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的內容概不 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 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （於開曼群島註冊成立的有限公司） （股份代號：8238） 有關截至2024年12月31日止年度之年報 所載述無法發表意見之最新情況 WINTO GROUP (HOLDINGS) LIMITED 惠陶集團（控股）有限公司 (iv) 本 公 司 一 直 積 極 採 取 合 適 的 控 制 成 本 措 施，包 括 維 持 適 當 的 員 工 人 數 及 減 少 若 干 行 政 成 本。 董 事 會 將 繼 續 盡 力 落 實 有 關 措 施，以 解 決 與2024年 無 法 發 表 意 見 相 關 的 問 題， 並 將 適 時 再 作 公 佈。 承董事會命 惠 陶 集 團（控 股）有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）會（「董事會」）謹 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 惠陶集團（ 控股）有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08238 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | 本月底法定/註 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 惠陶集團（ 控股）有限公司 (於開曼群島註冊成立的有限公司) 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 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08238 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | 本月 ...

Group 1 - The company reported a revenue of 11.824 million HKD for the first half of 2025, representing a year-on-year increase of 54.12% [1] - The loss attributable to shareholders was 316,000 HKD, which expanded by 182.14% compared to the previous year [1] - The basic loss per share was 0.36 HKD cents [1]

WINTO GROUP (HOLDINGS) LIMITED 惠陶集團（控股）有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code: 8238) （股份代號：8238） 29 August 2025 Dear Non-Registered Holder(Note 1), Winto Group (Holdings) Limited (the "Company") – Notice of publication of 2025 Interim Report ("Current Corporate Communication") on the Company's website The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at www.wintogroup.hk and the web ...

WINTO GROUP (HOLDINGS) LIMITED 惠陶集團（控股）有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code: 8238) （股份代號：8238） NOTIFICATION LETTER 通知信函 29 August 2025 Dear Registered Shareholder, Winto Group (Holdings) Limited (the "Company") – Notice of publication of 2025 Interim Report ("Current Corporate Communication") on the Company's website The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.win ...

[Corporate Information](index=4&type=section&id=Corporate%20Information) This section details the company's governance structure, including board composition and committees, alongside essential corporate contact and registration information [Board of Directors and Committees](index=4&type=section&id=Board%20of%20Directors%20and%20Committees) The Board consists of one executive and three independent non-executive directors, with all key committees chaired by independent non-executive directors - Executive Director: **Ms. Liu Li**[10](index=10&type=chunk) - Independent Non-Executive Directors: **Ms. Huang Ziling** (also chairs Audit, Remuneration, Nomination, and Corporate Governance & Risk Management Committees), **Mr. Li Guolin**, **Mr. Lu Dewei**[10](index=10&type=chunk)[11](index=11&type=chunk) [Company Information](index=4&type=section&id=Company%20Information) The company's authorized representatives are Ms. Liu Li and Mr. Yu Yi, with its principal office in Hong Kong and registered office in the Cayman Islands - Authorized Representatives: **Ms. Liu Li**, **Mr. Yu Yi**[10](index=10&type=chunk) - Company Secretary: **Mr. Yu Yi**[10](index=10&type=chunk) - GEM Stock Code: **8238**[14](index=14&type=chunk) [Interim Results](index=7&type=section&id=Interim%20Results) This section presents the Group's unaudited condensed consolidated financial statements, including profit or loss, financial position, equity changes, and cash flows [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Total revenue grew **54.12%** to **HKD 11,824 thousand**, yet loss attributable to owners expanded to **HKD 316 thousand** due to increased costs and expenses Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (HKD thousands) | Metric | June 30, 2025 (HKD thousands) | June 30, 2024 (HKD thousands) | Change (HKD thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 11,824 | 7,672 | 4,152 | 54.12% | | Cost of Sales | (5,252) | (2,148) | (3,104) | 144.51% | | Gross Profit/(Loss) | 6,572 | 5,523 | 1,049 | 19.00% | | Operating Expenses | (6,373) | (5,422) | (951) | 17.54% | | Finance Costs | (638) | (556) | (82) | 14.75% | | Profit/(Loss) Before Taxation | (408) | (406) | (2) | 0.49% | | Total Profit/(Loss) and Comprehensive Income/(Expense) for the Period | (408) | (406) | (2) | 0.49% | | Profit/(Loss) Attributable to Owners of the Company | (316) | (112) | (204) | 182.14% | | Profit/(Loss) Attributable to Non-controlling Interests | (92) | (294) | 202 | -68.71% | | Basic and Diluted Loss Per Share (HK cents) | (0.36) | (0.18) | (0.18) | 100.00% | [Condensed Consolidated Statement of Financial Position](index=9&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Net liabilities slightly increased to **HKD 39,137 thousand** due to higher net current liabilities, with a significant inventory surge and reduced bank balances and cash Condensed Consolidated Statement of Financial Position (HKD thousands) | Metric | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (HKD thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Non-current Assets | 968 | 1,109 | (141) | -12.71% | | Current Assets | 27,773 | 27,377 | 396 | 1.45% | | Inventories | 4,544 | 1,004 | 3,540 | 352.59% | | Bank Balances and Cash | 5,027 | 9,590 | (4,563) | -47.58% | | Current Liabilities | 67,878 | 67,215 | 663 | 0.99% | | Net Current (Liabilities) | (40,105) | (39,838) | (267) | 0.67% | | Net (Liabilities) | (39,137) | (38,729) | (408) | 1.05% | | Total Equity | (39,137) | (38,729) | (408) | 1.05% | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=11&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Accumulated losses attributable to owners expanded to **HKD 180,326 thousand**, increasing total capital deficiency to **HKD 36,464 thousand** for the period Unaudited Condensed Consolidated Statement of Changes in Equity (HKD thousands) | Metric | January 1, 2025 (HKD thousands) | June 30, 2025 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | Share Capital | 17,419 | 17,419 | 0 | | Share Premium | 118,803 | 118,803 | 0 | | Accumulated Losses | (180,010) | (180,326) | (316) | | Total Capital Deficiency Attributable to Owners of the Company | (36,148) | (36,464) | (316) | | Non-controlling Interests | (2,581) | (2,673) | (92) | | Total Equity | (38,729) | (39,137) | (408) | [Unaudited Condensed Consolidated Statement of Cash Flows](index=12&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Net cash used in operating activities was **HKD 9,063 thousand**, resulting in a **HKD 4,563 thousand** decrease in cash and cash equivalents despite financing inflows Unaudited Condensed Consolidated Statement of Cash Flows (HKD thousands) | Metric | June 30, 2025 (HKD thousands) | June 30, 2024 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (9,063) | 3,016 | (12,079) | | Net Cash Used in Investing Activities | – | – | 0 | | Net Cash From Financing Activities | 4,500 | 4,859 | (359) | | Net Increase/(Decrease) in Cash and Cash Equivalents | (4,563) | 7,875 | (12,438) | | Cash and Cash Equivalents at January 1 | 9,590 | 3,552 | 6,038 | | Cash and Cash Equivalents at June 30 | 5,027 | 11,427 | (6,400) | [Notes to the Unaudited Condensed Consolidated Financial Information](index=12&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes on the Group's unaudited condensed consolidated financial information, including general data, accounting policies, and specific financial items [General Information and Basis of Preparation](index=13&type=section&id=General%20Information%20and%20Basis%20of%20Preparation) Incorporated in the Cayman Islands on **December 7, 2012**, and listed on GEM on **February 16, 2015**, the company presents financial results in **HKD** under **HKFRSs** - Company incorporated in Cayman Islands on **December 7, 2012**, and listed on GEM on **February 16, 2015**[25](index=25&type=chunk) - Financial results presented in **HKD** and prepared in accordance with **HKFRSs** and GEM Listing Rules[26](index=26&type=chunk)[27](index=27&type=chunk) [Significant Accounting Policies](index=13&type=section&id=Significant%20Accounting%20Policies) The Group adopted new and revised HKFRSs, including amendments to HKFRS 16, HKAS 1, HKAS 7, and HKFRS 7, with no significant impact on financial performance - The Group adopted new and revised HKFRSs, including amendments to **HKFRS 16, HKAS 1, HKAS 7, and HKFRS 7**[31](index=31&type=chunk)[32](index=32&type=chunk) - Adoption of new standards had **no significant impact** on current or prior period results and financial position[32](index=32&type=chunk) [Revenue](index=15&type=section&id=Revenue_Note) Total revenue from continuing operations grew **54.12%** to **HKD 11,824 thousand**, primarily driven by significant increases in luxury goods sales and publication and advertising income Revenue by Source (HKD