[Report Overview](index=2&type=section&id=%E6%8A%A5%E5%91%8A%E6%A6%82%E8%A7%88) [GEM Market Features and Disclaimer](index=2&type=section&id=GEM%E5%B8%82%E5%9C%BA%E7%89%B9%E8%89%B2%E4%B8%8E%E5%85%8D%E8%B4%A3%E5%A3%B0%E6%98%8E) This section outlines the GEM market's high-risk platform for SMEs, emphasizing investor caution and the directors' responsibility for report accuracy - GEM market positions itself as a listing platform for high-investment-risk small and medium-sized companies, requiring investors to understand potential risks[2](index=2&type=chunk) - Hong Kong Exchanges and Clearing Limited and the Stock Exchange disclaim responsibility for this report's content, with company directors fully accountable for its accuracy and completeness[2](index=2&type=chunk) [Summary](index=3&type=section&id=%E6%91%98%E8%A6%81) This summary highlights the Group's key financial performance for the six months ended June 30, 2025, including turnover, gross profit, loss attributable to owners, and loss per share, with no dividend recommended 2025 H1 Key Financial Indicators | Indicator | 2025 H1 (RMB) | 2024 H1 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Consolidated Turnover | 226,407,014 | 211,568,049 | 7.01% Increase | | Consolidated Gross Profit | 13,820,662 | 12,115,570 | 14.07% Increase | | Loss Attributable to Owners of the Company | (6,426,384) | (4,123,183) | 55.86% Loss Widening | | Loss Per Share | 0.317 cents | 0.218 cents | 45.41% Loss Widening | | Dividend | Not Recommended | Not Recommended | No Change | [Financial Statements](index=4&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Condensed Consolidated Statement of Profit or Loss](index=4&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E6%8D%9F%E7%9B%8A%E8%B4%A6) This section presents the unaudited condensed consolidated statement of profit or loss for the six months ended June 30, 2025, detailing key financial figures and comparative data Condensed Consolidated Statement of Profit or Loss (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Turnover | 226,407,014 | 211,568,049 | | Cost of Sales | (212,586,352) | (199,452,479) | | Gross Profit | 13,820,662 | 12,115,570 | | Other Income and Gains/Losses, Net | 235,587 | (50,195) | | Selling and Distribution Costs | (3,960,302) | (7,053,114) | | Research and Development and Administrative Expenses | (16,551,751) | (8,559,614) | | Finance Costs | (1,973,895) | (1,977,660) | | (Loss)/Profit Before Tax | (8,429,699) | (5,525,013) | | Income Tax | – | – | | (Loss)/Profit for the Period | (8,429,699) | (5,525,013) | | (Loss)/Profit for the Period Attributable to Owners of the Company | (6,426,384) | (4,123,183) | | (Loss)/Profit for the Period Attributable to Non-controlling Interests | (2,003,313) | (1,401,830) | | Loss Per Share – Basic (RMB) | 0.317 cents | 0.218 cents | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) This section presents the unaudited condensed consolidated statement of financial position as of June 30, 2025, detailing assets, liabilities, and equity, with comparative audited data Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Total Non-current Assets | 98,078,794 | 98,533,260 | | Total Current Assets | 317,084,756 | 233,993,789 | | Total Assets | 415,163,551 | 332,527,049 | | Total Current Liabilities | 287,372,895 | 279,065,167 | | Net Current Assets | 29,711,861 | (45,071,379) | | Total Non-current Liabilities | 26,884,872 | 25,021,945 | | Net Assets | 100,905,783 | 28,439,937 | | Equity Attributable to Owners of the Company | 96,618,228 | 22,149,069 | | Total Equity | 100,905,783 | 28,439,937 | [Condensed Consolidated Statement of Cash Flows](index=7&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) This section presents the unaudited condensed consolidated statement of cash flows for the six months ended June 30, 2025, detailing cash flows from operating, investing, and financing activities Condensed Consolidated Statement of Cash Flows (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (98,397,585) | 8,044,015 | | Net Cash Used in Investing Activities | 6,718,101 | (748,742) | | Net Cash Used in Financing Activities | 78,550,043 | 4,970,000 | | Net Decrease in Cash and Bank Balances | (13,129,441) | 12,265,273 | | Cash and Bank Balances at End of Period | 52,270,511 | 18,199,595 | [Condensed Consolidated Statement of Changes in Equity](index=14&type=section&id=%E7%AE%80%E6%98%8E%E7%BB%BC%E5%90%88%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) This section details the condensed consolidated statement of changes in equity for the six months ended June 30, 2025, showing movements in equity components and profit attributable to owners Condensed Consolidated Statement of Changes in Equity (For the Six Months Ended June 30) | Indicator | June 30, 2025 (RMB) | June 30, 2024 (RMB) | | :--- | :--- | :--- | | Share Capital | 213,390,000 | 189,450,000 | | Share Premium | 332,272,982 | 275,317,438 | | Accumulated Losses | (435,921,450) | (405,816,010) | | Total Equity Attributable to Owners of the Company | 96,618,228 | 45,828,125 | | Profit Attributable to Owners of the Company for the Period | (6,426,384) | (4,123,183) | | Impact of Share Issuance | 80,895,544 | 0 | [Notes to the Financial Statements](index=8&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%99%84%E6%B3%A8) [Basis of Presentation and Accounting Policies](index=8&type=section&id=%E5%91%88%E6%8A%A5%E5%9F%BA%E6%BA%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96) This section explains the financial statements' preparation under historical cost, HKFRSs, and GEM Listing Rules, noting no significant impact from new standards and a going concern basis - Financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, Hong Kong Generally Accepted Accounting Principles, Hong Kong Companies Ordinance, and GEM Listing Rules[8](index=8&type=chunk) - The Group's adoption of new and revised HKFRSs has no significant impact on its unaudited operating results and financial position[8](index=8&type=chunk) - Financial statements are prepared on a going concern basis, assuming the Group will continue its operations indefinitely[8](index=8&type=chunk) [Revenue Analysis](index=8&type=section&id=%E6%94%B6%E7%9B%8A%E5%88%86%E6%9E%90) This section details the Group's revenue composition for the six months ended June 30, 2025, primarily from fertilizer products and elderly care and health, with comparative data Revenue Composition (For the Six Months Ended June 30) | Business Segment | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Fertilizer Products | 182,987,005 | 211,314,827 | | Elderly Care and Health | 43,420,010 | 253,222 | | **Total** | **226,407,014** | **211,568,049** | - Elderly care and health business revenue significantly increased from **RMB 253,222** in H1 2024 to **RMB 43,420,010** in H1 2025, driving group revenue growth[9](index=9&type=chunk) - Fertilizer product revenue decreased year-on-year from **RMB 211,314,827** to **RMB 182,987,005**[9](index=9&type=chunk) [Finance Costs](index=8&type=section&id=%E8%9E%8D%E8%B5%84%E6%88%90%E6%9C%AC) This section discloses finance costs for the six months ended June 30, 2025, primarily bank loan interest and charges, showing a slight year-on-year decrease Finance Costs (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Interest Expense on Bank Loans and Bank Charges | 1,973,895 | 1,977,660 | | **Total** | **1,973,895** | **1,977,660** | - Finance costs decreased by **0.19%** year-on-year, indicating stable cost control in financing[10](index=10&type=chunk) [Taxation Policy and Expenses](index=9&type=section&id=%E7%A8%85%E9%A1%B9%E6%94%BF%E7%AD%96%E4%B8%8E%E5%BC%80%E6%94%AF) This section details the Group's income tax policies, including statutory rates, preferential rates for high-tech and small enterprises, and tax situations in various jurisdictions, reporting zero income tax expense for the period - China's statutory income tax rate is **25%**[11](index=11&type=chunk) - Guangdong Fulilong Compound Fertilizer Co., Ltd., as a high-tech enterprise, enjoys a **15%** preferential tax rate, with its qualification extended for three years[11](index=11&type=chunk) - Certain Chinese subsidiaries qualify as small enterprises, benefiting from a **5%** preferential income tax rate[11](index=11&type=chunk) - For the half-year ended June 30, 2025, the Group had no taxable income in Hong Kong and China, resulting in zero income tax expense[11](index=11&type=chunk)[12](index=12&type=chunk) [Loss Per Share Calculation](index=10&type=section&id=%E6%AF%8F%E8%82%A1%E4%BA%8F%E6%8D%9F%E8%AE%A1%E7%AE%97) This section provides the basis for calculating basic loss per share for the six months ended June 30, 2025, including loss attributable to owners and the weighted average number of ordinary shares Basic Loss Per Share Calculation (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Loss for Calculation of Basic Loss Per Share | (6,426,384) | (4,123,183) | | Weighted Average Number of Ordinary Shares | 2,024,487,845 | 1,894,500,000 | | Basic Loss Per Share | 0.317 cents | 0.218 cents | [Additions to Property, Plant and Equipment](index=10&type=section&id=%E7%89%A9%E4%B8%9A%E3%80%81%E5%8E%82%E6%88%BF%E5%8F%8A%E8%AE%BE%E5%A4%87%E6%B7%BB%E7%BD%AE) This section discloses the