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10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: 中國華泰瑞銀控股有限公司 呈交日期: 2025年11月4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) | 08006 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 12,500,000,000 | HKD | | 0.04 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 12,500,000,000 | HKD | | 0.04 | HKD | | 500,000,000 | 本月 ...

CEO Remuneration - The total remuneration for the CEO, Mr. Wang Ganzhi, for the year ended December 31, 2012, was HKD 1,311,000, which included a salary of HKD 127,000 and allowances of HKD 1,170,000[5] - For the year ended December 31, 2013, the total remuneration for the CEO decreased to HKD 987,000, with a salary of HKD 975,000 and allowances of HKD 12,000[5] Information Disclosure - The company has maintained all information and content from the annual reports for the years ended December 31, 2012, and December 31, 2013, without any changes[6] - The board of directors confirmed the accuracy and completeness of the information disclosed in the announcement, ensuring no misleading or deceptive elements are present[8] - The announcement will be available on the GEM website and the company's website for at least seven days from the publication date[8]

Core Points - Huatai UBS (08006) announced that as of October 13, 2025, it received a total of 33 valid applications for a total of 93.7938 million shares in the rights issue, representing approximately 42.4% of the total shares offered [1] - The rights issue was not fully subscribed, with a shortfall of 128 million shares, accounting for about 57.6% of the total shares offered, which will be handled according to the compensation arrangement [1] - The placement agent will make efforts to encourage subscribers to purchase all (or as many as possible) of the unsubscribed rights issue shares and any unsold shares from excluded shareholders between October 17, 2025, and no later than October 28, 2025 [1]

Core Points - Huatai Securities (08006) announced that as of October 13, 2025, it received a total of 33 valid applications for a rights issue, involving 93.7938 million shares, which represents approximately 42.4% of the total shares offered [1] - The rights issue was not fully subscribed, with a shortfall of 128 million shares, accounting for about 57.6% of the total shares offered, which will be handled according to the compensation arrangement [1] - The placement agent will make efforts to encourage subscribers to purchase all (or as many as possible) of the unsubscribed rights issue shares and any unsold shares from excluded shareholders between October 17, 2025, and no later than October 28, 2025 [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，並明確表示概不就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。 本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約。 Sino Splendid Holdings Limited 中國華泰瑞銀控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8006） 倘就任何淨收益而言，任何不行動股東按上述基準有權收取100港元或以上之金額， 有關金額將僅以港元支付予相關不行動股東，而不足100港元之個別金額將撥歸本 公司所有。 按於記錄日期每持有兩(2)股現有股份獲發三(3)股供股股份之 基準進行的供股項下供股股份的有效接納結果及 補償安排所涉及的未獲認購供股股份及 除外股東未售出供股股份數目 茲提述中國華泰瑞銀控股有限公司（「本公司」）日期為二零二五年九月二十五日 有關（其中包括）供股之章程（「供股章程」）。除文義另有所指外，本公告所用詞彙 與供股章程所界定者具有相同涵義。 供股股份之有效接納結果 於記錄日期，(i)已發行股份數目為147,540,930股 ...

截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國華泰瑞銀控股有限公司 呈交日期: 2025年10月8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) | 08006 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 12,500,000,000 | HKD | | 0.04 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 12,500,000,000 | HKD | | 0.04 | HKD | | 500,000,000 | 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 本月底 ...

Sino Splendid Holdings Limited 中國華泰瑞銀控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） （Stock Code 股份代號：8006） 25 September 2025 Dear non-registered shareholder(s), Sino Splendid Holdings Limited (the "Company") – Notice of Publication of Prospectus in relation to Rights Issue on the basis of three (3) Rights Shares for every two (2) Existing Shares held on the Record Date, and 2025 Interim Report (the "Current Corporate Communications") The Current Corporate Communications ...

Dear registered shareholder(s), Sino Splendid Holdings Limited (the "Company") Sino Splendid Holdings Limited 中國華泰瑞銀控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） （Stock Code 股份代號：8006） 25 September 2025 – Notice of Publication of Prospectus in relation to Rights Issue on the basis of three (3) Rights Shares for every two (2) Existing Shares held on the Record Date with Provisional Allotment Letter, and 2025 Interim Report (the "Current Corporate Communications") The Cur ...