thousands) | Revenue Source | June 30, 2025 (HKD thousands) | June 30, 2024 (HKD thousands) | Change (HKD thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Sales of Luxury Goods | 3,140 | 420 | 2,720 | 647.62% | | Publication and Advertising Income | 8,218 | 6,112 | 2,106 | 34.46% | | Outdoor Advertising Income | 242 | 738 | (496) | -67.21% | | Sales of Fast-Moving Consumer Goods | 224 | 402 | (178) | -44.28% | | **Total Revenue** | **11,824** | **7,672** | **4,152** | **54.12%** | [Profit/(Loss) Before Taxation](index=16&type=section&id=Profit%2F%28Loss%29%20Before%20Taxation_Note) Loss before taxation from continuing operations slightly increased from **HKD 406 thousand** in 2024 to **HKD 408 thousand** in 2025, mainly due to higher interest on other borrowings Profit/(Loss) Before Taxation Items (HKD thousands) | Item | June 30, 2025 (HKD thousands) | June 30, 2024 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | Depreciation of Plant and Equipment | 141 | 123 | 18 | | Operating Lease Expenses for Office Properties | 522 | 528 | (6) | | Interest on Loans from Major Shareholders | – | 16 | (16) | | Interest on Other Borrowings | 638 | 540 | 98 | [Income Tax Expenses](index=17&type=section&id=Income%20Tax%20Expenses) The Group incurred no income tax expense in Hong Kong or Macau for the period, as it had no assessable profits in either jurisdiction - **Hong Kong profits tax** and **Macau complementary income tax** were zero[42](index=42&type=chunk) - Hong Kong operates a two-tiered profits tax system, but the Group had **no assessable profits** in Hong Kong[42](index=42&type=chunk) - Macau complementary income tax is calculated at **12%** of estimated assessable profits[43](index=43&type=chunk) [Dividend](index=18&type=section&id=Dividend) No dividends were paid or proposed for the six months ended June 30, 2025, consistent with the prior corresponding period - **No dividends** paid or proposed for the six months ended June 30, 2025, and 2024[47](index=47&type=chunk) [Profit/(Loss) Per Share](index=18&type=section&id=Profit%2F%28Loss%29%20Per%20Share) Basic loss per share attributable to owners increased from **0.18 HK cents** to **0.36 HK cents**, with no diluted loss per share presented due to the absence of potential ordinary shares Profit/(Loss) Per Share (HKD thousands, except per share data) | Metric | June 30, 2025 (HKD thousands) | June 30, 2024 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | Profit/(Loss) Attributable to Owners of the Company | (316) | (112) | (204) | | Weighted Average Number of Ordinary Shares | 87,091,200 | 62,413,081 | 24,678,119 | | Basic and Diluted Loss Per Share (HK cents) | (0.36) | (0.18) | (0.18) | - **No diluted profit or loss per share** presented due to the absence of potential ordinary shares outstanding during the period[52](index=52&type=chunk) [Trade and Other Receivables](index=19&type=section&id=Trade%20and%20Other%20Receivables) Total trade receivables increased to **HKD 41,594 thousand**, with overdue amounts exceeding 365 days forming the largest portion at **HKD 37,193 thousand** - Credit terms determined by sales team based on **customer payment history, transaction volume, and length of business relationship**[53](index=53&type=chunk) Trade and Other Receivables by Ageing (HKD thousands) | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | 1–30 Days | 4,030 | 849 | 3,181 | | 31–90 Days | 273 | 468 | (195) | | 91–365 Days | 98 | 3,455 | (3,357) | | Over 365 Days | 37,193 | 35,403 | 1,790 | | **Total** | **41,594** | **40,175** | **1,419** | [Trade Payables](index=20&type=section&id=Trade%20Payables) Total trade payables amounted to **HKD 9,422 thousand**, a decrease from 2024 year-end, with overdue amounts exceeding 90 days still forming the major portion Trade Payables by Ageing (HKD thousands) | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | 0–60 Days | 157 | – | 157 | | 61–90 Days | 1,361 | – | 1,361 | | Over 90 Days | 7,904 | 10,957 | (3,053) | | **Total** | **9,422** | **10,957** | **(1,535)** | [Share Capital](index=21&type=section&id=Share%20Capital) The company's authorized and issued share capital remained unchanged at **500,000,000** and **87,091,200** ordinary shares, respectively, as of June 30, 2025 Share Capital | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Number of Authorized Ordinary Shares | 500,000,000 | 500,000,000 | | Authorized Share Capital (HKD thousands) | 100,000 | 100,000 | | Number of Issued and Fully Paid Ordinary Shares | 87,091,200 | 87,091,200 | | Issued and Fully Paid Share Capital (HKD thousands) | 17,418 | 17,418 | [Management Discussion and Analysis](index=22&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the Group's business operations, financial performance, liquidity, and risk management strategies for the interim period [Business Review and Prospects](index=22&type=section&id=Business%20Review%20and%20Prospects) The Group engaged in exhibition, publications, online beauty sales, and luxury goods, focusing on stable development amidst economic uncertainties and shareholder returns - Principal businesses include **exhibition and trade fairs, publications and advertising, online sales of beauty and cosmetics, and luxury goods sales**[61](index=61&type=chunk) - The Group will closely monitor economic uncertainties, formulate strategies for **stable development**, and aim to deliver returns to shareholders[62](index=62&type=chunk)[65](index=65&type=chunk) [Financial Review](index=22&type=section&id=Financial%20Review) Significant revenue growth was observed, but increased cost of sales and operating expenses led to an expanded loss attributable to owners, with finance costs mainly from other borrowings [Revenue](index=22&type=section&id=Revenue_MD%26A) Total revenue increased by **54.12%** to **HKD 11,824 thousand**, primarily driven by growth in luxury goods sales and publication and advertising income - Total revenue increased from **HKD 7,672 thousand** in 2024 to **HKD 11,824 thousand** in 2025, a growth of approximately **HKD 4,152 thousand (54.12%)**[63](index=63&type=chunk)[66](index=66&type=chunk) - Primarily due to increased **luxury goods sales** and **publication and advertising income**[63](index=63&type=chunk)[66](index=66&type=chunk) [Cost of Sales](index=22&type=section&id=Cost%20of%20Sales) Cost of sales significantly increased by **144.51%** from **HKD 2,148 thousand** to **HKD 5,252 thousand**, consistent with the rise in luxury goods sales revenue - Cost of sales increased from **HKD 2,148 thousand** in 2024 to **HKD 5,252 thousand** in 2025[64](index=64&type=chunk)[67](index=67&type=chunk) - Growth is consistent with the increase in **luxury goods sales revenue**[64](index=64&type=chunk)[67](index=67&type=chunk) [Gross Profit](index=23&type=section&id=Gross%20Profit) Gross profit shifted from a **loss of HKD 2,148 thousand** to a **profit of HKD 5,242 thousand**, mainly due to increased publication and advertising income - Gross profit increased from a **loss of HKD 2,148 thousand** in 2024 to a **profit of HKD 5,242 thousand** in 2025[68](index=68&type=chunk)[72](index=72&type=chunk) - Primarily due to increased **publication revenue and advertising income**[68](index=68&type=chunk)[72](index=72&type=chunk) [Operating Expenses](index=23&type=section&id=Operating%20Expenses) Operating expenses increased by approximately **18%** from **HKD 5,422 thousand** to **HKD 6,373 thousand**, mainly attributable to higher staff costs - Operating expenses increased by approximately **18%** from **HKD 5,422 thousand** in 2024 to **HKD 6,373 thousand** in 2025[69](index=69&type=chunk)[73](index=73&type=chunk) - Mainly due to increased **staff costs**[69](index=69&type=chunk)[73](index=73&type=chunk) [Finance Costs](index=23&type=section&id=Finance%20Costs) Finance costs were approximately **HKD 638 thousand**, primarily comprising interest on other borrowings for the six months ended June 30, 2025 - Finance costs were approximately **HKD 638 thousand**[70](index=70&type=chunk)[74](index=74&type=chunk) - Primarily comprised **interest on other borrowings**[70](index=70&type=chunk)[74](index=74&type=chunk) [Profit/(Loss) Attributable to Owners of the Company](index=23&type=section&id=Profit%2F%28Loss%29%20Attributable%20to%20Owners%20of%20the%20Company) Loss attributable to owners increased from **HKD 112 thousand** in 2024 to **HKD 316 thousand** in 2025 - Loss attributable to owners increased from **HKD 112 thousand** in 2024 to **HKD 316 thousand** in 2025[71](index=71&type=chunk)[75](index=75&type=chunk) [Use of Proceed from Placing](index=24&type=section&id=Use%20of%20Proceed%20from%20Placing) Net proceeds of approximately **HKD 3.94 million** from the second placing were fully utilized for business operations, development, and general working capital, with no change in intended use - Net proceeds from the second placing in 2024 