Group's capital expenditure on additions to property, plant and equipment for the six months ended June 30, 2025, indicating an increase in investment Additions to Property, Plant and Equipment (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Additions to Property, Plant and Equipment | 834,918 | 613,742 | - Capital expenditure on property, plant, and equipment increased by approximately **36%** year-on-year[14](index=14&type=chunk) [Trade and Bills Receivables](index=11&type=section&id=%E5%BA%94%E6%94%B6%E8%B4%B8%E6%98%93%E8%B4%A6%E6%AC%BE%E5%8F%8A%E7%A5%A8%E6%AC%BE) This section provides a detailed analysis of trade and bills receivables as of June 30, 2025, including aging distribution and provision for doubtful debts, showing a significant increase in net trade receivables Trade and Bills Receivables (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Trade Receivables | 129,353,680 | 105,971,674 | | Less: Provision for Doubtful Debts | (95,136,104) | (95,153,154) | | **Trade Receivables, Net** | **34,217,576** | **10,818,520** | | Bills Receivable | – | – | Aging Analysis of Trade Receivables (As of June 30) | Aging | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Within 3 Months | 29,372,239 | 1,257,380 | | Over 3 Months but Within 6 Months | 62,237 | 3,717,203 | | Over 6 Months | 4,783,099 | 5,843,937 | - Net trade receivables significantly increased from **RMB 10,818,520** at the end of 2024 to **RMB 34,217,576** as of June 30, 2025, primarily driven by an increase in receivables within three months[16](index=16&type=chunk) [Prepayments and Other Receivables](index=12&type=section&id=%E9%A2%84%E4%BB%98%E6%AC%BE%E9%A1%B9%E5%8F%8A%E5%85%B6%E4%BB%96%E5%BA%94%E6%94%B6%E6%AC%BE%E9%A1%B9) This section lists the composition of prepayments and other receivables as of June 30, 2025, including other receivables (net of provision for doubtful debts) and deposits and prepayments, showing a significant increase in the total amount Prepayments and Other Receivables (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Other Receivables (Net) | 12,749,745 | 3,490,539 | | Deposits and Prepayments | 133,859,849 | 78,976,908 | | **Total** | **146,609,595** | **82,467,447** | - Total prepayments and other receivables increased by approximately **77.8%** from **RMB 82,467,447** at the end of 2024 to **RMB 146,609,595** as of June 30, 2025[17](index=17&type=chunk) [Trade Payables](index=12&type=section&id=%E5%BA%94%E4%BB%98%E8%B4%B8%E6%AC%BE) This section provides an aging analysis of trade payables as of June 30, 2025, indicating a substantial increase in trade payables within three months Aging Analysis of Trade Payables (As of June 30) | Aging | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Within 3 Months | 27,782,169 | 2,180,601 | | Over 3 Months but Within 6 Months | 20,467 | 166,500 | | Over 6 Months | 5,281,368 | 6,584,577 | | **Total** | **33,084,003** | **8,931,678** | - Total trade payables increased from **RMB 8,931,678** at the end of 2024 to **RMB 33,084,003** as of June 30, 2025, with the primary increase in payables within three months[18](index=18&type=chunk) [Other Payables, Accruals and Contract Liabilities](index=13&type=section&id=%E5%85%B6%E4%BB%96%E5%BA%94%E4%BB%98%E6%AC%BE%E9%A1%B9%E3%80%81%E5%BA%94%E8%AE%A1%E6%AC%BE%E9%A1%B9%E5%8F%8A%E5%90%88%E7%B4%84%E8%B4%9F%E5%80%BA) This section details the composition of other payables, accruals, and contract liabilities as of June 30, 2025, showing a significant increase in total other payables Other Payables, Accruals and Contract Liabilities (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Other Payables | 58,578,315 | 31,008,970 | | Consideration for Acquisition of a Subsidiary | 2,206,900 | 2,206,900 | | Accruals | 4,141,108 | 6,278,834 | | Advances Received | 13,379,852 | 13,379,852 | | Amounts Due to Directors | 322,381 | 315,000 | | Social Welfare Funds Payable | 2,965,152 | 2,965,152 | | **Total** | **81,593,708** | **56,154,708** | - Total other payables, accruals, and contract liabilities increased by approximately **45.3%** from **RMB 56,154,708** at the end of 2024 to **RMB 81,593,708** as of June 30, 2025[19](index=19&type=chunk) [Share Capital Structure](index=13&type=section&id=%E8%82%A1%E6%9C%AC%E7%BB%93%E6%9E%84) This section discloses the Group's share capital structure as of June 30, 2025, including authorized and issued share capital, showing a significant increase in domestic shares Share Capital Structure (As of June 30) | Indicator | June 30, 2025 (Number of Shares/RMB Thousand) | December 31, 2024 (Number of Shares/RMB Thousand) | | :--- | :--- | :--- | | Authorized Share Capital (Number of Shares) | 2,133,900,000 | 1,894,500,000 | | Authorized Share Capital (Par Value) | 213,390 | 189,450 | | Issued Domestic Shares (Number of Shares) | 1,436,400,000 | 697,500,000 | | Issued Domestic Shares (Par Value) | 143,640 | 69,750 | | Issued H Shares (Number of Shares) | 697,500,000 | 1,197,000,000 | | Issued H Shares (Par Value) | 69,750 | 119,700 | | **Total Issued and Fully Paid Share Capital (Number of Shares)** | **2,133,900,000** | **1,894,500,000** | | **Total Issued and Fully Paid Share Capital (Par Value)** | **213,390** | **189,450** | - The number of domestic shares significantly increased from **697,500,000** at the end of 2024 to **1,436,400,000** as of June 30, 2025, while H shares decreased accordingly[20](index=20&type=chunk) [Capital Commitments and Contingent Liabilities](index=13&type=section&id=%E8%B5%84%E6%9C%AC%E6%89%BF%E6%8B%85%E4%B8%8E%E6%88%96%E7%84%B6%E8%B4%9F%E5%80%BA) This section states that as of June 30, 2025, the Group had no significant unprovided capital commitments and zero contingent liabilities - As of June 30, 2025, the Group had no significant capital commitments not provided for in the condensed consolidated financial statements[21](index=21&type=chunk) - The Company's contingent liabilities for guarantees on bank facilities granted to certain subsidiaries were **RMB 0** (June 2024: RMB 0)[22](index=22&type=chunk) [Management Discussion and Analysis](index=15&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E5%8F%8A%E5%88%86%E6%9E%90) [Business Review](index=15&type=section&id=%E4%B8%9A%E5%8A%A1%E5%9B%9E%E9%A1%A7) This section reviews the Group's operations, market performance, strategic layout, and key collaborations across its bio-compound fertilizer, AI medical elderly care, and data businesses - The Group currently operates in three main business areas: bio-compound fertilizer, AI medical elderly care, and data services[25](index=25&type=chunk) [Bio-Compound Fertilizer Business](index=15&type=section&id=%E7%94%9F%E7%89%A9%E5%A4%8D%E5%90%88%E8%82%A5%E4%B8%9A%E5%8A%A1) The Group's bio-compound fertilizer business encompasses R&D, production, and sales, featuring a diverse product range and an integrated information-based management model, with an analysis of H1 2025 market trends - The Group's compound fertilizer products include high-tower compound fertilizer, sulfur-based compound fertilizer, chlorine-based compound fertilizer, and nitro-based compound fertilizer, suitable for both field crops and cash crops[28](index=28&type=chunk) - The company has established a comprehensive operational management model covering procurement, production, marketing, logistics, and finance through information technology development[28](index=28&type=chunk) [Industry Overview and Market Trends](index=16&type=section&id=%E8%A1%8C%E4%B8%9A%E6%A6%82%E5%86%B5%E4%B8%8E%E5%B8%82%E5%9C%BA%E8%B6%8B%E5%8A%BF) In H1 2025, the compound fertilizer market saw potash prices rise 15-20%, with overall prices fluctuating, while downstream demand remained steady, highlighting market upgrade potential - In H1 2025, potash fertilizer prices increased by **15%-20%**, becoming a key driver of rising compound fertilizer costs[26](index=26&type=chunk) - Compound fertilizer prices exhibited a differentiated trend of "rising in Q1 and high-level fluctuations in Q2"[26](index=26&type=chunk) - Downstream demand showed steady growth, with structural optimization and regional vitality highlighting market upgrade potential, particularly strong resilience in economic crops[26](index=26&type=chunk) - Market trends necessitate fertilizer enterprises to continuously develop new products, enhance quality and efficacy, and strengthen environmental protection facilities[29](index=29&type=chunk) [The Group's Operating Model](index=17&type=section&id=%E6%9C%AC%E9%9B%86%E5%9B%A2%E8%BF%90%E8%90%A5%E6%A8%A1%E5%BC%8F) The Group's compound fertilizer business employs strategic and order-based procurement, operates two production bases, utilizes a dealer-centric marketing model with e-commerce, and manages logistics through external partnerships - Procurement combines strategic and order-based approaches, maintaining long-term partnerships with major raw material suppliers[30](index=30&type=chunk) - Production is sales-driven, with facilities in Weifang, Shandong, and Dongguan, Guangdong, and new products like liquid and water-soluble compound fertilizers introduced[31](index=31&type=chunk) - Marketing primarily relies on dealer distribution, establishing the well-known "Fulilong" brand, and developing an e-commerce sales platform[31](index=31&type=chunk) - The