Group 1 - The company, 加幂科技, reported a revenue of 25.894 million HKD for the six months ending June 30, 2025, representing a year-on-year decrease of 14.4% [1] - The net loss for the company widened to 32.822 million HKD, an increase of 1032.6% compared to the previous year [1] - The basic loss per share was reported at 5.30 HKD cents [1]

加幂科技(08198)发布截至2025年6月30日止六个月业绩，收益2589.4万港元，同比下降14.4%;净亏损 3282.2万港元，同比扩大1032.6%;每股基本亏损5.30港仙。 ...

[Introduction and Regulatory Context](index=1&type=section&id=Introduction%20and%20Regulatory%20Context) [Disclaimer and Company Information](index=1&type=section&id=Disclaimer%20and%20Company%20Information) This announcement by PowerUp Technology Co. Ltd. discloses unaudited interim results for the six months ended June 30, 2025, complying with GEM Listing Rules, with the Board jointly responsible for its accuracy and completeness - PowerUp Technology Co. Ltd. (Stock Code: 8198) announced its unaudited condensed consolidated interim results for the six months ended June 30, 2025[2](index=2&type=chunk) - This announcement complies with the relevant requirements of the GEM Listing Rules of The Stock Exchange of Hong Kong Limited[2](index=2&type=chunk) - The Board of Directors includes executive directors Li Hongbin (Chairman), Huang Yibin, Xiong Jiayan, and independent non-executive directors Sun Yuqiang, Zhu Hehua, and Tang Yi[2](index=2&type=chunk) [GEM Listing Rules Context](index=3&type=section&id=GEM%20Listing%20Rules%20Context) The GEM market provides a listing platform for SMEs, which typically carry higher investment risks, requiring prudent investor evaluation; the Exchange disclaims responsibility for this report, while the Board assumes full accountability for its accuracy - The GEM market is positioned as a listing platform for small and medium-sized companies, whose securities may be subject to greater market volatility risks[5](index=5&type=chunk) - The Stock Exchange makes no representation as to the accuracy or completeness of this report and accepts no liability for it[6](index=6&type=chunk) - The company's directors jointly and individually assume full responsibility for the information in this report, confirming its accuracy, completeness, and absence of misleading or fraudulent content[7](index=7&type=chunk) [Management Discussion and Analysis](index=4&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=4&type=section&id=Business%20Review) The Group primarily operates big data center services, money lending, and Web3.0 businesses; big data center revenue decreased by **HKD 4.7 million** to **HKD 24.9 million**, while money lending revenue increased by **HKD 0.3 million** to **HKD 1 million**, and Web3.0 remains in R&D - The Group's main businesses include big data center services, money lending, and Web3.0 businesses[8](index=8&type=chunk) [Big Data Center Services](index=4&type=section&id=Big%20Data%20Center%20Services) The Group's big data center services generated **HKD 2.2 million** from the Hong Kong center (ceased operations June 2025) and **HKD 22.7 million** from the US center (commenced December 2023), with total revenue decreasing by **HKD 4.7 million** due to reduced Hong Kong contributions and US price volatility - The Hong Kong data center, with a maximum processing capacity of approximately **1,400 Kilowatts (kW)**, ceased operations in June 2025, generating approximately **HKD 2.2 million** in revenue during the reporting period[9](index=9&type=chunk) - The US data center, with a maximum processing capacity of approximately **11 Megawatts (MW)**, commenced operations in December 2023, generating approximately **HKD 22.7 million** in revenue during the reporting period[9](index=9&type=chunk) - Total revenue from big data center services was approximately **HKD 24.9 million**, a decrease of approximately **HKD 4.7 million** compared to the same period in 2024, primarily due to reduced contributions from the Hong Kong data center and price fluctuations in the US data center[9](index=9&type=chunk) Big Data Center Services Revenue Comparison | Metric | H1 2025 (Thousand HKD) | H1 2024 (Thousand HKD) | Change (Thousand HKD) | Change Rate | Remarks | | :--- | :--- | :--- | :--- | :--- | :--- | | Big Data Center Services Revenue | 24,900 | 29,600 | (4,700) | -15.88% | Reduced contribution from Hong Kong data center and price fluctuations in US data center | | Hong Kong Data Center Revenue | 2,200 | - | - | - | Ceased operations June 2025 | | US Data Center Revenue | 22,700 | - | - | - | Commenced operations December 2023 | [Money Lending Business](index=5&type=section&id=Money%20Lending%20Business) The Group's money lending business, operated by Fortune Rich Limited, saw a **HKD 30 million** loan extended with partial repayment and **HKD 44,000** provision, while another **HKD 3 million** loan was fully repaid, contributing **HKD 1 million** in revenue - Fortune Rich Limited obtained a money lender's license in Hong Kong in January 2020[10](index=10&type=chunk) - A **HKD 30 million** loan (annual interest rate of **10%**) matured on April 2, 2024, with the borrower failing to repay in full; **HKD 2 million** in partial interest was received, and approximately **HKD 18.7 million** in principal and interest was further settled after the due date[10](index=10&type=chunk) - As of June 30, 2025, cumulative provisions of approximately **HKD 