TO BE VALID, THE WHOLE OF THIS DOCUMENT MUST BE RETURNED. 本文件必須整份交還，方為有效。 Hong Kong Exchanges and Clearing Limited, the Stock Exchange and HKSCC take no responsibility for the contents of this PAL, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this PAL. IMPORTANT 重要提示 Reference is made to the prospectus issued by Sino Splendid Holdings Limited (the "Com ...

[UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME](index=3&type=section&id=UNAUDITED%20CONSOLIDATED%20STATEMENT%20OF%20PROFIT%20OR%20LOSS%20AND%20OTHER%20COMPREHENSIVE%20INCOME) For the six months ended June 30, 2025, the company turned a loss into a profit of HK$2,537 thousand, compared to a loss of HK$6,000 thousand in the prior period, with revenue slightly up by 1.5% and gross profit margin significantly increasing to 53.6% Key Profit or Loss Data (For the six months ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 18,961 | 18,676 | +1.5% | | Cost of sales | (8,793) | (14,723) | -40.3% | | Gross profit | 10,168 | 3,953 | +157.2% | | Other income, gains and losses | 37 | (6,137) | Turned loss into gain | | Selling and distribution expenses | (2,500) | (1,098) | +127.7% | | Administrative expenses | (5,167) | (2,718) | +90.1% | | Profit/(Loss) before income tax | 2,537 | (6,000) | Turned loss into profit | | Profit/(Loss) for the period | 2,537 | (6,000) | Turned loss into profit | | Basic earnings/(loss) per share (HK cents) | 1.72 | (4.07) | Turned loss into profit | - Gross profit margin significantly increased from approximately **21.1%** in the same period of 2024 to approximately **53.6%** in the first half of 2025[10](index=10&type=chunk)[85](index=85&type=chunk) - Selling and distribution expenses increased by **128%** year-on-year to **HK$2,500 thousand**, primarily due to increased marketing costs[10](index=10&type=chunk)[82](index=82&type=chunk)[86](index=86&type=chunk) - Administrative expenses increased by **90.1%** year-on-year to **HK$5,167 thousand**, mainly due to increased costs for developing AI and IT functionalities[10](index=10&type=chunk)[83](index=83&type=chunk)[87](index=87&type=chunk) [UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION](index=6&type=section&id=UNAUDITED%20CONSOLIDATED%20STATEMENT%20OF%20FINANCIAL%20POSITION) As of June 30, 2025, the company's total assets and total equity both increased, with non-current assets remaining stable, a significant rise in trade and other receivables, and a decrease in bank balances and cash Key Financial Position Data | Indicator | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | **Non-current assets** | | | | | Property, plant and equipment | 17 | 23 | -26.1% | | Goodwill | 5,161 | 5,161 | 0% | | **Current assets** | | | | | Loans receivable | 9,968 | 9,531 | +4.6% | | Trade and other receivables | 46,228 | 32,727 | +41.2% | | Financial assets at fair value through profit or loss | 11,968 | 11,616 | +3.0% | | Bank balances and cash | 1,520 | 6,903 | -78.0% | | **Current liabilities** | | | | | Trade and other payables | 47,191 | 41,088 | +14.8% | | Tax liabilities | 85 | 85 | 0% | | **Equity** | | | | | Share capital | 5,902 | 5,902 | 0% | | Share premium and reserves | 21,684 | 18,886 | +14.8% | | Total equity | 27,586 | 24,788 | +11.3% | - Total assets increased from approximately **HK$65,961 thousand** as of December 31, 2024, to approximately **HK$74,862 thousand** as of June 30, 2025[16](index=16&type=chunk)[105](index=105&type=chunk) - Bank balances and cash significantly decreased by **78.0%**, from approximately **HK$6,903 thousand** to approximately **HK$1,520 thousand**[16](index=16&type=chunk)[105](index=105&type=chunk) [UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY](index=8&type=section&id=UNAUDITED%20CONSOLIDATED%20STATEMENT%20OF%20CHANGES%20IN%20EQUITY) For the six months ended June 30, 2025, total equity increased from HK$24,788 thousand as of January 1, 2025, to HK$27,586 thousand, primarily driven by a profit of HK$2,537 thousand and positive movements in exchange reserves Key Equity Movement Data (For the six months ended June 30) | Indicator | January 1, 2025 (HK$ thousand) | Profit/(Loss) for the period (HK$ thousand) | Other comprehensive income/(expense) (HK$ thousand) | June 30, 2025 (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Share capital | 5,902 | – | – | 5,902 | | Share premium | 89,449 | – | – | 89,449 | | Capital reserve | 755 | – | – | 755 | | Share option reserve | – | – | – | – | | Capital redemption reserve | 11,690 | – | – | 11,690 | | Exchange reserve | (4,102) | – | 261 | (3,841) | | Retained profit/(loss) | (78,906) | 2,537 | – | (76,369) | | **Subtotal** | **24,788** | **2,537** | **261** | **27,586** | | Non-controlling interests | – | – | – | – | | **Total** | **24,788** | **2,537** | **261** | **27,586** | - Total comprehensive income for the period was **HK$2,798 thousand**, a significant improvement from a total comprehensive expense of **HK$6,990 thousand** in the prior period[19](index=19&type=chunk) - Exchange reserve improved from **(HK$4,102 thousand)** as of January 1, 2025, to **(HK$3,841 thousand)** as of June 30, 2025, with an exchange gain of **HK$261 thousand** generated during the period[19](index=19&type=chunk) [UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS](index=10&type=section&id=UNAUDITED%20CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOWS) For the six months ended June 30, 2025, net cash used in operating activities decreased, and net cash used in investing activities also slightly declined, leading to a narrower net decrease in cash and cash equivalents Key Cash Flow Data (For the six months ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Net cash used in operating activities | (5,292) | (8,962) | -41.0% | | Net cash from/(used in) investing activities | (352) | (457) | -23.0% | | Net (decrease)/increase in cash and cash equivalents | (5,644) | (9,419) | -40.0% | | Effect of foreign exchange rate changes on cash balances | 261 | (990) | Turned loss into gain | | Cash and cash equivalents (end of period) | 1,520 | 10,713 | -85.8% | - Cash and cash equivalents at period-end significantly decreased by **85.8%**, from **HK$10,713 thousand** in the same period of 2024 to **HK$1,520 thousand**[23](index=23&type=chunk) [NOTES](index=11&type=section&id=NOTES) The notes detail the basis of preparation, accounting policies, revenue, segment information, taxation, EPS calculation, dividend policy, asset movements, receivables/payables, share capital, financial instrument fair value, related party transactions, key management compensation, other income, and post-reporting events, providing essential context for financial data [1. BASIS OF PREPARATION](index=11&type=section&id=1.%20BASIS%20OF%20PREPARATION) The unaudited condensed consolidated financial statements are prepared in accordance with HKAS 34 'Interim Financial Reporting' and GEM Listing Rules Chapter 18, unaudited by the company's auditors, and may be subject to adjustments during the annual audit - The financial statements are prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting' and Chapter 18 of the GEM Listing Rules[24](index=24&type=chunk)[28](index=28&type=chunk) - The financial statements have not been reviewed by the company's auditors and may be subject to adjustments during the annual audit[25](index=25&type=chunk)[28](index=28&type=chunk) [2. PRINCIPAL ACCOUNTING POLICIES](index=11&type=section&id=2.%20PRINCIPAL%20ACCOUNTING%20POLICIES) The Group's financial statements are prepared under the historical cost convention, except for financial instruments measured at fair value, with principal accounting policies consistent with the 2024 annual financial statements and new HKFRS amendments effective January 1, 2025, adopted without significant impact on financial performance or position - The financial statements are prepared under the historical cost convention, with certain financial instruments measured at fair value[26](index=26&type=chunk)[29](index=29&type=chunk) - New and revised Hong Kong Financial Reporting Standards effective January 1, 2025, have been adopted but have not resulted in significant changes to financial performance or position[26](index=26&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk) [3. REVENUE](index=12&type=section&id=3.%20REVENUE) For the six months ended June 30, 2025, the Group's total revenue was HK$18,961 thousand, a slight increase from HK$18,676 thousand in the prior period, with financial magazines and other media business remaining the primary source and securities investment contributing new revenue Revenue Analysis (For the six months ended June 30) | Business Segment | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Travel media | 350 | 240 | +45.8% | | Financial magazines and other media business | 17,822 | 18,000 | -1.0% | | Securities investment | 353 | – | New | | Money lending | 436 | 436 | 0% | | Virtual reality | – | – | 0% | | **Total** | **18,961** | **18,676** | **+1.5%** | [4. SEGMENT INFORMATION](index=13&type=section&id=4.