logistics department collaborates with external transport providers to manage raw material and finished product warehousing and distribution, reducing costs[32](index=32&type=chunk) [AI Medical Elderly Care Business](index=19&type=section&id=AI%E5%8C%BB%E7%96%97%E5%85%BB%E8%80%81%E4%B8%9A%E5%8A%A1) The Group integrates traditional elderly care with AI medical large model technology, raising capital to establish Boya Quan Jian, and collaborating with top hospitals and computing power providers to develop the "Xihe-1" medical large model and a pre-diagnosis and triage integrated machine - The Group's core elderly care team has operated since 1999, introducing Japanese "personalized, quality-oriented" concepts to establish "Ruifu Elderly Care" in Shanghai, managing 50 institutions[33](index=33&type=chunk) - To support the AI medical large model strategy, two share placements in H1 2025 raised approximately **HKD 88.8 million** net, for AI medical health software platform acquisition and development[34](index=34&type=chunk) - Beijing Boya Quan Jian Smart Computing Technology Co., Ltd. was established in collaboration with a Peking University Health Science Center affiliated hospital, focusing on deep integration of AI and medical health technology[35](index=35&type=chunk) [Elderly Care Service Foundation](index=19&type=section&id=%E9%A4%8A%E8%80%81%E6%9C%8D%E5%8A%A1%E5%9F%BA%E7%A1%80) The Group's "Ruifu Elderly Care" brand manages 50 Shanghai elderly care institutions, leveraging extensive operational experience and actively expanding rehabilitation aid rental services - "Ruifu Elderly Care" manages **50** elderly care institutions in Shanghai, including nursing homes, day care centers, elder care homes, and integrated elderly service centers[33](index=33&type=chunk) - "Ruifu Elderly Care" managed nursing homes received the first batch of Shanghai's Grade III elderly care institution titles and actively engage in rehabilitation aid rental services[33](index=33&type=chunk) [AI Medical Strategy and "Xihe-1" Large Model](index=19&type=section&id=AI%E5%8C%BB%E7%96%97%E6%88%98%E7%95%A5%E4%B8%8E%E2%80%9C%E7%BE%B2%E5%92%8C%E4%B8%80%E5%8F%B7%E2%80%9D%E5%A4%A7%E6%A8%A1%E5%9E%8B) The Group, through Boya Quan Jian, collaborated with a Peking University Health Science Center affiliated hospital to develop the bilingual "Xihe-1" medical large model, trained on millions of real closed-source medical cases, driving decisions with pathological evidence and combining natural language interaction with traceable knowledge reasoning to enhance clinical intelligence and rigor; concurrently, it partnered with Suihong Huachuang to develop a pre-diagnosis and triage integrated machine for grassroots medical areas - Boya Quan Jian, in collaboration with Peking University Third Hospital, developed the bilingual Chinese-English "Xihe-1" medical large model over ten years, featuring hundreds of billions of parameters[36](index=36&type=chunk) - "Xihe-1" is trained on millions of real closed-source patient cases from Peking University Third Hospital, achieving extremely low hallucination rates, over **90%** accuracy, **98%** medical student knowledge coverage, and over **90%** precision[36](index=36&type=chunk) - The model uses pathological images and reports as core evidence to establish causal links, ensuring traceable and evidence-based diagnostic reasoning, significantly reducing "hallucination" issues[37](index=37&type=chunk) - "Xihe-1" employs a "natural language interaction + traceable knowledge reasoning" dual engine to enhance the intelligence and rigor of doctors' clinical decisions[38](index=38&type=chunk) - A "Xihe-1" pre-diagnosis and triage integrated machine was jointly developed with Suihong Huachuang, targeting promotion in grassroots medical areas[38](index=38&type=chunk) [Data Business](index=22&type=section&id=%E6%95%B0%E6%8D%AE%E4%B8%9A%E5%8A%A1) To support AI medical elderly care, the Group established Yishu Jingcheng, a Deep Computing Institute core partner, offering data governance services and forming strategic alliances with Peking University Third Hospital, the Deep Computing Institute, and China Telecom Digital Intelligence Technology Co., Ltd. Ningxia Branch to build an AI medical health ecosystem - High-quality, secure, and available medical big data is essential for training, application, and personalized services of medical large models[39](index=39&type=chunk) - The Group established Shenzhen Yishu Jingcheng Technology Co., Ltd., a controlling subsidiary, to engage in data governance, providing high-quality data for AI medical large models and full-process data services for medical institutions and government departments[40](index=40&type=chunk) [Data Governance and Ecosystem Collaboration](index=23&type=section&id=%E6%95%B0%E6%8D%AE%E6%B2%BB%E7%90%86%E4%B8%8E%E7%94%9F%E6%80%81%E5%90%88%E4%BD%9C) Yishu Jingcheng, a Deep Computing Institute core partner, provides data governance services, collaborating with Peking University Third Hospital for "Xihe-1" training data, signing an ecosystem agreement with the Deep Computing Institute, and partnering with China Telecom Digital Intelligence Technology Co., Ltd. Ningxia Branch to build an AI medical health ecosystem and industrial park - Yishu Jingcheng, as an officially certified core ecological partner of the Deep Computing Institute, integrates its Yasan database, Caishiji data quality system, and Diaoyucheng data analysis system to provide data governance services[40](index=40&type=chunk)[41](index=41&type=chunk) - Boya Quan Jian and Peking University Third Hospital formed a strategic partnership, with the hospital providing millions of ethically reviewed and de-identified real patient case data for "Xihe-1" training[40](index=40&type=chunk) - Yishu Jingcheng signed an ecological cooperation agreement with the Deep Computing Institute, establishing a "market-side + technology-side" collaborative mechanism, with the Institute providing technical support and training[41](index=41&type=chunk) - Boya Quan Jian and China Telecom Digital Intelligence Technology Co., Ltd. Ningxia Branch signed a strategic cooperation agreement to jointly build a medical health ecosystem platform and the Ningxia "AI + Medical Health" Industrial Park[42](index=42&type=chunk) [Financial Review](index=25&type=section&id=%E8%B4%A2%E5%8A%A1%E5%9B%9E%E9%A1%A7) This section reviews the Group's H1 2025 financial performance, including turnover growth, gross profit improvement, cost changes, expanded loss, and an analysis of liquidity, financial resources, and capital structure [Operating Results Analysis](index=25&type=section&id=%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%88%86%E6%9E%90) The Group's H1 2025 turnover increased by 7.01%, driven by elderly care and health, with consolidated gross profit up 14.07% and gross profit margin rising to 6.10%, reflecting revenue growth and cost optimization Turnover, Gross Profit and Gross Profit Margin (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Turnover | 226,407,014 | 211,568,049 | 7.01% Increase | | Consolidated Gross Profit | 13,820,662 | 12,115,570 | 14.07% Increase | | Operating Consolidated Gross Profit Margin | 6.10% | 5.73% | 0.37 Percentage Point Increase | - Revenue growth primarily stemmed from the rapid development of the elderly care and health business segment[43](index=43&type=chunk) - The company continuously strengthened cost control, effectively managing cost growth, leading to increased gross profit and gross profit margin[43](index=43&type=chunk) [Cost and Expense Analysis](index=25&type=section&id=%E6%88%90%E6%9C%AC%E4%B8%8E%E5%BC%80%E6%94%AF%E5%88%86%E6%9E%90) In H1 2025, the Group's selling and distribution costs decreased by 43.85% due to expense control, while R&D and administrative expenses surged by 93.37% reflecting AI medical and data business investments, and finance costs slightly declined by 0.19% Costs and Expenses (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Selling and Distribution Costs | 3,960,302 | 7,053,114 | 43.85% Decrease | | Research and Development and Administrative Expenses | 16,551,751 | 8,559,614 | 93.37% Increase | | Finance Costs | 1,973,895 | 1,977,660 | 0.19% Decrease | - The decrease in selling and distribution costs was primarily due to the Group's enhanced expense control, achieving cost reduction and efficiency improvement through travel reimbursement system reforms and refined channel management[44](index=44&type=chunk) - The significant increase in R&D and administrative expenses is likely related to the Group's investments in AI medical large models and data business[45](index=45&type=chunk) [Financial Position and Liquidity](index=25&type=section&id=%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5%E4%B8%8E%E6%B5%81%E5%8A%A8%E6%80%A7) As of June 30, 2025, loss attributable to owners expanded to RMB 6,426,384, with loss per share at 0.317 cents; total assets and shareholders' equity significantly increased, and an improved current ratio of 1.10, along with reduced asset-liability and capital-to-debt ratios, indicates an optimized financial structure Loss for the Period and Loss Per Share (For the Six Months Ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Loss