were approximately **HKD 3.94 million**[77](index=77&type=chunk)[79](index=79&type=chunk) - Funds were used for **current business operations, development, and general working capital**[77](index=77&type=chunk)[79](index=79&type=chunk) - As of June 30, 2025, **all net proceeds have been utilized**[81](index=81&type=chunk) - **No significant changes** in the intended use of net proceeds[82](index=82&type=chunk)[87](index=87&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=25&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The current ratio decreased to approximately **0.4 times**, and bank balances and cash reduced to **HKD 5,027 thousand**, with no change in capital structure or bank loans - Current ratio decreased from approximately **0.6 times** as of December 31, 2024, to approximately **0.4 times** as of June 30, 2025[83](index=83&type=chunk)[88](index=88&type=chunk) - Capital structure remained **unchanged** during the period, with share capital comprising only ordinary shares[83](index=83&type=chunk)[88](index=88&type=chunk) - Bank balances and cash decreased from **HKD 9,590 thousand** as of December 31, 2024, to **HKD 5,027 thousand** as of June 30, 2025[84](index=84&type=chunk)[88](index=88&type=chunk) - The Group had **no bank loans** as of June 30, 2025[84](index=84&type=chunk)[89](index=89&type=chunk) [Gearing Ratio](index=25&type=section&id=Gearing%20Ratio) The gearing ratio improved to approximately **19%** as of June 30, 2025, from approximately **31%** as of December 31, 2024 - Gearing ratio decreased from approximately **31%** as of December 31, 2024, to approximately **19%** as of June 30, 2025[85](index=85&type=chunk)[90](index=90&type=chunk) [Significant Investments Held](index=25&type=section&id=Significant%20Investments%20Held) The Group held no significant investments for the six months ended June 30, 2025 - The Group held **no significant investments** for the six months ended June 30, 2025[91](index=91&type=chunk) [Material Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures](index=26&type=section&id=Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20and%20Joint%20Ventures) The Group had no material acquisitions or disposals of subsidiaries, associates, or joint ventures for the six months ended June 30, 2025 - The Group had **no material acquisitions or disposals** of subsidiaries, associates, or joint ventures for the six months ended June 30, 2025[92](index=92&type=chunk)[97](index=97&type=chunk) [Pledge of Assets](index=26&type=section&id=Pledge%20of%20Assets) The Group had no significant pledge of assets as of June 30, 2025 - The Group had **no significant pledge of assets** as of June 30, 2025[93](index=93&type=chunk)[97](index=97&type=chunk) [Contingent Liabilities](index=26&type=section&id=Contingent%20Liabilities) The Group had no significant contingent liabilities as of June 30, 2025 - The Group had **no significant contingent liabilities** as of June 30, 2025[94](index=94&type=chunk)[97](index=97&type=chunk) [Capital Commitments](index=26&type=section&id=Capital%20Commitments) The Group had no significant capital commitments as of June 30, 2025 - The Group had **no significant capital commitments** as of June 30, 2025[95](index=95&type=chunk)[97](index=97&type=chunk) [Future Plans for Material Investments and Capital Assets](index=26&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) The Group has no other future plans for material investments and capital assets beyond those disclosed in this interim report - The Group has **no other future plans** for material investments and capital assets beyond those disclosed in this interim report[96](index=96&type=chunk)[98](index=98&type=chunk) [Employees and Remuneration Policies](index=27&type=section&id=Employees%20and%20Remuneration%20Policies) The Group had approximately **11 employees**, with staff costs increasing to **HKD 1,363 thousand**, offering competitive remuneration, performance reviews, bonuses, training, and share option schemes - As of June 30, 2025, the number of employees (excluding directors) was approximately **11** (December 31, 2024: approximately 12)[100](index=100&type=chunk)[102](index=102&type=chunk) - Staff costs (including directors' emoluments, allowances, and bonuses) were approximately **HKD 1,363 thousand** (2024: approximately HKD 1,124 thousand)[100](index=100&type=chunk)[102](index=102&type=chunk) - The Group offers **competitive remuneration**, annual performance reviews, bonuses, training, and share option schemes[101](index=101&type=chunk)[102](index=102&type=chunk) [Interim Dividend](index=28&type=section&id=Interim%20Dividend) The Board recommended no interim dividend to retain cash for working capital and future development, with future distributions subject to the company's dividend policy - The Board recommended **no interim dividend** for the six months ended June 30, 2025 (2024: nil)[103](index=103&type=chunk)[107](index=107&type=chunk) - Aimed at retaining more cash for **working capital needs and future development**[103](index=103&type=chunk)[107](index=107&type=chunk) [Risk Management](index=28&type=section&id=Risk%20Management) The Group manages currency, interest rate, credit, and liquidity risks, anticipating no significant currency or interest rate risks due to functional currency denomination and limited fixed-rate borrowing [Currency Risk](index=28&type=section&id=Currency%20Risk) The Group's monetary assets and liabilities are primarily denominated in HKD and MOP, aligning with functional currencies, thus no significant currency risk is anticipated - The vast majority of monetary assets and liabilities are denominated in **HKD and MOP**[104](index=104&type=chunk)[108](index=108&type=chunk) - The Group **does not anticipate any significant currency risk**[104](index=104&type=chunk)[108](index=108&type=chunk) [Interest Rate Risk](index=28&type=section&id=Interest%20Rate%20Risk) The Group faces fair value interest rate risk related to fixed-rate other borrowings but does not anticipate any significant interest rate risk materially affecting its operating results - The Group faces **fair value interest rate risk** related to fixed-rate other borrowings[105](index=105&type=chunk)[109](index=109&type=chunk) - **No significant interest rate risk** is anticipated[105](index=105&type=chunk)[109](index=109&type=chunk) [Credit Risk](index=28&type=section&id=Credit%20Risk) Credit risk is managed by transacting with reputable counterparties, obtaining collateral, and regularly assessing major clients' creditworthiness, with limited credit risk from bank balances - Policy adopted to transact only with **reputable counterparties** and obtain sufficient collateral when appropriate[106](index=106&type=chunk)[110](index=110&type=chunk) - Regular credit assessments of major customers, focusing on **payment history and current payment ability**[111](index=111&type=chunk)[114](index=114&type=chunk) - Credit risk from bank balances is limited as counterparties are **highly-rated banks**[112](index=112&type=chunk)[115](index=115&type=chunk) [Liquidity Risk](index=29&type=section&id=Liquidity%20Risk) The Group regularly monitors current and anticipated liquidity needs and compliance with loan covenants to ensure sufficient cash and committed credit facilities from major financial institutions - Regularly monitors **current and anticipated liquidity needs** and compliance with loan covenants[113](index=113&type=chunk)[116](index=116&type=chunk) - Ensures **sufficient cash** and adequate committed facilities from major financial institutions[113](index=113&type=chunk)[116](index=116&type=chunk) [Other Information](index=29&type=section&id=Other%20Information) This section covers directors' and substantial shareholders' interests, share option schemes, securities transactions, corporate governance, and post-reporting period events [Directors and Chief Executives' Interests and/or Short Positions in Shares, Underlying Shares and Debentures of the Company or Any Associated Corporations](index=30&type=section&id=Directors%20and%20Chief%20Executives%27%20Interests%20and%2For%20Short%20Positions%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company%20or%20Any%20Associated%20Corporations) As of June 30, 2025, Mr. Lu Man Wah held **343,300 shares** (long position) through Creative Source International Limited, representing approximately **0.04%** of the share capital Directors' Interests in Shares | Director Name | Capacity | Interest in Shares | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Mr. Lu Man Wah | Controlled Corporation Interest | 343,300 (L) | 0.04% | [Substantial Shareholders' and Other Persons' Interests and/or Short Positions in Shares and Underlying Shares of the Company](index=32&type=section&id=Substantial%20Shareholders%27%20and%20Other%20Persons%27%20Interests%20and%2For%20Short%20Positions%20in%20Shares%20and%20Underlying%20Shares%20of%20the%20Company) As