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，並明確表示概不就本公告全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 承董事局命 中國恒有源發展集團有限公司 聯席主席 徐生恒 董事局會議通告 本公告乃依據香港聯合交易所有限公司（「聯交所」）創業板證券上市規則（「創業 板上市規則」）第17.48條作出。 中國恒有源發展集團有限公司（「本公司」）之董事（「董事」）局（「董事局」）謹此宣 佈，本公司將於二零二五年八月二十六日假座香港中環干諾道中62-63號中興商業 大廈八樓舉行董事局會議，以（其中包括）考慮及批准本公司及其附屬公司截至二 零二五年六月三十日止六個月之未經審核中期業績，並考慮建議派付中期股息（如 有）。 香港，二零二五年八月十二日 於本公告日期，董事局由執行董事徐生恒先生及戴祺先生，非執行董事廖原先生、 劉婀寧女士及張軼穎先生，以及獨立非執行董事張虹海先生、關成華先生及郭光 磊先生組成。 本公告的資料乃遵照《香港聯合交易所有限公司的GEM證券上市規則》而刊載， 旨在提供有關發行人的資料；董事願就本公告的資料共同及個 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國恒有源發展集團有限公司 呈交日期: 2025年7月31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) | 08128 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 16,000,000,000 | USD | | 0.01 | USD | | 160,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 16,000,000,000 | USD | | 0.01 | USD | | 160,000,000 | 本月 ...

Summary of Key Points Core Viewpoint - On July 23, 21 Hong Kong-listed companies conducted share buybacks, totaling 20.97 million shares and an aggregate amount of HKD 44.00 million [1][2]. Group 1: Buyback Details - VITASOY INT'L repurchased 1.402 million shares for HKD 12.98 million, with a highest price of HKD 9.260 and a lowest price of HKD 9.230, accumulating HKD 151.00 million in buybacks for the year [1][2]. - China Eastern Airlines repurchased 2.50 million shares for HKD 7.32 million, with a highest price of HKD 2.970 and a lowest price of HKD 2.900, totaling HKD 601.30 million in buybacks for the year [1][2]. - China Feihe repurchased 1.00 million shares for HKD 4.70 million, with a highest price of HKD 4.700, accumulating HKD 93.00 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on July 23 was from VITASOY INT'L at HKD 12.98 million, followed by China Eastern Airlines at HKD 7.32 million [1][2]. - In terms of share quantity, the most shares repurchased were by Shoujia Technology at 7.40 million shares, followed by China Eastern Airlines at 2.50 million shares [1][2].

Group 1 - China Hengyouyuan Group repurchased 1 million shares at an average price of 0.04 HKD per share, totaling approximately 40,000 HKD, with a cumulative repurchase of 6.296 million shares this year, representing 0.13% of the total share capital [1] - The company's stock price fell by 9.3% to 0.039 HKD per share as of the market close on the same day [1] - Stock buybacks are generally viewed as a positive signal from the company, indicating management's confidence in future development and potentially increasing earnings per share by reducing the number of shares in circulation [1] Group 2 - China Hengyouyuan Group is a Hong Kong-listed company primarily engaged in the energy sector, providing various energy solutions [2] - The company focuses on energy development, utilization, and related technology research and development, aiming to adapt to market demands and environmental requirements [2] - Through continuous investment in research and development and business expansion, the company seeks to gain a competitive advantage in the energy market [2]

Summary of Key Points Core Viewpoint - On July 7, 34 Hong Kong-listed companies conducted share buybacks, totaling 30.99 million shares and an aggregate amount of HKD 921 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 1.002 million shares for HKD 501 million, with a highest price of HKD 502.000 and a lowest price of HKD 494.400, bringing its total buyback amount for the year to HKD 38.542 billion [1][2]. - AIA Group repurchased 5.5 million shares for HKD 377 million, with a highest price of HKD 69.150 and a lowest price of HKD 68.050, totaling HKD 16.352 billion in buybacks for the year [1][2]. - Founder Holdings repurchased 10.386 million shares for HKD 1.174 million, with a highest price of HKD 1.150 and a lowest price of HKD 1.110, accumulating HKD 3.541 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on July 7 was from Tencent Holdings at HKD 501 million, followed by AIA Group at HKD 377 million [1][2]. - In terms of share quantity, Founder Holdings had the most significant buyback with 10.386 million shares, followed by AIA Group with 5.5 million shares and China Electric Power Technology with 2.26 million shares [1][2].