%20SEGMENT%20INFORMATION) The Group currently has four reportable segments: travel media business, financial magazines and other media business, securities investment, and money lending, with the virtual reality business deregistered in February 2025; financial magazines and other media is the primary revenue and profit contributor, and the Group's operations and employees are mainly in Singapore and Hong Kong, with revenue primarily from Hong Kong - The Group has four reportable segments: travel media business, financial magazines and other media business, securities investment, and money lending business[32](index=32&type=chunk)[35](index=35&type=chunk) - The virtual reality business was deregistered on February 8, 2025, and contributed no revenue during the period[100](index=100&type=chunk)[104](index=104&type=chunk) Segment Revenue and Profit (For the six months ended June 30) | Business Segment | 2025 Revenue (HK$ thousand) | 2025 Profit/(Loss) (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2024 Profit/(Loss) (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Travel media business | 350 | 168 | 240 | 26 | | Financial magazines and other media business | 17,822 | 4,216 | 18,000 | 1,274 | | Securities investment | 353 | 351 | – | – | | Money lending | 436 | (76) | 436 | (493) | | Virtual reality | – | – | – | (2) | | **Total Reportable Segments** | **18,961** | **4,659** | **18,676** | **805** | - The Group's operations and employees are primarily located in Singapore and Hong Kong, with all revenue from external customers originating from Hong Kong[39](index=39&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk) [5. INCOME TAX](index=16&type=section&id=5.%20INCOME%20TAX) For the six months ended June 30, 2025, no Hong Kong profits tax provision was made due to the absence of assessable profits, with the standard tax rate at 16.5% and a two-tiered system applying 8.25% to the first HK$2 million of assessable profits - No Hong Kong profits tax provision was made for the period ended June 30, 2025, as no assessable profits arose[44](index=44&type=chunk)[47](index=47&type=chunk) - Hong Kong profits tax rate is **16.5%**, with a two-tiered profits tax regime applying **8.25%** to the first **HK$2 million** of assessable profits since the 2018/2019 year of assessment[44](index=44&type=chunk)[45](index=45&type=chunk)[47](index=47&type=chunk) [6. PROFIT/(LOSS) FOR THE PERIOD](index=17&type=section&id=6.%20PROFIT%2F%28LOSS%29%20FOR%20THE%20PERIOD) The calculation of profit (previously loss) for the period accounts for depreciation, staff costs, and net exchange gains, notably showing a significant year-on-year decrease in staff costs and a shift from net exchange loss to gain Profit/(Loss) for the Period Calculation Items (For the six months ended June 30) | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Depreciation of property, plant and equipment | 5 | 241 | -97.9% | | Staff costs (including directors' emoluments) | 572 | 1,584 | -63.9% | | Net exchange (gain)/loss | (37) | (205) | Turned loss into gain | | Bank interest income | – | 1 | -100% | - Staff costs (including directors' emoluments) significantly decreased by **63.9%** year-on-year, from **HK$1,584 thousand** to **HK$572 thousand**[49](index=49&type=chunk) - Net exchange difference turned from a loss of **HK$205 thousand** in the same period of 2024 to a gain of **HK$37 thousand** in the same period of 2025[49](index=49&type=chunk) [7. EARNINGS/(LOSS) PER SHARE](index=18&type=section&id=7.%20EARNINGS%2F%28LOSS%29%20PER%20SHARE) For the six months ended June 30, 2025, the company's basic and diluted earnings per share were **1.72 HK cents**, a significant improvement from a loss per share of **4.07 HK cents** in the prior period, with the weighted average number of ordinary shares outstanding remaining unchanged Earnings/(Loss) Per Share Calculation Data (For the six months ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Profit/(Loss) for the purpose of calculating basic earnings/(loss) per share | 2,537 | (6,000) | | Weighted average number of ordinary shares (thousand shares) | 147,541 | 147,541 | | Basic earnings/(loss) per share (HK cents) | 1.72 | (4.07) | - The weighted average number of ordinary shares outstanding remained unchanged at **147,541 thousand shares** for both reporting periods[53](index=53&type=chunk) [8. DIVIDEND](index=19&type=section&id=8.%20DIVIDEND) The Board does not recommend the payment of an interim dividend for the six-month period (2024: nil) - The Board does not recommend the payment of an interim dividend for the six-month period (2024: nil)[54](index=54&type=chunk)[55](index=55&type=chunk) [9. MOVEMENTS IN PROPERTY, PLANT AND EQUIPMENT](index=19&type=section&id=9.%20MOVEMENTS%20IN%20PROPERTY%2C%20PLANT%20AND%20EQUIPMENT) During the six-month period, the Group made no new acquisitions of computer equipment, resulting in zero total additions to property, plant, and equipment - The cost of computer equipment acquired by the Group during the six-month period was **nil** (2024: nil)[54](index=54&type=chunk)[55](index=55&type=chunk) - Total additions to property, plant and equipment during the six-month period were **nil** (2024: nil)[54](index=54&type=chunk)[55](index=55&type=chunk) [10. ACCOUNTS AND OTHER RECEIVABLES](index=20&type=section&id=10.