Attributable to Owners of the Company | 6,426,384 | 4,123,183 | 55.86% Loss Widening | | Loss Per Share | 0.317 cents | 0.218 cents | 45.41% Loss Widening | Liquidity and Capital Structure (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Bank and Cash Balances | 52,270,511 | 65,399,950 | | Short-term Borrowings | 83,830,000 | 134,670,000 | | Total Assets | 415,163,551 | 332,527,049 | | Total Current Liabilities | 287,372,895 | 279,065,167 | | Shareholders' Equity | 100,905,783 | 28,439,937 | | Consolidated Asset-Liability Ratio | 0.76 | 0.91 | | Capital-to-Debt Ratio | 0.24 | 0.45 | | Current Ratio | 1.10 | 0.84 | - The Group's primary funding sources are bank financing and funds raised through share placements[48](index=48&type=chunk) - The current ratio improved from **0.84** to **1.10**, indicating enhanced short-term solvency[49](index=49&type=chunk) - Both the asset-liability ratio and capital-to-debt ratio decreased, signifying reduced financial leverage and an optimized financial structure[49](index=49&type=chunk) [Risk Management and Treasury Policy](index=26&type=section&id=%E9%A3%8E%E9%99%A9%E7%AE%A1%E7%90%86%E4%B8%8E%E5%BA%93%E5%8A%A1%E6%94%BF%E7%AD%96) As of June 30, 2025, the Group had no pledged assets or contingent liabilities, minimal foreign currency risk due to RMB settlements, and a treasury policy of RMB-denominated bank borrowings and cash deposits in China - As of June 30, 2025, the Group and the Company had contingent liabilities of **RMB 0** for guarantees provided on bank loans granted to its subsidiaries[50](index=50&type=chunk) - The Group faces minimal foreign currency risk as all sales and payments are settled in RMB[51](index=51&type=chunk) - The Group's treasury policy involves settling bank borrowings in RMB and renewing them annually, with any cash balances deposited in licensed banks in China[52](index=52&type=chunk) [Future Outlook](index=27&type=section&id=%E6%9C%AA%E6%9D%A5%E5%B1%95%E6%9C%9B) The company will prioritize AI medical large model and data business R&D and commercialization, deepening collaborations to advance AI vertical medical large models and data services, and integrating them into existing elderly care to enhance medical efficiency and quality - The company will continue collaborating with top-tier hospitals like Peking University Third Hospital and Peking University People's Hospital, utilizing real patient case data for AI medical large model training[53](index=53&type=chunk) - By building an open and collaborative ecosystem platform, the company will partner with research institutions, medical organizations, local governments, and upstream/downstream industry players to advance AI vertical medical large model R&D and commercialization[53](index=53&type=chunk) - Cooperation with the Deep Computing Institute will be deepened to provide full-process data services, including automated data cleaning, database construction, and intelligent data analysis, for medical institutions, enterprises, government departments, and industry AI applications[53](index=53&type=chunk) - AI medical will be deeply integrated into existing elderly care services to enhance efficiency and quality, providing a better living experience for the elderly[53](index=53&type=chunk) [Corporate Governance and Other Information](index=14&type=section&id=%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E5%8F%8A%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) [Dividend Policy](index=14&type=section&id=%E8%82%A1%E6%81%AF%E6%94%BF%E7%AD%96) The Board does not recommend an interim dividend for the six months ended June 30, 2025, consistent with the prior year - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (June 2024: nil)[23](index=23&type=chunk) [Directors' and Major Shareholders' Interests](index=27&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E4%B8%BB%E8%A6%81%E8%82%A1%E4%B8%9C%E6%9D%83%E7%9B%8A) As of June 30, 2025, no directors, supervisors, or senior executives held disclosable interests in the company's securities; the report lists four major shareholders, with Tianjin Economic-Technological Development Area State-owned Assets Management Co., Ltd. holding 9.63% - As of June 30, 2025, none of the Company's directors, supervisors, or other senior executives held any interests or short positions in the securities, relevant shares, and debentures of the Company or any of its associated corporations that required notification to the Company and the Stock Exchange[54](index=54&type=chunk) - At no time during the review period did the Company, its subsidiaries, or its holding company enter into any arrangements enabling the Company's directors and supervisors, or their respective spouses or children under 18, to acquire benefits by purchasing the Company's shares[55](index=55&type=chunk) Major Shareholder Holdings (As of June 30, 2025) | Shareholder Name | Capacity | Number of Ordinary Shares | Percentage of Share Capital | | :--- | :--- | :--- | :--- | | Tianjin Economic-Technological Development Area State-owned Assets Management Co., Ltd. | Beneficial Owner | 182,500,000 | 9.63% | | Shenzhen Xiangyong Investment Co., Ltd. | Beneficial Owner | 180,000,000 | 9.50% | | Shenzhen Aopai Technology Co., Ltd. | Beneficial Owner | 180,000,000 | 9.50% | | Dongguan Luye Fertilizer Co., Ltd. | Beneficial Owner | 120,000,000 | 6.33% | [Audit Committee and Corporate Governance](index=29&type=section&id=%E5%AE%A1%E6%A0%B8%E5%A7%94%E5%91%98%E4%BC%9A%E4%B8%8E%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB) The company's audit committee, comprising three independent non-executive directors, oversees financial reporting, external audit, internal control, and risk assessment; while committed to the Corporate Governance Code, the dual role of chairman and CEO does not fully comply, and the company aims for early compliance to enhance transparency and independence - The Company's Audit Committee comprises three independent non-executive directors, chaired by Ms. Gao Chun, primarily responsible for reviewing and overseeing the Group's financial reporting procedures, external audit, internal control, and risk assessment[59](index=59&type=chunk) - The Audit Committee has reviewed the Group's interim results and interim report for the six months ended June 30, 2025[60](index=60&type=chunk) - The Company has complied with all provisions of the Corporate Governance Code, except for the dual role of Chairman and Chief Executive Officer held by Ms. Sun Li[65](index=65&type=chunk) - The Board believes Ms. Sun Li's dual role is currently in the Company's best interest, but the Company will comply with the Code as soon as possible to enhance corporate governance transparency and independence[65](index=65&type=chunk) [Securities Transactions and Share Capital Changes](index=29&type=section&id=%E8%AF%81%E5%88%B8%E4%BA%A4%E6%98%93%E4%B8%8E%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8) During the period ended June 30, 2025, the company approved no new share option schemes or management contracts, adopted a code of conduct for directors' securities transactions, and completed two share placements raising approximately HKD 88.8 million net for AI medical health software platform development and working capital - No new share option schemes were approved by the Company during the period ended June 30, 2025[61](index=61&type=chunk) - No contracts concerning the management or administration of the overall business or any principal business of the Company existed or were entered into during the period ended H1 2025[62](index=62&type=chunk) - The Company has adopted a code of conduct for directors' securities transactions, with no instances of non-compliance found[63](index=63&type=chunk) - On February 19, 2025, a share placement of **135,900,000** shares was completed, raising approximately **HKD 50.5 million** net for AI medical health software platform acquisition and development, and working capital[64](index=64&type=chunk) - On May 8, 2025, a new share placement of **103,500,000** shares was completed, raising approximately **HKD 38.3 million** net for medical health software platform development and working capital[64](index=64&type=chunk) [Board Information](index=31&type=section&id=%E8%91%A3%E4%BA%8B%E4%BC%9A%E4%BF%A1%E6%81%AF) This section lists the company's board members as of the report date, including executive, non-executive, and independent non-executive directors, and provides the report's publication date and access details - The Company's executive director is Ms. Sun Li; non-executive directors are Mr. He Xin, Ms. Li Xueying, and Mr. Li Ximing; independent non-executive directors are Ms. Tu Xiangzhen, Mr. Wang Yongkang, and Ms. Gao Chun[67](index=67&type=chunk) - The report was published on August 29, 2025, and is available on the GEM website and the company's website[67](index=67&type=chunk)

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 公司名稱: 天津泰达生物医学工程股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08189 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,436,400,000 | RMB | | 0.1 RMB | | 143,640,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 1,436,400,000 | RMB | | 0.1 RMB | | 143,640,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | | 於香港聯交所上市 (註1) | | 否 ...