Summary of Key Points Core Viewpoint - On June 18, 35 Hong Kong-listed companies conducted share buybacks, totaling 26.35 million shares and an aggregate amount of HKD 938 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 990,000 shares for HKD 501 million, with a highest price of HKD 510.00 and a lowest price of HKD 503.50, bringing its total buyback amount for the year to HKD 32.54 billion [1][2]. - AIA Group repurchased 5.21 million shares for HKD 354 million, with a highest price of HKD 68.65 and a lowest price of HKD 67.70, totaling HKD 13.64 billion in buybacks for the year [1][2]. - Techtronic Industries repurchased 250,000 shares for HKD 21.77 million, with a highest price of HKD 87.60 and a lowest price of HKD 86.60, totaling HKD 99.37 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on June 18 was from Tencent Holdings at HKD 501 million, followed by AIA Group at HKD 354 million [1][2]. - In terms of share quantity, the most shares repurchased on June 18 were by Pacific Basin Shipping at 6 million shares, followed by AIA Group and COSCO Shipping at 5.21 million and 5 million shares, respectively [1][2].

| 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 97.50 | 50084.93 | 516.500 | 511.500 | 2853315.68 | | 01299 | 友邦保险 | 300.00 | 20382.49 | 69.000 | 67.150 | 1206539.55 | | 00670 | 中国东方航 空股份 | 220.00 | 648.42 | 2.970 | 2.920 | 49816.45 | | 01519 | 极兔速递-W | 92.00 | 626.52 | 6.870 | 6.730 | 25362.34 | | 09987 | 百胜中国 | 1.39 | 467.34 | 339.400 | 335.200 | 70033.89 | | 01907 | 中国旭阳集 团 | 165.00 | 412.92 | 2.5 ...

Core Insights - On June 3, 40 Hong Kong-listed companies conducted share buybacks, totaling 27.7357 million shares and an aggregate amount of HKD 1.079 billion [1][2] - Tencent Holdings led the buybacks with 994,000 shares repurchased for HKD 500 million, bringing its total buyback amount for the year to HKD 27.031 billion [1][2] - AIA Group followed with a buyback of 6 million shares for HKD 403 million, and Kuaishou-W repurchased 2 million shares for HKD 102 million [1][2] Buyback Details - Tencent Holdings: - Shares repurchased: 994,000 - Buyback amount: HKD 500 million - Highest price: HKD 505.000 - Lowest price: HKD 501.000 - Year-to-date total buyback: HKD 27.031 billion [2] - AIA Group: - Shares repurchased: 6 million - Buyback amount: HKD 403 million - Highest price: HKD 67.650 - Lowest price: HKD 66.550 - Year-to-date total buyback: HKD 11.412 billion [2] - Kuaishou-W: - Shares repurchased: 2 million - Buyback amount: HKD 102 million - Highest price: HKD 51.350 - Lowest price: HKD 50.950 - Year-to-date total buyback: HKD 1.911 billion [2] Other Notable Buybacks - Other companies with significant buybacks include: - Hengan International: 600,000 shares for HKD 13.13 million - China Eastern Airlines: 200,000 shares for HKD 592,760 [2] - The total buyback activity reflects a trend among companies to return capital to shareholders amid market conditions [1][2]