44,000** have been made for this loan[11](index=11&type=chunk) - Another **HKD 3 million** loan (annual interest rate of **10%**) was fully repaid before its due date, with interest income of approximately **HKD 100,000** recorded during the reporting period[11](index=11&type=chunk) Money Lending Business Interest Income Comparison | Metric | H1 2025 (Thousand HKD) | H1 2024 (Thousand HKD) | Change (Thousand HKD) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Money Lending Business Revenue | 1,000 | 700 | 300 | 42.86% | | Loan Interest Income | 900 | - | - | - | | Second Loan Interest Income | 100 | - | - | - | [Web3.0 Business](index=9&type=section&id=Web3.0%20Business) The Group actively pursued R&D in blockchain, Web3.0 applications, and infrastructure platforms during the period, recruiting talent for overseas market development, product operations, and blockchain-based financial services - The Group conducted R&D activities for blockchain, Web3.0 applications, and infrastructure platforms during the reporting period[20](index=20&type=chunk) - Talent in blockchain and related fields has been recruited, covering overseas market business development, product operations, and blockchain-based financial services[20](index=20&type=chunk) [Internal Control Procedures for Money Lending Business](index=6&type=section&id=Internal%20Control%20Procedures%20for%20Money%20Lending%20Business) The Group established internal control procedures for money lending, covering credit risk assessment, approval, ongoing monitoring of recoverability, and impairment policies to ensure risk management and safeguard shareholder interests - The Group has implemented internal control procedures aimed at ensuring risk management and safeguarding the interests of the company and its shareholders[13](index=13&type=chunk) - Key internal control procedures include credit risk assessment, credit approval, and ongoing monitoring of loan recoverability and collection[13](index=13&type=chunk) [Credit Risk Assessment](index=6&type=section&id=Credit%20Risk%20Assessment) The Money Lending Monitoring Team assesses potential clients' credit risk, including credit ratings, repayment capacity, and financial standing, with the Company Secretary verifying related party relationships and independent valuers appraising collateral - The Money Lending Monitoring Team (comprising the CEO, accounting, and company secretary department personnel) is responsible for credit risk assessment[13](index=13&type=chunk) - The assessment includes the potential client's credit rating, repayment ability, financial condition, and overall credit risk, along with a review of relevant documents[13](index=13&type=chunk) - The Company Secretary's Department verifies related party relationships, and management engages independent valuers to assess collateral value[15](index=15&type=chunk) [Credit Approval](index=7&type=section&id=Credit%20Approval) The Money Lending Monitoring Team prepares initial loan recommendations based on credit risk assessments, which the accounting team independently reviews for GEM Listing Rules compliance, with final applications submitted for Board or shareholder approval - The Money Lending Monitoring Team prepares preliminary recommendations based on credit risk assessment results, determining loan principal, interest rate, and term[15](index=15&type=chunk) - The accounting team conducts an independent evaluation of the application and performs a size test to ensure compliance with GEM Listing Rules[16](index=16&type=chunk) - Loan applications successfully passing the procedures are submitted to the Board of Directors or shareholders for approval[16](index=16&type=chunk) [Ongoing Monitoring of Loan Recoverability and Collection](index=8&type=section&id=Ongoing%20Monitoring%20of%20Loan%20Recoverability%20and%20Collection) The finance department maintains individual loan sub-accounts, verified by the CFO and CEO, while management and the monitoring team quarterly review loan recoverability and collection, initiating legal action for defaults - The finance department establishes independent sub-accounts for each borrower, recording loan principal, repayment schedules, and records, which are reviewed and approved by the Head of Finance and the CEO[18](index=18&type=chunk) - Management and the Money Lending Monitoring Team quarterly review loan collection status and recoverability to mitigate credit risk[18](index=18&type=chunk) - In case of client default, an overdue notice will be issued, and legal action may be taken after seeking legal advice[18](index=18&type=chunk) [Loan Impairment Policy](index=9&type=section&id=Loan%20Impairment%20Policy) Management assesses loan impairment based on factors like significant repayment delays, legal actions, collateral value decline, and unavailable borrower financial documents, appointing independent valuers for impairment loss provisions when such factors arise - Factors considered for loan impairment include significant delays in borrower repayment, the company taking legal action, a decline in collateral value, and the inability to obtain borrower financial documents[19](index=19&type=chunk)[21](index=21&type=chunk) - Upon identifying impairment factors, an independent valuer will be appointed to assess the provision for impairment losses on loans and interest receivable[19](index=19&type=chunk)

