第 1 頁 共 10 頁 v 1.1.1 本月底法定/註冊股本總額： RMB 30,886,000 | 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 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 198,860,000 | RMB | | 0.1 | RMB | | 19,886,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 198,860,000 | RMB | | 0.1 | RMB | | 19,886,000 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | ...

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。 山 西 長 城 微 光 器 材 股 份 有 限 公 司 SHANXI CHANGCHENG MICROLIGHT EQUIPMENT CO. LTD.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8286） 澄清公告 及 自願性公告 有關清盤呈請之補充公佈 茲提述山西长城微光器材股份有限公司（「本公司」）日期為二零二五年八月二十八日之 公告，內容有關施韦箂有限公司針對本公司提起的清盤呈請（「該公告」）。除另有所指 外，本公告所用詞彙與該公告所界定者具有相同涵義。 董事（「董事」）會（「董事會」）宣佈，於二零二五年八月六日，施韦箂有限公 司（「呈請人」）就指稱結欠其若干債務根據二零二五年第485號公司（「清盤」） 程序向香港特別行政區高等法院（「高等法院」）提交針對本公司有關香港法例第 32章《公司 （清盤及雜項條文）條例》之清盤呈請（「該呈請」）。該呈請已排期 於二零二五年十月三十一日上午九 ...

| 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 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 198,860,000 RMB | | 0.1 | RMB | | 19,886,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 198,860,000 RMB | | 0.1 | RMB | | 19,886,000 | | 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) | 08286 | 說明 | | | ...

Core Viewpoint - Great Wall Microelectronics (08286) reported a loss attributable to shareholders of 4.111 million yuan for the six months ending June 30, 2025, representing a year-on-year increase of 5.2% [1] Financial Performance - The company achieved revenue of 8.662 million yuan, a decrease of 4.2% compared to the previous year [1] - The loss attributable to shareholders increased by 5.2% year-on-year, indicating a decline in profitability [1]

Group 1 - The company, Great Wall Microelectronics (08286), reported a revenue of 8.662 million, representing a year-on-year decrease of 4.2% [1] - The loss attributable to the company's owners was 4.111 million, which is an increase of 5.2% compared to the previous year [1]

[Company Information and Disclaimer](index=1&type=section&id=Company%20Information%20and%20Disclaimer) This section provides an overview of the company, its listing on GEM, and the associated market characteristics and disclaimers [Company Overview](index=1&type=section&id=Company%20Overview) This report is the interim results announcement of Shanxi Changcheng Microlight Equipment Co., Ltd. (Stock Code: 8286) for the six months ended June 30, 2025. The company is incorporated in the People's Republic of China, and its H shares are listed on GEM of the Hong Kong Stock Exchange - Company Name: Shanxi Changcheng Microlight Equipment Co., Ltd[1](index=1&type=chunk) - Stock Code: **8286**, H shares listed on GEM of the Hong Kong Stock Exchange[1](index=1&type=chunk)[10](index=10&type=chunk) - Reporting Period: Six months ended June 30, 2025[1](index=1&type=chunk) [GEM Market Characteristics and Disclaimer](index=1&type=section&id=GEM%20Market%20Characteristics%20and%20Disclaimer) The GEM market of the Stock Exchange provides a listing platform for small and medium-sized companies, entailing higher investment risks, and investors are advised to exercise caution. Hong Kong Exchanges and Clearing Limited and the Stock Exchange assume no responsibility for the contents of this announcement - The GEM market provides a listing platform for small and medium-sized companies, involving higher investment risks, and investors are advised to exercise caution[2](index=2&type=chunk) - Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the accuracy or completeness of this announcement[2](index=2&type=chunk) [Financial Performance](index=2&type=section&id=Financial%20Performance) This section presents the condensed consolidated financial statements, including statements of profit or loss, financial position, changes in equity, and cash flows, for the reporting period [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's revenue decreased by **4.24%** to **RMB 8,662 thousand**, gross profit decreased by **16.00%** to **RMB 3,007 thousand**, and loss and total comprehensive loss for the period expanded to **RMB 4,111 thousand** Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (RMB thousands) | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 8,662 | 9,046 | -4.24% | | Cost of Sales | (5,655) | (5,468) | 3.42% | | Gross Profit | 3,007 | 3,578 | -16.00% | | Other Income, Gains and Losses | 1,217 | 1,227 | -0.81% | | Selling and Distribution Expenses | (102) | (150) | -32.00% | | Administrative and Other Operating Expenses | (7,197) | (7,330) | -1.81% | | Finance Costs | (1,036) | (1,233) | -15.98% | | Loss Before Tax | (4,111) | (3,908) | 5.20% | | Income Tax Expense | – | – | - | | Loss and Total Comprehensive Loss for the Period | (4,111) | (3,908) | 5.20% | | Basic and Diluted Loss Per Share (RMB) | (0.013) | (0.013) | 0.00% | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's net current liabilities were **RMB (196,532) thousand**, net liabilities were **RMB (146,032) thousand**, and total equity was **RMB (146,032) thousand**, indicating a persistent negative equity position Condensed Consolidated Statement of Financial Position (RMB thousands) | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | **Non-Current Assets** | | | | | Property, Plant and Equipment | 127,689 | 129,884 | -2,195 | | Right-of-Use Assets | 8,628 | 8,779 | -151 | | **Current Assets** | | | | | Inventories | 7,865 | 9,279 | -1,414 | | Trade Receivables | 14,757 | 5,881 | 8,876 | | Prepayments, Deposits and Other Receivables | 9,555 | 8,759 | 796 | | Cash and Cash Equivalents | 292 | 292 | 0 | | **Current Liabilities** | | | | | Trade Payables | 8,399 | 8,832 | -433 | | Accruals and Other Payables | 179,821 | 179,503 | 318 | | Contract Liabilities | 15,863 | 5,642 | 10,221 | | Amounts Due to Shareholders | 10,353 | 10,309 | 44 | | Bank and Other Borrowings | 12,365 | 11,944 | 421 | | Deferred Government Grants | 2,200 | 2,200 | 0 | | **Net Current Liabilities** | (196,532) | (194,219) | -2,313 | | **Net Liabilities** | (146,032) | (141,921) | -4,111 | | **Total Equity** | (146,032) | (141,921) | -4,111 | [Condensed Consolidated Statement of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, total equity attributable to owners of the Company decreased by **RMB 4,111 thousand** to **RMB (145,835) thousand** due to the total comprehensive loss for the period Condensed Consolidated Statement of Changes in Equity (RMB thousands) | Indicator | January 1, 2025 (RMB thousands) | Total Comprehensive Loss for the Period (RMB thousands) | June 30, 2025 (RMB thousands) | | :--- | :--- | :--- | :--- | | Total Equity Attributable to Owners of the Company | (141,724) | (4,111) | (145,835) | | Non-Controlling Interests | (197) | – | (197) | | Total Equity | (141,921) | (4,111) | (146,032) | [Condensed Consolidated Statement of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, the Group's net cash used in operating activities was **RMB (6) thousand**, net cash generated from investing activities was **RMB 1 thousand**, net cash generated from financing activities was **RMB 5 thousand**, and cash and cash equivalents at period-end remained at **RMB 292 thousand** Condensed Consolidated Statement of Cash Flows (RMB thousands) | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (6) | 240 | | Net Cash Used in Investing Activities | 1 | (47) | | Net Cash Generated from Financing Activities | 5 | (161) | | Increase in Cash and Cash Equivalents | – | 32 | | Cash and Cash Equivalents at January 1 | 292 | 277 | | Cash and Cash Equivalents at June 30 | 292 | 309 | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section details the basis of preparation, significant accounting policies, and specific notes to the condensed consolidated financial statements, including revenue, expenses, and financial position items [General Information](index=8&type=section&id=General%20Information) Shanxi Changcheng Microlight Equipment Co., Ltd. was incorporated in China on November 10, 2000, with its H shares listed on GEM of the Hong Kong Stock Exchange - The Company was incorporated in China as a joint stock company on **November 10, 2000**[10](index=10&type=chunk) - H shares are listed on GEM of The Stock Exchange of Hong Kong Limited[10](index=10&type=chunk) [Going Concern Basis](index=8&type=section&id=Going%20Concern%20Basis) The Group faces significant going concern uncertainties due to substantial net current liabilities, net liabilities, and outstanding borrowings. The Board has implemented various measures to improve liquidity, including debt restructuring, interest waivers, repayment deferrals, and seeking shareholder funding, while actively expanding its customer base, thus the financial statements are prepared on a going concern basis - As of June 30, 2025, the Group had net current liabilities of approximately **RMB 196,532 thousand**, net liabilities of approximately **RMB 146,032 thousand**, and outstanding bank and other borrowings of approximately **RMB 71,424 thousand**, indicating significant going concern uncertainties[11](index=11&type=chunk) - The Company has taken measures to improve liquidity, including negotiating debt restructuring, interest waivers, and repayment deferrals with shareholders, lenders, and banks, seeking