of June 30, 2025, Muhammad Shaifadila Binti, as beneficial owner, held **39,376,000 shares** (long position), representing approximately **4.52%** of the share capital Substantial Shareholders' Interests in Shares | Shareholder Name | Capacity | Number of Shares or Underlying Shares | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Muhammad Shaifadila Binti | Beneficial Owner | 39,376,000 (L) | 4.52% | [Share Option Scheme](index=33&type=section&id=Share%20Option%20Scheme) The Group's share option scheme, adopted on **February 16, 2015**, expired on **February 16, 2025** - The share option scheme was adopted on **February 16, 2015**, and expired on **February 16, 2025**[127](index=127&type=chunk)[131](index=131&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=33&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities for the six months ended June 30, 2025 - For the six months ended June 30, 2025, neither the company nor its subsidiaries **purchased, sold, or redeemed any of the company's listed securities**[128](index=128&type=chunk)[132](index=132&type=chunk) [Changes of Directors' Information Under Rule 17.50A(1) of the GEM Listing Rules](index=33&type=section&id=Changes%20of%20Directors%27%20Information%20Under%20Rule%2017.50A%281%29%20of%20the%20GEM%20Listing%20Rules) The company was unaware of any changes in directors' information requiring disclosure under **GEM Listing Rule 17.50A(1)** as of June 30, 2025 - As of June 30, 2025, the company was **unaware of any changes in directors' information** requiring disclosure under GEM Listing Rule 17.50A(1)[129](index=129&type=chunk)[133](index=133&type=chunk) [Code of Conduct for Directors' Securities Transactions](index=34&type=section&id=Code%20of%20Conduct%20for%20Directors%27%20Securities%20Transactions) The company adopted a code of conduct for directors' securities transactions, and all directors confirmed compliance for the period - The company adopted a **code of conduct for directors' securities transactions**, and all directors confirmed compliance[136](index=136&type=chunk)[138](index=138&type=chunk) [Directors and Controlling Shareholders' Interests in Competing Business](index=34&type=section&id=Directors%20and%20Controlling%20Shareholders%27%20Interests%20in%20Competing%20Business) Directors were unaware of any competing businesses or conflicts of interest held by directors, controlling shareholders, or their associates for the period - Directors were **unaware of any competing businesses or conflicts of interest** held by directors, controlling shareholders, or their associates[137](index=137&type=chunk)[139](index=139&type=chunk) [Corporate Governance](index=35&type=section&id=Corporate%20Governance) The company complied with the Corporate Governance Code, except for the separation of Chairman and CEO roles, as it currently has no CEO - The company complied with the Corporate Governance Code, except for **Rule A.2.1** (separation of Chairman and CEO roles)[140](index=140&type=chunk)[143](index=143&type=chunk) - The company currently has **no Chief Executive Officer**, with decisions made by the Executive Director and overseen by the Board[141](index=141&type=chunk)[143](index=143&type=chunk) [Event After the Reporting Period](index=36&type=section&id=Event%20After%20the%20Reporting%20Period) Directors were unaware of any significant events related to the Group's business or financial performance subsequent to the reporting period and up to the report date - Subsequent to the reporting period and up to the report date, directors were **unaware of any significant events** related to the Group's business or financial performance[146](index=146&type=chunk)[149](index=149&type=chunk) [Audit Committee and Review of Financial Statements](index=36&type=section&id=Audit%20Committee%20and%20Review%20of%20Financial%20Statements) The Audit Committee reviewed the unaudited interim report and financial results, which were not audited by the company's auditor, and recommended them for Board approval - The Audit Committee was established in accordance with the **GEM Listing Rules** and comprises independent non-executive directors[147](index=147&type=chunk)[150](index=150&type=chunk) - The Audit Committee reviewed this interim report and the **unaudited condensed consolidated financial results**[148](index=148&type=chunk)[150](index=150&type=chunk) - The Group's condensed consolidated financial results for the six months ended June 30, 2025, were **not audited by the company's auditor**[151](index=151&type=chunk)

[Corporate Information](index=6&type=section&id=Corporate%20Information) This chapter outlines Wintop Group (Holdings) Limited's fundamental corporate information, covering board members, authorized representatives, key committees, principal addresses, auditor, bankers, legal advisor, and share registrars [Board of Directors](index=6&type=section&id=BOARD%20OF%20DIRECTORS) The Board of Directors consists of one executive director and three independent non-executive directors - Executive Director: Ms. Liu Li[17](index=17&type=chunk)[18](index=18&type=chunk) - Independent Non-Executive Directors: Ms. Wong Tsz Ling, Mr. Li Kwok Lun, Mr. Lo Tak Wai[17](index=17&type=chunk)[18](index=18&type=chunk) [Authorized Representatives](index=6&type=section&id=AUTHORISED%20REPRESENTATIVES) The company's authorized representatives are Ms. Liu Li and Mr. Yu Yi - Authorized Representatives: Ms. Liu Li, Mr. Yu Yi[17](index=17&type=chunk)[18](index=18&type=chunk) [Company Secretary](index=6&type=section&id=COMPANY%20SECRETARY) The company secretary is Mr. Yu Yi - Company Secretary: Mr. Yu Yi[17](index=17&type=chunk)[18](index=18&type=chunk) [Audit Committee](index=6&type=section&id=AUDIT%20COMMITTEE) The Audit Committee comprises three independent non-executive directors, with Ms. Wong Tsz Ling as chairperson - Chairperson: Ms. Wong Tsz Ling[17](index=17&type=chunk)[18](index=18&type=chunk) - Members: Mr. Li Kwok Lun, Mr. Lo Tak Wai[17](index=17&type=chunk)[18](index=18&type=chunk) [Remuneration Committee](index=6&type=section&id=REMUNERATION%20COMMITTEE) The Remuneration Committee comprises three independent non-executive directors, with Ms. Wong Tsz Ling as chairperson - Chairperson: Ms. Wong Tsz Ling[17](index=17&type=chunk)[18](index=18&type=chunk) - Members: Mr. Li Kwok Lun, Mr. Lo Tak Wai[17](index=17&type=chunk)[18](index=18&type=chunk) [Nomination Committee](index=6&type=section&id=NOMINATION%20COMMITTEE) The Nomination Committee comprises three independent non-executive directors, with Ms. Wong Tsz Ling as chairperson - Chairperson: Ms. Wong Tsz Ling[17](index=17&type=chunk)[18](index=18&type=chunk) - Members: Mr. Li Kwok Lun, Mr. Lo Tak Wai[17](index=17&type=chunk)[18](index=18&type=chunk) [Corporate Governance and Risk Management Committee](index=6&type=section&id=CORPORATE%20GOVERNANCE%20AND%20RISK%20MANAGEMENT%20COMMITTEE) The Corporate Governance and Risk Management Committee comprises three independent non-executive directors, with Ms. Wong Tsz Ling as chairperson - Chairperson: Ms. Wong Tsz Ling[17](index=17&type=chunk)[18](index=18&type=chunk) - Members: Mr. Li Kwok Lun, Mr. Lo Tak Wai[17](index=17&type=chunk)[18](index=18&type=chunk) [Head Office and Principal Place of Business](index=7&type=section&id=HEAD%20OFFICE%20AND%20PRINCIPAL%20PLACE%20OF%20BUSINESS) The company's head office and principal place of business is located at Room 913, 9/F, Chinachem Plaza, 77 Mody Road, Tsimshatsui East, Kowloon, Hong Kong - Address: Room 913, 9/F, Chinachem Plaza, 77 Mody Road, Tsimshatsui East, Kowloon, Hong Kong[19](index=19&type=chunk)[20](index=20&type=chunk) [Auditor](index=7&type=section&id=AUDITOR) The company's auditor is High Praise CPA Limited - Auditor: High Praise CPA Limited[19](index=19&type=chunk)[20](index=20&type=chunk) [Principal Bankers](index=7&type=section&id=PRINCIPAL%20BANKERS) The company's principal bankers include Bank of Communications Co, Ltd and The Hongkong and Shanghai Banking Corporation Limited - Principal Bankers: Bank of Communications Co, Ltd, The Hongkong and Shanghai Banking Corporation Limited[19](index=19&type=chunk)[20](index=20&type=chunk) [Legal Advisor](index=7&type=section&id=LEGAL%20ADVISOR) The company's legal advisor is Y.T. Hui, C.W. Kan & Co, located at Unit A1, 11/F, Hyde Centre, 18 Luard Road, Wanchai, Hong Kong - Legal Advisor: Y.T. Hui, C.W. Kan & Co[19](index=19&type=chunk)[20](index=20&type=chunk) - Address: Unit A1, 11/F, Hyde Centre, 18 Luard Road, Wanchai, Hong Kong[19](index=19&type=chunk)[20](index=20&type=chunk) [Registered Office](index=7&type=section&id=REGISTERED%20OFFICE) The company's registered office is located at Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands - Address: Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands[19](index=19&type=chunk)[20](index=20&type=chunk) [Company