[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)

[Supplementary Announcement Overview](index=1&type=section&id=Supplementary%20Announcement%20Overview) This announcement supplements Beijing Dixintong Commercial Co., Ltd.'s 2024 annual report with detailed information on H-share subscription proceeds, ensuring complete shareholder and investor information [Purpose and Background of the Announcement](index=1&type=section&id=Purpose%20and%20Background%20of%20the%20Announcement) This announcement provides additional details on the use of H-share subscription proceeds, supplementing the company's 2024 annual report - This announcement is a supplement to Beijing Dixintong Commercial Co., Ltd.'s 2024 annual report, aiming to provide additional information on the use of proceeds from H-share subscriptions[2](index=2&type=chunk)[3](index=3&type=chunk)[4](index=4&type=chunk) [H-share Subscription and Proceeds](index=1&type=section&id=H-share%20Subscription%20and%20Proceeds) This section details the H-share subscription, including its basic terms, net proceeds, planned utilization, and actual deployment [Basic Information on the Subscription](index=1&type=section&id=Basic%20Information%20on%20the%20Subscription) The company entered into agreements on September 1, 2023, to issue **154,000,000** new H-shares in three tranches at **HK$1.70** per share - On September 1, 2023, the company entered into subscription agreements with YBN Investments Limited and Unicorn Link Group Limited[4](index=4&type=chunk) H-share Subscription Key Information | Indicator | Content | | :--- | :--- | | Subscribers | YBN Investments Limited and Unicorn Link Group Limited | | Subscription Price | HK$1.70 per H-share | | Total Subscription Shares | 154,000,000 shares | | Subscription Tranches | Three tranches | [Net Proceeds and Planned Use](index=1&type=section&id=Net%20Proceeds%20and%20Planned%20Use) The subscription yielded net proceeds of approximately **HK$260.75 million**, designated for general working capital and bank loan repayment within one year H-share Subscription Proceeds | Indicator | Amount (million HKD) | | :--- | :--- | | Total Proceeds | 261.80 | | Related Fees and Expenses | 1.05 | | Net Proceeds | 260.75 | - The net proceeds are planned for the Group's general working capital, including repayment of bank loans related to general operations, and are expected to be utilized within one year after the completion of all three tranches of the subscription[5](index=5&type=chunk) [Actual Use of Proceeds](index=2&type=section&id=Actual%20Use%20of%20Proceeds) As of December 31, 2024, the entire net proceeds of **HK$260.75 million** have been fully utilized for general working capital and bank loan repayment as planned Use of Net Proceeds as of December 31, 2024 | Item | Unutilized Net Proceeds as of January 1, 2024 (million HKD) | Net Proceeds Utilized During the Year Ended December 31, 2024 (million HKD) | Unutilized Net Proceeds as of December 31, 2024 (million HKD) | | :--- | :--- | :--- | :--- | | General working capital (including repayment of bank loans related to general operations) | 260.75 | 260.75 | 0 | - As of December 31, 2024, the net proceeds raised from the subscription have been fully utilized according to the planned use of proceeds described in the circular[5](index=5&type=chunk) [Board of Directors and Other Information](index=2&type=section&id=Board%20of%20Directors%20and%20Other%20Information) This section outlines the composition of the Board of Directors and includes a standard disclaimer regarding the announcement's content [Composition of the Board of Directors](index=2&type=section&id=Composition%20of%20the%20Board%20of%20Directors) As of the announcement date, the company's board comprises 9 members, including executive, non-executive, and independent non-executive directors - As of the announcement date, the board of directors includes Ms. Xu Jili, Ms. Xu Liping, Mr. Liu Donghai (Executive Directors), Mr. Xie Hui, Mr. Jia Zhaojie, Ms. Pan Anran (Non-executive Directors), and Mr. Lu Tingjie, Mr. Lu Pingbo, Mr. Cai Zhenhui (Independent Non-executive Directors)[8](index=8&type=chunk) [Disclaimer](index=1&type=section&id=Disclaimer) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited disclaim responsibility for this announcement's content, accuracy, or completeness - Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited are not responsible for the contents of this announcement, do not guarantee its accuracy or completeness, and accept no liability for any related loss[1](index=1&type=chunk)

Group 1 - The company expects to incur a net loss attributable to the parent company of no more than RMB 80 million for the six months ending June 30, 2025, which represents an increase in loss compared to approximately RMB 29.27 million for the same period in 2024 [1] - The increase in loss is primarily attributed to a decrease in overall gross profit due to intensified competition in the 3C industry and market [1]