further financial assistance, and actively seeking new customers for fiber optic products[11](index=11&type=chunk) - The Board believes that with the implementation of these measures, the Group will be able to meet its financial obligations, and therefore the interim financial statements are prepared on a going concern basis[11](index=11&type=chunk) [Basis of Preparation](index=9&type=section&id=Basis%20of%20Preparation) These condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting' and the GEM Listing Rules, with principal accounting policies consistent with those in the 2024 annual report, and are presented in RMB - The condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting' issued by the Hong Kong Institute of Certified Public Accountants and the GEM Listing Rules[12](index=12&type=chunk) - The principal accounting policies used in the preparation are consistent with those adopted in the annual report for the year ended December 31, 2024[12](index=12&type=chunk) - The financial statements are presented in RMB, and all amounts are rounded to the nearest thousand[12](index=12&type=chunk) [Adoption of New and Revised Hong Kong Financial Reporting Standards](index=9&type=section&id=Adoption%20of%20New%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The new and revised Hong Kong Financial Reporting Standards adopted during the period have not caused significant changes to the Group's accounting policies or financial statement amounts, and new standards not yet effective are also not expected to have a material impact - The adoption of new and revised Hong Kong Financial Reporting Standards during the period did not result in significant changes to accounting policies or financial statement amounts[13](index=13&type=chunk) - New Hong Kong Financial Reporting Standards that have been issued but are not yet effective are not expected to have a significant impact on the financial statements[13](index=13&type=chunk) [Revenue](index=10&type=section&id=Revenue) The Group's revenue primarily derives from the manufacturing and sale of fiber optic products, with total revenue for the six months ended June 30, 2025, at **RMB 8,662 thousand**, a **4.24%** year-on-year decrease. The Chinese market contributes the vast majority of revenue, with microchannel plates and fiber optic inverters being the main products - Revenue refers to the net invoiced value of goods sold, after deducting provisions for returns, trade discounts, and other sales-related taxes[14](index=14&type=chunk) Revenue Sources (RMB thousands) | Revenue Source | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Manufacturing and Sale of Fiber Optic Products | 8,662 | 9,046 | -4.24% | | Revenue from Customer Contracts | 8,662 | 9,046 | -4.24% | [Disaggregation of Revenue](index=10&type=section&id=Disaggregation%20of%20Revenue) In the first half of 2025, the Chinese market contributed **85.78%** of revenue, while revenue from Europe and Russia significantly decreased by **54.99%**. Microchannel plates and fiber optic inverters remained the primary revenue sources, with fiber optic tapers showing a notable **40.21%** increase in revenue Geographical Markets (RMB thousands) | Geographical Market | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | China | 7,430 | 7,346 | 1.14% | | Hong Kong and Other Asian Countries | 612 | 327 | 87.16% | | Europe and Russia | 620 | 1,373 | -54.99% | | **Total** | **8,662** | **9,046** | **-4.24%** | Major Products (RMB thousands) | Major Product | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Fiber Optic Inverters | 3,479 | 4,234 | -17.84% | | Fiber Optic Straight Plates | – | 150 | -100.00% | | Fiber Optic Faceplates | 69 | 460 | -85.00% | | Fiber Optic Tapers | 1,231 | 878 | 40.21% | | Microchannel Plates | 3,723 | 3,313 | 12.38% | | Others | 160 | 11 | 1354.55% | | **Total** | **8,662** | **9,046** | **-4.24%** | - All revenue is recognized at a point in time[18](index=18&type=chunk)[19](index=19&type=chunk) [Operating Segment Information](index=13&type=section&id=Operating%20Segment%20Information) The Group's primary business is the sale of fiber optic products, considered a single reportable segment. In the first half of 2025, microchannel plates and fiber optic inverters were the main products, the Chinese market was the primary revenue source, and Customer A contributed over half of the revenue - The Group's revenue and profit/loss contributions primarily derive from the sale of fiber optic inverters, fiber optic straight plates, fiber optic faceplates, fiber optic tapers, and microchannel plates, and are considered a single reportable segment[20](index=20&type=chunk) - All of the Group's non-current assets are located in Shanxi, China[22](index=22&type=chunk) [Product Information](index=13&type=section&id=Product%20Information) In the first half of 2025, microchannel plates and fiber optic inverters accounted for **43%** and **40%** of total revenue, respectively, while sales of fiber optic straight plates and fiber optic faceplates significantly decreased Product Revenue (RMB thousands, %) | Product | 2025 (RMB thousands) | 2025 (%) | 2024 (RMB thousands) | 2024 (%) | | :--- | :--- | :--- | :--- | :--- | | Fiber Optic Inverters | 3,479 | 40 | 4,234 | 46 | | Fiber Optic Straight Plates | – | – | 150 | 2 | | Fiber Optic Faceplates | 69 | 1 | 460 | 5 | | Fiber Optic Tapers | 1,231 | 14 | 878 | 10 | | Microchannel Plates | 3,723 | 43 | 3,313 | 37 | | Others | 160 | 2 | 11 | – | | **Total** | **8,662** | **100** | **9,046** | **100** | [Geographical Information](index=14&type=section&id=Geographical%20Information) In the first half of 2025, the Chinese market contributed **RMB 7,430 thousand** in revenue, accounting for **85.78%** of total revenue, with significant growth in Hong Kong and other Asian countries, while revenue from Europe and Russia substantially declined Geographical Revenue (RMB thousands) | Region | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | China | 7,430 | 7,346 | | Hong Kong and Other Asian Countries | 612 | 327 | | Europe and Russia | 620 | 1,373 | | **Total** | **8,662** | **9,046** | [Major Customer Information](index=14&type=section&id=Major%20Customer%20Information) In the first half of 2025, Customer A contributed **RMB 5,868 thousand** in revenue, accounting for **67.74%** of total revenue, while Customer B's contribution significantly decreased Major Customer Revenue (RMB thousands) | Customer | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Customer A | 5,868 | 5,343 | | Customer B | 996 | 1,652 | [Other Income, Gains and Losses](index=15&type=section&id=Other%20Income%2C%20Gains%20and%20Losses) For the six months ended June 30, 2025, other income, gains, and losses primarily stemmed from government grants, totaling approximately **RMB 1,217 thousand**, a slight year-on-year decrease - Other income, gains, and losses primarily comprised income from government grants of approximately **RMB 1,100 thousand**[25](index=25&type=chunk) - Total other income, gains, and losses for the first half of 2025 amounted to **RMB 1,217 thousand**, a decrease of **RMB 10 thousand** compared to **RMB 1,227 thousand** in the same period of 2024[4](index=4&type=chunk)[25](index=25&type=chunk)[44](index=44&type=chunk) [Finance Costs](index=15&type=section&id=Finance%20Costs) For the six months ended June 30, 2025, the Group's finance costs were **RMB 1,036 thousand**, a **15.98%** year-on-year decrease, primarily due to zero bank borrowing interest and a significant reduction in other borrowing interest Finance Costs (RMB thousands) | Finance Cost Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Bank Borrowing Interest | – | 218 | | Other Borrowing Interest | 673 | 2,120 | | Interest on Amounts Due to Shareholders | 363 | 372 | | **Total** | **1,036** | **2,710** | | Less: Interest Waived | – | (1,477) | | **Net Finance Costs** | **1,036** | **1,233** | - Finance costs decreased by **RMB 197 thousand** year-on-year, mainly attributable to zero bank borrowing interest and a substantial reduction in other borrowing interest[26](index=26&type=chunk)[44](index=44&type=chunk) [Income Tax Expense](index=15&type=section&id=Income%20Tax%20Expense) For the six months ended June 30, 2025, the Group incurred no income tax expense, as there was no assessable profit in Hong Kong, and other regions were taxed at local rates - For the six months ended June 30, 2025, the Group had no current China corporate income tax or deferred tax, resulting in zero total tax deductions[27](index=27&type=chunk) - No provision for Hong Kong profits tax has been made as the Group had no estimated assessable profits in Hong Kong[27](index=27&type=chunk) [Loss Per Share](index=16&type=section&id=Loss%20Per%20Share) For the six months ended June 30, 2025, basic and diluted loss per share attributable to owners of the Company was **RMB 0.013**, consistent with the prior year, with no potential dilutive ordinary shares Loss Per Share | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Loss Attributable to Owners of the Company (RMB thousands) | 4,111 | 3,908 | | Shares in Issue (shares) | 308,860,000 | 308,860,000 | | Basic Loss Per Share (RMB) | (0.013) | (0.013) | - There