Website](index=7&type=section&id=COMPANY%20WEBSITE) The company's website is http://www.wintogroup.hk - Company Website: http://www.wintogroup.hk[20](index=20&type=chunk) [Principal Share Registrar and Transfer Office](index=7&type=section&id=PRINCIPAL%20SHARE%20REGISTRAR%20AND%20TRANSFER%20OFFICE) The company's principal share registrar and transfer office is Conyers Trust Company (Cayman) Limited - Principal Share Registrar and Transfer Office: Conyers Trust Company (Cayman) Limited[20](index=20&type=chunk) - Address: Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands[20](index=20&type=chunk) [Hong Kong Branch Share Registrar and Transfer Office](index=8&type=section&id=HONG%20KONG%20BRANCH%20SHARE%20REGISTRAR%20AND%20TRANSFER%20OFFICE) The company's Hong Kong branch share registrar and transfer office is Tricor Investor Services Limited - Hong Kong Branch Share Registrar and Transfer Office: Tricor Investor Services Limited[21](index=21&type=chunk) - Address: 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong[21](index=21&type=chunk) [GEM Stock Code](index=8&type=section&id=GEM%20STOCK%20CODE) The company's GEM stock code is 8238 - GEM Stock Code: 8238[21](index=21&type=chunk) [Interim Results](index=9&type=section&id=Interim%20Results) This chapter presents Wintop Group's unaudited condensed consolidated financial information for the six months ended June 30, 2025, including statements of profit or loss, financial position, changes in equity, and cash flows, with comparative data and detailed notes [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group experienced significant revenue growth, but increased cost of sales and operating expenses led to an expanded loss attributable to owners of the Company Statement of Profit or Loss and Other Comprehensive Income for the Six Months Ended June 30, 2025 | Indicator | 2025 (HK$'000) | 2024 (HK$'000) | Change (HK$'000) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Revenue | 11,824 | 7,672 | 4,152 | 54.12% | | Cost of Sales | (5,252) | (2,148) | (3,104) | 144.51% | | Gross Profit/(Loss) | 6,572 | 5,523 | 1,049 | 19.00% | | Other Income | 31 | 48 | (17) | -35.42% | | Operating Expenses | (6,373) | (5,422) | (951) | 17.54% | | Finance Costs | (638) | (556) | (82) | 14.75% | | Profit/(Loss) Before Taxation | (408) | (406) | (2) | 0.49% | | Income Tax Expense | – | – | – | 0.00% | | Profit/(Loss) and Total Comprehensive Income/(Expense) for the Period | (408) | (406) | (2) | 0.49% | | Profit/(Loss) Attributable to Owners of the Company | (316) | (112) | (204) | 182.14% | | Profit/(Loss) Attributable to Non-controlling Interests | (92) | (294) | 202 | -68.71% | | Basic and Diluted Profit/(Loss) Per Share (HK cents) | (0.36) | (0.18) | (0.18) | 100.00% | [Condensed Consolidated Statement of Financial Position](index=11&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's current assets slightly increased, but a rise in current liabilities led to a further expansion of net current liabilities and total equity deficiency Condensed Consolidated Statement of Financial Position as at June 30, 2025 | Indicator | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | Change (HK$'000) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | **Non-current Assets** | | | | | | Plant and Equipment | 638 | 779 | (141) | -18.10% | | Intangible Assets | 330 | 330 | 0 | 0.00% | | **Current Assets** | | | | | | Inventories | 4,544 | 1,004 | 3,540 | 352.59% | | Trade and Other Receivables and Deposits | 16,793 | 15,374 | 1,419 | 9.23% | | Amount Due from a Shareholder | 1,379 | 1,379 | 0 | 0.00% | | Amount Due from a Non-controlling Shareholder of a Subsidiary | 30 | 30 | 0 | 0.00% | | Bank Balances and Cash | 5,027 | 9,590 | (4,563) | -47.58% | | **Current Liabilities** | | | | | | Trade and Other Payables | 22,731 | 26,660 | (3,929) | -14.74% | | Provisions | 37,489 | 37,489 | 0 | 0.00% | | Contract Liabilities | 1 | 1 | 0 | 0.00% | | Other Borrowings | 7,300 | 2,800 | 4,500 | 160.71% | | Amount Due to a Director of a Subsidiary | 357 | 265 | 92 | 34.72% | | **Net (Liabilities)/Assets** | (39,137) | (38,729) | (408) | 1.05% | | **Total Equity** | (39,137) | (38,729) | (408) | 1.05% | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=13&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, the Group's accumulated losses and losses attributable to non-controlling interests both increased, leading to a further expansion of the total capital deficiency attributable to owners of the Company Statement of Changes in Equity for the Six Months Ended June 30, 2025 | Indicator | As at January 1, 2025 (HK$'000) | Total Comprehensive Expense for the Period (HK$'000) | As at June 30, 2025 (HK$'000) | | :--- | :--- | :--- | :--- | | Share Capital | 17,419 | – | 17,419 | | Share Premium | 118,803 | – | 118,803 | | Statutory Reserve | 49 | – | 49 | | Capital Reserve | 7,591 | – | 7,591 | | Accumulated Losses | (180,010) | (316) | (180,326) | | Subtotal (Attributable to Owners of the Company) | (36,148) | (316) | (36,464) | | Non-controlling Interests | (2,581) | (92) | (2,673) | | Total | (38,729) | (408) | (39,137) | [Unaudited Condensed Consolidated Statement of Cash Flows](index=14&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, the Group generated net cash outflow from operating activities, and despite inflows from financing activities, total cash and cash equivalents saw a net decrease Statement of Cash Flows for the Six Months Ended June 30, 2025 | Activity | 2025 (HK$'000) | 2024 (HK$'000) | Change (HK$'000) | | :--- | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (9,063) | 3,016 | (12,079) | | Net Cash Used in Investing Activities | – | – | – | | Net Cash From Financing Activities | 4,500 | 4,859 | (359) | | Net Increase/(Decrease) in Cash and Cash Equivalents | (4,563) | 7,875 | (12,438) | | Cash and Cash Equivalents at January 1 | 9,590 | 3,552 | 6,038 | | Cash and Cash Equivalents at June 30 | 5,027 | 11,427 | (6,400) | [Notes to the Unaudited Condensed Consolidated Financial Information](index=15&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes to the unaudited condensed consolidated financial information, covering general company information, accounting policies, revenue analysis by segment, profit/loss before taxation, income tax, dividends, earnings per share, aging analysis of receivables and payables, and share capital structure [1. General Information and Basis of Preparation](index=15&type=section&id=1.%20GENERAL%20INFORMATION%20AND%20BASIS%20OF%20PREPARATION) This note describes the company's registration details, listing date, presentation currency, and the accounting standards used for financial statement preparation - The Company was incorporated in the Cayman Islands on December 7, 2012, and listed on GEM on February 16, 2015[32](index=32&type=chunk)[36](index=36&type=chunk) - Financial results are presented in Hong Kong Dollars and prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) issued by the Hong Kong Institute of Certified Public Accountants and the GEM Listing Rules[33](index=33&type=chunk)[34](index=34&type=chunk)[36](index=36&type=chunk) [2. Significant Accounting Policies](index=15&type=section&id=2.%20SIGNIFICANT%20ACCOUNTING%20POLICIES) This note outlines the newly adopted and revised HKFRSs by the Group, confirming no material impact on current or prior period results and financial position - The Group has initially adopted the following new and revised HKFRSs: Amendments to HKFRS 16, Amendments to HKAS 1 (two items), Amendments to HKAS 7 and HKFRS 7[38](index=38&type=chunk)[39](index=39&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk) - The adoption of new standards had no significant impact on the results and financial position for the current and prior accounting periods[39](index=39&type=chunk)[42](index=42&type=chunk) [3. Revenue](index=17&type=section&id=3.%20REVENUE) This note provides an analysis of the Group's revenue from continuing operations, indicating that sales of luxury goods and publication and advertising income are the main growth drivers Revenue Analysis from Continuing Operations | Business Segment | 2025 (HK$'000) | 2024 (HK$'000) | Change (HK$'000) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Sales of luxury goods | 3,140 | 420 | 2,720 | 647.62% | | Publication and advertising income | 8,218 | 6,112 | 2,106 | 34.46% | | Outdoor advertising income | 242 | 738 | (496) | -67.21% | | Provision of exhibition and trade fair and related services | – | – | – | 0.00% | | Sales of fast-moving consumer goods | 224 | 402 | (178) | -44.28% | | **Total Revenue** | **11,824** | **7,672** | **4,152** | **54.12%** | [4. Profit/(Loss) Before Taxation](index=18&type=section&id=4.