Group 1 - The company, 泰达生物, reported a revenue of RMB 226 million for the six months ending June 30, 2025, representing a year-on-year growth of 7.01% [1] - The loss attributable to shareholders increased to RMB 6.4264 million, which is a year-on-year expansion of 55.86% [1] - The loss per share was reported at 0.317 cents [1]

Group 1 - The core viewpoint of the article is that Teda Bio (08189) reported its interim results for the six months ending June 30, 2025, showing a revenue of RMB 226 million, which represents a year-on-year growth of 7.01% [1] - The company experienced a loss attributable to shareholders of RMB 6.4264 million, which is an increase of 55.86% compared to the previous year [1] - The loss per share is reported at 0.317 cents [1]

股東特別大會之投票表決結果 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。 天津泰達生物醫學工程股份有限公司 Tianjin TEDA Biomedical Engineering Company Limited （於中華人民共和國註冊成立的股份有限公 司） （股份代 號：8189） 董事會欣然宣佈，所有載於日期為二零二五年八月十二日之股東特別大會通告之決 議案已於二零二五年八月二十九日舉行之股東特別大會上正式通過。 股東特別大會結果 茲提述天津泰達生物醫學工程股份有限公司（「本公司」）之股東特別大會通告（「股東特 別大會通告」）及通函（「通函」），兩者日期均為二零二五年八月十二日。除文義另有所指 外，本公告所用詞彙與通函所界定者具相同涵義。 董事會（「董事會」）欣然宣佈，所有載於股東特別大會通告之決議案已於二零二五年八 月二十九日舉行之股東特別大會（「股東特別大會」）上按投票表決方式正式通過。 於股東特別大會日期，本公司有2,133,900,000股已發行股份，包括697,5 ...

[Cover and Disclaimer](index=1&type=section&id=Cover%20and%20Disclaimer) [GEM Features and Disclaimer](index=1&type=section&id=GEM%20Features%20and%20Disclaimer) This semi-annual report for Tianjin TEDA Biomedical Engineering Co., Ltd. on GEM is confirmed by directors as accurate, with the Stock Exchange disclaiming responsibility - GEM is positioned as a listing market for small and medium-sized companies with **high investment risk**, where securities may be subject to **significant market volatility**[2](index=2&type=chunk) - The company's directors jointly and individually assume **full responsibility** for the information in this announcement, confirming its **accuracy, completeness, and absence of misleading content**[2](index=2&type=chunk) [Summary](index=2&type=section&id=Summary) [Financial Highlights](index=2&type=section&id=Financial%20Highlights) Group turnover increased by 7.01% and gross profit by 14.07%, but loss attributable to equity holders expanded to RMB 6.43 million, with no dividend recommended 2025 H1 Financial Highlights | Indicator | 2025 H1 (RMB) | 2024 H1 (RMB) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Consolidated Turnover | 226,407,014 | 211,568,049 | +7.01% | | Consolidated Gross Profit | 13,820,662 | 12,115,570 | +14.07% | | Loss Attributable to Equity Holders of the Company | (6,426,384) | (4,123,183) | Loss expanded | | Loss Per Share | 0.317 cents | 0.218 cents | Loss expanded | - The Board **does not recommend** the payment of a dividend for the six months ended June 30, 2025[4](index=4&type=chunk) [Semi-Annual Results (Unaudited)](index=3&type=section&id=Semi-Annual%20Results%20%28Unaudited%29) [Condensed Consolidated Income Statement](index=3&type=section&id=Condensed%20Consolidated%20Income%20Statement) Turnover increased to RMB 226.41 million and gross profit to RMB 13.82 million, but increased R&D and administrative expenses led to an expanded loss of RMB 8.43 million Condensed Consolidated Income Statement (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Turnover | 226,407,014 | 211,568,049 | | Cost of Sales | (212,586,352) | (199,452,479) | | Gross Profit | 13,820,662 | 12,115,570 | | Other Expenses and Losses / Income, Net | 235,587 | (50,195) | | Selling and Distribution Costs | (3,960,302) | (7,053,114) | | Research and Development and Administrative Expenses | (16,551,751) | (8,559,614) | | Finance Costs | (1,973,895) | (1,977,660) | | (Loss) / Profit Before Tax | (8,429,699) | (5,525,013) | | Income Tax | – | – | | (Loss) / Profit for the Period | (8,429,699) | (5,525,013) | | (Loss) / Profit for the Period Attributable to Owners of the Company | (6,426,384) | (4,123,183) | | (Loss) / Profit for the Period Attributable to Non-controlling Interests | (2,003,313) | (1,401,830) | | Loss Per Share - Basic (RMB) | 0.317 cents | 0.218 cents | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total assets increased to RMB 415.16 million, net current assets turned positive to RMB 29.71 million, and total equity grew to RMB 100.91 million Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Total Non-current Assets | 98,078,794 | 98,533,260 | | Total Current Assets | 317,084,756 | 233,993,789 | | Total Assets | 415,163,551 | 332,527,049 | | Total Current Liabilities | 287,372,895 | 279,065,167 | | Net Current Assets | 29,711,861 | (45,071,379) | | Total Non-current Liabilities | 26,884,872 | 25,021,945 | | Net Assets | 100,905,783 | 28,439,937 | | Equity Attributable to Owners of the Company | 96,618,228 | 22,149,069 | | Total Equity | 100,905,783 | 28,439,937 | [Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Operating cash flow shifted to a net outflow of RMB 98.40 million, investing activities to a net inflow of RMB 6.72 million, and financing activities significantly increased to a net inflow of RMB 78.55 million Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (98,397,585) | 8,044,015 | | Net Cash From Investing Activities | 6,718,101 | (748,742) | | Net Cash From Financing Activities | 78,550,043 | 4,970,000 | | Net Change in Cash and Bank Balances | (13,129,441) | 12,265,273 | | Cash and Bank Balances at End of Period | 52,270,511 | 18,199,595 | - Net cash inflow from financing activities primarily resulted from the issuance of shares, amounting to **RMB 81,190,043**[8](index=8&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [1. Basis of Presentation and Accounting Policies](index=7&type=section&id=1.%20Basis%20of%20Presentation%20and%20Accounting%20Policies) Financial statements are prepared under HKFRS and GEM Listing Rules on a going concern basis, with no significant impact from new standards - The financial statements are prepared under the **historical cost convention** and **Hong Kong Financial Reporting Standards**, on a **going concern basis**[9](index=9&type=chunk) - New and revised Hong Kong Financial Reporting Standards adopted during the period had **no significant impact** on the Group's unaudited operating results and financial position[9](index=9&type=chunk) [2. Revenue](index=7&type=section&id=2.%20Revenue) Total revenue reached RMB 226.41 million, with fertilizer products contributing RMB 182.99 million and elderly care and health business significantly growing to RMB 43.42 million Revenue Analysis (For the six months ended June 30) | Business Category | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Fertilizer Products | 182,987,005 | 211,314,827 | | Elderly Care and Health | 43,420,010 | 253,222 | | Total | 226,407,014 | 211,568,049 | - Revenue from elderly care and health business **significantly increased** from **RMB 253,222** in 2024 to **RMB 43,420,010** in 2025[10](index=10&type=chunk) [3. Finance Costs](index=7&type=section&id=3.%20Finance%20Costs) Finance costs, mainly bank loan interest and charges, totaled RMB 1.97 million, remaining largely consistent with the prior year Finance Costs (For the six months ended June 30) | Item | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Bank Loan Interest Expenses and Bank Charges | 1,973,895 | 1,977,660 | [4. Taxation](index=8&type=section&id=4.%20Taxation) Corporate income tax rate is 25%, with preferential rates for high-tech (15%) and small enterprises (5%), and zero income tax expense in Hong Kong and China - Guangdong Fulilong Compound Fertilizer Co., Ltd. enjoys a **15% preferential tax rate** as a high-tech enterprise[11](index=11&type=chunk) - Some Chinese subsidiaries qualify as small enterprises, enjoying a **5% preferential income tax rate**[11](index=11&type=chunk) Income Tax Expense (For the six months ended June 30) | Jurisdiction | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Hong Kong | – | – | | Other Jurisdictions | – | – | - Income tax expenses in Hong Kong and China were **zero** for the period[12](index=12&type=chunk) [5. Loss Per Share](index=9&type=section&id=5.%20Loss%20Per%20Share) Basic loss per share attributable to owners expanded to RMB 0.317 cents, up from RMB 0.218 cents, due to increased loss and weighted average shares Loss Per Share Calculation (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Loss for Calculation of Basic Loss Per Share | (6,426,384) | (4,123,183) | | Weighted Average Number of Ordinary Shares | 2,024,487,845 | 1,894,500,000 | [6. Additions to Property, Plant and Equipment](index=9&type=section&id=6.%20Additions%20to%20Property%2C%20Plant%20and%20Equipment) Expenditure on property, plant, and equipment additions was approximately RMB 834,918, an increase from the prior year - The Group's expenditure on additions to property, plant and equipment during the period was approximately **RMB 834,918** (2024: RMB 613,742)[16](index=16&type=chunk) [7. Trade and Bills Receivables](index=10&type=section&id=7.%20Trade%20and%20Bills%20Receivables) Net trade receivables significantly increased to RMB 34.22 million, driven by a rise in receivables aged within three months, with ongoing credit assessments Trade and Bills Receivables (As of June 30) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Trade Receivables, Net | 34,217,576 | 10,818,520 | Ageing Analysis of Trade Receivables (As of June 30) | Ageing | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Within 3 Months | 29,372,239 | 1,257,380 | | Over 3 Months but Within 6 Months | 62,237 | 3,717,203 | | Over 6 Months | 4,783,099 | 5,843,937 | [8. Prepayments and Other Receivables](index=11&type=section&id=8.