Revenue (RMB '000) | 8,219,463 | 9,535,821 | (1,316,358) | -13.80% | | Net Loss Attributable to Owners of the Parent (RMB '000) | (76,644) | (29,267) | (47,377) | 161.88% | - The increase in loss was primarily due to intensified competition in the 3C industry and market, leading to a reduction in the Group's overall gross profit[26](index=26&type=chunk) [Financial Position and Operating Results](index=12&type=section&id=4.2%20Financial%20Position%20and%20Operating%20Results) This section details the group's H1 2025 financial performance, highlighting a 152.51% increase in net loss influenced by revenue decline, stable gross margin, increased other income, rising selling expenses, reduced administrative expenses, and higher finance costs [Overview](index=12&type=section&id=4.2.1%20Overview) For H1 2025, the group reported a net loss of RMB 73,422 thousand, a 152.51% increase, with basic loss per share rising to RMB 0.09 | Metric | Six Months Ended June 30, 2025 (RMB '000) | Six Months Ended June 30, 2024 (RMB '000) | YoY Change (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Net Loss | (73,422) | (29,077) | (44,345) | 152.51% | | Net Loss Attributable to Owners of the Parent | (76,644) | (29,267) | (47,377) | 161.88% | | Basic Loss Per Share (RMB per share) | (0.09) | (0.03) | (0.06) | 200.00% | [Operating Revenue](index=12&type=section&id=4.2.2%20Operating%20Revenue) Operating revenue decreased by 13.80% to RMB 8,219,463 thousand, primarily due to reduced retail, wholesale, and franchisee sales, despite a significant increase in photovoltaic equipment sales Revenue by Source | Revenue Source | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 8,219,463 | 9,535,821 | -13.80% | | Sales of Mobile Communication Equipment and Accessories | 7,234,052 | 9,109,805 | -20.59% | | Sales of Photovoltaic Equipment | 665,487 | 59,143 | 1,025.22% | | Mobile Operator Service Revenue | 117,179 | 111,578 | 5.02% | | Online and Offline Sales and Marketing Services and Other Service Revenue | 202,745 | 219,462 | -7.62% | - The decrease in operating revenue was mainly due to a decline in sales from both retail and wholesale businesses, as well as sales to franchisees[28](index=28&type=chunk) [Cost of Sales](index=13&type=section&id=4.2.3%20Cost%20of%20Sales) Cost of sales decreased by 13.92% to RMB 7,920,957 thousand, consistent with the reduction in operating revenue Cost of Sales Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Cost of Sales | 7,920,957 | 9,201,551 | -13.92% | [Gross Profit and Gross Margin](index=13&type=section&id=4.2.4%20Gross%20Profit%20and%20Gross%20Margin) Gross profit decreased by 10.70% to RMB 298,506 thousand, while the overall gross margin slightly increased from 3.51% to 3.63% Gross Profit and Margin Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Gross Profit | 298,506 | 334,270 | -10.70% | | Overall Gross Margin | 3.63% | 3.51% | +0.12% | [Other Income and Gains](index=14&type=section&id=4.2.5%20Other%20Income%20and%20Gains) Other income and gains increased by 46.60% to RMB 42,697 thousand, primarily driven by higher interest income Other Income and Gains Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Other Income and Gains | 42,697 | 29,125 | 46.60% | - The increase in other income and gains was mainly due to higher interest income during the period[33](index=33&type=chunk) [Selling and Distribution Expenses](index=14&type=section&id=4.2.6%20Selling%20and%20Distribution%20Expenses) Selling and distribution expenses increased by 9.00% to RMB 211,827 thousand, primarily due to higher marketing staff and rental costs for new stores Selling and Distribution Expenses Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Selling and Distribution Expenses | 211,827 | 194,333 | 9.00% | - The increase in selling and distribution expenses was due to higher marketing staff costs and rental costs for new stores[34](index=34&type=chunk) [Administrative Expenses](index=14&type=section&id=4.2.7%20Administrative%20Expenses) Administrative expenses decreased by 9.15% to RMB 87,414 thousand, primarily due to improved administrative staff efficiency and cost reductions Administrative Expenses Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Administrative Expenses | 87,414 | 96,217 | -9.15% | - The decrease in administrative expenses was due to improved efficiency of administrative staff and reduced costs[35](index=35&type=chunk) [Finance Costs](index=14&type=section&id=4.2.8%20Finance%20Costs) Finance costs increased by 25.66% to RMB 96,104 thousand, primarily due to an increase in bank borrowings Finance Costs Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Finance Costs | 96,104 | 76,479 | 25.66% | - The increase in finance costs was due to an increase in bank borrowings[36](index=36&type=chunk) [Other Expenses](index=14&type=section&id=4.2.9%20Other%20Expenses) Other expenses increased from negative RMB 342 thousand in 2024 to RMB 2,269 thousand in 2025, primarily due to store