%20PROFIT%2F(LOSS)%20BEFORE%20TAXATION) This note lists the main expenses affecting profit/loss before taxation, including depreciation of plant and equipment, operating lease expenses for office properties, and interest on other borrowings Composition of Profit/(Loss) Before Taxation | Item | 2025 (HK$'000) | 2024 (HK$'000) | Change (HK$'000) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Depreciation of plant and equipment | 141 | 123 | 18 | 14.63% | | Operating lease expenses for office properties | 522 | 528 | (6) | -1.14% | | Interest on loan from a major shareholder | – | 16 | (16) | -100.00% | | Interest on other borrowings | 638 | 540 | 98 | 18.15% | [5. Income Tax Expenses](index=19&type=section&id=5.%20INCOME%20TAX%20EXPENSES) This note explains the Group's income tax policies in Hong Kong and Macau, noting that the Hong Kong two-tiered profits tax system has no impact due to the absence of assessable profits in Hong Kong - Hong Kong Profits Tax: Eligible group entities are taxed at 8.25% on the first **HK$2,000,000** of profits and 16.5% on the remainder; the Group has no assessable profits in Hong Kong, thus no impact[49](index=49&type=chunk)[51](index=51&type=chunk) - Macau Complementary Income Tax: Calculated at 12% on the estimated assessable profits for the year[50](index=50&type=chunk)[52](index=52&type=chunk) [6. Dividend](index=20&type=section&id=6.%20DIVIDEND) This note confirms that no dividends were paid or proposed for the six months ended June 30, 2025 - No dividends were paid or proposed for the six months ended June 30, 2025 (2024: nil)[54](index=54&type=chunk)[55](index=55&type=chunk) [7. Profit/(Loss) Per Share](index=20&type=section&id=7.%20PROFIT%2F(LOSS)%20PER%20SHARE) This note details the calculation of basic and diluted loss per share and explains why share options were not assumed to be converted in the diluted calculation Profit/(Loss) Per Share Calculation | Indicator | 2025 (HK$'000) | 2024 (HK$'000) | | :--- | :--- | :--- | | Profit/(Loss) for the period attributable to owners of the Company | (316) | (112) | | Weighted average number of ordinary shares for basic profit/(loss) per share calculation | 87,091,200 | 62,413,081 | | Basic and diluted (loss)/profit per share (HK cents) | (0.36) | (0.18) | - The calculation of diluted profit or loss per share did not assume the conversion of the Company's outstanding share options, as their exercise would result in a reduction in loss per share from continuing operations[57](index=57&type=chunk)[59](index=59&type=chunk) [8. Trade and Other Receivables](index=21&type=section&id=8.%20TRADE%20AND%20OTHER%20RECEIVABLES) This note outlines the Group's credit policy and provides an aging analysis of trade receivables, showing a significant portion of receivables outstanding for over 365 days - The credit period granted to each of the Group's customers is determined by the sales team and subject to review and approval by management based on the customer's payment record, transaction volume, and length of business relationship[60](index=60&type=chunk)[61](index=61&type=chunk) Aging Analysis of Trade Receivables (by overdue days) | Overdue Days | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | 1 to 30 days | 4,030 | 849 | | 31 to 90 days | 273 | 468 | | 91 to 365 days | 98 | 3,455 | | Over 365 days | 37,193 | 35,403 | | **Total** | **41,594** | **40,175** | [9. Trade Payables](index=22&type=section&id=9.%20TRADE%20PAYABLES) This note provides an aging analysis of trade payables, indicating that most payables are aged over 90 days Aging Analysis of Trade Payables (by invoice date) | Invoice Date | June 30, 2025 (HK$'000) | December 31, 2024 (HK$'000) | | :--- | :--- | :--- | | 0 to 60 days | 157 | – | | 61 to 90 days | 1,361 | – | | Over 90 days | 7,904 | 10,957 | | **Total** | **9,422** | **10,957** | [10. Share Capital](index=23&type=section&id=10.%20SHARE%20CAPITAL) This note details the company's authorized and issued share capital, which remained unchanged as of June 30, 2025, compared to December 31, 2024 Share Capital Structure | Class | Number of Shares as at June 30, 2025 | Share Capital as at June 30, 2025 (HK$'000) | Number of Shares as at December 31, 2024 | Share Capital as at December 31, 2024 (HK$'000) | | :--- | :--- | :--- | :--- | :--- | | Authorized ordinary shares | 500,000,000 | 100,000 | 500,000,000 | 100,000 | | Issued and fully paid ordinary shares | 87,091,200 | 17,418 | 87,091,200 | 17,418 | [Management Discussion and Analysis](index=24&type=section&id=Management%20Discussion%20and%20Analysis) This chapter reviews Wintop Group's business performance and financial position for the six months ended June 30, 2025, analyzing changes in revenue, costs, expenses, and net loss, along with the use of placing proceeds, liquidity, capital structure, risk management, and employee remuneration policies [Business Review and Prospects](index=24&type=section&id=BUSINESS%20REVIEW%20AND%20PROSPECTS) The Group primarily engages in exhibition and trade fair services, publication and advertising, online sales of beauty and cosmetic products, and luxury goods sales, while closely monitoring economic uncertainties to pursue stable development and shareholder returns - Principal businesses include: (i) exhibition and trade fair business and related services; (ii) publication and advertising business (including print and online media advertising, sales of publications, advertising and related production services, and outdoor advertising); (iii) online sales of beauty and cosmetic products; and (iv) sales of luxury goods[69](index=69&type=chunk)[73](index=73&type=chunk) - The Group will closely monitor uncertainties in the economic environment, formulate strategies to pursue stable development, and strive to deliver substantial returns to shareholders[70](index=70&type=chunk)[73](index=73&type=chunk) [Financial Review](index=24&type=section&id=FINANCIAL%20REVIEW) This section analyzes the Group's financial performance for the six months ended June 30, 2025, including changes in revenue, cost of sales, gross profit, operating expenses, finance costs, and profit/loss attributable to owners of the Company, along with their key drivers [Revenue](index=24&type=section&id=Revenue) Total revenue increased by **54.12%** year-on-year, primarily driven by increased sales of luxury goods and publication and advertising income - Total revenue increased by approximately **HK$4,152,000** from approximately **HK$7,672,000** in the corresponding period of 2024 to approximately **HK$11,824,000** in the corresponding period of 2025[71](index=71&type=chunk)[74](index=74&type=chunk) - Primarily due to increased sales of luxury goods and publication and advertising income[71](index=71&type=chunk)[74](index=74&type=chunk) [Cost of Sales](index=24&type=section&id=Cost%20of%20Sales) Cost of sales significantly increased by **144.51%** year-on-year, consistent with the rise in revenue from luxury goods sales - Cost of sales increased from approximately **HK$2,148,000** in the corresponding period of 2024 to approximately **HK$5,252,000** in the corresponding period of 2025[72](index=72&type=chunk)[75](index=75&type=chunk) - This increase is consistent with the increase in revenue from luxury goods sales[72](index=72&type=chunk)[75](index=75&type=chunk) [Gross Profit](index=25&type=section&id=Gross%20Profit) Gross profit shifted from a gross loss in the corresponding period of 2024 to a gross profit in 2025, mainly driven by increased publication and advertising income - Gross profit increased from a gross loss of approximately **HK$2,148,000** in the corresponding period of 2024 to a gross profit of approximately **HK$5,242,000** in the corresponding period of 2025[76](index=76&type=chunk)[80](index=80&type=chunk) - The increase in gross profit was primarily due to increased publication revenue and advertising income[76](index=76&type=chunk)[80](index=80&type=chunk) [Operating Expenses](index=25&type=section&id=Operating%20Expenses) Operating expenses increased by approximately **18%** year-on-year, primarily due to higher staff costs - Operating expenses increased by approximately **18%** from approximately **HK$5,422,000** in the corresponding period of 2024 to approximately **HK$6,373,000** in the corresponding period of 2025[77](index=77&type=chunk)[81](index=81&type=chunk) - Primarily due to increased staff costs[77](index=77&type=chunk)[81](index=81&type=chunk) [Finance Costs](index=25&type=section&id=Finance%20Costs) For the six months ended June 30, 2025, the Group's finance costs were approximately **HK$638,000**, mainly comprising interest on other borrowings - Finance costs for the six months ended June 30, 2025, were approximately **HK$638,000**[78](index=78&type=chunk)[82](index=82&type=chunk) - Mainly comprising interest payable on other borrowings[78](index=78&type=chunk)[82](index=82&type=chunk) [Profit/(Loss) Attributable to Owners of the Company](index=25&type=section&id=Profit%2F(Loss)%20Attributable%20to%20Owners%20of%20the%20Company) For the six months ended