were no potential dilutive ordinary shares in issue for the six months ended June 30, 2025 and 2024, thus diluted loss per share was the same as basic loss per share[29](index=29&type=chunk) [Interim Dividend](index=16&type=section&id=Interim%20Dividend) The directors of the Company do not recommend the payment of any dividend for the six months ended June 30, 2025, consistent with the prior year - The directors of the Company do not recommend the payment of any dividend for the six months ended June 30, 2025[30](index=30&type=chunk) [Property, Plant and Equipment](index=16&type=section&id=Property%2C%20Plant%20and%20Equipment) For the six months ended June 30, 2025, the Group made no new purchases of property, plant, and equipment - For the six months ended June 30, 2025, the Group purchased property, plant and equipment of approximately **RMB zero**[31](index=31&type=chunk) [Trade Receivables](index=16&type=section&id=Trade%20Receivables) As of June 30, 2025, the Group's net trade receivables amounted to **RMB 14,757 thousand**, a significant increase of **150.92%** from the end of 2024, primarily due to a notable rise in receivables over **365 days** old Trade Receivables (RMB thousands) | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Trade Receivables | 36,122 | 27,247 | | Less: Impairment of Trade Receivables | (21,365) | (21,366) | | **Net Amount** | **14,757** | **5,881** | Aging Analysis of Trade Receivables (RMB thousands) | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 90 Days | 3,374 | 5,561 | | 91 to 180 Days | 3,903 | 320 | | 181 to 365 Days | 224 | – | | Over 365 Days | 7,256 | – | | **Total** | **14,757** | **5,881** | [Trade Payables](index=17&type=section&id=Trade%20Payables) As of June 30, 2025, the Group's trade payables were **RMB 8,399 thousand**, a slight decrease from the end of 2024, with amounts over **365 days** still constituting the vast majority Aging Analysis of Trade Payables (RMB thousands) | Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | 0 to 90 Days | 377 | 245 | | 91 to 180 Days | 158 | 360 | | 181 to 365 Days | 62 | 403 | | Over 365 Days | 7,802 | 7,824 | | **Total** | **8,399** | **8,832** | [Share Capital](index=18&type=section&id=Share%20Capital) As of June 30, 2025, the Company's total issued and fully paid share capital was **RMB 30,886 thousand**, comprising **198,860,000** domestic shares and **110,000,000** H shares, each with a par value of **RMB 0.10** Share Capital (shares, RMB thousands) | Share Type | June 30, 2025 (Number of Shares) | June 30, 2025 (RMB thousands) | December 31, 2024 (Number of Shares) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | | Domestic Shares (Par Value RMB 0.10 per share) | 198,860,000 | 19,886 | 198,860,000 | 19,886 | | H Shares (Par Value RMB 0.10 per share) | 110,000,000 | 11,000 | 110,000,000 | 11,000 | | **Total** | **308,860,000** | **30,886** | **308,860,000** | **30,886** | - Domestic shares and H shares enjoy equal status, with restrictions only on dividend payment currency and shareholder identity[35](index=35&type=chunk) [Capital Commitments](index=18&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group's capital commitments amounted to contracted contributions of **RMB 49 thousand** to an associate, consistent with the end of 2024 Capital Commitments (RMB thousands) | Capital Commitment Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Contracted Contributions to an Associate | 49 | 49 | [Management Discussion and Analysis](index=19&type=section&id=Management%20Discussion%20and%20Analysis) This section provides a comprehensive review of the Group's business operations, financial performance, liquidity, and risk management strategies for the reporting period [Business Review](index=19&type=section&id=Business%20Review) The Group primarily engages in the design, research, development, production, and sale of image transmission fiber optic products, mainly applied in military low-light night vision devices, with customers in China, Russia, and other Asian countries. In the first half of 2025, due to international circumstances, overseas customer orders significantly declined, while the Company actively expanded its domestic customer base, leading to a year-on-year increase in domestic sales - The Group's principal business involves the design, research, development, production, and sale of image transmission fiber optic products, including fiber optic inverters, fiber optic straight plates, fiber optic faceplates, fiber optic tapers, and microchannel plates[37](index=37&type=chunk) - Products are primarily applied in military low-light night vision devices and military low-light night vision imaging systems, with customers mainly located in China, Russia, and other Asian countries[37](index=37&type=chunk) - Revenue for the first half of 2025 decreased year-on-year, primarily due to a significant decline in overseas customer orders influenced by international circumstances[38](index=38&type=chunk) - The Company actively expanded its domestic customer base, resulting in a year-on-year increase in domestic sales, and plans to continue strengthening new domestic customer development and increasing market share with existing domestic customers, while striving to restore overseas revenue[38](index=38&type=chunk) [Financial Position and Going Concern Matters](index=19&type=section&id=Financial%20Position%20and%20Going%20Concern%20Matters) The Group faces severe going concern uncertainties with substantial net current liabilities and net liabilities. To improve its financial position, the Company plans operational measures such as revitalizing long-term assets, developing new products, expanding into civilian markets, and strengthening sales, alongside capital and liability measures like debt restructuring, interest waivers, repayment deferrals, and seeking shareholder funding - As of June 30, 2025, the Group had net current liabilities of approximately **RMB 196,532 thousand** and net liabilities of approximately **RMB 146,032 thousand**, indicating significant going concern uncertainties[39](index=39&type=chunk) - Planned financial measures include: (i) Capital level: targeted issuance of new shares/bonds to introduce strategic investors, and negotiating debt restructuring with shareholders, lenders, and financial institutions; (ii) Operational level: revitalizing long-term assets, developing new products, expanding into civilian product areas, and strengthening sales efforts; (iii) Liability level: negotiating debt restructuring, interest waivers, and repayment deferral plans with shareholders, lenders, and banks, and seeking further financial assistance from major shareholders and lenders[39](index=39&type=chunk)[40](index=40&type=chunk) [Financial Measures Implemented](index=21&type=section&id=Financial%20Measures%20Implemented) The Company has reached loan extension agreements with its major shareholder Taiyuan Changcheng and other lenders, deferring existing loan principal and interest payments until 2026, and securing partial interest waivers to alleviate liquidity pressure - Signed a revised loan agreement with major shareholder Taiyuan Changcheng, extending **RMB 14,600 thousand** in loan principal until **December 31, 2026**, and deferring interest payments for **2022-2025** until **2026**[41](index=41&type=chunk) - Reached agreements with two other lenders to extend existing loans until **December 31, 2026**, and defer interest payments for **2023-2025** until **2026**[41](index=41&type=chunk) - One other lender has waived interest payable from the first borrowing up to **December 31, 2024**, and deferred **2025** interest payment until **2026**[41](index=41&type=chunk) - As of June 30, 2025, the Group's outstanding bank borrowings amounted to **RMB 6,000 thousand**[42](index=42&type=chunk) [Financial Review](index=21&type=section&id=Financial%20Review) In the first half of 2025, the Group's turnover decreased by **4.24%** to **RMB 8,662 thousand** year-on-year, while cost of sales increased by **3.42%**, leading to a **16.00%** decline in gross profit. Despite reductions in administrative and other operating expenses and finance costs, loss after tax still expanded to **RMB 4,111 thousand** - Turnover was approximately **RMB 8,662 thousand**, a decrease of **RMB 384 thousand** from **RMB 9,046 thousand** in the same period last year[43](index=43&type=chunk) - Cost of sales was approximately **RMB 5,655 thousand**, an increase of **RMB 187 thousand** from **RMB 5,468 thousand** in the same period last year[43](index=43&type=chunk) - Gross profit was **RMB 3,007 thousand**, a decrease of **RMB 571 thousand** from **RMB 3,578 thousand** in the same period last year[43](index=43&type=chunk) - Other income, gains, and losses were approximately **RMB 1,217 thousand**, primarily from the amortization of deferred government grants, a year-on-year decrease of **RMB 10 thousand**[44](index=44&type=chunk) - Administrative and other operating expenses were approximately **RMB 7,197 thousand**, a year-on-year decrease of **RMB 133 thousand**[44](index=44&type=chunk) - Finance costs were approximately **RMB 1,036 thousand**, a year-on-year decrease