closure losses Other Expenses Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Other Expenses | 2,269 | (342) | - The increase in other expenses was mainly due to losses from store closures[37](index=37&type=chunk) [Income Tax Expense](index=14&type=section&id=4.2.10%20Income%20Tax%20Expense) Income tax expense decreased by 21.66% to RMB 1,201 thousand, primarily due to certain subsidiaries utilizing tax losses carried forward from previous years Income Tax Expense Summary | Metric | 2025 (RMB '000) | 2024 (RMB '000) | Change Rate | | :--- | :--- | :--- | :--- | | Income Tax Expense | 1,201 | 1,533 | -21.66% | - The decrease in income tax expense was primarily due to certain profitable subsidiaries of the Group utilizing tax losses carried forward from previous years[38](index=38&type=chunk) [Debt - Bank and Other Borrowings](index=15&type=section&id=4.2.11%20Debt%20-%20Bank%20and%20Other%20Borrowings) As of June 30, 2025, total interest-bearing bank and other borrowings significantly increased to RMB 4,824,850 thousand, primarily short-term bank loans, with a substantial rise in secured bank loans Bank and Other Borrowings | Borrowing Type | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Unsecured, repayable within one year | 1,547,550 | 1,396,893 | | Secured, repayable within one year | 3,277,300 | 1,563,200 | | Other borrowings (repayable within one year) | – | 702,000 | | Long-term unsecured | – | 72,800 | | **Total** | **4,824,850** | **3,734,893** | [Capital Expenditures](index=15&type=section&id=4.3%20Capital%20Expenditures) For H1 2025, capital expenditures amounted to RMB 27,892 thousand, primarily for the acquisition of fixed assets and store renovations Capital Expenditures Summary | Metric | Six Months Ended June 30, 2025 (RMB '000) | | :--- | :--- | | Capital Expenditures | 27,892 | - Capital expenditures were primarily for the acquisition of fixed assets and store renovation expenses[40](index=40&type=chunk) [Key Financial Ratios](index=16&type=section&id=4.4%20Key%20Financial%20Ratios) As of June 30, 2025, the current ratio slightly decreased to 0.98, the debt-to-asset ratio rose to 99.72%, and the net debt-to-equity ratio significantly increased to 17,578.40% due to higher net debt and reduced total equity Key Financial Ratios Summary | Item | June 30, 2025 | December 31, 2024 | Change | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Current Ratio | 0.98 | 0.99 | (0.01) | (1.01%) | | Debt-to-Asset Ratio | 99.72% | 98.31% | 1.41% | 1.43% | | Net Debt-to-Equity Ratio | 17,578.40% | 465.89% | 17,112.51% | 3,673.08% | - The significant increase in the net debt-to-equity ratio was primarily due to an increase in net debt and a decrease in total equity[42](index=42&type=chunk) [Other Significant Matters](index=16&type=section&id=4.5%20Other%20Significant%20Matters) The group reported no significant acquisitions, disposals, or contingent liabilities, primarily faces RMB-denominated exchange rate risk, has substantial pledged assets, and no major changes in investments, equity arrangements, or share capital structure [Significant Acquisitions and Disposals](index=16&type=section&id=4.5.1%20Significant%20Acquisitions%20and%20Disposals) For H1 2025, the group had no significant acquisitions or disposals - For the six months ended June 30, 2025, the Group had no significant acquisitions or disposals[42](index=42&type=chunk) [Contingent Liabilities](index=16&type=section&id=4.5.2%20Contingent%20Liabilities) For H1 2025, the group had no contingent liabilities - For the six months ended June 30, 2025, the Group had no contingent liabilities[42](index=42&type=chunk) [Exchange Rate Risk](index=16&type=section&id=4.5.3%20Exchange%20Rate%20Risk) Operating primarily in mainland China with most transactions in RMB, the group faces foreign currency risk from USD and HKD-denominated bank deposits and receivables, without hedging - The Group's principal operations are located in mainland China, with most transactions settled in RMB, and foreign currency risk arises from bank deposits and other receivables denominated in USD and HKD[42](index=42&type=chunk) - The Group has not hedged its foreign currency risk[42](index=42&type=chunk) [Pledge of Assets](index=17&type=section&id=4.5.4%20Pledge%20of%20Assets) As of June 30, 2025, the group had RMB 2,964,052 thousand in pledged deposits and RMB 191,251 thousand in financial assets measured at fair value through profit or loss Pledged Assets | Type of Pledged Assets | Amount (RMB '000) | | :--- | :--- | | Pledged Deposits | 2,964,052 | | Financial Assets Measured at Fair Value Through Profit or Loss | 191,251 | [Significant Investments](index=17&type=section&id=4.5.5%20Significant%20Investments) For H1 2025, the group had no other significant investment projects - For the six months ended June 30, 2025, the Group had no other significant investment projects[44](index=44&type=chunk) [Equity Arrangements](index=17&type=section&id=4.5.6%20Equity%20Arrangements) For