%20ACCOUNTS%20AND%20OTHER%20RECEIVABLES) As of June 30, 2025, net trade and other receivables increased to HK$46,228 thousand, a 41.2% rise from December 31, 2024, with the largest portion comprising amounts over 180 days but within one year Ageing Analysis of Trade and Other Receivables | Ageing | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 90 days | 8,895 | 6,297 | | 91-120 days | 2,910 | 2,060 | | 121-180 days | 5,821 | 4,121 | | Over 180 days but within one year | 28,602 | 20,249 | | **Total** | **46,228** | **32,727** | - The Group's transactions with customers are primarily on credit, with credit terms generally ranging from **1 to 3 months**, extendable up to **12 months** for major customers[58](index=58&type=chunk) - The Group maintains strict control over trade receivables, implements credit control policies to mitigate risks, and regularly reviews overdue balances for impairment loss provisions[58](index=58&type=chunk) [11. ACCOUNT AND OTHER PAYABLES](index=21&type=section&id=11.%20ACCOUNT%20AND%20OTHER%20PAYABLES) As of June 30, 2025, trade and other payables increased to HK$47,191 thousand, a 14.8% rise from December 31, 2024, with the largest portion comprising amounts over 180 days but within one year Ageing Analysis of Trade and Other Payables | Ageing | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 90 days | 6,007 | 5,230 | | 91-180 days | 6,008 | 5,231 | | Over 180 days but within one year | 35,176 | 30,627 | | **Total** | **47,191** | **41,088** | [12. SHARE CAPITAL](index=21&type=section&id=12.%20SHARE%20CAPITAL) As of June 30, 2025, the company's authorized share capital was HK$500,000 thousand, with 147,540,930 issued and fully paid shares at HK$0.04 par value each, totaling HK$5,902 thousand, unchanged from December 31, 2024 Share Capital Structure | Indicator | June 30, 2025 (number of shares) | December 31, 2024 (number of shares) | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Authorized share capital (HK$0.04 per share) | 12,500,000,000 | 12,500,000,000 | 500,000 | 500,000 | | Issued and fully paid share capital (HK$0.04 per share) | 147,540,930 | 147,540,930 | 5,902 | 5,902 | [13. FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS](index=22&type=section&id=13.%20FAIR%20VALUE%20MEASUREMENTS%20OF%20FINANCIAL%20INSTRUMENTS) The Group's available-for-sale financial assets, primarily unlisted private equity funds, are recognized at cost less impairment due to an excessively wide range of fair value estimates, while other financial assets and liabilities recorded at amortized cost have carrying amounts approximating their fair values - Available-for-sale financial assets (unlisted private equity funds) are recognized at cost less impairment, as their fair value cannot be reliably measured due to an excessively wide range of estimates[62](index=62&type=chunk)[65](index=65&type=chunk) - The carrying amounts of financial assets and financial liabilities recorded at amortized cost approximate their fair values[63](index=63&type=chunk)[65](index=65&type=chunk) [14. RELATED PARTY TRANSACTIONS](index=22&type=section&id=14.%20RELATED%20PARTY%20TRANSACTIONS) During the six-month period, the Group had no related party transactions - During the six-month period, the Group had no related party transactions[64](index=64&type=chunk)[66](index=66&type=chunk) [15. COMPENSATION OF KEY MANAGEMENT PERSONNEL](index=22&type=section&id=15.%20COMPENSATION%20OF%20KEY%20MANAGEMENT%20PERSONNEL) For the six months ended June 30, 2025, total compensation for key management personnel (including directors and four employees) was HK$432 thousand, a decrease from HK$532 thousand in the prior period Key Management Personnel Compensation (For the six months ended June 30) | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Short-term benefits | 372 | 472 | | Contributions to retirement benefit schemes | 60 | 60 | | **Total** | **432** | **532** | - Key management personnel compensation is determined by the Remuneration Committee based on individual performance and market trends[68](index=68&type=chunk) [16. OTHER INCOME, GAINS AND LOSSES](index=23&type=section&id=16.%20OTHER%20INCOME%2C%20GAINS%20AND%20LOSSES) For the six-month period, other income, gains, and losses amounted to a gain of approximately HK$37 thousand, a significant improvement from a loss of approximately HK$6,137 thousand in the prior period - For the six-month period, other income, gains and losses amounted to a gain of approximately **HK$37 thousand** (2024: loss of approximately **HK$6,137 thousand**)[69](index=69&type=chunk)[72](index=72&type=chunk) [17. EVENT SUBSEQUENT TO THE END OF REPORTING PERIOD](index=23&type=section&id=17.