of **RMB 197 thousand**[44](index=44&type=chunk) - Loss after tax was approximately **RMB 4,111 thousand**, an expansion from **RMB 3,908 thousand** in the same period last year[45](index=45&type=chunk) [Related Party Transactions and Financial Assistance from Major Shareholders](index=22&type=section&id=Related%20Party%20Transactions%20and%20Financial%20Assistance%20from%20Major%20Shareholders) As of June 30, 2025, the Group received financial assistance from major shareholders Taiyuan Changcheng, Beijing Zhongze, and other related parties, with total amounts payable of approximately **RMB 26,410 thousand**. The Board believes the interest charged is on normal commercial terms or better - As of June 30, 2025, amounts payable to major shareholder Taiyuan Changcheng were approximately **RMB 24,160 thousand**[46](index=46&type=chunk) - As of June 30, 2025, amounts payable to major shareholder Beijing Zhongze were approximately **RMB 1,481 thousand**[46](index=46&type=chunk) - As of June 30, 2025, amounts payable to two other related parties were approximately **RMB 769 thousand**[46](index=46&type=chunk) - In the first half of 2025, total interest charged by Taiyuan Changcheng, Beijing Zhongze, and related parties was **RMB 358 thousand**, **RMB 6 thousand**, and **RMB 12 thousand**, respectively[47](index=47&type=chunk) - The Board considers the interest charged by related parties to be on normal commercial terms or better[47](index=47&type=chunk) [Bank and Other Borrowings](index=23&type=section&id=Bank%20and%20Other%20Borrowings) As of June 30, 2025, the Group had outstanding bank borrowings of **RMB 6,000 thousand** and other borrowings of approximately **RMB 65,424 thousand** - As of June 30, 2025, the Group had outstanding bank borrowings of **RMB 6,000 thousand**, consistent with December 31, 2024[48](index=48&type=chunk) - As of June 30, 2025, the Group had outstanding other borrowings of approximately **RMB 65,424 thousand**[49](index=49&type=chunk) [Liquidity and Financial Resources](index=23&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's total assets increased by **4%** to **RMB 168,786 thousand**, and total liabilities increased by **3%** to **RMB 314,818 thousand**, leading to a further **RMB 4,111 thousand** reduction in total equity to negative **RMB 146,032 thousand** - As of June 30, 2025, the Group's total assets increased by approximately **RMB 5,912 thousand** (**4%**) to **RMB 168,786 thousand**[50](index=50&type=chunk) - As of June 30, 2025, the Group's total liabilities increased by approximately **RMB 10,023 thousand** (**3%**) to **RMB 314,818 thousand**[50](index=50&type=chunk) - As of June 30, 2025, the Group's total equity decreased by approximately **RMB 4,111 thousand** from negative **RMB 141,921 thousand** to negative **RMB 146,032 thousand**[50](index=50&type=chunk) [Gearing Ratio](index=23&type=section&id=Gearing%20Ratio) As of June 30, 2025, the Group's gearing ratio was approximately **205%**, an increase from **200%** at the end of 2024, indicating a further rise in debt levels - As of June 30, 2025, the Group's gearing ratio was approximately **205%** (December 31, 2024: **200%**)[51](index=51&type=chunk) [Material Investments Held](index=24&type=section&id=Material%20Investments%20Held) As of June 30, 2025, the carrying amount of the Group's interests in associates was approximately **RMB zero** - As of June 30, 2025, the carrying amount of the Group's interests in associates was approximately **RMB zero**[52](index=52&type=chunk) [Acquisition and Disposal of Subsidiaries](index=24&type=section&id=Acquisition%20and%20Disposal%20of%20Subsidiaries) For the six months ended June 30, 2025, the Group did not undertake any acquisitions or disposals of subsidiaries - For the six months ended June 30, 2025, the Group did not acquire or dispose of any subsidiaries[53](index=53&type=chunk) [Pledge of Assets](index=24&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, certain buildings with a carrying amount of approximately **RMB 39,559 thousand** and right-of-use assets located at No. 7 Dianzi Street, Demonstration Zone, Shanxi, China, were pledged as collateral for the Group's bank borrowings - As of June 30, 2025, certain buildings with a carrying amount of approximately **RMB 39,559 thousand** were pledged as collateral for the Group's bank borrowings[54](index=54&type=chunk) - The Group's right-of-use assets located at No. 7 Dianzi Street, Demonstration Zone, Shanxi, China, were pledged as collateral for bank borrowings[54](index=54&type=chunk) [Contingent Liabilities](index=24&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no contingent liabilities - As of June 30, 2025, the Group had no contingent liabilities[55](index=55&type=chunk) [Foreign Exchange Fluctuation Risk](index=24&type=section&id=Foreign%20Exchange%20Fluctuation%20Risk) The Group faces minimal foreign exchange risk as its business transactions, assets, and liabilities are primarily denominated in its functional currency - The Group faces minimal foreign exchange risk as its business transactions, assets, and liabilities are primarily denominated in the Group's functional currency[56](index=56&type=chunk) [Employee Information](index=24&type=section&id=Employee%20Information) As of June 30, 2025, the Group had approximately **288** full-time employees, with remuneration determined based on experience, performance, and contribution - As of June 30, 2025, the Group had approximately **288** full-time employees[57](index=57&type=chunk) - Employee remuneration is paid based on experience, performance, and value contributed to the Group[57](index=57&type=chunk) [Other Information](index=25&type=section&id=Other%20Information) This section covers additional disclosures including directors' and major shareholders' interests, securities transactions, corporate governance practices, and board composition [Directors' and Supervisors' Interests in Shares, Underlying Shares and Debentures of the Company](index=25&type=section&id=Directors'%20and%20Supervisors'%20Interests%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company) As of June 30, 2025, Director Yuan Guoliang held **3,895,000** H shares, representing **3.54%** of H shares and **1.26%** of the total share capital. Apart from this, no other directors or supervisors had disclosable interests or short positions Directors' and Supervisors' Interests in Shares | Name | Nature of Interest and Capacity | Number and Type of H Shares | Approximate Percentage of the Company's H Shares* | Approximate Percentage of the Company's Total Share Capital* | | :--- | :--- | :--- | :--- | :--- | | Yuan Guoliang | Personal and Family Interest | 3,895,000 H shares | 3.54% | 1.26% | - Yuan Guoliang's H shares include **3,645,000** shares registered in his own name and **250,000** shares registered in his spouse's name[59](index=59&type=chunk) - Save as disclosed above, none of the other directors or supervisors or their associates had any disclosable interests or short positions in the shares, underlying shares or debentures of the Company or any of its associated corporations[59](index=59&type=chunk) [Major Shareholders](index=26&type=section&id=Major%20Shareholders) As of June 30, 2025, the Company's major shareholders included Zhang Shaohui (holding **26.61%** of total share capital through controlled corporations), Beijing Zhongze Venture Capital Management Co., Ltd. (**26.61%**), Taiyuan Changcheng Optoelectronic Co., Ltd. (**25.95%**), among others, primarily domestic share holders Major Shareholders (shares, %) | Name/Entity | Nature of Interest and Capacity | Number and Type of Shares | Approximate Percentage of the Company's Domestic Shares* | Approximate Percentage of the Company's Total Share Capital* | | :--- | :--- | :--- | :--- | :--- | | Zhang Shaohui | Interest in Controlled Corporations | 82,200,000 Domestic Shares | 41.34% | 26.61% | | Beijing Zhongze Venture Capital Management Co., Ltd. | Registered and Beneficial Owner and Interest in Controlled Corporations | 82,200,000 Domestic Shares | 41.34% | 26.61% | | Taiyuan Changcheng Optoelectronic Co., Ltd. | Registered and Beneficial Owner | 80,160,000 Domestic Shares | 40.31% | 25.95% | | Beijing Yuankang Technology Co., Ltd. | Registered and Beneficial Owner | 34,000,000 Domestic Shares | 17.10% | 11.01% | | Ning Shuwu | Interest in Controlled Corporations | 34,000,000 Domestic Shares | 17.10% | 11.01% | | Taiyuan Tanghai Automatic Control Co., Ltd. | Registered and Beneficial Owner | 24,900,000 Domestic Shares | 12.52% | 8.06% | | Liu Jiang | Interest in Controlled Corporations | 24,900,000 Domestic Shares | 12.52% | 8.06% | | Qiu Guiqing | Family Interest | 24,900,000 Domestic Shares | 12.52% | 8.06% | - Zhang Shaohui holds domestic share interests through Beijing Zhongze and Taiyuan Tanghai[62](index=62&type=chunk) - Ning Shuwu holds domestic share interests through Beijing Yuankang Technology Co., Ltd[67](index=67&type=chunk) - Liu Jiang holds domestic share interests through Taiyuan Tanghai Automatic Control Co., Ltd., and his spouse Qiu Guiqing is deemed to have the same interests[67](index=67&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=28&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) 