Core Viewpoint - The company expects to report a net loss attributable to the parent company of no more than RMB 80 million for the six months ending June 30, 2025, which represents an increase in loss compared to approximately RMB 29.27 million for the same period in 2024 [1] Group 1: Financial Performance - The anticipated loss for the upcoming period is significantly higher than the previous year's loss, indicating a worsening financial situation [1] - The increase in loss is primarily attributed to a decline in overall gross profit due to intensified competition in the 3C industry [1]

Group 1 - The company expects a net loss attributable to the parent company not exceeding RMB 80 million for the six months ending June 30, 2025, which represents an increase in loss compared to RMB 29.27 million for the same period in 2024 [1] - The increase in loss is primarily due to a decrease in overall gross profit caused by intensified competition in the 3C industry and market [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 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） 內幕消息 預期虧損增加 本公告乃由北京迪信通商貿股份有限公司（「本公司」，連同其附屬公司統稱為「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 證券及期貨條例（香港法例第571章）第XIVA 部項下之內幕消息條文（定義見上市 規則）作出。 本公司董事會（「董事會」）謹此知會本公司股東及潛在投資者，根據對本集團截至 二零二五年六月三十日止六個月的未經審核綜合管理賬目所作的初步審閱，本集 團預期截至二零二五年六月三十日止六個月錄得歸屬於本公司母公司擁有人的虧 損淨額不超過人民幣80百萬元， ...

格隆汇8月15日丨迪信通(06188.HK)宣布，本公司将于2025年8月27日（星期三）举行董事会会议，藉以 （其中包括）考虑及批准本公司截至2025年6月30日止六个月的中期业绩及其发布，以及处理其他事 项。 ...

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通告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 北 京 迪 信 通 商 貿 股 份 有 限 公 司 Beijing Digital Telecom Co., Ltd. （ 於 司 ） 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 （股 份 代 號：6188） 董事會會議通告 北京迪信通商貿股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司 將於二零二五年八月二十七日（星期三）舉行董事會會議，藉以（其中包括）考慮 及批准本公司截至二零二五年六月三十日止六個月之中期業績及其發佈，以及處 理其他事項。 承董事會命 北京迪信通商貿股份有限公司 董事長 許繼莉 中國，北京 二零二五年八月十五日 於本通告日期，本公司執行董事為許繼莉女士、許麗萍女士及劉東海先生；本公司 非執行董事為謝輝先生、賈召傑先生及潘安然女士；及本公司獨立非執行董事為 呂廷杰先生、呂平波先生及蔡振輝先生。 ...

公开资料显示，迪信通是国内最大的移动通讯连锁企业，主要从事移动通讯设备及配件零售和批发、科 技新零售、线上销售、为移动运营商提供服务、海外零售等业务，全国范围内拥有超千家直营及加盟门 店。多年来，迪信通与主要手机厂商、供应商、移动运营商开展长期战略合作，与京东、阿里巴巴等主 要电商合作密切。于2024年12月31日，该公司旗下拥有100多家附属公司，在中国20个省份和4个直辖市 开拓了超650家直营和加盟门店。 今年3月，迪信通发布截至2024年12月31日止年度的经审核年度业绩，收入180.16亿元(人民币，下同)， 同比增加5.08%；股东应占亏损13.74亿元，同比扩大118.1%。公告称，营业收入的增加主要是由于集团 光伏业务的收入在本年度取得大幅增加。 迪信通(06188)一度涨超70%，截至发稿，涨61.22%，报0.79港元，成交额366.52万港元。 ...

Core Viewpoint - Dixin Communication (06188) experienced a significant stock price increase, rising over 70% at one point and closing up 61.22% at HKD 0.79, with a trading volume of HKD 3.6652 million [1] Company Overview - Dixin Communication is the largest mobile communication chain enterprise in China, primarily engaged in the retail and wholesale of mobile communication devices and accessories, technology new retail, online sales, and services for mobile operators, with over 1,000 direct and franchise stores nationwide [1] - The company has established long-term strategic partnerships with major mobile manufacturers, suppliers, and mobile operators, and has close collaborations with major e-commerce platforms such as JD.com and Alibaba [1] - As of December 31, 2024, Dixin Communication operates over 650 direct and franchise stores across 20 provinces and 4 municipalities in China, with more than 100 subsidiaries [1] Financial Performance - In March, Dixin Communication reported its audited annual results for the year ending December 31, 2024, with revenue of RMB 18.016 billion, an increase of 5.08% year-on-year [1] - The company reported a shareholder loss of RMB 1.374 billion, which represents a year-on-year increase of 118.1% [1] - The increase in revenue was primarily attributed to a significant rise in income from the group's photovoltaic business during the fiscal year [1]