H1 2025, the group did not undertake any equity subscriptions and has not yet formulated an equity plan - For the six months ended June 30, 2025, the Group did not undertake any equity subscriptions[45](index=45&type=chunk) - As of the date of this announcement, the Group has not yet formulated an equity plan[45](index=45&type=chunk) [Share Capital](index=17&type=section&id=4.5.7%20Share%20Capital) For H1 2025, there were no significant changes in the company's share capital structure - For the six months ended June 30, 2025, there were no significant changes in the Company's share capital structure[46](index=46&type=chunk) [Significant Events After Reporting Period](index=17&type=section&id=4.5.8%20Significant%20Events%20After%20Reporting%20Period) As of the announcement date, the group had no significant events after June 30, 2025, requiring disclosure - As of the date of this announcement, the Group had no significant events after June 30, 2025, requiring disclosure[47](index=47&type=chunk) [Employees and Remuneration Policy](index=17&type=section&id=4.6%20Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the group had 2,357 employees with remuneration expenses of approximately RMB 152,522 thousand, offering various training programs and compensation including base salary, performance pay, and social benefits Employee Information | Metric | June 30, 2025 | June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | Number of Employees | 2,357 | 2,478 | -121 | | Staff Costs and Employee Benefits Expenses (RMB '000) | 152,522 | 150,521 | +2,001 | - Remuneration includes position-based salaries, performance-based salaries, social insurance, and housing provident funds[48](index=48&type=chunk) - The Group conducts various forms of employee training, including professional ethics, product and business knowledge, and management skills training[48](index=48&type=chunk) [Business Outlook for H2 2025](index=18&type=section&id=V.%20Business%20Outlook%20for%20H2%202025) This section outlines the group's strategic initiatives for H2 2025, focusing on channel synergy, ecosystem expansion, new energy development, and lean management to enhance operational efficiency [Deepen Channel Synergy, Solidify Retail Foundation](index=18&type=section&id=5.1%20Deepen%20Channel%20Synergy,%20Solidify%20Retail%20Foundation) Dixintong plans to upgrade core offline stores, strengthen online partnerships with platforms like JD.com and Douyin, and build private domain traffic focusing on member value to create an integrated online-offline retail matrix - Offline retail will accelerate the structural upgrade of core stores, improving operational efficiency and the proportion of profitable stores[49](index=49&type=chunk) - Online retail will strengthen and deepen cooperation with platforms such as JD.com, Douyin, and Kuaishou, and systematically expand multi-category authorizations[49](index=49&type=chunk) - Private domain development will focus on member value and user operations, creating an integrated online and offline operational matrix[49](index=49&type=chunk) [Focus on Core Business, Expand Ecosystem Value Circle](index=18&type=section&id=5.2%20Focus%20on%20Core%20Business,%20Expand%20Ecosystem%20Value%20Circle) The company will maintain its mobile phone focus, deepen strategic partnerships with brands like Huawei, expand IoT categories including PC and smart home appliances, and enhance after-market services through digital platforms for recycling and value-added services - Strengthen strategic cooperation with brands such as Huawei, Honor, and Xiaomi, jointly developing marketing plans[50](index=50&type=chunk) - Expand IoT business categories, including PCs, smart home appliances, and AI hardware, fully empowering the development of various branch company businesses[50](index=50&type=chunk) - Optimize digital platforms to drive an increase in recycling business conversion rates and refine the operation of value-added services such as repair insurance[50](index=50&type=chunk) [Insight into Market Trends, Strategic Layout for New Energy](index=19&type=section&id=5.3%20Insight%20into%20Market%20Trends,%20Strategic%20Layout%20for%20New%20Energy) Building on household photovoltaic business, the group will adapt to industry policies, optimize partner strategies, and selectively enter the commercial and industrial photovoltaic market, while deepening supply chain cooperation with industry leaders to diversify new energy business - Building on the household photovoltaic business, the Group will flexibly respond to industry policies, expand its business footprint when appropriate, and seize opportunities to enter the commercial and industrial photovoltaic market[51](index=51&type=chunk) - Deepen cooperation with industry leaders in the photovoltaic supply chain to promote multi-channel and three-dimensional development of the new energy business[51](index=51&type=chunk) [Deepen Lean Management, Enhance Operational