%20EVENT%20SUBSEQUENT%20TO%20THE%20END%20OF%20REPORTING%20PERIOD) Subsequent to the reporting period, the Board proposed a rights issue of up to 221,311,395 rights shares at HK$0.08 per share on a three-for-two basis, expecting to raise approximately HK$17.7 million gross (HK$16.5 million net) on a non-underwritten basis; additionally, an EGM will be held on September 12, 2025, and the Nomination Committee's terms of reference have been updated - The Board proposed a rights issue of up to **221,311,395** rights shares at a subscription price of **HK$0.08** per share on the basis of three rights shares for every two shares held[71](index=71&type=chunk)[73](index=73&type=chunk) - The rights issue is expected to raise gross proceeds of approximately **HK$17.7 million** (net proceeds of approximately **HK$16.5 million** after expenses) and will be conducted on a non-underwritten basis[71](index=71&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) - The company will arrange for the placing agent to place unsubscribed rights shares and unsold rights shares of excluded shareholders to independent placees on a best-effort basis[75](index=75&type=chunk)[76](index=76&type=chunk) - The company will hold an extraordinary general meeting on Friday, September 12, 2025, at 11:00 a.m.[78](index=78&type=chunk)[80](index=80&type=chunk) - The terms of reference for the Nomination Committee have been updated and published on the company's and HKEX websites[78](index=78&type=chunk)[80](index=80&type=chunk) [MANAGEMENT DISCUSSION AND ANALYSIS](index=26&type=section&id=MANAGEMENT%20DISCUSSION%20AND%20ANALYSIS) This section reviews the Group's financial results and business performance for the six-month period, covering revenue, gross profit, expenses, segment operations, and discusses financial position, capital structure, liquidity, exchange rate risk, significant investments, and future outlook [RESULTS](index=26&type=section&id=RESULTS) The Group achieved a turnaround to a profit of HK$2,537 thousand for the six-month period, with revenue slightly up by 1.5% driven by travel media business growth, gross profit margin significantly increasing to 53.6%, and both selling/distribution and administrative expenses rising sharply due to marketing and AI/IT development costs - Revenue for the six-month period was approximately **HK$18,961 thousand**, an increase of approximately **1.5%** compared to the same period in 2024, primarily due to increased revenue from the travel media business[81](index=81&type=chunk)[84](index=84&type=chunk) - Gross profit margin increased from approximately **21.1%** in the same period of 2024 to approximately **53.6%**[81](index=81&type=chunk)[85](index=85&type=chunk) - Selling and distribution expenses increased by approximately **128%** to **HK$2,500 thousand**, mainly due to increased marketing costs[82](index=82&type=chunk)[86](index=86&type=chunk) - Administrative expenses increased by approximately **90.1%** to **HK$5,167 thousand**, mainly due to increased costs for developing artificial intelligence and information technology functionalities[83](index=83&type=chunk)[87](index=87&type=chunk) - Profit for the period attributable to owners of the company was approximately **HK$2,537 thousand**, compared to a loss of approximately **HK$6,000 thousand** in the same period of 2024[89](index=89&type=chunk)[93](index=93&type=chunk) [BUSINESS REVIEW](index=27&type=section&id=BUSINESS%20REVIEW) The Group's travel media business revenue grew by 45.8% and recorded segment profit, financial magazines and other media business remained the primary revenue source, securities investment market value increased, money lending revenue was stable but recorded a segment loss, and the virtual reality business was deregistered with no further revenue - Travel media business revenue was approximately **HK$350 thousand**, a year-on-year increase of **45.8%**, accounting for approximately **1.8%** of the Group's total revenue, and recorded a segment profit of approximately **HK$168 thousand**; the Group plans to reallocate more resources to more profitable segments[90](index=90&type=chunk)[91](index=91&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk) - Financial magazines and other media business revenue was approximately **HK$17,822 thousand**, contributing **94%** of the Group's total revenue, with a segment profit of **HK$4,216 thousand**; the Group focuses on expanding advertising business on digital platforms and other media