Group 1 - The core point of the article is that 加幂科技 (Gami Technology) has entered into a conditional sale agreement to acquire 80% of Rhino Trading Pty Ltd, which operates an online cryptocurrency trading platform [1] - Upon completion of the acquisition, Rhino Trading will become a wholly-owned subsidiary of Gami Technology, and its financial performance will be consolidated into the group's financial statements [1] - Rhino Trading Pty Ltd was established in Australia on November 16, 2021, and is registered with AUSTRAC to legally operate its cryptocurrency trading business [1] Group 2 - The buyer, 元思维创新有限公司 (Yuan Siwei Innovation Limited), is a wholly-owned subsidiary of Gami Technology, while the seller, Golden Cactus Pty Ltd, currently holds 80% of the target company's equity [1] - The target company provides digital currency trading services, including over-the-counter trading and remittance services involving cross-border transfers [1]

Core Viewpoint - The company, 加幂科技, plans to acquire 80% of Rhino Trading Pty Ltd for HKD 400,000, aiming to expand its presence in the Australian digital currency trading market [1][2]. Group 1: Acquisition Details - The acquisition involves the company's indirect wholly-owned subsidiary, 元思维创新有限公司, purchasing the stake from Golden Cactus Pty Ltd [1]. - Rhino Trading Pty Ltd operates an online digital currency trading platform, allowing members to buy and trade cryptocurrencies [1]. - The target company is registered with AUSTRAC, enabling it to legally operate its digital currency trading business in Australia [1]. Group 2: Strategic Rationale - The initial acquisition serves as a stepping stone for the company to expand into the Australian digital currency exchange and OTC trading business [2]. - The company has completed a comprehensive legal and financial due diligence on the target company [2]. - The decision to acquire the remaining 80% stake instead of exercising the option to purchase shares is based on the target's existing licensing, infrastructure, operational experience, and potential synergies with the company's existing Web3.0 ecosystem [2]. Group 3: Future Prospects - The company anticipates leveraging its 30% stake in a Web3.0 social media platform and its extensive mining customer network to rapidly expand the customer base of the target company's trading platform [2]. - Strategic integration of the company's platforms, facilities, and expertise is expected to optimize the target company's operations and enhance its market presence [2]. - The company projects potential improvements in the operational and financial performance of the target company under its management [2].