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 - 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[64](index=64&type=chunk) [Share Option Scheme](index=28&type=section&id=Share%20Option%20Scheme) The Group does not have any share option scheme - The Group does not have any share option scheme[65](index=65&type=chunk) [Directors' and Supervisors' Rights to Purchase H Shares](index=28&type=section&id=Directors'%20and%20Supervisors'%20Rights%20to%20Purchase%20H%20Shares) For the six months ended June 30, 2025, no directors or supervisors of the Company were granted options to subscribe for H shares, nor did they own or exercise any rights to purchase H shares - For the six months ended June 30, 2025, no directors or supervisors of the Company were granted any options to subscribe for H shares of the Company[66](index=66&type=chunk) - As of June 30, 2025, none of the Company's directors and supervisors, or their spouses or children under the age of eighteen, owned or exercised any rights to purchase H shares of the Company during the period[66](index=66&type=chunk) [Material Contracts](index=29&type=section&id=Material%20Contracts) For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries entered into any contracts material to the Group's business in which a director or supervisor had a material interest - For the six months ended June 30, 2025, there were no contracts entered into by the Company or any of its subsidiaries that were material to the Group's business and in which a director or supervisor of the Company had a material interest[68](index=68&type=chunk) [Competing Interests](index=29&type=section&id=Competing%20Interests) For the six months ended June 30, 2025, none of the Company's directors, supervisors, management shareholders, or their associates had any interests in businesses that compete or are likely to compete with the Group's business - For the six months ended June 30, 2025, none of the Company's directors, supervisors, management shareholders, or any of their respective associates had any interests in businesses that compete or are likely to compete with the Group's business[69](index=69&type=chunk) [Audit Committee](index=29&type=section&id=Audit%20Committee) The Company has established an Audit Committee, comprising two independent non-executive directors and one non-executive director, chaired by Mr. Xu Yongfeng, with primary responsibilities including reviewing and overseeing financial reporting, risk management, and internal control systems. The Committee has reviewed the current period's results - The Company has established an Audit Committee, whose primary responsibilities include reviewing and overseeing the Group's financial reporting system, risk management, and internal control systems[70](index=70&type=chunk) - The Audit Committee comprises Mr. Xu Yongfeng (Chairman, Independent Non-executive Director), Mr. Rong Fei (Independent Non-executive Director), and Mr. Yuan Guoliang (Non-executive Director)[70](index=70&type=chunk) - The Audit Committee has reviewed the Group's unaudited results for the six months ended June 30, 2025[70](index=70&type=chunk) [Corporate Governance Practices](index=29&type=section&id=Corporate%20Governance%20Practices) The Company is committed to adopting corporate governance standards and has complied with the Corporate Governance Code in Appendix 15 of the GEM Listing Rules, with two exceptions: no insurance coverage for directors' legal actions, and one non-executive director and three independent non-executive directors not attending the 2021 Annual General Meeting - The Company has complied with the code provisions of the Corporate Governance Code and Corporate Governance Report set out in Appendix 15 to the GEM Listing Rules[72](index=72&type=chunk) - Non-compliance matters include: (i) no insurance coverage for directors' potential legal actions (Code Provision A1.8); (ii) one non-executive director and three independent non-executive directors not attending the Annual General Meeting on June 30, 2021 (Code Provision A6.7)[72](index=72&type=chunk) [Directors' Securities Transactions](index=30&type=section&id=Directors'%20Securities%20Transactions) The Company has adopted a standard code for directors' securities transactions that is no less stringent than the GEM Listing Rules, and no instances of non-compliance were found - The Company has adopted a standard code whose terms are no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules[73](index=73&type=chunk) - Following enquiry, the Company is not aware of any non-compliance with the required standard of dealings and the code of conduct for directors' securities transactions[73](index=73&type=chunk) [Board Composition and Announcement Publication](index=30&type=section&id=Board%20Composition%20and%20Announcement%20Publication) As of the announcement date, the Board comprises eight directors, including three executive directors, two non-executive directors, and three independent non-executive directors. This announcement will be published on the Stock Exchange's website and the Company's website - As of the announcement date (August 29, 2025), the Board comprises eight directors: three executive directors (Song Zhenglai, Jiao Baoguo, Wang Lingling), two non-executive directors (Wu Bo, Yuan Guoliang), and three independent non-executive directors (Xu Yongfeng, Wang Weizhong, Rong Fei)[74](index=74&type=chunk)[75](index=75&type=chunk) - This announcement will be published on the Stock Exchange's website 'www.hkexnews.hk' and the Company's website 'www.sxccoe.com'[75](index=75&type=chunk)

[GEM Market Characteristics and Report Statement](index=2&type=section&id=GEM%20Market%20Characteristics%20and%20Report%20Statement) This section details GEM market risks and clarifies directors' full responsibility for report accuracy [GEM Market Characteristics](index=2&type=section&id=GEM%20Market%20Characteristics) The GEM market for SMEs carries high investment risks, significant volatility, and no liquidity guarantee - The GEM market is positioned for small and medium-sized companies, entailing **higher investment risks**, **greater market volatility**, and **no guaranteed liquidity**[2](index=2&type=chunk) [Report Statement and Directors' Responsibilities](index=2&type=section&id=Report%20Statement%20and%20Directors'%20Responsibilities) Hong Kong Exchanges and the Stock Exchange are not responsible for this report, with directors assuming full responsibility for its accuracy - Hong Kong Exchanges and the Stock Exchange bear no responsibility for the report's content, while the company's directors assume **full responsibility for its accuracy, completeness, and non-misleading nature**[2](index=2&type=chunk) [Financial Performance](index=3&type=section&id=Financial%20Performance) This section presents the group's financial results, including statements of profit or loss, financial position, changes in equity, and cash flows, highlighting key performance indicators [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's revenue decreased by 4.24%, gross profit fell by 16.00%, and loss before tax expanded by 5.20% to RMB 4,111 thousand Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30) | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 8,662 | 9,046 | -4.24% | | Cost of sales | (5,655) | (5,468) | 3.42% | | Gross profit | 3,007 | 3,578 | -16.00% | | Other income, gains and losses | 1,217 | 1,227 | -0.81% | | Selling and distribution expenses | (102) | (150) | -32.00% | | Administrative and other operating expenses | (7,197) | (7,330) | -1.79% | | Finance costs | (1,036) | (1,233) | -15.98% | | Loss before tax | (4,111) | (3,908) | 5.20% | | Income tax expense | – | – | – | | Loss and total comprehensive loss for the period | (4,111) | (3,908) | 5.20% | | Basic and diluted loss per share | (0.013) | (0.013) | 0.00% | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group reported net current liabilities of RMB 196,532 thousand, net liabilities of RMB 146,032 thousand, and total equity of negative RMB 146,032 thousand, indicating ongoing financial pressure Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Non-current assets | 136,317 | 138,663 | -1.76% | | Current assets | 32,469 | 24,211 | 34.11% | | **Liabilities** | | | | | Current liabilities | 229,001 | 218,430 | 4.84% | | Non-current liabilities | 85,817 | 86,365 | -0.63% | | **Net** | | | | | Net current liabilities | (196,532) | (194,219) | 1.19% | | Net liabilities | (146,032) | (141,921) | 2.89% | | Total equity | (146,032) | (141,921) | 2.89% | - Trade receivables significantly increased from **RMB 5,881 thousand** on December 31, 2024, to **RMB 14,757 thousand** on June 30, 2025, representing a **150.92% growth**[6](index=6&type=chunk) - Contract liabilities significantly increased from **RMB 5,642 thousand** on December 31, 2024, to **RMB 15,863 thousand** on June 30, 2025, representing a **181.16% growth**[6](index=6&type=chunk) [Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, total equity attributable to owners further decreased by RMB 4,111 thousand due to the total comprehensive loss for the period, expanding