channels[96](index=96&type=chunk)[97](index=97&type=chunk)[101](index=101&type=chunk) - As of June 30, 2025, the total market value of investments held for trading in securities was approximately **HK$12 million** (2024: **HK$6.4 million**)[98](index=98&type=chunk)[102](index=102&type=chunk) - Money lending business revenue was approximately **HK$436 thousand**, accounting for approximately **2.3%** of the Group's total revenue[99](index=99&type=chunk)[103](index=103&type=chunk) - The virtual reality business generated no revenue during the six-month period, and its wholly-owned subsidiary was deregistered on February 8, 2025[100](index=100&type=chunk)[104](index=104&type=chunk) [FINANCIAL REVIEW](index=29&type=section&id=FINANCIAL%20REVIEW) The Group's liquidity primarily stems from internal cash flow, with both total equity and assets increasing, maintaining a stable capital structure without asset pledges; no fundraising activities occurred during the period, and while most assets and liabilities are denominated in SGD and HKD, management continues to monitor foreign currency risk, with no significant contingent liabilities, growing trading investments (none exceeding 5% of total assets), and stable employee numbers - The Group generally funds its operations through internally generated cash flows[105](index=105&type=chunk)[107](index=107&type=chunk) - As of June 30, 2025, total equity was approximately **HK$27,586 thousand** (December 31, 2024: **HK$24,788 thousand**), and total assets were approximately **HK$74,862 thousand** (December 31, 2024: **HK$65,961 thousand**)[105](index=105&type=chunk)[107](index=107&type=chunk) - As of June 30, 2025, the Group's consolidated net assets were **HK$27.6 million**, an increase of approximately **HK$2.8 million** from 2024[106](index=106&type=chunk)[108](index=108&type=chunk) - There were no fundraising activities or asset pledges during the six-month period[109](index=109&type=chunk)[110](index=110&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) - Most of the Group's assets, liabilities, and business transactions are denominated in Singapore Dollars and Hong Kong Dollars; no hedging was undertaken during the six-month period, and management will continue to closely monitor foreign currency risk[111](index=111&type=chunk)[115](index=115&type=chunk) - As of June 30, 2025, investments held for trading had a market value of **HK$11,968 thousand**, representing **16%** of total assets, with a fair value gain of **HK$353 thousand** during the period, and no single investment exceeding **5%** of total assets[116](index=116&type=chunk)[117](index=117&type=chunk)[118](index=118&type=chunk) - As of June 30, 2025, the Group had **27** full-time employees across Hong Kong, China, and Singapore, consistent with 2024[120](index=120&type=chunk)[123](index=123&type=chunk) [OUTLOOK](index=32&type=section&id=OUTLOOK) The Group remains committed to enhancing operational efficiency and profitability, actively seeking opportunities to expand its customer base and market share, and undertaking more projects that enhance shareholder value - The Group will continue to focus on improving business operational efficiency and profitability[121](index=121&type=chunk)[124](index=124&type=chunk) - The Group will actively seek opportunities to expand its customer base and market share, undertaking more projects to enhance shareholder value[121](index=121&type=chunk)[124](index=124&type=chunk) [INTERESTS AND SHORT POSITIONS OF DIRECTORS AND CHIEF EXECUTIVE IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY AND ITS ASSOCIATED CORPORATIONS](index=33&type=section&id=INTERESTS%20AND%20SHORT%20POSITIONS%20OF%20DIRECTORS%20AND%20CHIEF%20EXECUTIVE%20IN%20THE%20SHARES%2C%20UNDERLYING%20SHARES%20AND%20DEBENTURES%20OF%20THE%20COMPANY%20AND%20ITS%20ASSOCIATED%20CORPORATIONS) As of June 30, 2025, Executive Director Mr. Wang Tao held a long position in 2,119,950 share options of the company, representing 1.44% of the issued share capital; no other directors or chief executives held disclosable interests or short positions in the company's or its associated corporations' shares, underlying shares, or debentures Directors' Long Positions in the Company's Shares | Name | Capacity | Long/Short Position | Equity Derivatives (Share Options) | Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | :--- | | Mr. Wang Tao | Beneficial owner | Long position | 2,119,950 | 1.44% | - The relevant percentage is calculated with reference to the **147,540,930 shares** in issue as at June 30, 2025[127](index=127&type=chunk)[133](index=133&type=chunk) - Save as disclosed, no other directors had any disclosable interests or short positions in the