June 30, 2025, the loss attributable to owners of the Company expanded to approximately **HK$316,000** - For the six months ended June 30, 2025, the Group recorded a loss attributable to owners of the Company of approximately **HK$316,000**[79](index=79&type=chunk)[83](index=83&type=chunk) - This represents an expanded loss compared to approximately **HK$112,000** in the corresponding period of 2024[79](index=79&type=chunk)[83](index=83&type=chunk) [Use of Proceeds from Placing](index=26&type=section&id=Use%20of%20Proceed%20from%20Placing) This section details the actual use of net proceeds of approximately **HK$3.94 million** from the second placing in 2024, primarily for current business operations, development, and general working capital, all of which have been fully utilized - The second placing in 2024 was completed on December 3, 2024, involving the placement of **124,416,000** new shares at a placing price of **HK$0.035** to not less than six placees[84](index=84&type=chunk)[87](index=87&type=chunk) - The net proceeds of approximately **HK$3.94 million** were used for current business operations, development, and general working capital expenditures[85](index=85&type=chunk)[87](index=87&type=chunk) - As of June 30, 2025, the net proceeds have been fully utilized, with no significant changes to the intended use[86](index=86&type=chunk)[88](index=88&type=chunk)[90](index=90&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=27&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) This section analyzes the Group's liquidity, showing a decrease in the current ratio and bank balances and cash, but maintaining a stable capital structure with no bank loans - As at June 30, 2025, the Group's current ratio was approximately **0.4 times** (December 31, 2024: approximately **0.6 times**)[91](index=91&type=chunk)[96](index=96&type=chunk) - For the six months ended June 30, 2025, there was no change in the Group's capital structure, with share capital comprising only ordinary shares[91](index=91&type=chunk)[96](index=96&type=chunk) - As at June 30, 2025, the Group's bank balances and cash were approximately **HK$5,027,000** (December 31, 2024: approximately **HK$9,590,000**)[92](index=92&type=chunk)[96](index=96&type=chunk) - As at June 30, 2025, the Group had no bank loans (December 31, 2024: nil)[92](index=92&type=chunk)[97](index=97&type=chunk) [Gearing Ratio](index=27&type=section&id=Gearing%20Ratio) As of June 30, 2025, the Group's gearing ratio was **19%**, a decrease from **31%** as of December 31, 2024 - As at June 30, 2025, the Group's gearing ratio (calculated as total borrowings divided by shareholders' funds) was approximately **19%** (December 31, 2024: approximately **31%**)[93](index=93&type=chunk)[98](index=98&type=chunk) [Significant Investments Held](index=27&type=section&id=Significant%20Investments%20Held) For the six months ended June 30, 2025, the Group held no significant investments - For the six months ended June 30, 2025, the Group held no significant investments[94](index=94&type=chunk)[99](index=99&type=chunk) [Material Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures](index=28&type=section&id=Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries,%20Associates%20and%20Joint%20Ventures) For the six months ended June 30, 2025, the Group did not undertake any material acquisitions or disposals of subsidiaries, associates, or joint ventures - The Group had no material acquisitions or disposals of subsidiaries, associates, or joint ventures for the six months ended June 30, 2025[100](index=100&type=chunk)[105](index=105&type=chunk) [Pledge of Assets](index=28&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group had no significant pledge of assets - As at June 30, 2025, the Group had no significant pledge of assets[101](index=101&type=chunk)[105](index=105&type=chunk) [Contingent Liabilities](index=28&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As at June 30, 2025, the Group had no significant contingent liabilities[102](index=102&type=chunk)[105](index=105&type=chunk) [Capital Commitments](index=28&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had no significant capital commitments - As at June 30, 2025, the Group had no significant capital commitments[103](index=103&type=chunk)[105](index=105&type=chunk) [Future Plans for Material Investments and Capital Assets](index=28&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) The Group currently has no other plans for material investments and capital assets beyond those disclosed in this interim report - Other than those disclosed in this interim report, the Group has no other plans for material investments and capital assets[104](index=104&type=chunk)[106](index=106&type=chunk) [Employees and Remuneration Policies](index=29&type=section&id=Employees%20and%20Remuneration%20Policies) This section details the Group's employee headcount and staff costs, outlining its competitive remuneration, annual performance reviews, bonuses, training, and share option scheme aimed at attracting and retaining talent - As at June 30, 2025, the Group had approximately **11** employees (excluding directors) (December 31, 2024: approximately **12** employees)[108](index=108&type=chunk)[110](index=110&type=chunk) - For the period ended June 30, 2025, staff costs (including directors' emoluments, allowances, and bonuses) totaled approximately **HK$1,363,000** (June 30, 2024: approximately **HK$1,124,000**)[108](index=108&type=chunk)[110](index=110&type=chunk) - The Group offers competitive remuneration packages, conducts annual employee performance reviews, and provides training or seminars related to the publishing business, as well as share options[109](index=109&type=chunk)[110](index=110&type=chunk) [Other Information](index=30&type=section&id=Other%20Information) This chapter covers Wintop Group's other important information, including interim dividend policy, risk management strategies, disclosure of directors' and substantial shareholders' interests, share option scheme status, listed securities transactions, changes in directors' information, code of conduct for directors' securities transactions, competing business interests, corporate governance practices, post-reporting period events, and the audit committee's review of financial statements [Interim Dividend](index=30&type=section&id=INTERIM%20DIVIDEND) The Board recommends not paying an interim dividend for the six months ended June 30, 2025, to conserve cash for working capital and future development - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (2024: nil)[111](index=111&type=chunk)[115](index=115&type=chunk) - This aims to retain more cash to fund the Group's working capital requirements and future development[111](index=111&type=chunk)[115](index=115&type=chunk) [Risk Management](index=30&type=section&id=RISK%20MANAGEMENT) This section outlines the Group's strategies for managing currency, interest rate, credit, and liquidity risks, aiming to identify, assess, and mitigate potential financial exposures [Currency Risk](index=30&type=section&id=Currency%20Risk) The Group's monetary assets and liabilities are primarily denominated in HKD and MOP, and it does not anticipate significant currency risk - The vast majority of the Group's monetary assets and liabilities are denominated in Hong Kong Dollars and Macau Patacas, which are the functional currencies of the respective group entities[112](index=112&type=chunk)[116](index=116&type=chunk) - The Group does not anticipate any significant currency risk that could materially impact its operating results[112](index=112&type=chunk)[116](index=116&type=chunk) [Interest Rate Risk](index=30&type=section&id=Interest%20Rate%20Risk) The Group faces fair value interest rate risk related to fixed-rate other borrowings but does not expect a significant impact on operating results - During the period, the Group was exposed to fair value interest rate risk related to fixed-rate other borrowings[113](index=113&type=chunk)[117](index=117&type=chunk) - The Group does not anticipate any significant interest rate risk that would severely impact its operating results[113](index=113&type=chunk)[117](index=117&type=chunk) [Credit Risk](index=30&type=section&id=Credit%20Risk) The Group manages credit risk by transacting with reputable counterparties, continuously monitoring credit exposure, and regularly assessing customer financial standing, with limited credit risk from bank balances - The Group has adopted a policy of transacting only with creditworthy counterparties and obtaining sufficient collateral where appropriate, as a means of mitigating the risk of financial loss from defaults[114](index=114&type=chunk)[118](index=118&type=chunk) - Management has established credit policies and continuously monitors these credit risks, regularly conducting credit assessments of the financial