Efficiency](index=19&type=section&id=5.4%20Deepen%20Lean%20Management,%20Enhance%20Operational%20Efficiency) Dixintong will implement comprehensive cost reduction and efficiency improvement measures by optimizing inventory management, enhancing financial control mechanisms, and leveraging digital systems to strengthen risk management and boost operational efficiency and profitability - Optimize control mechanisms across all supply chain segments, including inventory management, to reduce inventory backlog and capital occupation[52](index=52&type=chunk) - Improve budget management, cost accounting, and performance allocation mechanisms to enhance financial management's support and monitoring capabilities for business operations[52](index=52&type=chunk) - Deepen the application of digital system functions to empower operational management upgrades, improve the risk management system, and promote a dual improvement in operational efficiency and effectiveness[52](index=52&type=chunk) [Other Information](index=20&type=section&id=VI.%20Other%20Information) This section covers interim dividends, corporate governance, securities trading standards, share transactions, audit committee details, publication of results, and board information [Interim Dividends](index=20&type=section&id=6.1%20Interim%20Dividends) The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2025[53](index=53&type=chunk) [Corporate Governance Practices](index=20&type=section&id=6.2%20Corporate%20Governance%20Practices) The company adopted and complied with the HKEX Corporate Governance Code, with the Chairman and CEO roles combined under Ms. Xu Jili, deemed to be in the company's best interest - The Company has adopted the Corporate Governance Code of the Hong Kong Stock Exchange and complied with all applicable code provisions during the reporting period[54](index=54&type=chunk) - The roles of Chairman and Chief Executive Officer are combined and held by Ms. Xu Jili, an arrangement the Board believes helps maintain the Company's operational efficiency and serves its best interests[54](index=54&type=chunk) [Standard Code for Securities Transactions](index=20&type=section&id=6.3%20Standard%20Code%20for%20Securities%20Transactions) The company adopted the Standard Code for Securities Transactions by Directors of Listed Issuers, with all directors and supervisors confirming compliance during the reporting period - The Company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers, and all directors and supervisors have confirmed compliance with the code during the reporting period[55](index=55&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=20&type=section&id=6.4%20Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) For H1 2025, neither the company nor its subsidiaries purchased, sold, or redeemed any of its listed securities, and the company held no treasury shares - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[56](index=56&type=chunk) - As of June 30, 2025, the Company held no treasury shares[56](index=56&type=chunk) [Audit Committee](index=20&type=section&id=6.5%20Audit%20Committee) The Audit Committee, comprising two independent non-executive directors and one non-executive director, reviewed the group's unaudited interim condensed consolidated results for H1 2025 - The Audit Committee comprises Mr. Cai Zhenhui (Chairman), Mr. Lü Tingjie (Independent Non-executive Director), and Ms. Pan Anran (Non-executive Director)[57](index=57&type=chunk) - The Audit Committee has reviewed the Group's unaudited interim condensed consolidated results for the six months ended June 30, 2025[57](index=57&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=21&type=section&id=6.6%20Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) The interim results announcement is published on the HKEX and company websites, with the interim report to be made available to shareholders in due course - This interim results announcement has been published on the HKEX website (www.hkexnews.hk) and the Company's website (www.dixintong.com)[58](index=58&type=chunk) - The Company's 2025 interim report, containing all information required by the Listing Rules, will be published on the HKEX and the Company's respective websites for shareholders' review in due course[58](index=58&type=chunk) [Board Information](index=21&type=section&id=6.7%20Board%20Information) As of the announcement date, the Board comprises executive directors Ms. Xu Jili, Ms. Xu Liping, and Mr. Liu Donghai; non-executive directors Mr. Xie Hui, Mr. Jia Zhaojie, and Ms. Pan Anran; and independent non-executive directors Mr. Lü Tingjie, Mr. Lü Pingbo, and Mr. Cai Zhenhui - The executive directors are Ms. Xu Jili, Ms. Xu Liping, and Mr. Liu Donghai[60](index=60&type=chunk) - The non-executive directors are Mr. Xie Hui, Mr. Jia Zhaojie, and Ms. Pan Anran[60](index=60&type=chunk) - The independent non-executive directors are Mr. Lü Tingjie, Mr. Lü Pingbo, and Mr. Cai Zhenhui[60](index=60&type=chunk)