shares, underlying shares or debentures of the company or any of its associated corporations[128](index=128&type=chunk)[129](index=129&type=chunk) [INTERESTS AND SHORT POSITIONS OF SUBSTANTIAL SHAREHOLDERS IN THE SHARES AND UNDERLYING SHARES OF THE COMPANY](index=35&type=section&id=INTERESTS%20AND%20SHORT%20POSITIONS%20OF%20SUBSTANTIAL%20SHAREHOLDERS%20IN%20THE%20SHARES%20AND%20UNDERLYING%20SHARES%20OF%20THE%20COMPANY) As of June 30, 2025, substantial shareholder Mr. Niu Chengjun held a long position in 22,336,184 shares of the company, representing 15.14% of the issued share capital; no other substantial shareholders held disclosable interests or short positions in the company's shares or underlying shares Substantial Shareholders' Long Positions in the Company's Shares | Name | Number of Shares | Number of Underlying Shares | Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Niu Chengjun | 22,336,184 (L) | – | 15.14% (L) | - The relevant percentage is calculated with reference to the **147,540,930 shares** in issue as at June 30, 2025[133](index=133&type=chunk) - Save as disclosed, no other person (other than directors and chief executive) had informed the company of any disclosable interests or short positions in the shares or underlying shares[133](index=133&type=chunk)[134](index=134&type=chunk) [PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SECURITIES](index=36&type=section&id=PURCHASE%2C%20SALE%20OR%20REDEMPTION%20OF%20THE%20COMPANY%27S%20LISTED%20SECURITIES) During the six-month period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - During the six-month period, neither the company nor any of its subsidiaries purchased, sold or redeemed any of the company's listed securities[135](index=135&type=chunk)[139](index=139&type=chunk) [COMPETING INTERESTS](index=36&type=section&id=COMPETING%20INTERESTS) During the six-month period, the Board was unaware of any business or interest of any director or their close associates that competed or might compete with the Group's business, nor any other conflicts of interest - During the six-month period, the Board was not aware of any business or interest of any director or their close associates that competed or might compete with the Group's business[136](index=136&type=chunk)[140](index=140&type=chunk) - The Board was also not aware of any other conflicts of interest that any such persons had or might have with the Group[136](index=136&type=chunk)[140](index=140&type=chunk) [SECURITIES TRANSACTIONS BY DIRECTORS](index=36&type=section&id=SECURITIES%20TRANSACTIONS%20BY%20DIRECTORS) The company has adopted the required standard of dealings in securities as set out in the GEM Listing Rules, and all directors confirmed compliance or no non-compliance during the six-month period upon specific enquiry - The company has adopted the required standard of dealings in securities as set out in Rules 5.48 to 5.67 of the GEM Listing Rules[137](index=137&type=chunk)[141](index=141&type=chunk) - All directors confirmed compliance with the required standard of dealings or no non-compliance during the six-month period[137](index=137&type=chunk)[141](index=141&type=chunk) [CORPORATE GOVERNANCE CODE COMPLIANCE](index=36&type=section&id=CORPORATE%20GOVERNANCE%20CODE%20COMPLIANCE) The company is committed to good corporate governance, emphasizing a high-quality board, sound internal controls, and enhanced transparency and accountability, having adopted and complied with the Corporate Governance Code provisions in Appendix C1 of the GEM Listing Rules during the reporting period - The company believes that good corporate governance is crucial for effective management, a healthy corporate culture, sustainable business growth, and enhancing shareholder value[138](index=138&type=chunk)[142](index=142&type=chunk) - The company's corporate governance principles emphasize a high-quality board, sound internal controls, and enhanced transparency and accountability[138](index=138&type=chunk)[142](index=142&type=chunk) - During the reporting period, the company adopted and complied with the code provisions of the Corporate Governance Code as set out in Appendix C1 to the GEM Listing Rules[143](index=143&type=chunk)[145](index=145&type=chunk) [AUDIT COMMITTEE](index=37&type=section&id=AUDIT%20COMMITTEE) The Audit Committee has reviewed the accounting principles and practices adopted by the Group, as well as the unaudited condensed consolidated financial statements for the six-month period - The Audit Committee has reviewed the accounting principles and practices adopted by the Group, as well as the unaudited condensed consolidated financial statements for the six-month period[144](index=144&type=chunk)[146](index=146&type=chunk)