accumulated losses to RMB 211,218 thousand Condensed Consolidated Statement of Changes in Equity (For the six months ended June 30) | Indicator | June 30, 2025 (RMB thousands) | January 1, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Total equity at beginning of period | (141,921) | (108,301) | (33,620) | | Total comprehensive loss for the period | (4,111) | (3,908) | 203 | | Total equity at end of period | (146,032) | (112,209) | (33,823) | - Accumulated losses increased from **RMB (207,107) thousand** on January 1, 2025, to **RMB (211,218) thousand** on June 30, 2025[8](index=8&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was RMB (6) thousand, net cash used in investing activities was RMB 1 thousand, net cash generated from financing activities was RMB 5 thousand, with cash and cash equivalents at period-end maintained at RMB 292 thousand Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Net cash used in operating activities | (6) | 240 | (246) | | Net cash used in investing activities | 1 | (47) | 48 | | Net cash generated from financing activities | 5 | (161) | 166 | | Increase in cash and cash equivalents | – | 32 | (32) | | Cash and cash equivalents at end of period | 292 | 309 | (17) | [Notes to the Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures for the condensed consolidated financial statements, covering general information, accounting policies, and specific financial items [General Information](index=9&type=section&id=General%20Information) Shanxi Changcheng Microlight Equipment Co, Ltd was incorporated in China on November 10, 2000, with its H shares listed on the HKEX GEM - The company was incorporated in China on **November 10, 2000**, with its H shares listed on the **Hong Kong Stock Exchange GEM**[10](index=10&type=chunk) [Going Concern Basis](index=9&type=section&id=Going%20Concern%20Basis) The Group faces significant going concern uncertainties due to high net current liabilities, net liabilities, and outstanding borrowings, with management implementing measures like debt restructuring and shareholder financial support - As of June 30, 2025, the Group's net current liabilities were approximately **RMB 196,532 thousand**, net liabilities approximately **RMB 146,032 thousand**, and outstanding bank and other borrowings approximately **RMB 71,424 thousand**, indicating significant going concern uncertainties[11](index=11&type=chunk) - Management has implemented measures to improve liquidity, including negotiating debt restructuring, interest waivers, and repayment extensions with shareholders, lenders, and banks, while seeking further financial assistance and expanding fiber optic product sales channels[11](index=11&type=chunk) [Basis of Preparation](index=10&type=section&id=Basis%20of%20Preparation) The condensed consolidated financial statements are prepared in accordance with HKAS 34 and GEM Listing Rules, consistent with 2024 annual report accounting policies - The condensed consolidated financial statements are prepared in accordance with **HKAS 34** and the **GEM Listing Rules**, with accounting policies consistent with the 2024 annual report[12](index=12&type=chunk) [Adoption of New and Revised Hong Kong Financial Reporting Standards](index=10&type=section&id=Adoption%20of%20New%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group adopted all new and revised HKFRS effective January 1, 2025, without significant changes to accounting policies or financial statement amounts - The Group has adopted all new and revised Hong Kong Financial Reporting Standards effective **January 1, 2025**, without significant changes to accounting policies or financial statement amounts[13](index=13&type=chunk) [Revenue and Segment Information](index=11&type=section&id=Revenue%20and%20Segment%20Information) The Group's revenue primarily derives from fiber optic product manufacturing and sales, totaling RMB 8,662 thousand for the six months ended June 30, 2025, a 4.24% year-on-year decrease, with microchannel plates and fiber optic inverters as key products and China as the main market, despite a significant decline in European and Russian market revenue Revenue by Product and Geographical Location (For the six months ended June 30) | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | **Total Revenue** | 8,662 | 9,046 | -4.24% | | **By Product** | | | | | Fiber optic inverters | 3,479 | 4,234 | -17.79% | | Fiber optic straight plates | – | 150 | -100.00% | | Fiber optic faceplates | 69 | 460 | -85.00% | | Fiber optic tapers | 1,231 | 878 | 40.21% | | Microchannel plates | 3,723 | 3,313 | 12.37% | | Others | 160 | 11 | 1354.55% | | **By Geographical Location** | | | | | China | 7,430 | 7,346 | 1.14% | | Hong Kong and other Asian countries | 612 | 327 | 87.16% | | Europe and Russia | 620 | 1,373 | -54.84% | - The Group considers sales of fiber optic inverters, fiber optic straight plates, fiber optic faceplates, fiber optic tapers, and microchannel plates as a **single reportable segment**[19](index=19&type=chunk) - Revenue from major customer A increased from **RMB 5,343 thousand** in 2024 to **RMB 5,868 thousand** in 2025, while revenue from customer B decreased from **RMB 1,652 thousand** to **RMB 996 thousand**[24](index=24&type=chunk) [Other Income, Gains and Losses](index=16&type=section&id=Other%20Income,%20Gains%20and%20Losses) For the six months ended June 30, 2025, other income, gains, and losses primarily comprised government grants totaling approximately RMB 1,217 thousand, a slight decrease from the prior year - Other income, gains and losses primarily comprised **government grants**, totaling **RMB 1,217 thousand** in 2025 and **RMB 1,227 thousand** in 2024[25](index=25&type=chunk) [Finance Costs](index=16&type=section&id=Finance%20Costs) For the six months ended June 30, 2025, the Group's finance costs were RMB 1,036 thousand, a 15.98% decrease from RMB 1,233 thousand in the prior year, mainly due to reduced interest on other borrowings Finance Costs (For the six months ended June 30) | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Y-o-Y Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Interest on bank borrowings | – | 218 | (218) | | Interest on other borrowings | 673 | 2,120 | (1,447) | | Interest on amounts due to shareholders | 363 | 372 | (9) | | Less: Interest waived | – | (1,477) | 1,477 | | **Total** | 1,036 | 1,233 | (197) | [Income Tax Expense](index=16&type=section&id=Income%20Tax%20Expense) For the six months ended June 30, 2025, the Group incurred no taxable profit, resulting in no income tax expense - The Group generated no taxable profit during the reporting period, thus **no income tax expense was recognized**[27](index=27&type=chunk) [Loss Per Share](index=17&type=section&id=Loss%20Per%20Share) For the six months ended June 30, 2025, basic and diluted loss per share remained at RMB 0.013, consistent with the prior year, due to unchanged issued shares and no potential dilutive ordinary shares Loss Per Share (For the six months ended June 30) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Loss attributable to owners of the Company (RMB thousands) | 4,111 | 3,908 | | Number of shares in issue (shares) | 308,860,000 | 308,860,000 | | Basic and diluted loss per share (RMB) | (0.013) | (0.013) | [Interim Dividend](index=17&type=section&id=Interim%20Dividend) The Board of Directors does not recommend paying any dividend for the six months ended June 30, 2025 - The Board of Directors does not recommend paying any dividend for the six months ended **June 30, 2025**[30](index=30&type=chunk) [Property, Plant and Equipment](index=17&type=section&id=Property,%20Plant%20and%20Equipment) For the six months ended June 30, 2025, the Group did not purchase any property, plant, or equipment - During the reporting period, the Group made **no purchases of property, plant, and equipment**[31](index=31&type=chunk) [Trade Receivables](index=17&type=section&id=Trade%20Receivables) As of June 30, 2025, net trade receivables significantly increased by 150.92% to RMB 14,757 thousand from RMB 5,881 thousand on December 31, 2024, with a notable rise in amounts over 365 days past due Ageing Analysis of Trade Receivables (As of June 30) | Ageing | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Total trade receivables | 36,122 | 27,247 | 8,875 | | Less: Impairment of trade receivables | (21,365) | (21,366) | 1 | | **Net** | 14,757 | 5,881 | 8,876 | | **By Ageing** | | | | | Within 90 days | 3,374 | 5,561 | (2,187) | | 91 to 180 days | 3,903 | 320 | 3,583 | | 181 to 365 days | 224 | – | 224 | | Over 365 days | 7,256 | – | 7,256 | [Trade Payables](index=18&type=section&id=Trade%20Payables) As of June 30, 2025, total trade payables were RMB 8,399 thousand, a slight decrease from RMB 8,832 thousand on December 31, 2024, with amounts over 365 days still constituting the majority Ageing Analysis of Trade Payables (As of June 30) | Ageing | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | 0 to 90 days | 377 | 245 | 132 | | 91 to 180 days | 158 | 360 | (202) | | 181 to 365 days | 62 | 403 | (341) | | Over 365 days | 7,802 | 7,824 | (22) | | **Total** | 8,399 | 8,832 | (433) | [Share Capital](index=19&type=section&id=Share%20Capital) As