Group 1 - The company, 加幂科技, announced the acquisition of 80% of Rhino Trading Pty Ltd for HKD 400,000, with the transaction expected to be completed by August 22, 2025 [1][2] - Rhino Trading Pty Ltd operates an online digital currency trading platform and is registered with AUSTRAC, allowing it to legally conduct digital currency trading in Australia [1][2] - The acquisition aims to expand the company's presence in the Australian digital currency exchange and over-the-counter trading business, leveraging existing licenses, infrastructure, and operational experience [2] Group 2 - The company has completed the initial acquisition and is conducting a comprehensive legal and financial due diligence on Rhino Trading Pty Ltd [2] - The strategic integration of the company's platforms and expertise is expected to optimize the operations of Rhino Trading and enhance its financial performance under the company's management [2] - The company anticipates rapid expansion of Rhino Trading's customer base by promoting its digital currency trading platform, utilizing the user base from its Web3.0 social media platform and its extensive mining client network [2]

Crypto Flow Technology Limited 加幂科技有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8198） 有關進一步收購目標公司80%股權的須予披露交易 收購事項 於二零二五年八月 二十二 日（交 易 時 段 後），買 方（本 公 司 間 接 全 資 附 屬 公 司）與 賣 方訂立買賣協議，據此，買方有條件同意收購而賣方有條件同意出售銷售股份， 佔目標公司全部已發行股本的80%。 完 成 後，目 標 公 司 將 成 為 本 公 司 的 全 資 附 屬 公 司，其 財 務 業 績 將 綜 合 入 賬 至 本 集團的綜合財務報表。 GEM上市規則的涵義 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 由於初步收購事項及收購事項乃於12個 月 期 間 內 與 同 一 訂 約 方 訂 立，故 根 據 GEM上市規則第19.22條，兩 者 應 合 併 為 一 系 列 ...

Core Viewpoint - 加幂科技预计在截至2025年6月30日的六个月内将面临不少于2300万港元的净亏损，相较于2024年同期的约300万港元净亏损，显示出显著的亏损增加 [1] Financial Performance - 预计净亏损的增加主要归因于一次性购股权开支、Web3.0业务研发开支的增加，以及根据预期信贷亏损模型的减值亏损拨备 [1] - 截至2024年6月30日的同期，曾拨回约500万港元的减值亏损 [1]

Core Viewpoint - 加幂科技 (08198) anticipates a net loss of no less than HKD 23 million for the six months ending June 30, 2025, compared to a net loss of approximately HKD 3 million for the same period ending June 30, 2024, indicating a significant increase in losses due to various factors [1] Financial Performance - The projected net loss for the upcoming period is expected to be at least HKD 23 million [1] - The net loss for the same period last year was around HKD 3 million, highlighting a substantial increase in losses [1] Contributing Factors - The increase in net loss is primarily attributed to one-time stock option expenses related to the granting of stock options during the period [1] - Increased research and development expenses for Web3.0 business are also contributing to the higher losses [1] - The company has recognized impairment losses based on expected credit loss models, contrasting with a reversal of impairment losses of approximately HKD 5 million in the same period last year [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Crypto Flow Technology Limited 加幂科技有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8198） 盈利警告 本公告將由刊登之日起在聯交所網址www.hkexnews.hk之「最 新 上 市 公 司 公 告」網 頁 至少保存七日及於本公司網址www.cryptoflowhk.com內刊登。 本 公 司 正 在 最 終 確 定 本 集 團 於 本 期 間 的 業 績。本 公 告 所 載 的 財 務 資 料 僅 基 於 董 事 會參考本集團本期間未經審核綜合管理賬目及其他現有資料而作出的初步審閱。 上 述 財 務 資 料 可 能 會 根 據 進 一 步 更 新 的 資 料 作 進 一 步 更 改 及 調 整，並 須 經 核 數 師 及 本 公 司 的 審 核 委 員 會 審 閱。本 公 司 股 東 及 潛 在 ...