position and circumstances of key customers[119](index=119&type=chunk)[122](index=122&type=chunk) - Credit risk from bank balances is limited as counterparties are banks with high credit ratings from international credit rating agencies[120](index=120&type=chunk)[123](index=123&type=chunk) [Liquidity Risk](index=31&type=section&id=Liquidity%20Risk) The Group regularly monitors liquidity requirements and compliance with loan covenants, ensuring sufficient cash and committed facilities to meet short-term and long-term liquidity needs - The Group's policy is to regularly monitor current and anticipated liquidity requirements and compliance with loan covenants[121](index=121&type=chunk)[124](index=124&type=chunk) - Ensuring it maintains sufficient cash and adequate committed facilities from major financial institutions to meet its short-term and longer-term liquidity needs[121](index=121&type=chunk)[124](index=124&type=chunk) [Directors' and Chief Executives' Interests and/or Short Positions in Shares, Underlying Shares and Debentures of the Company or Any Associated Corporations](index=32&type=section&id=DIRECTORS%20AND%20CHIEF%20EXECUTIVES'%20INTERESTS%20AND%2FOR%20SHORT%20POSITIONS%20IN%20SHARES,%20UNDERLYING%20SHARES%20AND%20DEBENTURES%20OF%20THE%20COMPANY%20OR%20ANY%20ASSOCIATED%20CORPORATIONS) This section discloses directors' and chief executives' interests in the company's shares as of June 30, 2025, with Mr. Lu Man Wah holding **0.04%** equity Directors' Interests in the Company's Shares | Name of Director | Capacity | Interests in Shares (L) | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Mr. Lu Man Wah | Interest in controlled corporation | 343,300 | 0.04% | [Substantial Shareholders' and Other Persons' Interests and/or Short Positions in Shares and Underlying Shares of the Company](index=34&type=section&id=SUBSTANTIAL%20SHAREHOLDERS'%20AND%20OTHER%20PERSONS'%20INTERESTS%20AND%2FOR%20SHORT%20POSITIONS%20IN%20SHARES%20AND%20UNDERLYING%20SHARES%20OF%20THE%20COMPANY) This section discloses substantial shareholders' and other persons' interests in the company's shares as of June 30, 2025, with Muhammad Shaifadila Binti holding **4.52%** equity Substantial Shareholders' Interests in the Company's Shares | Name of Shareholder | Capacity | Number of Shares or Underlying Shares (L) | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Muhammad Shaifadila Binti | Beneficial owner | 39,376,000 | 4.52% | [Share Option Scheme](index=35&type=section&id=SHARE%20OPTION%20SCHEME) The Group's share option scheme, adopted on February 16, 2015, expired on February 16, 2025 - The Group adopted a share option scheme on February 16, 2015[135](index=135&type=chunk)[139](index=139&type=chunk) - The share option scheme expired on February 16, 2025[135](index=135&type=chunk)[139](index=139&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=35&type=section&id=PURCHASE,%20SALE%20OR%20REDEMPTION%20OF%20LISTED%20SECURITIES) For the six months ended June 30, 2025, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[136](index=136&type=chunk)[140](index=140&type=chunk) [Changes of Directors' Information Under Rule 17.50A(1) of the GEM Listing Rules](index=35&type=section&id=CHANGES%20OF%20DIRECTORS'%20INFORMATION%20UNDER%20RULE%2017.50A(1)%20OF%20THE%20GEM%20LISTING%20RULES) As of June 30, 2025, the company was unaware of any changes in directors' information requiring disclosure under Rule 17.50A(1) of the GEM Listing Rules - As at June 30, 2025, to the best of the Company's knowledge, there were no changes in directors' information requiring disclosure under Rule 17.50A(1) of the GEM Listing Rules[137](index=137&type=chunk)[141](index=141&type=chunk) [Code of Conduct for Directors' Securities Transactions](index=36&type=section&id=CODE%20OF%20CONDUCT%20FOR%20DIRECTORS'%20SECURITIES%20TRANSACTIONS) The company has adopted a code of conduct for directors' securities transactions, and all directors confirmed compliance during the reporting period - The Company has adopted a code of conduct for directors' securities transactions, with terms no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules[143](index=143&type=chunk)[145](index=145&type=chunk) - Following specific enquiries, all directors confirmed compliance with the required standard of dealings and their code of conduct for securities transactions for the six months ended June 30, 2025[143](index=143&type=chunk)[145](index=145&type=chunk) [Directors' and Controlling Shareholders' Interests in Competing Business](index=36&type=section&id=DIRECTORS%20AND%20CONTROLLING%20SHAREHOLDERS'%20INTERESTS%20IN%20COMPETING%20BUSINESS) For the six months ended June 30, 2025, the directors were unaware of any directors, controlling shareholders, or their associates having interests in businesses competing with the Group - For the six months ended June 30, 2025, the directors were unaware of any directors, controlling shareholders of the Company, and their respective associates (as defined in the GEM Listing Rules) having any business or interest that competes or may compete with the Group's business, nor were they aware of any other conflicts of interest between such persons and the Group[144](index=144&type=chunk)[146](index=146&type=chunk) [Corporate Governance](index=37&type=section&id=CORPORATE%20GOVERNANCE) The company is committed to maintaining high corporate governance standards and complies with the Corporate Governance Code, with decisions made by the executive director under Board oversight to ensure efficient operations, despite the unseparated roles of chairman and chief executive - The Company is committed to adhering to high standards of corporate governance practices and has complied with the Corporate Governance Code throughout the reporting period, except for Code Provision A.2.1[147](index=147&type=chunk)[150](index=150&type=chunk) - The Company currently has no chief executive officer; decisions are made by the executive director and overseen by other Board members, an arrangement that enables immediate decision-making and implementation[148](index=148&type=chunk)[150](index=150&type=chunk) - The Company will continue to review its corporate governance practices to enhance its corporate governance standards, comply with regulatory requirements, and meet the increasing expectations of shareholders and investors[149](index=149&type=chunk)[151](index=151&type=chunk) [Event After the Reporting Period](index=38&type=section&id=EVENT%20AFTER%20THE%20REPORTING%20PERIOD) As of the report date, the directors were unaware of any significant events after the reporting period that would materially impact the Group's business or financial performance - Subsequent to the reporting period and up to the date of this report, the directors were unaware of any significant events related to the Group's business or financial performance[153](index=153&type=chunk)[156](index=156&type=chunk) [Audit Committee and Review of Financial Statements](index=38&type=section&id=AUDIT%20COMMITTEE%20AND%20REVIEW%20OF%20FINANCIAL%20STATEMENTS) The Audit Committee, established under GEM Listing Rules and composed of independent non-executive directors, has reviewed this interim report and the unaudited condensed consolidated financial results, submitting them to the Board for approval - The Audit Committee was established in accordance with the GEM Listing Rules, comprising Ms. Wong Tsz Ling (Chairperson), Mr. Li Kwok Lun, and Mr. Lo Tak Wai (all independent non-executive directors)[154](index=154&type=chunk)[157](index=157&type=chunk) - The Audit Committee has reviewed this interim report with management, including the Group's unaudited condensed consolidated financial results for the six months ended June 30, 2025, and submitted them to the Board for approval[155](index=155&type=chunk)[157](index=157&type=chunk) - The Group's condensed consolidated financial results for the six months ended June 30, 2025, have not been audited by the Company's auditor[157](index=157&type=chunk)

继熊远健辞任执行董事后，亦不再担任根据当时GEM上市规则第5.19条(已于2024年1月1日删除)的公司 监察主任。继GEM上市规则修订本于2024年1月1日生效后，公司毋须再根据GEM上市规则委任监察主 任。因此，董事会已决议继熊远健于2025年8月27日辞任后取消监察主任职位。 格隆汇8月28日丨惠陶集团(08238.HK)发布公告，熊远健因有意减轻工作量以投入更多时间于其他个人 事务，已辞任执行董事、董事会主席以及根据GEM上市规则第5.24条的公司授权代表，自2025年8月27 日起生效。刘丽已获委任为执行董事、董事会主席及授权代表，自2025年8月27日起生效。 ...

香港聯合交易所有限公司 （香港交易及結算所有限公司的全資附屬公司） FF003G 本報表的資料乃於 2025年8月27日更新。 G 表格 A. ㇐般資料 GEM 公司資料報表 監管表格 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資料報表的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不對因本資料報表全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔 任何責任。 公司名稱： 惠陶集團(控股)有限公司 上市申請表格 證券代號（普通股）： 8238 本資料報表列載若干有關上述在香港聯合交易所有限公司（「交易所」）GEM 上市的公司（「該公司」） 的資料。 該等資料乃遵照香港聯合交易所有限公司《GEM 證券上市規則》（「《GEM 上市規則》」） 的規定而提供，旨在向 公眾提供有關該公司的資料。該等資料將會在互聯網的 GEM 網頁展示。本資料報表不應視作有關該公司及╱或 其證券的完整資料概要。 | 註冊成立地點 | ： | 開曼群島 | | --- | --- | --- | | 在 GEM 首次上市日期 | ： | 2015 年 2 月 16 日 | | 保薦人名稱 | ： | ...