of June 30, 2025, the company's total issued and fully paid share capital was RMB 30,886 thousand, comprising 198,860,000 domestic shares and 110,000,000 H shares, each with a par value of RMB 0.10 Share Capital Composition (As of June 30) | Share Capital Type | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Domestic shares (198,860,000 shares) | 19,886 | 19,886 | | H shares (110,000,000 shares) | 11,000 | 11,000 | | **Total** | 30,886 | 30,886 | [Capital Commitments](index=19&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group's capital commitments amounted to RMB 49 thousand for contracted contributions to an associate, consistent with the previous fiscal period-end Capital Commitments (As of June 30) | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Contracted contributions to an associate | 49 | 49 | [Management Discussion and Analysis](index=20&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the Group's business operations, financial condition, and going concern matters, along with key financial performance indicators and related party transactions [Business Review](index=20&type=section&id=Business%20Review) The Group primarily designs, develops, manufactures, and sells image transmission fiber optic products for military night vision, with H1 2025 revenue declining due to overseas order drops but domestic sales increasing, as the company actively expands markets - The Group's primary business involves the design, research and development, production, and sale of **image transmission fiber optic products**, mainly applied in **military low-light night vision devices**[37](index=37&type=chunk) - In the first half of 2025, operating revenue decreased year-on-year, primarily due to a **significant decline in overseas customer orders** caused by international situations[38](index=38&type=chunk) - The company is actively developing domestic customers, with domestic sales increasing year-on-year, and will continue to strengthen new domestic customer development and increase market share with existing domestic customers, while striving to restore overseas revenue[38](index=38&type=chunk) [Financial Position and Going Concern Matters](index=21&type=section&id=Financial%20Position%20and%20Going%20Concern%20Matters) The Group faces severe liquidity and debt issues, with management implementing asset revitalization, new product development, market expansion, debt restructuring, interest waivers, repayment extensions, and shareholder financial support to address significant going concern uncertainties - As of June 30, 2025, the Group's net current liabilities and net liabilities were approximately **RMB 196,532 thousand** and **RMB 146,032 thousand**, respectively, indicating significant going concern uncertainties[39](index=39&type=chunk) - Financial measures include: **revitalizing long-term assets** (leasing properties), **researching and developing new products** and extending down the industrial chain, **strengthening sales efforts**, and **expanding into civilian product sectors**[39](index=39&type=chunk) - Debt-related measures include: negotiating **debt restructuring, interest waivers, and repayment extensions** with shareholders, lenders, and banks, and seeking further financial assistance from major shareholders and lenders[39](index=39&type=chunk) - Implemented financial measures include major shareholder Taiyuan Changcheng and other lenders agreeing to **extend loan principal to December 31, 2026**, and **defer interest payments**[41](index=41&type=chunk) [Financial Review](index=22&type=section&id=Financial%20Review) For the six months ended June 30, 2025, the Group's turnover decreased by 4.24% year-on-year, and gross profit declined by 16.00%, but administrative and other operating expenses and finance costs decreased, resulting in a 5.20% expansion of loss after tax to RMB 4,111 thousand Financial Review Key Indicators (For the six months ended June 30) | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Y-o-Y Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Turnover | 8,662 | 9,046 | (384) | | Cost of sales | 5,655 | 5,468 | 187 | | Gross profit | 3,007 | 3,578 | (571) | | Other income, gains and losses | 1,217 | 1,227 | (10) | | Administrative and other operating expenses | 7,197 | 7,330 | (133) | | Finance costs | 1,036 | 1,233 | (197) | | Loss after tax | 4,111 | 3,908 | 203 | [Related Party Transactions and Financial Assistance from Major Shareholders](index=23&type=section&id=Related%20Party%20Transactions%20and%20Financial%20Assistance%20from%20Major%20Shareholders) The Group received financial assistance from major shareholders Taiyuan Changcheng, Beijing Zhongze, and other related parties, with total amounts due to these parties approximately RMB 26,410 thousand as of June 30, 2025, and interest charged by related parties on normal commercial terms or better Amounts Due to Major Shareholders and Related Parties (As of June 30) | Related Party | June 30, 2025 (RMB thousands) | | :--- | :--- | | Taiyuan Changcheng | 24,160 | | Beijing Zhongze | 1,481 | | Other related parties | 769 | | **Total** | 26,410 | Total Interest Charged by Related Parties (For the six months ended June 30) | Related Party | 2025 (RMB thousands) | | :--- | :--- | | Taiyuan Changcheng | 358 | | Beijing Zhongze | 6 | | Other related parties | 12 | | **Total** | 376 | [Bank and Other Borrowings](index=24&type=section&id=Bank%20and%20Other%20Borrowings) As of June 30, 2025, the Group had outstanding bank borrowings of RMB 6,000 thousand and other borrowings of approximately RMB 65,424 thousand Bank and Other Borrowings (As of June 30) | Borrowing Type | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Bank borrowings | 6,000 | 6,000 | | Other borrowings | 65,424 | – | | **Total** | 71,424 | 6,000 | [Liquidity and Financial Resources](index=24&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's total assets increased by 4% to RMB 168,786 thousand, total liabilities increased by 3% to RMB 314,818 thousand, leading to a decrease in total equity by approximately RMB 4,111 thousand to negative RMB 146,032 thousand Liquidity and Financial Resources Overview (As of June 30) | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (RMB thousands) | | :--- | :--- | :--- | :--- | | Total assets | 168,786 | 162,874 | 5,912 | | Total liabilities | 314,818 | 304,795 | 10,023 | | Total equity | (146,032) | (141,921) | (4,111) | [Gearing Ratio](index=24&type=section&id=Gearing%20Ratio) As of June 30, 2025, the Group's gearing ratio increased to approximately 205% from 200% on December 31, 2024, indicating a further rise in debt levels Gearing Ratio (As of June 30) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Gearing ratio | 205% | 200% | [Material Investments Held](index=25&type=section&id=Material%20Investments%20Held) As of June 30, 2025, the Group's carrying amount of interests in associates was zero - The Group held **no material investments in associates** at the end of the reporting period[52](index=52&type=chunk) [Acquisition and Disposal of Subsidiaries](index=25&type=section&id=Acquisition%20and%20Disposal%20of%20Subsidiaries) For the six months ended June 30, 2025, the Group neither acquired nor disposed of any subsidiaries - During the reporting period, the Group did not engage in any **acquisition or disposal of subsidiaries**[53](index=53&type=chunk) [Pledge of Assets](index=25&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, buildings with a carrying amount of approximately RMB 39,559 thousand and right-of-use assets located in Shanxi, China, were pledged as collateral for bank borrowings - Buildings with a carrying amount of approximately **RMB 39,559 thousand** were pledged as collateral for bank borrowings[54](index=54&type=chunk) - Right-of-use assets located in Shanxi, China, were also pledged as collateral for bank borrowings[54](index=54&type=chunk) [Contingent Liabilities](index=25&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no contingent liabilities - The Group had **no contingent liabilities** at the end of the reporting period[55](index=55&type=chunk) [Exchange Rate Fluctuation Risk](index=25&type=section&id=Exchange%20Rate%20Fluctuation%20Risk) The Group faces minimal foreign exchange risk as its business transactions, assets, and liabilities are primarily denominated in its functional currency - The Group faces **minimal foreign exchange risk** as its business transactions, assets, and liabilities are primarily denominated in its functional currency[56](index=56&type=chunk) [Employee Information](index=25&type=section&id=Employee%20Information) As of June 30, 2025, the Group employed approximately 288 full-time staff, with remuneration determined by experience, performance, and contribution - As of June 30, 2025, the Group employed approximately **288 full-time staff**[57](index=57&type=chunk) [Other Information](index=26&type=section&id=Other%20Information) This section covers additional disclosures including directors' and major shareholders' interests, securities transactions, corporate governance, and employee details [Directors' and Supervisors' Interests in Shares, Underlying Shares and