Financial Performance - The company recorded revenue of approximately HKD 69,629,000 for the fiscal year ending December 31, 2024, an increase of about HKD 1,769,000 compared to the same period in 2023[12]. - The profit for the year was approximately HKD 11,293,000, showing a significant increase compared to the previous year[12]. - The increase in revenue and profit was primarily due to higher gross margins, reduced administrative expenses, and recoveries of contract assets and receivables[12]. - For the fiscal year ending December 31, 2024, the company reported total revenue of approximately HKD 69,629,000, an increase of about 2.61% compared to HKD 67,860,000 for the previous year[27]. - The net profit for the fiscal year 2024 was approximately HKD 11,293,000, significantly up from HKD 4,722,000 in 2023, driven by increased gross profit and reduced administrative expenses[26]. - The gross profit margin improved to 18.26% in 2024, compared to 13.64% in 2023, reflecting a year-on-year increase of 33.87%[28]. - Operating maintenance revenue accounted for 53.08% of total revenue in 2024, rising from 40.02% in 2023, indicating a shift towards more stable income sources[22]. - Administrative expenses were reduced by 25% to approximately HKD 39,566,000 in 2024, down from HKD 52,758,000 in 2023, due to ongoing cost control measures[30]. - The group reported a revaluation gain of approximately HKD 2,507,000 on land and buildings as of December 31, 2024, which has been directly credited to the asset revaluation reserve[89]. - The fair value of investment properties decreased by HKD 548,000 during the year, with most properties being developed into geothermal energy demonstration leasing projects[91]. Strategic Focus and Development - The company is focusing on the development of geothermal heat pump systems, which are expected to reduce energy consumption by 50% compared to traditional methods while maintaining the same heating area[13]. - The company aims to become a supplier of integrated system products for efficient and clean heating using geothermal energy, replacing fossil fuels[14]. - The company has established two market development strategies: project agents and regional development partners, providing proprietary complete products and technical services[14]. - The company emphasizes the importance of innovation-driven development strategies and internal management reforms to adapt to market changes[14]. - The company is committed to achieving zero emissions and no combustion in heating areas through its new energy solutions[15]. - The company continues to focus on promoting shallow geothermal energy as a clean heating alternative, integrating various service capabilities across its business segments[35]. - The market for geothermal heat pumps is expected to expand significantly, with the company committed to technological innovation and green development as key growth drivers[20]. - The company aims to achieve operational carbon neutrality by 2030, positioning itself as a benchmark enterprise in green heating solutions[21]. Financial Management and Risk - The group had cash and cash equivalents of approximately HKD 52,586,000 as of December 31, 2024, down from HKD 69,553,000 in 2023[41]. - The debt ratio as of December 31, 2024, was approximately 49.0%, a decrease from 55.7% in 2023[46]. - The group employed approximately 193 employees as of December 31, 2024, down from 218 in 2023[47]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with 2023[49]. - The company faced liquidity challenges due to a declining business scale, with revenue decreasing while costs remain high, leading to severe liquidity shortages[199]. - The company plans to optimize operations through various measures, including adjusting asset structures and enhancing capital management to improve liquidity[199]. - A specialized collection team was established to address overdue payments, utilizing both conventional collection methods and legal actions for serious delinquencies[200]. - Strict measures were implemented for cash collection on new projects, including suspending non-critical construction activities if payments were delayed beyond agreed timelines[200]. - The company is actively optimizing project cash flow by enhancing operational service levels and targeting high-return projects with superior cash flow conditions[200]. - The management revised internal control procedures to strengthen financial reporting processes based on daily operational needs[200]. Governance and Compliance - The board of directors includes experienced professionals with backgrounds in finance, engineering, and strategic management, enhancing the company's strategic planning capabilities[64][65][66]. - The company has established an audit committee to oversee financial reporting, risk management, and internal controls[152]. - The company complied with the GEM Listing Rules Appendix C1 corporate governance code throughout the reporting period[160]. - The company faced a temporary non-compliance with the minimum number of independent non-executive directors required by GEM Listing Rules but rectified this after the annual general meeting on June 7, 2024[170]. - The company has mechanisms in place to ensure independent opinions are incorporated into board decisions, including annual reviews of the independent non-executive director's contributions[174]. - The company has confirmed the independence of its independent non-executive directors in accordance with GEM Listing Rules[177]. - The company has a diversity policy for its board, with a total of 8 directors, including 1 female (12.5%) and 7 males (87.5%); the total number of employees is 193, with 37 females (approximately 19%) and 156 males (approximately 81%)[182]. Shareholder Information - As of December 31, 2024, the total number of issued voting shares of the company is 4,505,573,163[1]. - Major shareholder China Energy Conservation (Hong Kong) Investment Co., Ltd. holds 1,190,000,000 shares, representing 26.41% of the voting shares[137]. - The 2024 Share Option Plan and 2024 Share Award Plan were approved on June 7, 2024, and received conditional listing approval on September 6, 2024[1]. - The purpose of the 2024 plans includes recognizing contributions of selected