%20Prepayments%20and%20Other%20Receivables) Total prepayments and other receivables increased to RMB 146.61 million, primarily driven by higher net other receivables and deposits and prepayments Prepayments and Other Receivables (As of June 30) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Other Receivables, Net | 12,749,745 | 3,490,539 | | Deposits and Prepayments | 133,859,849 | 78,976,908 | | Total | 146,609,595 | 82,467,447 | [9. Trade Payables](index=11&type=section&id=9.%20Trade%20Payables) Total trade payables significantly increased to RMB 33.08 million, mainly due to a notable rise in payables aged within three months Ageing Analysis of Trade Payables (As of June 30) | Ageing | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Within 3 Months | 27,782,169 | 2,180,601 | | Over 3 Months but Within 6 Months | 20,467 | 166,500 | | Over 6 Months | 5,281,368 | 6,584,577 | | Total | 33,084,003 | 8,931,678 | [10. Other Payables and Accruals](index=12&type=section&id=10.%20Other%20Payables%20and%20Accruals) Total other payables and accruals increased to RMB 81.59 million, primarily driven by an increase in other payables Other Payables and Accruals (As of June 30) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Other Payables | 58,578,315 | 31,008,970 | | Consideration for Acquisition of a Subsidiary | 2,206,900 | 2,206,900 | | Accruals | 4,141,108 | 6,278,834 | | Advances Received | 13,379,852 | 13,379,852 | | Amounts Due to Directors | 322,381 | 315,000 | | Social Welfare Fund Payable | 2,965,152 | 2,965,152 | | Total | 81,593,708 | 56,154,708 | [11. Share Capital](index=12&type=section&id=11.%20Share%20Capital) Authorized and issued share capital increased, with domestic shares growing significantly, bringing total par value to RMB 213.39 million Share Capital Structure (As of June 30) | Category | Number of Shares as of June 30, 2025 | Par Value as of June 30, 2025 (RMB thousands) | Number of Shares as of December 31, 2024 | Par Value as of December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | | Authorized Share Capital | 2,133,900,000 | 213,390 | 1,894,500,000 | 189,450 | | Issued and Fully Paid Domestic Shares | 1,436,400,000 | 143,640 | 697,500,000 | 69,750 | | Issued and Fully Paid H Shares | 697,500,000 | 69,750 | 1,197,000,000 | 119,700 | | Total | 2,133,900,000 | 213,390 | 1,894,500,000 | 189,450 | [12. Capital Commitments](index=12&type=section&id=12.%20Capital%20Commitments) The Group had no significant capital commitments not provided for in the condensed consolidated financial statements as of June 30, 2025 - As of June 30, 2025, the Group had **no significant capital commitments** not provided for in its condensed consolidated financial statements[23](index=23&type=chunk) [13. Contingent Liabilities](index=12&type=section&id=13.%20Contingent%20Liabilities) The company provided guarantees for bank facilities to subsidiaries amounting to RMB 0, consistent with the prior year - The company has provided guarantees for bank facilities granted to certain subsidiaries amounting to **RMB 0** (June 2024: RMB 0)[24](index=24&type=chunk) [Interim Dividend](index=13&type=section&id=Interim%20Dividend) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board **does not recommend** the payment of an interim dividend for the six months ended June 30, 2025 (June 2024: nil)[25](index=25&type=chunk) [Condensed Consolidated Statement of Changes in Equity](index=13&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Equity attributable to owners significantly increased from RMB 22.15 million to RMB 96.62 million, driven by share issuance despite a period loss Condensed Consolidated Statement of Changes in Equity (As of June 30) | Item | June 30, 2025 (RMB) | June 30, 2024 (RMB) | | :--- | :--- | :--- | | Balance at January 1 | 22,149,069 | 49,951,308 | | Net Profit Attributable to Equity Holders of the Company | (6,426,384) | (4,123,183) | | Issuance of Shares | 80,895,544 | 0 | | Balance at June 30 | 96,618,228 | 45,828,125 | - The issuance of shares resulted in an equity increase of **RMB 80,895,544**[26](index=26&type=chunk) [Management Discussion and Analysis](index=14&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=14&type=section&id=Business%20Review) The Group operates in bio-compound fertilizers, AI medical elderly care, and data services, focusing on large medical models and comprehensive data solutions - The Group's three major business areas are **bio-compound fertilizers, AI medical elderly care, and data services**[27](index=27&type=chunk) - The AI medical elderly care business collaborates with hospitals under Peking University Health Science Center to develop serious medical large models based on **millions of real patient cases**[27](index=27&type=chunk) - The data business, as a core ecological partner of Shenzhen Institute of Advanced Computing, provides end-to-end services including **data cleaning, database construction, and intelligent data analysis**[27](index=27&type=chunk) [Compound Fertilizer Business](index=15&type=section&id=Compound%20Fertilizer%20Business) H1 2025 saw structural adjustments in compound fertilizer raw materials, with rising potash prices and stable downstream demand, while the Group's business covers diverse products with comprehensive management - In H1 2025, potash prices increased by **15%-20%**, becoming the primary driver of rising compound fertilizer costs[29](index=29&type=chunk) - Downstream demand for compound fertilizers remained stable with progress, showing **strong resilience and vitality** in the economic crop sector[29](index=29&type=chunk) - The Group's compound fertilizer products include high-tower compound fertilizers, sulfur-based, chlorine-based, and nitrate-based types, characterized by **high nutrient content and environmental friendliness**[32](index=32&type=chunk) - Through informatization, the Group has established a comprehensive operational management model across five business segments: **procurement, production, marketing, logistics, and finance**[32](index=32&type=chunk) [Compound Fertilizer Industry Development](index=15&type=section&id=Compound%20Fertilizer%20Industry%20Development) H1 2025 saw structural adjustments in raw materials, with nitrogen prices falling, potash rising, and compound fertilizer prices fluctuating, while downstream demand remained resilient - Nitrogen fertilizer prices showed an overall **downward trend** in H1, constrained by overcapacity and export restrictions[29](index=29&type=chunk) - Tight potash supply dominated the market, with a **15%-20% increase** in H1, becoming the core driver of rising compound fertilizer costs[29](index=29&type=chunk) - Compound fertilizer prices exhibited a divergent trend of "**rising in Q1 and high-level fluctuations in Q2**"[29](index=29&type=chunk) - Downstream demand remained stable with progress, showing **extremely strong resilience and vitality** in the economic crop sector[29](index=29&type=chunk) - Market trends necessitate fertilizer enterprises to continuously **research and develop new products**, improve product quality and efficacy, and strengthen environmental protection facilities[31](index=31&type=chunk) [Group's Compound Fertilizer Business Development](index=16&type=section&id=Group%27s%20Compound%20Fertilizer%20Business%20Development) The Group's compound fertilizer business offers diverse products for various crops, supported by strategic procurement, sales-driven production, and multi-channel distribution - Products primarily include **high-tower compound fertilizers**, categorized by nutrient source (**sulfur-based, chlorine-based, nitrate-based**) and type (**high-concentration, micro-element, water-soluble, slow/controlled-release, seaweed, bio-fertilizers, crop-specific, horticultural fertilizers**)[32](index=32&type=chunk) - Procurement models include **strategic procurement and order-based procurement**, establishing long-term partnerships with major raw material suppliers[33](index=33&type=chunk) - Production is **sales-driven**, with bases in Weifang, Shandong and Dongguan, Guangdong, and expanded offerings of liquid and water-soluble compound fertilizers to meet market demand[33](index=33&type=chunk) - Marketing primarily uses **distributor networks**, established the well-known brand "Fulilong", and built e-commerce sales platforms[33](index=33&type=chunk) [AI Medical Elderly Care Business](index=18&type=section&id=AI%20Medical%20Elderly%20Care%20Business) The Group manages 50 elderly care institutions under 'Ruifu Elderly Care' and, through share placements and collaboration with Peking University, developed the bilingual 'Xihe-1' AI medical large model, trained on millions of real patient cases - The Group's core elderly care team has been engaged in elderly care since 1999, establishing the "**Ruifu Elderly Care**" brand and managing **50 elderly care institutions in Shanghai**[34](index=34&type=chunk) - In H1 2025, two rounds of share placements were completed, raising net proceeds of approximately **HKD 88.8 million** for purchasing and developing AI medical health software platforms[35](index=35&type=chunk) - Collaborated with hospitals under Peking University Health Science Center to establish Beijing Boya Quan Jian Smart