Debentures of the Company](index=26&type=section&id=Directors'%20and%20Supervisors'%20Interests%20in%20Shares,%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company) As of June 30, 2025, Director Yuan Guoliang held 3,895,000 H shares, representing approximately 3.54% of H shares and 1.26% of total share capital, with no other directors or supervisors having disclosable interests or short positions Directors' and Supervisors' Long Positions in Shares of the Company (As of June 30) | Name | Nature and Capacity of Interest | Number and Class of H Shares | Approximate Percentage of H Shares Held* | Approximate Percentage of Total Share Capital Held* | | :--- | :--- | :--- | :--- | :--- | | Yuan Guoliang | Personal and family interests | 3,895,000 H shares | 3.54% | 1.26% | [Major Shareholders](index=27&type=section&id=Major%20Shareholders) As of June 30, 2025, the company's major shareholders include Zhang Shaohui (via controlled companies), Beijing Zhongze Venture Capital Management Co, Ltd, Taiyuan Changcheng Optoelectronic Co, Ltd, Beijing Yuankang Technology Co, Ltd, Ning Shuwu (via controlled companies), Taiyuan Tanghai Automatic Control Co, Ltd, Liu Jiang (via controlled companies), and Qiu Guiqing (family interests), primarily holding domestic shares Major Shareholders' Shareholdings (As of June 30) | Name/Company Name | Nature and Capacity of Interest | Number and Class of Domestic Shares | Approximate Percentage of Domestic Shares Held* | Approximate Percentage of Total Share Capital Held* | | :--- | :--- | :--- | :--- | :--- | | Zhang Shaohui | Interest in controlled corporation | 82,200,000 domestic shares | 41.34% | 26.61% | | Beijing Zhongze Venture Capital Management Co, Ltd | Registered and beneficial owner and interest in controlled corporation | 82,200,000 domestic shares | 41.34% | 26.61% | | Taiyuan Changcheng Optoelectronic Co, Ltd | Registered and beneficial owner | 80,160,000 domestic shares | 40.31% | 25.95% | | Beijing Yuankang Technology Co, Ltd | Registered and beneficial owner | 34,000,000 domestic shares | 17.10% | 11.01% | | Ning Shuwu | Interest in controlled corporation | 34,000,000 domestic shares | 17.10% | 11.01% | | Taiyuan Tanghai Automatic Control Co, Ltd | Registered and beneficial owner | 24,900,000 domestic shares | 12.52% | 8.06% | | Liu Jiang | Interest in controlled corporation | 24,900,000 domestic shares | 12.52% | 8.06% | | Qiu Guiqing | Family interest | 24,900,000 domestic shares | 12.52% | 8.06% | [Purchase, Sale or Redemption of the Company's Listed Securities](index=29&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%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 - During the reporting period, neither the company nor its subsidiaries engaged in the **purchase, sale, or redemption of listed securities**[64](index=64&type=chunk) [Share Option Scheme](index=29&type=section&id=Share%20Option%20Scheme) The Group does not have any share option scheme - The Group has **no share option scheme**[65](index=65&type=chunk) [Rights of Directors and Supervisors to Purchase H Shares](index=29&type=section&id=Rights%20of%20Directors%20and%20Supervisors%20to%20Purchase%20H%20Shares) For the six months ended June 30, 2025, no directors or supervisors were granted or exercised any rights to subscribe for the company's H shares - During the reporting period, no directors or supervisors were granted or exercised any **rights to purchase H shares**[66](index=66&type=chunk) [Material Contracts](index=30&type=section&id=Material%20Contracts) The Board believes that for the six months ended June 30, 2025, neither the company nor its subsidiaries entered into any material contracts in which directors or supervisors had a significant interest - During the reporting period, the Group had **no material related party contracts**[68](index=68&type=chunk) [Competing Interests](index=30&type=section&id=Competing%20Interests) The Board believes that for the six months ended June 30, 2025, no directors, supervisors, management shareholders, or their associates had interests in businesses competing with the Group - During the reporting period, directors, supervisors, and management shareholders had **no competing interests**[69](index=69&type=chunk) [Audit Committee](index=30&type=section&id=Audit%20Committee) The company has established an Audit Committee, comprising two independent non-executive directors and one non-executive director, primarily responsible for reviewing and overseeing financial reporting, risk management, and internal control systems, and has reviewed the current period's results - The Audit Committee comprises Mr Xu Yongfeng (Chairman), Mr Rong Fei (Independent Non-executive Director), and Mr Yuan Guoliang (Non-executive Director)[70](index=70&type=chunk) - The Audit Committee has reviewed the Group's unaudited results for the six months ended **June 30, 2025**[70](index=70&type=chunk) [Corporate Governance Practices](index=30&type=section&id=Corporate%20Governance%20Practices) The company has complied with the Corporate Governance Code in Appendix 15 of the GEM Listing Rules, except for not purchasing directors' liability insurance and some non-executive directors' absence from the AGM - The company has complied with the Corporate Governance Code in Appendix 15 of the GEM Listing Rules, with two exceptions: **no directors' liability insurance was purchased**, and **some non-executive directors did not attend the Annual General Meeting**[72](index=72&type=chunk) [Directors' Securities Transactions](index=31&type=section&id=Directors'%20Securities%20Transactions) The company has adopted a standard code for directors' securities transactions no less stringent than the GEM Listing Rules, with no non-compliance found - The company has adopted a standard code for directors' securities transactions, and **no non-compliance was identified**[73](index=73&type=chunk) [Board Approval and Contact Information](index=31&type=section&id=Board%20Approval%20and%20Contact%20Information) This report was approved by the Board on August 29, 2025, comprising three executive, two non-executive, and three independent non-executive directors, with publication details provided - This report was approved by the Board on **August 29, 2025**[74](index=74&type=chunk)[75](index=75&type=chunk) - The Board comprises eight directors: Mr Song Zhenglai, Mr Jiao Baoguo, Ms Wang Lingling (Executive Directors); Mr Wu Bo, Mr Yuan Guoliang (Non-executive Directors); Mr Xu Yongfeng, Mr Wang Weizhong, Mr Rong Fei (Independent Non-executive Directors)[75](index=75&type=chunk)

Core Viewpoint - The company Changcheng Weiguang (08286.HK) announced that its H shares will resume trading starting from 9:00 AM on August 29, 2025 [1] Summary by Category - **Company Announcement** - Changcheng Weiguang has officially announced the resumption of trading for its H shares [1]

Group 1 - Company Great Wall Microelectronics (08286) has received a winding-up petition from She Wei Zhi Limited for an alleged debt of HKD 585,940.00, related to unpaid services [1] - The petition is scheduled for a hearing at the High Court of the Hong Kong Special Administrative Region on October 31, 2025 [1] - The company's board became aware of the petition on August 25, 2025, and is taking steps to communicate with the petitioner to seek a resolution [1] Group 2 - The board reminds shareholders and potential investors that any share transfers related to the affected listed issuer may be invalid without court approval following the winding-up petition [2] - Hong Kong Clearing may exercise its powers to suspend services related to the affected listed issuer's shares, which could include halting the acceptance of shares into the central clearing system [2] - Measures will end once the winding-up petition is withdrawn, dismissed, permanently stayed, or the affected issuer obtains the necessary court order [2] Group 3 - The company has applied to the Stock Exchange to resume trading of its shares starting from 9:00 AM on August 29, 2025 [3]

Group 1 - Company Longcheng Micro Light (08286) has received a winding-up petition from Shewei Limited for an alleged debt of HKD 585,940.00, with a court hearing scheduled for October 31, 2025 [1] - The company's management was initially unaware of the urgency of the petition, which was received on August 10, 2025, and only informed the board on August 25, 2025 [1] - The company plans to communicate with the petitioner to seek a resolution and withdrawal of the petition [1] Group 2 - The board has reminded shareholders and potential investors that any share transfers related to the affected listed issuer may be invalid without court approval following the winding-up petition [2] - Hong Kong Clearing may exercise its powers to suspend services related to the affected listed issuer's shares, which could include halting the acceptance of shares into the central clearing system [2] - Measures will end once the winding-up petition is withdrawn, dismissed, permanently stayed, or the affected issuer obtains the necessary court order [2] Group 3 - The company has applied to the Stock Exchange to resume trading of its shares starting from 9:00 AM on August 29, 2025 [3]