participants and encouraging retention to promote the group's ongoing development[1]. - The total number of shares that can be issued under the 2024 Share Option Plan and the 2024 Share Award Plan is 452,692,516 shares, representing approximately 10.05% of the issued shares as of December 31, 2024[130]. - The total fees paid or payable to the external auditor for statutory audit and non-audit services for the year ended December 31, 2024, amounted to HKD 1,644,000[188]. Employee and Community Engagement - The company emphasizes employee welfare, ensuring reasonable compensation and a safe working environment[106]. - No workplace accidents leading to strikes or fatalities were reported during the year[106]. - The company made charitable donations amounting to RMB 200,000 (approximately HKD 219,260) during the year[99]. - The company has provided training to all directors to enhance their knowledge and skills regarding their collective responsibilities and the group's business[177].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 69,629,000, representing an increase of 2.6% from HKD 67,860,000 in the previous year[4]. - Gross profit for the year was HKD 12,717,000, up 37.5% from HKD 9,259,000 in 2023[4]. - The net profit for the year was HKD 11,293,000, a significant increase of 138.5% compared to HKD 4,722,000 in the prior year[4]. - Basic and diluted earnings per share increased to HKD 0.24 from HKD 0.21, reflecting a growth of 14.3%[4]. - Other income and gains rose to HKD 26,626,000, compared to HKD 16,816,000 in the previous year, marking an increase of 58.5%[4]. - The total comprehensive income for the year was HKD 20,124,000, compared to a loss of HKD 6,102,000 in 2023[5]. - The company reported a pre-tax profit of HKD 10,941,000 for the year ended December 31, 2024, compared to HKD 7,091,000 in 2023, marking an increase of approximately 54%[21]. - Net profit for the year ended December 31, 2024, was approximately HKD 11,293,000, a significant increase from HKD 4,722,000 in the previous year, driven by higher gross profit and reduced administrative expenses[41]. Assets and Liabilities - Non-current assets decreased to HKD 398,981,000 from HKD 426,412,000, a decline of 6.4%[6]. - Current assets decreased significantly from HKD 778,487,000 to HKD 457,820,000, a drop of 41.2%[6]. - Total liabilities decreased from HKD 926,309,000 to HKD 569,701,000, a reduction of 38.6%[7]. - The total assets of the company as of December 31, 2024, amounted to HKD 856,801,000, compared to HKD 1,204,899,000 in 2023, reflecting a decrease of approximately 29%[21]. - The total liabilities for the year ended December 31, 2024, were HKD 572,701,000, down from HKD 926,309,000 in 2023, a reduction of about 38%[21]. - The company's net current liabilities improved to approximately HKD 10,168,000 from HKD 29,308,000 in the previous year[54]. - The debt ratio decreased to approximately 49.0% as of December 31, 2024, compared to 55.7% in the previous year[58]. Segment Performance - The group operates in four main segments: shallow geothermal energy systems, air energy/shallow geothermal heat pump products, property investment for potential rental income, and securities investment for strategic purposes[10][18]. - Revenue from contracts with customers was HKD 63,627,000 for 2024, up from HKD 62,212,000 in 2023, indicating a year-over-year increase of about 2.3%[25]. - The segment profit for the air energy division was HKD 3,283,000, while the geothermal energy segment reported a loss of HKD 3,412,000, resulting in a total segment performance of HKD 7,572,000[20]. - The air energy segment generated external sales of HKD 62,918,000, while the geothermal energy segment contributed HKD 709,000 to external sales[20]. Administrative and Operational Changes - Administrative expenses decreased by 25% to approximately HKD 39,566,000 from HKD 52,758,000 in the previous year, attributed to cost control measures[44]. - The company is undergoing a management transformation and organizational restructuring to enhance operational efficiency and budget execution capabilities[80]. - The group’s performance evaluation is based on adjusted profit before tax, excluding certain income and costs, to assess resource allocation and performance across its segments[16]. Shareholder and Governance Matters - The company did not declare any final dividends for the years ended December 31, 2024, and 2023[33]. - The board of directors consists of both executive and independent non-executive members, ensuring a diverse governance structure[91]. - The 2020 Share Incentive Plan was approved on January 15, 2020, allowing for a total of 98,000,000 shares to be granted, representing approximately 2.18% of the company's issued shares as of the announcement date[60]. - The 2024 Share Option Plan and 2024 Share Incentive Plan were approved on June 7, 2024, allowing for a total of 452,692,516 shares to be issued, which is up to 10% of the issued shares as of the adoption date[65]. Compliance and Regulatory Matters - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which include significant changes in lease liabilities and classification of liabilities[11][12]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating a cautious approach to regulatory changes[12][15]. - The company has complied with the GEM Listing Rules, except for a temporary non-compliance regarding the minimum number of independent non-executive directors[82]. Cash Flow and Financing - The company had cash and cash equivalents of approximately HKD 52,586,000 as of December 31, 2024, down from HKD 69,553,000 in the previous year[54]. - Financing costs decreased to HKD 3,544,000 in 2024 from HKD 4,175,000 in 2023, primarily due to lower interest on borrowings[28]. - The company holds repurchased shares as treasury shares, allowing for flexibility in raising additional funds or for other permitted uses under GEM listing rules[89]. Research and Development - Research and development costs were reduced to HKD 822,000 in 2024 from HKD 1,931,000 in 2023, indicating a strategic shift in investment[29]. - The company is focusing on the commercialization of innovative shallow geothermal energy technologies for winter heating, aiming for a transition to a zero-emission heating solution[79].