Computing Technology Co., Ltd., focusing on the deep integration of **artificial intelligence and medical health technology**[36](index=36&type=chunk) - Jointly developed the bilingual "**Xihe-1**" medical large model with Peking University Third Hospital over ten years, trained on **millions of real patient cases** using closed-source data, achieving an accuracy rate of **over 90%**[37](index=37&type=chunk) - Key advantages of "**Xihe-1**" include training on closed data, **pathology evidence-driven decision-making**, and a dual engine of "**natural language interaction + traceable knowledge reasoning**" empowering clinical decisions[37](index=37&type=chunk)[38](index=38&type=chunk) - Jointly developed the "**Xihe-1**" pre-diagnosis and triage integrated machine with Xiamen Hongxin Electronics Technology Group subsidiary Suihong Huachuang, with plans for focused promotion in **grassroots medical care**[38](index=38&type=chunk) [Data Business](index=21&type=section&id=Data%20Business) The Group established Shenzhen Yishu Jingcheng Technology Co., Ltd. for data governance, providing high-quality data for AI medical models and full-process data services to clients, supported by strategic partnerships - Established controlling subsidiary Shenzhen Yishu Jingcheng Technology Co., Ltd. as an officially certified **core ecological partner of Shenzhen Institute of Advanced Computing**, engaging in data governance[40](index=40&type=chunk) - Yishu Jingcheng provides **high-quality data** for the company's AI medical large model training and offers external clients end-to-end services including **data cleaning, intelligent analysis, and customized model training**[40](index=40&type=chunk) - Achieved strategic cooperation with Peking University Third Hospital to jointly develop "**Xihe-1**" and acquire **millions of real patient cases** of closed-source medical data for training[40](index=40&type=chunk) - Signed a strategic cooperation agreement with China Telecom Digital Intelligence Technology Co., Ltd. Ningxia Branch to jointly build a **medical health ecosystem platform** and an "**AI + Medical Health**" industrial park[41](index=41&type=chunk) - Signed an ecological cooperation agreement with Shenzhen Institute of Advanced Computing, where Yishu Jingcheng handles client engagement and demand identification, and Shenzhen Institute of Advanced Computing provides technical support including **Yashan Database, Caishiqi Data Quality System, and Diaoyucheng Data Analysis System**[41](index=41&type=chunk) [Financial Performance Review](index=24&type=section&id=Financial%20Performance%20Review) Turnover grew 7.01%, gross profit 14.07%, and gross margin to 6.10%, but a 93.37% surge in R&D and administrative expenses led to an expanded loss Key Financial Indicators Change (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Total Turnover | 226,407,014 | 211,568,049 | +7.01% | | Consolidated Gross Profit | 13,820,662 | 12,115,570 | +14.07% | | Operating Consolidated Gross Profit Margin | 6.10% | 5.73% | +0.37% | | Selling and Distribution Costs | 3,960,302 | 7,053,114 | -43.85% | | Research and Development and Administrative Expenses | 16,551,751 | 8,559,614 | +93.37% | | Finance Costs | 1,973,895 | 1,977,660 | -0.19% | | Loss Attributable to Equity Holders of the Company | 6,426,384 | 4,123,183 | Loss expanded | - The growth in operating revenue was primarily attributable to the **rapid development of the elderly care and health business segment**[42](index=42&type=chunk) - The decrease in selling and distribution costs was mainly due to **strengthened expense control**, achieving cost reduction and efficiency improvement through travel expense reimbursement system reform and refined channel management[43](index=43&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=25&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) Bank and cash balances were RMB 52.27 million, short-term borrowings decreased, total assets and equity grew, and financial health improved with lower debt ratios and a current ratio of 1.10 Liquidity and Capital Structure Indicators (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Bank and Cash Balances | 52,270,511 | 65,399,950 | | Short-term Borrowings | 83,830,000 | 134,670,000 | | Total Assets | 415,163,551 | 332,527,049 | | Shareholders' Equity | 100,905,783 | 28,439,937 | | Consolidated Debt-to-Asset Ratio | 0.76 | 0.91 | | Capital-to-Debt Ratio | 0.24 | 0.45 | | Current Ratio | 1.10 | 0.84 | - Primary funding sources were **bank financing and proceeds from share placements**[47](index=47&type=chunk) - Short-term borrowing interest rates ranged from **2.90% to 3.55%**[47](index=47&type=chunk) [Pledges of Assets and Contingent Liabilities](index=25&type=section&id=Pledges%20of%20Assets%20and%20Contingent%20Liabilities) As of June 30, 2025, the Group and company had contingent liabilities of RMB 0 for pledges and guarantees related to subsidiary bank loans - As of June 30, 2025, the Group and the company had contingent liabilities of **RMB 0** for pledges and guarantees provided for bank loans granted to its subsidiaries[49](index=49&type=chunk) [Foreign Currency Risk](index=25&type=section&id=Foreign%20Currency%20Risk) Foreign currency risk is minimal as all Group sales and payments are settled in RMB - All the Group's sales and payments are settled in **RMB**, thus the foreign currency risk faced is **minimal**[50](index=50&type=chunk) [Treasury Policy](index=25&type=section&id=Treasury%20Policy) Bank borrowings are RMB-settled and typically renewed annually, with cash balances deposited in licensed Chinese banks - The Group's bank borrowings are settled in **RMB** and generally **renewed for one year** upon maturity[51](index=51&type=chunk) - Any cash balances are deposited as funds in **licensed banks in China**[51](index=51&type=chunk) [Outlook](index=26&type=section&id=Outlook) The company will focus on R&D and commercialization of AI medical large models and data businesses, deepening partnerships to enhance existing elderly care services with AI - The company will continue to fully commit to the **R&D and commercialization** of AI medical large models and data businesses[52](index=52&type=chunk) - Deepen cooperation with top-tier hospitals like Peking University Third Hospital and Peking University People's Hospital, utilizing **real patient case data for model training**[52](index=52&type=chunk) - Deepen cooperation with Shenzhen Institute of Advanced Computing, providing **end-to-end data services** for medical institutions, enterprises, government departments, and industry AI applications[52](index=52&type=chunk) - Deeply empower existing elderly care services with AI medical technology to **enhance service efficiency and quality**[52](index=52&type=chunk) [Other Information](index=26&type=section&id=Other%20Information) [Directors' and Supervisors' Interests in Shares, Related Shares and Debentures](index=26&type=section&id=Directors%27%20and%20Supervisors%27%20Interests) As of June 30, 2025, no directors, supervisors, or senior executives held notifiable interests or short positions in the company's or its associated corporations' securities - As of June 30, 2025, **none** of the company's directors, supervisors, or other senior executives held any **notifiable interests or short positions** in the securities, related shares, or debentures of the company or its associated corporations that require notification to the company and the Stock Exchange[53](index=53&type=chunk) [Rights to Acquire Shares by Directors and Supervisors](index=27&type=section&id=Rights%20to%20Acquire%20Shares%20by%20Directors%20and%20Supervisors) No arrangements existed during the review period for directors, supervisors, or their associates to acquire benefits by purchasing company shares - At no time during the review period did the company, its subsidiaries, or holding companies enter into **no arrangements** enabling the company's directors and supervisors, or their respective spouses or children under 18, to acquire benefits by purchasing the company's shares[54](index=54&type=chunk) [Major Shareholders](index=27&type=section&id=Major%20Shareholders) As of June 30, 2025, three major shareholders each held over 9.50% equity, with another holding 6.33% Major Shareholders' Shareholding (As of June 30) | Shareholder Name | Capacity | Number of Ordinary Shares | Percentage of Share Capital | | :--- | :--- | :--- | :--- | | Tianjin Economic-Technological Development Area State-owned Assets Management Co., Ltd. | Beneficial Owner | 182,500,000 | 9.63% | | Shenzhen Xiangyong Investment Co., Ltd. | Beneficial Owner | 180,000,000 | 9.50% | | Shenzhen Aopai Technology Co., Ltd. | Beneficial Owner | 180,000,000 | 9.50% | | Dongguan Luye Fertilizer Co., Ltd. | Beneficial Owner | 120,000,000 | 6.33% | - All disclosed shares are **domestic shares**[55](index=55&type=chunk) [Competing Interests](index=28&type=section&id=Competing%20Interests) No directors, supervisors, management shareholders, or their associates had any competing interests or conflicts of interest with the Group's business during the period - For the six months ended June 30, 2025, none of the company's directors, supervisors, or management shareholders and their respective associates had any existing or potential **no competing interests** with the Group's business, or any other existing or potential **no other conflicts of interest** with the Group[57](index=57&type=chunk) [Audit Committee](index=28&type=section&id=Audit%20Committee) The Audit Committee, chaired by Ms. Gao Chun and comprising three independent non-executive directors, reviews financial reporting, external audit, internal controls, and risk assessment, having reviewed the interim results - The Audit Committee comprises three independent non-executive directors: Mr. Tu Xiangzhen, Mr. Wang Yongkang, and Ms. Gao Chun, with **Ms. Gao Chun as Chairperson**[58](index=58&type=chunk) - The Committee's primary responsibilities include **reviewing and overseeing the Group's financial reporting process**, and assessing the effectiveness of **external audit, internal controls, and risk assessment**[58](index=58&type=chunk) - The Audit Committee has **reviewed the Group's interim results and interim report** for the six months ended June 30, 2025[58](index=58&type=chunk) [Share Option Scheme](index=28&type=section&id=Share%20Option%20Scheme) The company did not approve any new share option schemes during the period ended June 30, 2025 - During the period ended June 30, 2025, the company **did not approve any new share option schemes**[59](index=59&type=chunk) [Contracts of Significance](index=29&type=section&id=Contracts%20of%20Significance) During H1 2025, the company had no contracts of significance regarding the management or administration of its overall or major businesses - During H1 2025, the company had **no contracts of significance** regarding the management or administration of its overall business or any major business[60](index=60&type=chunk) [Code of Conduct for Securities Transactions by Directors](index=29&type=section&id=Code%20of%20Conduct%20for%20Securities%20Transactions%20by%20Directors) The company adopted a directors' securities transaction code no less stringent than GEM Listing Rules, confirming no non-compliance during the review period - The company has adopted a code of conduct with terms **no less stringent** than the required dealing standards set out in Rules 5.48 to 5.67 of the GEM Listing Rules[61](index=61&type=chunk) - The company is **unaware of any non-compliance** by directors with the required dealing standards and its code of conduct for securities transactions during the review period[61](index=61&type=chunk) [Purchase, Sale or Redemption of Securities](index=29&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Securities) In H1 2025, the company completed two share placements, raising HKD 88.8 million for AI medical software and working capital, with no other share transactions - On February 19, 2025, one round of share placement was completed, allotting **135,900,000 shares** and raising net proceeds of approximately **HKD 50.5 million**, for purchasing and developing AI medical health software platforms and working capital[62](index=62&type=chunk) - On May 8, 2025, a new round of share placement was completed, allotting **103,500,000 shares** and raising net proceeds of approximately **HKD 38.3 million**, for medical health software platform development, working capital, and potential investment opportunities[62](index=62&type=chunk) - Other than the aforementioned placements, neither the company nor its subsidiaries **purchased, sold, or redeemed any shares** during the period[62](index=62&type=chunk) [Corporate Governance Code](index=30&type=section&id=Corporate%20Governance%20Code) The company complied with all Corporate Governance Code provisions except for the non-separation of Chairman and CEO roles, which the Board deems in the company's best interest for now - The company complied with all provisions of the Code during the review period, **except for Code Provision A.2.1** (which states that the roles of chairman and chief executive should be separate)[63](index=63&type=chunk) - The Board believes that Ms. Sun Li concurrently holding the roles of Chairperson and Chief Executive Officer is currently in the company's **best interest**, facilitating policy continuity and operational stability[63](index=63&type=chunk) - The company will **comply with Code Provision A.2.1 as soon as practicable** to enhance corporate governance transparency and independence[63](index=63&type=chunk) [Interim Dividend (Reiteration)](index=30&type=section&id=Interim%20Dividend%20%28Reiteration%29) The Board resolved not to declare any interim dividend for the six months ended June 30, 2025 - The Board resolved **not to declare any interim dividend** for the six months ended June 30, 2025[64](index=64&type=chunk) [Board and Contact Information](index=30&type=section&id=Board%20and%20Contact%20Information) This announcement, published by Chairperson Ms. Sun Li on August 29, 2025, lists directors and provides GEM and company website access information - This announcement was published by Ms. Sun Li, Chairperson of the Board, on **August 29, 2025**[65](index=65&type=chunk)[66](index=66&type=chunk) - The company's executive director is **Sun Li**; non-executive directors are **He Xin, Li Xueying, and Li Ximing**; independent non-executive directors are **Tu Xiangzhen, Wang Yongkang, and Gao Chun**[66](index=66&type=chunk)

Core Viewpoint - The strategic cooperation agreement between Teda Biomedical and Suihong Huachuang Technology aims to leverage each other's resources, talent, and technology in the AI healthcare sector, focusing on specialized operations and market promotion [1][2] Group 1: Strategic Cooperation - Teda Biomedical has signed a strategic cooperation agreement with Suihong Huachuang Technology to enhance AI healthcare and data business operations [1] - The collaboration will focus on building intelligent computing centers and providing heterogeneous computing hardware solutions [1] - The partnership aims to ensure stable and efficient computing resources, which are crucial for the development and commercialization of AI healthcare models [1] Group 2: Resource and Technology Synergy - The agreement allows for complementary advantages in resources and technology between Teda Biomedical and Suihong Huachuang [2] - Suihong Huachuang's established government partnerships and sales channels will support Teda Biomedical's market promotion efforts for AI healthcare models [2] - The core technological capabilities of Suihong Huachuang in computing infrastructure and hardware manufacturing will provide stable computing support and cost-effective solutions for Teda Biomedical [2]

Core Viewpoint - The strategic cooperation agreement between Teda Biomedical and Suihong Huachuang Technology aims to leverage each other's resources and technological advantages in the AI healthcare sector, focusing on specialized operations and market promotion of AI medical health and data businesses [1][2]. Group 1: Strategic Cooperation - The partnership will enhance resource and technology synergies, utilizing Suihong Huachuang's established government collaborations and sales channels to support Teda Biomedical's AI medical model and related data business market promotion [2]. - Suihong Huachuang's core technological capabilities in AI computing infrastructure and hardware manufacturing will provide stable and efficient computing power for Teda Biomedical's AI medical model training and real-world application [2]. Group 2: Business Development Focus - Teda Biomedical is actively advancing the research and commercialization of AI medical models and related data businesses, emphasizing the importance of high-quality computing resources, stable hardware solutions, and extensive market promotion channels [1]. - The company plans to engage in resource alignment and cooperation discussions to ensure the sustainable and steady advancement of its business [1].

Core Viewpoint - The strategic cooperation agreement between Teda Bio and Shanghai Suihonghuachuang Technology Co., Ltd. aims to leverage their respective resources, talents, and technological advantages in the AI healthcare sector, focusing on specialized operations and market promotion [1][2]. Group 1: Strategic Cooperation - The partnership will enhance resource and technology synergies, utilizing Suihonghuachuang's established government collaborations and sales channels to support Teda Bio's AI healthcare model and data business market promotion [2]. - The collaboration will provide stable and efficient computing power and cost-effective hardware solutions, which are crucial for optimizing AI healthcare model training and facilitating commercial application [2]. Group 2: Business Development Focus - Teda Bio is actively advancing its AI healthcare model and related data business, emphasizing the importance of high-quality computing resources, stable hardware solutions, and extensive market promotion channels for effective business development [1]. - The company plans to engage in resource alignment and cooperation discussions to ensure sustainable and robust business growth [1].

香港聯合交易所有限公司對本公佈之內容概不負責，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佈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。 天津泰達生物醫學工程股份有限公司 Tianjin TEDA Biomedical Engineering Company Limited （於中華人民共和國註冊成立的股份有限公 司） （股份代 號：8189） 自願公告 簽署AI醫療健康領域戰略合作協議 本公告由天津泰達生物醫學工程股份有限公司（「本公司」，連同其附屬公司統稱「本集 團」）自願刊發，以向本公司股東及潛在投資者提供有關本集團的最新業務進度的信息。 簽署AI醫療健康領域戰略合作協議 本公司董事（「董事」）會（「董事會」）欣然宣佈，近期本公司與A股上市公司廈門弘信電 子科技集團股份有限公司（股票代碼：300657）之附屬公司上海燧弘華創科技有限公司 （「燧弘華創」）簽署AI醫療健康領域戰略合作協議（「合作協議」）。雙方將充分發揮各自 資源、人才和技術優勢，圍繞AI醫療健康和數據業務的專業化運營和市場推廣，醫療健 康領域的智算中心建設和算力提供，及多元異構算力硬件整體解決方 ...